<SEC-DOCUMENT>0001171843-15-003562.txt : 20150623
<SEC-HEADER>0001171843-15-003562.hdr.sgml : 20150623
<ACCEPTANCE-DATETIME>20150623132953
ACCESSION NUMBER:		0001171843-15-003562
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20091113
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150623
DATE AS OF CHANGE:		20150623

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/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14939
		FILM NUMBER:		15946689

	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/A
<SEQUENCE>1
<FILENAME>gff8ka_062215.htm
<DESCRIPTION>FORM 8-K/A
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No. 6)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):<B>
November 13, 2009</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMERICA&rsquo;S CAR-MART, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr>
    <td style="width: 40%; text-align: center"><b>Texas</b></td>
    <td style="width: 27%; text-align: center"><b>0-14939</b></td>
    <td style="width: 33%; text-align: center"><b>63-0851141</b></td></tr>
<tr>
    <td style="text-align: center"><font style="font-size: 10pt">(State or other jurisdiction of incorporation)</font></td>
    <td style="text-align: center"><font style="font-size: 10pt">(Commission File Number)</font></td>
    <td style="text-align: center"><font style="font-size: 10pt">(I.R.S. Employer Identification No.)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>802 SE Plaza Avenue, Suite 200, Bentonville,
Arkansas 72712</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">(Address of principal
executive offices, including zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(479) 464-9944</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check 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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[ ] Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Explanatory Note</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Amendment No. 6 to Form 8-K (this
&ldquo;Amendment No. 5&rdquo;), which amends the Current Report on Form 8-K of America&rsquo;s Car-Mart, Inc. (the &ldquo;Company&rdquo;)
originally filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) on November 17, 2009 and previously
amended on Forms 8-K/A filed with the Commission on August 27, 2010, August 26, 2011, July 27, 2012, July 2, 2013, and June 11,
2014, respectively, is being filed to disclose certain information in the exhibits to the Form 8-K that was previously redacted
pursuant to requests for confidential treatment filed with the Commission and Orders Granting Confidential Treatment issued by
the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The employment agreement between the Company
and Eddie L. Hight, as amended by the amendment attached as Exhibit 10.2 to this Amendment No. 6, was terminated upon Mr. Hight&rsquo;s
retirement from the position of Chief Operating Officer effective November 30, 2013, and as of such date, is no longer in effect.
The amendments to the employment agreements attached as exhibits to this Amendment No. 6 are being filed solely for the purpose
of disclosing certain information previously redacted as described above. No other changes have been made to the information reported
in the Form 8-K, as previously amended by Amendment No. 5 to Form 8-K filed with the Commission on June 11, 2014 (&ldquo;Amendment
No. 5&rdquo;). This Amendment No. 6 does not otherwise modify or update in any way the disclosures made in Amendment No. 5. Accordingly,
the text of the original Form 8-K, as previously amended, is omitted from this Amendment No. 6.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"><B>Item
9.01. Financial Statements and Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d)&#9;Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U></U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">                                                                                                                                                                                                                                                                                                                                                                                                                              <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD><B><U>Exhibit No.</U></B></TD><TD STYLE="text-align: justify"><B><U>Description of Exhibit</U></B></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in">10.1</TD><TD STYLE="text-align: justify">Amendment No. 1 to Employment Agreement Between America&rsquo;s Car-Mart, Inc. and William H. Henderson.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in">10.2</TD><TD STYLE="text-align: justify">Amendment No. 1 to Employment Agreement Between America&rsquo;s Car-Mart, Inc. and Eddie L. Hight.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in">10.3</TD><TD STYLE="text-align: justify">Amendment No. 1 to Employment Agreement Between America&rsquo;s Car-Mart, Inc. and Jeffrey A. Williams.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><B>AMERICA&rsquo;S CAR-MART, INC.</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <td style="width: 36%"><font style="font-size: 10pt">Date: June 23, 2015</font></td>
    <td style="width: 14%">&nbsp;</td>
    <td style="width: 44%; text-decoration: underline"><font style="font-size: 10pt"><u>/s/ Jeffrey A. Williams</u></font></td>
    <td style="width: 6%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2"><font style="font-size: 10pt">Jeffrey A. Williams</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2"><font style="font-size: 10pt">Chief Financial Officer and Secretary</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2"><font style="font-size: 10pt">(Principal Financial and Accounting Officer)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">                                                                                                                                                                                                                                                                                                                                                                                                                              <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD><B><U>Exhibit No.</U></B></TD><TD STYLE="text-align: justify"><B><U>Description of Exhibit</U></B></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1.5in">10.1</TD><TD STYLE="text-align: justify">Amendment No. 1 to Employment Agreement Between America&rsquo;s Car-Mart, Inc. and William H. Henderson.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1.5in">10.2</TD><TD STYLE="text-align: justify">Amendment No. 1 to Employment Agreement Between America&rsquo;s Car-Mart, Inc. and Eddie L. Hight.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1.5in">10.3</TD><TD STYLE="text-align: justify">Amendment No. 1 to Employment Agreement Between America&rsquo;s Car-Mart, Inc. and Jeffrey A. Williams.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exh_101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDMENT NO. 1</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO </B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EMPLOYMENT AGREEMENT </B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BETWEEN AMERICA&rsquo;S CAR-MART, INC.
