Document:

Safekeeping Agreement

 Exhibit 10(c) 
 

 
 INSTITUTIONAL CUSTODY 
 CUSTODIAL AGREEMENT 
 The undersigned account holder (referred to as “Customer”, even if more than one
holder signs below) hereby establishes a custodial account (“Account”) with Amegy Bank National Association. (“Custodian”). Customer designates Custodian, to serve as custodian of the Account; and makes the designations,
elections and declarations set forth below; and agrees to be bound by each of the provisions set forth in the terms and conditions of Custodial Agreement (this “Agreement”). Customer agrees that Custodian shall be entitled to treat the
title issue Account and any deposit account to and from which Custodian is directed to debit or credit with respect to transactions relating to the Account as being titled and styled the same as the Account with identical ownership interests
notwithstanding any joint account holders of such deposit account and Customer shall be solely responsible to account to any joint account holder as to such person’s interest in such deposit account. 
 1.1 Establish Custody Account by Custodian: 
 Securities will be held
at a depository selected by the Custodian and in the form required by the depository, which may include registration in a nominee name or in book entry form. If the securities held for the Customer are held in book entry form, ownership is recorded,
but tangible certificates are not issued. . Custodian will maintain records as to the number of securities owned by Customer and Custodian’s records will be kept on an account-by-account basis. Customer consents to the aggregation of purchases,
sales, and exchanges of securities by Custodian in the manner described above. Custodian will segregate all purchases, sales, and exchanges of securities in the Account on a transaction basis separate from all other purchases, sales, and exchanges.

 1.2 Customer Instructions: 
 Customer instructions are
to be made in writing and signed by Customer, but Custodian is entitled to accept and rely upon oral or unsigned instructions or directions and, in doing so, shall not be liable for executing any such instructions or directions which Custodian
believes to be genuine. Customer will furnish confirmation, in writing and signed by Customer, of previous oral or unsigned instructions or directions, if required. If more than one account holder signs below, Custodian is entitled to accept and
rely upon instructions given as aforesaid by any such account holder. If Customer is other than an individual, Customer hereby designates the person(s) whose authorized signature(s) appear hereon as the authorized agent or agents of Customer to
perform any and all acts contemplated herein on behalf of Customer, the authority of said agent or agents remaining in full force and effect until written notice of the termination of such authority shall have been delivered to Custodian by any one
of the person(s) whose signature(s) appear herein. 
 1.3 Custodian Reliance on Instructions: 
 Custodian will be fully protected in relying on and acting on any notice, instruction, direction, or approval, whether transmitted in writing, electronically, orally, or
otherwise, received from Customer, or any one of the person(s) whose signature(s) appear herein if Customer is not an individual or such additional person(s) who are designated to 

 
Custodian by any one of the person(s) whose signature(s) appear herein, and Custodian will be under no duty to make any investigation or inquiry with respect
to any such notice, instruction, direction, or approval received from Customer, or any one of the person(s) whose signature(s) appear herein if Customer is not an individual or such additional persons(s) who are designated to Custodian by any one of
the person(s) whose signature(s) appear herein. With respect to any instructions authorizing the receipt of securities in connection with transactions not placed through Custodian; Custodian shall have no duty to advise Customer of non-receipt of,
or to take steps to obtain delivery of, securities from third parties either against payment or free of payment. With respect to any instructions authorizing the delivery of securities in connection with transactions not placed through Custodian;
Custodian shall have no duty to meet the delivery date of the securities or, if payment is involved, credit Customer’s Account with proceeds, unless proper authorization is received by Custodian with a reasonable and sufficient amount of time
prior to the settlement date. 
 1.4 Pledged Securities: 
 In the event the securities covered by this Agreement are pledged, such securities are subject only to the order and direction of the pledgee. Pledged securities are subject to release by pledgee at all times. Substitution of pledged
securities is not permitted unless approved in writing in advance by pledgee. 
 1.5 Principal and Income Payments: 
 The Custodian will collect interest and other income from bearer securities and from securities registered in the Custodian’s nominee name that the Customer has
deposited in the Account. Unless instructed otherwise in writing, the Custodian will use its best efforts to collect principal at maturity and at dates of call for payment. The Custodian is under no obligation to present coupons or securities for
payment prior to their due date. The Custodian will have no liability for failure to collect principal and interest, due to failure of the obligor or payor of any securities held in the Account to make timely payment thereon, and will not be
obligated to institute or participate in any related legal proceedings. The Custodian has no duty in connection with the collection or payment of dividends on stocks or interest on bonds or other securities held in the Account and registered in a
name other than the Custodian’s nominee name. 
 1.6 Uncollectible Payments: 
 In the event Custodian advances proceeds of securities and credits them to Customer’s bank account prior to Custodian’s collection of such from a paying agent and Custodian does not receive such proceeds
from the paying agent within a reasonable time thereafter, said reasonable time to be determined by Custodian at Custodian’s sole discretion, Customer agrees to repay the credited proceeds upon Custodian’s demand, and Custodian shall have
the right, at any time and from time to time, and in any order, to debit the bank account referred to above, any other deposit account maintained by Customer with Custodian or the undersigned’s Custody Account, if necessary, to effect such
payment. 
 1.7 Limitations on Custodian Duties: 
 All
securities and proceeds of securities held by Custodian pursuant hereto shall be subject to the full and exclusive control of Customer, and the Custodian does not assume any obligation to review the securities held by it for the Customer, or to
supervise, advise or recommend to the Customer the purchase, retention, sale, exchange or deposit in reorganization or otherwise, at any time, unless provided for by a separate written agreement between the parties. 
 Custodian shall be responsible only as a gratuitous bailee, regardless of whether any compensation for its services is actually paid, and shall give Customer securities
in its custody the same degree of care and protection it gives its own securities of like kind and Customer agrees that Custodian shall only be liable for its own gross negligence or willful misconduct for failure to comply with the terms of this
Agreement. Custodian shall not be responsible for the genuineness, alteration or validity of any Customer securities, Custodian shall not be required to carry any form of insurance for the Account or securities, but Customer may carry for its own
account such insurance as Customer may deem necessary or desirable. 

 1.8 Account Statements: 
 On a monthly basis or upon Customer’s request, the Custodian will issue a statement of transaction activity and security position report for the Account Custodian will use endeavor to provide accurate reporting, however, reporting and
posting errors, including, but not limited to, errors in trade settlement instructions whether received via fax, electronic or orally, will be corrected to reflect what actually occurred in the marketplace, and Custodian will only be liable for
reporting and posting errors resulting from Custodian’s gross negligence or willful misconduct. Customer will be responsible for notifying Custodian of discrepancies in the activity and/or balances contained in the Account statement and such
discrepancies must be reported to Custodian in writing within thirty (30) days of the issuance of an Account statement. 
 1.9 Proxy Voting/Ownership
Communications: 
 Custodian will cause all proxies and other ownership communications issued by any company whose securities are held in the Account to
be mailed to Customer unless otherwise directed in writing by Customer. In addition to proxies, ownership communications include, but are not limited to, any consents, elections, instructions, directions, approvals and periodic reports provided by
an issuer. In the event Custodian does not receive a timely consent, election or any other action required of Customer by the cut-off time set by the depository, Custodian shall elect to “Take No Action” on behalf of Customer and shall not
be held liable for any losses incurred in doing so. Customer will have the sole responsibility for voting all proxies. Custodian shall be under no duty to determine how, or if, proxies are voted. Custodian shall be under no obligation to forward or
retain any other corporate material received by the Account unless required by law except to the extent outlined above. 
 1.10 No Direct Access to
Marketplace: 
 Customer by acceptance of the Agreement understands that Custodian does not provide direct access to the marketplace. Rather, Custodian
routes trade instructions to the appropriate depository for trade settlement and safekeeping. In the event Customer does not maintain a bank account other than the Account with Custodian, Customer must designate another form of payment to cover
purchase transactions. 
 1.11 Trade Cancellation: 
 Customer agrees that Custodian cannot guarantee that requests to cancel or modify trade instructions will be processed upon submission, and agrees that such trade instructions will not be effected unless Custodian has had sufficient time to
notify the appropriate depositories, agents or third parties, if warranted. Customer must notify Custodian of trade cancellations or modifications via fax, telephone or electronically, however, Customer should not assume that the trade cancellation
or modification was processed although received by Custodian, prior to the established cut-off time to effect a change in trade settlement. 
 If Customer
submits trade instructions, and makes any decision or takes any action in reliance upon such submission of a trade cancellation or modification, unless and until Customer has received notice of the cancellation or modification from Custodian,
Customer agrees that it does so at its own risk and agrees that it will in no way hold Custodian or any of Custodian’s agents or third parties responsible for any expenses or losses incurred in so doing. 
 1.12 Valuation Reporting: 
 Custodian reports the value of account
assets as accurately as possible using resources available to it, and believed to be reliable. Individual values for securities that have publicly-quoted prices are reported based solely on such quoted prices, which are obtained from a quotation
service or other source generally available to the public. Custodian does not guarantee the accuracy of prices obtained from quotation services, or the length of availability of such prices. The reported value of any asset may differ materially from
its actual value. Custodian does not guarantee the accuracy of reported values, or whether Customer will be able to obtain the value indicated on Customer’s Account statement in the event of a sale. 

