Document:

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                                                                    Exhibit 10.3

                                 AUTOZONE, INC.
                                      THIRD
                              AMENDED AND RESTATED
                             1996 STOCK OPTION PLAN

         AutoZone, Inc., a corporation organized under the laws of the State of
Nevada, by resolution of the Board of Directors of the Company (the "Board") on
October 21, 1996, and as approved by the stockholders of the Company on December
12, 1996, adopted this AutoZone, Inc. 1996 Stock Option Plan (the "Plan").

         The Compensation Committee of the Board of Directors of the Company by
resolution adopted the First Amended and Restated 1996 Stock Option Plan
effective as of October 21, 1997.

         Further, by resolution of the Compensation Committee on October 20,
1998, and as presented to the stockholders on December 17, 1998, the Second
Amended and Restated 1996 Stock Option Plan was adopted to increase the number
of shares available for grant under the Plan.

         Further, the Compensation Committee on August 26, 2003, by resolution
adopted this Third Amended and Restated 1996 Stock Option Plan to eliminate the
ability to reprice options or to exercise options through a loan from the
Company.

         The purposes of this Plan are as follows:

     (1) To further the growth, development and financial success of the Company
by providing additional incentives to certain of its executive and other key
employees who have been or will be given responsibility for the management or
administration of the Company's business affairs, by assisting them to become
owners of capital stock of the Company and thus to benefit directly from its
growth, development and financial success.

     (2) To enable the Company to obtain and retain the services of the type of
professional, technical and managerial employees considered essential to the
long-range success of the Company by providing and offering them an opportunity
to become owners of capital stock of the Company.

                                    ARTICLE I

                                   Definitions

         Whenever the following terms are used in this Plan, they shall have the
meaning specified below unless the context clearly indicates to the contrary.
The masculine pronoun shall include the feminine and neuter and the singular
shall include the plural, where the context so indicates.

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Section 1.1--Affiliate

         "Affiliate" shall mean any Subsidiary and any limited partnership of
which the Company or any Subsidiary is the general partner.

Section 1.2--Award Limit

         "Award Limit" shall mean 500,000 shares of Common Stock.

Section 1.3--Board

         "Board" shall mean the Board of Directors of the Company.

Section 1.4--Code

         "Code" shall mean the Internal Revenue Code of 1986, as amended.

Section 1.5--Committee

         "Committee" shall mean the Compensation Committee or another committee
of the Board, appointed as provided in Section 6.1.

Section 1.6--Common Stock

         "Common Stock" shall mean the common stock of the Company, par value
$.01 per share, and any equity security of the Company issued or authorized to
be issued in the future, but excluding any preferred stock and any warrants,
options or other rights to purchase Common Stock. Debt securities of the Company
convertible into Common Stock shall be deemed equity securities of the Company.

Section 1.7--Company

         "Company" shall mean AutoZone, Inc. In addition, "Company" shall mean
any corporation assuming, or issuing new employee stock options in substitution
for, Incentive Stock Options, outstanding under the Plan, in a transaction to
which Section 424(a) of the Code applies.

Section 1.8--Corporate Transaction

         "Corporate Transaction" shall mean any of the following
stockholder-approved transactions to which the Company is a party:

     (a) a merger or consolidation in which the Company is not the surviving
entity, except for a transaction the principal purpose of which is to change the
State in which the Company is incorporated, form a holding company or effect a
similar reorganization as to form whereupon this Plan and all Awards are assumed
by the successor entity;

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     (b) the sale, transfer, exchange or other disposition of all or
substantially all of the assets of the Company, in complete liquidation or
dissolution of the Company in a transaction not covered by the exceptions to
clause (a), above; or

     (c) any reverse merger in which the Company is the surviving entity but in
which securities possessing more than fifty percent (50%) of the total combined
voting power of the Company's outstanding securities are transferred or issued
to a person or persons different from those who held such securities immediately
prior to such merger.

Section 1.9--Director

         "Director" shall mean a member of the Board.

Section 1.10--Employee

         "Employee" shall mean any employee (as defined in accordance with
Section 3401(c) of the Code) of the Employer, whether such employee is so
employed at the time this Plan is adopted or becomes so employed subsequent to
the adoption of this Plan.

Section 1.11--Employer

         "Employer" shall mean the Company or an Affiliate, whichever at the
time employs the Employee.

Section 1.12--Exchange Act

         "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended.

Section 1.13--Fair Market Value

         "Fair Market Value" of a share of Common Stock as of a given date shall
be (i) the closing price of a share of Common Stock on the principal exchange on
which shares of Common Stock are then trading, if any (or as reported on any
composite index which includes such principal exchange), on the trading day
previous to such date, or if shares were not traded on the trading day previous
to such date, then on the next preceding date on which a trade occurred; or (ii)
if Common Stock is not traded on an exchange but is quoted on NASDAQ or a
successor quotation system, the mean between the closing representative bid and
asked prices for the Common Stock on the trading day previous to such date as
reported by NASDAQ or such successor quotation system; or (iii) if Common Stock
is not publicly traded on an exchange and not quoted on NASDAQ or a successor
quotation system, the Fair Market Value of a share of Common Stock as
established by the Committee acting in good faith.

Section 1.14--Incentive Stock Option

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         "Incentive Stock Option" shall mean an Option that qualifies under
Section 422 of the Code and which is designated as an Incentive Stock Option by
the Committee.

