Document:

Stock Option Agreement, dated Sept. 21, 2004, bet. Autobytel & Richard Walker

 Exhibit 10.62 
  
 JN02349 
  
 Autobytel Inc. 
 A Delaware Corporation

  
 2004 Restricted Stock and Option Plan 
  
 EMPLOYEE STOCK OPTION AGREEMENT 
  
 Unless otherwise defined herein, the terms defined in the Plan shall have the same defined
meanings in this Option Agreement. 
  
 I 
 NOTICE OF STOCK OPTION GRANT 
  
 RICHARD WALKER 
 18872 MacArthur
Boulevard 
 #200 
 Irvine, CA 92612 
  
 You have been granted an option to purchase Common Stock of the Company,
subject to the terms and conditions of the Plan and this Option Agreement, as follows: 
  

			
	Date of Grant:	 	September 21, 2004
		
	Vesting Commencement Date:	 	September 21, 2005
		
	Exercise Price per Share:	 	$8.8000
		
	Total Number of Shares Granted:	 	75,000
		
	Total Exercise Price:	 	$660,000.00
		
	Type of Option:	 	Incentive Stock Option
		
	Term/Expiration Date:	 	The tenth anniversary of the Date of Grant

  
 A. Vesting Schedule:

  
 You may exercise this Option, in whole or in part, according to the following
vesting schedule: 
  
 Subject to Section II, Paragraphs D. and E. hereof and
Schedule I hereto, fifty percent (50%) shall become vested and exercisable as of the vesting commencement date, and the remaining fifty percent (50%) shall vest and become exercisable one twelfth (1/12th) on each successive monthly anniversary after the vesting commencement date ending on the second anniversary of the date of grant. 
  

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 B. Termination Period: 
  

As of the date of your termination of employment with the Company, you may exercise the Option on the terms and conditions below and as set forth in Schedule I hereto.
In no case may you exercise this Option after the Term/Expiration Date as provided above. 
  
 II 
 AGREEMENT 
  
 A. Grant of Option. Autobytel Inc., a Delaware corporation (the “Company”), hereby grants to the Optionee named in the
Notice of Grant (the “Optionee”), an option (the “Option”) to purchase the total number of shares of Common Stock (the “Shares”) set forth in the Notice of Grant, at the exercise price per share set forth in the Notice
of Grant (the “Exercise Price”) subject to the terms, definitions and provisions of the 2004 Restricted Stock and Option Plan (the “Plan”) adopted by the Company, which is incorporated herein by reference. Unless otherwise
defined herein, the terms defined in the Plan shall have the same defined meanings in this Option Agreement. 
  
 If designated in the Notice of Grant as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an Incentive Stock Option as
defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d), or to the extent the Option does not meet the ISO rules for some other reason, this Option shall be treated as a Nonstatutory
Stock Option (“NSO”). 
  
 B. Exercise of Option. 
  

	 	(1)	Right to Exercise. This Option shall be exercisable during its term in accordance with the Vesting Schedule set out in the Notice of Grant and with the applicable provisions
of the Plan and this Option Agreement and Schedule I hereto. In the event of Optionee’s death, disability or other termination of the employment with the Company, this Option shall be exercisable in accordance with the applicable provisions of
the Plan and this Option Agreement and Schedule I hereto. 

  

	 	(2)	Method of Exercise. This Option shall be exercisable by written notice (in the form attached as Exhibit A) which shall state the election to exercise the Option, the number
of Shares in respect of which the Option is being exercised, and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. Such written notice shall be signed by the Optionee and shall be
delivered in person or by certified mail to the Secretary of the Company. The written notice shall be accompanied by payment of the Exercise Price. This Option shall be deemed to be exercised upon receipt by the Company of such written notice
accompanied by the Exercise Price. 

  

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 No Shares will be issued pursuant to the exercise of an Option unless such issuance and such exercise shall comply
with all relevant provisions of law and the requirements of any stock exchange upon which the Shares may then be listed. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to the Optionee on the date on
which the Option is exercised with respect to such Shares. 
  
 C. Method of
Payment. Payment of the Exercise Price shall be by any of the following, or a combination thereof, at the election of the Optionee: 
  

	 	(1)	cash; 

  

	 	(2)	certified, bank cashier’s, or teller’s check; 

  

	 	(3)	surrender of other shares of Common Stock of the Company which (A) in the case of Shares acquired pursuant to the exercise of a Company option, have been owned by the Optionee for
more than six (6) months on the date of surrender, and (B) have a Fair Market Value on the date of surrender equal to the Exercise Price of the Shares as to which the Option is being exercised; or 

  

	 	(4)	delivery of a properly executed exercise notice together with such other documentation as the Administrator and the broker, if applicable, shall require to effect an exercise of the
Option and delivery to the Company of the sale or loan proceeds required to pay the Exercise Price. 

  
 D. Restrictions on Exercise. This Option may not be exercised if the issuance of such Shares upon such exercise or the method of payment of consideration for such
Shares would constitute a violation of any applicable federal or state securities or other law or regulation, including any rule under Part 207 of Title 12 of the Code of Federal Regulations (“Regulation G”) as promulgated by the Federal
Reserve Board. 
  
