Exhibit 10.1



 Exhibit 10.1 
 AMENDMENT NO. 6 TO CREDIT AGREEMENT 
 THIS AMENDMENT NO. 6
TO CREDIT AGREEMENT (this “Amendment”) is entered into as of February 3, 2012, by and among the Lenders identified on the signature pages hereof (such Lenders, together with their respective successors and permitted assigns,
are referred to hereinafter each individually as a “Lender” and collectively as the “Lenders”), WELLS FARGO CAPITAL FINANCE, LLC, formerly known as Wells Fargo Foothill, LLC, a Delaware limited liability company, as
the arranger and administrative agent for the Lenders (in such capacity, “Agent”) and NAVARRE CORPORATION, a Minnesota corporation (“Borrower”). 

WHEREAS, Borrower, Agent, and Lenders are parties to that certain Credit Agreement dated as of November 12, 2009 (as
amended, modified or supplemented from time to time, the “Credit Agreement”); 
 WHEREAS, in
connection with the foregoing, Borrower, Agent and Lenders have agreed to amend the Credit Agreement in certain respects; 
 NOW THEREFORE, in consideration of the premises and mutual agreements herein contained, the parties hereto agree as follows: 

1. Defined Terms. Unless otherwise defined herein, capitalized terms used herein shall have the meanings ascribed
to such terms in the Credit Agreement. 
 2. Amendment to Credit Agreement: Subject to the satisfaction
of the conditions set forth in Section 5 below, in reliance upon the representations and warranties of Borrower set forth in Section 6 below, the Credit Agreement is hereby amended in the following respects: 

(a) Schedule 1.1 of the Credit Agreement is amended by amending the definition of the term “EBITDA” set forth
therein by (i) deleting the “and” following subclause (vi) of clause (c) thereof, (ii) inserting a comma and the word “and” following the reference to “March 31, 2012” at the end of subclause
(vii) of clause (c) thereof, and (iii) inserting a new subclause (viii) in clause (c) thereof following such newly inserted “and” and prior to the phrase “in each case to the extent included in the calculation
of consolidated net income of such Person for such period in accordance with GAAP”: 

(viii) non-cash charges not to exceed $5,690,000 in the aggregate resulting from the writedown of
goodwill of Encore Software, Inc. by Borrower during the fiscal year of Borrower ending March 31, 2012, 

3. Continuing Effect. Except as expressly set forth in Section 2 of this Amendment, nothing in this
Amendment shall constitute a modification or alteration of the terms, conditions or covenants of the Credit Agreement or any other Loan Document, or a waiver of any other terms or provisions thereof, and the Credit Agreement and the other Loan
Documents shall remain unchanged and shall continue in full force and effect, in each case as amended hereby. 







 4. Reaffirmation and Confirmation. Borrower hereby ratifies, affirms,
acknowledges and agrees that the Credit Agreement and the other Loan Documents represent the valid, enforceable and collectible obligations of Borrower, and further acknowledges that there are no existing claims, defenses, personal or otherwise, or
rights of setoff whatsoever with respect to the Credit Agreement or any other Loan Document. Borrower hereby agrees that this Amendment in no way acts as a release or relinquishment of the Liens and rights securing payments of the Obligations. The
Liens and rights securing payment of the Obligations are hereby ratified and confirmed by Borrower in all respects. 
 5. Conditions to Effectiveness. This Amendment shall become effective upon the satisfaction of each of the following conditions precedent, each in form and substance acceptable to Agent:

 (a) Agent shall have received a fully executed copy of this Amendment (along with the Consent and
Reaffirmation attached hereto), together with such other documents, agreements and instruments as Agent may require or reasonably request; and 
 (b) No Default or Event of Default shall have occurred and be continuing on the date hereof (other than the Existing Defaults) or as of the date of the effectiveness of this Amendment. 

6. Representations and Warranties. In order to induce Agent and Lenders to enter into this Amendment, Borrower
hereby represents and warrants to Agent and Lenders that, after giving effect to this Amendment: 
 (a) All
representations and warranties contained in the Credit Agreement and the other Loan Documents are true and correct on and as of the date of this Amendment, in each case as if then made, other than representations and warranties that expressly relate
solely to an earlier date (in which case such representations and warranties were true and correct on and as of such earlier date); 
 (b) No Default or Event of Default has occurred and is continuing; and 
 (c) This Amendment and the Credit Agreement, as modified hereby, constitute legal, valid and binding obligations of Borrower and are enforceable against Borrower in accordance with their respective terms.

 7. Miscellaneous. 

(a) Expenses. Borrower agrees to pay on demand all Lender Group Expenses of Agent (including, without limitation,
the fees and expenses of outside counsel for Agent) in connection with the preparation, negotiation, execution, delivery and administration of this Amendment and all other instruments or documents provided for herein or delivered or to be delivered
hereunder or in connection herewith. All obligations provided herein shall survive any termination of this Amendment and the Credit Agreement as modified hereby. 