 1.13 Payment of Fees: 
 Customer agrees to pay compensation for services, if any, to Custodian rendered hereunder, which compensation shall be in accordance with the fee schedule determined by Custodian from time to time. Custodian is authorized at
Custodian’s discretion to charge such compensation to Customer, on behalf of the undersigned’s custody Account activity. Custodian is also authorized to debit such Accounts for the costs of expenses of purchases and sales made upon the
instructions of Customer and /or other items chargeable in connection with the Account. 
 1.14 Accuracy of Representations: 
 Customer represents and warrants that it has supplied Custodian with accurate information in the account application, custodial agreement, new account application,
implementation form, instruction or any other written correspondence pertaining to the Account and no one except Customer listed has an interest in the Account. In addition, Customer agrees to notify Custodian, in writing if there is a change in the
facts set forth in the account information of the account application, or any other forms supporting the account application whenever any such information becomes inaccurate. 
 1.15 Joint Account Holders: 
 If there is more than one Account holder who signs this Agreement, each Account holder
is jointly and severally liable for obligations arising under this Agreement. Each joint Account holder, acting alone and without notice to any other Account holder, has the authority to deal with Custodian fully and completely. Custodian will
follow the instructions of any joint Account holder and Custodian will not be responsible for determining the purpose or propriety of any instruction received from any Account holder. Custodian reserves the right, but shall have no obligation, to
require written instructions from each Account holder, at Custodian’s discretion. Any notice sent to one Account holder that would be deemed to be notice to each Account holder. 
 1.16 Assignment and Successors: 
 Custodian may assign its rights and duties to any person or entity upon thirty
(30) days prior written notice to Customer. These terms and conditions are binding upon the heirs, executors, administrators, successors, assigns, and personal representatives of Customer and inure to the benefit of Custodian and its successors
and assigns. Customer may not, however, assign any rights or duties under this Agreement or any interest in Account to any third party without prior written consent of Custodian. 
 1.17 Amendment: 
 Custodian may modify or amend any of the terms and conditions of this Agreement upon thirty
(30) days prior written notice to Customer, but no such modification or amendment will affect obligations incurred by Customer prior to the effective date of such modification or amendment. 
 1.18 Termination of Custodian Agreement: 
 This Agreement is
terminable at the option of either Customer or Custodian upon sixty (60) days written notice to the other party. If there is more than one Account holder that signs this Agreement, any Account holder, acting alone will have authority to
terminate this Agreement. Custodian reserves the right to terminate this Agreement along with the Account and distribute the assets in the Account to Customer at any time and for any reason. Upon any termination, Custodian will distribute the assets
held in the Account per Customer’s transfer instructions and Customer will remain liable for any unpaid fees, debts, or other obligations incurred in connection with the Account. If there is more than one Account holder that signs this
Agreement, Custodian shall be entitled to distribute the assets in the Account to any such Account holder pursuant to the instructions of any such Account holder. 

 1.19 Applicable Laws, Rules and Regulations: 
 Custodian is authorized in the name and on behalf of the undersigned to execute any certificates of ownership or other reports, forms notices or statements which are or may hereafter be required by the Internal
Revenue Service (the “IRS”) or any other governmental authority or commission, so far as the same are required in connection with the securities or proceeds thereof. Accounts will not be established without a social security number,
employer identification number, or other applicable tax identification number (“TIN”). The TIN or social security number listed must belong to Customer identified in the ownership section of the registration, and must match IRS records to
avoid backup withholding. 
 1.20 Privacy: 
 Custodian
respects your financial privacy, and recognizes that confidentially is an important part of banking. Custodian’s Privacy Notice (herein so called) contains information regarding the ways in which nonpublic personal information about individuals
who obtain products and services primarily for personal, family or household purposes is safeguarded. If Customer is interested in knowing more about the Privacy Notice, including how to opt out from information sharing (other than as permitted by
law), there are several options available. Customer may visit Custodian’s web site at www.amegybank.com, visit a banking center location, or call customer service at 713-235-8800, and ask for a copy of the Privacy Notice. 
 1.21 Limitations: 
 Custodian shall not, and does not hereby
undertake, any duties except as expressly provided herein and no duties shall be implied. Custodian shall be under no duty to investigate or inquire as to the validity or accuracy of any document, agreement, instruction or request furnished to it
hereunder believed by it to be genuine and Custodian may rely and act upon, and shall not be liable for acting or not acting upon, any such document, agreement, instruction or request. Custodian shall not be liable for any action taken or omitted
unless and to the extent a court or arbitral body, as applicable, of competent jurisdiction determines that Custodian’s gross negligence or willful misconduct was directly and primarily the cause of any such loss by Customer. Custodian shall
have no liability for any act, omission or insolvency of any depository or third party provider. Custodian shall be entitled to consult with and rely upon the advice of legal counsel in the performance of its obligations hereunder and shall be fully
protected in doing so, all at the cost and expense of Customer. Custodian shall not be liable for special, indirect or consequential damage or loss even if Custodian shall have been advised of the probability thereof in advance. The provisions of
this paragraph shall survive the resignation or removal of Custodian and the termination of this Agreement. 
 1.22 Indemnification: 
 Customer assumes liability for, and agrees to indemnify, reimburse, save and keep harmless, Custodian, its affiliates and their officers, employees, successors, assigns,
attorneys and agents (each an “Indemnified Party”) from and against, any and all claims, liabilities, obligations, losses, damages, penalties, costs and expenses (including, but not limited to, reasonable attorneys fees and expenses) that
may be imposed on, incurred by, or asserted against, at any time, such Indemnified Party in any way relating to or arising out of the execution and delivery of this Agreement, the establishment of Account, the acceptance of deposits, the purchase or
sale of any securities, the retention of cash or any other proceeds thereof and any payment, transfer or other application of cash or any other proceeds in accordance with the provisions of this Agreement or as Customer may otherwise direct
Custodian, or as may arise by reason of any act, omission or error of Custodian including, but not limited to, any negligent acts or omissions, provided that Customer shall not be required to indemnify, reimburse, save and keep harmless Custodian
for any losses, damages or penalties that arise as a direct result of Custodian’s gross negligence or willful misconduct. The indemnities contained in this paragraph shall survive the resignation or removal of Custodian and the termination of
this Agreement. Customer hereby grants to Custodian a lien on, security interest in, and right of set-off against the Account and all other accounts with Custodian and the securities and proceeds for the payment of any amounts payable hereunder to
Custodian, including, but not limited to, for the payment of any claim for indemnification, compensation, expenses or other amounts due hereunder. 
 1.23
Counterparts: 
 This Agreement may be executed in one or more counterparts. Each counterpart shall be deemed an original and together shall constitute
one and the same document. 

