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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
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<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
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<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>Form&nbsp;S-8</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 6pt"><B>REGISTRATION STATEMENT UNDER THE</B></DIV>


<DIV align="center" style="font-size: 12pt"><B>SECURITIES ACT OF 1933</B></DIV>


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<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>CULP, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of Registrant, as Specified in Its Charter)</DIV>


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    <TD align="center" valign="top">North Carolina
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">56-1001967</TD>
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</TD>
    <TD>&nbsp;</TD>
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    <TD align="center" valign="top">(State or Other Jurisdiction of <BR>
Incorporation or Organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer)<BR>
Identification No.)</TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><FONT style="border-bottom: 1px solid #000000">1823 Eastchester Drive, High Point, North Carolina 27265</FONT><BR>
(Address of Principal Executive Offices)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><FONT style="border-bottom: 1px solid #000000">Culp Inc. 2007 Equity Incentive Plan</FONT><BR>
(Full Title of the Plan)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Franklin N. Saxon<BR>
Culp, Inc.<BR>
1823 Eastchester Drive<BR>
Post Office Box 2686<BR>
High Point, North Carolina 27265<BR>
<DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">(Name and Address of Agent For Service)</FONT></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(336)&nbsp;889-5161<BR>
<DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">(Telephone Number, Including Area Code, of Agent for Service)</FONT></DIV></DIV>

<DIV align="center" style="font-size: 10pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Copy to:<BR>
Henry H. Ralston<BR>
Robinson, Bradshaw &#038; Hinson, P.A.<BR>
101 North Tryon Street, Suite&nbsp;1900<BR>
Charlotte, North Carolina 28246<BR>
(704)&nbsp;377-2536</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CALCULATION OF REGISTRATION FEE</B></DIV>

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    <TD nowrap align="center">Proposed Maximum</TD>
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    <TD nowrap align="center">Proposed Maximum</TD>
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    <TD nowrap align="center">Title of Each Class of Securities</TD>
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    <TD nowrap align="center">Aggregate Offering</TD>
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    <TD nowrap align="center">To Be Registered</TD>
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<TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, $0.05 par value per share (including </DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
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    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">1,200,000<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
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    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$9.02</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
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    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$10,824,000</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$333.00<SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
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<TD style="border-top: 0px solid #000000"><DIV style="margin-left:30px; text-indent:-15px">associated
rights for purchase of Series&nbsp;A
Participating Preferred
Shares)<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></DIV></TD>
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    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Each share of common stock offered hereby will have one associated right for the purchase of
the Registrant&#146;s Series&nbsp;A Participating Preferred Shares pursuant to the Rights Agreement, dated as
of October&nbsp;8, 1999, between the Registrant and the EquiServe Trust Company, N.A., as rights agent.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

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    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Pursuant to Rule&nbsp;416 under the Securities Act of 1933, as amended, this Registration Statement
also relates to an indeterminate number of additional shares of common stock that may be necessary
to adjust the number of shares reserved for issuance pursuant to Culp, Inc. 2007 Equity Incentive
Plan as a result of a stock split, stock dividend or similar adjustment of the outstanding common
stock of the Registrant.</DIV></TD>
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<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

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    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Estimated in accordance with Rule 457(c) and Rule 457(h) of the Securities Act, calculated on
the basis of $9.02 per share, the average of the high and low share prices of the Registrant&#146;s
common stock on the New York Stock Exchange on November&nbsp;23, 2007. In addition, pursuant to Rule
457(p) under the Securities Act, the Registrant hereby offsets the registration fee required in
connection with the Registration Statement by $280.87 previously paid by the Registrant in
connection with the registration of 1,000,000 shares of common stock pursuant to the Registration
Statement on Form S-8 (Registration No.&nbsp;333-101805) filed with the Securities and Exchange
Commission on December&nbsp;12, 2002, 332,750 of which shares have not been issued or reserved for
issuance and have been or will be deregistered pursuant to a post-effective amendment to such
registration statement filed on the date hereof. Accordingly, a filing fee of $53.00 is being paid
in connection herewith.</DIV></TD>
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<TR><TD colspan="9"><A HREF="#000">PART I INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;5. Interests of Named Experts And Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="g10817exv5w1.htm">EX-5.1 OPINION OF ROBINSON, BRADSHAW & HINSON, P.A.</A></TD></TR>
<TR><TD colspan="9"><A HREF="g10817exv23w2.htm">EX-23.2 CONSENT OF KPMG LLP</A></TD></TR>
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<!-- link1 "PART I INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I<BR>
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Note: The document containing the information specified in Part&nbsp;I of Form S-8 will be sent or
given to participants in the Culp, Inc. 2007 Equity Incentive Plan, as specified by Rule&nbsp;428(b)(1)
promulgated by the Securities and Exchange Commission (the &#147;Commission&#148;) under the Securities Act
of 1933. In accordance with Rule&nbsp;428 and the requirements of Part&nbsp;I of Form S-8, such documents
are not being filed with the Commission either as part of this Registration Statement or as
prospectuses or prospectus supplements pursuant to Rule&nbsp;424 under the Securities Act. Culp, Inc.
