Document:

Employment Agreement between Business Staffing, Inc. and Richard E. Stoddard

EXHIBIT 10.4 
EMPLOYMENT AGREEMENT 
OF 
RICHARD E. STODDARD 
 
This EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into effective as of, January 1 2003 by and between RICHARD
E. STODDARD (“Employee”) and BUSINESS STAFFING, INC. (the “Company”). 
 
RECITALS 
 
A.    Employee is currently employed by the Company pursuant to that certain Employment Agreement by and between the Company and Employee dated effective January 1, 2002 (the
“2002 Employment Agreement”). The Company leases Employee to Kaiser Ventures LLC (“Kaiser”) and he works as Kaiser’s President, Chief Executive Officer and Chairman of the Board of Managers. 
 
B.    The amount of time required by
Kaiser of Employee as a leased employee of the Company has been reduced, among other reasons, as a result of the sale of various assets by Kaiser and the restructuring of Kaiser Ventures Inc. into a limited liability company. Accordingly, Employee
and the Company have negotiated this Agreement to supercede and replace the 2002 Employment Agreement. 
 
C.    The intent of this Agreement is to set forth the terms and conditions of Employee’s employment by the
Company and his serving as a leased employee to Kaiser. 
 
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 
1.    EMPLOYMENT, POSITIONS AND DUTIES.    The Company hereby
employs Employee upon the terms and conditions set forth in this Agreement. Employee acknowledges and agrees that he will be a leased employee to Kaiser. Employee’s positions with Kaiser as a leased employee shall be President, Chief Executive
Officer and Chairman of the Board. In such capacities, Employee shall have the responsibilities and duties normally incident to such positions, including, but not limited to, those duties and responsibilities set forth in Schedule
“A” attached hereto and incorporated herein by this reference and such other duties and responsibilities as may be reasonably assigned to him from time-to-time by the Company or Kaiser’s Board of Managers. Employee agrees to
devote whatever business time and attention is necessary to the discharge of his duties and responsibilities under this Agreement. Employee shall be able to engage in other business endeavors whether as an employee or consultant to another entity or
otherwise; provided, however: (i) no other endeavor of Employee will interfere with Employee’s ability to carry out his duties hereunder; and (ii) any such endeavor will shall not conflict with Employee’s duties and obligation under this
Agreement or his duties as an officer and a member of the Board of Managers of Kaiser, as determined in the reasonable opinion of the Board of Directors of this Company and in the reasonable opinion of the Board of Managers of Kaiser. Prior to
accepting or engaging in any endeavourer, Employee shall give the Board of Managers of the Company and of Kaiser written notice of the proposed endeavor describing in sufficient detail the work to be undertaken by Employee so as to allow the Board
of Managers of the Company and of Kaiser to make an informed decision on whether such proposed endeavor may violate the restrictions specified in clauses (i) and/or (ii) of this Paragraph 1. The Board of Managers of the Company and of Kaiser shall
make a 
 

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determination of Employee’s request as soon as reasonably possible. Notwithstanding the forgoing,
Employee shall not be required to seek advance consent of the endeavor if it is not reasonably anticipated to continue beyond thirty (30) days from inception and it clearly does not conflict with Employee’s duties and obligations under this
Agreement or as an officer and/or a member of the Board of Managers of the Company or Kaiser. 
 
2.    TERM AND CREDIT FOR PAST EMPLOYMENT.    Employee’s employment under the terms of this Agreement shall commence as of January 1, 2003, and shall
continue for a minimum of three (3) years from the effective date of this Agreement (“Initial Term”) unless sooner terminated as provided herein; provided, however, the term of this Agreement shall be automatically extended on a
month to month basis after the Initial Term until such time as Kaiser has disposed of all of its material assets unless otherwise earlier terminated as provided in this Agreement. Notwithstanding the date of the commencement of this Agreement, for
purposes of the calculation of benefits or for any other similar purpose, the Company shall credit Employee with the time he was employed by the Company, Kaiser or any predecessor of Kaiser. 
 
3.    BASE
SALARY.    Employee’s current annual base salary shall be reduced by One Hundred Thousand Dollars ($100,000) as of January 1, 2003. 
 
Prior to the first meeting of the Board of Managers in any calendar year, the Human Relations Committee of
the Board will review Employee’s salary and report its recommendations for any revision to the full Board at such meeting and will communicate its review to the Company. Employee’s annual base salary shall be adjusted effective as of
January 1 of each year, commencing January 1, 2004, by the increase in the consumer price index over the prior applicable year utilizing the Consumer Price Index for Urban Wage Earners and Clerical Workers, U.S. City Average, All Items, published by
the Bureau of Labor Statistics of the United Stated Department of Labor. The entire Board of Managers of Kaiser together with the Company have final responsibility for the review, approval or disapproval of any revisions to Employee’s annual
base salary. 
 
