Document:

Exhibit 4.13

 

THIS NOTE IS A DEPOSITORY SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME
OF A DEPOSITORY (AS DEFINED IN THE INDENTURE) OR A NOMINEE THEREOF, THIS NOTE MAY NOT
BE EXCHANGED IN WHOLE OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF
THIS NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY
PERSON OTHER THAN SUCH DEPOSITORY OR A NOMINEE THEREOF, EXCEPT IN THE
CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY NOTE AUTHENTICATED AND DELIVERED
UPON REGISTRATION OF, TRANSFER OF, OR IN EXCHANGE FOR, OR IN LIEU OF, THIS NOTE
WILL BE A DEPOSITORY SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED
CIRCUMSTANCES.

 

ALLIANT
TECHSYSTEMS INC.

 

	
  No. 1

  	
   

  	
  $400,000,000

  

 

6 3⁄4% Senior Subordinated Note due 2016

 

CUSIP No. 018804
AL 8

ISIN No. US018804AL88

 

ALLIANT TECHSYSTEMS INC., a Delaware
corporation, promises to pay to Cede & Co., or registered assigns, the
principal sum of FOUR HUNDRED MILLION DOLLARS on April 1, 2016.

 

Interest Rate:  6.750%

Interest Payment Dates:  April 1 and October 1.

Record Dates: 
March 15 and September 15.

 

Additional provisions of this Note are set
forth on the other side of this Note.

 

 

IN WITNESS
WHEREOF, the Company has caused this instrument to be duly executed.

 

	
   

  	
  ALLIANT
  TECHSYSTEMS INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  by

  	
  /s/ Keith D.
  Ross

  	
   

  
	
   

  	
  Name: Keith
  D. Ross

  	
   

  
	
   

  	
  Title:
  Senior Vice President, General Counsel and

  	
   

  
	
   

  	
  Secretary

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  by

  	
  /s/ Robert
  J. McReavy

  	
   

  
	
   

  	
  Name: Robert
  J. McReavy

  
	
   

  	
  Title: Vice
  President and Treasurer

  
	
   

  	
   

  	
   

  	
   

  
	
  Dated: March 15,
  2006

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  This is one
  of the Securities of the Series designated herein and referred to in the
  within-mentioned Indenture.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF
  NEW YORK TRUST COMPANY, N.A.,

  
	
   

  	
  as Trustee

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  by

  	
  /s/ D.G.
  Donovan

  	
   

  
	
   

  	
   

  	
  Authorized Signatory

  	
   

  
								

 

 

REVERSE OF SECURITY

 

6 3⁄4% Senior Subordinated Note due 2016

 

1.                                       Interest

 

ALLIANT TECHSYSTEMS INC., a Delaware
corporation (such corporation, and its successors and assigns under the
Indenture hereinafter referred to, being herein called the “Company”), promises
to pay interest on the principal amount of this Note at the rate per annum
shown above. The Company shall pay interest semiannually on April 1 and October 1
of each year, commencing October 1, 2006. Interest on the Notes shall
accrue from the most recent date to which interest has been paid or duly
provided for or, if no interest has been paid or duly provided for, from March 15,
2006 until the principal hereof is due. Interest shall be computed on the basis
of a 360-day year of twelve 30-day months. The Company shall pay interest on
overdue principal at the rate borne by the Notes plus 1% per annum, and it
shall pay interest on overdue installments of interest at the same rate to the
extent lawful.

 

2.                                       Method
of Payment

 

The Company shall pay interest on the Notes
(except defaulted interest) to the Persons who are registered Holders at the
close of business on the March 15 or September 15 next preceding the
interest payment date even if Notes are canceled after the record date and on or
before the interest payment date. Holders must surrender Notes to a Paying
Agent to collect principal payments. The Company shall pay principal, premium,
if any, and interest in money of the United States of America that at the time
of payment is legal tender for payment of public and private debts. Payments in
respect of the Notes represented by a Depository Security (including principal,
premium and interest) shall be made by wire transfer of immediately available
funds to the accounts specified by The Depository Trust Company or any
successor depository. The Company will make all payments in respect of a
certificated Security (including principal, premium, if any, and interest), at
the office of the Paying Agent, except that, at the option of the Company,
payment of interest may be made by mailing a check to the registered
address of each Holder thereof.

