Document:

Form of Nonqualified Stock Option Agreement

 Exhibit 10.15 
 KAR HOLDINGS, INC. 
 FORM NONQUALIFIED STOCK OPTION AGREEMENT 
 NON-QUALIFIED STOCK OPTION AGREEMENT, dated as of
                        ,              between KAR
Holdings, Inc., a Delaware corporation (the “Company”), and                          (the
“Employee”), pursuant to the KAR Holdings, Inc. Stock Incentive Plan, as in effect and as amended from time to time (the “Plan”). Capitalized terms that are not defined herein shall have the meanings given to such
terms in the Plan. 
 WHEREAS, the Company desires to grant options to purchase shares of its common stock, par value $.01 per share (the
“Common Stock”) to certain key employees of the Company; 
 WHEREAS, the Company has adopted the Plan in order to effect
such grants; and 
 WHEREAS, the Employee is a key employee as contemplated by the Plan, and the Committee has determined that it is in the
interest of the Company to grant these options to the Employee. 
 NOW, THEREFORE, in consideration of the premises and subject to the terms
and conditions set forth herein and in the Plan, the parties hereto agree as follows: 
 1. Confirmation of Grant, Option Price.

 (a) Confirmation of Grant. The Company hereby evidences and confirms the grant to the Employee, effective as of the date hereof (the
“Grant Date”), of: 
 (i) options to purchase from the Company
         shares of Common Stock, which shall become exercisable, if at all, as provided in Section 2(a) (the “Service Options”); and 
 (ii) options to purchase from the Company          shares of Common Stock which shall
become exercisable, if at all, as provided in Section 2(b) (the “Exit Options” and, together with the Service Options, the “Options”). 
 (b) Option Price. The Options shall have an exercise price of $             per
share (the “Option Price”), which is not less than the Fair Market Value per share of the Common Stock on the Grant Date. 

 (c) Options Subject to Plan. By signing this Agreement, the Employee acknowledges that he has been
provided a copy of the Plan and has had the opportunity to review such Plan. 
 (d) Character of Options. The Options granted
hereunder are not intended to be “incentive stock options” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended. 
 2. Exercisability. 
 (a) Service Options. The Service Options shall become exercisable in four
equal installments on each of the first four anniversaries of the Grant Date, subject to the Employee’s continuous employment with the Company or a Subsidiary from the Grant Date to such anniversary. Notwithstanding the foregoing, all or a
portion of such Options shall also become exercisable at the time and under the circumstances described in Sections 4(a) and 5. 
 (b)
Exit Options. Subject to the second sentence of this Section 2(b), the Exit Options shall become exercisable, if at all, on the date of an Exit Event (the “Vesting Event”) as follows (and only as follows): (i) if
the Aggregate Investor Members Exit Value (as defined below) at the date of the Vesting Event is less than or equal to the Aggregate Floor Value (as defined below), no Exit Options shall become exercisable as of the Vesting Event, (ii) if the
Aggregate Investor Members Exit Value at the date of the Vesting Event is at least equal to the Aggregate Maximum Value, all of the Exit Options shall become exercisable as of the Vesting Event and (iii) if the Aggregate Investor Members Exit
Value at the date of the Vesting Event exceeds the Aggregate Floor Value but is less than the Aggregate Maximum Value, the Applicable Percentage (as defined below) of the Exit Options shall become exercisable as of the Vesting Event. Notwithstanding
the foregoing or anything to the contrary, in no event shall any Exit Options become exercisable hereunder unless the Investor Members receive an internal rate of return, compounded annually (the “IRR”), on their investment in the
Company and its affiliates (including KAR Holdings II, LLC, a Delaware limited liability company (the “LLC”)) of at least 12% and the Aggregate Investor Members Exit Value at the date of the Vesting Event is at least equal to the
Aggregate Floor Value. The Investor Members’ IRR will be calculated after giving full effect to the dilution of Investor Members’ equity interest in the Company by the Options and any override or incentive units issued by the LLC (i.e.,
after calculating assumed payments to holders of Options based on Section 2(a) above and the first sentence of this Section 2(b) and assumed distributions to holders of override units under the LLC Agreement based on the analogous
methodology set forth in the LLC Agreement). In the event that any portion of the Exit Options do not become exercisable pursuant to this Section 2(b) upon the first occurrence of a Vesting Event, such portion of such Exit Options shall not
become exercisable as a result of any subsequent Vesting Event, and shall automatically be canceled without payment therefor. 
  

 2 

 (c) Definitions. For purposes of this Agreement, the following terms shall have the meanings set
forth below: 
 The “Aggregate Floor Value” means the product of (x) 1.5 and (y) the
Original Cost. 
 The “Aggregate Investor Member Exit Value” means the total fair market value of all
distributions or proceeds (excluding fees and related payments) received and, pursuant to the applicable Exit Event, to be received by the Investor Members in respect of their investment in the Company and its affiliates (including the LLC).
Distributions or proceeds to be received by the Investor Members upon an Exit Event shall be calculated (A) giving simultaneous effect to (i) the applicable level of vesting of Exit Options (determined in accordance with the first sentence
of Section 2(b) above) and (ii) the applicable level and amount of participation in distributions of Value Units (as defined in the LLC Agreement) issued by the LLC under the LLC Agreement and (B) assuming (i) the vesting and
exercise of all other outstanding “in the money” securities convertible or exchangeable into, and all other warrants, options and other rights (“Common Stock Equivalents”) exercisable for, shares of Common Stock
(other than Exit Options), including all outstanding Service Options and shares of Restricted Stock and (ii) the participation in distributions of all other outstanding override or incentive based securities (other than Value Units) in the LLC,
including all outstanding Operating Units (as defined in the LLC Agreement). 
 The “Aggregate Maximum Value”
means the product of (x) 3.5 and (y) the Original Cost. 
 The “Applicable
Percentage” means the percentage determined by dividing (i) the excess, if positive, of the Aggregate Investor Members Exit Value over the Aggregate Floor Value by (ii) the difference between the Aggregate
Maximum Value and the Aggregate Floor Value, provided that, such percentage shall not exceed 100%. 
 The “LLC
Agreement” means the Second Amended and Restated Limited Liability Company Agreement of KAR Holdings II, LLC, dated as of April 20, 2007, as the same may be amended, modified, supplemented or restated from time to time. 

