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AND EXCHANGE COMMISSION</font></div>
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D.C. 20549</font></div>
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8-K</font></div>
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REPORT</font></div>
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TO SECTION 13 OR 15(d) OF THE</font></div>
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EXCHANGE ACT OF 1934</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
Report (date of earliest event reported):&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">February 19,
2009</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">CRACKER
BARREL OLD COUNTRY STORE, INC.</font></div>
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      Employer </font></td>
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            <td width="33%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Identification
      No.)</font></td>
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    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
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Hartmann Drive, Lebanon, Tennessee 37087</font></div>
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444-5533</font></div>
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appropriate box if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following
provisions:</font><br></div>
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1.01.&#160;&#160;Entry into a Material Definitive Agreement</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Employment
Agreement</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On March 11, 2009, Cracker Barrel Old
Country Store, Inc. (the &#8220;Company&#8221;) and Sandra B. Cochran entered into an
employment agreement (the &#8220;Agreement&#8221;) whereby Ms. Cochran will serve as the
Company&#8217;s Executive Vice President and Chief Financial Officer, with a start
date not later than April 6, 2009 (the &#8220;Start Date&#8221;).&#160;&#160;Unless extended
or earlier terminated, the Agreement, which is summarized below, will expire two
(2) years from the Start Date.&#160;&#160;The initial two-year term will be
automatically extended for one year unless either Ms. Cochran or the Company
gives notice of non-extension.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The Agreement requires the Company to
pay Ms. Cochran a base salary of $500,000, which may be increased from time to
time (&#8220;Base Salary&#8221;), and an annual bonus with a target of 100% of Base
Salary.&#160;&#160;Reference is made to the Item 5.02 of the Company&#8217;s Current
Report on Form 8-K dated July 31, 2008 and filed with the Commission on August
6, 2008, which is incorporated herein by this reference, for additional
information on the Company&#8217;s annual bonus plan.&#160;&#160;Additionally, with
respect to awards under the Company&#8217;s long-term incentive plan (the &#8220;LTI&#8221;), Ms.
Cochran&#8217;s target percentage is 175% of Base Salary.&#160;&#160;Reference is made
to the Item 5.02 of the Company&#8217;s Current Report on Form 8-K dated September 25,
2008 and filed with the Commission on October 1, 2008, which is incorporated
herein by this reference, for additional information on the
LTI.&#160;&#160;Neither the annual bonus nor the LTI is a guarantee but is
subject to satisfaction of such performance and other criteria as may be
established by the Compensation Committee (the &#8220;Compensation Committee&#8221;) of the
Company&#8217;s Board of Directors (the &#8220;Board&#8221;).&#160;&#160;Ms. Cochran&#8217;s annual
bonus and the amount, if any, payable under the LTI each will be prorated based
upon the number of days during the performance period that Ms. Cochran is
employed by the Company.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The Agreement provides that Ms. Cochran
is entitled to participate in the Company&#8217;s welfare benefit plans, practices,
policies and programs to the extent applicable generally to other senior
executives.&#160;&#160;The Agreement provides for Ms. Cochran to receive a
restricted stock grant of 25,000 shares (the &#8220;Restricted Shares&#8221;) of the
Company&#8217;s $0.01 par value common stock (the &#8220;Shares&#8221;), 8,334 of which vest on
the second anniversary of the Start Date, and 16,666 of which vest on the third
anniversary of the Start Date.&#160;&#160;The Agreement also provides for Ms.