AND WILLIAM H. HENDERSON</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Amendment No.
1 to the Employment Agreement (the &ldquo;<B>Amendment</B>&rdquo;) between America&rsquo;s Car-Mart, Inc., an Arkansas corporation
(the &ldquo;<B>Company</B>&rdquo;) and William H. Henderson (the &ldquo;<B>Associate</B>&rdquo;) is entered into and effective
as of November 13, 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>RECITALS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Company and the Associate have agreed to certain amendments to the Employment Agreement dated on or as of May 1, 2007 between the
Company and the Associate (the &ldquo;<B>Employment Agreement</B>&rdquo;) as set forth below;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, all
capitalized terms not defined herein shall have the same meaning given to such terms in the Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>,
in consideration of the mutual covenants and promises contained herein, the parties hereto, each intending to be legally bound
hereby, agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&#9;<B><U>Amendment
of Section 3</U></B>. Section 3 of the Employment Agreement is hereby deleted in its entirety and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify"><U>Term.</U> Unless otherwise terminated
in accordance with Sections 8, 9, 10 or 11, the Employment Term shall be for a term ending April 30, 2015. This Agreement shall
be automatically renewed for successive additional Employment Terms of one (1) year each unless notice of termination is given
in writing by either party to the other party at least thirty (30) days prior to the expiration of the initial Employment Term
or any renewal Employment Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&#9;<B><U>Amendment
of Section 4(a)</U></B>. Section 4(a) of the Employment Agreement is hereby deleted in its entirety and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">(a)&#9;Base Salary and Benefits. The
base annual salary of the Associate for his employment services hereunder shall be $300,000 or such higher annual salary, if any,
as shall be approved by the Board of Directors of the Parent Company from time to time (the &ldquo;Base Salary&rdquo;), which shall
be payable in accordance with the Company&rsquo;s payroll policy. Effective as of May 1, 2010, the Base Salary for the Associate
shall be $350,000 or such higher annual salary, if any, as shall be approved by the Board of Directors of the Parent Company from
time to time. Nothing contained herein shall affect or in any way limit the Associate&rsquo;s rights as an Associate of the Company
to participate in any Company 401(k) profit sharing plan or medical and life insurance programs offered by the Company to its employees,
or affect or in any way limit any other benefits provided to the Associate as of the date hereof or as may be approved by the Board
of Directors of the Parent Company from time to time, all of which shall be available to the Associate to the same extent as if
this Agreement had not existed, and compensation received by the Associate hereunder shall be in addition to the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&#9;<B><U>Amendment
to Section 4(b)</U></B>. Section 4(b) of the Employment Agreement is hereby deleted in its entirety and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in">(b)&#9;Bonus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(i)&#9;In addition to the Base Salary
and fringe benefits described above, the Associate shall be eligible to earn an annual cash bonus (the &ldquo;Bonus&rdquo;) during
the term beginning May 1, 2007 and ending April 30, 2010. The Bonus range shall be $40,000 to $60,000 per fiscal year, and shall
be based upon Parent Company&rsquo;s Economic Profit Per Share as defined and described below. The Bonus will depend on the Parent
Company attaining a minimum of 85% of its projected economic profit per share (in which case a $40,000 bonus would be paid) and
will increase ratably up to 115% of its projected economic profit per share (in which case a $60,000 bonus would be paid), as set
forth in <B>Appendix A</B> to this Agreement; provided however, Associate expressly acknowledges and agrees that the projected
Parent Company Economic Profit Per Share for fiscal 2009 and fiscal 2010 shall be subject to adjustment by the Compensation Committee
of the Board of Directors of the Parent Company, in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(ii)&#9;In addition to the Base Salary