 1.24 Force Majeure: 
 Custodian shall not be liable to Customer for any loss or damage arising out of any acts of God, strikes, equipment or transmission failure, war, terrorism, or any other acts or circumstances beyond the reasonable control of Custodian.

 1.25 Imaging:  
 Customer understands and agrees
that (a) Custodian’s document retention policy may involve the imaging of executed documents and the destruction of paper originals, and (b) Customer waives any right that it may have to claim that the imaged copies of the documents
are not originals. 
 1.26 Arbitration: 
 Customer
understands and agrees except as provided otherwise in this Agreement, all claims, disputes, controversies and other matters in question between the parties to this Agreement shall be settled by arbitration. Any arbitration will be conducted in
accordance with the Arbitration Procedure described below. 
 Binding Arbitration: 
 Notwithstanding any provision in any Documents (defined below) to the contrary, upon the request of either Customer or Custodian (each being collectively called the “parties” and individually called a
“party”), whether made before or after the institution of any legal proceedings, any action, dispute, claim or controversy of any kind (for example, whether in contract or in tort under statutory or common law, or legal or equitable) now
existing or hereafter arising between or among the parties in any way arising out of, pertaining to or in connection with (1) the agreement, document, or instrument in which this Agreement is contained, to which this agreement is attached or in
which it is incorporated by reference, or any related agreements, documents, or instruments (collectively, the “Documents”); (2) all past and present accounts including, without limitation, investment accounts, money market accounts
and deposit accounts (whether demand deposits or time deposits), time deposits, credits, safe deposit boxes, safekeeping agreements, services, or other transactions, contracts or agreements; or (3) any aspect of the past or present
relationships of the parties to the Documents, shall be resolved by mandatory and binding arbitration in accordance with the terms of this Agreement. The occurrence of any of the foregoing matters shall be referred to as a “Dispute”. Any
party to this Agreement may bring by summary proceedings (for example, a plea in abatement or motion to stay further proceedings) an action in court to compel arbitration of any Dispute. 
 Governing Rules: 
 Notwithstanding any provision in any Documents
to the contrary, all Disputes between the parties shall be resolved by mandatory and binding arbitration administered by the American Arbitration Association (the “AAA”) pursuant to the Federal Arbitration Act (Title 9 of the United States
Code) in accordance with this Agreement and the Commercial Arbitration Rules of the AAA. If Title 9 of the United States Code is inapplicable to any such claim or controversy for any reason, such arbitration shall be conducted pursuant to the Texas
General Arbitration Act and in accordance with this Agreement and the Commercial Arbitration Rules of the AAA. To the extent that any inconsistency exists between this Agreement and such statutes and rules, this Agreement shall control. Judgment
upon the award rendered by the arbitrators may be entered in and enforced by any court having jurisdiction and in accordance with the practice of such court; provided, however, that nothing contained herein shall be deemed to be a waiver by any part
that is a Bank of the protections afforded to it under The National Bank Act, the Texas Finance Code, or any other protection provided banks by laws of Texas or the United States. 

 No Waiver, Preservation of Remedies: 
 No provision of, nor the exercise of any rights under this Agreement shall limit the right of any party to employ other remedies, including, without limitation: (1) foreclosing against any real or personal
property, collateral or other security by the exercise of a power of sale under a deed of trust, mortgage, or other security agreement or instrument, or applicable law; (2) exercising self-help remedies (including, without limitation, set-off
rights); or (3) obtaining provisional or ancillary remedies such as, without limitation, injunctive relief, sequestration, attachment, garnishment, or the appointment of a receiver from a court having jurisdiction before, during, or after the
pendency of any arbitration. The institution and maintenance of an action for judicial relief, pursuit of provisional or ancillary remedies, or exercise of self-help remedies shall not constitute a waiver of the right of any party, including,
without limitation, the plaintiff, to submit any Dispute to arbitration nor render inapplicable the compulsory arbitration provisions hereof. In Disputes involving indebtedness or other monetary obligations, each party agrees that the other party
may proceed against all liable persons, jointly and severally, or against one or more of them, being less than all, without impairing rights against other liable persons. Nor shall a party be required to join any principal obligor or any other
liable persons (including, without limitation, sureties or guarantors) in any proceeding against a particular person. A party may release or settle with one or more liable persons as the party deems fit without releasing or impairing rights to
proceed against any persons not so released. 
 Arbitration Proceeding: 
 All statutes of limitation that would otherwise be applicable shall apply to any arbitration proceeding. Any attorney-client privilege and other protection against a disclosure of confidential information,
including, without limitation, any protection afforded the work-product of any attorney that could otherwise be claimed by any party, shall be available to and may be claimed by any such party in any arbitration proceeding. No party waives any
attorney-client privilege or any other protection against disclosure of confidential information by reason of anything contained in or done pursuant to or in connection with this Agreement. Any arbitration proceeding shall be conducted in Harris
County, Texas by a panel of three arbitrators, each having substantial experience and recognized expertise in the field or fields of the matter(s) in dispute. 
 Other Matters: 
 This Agreement constitutes the entire agreement of the parties with respect to its subject matter and supersedes all
prior discussions, arrangements, negotiations, and other communications on dispute resolution. The provisions of this Agreement shall survive any termination, amendment or expiration of the Documents unless (1) the provisions are amended or new
terms and provisions are incorporated as permitted in Texas Banking Act Art. 342-701, or (2) the parties otherwise expressly agree in writing. This Agreement may be amended, changed or modified only by the express provisions of a contract in
writing which specifically refers to this Agreement and which is either (1) the result of an amendment or incorporated of new terms and provisions as permitted by the Texas Banking Act, or (2) is signed by all the parties to the Documents.

 1.27 Entire Agreement: 
 THIS AGREEMENT,
TOGETHER WITH THE ACCOUNT APPLICATION AND SUPPORTING ACCOUNT FORMS CONTAIN THE ENTIRE AGREEMENT BETWEEN CUSTOMER AND CUSTODIAN, WITH RESPECT TO THE SUBJECT MATTER CONTAINED IN THIS AGREEMENT AND SUPERSEDES ALL PRIOR COMMUNICATIONS, WHETHER ORAL,
WRITTEN OR ELECTRONIC. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. Customer further acknowledges that custodial fees are charged in respect to this account, including (but not necessarily limited to) fees for custody and
administration, asset transfers and extraordinary services. Customer acknowledges receipt of this Agreement, Instructions and acceptance of all of its terms and conditions. Customer further acknowledges understanding and agreement to this Agreement,
terms and conditions, Privacy Notice, Arbitration Statement, Fees and all other provisions included with this Agreement. Customer evidences agreement and acceptance by execution of this Agreement on the date below. If any provision of this Agreement
is held to be invalid, void or unenforceable by reason of any law, rule, administrative order or judicial decision that determination shall not affect the validity of the remaining provisions of this Agreement. 

 1.28 Governing Law and Venue: 
 This Agreement shall be governed by and construed in accordance with the laws of the State of Texas, without regard to its conflicts of laws provisions. Any proceeding hereunder shall be brought in Federal court sitting in Harris County,
Texas. 
 [SIGNATURE PAGES FOLLOW] 
 Name(s) of Authorized Signer(s): 
  

							
	 L’Sheryl D. Hudson
	  		 	 /s/ L’Sheryl D. Hudson
	  	
	 Name (please print)
	  		 	Signature	  	
		  		 		  	
				
	 Brett Chiles
	  		 	 /s/ Brett Chiles
	  	
	 Name (please print)
	  		 	Signature	  	

  
 If additional space is needed to identify
Authorized Signers, please attach a letter of authorization identifying the additional individuals. 
 Signature of Authorized Signer(s):

  

									
	 X
	 	 /s/ L’Sheryl D. Hudson
	  	X	 	 /s/ Brett Chiles
	  	
		 		  		 		  	

  
  
 Accepted by: Amegy Bank National Association 
  

							
				
	 Valerie Newman
	  		 		  	
	Name Bank Officer	  		 		  	
		  		 		  	
				
	 /s/ Valerie Newman, V.P.
	  		 		  	