Cochran to receive options to purchase 25,000 Shares at an exercise price equal
to the closing price of the Shares on March 11, 2009 (date of execution of
Agreement), which vest ratably over a three year period.&#160;&#160;In addition,
Ms. Cochran will receive a $50,000 payment within 10 days after the Start
Date.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The Agreement may be terminated at any
time by the Company without any liability under the following conditions, each
of which constitutes &#8220;Cause&#8221;: (a) fraud or breach by Ms. Cochran of securities
laws or other willful or grossly negligent acts </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">resulting
in investigation by the Securities and Exchange Commission that adversely
affects the Company or Ms. Cochran's ability to perform her duties, (b)
attending work in a state of intoxication or otherwise being found in possession
at work of any prohibited drug or substance, (c) personal dishonesty or willful
misconduct in connection with her duties, (d) breach of fiduciary duty to the
Company involving personal profit, (e) conviction of a felony or a crime
involving moral turpitude, (f) material intentional breach by Ms. Cochran of any
provision of the Agreement or any other Company policy adopted by the Board, or
(g) continued failure to perform duties after a written demand from the
Board.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="FONT-SIZE: 10pt; MARGIN-LEFT: 36pt; FONT-FAMILY: Times New Roman"></font>&#160;&#160;
If the Company terminates the Agreement other than for Cause, the Company is
required to pay Ms. Cochran, in addition to any amounts owed through the date of
termination of employment, including any amounts payable under any then existing
incentive or bonus plan applicable to Ms. Cochran (the &#8220;Accrued Obligations&#8221;),
one and one-half times her annual Base Salary payable over eighteen months;
provided, however, that if the termination is due solely to Ms. Cochran&#8217;s having
given notice of non-extension of the original two-year term, then, in addition
to the Accrued Obligations, an amount equal to her annual Base Salary payable
over twelve months.&#160;&#160;If Ms. Cochran elects to continue to participate
in the Company&#8217;s medical insurance program, the Company is required to pay to
Ms. Cochran for a twelve month period an amount equal to the difference between:
(a) the monthly premium cost under COBRA of such participation; and (b) the
monthly premium cost of such participation at the time of Executive&#8217;s
termination of employment.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>&#160; If Ms. Cochran dies during the
term of the Agreement, the Company is required to pay to Ms. Cochran's estate
the Accrued Obligations.&#160;&#160;If Ms. Cochran becomes disabled during the
term of the Agreement, the Company may terminate Ms. Cochran's
employment.&#160;&#160;In such event, the Company is required to pay Ms. Cochran
the Accrued Obligations.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160; </font>Ms. Cochran may also terminate her
employment for no reason or Good Reason (as defined below).&#160;&#160;If Ms.
Cochran terminates her employment without Good Reason, the Agreement terminates
without further obligation to Ms. Cochran, other than for payment of the Accrued
Obligations.&#160;&#160;If Ms. Cochran terminates her employment for Good
Reason, she is entitled to the same benefits she would have received if
terminated by the Company without Cause.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160; </font>The following factors constitute &#8220;Good
Reason&#8221;: (a) assignment of duties inconsistent in any material respect with Ms.
Cochran's position, authority, duties or responsibilities or demonstrable
diminution in Ms. Cochran's position, authority, duties or responsibilities
(excluding insubstantial and inadvertent actions remedied promptly after receipt
of notice), (b) certain reductions in Base Salary, (c) certain reductions in the
target bonus (expressed as a percentage of Base Salary), (d) requiring Ms.
Cochran to be based in any office or location more than 50 miles from the
Company's current headquarters, (e) the Company giving notice of non-extension
of the original two-year term, (f)
material&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">breach by the Company of
the Agreement, or (g) failure of any successor company to assume expressly and
agree to perform the Agreement.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Agreement contains
certain business protection provisions that include a requirement that Ms.