4.    BONUS
PROGRAM. 
 
a.    ANNUAL PERFORMANCE BONUS.    Employee acknowledges that Kaiser discontinued it historical annual performance bonus program for calendar years beginning in 2001 and
therefore, the Company is not assuming any annual performance bonus program. Employee acknowledges and agrees that any future bonus shall be in the total discretion of the Board of Managers of the Company, as approved by Kaiser if reimbursement for
any such bonus is sought from Kaiser. 
 
b.    RETENTION BONUS.    Provided Employee remains in the employ of the Company through and including June 30, 2003, the Company shall pay to Employee a bonus (“Retention
Bonus”) on that date equal to the sum of (i) one year’s annual base salary (based on Employee’s then current annual base salary, but in no event less than the base salary in effect on December 31, 2002, plus (ii) an amount equal
58.8% of the greater of Employee’s then current annual base salary or the base salary in effect on December 31, 2002, (this is equivalent to one year’s average annual percentage performance bonus while at Kaiser (or its predecessor) for
the five (5) years prior to and including the final annual performance bonus for 2000 under the former annual bonus program). 
 
5.    OPTIONS AND OTHER EQUITY RELATED INCENTIVES.    Employee shall be eligible for the
grant of incentive options, non-qualified options and other forms of unit or equity related 
 

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incentives (collectively “Equity Incentives”) from time-to-time in the discretion of the
Equity Option Committee of Kaiser. The timing, size and amount of any future Equity Incentives will be determined by the Equity Option Committee of Kaiser. 
 
It is acknowledged and agreed that all stock options granted to Employee by Kaiser or its predecessor prior to the date of this Agreement
are fully vested in Employee and all outstanding options have been converted to the right to receive Class A Units in Kaiser. 
 
6.    OTHER BENEFITS.    Employee will be entitled to participate in all benefits provided
by the Company to its employees and to senior executives in accordance with and subject to the Company’s policies and procedures as they may exist from time-to-time, including, but not limited to, medical and dental insurance, life insurance,
disability insurance, 401(k) savings plan, any pension or retirement plan, deferred compensation plan, education and seminar reimbursement, car allowance, and reimbursement of reasonable expenses for company business. These benefits shall be at
least at the same level as provided to Employee as of the day prior to the effective date of this Agreement except that contributions to the Company’s 401(k) savings plan, money purchase plan and supplemental executive retirement plan of the
Company shall be appropriately reduced to reflect the current compensation of Employee. Benefits shall also include life insurance for the benefit of Employee with a face amount of not less than that in effect as of December 31, 2002, with premium
paid in accordance with the Company’s policies in effect on December 31, 2002, except that the Company may self-insure if insurance is not available on a commercially reasonably basis. In addition, the Company shall only be responsible for the
payment of the premium for the first level (first one-third) of Employee’s life insurance benefit and the third level (the last one-third) of such coverage. Employee shall be responsible for the payment of the premium for the second level
(second 1/3) of coverage. Employee shall be entitled to four (4) weeks of paid vacation per year. 
 
7.    DEATH BENEFITS.    In the event of Employee’s death, Kaiser shall pay to
Employee’s personal representative or his estate, Employee’s salary and benefits through the end of the month in which the death occurred plus the compensation and benefits that would be payable to Employee upon termination without cause
as provided in Paragraph 12 of this Agreement, except that any compensation that would be payable to Employee for termination during the Initial Term as provided in Paragraph 12.d. of this Agreement shall not be payable upon death. The proceeds from
any life insurance shall be for the sole benefit of Employee’s designated beneficiaries or if there are no designated beneficiaries, Employee’s estate. Employee’s estate or personal representative shall have at least one (1) year
after the date of Employee’s death while in the employment of the Company in which to exercise all vested Equity Incentives, unless the terms of an Equity Incentive provides for a longer period of time. 
 
8.    DISABILITY
BENEFITS.    In the event of the disability of Employee for any reason, the Company shall continue to pay to Employee his salary and benefits less short-term disability payments until long-term disability payments are made to
Employee but in no event shall such salary and benefit payments continue to be paid directly by the Company for longer than six (6) months from the date of disability except as continued pursuant to any disability insurance. In addition, upon
permanent disability, the vesting of all retirement and deferral compensation plans and all outstanding Equity Incentives shall continue to occur for a period of two (2) years after the date of disability in the same manner as if Employee were still
employed by the Company and serving as a leased employee to Kaiser during that period. 
 
9.    DEDUCTIONS.    Applicable federal and state income taxes, social security contributions (FICA), Medicare contributions, medical insurance premiums
and any other 
 

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appropriate or customary deductions shall be withheld from any compensation paid to Employee by the
Company. 
 
