UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) July 31, 2006
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A.C. MOORE ARTS & CRAFTS, INC.
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(Exact name of registrant as specified in its charter)
Pennsylvania 000-23157 22-3527763
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
130 A.C. Moore Drive, Berlin, NJ 08009
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(Address of principal executive offices)(Zip Code)
Registrant's telephone number, including area code (856) 768-4930
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Not Applicable
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
Separation Agreement
On July 31, 2006, A.C. Moore Arts & Crafts, Inc. (the "Company") and
Janet Parker entered into an Agreement and Complete and Full General Release
(the "Separation Agreement") pursuant to which Ms. Parker's employment as the
Company's Executive Vice President, Merchandising and Marketing terminated on
July 31, 2006. Following the separation date, Ms. Parker will receive a
severance payment from the Company in an amount equal to one year's compensation
at her current rate, paid in 12 monthly installments. The Separation Agreement
also provides for Ms. Parker's release of the Company from all claims and for
confidentiality provisions, as well as her agreement for 12 months not to
directly or indirectly compete with the Company within any geographic area in
which the Company engages in business as of the separation date or solicit
employees from the Company.
The foregoing summary of the Separation Agreement is not intended to be
complete and is qualified in its entirety by reference to the agreement, which
is attached to this Current Report as Exhibit 10.1 and is incorporated by
reference into this Item 1.01.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
Exhibit No. Description
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10.1 Agreement and Complete and Full General Release, dated
July 31, 2006, between the Company and Janet Parker.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
A.C. MOORE ARTS & CRAFTS, INC.
Date: July 31, 2006 By: /s/ Amy Rhoades
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Name: Amy Rhoades
Title: Vice President and General Counsel
EXHIBIT INDEX
Exhibit No. Description
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10.1 Agreement and Complete and Full General Release, dated
July 31 2006, between the Company and Janet Parker.