Document:

Form of Performance Share Unit Award Agreement

 Exhibit 10.25 
 ASBURY AUTOMOTIVE GROUP, INC. 
 2002 EQUITY INCENTIVE PLAN 
 PERFORMANCE SHARE UNIT AWARD AGREEMENT 
 PERFORMANCE SHARE UNIT AWARD AGREEMENT UNDER THE ASBURY AUTOMOTIVE GROUP, INC. 2002 EQUITY INCENTIVE PLAN dated as of date between Asbury Automotive Group, Inc. (the “Company”), a Delaware corporation, and {NAME}.

 This Performance Share Unit Award Agreement (the “Award Agreement”) sets forth the terms and conditions of a target award
of {X} performance compensation shares (the “Award”) that are subject to the terms and conditions specified herein (“Performance Awards”) and that are granted to you under the Asbury Automotive Group, Inc. 2002
Equity Incentive Plan (the “Plan”). This Award provides you with the opportunity to earn, subject to the terms of this Award Agreement, shares of the Company’s common stock, $0.01 par value (“Shares”).

 THIS AWARD IS SUBJECT TO ALL TERMS AND CONDITIONS OF THE PLAN AND THIS AWARD AGREEMENT. BY SIGNING YOUR NAME BELOW, YOU WILL HAVE
CONFIRMED YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS OF THIS AWARD AGREEMENT. 
 SECTION 1. Definitions. Capitalized terms used in
this Award Agreement that are not defined in this Award Agreement have the meanings as used or defined in the Plan. As used in this Award Agreement, the following terms shall have the meanings set forth below: 
 “Cause” shall have the meaning set forth in any employment agreement then in effect between you, on the one hand, and the Company or any
of its Affiliates, on the other hand, or, if not defined in any such agreement, “Cause” shall mean a finding by the Committee of any of the following: (a) your being convicted of, or entering a plea of nolo contendere to, any crime
that constitutes a felony or involves moral turpitude, (b) your gross negligence or serious misconduct (including, without limitation, any criminal, fraudulent or dishonest conduct) that is injurious to the Company or any of its Affiliates,
(c) your material breach of your employment or service contract with the Company or any of its Affiliates, (d) your willful and continued failure to substantially perform your duties with the Company and it’s Affiliates or
(e) your material breach of a material written policy of the Company, in each case (with respect to clauses (b), (c), (d) and (e)) which is not corrected within 30 days after written notice from the Company. The determination of the
existence of Cause shall be made by the Committee in good faith. 
 “Committee” shall mean the compensation committee of the
Board, or such other committee of the Board as may be designated by the Board to administer the Plan. 

