Document:

Form of Restricted Share Award Agreement

 Exhibit 10.27 
 ASBURY AUTOMOTIVE GROUP, INC. 
 2002 EQUITY INCENTIVE PLAN 
 RESTRICTED SHARE AWARD AGREEMENT 
 RESTRICTED
SHARE AWARD AGREEMENT UNDER THE ASBURY AUTOMOTIVE GROUP, INC. 2002 EQUITY INCENTIVE PLAN dated as of DATE (the “Grant Date”), between Asbury Automotive Group, Inc., a Delaware Corporation (the “Company”), and NAME 
 This Restricted Share Award Agreement (this “Award Agreement”) sets forth the terms and conditions of an award of Number shares (the
“Award”) of the Company’s Common Stock, $0.01 par value (“Shares”), that are subject to certain restrictions on transfer and risks of forfeiture and other terms and conditions specified herein (“Restricted Shares”)
and that are granted to you under the Asbury Automotive Group, Inc. 2002 Equity Incentive Plan (the “Plan”). 
 THIS AWARD IS
SUBJECT TO ALL TERMS AND CONDITIONS OF THE PLAN AND THIS AWARD AGREEMENT. BY SIGNING YOUR NAME BELOW, YOU WILL HAVE CONFIRMED YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS OF THIS AWARD AGREEMENT. 
 SECTION 1. Definitions. Capitalized terms used in this Award Agreement that are not defined in this Award Agreement have the meanings as used or
defined in the Plan. As used in this Award Agreement, the following terms have the meanings set forth below: 
 “Business
Day” means a day that is not a Saturday, a Sunday or a day on which banking institutions are legally permitted to be closed in the City of New York. 
 “Disability” means a physical or mental disability or infirmity that prevents the performance by you of your duties in the course of your service lasting (or likely to last) for a continuous period of
six months or longer. The determination of the existence of Disability shall be made by the Committee in good faith, and the Committee’s determination shall be conclusive for purposes of this Award. 
 “Vesting Date” means any date on which your rights with respect to all or a portion of the Restricted Shares subject to this Award
Agreement may become fully vested, and the restrictions set forth in this Award Agreement may lapse, as provided in Section 3(a) of this Award Agreement. 
 SECTION 2. The Plan. This Award is made pursuant to the Plan, the terms of which are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan. The grant and terms
of this Award are subject to the provisions of the Plan and to interpretations, regulations and determinations concerning the Plan established from time to time by the Committee in accordance with the provisions of the Plan, including, but not
limited to, provisions pertaining to (a) rights 

 
and obligations with respect to withholding taxes, (b) the registration, qualification or listing of the Company’s shares, (c) capital or
other changes of the Company and (d) other requirements of applicable law. The Committee shall have the authority to interpret and construe this Award pursuant to the terms of the Plan, and its decisions shall be conclusive as to any questions
arising hereunder. 
 SECTION 3. Vesting and Delivery. (a) Vesting. On each Vesting Date set forth below, your rights with
respect to the number of Restricted Shares that corresponds to such Vesting Date, as specified in the chart below, shall become vested, and the restrictions set forth in this Award Agreement shall lapse, provided that you must be employed as of the
applicable Vesting Date, except as otherwise determined by the Committee in its sole discretion. 
  

			
	 Vesting Date
	  	 Number of Shares Vested

	First anniversary of the Grant Date	  	NUMBER
	Second anniversary of the Grant Date	  	NUMBER
	Third anniversary of the Grant Date	  	NUMBER

 In the event of a Change of Control (as defined in the Plan) after the Grant Date, the Restricted
Shares, to the extent then outstanding and unvested, shall automatically be deemed vested as of immediately prior to such Change of Control, as contemplated by Section 8 of the Plan. In the event your employment is terminated due to your
(a) death or (b) Disability, the Restricted Shares, to the extent then outstanding and unvested, shall automatically be deemed vested as of the date of your termination by reason of such death or Disability. The Committee, in its sole
discretion, may accelerate the vesting of all or any portion of the Restricted Shares, at any time and from time to time. 
 (b) Delivery
of Shares. On or following the Grant Date, certificates issued in respect of Restricted Shares shall be registered in your name and deposited by you, together with a stock power endorsed in blank, with the Company or such other custodian as may
be designated by the Committee or the Company, and shall be held by the Company or other custodian, as applicable, until such time, if any, as your rights with respect to such Restricted Shares become vested. Upon the vesting of your rights with
respect to such Restricted Shares, the Company or other custodian, as applicable, shall deliver such certificates to you or your legal representative. 
 SECTION 4. Forfeiture of Restricted Shares. Unless the Committee determines otherwise or except as otherwise set forth in Section 3(a), if your rights with respect to any Restricted Shares or Retained
Distributions (as defined below) awarded to you pursuant to this Award Agreement have not become vested prior to the date on which your employment is terminated, your rights with respect to such Restricted Shares or Retained Distributions shall
immediately terminate, and you will be entitled to no further payments or benefits with respect thereto. 
  

