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HOFT > SEC Filings for HOFT > Form 8-K on 23-May-2014All Recent SEC Filings

Show all filings for HOOKER FURNITURE CORP



Change in Directors or Principal Officers

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

On May 21, 2014, Hooker Furniture Corporation (the "Company"), entered into a consulting agreement with Alan D. Cole, the Company's former President. Mr. Cole served in that capacity until his retirement on February 2, 2014. Under the consulting agreement, Mr. Cole will provide part-time consulting services on an as-needed basis for corporate projects that Mr. Cole supervised while employed by the Company, participate in strategic planning meetings as requested and perform project work as may be agreed between the Company and Mr. Cole from time to time. Mr. Cole will receive $200 per hour for services provided under the agreement, subject to a maximum fee of $1,600 per day, plus reimbursement for travel expenses in accordance with the Company's policies. While the agreement has no specified term, the Company expects to pay Mr. Cole approximately $3,000 per month in fees and related expenses over an approximate twelve-month period.

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