	Signature and Title	  		 		  	
		  		 		  	
				
	8/16/08	  		 		  	
	Date:	  		 		  	

  
  
 Please make a copy of the Custodial Agreement for your records.Amended Employment Agreement dated March 31, 2009

 Exhibit 10.1 
 AMENDED EMPLOYMENT AGREEMENT 
 This AMENDED EMPLOYMENT AGREEMENT (this “Agreement”) is made
and entered into as of March 31, 2009, between Asbury Automotive Group, Inc., a Delaware corporation (the “Company”), and Charles Oglesby, an individual resident of the State of Georgia (the “Executive”). 
 WHEREAS the Company and Executive entered in that certain Amended Employment Agreement (the “2007 Agreement”) effective as of May 4, 2007
and entered into an Amendment to the 2007 Agreement as of May 7, 2008; 
 WHEREAS, the Company and Executive now wish to amend and
restate the 2007 Agreement; 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and intending to be legally bound
hereby, the parties hereby agree as follows: 
 SECTION 1. Employment. The Company hereby employs Executive, and Executive accepts
employment by the Company, on the terms and conditions contained in this Agreement. 
 SECTION 2. Term. The employment of Executive
pursuant to the terms of this Agreement shall be effective as of May 4, 2007 (the “Effective Date”) and shall remain in effect until the third anniversary of the Effective Date (the “Initial Period”), provided that
commencing on the third anniversary of the Effective Date and on each anniversary thereafter (a “Renewal Date”), this Agreement shall automatically renew for additional one-year periods (each, a “Renewal Period”), unless either
party gives notice of non-renewal at least 60 days prior to the next Renewal Date or unless terminated pursuant to Section 16. The period of time between the Effective Date and the termination of this Agreement pursuant to its terms is herein
referred to as the “Term”. 
 SECTION 3. Duties and Extent of Service. (a) During the Term, Executive shall serve as
Chief Executive Officer and President of the Company and, in addition, in such other executive capacity or capacities for the Company, as may be commensurate with Executive’s seniority and experience and as determined by the Company’s
Board of Directors (the “Board”). During the Term, the Company shall use its reasonable best efforts to ensure that Executive is re-elected as a director of the Company, and Executive agrees to serve in such capacity without additional
compensation. 
 (b) Executive shall report directly and exclusively to the Board and no other executive officer shall be appointed with
authority over the business operations of the Company superior to that of Executive. 

 (c) Executive shall perform such services and duties for the Company as are customarily performed by an
executive in Executive’s position at a business such as the Company’s business and as the Board may assign or delegate to him from time to time. Executive shall devote his full business knowledge, skill, time and reasonable best efforts
exclusively to the performance of his duties for the Company and the promotion of its interests; provided, however, that Executive shall be entitled to (i) engage in civic and charitable activities, (ii) manage passive
personal investments, and (iii) with the consent of the Board (which shall not be unreasonably withheld), serve on the board of directors of corporations not in competition with the Company; provided further that none of the
foregoing activities shall, individually or in the aggregate, interfere with Executive’s ability to devote the requisite time and effort to the performance of his duties and responsibilities under this Agreement. Executive’s duties
hereunder shall be performed at such place or places as the interests, needs, businesses or opportunities of the Company shall require, as the Board may determine from time to time. The Board may determine that Executive shall perform some or all of
his duties primarily at the Company’s corporate headquarters, and the Company and Executive agree that any such determinations by the Board shall constitute a material term of Executive’s duties under this Agreement. 
 SECTION 4. Base Salary. During the Term, Executive shall be paid a base salary (the “Base Salary”) at a rate of $825,000 per annum,
payable in arrears in equal monthly installments. On or before May 1, 2008 and annually thereafter, the Board shall review Executive’s Base Salary at the same time as the salaries of other members of the corporate office are reviewed and
may increase (but not decrease) his then current Base Salary in its sole discretion. 
 SECTION 5. Incentive Compensation.
(a) For the year 2007 and each year during the remainder of the Term, Executive shall be eligible to earn an annual bonus pursuant to the Company’s Key Executive Incentive Compensation Plan (or an applicable successor plan), on a calendar
year basis, of 100% of his then current Base Salary (“Target Bonus”), and such additional amounts which may be payable under the Company’s incentive compensation plans as they may be maintained by the Company, in the Board’s
discretion, from time to time, which amounts shall be payable if the Company achieves specified objectives (the “Targets”) established by the Compensation Committee no later than the 90th day of each such year. The Compensation Committee
of the Board (the “Compensation Committee”) shall certify whether the relevant Targets have been achieved and, based on such certification, shall thereafter determine the actual bonus earned by Executive with respect to the year described
in the preceding sentence no later than 30 days after delivery to the Board of audited financial statements for the Company for the relevant calendar year. Such Targets shall be substantially similar to those Targets established for purposes of
computing annual bonuses for other corporate office senior executives. Executive’s annual bonus shall be paid in a lump sum cash payment no later than the fifteenth day of the third month following the tax year containing the last day of bonus
performance period. 
 (b) For the year 2007 and each year during the remainder of the Term, Executive shall be eligible to participate in
the equity and other long term incentive compensation plans as the Company shall maintain for the benefit of corporate office senior executives generally, on the terms and subject to the conditions set forth in such plans. 
  

 2 

 SECTION 6. Fringe Benefits. During the Term, Executive shall be entitled to participate, to the
extent eligible, in such medical, dental, disability, life insurance, deferred compensation and other benefit plans as the Company shall maintain for the benefit of corporate office senior executives generally, on the terms and subject to the
conditions set forth in such plans. 
 SECTION 7. Expenses; Vacation; Automobile; Relocation Assistance. Upon the receipt from
Executive of expense vouchers and other documentation reasonably requested by the Company, the Company shall reimburse Executive promptly in accordance with the Company’s policies and procedures for all reasonable expenses incurred by Executive
in connection with Executive’s duties and responsibilities hereunder. During the Term, Executive shall be entitled to an automobile allowance of $2,000 per month. Executive shall be entitled to four weeks paid vacation per year. During the
first year of the Term, the Company shall provide Executive with the use of an apartment in the city in which the Company’s headquarters is then located if Executive shall need such use; the cost of such apartment shall not exceed the cost of
the apartment currently maintained by the Company for the business use of its executives, unless any additional cost is approved by the Board. After the first year of the Term, the Company shall review its relocation assistance policies with respect
to Executive if Executive shall then desire relocation assistance. 
 SECTION 8. Noncompete and Nonsolicitation. (a) During the
Term and for two year thereafter, Executive shall not directly or indirectly (other than as an employee of or consultant to the Company) accept employment with, or render services to, any Competing Business (defined below) or solicit business on
behalf of any Competing Business from any customers or clients of the Company or its affiliates. 
 (b) During the Term and for one year
thereafter, Executive shall not directly or indirectly (other than as an employee of or consultant to the Company) solicit, recruit or hire any employee of the Company (or any person who was an employee of the Company during the 12 month period
preceding Executive’s date of termination) or encourage any such employee to terminate employment with the Company. 
 (c) For
purposes of this Agreement, “Competing Business” means any corporation, partnership, sole proprietorship or other entity that engages in activities or businesses within the United States that are substantially in competition with the
Company or any of its controlled affiliates. 
 (d) Notwithstanding anything to the contrary contained in this Agreement, the Company
hereby agrees that the foregoing covenant shall not be deemed breached as a result of the passive ownership by Executive of: (i) less than an aggregate of 5% of any class of stock of a Competing Business; provided, however, that
such stock is listed on a national securities exchange or is quoted on the National Market System of NASDAQ; or (ii) less than an aggregate of 10% in value of any instrument of indebtedness of a Competing Business. 
  

