Document:

Second Amendment to Employment Agreement

 Exhibit 10.1 
 SECOND AMENDMENT TO EMPLOYMENT AGREEMENT 
 This SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (this
“Amendment”) is made and entered into as of the 16th day of March, 2007, by and between Autobytel Inc., a Delaware corporation (the “Company”), and Michael Schmidt (the “Executive”). 
 RECITALS 
 WHEREAS, the Company and
the Executive entered into an Employment Agreement, dated as of May 30, 2005, whereby the Executive was engaged as the Company’s Executive Vice President and Chief Financial Officer (the “Original Employment Agreement”).

 WHEREAS, pursuant to the terms of the Original Employment Agreement, the Term of the Executive’s employment renewed through
May 30, 2007. 
 WHEREAS, the Company and Executive entered into an Amendment to the Original Employment Agreement, dated as of
April 26, 2006 (the “First Amendment”; the Original Employment Agreement and the First Amendment being collectively referred to as the “Employment Agreement”), to, among other things, allow the Executive and the Company more
flexibility in transitioning the Executive’s employment responsibilities within the Company. 
 WHEREAS, the Company and Executive
desire to further amend the Employment Agreement to, among other things, alter the scope of the Executive’s employment with the Company and provide for the Executive’s departure from the Company. 
 AGREEMENT 
 NOW, THEREFORE, in
consideration of the mutual agreements contained herein, and with reference to the above recitals, the parties hereby agree as follows: 
  

	1.	Deemed Termination. Notwithstanding anything to the contrary in Section 6.2 of the Employment Agreement, for the purposes of the Executive’s entitlement to
severance, this amendment will be and hereby is deemed a termination without cause under Section 6.2 of the Employment Agreement by the Company upon thirty (30) days notice with the last such date of employment being the expiration of the
Term (as defined below). The parties confirm and acknowledge that as a result of such termination, the Executive shall, subject to the separate receipt of a signed release for each payment due under clauses (a) and (b) below by the
Executive in the form set forth in Exhibit A and non-revocation of each such release as provided therein, be entitled on the expiration of the revocation period relating to the appropriate release to the following and only to the following:

  

	 	(a)	A severance payment of Three Hundred and Seventy-Five Thousand Dollars ($375,000.00) relating to the first release; and 

	 	(b)	A pro-rated bonus with respect to the year 2007 in the amount of Thirty-Six Thousand Four Hundred and Fifty-Eight Dollars ($36,458.00) relating to the second release.

 The release in respect of clause (a) will be provided on the date hereof and the release in respect of clause
(b) will be provided on May 31, 2007. 
  

	2.	Amendment to Article 1, Section 1.2 of the Employment Agreement. Article 1, Section 1.2 of the Employment Agreement is hereby amended by deleting the text of
Section 1.2 in its entirety and inserting in lieu thereof the following: 

 1.2 TERM OF EMPLOYMENT. The Company hereby
employs the Executive from March 16, 2007 to the earlier of (A) the date the Executive determines to sever his employment relationship with the Company or (B) May 31, 2007 (the “Term”), whereupon the Term will expire
without further action by either party. 
  

	3.	Amendment to Article 2, Section 2.1 of the Employment Agreement. Article 2, Section 2.1 of the Employment Agreement is hereby further amended by deleting the text
of Section 2.1 in its entirety and inserting in lieu thereof the following: 

  

	 	2.1	DUTIES. 

  

	 	(a)	From the date hereof until April 13, 2007, the Executive will no longer be an officer of the Company (and hereby resigns from the position of Executive Vice President and Chief
Financial Officer of the Company) and will instead be considered a non-officer, full-time employee within the financial group of the Company. 

  

	 	(b)	From April 14, 2007 until May 31, 2007, the Executive will become a part-time employee of the Company with the obligation to work Tuesdays, Wednesdays and Thursdays only.
The Executive’s duties from March 16, 2007 through May 31, 2007 will be directed by the Chief Executive Officer or Chief Financial Officer. 