10.    CONSTRUCTIVE TERMINATION.    Employee shall be deemed to have been constructively discharged upon the occurrence of any of the following events: 
 
a.    The assignment to Employee of duties
materially and adversely inconsistent with Employee’s positions at Kaiser as a leased employee as of the effective date of this Agreement. This includes a change in reporting responsibilities, authority including title, or responsibilities;
provided, however, a lateral transfer within Kaiser or to an Affiliate shall not be deemed a constructive termination; 
 
b.    Any requirement that Employee permanently relocate to an office more than 50 miles from the then location to
which he is assigned as of the effective date of this Agreement; and/or 
 
c.    Any failure to provide Employee with compensation and benefits in the aggregate on terms that are not materially less favorable than those enjoyed by Employee under this Agreement as of the
effective date of this Agreement, or the subsequent taking of any action that would materially reduce any of Employee’s compensation and benefits in effect as of the date of this Agreement unless such compensation and benefits are substantially
equally reduced for executive officers of the Company as a group (as measured by a percentage) or there is less than a ten percent (10%) reduction in compensation or benefits. 
 
then, at Employee’s option, exercisable within ninety (90) days of the date Employee knew, or should
have known exercising reasonable care, of the occurrence of any of the foregoing events and the expiration of any applicable cure period, Employee shall have the right to terminate his employment by written notice to the Company, and on the date of
such termination the Company will pay Employee the compensation and benefits described in Paragraph 11 below. 
 
Employee and the Company agree that the reduction of Employee’s time commitment and compensation from that specified in the 2002
Agreement to that as provided in this Agreement shall not be an actual or constructive termination of Employee by the Company. 
 
11.    COMPENSATION PAYABLE UPON ACTUAL OR CONSTRUCTIVE TERMINATION.    In the event
Employee is terminated by the Company or by Kaiser as a leased Employee for any reason (including a constructive termination) except for permanent disability or for cause, as defined below, the Company shall pay to Employee the following
compensation and Employee shall receive the following benefits as severance benefits: 
 
a.    if the termination is effective after March 31 of any year, an amount equal to the pro rata portion of the annual performance bonus, if any, that Employee would have been
eligible to earn for the year of termination based upon the performance bonus, if one is paid to his peers for the year of termination by action of the Company and the Board of Managers of Kaiser, assuming he would have received a percentage bonus
equal to the amount received by his peers; 
 
b.    an amount equal to the greater of Employee’s annual base salary in effect on the day immediately preceding the effective date of this Agreement or as of the date of termination; 
 

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c.    an amount equal to 58.8% of the greater of Employee’s annual base salary in effect as of the day immediately preceding the effective date of this Agreement (this is the equivalent to one year’s
average annual bonus percentage while at Kaiser (or its predecessor) for the five (5) years prior to and including the final annual percentage bonus for the year 2000 under the former annual bonus program) or as of the date of termination;

 
d.    if the termination
occurs during the Initial Term, the annual base salary that would have been paid to Employee for the balance of the Initial Term; 
 
e.    if not previously paid, the Retention Bonus due Employee under Paragraph 4(b) of this Agreement shall be
immediately paid as if Employee had continued to be employed by the Company through June 30, 2003; and 
 
f.    distributions, if any, on the Class C and Class D Units (which are fully vested) shall continue to be made in
accordance with their respective terms (which distributions can continue to be made to Employee beyond the date of Employee’s termination); 
 
g.    the Company shall continue to provide and pay its portion of all of Employee’s health, welfare, insurance
and other benefits for a period of twenty four (24) months following the date of termination, including the Company’s portion of any retirement and deferred compensation plan such as the Company’s 401(k) plan. After such termination,
Employee shall be entitled, for a period of three years to exercise his Equity Incentives as to any then vested, including any options vesting within one year of termination as provided in the next sentence, notwithstanding any other applicable
provision contained in any option agreement. In addition to the foregoing, with respect to any restricted Equity Incentives, Employee shall continue to vest in such securities for a period of one-year following termination; and 
 
Except for distributions on the Class C and Class D Units of
Kaiser, all amounts due Employee shall be payable in one lump sum or, at Employee’s option, over such period of time not to exceed twenty-four (24) months as Employee shall specify in written notice provided to the Company at least five (5)
days prior to the next date on which Employee would have been paid his base salary in the ordinary course of business but for his termination. Employee shall have no duty to seek other employment during this period of time and there shall be no
offset for any compensation paid to Employee from any other source. If the Company or an Affiliate of the Company desires to retain Employee as a consultant after termination of Employee’s employment, the parties shall negotiate the terms of
such consulting agreement which shall be documented in an agreement executed by the parties. 
 
