SEC Connect





 







Exhibit 10.1


 


	


	



Autobytel Inc.


Human
Resources Department


18872
MacArthur Blvd, Suite 200


Irvine,
CA 92612-1400


Voice:
(949) 225-4572









 


December
15, 2016


 

TO:                       
William Ferriolo

FROM:                 
Glenn Fuller – EVP, Chief Legal and Administrative Officer
and Secretary


 



RE: Promotion and Compensation Adjustment


 






 


It is a
pleasure to inform you of your promotion to EVP, Chief Operating
Officer at Autobytel Inc. In this position you will continue to
report to Jeff Coats, President and CEO. Below is a summary of your
promotion.


 


	


New Position:

	
 

	


EVP, Chief Operating Officer


	


Position Effective Date:

	
 

	


December 15, 2016


	


Semi-monthly Base Salary Rate:

	
 

	


$16,041.67 ($385,000 Approximate Annually)


	


Increase in Base Salary & AIC% Effective Date:

	
 

	


January 1, 2017


	


Annual Incentive



Opportunity:

	
 

	





 



You shall be eligible to participate in annual incentive
compensation plans, if any, that may be adopted by the Company from
time to time and that are afforded generally to persons employed by
the Company at your employment level and position, geographic
location and applicable department or operations within the Company
(subject to the terms and conditions of any such annual incentive
compensation plans). Should such an annual incentive compensation
plan be adopted for any annual period, your target annual incentive
compensation opportunity will be as established by the Company for
each annual period, which may be up to 70% of your annualized rate
(i.e., 24 X Semi-monthly Rate) based on achievement of objectives
specified by the Company each annual incentive compensation period
(which may include Company-wide performance objectives; divisional,
department or operations performance objectives and/or individual
performance objectives, allocated between and among such
performance objectives as the Company may determine) and subject to
adjustment by the Company based on the Company’s evaluation
and review of your overall individual job performance in the sole
discretion of the Company. Specific annual incentive compensation
plan details, target incentive compensation opportunity and
objectives for each annual compensation plan period will be
established each year. Awards under annual incentive plans may be
prorated by the Company in its discretion for a variety of factors,
including time employed by the Company during the year, adjustments
in base compensation or target award percentage changes during the
year, and unpaid time off. You understand that the Company’s
annual incentive compensation plans, their structure and
components, specific target incentive compensation opportunities
and objectives, the achievement of objectives and the determination
of actual awards and payouts, if any, thereunder are subject to the
sole discretion of the Company. Awards, if any, under any annual
incentive compensation plan shall only be earned by you, and
payable to you, if you remain actively employed by the Company
through the date on which award payouts are made by the Company
under the applicable annual incentive compensation plan. You will
not earn any such award if your employment ends for any reason
prior to that date.


 
















Your
promotion is conditioned upon your acceptance of the foregoing
modifications to the terms and conditions of your employment with
Autobytel Inc. If you accept these modifications to the terms of
your employment, please acknowledge your acceptance in the space
provided below.


 


As a
reminder, your employment is at will and not for a specified term
and may be terminated by the Company or you at any time, with or
without cause or good reason and with or without prior, advance
notice. This “at-will” employment status will remain in
effect throughout the term of your employment by the Company and
cannot be modified except by a written amendment to this promotion
letter that is executed by both parties (which in the case of the
Company, must be executed by the Company’s Chief Legal
Officer) and that expressly negates the “at-will”
employment status.


 


Please
feel free to call if you have any questions.






 



Autobytel Inc.


 


	

By:

	

/s/ Glenn
Fuller


	

Glenn
Fuller


	

EVP,
Chief Legal and Administrative Officer and Secretary







 


Accepted
and Agreed:


 


	

/s/ William
Ferriolo