July 2009 Acquisition of certain strategic assets from Chambers Belt Company (Chambers). The acquisition contributed $34.6 million of net sales in fiscal 2010, provided talented employees and designs, and diversified our supplier base
EX-10.34 4 c05410exv10w34.htm EXHIBIT 10.34 Exhibit 10.34
EXHIBIT 10.34
TANDY BRANDS ACCESSORIES, INC.
FISCAL 2011 COMPENSATION SUMMARIES
TANDY BRANDS ACCESSORIES, INC.
FISCAL 2011 COMPENSATION SUMMARIES
On June 29, 2010 the Company’s Board of Directors, upon the recommendation of the Compensation Committee, approved the following base salaries for fiscal 2011 for certain of the Company’s executive officers.
FISCAL 2011 EXECUTIVE OFFICER COMPENSATION
| Executive Officer | Base Salary | |||
N. Roderick McGeachy, III Chairman of the Board,* President and Chief Executive Officer | $ | 345,000 | ||
M.C. Mackey Chief Financial Officer, Treasurer and Assistant Secretary | $ | 225,000 | ||
Robert J. McCarten Senior Vice President — Sales | $ | 225,000 | ||
| * | Mr. McGeachy does not receive compensation for serving as a director or Chairman of the Board. |
The Board also approved the following compensation for non-employee directors for fiscal 2011.
FISCAL 2011 NON-EMPLOYEE DIRECTOR COMPENSATION
| Annual Retainer: | Shares of Restricted Stock:** | |
Board Member — $50,000 | Continuing Board Member — 3,000 shares | |
Additional Annual Retainers: | New Board Member — 4,060 shares | |
Lead Independent Director — $10,000 | Non-Employee Chairman of the Board — 4,200 shares | |
Audit Committee Chair — $7,500 | One-Time Grant, effective July 1, 2010 — 2,556 shares to each non-employee director | |
Compensation Committee Chair — $7,500 |
| ** | Awards pursuant to the Company’s 2002 Omnibus Plan. |
