NAVARRE CORPORATIONStock Option Acceleration Agreement • March 23rd, 2006 • Navarre Corp /Mn/ • Wholesale-computers & peripheral equipment & software
This letter agreement (this “Agreement”) is being entered into by and between you and Navarre Corporation, a Minnesota corporation (the “Company”), in connection with certain of your outstanding options to purchase shares of the Company’s common stock (each, an “Underwater Stock Option”) previously granted to you pursuant to the Company’s 1992 Stock Option Plan and the 2004 Stock Plan, as applicable (each, a “Plan”), as identified on Exhibit A attached hereto, which are currently underwater.