Section 1.15--Non-Qualified Option

         "Non-Qualified Option" shall mean an Option which is not designated as
an Incentive Stock Option and which is designated as a Non-Qualified Option by
the Committee.

Section 1.16--Officer

         "Officer" shall mean an officer of the Company, as defined in Rule
16a-1(f) under the Exchange Act, as such Rule may be amended in the future.

Section 1.17--Option

         "Option" shall mean a stock option granted under Article III of this
Plan. An Option granted under this Plan, as determined by the Committee, shall
either be an Incentive Stock Option or a Non-Qualified Option, provided, however
that options granted to Employees of an Affiliate which is not a Subsidiary
shall be Non-Qualified Options.

Section 1.18--Grantee

         "Grantee" shall mean an Employee to whom an Option is granted under
this Plan.

Section 1.19--Plan

         "Plan" shall mean this 1996 Stock Option Plan of AutoZone, Inc.

Section 1.20--Rule 16b-3

         "Rule 16b-3" shall mean that certain Rule 16b-3 under the Exchange Act,
as such Rule may be amended from time to time.

Section 1.21--Secretary

         "Secretary" shall mean the Secretary of the Company.

Section 1.22--Securities Act

         "Securities Act" shall mean the Securities Act of 1933, as amended.

Section 1.23--Subsidiary

         "Subsidiary" shall mean any corporation in an unbroken chain of
corporations beginning with the Company if each of the corporations other than
the last corporation in the

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unbroken chain then owns stock possessing 50% or more of the total combined
voting power of all classes of stock in one of the other corporations in such
chain.

Section 1.24--Termination of Employment

         "Termination of Employment" shall mean the time when the
employee-employer relationship between an Grantee and the Employer is terminated
for any reason, with or without cause, including, but not by way of limitation,
a termination by resignation, discharge, death, or retirement, but excluding (i)
terminations where there is a simultaneous reemployment or continuing employment
of an Grantee by the Employer; (ii) at the discretion of the Committee,
terminations which result in a temporary severance of the employee-employer
relationship; and (iii) at the discretion of the Committee, terminations which
are followed by the simultaneous establishment of a consulting relationship by
the Employer with the former Employee. The Committee, in its absolute
discretion, shall determine the effect of all matters and questions relating to
Termination of Employment, including, but not by way of limitation, the question
of whether a Termination of Employment resulted from a discharge for good cause,
and all questions of whether particular leaves of absence constitute
Terminations of Employment; provided, however, that, with respect to Incentive
Stock Options, a leave of absence, change in status from an employee to an
independent contractor or other change in the employee-employer relationship
shall constitute a Termination of Employment if, and to the extent that, such
leave of absence, change in status or other change interrupts employment for the
purposes of Section 422(a)(2) of the Code and the then applicable regulations
and revenue rulings under said Section. However, notwithstanding any provision
of this Plan, the Employer has an absolute and unrestricted right to terminate
an Employee's employment at any time for any reason whatsoever, with or without
cause, except to the extent expressly provided otherwise in writing.

                                   ARTICLE II

                             Shares Subject to Plan

Section 2.1--Shares Subject to Plan

         (a) The shares of stock subject to Awards shall be Common Stock,
initially shares of the Company's common stock, $.01 par value. The aggregate
number of such shares which may be issued upon exercise of Options under the
Plan shall not exceed 11,000,000. The shares of Common Stock issuable under the
Plan upon exercise of such Options may be either previously authorized but
unissued shares or treasury shares.

         (b) The maximum number of shares which may be subject to Options
granted under the Plan to any individual in any calendar year shall not exceed
the Award Limit. To the extent required by Section 162(m) of the Code, the
number of shares subject to Options which are canceled continue to be counted
against the Award Limit and if, after grant of an Option, the price of shares
subject to such Option is reduced, subject to the limits of Section 3.4(d), the
transaction is treated as a cancellation of the Option and a grant of a new
Option and both

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the Option deemed to be canceled and the Option deemed to be granted are counted
against the Award Limit.

Section 2.2--Add-back of Options

         If any Option expires or is canceled without having been fully
exercised or vested, the number of shares subject to such Option, but as to
which such Option was not exercised or vested prior to its expiration or
cancellation, may again be awarded hereunder, subject to the limitations of
Sections 2.1 and 3.4(d). Furthermore, any shares subject to Options which are
adjusted pursuant to Section 7.8 and become exercisable with respect to shares
of stock of another corporation, shall be considered canceled and may again be
awarded hereunder, subject to the limitations of Section 2.1. Shares of Common
Stock which are delivered by the Grantee or withheld by the Company upon the
exercise or vesting of any Option, in payment of the exercise price thereof, may
again be awarded hereunder, subject to the limitations of Section 2.1.
Notwithstanding the provisions of this Section 2.2, no shares of Common Stock
may again be optioned if such action would cause an Incentive Stock Option to
fail to qualify as an incentive stock option under Section 422 of the Code.

                                   ARTICLE III

                               Granting of Options

Section 3.1--Eligibility

         Any key Employee selected by the Committee pursuant to Section
3.4(a)(i) shall be eligible to be granted an Option, provided, however, that an
Employee of an Affiliate which is not a Subsidiary shall be eligible to be
granted Non- Qualified Options only.