 

 3 

 The “Original Cost” means the aggregate cost of the Investor
Members’ investment in the Company and its affiliates (including the amount of all capital contributions, whether in cash or property, to the LLC). 
 (d) Normal Expiration Date. Unless the Options earlier terminate in accordance with Sections 2, 4 or 5, the Options shall terminate on the tenth anniversary of the Grant Date (the “Normal Expiration
Date”). Once Options have become exercisable pursuant to this Section 2, such Options may be exercised, subject to the provisions hereof, at any time and from time to time until the Normal Expiration Date. 
 (e) Calculations. All calculations required or contemplated by this Section 2 shall be made in the sole determination of the Committee and
shall be final and binding on the Company and the Employee. 
 3. Method of Exercise and Payment. 
 All or part of the exercisable Options may be exercised by the Employee upon (a) the Employee’s written notice to the Company of exercise
and (b) the Employee’s payment of the Option Price in full at the time of exercise (i) in cash or cash equivalents, (ii) with the consent of the Committee, in shares of Common Stock, valued at the Fair Market
Value on the date of exercise, or (if permitted by the Committee and subject to such terms and conditions as it may determine) by surrender of outstanding Awards under the Plan, or (iii) in accordance with such procedures or in such other form
as the Committee shall from time to time determine (including by permitting broker’s cashless exercise procedure). As soon as practicable after receipt of a written exercise notice and payment in full of the exercise price of any exercisable
Options in accordance with this Section 3, but subject to Section 6 below, the Company shall deliver to the Employee (or such other person or entity) a certificate or certificates representing the shares of Common Stock acquired upon the
exercise thereof, registered in the name of the Employee (or such other person or entity), provided that, if the Company, in its sole discretion, shall determine that, under applicable securities laws, any certificates issued under this
Section 3 must bear a legend restricting the transfer of such Common Stock, such certificates shall bear the appropriate legend. 
 4.
Termination of Employment. 
 (a) Special Termination. Subject to Section 4(d), in the event that the Employee’s
employment with the Company or any Subsidiary terminates by reason of the Employee’s death, Disability or Retirement (each a “Special Termination”), then all Options held by the Employee that are exercisable as of the
date of such Special Termination may be exercised by the Employee or the Employee’s beneficiary as designated in accordance with Section 9, or if no such beneficiary is named, by the Employee’s estate, at any time prior to one
(1) year following the Employee’s 

  

 4 

 
termination of employment or the Normal Expiration Date of the Options, whichever period is shorter and shall terminate immediately thereafter. Upon a
Special Termination, any Options that are not then exercisable shall terminate and be canceled immediately upon such termination of employment. 
 (b) Termination for Cause or Voluntary Resignation. Subject to Section 4(d), in the event that the Employee’s employment with the Company or any Subsidiary is terminated for Cause or due to Voluntary Resignation, all
Options held by the Employee, whether or not then exercisable, shall terminate and be canceled immediately upon such termination of employment. 
 (c) Other Termination of Employment. Subject to Section 4(d), in the event that the Employee’s employment with the Company or any Subsidiary terminates for any reason other than (i) a Special Termination,
(ii) for Cause or (iii) due to Voluntary Resignation, then any Options held by the Employee which are exercisable at the date of the Employee’s termination of employment shall be exercisable at any time up until the 90th
day following the Employee’s termination of employment (or, in the event that the Employee dies after terminating his employment, but within the period during which the Options would otherwise be exercisable hereunder, the 180th day after the
date of the Employee’s death) or the Normal Expiration Date of the Options, whichever period is shorter and shall terminate immediately thereafter, but any Options held by the Employee that are not then exercisable shall terminate and be
canceled immediately upon such termination of employment. 
 (d) Committee Discretion. The Committee may at any time extend the
post-termination exercise period of all or any portion of the Options up to and including, but not beyond, the Normal Expiration Date of such Options. 
 5. Exit Event. 
 (a) Accelerated Vesting and Payment. Unless the Committee shall otherwise
determine in the manner set forth in Section 5(b), in the event of an Exit Event, each outstanding Service Option (regardless of whether such Service Options are at such time otherwise exercisable) and each outstanding Exit Option exercisable
pursuant to Section 2(b) shall be canceled in exchange for a payment in cash of an amount equal to the excess, if any, of the Exit Event Price over the Option Price. 
 (b) Alternative Options. Notwithstanding Section 5(a), no cancellation or cash settlement or other payment shall occur with respect to any Option in connection with an Exit Event if the Committee
reasonably determines in good faith, prior to the occurrence of such Exit Event, that such Option shall be honored or assumed, or new rights substituted therefor (such honored, assumed or substituted Option being hereinafter referred to as an
“Alternative Option”) by the new employer, provided that any such Alternative Option must: 
 (i) provide the Employee that held such Option with rights and entitlements substantially equivalent to or better than the rights, terms and conditions applicable under such Option, including, but not limited to, an identical or better
exercise and vesting schedule and identical or better timing and methods of payment; and 
  

 5 

 (ii) have substantially equivalent economic value to such Option (determined at the time
of the Exit Event). 
 (c) Limitation on Benefits. Notwithstanding anything contained in this Option agreement or the Plan to the
contrary if, whether as a result of accelerated vesting, the grant of an Alternative Award or otherwise, the Employee would receive any payment, deemed payment or other benefit as a result of the operation of Section 5(a) or Section 5(b)
that, together with any other payment, deemed payment or other benefit the Employee may receive under any other plan, program, policy or arrangement, would constitute an “excess parachute payment” under Section 280G of the Code, then,
notwithstanding anything in this Section 5 to the contrary, the payments, deemed payments or other benefits such Employee would otherwise receive under Section 5(a) or Section 5(b) shall be reduced to the extent necessary to eliminate
any such excess parachute payment and such Employee shall have no further rights or claims with respect thereto. If the preceding sentence would result in a reduction of the payments, deemed payments or other benefits the Employee would otherwise
receive, the Company will use good faith efforts to seek the approval of the Company’s shareholders in the manner provided for in Section 280G(b)(5) of the Code and the regulations thereunder with respect to such reduced payments or other
benefits (if the Company is eligible to do so), so that such payments would not be treated as “parachute payments” for these purposes (and therefore would cease to be subject to reduction pursuant to this Section 5(c)). 
 6. Tax Withholding. 
 Whenever Common
Stock is to be issued pursuant to the exercise of an Option or any cash payment is to be made hereunder, the Company or any Subsidiary shall have the power to withhold, or require the Employee to remit to the Company or such Subsidiary, an amount
sufficient to satisfy the statutory minimum federal, state, and local withholding tax requirements relating to such transaction, and the Company or such Subsidiary may defer payment of cash or issuance of Common Stock until such requirements are
satisfied. 
  

