Document:

EX-10.1

Exhibit 10.1

CSK AUTO CORPORATION

LONG-TERM INCENTIVE PLAN

ARTICLE I

ESTABLISHMENT; PURPOSE

SECTION 1.1 Establishment of LTIP. The Company hereby establishes the Long-Term Incentive
Plan (the “LTIP”) for certain of its executive officers listed on Schedule A attached hereto, as
amended from time to time (the “LTIP Participants”). The LTIP provides for the award of Incentive
Bonuses under Article X of the CSK Auto Corporation 2004 Stock and Incentive Plan (the “Plan”).
The LTIP is intended to be a part of the Plan and the terms of the Plan are incorporated herein by
reference.

SECTION 1.2 Purpose of LTIP. The purpose of the LTIP is to further align the interests of the
Company’s stockholders and the LTIP Participants by providing the LTIP Participants with
additional, cash-based long-term incentive compensation in the form of Incentive Bonus awards under
the Plan, the value of which are based upon the future value of the Common Stock over the Base
Amount.

ARTICLE II

DEFINITIONS

Unless otherwise specifically provided for herein, all capitalized terms used herein shall
have the same meanings as the meanings ascribed to such terms in the Plan. In addition, the
following words have the following meanings unless a different meaning plainly is required by the
context:

SECTION 2.1 “Base Amount” shall mean twenty dollars ($20) per Share, which figure shall be
subject to adjustment by the Committee pursuant to Section 14.2 of the Plan.

SECTION 2.2 “Competitive Activity” shall mean an LTIP Participant acting as an employee or
director of, or consultant to, any business or other endeavor that, directly or indirectly,
competes (or to the LTIP Participant’s knowledge, intends to compete or is preparing to compete
during the applicable period) anywhere in the United States in any manner with the business of the
Company or any of its Subsidiaries as conducted at the time of the LTIP Participant’s Termination
Date or any business endeavor that is under consideration by the Company or any of its Subsidiaries
as of such LTIP Participant’s Termination Date, including, without limitation, Auto Zone, Inc., The
Pep Boys – Manny, Moe & Jack, O’Reilly Automotive, Inc., Advance Stores Company, Incorporated or
Discount Auto Parts, Inc.

SECTION 2.3 “Company” for the purposes of the LTIP, the term “Company” shall mean CSK Auto
Corporation, a Delaware corporation, and its successors, purchasers and assigns. For purposes of
the LTIP, the term “Company” also includes, where appropriate, CSK Auto Corporation’s parent and
subsidiary corporations.

SECTION 2.4 “Disability” shall mean a condition under which an LTIP Participant either (a) is
unable to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment that can be expected to result in death or can be expected to last
for a continuous period of not less than twelve months, or (b) is, by reason of any medically
determinable physical or mental impairment that can be expected to result in death or can be
expected to last for a continuous period of not less than twelve months, receiving income
replacement benefits for a period of not less than three months under an accident and health plan
covering employees of the Company.

SECTION 2.5 “Effective Date” means the date the LTIP is approved by the Committee.

SECTION 2.6 “Good Reason” means on or after a Change in Control (a) any material and adverse
diminution in the LTIP Participant’s position, duties, or responsibilities; provided, however, that
during the period beginning on the date of a Change in Control and ending on the first anniversary
thereof, the employment of the LTIP Participant for the purpose of providing transition and
advisory services, and the attendant diminution in the LTIP Participant’s position, duties, and/or
responsibilities shall not, by itself, constitute Good Reason, (b) a reduction in the LTIP
Participant’s base salary or target annual bonus compensation; provided, however, that no change to
the LTIP Participant’s base salary and/or target annual bonus compensation shall be deemed a
reduction thereof for purposes of this Section 2.6(b) if (i) the ratio of base salary to target
annual bonus and/or the performance criteria upon which the annual bonus is based are consistent
with the ratio and/or performance criteria employed by the acquiror of the Company in the Change in
Control with respect to its senior executives, and (ii) the aggregate value of the base salary and
annual target bonus compensation provided to the LTIP Participant remains at least equal to that
provided to the LTIP Participant by the Company prior to the Change in Control; (c) a material
reduction in the employee benefits provided to the LTIP Participant, (d) a relocation of the LTIP
Participant’s principal place of employment of more than 50 miles without the prior consent of the
LTIP Participant or (e) any material breach of the LTIP by the Company which is not cured within 30
days of written notice thereof.

SECTION 2.7 “Incentive Bonus Unit” shall mean an Award of an Incentive Bonus, payable in cash,
granted pursuant to this LTIP and Article X of the Plan, the value of which on any Payment Date
shall be equal to the excess, if any, of (a) the LTIP Fair Market Value Per Share on the Payment
Date over (b) the Base Amount.

SECTION 2.8 “LTIP Fair Market Value Per Share” shall mean on any Payment Date (a) if the
Payment Date occurs on or following a Change in Control, the Per Share Transaction Value or (b) if
the Payment Date occurs prior to a Change in Control, the average of the per Share closing prices
of the Common Stock as reported on the New York Stock Exchange during the period beginning on the
third business day following the release of the Company’s fiscal year earnings for the year ending
immediately prior to the Payment Date and ending on April 30th of the calendar year in which the
Payment Date occurs.

