Document:

Exhibit 10.1

Exhibit 10.1

AMENDMENT TO CHANGE IN CONTROL
PROTECTION AGREEMENT

THIS AMENDMENT, to the
Change in Control Protection Agreement (the “Agreement”) dated as
of December 11, 2009 by and between Glenn Prillaman (the
“Executive”) and Stanley Furniture Company, Inc. (the
“Company” and, together with the Executive, the
“Parties”), is effective this 10th day of September,
2010.

WHEREAS, the Parties
have entered into the Agreement, have the power to amend the Agreement and now
wish to do so;

NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties hereby amend the Agreement as follows:

1.      A new
subsection (v) is hereby added to the end of the definition of
“Change in Control” in Section 1 of the Agreement as follows:

(v) Notwithstanding anything in subsection (i) above to
the contrary, (a) no acquisition of Beneficial Ownership of any additional
Stock or Voting Power by any Group through the rights offering of the Company
contemplated by the Company’s Registration Statement
(No. 333-169310) on Form S-3, as amended from time to time (the
“2010 Rights Offering”), shall be deemed to result in a Change in
Control for purposes of this Agreement; and (b) if an acquisition pursuant
to the 2010 Rights Offering results in any Group having Beneficial Ownership of
Stock or Voting Power possessing 35 percent or more of the Stock or Voting
Power, any acquisition of Beneficial Ownership of any additional Stock or
Voting Power by that Group (that occurs while the Group has Beneficial
Ownership of Stock or Voting Power possessing 35 percent or more of the
total Stock or Voting Power) that results in an increase in the percentage of
the total Stock or Voting Power held by that Group shall result in a Change in
Control for purposes of this Agreement.

2.      In all other
respects, the Agreement is hereby ratified and confirmed.

IN WITNESS WHEREOF,
the Parties have affixed their signatures hereto as of the date first written
above.

	EXECUTIVE:	 	COMPANY:
	 
			STANLEY FURNITURE COMPANY, INC.
	 
	/s/ Glenn Prillaman          	 	By:      /s/ Micah S. Goldstein     
	Glenn Prillaman		Name: Micah S. Goldstein           
			Its:      Chief Operating OfficerExhibit 10.2

Exhibit 10.2

AMENDMENT TO EMPLOYMENT AGREEMENT

THIS AMENDMENT, to the
Employment Agreement (the “Agreement”) restated as of
December 31, 2008 by and between Douglas I. Payne (the
“Executive”) and Stanley Furniture Company, Inc. (the
“Company” and, together with thes Executive, the
“Parties”), is effective this 10th day of September,
2010.

WHEREAS, the Parties
have entered into the Agreement, have the power to amend the Agreement and now
wish to do so;

NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties hereby amend the Agreement as follows:

1.      Section 7(d) of the Agreement is hereby amended by
adding a new sentence to the end thereof as follows:

For
avoidance of doubt, no acquisition of beneficial ownership of any additional
Company stock by any shareholder of the Company (or more than one shareholder
acting as a group) through the rights offering of the Company contemplated by
the Company’s Registration Statement (No. 333-169310) on Form S-3,
as amended from time to time (the “2010 Rights Offering”), shall be
deemed to result in a Change in Control for purposes of Sections 7(d)(i)
or 7(d)(ii)(1) of this Agreement.

2.      In all other
respects, the Agreement is hereby ratified and confirmed.

IN WITNESS WHEREOF,
the Parties have affixed their signatures hereto as of the date first written
above.

	EXECUTIVE:	 	COMPANY:
	 
			STANLEY FURNITURE COMPANY, INC.
	 
