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<SEC-DOCUMENT>0001188112-07-002678.txt : 20070831
<SEC-HEADER>0001188112-07-002678.hdr.sgml : 20070831
<ACCEPTANCE-DATETIME>20070831091450
ACCESSION NUMBER:		0001188112-07-002678
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070827
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
FILED AS OF DATE:		20070831
DATE AS OF CHANGE:		20070831

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAS CARMART INC
		CENTRAL INDEX KEY:			0000799850
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
		IRS NUMBER:				630851141
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14939
		FILM NUMBER:		071093073

	BUSINESS ADDRESS:	
		STREET 1:		802 SOUTHEAST PLAZA AVE.
		STREET 2:		SUITE 200
		CITY:			BENTONVILLE
		STATE:			AR
		ZIP:			72712
		BUSINESS PHONE:		(479) 464-9944

	MAIL ADDRESS:	
		STREET 1:		802 SOUTHEAST PLAZA AVE.
		STREET 2:		SUITE 200
		CITY:			BENTONVILLE
		STATE:			AR
		ZIP:			72712

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CROWN GROUP INC /TX/
		DATE OF NAME CHANGE:	19971022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CROWN CASINO CORP
		DATE OF NAME CHANGE:	19931104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SKYLINK AMERICA INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>t15407_8k.htm
<DESCRIPTION>CURRENT REPORT ON FORM 8-K
<TEXT>
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      STATES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif;"><strong>SECURITIES
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">Washington
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    <div><br></div>
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    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif;"><strong>CURRENT
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    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of
      1934</strong></font></div>
    <div>&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">Date
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      SE Plaza Avenue, Suite 200, Bentonville, Arkansas 72712</strong></font></div>
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      464-9944</strong></font></div>
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      the appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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                CFR
                230.425)</font></div>
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                CFR
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          <tr valign="top">
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            </td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))</font></div>
            </td>
          </tr>

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    <div>&#160;</div>
    <div><br></div>
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      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="1">
      <hr style="MARGIN-TOP: -13px; COLOR: #000000" noshade size="4">
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    <div>&#160;</div>
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          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>Item
                5.02</strong></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>Departure
                of Directors or Principal Officers; Election of Directors; Appointment
                of
                Principal Officers</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">On
      August 27, 2007, America&#8217;s Car-Mart, Inc., a Texas corporation (the &#8220;Company&#8221;)
      entered into new employment agreements with all of its named executive officers,
      other than Tilman J. Falgout, III.&#160;&#160;However, the Company amended the
      change in control provisions contained in Mr. Falgout&#8217;s employment agreement to
      be identical to the new employment agreements and made certain revisions to
      comply with Section 409A of the Internal Revenue Code. The new employment
      agreements and the amendment were approved by the Company&#8217;s compensation
      committee.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Each
      of the new employment agreements contains an agreement not to compete, which
      covers the term of employment and one year thereafter, a covenant against the
      solicitation of employees and customers, which covers the term of employment
      and
      one year thereafter, a provision against the use and disclosure of trade
      secrets, which covers the term of employment and an indefinite period
      thereafter, and a provision against the use and disclosure of confidential
      information, which covers the term of employment and two years
      thereafter.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><em>William
      H.
      Henderson.</em>&#160;&#160;Pursuant to his new employment agreement, Mr.
      Henderson agreed to serve as a senior executive officer of the Company&#8217;s
      operating subsidiary for a term ending on April 30, 2010.&#160;&#160;Mr.
      Henderson is entitled to an annual salary of $300,000, or such higher annual
      salary approved by the Company&#8217;s board of directors.&#160;&#160;Mr. Henderson
      has the right to participate in any operating subsidiary 401(k) profit sharing
      plan, as well as the medical and life insurance programs offered by the
      Company&#8217;s operating subsidiary.&#160;&#160;In addition, Mr. Henderson is
      entitled to earn an annual bonus during the term beginning May 1, 2007 and
      ending April 30, 2010.&#160;&#160;Such bonus will range between $40,000 to
      $60,000 per fiscal year, be based upon the Company&#8217;s &#8220;economic profit per
      share,&#8221; and depend on the Company attaining a minimum of 85% of its projected
      economic profit, in which case a $40,000 bonus would be paid, and will increase
      ratably up to 115% of our projected economic profit, in which case a $60,000
      bonus would be paid.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Pursuant
      to his new employment agreement, Mr. Henderson will receive 40,000 shares of
      the
      Company&#8217;s restricted common stock pursuant to America&#8217;s Car-Mart, Inc.&#8217;s Stock
      Incentive Plan (the &#8220;Incentive Plan&#8221;), which shares will vest in equal
      increments each year during the term of the employment agreement.&#160;&#160;The
      restricted stock award will be made on the date of the 2007 annual meeting
      of
      stockholders, subject to approval by the Company&#8217;s stockholders of the proposed
      amendment to the Incentive Plan.&#160;&#160;In addition, the Company is required
      to make a cash payment to Mr. Henderson in an amount equal to 32% of the fair
      market value of such restricted shares on the respective vesting dates to defray
      taxes.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Mr.