SECTION 2.9 “Payment Date” shall mean (i) May 15th of each of the calendar years 2007, 2008,
2009 and 2010, and (ii) on or after a Change in Control, the date of the LTIP Participant’s death,
Disability, Retirement, termination by the Company without Cause or termination by the LTIP
Participant for Good Reason.

SECTION 2.10 “Per Share Transaction Value” shall mean the per Share value of the consideration
received by the Company’s common stockholders in a transaction that constitutes a Change in
Control, as determined by the Committee in good faith.

SECTION 2.11 “Plan Year” shall mean the period from May 1 of any calendar year until April 30
of the next following calendar year. The first Plan Year shall commence on May 1, 2006.

SECTION 2.12 “Retirement” shall mean a termination of an LTIP Participant’s employment with
the Company after having attained the age of 65; provided that, if requested by the Board, an LTIP
Participant otherwise electing to retire at age 65 must remain employed by the Company through the
age of 66. In addition, the Board may impose other conditions in an individual award agreement in
order for a Participant to be considered “retired” hereunder.

SECTION 2.13 “Termination Date” shall mean the date on which an LTIP Participant’s employment
with the Company terminates for any reason.

ARTICLE III

INCENTIVE BONUS AWARDS

SECTION 3.1 Incentive Bonus Awards. Pursuant to Article X of the Plan, on the Effective Date
of the LTIP, the Committee shall grant to each of the LTIP Participants that number of Incentive
Bonus Units set forth opposite the name of the LTIP Participant in Schedule A attached hereto.
Each Incentive Bonus Unit, to the extent vested, represents the right to receive a cash payment on
a Payment Date equal to the excess, if any, of the LTIP Fair Market Value Per Share on the Payment
Date over the Base Amount. Each award of Incentive Bonus Units shall be evidenced by an award
agreement entered into between the Company and the applicable LTIP Participant and shall be subject
to all of the terms and conditions set forth herein and in the Plan.

SECTION 3.2 Time-Based Vesting; Payment. Subject to the achievement of the Performance
Vesting Criteria described in Section 3.3 and except as provided in Section 4.1, (a) on each
Payment Date (other than a Payment Date that results from a termination of an LTIP Participant’s
employment with the Company on or following a Change in Control), each LTIP Participant shall be
entitled to receive a cash payment from the Company equal to the per share excess amount described
in Section 3.1 above multiplied by 25% of the aggregate number of Incentive Bonus Units awarded to
the LTIP Participant, so long as the LTIP Participant remains continuously employed by the Company
through the applicable Payment Date, and (b) on a Payment Date that results from a termination of
an LTIP Participant’s employment with the Company on or following a Change in Control, the LTIP
Participant whose employment was terminated shall be entitled to receive a cash payment from the
Company equal to the per share excess amount described in Section 3.1 above multiplied by 100% of
the aggregate number of Incentive Bonus Units awarded to the LTIP Participant and in respect of
which the LTIP Participant has not yet received payment pursuant to clause (a) of this Section 3.2.
If, on any Payment Date the LTIP Fair Market Value Per Share is less than or equal to the Base
Amount, the portion of each LTIP Participant’s Incentive Bonus Unit award that would otherwise have
been payable on that Payment Date shall be forfeited without consideration.

SECTION 3.3 Performance Vesting Criteria. Notwithstanding anything herein to the contrary, no
amounts shall be payable to any LTIP Participant on any Payment Date in respect of Incentive Bonus
Units awarded pursuant to the LTIP unless (a) the Market Value (as such term is defined in the
Plan) per Share exceeds the Base Amount on at least one day after the Effective Date and prior to
the Payment Date or (b) a Change in Control occurs on or prior to the Payment Date and the Per
Share Transaction Value exceeds the Base Amount (collectively, the “Performance Vesting Criteria”).
Prior to the payment in respect of any Incentive Bonus Units the Committee shall certify in
writing the extent to which the Performance Vesting Criteria has been satisfied, and the amount
payable as a result thereof. If on any Payment Date the Committee determines that the Performance
Vesting Criteria has not been achieved, that portion of each LTIP Participant’s Incentive Bonus
Unit award that would otherwise have become payable on the Payment Date shall be forfeited without
consideration. In the event that a Change in Control occurs and the Per Share Transaction Value is
less than the Base Amount, all outstanding Incentive Bonus Units shall be forfeited without
consideration as of the date of the Change in Control.

SECTION 3.4 Effect of Termination of Employment. Except as set forth in this Section 3.4, the
unpaid portion of an award of Incentive Bonus Units granted to an LTIP Participant shall be
forfeited without consideration immediately upon a LTIP Participant’s Termination Date.