	/s/ Douglas I. Payne          	 	By:      /s/ Micah S. Goldstein     
	Douglas I. Payne		Name: Micah S. Goldstein           
			Its:      Chief Operating Officerexv10w1

Exhibit 10.1

FIRST AMENDMENT TO

AMENDED AND RESTATED

EXECUTIVE SEVERANCE AGREEMENT

     THIS FIRST AMENDMENT TO AMENDED AND RESTATED EXECUTIVE SEVERANCE AGREEMENT (this “Amendment”)
is made as of this 10th day of August, 2010 (the “Effective Date”) by and between Navarre
Corporation, a Minnesota corporation (the “Company”) and J. Reid Porter, a resident of the State of
Minnesota (the “Executive”).

     WHEREAS, Company and Executive previously entered into that certain Amended and Restated
Executive Severance Agreement dated March 20, 2008 (the “Executive Agreement”); and

     WHEREAS, In recognition of the Executive’s promotion to Chief Operating Officer and Chief
Financial Officer of the Company, the Company and Executive now desire to amend the Executive
Agreement pursuant to the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the above recitals and the mutual promises herein
contained, the parties hereto agree as follows:

1. Term of Executive Agreement. The term of the Agreement is hereby amended to expire in two (2)
years on August 10, 2012.

2. Good Reason. The parties contemplate that during the Term of the Executive Agreement (as
amended above) a new Chief Financial Officer may be appointed and may or may not report to
Executive. Executive agrees that such event shall not be cause for his recognition for Good
Reason, and, therefore, Paragraph 1d of the Executive Agreement (definition of “Good Reason”) is
hereby amended so that clause (ii) reads as follows:

“(ii) A material reduction in Executive’s duties, responsibilities or authority as Chief
Operating Officer of the Company; or”

3. Cash Compensation. In connection with Executive’s promotion, Executive’s minimum Base Salary
shall remain $333,000.00 and Executive’s target level bonus opportunity under the Company’s annual
incentive bonus plan shall increase to 75% of Base Salary. Executive’s performance will be
reviewed by the Compensation Committee annually to determine merit increases to the Base Salary as
the Compensation Committee deems appropriate and in accordance with its customary procedures and
practices applicable to other executives. Such increases, once granted, are not subject to
revocation except pursuant to a program of salary reductions applicable to the Company’s executive
officers generally.

4. Equity Compensation. In connection with Executive’s promotion, the Compensation Committee has
approved a grant of 100,000 time-vested restricted stock units under the Company’s 2004 Amended and
Restated Stock Plan (the “Stock Plan”) to be effective on the first date after approval by the
Company’s shareholders of the currently proposed amendment to the Stock Plan to increase the number
of shares available for issuance under the Stock Plan that is in an open trading window as provided
in the Company’s Insider Trading Policy. If effective, the restricted stock units vest in two
equal installments on August 10, 2011 and 2012 and are subject to all other terms and provisions of
the Stock Plan and the form of Restricted Stock Unit Award Agreement approved by the Compensation
Committee.

5. Covenant Not To Compete. The definition of Restricted Period in paragraph 5b of the Executive
Agreement is hereby amended to read “during his employment with the Company and for a period of one
(1) year thereafter.”

6. The parties hereto hereby acknowledge and agree that except as expressly amended hereby, the
Executive Agreement remains in full force and effect in accordance with its terms, and that this
Amendment, together with the Executive Agreement, reflect the entire agreement of the parties
hereto.

7. This Agreement may be executed in counterparts, each of which will be deemed an original but all
of which will constitute one and the same instrument.

[signature page follows]

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     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day
and year first above written.

	 	 	 	 	 
	NAVARRE CORPORATION ,	 	EXECUTIVE
	 
	 	 	 	 
	By:

	 	/s/ Cary L. Deacon
	 	/s/ J. Reid Porter
	 

	 	Cary L. Deacon
	 	J. Reid Porter
	

	 	Its: President and CEO	 	 

2exv10w8

Exhibit 10.8

Supplemental Executive Retirement Agreement

for

Joseph F. Jeamel Jr.

