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Exhibit 4.14
FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of December 30, 2010, among the Subsidiary (as defined below) of Asbury Automotive Group, Inc. (or its permitted successor), a Delaware corporation (the “Company”), listed on Schedule II hereto (the “Guaranteeing Subsidiary”), the Company, the other Guarantors (as defined in the Indenture referred to herein) and The Bank of New York Mellon, as trustee under the Indenture referred to below (the “Trustee”).
W I T N E S S E T H
WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of November 16, 2010 providing for the issuance of 8.375% Senior Subordinated Notes due 2020 (the “Notes”);
WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company's Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Subsidiary Guarantee”); and
WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.
NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:
1.CAPITALIZED TERMS.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.
 
2.AGREEMENT TO GUARANTEE.  The Guaranteeing Subsidiary hereby agrees to jointly and severally along with all Guarantors named in the Indenture, to guarantee the Company's obligations under the Notes on the terms and subject to the conditions set forth in Article 11 of the Indenture and to be bound by all other applicable provisions of the Indenture and the Notes.
 
3.RATIFICATION OF INDENTURE; SUPPLEMENTAL INDENTURES PART OF INDENTURE.  Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provision thereof shall remain in full force and effect.  This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder heretofore or hereafter authenticated and delivered shall be bound hereby.
 
4.NEW YORK LAW TO GOVERN.  THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE.
 
5.COUNTERPARTS.  The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.
 
6.EFFECT OF HEADINGS.  The Section headings herein are for convenience only and shall not affect the construction hereof.
 
7.THE TRUSTEE.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and the Company.

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IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the date first above written.
Dated as of December 30, 2010
 
			
	ASBURY AUTOMOTIVE GROUP, INC.
	 

	 
	 
	 

	By:
	/s/Craig T. Monaghan
	 

	 
	Name:  Craig T. Monaghan
Title:    SVP & CFO
	 

	 
	 
	 

	EACH GUARANTOR LISTED ON SCHEDULE I HERETO
	 

	 
	 
	 

	By:
	/s/Craig T. Monaghan
	 

	 
	Name: Craig T. Monaghan
Title:  SVP of VP of each Limited 
           Liability Company or Corporation, 
           or the General Partner of each 
           Limited Partnership listed on the 
           attached Schedule
	 

	 
	 
	 

	EACH GUARANTEEING SUBSIDIARY LISTED ON SCHEDULE  II HERETO
	 

	 
	 
	 

	By:
	/s/Craig T. Monaghan
	 

	 
	Name: Craig T. Monaghan
Title:  SVP of VP of each Limited 
           Liability Company or Corporation, 
           or the General Partner of each 
           Limited Partnership listed on the 
           attached Schedule  
	 

 
[Signature Page for First Supplemental Indenture]
 
 

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	THE BANK OF NEW YORK MELLON
	 

	 
	 
	 

	By:
	/s/ Latoya s. Elvin
	 

	 
	Name:  Latoya S. Elvin  
Title:    Associate 
	 

 
[Signature page for First Supplemental Indenture]
 

