FORM 10-K                                                                Page 54
Exhibit 10.14
                              CONSULTING AGREEMENT

         CONSULTING AGREEMENT, dated December 5, 1996, by and between Dewey L.
Trogdon ("Trogdon") and Cone Mills Corporation (the "Company").
                                     RECITAL
         Trogdon retired from active service as an employee of the Company,
effective March 31, 1992. Because of his familiarity with the business and
affairs of the Company, Trogdon was in a position to provide valuable
consultation and advice to the Company and the Company desired to obtain such
consultation and advice. Accordingly, the Company agreed to retain Trogdon as a
consultant, and Trogdon agreed to provide consulting services, during the period
beginning April 1, 1992, and ending December 31, 1992, pursuant to a Consulting
Agreement dated December 19, 1991. The Company and Trogdon agreed to an
extension of the consulting arrangement through 1993, 1994, 1995, and 1996
pursuant to Consulting Agreements dated November 19, 1992, December 3, 1993,
November 10, 1994, and December 5, 1995, respectively. The Company and Trogdon
have agreed to continue the consulting arrangement during the period beginning
January 1, 1997, and ending December 31, 1997 (the "Consulting Period").
         NOW, THEREFORE, Trogdon and the Company agree as follows:
         1.       Consulting Services.  Subject to the terms and provisions of
                  this Agreement, the Company hereby engages Trogdon to perform
                  consulting services during the Consulting Period.  Trogdon


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FORM 10-K                                                                Page 55
Exhibit 10.14              (continued)
                  hereby accepts such engagement and agrees to render such
                  consulting services pertaining to the business of the Company
                  as the Chief Executive Officer of Cone shall request from time
                  to time during the Consulting Period.
         2.       Fees.  During the Consulting Period, the Company shall pay to
                  Trogdon a consulting fee of $15,000 per calendar quarter
                  (payable on March 31, 1997, June 30, 1997, September 30, 1997,
                  and December 31, 1997) and, in addition, shall reimburse
                  Trogdon for any travel and entertainment expenses reasonably
                  incurred by him in connection with rendering consulting
                  services hereunder upon submission of appropriate
                  documentation therefore.
         3.       Independent Contractor.  During the Consulting Period, Trogdon
                  shall be an independent contractor and not an employee of the
                  Company.  Accordingly, Trogdon shall determine when, where and
                  how the consulting services required of him under this
                  Agreement will be performed, shall be responsible for the
                  payment of all employment, income and other taxes payable by
                  reason of his receipt of consulting fees under this Agreement,
                  and shall not be eligible to participate in any pension,
                  profit sharing, health, disability, life, or other employee
                  benefit plan or program maintained by the Company.



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FORM 10-K                                                                Page 56
Exhibit 10.14              (continued)
         4.       Termination by Death. If Trogdon dies during the Consulting
                  Period, this Agreement shall thereupon terminate, but the
                  Company shall pay to Trogdon's estate all consulting fees and
                  unremibursed expenses to which he would otherwise have been
                  entitled under this Agreement through the end of the
                  Consulting Period.
         5.       Entire Contract.  This Agreement constitutes the entire
                  contract and agreement of the parties and supersedes and
                  replaces all other prior agreements and understandings, both
                  written and oral, with respect to the performance of personal
                  services by Trogdon for the Company during the Consulting
                  Period.
         6.       Miscellaneous. This Agreement may not be amended or modified
                  except by an instrument in writing signed by the party against
                  whom any such modification or amendment is sought to be
                  enforced. No wavier of any breach of this Agreement shall
                  operate or be construed as a waiver of any subsequent breach.
                  This Agreement shall be construed in accordance with the laws
                  and judicial decisions of the State of North Carolina.



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FORM 10-K                                                                Page 57
Exhibit 10.14              (continued)
         IN WITNESS WHEREOF, Trogdon and the Company have signed this Agreement
as of the day and year first above written.

                                 By: /s/Dewey L. Trogdon
                                        Dewey L. Trogdon


                                 CONE MILLS CORPORATION

                                 By: /s/J. Patrick Danahy
                                        J. Patrick Danahy, President & CEO




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