  

	4.	Amendment to Article 3, Sections 3.1 and 3.2 of the Employment Agreement. Article 3 of the Employment Agreement is hereby amended by deleting the text of Sections 3.1 and 3.2
in their entirety and inserting in lieu thereof the following: 

  

	 	3.1	SALARY AND BENEFITS. 

  

	 	(a)	From March 16, 2007 until April 13, 2007, the Executive will be paid a salary but no bonus, on a pro-rated basis, based on an annual compensation rate of Two Hundred and
Fifty Thousand Dollars ($250,000.00), to be paid in substantially equal bimonthly installments in accordance with the normal payroll practices of the Company. For the avoidance of doubt, the Executive’s benefits under Section 4 of the
Employment Agreement will remain in effect and unchanged throughout this period. In addition, the Executive’s commuting costs will be paid for by the Company during this period consistent with past practices, including appropriate gross up for
any income or employment taxes levied thereon. 

	 	(b)	From April 14, 2007 until May 31, 2007, the Executive will no longer be entitled to a salary or bonus but instead will be paid One Thousand Four Hundred and Seventy
Dollars ($1,470.00) per day for each full day worked during this period. From April 14, 2007 and up to and until one year following the date the Executive’s employment by the Company actually terminates, and notwithstanding anything else
to the contrary in the Employment Agreement, the Executive will continue to receive all benefits provided for under Section 4.1 of the Employment Agreement, except to the extent that during such period the Executive receives substantially
similar (or better, from the Executive’s perspective) benefits from a new employer. 

  

	 	3.2	Intentionally Omitted. 

  

	5.	Amendment to Article 5, Section 5.2 of the Employment Agreement. Article 5, Section 5.2 of the Employment Agreement is hereby amended by substituting the date of
May 31, 2007 for the date of June 30, 2006 in the first paragraph of said Section. 

  

	6.	Options. The parties confirm and acknowledge that all unvested options held by the Executive, other than those granted under Section 3.7 of the Employment Agreement,
shall continue to vest in accordance with their terms and the stock option plans they were granted under until the Executive’s employment by the Company is terminated and thereafter, to the extent vested, shall be exercisable until 90 days or
three months following such termination date, as set forth in the applicable option agreement. The parties confirm and acknowledge that the options granted under Section 3.7 of the Employment Agreement will become fully vested on the last day
of the Term and will be exercisable for two years following such date. 

  

	7.	Full Force and Effect. Except as amended or otherwise modified by Sections 1, 2, and 3 hereof, the Employment Agreement remains in full force and effect.

  

	8.	Governing Law. This Amendment shall be construed, interpreted and governed by the laws of the State of California, without giving effect to the principles of conflict of laws
thereof. 

  

	9.	Notices. Any notice given in connection with this Amendment shall be made in writing and shall be considered effected if delivered in accordance with the provisions of
Section 9.4 of the Employment Agreement, as if such notice had been given in connection therewith. 

  

	10.	Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same
instrument. 

  

	11.	Definitions. All capitalized terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the Employment Agreement. 

[Signature page follows] 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.

  

			
	 AUTOBYTEL INC.

		
	 By:
	 	 /s/ James E. Riesenbach

	 Name:
	 	James E. Riesenbach
	 Title:
	 	CEO

  

