EXHIBIT 10.38
ADVANCE AUTO PARTS, INC.
2004 LONG-TERM INCENTIVE PLAN
STOCK OPTION AGREEMENT
THIS AGREEMENT dated as of May 24, 2004, between Advance Auto Parts, Inc., a corporation organized under the laws
of the State of Delaware (the “ Company ”), and the individual identified in paragraph 1 below, currently residing at the address
set out at the end of this Agreement (the “ Optionee ”).
1. Grant of Option. Pursuant and subject to the Company’s 2004 Long-Term Incentive Plan (as the same may be
amended from time to time, the “ Plan ”), the Company grants to you, the Optionee identified below, an option (the “ Option ”)
to purchase from the Company all or any part of a total of the number of shares set forth below (the “ Optioned Shares ”) of the
common stock, par value $.0001 per share, in the Company (the “ Stock ”), at the exercise price per share set out below.
2. Character of Option. This Option is not intended to be treated as an “incentive stock option” within the meaning of
Section 422 of the Internal Revenue Code of 1986, as amended.
3. Duration of Option. Subject to the following sentence, this Option shall expire on the Expiration Date. However, if
your employment or other association with the Company and its Affiliates ends before that date, this Option shall expire on
Expiration Date or, if earlier, the date specified in whichever of the following applies:
(a) If the termination of your employment or other association is for cause, as determined in good faith by the
Board of Directors of the Company, the date your employment ends.
(b) If the termination of your employment or other association is on account of death, or you die within ninety
(90) days of the termination of your employment or other association (other than when terminated for cause), twelve (12)
months after your employment or other association ends or your death.
(c)