(a) Death or Disability Prior to a Change in Control. In the event that an LTIP
Participant’s employment with the Company terminates by reason of the LTIP Participant’s death
or Disability and the Termination Date occurs during a Plan Year and prior to the occurrence of
a Change in Control, the LTIP Participant or his estate will be entitled to (i) 100% of the
amount, if any, that would have otherwise been payable to the LTIP Participant with respect to
the Plan Year in which the Termination Date occurs and (ii) 50% of the amount, if any, that
would have otherwise been payable to the LTIP Participant with respect to the Plan Year
immediately following the Plan Year in which the Termination Date occurs, in each case with such
amounts determined and paid as if the LTIP Participant had not died or become Disabled, but had
remained employed by the Company through the applicable Payment Date. In the event that an LTIP
Participant’s employment with the Company terminates by reason of the LTIP Participant’s death
or Disability and the Termination Date occurs on or after May 1, 2005, but prior to May 1, 2006
and prior to the occurrence of a Change in Control, the LTIP Participant or his estate will be
entitled to 50% of the amount, if any, that would have otherwise been payable to the LTIP
Participant with respect to the first Plan Year with such amount determined and paid as if the
LTIP Participant had not died or become Disabled, but had remained employed by the Company
through the applicable Payment Date.

(b) Termination Without Cause Prior to a Change in Control. In the event that an LTIP
Participant’s employment with the Company is terminated by the Company without Cause and the
Termination Date occurs after October 31, 2006 and prior to the occurrence of a Change in
Control, the LTIP Participant will be entitled to 100% of the amount, if any, that would have
otherwise been payable to the LTIP Participant with respect to the Plan Year in which the
Termination Date occurs, with such amount determined and paid as if the LTIP Participant had
remained employed by the Company through the applicable Payment Date. In the event that an LTIP
Participant’s employment with the Company is terminated by the Company without Cause prior to
November 1, 2006, all Incentive Bonus Units granted to the LTIP Participant will be forfeited
without consideration immediately upon such termination of employment.

(c) Retirement Prior to a Change in Control. In the event that an LTIP Participant’s
employment with the Company terminates by reason of the LTIP Participant’s Retirement and the
Termination Date occurs prior to the occurrence of a Change in Control, the LTIP Participant
will be entitled to 100% of the amounts, if any, that would have otherwise been payable to the
LTIP Participant pursuant to the LTIP, with such amounts determined and paid as if the LTIP
Participant had not retired but had remained employed by the Company through each of the
then-remaining Payment Dates.

(d) Termination Following a Change in Control. In the event that an LTIP Participant’s
employment with the Company terminates upon or following a Change in Control (i) by reason of
the LTIP Participant’s death, Disability or Retirement or (ii) by reason of a termination of
employment by the Company without Cause or by the LTIP Participant with Good Reason, the LTIP
Participant will be entitled to immediate payment of the amount described in Section 3.2(b)
above. Notwithstanding anything in this LTIP or the Plan to the contrary, (A) no payments to
any LTIP Participant under this LTIP will be accelerated upon a Change in Control unless and
until the LTIP Participant’s termination of employment by reason of death, Disability,
Retirement, involuntary termination without Cause, or voluntary termination for Good Reason
(prior to such a termination of employment, payments will continue to become payable upon the
applicable Payment Dates), (B) following a Change in Control, payment in respect of Incentive
Bonus Units shall be based upon the excess of the Per Share Transaction Value over the Base
Amount no matter when the Payment Date occurs, and (C) to the extent that payment in respect of
Incentive Bonus Units would be considered “deferred compensation” under Section 409A of the
Code, no amounts shall be payable to an LTIP Participant in respect of a Payment Date that
results from the termination of the LTIP Participant’s employment with the Company following a
Change in Control prior to the earlier of (x) the LTIP Participant’s death or Disability or (y)
the date that is six months following the LTIP Participant’s separation from service with the
Company (within the meaning of Section 409A).

(e) Other Termination. For the avoidance of doubt, in the event that an LTIP Participant’s
employment is terminated (i) by the Company for Cause (either prior to or following a Change in
Control), (ii) by the LTIP Participant for any reason other than Retirement prior to a Change in
Control, or (iii) by the LTIP Participant following a Change in Control other than with Good
Reason or by reason of Retirement, the LTIP Participant will immediately forfeit all remaining
Incentive Bonus Units and will not be entitled to any payments under the LTIP in respect of
Payment Dates occurring after the Termination Date.

SECTION 3.5 Forfeiture and Repayment of Incentive Bonus Awards.

(a) Competitive Activity. In the event that (i) an LTIP Participant’s employment with the
Company terminates prior to a Change in Control for any reason other than death, Disability or a
termination of employment by the Company without Cause and (ii) within the 12-month period
immediately following the Termination Date the LTIP Participant engages in any Competitive
Activity, the LTIP Participant (x) will be required to repay to the Company any payments
received by the LTIP Participant at any time following the Termination Date or within the
24-month period ending on the Termination Date and (y) will forfeit the right to receive any
future payments under the LTIP.

