EX-10.4
from 10-K
22 pages
1 Introduction the Carmax, Inc., Retirement Restoration Plan ("Plan") Was Adopted Effective January 1, 2009, and Was Previously Amended and Restated on June 30, 2011, and Again on January 1, 2017. the Plan, as Amended and Restated Effective January 1, 2025, Is Intended to Incorporate Design Changes and to Make Certain Clarifications Related to the Administration of the Plan. the Purpose of the Plan Is to Supplement the Benefits Payable Under the Carmax, Inc. Retirement Savings Plan for a Select Group of Management or Highly Compensated Employees of Carmax, Inc. and Its Affiliates to the Extent That Retirement Contributions Are Limited Under the Carmax, Inc. Retirement Savings Plan as a Result of the Application of Sections 415 and 401(a)(17) of the Internal Revenue Code of 1986, as Amended. the Plan Is Also Intended to Provide Supplemental Savings to Eligible Employees Through a Program of Elective Deferral Contributions (That Are Matched, in Part, by Employer Contributions in Accordance With the Terms of the Plan). the Company Has Determined That the Adoption of the Retirement Restoration Plan Will Assist in Attracting and Retaining Those Employees Whose Abilities and Experience Will Contribute to Its Continued Success. the Plan Is Intended to Be a Plan That Is Unfunded and Maintained by the Company for the Purpose of Providing Deferred Compensation for a Select Group of Management or Highly Compensated Employees as Described in the Employee Retirement Income Security Act of 1974, as Amended. the Plan Also Is Intended to Satisfy the Requirements of Code Section 409a. All Questions Concerning the Plan Should Be Interpreted in Light of the Company's Intention to Conform to the Applicable Requirements of Erisa and Code Section 409a
12/34/56
EX-10.2
from 10-K
26 pages
1 Introduction the Provisions of This Carmax, Inc. Benefit Restoration Plan (The "Plan") Were Originally Effective October 1, 2002. the Plan Has Been Amended and Restated From Time to Time Since That Date. Effective January 1, 2009, This Plan Was Amended to Cease Additional Benefit Accruals of All Plan Participants, Effective as of December 31, 2008, and to Limit Participation in the Plan to Those Individuals Who Were Plan Participants as of December 31, 2008. This Amendment and Restatement Is Effective January 1, 2025. Since January 1, 2005, the Plan Has Been Operated in Good Faith Compliance With the Requirements of Section 409a of the Code. Effective January 1, 2005, the Plan Was Amended to Conform the Written Terms of the Plan to the Requirements of Section 409a of the Code. These Amendments Applied Solely to Amounts Accrued on and After January 1, 2005, Plus Any Amounts Accrued Prior to January 1, 2005, That Are Not Earned and Vested as of December 31, 2004. Appendix a Attached Hereto, Describes the Rules That Apply Under Prior Law to Amounts Accrued Prior to January 1, 2005, That Are Earned and Vested as of December 31, 2004, and Which Shall Remain Subject to the Terms of the Plan as in Effect on December 31, 2004
12/34/56