 “Determination Date” means the date, as determined by the Committee, on which the
Committee determines whether and to what extent the Performance Goals with respect to the Award have been achieved; provided that such date shall be no later than March 15, 2010. 
 “Performance Commencement Date” means January 1, 2007. 
 “Performance Cycle” means calendar years 2007 through 2009. 
 SECTION 2. (a) Performance-Based Right to Payment. The number of Shares that shall be issued pursuant to the Award shall be determined based
on the Company’s achievement of Performance Goals as set forth on Exhibit A. On the Determination Date, the Committee in its sole discretion shall determine whether and to what extent the Performance Goals as set forth on Exhibit
A have been attained. Except as otherwise provided in Section 4 of this Award Agreement, the payment of Shares with respect to your Performance Awards is contingent on the attainment of the Performance Goals as set forth on Exhibit
A. Accordingly, except as otherwise provided in Section 4 of this Award Agreement, you will not become entitled to payment with respect to the Performance Awards subject to this Award Agreement unless and until the Committee determines that
the Performance Goals set forth on Exhibit A have been attained. Upon such determination by the Committee and subject to the provisions of the Plan and this Award Agreement, you shall be entitled to payment of that portion of this Award as
corresponds to the Performance Goals attained (as determined by the Committee in its sole discretion) as set forth on Exhibit A. Furthermore, pursuant to Section 3 (except as otherwise provided therein) and except as otherwise provided
in Section 4 of this Award Agreement, in order to be entitled to payment with respect to any Performance Awards, you must be employed by the Company or an Affiliate on the Payment Date, provided that, to the extent payments pursuant to this
Award Agreement are attributable to Dividend Equivalents (as defined in Section 6), such payments will be made in cash. 
 (b)
Payment of Award. The Committee shall determine the date on which payments pursuant to this Award Agreement shall be made (the “Payment Date”); provided that (i) the Payment Date shall not be any earlier than the
Determination Date and (ii) except as otherwise provided in Section 4(a)(ii) of this Award Agreement, the Payment Date shall not be earlier than January 1, 2010, and not later than March 15, 2010. Notwithstanding anything herein
to the contrary, the Payment Date shall be within the period required by Section 409A of the Code, such that the payment qualifies as a “short-term deferral” pursuant to Section 1.409A-1(b)(4) of the Department of Treasury
regulations. Except as otherwise provided in Section 4 of this Award Agreement, payments made pursuant to this Award Agreement shall be payable in Shares. 
 SECTION 3. Forfeiture of Performance Awards. Except as otherwise provided in Section 4 of this Award Agreement, if your employment with the Company and its Affiliates terminates prior to the Payment Date,
your rights with respect to any Performance Awards awarded to you pursuant to this Award Agreement shall immediately terminate, and you will be entitled to no payments or benefits with respect thereto, unless the Committee, as permitted pursuant to
the terms of the Plan, determines in its sole discretion otherwise (in which case any payment to be made to you pursuant to 

  

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this Award Agreement will be made to you on the Payment Date and, for the avoidance of doubt, within the period required by Section 409A of the Code,
such that it qualifies as a “short-term deferral” pursuant to Section 1.409A-1(b)(4) of the Department of Treasury regulations). 
 SECTION 4. Change of Control. In the event of a Change of Control after the date of this Award Agreement, the provisions of this Section 4 shall apply. 
 (a) Timing of Payment. In the event of a Change of Control after the date of this Award Agreement and prior to the Payment Date, to the extent
your rights with respect to Performance Awards have not previously been terminated in connection with the termination of your employment with the Company and its Affiliates prior to such Change of Control, payments made pursuant to this Award
Agreement: 
 (i) shall be paid on the Payment Date, provided you remain continuously employed with the Company and its
Affiliates through the Payment Date; 
 (ii) shall be paid promptly following the date of your termination of employment with
the Company and its Affiliates if your employment is involuntarily terminated (other than for Cause) by the Company and its Affiliates following such Change of Control (but in no event later than the fifteenth day of the third month following the
calendar year in which such termination occurs); or 
 (iii) shall be forfeited if your employment with the Company and its
Affiliates is terminated prior to the Payment Date for any reason other than an involuntary termination described in the preceding clause (ii). 
 (b) Form of Payment. If the Change of Control occurs prior to the Payment Date, any amount to be paid under this Award Agreement shall be paid (at such time as determined in accordance with paragraph (a) above) in equity
securities of the successor corporation (the “ Acquiror Securities “) with the number of such Acquiror Securities determined by calculating the number of Shares earned under this Award Agreement (as determined in accordance with
paragraph (c) below) and converting such Shares on the same basis as the conversion applicable to holders of Shares generally in connection with the Change of Control; provided, however, that if the consideration received by
holders of Shares generally in connection with the Change of Control is not solely Acquiror Securities, the Committee may, with the consent of the successor corporation, provide that the amount to be paid under this Award Agreement will be solely in
the form of Acquiror Securities (other than any amount in respect of Dividend Equivalents, which shall be paid in cash in accordance with Section 6) equal in fair market value to the per Share consideration received by holders of Shares
generally in connection with the Change of Control. Notwithstanding the foregoing, the successor corporation may elect, no later than 90 days following a Change of Control (but in no event later than the scheduled payment date determined in
accordance with paragraph (a) above), to settle (at such time as determined in accordance with paragraph (a) above) the Performance Awards in a lump-sum cash payment (in lieu of settling such Performance Awards with Acquiror Securities) in
an amount equal to the product of (i) the number of Shares earned under this Award Agreement (as determined in accordance with paragraph 