12.    POSSIBLE REDUCTION IN CERTAIN BENEFITS. 
 
a.    Except as provided in Paragraph 12(b) below, Employee shall in no circumstances receive “payments in the
nature of compensation” from the Company which would result in “excess parachute payments” (as that term is defined in Sections 280G and 4999 of the Internal Revenue Code of 1954, as amended, or any equivalent or analogous term as
shall in the future be defined in any law or regulation governing the amount of severance compensation that may be paid without penalty to an officer of a company upon a change in control of the Company). In the event either Employee or the Company
shall be advised in writing by his or its counsel that Employee would receive excess parachute payments if all payments under all contacts between Employee and the Company were made, such opinion shall be confidentially disclosed to the other party.
If it is mutually determined that such payments would trigger the excess parachute payments 
 

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provisions, Employee shall receive only such compensation and benefits under his contracts with the
Company (not to exceed those permitted without constituting excess parachute payments) which he, in his sole discretion, has designated in written notice to the Company. Employee shall have a minimum of thirty (30) days in which to make such written
designation. In the event of a disagreement between the counsel of the respective parties as to whether a payment would result in excess parachute payments, such counsel shall jointly designate an independent tax counsel (whose fees shall be paid by
the Company) within 10 days who shall promptly make a conclusive determination of the matter. 
 
b.    Notwithstanding anything else to the contrary, in the event Employee is terminated pursuant to Paragraph 11 above, Employee shall have the right, in his sole discretion, to
elect to receive all or any part of the compensation payable to him upon termination (or which would have been due under Paragraph 11 but for a previous election under Paragraph 12(a)) without regard to whether any such amounts may constitute
“excess parachute payments.” If Employee fails to provide the Company a written designation within thirty (30) days, he shall be presumed to have elected to receive all compensation and benefits due him without regard to whether any such
compensation or benefits shall constitute “excess parachute payments.” 
 
c.     Nothing in this Paragraph 12 shall be construed or deemed to be a forfeiture of any compensation or benefits that Employee may elect not to accelerate due to any concern
about the receipt of “excess parachute payments.” 
 
13.    TERMINATION FOR CAUSE.    If the Company elects to terminate Employee’s employment for cause (as defined Paragraph 14 below), Employee’s employment will terminate on the
date fixed for termination by the Company and thereafter the Company will not be obligated to pay Employee any additional compensation, other than the compensation due and owing up to the date of termination. After such termination, Employee shall
be entitled, for a period of one hundred and twenty (120) days, to exercise any stock options or other stock related incentives that are vested as of the date of termination. 
 
14.    DEFINITION OF
“CAUSE.”    “Cause” for the purposes of this Agreement shall mean any of the following: 
 
a.    Willful breach by Employee of any provision of this Agreement, provided, however, if the breach is not a
material breach, the Company shall give Employee written notice of such breach and Employee shall have thirty (30) days in which to cure such breach. No written notice or cure period shall be required in the event of a willful and material breach of
this Agreement by Employee; 
 
b.    Gross negligence or dishonesty in the performance of Employee’s duties or possibilities hereunder; 
 
c.    Engaging in conduct or activities or holding any position that materially conflicts with the interest of, or
materially interferes with Employee’s duties and responsibilities to the Company, Kaiser or their Affiliates; or 
 
d.    Engaging in conduct which is materially detrimental to the business of the Company, Kaiser or their Affiliates.

 

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15.    VOLUNTARY TERMINATION.    Employee’s employment by the Company may be terminated at any time upon the parties’ mutual written agreement. In the event of a mutual
written agreement, Employee’s severance benefits shall be as set forth in such agreement. Upon termination of Employee by the Company for any reason (including a constructive termination) except for permanent disability or for cause, Employee
shall receive the compensation and benefits set forth in Paragraph 11 of this Agreement. In the event of Employee’s voluntary termination of employment, the Company shall not be obligated to pay Employee any additional compensation, other than
the compensation due and owing as through the date of termination and as may be required by law, as well as any distributions on the Class A, Class C and Class D Units of Kaiser held by Employee (which distributions can continue to be made to
Employee beyond the date of Employee’s termination). After such termination, Employee shall be entitled for a period of hundred and twenty (120) days to exercise any Equity Incentives that are vested as of the date of termination. 
 
16.    CONFIDENTIALITY.

 
a.    EMPLOYEE’S
OBLIGATIONS.    Employee agrees that (a) except as provided in this Agreement Employee shall maintain the confidential nature of any Proprietary Information received or acquired by him, and (b) Employee shall use such
Proprietary Information solely for the purpose of meeting his obligations under this Agreement and not in connection with any other business or activity. “Proprietary Information” means all oral, written or recorded information
about or related to the Company, Kaiser or any of their Affiliates or its or their technology, assets, liabilities, or business, whether acquired before or after the date hereof, and regardless of the manner in which it is acquired, together with
any documents or other materials prepared by Employee which contain or reflect such information. After termination of employment upon demand of the Company, or Kaiser, as applicable, Employee agrees to return or destroy any and all materials
containing any Proprietary Information. 
 
b.    COMPANY OBLIGATIONS.    The Company agrees that it shall maintain and provide information regarding Employee in accordance with generally accepted industrial and business
practices and that it will seek to require Kaiser to follow the same requirements. 
 
