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                                                                  Exhibit 10.7

                        HAVERTY FURNITURE COMPANIES, INC.
                          EMPLOYEE STOCK PURCHASE PLAN

                             As Amended and Restated
                                February 7, 1995
                                       and
                           As Amended November 1, 1996
                                       and
                             As Amended and Restated
                                October 29, 1999




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                        HAVERTY FURNITURE COMPANIES, INC.
                          EMPLOYEE STOCK PURCHASE PLAN

                    As Amended and Restated February 7, 1995
                         and As Amended November 1, 1996
                  and As Amended and Restated October 29, 1999


1.   PURPOSE. The purpose of the Haverty Furniture Companies, Inc. Employee
     Stock Purchase Plan (the "Plan") is to encourage and enable eligible
     employees of Haverty Furniture Companies, Inc. (the "Company") and any of
     its subsidiaries to acquire proprietary interests in the Company through
     the ownership of Common Stock of the Company. The Company believes that
     employees who participate in the Plan will have a closer identification
     with the Company by virtue of their ability as stockholders to participate
     in the Company's growth and earnings. It is the intention of the Company to
     have the Plan qualify as an "employee stock purchase plan" under Section
     423 of the Internal Revenue Code of 1986, as amended (the "Code").
     Accordingly, the provisions of the Plan shall be construed so as to extend
     and limit participation in a manner consistent with the requirements of
     that section of the Code.

2.   DEFINITIONS. The following words or terms have the following meanings:

     (a)  "Plan" shall mean this Haverty Furniture Companies, Inc. Employee
          Stock Purchase Plan.

     (b)  "Company" shall mean Haverty Furniture Companies, Inc.

     (c)  "Board of Directors" shall mean the Board of Directors of the Company
          or the Executive Committee of such Board.

     (d)  "Shares," "Stock" or "Common Stock" shall mean shares of the $1.00 par
          value Common Stock of the Company.

     (e)  "Committee" shall mean the Stock Option Committee of the Board of
          Directors of the Company.

     (f)  "Subsidiary" shall mean any corporation, if the Company owns or
          controls, directly or indirectly, more than 50 percent of the voting
          stock of such corporation.

     (g)  "Eligible Employee" shall mean a person regularly employed by the
          Company or a Subsidiary on the effective date of any offering of stock
          pursuant to the Plan; provided, however, that no person shall be
          considered an Eligible Employee unless he or she is customarily
          employed by the Company or a Subsidiary for at least twenty hours per
          week and as of such effective date has been employed by the Company or
          a Subsidiary for more than one year; and provided further, that the
          Board of Directors may exclude the employees of any specified
          Subsidiaries from any offering under the Plan.



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     (h)  "Offer Period" shall mean, with respect to any offering of Stock
          hereunder, the period specified by the Committee (which shall normally
          consist of six (6) calendar months) during which such offering is
          effective and outstanding.

     (i)  "Grant Date" shall mean the commencement date of the applicable Offer
          Period.

     (j)  "Exercise Date" shall mean the termination date of the applicable
          Offer Period.

     (k)  "Options" shall mean the right or rights granted to Eligible Employees
          to purchase the Company's Common Stock under an offering made under
          the Plan and pursuant to such Eligible Employees' elections to
          participate in such offering.

     (l)  "Fair Market Value" shall mean the closing price of the Company's
          $1.00 par value Common Stock as quoted on the National Association of
          Securities Dealers, Inc. National Market System.

     (m)  "Annual Pay" shall mean, with respect to any Eligible Employee, the
          taxable earnings paid by the Employer to the Eligible Employee and
          reported on his Form W-2 for the calendar year preceding the year in
          which the applicable offering commences; provided that Annual Pay will
          INCLUDE (a) basic salary or wages, (b) overtime pay, (c) bonuses, (d)
          commissions, (e) amounts deferred under Internal Revenue Code Sections
          401(k) and/or 125 pursuant to the Eligible Employee's salary reduction
          agreement, and (f) amounts deferred under the Company's Top Hat Mutual
          Fund Option Plan and/or any other deferred compensation plan
          maintained by the Company and Annual Pay will EXCLUDE (a)
          employer-paid FICA taxes and contributions under any qualified pension
          plan to the extent not currently taxable to the Eligible Employee, (b)
          amounts realized from the exercise of nonqualified stock options or
          the lapse of restrictions on stock or other disposition of stock
          acquired under a qualified or incentive stock option, (c) the imputed
          value of group term life insurance, (d) cash and noncash fringe
          benefits including taxable fringe benefits from the use of
          Company-owned vehicles, (e) reimbursements and expense allowances, (f)
          moving expenses, (g) welfare benefits, (h) income realized upon a
          participant's actual or constructive receipt of amounts payable under
          any deferred compensation plan maintained by the Company, including,
          without limitation, pursuant to exercise of an option to acquire
          mutual fund shares at a discount pursuant to the Company's Top Hat
          Mutual Fund Option Plan, and (i) other amounts which receive special
          tax benefits.

