2007
STOCK OPTION PLAN
OF
AMERICA’S CAR-MART, INC.
(Employee
Option Agreement)
THIS
OPTION AGREEMENT (the “Agreement”), made the 16
th day
of October 2007, between AMERICA’S CAR-MART, INC., a
Arkansas corporation (the “Company”), and
______________________, an employee of the Company (the
“Optionee”);
RECITALS :
In
furtherance of the purposes of the 2007 Stock Option Plan of
AMERICA’S CAR-MART, INC., as it may be hereafter amended
(the “Plan”), the Company and the Optionee hereby
agree as follows:
1.
Incorporation of the Plan . The rights and
duties of the Company and the Optionee under this Agreement
shall in all respects be subject to and governed by the
provisions of the Plan, the terms of which are incorporated
herein by reference. Any term not defined in this
Agreement shall have the meaning set forth in the Plan or the
Employment Agreement by and between the Company and the
Optionee dated May 1, 2007 (the “Employment
Agreement”).
2.
Grant and Term of Option . The Company
hereby grants to the Optionee pursuant to the Plan, as a
matter of separate inducement and agreement in connection with
his employment or service to the Company, and not in lieu of
any salary or other compensation for his services, the right
and option (the “Option”) to purchase all or any
part of an aggregate of _____________ (_______) shares (the
“Shares”) of the Common Stock of the Company, at
an Exercise Price of ________________ ($__________) per
Share. The Option shall be designated as a
Non-qualified Option. Except as
otherwise provided in the Plan, the Option will expire if not
exercised in full before 5:00 p.m.
Central Time on the date which marks the tenth (10 th )
anniversary of this date of grant.
3.
Vesting and Exercise. This Option is
subject to performance vesting based on the Company’s
actual Economic Profit per Share compared to the Economic
Profit per Share as projected in Appendix A to the Employment
Agreement (also attached hereto), subject to adjustment by the
Board of Directors for fiscal 2009 and 2010. On the
date that the Company files its Annual Report on Form 10-K for
the fiscal year that ends on April 30, 2010 (the
“Vesting Date”), this Option is eligible to be
vested for an aggregate of _______ shares based on the
Company’s Economic Profit per Share for the fiscal years
2008, 2009 and 2010. On the Vesting Date, the
number of shares vested will be determined by comparing the
Company’s Economic Pr