 E. Termination of Relationship. As of the date of the
Optionee’s termination of employment with the Company, Optionee may exercise this Option on the terms and conditions set forth herein and in Schedule I hereto. To the extent that Optionee was not entitled to exercise this Option at the date of
such termination, or if Optionee does not exercise this Option within the time specified in Schedule I hereto, the Option shall terminate. 
  
 F. Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be
exercised during the lifetime of Optionee only by Optionee. The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee. 
  
 G. Term of Option. This Option may be exercised only within the term set out in the
Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option. The limitations set out in Section 6.4(b) of the Plan regarding Options designated as ISOs and Section 4.3 of the Plan regarding
Options granted to more than ten (10%) shareholders shall apply to this Option. 
  

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 H. Tax Consequences. Set forth below is a brief summary as of the date of this Option of some of the federal and
state tax consequences of exercise of this Option and disposition of the Shares.  
  
 THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES. 
  

	 	(1)	Exercise of ISO. If this Option qualifies as an ISO, there will be no regular federal income tax liability or state income tax liability upon the exercise of the Option,
although the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price will be treated as an adjustment to the alternative minimum tax for federal tax purposes and may subject the Optionee to the
alternative minimum tax in the year of exercise. 

  

	 	(2)	Exercise of ISO Following Disability. If the Optionee’s employment with the Company terminates as a result of disability that is not a disability as defined in Section
22(e)(3) of the Code, to the extent permitted on the date of termination, the Optionee must exercise an ISO within three months of such termination for the ISO to be qualified as an ISO. 

  

	 	(3)	Exercise of NSO. There may be a regular federal income tax liability and state income tax liability upon the exercise of a NSO. The Optionee will be treated as having
received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price. If Optionee is an Employee or a former Employee, the Company
will be required to withhold from Optionee’s compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor
the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise. 

  

	 	(4)	Disposition of Shares. In the case of an NSO, if Shares are held for at least one year, any gain realized on disposition of the Shares should be treated as long-term capital
gain for federal and state income tax purposes. In the case of an ISO, if Shares transferred pursuant to the Option are held for at least one year after exercise and are disposed of at least two years after the Date of Grant, any gain realized on
disposition of the Shares should also be treated as long-term capital gain for federal and state income tax purposes. If Shares purchased under an ISO are disposed of within such one-year period or within two years after the Date of Grant, any gain
realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the difference between the Exercise Price and the lesser of (1) the Fair Market Value of the Shares on the date of exercise, or
(2) the sale price of the Shares. Any additional gain will be taxed as capital gain, short-term or long-term depending on the period that the ISO Shares were held. 

  

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	 	(5)	Notice of Disqualifying Disposition of ISO Shares. If the Option granted to Optionee herein is an ISO, and if Optionee sells or otherwise disposes of any of the Shares
acquired pursuant to the ISO on or before the later of (1) the date two years after the Date of Grant, or (2) the date one year after the date of exercise, the Optionee shall immediately notify the Company in writing of such disposition. Optionee
agrees that Optionee may be subject to income tax withholding by the Company on the compensation income recognized by the Optionee. 

  
 I. Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Option Agreement, including Schedule I hereto, constitute the
entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Optionee with respect to the subject matter hereof, and may not be modified adversely
to the Optionee’s interest except by means of a writing signed by the Company and Optionee. THIS AGREEMENT IS GOVERNED BY DELAWARE LAW EXCEPT FOR THAT BODY OF LAW PERTAINING TO CONFLICT OF LAWS. 
  

					
	 	 	 Autobytel Inc.

	 	 	 a Delaware corporation

			
	 Dated as of: September 21, 2004
	 	 By:
	 	 /s/ Jeffrey A. Schwartz

	 	 	 	 	Jeffrey A. Schwartz
	 	 	 	 	 Chief Executive Officer and President

  

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 OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE OPTION HEREOF IS EARNED ONLY BY CONTINUING
EMPLOYMENT AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER) EXCEPT AS PROVIDED IN THE LETTER AGREEMENT, DATED JULY 1, 2003, BETWEEN THE COMPANY AND OPTIONEE. OPTIONEE FURTHER
ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS AGREEMENT, NOR IN THE COMPANY’S 2004 RESTRICTED STOCK AND OPTION PLAN WHICH IS INCORPORATED HEREIN BY REFERENCE, SHALL CONFER UPON OPTIONEE ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT BY THE
COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE OPTIONEE’S EMPLOYMENT AT ANY TIME, WITH OR WITHOUT CAUSE. 
  
 Optionee acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and provisions
thereof, and hereby accepts this Option subject to all of the terms and provisions thereof and this Option Agreement, including Schedule I hereto. Optionee has reviewed the Plan and this Option in their entirety, has had an opportunity to obtain the
advice of counsel prior to executing this Option and fully understands all provisions of the Option. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising
under the Plan or this Option. Optionee further agrees to notify the Company upon any change in the residence address indicated below. 
  