c.    LIMITATIONS ON CONFIDENTIAL OBLIGATIONS AND USE RESTRICTIONS.    The restrictions in Paragraphs 16(a) and (b) above do not apply to
information which the disclosing party can demonstrate (i) is then in the public domain by acts not attributable to such disclosing party or (ii) is hereafter received on an unrestricted basis by such disclosing party from a third party source who,
to such disclosing party’s knowledge after due inquiry, is not and was not bound by confidentiality obligations to the Company, Kaiser or any Affiliate thereof (in the case of Paragraph 15(a)) or to Employee (in the case of Paragraph 16(b)). In
addition, Employee and the Company and, Kaiser or any Affiliate is permitted to disclose any Proprietary Information as necessary in the defense or prosecution of any legal action. 
 
d.    ACTIONS IF DISCLOSURE REQUIRED.    If Employee is
required by law to make any disclosure otherwise prohibited hereunder, such party shall use its best efforts to provide the other with prompt prior notice where possible so that (a) the other party (with the reasonable cooperation of the party
required to make such disclosure) may seek an appropriate protection order or other remedy and/or (b) the parties can seek in good faith to agree on the appropriate scope and approach to disclosure. If a protective order or other remedy is not
obtained, the party required to make such disclosure may furnish only that portion of information protection hereby which it is legally compelled to disclose and shall use its reasonable efforts to obtain confidential treatment for all information
so disclosed. 
 

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e.    INJUNCTION.    Each party agrees that remedies at law may be inadequate to protect against breach of this Paragraph 16, and hereby agrees to the granting of injunctive
relief without proof of actual damage. 
 
17.    ARBITRATION OF DISPUTES.    If Employee and the Company cannot resolve a dispute (whether arising in contract or tort or any other legal theory, whether based on federal,
state or local statute or common law and regardless of the identities of any other defendants) that in any way relates to or arises out of this Agreement, the termination of Employee’s employment relationship with the Company or any Affiliate
thereof, (without limiting the generality of any other Paragraph herein), then such dispute shall be settled as follows: 
 
a.    The Company and Employee agree to jointly select a judicial officer who is affiliated with the Judicial
Arbitration and Mediation Service, or such other equivalent organization as the Company and Employee may mutually select, to act as the trier of fact and judicial officer in such dispute resolution; 
 
b.    If the Company and Employee are
unable to agree upon a particular judicial officer, then the decision shall be made by the chief executive officer of the Judicial Arbitration and Mediation Service, after consulting with the Company and Employee; 
 
c.    the Company and Employee shall have
the same rights of discovery as if the dispute were being resolved in the Superior Court of the State of California. However, the judicial officer shall, on his own motion, or the request of either the Company or Employee, have the authority to
extend or reduce the time periods therefore; and, 
 
d.    The judicial officer serving hereunder shall be designated as a referee under the provisions of Title VIII, Chapter 6 of the California Code of Civil Procedure (Sections 638 through 645. 1, inclusive).
Payment for the services of the judicial officer and the rights and procedure of appeal, and/or other review of the decision, shall be made as provided in such sections. 
 
The judicial officer shall have the right to grant injunctive relief, specific performance and other
equitable remedies. 
 
18.    MISCELLANEOUS. 
 
a.    ENTIRE AGREEMENT; AMENDMENTS.    This Agreement states the entire understanding and agreement between the parties with respect to its subject
matter as of the date of this Agreement, and may only be amended by a written instrument duly executed by Employee and the Company; and to the extent it directly impacts Kaiser, the written consent of Kaiser. 
 
b.    ASSIGNMENT.    This Agreement and the rights and obligations of Employee may not be sold, transferred, assigned, pledged or hypothecated by Employee. 
 
c.    NON-WAIVER.    Failure to insist upon strict compliance with any provision of this Agreement or the waiver of any specific event of non-compliance shall not be deemed to be
or operate as a waiver of such provision or any other provision hereof or any other event of non-compliance. 
 

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d.    BINDING EFFECT.    This Agreement shall be binding upon and inure to the benefit of the Company, its successors and assigns and, Employee’s heirs, successors, and legal
or personal representatives. 
 
e.    HEADINGS.    The headings throughout this Agreement are for convenience only and shall in no way be deemed to define, limit, or add to the meaning of any provision of this
Agreement. 
 
f.    CONTEXT.    Whenever required by the context, the singular shall include the plural, the plural the singular, and one gender such other gender as is appropriate.

 
g.    NOTICES.    All notices, request, demands, consents and other communications hereunder shall be transmitted in writing and shall be deemed to have been duly given when hand
delivered or sent by certified United States mail, postage prepaid, with return by certified requested, addressed to the parties as follows: 
 
Business Staffing, Inc. 
3633 E. Inland Empire Blvd., Suite 480 
Ontario, CA 91764

Attention: General Counsel 
 
Richard E. Stoddard 
30635 Palo Alta Drive 
Redlands, CA 92373 
 
h.    COSTS.    In any action taken to enforce the provisions of this Agreement, the prevailing party shall be reimbursed all costs incurred in such legal action
including reasonable attorney’s fees in such action. 
 
