Exhibit 10.1

                           STOCK REPURCHASE AGREEMENT

     This Stock Repurchase  Agreement (this "Agreement") is dated as of December
31,  2007  between  Steamboat   Industries  LLC  ("SIL")  and  Standard  Parking
Corporation, a Delaware corporation (the "Company").

                                    RECITALS
                                    --------

     A.  SIL and its  affiliates  (collectively,  "Seller")  have  control  over
certain shares of common stock,  par value $0.001 per share, of the Company (the
"Common Stock").

     B. The Board of Directors of the Company (the "Board") has  authorized  the
repurchase of shares of its Common Stock for a value not to exceed $25.0 million
(the "Repurchase").

     C. The  Repurchase  authorized  by the Board will be  comprised of (i) open
market  repurchases of Common Stock  authorized by the Company from time to time
("Open Market Purchases"), and (ii) repurchases of Common Stock from Seller from
time to time as determined  by Seller,  at the same price paid by the Company in
each corresponding Open Market Purchase (the "SIL Repurchases").

     D.  Seller  desires to sell and the Company  desires to purchase  shares of
common stock of the Company  (the  "Shares")  in  accordance  with the terms and
conditions of this Agreement.


                                    AGREEMENT
                                    ---------

     NOW,  THEREFORE,  in consideration of the mutual covenants set forth in the
Agreement  and other  good and  valuable  consideration,  the  parties  agree as
follows:

     1. Purchase of Shares. From the date of this Agreement through the earliest
to occur of, (a) the date upon which the Board shall  terminate  the  Repurchase
or, (b) the Company  consummates  the repurchase of shares having a value not to
exceed $25 million  (the  "Term"),  Seller  hereby  agrees to sell Shares to the
Company from time to time as determined by Seller, and the Company hereby agrees
to purchase  Shares from time to time as so  determined  by Seller,  at the same
price paid by the Company in each  corresponding  Open Market  Purchase,  as set
forth in Schedule A attached  hereto.  Each SIL Repurchase shall take place on a
date (a  "Closing  Date")  determined  in  accordance  with  Schedule A. On each
Closing Date,  the Company shall pay the purchase price for the Shares to Seller
in  immediately  available  funds  by check or by wire  transfer  to an  account
designated by Seller, and Seller shall deliver stock  certificates  representing
the Shares together with an executed  assignment  separate from the certificates
transferring  the  Shares to the  Company or  otherwise  properly  endorsed  for
transfer.  The  Company's  officers  shall  thereafter  cause  the  Shares to be
cancelled or held by the Company as treasury stock.

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<PAGE>

     2. Specific Approval. The Company shall obtain the approval in advance (the
"Specific  Approval")  of the Audit  Committee  (which  may be by  facsimile  or
electronic mail) of each specific repurchase transaction in accordance with Rule
16b-3(e) under the Securities  Exchange Act of 1934, as amended, if so requested
by  John  V.  Holten,  directly  or  directly  through  any of  Seller,  the JVH
Descendants'  2001 Trust, the JVH Descendants'  2004 Trust, the JVH Descendants'
2007 Trust,  Vinland Industries LLC ("VIL") or any other trust, company or other
entity for which John V. Holten  serves as trustee,  manager or officer,  as the
case may be, and which may be a direct or indirect beneficial owner of shares of
the Company.

     The Company shall notify the Audit Committee  (which may be by facsimile or
electronic mail) of the date of such repurchase  transaction,  number of shares,
price per share and total  consideration.  The Closing Date for such  repurchase
transaction shall not occur until the Specific  Approval has been obtained.  The
Specific  Approval  shall  apply also with  respect to John V.  Holten,  the JVH
Descendants'  2001 Trust, the JVH Descendants'  2004 Trust, the JVH Descendants'
2007 Trust,  VIL and any other trust,  company or other entity for which John V.
Holten serves as trustee,  manager or officer, as the case may be, and which may
own an interest in Seller or may  otherwise  be a direct or indirect  beneficial
owner of the shares of the Company under Section 16 of the  Securities  Exchange
Act of 1934, as amended.