 3 

 (e) Notwithstanding anything to the contrary contained in this Agreement, the Company hereby agrees that
the foregoing covenant shall not be deemed breached as a result of the ownership and operation by Executive of an automobile dealership after the termination of Executive’s employment with the Company if and only if (i) the Company shall
never have owned such dealership or shall not be considering acquiring such dealership as of the date of Executive’s termination of employment, (ii) such dealership is not located within 50 miles of any dealership which is owned by the
Company or which the Company is considering acquiring as of the date of Executive’s termination of employment, (iii) such dealership shall not employ any employee of the Company (or any person who was an employee of the Company during the
12 month period preceding Executive’s date of termination) and (iv) such ownership or operation does not violate any agreement between the Company and any manufacturer or distributor of motor vehicles or any policy of any such manufacturer
or distributor. 
 (f) If a judicial determination is made that any of the provisions of this Section 8 constitutes an unreasonable
or otherwise unenforceable restriction against Executive, the provisions of this Section 8 shall be rendered void only to the extent that such judicial determination finds such provisions to be unreasonable or otherwise unenforceable. Moreover,
notwithstanding the fact that any provision of this Section 8 is determined not to be specifically enforceable, the Company shall nevertheless be entitled to recover monetary damages as a result of Executive’s breach of such provision.

 (g) Executive agrees that the provisions of this Section 8 are reasonable and properly required for the adequate protection of
the business and the goodwill of the Company. 
 SECTION 9. Nondisclosure. (a) The parties hereto agree that during the course of
his employment by the Company, Executive will have access to, and will gain knowledge with respect to, the Company’s Confidential Information (defined below). The parties acknowledge that unauthorized disclosure or misuse of such Confidential
Information would cause irreparable damage to the Company. Accordingly, Executive agrees to the nondisclosure covenants in this Section 9. Executive represents that his experience and capabilities are such that the provisions of Section 8
and this Section 9 will not prevent him from earning his livelihood. Executive agrees that he shall not (except as may be required by law), without the prior written consent of the Company during his employment with the Company under this
Agreement, and any extension or renewal hereof, and thereafter for so long as it remains Confidential Information, use or disclose, or knowingly permit any unauthorized person to use, disclose or gain access to, any Confidential Information;
provided, however, that Executive may disclose Confidential Information to a person to whom disclosure is reasonably necessary or appropriate in connection with the performance by Executive of his duties under this Agreement. Upon
termination of this Agreement for any reason, Executive shall return to the Company the original and all copies of all 

  

 4 

 
documents and correspondence in his possession relating to the business of the Company or any affiliate, including but not limited to all Confidential
Information, and shall not be entitled to any lien or right of retention in respect thereof. 
 (b) For purposes of this Agreement,
“Confidential Information” shall mean all business information (whether or not in written form) which relates to the Company, any of its affiliates or their respective businesses or products or services and which is not known to the public
generally, including but not limited to technical information or reports; trade secrets; unwritten knowledge and “know-how”; operating instructions; training manuals; customer lists; customer buying records and habits; product sales
records and documents, and product development, marketing and sales strategies; market surveys; marketing plans; profitability analyses; product cost; long-range plans; information relating to pricing, competitive strategies and new product
development; information relating to any forms of compensation and other personnel-related information; contracts; and supplier lists. Notwithstanding anything herein to the contrary, “Confidential Information” shall not include any
information that (i) at the time of Executive is made aware of such information, is generally available to the public, (ii) after Executive becomes aware of such information, becomes generally available to the public through no act or
omission of Executive or (iii) is made available to Executive by a person (other than the Company, its affiliates or their respective directors or officers) who did not breach any confidentiality obligations to the Company or its affiliates in
disclosing such information to Executive. 
 SECTION 10. Severance. (a) Subject to Section 11 and to Executive’s
execution, delivery and non-revocation of a general release substantially in the form attached hereto as Exhibit “A” (the “Release”), if a Termination of Executive’s employment occurs at any time during the Term,
(i) the Company shall continue to pay Executive compensation for the next twelve months on regular payroll dates at twice the rate of Base Salary in effect as of the date of Termination, such compensation totaling over the twelve month period
two (2) times Executive’s Base Salary in effect as of the date of Termination, (ii) following the first anniversary of the date of Termination the Company shall pay Executive an amount equal to 200% of the Base Salary in effect as of
the date of Termination, such amount to be paid in equal payments on regular payroll dates over the next twelve months and (iii) beginning on the date of Termination the Company shall pay Executive an amount equal to the Executive’s Base
Salary in effect as of the date of Termination, multiplied by the percentage of the calendar year of the termination that has lapsed through the date of Termination, such amount to be paid in equal payments on regular payroll dates over the next
twenty four months. The compensation payable under this subsection (a) shall be subject to any required tax withholding and shall not begin until the eighth day after Executive’s delivery of the executed Release to the Company provided
that Executive shall have not previously revoked the Release. One half of each payment shall constitute “Severance Pay” and one half shall constitute “Covenant Pay. Notwithstanding any other provision of this Agreement, in no event
shall the payments provided for in this Section 10(a) exceed an amount equal to 250% of the sum of the Executive’s Base Salary and Target Bonus in effect as of the date of Termination. 
  

 5 

 (b) Subject to Executive’s execution, delivery and non-revocation of the Release, Executive
shall also be entitled for 24 months following the date of Termination to continue to participate at the same level of coverage and Executive contribution in any health, dental, disability and life insurance plans, as may be amended from time to
time, in which Executive was participating immediately prior to the date of Termination. Such participation will terminate 30 days after Executive has obtained other employment under which Executive is covered by equal benefits. Executive agrees to
notify the Company promptly upon obtaining such other employment. At the option of Executive, COBRA coverage will be available, as provided by law and/or Company policy, at the termination of extended benefits as provided above. 
 (c) If Executive shall die following his Termination, the payments and benefits provided under this Section 10 shall continue to be paid and/or
provided to his estate. 
 (d) In the event of Executive’s Termination, all stock options granted to Executive under the 2002 Equity
Plan on or before the Effective Date that are outstanding on the date of Termination shall automatically become vested and exercisable and shall remain exercisable for two years following the date of Termination or until their expiration pursuant to
the terms of the applicable stock option award agreement, whichever is earlier. Upon Executive’s Termination, all Performance Awards granted to Executive under the 2002 Equity Plan on or before the Effective Date shall be treated as provided in
the Performance Share Unit Award Agreement as if Executive’s employment is Terminated by the Company involuntarily (other than for cause) immediately following a Change in Control, except that if Executive’s Termination occurs after the
Committee determines that the Performance Goals have been attained but before the Payment Date (determined as though there is no Change in Control) the Performance Awards shall be treated and paid as if Executive continued to be employed by the
Company through the Payment Date (determined as though there is no Change in Control). All shares of Restricted Stock granted to Executive on or before the Effective Date and any deferred compensation granted to Executive shall automatically be
vested. The provisions of this paragraph shall be deemed incorporated by reference into Executive’s stock option award, Performance Award, Restricted Stock award and deferred compensation agreements accordingly. 
 SECTION 11. Change in Control. (a) In the event that a Termination (as defined below) occurs at any time within two years after a Change of
Control, as defined herein, subject to Executive’s execution, delivery and non-revocation of the Release, the Company will pay Executive all of the benefits and compensation provided in Section 10, except that the Covenant Pay and the
Severance Pay shall be paid in a lump-sum payment on the eighth day after Executive’s delivery of the executed Release to the Company, provided that Executive shall not have revoked the Release. 
 (b) For purposes of this Agreement, “Change of Control” shall mean an event or series of events, not including any events occurring prior to or
in connection with an initial public offering of Shares (including the occurrence of such initial public offering), by which: 
  

	 	(i)	during any period of 12 consecutive calendar months, individuals whose appointment or election for election to the Board was not endorsed by a majority of the Board before the date
of the appointment or election shall cease to constitute a majority of the Board; 

  