Section 3.2--Qualification of Incentive Stock Options

         No Incentive Stock Option shall be granted to any person who is not an
employee (as defined in accordance with Section 3401(c) of the Code) of the
Company or a Subsidiary.

Section 3.3--Disqualification for Stock Ownership

         No person may be granted an Incentive Stock Option under this Plan if
such person, at the time the Incentive Stock Option is granted, owns stock
representing more than ten percent (10%) of the total combined voting power of
all classes of stock of the Company or any then existing Subsidiary or parent
corporation unless such Incentive Stock Option conforms to the applicable
provisions of Section 422 of the Code.

Section 3.4--Granting of Options

         (a) The Committee shall from time to time, in its absolute discretion,
and subject to applicable limitations of this Plan:

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     (i) Determine which Employees are key employees (including Employees who
have previously received Options under this Plan, or any other plan of the
Company) and in its opinion should be granted Options; and

     (ii) Subject to the Award Limit, determine the number of shares to be
subject to such Options granted to such selected Employees; and

     (iii) Determine whether such Options are to be Incentive Stock Options or
Non-Qualified Options and whether such Options are to qualify as
performance-based compensation as described in Section 162(m)(4)(C) of the Code;
and

     (iv) Determine the terms and conditions of such Options, consistent with
the Plan; provided, however, that the terms and conditions of such Options
intended to qualify as performance-based compensation as described in Section
162(m)(4)(C) of the Code shall include, but not be limited to, such terms and
conditions as may be necessary to meet the applicable provisions of Section
162(m)(4)(C) of the Code.

         (b) Upon the selection of an Employee to be granted an Option, the
Committee shall instruct the Secretary to issue such Option and may impose such
conditions on the grant of such Option as it deems appropriate. Without limiting
the generality of the preceding sentence, the Committee may, in its discretion
and on such terms as it deems appropriate, require as a condition of the grant
of an Option to an Employee that the Employee surrender for cancellation some or
all of the unexercised Options which have been previously granted to him under
this Plan or otherwise. Subject to Section 3.4(d), an Option, the grant of which
is conditioned upon such surrender, may have an exercise price lower (or higher)
than the exercise price of the surrendered Option, may cover the same (or a
lesser or greater) number of shares as the surrendered Option, may contain such
other terms as the Committee deems appropriate and shall be exercisable in
accordance with its terms, without regard to the number of shares, price,
exercise period or any other term or condition of the surrendered Option.

         (c) Any Incentive Stock Option granted under this Plan may be modified
by the Committee to disqualify such Option from treatment as an "incentive stock
option" under Section 422 of the Code.

         (d) Notwithstanding any other provision of this Plan, in no event may
Options to purchase shares of Common Stock be granted under this Plan at a lower
price on a per share basis than the per share price of any Options (i) deemed
canceled and regranted or (ii) required to be surrendered as a condition of the
grant of new Options.

Section 3.5--Consideration

         Except as the Committee may otherwise determine, in consideration of
the granting of an Option, the Grantee shall agree, in the written Option
agreement, to remain in the employ of the Company, or any Affiliate, for a
period of at least one year (or such shorter period as

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may be fixed in the Option agreement or by action of the Committee following
grant of the Option) after the Option is granted. Nothing in this Plan or in any
Option agreement hereunder shall confer upon any Grantee any right to continue
in the employ of his respective Employer, or shall interfere with or restrict in
any way the rights of each respective Employer, which are hereby expressly
reserved, to discharge any Grantee at any time for any reason whatsoever, with
or without cause.

                                   ARTICLE IV

                                Terms of Options

Section 4.1--Option Agreement

         Each Option shall be evidenced by a written Option agreement which
shall be executed by the Grantee and authorized Officers of the Company and
which shall contain such terms and conditions as the Committee shall determine,
consistent with the Plan. Option agreements evidencing Incentive Stock Options
shall contain such terms and conditions as may be necessary to meet the
applicable provisions of Section 422 of the Code. Stock Option agreements
evidencing Options intended to qualify as performance-based compensation as
described in Section 162(m)(4)(C) of the Code shall contain such terms and
conditions as may be necessary to meet the applicable provisions of Section
162(m) of the Code.

Section 4.2--Option Price

         (a) Subject to subsection 4.2(b), the price per share of the shares
subject to each Option shall be set by the Committee; provided, however, that
such price shall be no less than eighty- five percent (85%) of the Fair Market
Value of the underlying shares on the date of grant; further provided that (i)
such price shall be no less than the par value of a share of Common Stock,
unless otherwise permitted by applicable state law, (ii) in the case of
Incentive Stock Options and Options intended to qualify as performance-based
compensation as described in Section 162(m)(4)(C) of the Code, such price shall
not be less than 100% of the Fair Market Value of a share of Common Stock on the
date the Option is granted; and (iii) in the case of Incentive Stock Options
granted to an individual then owning (within the meaning of Section 424(d) of
the Code) more than 10% of the total combined voting power of all classes of
stock of the Company or any Subsidiary or parent corporation thereof (within the
meaning of Section 422 of the Code) such price shall not be less than 110% of
the Fair Market Value of a share of Common Stock on the date the Option is
granted.

         (b) Options to purchase no more than 300,000 shares of Common Stock may
be granted under this Plan at a price lower than 100% of the Fair Market Value
of the underlying shares on the date of grant, determined on a cumulative basis
for all Grantees in the aggregate.