      Henderson will also receive, pursuant to the 2007 Stock Option Plan of America&#8217;s
      Car-Mart, Inc. (the &#8220;2007 Plan&#8221;), non-qualified stock options to purchase
      180,000 shares of the Company&#8217;s common stock, with vesting of such options
      subject to the attainment of the Company&#8217;s projected economic profit per share
      over the three fiscal years ending April 30, 2010.&#160;&#160;If the Company
      attains 115% or 100% of its projected economic profit per share, 180,000 or
      150,000 options will vest, respectively.&#160;&#160;No options will vest unless
      the Company attains at least 85% of the applicable fiscal year&#8217;s projected
      economic profit per share; provided, however, &#8220;give-backs and claw-backs&#8221; will
      apply to the vesting of the options.&#160;&#160;For example, if the Company
      attains 70% of its projected economic profit per share in year one and then
      attains 120% of the projection in year two, Mr. Henderson will receive 94%
      of
      the two year total of options.&#160;&#160;Also, if the Company attains 90% and
      75% of projected economic profit per share in year one and two, respectively,
      then the options vested in year one would be forfeited after year two since
      the
      two-year average is less than 85%.&#160;&#160;The stock option award will be
      made on the date of the 2007 annual meeting of stockholders, subject to approval
      by the Company&#8217;s stockholders of the 2007 Plan.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Pursuant
      to the terms of his employment agreement, if the Company terminates Mr.
      Henderson without cause and not in connection with a change in control, Mr.
      Henderson&#8217;s base salary will continue to be payable through the term of the
      employment agreement, Mr. Henderson will be paid, within 60 days after
      termination, the pro rata portion of any bonus earned through the date of
      termination, and all unvested restricted stock and stock options will
      immediately vest in full without regard to the achievement of any applicable
      performance goals.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;"><em>Eddie
      L. Hight.</em>&#160;&#160;Pursuant to his new employment agreement, Mr. Hight
      agreed to serve as a senior executive officer of the Company&#8217;s operating
      subsidiary for a term ending on April 30, 2010.&#160;&#160;Mr. Hight is entitled
      to an annual salary of $185,000, or such higher annual salary approved by the
      Company&#8217;s board of directors.&#160;&#160;Mr. Hight has the right to participate
      in any operating subsidiary 401(k) profit sharing plan, as well as the medical
      and life insurance programs offered by the Company&#8217;s operating
      subsidiary.&#160;&#160;In addition, Mr. Hight is entitled to earn an annual
      bonus during the term beginning May 1, 2007 and ending April 30,
      2010.&#160;&#160;Such bonus will range between $24,000 to $36,000 per fiscal
      year, be based upon the Company&#8217;s &#8220;economic profit per share,&#8221; and depend on the
      Company attaining a minimum of 85% of its projected economic profit, in which
      case a $24,000 bonus would be paid, and will increase ratably up to 115% of
      the
      Company&#8217;s projected economic profit, in which case a $36,000 bonus would be
      paid.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Pursuant
      to his new employment agreement, Mr. Hight will receive 25,000 shares of the
      Company&#8217;s restricted common stock pursuant to the Incentive Plan, which shares
      will vest in equal increments each year during the term of the employment
      agreement.&#160;&#160;The restricted stock award will be made on the date of the
      2007 annual meeting of stockholders, subject to approval by the Company&#8217;s
      stockholders of the proposed amendment to the Incentive Plan.&#160;&#160;In
      addition, the Company is required to make a cash payment to Mr. Hight in an
      amount equal to 32% of the fair market value of such restricted shares on the
      respective vesting dates to defray taxes.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Mr.