	
	MICHAEL SCHMIDT
	
	 /s/ Michael Schmidt

 EXHIBIT A 
 SEPARATION AGREEMENT AND RELEASE 
 It is hereby agreed by and between you, Michael Schmidt (for
yourself, your spouse, family, agents and attorneys) (jointly, “You”), and Autobytel Inc., its predecessors, successors, affiliates, directors, officers, shareholders, fiduciaries, insurers, employees and agents (jointly, the
“Company”), as follows: 
 1. You acknowledge that your employment with the Company [will end] [ended] effective
May 31, 2007, and that you will perform no further duties, functions or services for the Company subsequent to that date. 
 2. You
acknowledge and agree that you have received all vacation pay and other compensation due you from the Company as a result of your employment with the Company and your separation from employment, including, but not limited to, all amounts required
under your Employment Agreement with the Company dated May 30, 2005 (the “Employment Agreement”) as amended on April 26, 2006 (the “First Amendment”) and as further amended on March 16, 2007 (the
“Second Amendment,” and the Employment Agreement as so amended, the “Amended Employment Agreement”), other than those amounts payable pursuant to Paragraph 3 below. You acknowledge and agree that the Company owes
you no additional wages, commissions, bonuses, vacation pay, severance pay, expenses, fees, or other compensation or payments of any kind or nature, other than as provided in this Agreement and those amounts, if any, payable pursuant to Paragraph 3
below. All benefits for which you are eligible pursuant to the Amended Employment Agreement will remain in effect for the periods set forth therein. 
 3. In exchange for your promises in this Agreement and the Amended Employment Agreement, including the release of claims set forth below, if you sign and do not revoke this Agreement, the Company will pay you all
amounts due to you under the Second Amendment in connection with your providing a release to the Company as contemplated thereby and with respect to the release relating to clause (b) of Section 1 of the Second Amendment the termination of
your employment relationship with the Company, minus legally required state and federal payroll deductions. The payment provided for in this paragraph will be made in the time periods required by the Second Amendment, or if not specified therein, by
the Amended Employment Agreement and, if no time is specified, within twenty-two (22) days of the date of this Separation Agreement and Release. 
 4. You represent and warrant that you have returned to the Company any and all documents, software, equipment (including, but not limited to, computers and computer-related items), and all other materials or other
things in your possession, custody, or control which are the property of the Company, including, but not limited to, Company identification, keys, and the like, wherever such items may have been located; as well as all copies (in whatever form
thereof) of all materials relating to your employment, or obtained or created in the course of your employment with the Company. 

 5. You hereby represent that, other than those materials you have returned to the Company pursuant to
Paragraph 4 of this Agreement, you have not copied or caused to be copied, and have not printed-out or caused to be printed-out, any software, computer disks, or other documents other than those documents generally available to the public, or
retained any other materials originating with or belonging to the Company. You further represent that you have not retained in your possession, custody or control, any software, documents or other materials in machine or other readable form, which
are the property of the Company, originated with the Company, or were obtained or created in the course of or relate to your employment with the Company. 
 6. You shall keep confidential, and shall not hereafter use or disclose to any person, firm, corporation, governmental agency, or other entity, in whole or in part, at any time in the future, any trade secret,
proprietary information, or confidential information of the Company, including, but not limited to, information relating to trade secrets, processes, methods, pricing strategies, customer lists, marketing plans, product introductions, advertising or
promotional programs, sales, financial results, financial records and reports, regulatory matters and compliance, and other confidential matters, except as required by law and as necessary for compliance purposes. These obligations are in addition
to the obligations set forth in Article 8 of the Amended Employment Agreement which shall remain binding on you. 
 7. You agree that you
have not and will not at any time reveal to anyone, including any former, present or future employee of the Company, the fact, amount, or the terms of this Agreement, except to your immediate family, legal counsel and financial advisor, or as
required by law and as necessary for compliance purposes. The Company may disclose the terms of this Agreement and file this Agreement as an exhibit to its public filings if it is required to do so under applicable law or as necessary for compliance
purposes. 
 8. In consideration for the payment provided for in Paragraph 3, you unconditionally release and forever discharge the Company,
and the Company’s current, former, and future controlling shareholders, subsidiaries, affiliates, related companies, predecessor companies, divisions, directors, trustees, officers, employees, agents, attorneys, successors, and assigns (and the
current, former, and future controlling shareholders, directors, trustees, officers, employees, agents, and attorneys of such subsidiaries, affiliates, related companies, predecessor companies, and divisions) (referred to collectively as
“Releasees”), from any and all known and unknown claims, demands, actions, suits, causes of action, obligations, damages and liabilities of whatever kind or nature and regardless of whether the knowledge thereof would have
materially affected your agreement to release the Company hereunder, that arise out of or are related to (a) the Company’s failure to make any payments required under the Amended Employment Agreement, and (b) those arising under
the Age Discrimination in Employment Act (“ADEA”). The Release will not waive the Executive’s rights to indemnification under the Company’s certificate of incorporation or by-laws or any written agreement between the Company and
the Executive. 
 With respect to the various rights and claims under the ADEA being waived by you in this Agreement, you specifically
acknowledge that you have read and understand the provisions of paragraphs 12, 13, and 14 below before signing this Agreement. This general release does not cover rights or claims under the ADEA arising after you sign this Agreement. 