         (c) The price of an Option, once established by the Committee as of the
grant date, may not be lowered.

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Section 4.3--Option Term

         The term of an Option shall be set by the Committee in its discretion;
provided, however, that, in the case of Incentive Stock Options, the term shall
not be more than ten (10) years from the date the Incentive Stock Option is
granted, or five (5) years from such date if the Incentive Stock Option is
granted to an individual then owning (within the meaning of Section 424(d) of
the Code) more than 10% of the total combined voting power of all classes of
stock of the Company or any Subsidiary or parent corporation thereof (within the
meaning of Section 422 of the Code). Except as limited by requirements of
Section 422 of the Code and regulations and rulings thereunder applicable to
Incentive Stock Options, the Committee may extend the term of any outstanding
Option in connection with any Termination of Employment of the Grantee, or amend
any other term or condition of such Option relating to such a termination.

Section 4.4--Option Vesting

         (a) Except as the Committee may otherwise provide, no Option may be
exercised in whole or in part during the first year after such Option is granted
unless the Option is being granted in modification or substitution of a
previously granted Option, in which case the one year period shall be measured
from the date of the grant of the previously granted Option.

         (b) Subject to the provisions of Sections 4.4(a) and 4.4(d), the period
during which the right to exercise an Option in whole or in part vests in the
Grantee shall be set by the Committee and the Committee may determine that an
Option may not be exercised in whole or in part for a specified period after it
is granted. At any time after grant of an Option, the Committee may, in its sole
and absolute discretion and subject to whatever terms and conditions it selects,
accelerate the period during which an Option vests.

         (c) No portion of an Option which is unexercisable at Termination of
Employment shall thereafter become exercisable, except as may be otherwise
provided by the Committee either in the Option agreement or by action of the
Committee following the grant of the Option.

         (d) To the extent that the aggregate Fair Market Value of stock with
respect to which "incentive stock options" (within the meaning of Section 422 of
the Code, but without regard to Section 422(d) of the Code) are exercisable for
the first time by a Grantee during any calendar year (under the Plan and all
other incentive stock option plans of the Company and any Subsidiary) exceeds
$100,000, such Options shall be treated as Non-Qualified Options to the extent
required by Section 422 of the Code. The rule set forth in the preceding
sentence shall be applied by taking Options into account in the order in which
they were granted. For purposes of this Section 4.4(d), the Fair Market Value of
stock shall be determined as of the time the Option with respect to such stock
is granted.

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                                    ARTICLE V

                               Exercise of Options

Section 5.1--Partial Exercise

         An exercisable Option may be exercised in whole or in part. However, an
Option shall not be exercisable with respect to fractional shares and the
Committee may require that, by the terms of the Option, a partial exercise be
with respect to a minimum number of shares.

Section 5.2--Manner of Exercise

         All or a portion of an exercisable Option shall be deemed exercised
upon delivery to the Secretary of the Company or his designee:

     (a) A written notice complying with the applicable rules established by the
Committee stating that the Option, or a portion thereof, is exercised. The
notice shall be signed by the Grantee or other person then entitled to exercise
the Option or such portion;

     (b) Such representations and documents as the Committee, in its absolute
discretion, deems necessary or advisable to effect compliance with all
applicable provisions of the Securities Act, the Code, and any other federal or
state laws or regulations. The Committee may, in its absolute discretion, also
take whatever additional actions it deems appropriate to effect such compliance
including, without limitation, placing legends on share certificates and issuing
stop-transfer notices to agents and registrars;

     (c) In the event that the Option or portion thereof shall be by any person
or persons other than the Grantee, appropriate proof of the right of such person
or persons to exercise the Option or portion thereof; and

     (d) Full cash payment to the Company of the exercise price and any
applicable taxes for the shares with respect to which the Option, or portion
thereof, is exercised or through the delivery of a notice that the Grantee has
placed a market sell order with a broker approved by the Company with respect to
shares of Common Stock then issuable upon exercise of the Option, and that the
broker has been directed to pay a sufficient portion of the net proceeds of the
sale to the Company in satisfaction of the Option exercise price and any
applicable taxes. However, the Committee may, in its discretion, allow payment,
in whole or in part, through the delivery of shares of Common Stock owned by the
Grantee, duly endorsed for transfer to the Company with a Fair Market Value on
the date of delivery equal to the aggregate exercise price of the Option or
exercised portion thereof.

Section 5.3--Rights as Stockholders

         Grantees shall not be, nor have any of the rights or privileges of,
stockholders of the Company in respect of any shares purchasable upon the
exercise of any part of an Option

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unless and until certificates representing such shares have been issued by the
Company to such Grantees.

Section 5.4--Transfer Restrictions

         The Committee, in its absolute discretion, may impose such restrictions
on the transferability of the shares purchasable upon the exercise of an Option
as it deems appropriate. Any such restrictions shall be set forth in the
respective Option agreement and may be referred to on the certificates
evidencing such shares. Without limiting the generality of the foregoing, the
Committee may require the Employee to give the Company prompt notice of any
disposition of shares of stock acquired by exercise of an Incentive Stock Option
within two years from the date of granting such Option or one year after the
transfer of such shares to such Employee. The Committee may direct that the
certificates evidencing shares acquired by exercise of an Option refer to such
requirement to give prompt notice of disposition.