and fringe benefits described above and the Bonus described above, the Associate shall be eligible to earn an additional cash bonus
of $60,000 for the period beginning May 1, 2009 and ending April 30, 2010 if for such period Parent Company&rsquo;s GAAP Earnings
Per Share (as defined below) is $2.20 or more; provided, however, that for purposes of this Section 4(b)(ii), the Parent Company&rsquo;s
GAAP Earnings Per Share shall exclude any and all compensation expense or charges associated with the amendments dated as of November
13, 2009 to the Employment Agreements dated as of May 1, 2007, between the Company and its &ldquo;named executive officers&rdquo;
(as listed in the Parent Company&rsquo;s annual definitive proxy statement filed with the Securities and Exchange Commission).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(iii)&#9;In addition to the Base Salary
and fringe benefits described above, the Associate shall be eligible to earn a Bonus for each of the fiscal years during the term
beginning May 1, 2010 and ending April 30, 2015. The Bonus shall be based upon Parent Company&rsquo;s projected fully diluted earnings
per share calculated in accordance with GAAP for each fiscal year (&ldquo;GAAP Earnings Per Share&rdquo;). The Bonus will depend
on the Parent Company attaining a minimum of 95% of its projected GAAP Earnings Per Share, as set forth in <B>Appendix C</B> to
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(iv)&#9;&ldquo;Parent Company&rsquo;s
Economic Profit Per Share&rdquo; shall be defined as net operating profit after tax, less a capital charge (after tax) applied
to the &ldquo;Economic Capital&rdquo; required to generate said profits, divided by fully diluted shares outstanding. &ldquo;Economic
Capital&rdquo; is defined as net assets plus debt plus cumulative after tax interest expense at the end of the fiscal year. The
Parent Company Economic Profit Per Share shall exclude any and all compensation associated with the Employment Agreements dated
as of May 1, 2007, between the Company and its &ldquo;named executive officers&rdquo; (as listed in the Parent Company&rsquo;s
annual definitive proxy statement filed with the Securities and Exchange Commission).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(v)&#9;The Bonus, if any, shall be paid
each fiscal year, within fifteen (15) days following the Parent Company&rsquo;s filing of its annual report on Form 10-K for such
fiscal year, based upon the Parent Company&rsquo;s Economic Profit Per Share or GAAP Earnings Per Share for that fiscal year. Any
Bonus shall be deemed to be earned by the Associate if the Associate was an employee of the Company as of the last day of the fiscal
year in question.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&#9;<B><U>Addition
of Section 4(e)</U></B>. A new Section 4(e) is hereby inserted into the Employment Agreement after Section 4(d) but before Section
5:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&#9;Additional Equity
Awards. On November 27, 2009, the Parent Company will grant to the Associate the following equity awards: (i) a non-qualified stock
option to purchase 240,000 shares of Parent Company common stock pursuant to the Parent Company&rsquo;s 2007 Stock Option Plan,
which options shall vest in equal installments (48,000 options) on each of April 30, 2011, April 30, 2012, April 30, 2013, April
30, 2014 and April 30, 2015; and (ii) 10,000 shares of restricted stock pursuant to the Parent Company&rsquo;s Stock Incentive
Plan, which shares of restricted stock shall vest on April 30, 2015 if the Parent Company attains at least 70% of its cumulative
projected GAAP Earnings Per Share for the period commencing on May 1, 2010 and ending on April 30, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&#9;<B><U>Addition
of Appendix C</U></B>. A new Appendix C, as attached to this Amendment, is hereby appended to the Employment Agreement after Appendix
B.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&#9;<B><U>Reaffirmation</U></B>.
Except to the extent the provisions of the Employment Agreement are specifically amended, modified or superseded by this Amendment,
the Employment Agreement is in full force and effect and is hereby ratified and confirmed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.<B>&#9;<U>Amendment</U></B>.
This Amendment and the Employment Agreement may only be amended by a writing signed by each party hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8<B>.&#9;<U>Counterparts</U></B>.
