Document:

Exhibit
      10.1

    

    

    AGREEMENT

    

    THIS
      AGREEMENT is between AutoZone, Inc., a Nevada corporation and its various
      subsidiaries (collectively “AutoZone”), and Michael E. Longo, an individual
      (“Employee”) dated as of October 19, 2005 (“Agreement”).

    

    WHEREAS,
      Employee and AutoZone entered into an Employment and Non-Compete Agreement
      dated
      August 31, 1999, (“Prior Agreement”);

    

    WHEREAS,
      the parties mutually desire to terminate the Prior Agreement and substitute
      this
      Agreement in its place.

    

    NOW,
      THEREFORE, it is AGREED as follows:

    

    1.
      Effective
      Date.
      The
      Prior Agreement is hereby terminated and of no effect. Employee resigns his
      employment with AutoZone as of October 28, 2005, (“Effective Date”). Employee
      resigns as an officer of AutoZone, Inc. and any and all of its affiliates and
      subsidiaries (both direct and indirect) as of the Effective Date.

    

    2.
      Release.
      Except
      for the obligations undertaken pursuant to the terms of the Agreement, Employee
      releases and forever discharges AutoZone and its employees, agents,
      subsidiaries, predecessors, successors, affiliates, and assigns from all claims
      of whatsoever nature and the right to receive compensation from such claims,
      growing out of or in any way directly or indirectly connected with the
      employment relationship between Employee and AutoZone, included but not limited
      to:

    

    
      	 	
              A.

            	
              Breach
                of any express or implied term or condition of
                employment;

            

    

    

    
      	 	
              B.

            	
              Any
                other causes of action under any federal, state or local law, rule
                or
                regulation, including but not limited to claims under any worker’s
                compensation law, the Age Discrimination in Employment Act (as amended),
                the Older Workers’ Benefit Protection Act, the Civil Rights Act of 1991,
                the Civil Rights Act of 1964 (as amended), the Civil Rights Act of
                1866,
                the American with Disabilities Act of 1990, the Family and Medical
                Leave
                Act of 1993, and/or the Tax Reform Act of 1986 (as amended);
                and/or

            

    

    

    
      	 	
              C.

            	
              Any
                right to receive any monetary damages or liability payments from
                any
                actions at law or in equity filed on his behalf with regard to his
                employment with or arising out of or relating to his employment with
                AutoZone.

            

    

    

    (It
      is
      important that you read and understand the terms of this Agreement in full
      and
      that if you decide to sign it, that you do so knowingly and voluntarily. We
      suggest you consult an attorney about this Agreement and your rights before
      signing it. You will not waive or give up any rights to claims you may have
      against AutoZone that may arise after the date that you sign this Agreement.
      Although we encourage you to seek advice of counsel concerning your rights
      and
      will be happy to answer questions about our offer, the offer is not negotiable.
      In other words, you may accept the offer as stated or reject the offer and
      receive the benefits to which you are entitled by law.)

     

    3.
      Recision.
      AutoZone’s offer as described in this Agreement will remain open and effective
      for twenty-one (21) days from the date of this Agreement. You may elect to
      accept or reject this offer within that time period. If you do nothing within
      the twenty-one (21) day period, the offer shall be deemed withdrawn by
      AutoZone.

    

    If
      you do
      sign the Agreement within the twenty-one (21) day period, you will have seven
      (7) days following the date you signed this Agreement to change your mind and
      revoke the Agreement in writing. Therefore, this Agreement will not be in effect
      until seven (7) days have passed following the date you sign this
      Agreement.

     

    

    4.
      Benefits.
      In
      consideration of the release granted by Employee and the other obligations
      undertaken by Employee pursuant to this Agreement, Employee shall receive,
      subject to the limitations contained in this Agreement, the following Benefits
      in his favor:

    

    A.
       Severance
      pay for a period of one hundred four (104) weeks at Employee’s current weekly
      base salary rate, paid in equal bi-weekly installments as currently received
      by
      Employee, at the same time as AutoZone’s regular payroll. In the event you elect
      COBRA coverage, each week of pay will also include an additional amount
      sufficient to cover the difference between premium payments currently being
      deducted for group health insurance and the premium payment pursuant to COBRA
      for such period of time as COBRA coverage is allowed pursuant regulations and
      the AutoZone medical plan. In the event you obtain other health insurance during
      the term of this agreement, you must immediately notify AutoZone, in writing.
      Upon receipt of this notification, AutoZone will reduce your pay by the excess
      COBRA payments. As used in this Agreement, “bi-weekly” means “once every two
      weeks.”

    

    B.
       Vacation
      pay for which you are eligible, but have not taken, as of the Effective Date
      of
      this agreement.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    C.
       You
      will
      receive your eligible Fiscal 2006 bonus, prorated through the Effective Date
      of
      your employment with AutoZone. This bonus will be calculated in the same manner
      (except for being prorated through the Effective Date) and paid at the same
      time
      as bonus payouts for Fiscal 2006 as it would have been had Employee been
      employed by AutoZone on the date bonuses for fiscal 2006 are paid to AutoZone
      vice presidents.

