0001193125-12-006617 Sample Contracts

CARMAX, INC. SEVERANCE AGREEMENT FOR EXECUTIVE OFFICER Amended and Restated
Severance Agreement • January 9th, 2012 • Carmax Inc • Retail-auto dealers & gasoline stations • Virginia

THIS SEVERANCE AGREEMENT (“Agreement”) entered into as of February 14, 2007 (“Effective Date”) between CarMax, Inc., a Virginia corporation, and its affiliated companies (collectively, the “Company”), and Joseph S. Kunkel (the “Executive”), is amended and restated as of December 1, 2011.

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CARMAX, INC. SEVERANCE AGREEMENT FOR EXECUTIVE OFFICER Amended and Restated
Severance Agreement • January 9th, 2012 • Carmax Inc • Retail-auto dealers & gasoline stations • Virginia

THIS SEVERANCE AGREEMENT (“Agreement”) entered into as of August 27, 2007 (“Effective Date”) between CarMax, Inc., a Virginia corporation, and its affiliated companies (collectively, the “Company”), and Thomas W. Reedy (the “Senior Vice President”), is amended and restated as of December 1, 2011.

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CARMAX, INC. EMPLOYMENT AGREEMENT FOR EXECUTIVE OFFICER Amended and Restated
Employment Agreement • January 9th, 2012 • Carmax Inc • Retail-auto dealers & gasoline stations • Virginia

THIS EMPLOYMENT AGREEMENT (“Agreement”), entered into as of October 17, 2006 (“Effective Date”) between CarMax, Inc., a Virginia corporation, and its affiliated companies (collectively, the “Company”), and Thomas J. Folliard (the “Executive”) is amended and restated as of December 1, 2011.

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