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CARBIZ INC.
2007 INCENTIVE STOCK PLAN

NON-QUALIFIED STOCK OPTION AGREEMENT
FOR
CONSULTANT

Granted {DATE 1}

This Non-Qualified Stock Option Agreement evidences the grant of a Non-Qualified
Stock Option (“Option”) to {NAME} (the “Participant”) pursuant to Article VI of
the Carbiz Inc. 2007 Incentive Stock Plan (the “Plan”). This Agreement also
describes the terms and conditions of the Option evidenced by this Agreement.

1.

Grant of Options. In consideration of the services rendered to Carbiz Inc. (the
“Company”) and/or its Subsidiaries by the Participant as a consultant to the
Company or a Subsidiary, the Company hereby grants to the Participant an Option
to purchase all or any part of a total of {NUMBER} Shares of the Company at a
price of ${PRICE} per Share (“Option Price”). This Option is granted as of {DATE
1} (“Award Date”). This Option is granted pursuant to the Plan and is subject to
the terms thereof.

        2.

Term.

        (a)

Normal Term. The term of this Option is {TERM YEARS} years, until {DATE 2};
provided, however, that this Option may be terminated earlier as provided below.

        (b)

Early Termination. This Option will terminate on the date the Consulting Service
(as defined in Paragraph 7) ceases; provided, however, that, to the extent this
Option is exercisable or becomes exercisable upon cessation of the Participant’s
Consulting Service, this Option will remain exercisable until {DATE 2}.

        3.

Exercise.

        (a)

Exercisability. This Option is first exercisable, in whole or in part, on and
after the applicable time provided below:

        (i)

Subject to earlier exercisability as provided in (ii) or (iii) below, this
Option shall become exercisable as follows: (1) 20% of the total number of
Shares awarded under this Agreement shall be first exercisable on the first
anniversary of the Award Date, (2) the second 20% of the total number of Shares
awarded under this Agreement shall be first exercisable on the second
anniversary of the Award Date, (3) the third 20% of the total number of Shares
awarded under this Agreement shall be first exercisable on the third anniversary
of the Award Date, (4) the fourth 20% of the total number of Shares awarded
under this Agreement shall be first exercisable on the fourth anniversary of the
Award Date, and (5) the fifth 20% of the total number of Shares awarded under
this Agreement shall be first exercisable on the fifth anniversary of the Award
Date.

        (ii)

If a Change in Control occurs after the Award Date, before the expiration date
of this Option and during the continuation of the Participant’s Consulting
Service (as defined in Paragraph 7), this Option may first be exercised (to the
extent not already exercisable), in whole or in part, after the date such Change
in Control occurs.

        (iii)

If the Participant’s Consulting Service (as defined in Paragraph 7) ceases as a
result of the Participant’s death or total and permanent disability (within the
meaning of Section 22(e)(3) of the Code), this Option may first be exercised (to
the extent not already exercisable), in whole or

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in part, on the date of such cessation of the Participant’s Consulting Service
(as defined in Paragraph 7).

  (b)

By Whom Exercisable. During the Participant’s lifetime, this Option may be
exercised only by the Participant or, where this Option has been transferred to
a family member, family trust, or family partnership pursuant to Paragraph 5,
the family member, the trustee of the family trust, or the general partner of
the family partnership. To the extent this Option has not been transferred to a
family member, family trust, or family partnership pursuant to Paragraph 5, if
the Participant dies prior to the expiration date of this Option without having
exercised this Option as to all of the Shares covered thereby for which rights
have not been transferred, this Option may be exercised, to the extent of the
Shares with respect to which this Option could have been exercised by the
Participant immediately prior to his or her death, by the estate or a person who
acquired the right to exercise this Option (or untransferred portion thereof) by
bequest or inheritance from, or by reason of the death of, the Participant. To
the extent this Option has been transferred to a family member pursuant to
Paragraph 5 and the transferee family member dies prior to the expiration date
of this Option without having exercised this Option as to all of the Shares
covered thereby, the transferred portion of this Option may be exercised, to the
extent of the Shares with respect to which this Option could have been exercised
by the family member if such family member were still living, by the estate or a
person who acquired the right to exercise this Option by bequest or inheritance
from, or by reason of the death of, the transferee family member. To the extent
this Option has been transferred to a family trust or family partnership
pursuant to Paragraph 5 and the family trust or family partnership has
terminated or otherwise distributed this Option to its beneficiaries or partners
prior to the expiration date of this Option without having exercised this Option
as to all of the Shares covered thereby, the transferred portion of this Option
may be exercised, to the extent of the Shares with respect to which this Option
could have been exercised by the trustee of the family trust or general partner
of the family partnership if the family trust or family partnership were still
in existence, by the person who acquired the right to exercise this Option by
distribution from the family trust or partnership.

        (c)

Exercise. This Option shall be exercised by delivery on any business day to the
Company of a Notice of Exercise in the form attached to this Agreement
accompanied by payment of the Option Price as provided in Paragraph 4 and
payment in full, to the extent required by Paragraph 12, of the amount of any
tax the Company is required to withhold as a result of such exercise.

