Effective as of December 20, 2013, Rob McCarten resigned from his position as Executive Vice President and President-Tandy Brands of Tandy Brands Accessories, Inc. and all officer positions held with any subsidiary of the Company. In addition, Mr. McCarten resigned from his position as a member of the Board of Directors of the Company. Such resignation was not a result of any disagreement with the Company.

Mr. McCarten will continue as an employee of the Company during the Company's restructuring efforts.