(b) Earnings Restatement; Termination for Cause. In the event that prior to a Change in
Control (i) the Company issues restated annual financial statements that reflect a material
reduction in previously published sales or earnings and such restatement is attributable, in
whole or in material part, directly or indirectly, to the malfeasance or gross negligence of an
LTIP Participant, or (ii) an LTIP Participant’s employment with the Company is terminated by the
Company for Cause, the LTIP Participant (x) will be required to repay to the Company any
payments received by the LTIP Participant at any time following the Termination Date or within
the 24-month period ending on either (A) with respect to repayments due to clause (i) of this
Section 3.5(b), the date the restatement is issued or (B) with respect to repayments due to
clause (ii) of this Section 3.5(b), the Termination Date, and (y) will forfeit the right to
receive any future payments under the LTIP.

(c) Enforcement. The Company shall be able to enforce its rights to repayment pursuant to
this Section 3.5 by all legal means available, including, without limitation, by withholding
such amount from other sums owed by the Company to the LTIP Participant.

ARTICLE IV

TAX MATTERS

SECTION 4.1 Automatic Deferral of Certain Payments. Notwithstanding any herein or in the Plan
to the contrary, in the event that the aggregate amount otherwise payable to an LTIP Participant on
any Payment Date taken together with all other cash payments made or to which the LTIP Participant
could become entitled to in respect of Incentive Bonus awards under Article X of the Plan during
the calendar year in which the Payment Date occurs exceeds $4,000,000, an amount equal to the
amount by which all such cash payments exceed $4,000,000 shall not be paid to the LTIP Participant
on the Payment Date, but instead will be automatically deferred and paid to the LTIP Participant
(or the LTIP Participant’s estate, as applicable) as soon as administratively feasible on or after
the earliest of (a) the date of the LTIP Participant’s death or Disability, (b) the date that is
six months following the date of the LTIP Participant’s “separation from service” with the Company
(within the meaning ascribed to such term in Section 409A of the Code and the regulations issued
thereunder) and (c) January 1, 2011. No interest or other earnings will be credited on amounts
that are deferred pursuant to this Section 4.1.

SECTION 4.2 Tax Indemnity Payments.

(a) Notwithstanding anything in this LTIP, the Plan, or any other agreement between an LTIP
Participant and the Company to the contrary, in the event that it shall be determined that the
aggregate payments or distributions by the Company, any purchaser, successor, or assign thereof,
or any of its or their affiliates to or for the benefit of an LTIP Participant, whether paid or
payable or distributed or distributable pursuant to the terms of the LTIP, the Plan or otherwise
but determined without regard to any additional payments required under this Article IV (each a
“Payment”), constitute “parachute payments” (as such term is defined under Section 280G of the
Code or any successor provision, and the regulations promulgated thereunder (collectively,
“Section 280G”)) which exceed three times the LTIP Participant’s “base amount” (as such term is
defined under Section 280G) and are therefore subject to the excise tax imposed by Section 4999
of the Code or any successor provision (collectively, “Section 4999”) or any interest or
penalties with respect to such excise tax (the total excise tax, together with any interest and
penalties, are hereinafter collectively referred to as the “Excise Tax”)), then the LTIP
Participant shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an
amount such that after payment by the LTIP Participant of all taxes (including any interest or
penalties imposed with respect to such taxes), including, without limitation, any federal, state
or local income and self-employment taxes and Excise Tax (and any interest and penalties imposed
with respect to any such taxes) imposed upon the Gross-Up Payment, the LTIP Participant retains
an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments.

(b) Subject to the provisions of Section 4.2(c) hereof, all determinations required to be
made under this Section 4.2, including whether and when a Gross-Up Payment is required and the
amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such
determination, shall be made by an independent accounting or compensation consulting firm
selected in good faith by the Company (the “Accounting Firm”), which shall provide detailed
supporting calculations both to the Company and the LTIP Participant within fifteen (15)
business days of the receipt of notice from the LTIP Participant to the Company’s General
Counsel that there has been a Payment, or such earlier time as is requested by the Company. All
fees and expenses of the Accounting Firm shall be borne solely by the Company. Any Gross-Up
Payment, as determined pursuant to this Section 4.2, shall be paid by the Company to the LTIP
Participant within five (5) business days of the receipt of the Accounting Firm’s determination
(it being understood, however, that the Gross Up Payment may, if permitted by law, be paid
directly to the applicable taxing authorities). If the Accounting Firm determines that no
Excise Tax is payable by the LTIP Participant, it shall furnish the LTIP Participant with a
written report detailing its determination. Any determination by the Accounting Firm shall be
binding upon the Company and the LTIP Participant. As a result of the uncertainty in the
application of Section 4999 at the time of the initial determination by the Accounting Firm
hereunder, it is possible that Gross-Up Payments which will not have been made by the Company
should have been made by the Company (an “Underpayment”), or that Gross-Up Payments will have
been made by the Company which should not have been made (an “Overpayment”), consistent with the
calculations required to be made hereunder. In either such event, the Accounting Firm shall
determine the amount of the Underpayment or Overpayment that has occurred. In the event that
the Company exhausts its remedies pursuant to Section 4.2(c) and the LTIP Participant thereafter
is required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount
of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the
Company to or for the benefit of the LTIP Participant. In the case of an Overpayment, the LTIP
Participant shall, at the direction and expense of the Company, take such steps as are
reasonably necessary (including, if reasonable, the filing of returns and claims for refund),
and otherwise reasonably cooperate with the Company to correct such Overpayment (or, if retained
by the LTIP Participant, at his own expense to repay such Overpayment); provided, however, that
(i) in the event of an Overpayment actually paid to the IRS or other relevant taxing authority,
and provided that the LTIP Participant uses his best efforts to seek a refund of any such
Overpayment, the LTIP Participant shall not be obligated to return to the Company an amount
greater than the net after-tax portion of the Overpayment that he has retained or has recovered
as a refund from the applicable taxing authorities and (ii) this provision shall be interpreted
in a manner consistent with the intent of Section 4.2(a) hereof to make the LTIP Participant
whole, on an after-tax basis, from the application of Section 4999.

