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                                                                   EXHIBIT 10.22

                                 LKQ CORPORATION

                           1998 EQUITY INCENTIVE PLAN

                                    ARTICLE 1
                     ESTABLISHMENT, OBJECTIVES, AND DURATION

     1.1    ESTABLISHMENT OF THE PLAN. LKQ CORPORATION, a Delaware corporation
(hereinafter referred to as the "Company"), hereby establishes an incentive
compensation plan to be known as the LKQ 1998 Equity Incentive Plan (hereinafter
referred to as the "Plan") as set forth in this document. The Plan became
effective as of February 13, 1998 (the "Effective Date") and shall remain in
effect as provided in Section 1.3 hereof.

     1.2    PURPOSE OF THE PLAN. The purpose of this Plan is to benefit the
Company and its subsidiaries and affiliated companies by enabling the Company to
offer to certain present and future executives, key personnel and other persons
affiliated with the Company stock based incentives and other equity interests in
the Company, thereby giving them a stake in the growth and prosperity of the
Company and encouraging the continuance of their relationship with the Company
or subsidiaries or affiliated companies.

     1.3    DURATION OF THE PLAN. The Plan shall commence on the Effective Date
and shall remain in effect, subject to the right of the Board of Directors to
amend or terminate the Plan at any time pursuant to Article 15 hereof, until all
Shares subject to it shall have been purchased or acquired according to the Plan
provisions.

                                    ARTICLE 2
                                   DEFINITIONS

     Whenever used in the Plan, the following terms shall have the meanings set
forth below, and when the meaning is intended, the initial letter of the word
shall be capitalized:

     "AWARD" means, individually or collectively, a grant under this Plan of
Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights,
Restricted Stock, Performance Shares or Performance Units.

     "AWARD AGREEMENT" means a writing provided by the Company to each
Participant setting forth the terms and provisions applicable to Awards granted
under this Plan. The Participant's acceptance of the terms of the Award
Agreement shall be evidenced by his or her continued employment without written
objection before any exercise or payment of the Award. If the Participant
objects in writing, the grant of the Award shall be revoked.

     "BENEFICIAL OWNER" or "BENEFICIAL OWNERSHIP" shall have the meaning
ascribed to such term in Rule 13d-3 of the General Rules and Regulations under
the Exchange Act.

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     "BOARD" or "BOARD OF DIRECTORS" means the Board of Directors of the
Company.

     "CAUSE" shall mean, with respect to termination of a Participant's
employment, consulting arrangement or other affiliation, the occurrence of any
one or more of the following, as determined by the Committee, in the exercise of
good faith and reasonable judgment:

            (i)   In the case where there is no employment, change in control or
     similar agreement in effect between the Participant and the Company or a
     Subsidiary at the time of the grant of the Award, or where there is such an
     agreement but the agreement does not define "cause" (or similar words) or a
     "cause" termination would not be permitted under such agreement at that
     time because other conditions were not satisfied, the termination of an
     employment or consulting arrangement is due to the willful and continued
     failure or refusal by the Participant to substantially perform assigned
     duties (other than any such failure resulting from the Participant's
     Disability), the Participant's dishonesty or theft, the Participant's
     violation of any obligations or duties under any employee agreement, or the
     Participant's gross negligence or willful misconduct; or

            (ii)  In the case where there is an employment, change in control or
     similar agreement in effect between the Participant and the Company or a
     Subsidiary at the time of the grant of the Award that defines "cause" (or
     similar words) and a "cause" termination would be permitted under such
     agreement at that time, the termination of an employment or consulting
     arrangement is or would be deemed to be for "cause" (or similar words) as
     defined in such agreement.

No act or failure to act on a Participant's part shall be considered willful
unless done, or omitted to be done, by the Participant not in good faith and
without reasonable belief that his action or omission was in the best interest
of the Company.

     "CHANGE OF CONTROL" of the Company shall mean:

            (a)   the Company is merged or consolidated or reorganized into or
     with another corporation or other legal person (an "Acquiror") and as a
     result of such merger, consolidation or reorganization less than 50% of the
     outstanding voting securities or other capital interests of the surviving,
     resulting or acquiring corporation or other legal person are owned in the
     aggregate by the stockholders of the Company, directly or indirectly,
     immediately prior to such merger, consolidation or reorganization, other
     than by the Acquiror or any corporation or other legal person controlling,
     controlled by or under common control with the Acquiror;

            (b)   The Company sells all or substantially all of its business
     and/or assets to an Acquiror, of which less than 50% of the outstanding
     voting securities or other capital interests are owned in the aggregate by
     the stockholders of the Company, directly or indirectly, immediately prior
     to such sale, other than by any corporation or other legal person
     controlling, controlled by or under common control with the Acquiror;

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            (c)   There is a report filed on Schedule 13D or Schedule 14D-1 (or
     any successor schedule, form or report), each as promulgated pursuant to
     the Exchange Act, disclosing that any person or group (as the terms
     "person" and "group" are used in Section 13(d)(3) or Section 14(d)(2) of
     the Exchange Act and the rules and regulations promulgated thereunder) has
     become the beneficial owner (as the term "beneficial owner" is defined
     under Rule 13d-3 or any successor rule or regulation promulgated under the
     Exchange Act) of 50% or more of the issued and outstanding shares of voting
     securities of the Company; or

            (d)   During any period of two consecutive years, individuals who at
     the beginning of any such period constitute the directors of the Company
     cease for any reason to constitute at least a majority thereof unless the
     election, or the nomination for election by the Company's stockholders, of
     each new director of the Company was approved by a vote of at least
     two-thirds of such directors of the Company then still in office who were
     directors of the Company at the beginning of any such period.

     "CODE" means the Internal Revenue Code of 1986, as amended from time to
time, or any successor legislation thereto.

     "COMMITTEE" means the Committee as specified in Article 3 herein appointed
by the Board to administer the Plan with respect to grants of Awards.

     "COMMON STOCK" means the common stock of the Company.

     "COMPANY" means LKQ Corporation, a Delaware corporation, as well as any
successor to such entity as provided in Article 17 herein.

     "DIRECTOR" means any individual who is a member of the Board of Directors
of the Company.

     "DISABILITY" shall have the meaning ascribed to such term in the
Participant's governing long-term disability plan. If no long term disability
plan is in place with respect to a Participant, then with respect to that
Participant, Disability shall mean: for the first 24 months of disability, that
the Participant is unable to perform his or her job; thereafter, that the
Participant is unable to perform any and every duty of any gainful occupation
for which the Participant is reasonably suited by training, education or
experience.

     "EFFECTIVE DATE" shall have the meaning ascribed to such term in Section
1.1 hereof.

     "EMPLOYEE" means any employee of the Company or any Subsidiary.

     "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended from
time to time, or any successor act thereto.

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     "FAIR MARKET VALUE" means (a) if the Common Stock is not listed or traded
on a stock exchange or market, the value of the Common Stock determined in good
faith by the Committee; or (b) if the Common Stock is listed or traded on a
stock exchange or market, (i) for purposes of setting any Option Price, unless
otherwise required by any applicable provision of the Code or any regulations
issued thereunder, or unless the Committee otherwise determines, means as of the
date of the Award, the average of the closing sales prices of the Common Stock
on the applicable stock exchange or market (as reported in THE WALL STREET
JOURNAL, Midwest Edition) on each of the five trading dates immediately
preceding such date; and (ii) for purposes of the valuation of any Shares
delivered in payment of the Option Price upon the exercise of an Option, for
purposes of the valuation of any Shares withheld in payment of the Option Price
or to pay taxes due on an Award, or for purposes of the exercise of any SAR or
conversion of a Performance Unit, means the average of the high and low sales
prices of the Common Stock on the applicable stock exchange or market (as
reported in THE WALL STREET JOURNAL, Midwest Edition) on the date of exercise
(or if the date of exercise is not a trading day, on the trading day next
preceding the date of exercise).

     "FREESTANDING SAR" means a stock appreciation right that is granted
independently of any Options, as described in Article 7 herein.

     "GOOD REASON" shall mean, with respect to the termination of a
Participant's employment or consulting arrangement,

            (i)   in the case where there is no employment, change in control or
     similar agreement in effect between the Participant and the Company or a
     Subsidiary at the time of the grant of the Award, or where there is such an
     agreement but the agreement does not define "good reason" (or similar
     words) or a "good reason" termination would not be permitted under such
     agreement at that time because other conditions were not satisfied, a
     voluntary termination of an employment or consulting arrangement due to
     "good reason" as the Committee, in its sole discretion, decides to treat as
     a "Good Reason" termination; or

            (ii)  in the case where there is an employment, change in control or
     similar agreement in effect between the Participant and the Company or a
     Subsidiary at the time of the grant of the Award that defines "good reason"
     (or similar words) and a "good reason" termination would be permitted under
     such agreement at that time, the termination of an employment or consulting
     arrangement is or would be deemed to be for "good reason" (or similar
     words) as defined in such agreement.

     "INCENTIVE STOCK OPTION" or "ISO" means an option to purchase Shares
granted under Article 6 herein and which is designated as an Incentive Stock
Option and which is intended to meet the requirements of Section 422 of the
Code.

     "INSIDER" shall mean an individual who is, on the relevant date, an
officer, director or more than ten percent (10%) beneficial owner of any class
of the Company's equity securities that is registered pursuant to Section 12 of
the Exchange Act, all as defined under Section 16 of the Exchange Act.

     "NAMED EXECUTIVE OFFICER" means a Participant who is one of the group of
covered employees as defined in the regulations promulgated under Section 162(m)
of the Code, or any successor statute.

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     "NONQUALIFIED STOCK OPTION" or "NQSO" means an option to purchase Shares
granted under Article 6 herein and which is not intended to meet the
requirements of Section 422 of the Code.

     "OPTION" means an Incentive Stock Option or a Nonqualified Stock Option, as
described in Article 6 herein.

     "OPTION PRICE" means the price at which a Share may be purchased by a
Participant pursuant to an Option.

     "PARTICIPANT" means a Person who or which has outstanding an Award granted
under the Plan.

     "PERFORMANCE-BASED EXCEPTION" means the exception for performance-based
compensation from the tax deductibility limitations of Section 162(m) of the
Code.

     "PERFORMANCE PERIOD" means the time period during which performance goals
must be achieved with respect to an Award, as determined by the Committee.

     "PERFORMANCE SHARE" means an Award granted to a Participant, as described
in Article 9 herein.

     "PERFORMANCE UNIT" means an Award granted to a Participant, as described in
Article 9 herein.

     "PERIOD OF RESTRICTION" means the period during which the transfer of
Shares of Restricted Stock is limited in some way, and the Shares are subject to
a substantial risk of forfeiture, as provided in Article 8 herein.

     "PERSON" shall have the meaning ascribed to such term in Section 3(a)(9) of
the Exchange Act and used in Section 13(d) and 14(d) thereof, including a group
as defined in Section 13(d) thereof.

