Former Fresh Market CEO to receive 2 years' pay

Departed Fresh Market CEO Craig Carlock will continue to collect his $561,000 salary for the next two years, according to details of a separation agreement the retailer filed with federal securities regulators.

Carlock will also be eligible for a prorated portion of a cash bonus in 2014, and will receive continued medical and welfare benefits and vesting of company stock options for a two-year period. Carlock will also receive the title to a company car he used, the Greensboro, N.C.-based retailer said.

As previously reported, Carlock was terminated without cause on Jan. 11 and Sean Crane was appointed interim CEO. The Fresh Market said it was conducting a search for a new CEO.