    

    Employee
      understands and agrees that the only salary or benefits he will receive from
      AutoZone are set forth herein, and that all other salary or benefits he is
      presently receiving from AutoZone shall be and are terminated as of the
      Effective Date.

    

    The
      parties understand that applicable local, state, and federal tax deductions
      and
      withholdings will be made from all of the appropriate payments. The parties
      further understand and agree that payment of Benefits in no way increases the
      vesting period for 401K, pension plans or stock option agreements. Any vested,
      but unexercised, stock options may be exercised within thirty (30) days of
      the
      employment termination date pursuant to the stock option agreements. Any
      unvested stock options will terminate pursuant to the stock option
      agreements.

    

    5.
      Non-Compete.
      Employee further agrees that he will not, for the period of two (2) year from
      the Effective Date, be engaged in or concerned with, directly or indirectly,
      any
      business related to or involved in the wholesale or retail sale or distribution
      of auto parts and accessories, chemicals, or motor oil, operating in the
      automobile aftermarket in any state in which AutoZone operates now or shall
      operate during the two (2) year term of the Non-Compete agreement (herein called
      “Competitor”) as an employee, consultant, beneficial or record owner, partner,
      joint venturer, officer or agent of the Competitor. 

    

    The
      parties acknowledge and agree that the time, scope, geographic area and other
      provisions of this Non-Compete section have been specifically negotiated by
      sophisticated commercial parties and specifically hereby agree that such time,
      scope, geographic area and other provisions are reasonable under the
      circumstances. The parties further agree that if, at any time, despite the
      express agreement of the parties hereto, a court of competent jurisdiction
      holds
      that any portion of this Non-Compete section is unenforceable for any reason,
      Employee shall forfeit any benefits provided pursuant to this Agreement. In
      the
      event of breach by Employee of any provision of the Non-Compete section,
      Employee acknowledges that such breach will cause irreparable damage to
      AutoZone, the exact amount of which will be difficult or impossible to
      ascertain, and that remedies at law for any such breach will be inadequate.
      Accordingly, AutoZone shall be entitled, in addition to any other rights or
      remedies existing in its favor, to obtain, without the necessity for any bond
      or
      other security, specific performance and/or injunctive relief in order to
      enforce, or prevent breach of any such provision and AutoZone shall be entitled
      to the remedies set forth in the section entitled “Remedies”.

    

    Employee
      agrees not to hire, for himself or any other entity, encourage anyone or entity
      to hire, or entice away from AutoZone any employee of AutoZone during the term
      of this non-compete obligation.

    

    6.
      Confidentiality,
      Nondisparagement and AutoZone Property.
      Unless
      otherwise required by law, Employee shall hold in confidence any proprietary
      or
      confidential information obtained by him during his employment with AutoZone,
      which shall include, but not be limited to, information regarding AutoZone’s
      present and future business plans, systems, operations and personnel matters.
      Employee acknowledges that all such confidential or proprietary information
      is
      and shall remain the sole property of AutoZone and all embodiments of such
      information shall remain with or be returned to AutoZone. Employee agrees to
      immediately return to AutoZone any and all property of AutoZone.

    

    Further,
      Employee agrees to make no disparaging comments regarding AutoZone, AutoZone’s
      business practices, AutoZone’s management, officers, directors or employees, or
      any other aspect of AutoZone or his employment with AutoZone to any other
      person, party or entity.

    

    7.
      Complete
      Agreement.
      This
      Agreement contains the entire agreement between the parties with respect to
      the
      matters covered herein and integrates and merges all prior understandings,
      discussions and negotiations. No other agreement, oral or written, relating
      to
      the subject matter contained herein shall be binding upon or enforceable against
      any of the parties. This Agreement and the documents executed pursuant to it
      may
      be amended only in a writing signed by authorized representatives of the
      parties. No provision of this Agreement or any document executed pursuant to
      it
      may be waived except in a writing signed by authorized representatives of the
      parties.

    

    This
      Agreement shall be governed and construed by the laws of the State of Tennessee,
      without regard to its choice of law rules. The parties agree that the only
      proper venue for any dispute under this Agreement shall be in the state or
      federal courts located in Shelby County, Tennessee.

     

    

    8.
      Construction.
      If any
      section or provision of this Agreement shall be subject to two constructions,
      one of which would render such section or provision invalid, then such section
      or provision shall be given that construction that would render it
      valid.