     "RESTRICTED STOCK" means an Award granted to a Participant pursuant to
Article 8 herein.

     "RETIREMENT" means the Participant's termination of employment with the
Company or its Subsidiaries under circumstances which the Committee determines,
in its sole discretion, that qualify as a Retirement termination from the
Company.

     "SHARES" means shares of Common Stock of the Company.

     "STOCK APPRECIATION RIGHT" or "SAR" means an Award, granted alone or in
connection with a related Option, designated as an SAR, pursuant to the terms of
Article 7 herein.

     "SUBSIDIARY" means any corporation, partnership, joint venture, affiliate,
or other entity in which the Company is the direct or indirect beneficial owner
of not less than 20% of all issued and outstanding equity interests.

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     "TANDEM SAR" means an SAR that is granted in connection with a related
Option pursuant to Article 7 herein, the exercise of which shall require
forfeiture of the right to purchase a Share under the related Option (and when a
Share is purchased under the Option, the Tandem SAR shall similarly be
forfeited).

                                    ARTICLE 3
                                 ADMINISTRATION

     3.1    THE COMMITTEE. The Plan shall be administered by the Committee
appointed by the Board. If and to the extent that no Committee exists that has
the authority to administer the Plan, the functions of the Committee shall be
exercised by the Board.

     3.2    AUTHORITY OF THE COMMITTEE. Except as limited by law or by the
Certificate of Incorporation or Bylaws of the Company, and subject to the
provisions herein, the Committee shall have full power to select Persons who
shall participate in the Plan; determine the sizes and types of Awards;
determine the terms and conditions of Awards in a manner consistent with the
Plan; construe and interpret the Plan and any agreement or instrument entered
into under the Plan, establish, amend, or waive rules and regulations for the
Plan's administration; and (subject to the provisions of Article 15 herein)
amend the terms and conditions of any outstanding Award to the extent such terms
and conditions are within the discretion of the Committee as provided in the
Plan. Further, the Committee shall make all other determinations which may be
necessary or advisable for the administration of the Plan. As permitted by law,
the Committee may delegate the authority granted to it herein.

     3.3    DECISIONS BINDING. All determinations and decisions made by the
Committee pursuant to the provisions of the Plan and all related orders and
resolutions of the Board shall be final, conclusive and binding on all Persons,
including the Company, its stockholders, Employees, Participants, and their
estates and beneficiaries.

                                    ARTICLE 4
                  SHARES SUBJECT TO THE PLAN AND MAXIMUM AWARDS

     4.1    SHARES AVAILABLE FOR AWARDS. The aggregate number of Shares which
may be issued for or used for reference purposes under this Plan or with respect
to which Awards may be granted shall not exceed 5,000,000 Shares (subject to
adjustment as provided in Section 4.3), which may be either authorized and
unissued Shares or Shares held in or acquired for the treasury of the Company.
Upon (a) a payout of a Freestanding SAR, Tandem SAR, or Restricted Stock award
in the form of cash; (b) a cancellation, termination, expiration, forfeiture, or
lapse for any reason (with the exception of the termination of a Tandem SAR upon
exercise of the related Options, or the termination of a related Option upon
exercise of the corresponding Tandem SAR) of any Award; or (c) payment of an
Option Price and/or payment of any taxes arising upon exercise of an Option or
payout of any Award with previously acquired Shares or by withholding Shares
which otherwise would be acquired on exercise or issued upon such payout, then
the number of Shares underlying any such Award which were not issued as a result
of any of the foregoing actions shall again be available for the purposes of
Awards under the Plan.

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     4.2    INDIVIDUAL PARTICIPANT LIMITATIONS. Unless and until the Committee
determines that an Award to a Named Executive Officer shall not be designed to
comply with the Performance-Based Exception, the following rules shall apply to
grants of such Awards under the Plan:

            (a)   Subject to adjustment as provided in Section 4.3 herein, the
     maximum aggregate number of Shares (including Options, SARs, Restricted
     Stock, Performance Units and Performance Shares to be paid out in Shares)
     that may be granted in any one fiscal year to a Participant shall be
     300,000.

            (b)   The maximum aggregate cash payout (including Performance Units
     and Performance Shares paid out in cash) with respect to Awards granted in
     any one fiscal year which may be made to any Participant shall be
     $1,000,000.

     4.3    ADJUSTMENTS IN AUTHORIZED SHARES. In the event of any change in
corporate capitalization, such as a stock split, or a corporate transaction,
such as any merger, consolidation, separation, including a spin-off, or other
distribution of stock or property of the Company, any reorganization (whether or
not such reorganization comes within the definition of such term in Section 368
of the Code) or any partial or complete liquidation of the Company, such
adjustment shall be made in the number and class of Shares available for Awards,
the number and class of and/or price of Shares subject to outstanding Awards
granted under the Plan and the number of Shares set forth in Sections 4.1 and
4.2, as may be determined to be appropriate and equitable by the Committee, in
its sole discretion, to prevent dilution or enlargement of rights; provided,
however, that the number of Shares subject to any Award shall always be a whole
number.

                                    ARTICLE 5
                          ELIGIBILITY AND PARTICIPATION

     5.1    ELIGIBILITY. Persons eligible to participate in this Plan include
all officers and other employees of the Company and its Subsidiaries, and other
Persons affiliated with the Company and its Subsidiaries, as determined by the
Committee, including Employees who are members of the Board and Employees who
reside in countries other than the United States of America.

     5.2    ACTUAL PARTICIPATION. Subject to the provisions of the Plan, the
Committee may, from time to time, select from all eligible Persons, those to
whom Awards shall be granted and shall determine the nature and amount of each
Award.

                                    ARTICLE 6
                                  STOCK OPTIONS

     6.1    GRANT OF OPTIONS. Subject to the terms and provisions of the Plan,
Options may be granted to one or more Participants in such number, and upon such
terms, and at any time and from time to time as shall be determined by the
Committee. The Committee may grant Nonqualified Stock Options or Incentive Stock
Options. The Committee shall have complete discretion in determining the number
of Options granted to each Participant (subject to Article 4 herein).

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     6.2    AWARD AGREEMENT. Each Option grant shall be evidenced by an Award
Agreement that shall specify the Option Price, the duration of the Option, the
number of Shares to which the Option pertains, and such other provisions as the
Committee shall determine. The Award Agreement with respect to the Option also
shall specify whether the Option is intended to be an ISO within the meaning of
Section 422 of the Code, or an NQSO whose grant is intended not to fall under
the provisions of Section 422 of the Code.

     6.3    OPTION PRICE. The Committee shall designate the Option Price for
each grant of an Option under this Plan which Option Price shall be at least
equal to one hundred percent (100%) of the Fair Market Value of a Share on the
date the Option is granted, and which Option Price may not be subsequently
changed by the Committee except pursuant to Section 4.3 hereof or to the extent
provided in the Award Agreement.

     6.4    DURATION OF OPTIONS. Each Option granted to an Employee shall expire
at such time as the Committee shall determine at the time of grant; provided,
however, that unless otherwise designated by the Committee at the time of grant,
no Option shall be exercisable later than the tenth (10th) anniversary date of
its grant.

     6.5    EXERCISE OF OPTIONS. Options granted under this Article 6 shall be
exercisable at such times and be subject to such restrictions and conditions as
the Committee shall in each instance approve, which need not be the same for
each grant or for each Participant.

     6.6    PAYMENT. Options granted under this Article 6 shall be exercised by
the delivery of a written notice of exercise to the Company, setting forth the
number of Shares with respect to which the Option is to be exercised,
accompanied by full payment for the Shares. The Option Price upon exercise of
any Option shall be payable to the Company in full either:

            (a)   in cash or its equivalent,

            (b)   by tendering previously acquired Shares having an aggregate
     Fair Market Value at the time of exercise equal to the total Option Price,
     or

            (c)   by a combination of (a) and (b).

     The Committee also may allow cashless exercises as permitted under Federal
Reserve Board's Regulation T, subject to applicable securities law restrictions,
or by any other means which the Committee determines to be consistent with the
Plan's purpose and applicable law. As soon as practicable after receipt of a
written notification of exercise and full payment, the Company shall deliver to
the Participant, in the Participant's name, Share certificates in an appropriate
amount based upon the number of Shares purchased under the Option(s).

     In connection with the exercise of Options granted under the Plan, the
Company may make loans to the Participants as the Committee, in its discretion,
may determine. Such loans shall be subject to the following terms and conditions
and such other terms and conditions as the Committee shall determine not
inconsistent with the Plan. Such loans shall bear interest at such rates as the
Committee shall determine from time to time, which rates may be below then
current market rates or may be made without interest. In no event may any such
loan exceed the Fair Market Value, at the date of exercise, of the shares
covered by the Option, or portion thereof,

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exercised by the Optionee. No loan shall have an initial term exceeding two
years, but any such loan may be renewable at the discretion of the Committee.
When a loan shall have been made, Shares having a fair market value at least
equal to 150 percent of the principal amount of the loan shall be pledged by the
Participant to the Company as security for payment of the unpaid balance of the
loan.

     6.7    RESTRICTIONS ON SHARE TRANSFERABILITY. The Committee may impose such
restrictions on any Shares acquired pursuant to the exercise of an Option
granted under this Article 6 as it may deem advisable, including, without
limitation, restrictions under applicable federal securities laws, under the
requirements of any stock exchange or market upon which such Shares are then
listed and/or traded, and under any blue sky or state securities laws applicable
to such Shares.

     6.8    TERMINATION OF RELATIONSHIP. Each Option Award Agreement shall set
forth the extent to which the Participant shall have the right to exercise the
Option following termination of the Participant's employment or other
relationship with the Company and/or its Subsidiaries. Such provisions shall be
determined in the sole discretion of the Committee, shall be included in the
Award Agreement entered into with each Participant, need not be uniform among
all Options issued pursuant to the Plan, and may reflect distinctions based on
the reasons for termination, including, but not limited to, termination of
employment for Cause or Good Reason, or reasons relating to the breach or
threatened breach of restrictive covenants. Subject to Article 14, in the event
that a Participant's Option Award Agreement does not set forth such termination
provisions, the following termination provisions shall apply:

            (a)   In the event a Participant's employment, consulting
     arrangement or other affiliation with the Company and/or its Subsidiaries
     is terminated for any reason other than death, Disability or Retirement,
     all Options held by the Participant shall expire and all rights to purchase
     Shares thereunder shall termination immediately; provided, however, that
     notwithstanding the foregoing, all Options to which the Participant has a
     vested right immediately prior to such termination shall be exercisable for
     the lesser of (i) 30 days following the date of termination or (ii) the
     expiration date of the Option, unless the termination was for Cause.

            (b)   In the event a Participant's employment, consulting
     arrangement or other affiliation with the Company and/or its Subsidiaries
     is terminated due to death or Disability, all Options shall immediately
     become fully vested on the date of termination.