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Schedule I
SCHEDULE OF GUARANTORS
The following schedule lists each Guarantor under the Indenture as of the Issue Date:
Legal Name
AF Motors, L.L.C.
ALM Motors, L.L.C.
Arkansas Automotive Services, L.L.C.
Asbury AR Niss L.L.C.
Asbury Atlanta AC L.L.C.
Asbury Atlanta AU L.L.C.
Asbury Atlanta BM L.L.C.
Asbury Atlanta Chevrolet L.L.C.
Asbury Atlanta Hon L.L.C.
Asbury Atlanta Inf L.L.C.
Asbury Atlanta Infiniti L.L.C.
Asbury Atlanta Jaguar L.L.C.
Asbury Atlanta Lex L.L.C.
Asbury Atlanta Nis L.L.C.
Asbury Atlanta Toy L.L.C.
Asbury Atlanta VL L.L.C.
Asbury Automotive Arkansas Dealership Holdings L.L.C.
Asbury Automotive Arkansas L.L.C.
Asbury Automotive Atlanta II L.L.C.
Asbury Automotive Atlanta L.L.C.
Asbury Automotive Central Florida, L.L.C.
Asbury Automotive Deland, L.L.C.
Asbury Automotive Fresno L.L.C.
Asbury Automotive Group L.L.C.
Asbury Automotive Jacksonville GP L.L.C.
Asbury Automotive Jacksonville GP L.L.C., as general partner of Asbury Automotive Jacksonville, L.P.
Asbury Automotive Management L.L.C.
Asbury Automotive Mississippi L.L.C.
Asbury Automotive North Carolina Dealership Holdings, L.L.C.
Asbury Automotive North Carolina L.L.C.
Asbury Automotive North Carolina Management L.L.C.
Asbury Automotive North Carolina Real Estate Holdings, L.L.C.
Asbury Automotive Oregon L.L.C.
Asbury Automotive Southern California L.L.C.
Asbury Automotive St. Louis II L.L.C.
Asbury Automotive St. Louis L.L.C.
Asbury Automotive Tampa GP L.L.C.
Asbury Automotive Tampa GP L.L.C., as general partner of Asbury Automotive Tampa, L.P.
Asbury Automotive Texas L.L.C.
Asbury Automotive Texas Real Estate Holdings, L.L.C.
Asbury Deland Imports 2, L.L.C.
Asbury Fresno Imports L.L.C.
Asbury Jax AC, LLC
Asbury Jax Hon L.L.C.
Asbury Jax K L.L.C.
Asbury Jax Management L.L.C.

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Asbury Jax Management L.L.C., as general partner of ANL, L.P., Asbury Jax Holdings, L.P., Avenues Motors, Ltd., Bayway Financial Services, L.P., C&O Properties, Ltd., CFP Motors, Ltd., CH Motors, Ltd., CHO Partnership, Ltd., CN Motors, Ltd., Coggin Management, L.P. and CP-GMC Motors, Ltd.
Asbury Jax VW, L.L.C.
Asbury MS Chev L.L.C.
Asbury MS Gray-Daniels L.L.C.
Asbury No Cal Niss L.L.C.
Asbury Sacramento Imports L.L.C.
Asbury SC JPV, L.L.C.
Asbury SC LEX L.L.C.
Asbury SC Toy L.L.C.
Asbury So Cal DC L.L.C.
Asbury So Cal Hon L.L.C.
Asbury So Cal Niss L.L.C.
Asbury St. Louis Cadillac L.L.C.
Asbury St. Louis FSKR, L.L.C.
Asbury St. Louis Lex L.L.C.
Asbury St. Louis LR L.L.C.
Asbury St. Louis M, L.L.C.
Asbury Tampa Management L.L.C.
Asbury Tampa Management L.L.C., as general partner of Asbury Automotive Brandon, L.P., Tampa Hund, L.P., Tampa Kia, L.P., Tampa LM, L.P., Tampa Mit, L.P., WMZ Motors, L.P. and WTY Motors, L.P. 
Asbury Texas D FSKR, L.L.C.
Asbury Texas H FSKR, L.L.C.
Asbury-Deland Imports, L.L.C.
Atlanta Real Estate Holdings L.L.C.
BFP Motors L.L.C.
Camco Finance II L.L.C.
CK Chevrolet L.L.C.
CK Motors LLC
Coggin Automotive Corp.
Coggin Cars L.L.C.
Coggin Chevrolet L.L.C.
Crown Acura/Nissan, LLC
Crown CHH L.L.C.
Crown CHO L.L.C.
Crown CHV L.L.C.
Crown FDO L.L.C.
Crown FFO Holdings L.L.C.
Crown FFO L.L.C.
Crown GAC L.L.C.
Crown GBM L.L.C.
Crown GCA L.L.C.
Crown GDO L.L.C.
Crown GHO L.L.C.
Crown GNI L.L.C.
Crown GPG L.L.C.
Crown GVO L.L.C.
Crown Honda, LLC
Crown Motorcar Company L.L.C.
Crown PBM L.L.C.
Crown RIA L.L.C.
Crown RIB L.L.C.

