Fiscal 2009 Compensation Summaries

EXHIBIT 10.38
TANDY BRANDS ACCESSORIES, INC.
FISCAL 2009 COMPENSATION SUMMARIES

On August 19, 2008 the Board of Directors (the “Board”) of Tandy Brands Accessories, Inc. (the “Company”), upon the recommendation of the Compensation Committee, approved the following base salaries for fiscal 2009 for the Company’s named executive officers. The Board determined to not grant any equity compensation awards to such officers based on the Company’s performance for fiscal 2008.

The Board also approved the annual cash compensation for nonemployee directors for fiscal 2009.

FISCAL 2009 NAMED EXECUTIVE OFFICER COMPENSATION SUMMARY

		Base
Named Executive Officer		Salary
J.S.B. Jenkins, Chairman of the Board,(1) President, and Chief Executive Officer		$	508,800
Jane A. Batts, President — Women’s Division		$	216,300
Morris D. Mitchell, President — Men’s Division (2)		$	220,500

FISCAL 2009 NONEMPLOYEE DIRECTOR COMPENSATION SUMMARY

Board and Committee

Meeting Fees

Annual Retainer

Per Meeting

Shares of Restricted Stock (A)

Board Member (other than

Audit Committee $2,000

Continuing Board Member

3,000

Lead Independent Director and Chairman of the Board)

$

25,000

Board and Other

New Board Member

4,060

Committees

Nonemployee Chairman

Audit Committee

$1,500 in person

of the Board

4,200

Chairperson

$

7,500

$750 telephonic

Other Committee Chairpersons

$

5,000

Lead Independent Director

$

50,000