This Amendment may be executed in counterpart signature pages, each of which shall constitute an original but all taken together
to constitute one instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[SIGNATURE PAGE FOLLOWS.]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties have executed this Amendment on and effective as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><B>COMPANY:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><B>AMERICA&rsquo;S CAR-MART, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">By: <U>/s/ Jeffrey A. Williams&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">Name: Jeffrey A. Williams&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">Title: Vice President Finance,
Secretary and Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><B>ASSOCIATE:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><U>/s/ William H. Henderson</U>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">William H. Henderson</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U><BR>
</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>APPENDIX C</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Applicable to the Bonus pursuant to
Section 4(b)(iii)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Employment Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fiscal 2011-2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: black 1.1pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-top: black 1.1pt solid; border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Fiscal Year</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; border-left: black 1.1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2011</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2012</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2013</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2014</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2015</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; border-left: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><B>Projected GAAP Earnings Per Share</B></FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2010 Actual GAAP Earnings Per Share multiplied by 1.15</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2011 Projected GAAP Earnings Per Share multiplied by 1.15</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2012 Projected GAAP Earnings Per Share multiplied by 1.15</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2013 Projected GAAP Earnings Per Share multiplied by 1.15</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2014 Projected GAAP Earnings Per Share multiplied by 1.15</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; border-left: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><B>Bonus Potential:</B></FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$125,000</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$137,500</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$151,250</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$166,375</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$183,013</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">If Parent Company&rsquo;s actual GAAP Earnings
Per Share equals 95-99% of Parent Company&rsquo;s projected GAAP Earnings Per Share (rounded to the nearest whole percentage point),
the Bonus for such fiscal year shall be the Bonus Potential for such fiscal year multiplied by 0.67.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">If Parent Company&rsquo;s actual GAAP Earnings
Per Share equals 100-104% of Parent Company&rsquo;s projected GAAP Earnings Per Share (rounded to the nearest whole percentage
point), the Bonus for such fiscal year shall be the Bonus Potential for such fiscal year multiplied by 1.00.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">If Parent Company&rsquo;s actual GAAP Earnings
Per Share equals 105% or more of Parent Company&rsquo;s projected GAAP Earnings Per Share (rounded to the nearest whole percentage
point), the Bonus for such fiscal year shall be the Bonus Potential for such fiscal year multiplied by 1.33.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">C-1</P>

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<DESCRIPTION>EXHIBIT 10.2
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDMENT NO. 1</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO </B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EMPLOYMENT AGREEMENT </B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BETWEEN AMERICA&rsquo;S CAR-MART, INC.
AND EDDIE L. HIGHT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Amendment No.
1 to the Employment Agreement (the &ldquo;<B>Amendment</B>&rdquo;) between America&rsquo;s Car-Mart, Inc., an Arkansas corporation
(the &ldquo;<B>Company</B>&rdquo;) and Eddie L. Hight (the &ldquo;<B>Associate</B>&rdquo;) is entered into and effective as of
November 13, 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>RECITALS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Company and the Associate have agreed to certain amendments to the Employment Agreement dated on or as of May 1, 2007 between the
Company and the Associate (the &ldquo;<B>Employment Agreement</B>&rdquo;) as set forth below;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, all
capitalized terms not defined herein shall have the same meaning given to such terms in the Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>,
in consideration of the mutual covenants and promises contained herein, the parties hereto, each intending to be legally bound
hereby, agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&#9;<B><U>Amendment
of Section 3</U></B>. Section 3 of the Employment Agreement is hereby deleted in its entirety and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify"><U>Term.</U> Unless otherwise terminated
in accordance with Sections 8, 9, 10 or 11, the Employment Term shall be for a term ending April 30, 2015. This Agreement shall
be automatically renewed for successive additional Employment Terms of one (1) year each unless notice of termination is given
in writing by either party to the other party at least thirty (30) days prior to the expiration of the initial Employment Term
or any renewal Employment Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&#9;<B><U>Amendment
of Section 4(a)</U></B>. Section 4(a) of the Employment Agreement is hereby deleted in its entirety and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">(a)&#9;Base Salary and Benefits. The
