Document:

EX-10.29

 Exhibit 10.29 

EMPLOYMENT AGREEMENT 
 This Employment
Agreement (“Agreement”) is made and entered into effective as of April 1, 2014 (the “Effective Date”), by and between American Tire Distributors, Inc., a Delaware corporation (the “Company”), and William P.
Trimarco (“Executive”). 
 The Company hereby agrees to employ Executive, and Executive hereby accepts such employment, on the
terms and conditions hereinafter set forth. 
 1. Position. During the Period of Employment (as defined below), Executive shall serve
in the capacity indicated on Exhibit A, or in such other executive level position as may be determined by the Company. Executive shall perform the normal duties and responsibilities of such position and such other duties and responsibilities
as the Board of Directors of the Company (the “Board”) or the Chief Executive Officer of the Company may assign to Executive from time to time. During the Period of Employment, Executive will: (a) devote his full business time and
attention to, and use his best efforts to advance, the business and welfare of the Company, and (b) not engage in any other employment activities for himself or any other business entity without the prior authorization and concurrence of the
Board. 
 2. Period of Employment. This Agreement, and the period of Executive’s employment by the Company (the “Period of
Employment”), shall commence on the Effective Date and shall continue until terminated pursuant to Section 6 hereof. 
 3.
Compensation. 
 3.1 Base Salary. During the Period of Employment, the Company shall pay Executive a per annum base salary as
set forth in Exhibit A, which may be adjusted from time to time by the Board (the “Base Salary”), payable in regular monthly or bi-weekly installments in accordance with the standard procedures of the Company. Executive’s Base
Salary shall be subject to annual review by the Board; provided, however, that the level of such Base Salary shall not be subject to reduction unless consented to in writing by Executive. 

3.2 Performance Based Compensation. During the Period of Employment and provided that Executive remains continuously employed by the
Company through the end of the applicable fiscal year, Executive shall also be eligible to participate in any annual performance-based cash bonus program that may be offered by the Company, as set forth in Exhibit B. 

3.3 Taxes and Withholdings. Federal, state, local and other applicable taxes, as well as other authorized deductions, shall be withheld
on all cash and in-kind payments made by the Company to Executive pursuant to this Agreement in accordance with applicable tax laws and regulations. 

3.4 Transportation. During the Period of Employment, Executive shall receive a monthly car allowance at a cost not to exceed $1,200.00
per month; provided, however, that Executive shall properly account for same in accordance with all applicable requirements for federal income tax deductibility, and with the Company’s policies and procedures. 

  

					
					  

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 4. Benefits. During the Period of Employment, Executive shall be eligible to participate
in benefit plans and programs maintained by the Company from time to time and generally made available to its executive officers; provided, however, that: (a) Executive’s ability to participate in such plans and programs
shall be determined by the eligibility requirements of same, and shall not affect the Company’s right to amend or terminate any such plan or program, and (b) Executive shall have no vested rights under any such plan or program except as
expressly provided under the terms thereof. 
 During the Period of Employment, Executive shall receive six (6) weeks of paid vacation
in calendar year 2014, and four (4) weeks of paid vacation per year in calendar year 2015 and any subsequent calendar years, subject to the Company’s policies and procedures regarding same. 

5. Expenses. Without duplication of the car allowance set forth in Section 3.4 hereof, upon the submission of acceptable
documentation or other substantiation in accordance with Company policies and procedures, the Company will pay or reimburse Executive for such reasonable travel, entertainment, and other expenses as Executive may incur during the Period of
Employment in connection with the performance of his duties hereunder. 
 6. Termination of Employment. The parties hereto further
acknowledge and agree that Executive’s employment may be terminated for any reason or no reason at any time by their mutual agreement, or by either the Company or the Executive upon thirty (30) calendar days’ advance written notice by
the terminating party (or immediately upon written notice by the Company in the case of termination by the Company for Cause [as defined below]) and that, upon any such termination, except as set forth in Section 6.2 hereof, Executive shall not
be entitled to any payment in the nature of severance or otherwise (other than Base Salary, bonus and any other benefits to the extent earned and accrued through the date of such termination – i.e., if termination for any reason occurs after
December 31st of any year for which a bonus is payable by the Company, but before such bonus is due to be paid for the preceding year in which it was earned, provided that such bonus would
have been paid to Executive had such termination not occurred). In addition, at any time after notice of resignation or termination is given in accordance with this Section 6, the Company in its sole discretion may require that Executive cease
active employment during the notice period. In such event, Executive during such period shall continue to receive his Base Salary and any applicable bonus and benefits that may continue under terms of their plan documents. 

For purposes of this Agreement, the resignation or termination of Executive’s employment shall also constitute the termination of this
Agreement, and the termination of this Agreement shall also constitute the termination of such employment (unless otherwise agreed in writing by the undersigned parties). 

6.1 Death or Disability. The employment of Executive and all rights to compensation under this Agreement shall terminate upon the death
or Disability (as defined below) of Executive, except for such death or disability payments as may be payable under one or more benefit plans maintained at that time by the Company and applicable to the Executive or his estate. As used herein,
“Disability” means the Board has made a good-faith determination 

  

					
					  

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that Executive has become physically or mentally incapacitated or disabled, such that Executive is unable to perform for the Company substantially the same essential functions of his job duties
and services as Executive performed prior to incurring such incapacity or disability, and such incapacity or disability exists for at least ninety (90) consecutive calendar days. In the event of a dispute concerning the nature or extent of any
such incapacity or disability, the Company and Executive (or his representative) shall jointly select and retain a suitably qualified, independent physician or other healthcare provider, at the Company’s expense, to determine the nature and
extent of such incapacity or disability. The determination made by such physician or other healthcare provider shall be binding on the parties for the purposes of this Agreement. 

6.2 Termination with Severance Obligation. 

(a) Upon termination of Executive’s employment by the Company without Cause (as defined below) or by Executive for Good Reason (as defined
below) and for so long as Executive is in material compliance with the terms of this Agreement (including without limitation, Section 7.1), Executive shall receive from the Company: (i) a monthly cash severance payment in the amount equal
to the sum of Executive’s monthly Base Salary in effect on the date of termination, plus $20,833.34, for a period of twelve (12) months from the date of termination, payable in monthly or bi-weekly installments in accordance with the
standard policies and procedures of the Company, and (ii) continued participation at the Company’s expense in any health insurance benefit plan or program maintained by the Company at the date of termination for a period of twelve
(12) months after such date, or if such participation is not allowed by such plan or program then the Company shall pay for or reimburse Executive for the cost of any premiums for continued health insurance coverage of Executive during such
period upon his election of same under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”). 
 (b) Notwithstanding the
foregoing, Executive and the Company further agree that Executive may also receive the severance payment described above if the Company hires a new Chief Executive Officer and Executive is not selected for such position; provided, however, that
Executive must provide written notice to the Company that he is resigning and terminating his employment within 30 days after the Company announces such hiring or selection. 

