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Exhibit 4.3    
  

        FIRST
SUPPLEMENTAL INDENTURE (this "Supplemental Indenture"), dated as of March 19, 2003, among the Subsidiaries of the Company (as
defined below) listed on Schedule II hereto (the "Guaranteeing Subsidiaries"), Asbury Automotive Group, Inc., a Connecticut corporation
(the "Company"), the other Guarantors (as defined in the Indenture referred to herein) and The Bank of New York, as trustee under the indenture referred
to below (the "Trustee"). 

 
 

W I T N E S S E T H    
  

        WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the "Indenture"), dated as
of June 5, 2002 providing for the issuance of 9% Senior Subordinated Notes due 2012 (the "Notes"); 

        WHEREAS,
the Indenture provides that under certain circumstances the Guaranteeing Subsidiaries shall execute and deliver to the Trustee a supplemental indenture pursuant to which each
Guaranteeing Subsidiary shall unconditionally guarantee all of the Company's Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the
"Subsidiary Guarantee"); 

        WHEREAS
the Indenture provides that the Company, the Guarantors and the Trustee may amend or supplement the Indenture without the consent of any Holder of a Note to cure any ambiguity,
defect or inconsistency or to make a modification of a formal, minor or technical nature or to correct a manifest error; and 

        WHEREAS,
pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 

        NOW
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Guaranteeing Subsidiaries,
the other
Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

        1.    CAPITALIZED
TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 

        2.    AGREEMENT
TO GUARANTEE. Each Guaranteeing Subsidiary hereby agrees as follows: 

        (a)  Along
with all Guarantors named in the Indenture, to jointly and severally Guarantee to each Holder of a Note authenticated and delivered by the Trustee and to the
Trustee and its successors and assigns, the Notes or the obligations of the Company hereunder or thereunder, that: 

          (i)  the
principal of and interest on the Notes will be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the
overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Company to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or
performed, all in accordance with the terms hereof and thereof; and 

        (ii)  in
case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will be promptly paid in full when due or performed in
accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any amount so guaranteed or any performance so guaranteed
for whatever reason, the Guarantors shall be jointly and severally obligated to pay the same immediately. 

        (b)  The
obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or the Indenture, the absence of any action to
enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the 

 

recovery of any judgment against the Company, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. 

        (c)  The
following is hereby waived: diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any
right to require a proceeding first against the Company, protest, notice and all demands whatsoever. 

        (d)  This
Subsidiary Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes and the Indenture, and such Guaranteeing
Subsidiary accepts all obligations of a Guarantor under the Indenture. 

        (e)  If
any Holder or the Trustee is required by any court or otherwise to return to the Company, the Guarantors, or any Custodian, Trustee, liquidator or other similar
official acting in relation to either the Company or the Guarantors, any amount paid by either to the Trustee or such Holder, this Subsidiary Guarantee, to the extent theretofore discharged, shall be
reinstated in full force and effect. 

        (f)    Such
Guaranteeing Subsidiary shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment
in full of all obligations guaranteed hereby. 

        (g)  As
between the Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be
accelerated as provided in Article 6 of the Indenture for the purposes of this Subsidiary Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in
respect of the obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of such obligations as provided in Article 6 of the Indenture, such obligations
(whether or not due and payable) shall forthwith become due and payable by the Guarantors for the purpose of this Subsidiary Guarantee. 

        (h)  The
Guarantors shall have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does not impair the rights of
the Holders under the Guarantee. 

        (i)    Pursuant
to Section 10.02 of the Indenture, after giving effect to any maximum amount and any other contingent and fixed liabilities that are relevant under any
applicable Bankruptcy or fraudulent conveyance laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Guarantor in
respect of the obligations of such other Guarantor under Article 10 of the Indenture, this new Subsidiary Guarantee shall be limited to the maximum amount permissible such that the obligations
of such Guarantor under this Subsidiary Guarantee will not constitute a fraudulent transfer or conveyance. 

        3.    EXECUTION
AND DELIVERY. Each Guaranteeing Subsidiary agrees that the Subsidiary Guarantees shall remain in full force and effect notwithstanding any failure to endorse on
each Note a notation of such Subsidiary Guarantee. 

        4.    GUARANTEEING
SUBSIDIARIES MAY CONSOLIDATE, ETC. ON CERTAIN TERMS. 

        (a)  No
Guaranteeing Subsidiary may sell or otherwise dispose of all or substantially all of its assets to or consolidate with or merge with or into (whether or not such
Guarantor is the surviving Person) another corporation, Person or entity whether or not affiliated with such Guarantor unless: 

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      either

          (i)  

        (A)  the
Person acquiring the property in any such sale or disposition or the Person formed by or surviving any such consolidation or merger, if other than such Guarantor,
assumes all the obligations of that Guarantor under the Indenture, its Guarantee and, if the Exchange Offer has not been consummated or Special Interest remains due and owing, under the Registration
Rights Agreement pursuant to a supplemental indenture in form and substance reasonably satisfactory to the Trustee and completes all other required documentation; or 

        (B)  the
Net Proceeds, if any, of such sale or other disposition are applied in accordance with the provisions of described in the third paragraph of Section 4.10 of
this Indenture; and 

        (ii)  immediately
after giving effect to such transaction, no Default exists. 