(the &#147;Company&#148;) will maintain a file of such documents in accordance with the provisions of Rule
428. Upon request, the Company will furnish to the Commission or its staff a copy or copies of all
of the documents included in such file.
</DIV>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>

<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents previously filed with the Commission by the Company are incorporated
by reference into this Registration Statement:
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;the Company&#146;s Annual Report on Form 10-K for the fiscal year ended April&nbsp;29, 2007;
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;the Company&#146;s Quarterly Report on Form 10-Q for the fiscal quarter ended July&nbsp;29, 2007;
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;the Company&#146;s Current Reports on Form 8-K filed on June&nbsp;19, 2007, June&nbsp;25, 2007, June
29, 2007, August&nbsp;28, 2007, September&nbsp;24, 2007, September&nbsp;27, 2007, September&nbsp;27, 2007 and November
13, 2007;
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;the description of the Company&#146;s common stock, par value $0.05 per share, contained in the
Company&#146;s registration statements filed pursuant to Section&nbsp;12 of the Securities Exchange Act of
1934, as amended (the &#147;Exchange Act&#148;) including any amendment or report filed for the purpose of
updating such descriptions; and
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;any other reports filed by the Company pursuant to Section 13(a) or 15(d) of the Exchange
Act since April&nbsp;29, 2007.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents subsequently filed by the Company with the Commission pursuant to Section&nbsp;13(a),
13(c), 14 and 15(d) of the Exchange Act after the date of this Registration Statement and prior to
the filing of a post-effective amendment which indicates that all securities offered by this
registration statement have been sold or that deregisters all securities then remaining unsold
shall be deemed incorporated by reference into this Registration Statement to be a part hereof from
the date of the filing of such documents.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained in the documents incorporated, or deemed to be incorporated, by
reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein or in any other subsequently filed
document that also is, or is deemed to be, incorporated by reference herein modifies or supersedes
such statement. Any such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.
</DIV>
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<DIV align="justify" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities</B>.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
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<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts And Counsel.</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robinson, Bradshaw &#038; Hinson, P.A., Charlotte, North Carolina, will give an opinion about the
legality of the securities registered by the Registration Statement. As of November&nbsp;26, 2007,
members of Robinson, Bradshaw
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&#038; Hinson, P.A. beneficially owned less than 1% of the Company&#146;s common stock. Henry R.
Ralston, an Assistant Secretary of the Company, is a member of Robinson, Bradshaw &#038; Hinson, P.A.