                                   ARTICLE VI

                                 Administration

Section 6.1--Compensation Committee

         The Committee shall consist solely of two or more Directors, appointed
by and holding office at the pleasure of the Board, each of whom is both a "non-
employee director" as defined by Rule 16b-3 and an "outside director" for
purposes of Section 162(m) of the Code. Appointment of Committee members shall
be effective upon acceptance of appointment. Committee members may resign at any
time by delivering written notice to the Board. Vacancies in the Committee shall
be filled by the Board.

Section 6.2--Duties and Powers of the Committee

         It shall be the duty of the Committee to conduct the general
administration of the Plan in accordance with its provisions. The Committee
shall have the power to interpret the Plan and the agreements pursuant to which
Options are granted and to adopt such rules for the administration,
interpretation and application of the Plan as are consistent herewith and to
interpret, amend or revoke any such rules. Any such interpretations and rules in
regard to Incentive Stock Options shall be consistent with provisions of Section
422 of the Code. Any grant under this Plan need not be the same with respect to
each Grantee. In its absolute discretion, the Board may at any time and from
time to time exercise any and all rights and duties of the Committee under this
Plan except with respect to matters which under Rule 16b-3 or Section 162(m) of
the Code, or any regulations or rules issued thereunder, are required to be
determined in the sole discretion of the Committee.

Section 6.3--Majority Rule; Unanimous Written Consent

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         The Committee shall act by a majority of its members in attendance at a
meeting at which a quorum is present or by a memorandum or other written
instrument signed by all members of the Committee.

Section 6.4--Professional Assistance; Good Faith Actions

         All expenses and liabilities which members of the Committee incur in
connection with the administration of this Plan shall be borne by the Company.
The Committee may employ attorneys, consultants, accountants, appraisers,
brokers or other persons. The Committee, the Company and its Officers and
Directors shall be entitled to rely upon the advice, opinions or valuations of
any such persons. All actions taken and all interpretations and determinations
made by the Committee or Board in good faith shall be final and binding upon all
Grantees, the Company and all other interested persons. No members of the
Committee or the Board shall be personally liable for any action, determination
or interpretation made in good faith with respect to the Plan or the Awards, and
all members of the Committee and the Board shall be fully protected by the
Company in respect to any such action, determination or interpretation.

                                   ARTICLE VII

                                Other Provisions

Section 7.1--Options Not Transferable

         Options may not be sold, pledged, assigned, or transferred in any
manner other than by will or the laws of descent and distribution, unless and
until such Options have been exercised, and the shares underlying such Options
have been issued, and all restrictions applicable to such shares have lapsed. No
Option or interest or right therein or part thereof shall be liable for the
debts, contracts or engagements of the Grantee or his successors in interest or
shall be subject to disposition by transfer, alienation, anticipation, pledge,
encumbrance, assignment or any other means whether such disposition be voluntary
or involuntary or by operation of law by judgment, levy, attachment, garnishment
or any other legal or equitable proceedings (including bankruptcy), and any
attempted disposition thereof shall be null and void and of no effect except as
otherwise permitted in this Section 7.1.

Section 7.2--Eligibility to Exercise

         Only a Grantee may exercise an Option granted under the Plan during the
Grantee's lifetime. After the death of the Grantee, any exercisable portion of
an Option may, prior to the time when such portion becomes unexercisable under
the Plan or the applicable Option agreement or other agreement, be exercised by
the Grantee's personal representative, or by any person empowered to do so under
the deceased Grantee's will or under the then applicable laws of descent and
distribution.

Section 7.3--Conditions to Issuance of Stock Certificates

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         The Company shall not be required to issue or deliver any certificate
or certificates for shares of stock purchased upon the exercise of any Option
prior to fulfillment of all of the following conditions:

     (a) The admission of such shares to listing on all stock exchanges on which
such class of stock is then listed;

     (b) The completion of any registration or other qualification of such
shares under any state or federal law or under the rulings or regulations of the
Securities and Exchange Commission or any other governmental regulatory body,
which the Committee shall, in its absolute discretion, deem necessary or
advisable;

     (c) The obtaining of any approval or other clearance from any state or
federal governmental agency which the Committee shall, in its absolute
discretion, determine to be necessary or advisable;

     (d) The lapse of such reasonable period of time following the exercise of
the Option as the Committee may establish from time to time for reasons of
administrative convenience; and

     (e) The receipt by the Company of full payment for such shares, including
payment of any applicable withholding tax.

Section 7.4--Amendment, Suspension or Termination of the Plan

         Except as otherwise provided in this Section 7.4, the Plan may be
wholly or partially amended or otherwise modified, suspended or terminated at
any time or from time to time by the Board or the Committee. However, to the
extent required by Sections 422 or 162(m) of the Code, without approval of the
Company's stockholders given within 12 months before or after the action by the
Committee or Board, no action of the Committee or Board may increase any limit
imposed in Section 2.1 on the maximum number of shares which may be issued under
the Plan, modify the Award Limit, materially modify the eligibility requirements
of Section 3.1, or extend the limit imposed in this Section 7.4 on the period
during which Options may be granted or amend or modify the Plan in a manner
requiring stockholder approval under Sections 422 or 162(m) of the Code, and no
action of the Committee or Board may be taken that would otherwise require
stockholder approval as a matter of applicable law, regulation or rule. Neither
the amendment, suspension nor termination of the Plan shall, without the consent
of the holder of the Option, alter or impair any rights or obligations under any
Option theretofore granted unless the Option agreement itself expressly so
provides. No Option may be granted during any period of suspension nor after
termination of the Plan, and in no event any Option be granted under this Plan
on or after October 21, 2006. No amendment, suspension or termination of this
Plan shall, without the consent of the Grantees alter or impair any rights or
obligations under any Option theretofore granted or awarded, unless the Option
agreement otherwise expressly so provides.