 6 

 7. Nontransferability of Awards. 
 No Options granted hereby may be sold, transferred, pledged, assigned, encumbered or otherwise alienated or hypothecated, other than by will or by the
laws of descent and distribution or, on such terms and conditions as the Committee shall establish, to a Permitted Transferee. All rights with respect to Options granted to the Employee hereunder shall be exercisable during his lifetime only by such
Employee or, if permitted by the Committee, a Permitted Transferee. Following the Employee’s death, all rights with respect to Options that were exercisable at the time of the Employee’s death and have not terminated shall be exercised by
his designated beneficiary, his estate or, if permitted by the Committee, a Permitted Transferee. 
 8. Buyout and Settlement for
Shares. 
 Upon the purported exercise of any Option, in lieu of accepting payment of the exercise price therefor and delivering the
number of shares of Common Stock for which the Option is being exercised, the Committee may cause the Company either (a) to pay the Employee an amount in cash equal to the amount, if any, by which the aggregate Fair Market Value of the
shares of Common Stock as to which the Option is being exercised exceeds the aggregate Option Price, or (b) to deliver to the Employee a lesser number of shares of Common Stock, having a Fair Market Value on the date of exercise, equal
to the amount, if any, by which the aggregate Fair Market Value of the shares of Common Stock as to which the Option is being exercised exceeds the aggregate Option Price for such shares. Notwithstanding anything else contained herein to the
contrary, if the Committee exercises this authority at any time prior to a Public Offering and the date of the purported Option exercise (the “Exercise Date”) is on or after the first day of the seventh month of any fiscal
year, the Fair Market Value of any share of Common Stock shall be calculated with reference to the most recent report to the Company describing the conclusions of an independent valuation consultant or appraiser of recognized national standing
reasonably satisfactory to the Investor Members as to the value of the Common Stock as of the last day of the last ended fiscal year of the Company or such other more recent date requested by the Company (an “Appraisal Date”)
rendered prior to such Exercise Date, plus (or minus) the product of (i) the increase (decrease) in such Fair Market Value from the Appraisal Date used in such last report to the Appraisal Date used in the next report issued following
such Exercise Date and (ii) a fraction, the denominator of which is the number of days in the period between the Appraisal Dates preceding and following the Exercise Date and the numerator of which is the number of days elapsed from the
earlier Appraisal Date to such Exercise Date. Upon payment of cash or distribution of shares of Common Stock pursuant to this Section 8, the Employee’s rights as to the portion of the Options which is the subject of such payment or
distribution shall be deemed satisfied in full. 
  

 7 

 9. Beneficiary Designation. 
 The Employee may from time to time name any beneficiary or beneficiaries (who may be named contingently or successively) by whom any right under the Plan
and this Agreement is to be exercised in case of his death. Each designation will revoke all prior designations by the Employee, shall be in a form reasonably prescribed by the Committee, and will be effective only when filed by the Employee in
writing with the Committee during his lifetime. If no beneficiary is named, or if a named beneficiary does not survive the Employee, Section 9.2 of the Plan shall determine who may exercise the Employee’s rights under the Plan. 

10. Adjustment in Capitalization. 
 The aggregate number of shares of Common Stock subject to outstanding Option grants and the respective prices and/or vesting criteria applicable to outstanding Options, shall be proportionately adjusted to reflect, as deemed equitable and
appropriate by the Committee, any stock dividend, stock split or share combination of, or extraordinary cash dividend on, the Common Stock, or any recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or exchange
of shares affecting the Common Stock, or any issuance of any warrants or rights offering (other than any such offering under the Plan) to purchase Common Stock at a price materially below Fair Market Value, or any other similar event affecting the
Common Stock. All determinations and calculations required under this Section 10 shall be made in the sole discretion of the Committee. 
 11. Requirements of Law. 
 The issuance of shares of Common Stock pursuant to the Options shall be subject to all applicable
laws, rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. No shares of Common Stock shall be issued upon exercise of any Options granted hereunder, if such exercise would
result in a violation of applicable law, including the U.S. federal securities laws and any applicable state or foreign securities laws. 
 12. No Guarantee of Employment. 
 Nothing in this Agreement shall interfere with or limit in any way the right of the Company
or any Subsidiary to terminate the Employee’s employment at any time, or confer upon the Employee any right to continue in the employ of the Company or any Subsidiary. 
  

 8 

 13. No Rights as Stockholder. 
 Except as otherwise required by law, the Employee shall not have any rights as a stockholder with respect to any shares of Common Stock covered by the
Options granted hereby until such time as the shares of Common Stock issuable upon exercise of such Options have been so issued. Notwithstanding anything else contained herein to the contrary, the exercise of any portion of the Options conveyed
hereby is expressly conditioned upon the Employee becoming a party to the Shareholders Agreement and the Registration Rights Agreement with respect to any shares of Common Stock to be acquired upon such exercise. 
 14. Restrictions on Sale Upon Public Offering. 
 Except as otherwise provided in the Registration Rights Agreement, the Employee agrees that, in the event that the Company files a registration statement under the Act with respect to a public offering of any shares
of its capital stock, the Employee will not effect any sale or distribution of any shares of the Common Stock including, but not limited to, pursuant to Rule 144 under the Securities Act, within seven days prior to and 90 days (unless the Company,
in consultation with the managing underwriter, determines that a longer period, not to exceed 180 days, is required, or such shorter period as the managing underwriter for any underwritten offering may agree) after the effective date of the
registration statement relating to such registration (the “Trigger Date”), except as part of such registration or unless, in the case of a sale or distribution not involving a public offering, the transferee agrees in writing
to be subject to this Section 14; provided that, with respect to any shelf registration statement on Form S-3, the Trigger Date shall be the pricing of any offering made under such registration statement and the Employee agrees to
execute a customary holdback agreement with the underwriters for any such public offering. 
 15. Interpretation; Construction.

 Any determination or interpretation by the Committee under or pursuant to this Agreement shall be final and conclusive on all persons
affected hereby. Except as otherwise expressly provided in the Plan, in the event of a conflict between any term of this Agreement and the terms of the Plan, the terms of the Plan shall control. 
 16. Amendments. 
 (a) In
General. The Committee may, at its sole discretion, at any time and from time to time alter or amend this Agreement and the terms and conditions of any unvested Options (but not any previously granted vested Options) in whole or in part,
including without limitation, amending the criteria for vesting and exercisability set forth in Section 2 hereof, substituting alternative vesting and exercisability criteria and 

  

 9 

 
imposing certain blackout periods on Options; provided, that such alteration, amendment, suspension or termination shall preserve the economic value, as
determined by the Committee in its sole good faith discretion, of any previously granted Option. The Company shall give written notice to the Employee of any such alteration or amendment of this Agreement as promptly as practicable after the
adoption thereof. This Agreement may also be amended by a writing signed by both the Company and the Employee. 
 (b) Public Offering.
Unless otherwise determined by the Committee, in the event of a Public Offering, the Committee shall amend this Agreement and all Exit Options to provide for (i) subject to Section 16(a) above, the substitution of the exercisability
criteria set forth in Section 2(b) with criteria based on stock price and (ii) the imposition of certain blackout periods, in each case, as the Committee shall determine to be appropriate; provided, however that such amendments
shall preserve the economic value of the Options, as determined by the Committee in its sole good faith discretion. 
 17.
Miscellaneous. 
 (a) Notices. All notices, requests, demands, letters, waivers and other communications required or permitted
to be given under this Agreement shall be in writing and shall be deemed to have been duly given if (i) delivered personally, (ii) mailed, certified or registered mail with postage prepaid, (iii) sent by next-day
or overnight mail or delivery, or (iv) sent by fax, as follows: 
  