  

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(c) below) and (ii) the fair market value per Share at the time of the Change of Control, as determined by the Committee in its sole discretion, and an
amount equal to the value of the Dividend Equivalents retained by the Company with respect to the Shares as of the Change of Control shall be added to the product of the foregoing clauses (i) and (ii); provided, however, that, in
the event the consideration received by holders of Shares in connection with the Change of Control is paid solely in cash, the successor corporation shall be deemed to have made such election as of the time of such Change of Control. 
 (c) Determination of Performance Results. (i) If the Change of Control occurs prior to the first anniversary of the Performance Commencement
Date, the Performance Goals set forth on Exhibit A shall be deemed to have been satisfied at the target level. 
 (ii) If the
Change of Control occurs on or following the first anniversary of the Performance Commencement Date and prior to the third anniversary of the Performance Commencement Date, immediately prior to the Change of Control, the Committee in its sole
discretion shall determine whether and to what extent the Performance Goals as set forth on Exhibit A have been attained as of such Change of Control. For purposes of this clause (ii), the Committee shall determine the performance results for
(A) any completed year in the Performance Cycle and (B) any year in the Performance Cycle which is not fully completed as of the Change of Control but in which at least six full months have elapsed prior to the Change of Control
(collectively, the “Completed Years”). For any Completed Year that does not consist of a full twelve months, the Committee in its sole discretion shall determine whether and to what extent the Performance Goals as set forth on
Exhibit A have been attained for such year on an annualized basis. 
 (A) If there is only one Completed Year prior to the Change of
Control, the points achieved during the Completed Years shall be multiplied by three for purposes of determining the level of achievement on the cumulative three-year point scale set forth on Exhibit A. 
 (B) If there are only two Completed Years prior to the Change of Control, the points achieved during the Completed Years shall be multiplied by 1.5 for
purposes of determining the level of achievement on the cumulative three-year point scale set forth on Exhibit A. 
 (C) If there are
three Completed Years prior to the Change of Control, the points achieved during the Completed Years shall be multiplied by 1.0 for purposes of determining the level of achievement on the cumulative three-year point scale set forth on Exhibit
A. 
 SECTION 5. Grant Subject to Plan Provisions. This Award is made pursuant to the Plan, the terms of which are incorporated
herein by reference, and in all respects shall be interpreted in accordance with the Plan. The grant and terms of this Award are subject to the provisions of the Plan and to interpretations, regulations and determinations concerning the Plan
established from time to time by the Committee in accordance with the provisions of the Plan, including, but not limited to, provisions 

  