            (c)   Subject to Article 14, in the event of termination of a
     Participant's employment, consulting arrangement or other affiliation due
     to death or Disability, all Options in which the Participant has a vested
     right upon termination shall be exercisable until the expiration date of
     the Option.

            (d)   Subject to Article 14, in the event of termination of a
     Participant's employment, consulting arrangement or other affiliation due
     to Retirement, all Options in which the Participant has a vested right upon
     termination shall be exercisable for the lesser of (i) three years
     following the date of termination or (ii) the expiration date of the
     Option.

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     6.9    NONTRANSFERABILITY OF OPTIONS.

            (a)   INCENTIVE STOCK OPTIONS. No ISO granted under the Plan may be
     sold, transferred, pledged, assigned, or otherwise alienated or
     hypothecated, other than by will or by the laws of descent and
     distribution. Further, all ISOs granted to a Participant under the Plan
     shall be exercisable during his or her lifetime only by such Participant.

            (b)   NONQUALIFIED STOCK OPTIONS. Except as otherwise provided in a
     Participant's Award Agreement, no NQSO granted under this Article 6 may be
     sold, transferred, pledged, assigned, or otherwise alienated or
     hypothecated, other than by will or by the laws of descent and
     distribution. Further, except as otherwise provided in a Participant's
     Award Agreement, all NQSOs granted to a Participant under this Article 6
     shall be exercisable during his or her lifetime only by such Participant.

                                    ARTICLE 7
                            STOCK APPRECIATION RIGHTS

     7.1    GRANT OF SARs. Subject to the terms and conditions of the Plan, SARs
may be granted to Participants at any time and from time to time as shall be
determined by the Committee. The Committee may grant Freestanding SARs, Tandem
SARs, or any combination of these forms of SARs. The Committee shall have
complete discretion in determining the number of SARs granted to each
Participant (subject to Article 4 herein) and, consistent with the provisions of
the Plan, in determining the terms and conditions pertaining to such SARs. The
Committee shall designate, at the time of grant, the grant price of Freestanding
SARs which grant price shall at least equal the Fair Market Value of a Share on
the date of grant of the SAR. The grant price of Tandem SARs shall equal the
Option Price of the related Option. Grant prices of SARs shall not subsequently
be changed by the Committee except pursuant to Section 4.3 hereof.

     7.2    EXERCISE OF TANDEM SARs. Tandem SARs may be exercised for all or
part of the Shares subject to the related Option upon the surrender of the right
to exercise the equivalent portion of the related Option. A Tandem SAR may be
exercised only with respect to the Shares for which its related Option is then
exercisable. Notwithstanding any other provision of this Plan to the contrary,
with respect to a Tandem SAR granted in connection with an ISO: (i) the Tandem
SAR will expire no later than the expiration of the underlying ISO; (ii) the
value of the payout with respect to the Tandem SAR may be for no more than one
hundred percent (100%) of the difference between the Option Price of the
underlying ISO and the Fair Market Value of the Shares subject to the underlying
ISO at the time the Tandem SAR is exercised; and (iii) the Tandem SAR may be
exercised only when the Fair Market Value of the Shares subject to the ISO
exceeds the Option Price of the ISO.

     7.3    EXERCISE OF FREESTANDING SARs. Freestanding SARs may be exercised
upon whatever terms and conditions the Committee, in its sole discretion,
imposes upon them.

     7.4    SAR AGREEMENT. Each SAR grant shall be evidenced by an Award
Agreement that shall specify the grant price, the term of the SAR, and such
other provisions as the Committee shall determine.

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     7.5    TERM OF SARs. The term of an SAR granted under the plan shall be
determined by the Committee, in its sole discretion; provided, however, that
unless otherwise designated by the Committee, such term shall not exceed ten
(10) years.

     7.6    PAYMENT OF SAR AMOUNT. Upon exercise of an SAR, a Participant shall
be entitled to receive payment from the Company in an amount determined by
multiplying:

            (a)   The excess of the Fair Market Value of a Share on the date of
     exercise over the grant price; by

            (b)   The number of Shares with respect to which the SAR is
     exercised.

     At the discretion of the Committee, the payment upon SAR exercise may be in
cash, in Shares of equivalent value, or in some combination thereof.

     7.7    TERMINATION OF RELATIONSHIP. Each SAR Award Agreement shall set
forth the extent to which the Participant shall have the right to exercise the
SAR following termination of the Participant's employment or other relationship
with the Company and/or its Subsidiaries. Such provisions shall be determined in
the sole discretion of the Committee, shall be included in the Award Agreement
entered into with each Participant, need not be uniform among all SARs issued
pursuant to the Plan, and may reflect distinctions based on the reasons for
termination, including, but not limited to, termination of employment for Cause
or Good Reason, or reasons relating to the breach or threatened breach of
restrictive covenants. Subject to Article 14, in the event that a Participant's
SAR Award Agreement does not set forth such termination provisions, the
following termination provisions shall apply:

            (a)   In the event a Participant's employment, consulting
     arrangement or other affiliation with the Company and/or its Subsidiaries
     is terminated for any reason other than death, Disability or Retirement,
     all SARs held by the Participant shall expire and all rights thereunder
     shall terminate immediately; provided, however, that notwithstanding the
     foregoing, all SARs to which the Participant has a vested right immediately
     prior to such termination shall be exercisable for the lesser of (i) 30
     days following the date of termination or (ii) the expiration date of the
     SAR, unless the termination was for Cause.

            (b)   In the event a Participant's employment, consulting
     arrangement or other affiliation with the Company and/or its Subsidiaries
     is terminated due to death or Disability, all SARs shall immediately become
     fully vested on the date of termination.

            (c)   Subject to Article 14, in the event of termination of a
     Participant's employment, consulting arrangement or other affiliation due
     to death or Disability, all SARs in which the Participant has a vested
     right upon termination shall be exercisable until the expiration date of
     the SAR.

            (d)   Subject to Article 14, in the event of termination of a
     Participant's employment, consulting arrangement or other affiliation due
     to Retirement, all SARs in which the Participant has a vested right upon
     termination shall be exercisable for the lesser of (i) three years
     following the date of termination or (ii) the expiration date of the SAR.

                                       11
<Page>

     7.8    NONTRANSFERABILITY OF SARs. Except as otherwise provided in a
Participant's Award Agreement, no SAR granted under the Plan may be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated, other
than by will or by the laws of descent and distribution. Further, except as
otherwise provided in a Participant's Award Agreement, all SARs granted to a
Participant under the Plan shall be exercisable during his or her lifetime only
by such Participant.

                                    ARTICLE 8
                                RESTRICTED STOCK

     8.1    GRANT OF RESTRICTED STOCK. Subject to the terms and provisions of
the Plan, the Committee, at any time and from time to time, may grant Shares of
Restricted Stock to Participants in such amounts as the Committee shall
determine.

     8.2    RESTRICTED STOCK AGREEMENT. Each Restricted Stock grant shall be
evidenced by an Award Agreement that shall specify the Period(s) of Restriction,
the number of Shares of Restricted Stock granted, and such other provisions as
the Committee shall determine.

     8.3    TRANSFERABILITY. Except as provided in this Article 8, the Shares of
Restricted Stock granted herein may not be sold, transferred, pledged, assigned,
or otherwise alienated or hypothecated, voluntarily or involuntarily, until the
end of the applicable Period of Restriction established by the Committee and
specified in the Restricted Stock Award Agreement, or upon earlier satisfaction
of any other conditions, as specified by the Committee in its sole discretion
and set forth in the Restricted Stock Agreement. All rights with respect to the
Restricted Stock granted to a Participant under the Plan shall be available
during his or her lifetime only to such Participant.

     8.4    OTHER RESTRICTIONS. Subject to Article 10 herein, the Committee may
impose such other conditions and/or restrictions on any Shares of Restricted
Stock granted pursuant to the Plan as it may deem advisable including, without
limitation, a requirement that Participants pay a stipulated purchase price for
each Share of Restricted Stock, restrictions based upon the achievement of
specific performance goals (Company-wide, Subsidiary-wide, divisional, and/or
individual), time-based restrictions on vesting which may or may not be
following the attainment of the performance goals, and/or restrictions under
applicable federal or state securities laws. The Company shall retain the
certificates representing Shares of Restricted Stock in the Company's possession
until such time as all conditions and/or restrictions applicable to such Shares
have been satisfied. Except as otherwise provided in this Article 8, Shares of
Restricted Stock covered by each Restricted Stock grant made under the Plan
shall become freely transferable by the Participant after the last day of the
applicable Period of Restriction.

     8.5    VOTING RIGHTS. Unless otherwise designated by the Committee at the
time of grant, Participants to whom Shares of Restricted Stock have been granted
hereunder may exercise full voting rights with respect to those Shares during
the Period of Restriction.

     8.6    DIVIDENDS AND OTHER DISTRIBUTIONS. Unless otherwise designated by
the Committee at the time of grant, Participants holding Shares of Restricted
Stock granted hereunder shall be credited with regular cash dividends paid with
respect to the underlying Shares while they are so held during the Period of
Restriction. The Committee may apply any restrictions to the dividends that the
Committee deems appropriate. Without limiting the generality of the preceding
sentence, if the grant or vesting of Shares of Restricted Stock granted to a
Named Executive Officer

                                       12
<Page>

is designed to comply with the requirements of the Performance-Based Exception,
the Committee may apply any restrictions it deems appropriate to the payment of
dividends declared with respect to such Shares of Restricted Stock, such that
the dividends and/or the Shares of Restricted Stock maintain eligibility for the
Performance-Based Exception. In the event that any dividend constitutes a
derivative security or an equity security pursuant to the rules under Section 16
of the Exchange Act, such dividend shall be subject to a vesting period equal to
the remaining vesting period of the Shares of Restricted Stock with respect to
which the dividend is paid.

     8.7    TERMINATION OF RELATIONSHIP. Each Restricted Stock Award Agreement
shall set forth the extent to which the Participant shall have the right to
receive unvested Shares of Restricted Stock following termination of the
Participant's employment or other relationship with the Company and/or its
Subsidiaries. Such provisions shall be determined in the sole discretion of the
Committee, shall be included in the Award Agreement entered into with each
Participant, need not be uniform among all Shares of Restricted Stock issued
pursuant to the Plan, and may reflect distinctions based on the reasons for
termination, including, but not limited to, termination of employment for Cause
or Good Reason, or reasons relating to the breach or threatened breach of
restrictive covenants; provided, however, that, except in the cases of
terminations connected with a Change of Control and terminations by reason of
death or Disability, the vesting of Shares of Restricted Stock which qualify for
the Performance-Based Exception and which are held by Named Executive Officers
shall not occur prior to the time they otherwise would have, but for the
employment termination. Subject to Article 14, in the event that a Participant's
Restricted Stock Award Agreement does not set forth such termination provisions,
the following termination provisions shall apply:

            (a)   In the event a Participant's employment, consulting
     arrangement or other affiliation with the Company and/or its Subsidiaries
     is terminated for any reason other than death or Disability, all Shares of
     Restricted Stock which are unvested at the date of termination shall be
     forfeited to the Company.