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 SECTION 5. Voting Rights; Dividend Equivalents. Until the forfeiture of any Restricted Shares
pursuant to Section 4 above and subject to Sections 3 and 6 hereof, you shall have the right to vote such Restricted Shares, to receive and retain all regular cash dividends paid on such Restricted Shares and to exercise all other rights,
powers and privileges of a holder of Shares with respect to such Restricted Shares; provided that the Company will retain custody of all distributions other than regular cash dividends (“Retained Distributions”) made or declared
with respect to the Restricted Shares (and such Retained Distributions will be subject to the same restrictions, terms and conditions as are applicable to the Restricted Shares) until such time, if ever, as the Restricted Shares with respect to
which such Retained Distributions have been made, paid or declared have become vested, and such Retained Distributions shall not bear interest or be segregated in a separate account. 
 SECTION 6. Non-Transferability of Restricted Shares and Retained Distributions. Unless otherwise provided by the Committee in its discretion,
Restricted Shares and Retained Distributions may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered except as provided in Section 9(a) of the Plan. Any purported assignment, alienation, pledge,
attachment, sale or other transfer or encumbrance of Restricted Shares or Retained Distributions in violation of the provisions of this Section 6 and Section 9(a) of the Plan shall be void. 
 SECTION 7. Taxes, Consents, Stop Transfer Orders and Legends. (a) Taxes. The vesting of any Shares pursuant to Section 3(a) and
the delivery of Share certificates pursuant to Section 3(b) are conditioned on satisfaction of any applicable withholding taxes in accordance with Section 9(d) of the Plan. You are solely responsible and liable for the satisfaction of all
taxes and penalties that may arise in connection with this Award Agreement (including any taxes arising under Section 409A of the Code), and the Company shall not have any obligation to indemnify or otherwise hold you harmless from any or all
of such taxes. The Committee shall have the discretion to unilaterally modify this Award Agreement in a manner that it in good faith believes conforms with the requirements of Section 409A of the Code for any distribution event that could be
expected to violate Section 409A of the Code, in order to make the distribution only upon a “permissible distribution event” within the meaning of Section 409A of the Code (as determined by the Committee in good faith). The
Committee shall have the sole discretion to interpret the requirements of the Code, including Section 409A, for purposes of the Plan and this Award Agreement. 
 (b) Consents. Your rights in respect of the Restricted Shares are conditioned on the receipt to the full satisfaction of the Committee of (i) any required consents that the Committee may determine to be
necessary or advisable (including, without limitation, your consenting to the Company’s supplying to any third-party recordkeeper of the Plan such personal information as the Committee deems advisable to administer the Plan, (ii) your
making or entering into such written representations, warranties and agreements in connection with the acquisition of any Shares pursuant to 

  

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this Award as the Committee may request in order to comply with applicable securities laws or this Award and (iii) a stock power endorsed by you in
blank in accordance with Section 3(b). 
 (c) Stop Transfer Orders and Legends. The Company may affix to certificates for Shares
issued pursuant to this Award Agreement any legend that the Committee determines to be necessary or advisable (including to reflect any restrictions to which you may be subject under any applicable securities laws). The Company may advise the
transfer agent to place a stop order against any legended Shares. 
 SECTION 8. Successors and Assigns of the Company. The terms and
conditions of this Award Agreement shall be binding upon and shall inure to the benefit of the Company and its successors and assigns. 
 SECTION 9. Committee Discretion. Subject to the terms of the Plan, the Committee shall have full and plenary discretion with respect to any actions to be taken or determinations to be made in connection with this Award Agreement, and
its determinations shall be final, binding and conclusive. 
 SECTION 10. Notice. All notices, requests, demands and other
communications required or permitted to be given under the terms of this Award Agreement shall be in writing and shall be deemed to have been duly given when delivered by hand or overnight courier or three Business Days after they have been mailed
by U.S. registered mail, return receipt requested, postage prepaid, addressed to the other party as set forth below: 
  