     This Agreement, made this 27th day of January, 2004, by and between Rockville Bank
(hereinafter referred to as the “Employer”) and Joseph F. Jeamel Jr. (hereinafter referred to as
the “Executive”).

WITNESSETH THAT:

     WHEREAS, the Executive is and will be rendering valuable services to the Employer in his
capacity as an executive officer, and

     WHEREAS, the Employer desires to ensure that it will continue to have the benefit of the
Executive’s services, and

     WHEREAS, the Employer wishes to assist the Executive in providing for the financial
requirements of the Executive in the event of his retirement or termination of employment.

     NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements
herein contained, the parties hereto agree as follows:

 

 

     1. SUPPLEMENTAL RETIREMENT BENEFIT.

          A. Retirement Benefit. Upon the Executive’s retirement or the termination of the
Executive’s employment for any reason other than death, the Executive shall be entitled to receive
pursuant to this Agreement an annual benefit of Twenty-Seven Thousand Six Hundred Thirty-Six
Dollars ($27,636) payable for twenty (20) years.

          B. Death Benefit. In the event of the Executive’s death while in the employ of the
Employer, the Executive’s beneficiary designated on Exhibit A attached hereto in accordance with
the provisions of this Section 1.B. (the “Beneficiary”) shall be entitled to receive the Retirement
Benefit that would otherwise have been provided to the Executive pursuant to Section 1.A. above.
In the event of the death of the Executive after the commencement of payment of the Retirement
Benefit provided pursuant to Section 1.A. above, payment shall continue to be made to the
Executive’s Beneficiary in an amount equal to one hundred percent (100%) of the annual benefit that
the Executive was receiving at the time of death until such annual benefit shall have been paid to
the Executive and his Beneficiary for a total period of twenty (20) years. The Executive shall
have the right, at any time, to designate Beneficiary(ies) (both primary as well as contingent) to
receive the death benefit payable under this Section 1.B.. The Beneficiary designated under this
Agreement may be the same as or different from the beneficiary designated under any other plan of
or agreement with the Employer. The Executive shall designate his Beneficiary by completing and
signing the beneficiary designation form
attached hereto as Exhibit A and returning it to the Senior Vice

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President, Human Resources
for the Employer. The Executive shall have the right to change his Beneficiary by completing,
signing and otherwise complying with the terms of the beneficiary designation form attached hereto
as Exhibit A. Upon the acceptance by the Senior Vice President, Human Resources of the Employer of
a new beneficiary designation form, all Beneficiary designations previously filed shall be
canceled. The Employer shall be entitled to rely on the last beneficiary designation form filed by
the Executive and accepted by the Senior Vice President, Human Resources of the Employer prior to
the Executive’s death. In the event of the death of the Executive without a designated
Beneficiary, any benefits remaining to be paid under this Agreement to the Executive shall be paid
to the Executive’s estate.

     2. TERMS AND CONDITIONS OF BENEFIT. The annual benefit payable in accordance with
Section 1 hereof shall be paid in monthly installments on the first day of each month commencing on
the first day of the month immediately following the Executive’s retirement, termination of
employment or death. Monthly installments of benefits shall cease to be paid after 240 months of
installments have been paid to the Executive, his Beneficiary or both, as the case may be.

     3. FORFEITURE UPON TERMINATION FOR CAUSE. Anything in this Agreement to the contrary
notwithstanding, if the Executive’s employment is “Terminated for “Cause” prior to a “Change in
Control”, as such terms are defined in the Employer’s Phantom
Stock Plan, the annual benefit payable in accordance with Section 1. A. or Section 1.B. hereof
shall be forfeited. If the Executive or his Beneficiary has received any monthly installments of

3

 

the annual benefit payable in accordance with Section 1. A. or Section 1.B. hereof and it is
subsequently determined that the Executive was Terminated for Cause prior to a Change in Control,
then the monthly installments previously paid shall be returned by the Executive or his
Beneficiary, as the case may be, to the Employer, and no further monthly installments shall be
payable under this Agreement. The provisions of this Section 3 shall not apply in the event that
the Executive’s employment is Terminated for Cause in connection with a Change in Control, in which
case the Executive’s benefit shall be payable as otherwise provided in this Agreement.