(c) The LTIP Participant shall notify the Company in writing of any claim by the Internal
Revenue Service that, if successful, would require a payment by the Company, or a change in the
amount of the payment by the Company of, the Gross-Up Payment. Such notification shall be given
as soon as practicable after the LTIP Participant is informed in writing of such claim and shall
apprise the Company of the nature of such claim and the date on which such claim is requested to
be paid; provided that the failure to give any notice pursuant to this Section 4.2(c) shall not
impair the LTIP Participant’s rights under this Section 4.2 except to the extent the Company is
materially prejudiced thereby. The LTIP Participant shall not pay such claim prior to the
expiration of the 30-day period following the date on which the LTIP Participant gives such
notice to the Company (or such shorter period ending on the date that any payment of taxes with
respect to such claim is due). If the Company notifies the LTIP Participant in writing prior to
the expiration of such period that it desires to contest such claim, the LTIP Participant shall:

(i) give the Company any information reasonably requested by the
Company relating to such claim,

(ii) take such action in connection with contesting such claim as the
Company shall reasonably request in writing from time to time, including,
without limitation, accepting legal representation with respect to such
claim by an attorney reasonably selected by the Company,

(iii) cooperate with the Company in good faith in order effectively to
contest such claim, and

(iv) permit the Company to participate in any proceedings relating to
such claim; provided, however, that the Company shall bear and pay directly
all costs and expenses (including additional interest and penalties)
incurred in connection with such contest and shall indemnify and hold the
LTIP Participant harmless, on an after-tax basis, for any Excise Tax or
income, self-employment or other tax (including interest and penalties with
respect thereto) imposed as a result of such representation and payment of
costs and expenses.

Without limitation on the foregoing provisions of this Section 4.2(c), the Company shall control
all proceedings taken in connection with such contest and, at its sole option, may pursue or
forgo any and all administrative appeals, proceedings, hearings and conferences with the taxing
authority in respect of such claim and may, at its sole option, either direct the LTIP
Participant to pay the tax claimed and sue for a refund or contest the claim in any permissible
manner, and the LTIP Participant agrees to prosecute such contest to a determination before any
administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts,
as the Company shall determine; provided further, that if the Company directs the LTIP
Participant to pay such claim and sue for a refund, the Company shall advance the amount of such
payment to the LTIP Participant on an interest-free basis and shall indemnify and hold the LTIP
Participant harmless, on an after-tax basis, from any Excise Tax or income, self-employment or
other tax (including interest or penalties with respect to any such taxes) imposed with respect
to such advance or with respect to any imputed income with respect to such advance; and provided
further, that any extension of the statute of limitations relating to payment of taxes for the
taxable year of the LTIP Participant with respect to which such contested amount is claimed to
be due is limited solely to such contested amount. Furthermore, the Company’s control of the
contest shall be limited to issues with respect to which a Gross-Up Payment would be payable
hereunder and the LTIP Participant shall be entitled to settle or contest, as the case may be,
any other issue raised by the Internal Revenue Service or any other taxing authority.

(d) If, after the receipt by the LTIP Participant of any Overpayment or any amount advanced
by the Company pursuant to Section 4.2(c) hereof, the LTIP Participant becomes entitled to
receive, and receives, any refund with respect to such claim, the LTIP Participant shall
(subject to the Company’s complying with the requirements of Section 4.2(c) hereof) promptly pay
to the Company the amount of such refund (together with any interest paid or credited thereon
after taxes applicable thereto). If, after the receipt by the LTIP Participant of an amount
advanced by the Company pursuant to Section 4.2(c), a determination is made that the LTIP
Participant shall not be entitled to any refund with respect to such claim and the Company does
not notify the LTIP Participant in writing of its intent to contest such denial of refund prior
to the expiration of ninety (90) days after such determination, then such advance shall be
forgiven and shall not be required to be repaid and the amount of such advance shall offset, to
the extent thereof, the amount of Gross-Up Payment required to be paid.