 

3.                                       Paying
Agent and Registrar

 

Initially, THE BANK OF NEW YORK TRUST
COMPANY, N.A., a United States banking corporation (the “Trustee”), will act as
Paying Agent and Registrar. The Company may appoint and change any Paying
Agent or Registrar without notice. The Company or any of its domestically
incorporated Restricted Subsidiaries may act as Paying Agent or Registrar.

 

4.                                       Indenture

 

The Company issued the Notes under an
Indenture dated as of March 15, 2006 (the “Base Indenture”), as amended
and supplemented by the First Supplemental Indenture dated as of March 15,
2006 (the “First Supplemental Indenture”, as amended and supplemented by the

 

1

 

First Supplemental Indenture,
being referred to herein as the “Indenture”), among the Company, the Subsidiary
Guarantors and the Trustee. The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939 (15 U.S.C. ss.ss. 77aaa-77bbbb) as in effect on the date
of the Indenture (the “TIA”). Terms defined in the Indenture and not defined
herein have the meanings ascribed thereto in the Indenture. The Notes are
subject to all terms and provisions of the Indenture, and Holders (as defined
in the Indenture) are referred to the Indenture and the TIA for a statement of
such terms and provisions.

 

The Notes are senior subordinated unsecured
obligations of the Company limited initially to $400,000,000 aggregate
principal amount, which amount may be increased at the option of the
Company if it determines to reopen the Series of Securities of which this
Note is a part and sell additional Securities (subject to Section 2.01
of the First Supplemental Indenture). The Indenture imposes certain limitations
on the ability of the Company and its Restricted Subsidiaries to, among other
things, make certain Investments and other Restricted Payments, pay dividends and
other distributions, incur Indebtedness, enter into consensual restrictions
upon the payment of certain dividends and distributions by such Restricted
Subsidiaries, enter into or permit certain transactions with Affiliates and
make Asset Dispositions. The Indenture also imposes limitations on the ability
of the Company and each Subsidiary Guarantor to consolidate or merge with or
into any other Person or convey, transfer or lease all or substantially all of
its property.

 

To guarantee the due and punctual payment of
the principal and interest, if any, on the Notes and all other amounts payable
by the Company under the Indenture and the Notes when and as the same shall be
due and payable, whether at maturity, by acceleration or otherwise, according
to the terms of the Notes and the Indenture, the Subsidiary Guarantors have,
jointly and severally, unconditionally guaranteed the Guaranteed Obligations on
a senior subordinated basis pursuant to the terms of the Indenture.

 

5.                                       Optional
Redemption

 

(a)                                  Except as set forth
in the following paragraph, the Notes shall not be redeemable at the option of
the Company prior to April 1, 2011. Thereafter, the Notes shall be
redeemable at the option of the Company, in whole or in part, at the following
redemption prices (expressed as percentages of principal amount), plus accrued
and unpaid interest to the redemption date (subject to the right of Holders of
record on the relevant record date to receive interest due on the relevant
interest payment date), if redeemed during the 12-month period commencing on April 1
of the years set forth below:

 

	
  YEAR

  	
   

  	
  REDEMPTION PRICE

  	
   

  
	
  2011

  	
   

  	
  103.375

  	
  %

  
	
  2012

  	
   

  	
  102.250

  	
  %

  
	
  2013

  	
   

  	
  101.125

  	
  %

  
	
  2014 and thereafter

  	
   

  	
  100.000

  	
  %

  

 

(b)                                 In addition, prior to April 1,
2009, the Company may redeem up to a maximum of 35% of the original
aggregate principal amount of the Notes (calculated giving

 

2

 

effect to any issuance of
Additional Notes) with the Net Cash Proceeds of one or more Qualified Equity
Offerings by the Company, at a redemption price equal to 106.750% of the
principal amount thereof, plus accrued and unpaid interest to the redemption
date (subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment date); provided, however,
that, after giving effect to any such redemption, at least 65% of the original
aggregate principal amount of the Notes (calculated giving effect to any
issuance of Additional Notes) remains outstanding. Any such redemption shall be
made within 90 days of such Qualified Equity Offering and otherwise in
accordance with the procedures set forth in the Indenture.