      Hight will also receive, pursuant to the Company&#8217;s 2007 Plan, non-qualified
      stock options to purchase 108,000 shares of the Company&#8217;s common stock, with
      vesting of such options subject to the attainment of the Company&#8217;s projected
      economic profit per share over the three fiscal years ending April 30,
      2010.&#160;&#160;If the Company attains 115% or 100% of its projected economic
      profit per share, 108,000 or 90,000 options will vest,
      respectively.&#160;&#160;No options will vest unless the Company attains at
      least 85% of the applicable fiscal year&#8217;s projected economic profit per share;
      provided, however, &#8220;give-backs and claw-backs&#8221; will apply to the vesting of the
      options as described above with respect to Mr. Henderson&#8217;s
      agreement.&#160;&#160;The stock option award will be made on the date of the
      2007 annual meeting of stockholders, subject to approval by the Company&#8217;s
      stockholders of the 2007 Plan.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Pursuant
      to the terms of his employment agreement, if the Company terminates Mr. Hight
      without cause and not in connection with a change in control, Mr. Hight&#8217;s base
      salary will continue to be payable through the term of the employment agreement,
      Mr. Hight will be paid, within 60 days after termination, the pro rata portion
      of any bonus earned through the date of termination, and all unvested restricted
      stock and stock options will immediately vest in full without regard to the
      achievement of any applicable performance goals.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: silver" noshade size="1">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;"><em>Jeffrey
      A. Williams.</em>&#160;&#160;Pursuant to his new employment agreement, Mr.
      Williams agreed to serve as a senior executive officer of the Company&#8217;s
      operating subsidiary for a term ending on April 30, 2010.&#160;&#160;Mr.
      Williams is entitled to an annual salary of $180,000, or such higher annual
      salary approved by the Company&#8217;s board of directors.&#160;&#160;Mr. Williams has
      the right to participate in any operating subsidiary 401(k) profit sharing
      plan,
      as well as the medical and life insurance programs offered by the Company&#8217;s
      operating subsidiary.&#160;&#160;In addition, Mr. Williams is entitled to earn
      an annual bonus during the term beginning May 1, 2007 and ending April 30,
      2010.&#160;&#160;Such bonus will range between $20,000 to $30,000 per fiscal
      year, be based upon the Company&#8217;s &#8220;economic profit per share,&#8221; and depend on the
      Company attaining a minimum of 85% of its projected economic profit, in which
      case a $20,000 bonus would be paid, and will increase ratably up to 115% of
      our
      projected economic profit, in which case a $30,000 bonus would be
      paid.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Mr.
      Williams will also receive, pursuant to the Company&#8217;s 2007 Plan, non-qualified
      stock options to purchase 72,000 shares of the Company&#8217;s common stock, with
      vesting of such options subject to the attainment of the Company&#8217;s projected
      economic profit per share over the three fiscal years ending April 30,
      2010.&#160;&#160;If the Company attains 115% or 100% of its projected economic
      profit per share, 72,000 or 60,000 options will vest,
      respectively.&#160;&#160;No options will vest unless the Company attains at
      least 85% of the applicable fiscal year&#8217;s projected economic profit per share;
      provided, however, &#8220;give-backs and claw-backs&#8221; will apply to the vesting of the
      options as described above with respect to Mr. Henderson&#8217;s
      agreement.&#160;&#160;The stock option award will be made on the date of the
      2007 annual meeting of stockholders, subject to approval by the Company&#8217;s
      stockholders of the 2007 Plan.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Pursuant
      to the terms of his employment agreement, if the Company terminates Mr. Williams
      without cause and not in connection with a change in control, Mr. Williams&#8217; base
      salary will continue to be payable through the term of the employment agreement,
      Mr. Williams will be paid, within 60 days after termination, the pro rata
      portion of any bonus earned through the date of termination, and all unvested
      restricted stock and stock options will immediately vest in full without regard
      to the achievement of any applicable performance goals.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><em>Change
      in Control Provisions</em>.