			
	If to the Company:	  	 Asbury Automotive Group, Inc.
 622 Third
Avenue
 37th Floor
 New York, NY 10017
 Attention: General Counsel
 Fax : (212) 212-297-2653

		
	If to you:	  	 NAME
 ADDRESS

 The parties may change the address to which notices under this Award Agreement shall be sent by providing written
notice to the other in the manner specified above. Notwithstanding the above, the Company and its Affiliates may provide notice to you by email or other electronic means to which you have regular access. 
 SECTION 11. Section 409A. This Award Agreement and the Award are intended to be exempt from the provisions of Section 409A of the Code
and Department of Treasury regulations and other interpretive guidance issued thereunder, as providing for the transfer of restricted property as described in Section 1.409A-1(b)(6) of the Department of Treasury regulations. Notwithstanding any
provision of this Award 

  

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Agreement to the contrary, in the event that the Committee determines that the Award may be subject to Section 409A of the Code, the Committee may adopt
such amendments this Award Agreement or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate to
(a) exempt the Award from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Award, or (b) comply with the requirements of Section 409A of the Code and related
Department of Treasury guidance and thereby avoid the application of penalty taxes under Section 409A of the Code. 
 SECTION 12.
Headings. Headings are given to the Sections and subsections of this Award Agreement solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of
this Award Agreement or any provision thereof. 
 SECTION 13. Amendment of this Award Agreement. The Committee may waive any
conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate this Award Agreement prospectively or retroactively; provided, however, that any such waiver, amendment, alteration, suspension,
discontinuance, cancelation or termination that would materially and adversely impair your rights under this Award Agreement shall not to that extent be effective without your consent (it being understood, notwithstanding the foregoing proviso, that
this Award Agreement and the Restricted Shares shall be subject to the provisions of Sections 6(d), 7(a) and 7(c) of the Plan). 
 SECTION 14. Counterparts. This Award Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 IN WITNESS WHEREOF, the parties have duly executed this Award Agreement as of the date first written above. 
  

			
	ASBURY AUTOMOTIVE GROUP, INC.,
		
	by	 	  

	Name:	 	
	Title:	 	
		
	 NAME,
	 	
		
		 	  

  

 5Fourth Amendment to Credit Agreement dated October 1, 2007

 Exhibit 10.40 
 FOURTH AMENDMENT TO 
 CREDIT AGREEMENT 
 This FOURTH AMENDMENT TO CREDIT AGREEMENT (the “Fourth Amendment or this “Amendment”), effective as of October 1, 2007,
is entered into by and among Asbury Automotive Group, Inc. (the “Company”), each of the subsidiaries of the Company listed on the signature pages hereof (the “Floor Plan Borrowers”), each of the Lenders
listed on the signature pages hereof (the “Lenders”), JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders (the “Agent”), JPMorgan Chase Bank, N.A., as Floor Plan Agent for the Lenders
(the “Floor Plan Agent”) and Bank of America, N.A., as Syndication Agent. 
 PRELIMINARY STATEMENT 
 WHEREAS, the Company, the Floor Plan Borrowers, the Lenders, the Agent, the Floor Plan Agent and the Syndication Agent entered into that certain
Revolving Credit Agreement dated March 23, 2005, as amended by that First Amendment to Credit Agreement and Waiver, effective March 1, 2006, that Second Amendment to Credit Agreement dated August 1, 2006 and that Third Amendment to
Credit Agreement dated March 8, 2007 (as so amended, and as further amended from time to time, the “Credit Agreement”), under the terms of which such Lenders agreed to make available to the Company (a) a revolving credit
commitment not to exceed at any time $125,000,000.00 and (b) a floor plan loan commitment not to exceed $425,000,000.00; and 
 WHEREAS, the Company and the Floor Plan Borrowers have requested the Lenders, the Agent and the Floor Plan Agent to amend further certain provisions of the Credit Agreement; and 
 WHEREAS, the Lenders, the Agent and the Floor Plan Agent have agreed to do so to the extent reflected in this Amendment. 
 NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration and the mutual benefits, covenants and agreements
herein expressed, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Defined
Terms. All capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement. 
 2. Amendments to Section 1.1. (a) Section 1.1 of the Credit Agreement is hereby amended by (i) restating the definition of “Silo Borrowers” contained therein, to read as
follows: 
 “Silo Borrowers” means those Subsidiaries engaged in the sale of New Motor Vehicles manufactured
by: (i) Ford Motor 