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Crown SJC L.L.C.
Crown SNI L.L.C.
CSA Imports L.L.C.
Escude-NN L.L.C.
Escude-NS L.L.C.
Escude-T L.L.C.,
Florida Automotive Services L.L.C.
HFP Motors L.L.C.
JC Dealer Systems, LLC
KP Motors L.L.C.
McDavid Austin-Acra, L.L.C.
McDavid Frisco-Hon, L.L.C.
McDavid Grande, L.L.C.
McDavid Houston-Hon, L.L.C.
McDavid Houston-Niss, L.L.C.
McDavid Irving-Hon, L.L.C.
McDavid Outfitters, L.L.C.
McDavid Plano-Acra, L.L.C.
Mid-Atlantic Automotive Services, L.L.C.
Mississippi Automotive Services, L.L.C.
Missouri Automotive Services, L.L.C.
NP FLM L.L.C.
NP MZD L.L.C.
NP VKW L.L.C.
Plano Lincoln-Mercury, Inc.
Precision Computer Services, Inc.
Precision Enterprises Tampa, Inc.
Precision Infiniti, Inc.
Precision Motorcars, Inc.
Precision Nissan, Inc.
Premier NSN L.L.C.
Premier Pon L.L.C.
Prestige Bay L.L.C.
Prestige TOY L.L.C.
Southern Atlantic Automotive Services, L.L.C.
Texas Automotive Services, L.L.C.
Thomason Auto Credit Northwest, Inc.
Thomason DAM L.L.C.
Thomason FRD L.L.C.
Thomason Hund L.L.C.
Thomason Pontiac-GMC L.L.C.
 

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Schedule II
 
 
SCHEDULE OF GUARANTEEING SUBSIDIARIES
 
The following schedule lists each Guaranteeing Subsidiary becoming a Guarantor under the Indenture pursuant to the Supplemental Indenture to which this Schedule II is attached:
Asbury South Carolina Real Estate Holdings L.L.C.
 

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         Exhibit 10.11        
 

PERSONAL & CONFIDENTIAL
April 22, 2010                                        
Joseph Parham Jr.
Dear Joe: 
 
We are excited that you will be joining our Company as Vice President Chief Human Resources Officer reporting to me. I am sure that you will make a significant contribution to our company and I look forward to your starting with us on May 3, 2010. 
 
Cash Compensation
 
Your Target Annualized compensation will be $462,000. This includes base salary plus the full year annual target bonus. 
The components are as follows:
 
Annual base compensation will be $330,000 and a total target annual bonus opportunity of $132,000, which is 40% of your base salary. The bonus for 2010 will be prorated for the portion of the year that you are actually employed. Since you are starting on May 3rd, your proration will be 8/12 or $88,000. The bonus targets, which are the same for all bonus-eligible employees in the corporate office, are based upon the number of cars sold in the US in 2010 and Asbury EBITDA at each level of sales. We are excited about our opportunity to eam an excellent bonus in 2010 and a copy of the Bonus plan document is attached. 
Equity Grants
   Special new hire grant 
On May 3,2010 you will also receive a grant of 10,000 restricted shares. These shares will vest 100% on the third anniversary of the grant date. If Asbury resumes dividend payments to our shareholders, you will also receive dividend equivalents for your unvested restricted shares. These dividend equivalents will be accrued and paid out to you in cash when the shares vest.
 