        (b)  In
case of any such consolidation, merger, sale or conveyance and upon the assumption by the successor corporation, by supplemental indenture, executed and delivered to
the Trustee and satisfactory in form to the Trustee, of the Subsidiary Guarantee endorsed upon the Notes and the due and punctual performance of all of the covenants and conditions of the Indenture to
be performed by the Guarantor, such successor corporation shall succeed to and be substituted for the Guarantor with the same effect as if it had been named herein as a Guarantor. Such successor
corporation thereupon may cause to be signed any or all of the Subsidiary Guarantees to be endorsed upon all of the Notes issuable hereunder which theretofore shall not have been signed by the Company
and delivered to the Trustee. All the Subsidiary Guarantees so issued shall in all respects have the same legal rank and benefit under the Indenture as the Subsidiary Guarantees theretofore and
thereafter issued in
accordance with the terms of the Indenture as though all of such Subsidiary Guarantees had been issued at the date of the execution hereof. 

        (c)  Except
as set forth in Articles 4 and 5 and Section 11.05 of Article 11 of the Indenture, and notwithstanding clauses (a) and (b) above,
nothing contained in the Indenture or in any of the Notes shall prevent any consolidation or merger of a Guarantor with or into the Company or another Guarantor, or shall prevent any sale or
conveyance of the property of a Guarantor as an entirety or substantially as an entirety to the Company or another Guarantor. 

        5.    RELEASES. 

        (a)  In
the event of a sale or other disposition of all of the assets of any Guarantor, by way of merger, consolidation or otherwise, or a sale or other disposition of all to
the capital stock of any Guarantor, in each case to a Person that is not (either before or after giving effect to such transaction) a Restricted Subsidiary of the Company, then such Guarantor (in the
event of a sale or other disposition, by way of merger, consolidation or otherwise, of all of the capital stock of such Guarantor) or the corporation acquiring the property (in the event of a sale or
other disposition of all or substantially all of the assets of such Guarantor) will be released and relieved of any obligations under its Subsidiary Guarantee; provided that the Net Proceeds, if any,
of such sale or other disposition are applied in accordance with the applicable provisions of the Indenture, including without limitation Section 4.10 of the Indenture. Upon delivery by the
Company to the Trustee of an Officers' Certificate and an Opinion of Counsel to the effect that such sale or other disposition was made by the Company in accordance with the provisions of the
Indenture, including without limitation Section 4.10 of the Indenture, the Trustee shall execute any documents reasonably required in order to evidence the release of any Guarantor from its
obligations under its Note Guarantee. 

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        (b)  Any
Guarantor not released from its obligations under its Subsidiary Guarantee shall remain liable for the full amount of principal of and interest on the Notes and for
the other obligations of any Guarantor under the Indenture as provided in Article 11 of the Indenture. 

        6.    NO
RECOURSE AGAINST OTHERS.    No past, present or future director, officer, employee, incorporator, stockholder or agent of any Guaranteeing Subsidiary, as
such, shall have any liability for any obligations of the Company or any Guaranteeing Subsidiary under the Notes, any Subsidiary Guarantees, the Indenture or this Supplemental Indenture or for any
claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part
of the consideration for issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against
public policy. 

        7.    AMENDMENT.    The
first sentence of definition of "Indebtedness" set forth in Section 1.01 of the Indenture is hereby amended by inserting the words "or
Attributable Debt in respect of sale and leaseback transactions" at the end of clause (iv) thereof and inserting the words ", Attributable Debt" immediately following the words "(other than
letters of credit" and immediately preceding the words "and Hedging Obligations)" set forth after clause (vi) thereof. 

        8.    INDENTURE.    Except
as expressly amended hereby, the Indenture shall continue in full force and effect in accordance with the provisions thereof as in
existence on the date hereof. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered
shall be bound hereby. 

        9.    NEW
YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE BUT WITHOUT GIVING EFFECT TO APPLICABLE
PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

        10.    COUNTERPARTS.    The
parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together
represent the same agreement. 

        11.    EFFECT
OF HEADINGS.    The Section headings herein are for convenience only and shall not affect the construction hereof. 

        12.    THE
TRUSTEE.    The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture
or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guarantors and the Company. 

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        IN
WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the date first above written. 

 
 

SIGNATURES    
  

Dated
as of March 19, 2003 

	 	 	ASBURY AUTOMOTIVE GROUP, INC.
	

 	
 	
By:	

/s/  THOMAS F. GILMAN      
	 	 	 	
 Name:  Thomas F. Gilman

Title:    Senior Vice President & CFO
	

 	
 	
EACH GUARANTOR LISTED ON SCHEDULE I

    HERETO
	

 	
 	
By:	

/s/  THOMAS F. GILMAN      
	 	 	 	
 Name:  Thomas F. Gilman

Title:    Vice President
	

 	
 	
EACH GUARANTEEING SUBSIDIARY LISTED ON

    SCHEDULE II HERETO
	

 	
 	
By:	

/s/  THOMAS F. GILMAN      
	 	 	 	
 Name:  Thomas F. Gilman

Title:    Vice President
	

 	
 	
THE BANK OF NEW YORK
	

 	
 	
By:	

/s/  GEONVANNI BARRIS      
	 	 	 	
 Name:  Geovanni Barris

Title:    Vice President

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Schedule I    
  

 
 

SCHEDULE OF GUARANTORS    
  

        The following schedule lists each Guarantor under the Indenture as of the Issue Date: 

Asbury
Automotive Group Holdings, Inc.

Asbury Automotive Group L.L.C.

Asbury Automotive Management L.L.C.

Asbury Automotive Financial Services, Inc.

Asbury Automotive Used Car Centers L.L.C.

Asbury Automotive Used Car Centers Texas GP L.L.C.

Asbury Automotive Used Car Centers Texas L.P.