</DIV>

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<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;55-2-02 of the North Carolina Business Corporation Act (the &#147;North Carolina Act&#148;)
enables a corporation in its articles of incorporation to eliminate or limit, with certain
exceptions, the personal liability of directors for monetary damages for breach of their duties as
directors. No such provision is effective to eliminate or limit a director&#146;s liability for: (i)
acts or omissions that the director at the time of the breach knew or believed to be clearly in
conflict with the best interests of the corporation; (ii)&nbsp;improper distributions as described in
Section&nbsp;55-8-33 of the North Carolina Act; (iii)&nbsp;any transaction from which the director derived an
improper personal benefit; or (iv)&nbsp;acts or omissions occurring prior to the date the exculpatory
provision became effective. The Company&#146;s articles of incorporation, as amended, limit the
personal liability of its directors to the fullest extent permitted by the North Carolina Act, as
amended from time to time. Any repeal or modification of this provision by the Company&#146;s
shareholders will not adversely affect any limitation on the personal liability of a director of
the Company existing at the time of the repeal or modification.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sections&nbsp;55-8-50 through 55-8-58 of the North Carolina Act permit a corporation to indemnify
its directors, officers, employees or agents under either or both a statutory or nonstatutory
scheme of indemnification. Under the statutory scheme, a corporation may, with certain exceptions,
indemnify a director of the corporation who was, is, or is threatened to be made, a party to any
threatened, pending or completed legal action, suit or proceeding, whether civil, criminal,
administrative, or investigative because of the fact that such person was or is a director of the
corporation, or is or was serving at the request of such corporation as a director of another
corporation or enterprise. This indemnity may include the obligation to pay any judgment,
settlement, penalty, fine (including an excise tax assessed with respect to an employee benefit
plan) or reasonable expenses incurred in connection with a proceeding (including counsel fees), but
no such indemnification may be granted unless such director (i)&nbsp;conducted himself in good faith,
(ii)&nbsp;reasonably believed (a)&nbsp;that any action taken in his official capacity with the corporation
was in the best interests of the corporation or (b)&nbsp;that in all other cases his conduct was not
opposed to the corporation&#146;s best interests, and (iii)&nbsp;in the case of any criminal proceeding, had
no reasonable cause to believe his conduct was unlawful. Whether a director has met the requisite
standard of conduct for the type of indemnification set forth above is determined by a majority
vote of a quorum of the board of directors (excluding any director party to the proceeding at
question), a committee of directors, special legal counsel or the shareholders in accordance with
Section&nbsp;55-8-55 of the North Carolina Act. Under the statutory scheme, a corporation may not
indemnify a director in connection with a proceeding by or in the right of the corporation in which
a director was adjudged liable to the corporation or in connection with any other proceeding in
which a director was adjudged liable on the basis of having received an improper personal benefit.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sections&nbsp;55-8-52 and 55-8-56 of the North Carolina Act require a corporation, unless its
articles of incorporation provide otherwise, to indemnify a director or officer who has been wholly
successful, on the merits or otherwise, in the defense of any proceeding to which such director or
officer was, or was threatened to be, made a party because he is or was a director or officer of
the corporation. Unless prohibited by the articles of incorporation, a director or officer also
may make application and obtain court-ordered indemnification if the court determines that such
director or officer is entitled to mandatory indemnification under Section&nbsp;55-8-52 of the North
Carolina Act or is fairly and reasonably entitled to indemnification in view of all the relevant
circumstances.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to, and notwithstanding the conditions of and limitations on, the indemnification
described above under the statutory scheme, Section&nbsp;55-8-57 of the North Carolina Act permits a
corporation, in its articles of incorporation or bylaws, by contract or by resolution, to
indemnify, or agree to indemnify, any of its directors, officers, employees or agents against
liability and expenses (including counsel fees) in any proceeding (including proceedings brought by
or on behalf of the corporation) arising out of their status as such or their activities in such
capacities, except for any liabilities or expenses incurred on account of activities that were, at
the time taken, known or believed by the person to be clearly in conflict with the best interests
of the corporation.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, Section&nbsp;55-8-57 of the North Carolina Act authorizes a corporation to purchase
and maintain insurance on behalf of an individual who is or was a director, officer, employee or
agent of the corporation against
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">certain liabilities incurred by such a person, whether or not the corporation is otherwise
authorized by the North Carolina Act to indemnify that person. The Company has purchased and
maintains such insurance.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s restated and amended bylaws provide that the Company shall indemnify and hold
harmless any person who at any time serves or has served as a director of the Company to the
fullest extent from time to time permitted by law in the event such person is made, or threatened
to be made, a party to any pending, threatened or completed civil, criminal, administrative,
investigative or arbitrative action, suit or proceeding, and any appeal therein (and any inquiry or
investigation that could lead to such action, suit or proceeding), whether or not brought by or on
behalf of the Company, by reason of the fact that he is or was a director, officer, employee or
agent of the Company or serves or served any other enterprise as a director, officer, employee or
agent at the request of the Company. The rights of any director or former director cover all
liability and expense (including attorneys&#146; fees), to the fullest extent from time to time
permitted by law, and include the advancement of expenses. The Company&#146;s bylaws do not require the
Company to indemnify a director or former director for amounts paid in settlement without the
Company&#146;s written consent, which consent the Company may not unreasonably withhold. The bylaws
also state that the rights of indemnification and reimbursement are not exclusive of other rights
to which the director or former director may be entitled under any statute, agreement, insurance
policy or otherwise. Upon the death of the director or former director, the bylaws extend the
rights of indemnification and reimbursement to such director&#146;s legal representative.