 9. You represent and warrant that you have not filed, and agree that you will not file, or cause to be
filed, any complaint, charge, claim or action involving any claims you have released in the foregoing paragraph. This promise not to sue does not apply to claims for breach of this Agreement. You agree and acknowledge that if you break this promise
not to sue, then you will be liable for all consequential damages, including the legal expenses and fees incurred by the Company or any of the Releasees, in defending such a claim. 
 10. The Company hereby represents and warrants that concurrently with your execution and delivery of this Agreement, the Company has paid to you any and
all amounts under the Amended Employment Agreement and the Second Amendment that are required to be paid to you by the Company as of the date hereof, excluding, without limitation, any amounts required to be paid under this Agreement. 
 11. Excluded from this Agreement are any claims or rights that cannot be waived by law, including the right to file a charge of discrimination with an
administrative agency. You agree, however, to waive your right to any monetary recovery in connection with such a charge. 
 12. You
acknowledge that you have hereby been advised in writing to consult with an attorney before you sign this Agreement. You understand that you have twenty-one (21) days within which to decide whether to sign this Agreement, although you may sign
this Agreement at any time within the twenty-one (21) day period. If you do sign it, you also understand that you will have an additional 7 days after you sign to change your mind and revoke the Agreement, in which case a written notice of
revocation must be delivered to Vice President Human Resources or comparable title, Autobytel Inc., 18872 MacArthur Blvd., Irvine, California 92612-1400, on or before the seventh (7th) day after your execution of the Agreement. You understand
that the Agreement will not become effective until after that seven (7) day period has passed. 
 13. You acknowledge that you are
signing this Agreement knowingly and voluntarily and intend to be bound legally by its terms. 
 14. You hereby acknowledge that no promise
or inducement has been offered to you, except as expressly stated above and in the Amended Employment Agreement and the Second Amendment, and you are relying upon none. This Agreement, the Amended Employment Agreement and the Second Amendment
represent the entire agreement between you and the Company with respect to the subject matter hereof, and supersede any other written or oral understandings between the parties pertaining to the subject matter hereof and may only be amended or
modified with the prior written consent of you and the Company. 
 15. You certify that you have not experienced a job-related illness or
injury for which you have not already filed a claim. 
 16. If any provision of this Agreement is held to be invalid, the remainder of the
Agreement, nevertheless, shall remain in full force and effect in all other circumstances. 

 17. This Agreement does not constitute an admission that the Company or any other Releasee has violated
any law, rule, regulation, contractual right or any other duty or obligation. 
 18. This Agreement is made and entered into in the State of
California and shall in all respects be interpreted, enforced, and governed under the law of that state, without reference to conflict of law provisions thereof. The language of all parts in this Agreement shall be construed as a whole, according to
fair meaning, and not strictly for or against any party. 
 PLEASE READ CAREFULLY. THIS AGREEMENT INCLUDES THE RELEASE OF CERTAIN CLAIMS.

  

									
	Dated:                    , 2007	 		 	  

		 		 		 	Michael Schmidt
			
	Dated:                    , 2007	 		 	AUTOBYTEL INC.
					