Cochran not disclose confidential information or trade secrets of the Company
and a requirement that, during the term of the Agreement and for eighteen months
following its termination, Ms. Cochran will neither solicit employees of the
Company to leave their employment nor hold any position with any entity engaged
wholly or in material part in the restaurant or retail business that is similar
to that in which the Company or any of its affiliates is
engaged.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Employee
Retention Agreement</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Agreement contemplates
that simultaneously with its execution, Ms. Cochran will enter into the
Company&#8217;s Standard Employee Retention Agreement (a &#8220;Change in Control
Agreement&#8221;).&#160;&#160;In the event of the termination of Ms. Cochran&#8217;s
employment after a change in control, her benefits shall be determined by
reference to the Change in Control Agreement and not to the terms and conditions
of the Agreement.&#160;&#160;Ms. Cochran&#8217;s Change in Control Agreement is filed
as Exhibit 99.1 to this Current Report on Form 8-K.&#160;&#160;The Change in
Control Agreement provides that Ms. Cochran will receive specified benefits if,
after a &#8220;change in control&#8221; of the Company there is: (1) a material change in
duties or responsibilities resulting in the assignment of duties and
responsibilities inferior to the duties and responsibilities in effect at the
time of change in control, (2) a reduction in salary or a material change in
benefits (excluding discretionary bonuses), or (3) a change in the location of
work assignments from the location at the time of change in control to any other
location that is further than 50 miles away from the location at the time of
change in control.&#160;&#160;The salary payments will equal 2.99 times the
average salary and bonus for the 3 years prior to a change in control
(including, when required, a gross-up payment to cover excise taxes), and
benefits will include continuation of and payments for health benefits for a
2-year period.&#160;&#160;The Change in Control Agreement defines &#8220;change in
control&#8221; to include certain circumstances in which a person becomes the
beneficial owner of securities representing 20% or more of the combined voting
power of the Shares, a majority of the Board changes within a 2-year period, the
Company merges, consolidates or reorganizes, or in the event of a sale of all or
substantially all of the Company&#8217;s assets.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
foregoing is only a summary of the Change in Control Agreement and is qualified
in its entirety by reference to the agreement incorporated by reference as
Exhibit 99.1.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div style="WIDTH: 100%" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        </div>
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">4&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
5.02.&#160;&#160;Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 1.01
of this Current Report on Form 8-K is incorporated herein by this
reference.&#160;&#160;On February 19, 2009, the Board elected Ms. Cochran to
serve as the Company&#8217;s Executive Vice President and Chief Financial Officer,
contingent upon the approval of her compensation arrangements by the
Compensation Committee and the final negotiation and execution and delivery by
her of the Agreement referenced in Item 1.01.&#160;&#160;In accordance with the
Instruction paragraph (c) to Item 5.02 of Form 8-K, the Company delayed filing
this Current Report on Form 8-K until the issuance of the press release
referenced in Item 7.01 of, and furnished as Exhibit 99.2 to, this Current
Report on Form 8-K announcing Ms. Cochran&#8217;s appointment.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ms.
Cochran, age 50, has served as Chief Executive Officer of Books-A-Million, Inc.
(&#8220;BAMM&#8221;), a leading book retailer in the southeastern United States, since
February 2004.&#160;&#160;She also has served as President of BAMM since August
1999, having joined BAMM in 1992.&#160;&#160;Prior to joining BAMM, Ms. Cochran
served as a Vice President (as well as in other capacities) of SunTrust
Securities, Inc., a subsidiary of SunTrust Banks, Inc. for more than five
years.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reference
is made to Item 5.02 of the Company&#8217;s Current Report on Form 8-K dated March 7,
2008 (the &#8220;March 2008 8-K&#8221;) and filed with the Commission on March 12, 2008,
which is incorporated herein by this reference.&#160;&#160;In the March 2008
8-K, the Company reported that the Board, effective March 7, 2008, appointed the
Company&#8217;s Senior Vice President, General Counsel and Secretary, N.B. Forrest
Shoaf, to the additional position of Interim Chief Financial
Officer.&#160;&#160;Mr. Shoaf, upon the election of Ms. Cochran and execution of
the Agreement, ceased to serve in the position of Interim Chief Financial
Officer.&#160;&#160;He will continue to serve in his other
capacities.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
7.01.&#160;&#160;Regulation FD Disclosure.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The information set forth in Items 1.01
and 5.02 above is incorporated by reference as if fully set forth
herein.&#160;&#160;On March 13, 2009, the Company issued the press release that
is furnished as Exhibit 99.2 to this Current Report on Form 8-K, which by this
reference is incorporated herein as if copied verbatim, announcing the
appointment of Ms. Cochran as the Company&#8217;s Executive Vice President and Chief
Financial Officer.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
9.01.&#160;&#160;Financial Statements and Exhibits.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>See Exhibit Index immediately following
the signature page to this Current Report on Form 8-K.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><br>
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</font></div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      </div>
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</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURE</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>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.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">
      <div>
      </div>
