Tandy Brands Accessories, Inc.
2011 Performance Unit Award Agreement
This award agreement (“Award Agreement”) sets forth the terms and conditions of the 2011 Performance Unit
Program (the “Program”) which is governed by the Tandy Brands Accessories, Inc. 2002 Omnibus Plan (the
“Plan”). This Award Agreement, together with the Plan, govern the rights under the Program with respect to the
performance-based units (each, a “Performance Unit”) Awards granted under this Award Agreement, and set forth
all of the conditions and limitations affecting such rights. Terms used in this Award Agreement that are not
otherwise defined herein shall have the meanings ascribed to them in the Plan. If there is any inconsistency between
the terms of this Award Agreement and the terms of the Plan, the Plan’s terms shall supersede and replace the
conflicting terms of this Award Agreement. For purposes of this Award Agreement, “Company” means Tandy
Brands Accessories, Inc., its affiliates, and/or its subsidiaries.
Award and Program Provisions
1. Performance Units Granted: Performance Units granted to (the “Participant”).
2. Date of Grant: July 1, 2010.
3. Performance Cycle. The performance cycle commences on July 1, 2010, and ends on June 30, 2013 (the
4. Performance Unit . The value of a single Performance Unit shall equal $1.00. Each Performance Unit shall
be comprised 50% of cash and 50% of phantom shares of the Common Stock of the Company, subject to
adjustment in accordance with Section 14 of this Award Agreement. The number of phantom shares of
Common Stock attributable to the Award shall be determined based upon the Fair Market Value of the
Common Stock of the Company on the date of grant, which was $_____.
5. Performance Measure – Earnings Per Share. Earnings Per Share (“EPS”) shall be determined by dividing
the Company’s consolidated net income or loss by the number of basic common shares of the Company for