</DIV>
<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See the Exhibit&nbsp;Index.
</DIV>
<!-- link2 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Company hereby undertakes:
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">to include any prospectus required by
Section&nbsp;10(a)(3) of the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;);</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">to reflect in the prospectus any
facts or events arising after the effective date of this
registration statement (or the most recent post-effective
amendment hereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in
this registration statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if,
in the aggregate, the changes in volume and price represent no
more than a 20% change in the maximum aggregate offering price set
forth in the &#147;Calculation of Registration Fee&#148; table in the
effective registration statement; and</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">to include any material information
with respect to the plan of distribution not previously disclosed
in this registration statement or any material change to such
information in this registration statement;</DIV></TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="justify" style="font-size: 10pt; margin-top: 6pt"><I>provided</I>, <I>however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in reports
filed with or furnished to the Commission by the registrant pursuant to Section&nbsp;13 or Section 15(d)
of the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;) that are incorporated by reference in
this Registration Statement.
</DIV>



<DIV align="justify" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial <I>bona fide </I>offering thereof.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Company hereby undertakes that, for purposes of determining any liability under the
Securities Act, each filing of the registrant&#146;s annual report pursuant to Section 13(a) or 15(d) of
the Exchange Act (and, where applicable, each filing of an employee benefit plan&#146;s annual report
pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this
registration statement shall be deemed to be a new registration statement relating to the
securities offered herein, and the offering of such securities at that time shall be deemed to be
the initial <I>bona fide </I>offering thereof.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Company hereby undertakes that insofar as indemnification for liabilities arising
under the Securities Act may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that
in the opinion of the Commission such indemnification is against public policy as expressed in the
Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by
a director, officer or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Securities Act and will be governed by the final adjudication of such issue.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Company certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of High Point, State of North Carolina
on this 27th day of November,
2007.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">CULP, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Franklin N. Saxon
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Franklin N. Saxon&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWER OF ATTORNEY</B>
</DIV>



<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the undersigned hereby constitutes and appoints Franklin N. Saxon and Kenneth R.
Bowling, and each of them, with full power to act without the other and with full power of
substitution and resubstitution, his true and lawful attorneys-in-fact and agents, for him and in
his name, place, and stead, in any and all capacities, to sign on his behalf any and all amendments
(including post-effective amendments and amendments thereto) to this registration statement and any
related registration statement (and any amendments thereto) filed pursuant to Rule 462(b) under the
Securities Act, and to file the same, with all exhibits thereto and other documents in connection
therewith, with the Commission, and grants unto said attorneys-in-fact and agents, and each of
them, full power and authority to do and perform each and every act and thing requisite and
necessary to be done in and about the premises as fully as to all intents and purposes as he might
or could do in person, and hereby ratifies and confirms all that such attorneys-in-fact or agents,
or any of them, or their substitutes shall lawfully do or cause to be done by virtue hereof.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this registration statement has
been signed by the following persons in the capacities and on the dates indicated.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Franklin N. Saxon
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President and Chief Executive Officer, Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;27, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Franklin N. Saxon
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Kenneth R. Bowling
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;27, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Kenneth R. Bowling
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Thomas B. Gallagher, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Corporate Controller (chief accounting officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;27, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Thomas B. Gallagher, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Robert G. Culp, III
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board of Directors
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;27, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Robert G. Culp, III