base annual salary of the Associate for his employment services hereunder shall be $185,000 or such higher annual salary, if any,
as shall be approved by the Board of Directors of the Parent Company from time to time (the &ldquo;Base Salary&rdquo;), which shall
be payable in accordance with the Company&rsquo;s payroll policy. Effective as of May 1, 2010, the Base Salary for the Associate
shall be $250,000 or such higher annual salary, if any, as shall be approved by the Board of Directors of the Parent Company from
time to time. Nothing contained herein shall affect or in any way limit the Associate&rsquo;s rights as an Associate of the Company
to participate in any Company 401(k) profit sharing plan or medical and life insurance programs offered by the Company to its employees,
or affect or in any way limit any other benefits provided to the Associate as of the date hereof or as may be approved by the Board
of Directors of the Parent Company from time to time, all of which shall be available to the Associate to the same extent as if
this Agreement had not existed, and compensation received by the Associate hereunder shall be in addition to the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&#9;<B><U>Amendment
to Section 4(b)</U></B>. Section 4(b) of the Employment Agreement is hereby deleted in its entirety and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in">(b)&#9;Bonus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(i)&#9;In addition to the Base Salary
and fringe benefits described above, the Associate shall be eligible to earn an annual cash bonus (the &ldquo;Bonus&rdquo;) during
the term beginning May 1, 2007 and ending April 30, 2010. The Bonus range shall be $24,000 to $36,000 per fiscal year, and shall
be based upon Parent Company&rsquo;s Economic Profit Per Share as defined and described below. The Bonus will depend on the Parent
Company attaining a minimum of 85% of its projected economic profit per share (in which case a $24,000 bonus would be paid) and
will increase ratably up to 115% of its projected economic profit per share (in which case a $36,000 bonus would be paid), as set
forth in <B>Appendix A</B> to this Agreement; provided however, Associate expressly acknowledges and agrees that the projected
Parent Company Economic Profit Per Share for fiscal 2009 and fiscal 2010 shall be subject to adjustment by the Compensation Committee
of the Board of Directors of the Parent Company, in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(ii)&#9;In addition to the Base Salary
and fringe benefits described above and the Bonus described above, the Associate shall be eligible to earn an additional cash bonus
of $36,000 for the period beginning May 1, 2009 and ending April 30, 2010 if for such period Parent Company&rsquo;s GAAP Earnings
Per Share (as defined below) is $2.20 or more; provided, however, that for purposes of this Section 4(b)(ii), the Parent Company&rsquo;s
GAAP Earnings Per Share shall exclude any and all compensation expense or charges associated with the amendments dated as of November
13, 2009 to the Employment Agreements dated as of May 1, 2007, between the Company and its &ldquo;named executive officers&rdquo;
(as listed in the Parent Company&rsquo;s annual definitive proxy statement filed with the Securities and Exchange Commission).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(iii)&#9;In addition to the Base Salary
and fringe benefits described above, the Associate shall be eligible to earn a Bonus for each of the fiscal years during the term
beginning May 1, 2010 and ending April 30, 2015. The Bonus shall be based upon Parent Company&rsquo;s projected fully diluted earnings
per share calculated in accordance with GAAP for each fiscal year (&ldquo;GAAP Earnings Per Share&rdquo;). The Bonus will depend
on the Parent Company attaining a minimum of 95% of its projected GAAP Earnings Per Share, as set forth in <B>Appendix C</B> to
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(iv)&#9;&ldquo;Parent Company&rsquo;s
Economic Profit Per Share&rdquo; shall be defined as net operating profit after tax, less a capital charge (after tax) applied
to the &ldquo;Economic Capital&rdquo; required to generate said profits, divided by fully diluted shares outstanding. &ldquo;Economic
Capital&rdquo; is defined as net assets plus debt plus cumulative after tax interest expense at the end of the fiscal year. The
Parent Company Economic Profit Per Share shall exclude any and all compensation associated with the Employment Agreements dated
as of May 1, 2007, between the Company and its &ldquo;named executive officers&rdquo; (as listed in the Parent Company&rsquo;s
annual definitive proxy statement filed with the Securities and Exchange Commission).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(v)&#9;The Bonus, if any, shall be paid
each fiscal year, within fifteen (15) days following the Parent Company&rsquo;s filing of its annual report on Form 10-K for such
fiscal year, based upon the Parent Company&rsquo;s Economic Profit Per Share or GAAP Earnings Per Share for that fiscal year. Any
Bonus shall be deemed to be earned by the Associate if the Associate was an employee of the Company as of the last day of the fiscal
year in question.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&#9;<B><U>Addition
of Section 4(e)</U></B>. A new Section 4(e) is hereby inserted into the Employment Agreement after Section 4(d) but before Section
5:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&#9;Additional Equity
Awards. On November 27, 2009, the Parent Company will grant to the Associate the following equity awards: (i) a non-qualified stock
option to purchase 120,000 shares of Parent Company common stock pursuant to the Parent Company&rsquo;s 2007 Stock Option Plan,
which options shall vest in equal installments (24,000 options) on each of April 30, 2011, April 30, 2012, April 30, 2013, April
30, 2014 and April 30, 2015; and (ii) 5,000 shares of restricted stock pursuant to the Parent Company&rsquo;s Stock Incentive Plan,
which shares of restricted stock shall vest on April 30, 2015 if the Parent Company attains at least 70% of its cumulative projected
GAAP Earnings Per Share for the period commencing on May 1, 2010 and ending on April 30, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&#9;<B><U>Addition
of Appendix C</U></B>. A new Appendix C, as attached to this Amendment, is hereby appended to the Employment Agreement after Appendix
B.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&#9;<B><U>Reaffirmation</U></B>.
