EXHIBIT 10.1
AGREEMENT TO PROVIDE SEVERANCE PAY
THIS AGREEMENT TO PROVIDE SEVERANCE PAY (“ Agreement ”), dated as of this 22 nd day of
April, 2010 (the “ Effective Date ”), is by and between Tandy Brands Accessories, Inc., a Delaware corporation
(the “ Company ” or “ Tandy Brands ”), and N. Roderick McGeachy, III (the “ Executive ”). As used herein the
term the “Company” shall be deemed to include any and all present and future Subsidiaries and Affiliates of the
Company.
Recitals
A. The Executive is the Chief Executive Officer and President of the Company;
B. Executive and the Company are entering into this Agreement in order to set forth the terms and conditions
under which any severance payments shall be made to the Executive upon a termination of the services of the
Executive to the Company.
NOW, THEREFORE, the parties, intending to be legally bound, and in consideration of the mutual covenants
contained herein, agree as follows:
1. Definitions . Capitalized terms used in this Agreement, but not otherwise defined herein, shall have the
meaning hereby assigned to them as follows:
“ Affiliate ” means with respect to any Person, any other Person which is directly or indirectly controlling,
controlled by or under direct or indirect common control with (directly or indirectly through any Person) the
Person referred to. The term “ control ” (including, with correlative meaning, the terms “controlled by” and “under
common control with”) as used with respect to any Person, means the possession, directly or indirectly, of the
power to direct or cause the direction of the management and policies of such Person, whether through the
ownership of voting securities, by contract or otherwise.
“ Cause ” shall mean: (1) Executive’s breach of this Agreement (which remains uncured at the end of a 10-
day period after receipt of written notice of the breach); (2) Executive’s willful misconduct, malfeasance,
negligence in the performance or intentional nonperforma