 

(c)                                  At any time prior to April 1,
2011, the Company may redeem all or part of the Notes upon not less
than 30 nor more than 60 days’ prior notice at a redemption price equal to the
sum of (i) 100% of the principal amount thereof, plus (ii) the
Applicable Premium as of the date of redemption, plus (iii) accrued and
unpaid interest to the date of redemption.

 

6.                                       Sinking
Fund

 

The Notes are not subject to any sinking
fund.

 

7.                                       Notice
of Redemption

 

Notice of redemption will be mailed by first-class mail
at least 30 days but not more than 60 days before the redemption date to each
Holder of Notes to be redeemed at his or her registered address. Notes may be
redeemed in part in whole multiples or $1,000 or any whole multiple of
$1,000. If notice of redemption has been given, the Notes or portions of Notes
specified in such notice shall become due and payable on the date and at the
place stated in such notice at the applicable redemption price, together with
interest accrued to the date fixed for redemption, and on and after said date
(unless the Company shall default in the payment of such Notes at the
redemption price, together with interest accrued to said date) interest on the
Notes or portions of Notes so called for redemption shall cease to accrue.

 

8.                                       Repurchase
of Notes at the Option of Holders Upon Change of Control and Asset Dispositions

 

Upon a Change of Control, any Holder of Notes
will have the right, subject to certain conditions specified in the Indenture,
to cause the Company to repurchase all or any part of the Notes of such
Holder at a purchase price equal to 101% of the principal amount of the Notes
to be repurchased plus accrued and unpaid interest to the date of repurchase
(subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment date that is on or prior
to the date of purchase) as provided in, and subject to the terms of, the
Indenture; provided, however, the Company shall not be obligated to purchase
the Notes upon a Change of Control in the event that it has optionally redeemed
all the Notes.

 

In accordance with Section 3.09 of the Indenture,
the Company will be required to offer to purchase Notes upon the occurrence of
certain events.

 

3

 

9.                                       Subordination

 

The Notes and Subsidiary Guarantees are
subordinated to Senior Indebtedness, as defined in the Indenture. To the extent
provided in the Indenture, Senior Indebtedness must be paid before the Notes
and Subsidiary Guarantees may be paid. The Company and each Subsidiary
Guarantor agrees, and each Holder by accepting a Note agrees, to the
subordination provisions contained in the Indenture and authorizes the Trustee
to give it effect and appoints the Trustee as attorney-in-fact for such
purpose.

 

10.                                 Denominations;
Transfer; Exchange

 

The Notes are in fully registered form,
without coupons, in denominations of $1,000 and any whole multiple of $1,000. A
Holder may transfer or exchange Notes in accordance with the Indenture. Upon
any transfer or exchange, the Registrar and the Trustee may require a
Holder, among other things, to furnish appropriate endorsements or transfer
documents and to pay any taxes required by law or permitted by the Indenture. The
Company will not be required to transfer or exchange any outstanding Notes
selected for redemption or purchase or to transfer or exchange any outstanding
Note for a period of 15 days prior to the mailing of a notice of redemption or
purchase of Notes to be redeemed or purchased or within 15 days of an interest
payment date.

 

11.                                 Persons
Deemed Owners

 

The registered Holder of this Note will be treated
as the owner of it for all purposes.

 

12.                                 Unclaimed
Money

 

If money for the payment of principal or
interest remains unclaimed for two years, the Trustee and the Paying Agent
shall pay the money back to the Company at its written request unless an abandoned
property law designates another Person. After any such payment, Holders
entitled to the money must look to the Company for payment as general creditors
and the Trustee and the Paying Agent shall have no further liability with
respect to such monies.

 

13.                                 Discharge
and Defeasance

 

Subject to certain conditions, the Company at
any time may terminate some of or all its obligations under the Notes and
the Indenture if the Company deposits with the Trustee money or U.S. Government
Obligations for the payment of principal and interest on the Notes to
redemption or maturity, as the case may be.