Except to the extent the provisions of the Employment Agreement are specifically amended, modified or superseded by this Amendment,
the Employment Agreement is in full force and effect and is hereby ratified and confirmed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.<B>&#9;<U>Amendment</U></B>.
This Amendment and the Employment Agreement may only be amended by a writing signed by each party hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8<B>.&#9;<U>Counterparts</U></B>.
This Amendment may be executed in counterpart signature pages, each of which shall constitute an original but all taken together
to constitute one instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[SIGNATURE PAGE FOLLOWS.]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties have executed this Amendment on and effective as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><B>COMPANY:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><B>AMERICA&rsquo;S CAR-MART, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">By: <U>/s/ Jeffrey A. Williams</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">Name: <U>Jeffrey A. Williams</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">Title: Vice President Finance,
Secretary and Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><B>ASSOCIATE:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><U>/s/ Eddie L. Hight</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">Eddie L. Hight</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U><BR></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>APPENDIX C</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Applicable to the Bonus pursuant to
Section 4(b)(iii)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Employment Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fiscal 2011-2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: black 1.1pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-top: black 1.1pt solid; border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Fiscal Year</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%; border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; border-left: black 1.1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2011</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2012</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2013</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2014</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2015</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; border-left: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><B>Projected GAAP Earnings Per Share</B></FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2010 Actual GAAP Earnings Per Share multiplied by 1.15</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2011 Projected GAAP Earnings Per Share multiplied by 1.15</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2012 Projected GAAP Earnings Per Share multiplied by 1.15</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2013 Projected GAAP Earnings Per Share multiplied by 1.15</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2014 Projected GAAP Earnings Per Share multiplied by 1.15</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; border-left: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><B>Bonus Potential:</B></FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$70,000</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$77,000</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$84,700</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$93,170</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$102,487</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">If Parent Company&rsquo;s actual GAAP Earnings
Per Share equals 95-99% of Parent Company&rsquo;s projected GAAP Earnings Per Share (rounded to the nearest whole percentage point),
the Bonus for such fiscal year shall be the Bonus Potential for such fiscal year multiplied by 0.67.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">If Parent Company&rsquo;s actual GAAP Earnings
Per Share equals 100-104% of Parent Company&rsquo;s projected GAAP Earnings Per Share (rounded to the nearest whole percentage
point), the Bonus for such fiscal year shall be the Bonus Potential for such fiscal year multiplied by 1.00.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">If Parent Company&rsquo;s actual GAAP Earnings
Per Share equals 105% or more of Parent Company&rsquo;s projected GAAP Earnings Per Share (rounded to the nearest whole percentage
point), the Bonus for such fiscal year shall be the Bonus Potential for such fiscal year multiplied by 1.33.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">C-1</P>

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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exh_103.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDMENT NO. 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EMPLOYMENT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BETWEEN AMERICA&rsquo;S CAR-MART, INC.
AND JEFFREY A. WILLIAMS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Amendment No.