Section 7.5--Approval of Plan by Stockholders

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         The Company shall take such actions with respect to the Plan as may be
necessary to satisfy the requirements of Sections 162(m) and 422 of the Code.
This Plan will be submitted for the approval of the Company's stockholders
within twelve months after the date of the Board's initial adoption of this
Plan. Options may not be granted under the Plan prior to such stockholder
approval.

Section 7.6--Effect of Plan Upon Other Compensation Plans

         The adoption of this Plan shall not affect any other compensation or
incentive plans in effect for the Employers. Nothing in this Plan shall be
construed to limit the right of the Employers (a) to establish any other forms
of incentives or compensation for employees of the Employers or (b) to grant or
assume options otherwise than under this Plan in connection with any proper
corporate purpose, including, but not by way of limitation, the grant or
assumption of options in connection with the acquisition by purchase, lease,
merger, consolidation or otherwise, of the business, stock or assets of any
corporation, firm or association.

Section 7.7--Conformity to Securities Laws

         The Plan is intended to conform to the extent necessary with all
provisions of the Securities Act, the Exchange Act, the Code, and any and all
regulations and rules promulgated by the Securities and Exchange Commission and
the Internal Revenue Service. Notwithstanding anything herein to the contrary,
the Plan shall be administered, and Options shall be granted and may be
exercised, only in such a manner as to conform to such laws, rules and
regulations. To the extent permitted by applicable law, the Plan and Options
granted hereunder shall be deemed amended to the extent necessary to conform to
such laws, rules and regulations.

Section 7.8--Changes in Common Stock or Assets of the Company, Acquisition or
         Liquidation of the Company and Other Corporate Events

         (a) Subject to Section 7.8(d), in event that the Committee determines
that any dividend or other distribution (whether in the form of cash, Common
Stock, other securities, or other property), recapitalization, reclassification,
stock split, reverse stock split, reorganization, merger, consolidation,
split-up, spin-off, combination, repurchase, liquidation, dissolution, or sale,
transfer, exchange or other disposition of all or substantially all of the
assets of the Company (including, but not limited to, a Corporate Transaction),
or exchange of Common Stock or other securities of the Company, issuance of
warrants or other rights to purchase Common Stock or other securities of the
Company, or other similar corporate transaction or event, in the Committee's
sole discretion, affects the Common Stock such that an adjustment is determined
by the Committee to be appropriate in order to prevent dilution or enlargement
of the benefits intended to be made available under the Plan or with respect to
an Option, then the Committee shall, in such manner as it may deem equitable,
adjust any or all of

     (i) the number and kind of shares of Common Stock (or other securities or
property) with respect to which Options may be granted under the Plan,
(including, but not limited to,

                                       14
<PAGE>

adjustments of the limitations in Section 2.1 on the maximum number and kind of
shares which may be issued and adjustments of the Award Limit),

     (ii) the number and kind of shares of Common Stock (or other securities or
property) subject to outstanding Options, and

     (iii) the grant or exercise price with respect to any Option.

         (b) Subject to Section 7.8(d), in the event of any Corporate
Transaction or other transaction or event described in Section 7.8(a) or any
unusual or nonrecurring transactions or events affecting the Company, any
affiliate of the Company, or the financial statements of the Company or any
affiliate, or of changes in applicable laws, regulations, or accounting
principles, the Committee in its discretion is hereby authorized to take any one
or more of the following actions whenever the Committee determines that such
action is appropriate in order to prevent dilution or enlargement of the
benefits or potential benefits intended to be made available under the Plan or
with respect to any Option under this Plan, to facilitate such transactions or
events, or to give effect to such changes in laws, regulations or principles:

     (i) In its sole and absolute discretion, and on such terms and conditions
as it deems appropriate, the Committee may provide, either by the terms of the
Option agreement or by action taken prior to the occurrence of such transaction
or event and either automatically or upon the Grantee's request, for either the
purchase of any such Option for an amount of cash equal to the amount that could
have been attained upon the exercise of such option, or award or realization of
the Grantee's rights had such Option been currently exercisable or payable or
fully vested or the replacement of such Option with other rights or property
selected by the Committee in its sole discretion;

     (ii) In its sole and absolute discretion, the Committee may provide, either
by the terms of such Option or by action taken prior to the occurrence of such
transaction or event that it cannot be exercised after such event;

     (iii) In its sole and absolute discretion, and on such terms and conditions
as it deems appropriate, the Committee may provide, either by the terms of such
Option or by action taken prior to the occurrence of such transaction or event,
that for a specified period of time prior to such transaction or event, such
option shall be exercisable as to all shares covered thereby, notwithstanding
anything to the contrary in (i) Section 4.4 or (ii) the provisions of such
Option;

     (iv) In its sole and absolute discretion, and on such terms and conditions
as it deems appropriate, the Committee may provide, either by the terms of such
Option agreement or by action taken prior to the occurrence of such transaction
or event, that upon such event, such Option be assumed by the successor or
survivor corporation, or a parent or subsidiary thereof, or shall be substituted
for by similar options, rights or awards covering the stock of the successor or
survivor corporation, or a parent or subsidiary thereof, with appropriate
adjustments as to the number and kind of shares and prices; or

                                       15
<PAGE>

     (v) In its sole and absolute discretion, and on such terms and conditions
as it deems appropriate, the Committee may make adjustments in the number and
type of shares of Common Stock (or other securities or property) subject to
outstanding Options and/or in the terms and conditions of (including the grant
or exercise price), and the criteria included in, outstanding Options that may
be granted in the future.