	 	(i)	If to the Company, to it at: 

 KAR Holdings II, LLC

 c/o Kelso & Company 
 320 Park Avenue, 24th Floor 
 New York, New York 10022 
 Fax: 212-223-2379 
 Attention: James J.
Connors II, Esq. 
 with a copy to: 
 Skadden, Arps, Slate, Meagher & Flom LLP 
 Four Times Square 
 New York, NY 10036 
 Attention: Regina
Olshan 
 Fax: (917) 777-3963 
  

	 	(ii)	If to the Employee, to the Employee’s last known home address, 

 or
to such other person or address as any party shall specify by notice in writing to the Company. All such notices, requests, demands, letters, waivers and other 

  

 10 

 
communications shall be deemed to have been received (w) if by personal delivery on the day after such delivery, (x) if by certified
or registered mail, on the fifth business day after the mailing thereof, (y) if by next-day or overnight mail or delivery, on the day delivered, or (z) if by fax, on the day delivered, provided that such delivery is
confirmed. 
 (b) Binding Effect; Benefits. This Agreement shall be binding upon and inure to the benefit of the parties to this
Agreement and their respective successors and assigns. Nothing in this Agreement, express or implied, is intended or shall be construed to give any person other than the parties to this Agreement or their respective successors or assigns any legal
or equitable right, remedy or claim under or in respect of any agreement or any provision contained herein. 
 (c) Waiver. Either
party hereto may by written notice to the other (i) extend the time for the performance of any of the obligations or other actions of the other under this Agreement, (ii) waive compliance with any of the conditions or
covenants of the other contained in this Agreement and (iii) waive or modify performance of any of the obligations of the other under this Agreement. Except as provided in the preceding sentence, no action taken pursuant to this
Agreement, including, without limitation, any investigation by or on behalf of either party, shall be deemed to constitute a waiver by the party taking such action of compliance with any representations, warranties, covenants or agreements contained
herein. The waiver by either party hereto of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any preceding or succeeding breach and no failure by either party to exercise any right or privilege hereunder
shall be deemed a waiver of such party’s rights or privileges hereunder or shall be deemed a waiver of such party’s rights to exercise the same at any subsequent time or times hereunder. 
 (d) Code Section 409A Compliance. Notwithstanding any provision of this Agreement, to the extent that the Committee determines that any
Option granted under this Agreement is subject to Section 409A of the Code and fails to comply with the requirements of Section 409A of the Code, notwithstanding anything to the contrary contained in the Plan or in this Agreement, the
Committee reserves the right to amend, restructure, terminate or replace the Option in order to cause the Option to either not be subject to Section 409A of the Code or to comply with the applicable provisions of such section. 
 (e) Applicable Law. This Agreement shall be governed by and construed in accordance with the law of the State of Delaware, regardless of the law
that might be applied under principles of conflict of laws. 
 (f) Section and Other Headings. The section and other headings
contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. 
  

 11 

 (g) Counterparts. This Agreement may be executed in any number of counterparts, each of which
shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument. 
 — Signature page
follows — 
  

 12 

 IN WITNESS WHEREOF, the Company and the Employee have duly executed this Agreement as of the date first
above written. 
  

			
	KAR HOLDINGS, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	EMPLOYEE
	
	  

	Name

  

 13Employment Agreement (John Nordin)

 Exhibit 10.16 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (this “Agreement”) is entered into
as of the 13 day of July, 2007 by and between JOHN NORDIN (“Nordin”) and KAR HOLDINGS, INC., a Delaware corporation (“Company”). 
 RECITALS 
 WHEREAS, the Company desires to employ Nordin and Nordin desires to be employed by the Company upon the
terms and conditions set forth below. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed that: 
 1. Employment. The Company hereby employs
Nordin, and Nordin hereby accepts employment with the Company, as Chief Information Officer, whose duties include overseeing the information technology aspects of the Company and its affiliated companies. Nordin shall be an executive of the Company
and shall be subject to the direction and control of the President and Chief Executive Officer of the Company and the Board of Directors of the Company (the “Board”). Nordin shall devote all of his business time and services to the
business and affairs of the Company. Nordin shall also perform such other executive-level duties consistent with his position as Chief Information Officer as may be assigned to him from time to time by the Chief Executive Officer, including serving
as an officer and/or director of the Company’s operating subsidiaries. The duties and services to be performed by Nordin hereunder shall be substantially rendered at the Company’s principal offices as determined by the Board, except for
reasonable travel on the Company’s business incident to the performance of Nordin’s duties. 
 2. Compensation. As compensation for
Nordin’s services provided hereunder, the Company agrees to provide the following compensation: 
 2.1 Base Salary. While this
Agreement is in effect, the Company agrees to pay to Nordin a base salary at the rate of $275,000 per annum commencing on the date of hire (“Base Salary”). The Base Salary shall be subject to annual review by the Board and any committee
thereof (“Committee”) or the Compensation Committee and may be increased by the Board in their sole and absolute discretion but may not be decreased. Such salary shall be payable to Nordin in such equal periodic payments as the Company
generally pays its employees, but in no event less frequently than monthly. 
 2.2 Incentives. As additional compensation for
performance of the services rendered by Nordin during the term of this Agreement, the Company will pay to Nordin, in cash, a performance bonus equal to fifty percent (50%) of Nordin’s annual salary based upon the achievement of objectively
quantifiable and measurable goals and objectives which shall be determined, in advance, by the Compensation Committee of the Board with respect to each fiscal year of the Company. This amount is hereinafter referred to as “Incentive
Compensation.” Incentive Compensation that becomes payable to Nordin under this Section 2.2 shall be paid to Nordin between January 1 and March 15 of the calendar year following the year in which the Incentive Compensation
was earned and no longer subject to a substantial risk of forfeiture, if any. 