		 		 		 	By:	 	  

		 		 		 	Name of executive:
		 		 		 	Title:Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 EMPLOYMENT AGREEMENT to begin on March 20, 2007, by and between UTEK
CORPORATION, a Delaware corporation, having an office at 2109 East Palm Avenue, Tampa, Florida 33605 (hereinafter referred to as “UTEK”), and Doug Schaedler (hereinafter referred to as “Employee”): 
 WHEREAS, UTEK desires to employ Employee in the position as Chief Operating Officer (COO) and Chief Compliance Officer (CCO); and 
 WHEREAS, Employee is willing and capable to be employed in said position in the manner provided for herein, and to perform all of the duties of
the COO and CCO of UTEK upon the terms and conditions herein set forth; 
 NOW, THEREFORE, in consideration of the promises and mutual
covenants herein set forth it is agreed as follows; 
 1. Employment of Employee. UTEK hereby employs Employee as
Chief Operating Officer and Chief Compliance Officer. 
 2. Term. The term of this Agreement shall commence on March 20,
2007 (the “Commencement Date”) and expire one year from such date, unless sooner terminated or renewed as provided hereunder. This contract will automatically renew for an additional one year period unless either party notifies the other
party 30 days prior to the expiration of the term of this contract and the same compensation as set forth in Paragraph 4, excluding the stock options as provided in Paragraph 4 (iii) , of their desire not to renew the current contract. During
the term hereof, Employee shall devote substantially all of his business time and efforts to UTEK and its subsidiaries and affiliates. 
 3. Duties. The Employee shall perform those functions generally performed by persons of such title and position, shall perform any and all related duties, and shall be available to confer and consult with and advise the
officers and directors of UTEK at such times that may be required by UTEK. 
 4. Compensation. Employee shall be paid as
follows: 
 a. Employee shall be paid a salary of two hundred and twenty-five thousand dollars ($225,000.00) per year, payable in monthly
installments; and 
 b. In addition UTEK shall provide: 
 (i) Pay a cash bonus to Employee at six month intervals. The amount of this discretionary bonus will be determined by the CEO in
conjunction with the compensation committee of the board of directors. 
 (ii) Employee may participate in all benefit plans
provided by UTEK. 
 (iii) Employee shall be granted 100,000 stock options at the closing market price at the close of
business on March 20, 2007, according to the terms of UTEK’s employee stock option program. This is a one-time grant and will no additional options 

  

 Page 1 of 6 

 
will be granted with any renewals of this contract. In addition, all stock options held by Mr. Schaedler accelerate and become immediately vested upon a
change of control, A “change of control” occurs as defined in the employment agreement when: (i) a person or group becomes the beneficial owner of more than 30% of the Company’s outstanding securities; (ii) the Company
consummates a merger in which it is not the surviving entity; or (iv) substantially all of the Company’s assets are sold or the Company’s stockholders approve the dissolution or liquidation of the Company. 
 (iv) In the event of termination by the Company, other than for cause, Employee shall be entitled to a one time lump sum payment equal to
90 days of compensation. 
 5. Confidential Information 
 a. The Employee has acquired and will acquire information and knowledge respecting the intimate and confidential affairs of the Company (for this purpose
including all subsidiaries and affiliates, including without limitation confidential information with respect to the Company’s customer lists, technologies, business methodology, business techniques, promotional materials and information, and
other similar matters treated by the Company as confidential (the Confidential Information). Accordingly, the Employee covenants and agrees that during his employment by the Company (whether during the Term hereof or otherwise) and thereafter, the
Employee shall not, without the prior written consent of the Company, disclose to any person, other than a person to whom disclosure is reasonably necessary or appropriate in connection with the performance by the Employee of the Employee’s
duties hereunder, any Confidential Information obtained by the Employee while in the employ of the Company. 
 b. The Employee agrees that all
memoranda, notes, records, data base information, papers or other documents and all copies thereof relating to the Company’s operations or business, some of which may be prepared by the Employee, and all objects associated therewith in any way
limited by the Employee shall be the Company’s property. This shall include, but is not limited to, documents and objects concerning any customer contracts, manuals, mailing lists, advertising materials, and all of their materials and records
of any kind that may be in the Employee’s possession or under the Employee’s control. The Employee shall not, except for the Company’s use, copy or duplicate any of the aforementioned documents or objects (except for the purpose of
performing Employee’s duties) nor remove them from the Company’s facilities, nor use any information concerning them except for the covenants and agrees that the Employee will deliver to the Company upon termination of the Employee’s
employment, or any other time at the Company’s request. 
 c. The Employee shall deliver to the Company or its designee at the
termination of his employment all data, correspondence, memoranda, notes, records, drawings, sketches, plans, customer lists, product compositions, and other documents and all copies thereof, made, composed or received by the Employee, solely or
jointly with others, that are in the Employee’s possession, custody, or control at termination and that are related in any manner to the past, present, or anticipated business or any member of the Company or one its subsidies. In this regard,
the Employee hereby grants and conveys to the Company all right, title, and interest in and to, including without limitation, the right to possess, print, copy, and sell or otherwise dispose of, any reports, 