 6 

	 	(ii)	the consummation of a merger, consolidation, statutory share exchange or similar form of corporate transaction involving the Company or any of its Subsidiaries (a
“Reorganization”) or sale or other disposition of all or substantially all of the assets of the Company to an entity that is not an affiliate of the Company (a “Sale”), that in each case requires the approval of the
Company’s stockholders under the law of the Company’s jurisdiction of organization, whether for such Reorganization or Sale (or the issuance of securities of the Company in such Reorganization or Sale), unless immediately following such
Reorganization or Sale 50% or more of the total voting power (in respect of the election of directors, or similar officials in the case of an entity other than a corporation) of (A) the entity resulting from such Reorganization, or the entity
which has acquired all or substantially all of the assets of the Company (the “Surviving Entity”), or (B) if applicable, the ultimate parent entity that directly or indirectly has beneficial ownership of 50% or more of the total
voting power (in respect of the election of directors, or similar officials in the case of an entity other than a corporation) of the Surviving Entity (the “Parent Entity”), is represented by the Company’s outstanding securities
eligible to vote for the election of the Board (the “Company Voting Securities”) that were outstanding immediately prior to such Reorganization or Sale (or, if applicable, is represented by shares into which such Company Voting Securities
were converted pursuant to such Reorganization or Sale), and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the
Reorganization or Sale; 

  

	 	(iii)	 any “person” (as such term is defined in Section 13(d) of the Exchange Act (or any successor section thereto)), corporation or other entity (other
than (A) the Company, (B) any trustee or other fiduciary holding securities under an employee benefit plan of the Company or an Affiliate, (C) any company owned, directly or indirectly, by the stockholders of the Company in
substantially the same proportions as their ownership of Shares or (D) any entity or individual affiliated with (x) Ripplewood Holdings L.L.C. or (y) Freeman Spogli & Co. Incorporated, or their affiliates), becomes the
“beneficial owner” (as such term is defined in Rule 13d-3 under the Exchange Act (or any 

  

 7 

	 	 
successor rule thereto)), directly or indirectly, of securities of the Company representing 30% or more of the combined voting power of the Company’s
then-outstanding securities.

 (c) In the event of a Change of Control, all stock options theretofore granted to Executive
under the 2002 Equity Plan (i) shall, to the extent then outstanding and unexercisable or unvested immediately prior to the Change of Control, automatically be deemed exercisable and/or vested, as the case may be, and (ii) to the extent
such stock options remain outstanding at or following such Change of Control (including by means of assumption or substitution), such stock options shall remain exercisable for no less than a two-year period commencing on the date of the Change of
Control subject to earlier expiration of the stock options pursuant to the terms of the 2002 Equity Plan or the applicable stock option award agreement; provided, however, that any such stock options shall not expire prior to the end of such
two-year period solely as a result of the termination of Executive’s employment. The accelerated vesting and exercisability and extended two-year exercise period provisions described in the preceding sentence shall apply with respect to stock
options held by Executive granted under any successor stock option plan of the Company, if any, to the extent a change of control or similar occurrence occurs under such successor stock option plan (or, if such successor plan does not contain a
“change of control” or similar provision, to the extent a Change of Control occurs after the grant of the applicable stock option). The provisions of this paragraph shall be deemed incorporated by reference into Executive’s stock
option award agreements accordingly. Upon a Change of Control, all Performance Unit awards granted to Executive under the 2002 Equity plan shall be treated as set forth in the Performance Unit award agreement and the termination of Executive’s
employment for Good Reason or any reason during the 30 day period commencing on the first anniversary of a Change of Control shall be treated as an involuntary termination by the Company, and all shares of Restricted Stock, all Restricted Stock
Units and any deferred compensation granted to Executive shall automatically be vested. 
 (d) If Executive shall die following a Change of
Control, Executive shall be deemed to have been terminated without cause as of the date of his death and the payments and benefits provided under this Section 11 shall continue to be paid and/or provided to his estate. 
 SECTION 12. Definitions. (a) For purposes of Sections 10 and 11, “Termination” means (i) termination of Executive’s
employment by the Company for any reason, except (A) death, (B) “Disability” (as defined below), (C) “Retirement” (as defined below) or (D) “Cause” (as defined below) or (ii) termination of
Executive’s employment by Executive for “Good Reason” (as defined below) within 120 days after the occurrence of the event constituting Good Reason, provided that Executive has provided written notice to the Board of the existence of
the event constituting Good Reason within 90 days after its initial existence and has given the Company at least 30 days after the receipt of such notice to cure such Good Reason. 
  

 8 

 (b) The definition of “Disability” is Executive’s physical or mental disability or
infirmity that prevents the performance by Executive of his duties lasting (or likely to last, based on competent medical evidence presented to the Company) for a continuous period of six months or longer. 
 (c) The definition of “Retirement” is the termination of Executive’s employment at the end of the Initial Period or during any Renewal
Period, by the Company or by Executive, other than by reason of Executive’s Disability or death or by the Company for Cause, provided that if Executive elects to terminate his employment and retire, he shall have provided the Board with at
least 90 days prior written notice of his intention to retire and, to the extent he is reasonably able, shall have assisted the Board in identifying a successor and transitioning Executive’s duties to such successor. After Executive’s
notice of intention to retire, the Company shall not terminate Executive’s employment except for cause. 
 (d) The definition of
“Cause” is: (i) Executive’s gross negligence or serious misconduct (including without limitation any criminal, fraudulent or dishonest conduct) that is injurious to the Company or any of its affiliates; (ii) Executive’s
being convicted of, or entering a plea of nolo contendere to, any crime that constitutes a felony or involves moral turpitude; (iii) Executive’s breach of Sections 8 or 9; or (iv) Executive’s willful and continued failure to
perform substantially Executive’s duties with the Company that is not corrected within thirty days after delivery of written notice to Executive by the Company, provided that Executive shall not be entitled to the opportunity to correct
more than one such failure and provided, further, that the Company shall be required to provide Executive with written notice of the basis upon which it has determined that Cause exists. 
 (e) The definition of “Good Reason” is: (i) the involuntary reduction of Executive’s Base Salary, (ii) the involuntary
relocation of the Company’s headquarter in Duluth, Georgia to a location more than 50 miles away from any location in which the Company maintains an office as of the Effective Date, (iii) the involuntary and material diminution of
Executive’s duties or job title that is not corrected within thirty days after delivery of written notice to the Company by Executive or (iv) the Company’s breach of any material provision of this Agreement, provided that
notwithstanding any other provision of this Agreement, (x) it shall not constitute a diminution of Executive’s duties or job title under this Agreement for the Board to designate a potential successor for the position of Chief
Executive Officer and/or to name such a person as President of the Company and/or to assign some portion of Executive’s duties to such person and (y) it shall constitute a material diminution of Executive’s duties under this Agreement
if as a result of a Change of Control the Executive ceases to be the Chief Executive Officer of a publicly held company.  
 SECTION
13. Retirement. (a) In the event of Executive’s Retirement, all stock options theretofore granted to Executive under the 2002 Equity Plan (i) shall, to the extent then outstanding and unexercisable or unvested immediately prior
to Executive’s Retirement Date, automatically be deemed exercisable and/or vested, as the case may be, and (ii) to the extent such stock options remain outstanding at or following such Retirement (including by means of assumption or
substitution after a Change of Control), such stock options shall remain exercisable for no less than a two-year period commencing on the date 

  