 2.3 Options. The Company shall provide Nordin with profit interests in KAR Holdings, LLC as
additional compensation for performance of services. 
 2.4 Benefits. During the term of his employment or for such time as otherwise
provided in this Agreement, Nordin shall be entitled to participate, subject to the terms and conditions of the applicable plan documents and policies, in such vacation, auto allowance, benefit plans, fringe benefits, life insurance, medical and
dental plans, retirement plans and other programs as are offered from time to time by the Company to similarly situated executives of the Company and are described in the Company’s employee benefit handbooks. Nordin shall be entitled to four
weeks of paid vacation each calendar year, subject to the accrual provisions and any limitations on carryover of unused vacation generally applicable to employees. Nordin shall be authorized to incur necessary and reasonable travel, entertainment
and other business expenses in connection with his duties hereunder. In connection with expenses pursuant to this Section 2.4, the Company shall reimburse Nordin for such expenses upon presentation of an itemized account and appropriate
supporting documentation, all in accordance with the Company’s generally applicable policies. 
 2.5 Indemnification. The Company
shall indemnify Nordin in accordance with the terms of the Company’s standard form of Indemnification Agreement. 
 3. Termination. 

3.1 At Will Nature of Employment. Employment with the Company and all affiliated companies is not for a specific term and can be terminated by
Nordin or the Company at any time for any reason, with or without cause. Any contrary representations that may have been made or that may be made to Nordin are superseded by this Agreement. In addition, this Agreement shall terminate by reason of
Nordin’s death or the inability of Nordin, by reason of physical or mental illness or accident, to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result
in death or can be expected to last for a continuous period of not less than 12 months (a “Disability”). Nordin will be deemed to have suffered a Disability effective as of the earliest of the date on which a determination is made that he
is (a) totally and permanently disabled by the Social Security Administration, or (b) totally and permanently disabled by the insurance carrier under any group long-term disability policy maintained by the Company. Notwithstanding any
provision contained herein to the contrary, to the extent that any compensation or benefits (that constitute “deferred compensation” within the meaning of Section 409A of the Code and the regulations and guidance issued
thereunder) become payable or available due to Nordin’s termination of employment under this Section 3, no such compensation or benefits will become payable or available unless such termination of employment otherwise constitutes a
“separation from service” within the meaning of Section 409A of the Code and the regulations and guidance issued thereunder. 
  

 2 

 3.2 Company’s Obligations on Termination Apart from a Change of Control. 
 (a) No Obligations Other Than as Required by Law for Voluntary Termination or Cause. Aside from any legal obligation to pay Nordin
the portion of his Base Salary earned for services performed through the Date of Termination and/or accrued vacation earned through Date of Termination to the extent not theretofore paid, the Company shall have no obligation to pay Nordin any
severance payments or continue to cover Nordin and/or his beneficiaries under the Company’s benefit plan (other than as required by law) if this Agreement is terminated for any of the following reasons: Voluntary Termination. Nordin voluntarily
terminates this Agreement and his employment with the Company and all affiliated companies for any reason that does not constitute an Involuntary Termination; or Cause. The Company terminates Nordin’s employment with the Company and all
affiliated companies at any time during the term of this Agreement for Cause. For purposes of this Agreement, “Cause” shall mean: 
 (A) the willful and continued failure of Nordin to perform substantially his duties with the Company or one of its affiliates (other than any such failure resulting from incapacity due to medically documented illness
or injury), 30 days after a written demand for substantial performance is delivered to Nordin by the Board which specifically identifies the manner in which the Board believes that Nordin has not substantially performed his duties; or 
 (B) the willful engaging by Nordin in illegal conduct or misconduct which is injurious to the Company, 
 in each case as determined in the good faith opinion of the Board. 
 (b) Death and Disability Obligations. If this Agreement is terminated due to death or Disability, the Company shall pay to Nordin
(or his legal representatives as the case may be) the specific obligations as set forth below: 
 (i) Death. Nordin’s
employment shall terminate automatically upon Nordin’s death. If Nordin’s employment under this Agreement is terminated by reason of his death, the Company’s sole obligation to Nordin’s legal representatives shall be to pay or
cause to be paid, within thirty (30) days of the Date of Termination (as hereinafter defined), to such person or persons as Nordin shall have designated for that purpose in a notice filed with the Company, or, if no such person shall have been
so designated, to his estate, the amount of Nordin’s Accrued Obligations (as hereinafter defined). Any amounts payable under this Section 3.2(b)(i) shall be exclusive of and in addition to any payments or benefits which
Nordin’s widow, beneficiaries or estate may be entitled to receive pursuant to any pension plan, profit sharing plan, any employee benefit plan, equity incentive plan or life insurance policy maintained by the Company.Disability. If the
Disability of Nordin occurs, the Company may give to Nordin written notice in accordance with Section 6.1 of this Agreement of its intention to terminate Nordin’s employment. In such 

  

 3 

 
event, Nordin’s employment with the Company shall terminate effective on the 30th day after receipt of such notice by Nordin (the “Disability
Effective Date”), unless within the 30-day period after such receipt, Nordin returns to full-time performance of his duties. The Company’s sole obligation to Nordin shall be payment of Accrued Obligations (as hereinafter defined) and the
timely payment or provision of other benefits, including disability and other benefits provided by the Company to disabled executives and/or their families in accordance with such Company plans, programs, practices and policies relating to
disability, if any. 
 (c) Obligations of Company Following Termination Without Cause or Involuntary Termination. Upon
the termination of this Agreement and Nordin’s employment hereunder apart from a Change of Control, the Company shall, within 30 days following the Date of Termination, and provided that Nordin signs and does not revoke a general release
provided by the Company and in the favor of the Company and each affiliated company within such 30-day period, pay to Nordin an amount equal to the sum of (i) the portion of Nordin’s Base Salary earned for services performed through the
Date of Termination and/or accrued vacation earned through the Date of Termination to the extent not theretofore paid, (ii) a lump sum payment equal to Nordin’s annual Base Salary in effect at the time Nordin’s employment is
terminated; plus (iii) Nordin’s average annual bonus received over the eight (8) fiscal quarters of the Company immediately preceding Company’s fiscal quarter during which Nordin’s employment is terminated, without exceeding
Nordin’s target bonus for Company’s fiscal year during which Nordin’s employment is terminated, provided, however, that Nordin shall receive his target bonus if he is terminated within his first eight (8) fiscal quarters of
employment with the Company; plus (iv) Nordin’s auto allowance for the Company’s fiscal year during which Nordin’s employment is terminated. In addition, the Company shall provide, at Company’s expense, continued group
health plan coverage for Nordin and his “qualified beneficiaries” (within the meaning of Title I, Part 6 of the Employee Retirement Income Security Act of 1974, as amended (“COBRA”)), to the extent required under COBRA, for a
period extending through the earlier of the date Nordin begins any subsequent full-time employment for another employer for pay and the date that is one (1) year after Nordin’s termination of employment, under the Company’s group
health plan covering Nordin and Nordin’s qualified beneficiaries, provided that Nordin properly and timely elects to continue such coverage pursuant to COBRA. In no event will the Company’s payment of the COBRA premiums for up to the first
12 months of COBRA coverage be considered an extension of the maximum continuation of coverage period required under COBRA. 
 3.3
Company’s Obligations on Termination Due to a Change of Control. 
 (a) Severance Benefits for Termination Within
Two (2) Years After a Change of Control. If Nordin’s employment with the Company and all affiliated companies terminates by reason of Nordin’s Involuntary Termination (as defined in Section 3.6(c) below) or termination
by the Company without Cause (as defined in Section 3.2(a)(ii)) above) within two (2) years after the effective date of the Change of Control, Nordin shall be entitled to receive the following, provided that Nordin signs and 