     (n)  "Minimum Contribution" shall mean, with respect to any offering under
          the Plan, 1% of Annual Pay.

3.   SHARES RESERVED FOR PLAN. The Shares of the Company's Common Stock to be
     sold to Eligible Employees under the Plan may, at the election of the
     Company, be either treasury shares or shares originally issued for such
     purpose. The maximum number of Shares which shall be reserved and made
     available for sale under the Plan shall be 1,500,000 (giving effect to the
     June 30, 1993 stock split and the August 25, 1999 stock split) of which
     396,500 shares remained available for issuance as of August 25, 1999 (after
     giving effect to the August 25,


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     1999 stock split). The Shares reserved may be issued and sold pursuant to
     one or more offerings under the Plan. With respect to each offering, the
     Board of Directors, or the Committee, will specify the number of Shares to
     be made available, the commencement date and the termination date of the
     applicable Offer Period and such other terms and conditions not
     inconsistent with the Plan as may be necessary or appropriate. In no event
     shall the Offer Period for any offering exceed 27 months.

          In the event of a subdivision, combination or reclassification of the
Company's Shares, the maximum number of Shares which may thereafter be issued
and sold under the Plan and the number of Shares subject to options to purchase
at the time of such subdivision, combination or reclassification will be
proportionately increased or decreased, the terms relating to the price at which
Shares subject to options to purchase will be sold will be appropriately
adjusted, and such other action will be taken as in the opinion of the Board of
Directors is appropriate under the circumstances.

4.   ADMINISTRATION OF THE PLAN. Except as otherwise provided herein, the Plan
     shall be administered by the Committee. Subject to the provisions of
     Paragraph 6, the Committee shall be vested with full authority to make,
     administer and interpret such equitable rules and regulations regarding the
     Plan as it may deem advisable. Except as otherwise provided herein, any
     determination, decision or action of the Committee in connection with the
     construction, interpretation, administration or application of the Plan
     shall be final, conclusive and binding upon all Eligible Employees and any
     and all persons claiming under or through an Eligible Employee.

          The Committee may act by a majority vote at a regular or special
meeting of the Committee or by decision reduced to writing and signed by a
majority of the members of the Committee without holding a formal meeting.
Vacancies in the membership of the Committee shall be filled by the Board of
Directors.

          The Committee may request that the management of the Company appoint a
"Plan Administrator" to carry out the administrative and ministerial functions
necessary to implement the determinations, decisions and actions of the
Committee with respect to any offering under the Plan.

5.   OFFERINGS. The Plan will be implemented by offerings made by the Company
     from time to time as determined by the Committee, but in any event not more
     than two times per year. Participation in any offering under the Plan shall
     neither limit, nor require, participation in any other offering except that
     no employee may have more than one authorization for a payroll deduction in
     effect simultaneously.

6.   PARTICIPATION IN THE PLAN. (a) Options to purchase the Company's Common
     Stock under the Plan shall be granted only to Eligible Employees. With
     respect to any offering under the Plan, options to purchase Shares shall be
     granted to all Eligible Employees of the Company and its Subsidiaries
     (other than any Subsidiary whose employees have been excluded from such
     offering by the Board of Directors) who have elected to participate in such
     offering as provided hereunder; provided, however, that the Board of
     Directors may determine that any offering of Common Stock under the Plan
     will not be extended to highly compensated


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     employees (within the meaning of Section 414(q) of the Code) of the Company
     or its Subsidiaries, and provided further that in no event may an employee
     be granted an option under this Plan if such employee, immediately after
     the option is granted, owns Stock possessing five percent or more of the
     total combined voting power or value of all classes of capital stock of the
     Company or any Subsidiary.

     (b) For the purposes of determining stock ownership under this Paragraph 6,
     the rules of Section 424(d) of the Code shall apply and Stock which the
     employee may purchase under all outstanding options (whether or not granted
     under this Plan) shall be treated as Stock owned by the employee. Any
     decision relating to whether to include or exclude any officer or highly
     compensated employee of the Company pursuant to this Paragraph 6 shall be
     made only by the members of the Board of Directors who are not executive
     officers of the Company and who have not participated in this Plan or any
     similar employee stock option plan of the Company (except the Company's
     1986, 1988 and 1993 Non-Qualified Stock Option Plans) for a period of at
     least one year prior to such determination.