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pertaining to (a) rights and obligations with respect to withholding taxes, (b) the registration, qualification or listing of the Company’s
shares, (c) capital or other changes of the Company and (d) other requirements of applicable law. The Committee shall have the authority to interpret and construe this Award pursuant to the terms of the Plan, and its decisions shall be
conclusive as to any questions arising hereunder. This Award is granted pursuant to Section 6(e) of the Plan and shall not be deemed a “Performance Compensation Award” for purposes of Section 6(g) of the Plan. This Award,
nevertheless, shall be subject to the terms of Section 6(g); provided, however, that actions otherwise required to be taken during the first 90 days of the Performance Period may be taken following such 90-day period for purposes
of this Award. Notwithstanding the provisions of Section 6(g)(vi)(D) of the Plan, the Committee shall not exercise the use of negative discretion authorized under Section 6(g)(vi)(D) of the Plan to reduce or eliminate the amount of the
Performance Award earned under the terms of this Award Agreement (it being understood that the determination of the attainment of the Performance Goals as set forth on Exhibit A shall be in the sole discretion of the Committee and shall not
be deemed to be a reduction or elimination of the Performance Award for this purpose). 
 SECTION 6. Certain Rights as a Shareholder.
You shall not have any rights or privileges of a shareholder with respect to the Shares that may be issued and delivered to you or your legal representative on the Payment Date pursuant to this Award, except that you will be entitled to receive an
amount in cash equal to the value of the dividends that were paid on the Shares during the Performance Cycle (the “Dividend Equivalents”). Such Dividend Equivalents will be retained by the Company and will be paid in cash if and
when the Shares are issued. 
 SECTION 7. No Employment or Other Rights. The grant of this Award shall not confer upon you any right
to be retained as a director, officer or employee of or to the Company or any of its Affiliates and shall not interfere in any way with the right of the Company and its Affiliates to terminate your employment or service at any time. The right of the
Company and its Affiliates to terminate at will your employment or service at any time for any reason, free from any liability or any claim under the Plan or this Award Agreement, is specifically reserved unless otherwise expressly provided in the
Plan or in this Award Agreement. 
 SECTION 8. Non-Transferability of Performance Awards. Your rights and interests under this Award
Agreement may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by you except, in the event of your death, by will or by the laws of descent and distribution, and any such purported assignment, alienation,
pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate; provided that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer
or encumbrance. 
 SECTION 9. Successors and Assigns of the Company. The terms and conditions of this Award Agreement shall be binding
upon and shall inure to the benefit of the Company and its successors and assigns. 
  

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 SECTION 10. Taxes, Consents, Stop Transfer Orders and Legends. (a) Taxes. The delivery
of Shares pursuant to Section 2(b) (or any cash payment made pursuant to Section 4) and any Dividend Equivalents pursuant to Section 6 is conditioned on satisfaction of any applicable withholding taxes in accordance with
Section 9(d) of the Plan. You are solely responsible and liable for the satisfaction of all taxes and penalties that may arise in connection with this Award (including any taxes arising under Section 409A of the Code), and the Company
shall not have any obligation to indemnify or otherwise hold you harmless from any or all of such taxes. The Committee shall have the discretion to unilaterally modify this Award in a manner (i) that it in good faith believes conforms with the
requirements of Section 409A of the Code and (ii) for any distribution event that could be expected to violate Section 409A of the Code, in order to make the distribution only upon a “permissible distribution event” within
the meaning of Section 409A of the Code (as determined by the Committee in good faith). The Committee shall have the sole discretion to interpret the requirements of the Code, including Section 409A, for purposes of the Plan and this
Award. 
 (b) Consents. Your rights in respect of Performance Awards are conditioned on the receipt to the full satisfaction of the
Committee of (i) any required consents that the Committee may determine to be necessary or advisable (including, without limitation, your consenting to the Company’s supplying to any third party recordkeeper of the Plan such personal
information as the Committee deems advisable to administer the Plan) and (ii) your making or entering into such written representations, warranties and agreements in connection with the acquisition of any Shares pursuant to this Award as the
Committee may request in order to comply with applicable securities laws or this Award. 
 (c) Stop Transfer Orders and Legends. All
certificates for Shares or other securities of the Company or any Affiliate delivered under the Plan pursuant to this Award shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or
the rules, regulations, and other requirements of the SEC, any stock exchange upon which such Shares or other securities are then listed, and any federal or state laws, and the Committee may cause a legend or legends to be put on any such
certificates to make appropriate reference to such restrictions. 
 SECTION 11. Committee Discretion. Subject to the terms of the
Plan, the Committee shall have full and plenary discretion with respect to any actions to be taken or determinations to be made in connection with this Award Agreement, and its determinations shall be final, binding and conclusive. 
 SECTION 12. Confidentiality. You hereby agree to keep confidential, and to not disclose to anyone, the existence and terms of this Award Agreement
(including the Performance Goals set forth on Exhibit A), except to your immediate family and your financial and legal advisors, or as may be required by law or ordered by a court with valid jurisdiction over such matter. You further agree that
any disclosure to your immediate family and your financial and legal advisors will only be made after such individuals or entities acknowledge and agree to maintain the confidentiality of this Award Agreement and its terms. 
  