  

 Page 2 of 6 

 
records, papers, summaries, photographs, drawings or other documents, and writings, and copies, abstracts or summaries thereof, that may be prepared by the
Employee or under his direction or that may come into his possession in any way during the term of his employment with the Company that relate in any manner to the past, present or anticipated business of any member of the Company or one its
subsidies. 
 6. Covenant Not to Compete. 
 a. The Employee covenants and agrees that during the Employee’s employment by UTEK (whether during the Term hereof or otherwise), and thereafter for a period of one (1) year following the termination of the
Employee’s employment with the UTEK, the Employee will not: 
 (i) directly or indirectly engage in, continue in or carry
on the business of any corporation, partnership, firm or other business organization which is now, becomes or may become a direct competitor of the UTEK in its business, including owning or controlling any financial interest in, any corporation,
partnership, firm or other form of business organization which competes with or is engaged in or carries on any aspect of such business or any business substantially similar thereto; 
 (ii) consult with, advise or assist in any way, whether or not for consideration, any corporation, partnership, firm or other business
organization which is now, becomes or may become a competitor of the UTEK during the Employee’s employment with the UTEK; 
 (iii) engage in any practice the purpose of which is to evade the provisions of this Agreement or to commit any act which is detrimental to the successful continuation of, or which adversely affects, the business of the UTEK. 
 b. The Employee agrees that the geographic scope of this covenant not to compete shall extend to the geographic area where the Company’s customers
conduct business or are located at any time during the Term of this Agreement. For the purposes of this Agreement, “Customers” means any person, university or entity to which the Company provides or has provided services within a period of
one (1) year prior to the Employee’s termination of services for the furtherance of such customer’s business within such period of one (1) year the Company has pursued or communicated with for the purposes of obtaining business
for the Company. 
 c. In the event of any breach of this covenant not to compete, the Employee recognizes that the remedies at law will be
inadequate and that in addition to any relief at law which may be available to the Company for such violation or breach and regardless of any provisions contained in this Agreement, the Company shall be entitled to equitable remedies (including an
injunction) and such other relief as a court may grant after considering the intent of this section. In any action or proceeding by the Company to obtain a temporary restraining order and/or preliminary injunction to enforce the covenant, the
Employee hereby agrees that the Company shall not be required to put an injunction bond in excess of One Thousand Dollars ($1,000.00) in order to obtain the temporary restraining order and/or preliminary injunction. It is further acknowledged and
agreed that the existence of any claim 

  

 Page 3 of 6 

 
or cause of action on the part of the Employee against the Company, whether arising from this Agreement or otherwise, shall in no way constitute a defense to
the enforcement of this covenant not to compete, and the duration of this covenant not to compete shall be extended in an amount which equals the time period during which the Employee is or has been in violation of this covenant not to compete.

