AutoWeb, Inc. terminated the employment of five officers of the Company without cause effective immediately, including Mr. John Skocilic, the Companys Executive Vice President, Chief Information Officer. The other terminated officers were the Companys Executive Vice President, Mobile, Lead Operations and Product Development; Senior Vice President, Technology; Vice President, Products; and Vice President, Dealer and Consumer Services. In connection with the termination of their employment, each of these former officers will be entitled to certain severance benefits as provided in their existing: (i) severance benefits agreements, conditioned upon the execution and delivery to AutoWeb, without revocation, of a separation agreement and release; and (ii) equity-based compensation award agreements.