            (b)   Unless the Award qualifies for the Performance-Based
     Exception, in the event a Participant's employment, consulting arrangement
     or other affiliation with the Company and/or its Subsidiaries is terminated
     due to death or Disability, all Shares of Restricted Stock of such
     participant shall immediately become fully vested on the date of
     termination and the restrictions shall lapse.

                                    ARTICLE 9
                    PERFORMANCE UNITS AND PERFORMANCE SHARES

     9.1    GRANT OF PERFORMANCE UNITS/SHARES. Subject to the terms of the Plan,
Performance Units and/or Performance Shares may be granted to Participants in
such amounts and upon such terms, and at any time and from time to time, as
shall be determined by the Committee.

                                       13
<Page>

     9.2    VALUE OF PERFORMANCE UNITS/SHARES. Each Performance Unit shall have
an initial value that is established by the Committee at the time of grant. Each
Performance Share shall have an initial value equal to the Fair Market Value of
a Share on the date of grant. The Committee shall set performance goals in its
discretion which, depending on the extent to which they are met, will determine
the number and/or value of Performance Units/Shares that will be paid out to the
Participant. For purposes of this Article 9, the time period during which the
performance goals must be met shall be referred to as a "Performance Period."

     9.3    EARNING OF PERFORMANCE UNITS/SHARES. Subject to the terms of this
Plan, after the applicable Performance Period has ended, the holder of
Performance Units/Shares shall be entitled to receive payout on the number and
value of Performance Units/Shares earned by the Participant over the Performance
Period, to be determined as a function to the extent to which the corresponding
performance goals have been achieved, as established by the Committee.

     9.4    FORM AND TIMING OF PAYMENT OF PERFORMANCE UNITS/SHARES. (a) Except
as provided below, payment of earned Performance Units/Shares shall be made in a
single lump sum as soon as reasonably practicable following the close of the
applicable Performance Period. Subject to the terms of this Plan, the Committee,
in its sole discretion, may pay earned Performance Units/Shares in the form of
cash or in Shares which have an aggregate Fair Market Value equal to the value
of the earned Performance Units/Shares at the close of the applicable
Performance Period (or in a combination thereof). Such Shares may be granted
subject to any restrictions deemed appropriate by the Committee.

            (b)   At the time of grant or shortly thereafter, the Committee, at
its discretion and in accordance with the terms designated by the Committee, may
provide for a voluntary and/or mandatory deferral of all or any part of an
otherwise earned Performance Unit/Share Award.

            (c)   At the discretion of the Committee, Participants may be
entitled to receive any dividends declared with respect to Shares which have
been earned but not yet distributed to Participants in connection with grants of
Performance Units and/or Performance Shares (such dividends shall be subject to
the same accrual, forfeiture, and payout restrictions as apply to dividends
earned with respect to Shares of Restricted Stock, as set forth in Section 8.6
herein). In addition, Participants may, at the discretion of the Committee, be
entitled to exercise their voting rights with respect to such Shares.

     9.5    TERMINATION OF RELATIONSHIP. Subject to Article 14, in the event a
Participant's employment or other relationship with the Company and/or its
Subsidiaries is terminated during a Performance Period for any reason other than
death, Disability or Retirement, all Performance Units/Shares shall be forfeited
by the Participant to the Company. Subject to Article 14, in the event a
Participant's employment, consulting arrangement or other affiliation with the
Company and/or its Subsidiaries is terminated during a Performance Period due to
death, Disability or Retirement, the Participant shall receive a prorated payout
of the Performance Units/Shares, unless the Committee determines otherwise. The
prorated payout shall be determined by the Committee, shall be based upon the
length of time that the Participant held the Performance Units/Shares during the
Performance Period, and shall further be adjusted based on the achievement of
the pre-established performance goals. Subject to Article 14, unless the
Committee determines otherwise in the event of a termination due to death,
Disability or Retirement payment of earned Performance

                                       11
<Page>

Units/Shares shall be made at the same time as payments are made to Participants
who did not terminate employment during the applicable Performance Period.

     9.6    NONTRANSFERABILITY. Except as otherwise provided in a Participant's
Award Agreement, Performance Units/Shares may not be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated, other than by will or by the
laws of descent and distribution. Further, except as otherwise provided in a
Participant's Award Agreement, a Participant's rights under the Plan shall be
exercisable during the Participant's lifetime only by a Participant or the
Participant's legal representative.

                                   ARTICLE 10
                              PERFORMANCE MEASURES

     (a)    Unless and until the Committee proposes for stockholder vote and
stockholders approve a change in the general performance measures set forth in
this Article 10, the attainment of which may determine the degree of payout
and/or vesting with respect to Awards to Named Executive Officers which are
designed to qualify for the Performance-Based Exception, the performance goals
to be used for purposes of such grants shall be established by the Committee in
writing and stated in terms of the attainment of specified levels of, or
percentage changes in, any one or more of the following measurements: revenue,
primary or fully-diluted earnings per Share, pretax income, cash flow from
operations, total cash flow, return on equity, return on capital, return on
assets, net operating profits after taxes, economic value added, total
stockholder return or return on sales, or any individual performance objective
which is measured solely in terms of quantitative targets related to the Company
or the Company's business, or any combination thereof. In addition, such
performance goals may be based in whole or in part upon the performance of the
Company, a Subsidiary, division and/or other operational unit, under one or more
of such measures.

     (b)    The degree of payout and/or vesting of such Awards designed to
qualify for the Performance-Based Exception shall be determined based upon the
written certification of the Committee as to the extent to which the performance
goals and any other material terms and conditions precedent to such payment
and/or vesting have been satisfied. The Committee shall have the discretion to
adjust the determinations of the degree of attainment of the pre-established
performance goals; provided, however, that the performance goals applicable to
Awards which are designed to qualify for the Performance-Based Exception, and
which are held by Named Executive Officers, may not be adjusted so as to
increase the payment under the Award (the Committee shall retain the discretion
to adjust such performance goals upward, or to otherwise reduce the amount of
the payment and/or vesting of the Award relative to the pre-established
performance goals).

     (c)    In the event that applicable tax and/or securities laws change to
permit Committee discretion to alter the governing performance measures without
obtaining stockholder approval of such changes, the Committee shall have sole
discretion to make such changes without obtaining stockholder approval. In
addition, in the event that the Committee determines that it is advisable to
grant Awards which shall not qualify for the Performance-Based Exception, the
Committee may make such grants without satisfying the requirements of Section
162(m) of the Code and, thus, which use performance measures other than those
specified above.

                                       15
<Page>

                                   ARTICLE 11
                             BENEFICIARY DESIGNATION

     Each Participant under the Plan may, from time to time, name any
beneficiary or beneficiaries (who may be named contingently or successively) to
whom any benefit under the Plan is to be paid in case of his or her death before
he or she receives any or all of such benefit. Each such designation shall
revoke all prior designations by the same Participant, shall be in a form
prescribed by the Company, and will be effective only when filed by the
Participant in writing with the Secretary of the Company during the
Participant's lifetime. In the absence of any such designation, benefits
remaining unpaid at the Participant's death shall be paid to the Participant's
estate.

                                   ARTICLE 12
                                    DEFERRALS

     The Committee may permit a Participant to defer such Participant's receipt
of the payment of cash or the delivery of Shares that would otherwise be due to
such Participant upon the exercise of any Option or by virtue of the lapse or
waiver of restrictions with respect to Restricted Stock, or the satisfaction of
any requirements or goals with respect to Performance Units/Shares. If any such
deferral election is required or permitted, the Committee shall, in its sole
discretion, establish rules and procedures for such payment deferrals.

                                   ARTICLE 13
                   RIGHTS OF EMPLOYEES, CONSULTANTS AND OTHERS

     13.1   EMPLOYMENT, CONSULTING OR OTHER ARRANGEMENTS. Nothing in the Plan
shall interfere with or limit in any way the right of the Company to terminate
any Participant's employment, consulting arrangement or other affiliation at any
time, nor confer upon any Participant any right to continue in the employ of or
consulting arrangement or other affiliation with the Company or any Subsidiary.
For purposes of this Plan, temporary absence from employment because of illness,
vacation, approved leaves of absence, and transfers of employment among the
Company and its Subsidiaries, shall not be considered to terminate employment or
to interrupt continuous employment. Temporary cessation of the provision of
consulting or other services because of illness, vacation or any other reason
approved in advance by the Company shall not be considered a termination of the
consulting or other arrangement or an interruption of the continuity thereof.
Conversion of a Participant's employment relationship to a consulting or other
arrangement shall not result in termination of previously granted Awards.

     13.2   PARTICIPATION. No Employee, consultant or other affiliated Person
shall have the right to be selected to receive an Award under this Plan, or,
having been so selected, to be selected to receive a future Award.

                                   ARTICLE 14
                                CHANGE OF CONTROL

     Upon the occurrence of a Change of Control, unless otherwise specifically
prohibited under applicable laws, or by the rules and regulations of any
governing governmental agencies or national securities exchanges:

                                       16
<Page>

            (a)   Any and all Options and SARs granted hereunder shall become
     immediately exercisable, and shall remain exercisable throughout their
     entire term;

            (b)   Any Period of Restriction and other restrictions imposed on
     Restricted Shares shall lapse; and

            (c)   Unless otherwise specified in a Participant's Award Agreement
     at time of grant, the maximum payout opportunities attainable under all
     outstanding Awards of Performance Units and Performance Shares shall be
     deemed to have been fully earned for the entire Performance Period(s) as of
     the effective date of the Change of Control. The vesting of all such Awards
     shall be accelerated as of the effective date of the Change of Control, and
     in full settlement of such Awards, there shall be paid out in cash to
     Participants within thirty (30) days following the effective date of the
     Change of Control the maximum of payout opportunities associated with such
     outstanding Awards.

                                   ARTICLE 15
                     AMENDMENT, MODIFICATION AND TERMINATION

     15.1   AMENDMENT, MODIFICATION AND TERMINATION. The Board may at any time
and from time to time, alter, amend, suspend or terminate the Plan in whole or
in part, subject to any requirement of stockholder approval imposed by
applicable law, rule or regulation.

     15.2   AWARDS PREVIOUSLY GRANTED. No termination, amendment, or
modification of the Plan shall adversely affect in any material way any Award
previously granted under the Plan, without the written consent of the
Participant holding such Award.

                                   ARTICLE 16
                                   WITHHOLDING

     16.1   TAX WITHHOLDING. The Company shall have the power and the right to
deduct or withhold, or require a Participant to remit to the Company, an amount
sufficient to satisfy federal, state, and local taxes, domestic or foreign,
required by law or regulation to be withheld with respect to any taxable event
arising as a result of the Plan.