Asbury Automotive Arkansas L.L.C.

Asbury Automotive Arkansas Dealership Holdings L.L.C.

NP FLM L.L.C.

NP VKW L.L.C.

Prestige TOY L.L.C.

Premier NSN L.L.C.

Premier LM L.L.C.

Hope FLM L.L.C.

NP MZD L.L.C.

Prestige Bay L.L.C.

Premier Pon L.L.C.

Hope CPD L.L.C.

TXK L.L.C.

TXK FRD, L.P.

TXK CPD, L.P.

Escude-NN L.L.C.

Escude-T L.L.C.

Escude-M L.L.C.

Escude-NS L.L.C.

Escude-D L.L.C.

Escude-MO L.L.C.

Asbury MS Metro L.L.C.

Asbury MS Gray-Daniels L.L.C.

Asbury Automotive Atlanta L.L.C.

Asbury Atlanta Hon L.L.C.

Asbury Atlanta Chevrolet L.L.C.

Asbury Atlanta Lex L.L.C.

Asbury Atlanta AC L.L.C.

Atlanta Real Estate Holdings L.L.C.

Asbury Atlanta Jaguar L.L.C.

Spectrum Insurance Services L.L.C.

Asbury Atlanta AU L.L.C.

Asbury Atlanta Infiniti L.L.C.

Asbury Automotive Jacksonville GP L.L.C.

Asbury Automotive Jacksonville, L.P.

Asbury Jax Holdings, L.P.

Asbury Jax Management L.L.C.

Coggin Automotive Corp.

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CP-GMC Motors, Ltd.

CH Motors, Ltd.

CN Motors, Ltd.

CFP Motors, Ltd.

Avenues Motors, Ltd.

CHO Partnership, Ltd.

ANL, L.P.

Bayway Financial Services, L.P.

Coggin Management, L.P.

C&O Properties, Ltd.

Asbury Automotive Central Florida, L.L.C.

CK Chevrolet L.L.C.

CK Motors L.L.C.

Asbury Automotive Deland, L.L.C.

AF Motors, L.L.C.

ALM Motors, L.L.C.

Asbury Deland Imports 2, L.L.C.

Asbury-Deland Imports, L.L.C.

Coggin Cars L.L.C.

Coggin Chevrolet L.L.C.

CSA Imports L.L.C.

Coggin Orlando Properties LLC

KP Motors L.L.C.

HFP Motors L.L.C.

Asbury Automotive Mississippi L.L.C.

Asbury MS Wimber L.L.C.

Crown GPG L.L.C.

Crown GBM L.L.C.

Crown GAU L.L.C.

Crown GKI L.L.C.

Crown GMI L.L.C.

Crown GDO L.L.C.

Crown GNI L.L.C.

Crown GHO L.L.C.

Crown GAC L.L.C.

Crown CHH L.L.C.

Crown CHV L.L.C.

Crown RIS L.L.C.

Crown RIA L.L.C.

Crown RIB L.L.C.

Crown Motorcar Company L.L.C.

Crown GVO L.L.C.

Crown FFO L.L.C.

Asbury Automotive North Carolina L.L.C.

Asbury Automotive North Carolina Management L.L.C.

Asbury Automotive North Carolina Real Estate Holdings L.L.C.

Asbury Automotive North Carolina Dealership Holdings L.L.C.

Crown Raleigh L.L.C.

Crown Fordham L.L.C.

Camco Finance L.L.C.

Camco Finance II L.L.C.

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Crown FFO Holdings L.L.C.

Crown RPG L.L.C.

Crown FDO L.L.C.

Crown Acura/Nissan, LLC

Crown Battleground L.L.C.

Crown Dodge, LLC

Crown Honda, LLC

Crown Honda-Volvo, LLC

Crown Mitsubishi, LLC

Crown Royal Pontiac, LLC

RER Properties, LLC

RWIJ Properties, LLC

Thomason Frd L.L.C.

Thomason Hon L.L.C.

Thomason Niss L.L.C.

Thomason Hund L.L.C.

Thomason Maz L.L.C.

Thomason Zuk L.L.C.

Thomason Ty L.L.C.

Thomason Sub L.L.C.

Thomason Dam L.L.C.

Damerow Ford Co.

Asbury Automotive Oregon L.L.C.

Asbury Automotive Oregon Management L.L.C.

Thomason Auto Credit Northwest, Inc.

Thomason on Canyon, L.L.C.

Thomason Outfitters L.L.C.

Thomason Suzu L.L.C.

Asbury Automotive St. Louis, L.L.C.

Asbury St. Louis Lex L.L.C.

Asbury St. Louis Cadillac L.L.C.

Asbury St. Louis Gen L.L.C.

Asbury Automotive Tampa GP L.L.C.

Asbury Automotive Tampa, L.P.

Asbury Tampa Management L.L.C.

Tampa LM, L.P.

Tampa Hund, L.P.

Tampa Kia, L.P.

Tampa Mit, L.P.

Tampa Suzu, L.P.

WMZ Motors, L.P.

WMZ Brandon Motors, L.P.

WTY Motors, L.P.

Asbury Automotive Brandon, L.P.

Precision Enterprises Tampa, Inc.

Precision Nissan, Inc.

Precision Computer Services, Inc.

Precision Motorcars, Inc.

Precision Infiniti, Inc.

Dealer Profit Systems L.L.C.

McDavid Plano-Acra, L.P.

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McDavid Houston-Kia, L.P.

McDavid Austin-Acra, L.P.

McDavid Irving-Hon, L.P.