(c) As used herein: (i) “Cause” means that Executive (1) has been convicted of a felony, or has entered a plea of guilty or
no lo contendere to a felony; (2) has knowingly committed an act involving dishonesty, bad faith or moral turpitude, or has engaged in willful misconduct; (3) has materially breached any obligation under Section 7.1 or
7.2 hereof; or (4) has willfully or repeatedly refused to satisfactorily perform his duties with the Company or any of its subsidiaries; and (ii) “Good Reason” means (1) failure by the Company to pay any material amount owed
to Executive under this Agreement; (2) a substantial diminution in the status, position and responsibilities of Executive compared with Executive’s status, position and responsibilities with the Company on the Effective Date; or (3) a
reduction of Executive’s Base Salary as in effect from time to time (d) In the event that any change in Executive’s status, position and responsibilities is implemented or proposed to be implemented by the Company, then:
(i) unless Executive provides written notice to the Board within thirty (30) calendar days of being notified of such change or proposed change that Executive asserts that such change constitutes a “substantial diminution” for
purposes of clause (c)(ii)(2) of the above definition of 

  

					
					  

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Good Reason, such change shall be deemed not to be such a “substantial diminution” and thereafter Executive’s status, position and responsibilities shall be as so changed; and
(i) in the event that Executive provides such notice in a timely manner and, within thirty (30) calendar days thereafter, the Company, in its sole discretion, rescinds or alters such change in a manner not contested by Executive as
described above, then for purposes of such clause (c)(ii)(2) of the definition of Good Reason the original change shall be disregarded (except to any extent so altered). Nothing in this Section 6.2 shall limit the Company’s right to
contest any assertion that Executive may make with respect to any such change. 
 6.3 Release. At the time of any resignation or
termination of Executive’s employment, Executive agrees to execute a general release agreement in a form provided by the Company whereby Executive will waive, release, relinquish and forever discharge the Company and each of its parents and
subsidiaries and any director, officer, employee, shareholder, controlling person, agent, representative and insurer of the Company, and each parent, subsidiary, successor and predecessor from any and all claims, damages, losses, costs, expenses,
liabilities or obligations, whether known or unknown (other than any rights Executive may have under (i) any indemnification arrangement of the Company with respect to Executive, (ii) any vested rights under any employee retirement plan or
program of the Company, or (iii) any stock purchase or stock option plan or agreement to which the Company and Executive are parties), which Executive has incurred or suffered or may incur or suffer as a result of Executive’s employment by
the Company, or his resignation or termination from such employment. 
 6.4 No Further Payments. For the avoidance of any doubt, and
notwithstanding any other provision of this Agreement or any other plan, agreement or arrangement with the Company or any of its affiliates to the contrary, to the extent any payment or benefit (including non-cash benefits) provided under this
Agreement or any other plan, agreement or arrangement with the Company or any of its affiliates, either alone or together with such other payments and benefits (including non-cash benefits) which Executive receives or is entitled to receive from the
Company or any of its affiliates, would result in the Executive being subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (or any successor provision), with respect to such payment or benefit,
neither the Company nor any of its affiliates shall be obligated to pay any amount to Executive (or to any other party on behalf of Executive) as a result of, or in respect of, such excise tax. 

7. Non-Competition; Non-Disclosure of Proprietary Information, Surrender of Records; Inventions and Patents. 

7.1 Non-Competition. 
 (a)
Executive acknowledges and agrees that, in the course of his employment with the Company, Executive will be exposed to, receive and become familiar with trade secrets and other confidential or proprietary information (as defined below) of the
Company, and that Executive’s services will be of special, unique and extraordinary value to the Company. Therefore, Executive agrees that the noncompetition, nonsolicitation and other restrictive covenants set forth in the Restricted Person
Noncompetition, Nonsolicitation and Confidentiality Agreement that he and the Company signed effective January 31, 2014, which shall remain in full force and effect, are reasonable and necessary to protect the Company’s legitimate business
interests, and that he shall comply with same. 

  

					
					  

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 7.2 Proprietary Information. Executive agrees that he shall not use for his own purpose or
for the benefit of any person or entity other than the Company or its shareholders or affiliates, nor shall Executive otherwise disclose to any individual or entity at any time while Executive is employed by the Company or thereafter, any
proprietary information of the Company unless such disclosure (a) has been authorized by the Board, (b) is reasonably required within the course and scope of Executive’s employment hereunder or (c) is required by law, a court of
competent jurisdiction or a governmental or regulatory agency. For purposes of this Agreement, “proprietary information” shall mean trade secrets and other internal business information of the Company that is proprietary in nature,
confidential to the Company, and not generally known by or available to the public or to the Company’s competitors. Such proprietary information may include, but is not limited to: (i) the name or address of any customer, supplier or
affiliate of the Company or any information concerning the transactions or relations of any customer, supplier or affiliate of the Company or any of its shareholders; (ii) any information concerning any product, service, technology or procedure
offered or used by the Company, or under development by or being considered for use by the Company; (iii) any information relating to marketing or pricing plans or methods, capital structure, or any business or strategic plans of the Company;
(iv) any inventions, innovations, trade secrets or other items covered by Section 7.4 below; and (v) any other information which the Board has determined by resolution and communicated to Executive in writing to be proprietary
information for purposes hereof. However, proprietary information shall not include any information that is or becomes generally known to the public other than through actions of Executive in violation of Sections 7.1, 7.2 or 7.3 hereof. 

7.3 Surrender of Records and Property. Executive agrees that at any time upon the Company’s request, or upon his resignation or
termination of employment with same, he shall not retain and shall promptly surrender to the Company all correspondence, memoranda, files, manuals, financial, operating or marketing records, magnetic tape or other storage devices, or electronic or
other media of any kind belonging to the Company, and any computer, computer tablet, cellular or smart phone, or other equipment or property owned by the Company, and any proprietary information as defined in Section 7.2 above, which may be in
Executive’s possession or under his direction or control. 
 7.4 Inventions and Patents. Executive agrees that all inventions,
innovations, trade secrets, patents and processes in any way relating, directly or indirectly, to the Company’s business developed by Executive alone or in conjunction with others at any time during Executive’s employment by the Company
shall belong to the Company. Executive hereby assigns to the Company, and the Company shall have, the sole and exclusive right, title, and interest in and to all discoveries, ideas, information, innovations, inventions, methods, processes, products,
techniques, technologies, and improvements thereto and physical manifestation thereof (whether or not patentable or copyrightable) that are acquired, conceived, created, developed, or reduced to practice in whole or in part by Executive, either
alone or with others, during his or her employment with the Company that: (a) relate in any way to the business of the Company, or to 

  

					
					  

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actual or anticipated research and development of the Company, or (b) result in any way from the performance by Executive of duties and responsibilities as an employee of the Company.
Executive further agrees that all original works of authorship which are made by him, whether alone or with others, within the scope of and during the period of his or her employment with the Company and which are protectable by copyright laws, are
“works made for hire” as that term is defined in the United States Copyright Act. Executive shall also use his best efforts to perform all actions reasonably requested by the Board to establish and confirm such ownership by the Company.