     (c) An Eligible Employee may become a participant by completing the form
     provided by the Company for such purpose in connection with the applicable
     offering and filing it with the Plan Administrator (or such other person as
     may be designated by the Company on such form) prior to the commencement
     date of the applicable offering.

     (d) With respect to any offer hereunder, each participating Eligible
     Employee shall have the same rights and privileges subject to the
     limitations set forth in Paragraph 10; provided, that the use of Annual Pay
     (which varies among Eligible Employees) as the basis for determining the
     number of Shares for which an Eligible Employee may be granted an option
     shall not be construed to create a difference in such rights and privileges
     so long as each Eligible Employee has the right to elect the same
     percentage of his Annual Pay as a payroll deduction under Paragraph 8.

7.   PURCHASE PRICE. The purchase price for Shares purchased pursuant to the
     Plan will be the lesser of (a) an amount equal to 85% of the Fair Market
     Value of the Stock on the Grant Date, or if no Shares were traded on that
     day, on the last day prior thereto on which Shares were traded; or (b) an
     amount equal to 85% of the Fair Market Value of the Stock on the Exercise
     Date, or if no Shares were traded on that day, on the last day prior
     thereto on which Shares were traded. The purchase price for Shares
     purchased pursuant to the Plan will be payable only by means of payroll
     deductions as provided herein.

8.   PAYROLL DEDUCTIONS. (a) In the form filed pursuant to Paragraph 6(c) a
     participant shall specify an amount which, in the aggregate during such
     offering, is not less than one percent (1%) and not more than ten percent
     (10%) of his Annual Pay which will be deducted from his pay in equal (or as
     nearly equal as is practicable) installments on each payday during the time
     he is a participant in such offering. Payroll deductions for a participant
     shall commence on the commencement date of the offering to which the
     authorization for a payroll deduction is applicable and shall end on the
     termination date of such offering unless sooner terminated by the
     Participant as provided in Paragraph 13.


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     (b) Intentionally omitted.

     (c) All payroll deductions made for a participant shall be credited to his
     account under the Plan.

     (d) A participant may discontinue his participation in the Plan as provided
     in Paragraph 13. During each Offer Period, a participant may reduce the
     rate of his payroll deductions one time for that offering by giving written
     notice of such reduction to the Plan Administrator; provided, however, that
     a participant who is not discontinuing his participation in the Plan as
     provided in Paragraph 13 may not reduce the rate of his payroll deductions
     below that required to enable the participant to make the Minimum
     Contribution. If for any reason other than the termination of the
     participant's employment subject to Paragraph 13(c), a participant has no
     pay or his pay is insufficient (after other authorized deductions) to
     permit deduction of his scheduled payroll deductions hereunder during a
     portion of the Offer Period and such participant's actual payroll
     deductions during the Offer Period equal less than the Minimum
     Contribution, such participant shall be deemed to have elected to withdraw
     from the offering effective on the termination date of such offering as
     provided in Paragraph 11(a)(i).

9.   GRANTS OF OPTIONS. Subject to the limitations set forth below in this
     Paragraph 9 or in Paragraph 10, each Eligible Employee participating in an
     offering shall be granted an option to purchase a fixed maximum number of
     Shares determined by the following procedure:

         Step 1-    Determine the aggregate amount which would be withheld from
                    the Eligible Employee's pay during the applicable Offer
                    Period in accordance with such Eligible Employee's
                    authorization for a payroll deduction;

         Step 2 -   Determine the figure which represents 85% of the Fair Market
                    Value on the Grant Date;

         Step 3 -   Divide the figure determined in Step 1 by the figure
                    determined in Step 2 and round off the quotient to the
                    nearest whole number. Subject to the limitations set forth
                    herein, this final figure shall be the fixed maximum number
                    of Shares for which the Eligible Employee may be granted an
                    option to purchase under the applicable offering.

          In the event the total maximum number of Shares for which options
would otherwise be granted in accordance with this Paragraph 9 under any
offering hereunder exceeds the number of Shares offered, the Company shall
reduce the maximum number of Shares for which Eligible Employees may be granted
options to allot the Shares available in such manner as it shall determine, but
generally pro rata, and shall grant options to purchase only for such reduced
number of Shares. In such event, the payroll deductions to be made pursuant to
the authorizations therefor shall be reduced accordingly (without regard to the
otherwise applicable Minimum Contribution) and the Company shall give written
notice of such reduction to each employee affected thereby.