(b) Governing Law. This Amendment shall be a contract made under and governed by the internal laws of the State of
Illinois. 

  
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 (c) Counterparts. This Amendment may be executed in any number of
counterparts, and by the parties hereto on the same or separate counterparts, and each such counterpart, when executed and delivered, shall be deemed to be an original, but all such counterparts shall together constitute but one and the same
Amendment. Delivery of an executed counterpart of this Amendment by facsimile or electronic mail shall be equally effective as delivery of an original executed counterpart of this Amendment. 

8. Release. 
 (a) In consideration of the agreements of Agent and Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Borrower and each
Guarantor (by its execution and delivery of the attached Consent and Reaffirmation), on behalf of itself and its successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably releases, remises and forever
discharges Agent and Lenders, and their successors and assigns, and their present and former shareholders, affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, agents and other representatives (Agent, each
Lender and all such other Persons being hereinafter referred to collectively as the “Releasees” and individually as a “Releasee”), of and from all demands, actions, causes of action, suits, covenants, contracts,
controversies, agreements, promises, sums of money, accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities whatsoever (individually, a “Claim” and
collectively, “Claims”) of every name and nature, known or unknown, suspected or unsuspected, both at law and in equity, which Borrower, any Guarantor or any of their respective successors, assigns, or other legal representatives
may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or by reason of any circumstance, action, cause or thing whatsoever in relation to, or in any way in connection with any of the Credit Agreement,
or any of the other Loan Documents or transactions thereunder or related thereto which arises at any time on or prior to the day and date of this Amendment. 
 (b) Each of Borrower and each Guarantor understands, acknowledges and agrees that the release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction
against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such release. 
 (c) Each of Borrower and each Guarantor agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the
final, absolute and unconditional nature of the release set forth above. 
 [signature pages follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective officers thereunto duly authorized and delivered as of the date first above written. 
  

					
	 NAVARRE CORPORATION,
 a Minnesota corporation

		
	By:	 	 
		 	Title:	 	 


 Signature Page to Amendment No. 6 to Credit Agreement 







  

					
	 WELLS FARGO CAPITAL FINANCE, LLC,
 formerly known as Wells Fargo Foothill, LLC,
 a Delaware limited liability company, as Agent and as
a Lender

		
	By:	 	 
		 	Title:	 	 


 Signature Page to Amendment No. 6 to Credit Agreement 







 CONSENT AND REAFFIRMATION 

Each of the undersigned hereby (i) acknowledges receipt of a copy of the foregoing Amendment No. 6 to Credit
Agreement (terms defined therein and used, but not otherwise defined, herein shall have the meanings assigned to them therein); (ii) consents to Borrower’s execution and delivery thereof; (iii) agrees to be bound by the terms of the
Amendment, including Section 8 thereof; and (iv) affirms that nothing contained therein shall modify in any respect whatsoever any Loan Document to which any of the undersigned is a party and reaffirm that each such Loan Document is and
shall continue to remain in full force and effect. Although each of the undersigned has been informed of the matters set forth herein and has acknowledged and agreed to same, each of the undersigned understands that Agent and Lenders have no
obligation to inform any of the undersigned of such matters in the future or to seek any of the undersigned’s acknowledgment or agreement to future consents, amendments or waivers, and nothing herein shall create such a duty. 

IN WITNESS WHEREOF, each of the undersigned has executed this Consent and Reaffirmation on and as of the date of such
Amendment. 
  

					
	 NAVARRE DISTRIBUTION SERVICES, INC.,
 a Minnesota corporation

		
	By:	 	 
		 	Title:	 	 


  

					
	NAVARRE ONLINE FULFILLMENT SERVICES, INC., a Minnesota corporation
		
	By:	 	 
		 	Title:	 	 


  

					
	 ENCORE SOFTWARE, INC.,
 a Minnesota Corporation

		
	By:	 	 
		 	Title:	 	 


  

					
	 NAVARRE DIGITAL SERVICES, INC.,
 a Minnesota Corporation

		
	By:	 	 
		 	Title:	 	 


 Consent and Reaffirmation to Amendment No. 6 to Credit Agreement 







  
  

					
	 NAVARRE LOGISTICAL SERVICES, INC.,
 a Minnesota corporation

		
	By:	 	 
		 	Title:	 	 


  

					
	 NAVARRE DISTRIBUTION SERVICES ULC,
 a British Columbia unlimited liability company

		
	By:	 	 
		 	Title:	 	 


 Consent and Reaffirmation to Amendment No. 6 to Credit Agreement