 

14.                                 Amendment,
Waiver

 

Subject to certain exceptions set forth in the Indenture, the Indenture
or the Notes may be
amended with the written consent of the Holders of a majority in principal
amount of the Notes then outstanding and any past default or compliance with
any provisions may be waived with the consent of the Holders of a majority
in principal amount of the Notes then outstanding (including consents obtained
in connection with a purchase of, or tender offer or exchange offer

 

4

 

for the Notes). Subject to certain exceptions
set forth in the Indenture, without the consent of any Holder, the Company, the
Subsidiary Guarantors and the Trustee may amend the Indenture to (i) convey,
transfer, assign, mortgage or pledge any property or assets to the Trustee as
security for the Notes; (ii) evidence the succession of another Person to
the Company, or successive successions, and the assumption by the successor
Person of the covenants, agreements and obligations of the Company or any
Subsidiary Guarantor under the Indenture; (iii) add to the covenants of
the Company and the Subsidiary Guarantors such further covenants, restrictions,
conditions or provisions for the protection of the Holders of the Notes; (iv) cure
any ambiguity or correct or supplement any provision contained in the Indenture
that may be defective or inconsistent with any other provision contained
in the Indenture, or make such other provisions in regard to matters or
questions arising under the Indenture as the Board of Directors may deem
necessary or desirable and that shall not materially and adversely affect the
interests of the Holders of the Notes; (v) evidence and provide for the
acceptance of appointment under the Indenture by a successor trustee with
respect to the Notes and add to or change any of the provisions of the
Indenture as shall be necessary to provide for or facilitate the administration
of the trusts under the Indenture by more than the one trustee pursuant to the
requirements of the Indenture; (vi) provide for uncertificated Notes in
addition to or in place of certificated Notes (provided,  however, that the uncertificated Notes are issued in registered form for
purposes of Section 163(f) of the Code, or in a manner such that the
uncertificated Notes are described in Section 163(f)(2)(B) of the
Code); (vii) to make any change in the subordination provisions of the
Indenture that would limit or terminate the benefits available to any holder of
Senior Indebtedness of the Company or a Subsidiary Guarantor (or any
Representative thereof) under such subordination provisions; (viii) add
additional Guarantees with respect to the Notes and release any Subsidiary
Guarantor in accordance with the provision of the Indenture; (ix) provide
for the issuance of Additional Notes; (x) conform the text of the
Indenture or the Notes to any provision of Description of Notes; or (xi) comply
with any requirement of the Commission in connection with the qualification of
the Indenture under the TIA.

 

15.                                 Defaults
and Remedies

 

If an Event of Default (other than an Event
of Default relating to certain events of bankruptcy, insolvency or
reorganization of the Company) occurs and is continuing, the trustee or the
Holders of at least 25% in principal amount of the outstanding Notes by notice
to the Company may declare the principal of and accrued but unpaid
interest on all the Notes to be due and payable. Upon such a declaration, such
principal and interest will be due and payable immediately. However, if any
Designated Senior Indebtedness of the Company is outstanding, the Company may not
pay the Notes until five Business Days after such holders or the Representative
of such Designated Senior Indebtedness receives notice of such acceleration
and, thereafter, may pay the Notes only if the subordination provisions of
the Indenture otherwise permit payment at that time. If an Event of Default
relating to specified events of bankruptcy, insolvency or reorganization of the
Company occurs, the principal of and interest on all the Notes will become
immediately due and payable without any declaration or other act on the part of
the trustee or any Holders. Under certain circumstances, the Holders of a
majority in principal amount of the outstanding Notes may rescind any such
acceleration with respect to the Notes and its consequences.