 9 

 
of the Retirement subject to earlier expiration of the stock options pursuant to the terms of the 2002 Equity Plan or the applicable stock option award
agreement. The accelerated vesting and exercisability and extended two-year exercise period provisions described in the preceding sentence shall apply with respect to stock options held by Executive granted under any successor stock option plan of
the Company. Upon Executive’s Retirement, all Performance Unit awards granted to Executive under the 2002 Equity plan shall be treated as set forth in the applicable Performance Unit award agreement as if Executive’s employment had been
involuntarily terminated without cause on the date of Executive’s Retirement following a Change of Control, except that if the Retirement occurs prior to the first anniversary of the Performance Commencement Date with respect to any Performance
Unit award, the performance results shall be determined as though the Change of Control had occurred after the first anniversary of the Performance Commencement Date and the points achieved during any completed months during the relevant performance
period shall be annualized and multiplied by three for purposes of determining the level of achievement on the cumulative three-year point scale with respect to the Performance Unit award, and all shares of Restricted Stock, all Restricted Stock
Units and any deferred compensation granted to Executive shall automatically be vested. The provisions of this paragraph shall be deemed incorporated by reference into Executive’s stock option award, Performance Unit award, Restricted Stock
award, Restricted Stock Unit award and deferred compensation agreements accordingly. 
 (b) In addition, in the event of Executive’s
Retirement the Company shall pay Executive additional compensation (the “Retirement Pay”) as follows: (i) the Company shall continue to pay Executive compensation for the next twelve months on regular payroll dates at twice the rate
of Base Salary in effect as of the date of Retirement, such compensation totaling over the twelve month period two (2) times Executive’s Base Salary in effect as of the date of Termination, (ii) following the first anniversary of the
date of Retirement the Company shall pay Executive an amount equal to 200% of the Executive’s Base Salary in effect as of the date of Retirement, such amount to be paid in equal payments on regular payroll dates over the next twelve months and
(iii) beginning on the date of the Executive’s Retirement the Company shall pay Executive an amount equal to the Executive’s Base Salary in effect as of the date of Retirement multiplied by the percentage of the calendar year of the
retirement that has lapsed through the date of Retirement, such amount to be paid in equal payments over the twenty four month period beginning on the date of Retirement. Notwithstanding any other provision of this Agreement, in no event shall the
payments provided for in this Section 13(b) exceed an amount equal to 250% of the sum of the Executive’s Base Salary and Target Bonus in effect as of the date of Retirement. 
 (c) In addition, in the event of Executive’s Retirement, Executive shall be eligible to participate at the same level of coverage and Executive
contribution to any health, dental, disability and life insurance plans, as may be amended from time to time, in which Executive was participating immediately prior to Retirement. Eligibility for such participation shall terminate once Executive has
obtained other employment or until December 31 of the second calendar year following the year in which the Retirement occurs, whichever occurs first. Executive agrees to promptly notify the Company upon obtaining such other employment.

  

 10 

 (d) If Executive shall die following his Retirement, the payments and benefits provided under this
Section 13 shall continue to be paid and/or provided to his estate. 
 SECTION 14. Payment of Accrued Obligations. Upon
termination of Executive’s employment with the Company for any reason, the Company shall pay Executive (or his estate, in the event of his death) Executive’s Base Salary earned through the date of termination, any annual bonus earned by
Executive with respect to any prior calendar year which has not been paid as of the date of termination and any vacation pay earned by Executive which has not been paid as of the date of termination and shall pay any accrued benefits under any
Company benefit plan pursuant to the terms of such plan. 
 SECTION 15. Parachute Payment Limitation. (a) Notwithstanding
anything in this Agreement to the contrary, if any severance pay or benefits payable under this agreement (without the application of this Section 15), either alone or together with other payments, awards, benefits or distributions (or any
acceleration of any payment, award, benefit or distribution) pursuant to any agreement, plan or arrangement with the Company or any of its affiliates (the “Total Payments”), would constitute a “parachute payment” (as defined in
Section 280G of the U.S. Internal Revenue Code of 1986, as amended, and regulations thereunder (the “Code”)), then the following shall occur: 
 (i) Company’s independent auditors (the “Auditor”) shall compute the net present value to Executive of all the Total Payments after reduction for the excise taxes imposed by Code Section 4999 and
for any normal income taxes that would be imposed on Executive if such Total Payments constituted Executive’s sole taxable income; and 
 (ii) The Auditor shall next compute the maximum Total Payments that can be provided without any such Total Payments being characterized as “Excess Parachute Payments” (as defined in Code Section 280G) and reduce the result by
the amount of any normal income taxes that would be imposed on Executive if such reduced Total Payments constituted Executive’s sole taxable income. 
 (b) If the result derived in clause (i) above is greater than the result derived in clause (ii) above, then the Company shall pay Executive the full amount of the Total Payments without reduction. If the
result derived from clause (i) above is not greater than the result derived in clause (ii) above, then the Company shall pay Executive the maximum Total Payments possible without any such Total Payments being characterized as Excess
Parachute Payments. The determination of how such Total Payments will be reduced shall be made by Executive in good faith after consultation with the Company. 
 SECTION 16. Termination; Survival. This Agreement shall terminate upon the death of Executive and may be terminated (a) by the Company (i) upon the Disability of Executive, (ii) for Cause or
(iii) for any other reason upon 60 days notice to Executive or (b) by Executive upon the Disability of Executive or for any reason upon 60 days written notice to the Company. Notwithstanding the foregoing, if Executive’s employment
terminates in a manner giving rise to a payment or benefit under Section 10, 11, 13, or 14, such Sections shall survive the termination of this Agreement. 
  

 11 

 SECTION 17. Validity. The invalidity or unenforceability of any provision or provisions 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. 
 SECTION 18. Resolution of Disputes. Any disputes arising under or in connection with this Agreement shall be resolved by third party mediation of the dispute and, if such dispute is not resolved within 30 days, by binding
arbitration, to be held in or near the city in which the Company maintains its corporate headquarters at the time of the dispute, in accordance with the rules and procedures of the American Arbitration Association. Judgment upon the award rendered
by the arbitrator(s) may be entered in any court having jurisdiction thereof. Each party shall bear his or its own costs of the mediation, arbitration or litigation. 
 SECTION 19. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

 SECTION 20. Withholding. All payments hereunder shall be subject to any required withholding of Federal, state and local taxes
pursuant to any applicable law or regulation. 
 SECTION 21. Section Headings. The section headings in this Agreement are for
convenience of reference only, and they form no part of this Agreement and shall not affect its interpretation. 
 SECTION 22. Internal
Revenue Code Section 409A. (a) If any provision of this Agreement (or of any award of compensation, including equity compensation or benefits) would cause Executive to incur any additional tax or interest under Section 409A of the
Code or any regulations or Treasury guidance promulgated thereunder, the Company shall, after consulting with Executive, reform such provision to comply with Section 409A of the Code, provided that the Company agrees to maintain, to the maximum
extent practicable, the original intent and economic benefit to Executive of the applicable provision without violating the provisions of Section 409A of the Code. 
 (b) Notwithstanding any provision to the contrary in this Agreement, if Executive is deemed on the date of Termination or Retirement, as applicable, to be a “specified employee” within the meaning of that
term under Section 409A(a)(2)(B) of the Internal Revenue Code of 1986, as amended (the “Code”), then with regard to any payment or the provision of any benefit that is required to be delayed in compliance with section 409A(a)(2)(B) of
the Code such payment or benefit shall not be made or provided (subject to the last sentence hereof) prior to the earlier of (A) the expiration of the six (6)-month period 

  

 12 

 
measured from the date of his “separation from service” (as such term is defined under Section 409A of the Code) or (B) the date of his
death (the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this section (whether they would have otherwise been payable in a single sum or in installments in the absence of such
delay) shall be paid or reimbursed Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. Notwithstanding the
foregoing, to the extent that the foregoing applies to the provision of any ongoing welfare benefits to Executive that would not be required to be delayed if the premiums therefore were paid by Executive, Executive shall pay the full cost of
premiums for such welfare benefits during the Delay Period and the Company shall pay Executive an amount equal to the amount of such premiums paid by Executive during the Delay Period promptly after its conclusion. 
 (c) To the extent permitted under Treasury Reg.§1.401A-2(b), the Company and Executive designate all payments that may be due Executive under
Section 10 (Severance) or 13 (Retirement) to be treated as separate payments and not as installment payments. 
 (d) Neither the Company
nor Executive shall either accelerate or delay any payment due under this Agreement that constitutes “nonqualified deferred compensation” within the meaning of Section 409A except to the extent permitted under Section 409A or
regulations or Treasury guidance promulgated thereunder. 
 SECTION 23. Miscellaneous. (a) This Agreement shall inure to the
benefit of and shall be binding upon Executive and his executor, administrator, heirs, personal representative and permitted assigns, and the Company and its successors and permitted assigns. Neither this Agreement nor any rights or obligations
hereunder may be assigned by one party without the consent of the others, except that this Agreement shall be binding upon and inure to the benefit of any successor or successors of the Company whether by merger, consolidation, sale of assets or
otherwise and reference herein to the Company shall be deemed to include any such successor or successors. 
 (b) Executive represents and
warrants that (i) he is not subject to any agreement, understanding or limitation that could hinder or impair Executive’s ability to perform his duties hereunder and (ii) Executive’s entry into, and performance of his obligations
under, this Agreement will not interfere or otherwise violate any other agreement to which Executive is a party or is bound. 
 (c) This
Agreement shall be deemed to be made in, and in all respects shall be interpreted, construed and governed by and in accordance with, the laws of the State of New York, without regard to the conflicts of law principles of such State. No provision of
this Agreement or any related document shall be construed against or interpreted to the disadvantage of any party hereto by any court or other governmental or judicial authority by reason of such party having or being deemed to have structured or
drafted such provision. 
  