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Patrick B. Flavin
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;27, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Patrick B. Flavin
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Kenneth R. Larson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;27, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Kenneth R. Larson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Kenneth W. McAllister
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;27, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Kenneth W. McAllister
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="010"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">EXHIBIT NO.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">DESCRIPTION</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><div align="justify">Registration Rights and Shareholder Agreement, filed as Exhibit&nbsp;10.1 to the
Company&#146;s Current Report on Form&nbsp;8-K filed January&nbsp;26, 2007, is incorporated
herein by reference.</div></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><div align="justify">Rights Agreement, dated as of October&nbsp;8, 1999, between the Company and EquiServe
Trust Company, N.A., as Rights Agent, including the form of Articles of Amendment
with respect to the Series&nbsp;A Participating Preferred Stock included as Exhibit&nbsp;A
to the Rights Agreement, the form of Rights Certificate, included as Exhibit&nbsp;B to
the Rights Agreement, and the form of Summary of Rights included as Exhibit&nbsp;C to
the Rights Agreement. The Rights Agreement was filed as Exhibit&nbsp;99.1 to the
Company&#146;s Current Report on Form&nbsp;8-K dated October&nbsp;12, 1999, and is incorporated
herein by reference.</div></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><div align="justify">Opinion of Robinson, Bradshaw &#038; Hinson, P.A.</div></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
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    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><div align="justify">Consent of Robinson, Bradshaw &#038; Hinson, P.A. (included in Exhibit&nbsp;5.1)</div></TD>
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    <TD align="left" valign="top"><div align="justify">Consent of KPMG LLP</div></TD>
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</DIV></TD>
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    <TD align="left" valign="top"><div align="justify">Powers of
Attorney (included on the signature page of the Registration Statement).</div></TD>
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CULP, INC.
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933
CULP, INC.
(Exact name of Registrant, as Specified in Its Charter)
North Carolina
56-1001967
(State or Other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer)
Identification No.)
1823 Eastchester Drive, High Point, North Carolina 27265
(Address of Principal Executive Offices)
Culp Inc. 2007 Equity Incentive Plan
(Full Title of the Plan)
Franklin N. Saxon
Culp, Inc.
1823 Eastchester Drive
Post Office Box 2686
High Point, North Carolina 27265
(Name and Address of Agent For Service)
(336) 889-5161
(Telephone Number, Including Area Code, of Agent for Service)
Copy to:
Henry H. Ralston
Robinson, Bradshaw & Hinson, P.A.
101 North Tryon Street, Suite 1900
Charlotte, North Carolina 28246
(704) 377-2536
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Amount Of
Title of Each Class of Securities
Amount To Be
Offering Price Per
Aggregate Offering
Registration
To Be Registered
Registered
Unit
Price
Fee
Common Stock, $0.05 par value per share (including
1,200,000
(2)
$9.02
$10,824,000
$333.00
(3)
associated
rights for purchase of Series A
Participating Preferred
Shares)
(1)
(1)
Each share of common stock offered hereby will have one associated right for the purchase of
the Registrant's Series A Participating Preferred Shares pursuant to the Rights Agreement, dated as
of October 8, 1999, between the Registrant and the EquiServe Trust Company, N.A., as rights agent.
(2)
Pursuant to Rule 416 under the Securities Act of 1933, as amended, this Registration Statement
also relates to an indeterminate number of additional shares of common stock that may be necessary
to adjust the number of shares reserved for issuance pursuant to Culp, Inc. 2007 Equity Incentive
Plan as a result of a stock split, stock dividend or similar adjustment of the outstanding common
stock of the Registrant.
(3)
Estimated in accordance with Rule 457(c) and Rule 457(h) of the Securities Act, calculated on
the basis of $9.02 per share, the average of the high and low share prices of the Registrant's
common stock on the New York Stock Exchange on November 23, 2007. In addition, pursuant to Rule
457(p) under the Securities Act, the Registrant hereby offsets the registration fee required in
connection with the Registration Statement by $280.87 previously paid by the Registrant in
connection with the registration of 1,000,000 shares of common stock pursuant to the Registration
Statement on Form S-8 (Registration No. 333-101805) filed with the Securities and Exchange
Commission on December 12, 2002, 332,750 of which shares have not been issued or reserved for
issuance and have been or will be deregistered pursuant to a post-effective amendment to such
registration statement filed on the date hereof. Accordingly, a filing fee of $53.00 is being paid
in connection herewith.
TABLE OF CONTENTS
PART I INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference
Item 4. Description of Securities
Item 5. Interests of Named Experts And Counsel
Item 6. Indemnification of Directors and Officers
Item 7. Exemption from Registration Claimed
Item 8. Exhibits
Item 9. Undertakings
SIGNATURES
EXHIBIT INDEX
EX-5.1 OPINION OF ROBINSON, BRADSHAW & HINSON, P.A.