Prorated annual Grants 
 
On May 3, 2010 you will receive a grant of 10,000 restricted shares. These shares will vest 1/3 on each anniversary of the grant date. This Grant will also accrue Dividend equivalents. 
On May 3, 2010 you will receive a grant of 10,000 performance units. These shares will vest 1/3 on each anniversary of the grant date. This Grant will also accrue Dividend equivalents. A summary of the terms 

 

 

of the performance grant is attached.
 Equity Holding Guidelines 
Unvested restricted shares also count toward your equity holding guideline, which is two times your base salary. These grants will put you at about 59% of your guideline amount of 34,144 shares. 
Auto Allowance
 You will receive a car allowance in the amount of $800 per month. This amount will be paid to you in our regular payroll and will be subject to normal withholding. 
Benefits  
 
We offer the following items in our benefits package: Family Health, Dental and Vision Care, a 401 (k) Plan, Employee LTD, Life and STD. We can provide you the details as you would like. 
Vacation 
In 2010 you will be have 3 weeks of vacation and 4 weeks of paid vacation annually thereafter. 
Termination Protection 
You will receive a termination protection agreement providing base salary and benefits continuation for one year in the event of termination, as defined in the agreement. A form of this agreement is attached. 
 
In extending this offer of employment, we have relied on your representations that (1) you will not use in any way any confidential information (or any records, documents and similar items) relating to the business of your former employers while employed at Asbury and (2) you have not entered into any agreement or made any commitment to any prior employer or other third party (including, without limitation, non-competition provisions or other restrictive covenants in agreements with prior employers) which would in any way affect or limit your ability to carry out your duties with Asbury. By signing this offer letter, you acknowledge that any inaccuracy in these representations may be grounds for termination. 
To signify your acceptance of this position, please sign below and return one copy to me. 
Sincerely,
/s/ Charles Oglesby
Charles Oglesby
President and CEO
Asbury Automotive Group, Inc. 
I hereby Signify my acceptance of the position 
			
	Signature
	 
	Date

	/s/ Joseph G. Parham, Jr.
	 
	April 22, 2010

 
 

 

 

GENERAL PROVISIONS 
		
	A.    
	 At Will Employment 

Executive and Asbury acknowledge and agree that Executive is an "at will" employee, which means that either Executive or Asbury may terminate the employment relationship at any time, for any reason, with or without cause or notice, and that nothing in this Agreement shall be construed as an express or implied contract of employment for any length of time. 
		
	B.    
	 Execution of Release 

As a condition to the receipt of the Severance Pay payments and benefits described in Section I above, Executive agrees to execute a release of all claims arising out of Executive's employment or Termination including but not limited to any claim of discrimination, harassment or wrongful discharge under local, state or federal law. 
		
	C.    
	Alternative Dispute Resolution 

Any disputes arising under or in connection with this Agreement shall be resolved by binding arbitration before an arbitrator (who shall be an attorney with at least ten years' experience in employment law) in the city where Executive is located and in accordance with the rules and procedures of the American Arbitration Association. Each party may choose to retain legal counsel and shall pay its own attorneys' fees, regardless of the outcome of the arbitration. Executive may be required to pay a filing fee limited to the equivalent cost of filing in the court of jurisdiction. Asbury will pay the fees and costs of conducting the arbitration. Judgment upon the award rendered by the arbitrator may be entered in any court of jurisdiction. This clause shall not preclude or restrict the Company from seeking and obtaining injunctive relief in a court of competent jurisdiction in relation to the enforcement of any post-employment restrictive covenants. 
			
	Initials
	 
	Initials

	Executive
	 
	For the Company

		
	D.    
	Other Provisions 

The headings and captions are provided for reference and convenience only and shall not be considered part of this Agreement. 
Any notice or other communication required or permitted to be delivered under this Agreement shall be (i) in writing, (ii) delivered personally, by nationally recognized overnight courier service or by certified or registered mail, first-class postage prepaid and return receipt requested, (iii) deemed to have been received on the date of delivery or on the third business day after mailing, and (iv) addressed as follows (or 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. 
 

 

 

					
	 
	 AGREED TO AS OF ____________________________  ________ ,2010: 

	 
	 
	 
	 
	 

	 
	BY EXECUTIVE:
	 
	BY ASBURY:
	 

	 
	 
	 
	 
	 

	 
	 
	 
	ASBURY AUTOMOTIVE GROUP, INC.

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	Print Name:
	 
	Print Name and Title:

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