 7.5 Definition of Company. For purposes of this Section 7, the term “Company” shall include American Tire
Distributors, Inc. and any and all of its parents, subsidiaries, joint ventures, predecessors, successors and affiliated entities as the same may exist from time to time; provided that, upon the assignment by the Company of its rights
under this Agreement pursuant to Section 8.7, the term “Company” shall thereafter include only the Company and its subsidiaries and joint ventures. 

7.6 Enforcement. The parties hereto agree that the duration and area for which the covenants set forth in Section 7 are to be
effective are reasonable and necessary to protect the Company’s legitimate business interests. In the event that any court or arbitrator determines that the Restricted Period, Restricted Territory or any other aspect of such covenants,
including but not limited to those restrictive covenants set forth in the above-mentioned Restricted Person Noncompetition, Nonsolicitation and Confidentiality Agreement, are unreasonable or unenforceable in any respect, the parties hereto agree
that such covenants will remain in full force and effect, first, for the greatest time period, and second, in the greatest geographical area, that would render them enforceable as determined by such court or arbitrator. Executive further agrees that
damages are an inadequate remedy for any breach of the covenants in this Section 7 and that the Company shall, whether or not it is pursuing any damages or other remedies at law, also be entitled to equitable relief in the form of temporary,
preliminary and permanent injunctions without bond or other security upon any actual or threatened breach of this Agreement. 
 8.
Miscellaneous. 
 8.1 Notice. Any notice required or permitted to be given hereunder shall be deemed sufficiently given if sent
by registered or certified mail, postage prepaid, or by overnight carrier, addressed to the addressee at the address last provided to the sender in writing by the addressee for purposes of receiving notices hereunder or, unless or until such address
shall be so furnished, to the address indicated opposite addressee’s signature to this Agreement. Each party may also provide notice by hand delivering same to the other party, or by sending the other party a facsimile at a number provided by
such other party. 
 8.2 Modification and No Waiver of Breach. No waiver or modification of this Agreement shall be binding unless it
is in writing, approved by the Board and signed by the parties hereto. No waiver by a party of a breach hereof by the other party shall be deemed to constitute a waiver of a future breach, whether of a similar or dissimilar nature, except to the
extent specifically provided in any written waiver under this Section 8.2. 

  

					
					  

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 8.3 Governing Law. This Agreement shall be governed by and construed and interpreted in
accordance with the laws of the State of New York, New York (without regard to principles of conflicts of laws), and all questions relating to the validity and performance hereof and remedies hereunder shall be determined in accordance with such
law. 
 8.4 Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but
which taken together shall constitute one and the same Agreement. The parties further agree that a party’s signature sent via facsimile shall also constitute an original signature for purposes of executing this Agreement. 

8.5 Captions. The captions used herein are for ease of reference only and shall not define or limit the provisions hereof. 

8.6 Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto relating to the matters encompassed
hereby, and supersedes and replaces any prior oral or written agreements relating to such matters, including but not limited to the Transition Services Agreement dated January 31, 2014. Notwithstanding the foregoing, the Restricted Person
Noncompetition, Nonsolicitation and Confidentiality Agreement between the parties dated January 31, 2014 shall remain in full force and effect. 

8.7 Assignment. The rights of the Company under this Agreement may, without the consent of Executive, be assigned by the Company, in its
sole and unfettered discretion, to any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly, acquires 80% or more of the stock, assets or business of the Company.
Because Executive’s duties hereunder are personal in nature, the parties agree that he may not assign this Agreement to any third party. 

8.8 Non-Transferability of Interest. None of the rights of Executive to receive any form of
compensation payable pursuant to this Agreement shall be assignable or transferable except through a testamentary disposition or by the laws of descent and distribution upon the death of Executive. Any other attempted assignment, transfer,
conveyance or other disposition of any interest in the rights of Executive to receive any form of compensation to be made by the Company pursuant to this Agreement shall be void. 

8.9 Indemnification. The Company shall indemnify Executive to the fullest extent permitted under applicable law in connection with any
actions taken by him as an employee and director of the Company, provided such actions were authorized by the Company and conducted in the normal course of his duties and responsibilities hereunder, and were taken in good faith. 

8.10 Arbitration. Any dispute, claim or controversy arising out of or relating to this Agreement or to Executive’s employment,
resignation or termination of employment with the Company, including without limitation any dispute, claim or controversy concerning validity, enforceability, breach or termination hereof, shall be finally settled by arbitration in accordance with
the then-prevailing Commercial Arbitration Rules of the American Arbitration Association, as modified herein (“Rules”). There shall be one arbitrator who shall be jointly selected by the 

  

					
					  

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parties. If the parties have not jointly agreed upon an arbitrator within twenty (20) calendar days of respondent’s receipt of claimant’s notice of intention to arbitrate, either
party may request the American Arbitration Association to furnish the parties with a list of names from which the parties shall jointly select an arbitrator. If the parties have not agreed upon an arbitrator within ten (10) calendar days of the
transmittal date of the list, then each party shall have an additional five (5) calendar days in which to strike any names objected to, number the remaining names in order of preference, and return the list to the American Arbitration
Association, which shall then select an arbitrator in accordance with Rule 13 of the Rules. The place of arbitration shall be Charlotte, North Carolina. By agreeing to arbitration, the parties hereto do not intend to deprive any court of its
jurisdiction to issue a pre-arbitral injunction, pre-arbitral attachment or other order in aid of arbitration, including but not limited to any injunctive relief that may be sought by a party regarding the enforcement of any rights or remedies for a
breach or threatened breach of any restrictive covenant in Section 7 above. The arbitration shall be governed by the Federal Arbitration Act, 9 U.S.C. §§ 1-16. Judgment upon the award of the arbitrator may be entered in any court of
competent jurisdiction. Each party shall bear its or his own costs and expenses in any such arbitration and one-half of the arbitrator’s fees and expenses. 

8.11 Survivability. The covenants contained in any section of this Agreement whose terms come into or remain in effect after the
expiration or termination of this Agreement, or after Executive’s resignation or termination of employment with the Company, shall survive and be enforceable in law, equity or through arbitration as established herein after such expiration,
resignation or termination, including but not limited to the covenants in Section 7 and all applicable covenants in Section 8. 

8.12 IRC Section 409A Compliance. Notwithstanding any provision of this Agreement to the contrary, the Company shall use
commercially reasonable efforts to comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder, in making any payment of severance benefits to Executive under this
Agreement; provided however, that the Company makes no representation or warranty to Executive as to whether or not Section 409A shall be applicable to any such payment, or whether in such case the Agreement complies
with Section 409A. Notwithstanding anything in this Agreement to the contrary, no payment of severance benefits that is subject to Section 409A and that is made as a result of Executive’s involuntary termination or
resignation of employment with the Company shall be made unless such separation constitutes a “separation from service” as that term is defined in Treasury Regulation §1.409A-1(h); and provided further, that if Executive
is a “specified employee” (as that term is defined in Treasury Regulation §1.409A-1(i)) at any time during the six-month period immediately following the effective termination or separation date, then any payments of
severance benefits that would have been paid to Executive during the period beginning on the date he is first deemed to be a specified employee and ending on the date that is six months after such termination or separation date, shall not be paid as
specified in above in this Agreement, but instead shall be paid to Executive on the date that is six months after such date. 

