Document:

Deed of Severance dated March 27, 2006

 Exhibit 10(ii) 
 DATED March 27, 2006 
 THE NORTHERN TRUST COMPANY 
 CANARY WHARF MANAGEMENT LIMITED 
 HERON QUAYS PROPERTIES LIMITED 
 HERON QUAYS (HQ4) T1 LIMITED AND HERON QUAYS (HQ4) T2 LIMITED 
  
 SURRENDER 
 of leasehold property at 
 Floor 4 of HQ-4, 50 Bank Street, 
 Canary Wharf, West India Docks, 
 Isle
of Dogs, London E14 

 DATED March 27, 2006 
 PARTIES 
  

					
	1	  	Landlord	  	THE NORTHERN TRUST COMPANY (company no BR001960) an Illinois banking corporation registered in the state of Illinois whose registered office is at 50 South LaSalle Street, Chicago,
Illinois 60675 USA and whose registered address for service in the UK is 50 Bank Street, London E14 5NT
			
	2	  	 Management
 Company
	  	CANARY WHARF MANAGEMENT LIMITED (company no 2067510) whose registered office is at One Canada Square, Canary Wharf, London E14 5AB
			
	3	  	Tenant	  	HERON QUAYS PROPERTIES LIMITED (company no 2276627) whose registered office is at One Canada Square, Canary Wharf, London E14 5AB
			
	4	  	 Superior
 Landlord
	  	HERON QUAYS (HQ4) T1 LIMITED (company no 4290518) whose registered office is at One Canada Square, Canary Wharf, London E14 5AB and HERON QUAYS (HQ4) T2 LIMITED (company no
4290517) whose registered office is at One Canada Square, Canary Wharf, London E14 5AB

 RECITALS 
  

	A	This deed is supplemental to the Underlease. 

  

	B	The reversion immediately expectant upon the term granted by the Underlease remains vested in the Landlord. 

  

	C	The term granted by the Underlease remains vested in the Tenant. 

  

	D	It has been agreed that the Tenant will surrender the term granted by the Underlease to the Landlord in consideration of the releases by the Landlord and the Management Company and
the Superior Landlord and that the Landlord will accept the surrender in consideration of the releases by the Tenant. 

 OPERATIVE PROVISIONS 
  

	1	Definitions and interpretation 

  

	1.1	Unless the contrary intention appears, the following definitions apply: 

  

			
	Property	  	the property described in schedule 1 and demised by the Underlease;
		
	Relevant Matters	  	means the matters contained in the Property and Charges Registers of Title Numbers EGL436332 and EGL430275 so far as the same relate to or affect the Property; and
		
	Underlease	  	the lease and other documents referred to in schedule 2.

  

	1.2	Where any party to this deed is more than one person the expressions “the Landlord”, “the Management Company”, “the Tenant” and “the Superior
Landlord” shall include the plural number and obligations in this deed expressed or implied to be made with or by any of them are to be treated as made by or with such individuals jointly and severally. 

  

	1.3	The clause and schedule headings in this deed are for ease of reference only and are not to be taken into account in the construction or interpretation of any provision to which
they refer. 

  

	1.4	Unless the contrary intention appears, references to numbered clauses or schedules are references to the relevant clause in, or schedule to, this deed. 

  

	2	Surrender 

 In consideration of £1 (exclusive
of value added tax) paid by the Landlord to the Tenant (the receipt of which is hereby acknowledged) and the releases contained in clause 3.1, the Tenant (with effect from the date of this deed) with full title guarantee but so that the Tenant shall
not be liable under any of the covenants set out in section 4 of the Law of Property (Miscellaneous Provisions) Act 1994 for any subsisting breach of covenant or condition relating to the state and condition of the Property surrenders the Property
to the Landlord to the intent that the residue of the term of years granted by the Underlease shall merge and be extinguished in the reversion. 

	3	Releases 

  

	3.1	The Landlord and the Management Company each release the Tenant absolutely from its liabilities, covenants and obligations past, present and future under the Underlease and in
respect of any other claims that the Landlord and/or the Management Company (as the case may be) may have against the Tenant. 

  

	3.2	The Tenant releases each of the Landlord and the Management Company and the Superior Landlord absolutely from their respective liabilities, covenants and obligations past, present
and future under the Underlease. 

 Delivered as a deed on the date of this document. 