McDavid Irving-PB&G, L.P.

McDavid Houston-Niss, L.P.

Plano Lincoln-Mercury, Inc.

McDavid Irving-Zuk, L.P.

McDavid Houston-Hon, L.P.

McDavid Houston-Olds, L.P.

Asbury Texas Management L.L.C.

McDavid Grande, L.P.

McDavid Outfitters, L.P.

McDavid Auction, L.P.

Asbury Automotive Texas L.L.C.

Asbury Automotive Texas Holdings L.L.C.

Asbury Automotive Texas Real Estate Holdings L.P. (formerly McDavid Communications, L.P.)

McDavid Frisco-Hon, L.P. 

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Schedule II    
  

 
 

SCHEDULE OF GUARANTEEING SUBSIDIARIES    
  

        The following schedule lists each Guaranteeing Subsidiary becoming a Guarantor under the Indenture pursuant to the Supplemental Indenture to which this
Schedule II is attached: 

Asbury
Automotive San Diego L.L.C.

Crown GCA L.L.C.

Crown GCH L.L.C.

Crown CHO L.L.C.

Thomason Pontiac-GMC L.L.C.

Asbury Automotive Fresno L.L.C.

Asbury Fresno Imports L.L.C. 

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Exhibit 4.3

W I T N E S S E T H

SIGNATURES

Schedule I

SCHEDULE OF GUARANTORS

Schedule II

SCHEDULE OF GUARANTEEING SUBSIDIARIESQuickLinks
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EXHIBIT 10.3    
  

 
 

FORM OF INDEMNIFICATION AGREEMENT    
  

        This Indemnification Agreement, dated as
of                            ,            (this
"Agreement"), is
made by and between ASBURY AUTOMOTIVE GROUP, INC., a Delaware corporation (the "Company"),
and                        
("Indemnitee"). 

RECITALS: 

        Indemnitee
is a director and/or officer of the Company and his/her willingness to serve in such capacity is predicated, in substantial part, upon the Company's willingness to indemnify
him/her to the fullest extent permitted by the laws of the state of Delaware, and upon the other undertakings set forth in this Agreement. 

        Therefore,
in recognition of the need to provide Indemnitee with substantial protection against personal liability, in order to procure Indemnitee's continued service as a director
and/or officer of the Company and to enhance Indemnitee's ability to serve the Company in an effective manner, and in order to provide such protection pursuant to express contract rights (intended to
be enforceable irrespective of, among other things, any amendment to the Company's certificate of incorporation or bylaws (collectively, the "Constituent
Documents"), any change in the composition of the Company's Board of Directors (the "Board") or any
change-in-control or business combination transaction relating to the Company), the Company wishes to provide in this Agreement for the indemnification of and the advancement
of Expenses (as defined in Section 1(c)) to Indemnitee as set forth in this Agreement and for the continued coverage of Indemnitee under the Company's directors' and officers' liability
insurance policies. 

        In
light of the considerations referred to in the preceding recitals, it is the Company's intention and desire that the provisions of this Agreement be construed liberally, subject to
their express terms, to maximize the protections to be provided to Indemnitee hereunder. 

AGREEMENT:  

        NOW, THEREFORE, the parties hereby agree as follows: 

        1.    Certain Definitions.    In addition to terms defined elsewhere herein, the following terms have the following
meanings when used in this Agreement with initial capital letters: 

        (a)    "Claim" means (i) any threatened, asserted, pending or completed
claim, demand, action, suit or proceeding, whether civil, criminal, administrative, arbitrative, investigative or other, and whether made pursuant to federal, state or other law; and (ii) any
inquiry or investigation, whether made, instituted or conducted by the Company or any other party, including without limitation any federal, state or other governmental entity, that Indemnitee
reasonably determines might lead to the institution of any such claim, demand, action, suit or proceeding. 

        (b)    "Disinterested Director" means a director of the Company who is not and was not a party to the Claim in respect of which
indemnification is sought by Indemnitee. 

        (c)    "Expenses" means reasonable attorneys' and experts' fees and expenses and
all other reasonable costs and expenses paid or payable in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to investigate, defend,
be a witness in or participate in (including on appeal), any Claim, including such costs or expenses paid or payable in connection with a Standard of Conduct Determination. 

        (d)    "Incumbent Directors" means the individuals who, as of the date hereof, are Directors of the Company and any individual
becoming a Director subsequent to the date hereof whose election, nomination for election by the Company's stockholders, or appointment, was approved by a vote of at least two-thirds of
the then Incumbent Directors (either by a specific vote or by 

 

approval of the proxy statement of the Company in which such person is named as a nominee for director, without objection to such nomination);  provided, however, that an individual shall not be an Incumbent Director if such individual's election
or appointment to the Board occurs as a result of an actual or threatened election contest (as described in Rule 14a-12(c) of the Exchange Act) with respect to the election or
removal of Directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board. 

        (e)    "Indemnifiable Claim" means any Claim based upon, arising out of or
resulting from (i) any actual, alleged or suspected act or failure to act by Indemnitee in his or her capacity as a director or officer of the Company or as a director, officer, member, manager
or trustee of any other corporation, limited liability company, partnership, joint venture, trust or other entity or enterprise, whether or not for profit, as to which Indemnitee is or was serving at
the request of the Company as a director, officer, member, manager or trustee, or (ii) Indemnitee's status as a current or former director or officer of the Company or as a current or former
director, officer, member, manager or trustee of the Company or any other entity or enterprise referred to in clause (i) of this sentence or any actual, alleged or suspected act or failure to
act by Indemnitee in connection with any obligation or restriction imposed upon Indemnitee by reason of such status. In addition to any service at the actual request of the Company, for purposes of
this Agreement, Indemnitee shall be deemed to be serving or to have served at the request of the Company as a director, officer, member, manager or trustee of another entity or enterprise if
Indemnitee is or was serving as a director, officer, member, manager or trustee of such entity or enterprise and the Company directly or indirectly caused Indemnitee to be nominated, elected,
appointed, designated or selected to serve in such capacity. 