  

 4 

 
does not revoke a general release provided by the Company and in the favor of the Company and each affiliated company within the 30-day period following the
Termination Date: 
 (i) Within 30 days of the Date of Termination, Company shall pay Nordin a Lump Sum Payment in an amount
equal to 150% of the sum of (A) Nordin’s annual Base Salary then in effect and (B) his Highest Annual Bonus; Within 30 days of the Date of Termination, Company shall pay Nordin a Lump Sum Payment in the amount of any Accrued
Obligation; and 
 (iii) Company shall provide, at its expense, continued coverage of Nordin and Nordin’s qualified
beneficiaries (within the meaning of COBRA) for eighteen (18) months after the Date of Termination or until Nordin commences any full-time employment with another employer, whichever comes first, under the Company’s health plan covering
Nordin and Nordin’s beneficiaries, provided, however, that Nordin properly and timely elects coverage pursuant to COBRA. In no event will the Company’s payment of the COBRA premiums for up to the first 18 months of COBRA coverage be
considered an extension of the maximum continuation of coverage period required under COBRA. 
 (b) Severance Benefits for
Termination After the Second Year Following a Change of Control. If Nordin is terminated after the second year following a Change of Control, the Company’s obligations are as set forth in Section 3.2 of this Agreement.

 (c) Stock Options After a Change of Control. Subject to Section 2.3 of this Agreement and the underlying
terms and conditions of such option agreements, all of Nordin’s outstanding stock options to purchase Company common stock shall accelerate and become fully exercisable upon a Change in Control. 
 3.4 Certain Additional Payments by the Company; Excise Tax Gross-up. A lump sum “Gross-Up Payment” (as defined below) shall be made
within 30 days of the Date of Termination to Nordin, provided that Nordin signs and does not revoke a general release provided by the Company in the favor of the Company and each affiliated company within such 30-day period in connection with a
Change of Control, including, without limitation, the vesting of an option or other non-cash benefit or property, whether pursuant to the terms of any applicable plan, arrangement or agreement with the Company or any of its affiliated companies (the
“Total Payments”) would trigger a tax imposed on Nordin under Section 4999 of the Internal Revenue Code of 1986, as amended (the “Excise Tax”). 
 For purposes hereof, the Gross-Up Payment shall mean a payment to Nordin in such amount as is necessary to ensure that the net amount retained by Nordin,
after reduction for any Excise Tax (including any penalties or interest thereon) on the Total Payments and any federal, state and local income or employment tax and Excise Tax on the Gross-Up Payment provided for by this Section 3.4, but
before reduction for any federal, state or local income or employment tax on the Total Payments, shall be equal to the Total Payments. 
  

 5 

 3.5 Exclusive Benefits. If more than one benefit due to termination becomes payable under
Sections 3.2 or 3.3, the greatest of such benefits shall become payable to the exclusion of all other such benefits and shall be in lieu of any other severance or similar benefits that would otherwise be payable under any other
agreement, plan, program or policy of the Company. Notwithstanding anything in the prior sentence to the contrary, Nordin shall be entitled to benefits and incentives under all benefit plans and equity incentive plans, policies and programs (except
as expressly excluded herein, including, without limitation, Section 2.3 of this Agreement) according to the terms of such benefit plans and equity incentive plans, policies and programs as in effect from time to time, including any
acceleration of vesting provisions in the Company’s option plans, including any benefits under the Executive Severance Plan for Officers. 
 3.6 Definitions. 
 (a) For purposes of this Agreement, a “Change of Control” shall mean:

 (i) the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or
14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (for the purposes of this Section 3.3, a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under
the Exchange Act) of 50% or more of the voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that
for purposes of this subsection (a), any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company shall not constitute a Change of Control; or 
 (ii) individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at
least a majority of the Board; provided, however, that any individual (other than an individual whose initial assumption of office occurs as a result of an actual or threatened solicitation of proxies or consents by or on behalf of a Person other
than the Board) who becomes a director subsequent to the date hereof whose election or nomination for election was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board; or 
 (iii) consummation of a reorganization, merger or consolidation or sale
or other disposition of all or substantially all of the assets of the Company (a “Business Combination”) unless, following such Business Combination, (i) all or substantially all of the individuals and entities who were the beneficial
owners of the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the voting power of the then outstanding voting securities entitled to vote generally in
the election of directors, as the case may be, of the corporation resulting from such 

  

 6 

 
Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the
Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Voting Securities and (ii) at least a
majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for
such Business Combination; or 
 (iv) approval by the shareholders of the Company of a complete liquidation or dissolution of
the Company. 
 (b) For purposes of this Agreement, “affiliated companies” shall include any company controlled by,
controlling or under common control with the Company. 
 (c) For purposes of this Agreement, “Involuntary
Termination” shall mean Nordin’s voluntary termination following (i) a material diminution in Nordin’s position with the Company which materially reduces Nordin’s level of responsibility, (ii) a material diminution in
Nordin’s Base Salary, or (iii) a material change in Nordin’s place of employment, which is more than seventy-five (75) miles from Nordin’s place of employment prior to the change, provided and only if such change or
reduction is effected without Nordin’s written concurrence. 
 (d) For purposes of this Agreement, “Date of
Termination” shall mean (i) if Nordin’s employment is terminated by the Company for Cause, or by Nordin, the date of receipt of the notice of termination (as contemplated in Section 6.1) or any later date specified
therein, as the case may be, (ii) if Nordin’s employment is terminated by the Company for other than for Cause or Disability, the date on which the Company notifies Nordin of such termination and (iii) if Nordin’s employment is
terminated by reason of death or Disability, the date of death of Nordin or the Disability Effective Date, as the case may be. 
 (e) For purposes of this Agreement, “Accrued Obligations” shall mean the sum of (i) the portion of Nordin’s Base Salary earned for services performed through the Date of Termination and/or accrued vacation earned through
the Date of Termination to the extent not theretofore paid, plus (ii) the greater of (I) the product of (x) any Incentive Compensation paid to or deferred by Nordin for the fiscal year preceding the fiscal year in which Nordin’s
Date of Termination occurs (annualized in the event that Nordin was not employed by the Company for the whole of such fiscal year) and (y) a fraction, the numerator of which is the number of days in the current fiscal year through the Date of
Termination, and the denominator of which is 365 and (II) the average of the past three (3) years’ annual bonuses, provided, however, that Nordin shall receive his target bonus if he is terminated within his first eight (8) fiscal
quarters with the Company (such greater amount being the “Highest Annual Bonus”) and (C) any compensation previously deferred by Nordin (together with any accrued interest or earnings thereon) and any 