      <div>&#160;</div>
      <div align="center">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dated:</font></td>
              <td width="45%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">March 13,
      2009&#160;&#160;&#160;</font></td>
              <td width="51%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CRACKER BARREL OLD
      COUNTRY</font></td>
            </tr>
            <tr>
              <td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td width="45%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td width="51%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">STORE,
  INC</font></td>
            </tr>
        </table>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <div>&#160;</div>
      <div align="center">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td width="49%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td width="2%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></td>
              <td width="49%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/ N. B. Forrest
      Shoaf</font></td>
            </tr>
        </table>
      </div>
      <div align="center">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td width="49%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:</font></td>
              <td width="47%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N.B. Forrest
      Shoaf</font></td>
            </tr>
            <tr>
              <td width="49%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:&#160;</font></td>
              <td width="47%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Senior Vice
      President, Secretary&#160;and Chief Legal
Officer</font></td>
            </tr>
        </table>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT
INDEX</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>&#160;</div>
    <div align="center">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td width="45%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="TEXT-DECORATION: underline">Exhibit
      No.</font>&#160;&#160;&#160;&#160;</font></td>
            <td width="9%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></td>
            <td width="46%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 81pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Change
      in Control Agreement with Sandra B. Cochran dated March 11, 2009 (not
      filed because substantially identical to Exhibit 10(s) to the Company&#8217;s
      Annual Report on Form 10-K for the fiscal year ended August 1, 2003 filed
      with the Commission on October 15,
2003)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
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            <td style="WIDTH: 81pt">
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            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
      Release issued by Cracker Barrel Old Country Store, Inc. dated March 13,
      2009 (furnished only)</font></div>
            </td>
          </tr>
      </table>
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crackerbarrel8k021909.htm
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):
February 19,
2009
CRACKER
BARREL OLD COUNTRY STORE, INC.
Tennessee
0-25225
62-1749513
(State or
      Other Jurisdiction
(Commission
      File Number)
(I.R.S.
      Employer
of
      Incorporation)
Identification
      No.)
305
Hartmann Drive, Lebanon, Tennessee 37087
(615)
444-5533
Check the
appropriate box if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following
provisions:
[  ]
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.13e-4(c))
Item
1.01.  Entry into a Material Definitive Agreement
Employment
Agreement
On March 11, 2009, Cracker Barrel Old
Country Store, Inc. (the "Company") and Sandra B. Cochran entered into an
employment agreement (the "Agreement") whereby Ms. Cochran will serve as the
Company's Executive Vice President and Chief Financial Officer, with a start
date not later than April 6, 2009 (the "Start Date").  Unless extended
or earlier terminated, the Agreement, which is summarized below, will expire two
(2) years from the Start Date.  The initial two-year term will be
automatically extended for one year unless either Ms. Cochran or the Company
gives notice of non-extension.
The Agreement requires the Company to
pay Ms. Cochran a base salary of $500,000, which may be increased from time to
time ("Base Salary"), and an annual bonus with a target of 100% of Base
Salary.  Reference is made to the Item 5.02 of the Company's Current
Report on Form 8-K dated July 31, 2008 and filed with the Commission on August
6, 2008, which is incorporated herein by this reference, for additional
information on the Company's annual bonus plan.  Additionally, with
respect to awards under the Company's long-term incentive plan (the "LTI"), Ms.
Cochran's target percentage is 175% of Base Salary.  Reference is made
to the Item 5.02 of the Company's Current Report on Form 8-K dated September 25,
2008 and filed with the Commission on October 1, 2008, which is incorporated
herein by this reference, for additional information on the
LTI.  Neither the annual bonus nor the LTI is a guarantee but is
subject to satisfaction of such performance and other criteria as may be
established by the Compensation Committee (the "Compensation Committee") of the
Company's Board of Directors (the "Board").  Ms. Cochran's annual
bonus and the amount, if any, payable under the LTI each will be prorated based
upon the number of days during the performance period that Ms. Cochran is
employed by the Company.
The Agreement provides that Ms. Cochran
is entitled to participate in the Company's welfare benefit plans, practices,
policies and programs to the extent applicable generally to other senior
executives.  The Agreement provides for Ms. Cochran to receive a
restricted stock grant of 25,000 shares (the "Restricted Shares") of the
Company's $0.01 par value common stock (the "Shares"), 8,334 of which vest on
the second anniversary of the Start Date, and 16,666 of which vest on the third
anniversary of the Start Date.  The Agreement also provides for Ms.
Cochran to receive options to purchase 25,000 Shares at an exercise price equal
to the closing price of the Shares on March 11, 2009 (date of execution of
Agreement), which vest ratably over a three year period.  In addition,
Ms. Cochran will receive a $50,000 payment within 10 days after the Start
Date.