        (f)    "Indemnifiable Losses" means any and all Losses relating to, arising out of or resulting from any
Indemnifiable Claim. 

        (g)    "Independent Counsel" means a law firm, or a member of a law firm, that is experienced in matters of Delaware corporation
law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to
matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Indemnifiable Claim giving rise to a
claim for indemnification hereunder. Notwithstanding the foregoing, the term "Independent Counsel" shall not include any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's rights under this Agreement. 

        (h)    "Losses" means any and all Expenses, damages, losses, liabilities, judgments, fines, penalties
(whether civil, criminal or other) and amounts paid in settlement, including without limitation all interest, assessments and other charges paid or payable in connection with or in respect of any of
the foregoing. 

        (i)    "Notification Date" means the date of receipt by the Company of written notice from Indemnitee advising the Company of
the final disposition of the applicable Indemnifiable Claim. 

        2.    Indemnification Obligation.    Subject to Section 7, the Company shall indemnify, defend and hold
harmless Indemnitee, to the fullest extent permitted by the laws of the State of Delaware as such laws may from time to time hereafter be amended against any and all Indemnifiable Claims and
Indemnifiable Losses; provided, however, that, (a) except as provided in Section 5,
Indemnitee shall not be entitled to indemnification pursuant to this Agreement in connection with any Claim initiated by
Indemnitee against the Company or any director or officer of the Company unless the Company has joined in or consented to the initiation of such Claim and (b) no repeal or amendment of any law
of 

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the State of Delaware shall in any way diminish or adversely affect the rights of Indemnitee pursuant to this Agreement in respect of any occurrence or matter arising prior to any such repeal or
amendment. 

        3.    Advancement of Expenses.    Indemnitee shall have the right to advancement by the Company prior to the final
disposition of any Indemnifiable Claim of any and all Expenses relating to, arising out of or resulting from any Indemnifiable Claim paid or incurred by Indemnitee or which Indemnitee determines are
reasonably likely to be paid or incurred by Indemnitee; provided that Indemnitee shall not be entitled to request the advancement of Expenses more than
60 days in advance of the date on which Indemnitee reasonably determines such Expenses are likely to be paid. Indemnitee's right to such advancement is not subject to the satisfaction of any
standard of conduct. Indemnitee shall submit to the Company a written request specifying the Expenses for which Indemnitee seeks an advancement under this Section 3, together with documentation
reasonably evidencing that Indemnitee has incurred such Expenses or, if such Expenses have not yet been incurred, a reasonably detailed estimate of such Expenses and an undertaking to provide such
documentation once the estimated Expenses have been incurred. Within twenty days after any such request properly made by Indemnitee, the Company shall, in accordance with such request (but without
duplication), (a) pay such Expenses on behalf of Indemnitee, (b) advance to Indemnitee funds in an amount sufficient to pay such Expenses, or (c) reimburse Indemnitee for such
Expenses; provided that Indemnitee shall repay, without interest, any amounts actually advanced to Indemnitee that are in excess of amounts paid or
payable by Indemnitee in respect of Expenses relating to, arising out of or resulting from such Indemnifiable Claim. In connection with any such payment, advancement or reimbursement, Indemnitee shall
execute and deliver to the Company an undertaking, which need not be secured and shall be accepted without reference to Indemnitee's ability to repay the Expenses, by or on behalf of the Indemnitee,
to repay, without interest, any amounts paid, advanced or reimbursed by the Company in respect of Expenses relating to, arising out of or resulting from any Indemnifiable Claim in respect of which it
shall have been determined, following the final disposition of such Indemnifiable Claim, that Indemnitee is not entitled to indemnification hereunder. 

        4.    Indemnification for Additional Expenses.    Without limiting the generality or effect of the foregoing, the
Company shall indemnify and hold harmless Indemnitee against and, if requested by Indemnitee, shall reimburse Indemnitee for, or advance to Indemnitee, within twenty days of such request, any and all
Expenses paid or incurred by Indemnitee (or which Indemnitee determines are reasonably likely to be paid or incurred by Indemnitee; provided that Indemnitee shall not be entitled to request the
advancement of Expenses more than 60 days in advance of the date on which Indemnitee reasonably determines such Expenses are likely to be paid) in connection with any Claim made, instituted or
conducted by Indemnitee for (a) indemnification or reimbursement or advance payment of Expenses by the Company under any provision of this Agreement (including a Standard of Conduct
Determination), or under any other agreement or provision of the Constituent Documents now or hereafter in effect relating to Indemnifiable Claims, and/or (b) recovery under any directors' and
officers' liability insurance policies maintained by the Company; provided that, if Indemnitee ultimately is determined not to be entitled to such
indemnification, reimbursement, advance payment of expenses or insurance recovery and Indemnitee did not make, institute or conduct such Claim in good faith and with a reasonable belief that such
Claim was not frivolous, Indemnitee shall, and Indemnitee hereby undertakes to,
reimburse the Company, with interest, for all such amounts received by Indemnitee promptly after receipt of a written demand therefor from the Company. 