 

5

 

No Holder of any Note shall have any right,
by virtue or by availing of any provision of the Indenture, to institute any
action or proceeding at law or in equity or in bankruptcy or otherwise with
respect to the Indenture, or for the appointment of a trustee, receiver,
liquidator, custodian or other similar official or for any other remedy under
the Indenture, unless such Holder previously shall have given to the Trustee
written notice of an Event of Default and of the continuance thereof and the
Holders of not less than 25% in aggregate principal amount of the Notes then
Outstanding shall have made written request upon the Trustee to institute such
action or proceedings in its own name as trustee under the Indenture and shall
have offered to the Trustee security or indemnity reasonably satisfactory to it
as it may require, against the costs, expenses and liabilities to be
incurred therein or thereby and the Trustee for 60 days after its receipt of
such notice, request and offer of security or indemnity shall have failed to
institute any such action or proceeding and no direction inconsistent with such
written request shall have been given to the Trustee during such 60-day period
by Holders of a majority in principal amount of the Notes then Outstanding. No
one or more Holders of Notes shall have any right in any manner whatever, by
virtue or by availing of any provision of the Indenture, to affect, disturb or
prejudice the rights of any other such Holder of Notes, or to obtain or seek to
obtain priority over or preference to any other such Holder or to enforce any
right under the Indenture, except in the manner provided in the Indenture and
for the equal, ratable and common benefit of all Holders of the Notes.

 

16.                                 Trustee
Dealings With the Company

 

Subject to certain limitations imposed by the
TIA, the Trustee in its individual or any other capacity may become the
owner or pledgee of Notes and may otherwise deal with and collect
obligations owed to it by the Company or its Affiliates and may otherwise
deal with the Company or its Affiliates with the same rights it would have if
it were not Trustee.

 

17.                                 No
Recourse Against Others

 

No recourse under or upon any obligation,
covenant or agreement contained in the Indenture or in any Note shall be had
against any incorporator as such or against any past, present or future
shareholder, employee, officer or director of the Company, any Subsidiary
Guarantor or of any successor, either directly or through the Company, any
Subsidiary Guarantor or any successor, under any rule of law, statute or
constitutional provision or by the enforcement of any assessment or by any
legal or equitable proceeding or otherwise, all such liability being expressly
waived and released by the acceptance of the Notes by the Holders thereof and
as part of the consideration for the issue of the Notes.

 

18.                                 Authentication

 

This Note shall not be valid until an
authorized signatory of the Trustee (or an authenticating agent) signs
(manually or by facsimile) the certificate of authentication on the other side
of this Note.

 

19.                                 Abbreviations

 

Customary abbreviations may be used in
the name of a Holder or an assignee, such as TEN COM (=tenants in common), TEN
ENT (=tenants by the entireties), JT TEN (=joint

 

6

 

tenants with rights of
survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A
(=Uniform Gift to Minors Act).

 

20.                                 Governing
Law

 

THIS SECURITY SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

21.                                 CUSIP
and ISIN Numbers

 

The Company has caused CUSIP and ISIN numbers
to be printed on the Notes and has directed the Trustee to use CUSIP and ISIN
numbers in notices of redemption as a convenience to Holders. No representation
is made as to the accuracy of such numbers either as printed on the Notes or as
contained in any notice of redemption and reliance may be placed only on
the other identification numbers placed thereon.

 

THE COMPANY WILL FURNISH TO ANY HOLDER OF
NOTES UPON WRITTEN REQUEST AND WITHOUT CHARGE TO THE HOLDER A COPY OF THE INDENTURE
WHICH HAS IN IT THE TEXT OF THIS SECURITY.

 

7

 

ASSIGNMENT FORM

 

To assign this Note, fill in the form below:

 

I or we assign and transfer this Note to

 

(Print or type assignee’s name, address and
zip code)

 

(Insert assignee’s soc. sec. or tax I.D. No.)

 

and irrevocably appoint
                                             
agent to transfer this Note on the books of the Company. The agent may substitute
another to act for him.

 

	
   

  
	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
  Your
  Signature:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  
						

 

Sign exactly as your name appears on the
other side of this Note. Signature must be guaranteed by a participant in a
recognized signature guaranty medallion program or other signature guarantor
acceptable to the Trustee.