1 to the Employment Agreement (the &ldquo;<B>Amendment</B>&rdquo;) between America&rsquo;s Car-Mart, Inc., an Arkansas corporation
(the &ldquo;<B>Company</B>&rdquo;) and Jeffrey A. Williams (the &ldquo;<B>Associate</B>&rdquo;) is entered into and effective as
of November 13, 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>RECITALS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Company and the Associate have agreed to certain amendments to the Employment Agreement dated on or as of May 1, 2007 between the
Company and the Associate (the &ldquo;<B>Employment Agreement</B>&rdquo;) as set forth below;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, all
capitalized terms not defined herein shall have the same meaning given to such terms in the Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>,
in consideration of the mutual covenants and promises contained herein, the parties hereto, each intending to be legally bound
hereby, agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&#9;<B><U>Amendment
of Section 3</U></B>. Section 3 of the Employment Agreement is hereby deleted in its entirety and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify"><U>Term.</U> Unless otherwise terminated
in accordance with Sections 8, 9, 10 or 11, the Employment Term shall be for a term ending April 30, 2015. This Agreement shall
be automatically renewed for successive additional Employment Terms of one (1) year each unless notice of termination is given
in writing by either party to the other party at least thirty (30) days prior to the expiration of the initial Employment Term
or any renewal Employment Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&#9;<B><U>Amendment
of Section 4(a)</U></B>. Section 4(a) of the Employment Agreement is hereby deleted in its entirety and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">(a)&#9;Base Salary and Benefits. The
base annual salary of the Associate for his employment services hereunder shall be $180,000 or such higher annual salary, if any,
as shall be approved by the Board of Directors of the Parent Company from time to time (the &ldquo;Base Salary&rdquo;), which shall
be payable in accordance with the Company&rsquo;s payroll policy. Effective as of May 1, 2010, the Base Salary for the Associate
shall be $250,000 or such higher annual salary, if any, as shall be approved by the Board of Directors of the Parent Company from
time to time. Nothing contained herein shall affect or in any way limit the Associate&rsquo;s rights as an Associate of the Company
to participate in any Company 401(k) profit sharing plan or medical and life insurance programs offered by the Company to its employees,
or affect or in any way limit any other benefits provided to the Associate as of the date hereof or as may be approved by the Board
of Directors of the Parent Company from time to time, all of which shall be available to the Associate to the same extent as if
this Agreement had not existed, and compensation received by the Associate hereunder shall be in addition to the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&#9;<B><U>Amendment
to Section 4(b)</U></B>. Section 4(b) of the Employment Agreement is hereby deleted in its entirety and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in">(b)&#9;Bonus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(i)&#9;In addition to the Base Salary
and fringe benefits described above, the Associate shall be eligible to earn an annual cash bonus (the &ldquo;Bonus&rdquo;) during
the term beginning May 1, 2007 and ending April 30, 2010. The Bonus range shall be $20,000 to $30,000 per fiscal year, and shall
be based upon Parent Company&rsquo;s Economic Profit Per Share as defined and described below. The Bonus will depend on the Parent
Company attaining a minimum of 85% of its projected economic profit per share (in which case a $20,000 bonus would be paid) and
will increase ratably up to 115% of its projected economic profit per share (in which case a $30,000 bonus would be paid), as set
forth in <B>Appendix A</B> to this Agreement; provided however, Associate expressly acknowledges and agrees that the projected
Parent Company Economic Profit Per Share for fiscal 2009 and fiscal 2010 shall be subject to adjustment by the Compensation Committee
of the Board of Directors of the Parent Company, in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(ii)&#9;In addition to the Base Salary
and fringe benefits described above and the Bonus described above, the Associate shall be eligible to earn an additional cash bonus
of $30,000 for the period beginning May 1, 2009 and ending April 30, 2010 if for such period Parent Company&rsquo;s GAAP Earnings
Per Share (as defined below) is $2.20 or more; provided, however, that for purposes of this Section 4(b)(ii), the Parent Company&rsquo;s
GAAP Earnings Per Share shall exclude any and all compensation expense or charges associated with the amendments dated as of November
13, 2009 to the Employment Agreements dated as of May 1, 2007, between the Company and its &ldquo;named executive officers&rdquo;
(as listed in the Parent Company&rsquo;s annual definitive proxy statement filed with the Securities and Exchange Commission).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(iii)&#9;In addition to the Base Salary
and fringe benefits described above, the Associate shall be eligible to earn a Bonus for each of the fiscal years during the term
beginning May 1, 2010 and ending April 30, 2015. The Bonus shall be based upon Parent Company&rsquo;s projected fully diluted earnings
per share calculated in accordance with GAAP for each fiscal year (&ldquo;GAAP Earnings Per Share&rdquo;). The Bonus will depend
on the Parent Company attaining a minimum of 95% of its projected GAAP Earnings Per Share, as set forth in <B>Appendix C</B> to
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(iv)&#9;&ldquo;Parent Company&rsquo;s
Economic Profit Per Share&rdquo; shall be defined as net operating profit after tax, less a capital charge (after tax) applied
to the &ldquo;Economic Capital&rdquo; required to generate said profits, divided by fully diluted shares outstanding. &ldquo;Economic
Capital&rdquo; is defined as net assets plus debt plus cumulative after tax interest expense at the end of the fiscal year. The
Parent Company Economic Profit Per Share shall exclude any and all compensation associated with the Employment Agreements dated
as of May 1, 2007, between the Company and its &ldquo;named executive officers&rdquo; (as listed in the Parent Company&rsquo;s
annual definitive proxy statement filed with the Securities and Exchange Commission).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">(v)&#9;The Bonus, if any, shall be paid