  

 7 

 
accrued vacation pay, in each case to the extent not theretofore paid. Notwithstanding the foregoing, in no event will Nordin be entitled to a duplication of
any Incentive Compensation payments. 
 4. Inventions and Creations. Nordin agrees that all inventions, discoveries, improvements, ideas and other
contributions (collectively “Inventions”) whether or not copyrighted or copyrightable, patented or patentable, or otherwise protectable in law, which are conceived, made, developed or acquired by Nordin, either individually or jointly,
during his employment with the Company or any of its subsidiaries, and which relate in any manner to the business of the Company or any of its subsidiaries, shall belong to the Company and Nordin does hereby assign and transfer to the Company his
entire right, title and interest in the Inventions. Nordin agrees to promptly and fully disclose the Inventions to the Company, in writing if requested by the Company, and to execute and deliver any and all lawful application, assignment and other
documents which the Company requests for protecting the Inventions in the United States or any other country. The Company shall have the full and sole power to prosecute such applications and to take all other action concerning the Inventions, and
Nordin will cooperate fully within a lawful manner, at the expense of the Company, in the preparation and prosecution of all such applications and in any legal actions and proceedings concerning the Inventions. The provisions of this
Section 4 shall survive the termination of this Agreement. 
 5. Non-Competition; Non-Solicitation; Confidential Information. 

5.1 Non-Competition Agreement. Nordin hereby acknowledges and agrees that the Company actively engages in its Business (as defined below)
throughout all of North America and that as a high-level executive of the Company with duties and responsibilities that are co-extensive with the geographic scope of the Company’s Business, Nordin will also be actively performing services for
the Company throughout all of North America, and will be exposed to all of the Company’s trade secrets. Accordingly, Nordin agrees that during the Non-Competition Period (as defined below), Nordin will not, directly or indirectly, whether as a
partner, officer, shareholder, advisor, employee or otherwise, promote, participate, become employed by, or engage in any activity, or other business directly or indirectly, involving (i) the used and/or salvage vehicle redistribution business,
(ii) the used and/or salvage vehicle auction business or (iii) the used vehicle dealer floor plan financing business (collectively, the “Business”) within the territory consisting of Indiana, Illinois, the continental United
State, Canada and Mexico. If Nordin fails to comply with the provisions of this Section 5.1, the Company may, in addition to pursuing all other remedies available to the Company under law or in equity as a result of such breach, cease
payment of all severance benefits under Section 3. For purposes hereof, “Non-Competition Period” shall mean the period commencing on the date hereof and ending eighteen (18) months after the later of the termination of
Nordin’s employment hereunder or Nordin’s submission of his resignation, or removal of Nordin as Chief Financial Officer of the Company and the Company’s payment and provision of Change of Control severance benefits pursuant to
Section 3.3. 
 5.2 Non-Solicitation Agreement. During the term of this Agreement and for a period of eighteen
(18) months thereafter, Nordin shall not, directly or indirectly, individually or on behalf of any Person (as defined below) solicit, aid or induce (a) any then current employee of the Company to leave the Company in order to accept
employment with or render services for 

  

 8 

 
Nordin or such Person or (b) any customer, client, vendor, lender, supplier or sales representative of the Company or similar persons engaged in
business with the Company to discontinue the relationship or reduce the amount of business done with the Company. “Person” means any individual, a partnership, a corporation, an association, a limited liability company, a joint stock
company, a trust, a joint venture, an unincorporated organization, a governmental entity, or any department, agency or political subdivision thereof, or an accrediting body. 
 5.3 Confidential Information. Nordin acknowledges and agrees that he is in possession of and will be exposed to during the course of, and incident
to, his employment by and affiliations with the Company, Confidential Information (as defined herein) relating to the Company and its affiliated companies. For purposes hereof, “Confidential Information” shall mean all proprietary or
confidential information concerning the business, finances, financial statements, properties and operations of the Company and its affiliated companies, including, without limitation, all customer and prospective customer and supplier lists,
know-how, trade secrets, business and marketing plans, techniques, forecasts, projections, budgets, unpublished financial statements, price lists, costs, computer programs, source and object codes, algorithms, data, and other original works of
authorship, along with all information received from third parties and held in confidence by the Company and its affiliated companies (including, without limitation, personnel files and employee records). During the Non-Competition Period and at all
times thereafter, Nordin will hold the Confidential Information in the strictest confidence and will not disclose or make use of (directly or indirectly) the Confidential Information or any portion thereof to or on behalf of himself or any third
party except (a) as required in the performance of his duties as an employee, director or shareholder of the Company, (b) as required by the order of any court or similar tribunal or any other governmental body or agency of appropriate
jurisdiction; provided, that Nordin shall, to the extent practicable, give the Company prior written notice of any such disclosure and shall cooperate with the Company in obtaining a protective order or such similar protection as the Company may
deem appropriate to preserve the confidential nature of such information. The foregoing obligations to maintain the Confidential Information shall not apply to any Confidential Information which is or, without any action by Nordin, becomes generally
available to the public. Upon termination of any employment or consulting relationship between the Company and Nordin, Nordin shall promptly return to the Company all physical embodiments of the Confidential Information (regardless of form or
medium) in the possession of or under the control of Nordin. 
 5.4 Scope of Restriction. The parties have limited the scope of the
covenants set forth in Section 5 to the extent reasonably necessary to protect the Company’s business interests. In the event that any court of competent authority determines that the scope and duration of such covenants is
unreasonable or otherwise unenforceable, such court may modify such covenants to the extent that such court determines to be necessary in order to grant enforcement thereof as so modified. 
 5.5 Remedies. The parties hereto recognize that the Company will suffer irreparable injury in the event of a breach of the terms of
Section 5 by Nordin. In the event of a breach of the terms of Section 5, the Company shall be entitled, in addition to any other remedies and damages available and without proof of monetary or immediate damage, to a temporary
and/or permanent injunction, without the necessity of posting a bond, to restrain the violation of Section 5 by Nordin or any Persons acting for or in concert with him. Such remedy, however, shall be cumulative and nonexclusive and shall
be in addition to any other remedy which the parties may have. 
  