			
	 	 	 OPTIONEE

		
	 Dated as of: September 21, 2004
	 	 /s/ Richard Walker

	 	 	Richard Walker
	 	 	 18872 MacArthur Boulevard

	 	 	 #200

	 	 	 Irvine, CA 92612

  

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 JN02349 
  
 EXHIBIT A 
  
 2004 RESTRICTED STOCK AND OPTION PLAN 
  
 EXERCISE NOTICE 
  
 Autobytel Inc. 
 18872 MacArthur Boulevard 
 Irvine, CA 92612-1400 
  
 Attention: Secretary 
  

	1.	Exercise of Option. Effective as of today,
                                , Richard Walker, the undersigned
(“Optionee”), hereby elects to exercise Optionee’s option to purchase                      shares of the Common Stock (the
“Shares”) of Autobytel Inc. (the “Company”) under and pursuant to the 2004 Restricted Stock and Option Plan (the “Plan”) and the [ü] Incentive [    ] Nonstatutory
Stock Option Agreement dated, September 21, 2004 (the “Option Agreement”). 

  

	2.	Representations of Optionee. Optionee acknowledges that Optionee has received, read and understood the Plan and the Option Agreement and agrees to abide by and be bound by
their terms and conditions. 

  

	3.	Rights as Shareholder. Until the stock certificate evidencing such Shares is issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued)
such stock certificate promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 5.2 of the Plan.

  

	4.	Tax Consultation. Optionee understands that Optionee may suffer adverse tax consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee
represents that Optionee has consulted with any tax consultants Optionee deems advisable in connection with the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice. Optionee further agrees to
notify the Company upon the disposition of any Shares acquired pursuant to the exercise of an Incentive Stock Option. 

  

	5.	Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the
successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement shall be binding upon Optionee and his or her heirs, executors, administrators, successors and assigns. 

  

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	6.	Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by Optionee or by the Company forthwith to the Company’s Board of Directors
or the committee thereof that administers the Plan, which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Board or committee shall be final and binding on the Company and on Optionee.

  

	7.	GOVERNING LAW; SEVERABILITY. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE EXCLUDING THAT BODY OF LAW PERTAINING
TO CONFLICTS OF LAW. SHOULD ANY PROVISION OF THIS AGREEMENT BE DETERMINED BY A COURT OF LAW TO BE ILLEGAL OR UNENFORCEABLE, THE OTHER PROVISIONS SHALL NEVERTHELESS REMAIN EFFECTIVE AND SHALL REMAIN ENFORCEABLE. 

  

	8.	Notices. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United
States mail by certified mail, with postage and fees prepaid, addressed to the other party at its address as shown below beneath its signature, or to such other address as such party may designate in writing from time to time to the other party.

  

	9.	Further Instruments. The parties agree to execute such further instruments and to take such further action as may be reasonably necessary to carry out the purposes and intent
of this Agreement. 

  

	10.	Delivery of Payment. Optionee herewith delivers to the Company the full Exercise Price for the Shares. 

  

	11.	Entire Agreement. The Plan and Notice of Grant/Option Agreement are incorporated herein by reference. This Agreement, the Plan and the Option Agreement, including Schedule I
thereto, constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Optionee with respect to the subject matter hereof, and may
not be modified adversely to the Optionee’s interest except by means of a writing signed by the Company and Optionee. 

  

							
	 Submitted by:
	 	 Accepted by:

		
	 OPTIONEE:
	 	 Autobytel Inc.

				
	 By:
	 	
	 	 By:
	 	  

	 	 	Richard Walker	 	 	 	 
	 Address:
	 	 Title:
	 	  

	
	 	 Address:

	 	 	 	 	 18872 MacArthur Boulevard

	
	 	 Irvine, CA 92612-1400

  

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 SCHEDULE I 
  
 (a) Payment Upon Exercise. Payment for the shares subject to any Option may be tendered in cash or by certified, bank
cashier’s or teller’s check or by shares of the Company’s common stock (valued at fair market value (as determined by the Company) as of the date of tender) already owned by the Optionee, or some combination of the foregoing or
through cashless exercise or such other form of consideration which has been approved by the Board of Directors or committee thereof (the “Board”), including a promissory note given by the Optionee. 
  
 (b) Termination for Cause. As of the date of the Optionee’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
Optionee’s employment as a result of any one or more of the following: (i) any conviction of, or pleading of nolo contendre by, the Optionee for any crime or felony; (ii) any gross wilfull misconduct of the Optionee which has a materially
injurious effect on the business or reputation of the Company; (iii) the gross dishonesty of the Optionee which has a materially injurious effect on the business or reputation of the Company; or (iv) failure to consistently discharge his duties
under any agreement between the Company and Optionee 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 Optionee, shall be considered “willful” if it is done, or omitted to be done, by the Optionee in good faith or with reasonable belief that his action or omission was in the best interest of the Company. The Optionee shall have the
opportunity to cure any such acts or omissions (other than item (i) above) within fifteen (15) days of the Optionee’s receipt of notice from the Company finding that, in the good faith opinion of the Company, the Optionee is guilty of acts or
omissions constituting “Cause”. 
  