     16.2   SHARE WITHHOLDING. With respect to withholding required upon the
exercise of Options or SARs, upon the lapse of restrictions on Restricted Stock,
or upon any other taxable event arising as a result of Awards granted hereunder,
Participants may elect, subject to the approval of the Committee, to satisfy the
withholding requirement, in whole or in part, by having the Company withhold
Shares having a Fair Market Value on the date the tax is to be determined equal
to the minimum statutory total tax which would be imposed on the transaction.
All such elections shall be irrevocable, made in writing, signed by the
Participant, and shall be subject to any restrictions or limitations that the
Committee, in its sole discretion, deems appropriate.

                                       17
<Page>

                                   ARTICLE 17
                                   SUCCESSORS

     All obligations of the Company under the Plan with respect to Awards
granted hereunder shall be binding on any successor to the Company, whether the
existence of such successor is the result of a direct or indirect merger,
consolidation, purchase of all or substantially all of the business and/or
assets of the Company or otherwise.

                                   ARTICLE 18
                               LEGAL CONSTRUCTION

     18.1   GENDER AND NUMBER. Except where otherwise indicated by the context,
any masculine term used herein also shall include the feminine, the plural shall
include the singular and the singular shall include the plural.

     18.2   SEVERABILITY. In the event any provision of the Plan shall be held
illegal or invalid for any reason, the illegality or invalidity shall not affect
the remaining parts of the Plan, and the Plan shall be construed and enforced as
if as if the illegal or invalid provision had not been included.

     18.3   REQUIREMENTS OF LAW. The granting of Awards and the issuance of
Shares under the Plan shall be subject to all applicable laws, rules, and
regulations, and to such approvals by any governmental agencies or national
securities exchanges as may be required.

     18.4   SECURITIES LAW COMPLIANCE. With respect to Insiders, transactions
under this Plan are intended to comply with all applicable conditions of Rule
16b-3 or its successors under the Exchange Act. To the extent any provision of
the Plan or action by the Committee fails to so comply, it shall be deemed null
and void, to the extent permitted by law and deemed advisable by the Committee.

     18.5   GOVERNING LAW. To the extent not pre-empted by federal law, the
Plan, and all agreements hereunder, shall be construed in accordance with and
governed by the laws of the State of Delaware.

                               *      *      *<Page>

                                                                   EXHIBIT 10.23

                                 LKQ CORPORATION

                                401(k) PLUS PLAN

<Page>

                                 LKQ CORPORATION
                                401(k) PLUS PLAN

                                TABLE OF CONTENTS

<Table>
<Caption>
                                                                            PAGE
<S>                                                                            <C>
1. INTRODUCTION................................................................1
         1.1. Adoption and Name of Plan........................................1
         1.2. Purposes of Plan.................................................1
         1.3. "Top Hat" Pension Benefit Plan...................................1
         1.4. Plan Unfunded....................................................1
         1.5. Effective Date...................................................1
         1.6. Administration...................................................1

2. DEFINITIONS AND CONSTRUCTION................................................1
         2.1. Definitions......................................................1
                  2.1.1. Account...............................................2
                  2.1.2. Affiliate.............................................2
                  2.1.3. Base Salary...........................................2
                  2.1.4. Base Salary Deferral..................................2
                  2.1.5. Beneficiary...........................................2
                  2.1.6. Board.................................................2
                  2.1.7. Bonus Compensation....................................2
                  2.1.8. Bonus Deferral........................................2
                  2.1.9. Code..................................................2
                  2.1.10. Committee............................................3
                  2.1.11. Commissions..........................................3
                  2.1.12. Commission Deferral..................................3
                  2.1.13. Company..............................................3
                  2.1.14. Company Profit Sharing Contribution..................3
                  2.1.15. Deferral.............................................3
                  2.1.16. Deferral Period......................................3
                  2.1.17. Director.............................................3
                  2.1.18. Effective Date.......................................3
                  2.1.19. Employee.............................................4
                  2.1.20. ERISA................................................4
                  2.1.21. 401(k) Plan..........................................4
                  2.1.22. Matching Contribution................................4
                  2.1.23. Other Company Contribution...........................4
                  2.1.24. Participant..........................................4
                  2.1.25. Participation Agreement..............................4
                  2.1.26. Plan.................................................4
                  2.1.27. Plan Year............................................4
                  2.1.28. Retirement Date......................................5
                  2.1.29. Valuation Date.......................................5
                  2.1.30. Year of Service......................................5
         2.2. Number and Gender................................................5
         2.3. Headings.........................................................5

3. PARTICIPATION AND ELIGIBILITY...............................................5
         3.1. Participation....................................................5
         3.2. Commencement of Participation....................................6
</Table>

                                        i
<Page>

<Table>
<Caption>

<S>                                                                           <C>
         3.3. Cessation of Active Participation................................6

4. DEFERRALS, MATCHING AND COMPANY CONTRIBUTIONS...............................6
         4.1. Deferrals by Participants........................................6
         4.2. Effective Date of Participation Agreement........................7
         4.3. Modification or Revocation of Election by Participant............7
         4.4. Matching Contributions...........................................7
         4.5. Company Profit Sharing Contribution..............................7
         4.6. Other Company Contributions......................................7
         4.7. Hardship Distribution Under 401(k) Plan..........................7

5. VESTING, DEFERRAL PERIODS AND INVESTMENT ELECTIONS..........................7
         5.1. Vesting..........................................................7
         5.2. Election of In-Service Distribution..............................8
         5.3. Investment Elections.............................................8

6. ACCOUNTS....................................................................9
         6.1. Establishment of Bookkeeping Accounts............................9
         6.2. Subaccounts......................................................9
         6.3. Hypothetical Nature of Accounts..................................9

7. PAYMENT OF ACCOUNT..........................................................9
         7.1. Timing of Distribution of Benefits...............................9
         7.2. Time of Distribution and Valuation..............................10
         7.3. Form of Payment or Payments.....................................10
         7.4. Accelerated Distribution........................................11
         7.5. Designation of Beneficiaries....................................11
         7.6. Amendments......................................................11
         7.7. Change in Marital Status........................................11
         7.8. No Beneficiary Designation......................................12
         7.9. Unclaimed Benefits..............................................12
         7.10. Hardship Withdrawals...........................................12
         7.11. Withholding....................................................13

8. ADMINISTRATION.............................................................13
         8.1. Committee.......................................................13
         8.2. General Powers of Administration................................13
         8.3. Indemnification of Committee....................................14

9. DETERMINATION OF BENEFITS, CLAIMS PROCEDURE AND ADMINISTRATION.............14
         9.1. Claims..........................................................14
         9.2. Claim Decision..................................................14
         9.3. Request for Review..............................................14
         9.4. Review of Decision..............................................15
         9.5. Discretionary Authority.........................................15

10. MISCELLANEOUS.............................................................15
         10.1. Plan Not a Contract of Employment..............................15
         10.2. Non-Assignability of Benefits..................................15
         10.3. Amendment and Termination......................................16
         10.4. Unsecured General Creditor Status Of Employee..................16
         10.5. Severability...................................................16
         10.6. Governing Laws.................................................16
         10.7. Binding Effect.................................................17
</Table>

                                       ii
<Page>

<Table>
<Caption>

         <S>                                                                  <C>
         10.8. Entire Agreement...............................................17
         10.9. No Guarantee of Tax Consequences...............................17
         10.10. Sole Obliger..................................................17
</Table>

                                       iii
<Page>

                                 LKQ CORPORATION
                                401(k) PLUS PLAN

1.       INTRODUCTION

         1.1.     ADOPTION AND NAME OF PLAN.

                  The Company adopts the LKQ Corporation 401(k) Plus Plan.

         1.2.     PURPOSES OF PLAN.

                  The purposes of the Plan are to provide deferred compensation
         for a select group of management or highly compensated Employees of the
         Company and to permit them to maximize their elective contributions to
         the 401(k) Plan notwithstanding certain Code limitations.

         1.3.     "TOP HAT" PENSION BENEFIT PLAN.

                  The Plan is an "employee pension benefit plan" within the
         meaning of ERISA Section 3(2). The Plan is maintained, however, only
         for a select group of management or highly compensated employees and,
         therefore, is exempt from Parts 2, 3 and 4 of Title 1 of ERISA. The
         Plan is not intended to qualify under Code Section 401(a).

         1.4.     PLAN UNFUNDED.

                  The Plan is unfunded. All benefits will be paid from the
         general assets of the Company, which will continue to be subject to the
         claims of the Company's creditors. No amounts will be set aside for the
         benefit of Plan Participants or their Beneficiaries.

         1.5.     EFFECTIVE DATE.

                  The Plan is effective as of the Effective Date.

         1.6.     ADMINISTRATION.

                  The Plan shall be administered by the Committee.

2.       DEFINITIONS AND CONSTRUCTION

         2.1.     DEFINITIONS.

                  For purposes of the Plan, the following words and phrases
         shall have the respective meanings set forth below, unless the context
         clearly requires a different meaning:

                                        1
<Page>

                  2.1.1.   ACCOUNT.

                           "Account" means the bookkeeping account maintained on
                  behalf of each Participant pursuant to Section 6.1.

                  2.1.2.   AFFILIATE.

                           "Affiliate" means any entity that directly, or
         indirectly through one or more intermediaries, controls or is
         controlled by, or is under common control with, LKQ
         Corporation.

                  2.1.3.   BASE SALARY.

                           "Base Salary" means the base rate of cash
                  compensation paid by the Company to or for the benefit of a
                  Participant for services rendered.

                  2.1.4.   BASE SALARY DEFERRAL.

                           "Base Salary Deferral" means the amount of a
                  Participant's Base Salary which the Participant elects to have
                  withheld on a pre-tax basis and credited to his Account
                  pursuant to Section 4.1.

                  2.1.5.   BENEFICIARY.

                           "Beneficiary" means the person or persons designated
                  by the Participant in accordance with Section 7.5 or, in the
                  absence of an effective designation, the person or entity
                  described in Section 7.8.

                  2.1.6.   BOARD.

                           "Board" means the board of directors of LKQ
                  Corporation.

                  2.1.7.   BONUS COMPENSATION.

                           "Bonus Compensation" means the amount awarded to a
                  Participant under any bonus arrangement maintained by the
                  Company.

                  2.1.8.   BONUS DEFERRAL.

                           "Bonus Deferral" means the amount of a Participant's
                  Bonus Compensation which the Participant elects to have
                  withheld on a pre-tax basis and credited to his account
                  pursuant to Section 4.1.

                  2.1.9.   CODE.

                           "Code" means the Internal Revenue Code of 1986, as
                  amended.

                                        2
<Page>

                  2.1.10.  COMMITTEE.

                           "Committee" means the administrative committee
                  appointed by the Board to administer the Plan in accordance
                  with Section 8.