i.    SEVERABILITY.    If any provision or clause of this Agreement, as applied to any party or circumstances shall be adjudged by a court to be invalid or unenforceable, said
adjudication shall in no manner effect any other provision of this Agreement, the application of such provision to any other circumstances or the validity or enforceability of this Agreement. 
 
j.    DEFINITION OF AFFILIATE AND
ENFORCEABILITY BY KAISER.    The term “Affiliate” for purposes of this Agreement shall mean any person or entity now or hereafter in control, controlled by or in common control with the Company. It shall
also include any direct or indirect subsidiary of the Company and any company in which the Company has more than a ten percent (10%) ownership interest. The Parties agree that Kaiser shall be a third party beneficiary on this Agreement and shall
have the right to enforce its terms. 
 
k.    ACKNOWLEDGMENT REGARDING ISO’S.    Employee acknowledges that he is responsible for the tax consequences of all severance compensation he may receive and that certain
actions may need to be taken by Employee within limited periods of time to preserve the tax status of any incentive options. The Company makes no representation or warranty that any past or future grant of a stock option or Equity Incentive to
Employee qualifies as an incentive option. 
 
l.    GOVERNING LAW.    This Agreement shall be governed by and construed in accordance with the laws of the State of California. 
 

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IN WITNESS
WHEREOF, the parties hereto have executed this Employment Agreement to be effective as of the day and year first written above not withstanding the actual date of signature. 
 

	 “EMPLOYEE”
 RICHARD E. STODDARD
	 	 	 	 “COMPANY”
 BUSINESS STAFFING, INC.

	
	 /s/    RICHARD E.
STODDARD        

	 	 	 	 By:
	 	 /s/    TERRY L.
COOK        

	 Richard E. Stoddard
	 	 	 	 	 	 Terry L. Cook
 Vice President & Secretary

 
CONSENT OF
HUMAN RELATIONS COMMITTEE 
 
OF

 
KAISER VENTURES LLC 
 
TO 
 
RICHARD E. STODDARD EMPLOYMENT AGREEMENT 
 
The Human Relations Committee of Kaiser Ventures LLC
(“Kaiser”) hereby consents to the employment agreement between Business Staffing, Inc. (the “Company”) and Richard E. Stoddard dated effective January 1, 2003, as set forth above and the payment of all sums that may
be required of Kaiser to reimburse the Company under the terms of such agreement as provided in the Administrative Services Agreement between the Company and Kaiser dated as of January 1, 2003. 
 

	 KAISER VENTURES LLC
 HUMAN RELATIONS COMMITTEE

	
	 By:
	 	 /s/    TODD G.
COLE        

	 	 	 Todd G. Cole, Chairman

 
SCHEDULE
“A” 
 
RICHARD E. STODDARD

CHAIRMAN OF THE BOARD OF MANAGERS, CHIEF EXECUTIVE OFFICER & PRESIDENT 
 
These positions shall report directly to Kaiser Ventures LLC
(“Kaiser”) Board of Managers and the Company. The positions for Kaiser are to be filled by Business Staffing, Inc. through the services of Richard E. Stoddard. 
 
RESPONSIBILITIES: 
 
Even though a leased employee to Kaiser, this position has total responsibility for every facet of the strategy, planning, operation,
project implementation, performance and direction of Kaiser and all its subsidiaries. 
 
Within this framework of ultimate responsibility, Mr. Stoddard has delegated certain operational and implementation duties to the Executive Vice Presidents of Kaiser. Shown below are strategic
functions which will remain under the direct control of Mr. Stoddard as Chairman, CEO, and President: 
 

	 	•	 	Corporate planning and strategy. 

	 	•	 	Determination of the direction and goals of Kaiser. 

	 	•	 	Future growth opportunity decisions. 

	 	•	 	Development of all projects exit strategies. 

	 	•	 	Major corporate financial or other resource commitments. 

	 	•	 	All phases of investor relations. 

	 	•	 	Relationships with major shareholders. 

	 	•	 	All phases of the corporation’s legal strategy, including compliance with laws and regulations. 

	 	•	 	Outside auditor performance and relationship. 

	 	•	 	Corporate accounting policies and financial reporting responsibilities. 

	 	•	 	Corporate financing strategy and fiscal accountability. 

	 	•	 	Major joint venture partner relations. 

	 	•	 	Major negotiations on behalf of the corporation. 

	 	•	 	Financial analysis and modeling of corporate opportunities. 

	 	•	 	Political lobbying at the federal, State and local levels. 

	 	•	 	Public relations and corporate participation policy. 

	 	•	 	Agency relations and communications. 

	 	•	 	Mine Reclamation Corporation Management. 

	 	•	 	Establishment of policies for the conduct Kaiser’s business. 

	 	•	 	Oversee the implementation of corporate policy. 

	 	•	 	As chairman, conduct the meetings and business of the Board of Managers. 