 (c) Termination
Without Cause or for Good Reason. As of the date of the Optionee’s termination by the Company without Cause or by the Optionee 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 Optionee’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 Optionee’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 Optionee’s salary, bonus opportunities, options or other
compensation benefits or perquisites, or the Optionee’s authority, functions, services, duties, rights, and privileges as, or commensurate with the Optionee’s position as, Executive Vice President, Corporate Development and Strategy of the
Company; (B) deprives the Optionee of his titles and positions of Executive Vice President, Corporate Development and Strategy of the Company, other than in the case of promotions; or (C) involves or results in any failure by the Company to comply
with any provision of the employment agreement between Optionee and the Company 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 Optionee (each a “Good Reason”). 
  
 (d) Termination due to Death or Disability. As of the date of the Optionee’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 Optionee has occurred, it shall give written notice to the Optionee of its intention to terminate his employment. In such 
  

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 event, the Optionee’s employment with the Company shall terminate effective on the 30th day after receipt of such
notice by the Optionee, provided that, within the thirty (30) days after such receipt, the Optionee shall not have returned to full-time performance of his duties. For purposes hereof, “Disability” shall mean the inability of the Optionee
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. 
  
 (e) Termination
Without Good Reason. As of the date of any voluntary termination of employment with the Company by the Optionee 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. 
  

	 	(f)	Termination Prior to or Following a Change of Control. In the event of a Change of Control (as defined below) while the Optionee is employed by the Company, or the
Optionee’s employment is terminated by the Company without Cause or by the Optionee 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, consolidation or reorganization, 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. 

  

	 	(g)	Notwithstanding the foregoing, in no event shall any Option be exercisable beyond the tenth anniversary of the grant date. 

  

 -10-Severance Agreement and General Release, dated January 7, 2005

 Exhibit 10.63 
  
 SEVERANCE AGREEMENT AND GENERAL RELEASE 
  
 This Severance Agreement and General Release (“Agreement”) is made and entered into by and between Hoshi Printer
(“Printer”) on the one hand, and Autobytel Inc. (“ABT”), on the other hand. Printer and ABT are collectively referred to herein as the “parties.” 
  

	 	1.	Printer’s Resignation as Officer; Resignation From Employment; No Future Employment. 

  
 a. Printer has previously resigned from all his officer positions with ABT and his officer and director positions, if any,
with each subsidiary of ABT. However, Printer remains an at-will employee of ABT, to be compensated at his base salary as he was under his Former Employment Agreement (as defined below) with similar benefits, including health benefits, excluding
bonuses. 
  
 b. In consideration of ABT’s promise of a
payment of one month’s base salary in the gross amount of Twenty-Two Thousand Eighty-Three Dollars and Thirty-Three Cents ($22,083.33), less normal withholdings and deductions, Printer hereby rescinds, and waives all rights he may have under,
all pre-existing employment agreements, written or oral, including but not limited to his Employment Agreement dated April 18, 2001, and the First Amendment thereto of October 1, 2002 (“Former Employment Agreement”), excepting only
paragraph 8.2 of Article 8 (“Indemnification; Insurance”) and Articles 9 and 10 of the Former Employment Agreement and all employee stock option agreements, which will remain in full force and effect in accordance with their respective
terms, and except as provided in the last paragraph of paragraph 5 below (exclusion from the Printer release). Printer understands and agrees that his current employment status is that of an at-will employee, and that his employment can be
terminated by ABT at any time, with or without cause, and with or without notice. While Printer is an at-will employee, his duties shall be limited as follows (only to the extent requested by ABT): Printer will assist with the preparation of
ABT’s quarterly report on Form 10-Q for the quarterly period ended September 30, 2004, and, if requested by ABT, the Form 10-K for 2004, as well as assist in the preparation of the restatements of ABT’s consolidated financial statements
for the second and third fiscal quarters of 2003, the full fiscal year 2003, and the first and second fiscal quarters of 2004, including without limitation, performing Printer’s normal duties and functions in connection with the preparation of
such reports, meeting with the Disclosure Committee of ABT and representatives of ABT’s independent auditors and outside attorneys, and cooperating in any investigation undertaken by the Company’s Board of Directors, its Audit Committee
and any other investigation undertaken by the Company’s independent auditors relating to matters of which you have knowledge. 
  
 c. In consideration of a second payment of one month’s base salary in the gross amount of Twenty-Two Thousand Eighty Three Dollars and Thirty-Three
Cents 

  

 -1- 

 
($22,083.33), less normal withholdings and deductions, Printer hereby irrevocably tenders his resignation from employment with ABT. Printer understands that
this resignation from employment may be accepted at ABT’s pleasure, with 24 hours’ notice, and will be effective immediately upon its acceptance. Printer can also terminate his employment with ABT by written notice to ABT. 
  
 d. Printer understands and agrees that, following his accepted resignation
from ABT or Printer’s notification of termination, his employment with ABT will not be resumed again at any time in the future. Printer further agrees that he will not apply for or otherwise seek work or employment with ABT or any of its
affiliated entities at any time in the future. 
  