 13 

 (d) This Agreement constitutes the entire agreement between the Company and Executive with respect to
Executive’s employment by the Company and supersedes all prior agreements, if any, whether written or oral, between them, relating to Executive’s employment by the Company, including, without limitation, the 2006 Agreement. Notwithstanding
the foregoing, this Agreement does not supersede (except to the extent expressly provided herein) any of the terms or conditions of any stock option grants, the Performance Share Unit Award Agreement between Executive and Company or any other
similar agreements governing incentive compensation or stock grants that were entered into prior to the date hereof. This Agreement may not be changed, waived, discharged or terminated orally, but only by an instrument in writing, signed by the
party against which enforcement of such change, waiver, discharge or termination is sought. 
 (e) All notices and other communications
required or permitted hereunder shall be in writing and shall be deemed given when (a) delivered personally, (b) sent by certified or registered mail, postage prepaid, return receipt requested or delivered by overnight courier (provided
that a written acknowledgment of receipt is obtained by the overnight courier) to the party concerned at the address indicated below or to such changed address as such party may subsequently give such notice of: 
  

 14 

			
	If to the
Company	  	 Asbury Automotive Group Inc.
 attn. General Counsel

		
		  	 2905 Premiere Parkway, Suite 300
 Duluth,
GA 30097

		
	If to
Executive	  	Charles Oglesby
		
	With a
copy to:	  	 Rebecca Northey
 Menaker & Herrmann
 10 East 40th Street
 New York, New York 10016

  

 15 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and
year first above written. 
  

			
	 ASBURY AUTOMOTIVE GROUP, INC.,

		
	 By:
	 	 /s/ Philip R. Johnson

	 Name:
	 	Philip R. Johnson
	 Title:
	 	Vice President, Human Resources
		
		 	 /s/ Charles Oglesby

		 	Charles Oglesby

  

 16 

 Exhibit “A” 
 GENERAL RELEASE 
 This General Release (this “Agreement”) is entered into between the undersigned Employee,
Charles Oglesby (“you” or “your”) and Asbury Automotive Group (the “Company”), 2905 Premiere Parkway, Suite 300, Duluth, GA 30097. In consideration of the mutual promises contained in this Agreement, you and the
Company agree to the following: 
  

	 	1.	Your employment with the Company terminated effective on                     
(“Date of Termination”). 

  

	 	2.	Subject to the conditions described below, the Company will pay you the severance benefits (the “Severance Benefits”) provided for in Section
             of that certain Amended Employment Agreement between you and the Company dated
                     (the “Employment Agreement”). 

  

	 	3.	 You hereby agree to release, discharge, indemnify and hold harmless forever the Company and its officers, directors, employees, stockholders, agents, parent
companies, subsidiaries, limited liability companies and partnerships, affiliates, successors and assigns from any and all actions, causes of action, contracts, claims, demands and liabilities whatsoever, whether in law or equity, whether known or
unknown, which you ever had, now have or hereafter may have, or which your heirs, executors or administrators may have, relating in any way to your employment relationship with the Company, the terms and conditions of your employment relationship,
and the termination of that employment. This General Release includes a release of any rights or claims pursuant to any federal, state or local laws, executive orders, ordinances, or regulations, including, without limitation, the Age Discrimination
in Employment Act, which prohibits age discrimination in employment; Title VII of the Civil Rights Act of 1964, which prohibits discrimination in employment based on race, color, national origin, religion or sex; the Equal Pay Act, which prohibits
paying men and women unequal pay for equal work; the Fair Labor Standards Act, which governs wages and other terms and conditions of employment; the Americans with Disabilities Act, which prohibits discrimination against persons with disabilities;
claims for wrongful discharge, infliction of emotional distress, interference with contract or economic relations, breach of any express or implied contract or covenant of good faith and fair dealing, or any tort, common law or contract claim. This
General Release shall not apply to your entitlements under this Agreement, to any right you may have to any benefits already vested under 

  

 17 

	 	 
any Company benefits plan in which you participated or to any rights you may to indemnification or liability insurance under any of the Company’s plans
or policies. 

  

	 	4.	You hereby recognize and reaffirm the promises and obligations contained in Sections 8 and 9 of the Employment Agreement with respect to your covenants relating to your
non-competition, non-solicitation and non-disclosure of confidential information, as well as your obligations under the Asbury Automotive Group Code of Business Conduct and Ethics for Directors, Officers and Employees. 

  

	 	5.	You agree to keep confidential and not disclose to anyone (other than your private attorney, and financial advisor and your immediate family) the terms, amount and fact of this
Agreement. You and the Company agree that each will not talk about the other or otherwise communicate to anyone in a disparaging or defamatory manner regarding the other, including but not limited to your employment with the Company, the termination
of that employment, or the Company’s business strategies, operations, prospects, practices or conduct. Any request for employment references should be directed to Philip Johnson, VP of Human Resources, Asbury Automotive Group, 2905 Premiere
Parkway, Suite 300, Duluth, GA 30097. The provisions of this paragraph shall survive termination of this Agreement. 

  

	 	6.	You acknowledge that you have been given a period of twenty-one (21) days to review and consider this Agreement before signing it. You understand that you may use as much of
this twenty-one (21) day period as you wish prior to signing. 

  

	 	7.	You acknowledge and understand that you have had the right and opportunity to discuss all aspects of this Agreement with your private attorney and that you have been strongly
encouraged to do so before signing this Agreement. You represent that you have carefully read and fully understand all of the provisions of this Agreement, and that you are voluntarily entering into this Agreement. This Agreement constitutes an
offer that will expire if you do not execute the Agreement during the 21-day period. 

  

	 	8.	You may revoke this Agreement within seven (7) days of your signing it. Revocation can be made by delivering a written notice of revocation to Philip Johnson, Asbury Automotive
Group, 2905 Premiere Parkway, Suite 300, Duluth, GA 30097. For this revocation to be effective, written notice must be received by Philip Johnson no later than the close of business on the seventh day after you sign this Agreement. If you
revoke this Agreement, it will not be effective or enforceable and you will not receive the Severance Benefits. 

  

 18 

	 	9.	You hereby waive any right or claim you may have to employment, re-employment or reinstatement with the Company or any other party named in the General Release.

  

	 	10.	It is expressly understood that there is no other agreement or understanding between you and the Company pertaining to the termination of your employment with the Company or the
Company’s obligations to you with respect to such termination, except as set forth in this Agreement. 

  

	 	11.	Any controversy or claim arising out of or relating to your employment with the Company, the termination of your employment, this Agreement, or its breach, shall be finally settled
by binding arbitration in accordance with the Model Employment Arbitration Procedures of the American Arbitration Association before an arbitrator (who shall be an attorney with at least ten years’ experience in employment law) mutually agreed
to by the parties, in or near the city where the Company maintains its corporate headquarters at the time of the dispute. You and the Company agree that any judgment upon any award rendered by the arbitrator may be entered in any court having
jurisdiction thereof. 

  

	 	12.	If any provision of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way
be affected or impaired thereby. 

 PLEASE READ CAREFULLY. CAREFULLY CONSIDER ALL PROVISIONS OF THIS AGREEMENT BEFORE SIGNING IT. THIS
AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 
  

									
	 Asbury Automotive Group
	 		 	Employee:
				
	 By:
	 	  
	 		 	  

	 Dated:
	 	  
	 		 	Dated:	 	  

  

 19

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