  

					
					  

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 8.13 Severability. Each provision of this Agreement is intended to be separable. If any
such provision, or part thereof, is determined by a court to be invalid, illegal or otherwise unenforceable, then it shall be severed and all remaining provisions shall be given full force and effect while being construed as if such provision or
part had not been contained within the Agreement. In addition to or instead of such severing, if the scope of any such provision or part is determined to be too broad or otherwise invalid or illegal, thereby preventing its enforcement to the fullest
extent, Executive and the Company hereby authorize and consent to the court judicially modifying such provision or part in order to enforce same and this Agreement to the maximum extent permitted by law. 

IN WITNESS WHEREOF, this Agreement has been duly executed as of the day and year first written above. 

 

									
	EXECUTIVE				 AMERICAN TIRE DISTRIBUTORS, INC.,
 a
Delaware corporation

				
	 /s/ William P. Trimarco
				By:		 /s/ William E. Berry

	Name:		William P. Trimarco				Name:		William E. Berry
							Title:		President & CEO
	Address for Notices:						
					Address for Notices:
	29316 Targhee Lane				
	Evergreen, CO 80439				American Tire Distributors, Inc.
	Fax: (        )
                                         
   				12200 Herbert Wayne Court, Suite 150
							 P.O. Box 3145
 Huntersville, NC
28078
 Attention: J. Michael Gaither
 Fax: (704)
947-1919

  

					
					  

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 EXHIBIT A 

to  
 Employment Agreement

  

			
	Name of Executive:		William P. Trimarco
		
	Title(s):		Executive Vice President – Product Strategy & Supply
		
	Base Salary:		$485,000.00 per annum

  

					
					  

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 EXHIBIT B 

to  
 Employment Agreement

 ANNUAL PERFORMANCE-BASED CASH BONUS 

Name of Executive: William P. Trimarco 
 For each
fiscal year subsequent to 2014, during the Period of Employment, Executive will be entitled to an annual performance-based cash bonus (the “Executive Bonus Plan”) as a Level I-B participant on such terms as shall be determined by the
Board. 

  

					
					  

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FORM OF CHANGE IN CONTROL AGREEMENT

THIS CHANGE IN CONTROL AGREEMENT, dated as of March 17, 2015, is made by and between Tractor Supply Company, a Delaware corporation (the “Company”), and ______________ (the “Executive).

WHEREAS, the Company considers it essential to the best interests of its stockholders to foster the continued employment of key management personnel; and

WHEREAS, the Board recognizes that, as is the case with many publicly held corporations, the possibility of a Change in Control exists and that such possibility, and the uncertainty and questions that it may raise among management, may result in the departure or distraction of management personnel to the detriment of the Company and its stockholders; and

WHEREAS, the Board has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of certain members of the Company's senior management, including the Executive, to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control.

NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the Company and the Executive hereby agree as follows:

1.Defined Terms.  The definitions of capitalized terms used in this Agreement are provided in the last Section hereof.

2.Term of Agreement.  The Term of this Agreement shall commence on the date hereof and shall continue in effect through February 28, 2017; provided, however, that if a Change in Control occurs during the Term, the Term shall expire no earlier than the second anniversary of the date on which such Change in Control occurs.

3.Company's Covenants.  In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive's covenants set forth in Section 4 hereof, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described herein.  No Severance Payments or other benefits shall be payable or provided under this Agreement unless there shall have been (or, under the terms of the last sentence of the paragraph following Section 6(a)(vi) hereof, there shall be deemed to have been) a termination of the Executive's employment with the Company on or following a Change in Control and during the Term. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

4.The Executive's Covenants.  

(a)    Employment.  The Executive agrees that, subject to the terms and conditions of this Agreement, in the event of a Change in Control during the Term, the Executive will remain in the employ of the Company until the earliest of (i) a date which is six (6) months from the date of such Change in Control, (ii) the Date of Termination by the Executive of the Executive's employment for Good Reason or by reason of death, Disability or Retirement, or (iii) the termination by the Company of the Executive's employment for any reason. 

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(b)    Noncompetition, etc.  The Executive agrees that the Executive will not, for a period of eighteen (18) months from the Date of Termination of the Executive’s employment by the Company following a Change in Control, (i) directly or indirectly become an employee, director, consultant or advisor of, or otherwise affiliated with, any retailer principally in the farm and ranch sector with more than five (5) stores or more than $15 million in annual revenues in the United States, (ii) directly or indirectly solicit or hire, or encourage the solicitation or hiring of, any person who was an employee of the Company at any time on or after such Date of Termination (unless more than six months shall have elapsed between the last day of such person's employment by the Company and the first date of such solicitation or hiring), or (iii) disparage the name, business reputation or business practices of the Company or any of its officers or directors, or interfere with the Company's existing or prospective business relationships.  The Executive also agrees that the Executive will not, during Executive’s employment and following the Date of Termination of Executive’s employment, without the written consent of the Company, disclose to any person, other than as required by law or court order, any confidential information or trade secrets obtained by the Executive while in the employ of the Company; provided, however, that confidential information shall not include any information known generally to the public (other than as a result of unauthorized disclosure by the Executive) or any specific information or type of information generally not considered confidential by persons engaged in the same business as the Company.  The Executive acknowledges that these restrictions are reasonable and necessary to protect the Company's legitimate interests, that the Company would not have entered into this Agreement in the absence of such restrictions, and that any violation of these restrictions will result in irreparable harm to the Company. The Executive agrees that the Company shall be entitled to preliminary and permanent injunctive relief, without the necessity of proving actual damages, as well as an equitable accounting of all earnings, profits and other benefits arising from any violation hereof, which rights shall be cumulative and in addition to any other rights or remedies to which the Company may be entitled. 

(c)     Return of Confidential Information.  Upon termination of Executive’s employment with the Company or at any other time upon the Company’s request, Executive shall promptly return to the Company all originals and all copies (including photocopies and facsimiles and copies on computers or other means of electronic storage) of all materials relating in any way to confidential information or the business of the Company or any affiliates of the Company, whether made or compiled by Executive or furnished to Executive by virtue of his or her employment with the Company and will so represent to the Company.  Upon Executive’s termination of employment with the Company, Executive shall also return to the Company all Company property in his or her possession.

		
	5.
	Compensation Other Than Severance Payments. 

(a)    If the Executive's employment shall be terminated for any reason following a Change in Control and during the Term, the Company shall pay the Executive's full salary to the Executive through the Date of Termination (the “Accrued Salary”) at the rate in effect immediately prior to the Date of Termination or, if higher, the rate in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason, together with all compensation and benefits payable to the Executive through the Date of Termination under and in accordance with the terms of the Company's compensation and benefit plans, programs or arrangements as in effect immediately prior to the Date of Termination or, if more favorable to the Executive, as in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason.  The Accrued Salary shall be paid to the Executive within thirty (30) days of the Date of Termination, with the payment date determined by the Company in its sole discretion.

