EMPLOYMENT AGREEMENT Restated as of December 31, 2008Employment Agreement • December 10th, 2008 • Stanley Furniture Co Inc. • Wood household furniture, (no upholstered) • Virginia
THIS AGREEMENT, originally made as of June 1, 1996 and restated as of December 31, 2008, between DOUGLAS I. PAYNE (“Employee”) and STANLEY FURNITURE COMPANY, INC., a Delaware corporation (the “Company”). The Agreement is restated to comply with the requirements of Section 409A of the Internal Revenue Code of 1986 (the “Code”).