SECTION 4.3 Tax Withholding. The Company shall deduct from all payments pursuant to Incentive
Bonus Unit awards under this LTIP any federal, state or local withholding taxes, social security
contributions and any other amounts which may be required to be deducted or withheld by the Company
pursuant to any federal, state or local laws, rules or regulations.

ARTICLE V

MISCELLANEOUS

SECTION 5.1 Committee Authority. Any question concerning the interpretation of the LTIP, any
adjustments required to be made under the LTIP, and any controversy that may arise under the LTIP
or any award agreement issued hereunder shall be determined by the Committee (including any
Subcommittee or other person(s) to whom the Committee has delegated its authority) in its sole and
absolute discretion. Such decision by the Committee shall be final and binding.

SECTION 5.2 Transferability. No Award of Incentive Bonus Units granted under this LTIP, nor
any interest in such Award, may be sold, assigned, conveyed, gifted, pledged, hypothecated or
otherwise transferred in any manner, other than by will or the laws of descent and distribution.

SECTION 5.3 LTIP Awards Subject to Plan. Except as specifically set forth herein, all awards
under this LTIP shall be subject to the all of the terms and conditions of the Plan as in effect
from time to time.

SECTION 5.4 Governing Law. This LTIP and any agreements or other documents hereunder shall be
interpreted and construed in accordance with the laws of the State of Delaware and applicable
federal law. Any reference in this LTIP or in the agreement or other document evidencing any
Incentive Bonus Unit to a provision of law or to a rule or regulation shall be deemed to include
any successor law, rule or regulation of similar effect or applicability.

SECTION 5.5 Dispute Resolution.

(a) Prior to a Change in Control, if an LTIP Participant or person claiming a right under
an Incentive Bonus Unit and/or the LTIP wishes to challenge any action of the Committee, the
person may do so only by submitting to binding arbitration with respect to such decision. The
review by the arbitrator will be limited to determining whether the LTIP Participant or other
person has proven that the Committee’s decision was arbitrary or capricious. This arbitration
will be the sole and exclusive review permitted of the Committee’s decision. LTIP Participants
and persons claiming rights under an Incentive Bonus Unit or the LTIP explicitly waive any right
to judicial review. Notice of demand for arbitration will be made in writing to the Committee
within thirty (30) days after the applicable decision by the Committee. The arbitrator will be
selected by mutual agreement of the Committee and the LTIP Participant. If the Committee and
the LTIP Participant are unable to agree on an arbitrator, the arbitrator will be selected by
the American Arbitration Association. The arbitrator, no matter how selected, must be neutral
within the meaning of the Commercial Rules of Dispute Resolution of the American Arbitration
Association. The arbitrator will administer and conduct the arbitration pursuant to the
Commercial Rules of Dispute Resolution of the American Arbitration Association. Each side will
bear its own fees and expenses, including its own attorney’s fees, and each side will bear one
half of the arbitrator’s fees and expenses; provided, however, that the arbitrator will have the
discretion to award the prevailing party its fees and expenses. The arbitrator will have no
authority to award exemplary, punitive, special, indirect, consequential, or other
extracontractual damages. The decision of the arbitrator on the issue(s) presented for
arbitration will be final and conclusive and any court of competent jurisdiction may enforce it.

(b) With respect to any action or proceeding brought following a Change in Control by
either the Company, an LTIP Participant, or a person claiming a right under an Incentive Bonus
Unit and/or the LTIP, (i) the courts of the State of Arizona and the United States District
Court for the District of Arizona shall have exclusive jurisdiction and (ii) the Company and
LTIP Participants consent to the jurisdiction of such courts, waive any objection to the laying
of venue in such courts and waive and agree not to plead or claim in any court that any such
action or proceeding brought in any such court has been brought in an inconvenient forum.

1

SCHEDULE A

	 	 	 	 	 
	Executive	 	Number of Incentive Bonus Units
	Maynard Jenkins
	 	 	1,000,000	 
	Martin Fraser
	 	 	500,000	 
	Larry Buresh
	 	 	250,000	 
	Larry Ellis
	 	 	250,000	 
	Dale Ward
	 	 	250,000	 
	Don Watson
	 	 	250,000	 

2EX-10.2

Exhibit 10.2

CSK AUTO CORPORATION

INCENTIVE BONUS UNIT AWARD AGREEMENT

INCENTIVE BONUS UNIT AWARD AGREEMENT (this “Agreement”) dated as of      , 2005 (the
“Grant Date”) between CSK Auto Corporation (the “Company”), and [NAME] (the “Executive”).

WHEREAS, pursuant to Article X of the Company’s 2004 Stock and Incentive Plan (the “Plan”) and
the Long-Term Incentive Plan established thereunder (the “LTIP”), the Committee desires to grant to
the Executive an award of Incentive Bonus Units; and

WHEREAS, the Executive desires to accept such award subject to the terms and conditions of
this Agreement.

NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements
contained herein, the Company and the Executive, intending to be legally bound, hereby agree as
follows:

1. Definitions. Except as otherwise specifically provided for herein, all capitalized
terms used herein shall have the same meanings as the meanings ascribed to such terms in the LTIP
and the Plan; provided that if the definitions contained in the LTIP and the Plan conflict, the
definition provided for in the LTIP shall control.