  

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Company (including Mazda); (ii) General Motors Corporation or any of their subsidiaries; (iii) Chrysler LLC or DaimlerChrysler AG or any of their
Affiliates or Subsidiaries. 
 and (ii) by amending the definition of “Revolving Credit Borrowing Base” by deleting the phrase
“excluding Toyota/Lexus Floor Plan Borrowers” therefrom. 
 3. Amendment of Section 10.1(o).
Section 10.1(o) is amended and restated in its entirety as follows: 
 “(o) Indebtedness of any Silo Borrower
(which, for purposes of this Section 10.1(o), shall include any Silo Borrower that is both a Silo Borrower and a Floor Plan Borrower) consisting of floor plan financing for New Motor Vehicles provided by Ford Motor Credit Company,
General Motors Acceptance Corporation (“GMAC”), DaimlerChrysler Financial Services Americas LLC (“DCFS”) or DCFS USA LLC (“DCFS USA”) to such Subsidiary (“Permitted New Vehicle Floor Plan
Indebtedness”), provided (i) such financing applies only to New Motor Vehicles sold to such Subsidiary by a Manufacturer affiliated with Ford Motor Credit Company, GMAC, DCFS or DCFS USA and that have never been and are not
subject to a security interest in favor of the Agent other than as contemplated in an intercreditor agreement as described below in this Section 10.1(o), (ii) such Indebtedness is secured solely by a Lien on said New Motor Vehicles
and the proceeds thereof and such other collateral as agreed by Agent and the Required Lenders, and (iii) the Agent shall have executed with Ford Motor Credit Company, GMAC, DCFS and DCFS USA an Intercreditor Agreement, reasonably satisfactory
to the Agent, the Floor Plan Agent and the Required Lenders, setting forth the respective rights of each party in the assets of such Silo Borrower;” 
 4. Amendment to Exhibit 9.5(g). Exhibit 9.5(g) of the Credit Agreement is hereby amended and restated in its entirety in the form of Exhibit 9.5(g) to the Fourth Amendment. 
 5. Amendment to Section 11.4(a). Section 11.4(a) of the Credit Agreement is hereby amended to delete the proviso in
Section (ii) of the first sentence of such section. 
 6. Toyota/Lexus Borrowers and Documents Generally. Simultaneously herewith
all of the Toyota/Lexus Floor Plan Borrowers have executed or will execute Addendum and Joinder Agreements pursuant to which said entities become party to the Guaranty Agreement and the Security Agreement and, henceforth, there will be no
distinction between the Toyota/Lexus Floor Plan Borrowers and the other Floor Plan Borrowers under said documents or the Credit Agreement, nor shall there be any distinction between the Security Agreement (Toyota/Lexus Inventory) and the Security
Agreement (Toyota/Lexus Non-Inventory) on the one 

  