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 SECTION 13. Applicable Law. The validity, construction, interpretation and effect of this Award
Agreement shall be governed by and determined in accordance with the laws of the State of Delaware without giving effect to the conflict of laws provisions thereof. 
 SECTION 14. Notice. All notices, requests, demands and other communications required or permitted to be given under the terms of this Award Agreement shall be in writing and shall be deemed to have been duly
given when delivered by hand or overnight courier or three Business Days after they have been mailed by U.S. registered mail, return receipt requested, postage prepaid, addressed to the other party as set forth below: 
  

			
	If to the Company:	  	 Asbury Automotive Group, Inc.
 622 Third
Avenue
 New York, NY 10017
 Attention: General
Counsel

		
	If to you:	  	At the then-current address shown on the payroll of the Company

 The Company and you may change the address to which notices under this Award Agreement shall be sent by providing
written notice to the other in the manner specified above. Notwithstanding the above, the Company and its Affiliates may provide notice to you by email or other electronic means to which you have regular access. 
 SECTION 15. Section 409A. This Award Agreement and the Award are intended to be exempt from the provisions of Section 409A of the Code
and Department of Treasury regulations and other interpretive guidance issued thereunder, as providing for any payments to be made within the applicable “short-term deferral” period (within the meaning of Section 1.409A-1(b)(4) of the
Department of Treasury regulations) following the lapse of a “substantial risk of forfeiture” (within the meaning of Section 1.409A-1(d) of the Department of Treasury regulations). Notwithstanding any provision of this Award Agreement
to the contrary, in the event that the Committee determines that the Award may be subject to Section 409A of the Code, the Committee may adopt such amendments this Award Agreement or adopt other policies and procedures (including amendments,
policies and procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate to (a) exempt the Award from Section 409A of the Code and/or preserve the intended tax treatment of the
benefits provided with respect to the Award, or (b) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance and thereby avoid the application of penalty taxes under Section 409A of the
Code. 
 SECTION 16. Headings. Headings are given to the Sections and subsections of this Award Agreement solely as a convenience to
facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Award Agreement, the Plan or any provision thereof. 
  

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 SECTION 17. Amendment of this Award Agreement. The Committee may waive any conditions or rights
under, amend any terms of, or alter, suspend, discontinue, cancel or terminate this Award Agreement prospectively or retroactively; provided, however, that any such waiver, amendment, alteration, suspension, discontinuance,
cancellation or termination that would materially and adversely impair your rights under this Award Agreement shall not to that extent be effective without your consent (it being understood, notwithstanding the foregoing proviso, that this Award
Agreement and Performance Awards shall be subject to the provisions of Sections 6(g)(v) (including, without limitation, in connection with adjustments to the number or identity of peer companies), 4, 7(a) and 7(c) (including, without limitation, in
connection with adjustments to the number or kinds of shares, security or other property subject to this Award Agreement) of the Plan). 
 SECTION 18. Counterparts. This Award Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 IN WITNESS WHEREOF, the parties have duly executed this Award Agreement as of the date first written above. 
  

			
	ASBURY AUTOMOTIVE GROUP, INC.,
		
	By	 	  

	Name:	 	
	Title:	 	
		
	 {NAME},
	 	
		
		 	  

  

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 EXHIBIT A 
 Performance Goals with Respect to the Performance Awards for the Performance Period from 
 [Date]
through [Date] 
 Points Achieved        [Insert scale] 
 % of Standard Award    [ insert award percentage] 
 Point Scoring 
  

							
	 Metric
	  	 Description
	  	 Point Allocation
	  	 Measurement

	New Vehicle Retail Revenue Same Store	  	Percent increase in same –store new vehicle retail revenue vs. other public consolidators	  	[Insert point allocation]	  	[ insert measurement]
				