        5.    Partial Indemnity.    If Indemnitee is entitled under any provision of this Agreement to indemnification by the
Company for some or a portion of any Indemnifiable Loss but not for all of the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is
entitled. 

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        6.    Procedure for Notification.    

        (a)    Not
later than fifteen (15) days after receipt by Indemnitee of notice of the commencement of any Claim, Indemnitee will, if a claim in respect thereof is to be
made against the Company under this Agreement, notify the Company of the commencement thereof; but the omission so to notify the Company will not relieve it from any liability under this Agreement
except to the extent, if any, that such omission actually prejudices the use by the Company of defenses, rights or insurance coverage. 

        (b)    To
obtain indemnification under this Agreement in respect of an Indemnifiable Claim or Indemnifiable Loss, Indemnitee shall submit to the Company a written request
therefor including a reasonable description (based upon information then available to Indemnitee) of such Indemnifiable Claim or Indemnifiable Loss and the basis for the assertion of a claim under
this Agreement. If, at the time of the receipt of such request, the Company has directors' and officers' liability insurance in effect under which coverage for such Indemnifiable Claim or
Indemnifiable Loss is potentially available, the Company shall give prompt written notice of such Indemnifiable Claim or Indemnifiable Loss to the applicable insurers in accordance with the procedures
set forth in the applicable policies. The Company shall provide to Indemnitee a copy of such notice delivered to the applicable insurers, and copies of all subsequent correspondence between the
Company and such insurers regarding the Indemnifiable Claim or Indemnifiable Loss, in each case substantially concurrently with the delivery or receipt thereof by the Company. The failure by
Indemnitee to timely notify the Company of any Indemnifiable Claim or Indemnifiable Loss shall not relieve the Company from any liability hereunder unless, and only to the extent that, such failure
actually prejudices the use by the Company of defenses, rights or insurance coverage. 

        7.    Determination of Right to Indemnification.    

        (a)    To
the extent that Indemnitee shall have been successful on the merits or otherwise in defense of any Indemnifiable Claim, or in defense of any issue or matter therein,
Indemnitee shall be indemnified against all Indemnifiable Losses relating to, arising out of or resulting from such Indemnifiable Claim or issue or matter in accordance with Section 2 and no
Standard of Conduct Determination (as defined in Section 7(b)) shall be required. 

        (b)    To
the extent that the provisions of Section 7(a) are inapplicable to an Indemnifiable Claim that shall have been finally disposed of, any determination of
whether Indemnitee has satisfied any applicable standard of conduct under Delaware law that is a legally required condition precedent to indemnification of Indemnitee hereunder against Indemnifiable
Losses relating to, arising out of or resulting from such Indemnifiable Claim (a "Standard of Conduct Determination") shall be made as follows:
(i) by a majority vote of the Disinterested Directors, even if less than a quorum of the Board, (ii) if such Disinterested Directors so direct, by a majority vote of a committee of
Disinterested Directors designated by a majority vote of all Disinterested Directors, or (iii) if there are no such Disinterested Directors or if requested by Indemnitee, by Independent Counsel
in a written opinion addressed to the Board, a copy of which shall be delivered to Indemnitee. Indemnitee will cooperate with the person or persons making such Standard of Conduct Determination,
including providing to such person or persons, upon reasonable advance request, any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably
available to Indemnitee and reasonably necessary to such determination. 

        (c)    The
Company shall use its reasonable best efforts to cause any Standard of Conduct Determination required under Section 7(b) to be made as promptly as practicable
and in no event later than 45 days after the Notification Date; provided that such 45 day period may be extended for a reasonable time not to exceed an additional 30 days if the
person or persons making such determination in good faith requires such additional time for the obtaining or evaluation or documentation and/or information relating thereto If any such Standard of
Conduct Determination is not made within such 45 (or 75) day period, Indemnitee shall be permitted to petition the Delaware Court of Chancery to make such determination. 

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        (d)    If
(i) Indemnitee shall be entitled to indemnification hereunder against any Indemnifiable Losses pursuant to Section 7(a), (ii) no determination of
whether Indemnitee has satisfied any applicable standard of conduct under Delaware law is a legally required condition precedent to indemnification of Indemnitee hereunder against any Indemnifiable
Losses, or (iii) Indemnitee has been determined or deemed pursuant to Section 7(b) to have satisfied any applicable standard of conduct under Delaware law which is a legally required
condition precedent to indemnification of Indemnitee hereunder against any Indemnifiable Losses, then the Company shall pay to Indemnitee within twenty days after the earliest date on which the
applicable criterion specified in clause (i), (ii) or (iii) above shall have been satisfied an amount equal to the amount of such Indemnifiable Losses. 

        (e)    If
a Standard of Conduct Determination is to be made by Independent Counsel pursuant to Section 7(b), the Independent Counsel shall be selected by the Board of
Directors, and the Company shall give written notice to Indemnitee advising him or her of the identity of the Independent Counsel so selected. Indemnitee may, within five business days after receiving
written notice of selection from the Company, deliver to the Company a written objection to such selection; provided,  however, that such objection may be
asserted only on the ground that the Independent Counsel so selected does not satisfy the criteria set forth in the
definition of "Independent Counsel" in Section 1(g), and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and
timely objection, the person or firm so selected shall act as Independent Counsel. If such written objection is properly and timely made and substantiated, the Independent Counsel so selected may not
serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit. If no Independent Counsel that is permitted under the
foregoing provisions of this Section 7(e) to make the Standard of Conduct Determination shall have been selected within 30 days after the Company gives its initial notice pursuant to the
first sentence of this Section 7(e) either the Company or Indemnitee may petition the Court of Chancery of the State of Delaware for resolution of any objection which shall have been made by
the Indemnitee to the Company's selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the Court or by such other person as the Court shall
designate, and the person or firm with respect to whom all objections are so resolved or the person or firm so appointed will act as Independent Counsel. In all events, the Company shall pay all of
the reasonable fees and expenses of the Independent Counsel incurred in connection with the Independent Counsel's determination pursuant to Section 7(b). 