 SCHEDULE 1 
 The Property 
 The leasehold land and property known as Floor 4 of the building known as HQ-4 50 Bank Street Canary
Wharf West India Docks Isle of Dogs London E14 as the same is more particularly described in the Underlease. 

 SCHEDULE 2 
 The Lease 
  

							
	 Date
	  	 Parties
	  	Term	  	 Rent

				
	 25 November 2002
	  	 The Northern Trust Company (1)
	  	5 years and 6
months commencing	  	 £770,244 p.a.

				
		  	 Canary Wharf Management Limited (2)
	  	on 1 April 2002	  	 exclusive of VAT

				
		  	 Heron Quays Properties Limited (3)
	  		  	
				
		  	 Heron Quays (HQ4) T1 Limited and Heron Quays (HQ4) T2 Limited (4)
	  		  	

			
		
	 Executed as a Deed by
 THE NORTHERN TRUST COMPANY
 acting by:
	  	 )
 )
 )
  
 Authorised Signatory
 Executive Vice President /s/ Gregg D. Behrens
  

Authorised Signatory
 Vice President /s/ David Knapp

		
	 Executed as a Deed by
 CANARY WHARF MANAGEMENT
 LIMITED
 acting by:
	  	 )
 )
 )
 )
  
 Director /s/ Peter Anderson
  
 Secretary /s/ John Garwood

		
	 Executed as a Deed by
 HERON QUAYS PROPERTIES LIMITED
 acting by:
	  	 )
 )
 )
  
 Director /s/ Peter Anderson
  
 Secretary /s/ John Garwood

		
	 Executed as a Deed by
 HERON QUAYS (HQ4) T1 LIMITED
 acting by:
	  	 )
 )
 )
  
 Director /s/ Peter Anderson
  
 Secretary /s/ John Garwood

			
	 Executed as a Deed by
 HERON QUAYS (HQ4) T2 LIMITED
 acting by:
	  	 )
 )
 )
  
 Director /s/ Peter Anderson
  
 Director/Secretary /s/ John
GarwoodFirst Amendment to Employment Agreement

 Exhibit 10.1 
 FIRST AMENDMENT TO EMPLOYMENT AGREEMENT 
 This FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this
“Amendment”) is made and entered into as of the 26th day of April, 2006, 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 “Employment Agreement”). 
 WHEREAS, pursuant to the terms of the Employment Agreement, the Term of the Executive’s employment renewed through May 30, 2007. 
 WHEREAS, the Company and Executive desire to amend the Employment Agreement to, among other things, grant the Executive the right to terminate the Term
of the Employment Agreement for any reason upon thirty (30) days prior written notice to the Company, subject to and in accordance with the terms of the Employment Agreement as amended by this Amendment. 
 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.
Amendment to Article 2, Section 2.1 of the Employment Agreement. Article 2.1 of the Employment Agreement is hereby amended by deleting the text of Section 2.1 in its entirety and inserting in lieu thereof the following: 

2.1 DUTIES. During the Term, the Executive shall: (i) be employed as the Executive Vice President and Chief Financial Officer of the Company, and
shall have such power and authority as is customarily held by the executive vice president and chief financial officer of similarly situated companies, (ii) devote his full business time, attention and energies to the business of the Company,
(iii) use his best efforts to promote the interests of the Company, (iv) perform such functions and services as shall lawfully be directed by the Chief Executive Officer, (v) act in accordance with the policies and directives of the
Company, and (vi) report directly to the Chief Executive Officer; provided, however, that the Company may at any time, in its sole and subjective discretion, change the Executive’s position as the Executive Vice President and
Chief Financial Officer of the Company to another officer position within the financial group of the Company, and, for the avoidance of doubt, such change shall not constitute a termination of employment for purposes of this Agreement or otherwise.

