SEC Connect





 











Exhibit 10.29




 



	


	
Autobytel
Inc.

Human
Resources Department


18872
MacArthur Blvd, Suite 200


Irvine,
CA 92612-1400


Voice:
(949) 225-4572









 


	
 DATE:         



	
 January
22, 2016

 


	
 TO:



	
 John
D. Steerman

 


	
 FROM: 



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

 


	
 CC:  



	
 Jose
Vargas - EVP, Chief Revenue Officer

 


	
 RE: 



	
 Promotion







 


It is a
pleasure to inform you of your promotion to EVP, Mobile, Lead
Operations & Product Dev at Autobytel Inc. In this position you
will report to Jose Vargas - EVP, Chief Revenue Officer. Following
is a summary of your adjustment in your compensation associated
with your promotion.


 


	
New
Position:

	
EVP, Mobile, Lead
Operations & Product Development


	
Semi-monthly
Rate: 


	
$12,125.00
($291,000 Approximate Annually)


	
Effective
Date:

	
January 1,
2016


	
 

	
 


	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 in its sole
discretion for each annual period, which may be up to 60% your
annualized rate (i.e., 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, an 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/ John D.
Steerman                                                    
 
      



John D.
Steerman