The Agreement may be terminated at any
time by the Company without any liability under the following conditions, each
of which constitutes "Cause": (a) fraud or breach by Ms. Cochran of securities
laws or other willful or grossly negligent acts
2
resulting
in investigation by the Securities and Exchange Commission that adversely
affects the Company or Ms. Cochran's ability to perform her duties, (b)
attending work in a state of intoxication or otherwise being found in possession
at work of any prohibited drug or substance, (c) personal dishonesty or willful
misconduct in connection with her duties, (d) breach of fiduciary duty to the
Company involving personal profit, (e) conviction of a felony or a crime
involving moral turpitude, (f) material intentional breach by Ms. Cochran of any
provision of the Agreement or any other Company policy adopted by the Board, or
(g) continued failure to perform duties after a written demand from the
Board.
If the Company terminates the Agreement other than for Cause, the Company is
required to pay Ms. Cochran, in addition to any amounts owed through the date of
termination of employment, including any amounts payable under any then existing
incentive or bonus plan applicable to Ms. Cochran (the "Accrued Obligations"),
one and one-half times her annual Base Salary payable over eighteen months;
provided, however, that if the termination is due solely to Ms. Cochran's having
given notice of non-extension of the original two-year term, then, in addition
to the Accrued Obligations, an amount equal to her annual Base Salary payable
over twelve months.  If Ms. Cochran elects to continue to participate
in the Company's medical insurance program, the Company is required to pay to
Ms. Cochran for a twelve month period an amount equal to the difference between:
(a) the monthly premium cost under COBRA of such participation; and (b) the
monthly premium cost of such participation at the time of Executive's
termination of employment.
If Ms. Cochran dies during the
term of the Agreement, the Company is required to pay to Ms. Cochran's estate
the Accrued Obligations.  If Ms. Cochran becomes disabled during the
term of the Agreement, the Company may terminate Ms. Cochran's
employment.  In such event, the Company is required to pay Ms. Cochran
the Accrued Obligations.
Ms. Cochran may also terminate her
employment for no reason or Good Reason (as defined below).  If Ms.
Cochran terminates her employment without Good Reason, the Agreement terminates
without further obligation to Ms. Cochran, other than for payment of the Accrued
Obligations.  If Ms. Cochran terminates her employment for Good
Reason, she is entitled to the same benefits she would have received if
terminated by the Company without Cause.
The following factors constitute "Good
Reason": (a) assignment of duties inconsistent in any material respect with Ms.
Cochran's position, authority, duties or responsibilities or demonstrable
diminution in Ms. Cochran's position, authority, duties or responsibilities
(excluding insubstantial and inadvertent actions remedied promptly after receipt
of notice), (b) certain reductions in Base Salary, (c) certain reductions in the
target bonus (expressed as a percentage of Base Salary), (d) requiring Ms.
Cochran to be based in any office or location more than 50 miles from the
Company's current headquarters, (e) the Company giving notice of non-extension
of the original two-year term, (f)
material
3
breach by the Company of
the Agreement, or (g) failure of any successor company to assume expressly and
agree to perform the Agreement.
The Agreement contains
certain business protection provisions that include a requirement that Ms.
Cochran not disclose confidential information or trade secrets of the Company
and a requirement that, during the term of the Agreement and for eighteen months
following its termination, Ms. Cochran will neither solicit employees of the
Company to leave their employment nor hold any position with any entity engaged
wholly or in material part in the restaurant or retail business that is similar
to that in which the Company or any of its affiliates is
engaged.
