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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): February 4, 2009</B>

<P style="font-size: 24pt" align="center"><B>TANDY BRANDS ACCESSORIES,
INC.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
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  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
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  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>0-18927</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>75-2349915</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

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cellpadding="0" width="100%" border="0">

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  <TD width="49%">&nbsp;</TD>
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  <TD width="49%">&nbsp;</TD>
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 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>690 East Lamar
Blvd.,<BR>
Suite 200<BR>
Arlington, Texas<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>76011</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

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<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(817) 548-0090</B>
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  <TD style="border-bottom: #000000 1px solid" nowrap><B>N/A<BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>



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<P style="display: none; font-size: 10pt" align="center">1
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  <TD align="left"><B>Item&nbsp;5.02</B></TD>
  <TD align="left">&nbsp;</TD>
  <TD align="left"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.</B></TD>
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<P style="font-size: 10pt; text-indent: 4%" align="justify">On January&nbsp;20,
2009, Tandy Brands Accessories, Inc. (the &#8220;Company&#8221;) announced an
organizational restructuring plan designed to focus the Company&#8217;s product
development efforts, build critical capabilities, increase flexibility to
better serve its retail partners&#8217; needs and reduce operating expenses
(the &#8220;Corporate Restructuring&#8221;). As reported on the Company&#8217;s
Form 8-K filed on January&nbsp;23, 2009, in connection with the Corporate
Restructuring, the Company eliminated the position of President &#8211;
Women&#8217;s Division, which resulted in the termination of Jane A.
Batts&#8217; employment with the Company on January&nbsp;19, 2009.

<P style="font-size: 10pt; text-indent: 4%" align="justify">The Company has
entered into a Separation Agreement and Release of Claims with Ms.&nbsp;Batts,
effective February&nbsp;4, 2009 (the &#8220;Agreement&#8221;). Pursuant to the
Agreement, and as previously agreed when Ms. Batts joined the
Company, the Company will pay Ms.&nbsp;Batts twenty-six (26)&nbsp;weeks of
her current base salary (approximately $120,000) over the next six months in an
effort to ease the transition into different employment. In exchange for the
foregoing separation benefit, Ms.&nbsp;Batts agreed to waive and release any
and all claims that she may have against the Company and agreed to standard
terms, including confidentiality, non-disparagement and non-solicitation
provisions, among other terms.

<P style="font-size: 10pt; text-indent: 4%" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
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<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.

<P style="font-size: 10pt; margin-left: 46%" align="justify"><b>TANDY BRANDS
ACCESSORIES, INC.</b>

<P style="font-size: 10pt" align="justify">Date: February&nbsp;10, 2009

<P style="margin-top: -11pt; font-size: 10pt; margin-left: 46%"
align="justify">By: <U>/s/ N. Roderick McGeachy,
III&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<br>N. Roderick McGeachy, III<BR>
President and Chief
Executive Officer


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<P style="display: none; font-size: 10pt" align="center">3
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{"company-data": {"conformed-name": "TANDY BRANDS ACCESSORIES INC", "cik": "0000869487", "assigned-sic": "2300", "irs-number": "752349915", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-18927", "film-number": "09585718"}, "business-address": {"street1": "690 E LAMAR BLVD STE 200", "city": "ARLINGTON", "state": "TX", "zip": "76011", "phone": "8172654113"}, "mail-address": {"street1": "690 E LAMAR BLVD", "city": "ARLINGTON", "state": "TX", "zip": "76011"}}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): February 4, 2009
TANDY BRANDS ACCESSORIES,
INC.
(Exact name of registrant as
specified in its charter)
Delaware
0-18927
75-2349915
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
690 East Lamar
Blvd.,
Suite 200
Arlington, Texas
76011
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(817) 548-0090
N/A
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 20,
2009, Tandy Brands Accessories, Inc. (the "Company") announced an
organizational restructuring plan designed to focus the Company's product
development efforts, build critical capabilities, increase flexibility to
better serve its retail partners' needs and reduce operating expenses
(the "Corporate Restructuring"). As reported on the Company's
Form 8-K filed on January 23, 2009, in connection with the Corporate
Restructuring, the Company eliminated the position of President –
Women's Division, which resulted in the termination of Jane A.
Batts' employment with the Company on January 19, 2009.
The Company has
entered into a Separation Agreement and Release of Claims with Ms. Batts,
effective February 4, 2009 (the "Agreement"). Pursuant to the
Agreement, and as previously agreed when Ms. Batts joined the
Company, the Company will pay Ms. Batts twenty-six (26) weeks of
her current base salary (approximately $120,000) over the next six months in an
effort to ease the transition into different employment. In exchange for the
foregoing separation benefit, Ms. Batts agreed to waive and release any
and all claims that she may have against the Company and agreed to standard
terms, including confidentiality, non-disparagement and non-solicitation
provisions, among other terms.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
TANDY BRANDS
ACCESSORIES, INC.
Date: February 10, 2009
By:
/s/ N. Roderick McGeachy,
III
N. Roderick McGeachy, III
President and Chief
Executive Officer