(b)    If the Executive's employment shall terminate for any reason following a Change in Control and during the Term, the Company shall pay to the Executive the Executive's normal post-termination compensation and benefits, if any; provided, however, that, the severance benefits provided in Section 6 hereof shall be exclusive and the Executive shall not be entitled to participate in, or receive severance benefits 

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under, any other severance plan or program that may be adopted by the Company or any other employment agreement.  Any post-termination compensation and benefits shall be determined under, and paid in accordance with, the Company's retirement, insurance and other compensation or benefit plans, programs and arrangements as in effect immediately prior to the Date of Termination or, if more favorable to the Executive, as in effect immediately prior to the occurrence of the first event or circumstance constituting Good Reason.  
    

		
	6.
	Severance Payments.

(a)    Severance Payments.  If the Executive's employment is terminated following a Change in Control and during the Term, other than (A) by the Company for Cause, (B) by reason of death, Disability or Retirement, or (C) by the Executive without Good Reason, then the Company shall pay the Executive the following amounts, and provide the Executive the following benefits (collectively, the “Severance Payments”), in addition to any payments and benefits to which the Executive is entitled under Section 5 hereof: 

(i)    In lieu of any further salary payments to the Executive for periods subsequent to the Date of Termination and in lieu of any severance benefit otherwise payable to the Executive (including pursuant to any employment agreement), the Company shall pay to the Executive a lump sum severance payment, in cash, equal to 1.5 times the sum of (x) the Executive's base salary as in effect immediately prior to the Date of Termination or, if higher, in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason, and (y) the average of Executive's annual bonus(es) or award(s) for the three (3) fiscal years pursuant to any cash bonus plan (but excluding the Company’s Long-Term Cash Plan (the “LTCP”)) maintained by the Company in respect of the fiscal years preceding the Date of Termination or, if higher, in respect of the fiscal years preceding the Change in Control. 

(ii)      In lieu of any benefits continuation following Termination, the Company shall pay to Executive a lump sum payment, in cash, equal to the estimated cost of procuring for the Executive and his dependents: life, disability, accident and health insurance benefits for a period of two years following the Date of Termination.   

(iii)    Notwithstanding any provision of any stock option plan, stock incentive plan, restricted stock plan or similar plan or agreement to the contrary, as of the Date of Termination, (x) the Executive shall be fully vested in all outstanding options to acquire stock of the Company (or the options of any parent, surviving, or acquiring company then held by the Executive) and all then outstanding restricted shares of stock of the Company and other equity-based awards (including restricted stock units of the Company) (or, in each case, such parent, surviving or acquiring company) held by the Executive, and (y) subject to any limitation on exercise in any such plan or agreement that may not be amended without stockholder approval, all options referred to in clause (x) above shall be immediately exercisable and shall remain exercisable until the earlier of (1) the second anniversary of the Date of Termination, or (2) the otherwise applicable expiration date of the term of such option.  For the avoidance of doubt, settlement of any restricted stock units, the vesting of which is accelerated pursuant to this Agreement, shall occur upon vesting pursuant to this Section 6(a)(iii), subject to any previous legally binding deferral election regarding such units.

(iv)    To the extent that the full vesting of any stock option, share of restricted stock or other equity-based award, or the full exercisability of any stock option or other equity-based award, provided for in Section 6(a)(iii) should violate any law, rule or regulation of any governmental authority or 

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self-regulatory organization applicable to the Company, or to the extent otherwise determined by the Company in its sole discretion, the Company may, in lieu of providing any vesting or exercisability rights pursuant to Section 6(a)(iii), (x) cancel any or all of the Executive’s outstanding options in exchange for a lump sum payment, in cash, equal to the excess of the fair market value of the shares of stock underlying such options (whether or not vested or exercisable) on the Date of Termination (as reasonably determined by the Board in good faith) over the aggregate exercise price provided for in such stock options, and (y) repurchase any shares of restricted stock or other equity-based awards (including restricted stock units of the Company) at their fair market value (as determined by the Board without regard to the restrictions on such shares of stock).  The lump sum payment provided for in this Section 6(a)(iv) shall be made, if at all, within thirty (30) days of the Date of Termination, with the payment date determined by the Company in its sole discretion.  For the avoidance of doubt, settlement of any restricted stock units, the vesting of which is accelerated pursuant to this Agreement, shall occur pursuant to this Section 6(a)(iv), subject to any previous legally binding deferral election regarding such units.

(v)    The Company shall pay to the Executive a lump sum amount, in cash, equal to the  average of the  actual annual bonus(es) or award(s) received by the Executive pursuant to any cash bonus plan (but excluding the Company’s LTCP) maintained by the Company in respect of the three (3) most recent fiscal years which occurred immediately prior to  the Date of Termination, multiplied by a fraction, the numerator of which is the number of days in the current fiscal year through and including the Date of Termination, and the denominator of which is 365.  The lump sum payment provided for in this Section 6(a)(v) shall be made, if at all, within thirty (30) days of the Date of Termination, with the payment date determined by the Company in its sole discretion. 

(vi)    The Company shall provide the Executive with outplacement services suitable to the Executive's position not to exceed $40,000 in amount and in no event shall such amount be paid to Executive.

For purposes of this Agreement, the Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause or by the Executive with Good Reason, if within six (6) months prior to a Change in Control where the Change in Control was under consideration at the time of the following applicable termination event (x) the Executive's employment is terminated by the Company without Cause, or (y) the Executive terminates his employment for Good Reason  within six (6) months of the occurrence of the event which constitutes Good Reason, or if shorter, the end of the Term.  

Notwithstanding anything herein to the contrary, to the maximum extent permitted by applicable law, the Severance Payments and/or other benefits to be made to the Executive pursuant to this Section 6(a) shall be made in reliance upon Treasury Regulations promulgated under Section 409A of the Code, including Section 1.409A-1(b)(9) of the Treasury Regulations (including any exceptions from the application of Section 409A thereunder) and Section 1.409A-1(b)(4) of the Treasury Regulations.  For this purpose, each Severance Payment shall be considered a separate and distinct payment for purposes of Section 409A of the Code.  However, to the extent any such payments are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (a) no amount shall be payable pursuant to this Section 6(a) unless Executive’s termination of employment constitutes a “separation from service” within the meaning of Section 1.409A-1(h) of the Treasury Regulations and (b) if Executive is deemed at the time of his separation from service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, then to the extent delayed commencement of any portion of the Severance Payments to which Executive is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of Executive’s Severance Payments shall not be provided to Executive prior to the earlier of (x) the expiration of the six-month period measured from the date of the Executive’s “separation from service” with the 

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Company (as such term is defined in Section 1.409A-1(h) of the Treasury Regulations) or (y) the date of Executive’s death.  Upon the earlier of such dates, all payments deferred pursuant to this paragraph shall be paid in a lump sum to the Executive, and any remaining payments due under the Agreement shall be paid as otherwise provided herein.  The determination of whether the Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his separation from service shall be made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Section 1.409A-1(i) of the Treasury Regulations and any successor provision thereto).

