This note is concerned with the absolutestability for time-varying delay Lur’e system withsector-bounded nonlinearity. Improved delay-dependentand delay-derivative-dependent stability criteria areobtained in the form of linear matrix inequalities (LMIs)by constructing a modified augmented Lyapunov-Krasovskii (LK) functional without applying the modeltransformation or the bounding techniques for crossterms. Thus, the presented delay-dependent criteria areless conservative than those in the literature. Moreover,state feedback stabilizing controllers based on theproposed stability criteria are designed. Numericalexample demonstrates the effectiveness and superiorityof the proposed method.