        8.    Presumption of Entitlement.    In making any Standard of Conduct Determination, the person or persons making
such determination shall presume that Indemnitee has satisfied the applicable standard of conduct, and the Company may overcome such presumption only by its adducing clear and convincing evidence to
the contrary. Any Standard of Conduct Determination that is adverse to Indemnitee may be challenged by the Indemnitee in the Court of Chancery of the State of Delaware. No determination by the Company
(including by its directors or any Independent Counsel) that Indemnitee has not satisfied any applicable standard of conduct shall be a defense to any Claim by Indemnitee for indemnification or
reimbursement or advance payment of Expenses by the Company hereunder or create a presumption that Indemnitee has not met any applicable standard of conduct. 

        9.    No Other Presumption.    For purposes of this Agreement, the termination of any Claim by judgment, order,
settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, will not create a presumption
that Indemnitee did not meet any applicable standard of conduct or that indemnification hereunder is otherwise not permitted. 

        10.    Non-Exclusivity.    The rights of Indemnitee hereunder will be in addition to, and not in
limitation of, any other rights Indemnitee may have under the Constituent Documents, or the substantive laws of the State of Delaware, any other contract or otherwise (collectively,
"Other Indemnity Provisions"). The Company will not adopt any amendment to any of the Constituent 

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Documents the effect of which would be to deny, diminish or encumber Indemnitee's right to indemnification under this Agreement. 

        11.    Liability Insurance and Funding.    For the duration of Indemnitee's service as a director and/or officer of
the Company, and thereafter for so long as Indemnitee shall be subject to any pending or possible Indemnifiable Claim, the Company shall use commercially reasonable efforts (taking into account the
scope and amount of coverage available relative to the cost thereof) to cause to be maintained in effect policies of directors' and officers' liability insurance providing coverage for Indemnitee of
the Company that is at least substantially comparable in scope and amount to that provided by the Company's
current policies of directors' and officers' liability insurance. Upon request, the Company shall provide Indemnitee with a copy of all directors' and officers' liability insurance applications,
binders, policies, declarations, endorsements and other related materials, and shall provide Indemnitee with a reasonable opportunity to review and comment on the same. Without limiting the generality
or effect of the two immediately preceding sentences, the Company shall not discontinue or significantly reduce the scope or amount of coverage from one policy period to the next policy period
(i) without the prior approval thereof by a majority vote of the Incumbent Directors, even if less than a quorum, or (ii) if at the time that any such discontinuation or significant
reduction in the scope or amount of coverage is proposed there are no Incumbent Directors, without the prior written consent of Indemnitee (which consent shall not be unreasonably withheld or
delayed). In all policies of directors' and officers' liability insurance obtained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and
benefits, subject to the same limitations, as are accorded to the Company's directors and officers most favorably insured by such policy. The Company may, but shall not be required to, create a trust
fund, grant a security interest or use other means, including without limitation a letter of credit, to ensure the payment of such amounts as may be necessary to satisfy its obligations to indemnify
and advance expenses pursuant to this Agreement. 

        12.    Subrogation.    In the event of payment under this Agreement, the Company shall be subrogated to the extent of
such payment to all of the related rights of recovery of Indemnitee against other persons or entities (other than Indemnitee's successors), including any entity or enterprise referred to in
clause (i) of the definition of "Indemnifiable Claim" in Section 1. Indemnitee shall take, at the request of the Company, all actions reasonably necessary to secure such rights,
including the execution of all papers reasonably required to evidence such rights (all of Indemnitee's reasonable Expenses, including attorneys' fees and charges, related thereto to be reimbursed by
the Company). 

        13.    No Duplication of Payments.    The Company shall not be liable under this Agreement to make any payment to
Indemnitee in respect of any Indemnifiable Losses to the extent Indemnitee has otherwise actually received payment (net of Expenses incurred in connection therewith) under any insurance policy, the
Constituent Documents and Other Indemnity Provisions or otherwise (including from any entity or enterprise referred to in clause (i) of the definition of "Indemnifiable Claim" in
Section 1(e)) in respect of such Indemnifiable Losses otherwise indemnifiable hereunder. 

        14.    Defense of Claims.    The Company shall be entitled to participate in the defense of any Indemnifiable Claim or
to assume the defense thereof, with counsel reasonably satisfactory to the Indemnitee; provided that if Indemnitee reasonably believes, after
consultation with counsel selected by Indemnitee, that (a) the use of counsel chosen by the Company to represent Indemnitee would present such counsel with an actual or potential conflict,
(b) the named parties in any such Indemnifiable Claim (including any impleaded parties) include both the Company and Indemnitee and Indemnitee shall conclude that there may be one or more legal
defenses available to him or her that are different from or in addition to those available to the Company, or (c) any such representation by such counsel would be precluded under the applicable
standards of professional conduct then prevailing, then Indemnitee shall be entitled to retain separate counsel (but not more than one law firm plus, if applicable, local counsel in respect of any
particular Indemnifiable Claim) at the Company's expense. The Company shall not be liable to Indemnitee under this Agreement for any amounts paid in 

6

 

settlement of any threatened or pending Indemnifiable Claim effected without the Company's prior written consent. The Company shall not, without the prior written consent of the Indemnitee, effect
any settlement of any threatened or pending Indemnifiable Claim which the Indemnitee is or could have been a party unless such settlement solely involves the payment of money and includes a complete
and unconditional release of the Indemnitee from all liability on any claims that are the subject matter of such Indemnifiable Claim. Neither the Company nor Indemnitee shall unreasonably withhold its
consent to any proposed settlement. 