Employee
Retention Agreement
The Agreement contemplates
that simultaneously with its execution, Ms. Cochran will enter into the
Company's Standard Employee Retention Agreement (a "Change in Control
Agreement").  In the event of the termination of Ms. Cochran's
employment after a change in control, her benefits shall be determined by
reference to the Change in Control Agreement and not to the terms and conditions
of the Agreement.  Ms. Cochran's Change in Control Agreement is filed
as Exhibit 99.1 to this Current Report on Form 8-K.  The Change in
Control Agreement provides that Ms. Cochran will receive specified benefits if,
after a "change in control" of the Company there is: (1) a material change in
duties or responsibilities resulting in the assignment of duties and
responsibilities inferior to the duties and responsibilities in effect at the
time of change in control, (2) a reduction in salary or a material change in
benefits (excluding discretionary bonuses), or (3) a change in the location of
work assignments from the location at the time of change in control to any other
location that is further than 50 miles away from the location at the time of
change in control.  The salary payments will equal 2.99 times the
average salary and bonus for the 3 years prior to a change in control
(including, when required, a gross-up payment to cover excise taxes), and
benefits will include continuation of and payments for health benefits for a
2-year period.  The Change in Control Agreement defines "change in
control" to include certain circumstances in which a person becomes the
beneficial owner of securities representing 20% or more of the combined voting
power of the Shares, a majority of the Board changes within a 2-year period, the
Company merges, consolidates or reorganizes, or in the event of a sale of all or
substantially all of the Company's assets.
The
foregoing is only a summary of the Change in Control Agreement and is qualified
in its entirety by reference to the agreement incorporated by reference as
Exhibit 99.1.
4
Item
5.02.  Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Item 1.01
of this Current Report on Form 8-K is incorporated herein by this
reference.  On February 19, 2009, the Board elected Ms. Cochran to
serve as the Company's Executive Vice President and Chief Financial Officer,
contingent upon the approval of her compensation arrangements by the
Compensation Committee and the final negotiation and execution and delivery by
her of the Agreement referenced in Item 1.01.  In accordance with the
Instruction paragraph (c) to Item 5.02 of Form 8-K, the Company delayed filing
this Current Report on Form 8-K until the issuance of the press release
referenced in Item 7.01 of, and furnished as Exhibit 99.2 to, this Current
Report on Form 8-K announcing Ms. Cochran's appointment.
Ms.
Cochran, age 50, has served as Chief Executive Officer of Books-A-Million, Inc.
("BAMM"), a leading book retailer in the southeastern United States, since
February 2004.  She also has served as President of BAMM since August
1999, having joined BAMM in 1992.  Prior to joining BAMM, Ms. Cochran
served as a Vice President (as well as in other capacities) of SunTrust
Securities, Inc., a subsidiary of SunTrust Banks, Inc. for more than five
years.
Reference
is made to Item 5.02 of the Company's Current Report on Form 8-K dated March 7,
2008 (the "March 2008 8-K") and filed with the Commission on March 12, 2008,
which is incorporated herein by this reference.  In the March 2008
8-K, the Company reported that the Board, effective March 7, 2008, appointed the
Company's Senior Vice President, General Counsel and Secretary, N.B. Forrest
Shoaf, to the additional position of Interim Chief Financial
Officer.  Mr. Shoaf, upon the election of Ms. Cochran and execution of
the Agreement, ceased to serve in the position of Interim Chief Financial
Officer.  He will continue to serve in his other
capacities.
Item
7.01.  Regulation FD Disclosure.
The information set forth in Items 1.01
and 5.02 above is incorporated by reference as if fully set forth
herein.  On March 13, 2009, the Company issued the press release that
is furnished as Exhibit 99.2 to this Current Report on Form 8-K, which by this
reference is incorporated herein as if copied verbatim, announcing the
appointment of Ms. Cochran as the Company's Executive Vice President and Chief
Financial Officer.
Item
9.01.  Financial Statements and Exhibits.
(d)           Exhibits.
See Exhibit Index immediately following
the signature page to this Current Report on Form 8-K.
5
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.
Dated:
March 13,
      2009
CRACKER BARREL OLD
      COUNTRY
STORE,
  INC
By:
/s/ N. B. Forrest
      Shoaf
Name:
N.B. Forrest
      Shoaf
Title:
Senior Vice
      President, Secretary and Chief Legal
Officer
6
EXHIBIT
INDEX
Exhibit
      No.
Description
99.1
Change
      in Control Agreement with Sandra B. Cochran dated March 11, 2009 (not
      filed because substantially identical to Exhibit 10(s) to the Company's
      Annual Report on Form 10-K for the fiscal year ended August 1, 2003 filed
      with the Commission on October 15,
2003)
99.2
Press
      Release issued by Cracker Barrel Old Country Store, Inc. dated March 13,
      2009 (furnished only)
7