      The employment agreements of the Company&#8217;s named executive officers contain
      change in control provisions entitling them, upon the occurrence of certain
      events, to a portion of their base salary and the immediate vesting of stock
      options and restricted stock.&#160;&#160;Under the terms of the employment
      agreements, a change in control generally means the following:</font></div>
    <div><br></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">the
                acquisition by an individual, entity or group (within the meaning
                of
                Section 409A of the Internal Revenue Code (the &#8220;Code&#8221;)) of ownership of
                the Company&#8217;s stock that, together with stock held by such person,
                constitutes more than 50% of the total fair market value of total
                voting
                power of the Company&#8217;s stock;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
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              <div><font style="DISPLAY: inline; FONT-SIZE: 11pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
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            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">the
                acquisition by an individual, entity or group (within the meaning
                of
                Section 409A of the Code) during the twelve-month period ending on
                the
                date of the most recent acquisition by such person of ownership of
                the
                Company&#8217;s stock possessing 35% or more of the total voting power of the
                Company&#8217;s stock;</font></div>
            </td>
          </tr>

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    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: silver" noshade size="1">
        </div>
      </div>
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        </div>
      </div>
    </div>
    <div><br>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 11pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">the
                replacement of a majority of the members of the Company&#8217;s board of
                directors during any twelve-month period by directors whose appointment
                or
                election is not endorsed by a majority of the members of the Company&#8217;s
                board of directors prior to the date of the appointment or election;
                or</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 11pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">the
                acquisition by an individual, entity or group (within the meaning
                of
                Section 409A of the Code) during the twelve-month period ending on
                the
                date of the most recent acquisition by such person of the Company&#8217;s assets
                that have a total gross fair market value equal to or more than 40%
                of the
                total gross fair market value of all of the Company&#8217;s assets immediately
                prior to such acquisition.</font></div>
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    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">In
      the event of a change in control while the named executive officer is still
      employed under his employment agreement, on the date the change in control
      becomes effective, the Company must pay the named executive officer a lump
      sum
      cash payment equal to 2.99 times the &#8220;base amount&#8221; with respect to his
      compensation and all unvested restricted stock and stock options previously
      granted vest in full, without regard to the achievement of any applicable
      performance goals.&#160;&#160;Such payments are referred to as change in control
      payments.&#160;&#160;If, prior to the change in control, the Company terminates
      the named executive officer without cause in connection with the change in
      control, then, for purposes of his change in control payments, such named
      executive officer will be treated as being employed on the date the change
      in
      control becomes effective.&#160;&#160;If it is determined that any payment made
      in connection with a change in control or termination thereafter would be
      subject to excise taxes, the named executive officer will be entitled to receive
      a one-time additional payment in an amount reasonably determined by an
      independent accounting firm to be equal to such excise tax.&#160;&#160;Payments
      are payable even if such named executive officer is not eligible for termination
      benefits under his employment agreement.&#160;&#160;In the event of any
      underpayment of such amount, the amount of such underpayment will be promptly
      paid by the Company.&#160;&#160;In the event of any overpayment, the named
      executive officer will, at the Company&#8217;s direction and expense, take steps as
      are reasonably necessary to correct such overpayment; provided, however, that
      the named executive officer will in no event be obligated to return to the
      Company an amount greater than the net after-tax portion of the overpayment
      and
      the applicable provisions of the employment agreement will be interpreted in
      a
      manner consistent with the intent of making the named executive officer whole,
      on an after-tax basis.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">If
      a named executive officer is a &#8220;specified employee&#8221; within the meaning of
      Section 409A of the Code, any benefits or payments that constitute a &#8220;deferral
      of compensation&#8221; under the Section 409A of the Code, become payable as a result
      of the named executive officer&#8217;s termination for reasons other than death, and
      become due under the employment agreement during the first six months after
      termination of employment will be delayed and all such delayed payments will
      be
      paid to such named executive officers in full in the seventh month after the
      date of termination and all subsequent payments will be paid in accordance
      with
      their original payment schedule.</font></div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        </div>
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>SIGNATURES</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">Pursuant
      to the requirements of the Securities Exchange Act of 1934, as amended, the
      registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="30%"><font size="5" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">America&#8217;s
              Car-Mart, Inc.</font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="30%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="30%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="21%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Date:&#160;&#160;August
                31, 2007</font></div>
            </td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="30%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;"><u>/s/
                Jeffrey A.
                Williams&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                </u></font></div>
            </td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td valign="top" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" colspan="2" valign="top" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Jeffrey
                A. Williams</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" colspan="2" valign="top" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Chief
                Financial Officer and Secretary</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" colspan="2" valign="top" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">(Principal
                Financial and Accounting Officer)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>&#160;</div>
    <div><br>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">6</font></div>
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