**Exhibit 10.197**

**DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.**

**DEFERRED COMPENSATION PLAN**

**ACCOUNT WITH BANK OF OKLAHOMA**

2006 Performance Share Plan Award

 

**DTAG Deferred Comp Plan 000601**

 

 

**PARTICIPANT INFORMATION****:**

 

Participant Name (print or type):      Gary L. Paxton                              

 

 

**ELECTION OF DEFERRED COMPENSATION PLAN PARTICIPATION**

 

| 1. | x   I elect to participate in the Deferred Compensation Plan. Currently, tax law requires that any amount deferred into a Deferred Compensation account is subject to Social Security and Medicare taxes at the time of deferral but is not subject to these taxes at the time of withdrawal. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

 

|   | x   I elect to defer    0    % or $     None    shares of that amount awarded to me under the 2006 Performance Share                    Grant Agreement payable in 2009. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

 

| 2. | x   I elect payment of my benefit to be in a: |
|----|---------------------------------------------------------|

 

     X    (a) Single lump sum payment upon separation from the company

 

           (b) Single lump sum payment on or about                                                           

 

______(c) Single lump sum payment the earlier of (i) separation from the company or

 

|   | (ii) on or about ____________________________ |
|--------|-----------------------------------------------|

 

|   | ______(d) | Annual installments over a period not to exceed                     (up to a maximum of 10 years). I hereby elect the date on which my initial payment will be made to                    be                 . |
|--------|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

 

Note: For certain key employees the law requires that payment of any benefit payable upon separation from service may not be made earlier than six months after the separation.

 

| 3. | x   Upon a “Change of Control” with respect to the Employer, I hereby elect to have the balance of my Deferred Compensation Plan account distributed to me or my designated beneficiary(ies) in lump sum form, subject to the discretion of the Board, in accordance with the terms of the                    Plan. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

 

Please consult with your tax advisor regarding the tax consequences of this Plan to you. Neither the sponsor of this Plan, nor any of the sponsor’s affiliates provide any assurances of the tax results of this Plan in the Participant’s particular situation or assume any responsibility in this regard.

 

----

 

**AUTHORIZATION:**

 

Participant Signature:   /s/ Gary L. Paxton                                                            Date:June 30, 2008

 

Accepted and agreed to by Employer’s Authorized Representative.

 

By:   /s/ Stephen        M. Caldwell                                                                          Date:June 30, 2008