	 	2.	Timing and Conditions of Payments to Printer. 

  
 a. Provided that Printer abides by all of the terms of this Agreement, and does not revoke it pursuant to paragraph 23 hereof, ABT will provide to
Printer’s counsel, Martin N. Gelfand, Esq., as contemplated by paragraph 1.b., a check made payable to Printer in the gross amount of Twenty-Two Thousand Eighty-Three Dollars and Thirty-Three Cents ($22,083.33), less normal withholdings and
deductions, within fifteen (15) days after counsel for ABT receives the fully executed original of this Agreement. 
  
 b. Provided that Printer abides by all of the terms of this Agreement; re-executes this Agreement promptly after his separation, thus extending his
release of claims from the date of initial execution to the date of separation; and does not revoke the Agreement or ADEA release pursuant to paragraph 23 hereof, ABT will provide to Printer’s counsel, Martin N. Gelfand, Esq., as contemplated
by paragraph 1.c., a check made payable to Printer in the gross amount of Twenty-Two Thousand Eighty-Three Dollars and Thirty-Three Cents ($22,083.33), less normal withholdings and deductions, within fifteen (15) days of his re-executing the
Agreement. The re-execution of this Agreement does not entitle Printer to any monetary payment, except under this paragraph 2.b. 
  
 c. Printer acknowledges that he is not entitled to these payments under ABT’s normal policies and practices, that they do not constitute payment for
services performed, and that they constitute valuable consideration for his release of claims and for his other promises contained in this Agreement. 
  

	 	3.	Non-Admission of Liability or Wrongdoing. 

  
 The parties acknowledge that this Agreement reflects their desire to terminate all aspects of their relationship in an orderly and amicable fashion. The
parties in no way acknowledge any fault or liability to the other party or any other person or entity, and this Agreement shall not in any way be construed as an admission by either party or any other person or entity of any fault or liability to
any party or any other person or entity. 
  

 -2- 

	 	4.	Responsibility for Taxes. 

  
 Printer agrees that he is solely responsible for all tax obligations, including, but not limited to, all payment obligations, which may arise as a
consequence of this Agreement. Printer further agrees not to seek or make any claim against ABT for any loss, cost, damage or expense if a claim or adverse determination is made in connection with the tax treatment of any of the proceeds of this
Agreement. 
  

	 	5.	Complete Release by Printer (Except as Noted Below). 

  
 As a material inducement to ABT to enter into this Agreement, except for the matters exempted from this release as set forth below, Printer hereby
irrevocably and unconditionally waives and releases all rights and claims, known and unknown, which he may have against ABT, each of its successors, assigns, agents, directors, officers, administrators, employees, representatives, attorneys,
divisions, subsidiaries, affiliates (and agents, directors, officers, administrators, employees, representatives and attorneys of such divisions, subsidiaries, and affiliates), and all persons acting by, through, under or in concert with any of them
(collectively “Releasees”) from the beginning of time to the date Printer signs this Agreement. Printer also releases any and all other claims, known and unknown, which he may have for breach of contract, express or implied; breach of the
covenant of good faith and fair dealing; wrongful discharge in violation of public policy; and retaliation, harassment, defamation, conspiracy, infliction of emotional distress, invasion of privacy, assault, battery, misrepresentation, or any other
tort. This includes but is not limited to a release of all rights and claims Printer may have under: 
  
 a. Anti-Discrimination Statutes, such as the California Fair Employment and Housing Act (prohibits discrimination in employment based on race,
religious creed, color, national origin, ancestry, physical disability, mental disability, medical condition, sexual orientation, marital status, sex, or age); Title VII of the Civil Rights Act of 1964 (prohibits discrimination in employment based
on race, color, national origin, religion, sex or pregnancy); the Age Discrimination in Employment Act (prohibits age discrimination); the Civil Rights Act of 1991 (prohibits discrimination); 42 U.S.C. § 1981 (prohibits discrimination);
Executive Order 11246 (prohibits race, color, religion, sex and national origin discrimination); Executive Order 11141 (prohibits age discrimination); the Rehabilitation Act of 1973 (prohibits handicap discrimination); the Equal Pay Act (prohibits
paying men and women unequal pay for equal work); and the Americans With Disabilities Act (prohibits discrimination based on disability); 
  
 b. Federal and State Employment Statutes, such as the Fair Labor Standards Act (regulates wage and hour matters); the Employee Retirement Income
Security Act of 1974 (protects employee benefits); the National Labor Relations Act (protects the right to engage in union activity); the Family and Medical Leave Act 

  

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(provides for leaves of absence); the California Family Rights Act (provides for leaves of absence); and the California Labor Code (regulates wages, hours,
and other terms and conditions of employment); 
  
 c. Other
Laws, such as the Racketeer Influenced and Corrupt Organizations Act (RICO) or any similar federal or state law; the False Claims Act, or any similar federal or state law; the Sarbanes-Oxley Act of 2002; and federal, state, or local laws or
regulations prohibiting discrimination, retaliation, or harassment in employment or affording protection to “whistleblowers”; and 
  
 d. Incentive Plans, such as any bonus, incentive award, or other incentive compensation or benefit policies, practices, or plans, including but not
limited to any incentive award for 2004 under ABT’s Short-Term Cash Incentive Plan, the award of which Printer expressly acknowledges is within the sole discretion of the Board of Directors. 
  