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hand and the Security Agreement on the other. The Security Agreement (Toyota/Lexus Inventory) and the Security Agreement (Toyota/Lexus Non-Inventory) are
hereby amended and restated in the form of the Security Agreement. The Credit Agreement is hereby amended mutatis mutandis to reflect said changes described in this Section 6, in addition to the specific amendments described in
Sections 3 and 5 above. 
 7. Ratification. The Company and each of the Floor Plan Borrowers hereby ratify all of its Obligations
under the Credit Agreement and each of the Loan Documents to which it is a party, and agrees and acknowledges that the Credit Agreement and each of the Loan Documents to which it is a party are and shall continue to be in full force and effect as
amended and modified by this Amendment. Nothing in this Amendment extinguishes, novates or releases any right, claim, lien, security interest or entitlement of any of the Lenders, the Agent or the Floor Plan Agent created by or contained in any of
such documents nor is the Company nor any Floor Plan Borrower released from any covenant, warranty or obligation created by or contained herein or therein. 
 8. Representations and Warranties. The Company and each of the Floor Plan Borrowers hereby represents and warrants to the Administrative Agent and the Lenders that (a) this Amendment has been duly executed
and delivered on behalf of the Company and each of the Floor Plan Borrowers, (b) this Amendment constitutes a valid and legally binding agreement enforceable against the Company and each of the Floor Plan Borrowers in accordance with its terms,
subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in
equity or at law, (c) the representations and warranties contained in the Credit Agreement and the Loan Documents are true and correct on and as of the date hereof in all material respects as though made as of the date hereof, except as
heretofore otherwise disclosed in writing to the Agent, (d) no Default or Event of Default exists under the Credit Agreement or under any Loan Document and (e) the execution, delivery and performance of this Amendment has been duly
authorized by the Company and each of the Floor Plan Borrowers. 
 9. Conditions to Effectiveness. This Amendment shall be effective
upon the execution and delivery hereof by all parties to the Agent and receipt by the Agent of the following in form satisfactory to the Agent: 
 (a) this Amendment; 
 (b) a certificate of an officer and of the secretary or an assistant secretary of each of the Company, and
each Floor Plan Borrower certifying, inter alia, (i) copies of each of the articles or certificate of incorporation or organization, as amended and in effect, of such Person, the bylaws or Operating Agreement or regulations, as amended
and in effect, of such Person (or a statement that such documents have not changed) and the resolutions adopted by the Board of Directors or Managers of such Person (A) authorizing the execution, delivery and performance by such Person of the
Loan Documents to which it is or will be a party, and (B) approving the form of this Amendment and (ii) the incumbency and specimen signatures of the officers of such Person executing any documents on its behalf; 
  

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 (c) the payment to the Agent of all billed fees and expenses (including the billed fees and disbursements
of Andrews Kurth LLP); 
 (d) an Intercreditor Agreement between the Agent and DCFS USA; and 
 (e) such other consents, approvals, opinions or documents as the Agent or the Lenders may reasonably request. 
 10. Release and Indemnity. (a) The Company does hereby release and forever discharge the Agent, Floor Plan Agent and each of the Lenders and
each affiliate thereof and each of their respective employees, officers, directors, trustees, agents, attorneys, successors, assigns or other representatives from any and all claims, demands, damages, actions, cross-actions, causes of action, costs
and expenses (including legal expenses), of any kind or nature whatsoever, whether based on law or equity, which any of said parties has held or may now or in the future own or hold, whether known or unknown, for or because of any matter or thing
done, omitted or suffered to be done on or before the actual date upon which this Amendment is signed by any of such parties (a) arising directly or indirectly out of the Loan Documents, or any other documents, instruments or any other
transactions relating thereto and/or (b) relating directly or indirectly to all transactions by and between the Company, the Floor Plan Borrowers, or their representatives and the Agent, the Floor Plan Agent and each Lender or any of their
respective directors, officers, agents, employees, attorneys or other representatives. Such release, waiver, acquittal and discharge shall and does include, without limitation, any claims of usury, fraud, duress, misrepresentation, lender liability,
control, exercise of remedies and all similar items and claims, which may, or could be, asserted by the Company or any Floor Plan Borrower including any such caused by the actions or negligence of the indemnified party (other than its gross
negligence or willful misconduct). 
 (b) The Company and each Floor Plan Borrower hereby ratifies the indemnification provisions
contained in the Loan Documents, including, without limitation, Section 13.4 of the Credit Agreement, and agrees that this Amendment and losses, claims, damages and expenses related thereto shall be covered by such indemnities.

 11. Counterparts. This Amendment may be signed in any number of counterparts, which may be delivered in original or facsimile form
each of which shall be construed as an original, but all of which together shall constitute one and the same instrument. 
 12. Governing
Law. This Amendment, all Notes, the other Loan Documents and all other documents executed in connection herewith shall be deemed to be contracts and agreements under the laws of the State of New York and of the United States of America and
for all purposes shall be construed in accordance with, and governed by, the laws of New York and of the United States. 
 13. Final
Agreement of the Parties. Any previous agreement among the parties with respect to the subject matter hereof is superseded by the Credit Agreement, as amended by this Amendment. Nothing in this Amendment, express or implied is intended to
confer upon any party other than the parties hereto any rights, remedies, obligations or liabilities under or by reason of this Amendment. 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized as of the date first above written. 
 [Signature on separate pages] 

Signature Page to 
 Fourth
Amendment to Credit Agreement

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