4.

Payment of Option Price. The Option Price will be payable in full upon exercise
of this Option to purchase Shares, and such Option Price must be paid in cash or
certified check or wire transfer or by a combination of the foregoing.

    5.

Transferability. This Option may not be transferred by the Participant except by
will or by the laws of descent and distribution or by a transfer, in whole or in
part, without consideration by gift to a member or members of the Participant’s
“immediate family,” as such term is defined under Exchange Act Rule 16a-l(e), or
to a trust for the benefit solely of a member or members of the Participant’s
immediate family, or to a partnership or other entity whose only owners are
members of the Participant’s family. For purposes hereof, “family member” means
any child, stepchild, grandchild, parent, stepparent, grandparent, spouse,
former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law, or sister-in-law, including adoptive
relationships, any person sharing the Participant’s household (other than a
tenant or employee), or a trust in which these persons have more than fifty
percent of the beneficial interest. No transfer of this Option in whole or in
part by gift to a family member shall be effective until the Company receives
written notice of such transfer in a form acceptable to it. The attached
Transfer by Gift to Family Member, Trust, or Partnership form may be used to
effect such a transfer by gift, and the delivery of a completed copy of such
form to the Company shall constitute notice to the Company.

    6.

Forfeiture. This Option shall be forfeited if it is not exercisable at the time
of the Participant’s cessation of Consulting Service (as defined in Paragraph 7)
if such cessation occurs for any reason other than Participant’s retirement from
Consulting Service in accordance with any applicable Company policy on mandatory
or

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permissive retirement, death, or total and permanent disability (within the
meaning of Section 22(e)(3) of the Code).

      7.

Consulting Service.

      (a)

For purposes hereof, “Consulting Service” means the provision of services to the
Company or a Subsidiary pursuant to a written consulting agreement. A cessation
of Consulting Service shall be deemed to have occurred upon the expiration of
such consulting agreement, unless such services are extended pursuant to the
terms of such agreement or under a new agreement. Notwithstanding any contrary
provision or implication herein, in determining cessation of Consulting Service
for purposes hereof, a transfer of services between the Company and/or any
Subsidiary shall be disregarded and shall not be considered a cessation of
Consulting Service, and changes in status between that of a consultant to an
Employee or a Non-Employee Director shall be disregarded and shall not be
considered a cessation of Consulting Service.

      (b)

Nothing under the Plan or in this Agreement shall confer upon the Participant
any right to continue Consulting Service or in any way affect any right of the
Company to terminate the Participant’s Consulting Service.

      8.

Compliance with Securities Laws. The Company covenants that it will file and
attempt to maintain an effective registration statement with the United States
Securities and Exchange Commission covering the Shares of the Company, which are
the subject of and may be issued pursuant to this Agreement, at all times during
which this Option is exercisable and there is no applicable exemption from
registration of such Shares; provided, however, that this Option shall not be
exercisable for Shares at any time if its exercise would cause the Company to be
in violation of any applicable provisions of the United States federal or state
securities law.

      9.

Administration of Plan. The Plan is administered by a Committee appointed by the
Board of Directors. The Committee has the authority to construe and interpret
the Plan, to make rules of general application relating to the Plan, to amend
outstanding options, and to require of any person exercising this Option, at the
time of such exercise, the execution of any paper or the making of any
representation or the giving of any commitment that the Committee shall, in its
discretion, deem necessary or advisable by reason of the securities laws of the
United States or any state, or the execution of any paper or the payment of any
sum of money in respect of taxes or the undertaking to pay or have paid any such
sum that the Committee shall, in its discretion, deem necessary by reason of the
Code or any rule or regulation thereunder or by reason of the tax laws of any
state. All such Committee determinations shall be final, conclusive, and binding
upon the Company and the Participant.

      10.

Capital Adjustments. The number of Shares covered by this Option, and the Option
Price thereof, will be subject to an appropriate and equitable adjustment, as
determined by the Committee, to reflect any share dividend, share split, or
share combination, and will be subject to such adjustment as the Committee may
deem appropriate to reflect any exchange of shares, recapitalization, merger,
consolidation, separation, reorganization, liquidation, or the like, of or by
the Company.

      11.

Rights as a Shareholder. The Participant, or a transferee of this Option, shall
have no rights as a shareholder with respect to any Shares subject to this
Option until the date of the exercise of this Option for such Shares. No
adjustment shall be made for dividends (ordinary or extraordinary, whether in
cash, securities, or other property) or distributions or other rights for which
the record date is prior to the date of such exercise, except as provided in
Paragraph 10 hereof.

      12.

Withholding Taxes. The Company, or one of its Subsidiaries, shall have the right
to withhold any federal, state, or local taxes or any other applicable taxes
required to be withheld by law with respect to the exercise of this Option. The
Participant will be required to pay the Company, as appropriate, the amount of
any such taxes which the Company, or one of its Subsidiaries, is required to
withhold. In lieu thereof, the Company shall have the right

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to withhold from any other cash amounts due to or to become due from the Company
to the Participant an amount equal to such taxes required to be withheld by the
Company to reimburse the Company for any such taxes; or to retain and withhold a
number of Shares having a Fair Market Value on the date of exercise not less
than the amount of such taxes, and cancel any such Shares so withheld, in order
to reimburse the Company for any such taxes.