 However, as the sole exceptions to the foregoing release, nothing herein
shall constitute a release by Printer of (a) salary, normal benefits earned for services performed prior to his final separation, and the grant and vesting of all stock options as provided in his employee stock option agreements except that
Printer’s release does cover and apply to incentive awards other than existing stock options; (b) the vested retirement benefits, if any, Printer earned or will earn during the period of his employment under ABT qualified retirement plans, as
determined under the official terms of those plans; (c) indemnification as provided in a written indemnification agreement, paragraph 8.2 of his Former Employment Agreement, ABT’s charter and by-laws, or by law; or (d) any of ABT’s
obligations created by this Agreement. 
  

	 	6.	Release By ABT. 

  
 As a material inducement to Printer to enter into this Agreement, ABT does hereby irrevocably and unconditionally waive and release, acquit and forever
discharge Printer, and his heirs, executors, administrators, successors and assigns from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights,
demands, grievances, costs, losses, and expenses (including attorneys’ fees and costs) in any way related to or arising out of his employment with ABT, regardless of whether such claims, obligations, or rights are known or unknown, suspected or
unsuspected, fixed or contingent; provided, however, that nothing herein shall release any claims ABT may have for, related to, or arising under, or in connection with (1) any failure of ABT’s public filings with the Securities and Exchange
Commission or public disclosure of financial information to comply with (x) Generally Accepted Accounting Principles, (y) the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the rules and regulations of
the Securities and Exchange Commission promulgated thereunder, or (z) the so-called 10b-5 liability standards imposed under federal law or similar standards imposed under state law; (2) any failure of ABT or Printer to comply with (a) the 

  

 -4- 

 
Sarbanes Oxley Act of 2002 or (b) ABT’s internal Sarbanes Oxley procedures; (3) liabilities, costs, expenses, damages, penalties, or injuries (including
without limitation ABT’s legal fees and costs) caused by any civil or criminal suit, investigation, proceeding or action initiated by any individual, or class of individuals, or governmental agency alleging the failures described in clauses (1)
and (2); or (4) breach of fiduciary duty arising out of the failure to comply with the duties of due care, loyalty, and supervision, mismanagement, waste of corporate assets, or unjust enrichment; or (5) any rights or claims ABT may have (including,
and without in any way limiting, such rights or claims such as an undertaking by Printer to repay any advancement of expenses) under any indemnification arrangements with Printer, whether by charter, by-law, law or agreement. 
  

	 	7.	Knowing and Voluntary Waiver of Known and Unknown Claims. 

  
 Printer and ABT acknowledge and agree that, as a condition of this Agreement, they expressly release all rights and claims within the scope of their
respective releases in paragraphs 5 and 6 that they do not know about, as well as those they know about. Thus, to the extent consistent with the terms of their respective releases, Printer and ABT expressly waive all rights under Section 1542 of the
Civil Code of the State of California, which reads as follows: 
  
 “A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the
debtor.” 
  

	 	8.	Printer’s Representations Re: Claims by or Against Him; No Present or Future Lawsuits, Charges, or Complaints of Any Nature Whatsoever by Printer; Covenant Not To Sue.

  
 a. Printer represents that, to the best of his
knowledge, he has not done anything willful that would give ABT a meritorious claim against him, provided such claim is presently unknown to ABT. Expressly excluded from the foregoing representation are potential claims arising from matters
presently known to ABT, including those claims presently known to ABT as the result of the investigation being conducted by the audit committee or ABT’s counsel, the review/audit being conducted by ABT’s outside auditors, or otherwise.

  
 b. Printer further represents that he has not filed any
lawsuits, charges, claims, grievances, or complaints of any kind against Releasees and agrees that he will not do so at any time hereafter based on, referring to, or incorporating any events, acts or omissions through and including the date hereof,
and that, if any lawsuit, claim, charge, grievance or complaint, and/or any legal or grievance proceeding is brought, in whole or in part, on behalf of Printer based upon, referring to, or incorporating any events, acts, or omissions through and
including the execution of this Agreement, Printer will request that the lawsuit, claim, charge, grievance or complaint be withdrawn or dismissed with prejudice. 
  

 -5- 

 c. Printer further represents and agrees that he will not engage in any conduct or take any action to
encourage any person or entity to initiate litigation or assert any other kind of claim against ABT, nor shall he cooperate with or assist any such person or entity in any such litigation or claim; provided, however, that nothing in this paragraph 8
shall prohibit Printer from testifying truthfully pursuant to a subpoena or court order in any legal proceeding, responding to the proper inquiry of a state, federal, or local governmental agency or regulatory body, or otherwise participating in
legal or administrative proceedings as required by law. 
  
 d. If
Printer’s representations in this paragraph 8 prove to be false, or if he violates the promises made in this paragraph 8, including but not limited to filing a lawsuit, charge, claim, grievance, or complaint of any kind against Releasees, based
on any events, acts or omissions through and including the date hereof, ABT shall recover the payments made under paragraph 2 hereof, and Printer will pay for all costs and losses, including, but not limited to, actual attorneys’ fees and
costs, incurred by Releasees in connection with said lawsuit, charge, claim, grievance, or complaint. 
  

