Summary of HAVERTY FURNITURE COMPANIES INC

Item 5.02 Departure of Directors or Certain Officers; Election of Directors:
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On February 2, 2009, Haverty Furniture Companies, Inc. (the "Company") announced that M. Tony Wilkerson had informed the Company of his intention to retire effective February 15, 2009 ("Resignation Date"). The Company entered into a Separation Agreement and Release with Mr. Wilkerson which provides certain compensation and benefits in connection with his retirement.

Under the Separation Agreement, which will become effective on the Resignation Date, the Company accelerated the vesting of certain equity grants awarded to Mr. Wilkerson as a result of his 2004 to 2008 performance. This includes restricted stock grants of 8,000 shares, PARS of 4,800 shares, and PARSUs of 3,500 shares. The Company has also converted all of Mr. Wilkerson's 30,952 incentive stock options to non-qualified options. The expiration date on all options will remain the same as on the grant date. Stock Settled Appreciation Rights totaling 17,500 shares will be forfeited. Mr. Wilkerson and his covered dependents also remain eligible for the Company's Group Medical Program until August 31, 2010 at the same monthly premiums paid by all employees. In exchange for the benefits offered, Mr. Wilkerson provided the Company general releases with respect to claims arising out of his employment or separation from employment and agreed to a non-compete clause until February 15, 2011.

The Separation Agreement is attached hereto as Exhibit 10.1 and is incorporated by reference herein as if set forth in full. The descriptions of the material terms of the Separation Agreement set forth above are qualified in their entirety by reference to such exhibit.