    13.

Governing Law. This Agreement shall be construed in accordance with and governed
by the laws of the State of Florida.

    14.

Successors. This Agreement shall be binding upon and inure to the benefit of the
successors, assigns, heirs, and legal representatives of the respective parties.

    15.

Prohibition Against Pledge, Attachment, etc. Except as otherwise provided
herein, this Option, and the rights and privileges conferred hereby, shall not
be transferred, assigned, pledged, or hypothecated in any way and shall not be
subject to execution, attachment, or similar process.

    16.

Not Intended to be an Incentive Stock Option. This Option is not intended to
qualify as an incentive stock option within the meaning of Section 422(b) of the
Code, and the provisions hereof shall be construed consistent with that intent.

    17.

Capitalized Terms. Capitalized terms in this Agreement have the meaning assigned
to them in the Plan, unless this Agreement provides, or the context requires,
otherwise.

To evidence their agreement to the terms and conditions of this Option, the
Company and the Participant have signed this Agreement as of the date first
above written.

CARBIZ INC.: By: _______________________________________________       Its:
_______________________________________________     PARTICIPANT:     {NAME}

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NOTICE OF EXERCISE

Carbiz Inc.
[ADDRESS]

I hereby exercise my Option pursuant to that certain Non-Qualified Stock Option
Agreement dated {DATE 1} (the “Stock Option Agreement”) awarded under the Carbiz
Inc. 2007 Incentive Stock Plan (the “Plan”), subject to all of the terms and
conditions of the said Stock Option Agreement and the Plan referred to therein,
and hereby notify you of my election to purchase the following stated number of
Shares of Carbiz Inc., an Ontario, Canada corporation (the “Company”), from the
award therein as indicated below at the following stated Option Price per Share.

Number of Shares - Option Price per Share - $ Total Option Price - $    

If this Notice of Exercise involves fewer than all of the Shares that are
subject to option under the said Stock Option Agreement, I retain the right to
exercise my option for the balance of the Shares remaining subject to option,
all in accordance with the terms of the said Stock Option Agreement.

I agree to provide the Company with such other documents and representations as
it deems appropriate in connection with this option exercise.

Payment of Exercise Price. This Notice of Exercise is accompanied by cash, a
certified check or confirmation of a wire transfer in the amount of
$_____________.

Tax Withholding. Subject to any satisfaction of tax withholding pursuant to the
next paragraph, I hereby authorize the Company (and any of its Subsidiaries) to
withhold from my compensation or any other pay from the Company (and any of its
Subsidiaries) the applicable minimum amount of any taxes required by law and the
said Stock Option Agreement to be withheld as a result of this exercise, to the
extent not satisfied by the attached check in the amount of $_____________.

[ ] [Check only if desired] I request that the Company withhold from the Shares
otherwise to be issued to me in connection with this exercise a sufficient
number of Shares having a value (based on the Shares’ Fair Market Value on the
date of exercise) needed to satisfy the payment of [ ] all or [ ] $________of
the applicable minimum amount of any taxes required by law and the said Stock
Option Agreement to be withheld as a result of this exercise.

My current address and my Social Security Number are as follows:

Address: _________________________________________________________________

________________________________________________________________________

Social Security Number: ________________________________________

Date:    
                                                                                                                                                               
   {NAME}

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TRANSFER BY GIFT TO FAMILY MEMBER, TRUST OR PARTNERSHIP

I, __________________________________________________(name), hereby transfer
without consideration by gift to the following named family member, family trust
or family partnership all of my right, title and interest with respect to (check
one and complete) [ ] all or [ ] ___________________(enter number of Shares)
Shares of Carbiz Inc. granted to me pursuant to a Stock Option Agreement dated
{DATE 1}.

Name, Address and Social Security Number (or Employer Identification Number) of
Family Member, Family Trust or Family Partnership Transferee:

Name, Address and Social Security Number
(or Employer Identification Number)
of Family Member, Family Trust or Family Partnership Transferee:

Name -
___________________________________________________________________________

Address -
_________________________________________________________________________

_________________________________________________________________________________

SSN or EIN - _______________________

I certify that the transferee is a “family member,” “family trust” or “family
partnership” as described in the aforesaid Stock Option Agreement by reason of
the following relationship to me:

_________________________________________________________________________________

_________________________________________________________________________________

_________________________________________________________________________________

_________________________________________________________________________________

_________________________________________________________________________________

If this transfer is to a family trust or family partnership, I have attached a
copy of the applicable family trust agreement, as amended, or family partnership
agreement, as amended; and I agree to promptly provide Carbiz Inc. with any and
all future amendments to such agreement once made.

I also agree to provide Carbiz Inc. with such other documents and
representations as it deems appropriate, pursuant to the Option and the Plan.

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______________________________   (Date) (Signature)       (Print Name of
Participant)       (Social Security Number)

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