	 	9.	Confidentiality by Printer. 

  
 a. As a material inducement for ABT to enter into this Agreement, Printer agrees not to disclose to anyone any information regarding ABT’s financial,
accounting, and audit procedures and practices, except as necessary to perform his assigned duties during the remainder of his employment, or as provided in subparagraph 9.c. below. All of the information referenced in this subparagraph 9.a. is
hereafter referred to as “Confidential Information.” 
  
 b. This section is intended to, and does, preclude Printer from disclosing Confidential Information to, among others, any former employees of Releasees and any job applicants of Releasees, or the media. 
  
 c. This section does not prohibit Printer’s disclosure of Confidential
Information as may be required by court order, by the proper inquiry of a state, federal, or local governmental agency or regulatory body, by a subpoena to testify issued by a court or arbitrator of competent jurisdiction, or as otherwise required
by law. If Printer is required or reasonably anticipates that he will be asked to disclose Confidential Information, he shall immediately give notice to ABT, to the extent permitted by law, by mailing a copy of each such order, inquiry, or subpoena
to Ariel Amir, Esq., Executive Vice President and General Counsel, Autobytel Inc., 18872 MacArthur Boulevard, Suite 200, Irvine, CA 92612-1400 (or to such other person as ABT may designate to Printer in writing), such that each is received by ABT no
later than seven (7) business days prior to the date Printer is required to disclose Confidential Information or as soon as practicable if he is required to disclose less than seven (7) business days after his receipt of the order, inquiry, or
subpoena. Printer agrees that he will take no action, directly or indirectly, to encourage or suggest the issuance of any such order, inquiry, or subpoena. 
  

 -6- 

	 	10.	Different or Additional Facts. 

  
 The parties acknowledge that each might hereafter discover facts different from or in addition to those each now knows or believes to be true with respect
to a claim or claims released herein, and each expressly agrees to assume the risk of possible discovery of additional or different facts, and agrees that this Agreement shall be and remain effective in all respects regardless of such additional or
different discovered facts. 
  

	 	11.	Ownership of Claims. 

  
 The parties represent and agree that each has not assigned or transferred, or purported to assign or transfer, to any person or entity, any claims or any
portion thereof, or interest therein, being released by this Agreement. 
  

	 	12.	Voluntary Participation in this Agreement. 

  
 The parties acknowledge that they have thoroughly discussed all aspects of their rights and this Agreement with their respective attorneys, that they have
carefully read and fully understand all of the provisions of this Agreement, that they have been given a reasonable period of time to consider signing this Agreement, and that they are voluntarily signing this Agreement. 
  

	 	13.	No Representations. 

  
 The parties represent and agree that no promises, statements, or inducements have been made to them which caused them to sign this Agreement other than
those expressly stated in this Agreement. 
  

	 	14.	Governing Law. 

  
 This Agreement shall in all respects be interpreted, enforced, and governed under the laws of the State of California. 
  

	 	15.	Successors. 

  
 This Agreement shall be binding upon the parties and upon their respective heirs, administrators, representatives, executors, successors and assigns, and
shall inure to the benefit of the parties and others released herein, their representatives, executors, successors and assigns. 
  

 -7- 

	 	16.	Arbitration. 

  
 Any future dispute between the parties, including but not limited to any dispute regarding any aspect of this Agreement, its formation, validity,
interpretation, effect, performance or breach (“arbitrable dispute”), will be submitted to arbitration in Orange County, California, before an experienced employment arbitrator licensed to practice law in California and selected in
accordance with the then-current employment arbitration procedures of the American Arbitration Association (“AAA”), as the exclusive forum for resolving such dispute; provided, however, that either party may go to court for injunctive
relief, including but not limited to, specific performance. The arbitrator in any arbitrable dispute shall not have authority to modify or change the Agreement in any respect. The arbitration shall be governed in all respects by the then-current
employment arbitration procedures of the AAA. The arbitrator’s decision and/or award will be fully enforceable and subject to an entry of judgment by the Superior Court of the State of California for the County of Orange. Should either party to
this Agreement hereafter pursue any arbitrable dispute, as defined herein, by any method other than arbitration, the responding party shall recover from the initiating party all damages, costs, expenses, and attorneys’ fees incurred as a result
of such action. 
  

	 	17.	Further Necessary Actions. 

  
 The parties agree, without further consideration, to execute or cause to be executed, and to deliver to each other, any other documents and to take any
other action as may be necessary to more effectively consummate the subject matter of this Agreement. 
  

	 	18.	Proper Construction. 

  
 a. The language of all parts of this Agreement shall in all cases be construed as a whole according to its fair meaning, and not strictly for or against
any of the parties. 
  
 b. As used in this Agreement, the term
“or” shall be deemed to include the term “and/or,” and the singular or plural shall be deemed to include the other whenever the context so indicates or requires. 
  
 c. The paragraph headings used in this Agreement are intended solely for convenience of reference and shall not in any
manner amplify, limit, modify or otherwise be used in the interpretation of any of the provisions hereof. 
  