(b)    Certain Reductions in Payment

(i)     Notwithstanding anything contained in this Agreement to the contrary, if any payment or benefit the Executive would receive from the Company pursuant to this Agreement or otherwise (“Payment”, “Payments” in the aggregate) would, as determined by tax counsel to the Company reasonably acceptable to the Executive (“Tax Counsel”), (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this Section 6(b), be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the Payments will be adjusted to equal the Reduced Amount.  The “Reduced Amount” will be either (1) the largest portion of the Payments that would result in no portion of the Payments (after reduction) being subject to the Excise Tax or (2) the entire amount of the Payments, whichever amount after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate, net of the maximum reduction in federal income taxes which could be obtained from a deduction of such state and local taxes), results in the Executive’s receipt, on an after-tax basis, of the greatest amount of the Payments.  If a reduction in Payments is to be made so that the Payments equal the Reduced Amount, (x) the Payments will be paid only to the extent permitted under the Reduced Amount alternative, and the Executive will have no rights to any additional payments and/or benefits constituting the Payments.  In no event will the Company or any stockholder be liable to the Executive for any amounts not paid as a result of the operation of this Section 6(b).  No portion of any Payment shall be taken into account which in the opinion of Tax Counsel does not constitute a “parachute payment” within the meaning of Code Section 280G(b)(2), including by reason of Code Section 280G(b)(4)(A) (regarding reasonable compensation for services rendered after a change in control).

(ii)    The Company shall reduce or eliminate the Payments by (i) first reducing or eliminating those payments or benefits which are payable in cash and (ii) then reducing or eliminating non-cash payments, in each case in reverse order beginning with payments or benefits which are to be paid the furthest in time from the Change in Control. Any reduction made pursuant to the preceding sentence shall take precedence over the provisions of any other plan, arrangement or agreement governing Executive’s rights and entitlements to any benefits or compensation.  In applying these principles, any reduction or elimination of the Payments shall be made in a manner consistent with the requirements of Section 409A of the Code and where two economically equivalent amounts are subject to reduction but payable at different times, such amounts shall be reduced on a pro rata basis but not below zero.

(c)    The payments provided for in Section 6(a)(i) or 9(a) (as adjusted by Section 6(b)(i)) hereof shall be made not later than the tenth business day following the Date of Termination, with the payment date determined by the Company in its sole discretion.

(d)    The Executive and the Company shall each reasonably cooperate with the other in connection with any administrative or judicial proceedings concerning the existence or amount of liability for Excise Tax with respect to the Payments.  The Company shall pay to the Executive all legal fees and expenses incurred by the Executive (i) in obtaining or enforcing any benefit or right provided by this Agreement or (ii) in connection with any tax audit or proceeding to the extent attributable to the application of Section 

5

4999 of the Code to any payment or benefit provided hereunder, provided that, in either case, Executive prevails on the merits of such action.  Such amounts shall be paid in accordance with Section 409A of the Code, including Sections 1.409A-1(b)(11), 1.409A-3(g) and 1.409A-3(i)(1)(v) of the Treasury Regulations.  In the event of a claim as to which Executive only obtains partial recovery or relief, Executive shall be considered to have prevailed if Executive should receive more than 50% of the amount or relief claimed.  Such payments shall be made within five (5) business days after the later of (y) delivery of the Executive's written requests for payment accompanied with such evidence of fees and expenses incurred as the Company reasonably may require delivered within 20 days of a final, non-appealable judgment from a court of competent jurisdiction or the binding conclusion of an audit, investigation or proceeding by the IRS or applicable agency and (z) a final, non-appealable judgment from a court of competent jurisdiction or the binding conclusion of an audit, investigation or proceeding by the IRS or applicable agency.  

(e)    All reimbursements and in-kind benefits described in this Agreement shall be made in accordance with Treasury Reg. § 1.409A-3(i)(1)(iv) to the extent applicable, including the amount of expenses eligible for reimbursement, and the in-kind benefits provided, during any year pursuant to this Agreement shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided in any other year, the reimbursement is made on or before the last day of the calendar year following the calendar year the expense was incurred, and the right to reimbursement or in kind benefit is not subject to liquidation or exchange for another benefit.

(f)    For the avoidance of doubt, the parties acknowledge that the amount of any Company-paid premiums for the health insurance benefits provided pursuant to this Agreement shall be taxable to the Executive and included in the Executive’s gross income, and that none of the amounts payable hereunder are intended to reimburse Executive for any income taxes payable with respect to such income.

		
	7.
	Termination Procedures and Compensation During Dispute.

(a)    Notice of Termination.  After a Change in Control and during the Term, any purported termination of the Executive's employment (other than by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with Section 10 hereof. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated. Further, a Notice of Termination for Cause is required to include an invitation to attend a meeting of the Board, to be held no sooner than fifteen (15) days and no later than thirty (30) days following the date of such Notice of Termination for the purpose of considering whether Cause existed for the Executive’s termination.  If the Executive elects to attend the meeting, the Executive and his or her counsel shall be given the opportunity to address the Board.  At the conclusion of the meeting, the Board shall vote whether the Executive was guilty of conduct giving rise to Cause hereunder, which vote shall require not less than three-quarters (3/4) of the entire membership of the Board in order to confirm the Executive’s termination for Cause.  If the Board fails to confirm the Executive’s termination for Cause, the Board may elect to reinstate the Executive or treat the termination as a termination without Cause for purposes of this Agreement.  The Company shall have no liability to the Executive with respect to any benefit other than cash compensation that is denied the Executive during the period between the delivery of a Notice of Termination for Cause and the Board’s subsequent failure to confirm that Cause existed.  Notice of Termination due to a Good Reason must be provided by the Executive to the Company within ninety (90) days of the occurrence of the event which is the basis for such Good Reason exists.

(b)    Date of Termination.  The “Date of Termination,” with respect to any termination of the Executive's employment after a Change in Control and during the Term, shall mean the date specified in the 

6

Notice of Termination which, except in the case of a termination for Cause, shall not be less than fifteen (15) days and no more than thirty (30) days from the date such Notice of Termination is given and in the case of a “Good Reason,” shall mean the notice and cure period requirements contained in Sections 7(a) and 16(m) herein.  Notwithstanding the foregoing, the Company shall have the right to restrict the Executive’s access to Company facilities and properties, and to terminate the Executive’s authority to act on behalf of the Company, in such manner as the Company, in its sole discretion, shall deem appropriate during the period between the delivery of such a Notice of Termination and the Date of Termination.  The Date of Termination with respect to a termination for Cause shall be the date the Notice of Termination is delivered to the Executive or such later date as the Company shall expressly provide; provided, however, that if a Notice of Termination for Cause is delivered to the Executive and the Board subsequently determines pursuant to Section 7(a) hereof that Cause did not exist but does not reinstate the Executive, the Date of Termination shall be deemed to be the date of such Board determination.