	 	•	 	Implement the decisions of the Board of Managers. 

 

12Amendment Number 4 to Interactive Marketing Agreement

  Exhibit 10.51
  October 1, 2002
  Mr. Andrew F.
Donchak
 233 Avenida La Cuesta
 San Clemente, CA 92672
  Dear Mr. Donchak:
  Autobytel Inc. (the “Company”) and Andrew F. Donchak,
Executive Vice President and Chief Marketing Officer (“Executive”) hereby agree as follows:
  In the event of termination of the Executive by the Company without Cause (as defined in
Schedule I attached hereto) or by the Executive for Good Reason (as defined in Schedule I attached hereto), the Executive shall be entitled to a severance payment equal to one year’s base salary at the highest rate paid to Executive while
employed by the Company and Benefits (as defined in Schedule I hereto) for twelve months following termination.
  Upon a Change of Control (as defined in Schedule I hereto), the employment of
Executive, to the extent Executive is employed by the Company on the date of such Change of Control, shall extend for two years from such date.
  In the event the employment of Executive is terminated
during the six (6) month period immediately prior to, or the first twelve (12) months following a Change of Control either:  (i) by Executive for Good Reason; or (ii) by the Company other than for Cause, Disability (as defined in Schedule I
hereto) or death (it being understood that termination upon death or Disability shall not require any payments to Executive under this letter agreement), then the payments in the second paragraph hereof shall not apply and the Company shall, within
thirty (30) days of notice of termination to Executive, pay to Executive in a single lump-sum payment the base salary that would have been received by Executive if he had remained employed by the Company for two (2) years (calculated at the highest
base salary rate during his employment with the Company), and shall continue to pay Benefits for twelve months. 
 The terms and conditions of the stock option agreements between the Company and
Executive entered into prior to the date hereof shall incorporate the terms and conditions set forth on Schedule I hereto, which Schedule I terms and conditions shall govern such stock options, including to the extent of any conflict with the terms
and conditions of the stock option agreements entered into prior to the date hereof.
  Additionally, Executive will be eligible to participate in the Company’s health insurance plan and 401(k)
plan, and other benefit plans each in accordance with the terms of such plan. Executive shall be entitled to plan perquisites and benefits afforded to the other senior officers of the Company, in each case, in accordance with the plans governing
such programs.

   The provisions of this letter are severable which means that if any part of this letter is legally unenforceable, the other provisions shall remain fully valid and
enforceable.  This letter sets forth our complete understanding regarding the matters addressed herein and supersedes all previous agreements or understandings between Executive and the Company, whether written or oral, including, without
limitation, that certain letter agreement, dated July 28, 2000. 
  No modification, waiver, amendment, discharge or change of this letter, shall be valid unless the same is in writing and signed by
the party against whom enforcement of such modification, waiver, amendment, discharge, or change is sought.
  Any controversy or claim arising out of, or related to, this letter, or the breach
thereof, shall be settled by binding arbitration in the City of Irvine, California, in accordance with the rules then in effect of the American Arbitration Association, and the arbitrator’s decision shall be binding and final, and judgment upon
the award rendered may be entered in any court having jurisdiction thereof.  Each party hereto shall pay its or their own expenses incident to the negotiation, preparation and resolution of any controversy or claim arising out of, or related
to, this letter, or the breach thereof, provided, however, the Company shall pay and be solely responsible for any attorneys’ fees and expenses and court or arbitration costs incurred by the Executive as a result of a claim that
the Company has breached or otherwise failed to perform this letter or any provision hereof to be performed by the Company if the Executive prevails in the contest in whole or in part.
 This letter
shall be construed and enforced in accordance with the laws of the State of California.
  Please execute a copy of this letter confirming your acceptance of and agreement with the foregoing.

	  
 	  Sincerely,
 	  
 
	  
 	  
 	  
 
	  
 	  /s/ JEFFREY A. SCHWARTZ
 	  
 
	  
 	 
 	  
 
	  
 	  Jeffrey A. Schwartz
 President and CEO
 	  
 

  AGREED AND ACCEPTED:
 this 1st day of October, 2002.

	  /s/ ANDREW F. DONCHAK
 	  
 	  
 
	 
 	  
 	  
 
	 Andrew F. Donchak
 	  
 	  
 