     3. Representations and Warranties of Seller. Seller represents and warrants
to the Company that:

     (a) Seller is the owner of the Shares to be sold hereunder,  free and clear
of any liens,  encumbrances,  security agreements,  options,  claims, charges or
restrictions  except as set forth in that certain  Registration Rights Agreement
between the Company and SIL dated as of June 2, 2004.

     (b)  Following  each  Closing  Date  under this  Agreement,  Seller and its
affiliates shall maintain voting control over a majority of the Common Stock.

     (c) Seller has full power and  capacity  to  execute,  deliver  and perform
under  this  Agreement,  which has been duly  executed  and  delivered  by,  and
evidences  the valid and binding  obligation  of Seller in  accordance  with its
terms.  Upon its  execution  and delivery,  this  Agreement  will be a valid and
binding obligation of Seller, enforceable in accordance with its terms.

     (d) Seller has entered into this Agreement  based on its own  investigation
and analysis and that of its advisors, including legal counsel.

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<PAGE>

     (e) Seller has had an  opportunity  to review the federal,  state and local
tax  consequences of the sale of the Shares to the Company and the  transactions
contemplated  by this  Agreement  with its own tax  advisors.  Seller is relying
solely on such  advisors and not on any  statements  or  representations  of the
Company or any of its agents.  Seller  understands that it (and not the Company)
shall be  responsible  for its own tax  liability,  if any  that may  arise as a
result of the transactions contemplated by this Agreement.

     4. Arm's Length Transaction. Each party has conducted its own investigation
and analysis and freely and independently  bargained for this Agreement at arm's
length  without  reliance  on any  other  party  and  each  party  is  receiving
reasonably equivalent value and fair consideration.

     5. Miscellaneous.

          5.1.  Governing  Law. This  Agreement is to be construed in accordance
with and governed by the internal laws of the State of Delaware  without  giving
effect to any choice of law rule that would cause the application of the laws of
any  jurisdiction  other than the internal  laws of the State of Delaware to the
rights and duties of the parties. All disputes and controversies  arising out of
or in connection with this Agreement shall be resolved  exclusively by the state
and federal courts located in City of Chicago, State of Illinois, and each party
hereto agrees to submit to the jurisdiction of said courts and agrees that venue
shall lie exclusively with such courts.

          5.2. Entire Agreement;  Amendment;  Waiver.  This Agreement sets forth
the entire  agreement and  understanding  of the parties relating to the subject
matter herein and supersedes  any prior  understandings  and agreements  between
them. No modification  of or amendment to this Agreement,  nor any waiver of any
rights under this Agreement,  shall be effective unless in writing signed by the
parties to this Agreement.  No failure on the part of a party to exercise and no
delay in  exercising,  any right,  remedy,  power or privilege  hereunder  shall
operate as a waiver  thereof,  nor shall any single or partial  exercise  of any
such right,  remedy,  power or privilege  preclude any other or further exercise
thereof or the exercise of any other rights, remedy, power or privilege.

          5.3.  Severability.  If  any  provision  of  this  Agreement,  or  the
application of such provision to any person or circumstance,  is held invalid or
unenforceable,  the  remainder of this  Agreement,  or the  application  of such
provisions to persons or  circumstances  other than those as to which it is held
invalid or unenforceable, shall not be affected thereby.

          5.4. Successors and Assigns.  This Agreement shall be binding upon the
heirs, executors, administrators, successors and assigns of the parties hereto.

          5.5.  Counterparts.  This  Agreement  may be  executed  in two or more
counterparts,  each of  which  shall  be  deemed  an  original  and all of which
together shall constitute one instrument.

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<PAGE>


          IN  WITNESS   WHEREOF,   the  undersigned  have  executed  this  Stock
Repurchase Agreement as of the date first referred above.

STANDARD PARKING CORPORATION                        STEAMBOAT INDUSTRIES LLC


By: /s/ James A. Wilhelm                            By: /s/ John V. Holten
   -------------------------------------                ------------------------
   James A. Wilhelm                                     John V. Holten
   President and Chief Executive Officer                Manager


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