	Used Vehicle Retail Revenue Same Store	  	Percent increase in same – store used vehicle retail revenue vs. other public consolidators	  		  	
				
	Platform Same Store F&I PVR	  	Percent growth in platform PVR	  		  	
				
	Fixed Operations Gross Profit Same Store	  	Percent growth in same – store fixed operations gross profit	  		  	
				
	EPS Growth	  	Year-over-year percentage growth in EPS from continuing operationsForm of Restricted Share Award Agreement for Non-Employee Directors

 Exhibit 10.26 
 ASBURY AUTOMOTIVE GROUP, INC. 
 2002 EQUITY INCENTIVE PLAN 
 RESTRICTED SHARE AWARD AGREEMENT 
 FOR
NON-EMPLOYEE DIRECTORS 
 RESTRICTED SHARE AWARD AGREEMENT UNDER THE ASBURY AUTOMOTIVE GROUP, INC. 2002 EQUITY INCENTIVE PLAN dated as of
[—] (the “Grant Date”), between Asbury Automotive Group, Inc., a Delaware Corporation (the “Company”), and [NAME]. 
 This Restricted Share Award Agreement (this “Award Agreement”) sets forth the terms and conditions of an award of [—] shares (the “Award”) of the Company’s Common Stock, $0.01 par value (“Shares”), that are subject to certain restrictions on transfer and risks of forfeiture and other terms and conditions
specified herein (“Restricted Shares”) and that are granted to you under the Asbury Automotive Group, Inc. 2002 Equity Incentive Plan (the “Plan”). 
 THIS AWARD IS SUBJECT TO ALL TERMS AND CONDITIONS OF THE PLAN AND THIS AWARD AGREEMENT. BY SIGNING YOUR NAME BELOW, YOU WILL HAVE CONFIRMED YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS OF THIS AWARD AGREEMENT.

 SECTION 1. Definitions. Capitalized terms used in this Award Agreement that are not defined in this Award Agreement have the
meanings as used or defined in the Plan. As used in this Award Agreement, the following terms have the meanings set forth below: 
 “Business Day” means a day that is not a Saturday, a Sunday or a day on which banking institutions are legally permitted to be closed in the City of New York. 
 “Disability” means a physical or mental disability or infirmity that prevents the performance by you of your duties in the course of
your service on the Board lasting (or likely to last) for a continuous period of six months or longer. The determination of the existence of Disability shall be made by the Committee in good faith, and the Committee’s determination shall be
conclusive for purposes of this Award. 
 “Vesting Date” means any date on which your rights with respect to all or a
portion of the Restricted Shares subject to this Award Agreement may become fully vested, and the restrictions set forth in this Award Agreement may lapse, as provided in Section 3(a) of this Award Agreement. 
 SECTION 2. The Plan. This Award is made pursuant to the Plan, the terms of which are incorporated herein by reference, and in all respects shall
be interpreted in accordance with the Plan. The grant and terms of this Award are subject to the provisions of the Plan and to interpretations, regulations and determinations concerning the Plan established from time to time by the Committee in
accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (a) rights 

 
and obligations with respect to withholding taxes, (b) the registration, qualification or listing of the Company’s shares, (c) capital or
other changes of the Company and (d) other requirements of applicable law. The Committee shall have the authority to interpret and construe this Award pursuant to the terms of the Plan, and its decisions shall be conclusive as to any questions
arising hereunder. 
 SECTION 3. Vesting and Delivery. (a) Vesting. On each Vesting Date set forth below, your rights with
respect to the number of Restricted Shares that corresponds to such Vesting Date, as specified in the chart below, shall become vested, and the restrictions set forth in this Award Agreement shall lapse, provided that you must serve as a member of
the Company’s Board of Directors (the “Board”) as of the applicable Vesting Date, except as otherwise determined by the Committee in its sole discretion. 
  