   Schedule I
            (a)          Termination for Cause.  As of the date of the Executive’s termination for Cause (as
defined below), any unvested or unexercised portion of any Option shall terminate immediately and shall be of no further force or effect. As used herein, the term “for Cause” shall refer to the termination of the Executive’s
employment as a result of any one or more of the following:  (i)  any conviction of, or pleading of nolo contendre by, the Executive for any crime or felony; (ii) any gross willful misconduct of the Executive which has a materially
injurious effect on the business or reputation of the Company; (iii) the  gross dishonesty of the Executive which has a materially injurious effect on the business or reputation of the Company; or (iv) failure to consistently discharge his
duties under this Agreement which failure continues for thirty (30) days following written notice from the Company detailing the area or areas of such failure. For purposes hereof, no act or failure to act, on the part of the Executive, shall be
considered “willful” if it is done, or omitted to be done, by the Executive in good faith or with reasonable belief that his action or omission was in the best interest of the Company.  The Executive shall have the opportunity to cure
any such acts or omissions (other than item (i) above) within fifteen (15) days of the Executive’s receipt of notice from the Company finding that, in the good faith opinion of the Company, the Executive is guilty of acts or omissions
constituting “Cause”.
           (b)          Termination Without Cause or for Good
Reason.  As of the date of the Executive’s termination by the Company without Cause or by the Executive for Good Reason (as defined below), any unvested portion of any Option shall become immediately and fully vested and all Options,
including any previously vested but unexercised portions of any Options, shall be exercisable from such termination of employment until the date that is two (2) years following the termination date.  The term “termination without
Cause” shall mean the termination of the Executive’s employment for any reason other than those expressly set forth in the definition “for Cause” above, or no reason at all, and shall also mean the Executive’s decision to
terminate his employment with the Company by reason of any act, decision or omission by the Company or the Board that: (A) materially modifies, reduces, changes, or restricts the Executive’s salary, bonus opportunities, options or other
compensation benefits or perquisites, or the Executive’s authority, functions, services, duties, rights, and privileges as, or commensurate with the Executive’s position as, Executive Vice President and Chief Marketing Officer of the
Company; (B) relocates the Executive without his consent from the Company’s offices located at 18872 MacArthur Boulevard, Irvine, California, 92612-1400 to any other location in excess of fifty (50) miles beyond the geographic limits of Irvine,
California; (C) deprives the Executive of his titles and positions of Executive Vice President and Chief Marketing Officer of the Company; or (D) involves or results in any failure by the Company to comply with any provision of the Employment
Agreement or any Option, other than an isolated, insubstantial and inadvertent failure not occurring in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the Executive (each a “Good Reason”).

           (c)          Termination due to Death or Disability.  As of the date of the
Executive’s termination due to death or Disability (as defined below), any unvested portion of any Option

   shall become immediately and fully vested and all Options, including any previously vested but unexercised portion of any Options, shall be exercisable from the date of such
termination of employment until two (2) years following the termination date. If the Company determines in good faith that the Disability of the Executive has occurred, it shall give written notice to the Executive of its intention to terminate his
employment.  In such event, the Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such notice by the Executive, provided that, within the thirty (30) days after such receipt, the Executive
shall not have returned to full-time performance of his duties.  For purposes hereof, “Disability” shall mean the inability of the Executive to perform his duties to the Company on account of physical or mental illness or incapacity
for a period of ninety (90) consecutive calendar days, or for a period of one hundred eighty (180) calendar days, whether or not consecutive, during any three hundred sixty-five (365) day period. 
            (d)          Termination Without Good Reason.  As of the date of any voluntary termination of employment
with the Company by the Executive other than due to death or Disability, and other than for Good Reason, any unvested portion of any Option shall terminate immediately and shall be of no further force or effect.  Any previously vested but
unexercised portion of any Option shall remain exercisable from the date of such termination of employment until the second anniversary of the termination date.
           (e)          Termination Prior to or Following a Change of Control.  In the event of a Change of Control
(as defined below) while the Executive is employed by the Company, or the Executive’s employment is terminated by the Company without Cause or by the Executive for Good Reason within six (6) months prior to a Change of Control, any unvested
installment of any Option shall immediately vest and become exercisable from the date of such Change of Control, or if earlier the date of termination, until the date that is two (2) years following:  (i) the Change of Control date, or (ii) if
earlier the date of termination.  For purposes hereof,  “Change of Control” means the occurrence of any of the following: (i) the sale, lease, transfer, conveyance or other disposition (other than by way of merger or
consolidation but not including any initial or secondary public offering) in one or a series of related transactions of all or substantially all of the assets of the Company taken as a whole to any person (a “Person”) or group of persons
acting together (a “Group”) (other than any of the Company’s wholly-owned subsidiaries or any Company employee pension or benefits plan), (ii) the adoption of a plan relating to the liquidation or dissolution of the Company, (iii) the
consummation of any transactions (including any stock or other purchase, sale, acquisition, disposition, merger or consolidation, but not including any initial or secondary public offering) the result of which is that any Person or Group (other than
any of the Company’s wholly-owned subsidiaries or any Company employee pension or benefits plan), becomes the beneficial owners of more than 40 percent of the aggregate voting power of all classes of stock of the Company having the right to
elect directors under ordinary circumstances; or (iv) the first day on which a majority of the members of the Board are not individuals who were nominated for election or elected to the Board with the approval of two-thirds of the members of the
Board just prior to the time of such nomination or election. 
           “Benefits” shall mean participation, including eligible
dependents, in any Company medical, dental or other health plans.

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