EX-23.2 CONSENT OF KPMG LLP
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Note: The document containing the information specified in Part I of Form S-8 will be sent or
given to participants in the Culp, Inc. 2007 Equity Incentive Plan, as specified by Rule 428(b)(1)
promulgated by the Securities and Exchange Commission (the "Commission") under the Securities Act
of 1933. In accordance with Rule 428 and the requirements of Part I of Form S-8, such documents
are not being filed with the Commission either as part of this Registration Statement or as
prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. Culp, Inc.
(the "Company") will maintain a file of such documents in accordance with the provisions of Rule
428. Upon request, the Company will furnish to the Commission or its staff a copy or copies of all
of the documents included in such file.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents previously filed with the Commission by the Company are incorporated
by reference into this Registration Statement:
(a) the Company's Annual Report on Form 10-K for the fiscal year ended April 29, 2007;
(b) the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended July 29, 2007;
(c) the Company's Current Reports on Form 8-K filed on June 19, 2007, June 25, 2007, June
29, 2007, August 28, 2007, September 24, 2007, September 27, 2007, September 27, 2007 and November
13, 2007;
(d) the description of the Company's common stock, par value $0.05 per share, contained in the
Company's registration statements filed pursuant to Section 12 of the Securities Exchange Act of
1934, as amended (the "Exchange Act") including any amendment or report filed for the purpose of
updating such descriptions; and
(e) any other reports filed by the Company pursuant to Section 13(a) or 15(d) of the Exchange
Act since April 29, 2007.
All documents subsequently filed by the Company with the Commission pursuant to Section 13(a),
13(c), 14 and 15(d) of the Exchange Act after the date of this Registration Statement and prior to
the filing of a post-effective amendment which indicates that all securities offered by this
registration statement have been sold or that deregisters all securities then remaining unsold
shall be deemed incorporated by reference into this Registration Statement to be a part hereof from
the date of the filing of such documents.
Any statement contained in the documents incorporated, or deemed to be incorporated, by
reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein or in any other subsequently filed
document that also is, or is deemed to be, incorporated by reference herein modifies or supersedes
such statement. Any such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities
.
Not applicable.
Item 5. Interests of Named Experts And Counsel.
Robinson, Bradshaw & Hinson, P.A., Charlotte, North Carolina, will give an opinion about the
legality of the securities registered by the Registration Statement. As of November 26, 2007,
members of Robinson, Bradshaw
2
Table of Contents
& Hinson, P.A. beneficially owned less than 1% of the Company's common stock. Henry R.
Ralston, an Assistant Secretary of the Company, is a member of Robinson, Bradshaw & Hinson, P.A.
Item 6. Indemnification of Directors and Officers.
Section 55-2-02 of the North Carolina Business Corporation Act (the "North Carolina Act")
enables a corporation in its articles of incorporation to eliminate or limit, with certain
exceptions, the personal liability of directors for monetary damages for breach of their duties as
directors. No such provision is effective to eliminate or limit a director's liability for: (i)
acts or omissions that the director at the time of the breach knew or believed to be clearly in
conflict with the best interests of the corporation; (ii) improper distributions as described in
Section 55-8-33 of the North Carolina Act; (iii) any transaction from which the director derived an
improper personal benefit; or (iv) acts or omissions occurring prior to the date the exculpatory
provision became effective. The Company's articles of incorporation, as amended, limit the
personal liability of its directors to the fullest extent permitted by the North Carolina Act, as
amended from time to time. Any repeal or modification of this provision by the Company's
shareholders will not adversely affect any limitation on the personal liability of a director of
the Company existing at the time of the repeal or modification.