     4. ABSENCE OF FUNDING. Benefits payable pursuant to this Agreement shall not be
funded, and the Employer shall not be required to segregate or earmark any of its assets for the
benefit of the Executive. Such benefits shall not be subject in any manner to anticipation,
alienation, transfer or assignment by the Executive, and any attempt to anticipate, alienate,
transfer or assign these benefits shall be void. The Executive shall have only the right of an
unsecured general creditor of the Employer for the benefits hereunder.

     5. MISCELLANEOUS.

          A. This Agreement may be amended at any time by mutual written agreement of the parties
hereto, but no amendment shall operate to give the Executive, either directly or
indirectly, any interest whatsoever in any funds or assets of the Employer, except the right
to receive the payments herein provided.

4

 

          B. This Agreement shall not supersede any contract of employment, whether oral or in writing,
between the Employer and the Executive, nor shall it affect or impair the rights and obligations of
the Employer and the Executive, respectively, thereunder. Nothing contained herein shall impose
any obligation on the Employer to continue the employment of the Executive.

          C. This Agreement shall be construed in accordance with and governed by the laws of the State
of Connecticut, except to the extent that such laws are preempted by Federal law.

          D. This Agreement shall be binding upon the successors of the Employer. The Employer shall
require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise)
to all or substantially all of the business and/or assets of the Employer to expressly assume and
agree to perform the obligations of the Employer under this Agreement in the same manner and to the
same extent that the Employer would have been required to perform such obligations if no such
succession had taken place and such assumption shall be an express condition to the consummation of
any such purchase, merger, consolidation or other transaction.

          E. The Employer shall be responsible for the administration of this Agreement and shall have
the sole discretion to determine all questions arising in connection with the Agreement, to
interpret the provisions of the Agreement and to construe all of its terms.

5

 

All such actions of
the Employer shall be conclusive and binding upon the Executive, his Beneficiary and other persons.
Claims for benefits under this Agreement shall be decided in accordance with the claims procedures
provisions set forth in the Employer’s 401(k) Plan, which are incorporated herein by this
reference.

          F. The Employer may withhold from any benefit payable under this Agreement an amount
sufficient to satisfy its tax withholding obligations.

     IN WITNESS WHEREOF, the Employer and the Executive have executed this Agreement as of the day
and year first above written.

	 	 	 	 	 	 	 

	 	 	ROCKVILLE BANK	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ William J. McGurk	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Its President	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	/s/ Joseph F. Jeamel	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Joseph F. Jeamel	 	 

6

 

EXHIBIT A

BENEFICIARY DESIGNATION

Subject to the conditions and provisions of the Agreement and subject to the right reserved therein
to change the Beneficiary, the Beneficiary designation with respect to the Death Benefit which may
become payable under the Agreement shall be as follows:

	 	 	 

	Primary:
	 	 
	 

	 	 
	 

	 	Name
	 
	 	 
	 

	 	 
	 

	 	Address
	 
	 	 
	First Contingent:
	 	 
	 

	 	 
	 

	 	Name
	 
	 	 
	 

	 	 
	 

	 	Address
	 
	 	 
	Second Contingent:
	 	 
	 

	 	 
	 

	 	Name
	 
	 	 
	 

	 	 
	 

	 	Address

If, however, no Beneficiary hereinbefore designated is living at my death, any Death Benefit which
may become payable under the Agreement shall be payable to the executor or administrator of my
estate.

	 	 	 	 	 	 	 

	Signed at
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 

	 	(City and State)
	 	 	 	(Date)
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	Joseph F. Jeamel Jr.	 	 	 	(Signature of Witness)
	 

	 	 	 	 	 	Print Name:

7

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