         (c) Subject to Section 7.8(d) and 7.12, the Committee may, in its
discretion, include such further provisions and limitations in any Option
agreement or stock certificate, as it may deem equitable and in the best
interests of the Company.

         (d) With respect to Options intended to qualify as performance-based
compensation under Section 162(m), no adjustment or action described in this
Section 7.8 or in any other provision of the Plan shall be authorized to the
extent that such adjustment or action would cause the Plan to violate Section
422(b)(1) of the Code or would cause such Option to fail to so qualify under
Section 162(m), as the case may be, or any successor provisions thereto.
Furthermore, no such adjustment or action shall be authorized to the extent such
adjustment or action would result in short-swing profits liability under Section
16 of the Exchange Act or violate the exemptive conditions of Rule 16b-3 unless
the Committee determines that the Option is not to comply with such exemptive
conditions.

         (e) The number of shares of Common Stock subject to any Option shall
always be rounded to the nearest whole number.

Section 7.9--Tax Withholding

         The Company shall be entitled to require payment in cash or deduction
from other compensation payable to each Grantee of any sums required by federal,
state or local tax laws to be withheld with respect to the issuance, vesting or
exercise of any Option. The Committee may in its discretion and in satisfaction
of the foregoing requirement allow such Grantee to elect to have the Company
withhold shares of Common Stock otherwise issuable under such Option (or allow
the return of shares of Common Stock) having a Fair Market Value equal to the
sums required to be withheld.

Section 7.10--No Loans

         The Company may not extend any loans to Employees in connection with
the exercise of an Option granted under this Plan.

Section 7.11--Forfeiture Provisions

         Pursuant to its general authority to determine the terms and conditions
applicable to awards under the Plan, the Committee shall have the right (to the
extent consistent with the applicable exemptive conditions of Rule 16b-3) to
provide, in the terms of an Option made under the Plan, or to require the
recipient to agree by separate written instrument, that (i) any proceeds, gains
or other economic benefit actually or constructively received by the recipient
upon any receipt or exercise of the Option, or upon the receipt or resale of any
Common Stock

                                       16
<PAGE>

underlying such Option, must be paid to the Company, and (ii) the Option shall
terminate and any unexercised portion of such Option (whether or not vested)
shall be forfeited, if (a) a Termination of Employment occurs prior to a
specified date, or within a specified time period following receipt or exercise
of the Option, or (b) the recipient at any time, or during a specified time
period, engages in any activity in competition with the Company, or which is
adverse, contrary or harmful to the interests of the Company, as further defined
by the Committee.

Section 7.12--Limitations Applicable to Section 16 Persons and Performance-
Based Compensation

         Notwithstanding any other provision of this Plan, this Plan, and any
Option granted to any individual who is then subject to Section 16, shall be
subject to any additional limitations set forth in any applicable exemptive rule
under Section 16 of the Exchange Act (including any amendment to Rule 16b-3)
that are requirements for the application of such exemptive rule. To the extent
permitted by applicable law, the Plan and Options granted hereunder shall be
deemed amended to the extent necessary to conform to such applicable exemptive
rule. Furthermore, notwithstanding any other provision of this Plan, any Option
intended to qualify as performance-based compensation as described in Section
162(m)(4)(C) of the Code shall be subject to any additional limitations set
forth in Section 162(m) of the Code (including any amendment to Section 162(m)
of the Code) or any regulations or rulings issued thereunder that are
requirements for qualification as performance-based compensation as described in
Section 162(m)(4)(C) of the Code, and this Plan shall be deemed amended to the
extent necessary to conform to such requirements.

Section 7.13--Compliance with Laws

         This Plan, the granting and vesting of Options under this Plan and the
issuance and delivery of shares of Common Stock and the payment of money under
this Plan or under Options granted hereunder are subject to compliance with all
applicable federal and state laws, rules and regulations (including but not
limited to state and federal securities law and federal margin requirements) and
to such approvals by any listing, regulatory or governmental authority as may,
in the opinion of counsel for the Company, be necessary or advisable in
connection therewith. Any securities delivered under this Plan shall be subject
to such restriction, and the person acquiring such securities shall, if
requested by the Company, provide such assurances and representations to the
Company as the Company may deem necessary or desirable to assure compliance with
all applicable legal requirements. To the extent permitted by applicable law,
the Plan, Options granted or awarded hereunder shall be deemed amended to the
extent necessary to conform to such laws, rules or regulations.

Section 7.14--Titles

         Titles are provided herein for convenience only and are not to serve as
a basis for interpretation or construction of this Plan.

                                       17
<PAGE>

Section 7.15--Governing Law

         This Plan and any agreements hereunder shall be administered,
interpreted and enforced under the internal laws of the State of Nevada without
regard to the conflicts of laws rules thereof.