Sections 55-8-50 through 55-8-58 of the North Carolina Act permit a corporation to indemnify
its directors, officers, employees or agents under either or both a statutory or nonstatutory
scheme of indemnification. Under the statutory scheme, a corporation may, with certain exceptions,
indemnify a director of the corporation who was, is, or is threatened to be made, a party to any
threatened, pending or completed legal action, suit or proceeding, whether civil, criminal,
administrative, or investigative because of the fact that such person was or is a director of the
corporation, or is or was serving at the request of such corporation as a director of another
corporation or enterprise. This indemnity may include the obligation to pay any judgment,
settlement, penalty, fine (including an excise tax assessed with respect to an employee benefit
plan) or reasonable expenses incurred in connection with a proceeding (including counsel fees), but
no such indemnification may be granted unless such director (i) conducted himself in good faith,
(ii) reasonably believed (a) that any action taken in his official capacity with the corporation
was in the best interests of the corporation or (b) that in all other cases his conduct was not
opposed to the corporation's best interests, and (iii) in the case of any criminal proceeding, had
no reasonable cause to believe his conduct was unlawful. Whether a director has met the requisite
standard of conduct for the type of indemnification set forth above is determined by a majority
vote of a quorum of the board of directors (excluding any director party to the proceeding at
question), a committee of directors, special legal counsel or the shareholders in accordance with
Section 55-8-55 of the North Carolina Act. Under the statutory scheme, a corporation may not
indemnify a director in connection with a proceeding by or in the right of the corporation in which
a director was adjudged liable to the corporation or in connection with any other proceeding in
which a director was adjudged liable on the basis of having received an improper personal benefit.
Sections 55-8-52 and 55-8-56 of the North Carolina Act require a corporation, unless its
articles of incorporation provide otherwise, to indemnify a director or officer who has been wholly
successful, on the merits or otherwise, in the defense of any proceeding to which such director or
officer was, or was threatened to be, made a party because he is or was a director or officer of
the corporation. Unless prohibited by the articles of incorporation, a director or officer also
may make application and obtain court-ordered indemnification if the court determines that such
director or officer is entitled to mandatory indemnification under Section 55-8-52 of the North
Carolina Act or is fairly and reasonably entitled to indemnification in view of all the relevant
circumstances.
In addition to, and notwithstanding the conditions of and limitations on, the indemnification
described above under the statutory scheme, Section 55-8-57 of the North Carolina Act permits a
corporation, in its articles of incorporation or bylaws, by contract or by resolution, to
indemnify, or agree to indemnify, any of its directors, officers, employees or agents against
liability and expenses (including counsel fees) in any proceeding (including proceedings brought by
or on behalf of the corporation) arising out of their status as such or their activities in such
capacities, except for any liabilities or expenses incurred on account of activities that were, at
the time taken, known or believed by the person to be clearly in conflict with the best interests
of the corporation.
In addition, Section 55-8-57 of the North Carolina Act authorizes a corporation to purchase
and maintain insurance on behalf of an individual who is or was a director, officer, employee or
agent of the corporation against
3
Table of Contents
certain liabilities incurred by such a person, whether or not the corporation is otherwise
authorized by the North Carolina Act to indemnify that person. The Company has purchased and
maintains such insurance.
The Company's restated and amended bylaws provide that the Company shall indemnify and hold
harmless any person who at any time serves or has served as a director of the Company to the
fullest extent from time to time permitted by law in the event such person is made, or threatened
to be made, a party to any pending, threatened or completed civil, criminal, administrative,
investigative or arbitrative action, suit or proceeding, and any appeal therein (and any inquiry or
investigation that could lead to such action, suit or proceeding), whether or not brought by or on
behalf of the Company, by reason of the fact that he is or was a director, officer, employee or
agent of the Company or serves or served any other enterprise as a director, officer, employee or
agent at the request of the Company. The rights of any director or former director cover all
liability and expense (including attorneys' fees), to the fullest extent from time to time
permitted by law, and include the advancement of expenses. The Company's bylaws do not require the
Company to indemnify a director or former director for amounts paid in settlement without the
Company's written consent, which consent the Company may not unreasonably withhold. The bylaws
also state that the rights of indemnification and reimbursement are not exclusive of other rights
to which the director or former director may be entitled under any statute, agreement, insurance
policy or otherwise. Upon the death of the director or former director, the bylaws extend the
rights of indemnification and reimbursement to such director's legal representative.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
See the Exhibit Index.
Item 9. Undertakings.