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          On the Grant Date each participating Eligible Employee shall be
granted an option to purchase the number of Shares determined under this
Paragraph 9, subject to the limitations set forth in Paragraph 10. Notice that
an option has been granted shall be given to each participating Eligible
Employee and such notice shall show the maximum number of Shares subject to such
option and the amount to be deducted from the Eligible Employee's pay for each
payroll period during the applicable Offer Period.

          All Shares included in any offering under the Plan in excess of the
total number of Shares for which options are granted hereunder and all Shares
with respect to which options granted hereunder are not exercised shall continue
to be reserved for the Plan and shall be available for inclusion in any
subsequent offering under the Plan.

10.  LIMITATIONS OF NUMBER OF OPTIONS WHICH MAY BE GRANTED AND SHARES WHICH MAY
     BE PURCHASED. The following limitations shall apply h with respect to the
     number of Shares for which each Eligible Employee who elects to participate
     in an offering under the Plan may be granted an option hereunder:

     (1)  No Eligible Employee may purchase Shares under any one offering
          pursuant to the Plan for an aggregate purchase price in excess of 10%
          of his Annual Pay; and

     (2)  No Eligible Employee participating in an offering and not withdrawing
          therefrom may purchase Shares under any one offering pursuant to the
          Plan for an aggregate purchase price which is less than 1% of his
          Annual Pay, unless such purchase relates to the full number of shares
          subject to the option granted to such Eligible Employee pursuant to
          the Plan; and

     (3)  No Eligible Employee shall be granted an option to purchase Shares
          under the Plan if such Eligible Employee immediately after such option
          is granted, owns stock or holds options to purchase stock possessing
          in the aggregate five percent or more of the total combined voting
          power or value of the capital stock of the Company or of any
          Subsidiary (under the rules set forth in Section 424(d) of the Code);
          and

     (4)  No Eligible Employee may be granted an option to purchase Shares which
          permits his right to purchase Stock under the Plan and all other stock
          option plans of the Company and of any Subsidiary pursuant to Section
          423 of the Code to accrue at a rate which exceeds in any one calendar
          year $25,000 of the fair market value of such Stock (determined on the
          Grant Date).

11.  EXERCISE OF OPTION. (a) Unless a participant's aggregate payroll deductions
     with respect to an offering are less than the Minimum Contribution (other
     than as the result of a reduction in payroll deductions pursuant to Section
     9 hereof) or the participant gives written notice to the Company as
     hereinafter provided, his option to purchase Shares in such offering will
     be exercised automatically for him on the termination date of the
     applicable offering, for the purchase of the number of whole Shares subject
     to such participant's option which the accumulated payroll deductions in
     his account at that time will purchase at the applicable option price.


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     (b) By written notice to the Company not earlier than ninety (90) days
     prior to the termination date of the applicable offering and not later than
     the day prior to such termination date, a participant may elect, effective
     on the termination date of such offering, to:

          (i)  Withdraw all the accumulated payroll deductions in his account at
               the termination date; or

          (ii) Exercise his option for a specified number of whole Shares less
               than the number of whole Shares subject to such option which the
               accumulated payroll deductions in his account at the termination
               date will purchase at the applicable option price; provided,
               however, no participant may exercise an option pursuant to this
               Paragraph 11(a)(2)(ii) for a number of whole shares which is less
               than the number of whole shares which such participant's Minimum
               Contribution would purchase at the applicable option price.

12.  DELIVERY. As promptly as practicable after the termination of each
     offering, the Company will deliver to each participant, as appropriate,
     either the Shares purchased upon the exercise of his option together with a
     cash payment equal to the balance of any payroll deductions credited to his
     account during such offering which were not used for the purchase of
     Shares, or a cash payment equal to the total of the payroll deductions
     credited to his account during such offering.

13.  WITHDRAWAL. (a) A participant may withdraw payroll deductions credited to
     his account under the Plan at any time by giving written notice to the
     Company. All of the participant's payroll deductions credited to his
     account will be paid to him promptly after receipt of his notice of
     withdrawal, and no further payroll deductions will be made from his pay
     except in accordance with an authorization for a new payroll deduction
     filed with respect to a different offering in accordance with Paragraph
     6(c).

     (b) A participant's withdrawal will not have any effect upon his
     eligibility to participate in a succeeding offering or in any similar plan
     which may hereafter be adopted by the Company.