			
	 Vesting Date
	  	 Percentage Vested

	First anniversary of the Grant Date	  	[Insert percentage]
	Second anniversary of the Grant Date	  	
	Third anniversary of the Grant Date	  	

 In the event of a Change of Control (as defined in the Plan) after the Grant Date, the Restricted
Shares, to the extent then outstanding and unvested, shall automatically be deemed vested as of immediately prior to such Change of Control, as contemplated by Section 8 of the Plan. In the event you cease to serve as a member of the Board due
to your (a) death or (b) Disability, the Restricted Shares, to the extent then outstanding and unvested, shall automatically be deemed vested as of the date of your cessation of service on the Board by reason of such death or Disability.
The Committee, in its sole discretion, may accelerate the vesting of all or any portion of the Restricted Shares, at any time and from time to time. 
 (b) Delivery of Shares. On or following the Grant Date, certificates issued in respect of Restricted Shares shall be registered in your name and deposited by you, together with a stock power endorsed in blank,
with the Company or such other custodian as may be designated by the Committee or the Company, and shall be held by the Company or other custodian, as applicable, until such time, if any, as your rights with respect to such Restricted Shares become
vested. Upon the vesting of your rights with respect to such Restricted Shares, the Company or other custodian, as applicable, shall deliver such certificates to you or your legal representative. 
 SECTION 4. Forfeiture of Restricted Shares. Unless the Committee determines otherwise or except as otherwise set forth in Section 3(a), if
your rights with respect to any Restricted Shares or Retained Distributions (as defined below) awarded to you pursuant to this Award Agreement have not become vested prior to the date on which 

  

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you cease to serve as a member of the Board, your rights with respect to such Restricted Shares or Retained Distributions shall immediately terminate, and
you will be entitled to no further payments or benefits with respect thereto. 
 SECTION 5. Voting Rights; Dividend Equivalents. Until
the forfeiture of any Restricted Shares pursuant to Section 4 above and subject to Sections 3 and 6 hereof, you shall have the right to vote such Restricted Shares, to receive and retain all regular cash dividends paid on such Restricted Shares
and to exercise all other rights, powers and privileges of a holder of Shares with respect to such Restricted Shares; provided that the Company will retain custody of all distributions other than regular cash dividends (“Retained
Distributions”) made or declared with respect to the Restricted Shares (and such Retained Distributions will be subject to the same restrictions, terms and conditions as are applicable to the Restricted Shares) until such time, if ever, as the
Restricted Shares with respect to which such Retained Distributions have been made, paid or declared have become vested, and such Retained Distributions shall not bear interest or be segregated in a separate account. 
 SECTION 6. Non-Transferability of Restricted Shares and Retained Distributions. Unless otherwise provided by the Committee in its discretion,
Restricted Shares and Retained Distributions may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered except as provided in Section 9(a) of the Plan. Any purported assignment, alienation, pledge,
attachment, sale or other transfer or encumbrance of Restricted Shares or Retained Distributions in violation of the provisions of this Section 6 and Section 9(a) of the Plan shall be void. 
 SECTION 7. Taxes, Consents, Stop Transfer Orders and Legends. (a) Taxes. The vesting of any Shares pursuant to Section 3(a) and
the delivery of Share certificates pursuant to Section 3(b) are conditioned on satisfaction of any applicable withholding taxes in accordance with Section 9(d) of the Plan. You are solely responsible and liable for the satisfaction of all
taxes and penalties that may arise in connection with this Award Agreement (including any taxes arising under Section 409A of the Code), and the Company shall not have any obligation to indemnify or otherwise hold you harmless from any or all
of such taxes. The Committee shall have the discretion to unilaterally modify this Award Agreement in a manner that it in good faith believes conforms with the requirements of Section 409A of the Code for any distribution event that could be
expected to violate Section 409A of the Code, in order to make the distribution only upon a “permissible distribution event” within the meaning of Section 409A of the Code (as determined by the Committee in good faith). The
Committee shall have the sole discretion to interpret the requirements of the Code, including Section 409A, for purposes of the Plan and this Award Agreement. 
 (b) Consents. Your rights in respect of the Restricted Shares are conditioned on the receipt to the full satisfaction of the Committee of (i) any required consents that the Committee may determine to be
necessary or advisable (including, without limitation, your consenting to the Company’s supplying to any third-party recordkeeper of the Plan such personal information as the Committee deems advisable to administer the Plan, (ii) your
making or entering into such written representations, 

