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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) May 29, 1995
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LILLIAN VERNON CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-9637 13-2529859
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(State of Incorporation) (Commission File (I.R.S. Employer
Number) Identification No.)
543 Main Street, New Rochelle, New York 10801
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (914) 576-6400
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ITEM 5. OTHER EVENTS
Effective May 29, 1995, Stephen S. Marks resigned as the Registrant's
President and Chief Operating Officer to pursue entrepreneurial
opportunities. Lillian Vernon, the Registrant's Chairman and Chief Executive
Officer, will assume Mr. Marks' responsibilities on an interim basis.
Pursuant to a Severance Agreement entered into between the Registrant and
Mr. Marks, the Registrant is obligated to pay Mr. Marks a severance amount of
$314,500. In addition, options previously granted to Mr. Marks to purchase
80,000 shares of the Registrant's common stock at various prices, have been
cancelled.
SIGNATURES
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, herewith duly authorized.
LILLIAN VERNON CORPORATION
Date: June 22, 1995 By: /s/ Andrew Gregor
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Andrew Gregor, Vice President --
Chief Financial Officer
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