 d. In the event a court of competent jurisdiction determines that the provisions of this covenant not to compete are excessively broad as
to duration, geographic scope, prohibited activities or otherwise, the parties agree that this covenant shall be reduced or curtained to the extent necessary to render it enforceable. 
 e. For the purposes of this Section 6, Company shall be deemed to include the Company, as well as its subsidiaries and affiliates. 
 f. The parties hereto expressly acknowledge and agree that any provision of this Section 6 may be amended or waived by the mutual written agreement
of both parties. 
 7. Termination. 
 a. Either party may terminate this Agreement for any reason by giving the other party ninety (90) days written notice. 
 b. UTEK shall also have the right to terminate this Agreement immediately For Cause, which shall include, but not be limited to, fraud, breach of fiduciary duty, conviction of a crime or like conduct. 
 c. If the Employee is terminated for any reason or terminates his employment, the Company will not be required to make any further payments to Employee
during the remainder of the term of this Employment Agreement except as provided in 4 (iv) herein. 
 8. Arbitration. Any
controversies between UTEK and Employee involving the construction or application of any of the terms, provisions or conditions of this Agreement shall on the written request of either party served on the other be submitted to arbitration. Such
arbitration shall comply with and be governed by the rules of the American Arbitration Association. An arbitration demand must be made within one (1) year of the date on which the party demanding arbitration first had notice of the existence of
the claim to be arbitrated, or the right to arbitration along with such claim shall be considered to have been waived. An arbitrator shall be selected according to the procedures of the American Arbitration Association. The cost of arbitration shall
be born by the losing party or in such proportions as the arbitrator shall decide. The arbitrator shall have no authority to add to, subtract from or otherwise modify the provisions of this Agreement, or to award punitive damages to either party.

 9. Attorney’s Fees and Costs. If any action at law or in equity is necessary to enforce or interpret the terms of this
Agreement, the prevailing party shall be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any other relief to which he may be entitled. 
  

 Page 4 of 6 

 10. Entire Agreement: Survival. 
 a. This Agreement contains the entire agreement between the parties with respect to the transactions contemplated herein and supersedes, effective as of
the date hereof any prior agreement or understanding between UTEK and Employee with respect to Employee’s employment by UTEK. The unenforceability of any provision of this Agreement shall not affect the enforceability of any other Provision.
This Agreement may not be amended except by an agreement in writing signed by the Employee and the UTEK, or any waiver, change, discharge or modification as sought. Waiver of or failure to exercise any rights provided by this Agreement and in any
respect shall not be deemed a waiver of any further or future rights. 
 b. The provisions of Sections 5, 6, 8, 9, 10, 12 and 14 shall survive
the termination of this Agreement. 
 11. Assignment. This Agreement shall not be assigned to other parties. 
 12. Governing Law. This Agreement and all the amendments hereof, and waivers and consents with respect thereto shall be governed by the
laws of the State of Florida, without regard to the conflicts of laws principles thereof and the parties agree that the jurisdiction shall be in Hillsborough County, Florida. 
 13. Notice. All notices, responses, demands or other communications under this Agreement shall be in writing and shall be deemed to have
been given when 
 a. delivered by hand; 
 b. sent be fax, (with receipt confirmed), provided that a copy Is mailed by registered or certified mail, return receipt requested; or 
 c. received by the addressee as sent be express delivery service (receipt requested) in each case to the appropriate addresses, and fax numbers as the party may designate to itself by notice to the other parties: 
 (i) if to UTEK: 
 UTEK Corporation

 2109 East Palm Avenue 
 Tampa, Florida 33605 
 Attention: Sam Reiber 
 Vice President & General Counsel 

Telephone: 813-754-4330 
 (ii) If to the Employee:

 Doug Schaedler 
 c/o UTEK Corporation 
 2109 East Palm Avenue 
 Tampa, Florida 33605 
  

 Page 5 of 6 

 14. Severability. Should any part of this Agreement for any reason be declared invalid by a
court of competent jurisdiction, such decision shall not affect the validity of any remaining portion, which remaining provisions shall remain in full force and effect as if this Agreement had been executed with the invalid portion thereof
eliminated, and it is hereby declared the intention of the parties that they would have executed the remaining portions of this Agreement without including any such part, parts or portions which may, for any reason, be hereafter declared invalid.

 IN WITNESS WHEREOF, the undersigned have executed this agreement as of the day and year first above written. 
  

	
	For UTEK Corporation
	
	 /s/ Clifford M. Gross

	Clifford M. Gross, PhD
	CEO
	
	For Employee
	
	 /s/ Doug Schaedler

	Doug Schaedler

  

 Page 6 of 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]