                  2.1.11.  COMMISSIONS.

                           "Commissions" means remuneration paid by the Company
                  to a Participant based on sales of the Company's products
                  and/or services made by the Participant or individuals under
                  his supervision.

                  2.1.12.  COMMISSION DEFERRAL.

                           "Commission Deferral" means the amount of a
                  Participant's Commissions which the Participant elects to have
                  withheld on a pre-tax basis and credited to his Account
                  pursuant to Section 4.1.

                  2.1.13.  COMPANY.

                           "Company" means LKQ Corporation and any Affiliate.

                  2.1.14.  COMPANY PROFIT SHARING CONTRIBUTION.

                           "Company Profit Sharing Contribution" means the
                  contribution made by the Company for a Participant which is
                  based on the Participant's Base Salary, Bonus, and
                  Commissions.

                  2.1.15.  DEFERRAL.

                           "Deferral" means a Base Salary Deferral, Bonus
                  Deferral and/or a Commission Deferral.

                  2.1.16.  DEFERRAL PERIOD.

                           "Deferral Period" means the period of time for which
                  a Participant elects to defer receipt of the Deferrals
                  credited to such Participant's Account as specified in Section
                  5.2. Deferral Periods shall be measured on the basis of Plan
                  Years, beginning with the Plan Year that commences immediately
                  following the Plan Year for which the applicable Deferrals are
                  credited to the Participant's Account.

                  2.1.17.  DIRECTOR.

                           "Director" means a director of the Company.

                  2.1.18.  EFFECTIVE DATE.

                           "Effective Date" means August 1, 1999.

                                        3
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                  2.1.19.  EMPLOYEE.

                           "Employee" means any common-law employee of the
                  Company.

                  2.1.20.  ERISA.

                           "ERISA" means the Employee Retirement Income Security
                  Act of 1974, as amended.

                  2.1.21.  401(k) PLAN.

                           "401(k) Plan" means the LKQ Corporation Employees'
                  Retirement Plan, as amended from time to time.

                  2.1.22.  MATCHING CONTRIBUTION.

                           "Matching Contribution" means the contribution made
                  by the Company for a Participant based on a Deferral made by
                  the Participant.

                  2.1.23.  OTHER COMPANY CONTRIBUTION.

                           "Other Company Contribution" means the contribution
                  made by the Company for a Participant which is based on such
                  criteria as the Company shall determine.

                  2.1.24.  PARTICIPANT.

                           "Participant" means each Employee who has been
                  selected for participation in the Plan and who has become a
                  Participant pursuant to Section 3.

                  2.1.25.  PARTICIPATION AGREEMENT.

                           "Participation Agreement" means the written agreement
                  pursuant to which the Participant elects the amount of his
                  Base Salary, Bonus Compensation, and/or Commissions to be
                  deferred pursuant to the Plan, the Deferral Period, the deemed
                  investment of amounts credited to his Account, the amount of
                  Deferrals which are distributed pursuant to Section 7.1(a) to
                  be contributed to the 401(k) Plan, and such other matters as
                  the Committee shall determine from time to time.

                  2.1.26.  PLAN.

                           "Plan" means the LKQ Corporation 401(k) Plus Plan, as
                  amended from time to time.

                  2.1.27.  PLAN YEAR.

                           "Plan Year" means the twelve-consecutive month period
                  commencing January 1 of each year ending on December 31.
                  Notwithstanding the foregoing, the first Plan Year shall begin
                  on the Effective Date and end on December 31, 1999.

                                        4
<Page>

                  2.1.28.  RETIREMENT DATE.

                           "Retirement Date" means the date a Participant

                           (a)    voluntarily terminates his employment with the
                           Company

                                  (i)    on or after he has attained at least 65
                           years of age,

                                  (ii)   on or after he has attained 55 years of
                           age and completed at least 10 Years of Service, or

                                  (iii)  with the Committee's consent; or

                           (b)    qualifies for disability under the Company's
                  group long-term disability plan.

                  2.1.29.  VALUATION DATE.

                           "Valuation Date" means the last business day of each
                  calendar month and each special valuation date designated by
                  the Committee.

                  2.1.30.  YEAR OF SERVICE.

                           "Year of Service" has the same meaning as in the
                  401(k) Plan for purposes of vesting.

         2.2.     NUMBER AND GENDER.

                  Wherever appropriate, words used in the singular shall be
         considered to include the plural and words used in the plural shall be
         considered to include the singular. The masculine gender, where
         appearing in the Plan, shall be deemed to include the feminine gender.

         2.3.     HEADINGS.

                  The headings are included solely for convenience, and if there
         is any conflict between any heading and the text of the Plan, the Plan
         text shall control.

3.       PARTICIPATION AND ELIGIBILITY

         3.1.     PARTICIPATION.

                  Participants in the Plan are those Employees who are (a)
         subject to the income tax laws of the United States, (b) members of a
         select group of highly compensated or management Employees, and (c)
         selected by the Committee, in its sole discretion, as Participants. The
         Committee shall notify each Participant of his selection as a
         Participant. Subject to the provisions of Section 3.3 a Participant
         shall remain eligible to continue

                                        5
<Page>

         participation in the Plan for each Plan Year following his initial year
         of selection to participate in the Plan.

         3.2.     COMMENCEMENT OF PARTICIPATION.

                  Except as provided in the following sentences, an Employee
         shall become a Participant effective as of the first day of the Plan
         Year following the date on which his Participation Agreement becomes
         effective. A newly eligible Employee (because of hire or promotion) who
         completes a Participation Agreement within thirty (30) days of the date
         on which his employment commences or the effective date of his
         promotion, as the case may be, shall become a Participant as of the
         date on which his Participation Agreement becomes effective under
         Section 4.2.

         3.3.     CESSATION OF ACTIVE PARTICIPATION

                  Notwithstanding any provision of the Plan to the contrary, an
         individual who has become a Participant in the Plan shall cease to be a
         Participant effective as of any date designated by the Committee. In
         the event of such cessation, the last sentence of Section 4.1 shall
         apply as if such cessation had been a termination of employment. Any
         such Committee action shall be communicated to such Participant prior
         to the effective date of such action. Such cessation shall have no
         effect upon amounts then credited to his Account and shall not preclude
         the individual from subsequently being selected to be a Participant.

4.       DEFERRALS, MATCHING AND COMPANY CONTRIBUTIONS

         4.1.     DEFERRALS BY PARTICIPANTS.

                  Before the first day of each Plan Year, a Participant may file
         with the Committee a Participation Agreement pursuant to which such
         Participant elects to make Deferrals. The minimum Deferral for a Plan
         Year is Two Thousand Dollars ($2000.00). The minimum Deferral shall be
         prorated for any Plan Year in which an individual is not a Participant
         for twelve (12) months based on full months of participation. Deferrals
         must be in whole percentages and cannot exceed

                  (a)      fifty percent (50%) of Base Salary,

                  (b)      one hundred percent (100%) of Commissions, and

                  (c)      one hundred percent (100%) of Bonus Compensation.

         In addition, a Participant's maximum aggregate Deferrals for a Plan
         Year shall not exceed such amount as the Committee shall determine from
         time to time. Any Participant election shall be subject to rules
         prescribed by the Committee. Deferrals will be credited to the Account
         of each Participant at the time they would have been paid to the
         Participant in cash but for the election to defer. If a Participant's
         employment has terminated when a Deferral would otherwise be credited
         to his Account, the amount which would have been deferred and credited
         will be paid to him in cash.

                                        6
<Page>

         4.2.     EFFECTIVE DATE OF PARTICIPATION AGREEMENT.

                  A Participant's Participation Agreement shall become effective
         on the first day of the Plan Year to which it relates. The
         Participation Agreement of Employees who are first eligible during a
         Plan Year shall become effective as of the first day of the month
         following completion of a Participation Agreement provided the
         Participation Agreement is completed within thirty (30) days of the
         date the Employee first becomes eligible. Participation Agreements
         shall relate only to compensation earned after such agreement is
         completed and executed. If a Participant fails to complete a
         Participation Agreement before the first day of the Plan Year in which
         Participant shall earn the compensation to which the Participation
         Agreement relates, the Participant shall be deemed to have elected not
         to make any Deferrals for such Plan Year.

         4.3.     MODIFICATION OR REVOCATION OF ELECTION BY PARTICIPANT.

                  A Participant may change his Deferrals at any time during a
         Plan Year on a prospective basis if the Committee determines that he
         has suffered a severe, sudden and unforeseeable hardship as is more
         fully described in Section 7.10. Under no circumstances may a
         Participant's Participation Agreement be made, modified or revoked
         retroactively.

         4.4.     MATCHING CONTRIBUTIONS.

                  For each Plan Year, the Account of each Participant shall be
         credited with a Matching Contribution equal to such amount, if any, as
         the Company shall determine.

         4.5.     COMPANY PROFIT SHARING CONTRIBUTION.

                  For each Plan Year, the Account of each Participant shall be
         credited with a Company Contribution equal to such amount, if any, as
         the Company shall determine.

         4.6.     OTHER COMPANY CONTRIBUTIONS.

                  For each Plan Year, the Account of each Participant shall be
         credited with an Other Company Contribution equal to such amount, if
         any, as the Company shall determine.

         4.7.     HARDSHIP DISTRIBUTION UNDER 401(k) PLAN.

                  If required by the terms of the 401(k) Plan, a Participant who
         receives a hardship distribution under the 401(k) Plan shall not be
         eligible to make Deferrals for a one (1) year period after receipt of
         the hardship distribution.

5.       VESTING, DEFERRAL PERIODS AND INVESTMENT ELECTIONS

         5.1.     VESTING.

                  A Participant shall be 100% vested at all times in the amount
         credited to his Account which is attributable to his Deferrals. The
         amount credited to his Account

                                        7
<Page>

         attributable to Matching Contributions and Company Profit Sharing
         Contributions shall vest in accordance with the vesting provisions of
         the 401(k) Plan applicable to the vesting of matching and profit
         sharing contributions, respectively. The amount credited to a
         Participant's Account attributable to Other Company Contributions for
         each Plan Year shall vest in accordance with the schedule determined by
         the Committee from time to time. Such determination for a Plan Year
         shall be made no later than the time the Other Company Contribution, if
         any, for the Plan Year is determined. In addition, to the extent not
         already vested, amounts credited to a Participant's Account
         attributable to Matching Contributions, Company Profit Sharing
         Contributions, and Other Company Contributions shall be fully vested
         upon a Participant's Retirement Date or his death while employed. All
         provisions of the Plan relating to the distribution of a Participant's
         Account shall mean only the vested portion of such Account. Since the
         Plan is unfunded, the portion of a Participant's Account which is not
         vested and therefore not distributed with the vested portion of his
         Account shall remain property of the Company and not be allocated to
         Accounts of other Participants or otherwise inure to their benefit.