8.No Mitigation.  The Company agrees that, if the Executive's employment with the Company terminates during the Term, the Executive is not required to seek other employment or to attempt in any way to reduce any amounts payable to the Executive by the Company pursuant to Section 6 hereof. Further, the amount of any payment or benefit provided for in this Agreement shall not be reduced by any compensation earned by the Executive as the result of employment by another employer, by retirement benefits, by offset against any amount claimed to be owed by the Executive to the Company, or otherwise except as set forth in Section 6 or as otherwise expressly provided herein. 

		
	9.
	Successors; Binding Agreement.

 
(a)    In addition to any obligations imposed by law upon any successor to the Company, the Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the Company to obtain such assumption and agreement prior to or upon the effectiveness of any such succession shall be a breach of this Agreement and shall entitle the Executive to compensation from the Company in the same amount and on the same terms (including the determination of the applicable payment date) as the Executive would be entitled to hereunder if the Executive were to terminate the Executive's employment for Good Reason after a Change in Control (a “Change in Control Payment”) except that, for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the Date of Termination.  For purposes of a Change in Control Payment described in the previous sentence, such payment shall only occur if the succession is a “change in control” of the Company as defined in Treasury Regulation 1.409A-3(i)(5).  For the avoidance of doubt, if the Executive receives a Change in Control Payment pursuant to this Section 9(a), then the Executive shall not be entitled to any Payment under Section 6(a)(i) following his subsequent termination of employment.  Notwithstanding the foregoing, if the Company successfully obtains such assumption and agreement prior to or upon the effectiveness of any such succession and the successor extends an offer of employment to the Executive, any termination of the Executive’s employment with the Company incident to such succession shall be ignored for purposes of this Agreement; provided that nothing contained in this Section 9(a) shall limit the Executive’s right to terminate employment with the successor for Good Reason if the succession constitutes a Change in Control and the successor takes any action subsequent to such succession that would constitute Good Reason hereunder.

(b)    This Agreement shall inure to the benefit of and be enforceable by the Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall die while any amount would still be payable to the Executive hereunder (other than 

7

amounts which, by their terms, terminate upon the death of the Executive) if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the executors, personal representatives or administrators of the Executive's estate.

10.Notices.  For the purpose of this Agreement, notices and all other communications provided for in the Agreement shall be in writing and shall be deemed to have been duly given when delivered or mailed by United States registered mail, return receipt requested, postage prepaid, addressed, if to the Executive, to the address inserted below the Executive's signature on the final page hereof and, if to the Company, to the address set forth below, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address shall be effective only upon actual receipt:

To the Company:
        
Tractor Supply Company
 5401 Virginia Way 
Brentwood, TN 37027
Attention:  Corporate Secretary

11.Miscellaneous.  No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and such officer as may be designated by the Board and complies with Section 409A of the Code. No waiver by either party hereto at any time of any breach by the other party hereto of, or of any lack of 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.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Tennessee.  All references to sections of the Exchange Act or the Code shall be deemed also to refer to any successor provisions to such sections.  Any payments provided for hereunder shall be paid net of any applicable withholding required under federal, state or local law and any additional withholding to which the Executive has agreed. The obligations of the Company and the Executive under this Agreement which by their nature may require either partial or total performance after the expiration of the Term (including, without limitation, those under Sections 4, 6 and 7 hereof) shall survive such expiration.

12.Validity.  The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.

13.Counterparts.  This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

14.Settlement of Disputes.  Except as otherwise provided by law, this Agreement or the specific terms of any employee benefit plan of the Company, all claims by the Executive for benefits under this Agreement shall be directed to and determined by the Board and shall be in writing.  The Executive shall provide the Board with all materials and information reasonably requested by the Board in connection with its review of any such claim.  Any denial by the Board of a claim for benefits under this Agreement shall be delivered to the Executive in writing within 90 days of its receipt of the claim and shall set forth the specific reasons for the denial, the specific provisions of this Agreement relied upon, a description of any additional material or information necessary to perfect the claim, and a statement of the Executive’s right to file an action under ERISA.  The Board shall afford a reasonable opportunity to the Executive for a review of the decision denying a claim and shall further allow the Executive to appeal to the Board a decision of the Board 

8

within sixty (60) days after notification by the Board that the Executive's claim has been denied.  In pursuing his or her appeal, the Executive shall be permitted to submit written comments, documents, records or other relevant information relating to his or her claim.  In addition, the Executive will be provided, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to his or her claim.  The Company’s review will take into account all information submitted by the Executive regarding the claim, regardless of whether or not such information was submitted or considered in the initial determination.  The Company will render its decision on such review within a reasonable period of time, but not later than 60 days from the Company’s receipt of the Executive’s written appeal.  If the appeal is denied in whole or in part, the Executive will receive a written notification of the denial which will include (i) the specific reasons for the denial, (ii) reference to the specific provisions of the Agreement upon which the denial was based and (iii) a statement of the Executive’s right to bring an action under ERISA.  The resolution of any disputes shall be made strictly in accordance with Section 409A and the Treasury Regulations issued thereunder, to the extent applicable.

15.Compliance with Section 409A.  The parties acknowledge and agree that, to the extent applicable, this Agreement shall be interpreted in accordance with, and the parties agree to use their best efforts to achieve timely compliance with, Section 409A of the Code and the Treasury Regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the Effective Date. Notwithstanding any provision of this Agreement to the contrary, in the event that the Company determines that any compensation or benefits payable or provided under this Agreement may be subject to Section 409A of the Code, the Company may adopt such limited amendments to this Agreement and appropriate policies and procedures, including amendments and policies with retroactive effect, that the Company reasonably determines are necessary or appropriate to (i) exempt the compensation and benefits payable under this Agreement from Section 409A of the Code and/or preserve the intended tax treatment of the compensation and benefits provided with respect to this Agreement or (ii) comply with the requirements of Section 409A of the Code.

16.Definitions.  For purposes of this Agreement, the following terms shall have the meanings indicated below:

(a)    “Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Exchange Act.

(b)    “Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the Exchange Act.

(c)    “Board” shall mean the Board of Directors of the Company.

(d)    “Cause” for termination by the Company of the Executive's employment shall mean (i) Executive’s failure or refusal to carry out the lawful directions of the Company, which are reasonably consistent with the responsibilities of the Executive’s position; (ii) a material act of dishonesty or disloyalty by Executive related to the business of the Company; (iii) Executive’s conviction of a felony, a lesser crime against the Company, or any crime involving dishonest conduct; (iv) Executive’s habitual or repeated misuse or habitual or repeated performance of the Executive’s duties under the influence of alcohol or controlled substances; or (v) any incident materially compromising the Executive’s reputation or ability to represent the Company with the public or any act or omission by the Executive that substantially impairs the Company’s business, good will or reputation.