     (c) Upon termination of the participant's employment for any reason,
     including retirement, the payroll deductions credited to his account will
     be returned to him, or, in the case of his death, to the person or persons
     entitled thereto under Paragraph 14 and all options granted to such
     participant hereunder and not previously exercised shall be deemed
     canceled.

14.  DESIGNATION OF BENEFICIARY. A participant may file a written designation of
     a beneficiary who is to receive any Shares and cash to the participant's
     credit under the Plan in the event of such participant's death prior to
     delivery to him of such Shares and cash. Such designation of beneficiary
     may be changed by the participant at any time by written notice. Upon the
     death of a participant and upon receipt by the Company of proof of the
     identity and existence at the participant's death of a beneficiary validly
     designated by him under the Plan, the Company shall deliver such Shares and
     cash to such beneficiary. In the event of the death of a


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     participant and in the absence of a beneficiary validly designated under
     the Plan who is living at the time of such participant's death, the Company
     shall deliver such Shares and cash to the executor or administrator of the
     estate of the participant, or if no such executor or administrator has been
     appointed (to the knowledge of the Company) the Company shall deliver such
     Shares and cash to the applicable court having jurisdiction over the
     administration of such estate. No designated beneficiary shall, prior to
     the death of the participant by whom he has been designated, acquire any
     interest in the Shares or cash credited to the participant under the Plan.

15.  RIGHTS AS STOCKHOLDER. An Eligible Employee shall have no rights as a
     stockholder with respect to Shares subject to an option until such option
     has been exercised with respect to such Shares in connection with the terms
     hereunder. A certificate for the Shares purchased will be issued as soon as
     practicable after the termination of the applicable offering. Such Shares
     will be registered in the name of the applicable Eligible Employee.

16.  OPTIONS NOT TRANSFERABLE. Neither an Eligible Employee's options nor the
     payroll deductions credited to such Eligible Employee's account may be
     sold, pledged, assigned or transferred in any manner otherwise than by will
     or by the laws of descent and distribu tion, and during the lifetime of the
     Eligible Employee, such options may only be exercised by him or her. If
     this provision is violated the right of the Eligible Employee to exercise
     such options shall terminate and the only right remaining hereunder with
     respect to such options and such payroll deductions will be to have paid
     over to the person entitled thereto the amount then credited to the
     Eligible Employee's account.

17.  APPLICATION OF FUNDS. All funds received by the Company pursuant to payroll
     deductions authorized in accordance with the terms hereof and held by the
     Company at any time may be used for any valid corporate purpose and will
     not be maintained in a segregated account. Participants shall not be
     entitled to earn interest on any such funds held by the Company hereunder.
     Until paid over to the applicable Eligible Employee or used to purchase
     Shares as provided hereunder, the amount of each Eligible Employee's
     payroll deductions in connection with any applicable offering shall
     represent an indebtedness of the Company to such Eligible Employee.

18.  GOVERNMENTAL APPROVALS OR CONSENTS. The Plan shall not be effective unless
     it is approved by the stockholders of the Company within 12 months after
     the Plan is adopted by the Board of Directors of the Company. The Plan and
     any offerings and sales to Eligible Employees under it are subject to any
     governmental approvals or consents that may be or become applicable in
     connection therewith. The Board of Directors of the Company may make such
     changes in the Plan and include such terms in any offering under the Plan
     as may be necessary or desirable, in the opinion of counsel, so that the
     Plan will comply with the rules and regulations of any governmental
     authority and so that Eligible Employees participating in the Plan will be
     eligible for tax benefits under the Code or the laws of any state.

19.  AMENDMENT OR TERMINATION. The Board of Directors of the Company may at any
     time terminate or amend the Plan. No such termination shall affect options
     previously granted, nor may an amendment make any change in any option
     theretofore granted which would


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     adversely affect the rights of any participant nor may an amendment be made
     without prior approval of the stockholders of the Company if such amendment
     would:

     (1) Increase the maximum number of shares authorized under Paragraph 3
         for sale under the Plan otherwise than as required to reflect a
         subdivision, a combination or a reclassification as provided in
         Paragraph 3 hereof; or

     (2) Expand the persons eligible to participate in the Plan beyond the
         employees of the Company and its Subsidiaries.

20.  NOTICES. All notices or other communications by a participant to the
     Company under or in connection with the Plan shall be deemed to have been
     duly given when received by the Treasurer of the Company or when received
     in the form specified by the Company at the location, or by the person,
     designated by the Company for the receipt thereof.



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