        15.    Successors and Binding Agreement.    (a) The Company shall require any successor (whether direct or
indirect, by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all of the business or assets of the Company to assume and agree to and perform this Agreement in the
same manner and to the same extent the Company would be required to perform if no such succession had taken place. This Agreement shall be binding upon and inure to the benefit of the Company and any
successor to the Company, including without limitation any person acquiring directly or indirectly all or substantially all of the business or assets of the Company whether by purchase, merger,
consolidation, reorganization or otherwise (and such successor will thereafter be deemed the "Company" for purposes of this Agreement), but shall not
otherwise be assignable or delegatable by the Company. 

        (b)    This
Agreement shall be binding on and inure to the benefit of and be enforceable by the Indemnitee's personal or legal representatives, executors, administrators,
heirs, distributees, legatees and other successors. 

        (c)    This
Agreement is personal in nature and neither of the parties hereto shall, without the written consent of the other, assign or delegate this Agreement or any rights
or obligations hereunder except as expressly provided in Sections 15(a) and 15(b). Without limiting the generality or effect of the foregoing, Indemnitee's right to receive payments hereunder shall
not be assignable, whether by pledge, creation of a security interest or otherwise, other than by a transfer by the Indemnitee's will or by the laws of descent and distribution, and, in the event of
any attempted assignment or transfer contrary to this Section 15(c), the Company shall have no liability to pay any amount so attempted to be assigned or transferred. 

        16.    Notices.    For all purposes of this Agreement, all communications, including without limitation notices,
consents, requests or approvals, required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given when hand delivered or dispatched by electronic facsimile
transmission (with receipt thereof orally confirmed), or five business days after having been mailed by United States registered or certified mail, return receipt requested, postage prepaid or one
business day after having been sent for next-day delivery by a nationally recognized overnight courier service, addressed to the Company (to the attention of the General Counsel of the
Company) and to Indemnitee at the addresses shown on the signature page hereto, or to such other address as any party may have furnished to the other in writing and in accordance herewith, except that
notices of changes of address will be effective only upon receipt. 

        17.    Governing Law.    This Agreement shall be governed by and construed in accordance with the laws of the State of
Delaware, without giving effect to the principles of conflict of laws of such State. The
Company and Indemnitee each hereby irrevocably and unconditionally consent to the jurisdiction of the Chancery Court of the State of Delaware for all purposes in connection with any action or
proceeding which arises out of or relates to this Agreement and agree that any action instituted under this Agreement shall be brought only in the Chancery Court of the State of Delaware. 

        18.    Validity.    If any provision of this Agreement or the application of any provision hereof to any person or
circumstance is held invalid, unenforceable or otherwise illegal, the remainder of this Agreement and the application of such provision to any other person or circumstance shall not be affected, and
the provision so held to be invalid, unenforceable or otherwise illegal shall be reformed to 

7

 

the extent, and only to the extent, necessary to make it enforceable, valid or legal. In the event that any court or other adjudicative body shall decline to reform any provision of this Agreement
held to be invalid, unenforceable or otherwise illegal as contemplated by the immediately preceding sentence, the parties thereto shall take all such action as may be necessary or appropriate to
replace the provision so held to be invalid, unenforceable or otherwise illegal with one or more alternative provisions that effectuate the purpose and intent of the original provisions of this
Agreement as fully as possible without being invalid, unenforceable or otherwise illegal. 

        19.    Miscellaneous.    No provision of this Agreement may be waived, modified or discharged unless such waiver,
modification or discharge is agreed to in writing signed by Indemnitee and the Company. No waiver by either party hereto at any time of any breach by the other party hereto or compliance with any
condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.
No agreements or representations, oral or otherwise, expressed or implied with respect to the subject matter hereof have been made by either party that are not set forth expressly in this Agreement.
References to Sections are to references to Sections of this Agreement. 

        20.    Certain Interpretive Matters.    No provision of this Agreement shall be interpreted in favor of, or against,
either of the parties hereto by reason of the extent to which any such party or its counsel participated in the drafting thereof or by reason of the extent to which any such provision is inconsistent
with any prior draft hereof or thereof. 

        21.    Counterparts.    This Agreement may be executed in one or more counterparts, each of which will be deemed to be
an original but all of which together shall constitute one and the same agreement. 

        [Signatures Appear On Following Page]

        IN
WITNESS WHEREOF, Indemnitee has executed and the Company has caused its duly authorized representative to execute this Agreement as of the date first above written. 

	 	 	ASBURY AUTOMOTIVE GROUP, INC.

3 Landmark Square, Suite 500

Stamford, Connecticut 06902
	 	 	 	 	 
	 	 	By:	 	
 Name:

Title:
	 	 	 	 	 
	 	 	[INDEMNITEE]

[Address]
	 	 	 	 	 
	 	 	
 [Indemnitee]

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QuickLinks

EXHIBIT 10.3

FORM OF INDEMNIFICATION AGREEMENT

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