2. Grant. The Company hereby grants to the Executive, pursuant to the Plan and the LTIP,
an award of      Incentive Bonus Units (the “Incentive Bonus Unit Award”), subject to
the terms and conditions set forth herein and in the LTIP and the Plan. The Incentive Bonus Unit
Award is intended to be an award of an Incentive Bonus pursuant to the LTIP and Article X of the
Plan.

3. Value of Incentive Bonus Units. Pursuant to Section 3.1 of the LTIP, each Incentive
Bonus Unit, to the extent vested, represents the right to receive a cash payment on a Payment Date
equal to the excess, if any, of the LTIP Fair Market Value Per Share on the Payment Date over the
Base Amount.

4. Vesting; Payment. The Incentive Bonus Unit Award shall become vested and the Executive
shall receive payment in respect thereof in accordance with Article III of the LTIP. As provided
for in Section 3.2 of the LTIP, subject to the achievement of the Performance Vesting Criteria and
except as provided in Section 4.1 of the LTIP, (a) on each Payment Date (other than a Payment Date
that results from a termination of the Executive’s employment with the Company on or following a
Change in Control), the Executive will be entitled to receive a cash payment from the Company equal
to the per share excess amount described in Paragraph 3 above multiplied by 25% of the aggregate
number of Incentive Bonus Units set forth in Paragraph 2 above, so long as the Executive remains
continuously employed by the Company through the applicable Payment Date, and (b) on a Payment Date
that results from a termination of the Executive’s employment with the Company due to death,
Disability, Retirement, involuntary termination without Cause, or voluntary termination for Good
Reason on or following a Change in Control, the Executive shall be entitled to receive a cash
payment from the Company equal to the per share excess amount described in Paragraph 3 above
multiplied by 100% of the aggregate number of Incentive Bonus Units set forth in Paragraph 2 above
and in respect of which the Executive has not yet received payment pursuant to clause (a) of this
Paragraph 4. The Executive acknowledges and agrees that if, on any Payment Date the LTIP Fair
Market Value Per Share is less than or equal to the Base Amount, the portion of the Executive’s
Incentive Bonus Unit award that would otherwise have been payable on that Payment Date shall be
forfeited without consideration.

5. Forfeiture and Repayment. Pursuant to Section 3.5 of the LTIP, the Executive
acknowledges and agrees to the following:

(a) In the event that (i) the Executive’s employment with the Company terminates prior to a
Change in Control for any reason other than death, Disability or a termination of employment by the
Company without Cause and (ii) within the 12-month period immediately following the Termination
Date the Executive engages in any Competitive Activity, the Executive (x) will be required to repay
to the Company any payments received by the Executive at any time following the Termination Date or
within the 24-month period ending on the Termination Date and (y) will forfeit the right to receive
any future payments under the LTIP.

(b) In the event that prior to a Change in Control (i) the Company issues restated annual
financial statements that reflect a material reduction in previously published sales or earnings
and such restatement is attributable, in whole or in material part, directly or indirectly, to the
malfeasance or gross negligence of the Executive, or (ii) the Executive’s employment with the
Company is terminated by the Company for Cause, the Executive (x) will be required to repay to the
Company any payments received by the Executive at any time following the Termination Date or within
the 24-month period ending on the either (A) with respect to repayments due to clause (i) of this
Paragraph 5(b), the date the restatement is issued or (B) with respect to repayments due to clause
(ii) of this Paragraph 5(b), the Termination Date, and (y) will forfeit the right to receive any
future payments under the LTIP.

(c) The Company shall be able to enforce its rights to repayment pursuant to this Paragraph 5
and Section 3.5 of the LTIP by all legal means available, including, without limitation, by
withholding such amount from other sums owed by the Company to the Executive.

6. Retirement.1 Notwithstanding anything in the LTIP or the Plan to the
contrary, in order for the Executive to be considered Retired for purposes of this Agreement and
the LTIP, if requested by the Board (and elected by the Company’s stockholders), the Executive must
continue to serve, following his termination of employment, as a member of the Board until April
30, 2010 (the “Continuation Period”) and must provide reasonably requested consulting services
regarding matters of Company strategy from time to time during the Continuation Period while
serving in such capacity. So long the Executive continues to serve as a member of the Board and
provides reasonably requested consulting services during any Continuation Period, upon each Payment
Date, the Executive will be considered Retired for the purposes of this LTIP.

7. Committee Authority. Any question concerning the interpretation of this Agreement, the
LTIP or the Plan and any controversy that may arise under this Agreement, the LTIP or the Plan
shall be determined by the Committee in its sole and absolute discretion. All decisions by the
Committee shall be final and binding.