 

8

 

OPTION OF HOLDER TO ELECT PURCHASE

 

IF YOU WANT TO ELECT TO HAVE THIS NOTE
PURCHASED BY THE COMPANY PURSUANT TO SECTION 3.09 (ASSET DISPOSITION) OR
3.11 (CHANGE OF CONTROL) OF THE INDENTURE, CHECK THE BOX:

 

ASSET DISPOSITION |_| CHANGE OF CONTROL |_|

 

IF YOU WANT TO ELECT TO HAVE ONLY PART OF
THIS NOTE PURCHASED BY THE COMPANY PURSUANT TO SECTION 3.09 OR 3.11 OF THE
INDENTURE, STATE THE AMOUNT ($1,000 OR AN INTEGRAL MULTIPLE THEREOF):

 

	
  $

  	
   

  
	
   

  	
   

  
	
  DATE:

  	
   

  	
   

  	
  YOUR
  SIGNATURE:

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  (SIGN
  EXACTLY AS YOUR NAME APPEARS ON THE OTHER SIDE OF THE NOTE)

  
	
   

  	
   

  
	
  SIGNATURE
  GUARANTEE:

  	
   

  	
   

  	
   

  
								

 

SIGNATURE MUST BE GUARANTEED BY A PARTICIPANT
IN A RECOGNIZED SIGNATURE GUARANTY MEDALLION PROGRAM OR OTHER SIGNATURE
GUARANTOR ACCEPTABLE TO THE TRUSTEE.

 

9

 

SCHEDULE OF EXCHANGES OF
NOTES

 

The following exchanges of a part of
this Depository Security for certificated Securities or a part of another
Depository Security have been made:

 

	
  Date of
  Exchange

  	
   

  	
  Amount of decrease

  in principal amount

  of this Depository

  Security

  	
   

  	
  Amount of increase

  in principal amount

  of this Depository

  Security

  	
   

  	
  Principal amount of

  this Depository

  Security following

  such decrease (or

  increase)

  	
   

  	
  Signature of

  authorized officer of

  Trustee

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

10Exhibit 10.12

SEVERANCE PAY AGREEMENT

FOR KEY EMPLOYEE

This agreement is entered
into as of August 1, 2005 between Asbury Automotive Group L.L.C. (“Asbury”)
and Brett Hutchinson (“Executive”), a key employee of Asbury, in order to
provide for an agreed-upon compensation in the event that the Executive’s
employment is terminated as defined in this agreement.

1.   Severance Pay Arrangement

If a Termination (as defined below) of Executive’s
employment occurs at any time during Executive’s employment, Asbury will pay
Executive 12 months of Executive’s base salary as of the date of Termination as
Severance Pay. Payment (subject to required withholding) will be made by Asbury to Executive monthly on the regular
payroll dates of Asbury starting with the date of Termination.

If Executive participates in a bonus compensation plan
at the date of Termination, Severance
Pay will also include a portion of
the target bonus for the year of Termination in an amount equal to the target
bonus multiplied by the percentage of such year that has expired through the
date of Termination.

In addition, Executive
shall be entitled for 12 months following the date of Termination to continue
to participate at the same level of coverage and Executive contribution in any
health and dental insurance plans, as may be amended from time to time, in
which Executive was participating immediately prior to the date of Termination.
Such participation will terminate 30 days after Executive has obtained other
employment under which Executive is covered by equal benefits. The Executive
agrees to notify Asbury promptly upon obtaining such other employment.

2.   Definition
of Termination Triggering Severance Pay

A “Termination” triggering
the Severance Pay set forth above in Section 1 is defined as (1) termination
of Executive’s employment by Asbury for any reason, except death, disability,
retirement, voluntary resignation or “cause”, or (2) termination by
Executive because of mandatory relocation of Executive’s current principal
place of business to a location more than 50 miles away, or (3) Asbury’s
reduction of Executive’s base salary, or (4) any material diminution of
Executive’s duties or job title, except in a termination for “cause”, death,
disability, retirement or voluntary resignation. The definition of “cause” is: (1) Executive’s
gross negligence or gross misconduct in carrying out Executive’s duties resulting
in either case in material harm to Asbury; or (2) Executive being
convicted of a felony; or (3) Executive’s breach of Sections 3, 4 or 5
below.