                                       18<PAGE>
                                                                    EXHIBIT 10.6

                                 AUTOZONE, INC.
                              AMENDED AND RESTATED
                   2000 EXECUTIVE INCENTIVE COMPENSATION PLAN

1.  PURPOSE

         The AutoZone, Inc. 2000 Executive Incentive Compensation Plan ("Plan")
is designed to provide incentives and rewards to eligible employees of AutoZone,
Inc. (the "Company") and its affiliates who have significant responsibility for
the success and growth of the Company and assist the Company in attracting,
motivating, and retaining key employees on a competitive basis. The Plan is
designed to ensure that the annual bonus paid pursuant to this Plan to eligible
employees of the Company is deductible under Section 162(m) of the Internal
Revenue Code of 1986, as amended (the "Code"). This Plan shall be ratified by
the Company's stockholders pursuant to 26 C.F.R. ss. 1.162-27(e)(4)(vi) at the
annual meeting to be held on December 9, 1999, and shall be effective for the
entire 2000 fiscal year. If the stockholders do not ratify the Plan, the Plan
shall not become effective.

2. ADMINISTRATION OF THE PLAN

         The Plan shall be administered by the Compensation Committee of the
Board of Directors of the Company ("Committee"). The Committee shall be
appointed by the Board of Directors of the Company and shall consist of at least
two outside directors of the Company that satisfy the requirements of Code
Section 162(m). The Committee shall have the sole discretion and authority to
administer and interpret the Plan in accordance with Code Section 162(m). The
Committee's interpretations of the Plan, and all actions taken and
determinations made by the Committee pursuant to the powers vested in it
hereunder, shall be conclusive and binding on all parties concerned, including
the Company, its stockholders and any person receiving an award under the Plan.

3.  ELIGIBILITY

         The individuals entitled to participate in the Plan shall be the
executive officers of the Company, as determined by the Committee.

4.  AWARDS

         Executive officers as determined by the Committee may be granted annual
incentive awards under this Plan at such times of each year as will satisfy the
requirements of Code Section 162(m), provided, however, that if an individual
becomes an executive officer during a year, an incentive goal for that
individual shall be made for that fiscal year at the time she or he becomes an
executive officer. The Committee may, in its discretion, grant annual incentive
awards to non-executive officers and managers of the Company outside of this
Plan.

         The annual incentive award to each executive officer shall be based on
the Company, a subsidiary or division, attaining one or more of the following
objective goals as established by the Committee for the fiscal year:

<PAGE>

         (a) earnings

         (b) earnings per share

         (c) sales

         (d) market share

         (e) revenue

         (f) operating or net cash flows

         (g) pre-tax profits

         (h) earnings before interest and taxes

         (i) return on capital

         (j) economic value added

         (k) return on inventory

         (l) EBIT margin

         (m) gross profit margin

         (n) sales

         (o) sales per square foot

         (p) comparable store sales

         Different measures of goal attainment may be set for different plan
participants. The performance goal may be a single goal or a range with a
minimum goal up to a maximum goal, with corresponding increases in the incentive
award up to the maximum award set by the Committee and as may be limited by this
Plan. Such performance goals may disregard, at the Committee's discretion, the
effect of one-time charges and extraordinary events such as asset write-downs,
litigation judgments or settlements, changes in tax laws, accounting principles
or other laws or provisions affecting reported results, accruals for
reorganization or restructuring, and any other extraordinary non-recurring
items, acquisitions or divestitures and any foreign exchange gains or losses.
These goals shall be established by the Committee either by written consent or
as evidenced by the minutes of a meeting at such times as to qualify amounts
paid under this Plan for tax deductible treatment under Code Section 162(m).

         Payment of an earned award will be made in cash, or at the option of
the Committee, in whole or in part in Company common stock. Upon completion of
each fiscal year, the Committee shall review performance verses the established
goal, and shall certify (either by written consent or as evidenced by the
minutes of a meeting) the specified performance goals achieved for the fiscal
year (if any), and direct which award payments are payable under the Plan, if
any. No payment will be made if the minimum pre-established goals are not met.
The Committee may, in its discretion, reduce or eliminate an individual's award
that would have been

<PAGE>
otherwise paid. No individual may receive in any one fiscal year an award under
the Plan of an amount greater than the lesser of (i) 200% of such individual's
base salary for that year or (ii) $2 million.

5. MISCELLANEOUS PROVISIONS

         (a) The Company shall have the right to deduct all federal, state, or
local taxes required by law or Company policy from any award paid.

         (b) Nothing contained in this Plan grants to any person any claim or
right to any payments under the Plan. Such payments shall be made at the sole
discretion of the Compensation Committee.

         (c) Nothing contained in this Plan or any action taken by the Committee
pursuant to this Plan shall be construed as giving an individual any right to be
retained in the employ of the Company.

         (d) The Plan shall be unfunded. The Company shall not be required to
establish any special or separate fund or to make any other segregation of
assets to assure the payment of any award under the Plan.

         (e) The Plan may be amended, subject to the limits of Code Section
162(m), or terminated by the Committee at any time. However, no amendment to the
Plan shall be effective without prior approval of the Company's stockholders
which would (i) increase the maximum amount that may be paid under the Plan to
any person or (ii) modify the business criteria on which performance targets are
to be based under the Plan.

         (f) This Plan shall terminate on the fifth anniversary after the date
of ratification by the Company's stockholders.

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