Page 48

Exhibit 10.14

                              CONSULTING AGREEMENT


     CONSULTING  AGREEMENT,  dated  December 19, 1997,  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, 1996, and 1997
pursuant to Consulting  Agreements  dated  November 19, 1992,  December 3, 1993,
November 10, 1994,  December 5, 1995,  and December 5, 1996,  respectively.  The
Company and Trogdon have agreed to continue the  consulting  arrangement  during
the period  beginning  January  1,  1998,  and  ending  December  31,  1998 (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 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,
          1998,  June 30, 1998,  September 30, 1998, and December 31, 1998) 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


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                                                                         Page 49

Exhibit 10.14  (continued)


          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.

     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  unreimbursed  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.

     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