	 	19.	Severability. 

  
 Should any of the provisions of this Agreement be finally determined by any arbitrator or any court of competent jurisdiction to be illegal or invalid,
the validity of the remaining parts, terms, or provisions shall not be affected thereby and said illegal or invalid part, term, or provision shall be deemed not to be a part of this Agreement. 
  

 -8- 

	 	20.	Counterparts. 

  
 This Agreement may be executed in counterparts. 
  

	 	21.	Authority. 

  
 ABT represents that the individual signing this Agreement on behalf of ABT is fully authorized to sign on its behalf. Printer represents that he has the
legal capacity and right to enter into this Agreement and to be bound by its terms. 
  

	 	22.	Survival of Warranties. 

  
 All representations and warranties contained in this Agreement shall survive its execution, effectiveness, and delivery. It is expressly understood and
agreed by the parties hereto that none of the releases set forth herein is intended to or does release any claims or rights arising out of this Agreement or the breach of it. 
  

	 	23.	Printer’s Time to Consider This Agreement; Right of Revocation. 

  

a. Printer acknowledges that, before signing this Agreement, he was given a period of at least twenty-one (21) days in which to consider it. He further
acknowledges that he took advantage of this period to consider this Agreement before signing it to the extent he deemed appropriate; he carefully read this Agreement; he fully understands it; and he is entering into it voluntarily. If Printer signs
this Agreement before the end of the twenty-one-day period, it will be his voluntary decision to do so because he has decided that he does not need any additional time to decide whether to sign this Agreement. 
  
 b. Printer acknowledges that ABT hereby encourages him to discuss this
Agreement with an attorney of his own choosing before signing it. Printer represents that he has in fact sought such advice from his own attorney, Martin N. Gelfand, Esq. 
  
 c. Printer may revoke this Agreement within seven (7) days after he first signs this Agreement, in which case it will not go
into effect, and he will not receive the payments set forth in paragraph 2 hereof. Printer may also revoke his release of claims under the Age Discrimination in Employment Act only, within seven (7) days after he re-executes the Agreement as
provided in paragraph 2.b. hereof, in which case the payment contemplated by paragraph 1.c. will be reduced to Five Thousand Dollars ($5,000) to reflect the reduced value of the consideration to ABT, and the remainder of the release and this
Agreement shall remain in full force and effect. In order for a revocation to be effective, Printer’s written revocation must be received no later than the seventh (7th) day after Printer executes or re-executes this Agreement by Mark Ernst, Vice President, Human Resources, Autobytel Inc., 18872 MacArthur Boulevard, Suite
200, Irvine, California 92612-1400. 
  

 -9- 

	 	24.	Cooperation in Litigation or Investigation. 

  
 Both before and after his final separation and subject to his assertion of any privilege, if applicable, Printer agrees to reasonably cooperate with ABT
and ABT’s lawyers in any litigation that has been or may be brought against ABT, as well as in any governmental investigation of ABT, by providing truthful testimony and by meeting with ABT’s lawyers in advance of such truthful testimony,
as reasonably necessary. Printer also agrees to cooperate in the investigation currently being undertaken by the Audit Committee of the Board of Directors of ABT and any other investigation undertaken in the future by ABT, its Board of Directors or
a committee thereof, or, at the request of ABT, ABT’s independent auditors, relating to matters of which Printer has knowledge. Printer’s cooperation in these regards will be provided without further compensation or other remuneration,
except for reimbursement of out-of-pocket expenses. If Printer is employed elsewhere at the time his cooperation is required, ABT will use its best efforts to schedule time with Printer so as to reasonably accommodate his employment obligations.

  

	 	25.	No Disparagement. 

  
 Printer agrees not to criticize, denigrate, or disparage ABT or any Releasee. ABT agrees to instruct its executive officers and members of the Board of
Directors not to disparage Printer. 
  

 -10- 

	 	26.	Entire Agreement. 

  
 Except as expressly provided herein, this Agreement sets forth the entire agreement between the parties hereto, and fully supersedes any and all prior
agreements or understandings between the parties hereto pertaining to the subject matter hereof. This Agreement may be modified only by a writing signed by the parties. 
  
 PLEASE READ CAREFULLY. THIS SETTLEMENT AGREEMENT AND GENERAL RELEASE INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 
  
 Executed at Newport Beach, California, this 7th day of January, 2005.

  

	
	 /s/ Hoshi Printer

	 Hoshi Printer

  
 Executed at
Irvine, California, this 7th day of January, 2005. 
  

	
	 /s/ Mark Ernst

	 Mark Ernst, Vice President,
 Human Resources,
 on behalf of Autobytel Inc.

  
 I understand and
agree that my re-execution of this Agreement shall update my release to waive any claims (as defined in paragraph 5) that may have accrued since I first executed this release. Re-executed after my separation, at Newport Beach, California, this 5th
day of May, 2005. 
  

	
	 /s/ Hoshi Printer

	 Hoshi Printer

  

 -11-

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