         5.2.     ELECTION OF IN-SERVICE DISTRIBUTION.

                  If a Participant desires an in-service distribution of all or
         a percentage of his Deferrals for a Plan Year and earnings on such
         Deferrals, he must so elect on his Participation Agreement. In the case
         of any such election, the Deferral Period must be for at least five (5)
         years. If the Participant elects an in-service distribution and is
         entitled to such a distribution pursuant to such election prior to any
         event listed in Section 7.1(b), distribution pursuant to such election
         shall not include Matching Contributions, Company Profit Sharing
         Contributions, Other Company Contributions, and earnings on such
         contributions and must be in a lump sum.

         5.3.     INVESTMENT ELECTIONS.

                  Amounts credited to a Participant's Account shall be credited
         and charged with gains and losses, as the case may be, based on
         hypothetical investments elected by the Participant. A Participant may
         elect different investment allocations for new contributions and
         existing Account balances. Only whole percentages may be elected, the
         minimum percentage for any allocation is ten percent (10%), and the
         total elections must allocate one hundred percent (100%) of all new
         contributions and one hundred percent (100%) of all existing Account
         balances. Investment elections may be changed once per calendar
         quarter, effective as of the first day of such quarter, by written
         direction given at least seven (7) days before the start of such
         quarter. The hypothetical investment alternatives and the procedures
         relating to the election of such investments, other than those set
         forth in this Section 5.3, shall be determined by the Committee from
         time to time. A Participant's Account shall be adjusted as of each
         Valuation Date to reflect investment gains and losses.

                                        8
<Page>

6.       ACCOUNTS

         6.1.     ESTABLISHMENT OF BOOKKEEPING ACCOUNTS.

                  A separate bookkeeping Account shall be maintained for each
         Participant. Such account shall be credited with the Deferrals,
         Matching Contributions, Company Profit Sharing Contributions, and Other
         Company Contributions, credited (or charged, as the case may be) with
         the hypothetical investment results determined pursuant to Section 5.3,
         and charged with distributions made to or with respect to a
         Participant.

         6.2.     SUBACCOUNTS.

                  Within each Participant's bookkeeping Account, separate
         subaccounts shall be maintained to the extent necessary for the
         administration of the Plan.

         6.3.     HYPOTHETICAL NATURE OF ACCOUNTS.

                  The Account established under this Section 6 shall be
         hypothetical in nature and shall be maintained for bookkeeping purposes
         only, so that Deferrals, Matching Contributions, and Company Profit
         Sharing Contributions, and Other Company Contributions can be credited
         to the Participant and so that gains and losses on such amounts so
         credited can be credited (or charged, as the case may be). Neither the
         Plan nor any of the Accounts (or subaccounts) shall hold any actual
         funds or assets. The right of any person to receive one or more
         payments under the Plan shall be an unsecured claim against the general
         assets of the Company. Any liability of the Company to any Participant,
         former Participant, or Beneficiary with respect to a right to payment
         shall be based solely upon contractual obligations created by the Plan.
         Neither the Company, the Board, nor any other person shall be deemed to
         be a trustee of any amounts to be paid under the Plan. Nothing
         contained in the Plan, and no action taken pursuant to its provisions,
         shall create or be construed to create a trust of any kind, or a
         fiduciary relationship, between the Company and a Participant, former
         Participant, Beneficiary, or any other person.

7.       PAYMENT OF ACCOUNT

         7.1.     TIMING OF DISTRIBUTION OF BENEFITS.

                  (a)      DISTRIBUTION OF CONTRIBUTION TO 401(k) PLAN. As soon
         as practicable, but in no event later than March 15 of the Plan Year
         following the Plan Year for which the Participant executed the
         Participation Agreement, the lesser of (i) the allowable before-tax
         contribution which may be made on behalf of the Participant to the
         401(k) Plan for the Plan Year for which the Participant executed the
         Participation Agreement, and (ii) the sum of the Base Salary Deferrals,
         Bonus Deferrals and Commission Deferrals for the Plan Year for which
         the Participant executed such Participation Agreement, shall be paid
         directly to Participant as compensation earned in the Plan Year for
         which the Participant executed the Participation Agreement, unless the
         Participant previously elected (in both the Participation Agreement and
         his 401(k) Plan elections) to have such amount contributed to the
         401(k) Plan as an elective before-tax contribution. If the Participant
         elected to have such amount contributed to the 401(k)

                                        9
<Page>

         Plan as an elective before-tax contribution, such amount together with
         an amount equal to the applicable Matching Contributions (but not in
         excess of the matching contributions that would have been made on such
         amounts under the 401(k) Plan) shall be distributed directly to the
         Participant's Account in the 401(k) Plan. and the appropriate
         subaccounts of Participant's Account shall be debited accordingly.
         Notwithstanding the preceding, the Plan shall not make distributions to
         the Participant or to the 401(k) Plan in excess of the Participant's
         Account balance. Distributions pursuant to this Section 7.1(a) may be
         made in one or more installments.

                  (b)      DISTRIBUTION AFTER DEFERRAL PERIOD OR TERMINATION OF
         EMPLOYMENT. Distribution of that portion of a Participant's Account
         which is not distributed under Section 7.1(a) and for which an
         in-service distribution has been elected pursuant to Section 5.2 shall
         be made at the time specified in such election unless the Participant's
         employment terminates prior to such time, in which event the remaining
         provisions of this Section 7.1(b), shall apply. Except as provided
         below, a Participant's entire Account shall be distributed to him (or
         his Beneficiary in the event of his death) following the earliest to
         occur of the following:

                           (i)    the Participant's death;

                           (ii)   the Participant's Retirement Date; or

                           (iii)  the Participant's other termination of
                                  employment.

         Notwithstanding the foregoing, if a Participant's Retirement Date is as
         defined in Section 2.1.28(b), if requested by the Participant and
         permitted by the Committee, distribution may be deferred up until the
         earlier of the dates specified in Section 2.1.28(a)(i) or Section
         2.1.28(a)(ii) or the Participant's death.

         7.2.     TIME OF DISTRIBUTION AND VALUATION.

                  Upon a distributable event described in Section 7.1(b), the
         balance of a Participant's Account shall be determined as of the
         Valuation Date immediately following such event. Distribution will be
         made or begin to be made as soon as practical after such valuation or
         60 days following the event, whichever shall last occur.

         7.3.     FORM OF PAYMENT OR PAYMENTS.

                  If the value of the Participant's Account as of the Valuation
         Date described in Section 7.2 is at least Five Thousand Dollars
         ($5,000.00), benefits which become payable after the Participant's
         Retirement Date or his death shall be paid in the form elected by the
         Participant. The form elected shall apply to the entire Account. The
         election may be amended, provided that the amended election does not
         increase the duration of payments in the previous election and the
         election is made no later than six (6) months prior to his Retirement
         Date or death. The forms of distribution are:

                                       10
<Page>

                  (a)      A lump sum amount; or

                  (b)      Substantially equal monthly installments over a
         period of sixty (60), one hundred twenty (120), or one hundred eighty
         (180) months or substantially equal annual installments over a period
         of five (5), ten (10), or fifteen (15) years. Gains and losses on the
         unpaid balance shall continue to be credited and charged to subaccounts
         in accordance with the provisions of Section 5.3. In all cases other
         than those described in the first sentence of this Section 7.3, the
         form of benefit shall be a lump sum. If a former Participant is
         receiving an installment form of distribution and dies prior to the
         distribution of his entire Account, distributions will be continued to
         his Beneficiary.

         7.4.     ACCELERATED DISTRIBUTION.

                  Notwithstanding any other provision of the Plan, a Participant
         shall be entitled to receive, upon written request to the Committee, a
         lump sum distribution of his Account balance, valued as of the end of
         the month, immediately prior to the month in which such request is made
         subject to a penalty of ten percent (10%) of such balance which shall
         be forfeited. A Participant who receives a distribution under this
         Section 7.4 shall not be eligible to make Deferrals until the first day
         of the second Plan Year which begins after such distribution. The
         amount payable under this section shall be paid in a lump sum as soon
         as practical following the receipt of the Participant's written request
         by the Committee and the valuation of his Account.

         7.5.     DESIGNATION OF BENEFICIARIES.

                  Each Participant shall have the right, at any time, to
         designate one (1) or more persons or an entity as Beneficiary (both
         primary as well as secondary) to whom benefits under this Plan shall be
         paid in the event of a Participant's death prior to complete
         distribution of the Participant's Account. Each Beneficiary designation
         shall be in a written form prescribed by the Committee and will be
         effective only when filed with the Committee during the Participant's
         lifetime. Designation by a married Participant who is a resident of a
         community property state of a Beneficiary other than the Participant's
         spouse shall not be effective unless the spouse executes a written
         consent that acknowledges the effect of the designation and is
         witnessed by a notary public, or the consent cannot be obtained because
         the spouse cannot be located.

         7.6.     AMENDMENTS.

                  Except as provided below, any nonspousal designation of
         Beneficiary may be changed by a Participant without the consent of such
         Beneficiary by the filing of a new designation with the Committee. The
         filing of a new designation shall cancel all designations previously
         filed.

         7.7.     CHANGE IN MARITAL STATUS.

                  If the marital status of a Participant residing in a community
         property state changes after the Participant has designated a
         Beneficiary, the following shall apply:

                                       11
<Page>

                  (a)      If the Participant is married at death but was
         unmarried when the designation was made, the designation shall be void
         unless the spouse has consented to it in the manner prescribed above.

                  (b)      If the Participant is unmarried at death but was
         married when the designation was made:

                           (i)    The designation shall be void if the spouse
                  was named as Beneficiary.

                           (ii)   The designation shall remain valid if a
                  nonspouse Beneficiary was named.

                  (c)      If the Participant was married when the designation
         was made and is married to a different spouse at death, the designation
         shall be void unless the new spouse has consented to it in the manner
         prescribed above

         7.8.     NO BENEFICIARY DESIGNATION.

                  If any Participant fails to designate a Beneficiary in the
         manner provided above, or if the Beneficiary designated by a deceased
         Participant dies before the Participant or before complete distribution
         of the Participant's benefits, the Participant's Beneficiary shall be
         the person in the first of the following classes in which there is a
         survivor:

                           (a)    The Participant's surviving spouse;

                           (b)    The Participant's children in equal shares,
                  except that if any of the children predeceases the Participant
                  but leaves issue surviving, then such issue shall take by
                  right of representation the share the parent would have taken
                  if living;

                           (c)    The Participant's estate.

         7.9.     UNCLAIMED BENEFITS.

                  In the case of a benefit payable on behalf of such
         Participant, if the Committee is unable to locate the Participant or
         beneficiary to whom such benefit is payable, such benefit may be
         forfeited to the Company, upon the Committee's determination.
         Notwithstanding the foregoing, if subsequent to any such forfeiture the
         Participant or beneficiary to whom such benefit is payable makes a
         valid claim for such benefit, such forfeited benefit shall be paid by
         the Company or restored to the Plan by the Company.