 2. Amendment to Article 2 of the Employment Agreement. Article 2 of the Employment Agreement is
hereby amended by adding a new Section 2.3 as follows: 
 2.3 OBLIGATIONS UPON TERMINATION. In the event the Executive terminates his
employment with the Company without reason pursuant to Section 6.2 of this Agreement, the Executive shall make himself reasonably available to advise the Chief Executive Officer of the Company and the Board of Directors of the Company on
any accounting or audit matters as reasonably requested by either of them (taking into account the Executive’s other commitments) for a period of twelve (12) months after the effective date of such termination by the Executive. In such
event, the Executive shall no longer be entitled to a Base Salary under Section 3.1 or a Bonus under Section 3.2 of this Agreement in respect of services performed subsequent to such termination date but shall be compensated
at the rate of one thousand dollars ($1,000) per day for each day actually engaged by the Company to provide advice as contemplated herein, prorated for partial days so engaged, subject to withholding under Section 3.3. 
 3. Amendment to Article 6, Section 6.1 of the Employment Agreement. Section 6.1 of the Employment Agreement is hereby amended by
deleting the words “OR WITHOUT GOOD REASON” from the heading. 
 4. Amendment to Article 6, Section 6.2 of the Employment
Agreement. Section 6.2 of the Employment Agreement is hereby amended by deleting the text of Section 6.2 in its entirety and inserting in lieu thereof the following: 
 6.2 TERMINATION WITHOUT CAUSE OR GOOD REASON. The Company shall have the right, at any time in its sole and subjective discretion, to terminate the
Executive’s employment under this Agreement without Cause upon not less than thirty (30) days prior written notice to the Executive. The Executive shall have the right at any time, in his sole and subjective discretion, to terminate his
employment under this Agreement without reason upon not less than thirty (30) days prior written notice to the Company. The term “termination without Cause” shall mean the termination by the Company of the Executive’s
employment for any reason other than those expressly set forth in Section 6.1, or no reason at all, and termination “without reason” shall mean the Executive’s decision to terminate his employment under this
Agreement for any reason or no reason at all; provided, however, that the Executive shall not have the right to so terminate his employment if the Company has provided a notice of termination of the Executive pursuant to
Section 6.1 or 6.2 unless the Executive has cured, in accordance with Section 6.1, those acts or omissions that gave rise to the delivery of the notice of termination by the Company. In the event (i) the Company
shall exercise the termination right granted pursuant to this Section 6.2 or (ii) on or after December 31, 2006, the Executive shall exercise the termination right granted pursuant to this Section 6.2, then except
as set forth in the proviso to this Section 6.2, neither party shall have any rights or obligations under Article 2 (except for Section 2.3), Sections 3.1 and 3.2, or Articles 4 and 5;
provided, however, that, subject to Section 3.5, the Company shall pay to the Executive (a) an amount equal to twelve (12) months of the Executive’s Base Salary in effect at the time of termination plus the Bonus
(at the Target level) and shall continue to provide all benefits in accordance with Section 4 for a period of twelve (12) months after the effective date of the termination (subject in each case to Section 3.3), except
that the Company shall not be required to provide such benefits to the extent that, during such twelve (12) month period, the Executive receives substantially similar (or better, from the Executive’s perspective) benefits from a new
employer, and (b) any amount due and owing as of the termination date pursuant to Sections 3.1 and 3.2 (including a Bonus for the year in which the termination occurs prorated to the date of termination based on the 

 
performance of the Company in such year as of the date on which the termination occurs versus the performance targets for the Company established by the
Board for the entire year, and using such factors as the Board shall determine in its sole discretion (e.g., revenue, EBITDA, net income, etc.)) and Article 5 (subject, in each case, to Section 3.3), and, provided
further, that the remaining provisions of this Agreement shall remain in full force and effect in accordance with their terms. The amounts and benefits required by clause (a) above shall be provided only if the Executive has
executed (and not revoked) a release in favor of the Company (which release shall be substantially in the form attached as Exhibit A). Notwithstanding the foregoing, in the event the Executive terminates his employment with the Company prior
to December 31, 2006, neither party shall have any rights or obligations under Article 2, Sections 3.1, 3.2 and 3.5, or Articles 4 and 5; provided, however, that the Company shall pay to the Executive
any amount due and owing as of such termination date pursuant to Section 3.1 and Articles 4 and 5 (subject in each case to Section 3.3), and the remaining provisions of this Agreement shall remain in full force and
effect in accordance with their terms. The amounts payable pursuant to this Section 6.2 shall be in payment for the services rendered by the Executive pursuant to this Agreement during the Term, and the Executive shall not be entitled to
any additional amounts in consideration for such services. 
 5. Full Force and Effect. Except as amended or otherwise modified by
Sections 1, 2, 3 and 4 hereof, the Employment Agreement remains in full force and effect. 
 6. 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. 
 7. 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. 
 8. 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. 
 9. 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:	 	Chief Executive Officer
	
	MICHAEL SCHMIDT
	
	/s/ Michael Schmidt

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