8. Application of the Plan. The terms of this Agreement are governed by the terms of the
LTIP and the Plan, as each exists on the date hereof and as each is amended from time to time. In
the event of any conflict between the provisions of this Agreement and the provisions of the LTIP
and/or the Plan, the terms of the LTIP and/or the Plan, as applicable shall control, except as
expressly stated otherwise herein. In the event of any conflict between the provisions of the LTIP
and the Plan as each relates to this Agreement, the terms of the LTIP shall control. As used
herein, the term “Section” generally refers to provisions within the LTIP or the Plan, as
applicable, and the term “Paragraph” refers to provisions of this Agreement.

9. No Right to Continued Employment. Nothing in this Agreement, the LTIP or the Plan shall
interfere with or limit in any way the right of the Company, its Subsidiaries and/or its affiliates
to terminate the Executive’s employment at any time or for any reason not prohibited by law, nor
confer upon the Executive any right to continue his or her employment for any specified period of
time.

10. Further Assurances. Each party hereto shall cooperate with each other party, shall do
and perform or cause to be done and performed all further acts and things, and shall execute and
deliver all other agreements, certificates, instruments, and documents as any other party hereto
reasonably may request in order to carry out the intent and accomplish the purposes of this
Agreement, the LTIP and the Plan.

11. Discretionary Award. The award of Incentive Bonus Units under this Agreement is
intended to be discretionary incentive compensation, is being provided in addition to and apart
from the regular wages paid to the Executive and will not be considered part of such regular wages
for purposes of computing severance or other employee benefits to which the Executive may be
entitled.

12. Assignment or Transfer Prohibited. The Incentive Bonus Units may not be assigned or
transferred otherwise than by will or by the laws of descent and distribution. None of the
Incentive Bonus Units nor any right hereunder shall be subject to attachment, execution or other
similar process. In the event of any attempt by the Executive to alienate, assign, pledge,
hypothecate or otherwise dispose of any of the Incentive Bonus Units or any right hereunder, except
as provided for herein, or in the event of the levy or any attachment, execution or similar process
upon the rights or interests hereby conferred, the Company may terminate the Incentive Bonus Units
by notice to the Executive, and the Incentive Bonus Units shall thereupon become null and void.

13. Entire Agreement. This Agreement, the LTIP and the Plan together set forth the entire
agreement and understanding between the parties as to the subject matter hereof and supersede all
prior oral and written and all contemporaneous or subsequent oral discussions, agreements and
understandings of any kind or nature.

14. Successors and Assigns. The provisions of this Agreement will inure to the benefit of,
and be binding on, the Company and its successors and assigns and the Executive and Executive’s
legal representatives, heirs, legatees, distributees, assigns and transferees by operation of law,
whether or not any such person will have become a party to this Agreement and agreed in writing to
join herein and be bound by the terms and conditions hereof.

15. Dispute Resolution. Pursuant to Section 5.5 of the LTIP, the Company and the Executive
acknowledge and agree that:

(a) Prior to a Change in Control, if the Executive or any person claiming a right under the
Agreement and/or the LTIP wishes to challenge any action of the Committee, the person may do so
only by submitting to binding arbitration with respect to such decision. The review by the
arbitrator will be limited to determining whether the Executive or other person has proven that the
Committee’s decision was arbitrary or capricious. This arbitration will be the sole and exclusive
review permitted of the Committee’s decision. The Executive and other persons claiming rights
under an this Agreement or the LTIP explicitly waive any right to judicial review. Notice of
demand for arbitration will be made in writing to the Committee within thirty (30) days after the
applicable decision by the Committee. The arbitrator will be selected by mutual agreement of the
Committee and the Executive. If the Committee and the Executive are unable to agree on an
arbitrator, the arbitrator will be selected by the American Arbitration Association. The
arbitrator, no matter how selected, must be neutral within the meaning of the Commercial Rules of
Dispute Resolution of the American Arbitration Association. The arbitrator will administer and
conduct the arbitration pursuant to the Commercial Rules of Dispute Resolution of the American
Arbitration Association. Each side will bear its own fees and expenses, including its own
attorney’s fees, and each side will bear one half of the arbitrator’s fees and expenses; provided,
however, that the arbitrator will have the discretion to award the prevailing party its fees and
expenses. The arbitrator will have no authority to award exemplary, punitive, special, indirect,
consequential, or other extracontractual damages. The decision of the arbitrator on the issue(s)
presented for arbitration will be final and conclusive and any court of competent jurisdiction may
enforce it.

(b) With respect to any action or proceeding brought following a Change in Control by either
the Company, the Executive, or a person claiming a right under this Agreement and/or the LTIP, (i)
the courts of the State of Arizona and the United States District Court for the District of Arizona
shall have exclusive jurisdiction and (ii) the Company and the Executive consent to the
jurisdiction of such courts, waive any objection to the laying of venue in such courts and waive
and agree not to plead or claim in any court that any such action or proceeding brought in any such
court has been brought in an inconvenient forum.

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

	 	 	 
	 
	 	 
	 
	 	 
	
 
	 	CSK AUTO CORPORATION

By:
	
 
	 	Name:
	[EXECUTIVE]

	 	Title:

1Note: This provision would only be included in the
Maynard Jenkins Incentive Bonus Unit Agreement.

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