 9 

 5.6 Common Law of Torts or Trade Secrets. The parties agree that nothing in this Agreement shall
be construed to limit or negate the common law of torts or trade secrets where it provides the Company with broader protection than that provided herein. 
 5.7 Survival of Section 5. The provisions of Section 5 shall survive the termination of Nordin’s employment and the termination of this Agreement. 
 6. General Provisions. 
 6.1 Notices. All
notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given when delivered personally to the recipient, sent to the recipient by
reputable express courier service (charges prepaid), sent by facsimile (with a copy sent via another method approved herein), or mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid. Such notices,
demands and other communications shall be sent to the Company and to Nordin at the addresses indicated below: 
 If to the
Company: 
 KAR Holdings, Inc. 
 13085 Hamilton Crossing Blvd., Ste. 500 Carmel, Indiana 46032 
 Phone: 317-815-1100

 Fax: 317-249-4601 
 Attention: General Counsel 
 If to Nordin: 
 John Nordin 
 937 Bartlett Terrace 
 Libertyville, Illinois 60048 
 or to such other address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. 
 6.2 Entire Agreement. Except as otherwise expressly set forth herein, this Agreement embodies the complete agreement and understanding among the
parties and supersedes and preempts any prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way. 
 6.3 Successors and Assigns. All covenants and agreements contained in this Agreement by or on behalf of either party hereto shall bind such party
and its heirs, legal representatives, successors and assigns and inure to the benefit of the other party hereto and their heirs, legal representatives, successors and assigns. 
  

 10 

 6.4 Governing Law. This Agreement shall be construed and enforced in accordance with, and all
questions concerning the construction, validity, interpretation and performance of this Agreement shall be governed by the laws of the State of Indiana without giving effect to the provisions thereof regarding conflict of laws. 
 6.5 Resolution of Disputes; Arbitration. Should a dispute arise concerning this Agreement, its interpretation or termination, or Nordin’s
employment with the Company, either party may request a conference with the other party to this Agreement and the parties shall meet to attempt to resolve the dispute. Failing such resolution within thirty (30) days of party request for a
conference, the Company and Nordin shall endeavor to select an arbitrator who shall hear the dispute. In the event the parties are unable to agree on an arbitrator, Nordin and Company shall request the American Arbitration Association
(“AAA”) to submit a list of nine (9) names of persons who could serve as an arbitrator. The Company and Nordin shall alternately remove names from this list (beginning with the party which wins a flip of a coin) until one person
remains and this person shall serve as the impartial arbitrator. The arbitration shall be conducted in accordance with the National Rules for the Resolution of Employment Disputes as promulgated by the AAA. The decision of the arbitrator shall be
final and binding on both parties. Each party shall bear equally all costs of the arbitrator. 
 The arbitrator shall only have authority to
interpret, apply or determine compliance with the provisions set forth in this Agreement, but shall not have the authority to add to, detract from or otherwise alter the language of this Agreement. 
 6.6 Representations of Nordin. Nordin hereby represents and warrants to the Company that his execution, delivery and performance of this agreement
will not violate or result in any breach of any agreement, contract, understanding or written policy to which Nordin is subject as a result of any prior employment, any investment or otherwise. Nordin is not subject to any agreement, contract or
understanding which in any way restricts or limits his ability to accept employment with the Company or perform the services contemplated herein. 
 6.7 Code Section 409A. The Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Code. Notwithstanding the foregoing, in the event the
Agreement or any compensation or benefit paid to Nordin hereunder is deemed to be subject to Section 409A of the Code, then, to the maximum extent permitted under Section 409A of the Code and the regulations and guidance
issued thereunder, such compensation or benefit shall first comply with any available exemption or exception under Section 409A of the Code (e.g., short-term deferral, severance pay plan exceptions, etc.) before subjecting such
compensation or benefit to the provisions and restrictions under Section 409A of the Code. In addition, to the extent (i) any compensation or benefits to which Nordin becomes entitled under the Agreement, or any agreement or plan
referenced therein, in connection with Nordin’s termination of employment with the Company constitute deferred compensation subject to Section 409A of the Code and (ii) Nordin is considered at the time of such termination of
employment to be a “specified employee” under Section 409A of the Code, then such compensation or benefits (to the extent not otherwise exempt or excepted from the provisions of Section 409A) shall not be paid or
commence until the earliest of (i) the expiration of the six (6)-month period measured from the date of Nordin’s “separation from service” (as such term is at the time defined in Treasury Regulations under
Section 409A of the Code with the Company; (ii)

  

 11 

 
the date Nordin becomes “disabled” (as defined in Treasury Regulations under Section 409A of the Code); or (iii) the date of
Nordin’s death following such separation from service. Upon the expiration of the applicable six (6)-month deferral period, any compensation or benefits which would have otherwise been paid during that period (whether in a single sum or in
installments) in the absence of this paragraph shall be paid to Nordin or Nordin’s beneficiary in one lump sum. Any compensation or benefits under this Agreement which are considered “deferred compensation” within the meaning of
Section 409A of the Code, shall, to the extent not otherwise exempt or excepted from such provisions, be administered and interpreted in a manner that is consistent with such provisions and, to the extent permitted under
Section 409A of the Code and the guidance issued thereunder, in a manner that does not materially change the economic value of this Agreement to either party; provided, however, that nothing in this Agreement shall prohibit the Company
from withholding income and other taxes (including any additional tax or interest under Section 409A(a)(1)(B) of the Code) from any compensation or benefits provided under this Agreement that the Company determines are required to be
withheld from such compensation or benefits. 
 6.8 Descriptive Headings; Interpretation. The descriptive headings of this Agreement
are inserted for convenience only and do not constitute a part of this Agreement. 
 6.9 Counterparts. This Agreement may be executed
simultaneously in two or more counterparts, any one of which need not contain the signatures of more than one party, but all such counterparts taken together shall constitute one and the same Agreement. 
 6.10 Amendments and Waivers. No modification, amendment or waiver of any provisions of this Agreement shall be effective unless approved in
writing by each of the parties hereto. The Company’s failure at any time to enforce any of the provisions of this Agreement shall in no way be construed as a waiver of such provisions and will not affect the right of the Company to enforce each
and every provision hereof in accordance with its terms. 
 6.11 Non-Assignment. This Agreement shall not be assigned by Nordin.

 6.12 Tax Withholdings/Deductions. Any and all amounts payable under this Agreement shall be subject to required withholdings for
income and employment taxes and for other required deductions. 
  

 12 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written
above. 
  

			
	KAR HOLDINGS, INC.
		
	By:	 	 /s/ Brian T. Clingen

	Name:	 	Brian T. Clingen
	Title:	 	Chairman & CEO
		
		 	 /s/ John Nordin

		 	JOHN NORDIN

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}]]