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(e)    “Change in Control” shall be deemed to have occurred if:

(i)Any one person or more than one person acting as a group (as defined in Section 1.409A-3(i)(5)(v)(B) of the Treasury Regulations) acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons), ownership of the securities of the Company representing more than 35% of the total voting power of the Company’s then outstanding securities; provided, however, that no Change of Control shall be deemed to have occurred as a result of a change in ownership percentage resulting solely from an acquisition of securities by the Company; or

(ii)During any twelve (12) month period during the Term, the majority of the individuals who at the beginning of such twelve (12) month period constitute the Board and any new director whose election to the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved (such individuals and any such new director being referred to as the “Incumbent Board”) are replaced; provided, however, that to the extent consistent with Section 409A of the Code, that no individual shall be considered a member of the Incumbent Board if such individual initially assumed office as a result of either an actual or threatened “Election Contest” (as described in Rule 14a-11 promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board (a “Proxy Contest”) including by reason of any agreement intended to avoid or settle any Election Contest or Proxy Contest; or

(iii)Consummation of a reorganization, merger or consolidation of the Company (a “Business Combination”), in each case, unless, following such Business Combination, all or substantially all of the individuals and entities who were the beneficial owners of outstanding voting securities of the Company immediately prior to such Business Combination beneficially own, directly or indirectly, 50% or more of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors of the company resulting from such Business Combination (including, without limitation, a company which, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the outstanding voting securities of the Company; or

(iv)A sale or other disposition of all or substantially all of the assets of the Company (other than in a transaction in which all or substantially all of the individuals and entities who were the Beneficial Owners of outstanding voting securities of the Company immediately prior to such sale or other disposition beneficially own, directly or indirectly, substantially all of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors of the acquirer of such assets (either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such sale or other disposition), or the approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.

For the avoidance of doubt, the definition of a Change in Control in this Section 16(e) is intended to comply with and shall be interpreted in accordance with Section 1.409A-3(i)(5) of the Treasury Regulations and any inconsistencies between such section and this definition (except for the selection of a higher percentage or more stringent ownership requirement contained in this Section 16(e)) shall be reformed to the definition of an applicable “change in the ownership,” change in the effective control” or a “change in the ownership of a substantial portion of the assets” of the Company, as such terms are defined in Section 

10

1.409A-3(i)(5) if the Treasury Regulations.  As a result, a Change in Control shall only be deemed to occur if such event meets the requirements of Section 1.409A-3(i)(5) of the Treasury Regulations, as such definition may be permissibly limited by this Section 16(e).

(f)    “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time.

(g)    “Company” shall mean Tractor Supply Company and, except in determining whether or not any Change in Control of the Company has occurred, shall include any successor to its business or assets which assumes and agrees to perform this Agreement by operation of law, or otherwise.

(h)    “Date of Termination” shall have the meaning set forth in Section 7(b) hereof.

(i)    “Disability” shall be deemed the reason for the termination by the Company of the Executive's employment, if, as a result of the Executive's incapacity due to physical or mental illness, the Executive shall have been absent from the full-time performance of the Executive's duties with the Company for a period of six (6) consecutive months, the Company shall have given the Executive a Notice of Termination for Disability, and, within thirty (30) days after such Notice of Termination is given, the Executive shall not have returned to the full-time performance of the Executive's duties.

(j)    “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

(k)    “Excise Tax” shall mean any excise tax imposed under Section 4999 of the Code.

(l)    “Executive” shall mean the individual named in the preamble to this Agreement.

(m)    “Good Reason” for termination by the Executive of the Executive's employment shall mean the occurrence (without the Executive's express written consent) after any Change in Control, of any one of the following acts by the Company, or failures by the Company to act, unless, in the case of any act or failure to act described below, such act or failure to act is corrected within the later of 30 days of the Company’s receipt of notice of Good Reason from the Executive or prior to the Date of Termination specified in the Notice of Termination given in respect thereof:

(i)    the assignment to the Executive of any duties materially inconsistent with the Executive's status as a senior executive officer of the Company or a material adverse alteration in the nature or status of the Executive's responsibilities from those in effect immediately prior to the Change in Control; 

(ii)    a material reduction by the Company in the Executive's annual base salary as in effect on the date hereof or as the same may be increased from time to time;

(iii)    the relocation of the Executive's principal place of employment to a location more than 50 miles from the Executive's principal place of employment immediately prior to the Change in Control or the Company's requiring the Executive to be based anywhere other than such principal place of employment (or permitted relocation thereof) except for required travel on the Company's business to an extent substantially consistent with the Executive's present business travel obligations;

(iv)    the failure by the Company to pay to the Executive any material portion of the Executive's current compensation, or to pay to the Executive any material portion of an installment 

11

of deferred compensation under any deferred compensation program of the Company, within seven (7) days of the date such compensation is due;

(v)    the failure by the Company to continue in effect any compensation plan in which the Executive participates immediately prior to the Change in Control which is material to the Executive's total compensation, unless an equitable arrangement (embodied in an ongoing substitute or alternative plan) has been made with respect to such plan, or the failure by the Company to continue the Executive's participation therein (or in such substitute or alternative plan) on a basis not materially less favorable, both in terms of the amount or timing of payment of benefits provided and the level of the Executive's participation relative to other participants, as existed immediately prior to the Change in Control; or

(vi)    the failure by the Company to continue to provide the Executive with benefits substantially similar to those enjoyed by the Executive under any of the Company's pension, savings, life insurance, medical, health and accident, or disability plans in which the Executive was participating immediately prior to the Change in Control (except for across the board changes similarly affecting all senior executives of the Company and all senior executives of any Person in control of the Company), the taking of any other action by the Company which would directly or indirectly materially reduce any of such benefits or deprive the Executive of any material fringe benefit enjoyed by the Executive at the time of the Change in Control, or the failure by the Company to provide the Executive with the number of paid vacation days to which the Executive is entitled in accordance with the Company's normal vacation policy in effect at the time of the Change in Control.  

The Executive's right to terminate the Executive's employment for Good Reason shall not be affected by the Executive's incapacity due to physical or mental illness. The Executive's continued employment shall not constitute consent to, or a waiver of rights with respect to, any act or failure to act constituting Good Reason hereunder.

(n)    “Notice of Termination” shall have the meaning set forth in Section 7(a) hereof.

(o)    “Person” shall have the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof, except that such term shall not include (i) the Company or any of its Affiliates, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its subsidiaries, (iii) an underwriter temporarily holding securities pursuant to an offering of such securities or (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.

(p)    “Retirement” shall be deemed the reason for the termination by the Executive of the Executive's employment if such employment is terminated in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees.

(q)    “Severance Payments” shall have the meaning set forth in Section 6(a) hereof.

(r)    “Term” shall mean the period of time described in Section 2 hereof (including any extension, continuation or termination described therein).

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

                

By:  /s/ Gregory A. Sandfort
Name: Gregory A. Sandfort
Title:   President and Chief Executive Officer

EXECUTIVE

Name: 

Address:

________________________________
(Please print carefully)

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