each fiscal year, within fifteen (15) days following the Parent Company&rsquo;s filing of its annual report on Form 10-K for such
fiscal year, based upon the Parent Company&rsquo;s Economic Profit Per Share or GAAP Earnings Per Share for that fiscal year. Any
Bonus shall be deemed to be earned by the Associate if the Associate was an employee of the Company as of the last day of the fiscal
year in question.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&#9;<B><U>Addition
of Section 4(d)</U></B>. A new Section 4(d) is hereby inserted into the Employment Agreement after Section 4(c) but before Section
5:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&#9;Additional Equity
Awards. On November 27, 2009, the Parent Company will grant to the Associate the following equity awards: (i) a non-qualified stock
option to purchase 120,000 shares of Parent Company common stock pursuant to the Parent Company&rsquo;s 2007 Stock Option Plan,
which options shall vest in equal installments (24,000 options) on each of April 30, 2011, April 30, 2012, April 30, 2013, April
30, 2014 and April 30, 2015; and (ii) 5,000 shares of restricted stock pursuant to the Parent Company&rsquo;s Stock Incentive Plan,
which shares of restricted stock shall vest on April 30, 2015 if the Parent Company attains at least 70% of its cumulative projected
GAAP Earnings Per Share for the period commencing on May 1, 2010 and ending on April 30, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&#9;<B><U>Addition
of Appendix C</U></B>. A new Appendix C, as attached to this Amendment, is hereby appended to the Employment Agreement after Appendix
B.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&#9;<B><U>Reaffirmation</U></B>.
Except to the extent the provisions of the Employment Agreement are specifically amended, modified or superseded by this Amendment,
the Employment Agreement is in full force and effect and is hereby ratified and confirmed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.<B>&#9;<U>Amendment</U></B>.
This Amendment and the Employment Agreement may only be amended by a writing signed by each party hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8<B>.&#9;<U>Counterparts</U></B>.
This Amendment may be executed in counterpart signature pages, each of which shall constitute an original but all taken together
to constitute one instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[SIGNATURE PAGE FOLLOWS.]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties have executed this Amendment on and effective as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><B>COMPANY:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><B>AMERICA&rsquo;S CAR-MART, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">By: <U>/s/ William H. Henderson</U>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">Name: William H. Henderson&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">Title: President and Chief Executive
Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><B>ASSOCIATE:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><U>/s/ Jeffrey A. Williams&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">Jeffrey A. Williams</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U><BR>
</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>APPENDIX C</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Applicable to the Bonus pursuant to
Section 4(b)(iii)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Employment Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fiscal 2011-2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: black 1.1pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-top: black 1.1pt solid; border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Fiscal Year</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%; border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; border-left: black 1.1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2011</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2012</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2013</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2014</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1.1pt solid; border-right: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2015</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; border-left: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><B>Projected GAAP Earnings Per Share</B></FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2010 Actual GAAP Earnings Per Share multiplied by 1.15</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2011 Projected GAAP Earnings Per Share multiplied by 1.15</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2012 Projected GAAP Earnings Per Share multiplied by 1.15</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2013 Projected GAAP Earnings Per Share multiplied by 1.15</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">2014 Projected GAAP Earnings Per Share multiplied by 1.15</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; border-left: black 1.1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><B>Bonus Potential:</B></FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$70,000</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$77,000</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$84,700</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$93,170</FONT></TD>
    <TD STYLE="border-right: black 1.1pt solid; border-bottom: black 1.1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$102,487</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">If Parent Company&rsquo;s actual GAAP Earnings
Per Share equals 95-99% of Parent Company&rsquo;s projected GAAP Earnings Per Share (rounded to the nearest whole percentage point),
the Bonus for such fiscal year shall be the Bonus Potential for such fiscal year multiplied by 0.67.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">If Parent Company&rsquo;s actual GAAP Earnings
Per Share equals 100-104% of Parent Company&rsquo;s projected GAAP Earnings Per Share (rounded to the nearest whole percentage
point), the Bonus for such fiscal year shall be the Bonus Potential for such fiscal year multiplied by 1.00.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">If Parent Company&rsquo;s actual GAAP Earnings
Per Share equals 105% or more of Parent Company&rsquo;s projected GAAP Earnings Per Share (rounded to the nearest whole percentage
point), the Bonus for such fiscal year shall be the Bonus Potential for such fiscal year multiplied by 1.33.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">C-1</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>



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