    

    9.
      Remedies.
      In the
      event of breach by Employee of any provision of this Agreement, Employee
      acknowledges that such breach will cause irreparable damage to AuoZone, the
      exact amount of which will be difficult or impossible to ascertain, and that
      remedies at law for any such breach will be inadequate. Accordingly, AutoZone
      shall be entitled, in addition to any other rights or remedies existing in
      its
      favor, to obtain, without the necessity for any bond or other security, specific
      performance and/or injunctive relief in order to enforce, or prevent breach
      of
      any such provision. In the event Employee breaches this Agreement in any way,
      any unpaid Benefits shall immediately terminate. AutoZone shall have the right,
      but not the obligation, to exercise any of its remedies under this Agreement
      or
      any that may be allowed by law in the event of a breach of this Agreement.
      Any
      such remedies available to AutoZone shall be cumulative, not
      exclusive.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    10.
      Further
      Assurances.
      Employee warrants and represents to AutoZone that he has returned to AutoZone
      all keys, documents, and other property of AutoZone. Should Employee fail or
      refuse to return any AutoZone property, AutoZone shall be entitled to exercise
      its rights under “Remedies”, in addition to any rights that AutoZone may have by
      law.

    

    The
      parties agree to execute on or after the date of the execution of this Agreement
      any and all reasonable additional documents as requested by the other or its
      counsel to effectuate the purposes hereof.

     

    

    IN
      WITNESS WHEREOF, the respective parties execute this Agreement.

    

    
      	AutoZone,
              Inc.	 	 	 
	 	 	 	 
	By:
              /s/ William C.
              Rhodes, III	 	 	/s/
              Michael E.
              Longo
	
              
Title:
              President & CEO	 	 	
              
Employee
	 	 	 	 
	By: /s/ Harry L. Goldsmith 	 	 	10/19/05
	
              

            	 	 	Date 
	Title: Exec. V.P., General Counsel &
              SecretaryExhibit
      10.2

     

    April
      13,
      2006

     

    

    

    

    Mr.
      Bill
      Giles

    59
      Spier
      Drive

    South
      Orange, NJ 07079

    

    Dear
      Bill:

    

    On
      behalf
      of AutoZone, I am delighted to offer to you the position of Executive Vice
      President, Chief Financial Officer, subject to Board approval, reporting
      directly to me. This position is a member of the Executive
      Committee.

    

    Our
      offer
      includes a base salary of $430,000 per annum plus an annual bonus target of
      60%
      of your base salary. You will be eligible for a performance and salary review
      at
      the end of Fiscal 2006. We will guarantee your Fiscal 2006 Bonus at 100% payout,
      prorated for your time in position for Fiscal 2006. Actual bonus awards for
      Fiscal 2007 will be determined by the achievement of pre-defined Company and
      Business Unit objectives. Bonus can therefore be less than target, but can
      also
      exceed targets based on above plan performance. 

    

    Subject
      to the approval of the Compensation Committee of the Board of Directors of
      AutoZone, Inc., you will receive an initial AutoZone, Inc. common stock option
      grant of 40,000 non-qualified stock options, which will be granted in accordance
      with the AutoZone, Inc. Second Amended and Restated 1996 Stock Option Plan.
      These options will be presented to the Compensation Committee for consideration
      at or before the next meeting of the Compensation Committee which occurs after
      your start date. Thereafter, on an annual basis, beginning on or around October
      2006, subsequent grants will be determined by pre-defined performance
      achievements and the established annual range of options. All stock option
      grants are made by the Compensation Committee of the Board of Directors of
      AutoZone. Notwithstanding, any and all Stock Option Plans and future grants
      are
      subject to change or may be discontinued at any time.

    

    Our
      offer
      of employment also includes relocation support, outlined in the Relocation
      Policy you will receive. This includes coverage for the home sale and purchase
      transaction costs, personal goods shipment, and suitable temporary housing.
      The
      cap for eligibility for the home sale program will be a home sale value not
      to
      exceed $1,200,000. We will also include a one-time miscellaneous gross payment
      of $10,000, as noted in the relocation policy (minus tax withholding and other
      customary deductions).

    

    AutoZone
      will provide a gross sign-on bonus of $50,000, payable 1/2 up front and 1/2
      after one year of service. Tax withholding and other reasonable and customary
      deductions will be deducted from the $50,000 gross payment. 

    

    You
      will
      be eligible to participate in AutoZone's full group benefit programs, which
      currently include medical, dental, vision, life and 401(k) program (subject
      to
      the terms and conditions of each program). There is also a company paid
      Executive Disability Plan to include short-term and long-term
      disability.

    

    As
      an
      Executive Vice President, you are eligible to participate in our Executive
      Medical Health Plan and the Executive Stock Purchase Plan. You are also eligible
      for four weeks of vacation. These benefits are granted and reviewed on an annual
      basis. All benefits are subject to review and may change from time to time.
      

    

    Notwithstanding,
      your employment will be “at will” and terminable at any time. 

    

    Bill,
      the
      entire Executive Committee and the Board are enthusiastic about you joining
      our
      team. I am personally looking forward to your positive response and to working
      with you for many years to come. Please feel free to call me or Tim Briggs
      if
      you have any questions.

    

    Sincerely,

    

    /s/
      Bill

    Bill
      Rhodes

    President
      & CEO

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