         7.10.    HARDSHIP WITHDRAWALS.

                  A Participant may apply in writing to the Committee for, and
         the Committee may permit, a hardship withdrawal of all (valued as of
         the last day of the month prior to the month in which the application
         is made) or any part of a Participant's Account if the Committee, in
         its sole discretion, determines that the Participant has incurred a
         severe

                                       12
<Page>

         financial hardship resulting from a sudden and unexpected illness or
         accident of the Participant or of a dependent (as defined in section
         152(a) of the Code) of the Participant, loss of the Participant's
         property due to casualty, or other similar extraordinary and
         unforeseeable circumstances arising as a result of events beyond the
         control of the Participant, as determined by the Committee, in its sole
         and absolute discretion. The amount that may be withdrawn shall be
         limited to the amount reasonably necessary to relieve the hardship or
         financial emergency upon which the request is based, plus the federal
         and state taxes due on the withdrawal, as determined by the Committee.
         The Committee may require a Participant who requests a hardship
         withdrawal to submit such evidence as the Committee, in its sole
         discretion, deems necessary or appropriate to substantiate the
         circumstances upon which the request is based. A Participant who
         receives a distribution under this Section 7.10 shall not be eligible
         to make Deferrals until the first day of the second Plan Year which
         begins after such distribution.

         7.11.    WITHHOLDING.

                  All Deferrals and distributions shall be subject to legally
         required income and employment tax withholding. Such taxes shall
         include, but not necessarily be limited to, Social Security taxes on
         Deferrals and Company Contributions at the time they are vested and
         income taxes on distributions.

8.       ADMINISTRATION

         8.1.     COMMITTEE.

                  The Plan shall be administered by a Committee, which shall be
         appointed by and serve at the pleasure of the Board. The Committee
         shall be responsible for the general operation and administration of
         the Plan and for carrying out the provisions thereof. The Committee may
         delegate to others certain aspects of the management and operational
         responsibilities of the Plan including the employment of advisors and
         the delegation of ministerial duties to qualified individuals, provided
         that such delegation is in writing. No member of the Committee who is a
         Participant shall participate in any matter relating to his status as a
         Participant or his rights or entitlement to benefits as a Participant.

         8.2.     GENERAL POWERS OF ADMINISTRATION.

                  The Committee shall have all powers necessary or appropriate
         to enable it to carry out its administrative duties. Not in limitation,
         but in application of the foregoing, the Committee shall have
         discretionary authority to construe and interpret the Plan and
         determine all questions that may arise hereunder as to the status and
         rights of Employees, Participants, and Beneficiaries. The Committee may
         exercise the powers hereby granted in its sole and absolute discretion.
         The Committee may promulgate such regulations as it deems appropriate
         for the operation and administration of the Plan. No member of the
         Committee shall be personally liable for any actions taken by the
         Committee unless the member's action involves gross negligence or
         willful misconduct.

                                       13
<Page>

         8.3.     INDEMNIFICATION OF COMMITTEE.

                  The Company shall indemnify the members of the Committee
         against any and all claims, losses, damages, expenses, including
         attorney's fees, incurred by them, and any liability, including any
         amounts paid in settlement with their approval, arising from their
         action or failure to act, except when the same is judicially determined
         to be attributable to their gross negligence or willful misconduct.

9.       DETERMINATION OF BENEFITS, CLAIMS PROCEDURE AND ADMINISTRATION

         9.1.     CLAIMS.

                  A person who believes that he is being denied a benefit to
         which he is entitled under the Plan (the "Claimant") may file a written
         request for such benefit with the Committee, setting forth his claim.
         The request must be addressed to the Committee at the Company at its
         then principal place of business.

         9.2.     CLAIM DECISION

                  Upon receipt of a claim, the Committee shall advise the
         Claimant that a reply will be forthcoming within ninety (90) days and
         shall, in fact, deliver such reply within such period. The Committee
         may, however, extend the reply period for an additional ninety (90)
         days for reasonable cause.

                  If the claim is denied in whole or in part, the Committee
         shall adopt a written opinion, using language calculated to be
         understood by the Claimant, setting forth:

                           (a)    The specific reason or reasons for such
                  denial;

                           (b)    The specific reference to pertinent
                  provisions of the Plan on which such denial is based;

                           (c)    A description of any additional material or
                  information necessary for the Claimant to perfect his claim
                  and an explanation why such material or such information is
                  necessary;

                           (d)    Appropriate information as to the steps to be
                  taken if the Claimant wishes to submit the claim for review;
                  and

                           (e)    The time limits for requesting a review under
                  Section 9.3 and for review under Section 9.4 hereof.

         9.3.     REQUEST FOR REVIEW.

                  Within sixty (60) days after the receipt by the Claimant of
         the written opinion described above, the Claimant may request in
         writing that the Secretary of the Company

                                       14
<Page>

         (the "Secretary") review the determination of the Committee. Such
         request must be addressed to the Secretary of the Company, at its then
         principal place of business. The Claimant or his duly authorized
         representative may, but need not, review the pertinent documents and
         submit issues and comments in writing for consideration by the
         Secretary. If the Claimant does not request a review of the Committee's
         determination by the Secretary of the Company within such sixty (60)
         day period, he shall be barred and estopped from challenging the
         Committee's determination.

         9.4.     REVIEW OF DECISION.

                  Within sixty (60) days after the Secretary's receipt of a
         request for review, he will review the Committee's determination. After
         considering all materials presented by the Claimant, the Secretary will
         render a written opinion, written in a manner calculated to be
         understood by the Claimant, setting forth the specific reasons for the
         decision and containing specific references to the pertinent provisions
         of the Plan on which the decision is based. If special circumstances
         require that the sixty (60) day time period be extended, the Secretary
         will so notify the Claimant and will render the decision as soon as
         possible, but no later than one hundred twenty (120) days after receipt
         of the request for review.

         9.5.     DISCRETIONARY AUTHORITY.

                  The Committee and Secretary shall both have discretionary
         authority to determine a Claimant's entitlement to benefits upon his
         claim or his request for review of a denied claim, respectively.

10.      MISCELLANEOUS

         10.1.    PLAN NOT A CONTRACT OF EMPLOYMENT.

                  The adoption and maintenance of the Plan shall not be or be
         deemed to be a contract between the Company and any person or to be
         consideration for the employment of any person. Nothing herein
         contained shall give or be deemed to give any person the right to be
         retained in the employ of the Company or to restrict the right of the
         Company to discharge any person at any time; nor shall the Plan give or
         be deemed to give the Company the right to require any person to remain
         in the employ of the Company or to restrict any person's right to
         terminate his employment at any time.

         10.2.    NON-ASSIGNABILITY OF BENEFITS.

                  No Participant, Beneficiary or distributee of benefits under
         the Plan shall have any power or right to transfer, assign, anticipate,
         hypothecate or otherwise encumber any part or all of the amounts
         payable hereunder, which are expressly declared to be unassignable and
         non-transferable. Any such attempted assignment or transfer shall be
         void. No amount payable hereunder shall, prior to actual payment
         thereof, be subject to seizure by any creditor of any such Participant,
         Beneficiary or other distributee for the payment of any debt, judgment,
         or other obligation, by a proceeding at law or in equity, nor
         transferable by

                                       15
<Page>

         operation of law in the event of the bankruptcy, insolvency or death of
         such Participant, Beneficiary or other distributee hereunder.

         10.3.    AMENDMENT AND TERMINATION.

                  The Board may from time to time, in its discretion, amend, in
         whole or in part, any or all of the provisions of the Plan; provided,
         however, that no amendment may be made which would impair the rights of
         a Participant with respect to amounts already allocated to his Account.
         The Board may terminate the Plan at any time. In the event that the
         Plan is terminated, the balance in a Participant's Account shall be
         paid to such Participant or his Beneficiary in a lump sum or in equal
         monthly installments as the Committee determines.

         10.4.    UNSECURED GENERAL CREDITOR STATUS OF EMPLOYEE.

                  The payments to Participant, his Beneficiary or any other
         distributee hereunder shall be made from assets which shall continue,
         for all purposes, to be a part of the general, unrestricted assets of
         the Company; no person shall have nor acquire any interest in any such
         assets by virtue of the provisions of this Agreement. The Company's
         obligation hereunder shall be an unfunded and unsecured promise to pay
         money in the future. To the extent that the Participant, a Beneficiary,
         or other distributee acquires a right to receive payments from the
         Company under the provisions hereof, such right shall be no greater
         than the right of any unsecured general creditor of the Company; no
         such person shall have nor require any legal or equitable right,
         interest or claim in or to any property or assets of the Company. In
         the event that, in its discretion, the Company purchases an insurance
         policy or policies insuring the life of the Participant (or any other
         property) to allow the Company to recover the cost of providing the
         benefits, in whole, or in part, hereunder, neither the Participant, his
         Beneficiary or other distributee shall have nor acquire any rights
         whatsoever therein or in the proceeds therefrom. The Company shall be
         the sole owner and beneficiary of any such policy or policies and, as
         such, shall possess and may exercise all incidents of ownership
         therein. No such policy, policies or other property shall be held in
         any trust for a Participant, Beneficiary or other distributee or held
         as collateral security for any obligation of the Company hereunder.

         10.5.    SEVERABILITY.

                  If any provision of this Plan shall be held illegal or invalid
         for any reason, said illegality or invalidity shall not affect the
         remaining provisions hereof; instead, each provision shall be fully
         severable and the Plan shall be construed and enforced as if said
         illegal or invalid provision had never been included herein.

         10.6.    GOVERNING LAWS.

                  All provisions of the Plan shall be construed in accordance
         with the laws of Illinois except to the extent preempted by federal
         law.

                                       16
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         10.7.    BINDING EFFECT.

                  This Plan shall be binding on each Participant and his heirs
         and legal representatives and on the Company and its successors and
         assigns.

         10.8.    ENTIRE AGREEMENT.

                  This document and any amendments contain all the terms and
         provisions of the Plan and shall constitute the entire Plan, any other
         alleged terms or provisions being of no effect.

         10.9.    NO GUARANTEE OF TAX CONSEQUENCES.

                  While the Company has established, and will maintain the Plan,
         the Company makes no representation, warranty, commitment, or guaranty
         concerning the income, employment, or other tax consequences of
         participation in the Plan under federal, state, or local law.

         10.10.   SOLE OBLIGER.

                  Each Company shall be the sole obliger with respect to Plan
benefits that are owed to a Participant which arise by virtue of contributions
made by such Company or the Participant's employment by such Company.

                  IN WITNESS WHEREOF, the Company has caused this Plan to be
executed on the 1st day of August, 1999.

                                                LKQ CORPORATION

                                                By: /s/ Daniel J. Hemmer
                                                   -----------------------------
                                                Title: Assistant Secretary
                                                      --------------------------

                                       17

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