  

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warranties and agreements in connection with the acquisition of any Shares pursuant to this Award as the Committee may request in order to comply with
applicable securities laws or this Award and (iii) a stock power endorsed by you in blank in accordance with Section 3(b). 
 (c)
Stop Transfer Orders and Legends. The Company may affix to certificates for Shares issued pursuant to this Award Agreement any legend that the Committee determines to be necessary or advisable (including to reflect any restrictions to which
you may be subject under any applicable securities laws). The Company may advise the transfer agent to place a stop order against any legended Shares. 
 SECTION 8. Successors and Assigns of the Company. The terms and conditions of this Award Agreement shall be binding upon and shall inure to the benefit of the Company and its successors and assigns. 

SECTION 9. Committee Discretion. Subject to the terms of the Plan, the Committee shall have full and plenary discretion with respect to any
actions to be taken or determinations to be made in connection with this Award Agreement, and its determinations shall be final, binding and conclusive. 
 SECTION 10. Notice. All notices, requests, demands and other communications required or permitted to be given under the terms of this Award Agreement shall be in writing and shall be deemed to have been duly
given when delivered by hand or overnight courier or three Business Days after they have been mailed by U.S. registered mail, return receipt requested, postage prepaid, addressed to the other party as set forth below: 
  

			
	If to the Company:	  	 Asbury Automotive Group, Inc.
 [Address]
 [Address]
 Attention: [General Counsel]
 [[Fax :][Telecopy :] (212) [—]-[—]]

		
	If to you:	  	 [Name]
 [Address]
 [Address]

 The parties may change the address to which notices under this Award Agreement shall be sent by providing written
notice to the other in the manner specified above. Notwithstanding the above, the Company and its Affiliates may provide notice to you by email or other electronic means to which you have regular access. 
 SECTION 11. Section 409A. This Award Agreement and the Award are intended to be exempt from the provisions of Section 409A of the Code
and Department of Treasury regulations and other interpretive guidance issued thereunder, as providing for the transfer of restricted property as described in Section 1.409A-1(b)(6) of the 

  

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Department of Treasury regulations. Notwithstanding any provision of this Award Agreement to the contrary, in the event that the Committee determines that
the Award may be subject to Section 409A of the Code, the Committee may adopt such amendments this Award Agreement or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other
actions, that the Committee determines are necessary or appropriate to (a) exempt the Award from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Award, or (b) comply
with the requirements of Section 409A of the Code and related Department of Treasury guidance and thereby avoid the application of penalty taxes under Section 409A of the Code. 
 SECTION 12. Headings. Headings are given to the Sections and subsections of this Award Agreement solely as a convenience to facilitate reference.
Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Award Agreement or any provision thereof. 
 SECTION 13. Amendment of this Award Agreement. The Committee may waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate this Award Agreement prospectively
or retroactively; provided, however, that any such waiver, amendment, alteration, suspension, discontinuance, cancelation or termination that would materially and adversely impair your rights under this Award Agreement shall not to
that extent be effective without your consent (it being understood, notwithstanding the foregoing proviso, that this Award Agreement and the Restricted Shares shall be subject to the provisions of Sections 6(d), 7(a) and 7(c) of the Plan).

 SECTION 14. Counterparts. This Award Agreement may be signed in counterparts, each of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument. 
 IN WITNESS WHEREOF, the parties have duly executed this
Award Agreement as of the date first written above. 
  

			
	ASBURY AUTOMOTIVE GROUP, INC.,
		
	by	 	  

	Name:	 	
	Title:	 	
		
	 [NAME],
	 	
		 	  

  

 5

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