(a) The Company hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:
(i)
to include any prospectus required by
Section 10(a)(3) of the Securities Act of 1933, as amended (the
"Securities Act");
(ii)
to reflect in the prospectus any
facts or events arising after the effective date of this
registration statement (or the most recent post-effective
amendment hereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in
this registration statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if,
in the aggregate, the changes in volume and price represent no
more than a 20% change in the maximum aggregate offering price set
forth in the "Calculation of Registration Fee" table in the
effective registration statement; and
(iii)
to include any material information
with respect to the plan of distribution not previously disclosed
in this registration statement or any material change to such
information in this registration statement;
4
Table of Contents
provided
,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in reports
filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934 (the "Exchange Act") that are incorporated by reference in
this Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial
bona fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
(b) The Company hereby undertakes that, for purposes of determining any liability under the
Securities Act, each filing of the registrant's annual report pursuant to Section 13(a) or 15(d) of
the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report
pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this
registration statement shall be deemed to be a new registration statement relating to the
securities offered herein, and the offering of such securities at that time shall be deemed to be
the initial
bona fide
offering thereof.
(c) The Company hereby undertakes that insofar as indemnification for liabilities arising
under the Securities Act may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that
in the opinion of the Commission such indemnification is against public policy as expressed in the
Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by
a director, officer or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Securities Act and will be governed by the final adjudication of such issue.
5
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Company certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of High Point, State of North Carolina
on this 27th day of November,
2007.
CULP, INC.
By:
/s/ Franklin N. Saxon
Franklin N. Saxon
President and Chief Executive Officer
POWER OF ATTORNEY
Each of the undersigned hereby constitutes and appoints Franklin N. Saxon and Kenneth R.
Bowling, and each of them, with full power to act without the other and with full power of
substitution and resubstitution, his true and lawful attorneys-in-fact and agents, for him and in
his name, place, and stead, in any and all capacities, to sign on his behalf any and all amendments
(including post-effective amendments and amendments thereto) to this registration statement and any
related registration statement (and any amendments thereto) filed pursuant to Rule 462(b) under the
Securities Act, and to file the same, with all exhibits thereto and other documents in connection
therewith, with the Commission, and grants unto said attorneys-in-fact and agents, and each of
them, full power and authority to do and perform each and every act and thing requisite and
necessary to be done in and about the premises as fully as to all intents and purposes as he might
or could do in person, and hereby ratifies and confirms all that such attorneys-in-fact or agents,
or any of them, or their substitutes shall lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has
been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ Franklin N. Saxon
President and Chief Executive Officer, Director
November 27, 2007
Franklin N. Saxon
/s/ Kenneth R. Bowling
Chief Financial Officer
November 27, 2007
Kenneth R. Bowling
/s/ Thomas B. Gallagher, Jr.
Corporate Controller (chief accounting officer)
November 27, 2007
Thomas B. Gallagher, Jr.
/s/ Robert G. Culp, III
Chairman of the Board of Directors
November 27, 2007
Robert G. Culp, III
/s/ Patrick B. Flavin
Director
November 27, 2007
Patrick B. Flavin
/s/ Kenneth R. Larson
Director
November 27, 2007
Kenneth R. Larson
/s/ Kenneth W. McAllister
Director
November 27, 2007
Kenneth W. McAllister
6
Table of Contents
EXHIBIT INDEX
EXHIBIT NO.
DESCRIPTION
4.1
Registration Rights and Shareholder Agreement, filed as Exhibit 10.1 to the
Company's Current Report on Form 8-K filed January 26, 2007, is incorporated
herein by reference.
4.2
Rights Agreement, dated as of October 8, 1999, between the Company and EquiServe
Trust Company, N.A., as Rights Agent, including the form of Articles of Amendment
with respect to the Series A Participating Preferred Stock included as Exhibit A
to the Rights Agreement, the form of Rights Certificate, included as Exhibit B to
the Rights Agreement, and the form of Summary of Rights included as Exhibit C to
the Rights Agreement. The Rights Agreement was filed as Exhibit 99.1 to the
Company's Current Report on Form 8-K dated October 12, 1999, and is incorporated
herein by reference.
5.1*
Opinion of Robinson, Bradshaw & Hinson, P.A.
23.1*
Consent of Robinson, Bradshaw & Hinson, P.A. (included in Exhibit 5.1)
23.2*
Consent of KPMG LLP
24.1*
Powers of
Attorney (included on the signature page of the Registration Statement).
* Filed herewith
7