3.   Confidential
Information Nondisclosure Provision

During and after
employment with Asbury, Executive agrees not to disclose to any person (other
to an employee or director of Asbury or any affiliate and except as may be
required by law) and not to use to compete with Asbury or any affiliate any
confidential or proprietary information, knowledge or data that is not in the
public domain that was obtained by Executive while employed by Asbury with
respect to Asbury or any affiliate or with respect to any products,
improvements, customers, methods of distribution, sales, prices, profits,
costs, contracts, suppliers, business prospects, business methods, techniques,
research, trade secrets or know-how of Asbury or any affiliate (collectively, “Confidential
Information”). In the event that Executive’s employment ends for any reason,
Executive will deliver to Asbury all documents and data of any nature
pertaining to Executive’s work with Asbury and will not take any documents or
data or any reproduction, or any documents containing or pertaining to any
Confidential Information. Executive agrees that in the event of a breach by
Executive of this provision, Asbury shall be entitled to inform all 

potential
or new employers of this provision and obtain injunctive relief and damages
which may include recovery of amounts paid to Executive under this agreement.

4.   Non-Solicitation of Employees

Executive agrees that for
a period of one year from Executive’s last day of employment with Asbury,
Executive shall not directly or indirectly solicit for employment or employ any
person who, at any time during the preceding 12 months, is or was employed by
Asbury or any affiliate or induce or attempt to persuade any employee of Asbury
or any affiliate to terminate their employment relationship. Executive agrees
that in the event of a breach by Executive of this provision, Asbury shall be
entitled to inform all potential or new employers of this provision and obtain
injunctive relief and damages which may include recovery of amounts paid to
Executive under this agreement.

5.   Covenant Not to Compete

While Executive is employed by Asbury, Executive shall
not directly or indirectly engage in, participate in, represent or be connected
with in any way, as an officer, director, partner, owner, employee, agent,
independent contractor, consultant, proprietor or stockholder (except for the
ownership of a less than 5% stock interest in a publicly-traded corporation) or
otherwise, any business or activity which competes with the business of Asbury
or any affiliate unless expressly consented to in writing by the Chief
Executive Officer of Asbury (collectively, “Covenant Not To Compete”).

In the event that
Executive’s employment ends for any reason, the provisions of the Covenant Not
To Compete shall remain in effect for one year following the date of
Termination except that the prohibition above on “any business or activity
which competes with the business of Asbury or any affiliate” shall be limited
to Autonation, Sonic, Lithia, United Auto Group and other competitive groups of
similar size. Executive shall disclose in writing to Asbury the name, address
and type of business conducted by any proposed new employer of Executive if
requested in writing by Asbury. Executive agrees that in the event of a breach
by Executive of this Covenant Not To Compete, Asbury shall be entitled to
inform all potential or new employers of this Covenant and to obtain injunctive
relief and damages which may include recovery of amounts paid to Executive
under this agreement.

GENERAL PROVISIONS

A.   Employment is At Will

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

B.   Execution of Release

As a condition to the
receipt of the Severance Pay payments and benefits described in section 1
above, Executive agrees to execute a release of all claims arising out of the
Executive’s employment or its termination including but not limited to any
claim of discrimination, harassment or wrongful discharge under local, state or
federal law.

C.   Other Provisions

This agreement shall be binding upon the heirs,
executors, administrators, successors and assigns of Executive and Asbury,
including any successor to Asbury.

The headings and captions are provided for reference
and convenience only and shall not be considered part of this agreement.

If any provision of this agreement shall be held
invalid or unenforceable, such holding shall not affect any other provisions,
and this agreement shall be construed and enforced as if such provisions had
not been included.

This agreement supersedes any and all agreements
between Asbury and Executive relating to payments upon termination of
employment or severance pay and may only be modified in writing signed by
Asbury and Executive.

This agreement shall be governed by and construed in
accordance with the laws of the State of New York.

AGREED TO
AS OF THE DATE FIRST WRITTEN ABOVE:

	
  BY EXECUTIVE

  	
  BY ASBURY AUTOMOTIVE GROUP L.L.C.

  
	
  /s/ BRETT  HUTCHINSON

  	
   

  	
  /s/ PHIL JOHNSON

  	
   

  
	
  Print
  Name:

  	
  Print Name and Title:

  
	
  Brett Hutchinson

  	
  Phil Johnson

  
	
   

  	
  VP HR

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