SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C.
Form
8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
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Date
of report (Date of earliest event reported):
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April 1,
2008
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Tandy Leather Factory,
Inc.
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(Exact
Name of Registrant as Specified in Its
Charter)
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Delaware
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(State
or Other Jurisdiction of
Incorporation
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1-12368
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75-2543540
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(Commission
File Number)
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(IRS
Employer Identification Number)
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1900
Southeast Loop 820, Fort Worth, Texas
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76140
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(817)
872-3200
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(Registrant’s
Telephone Number, Including Area
Code)
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3847
East Loop 820 South, Fort Worth, Texas 76119
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(Former
Name or Former Address, if Changed Since Last
Report)
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Item
5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN
OFFICERS
On April
1, 2008, we entered into a consulting agreement with Wray Thompson, our Chairman
of the Board to be effective January 1, 2008. Under the terms of the
agreement, as compensation for Mr. Thompson’s service to the Board as Chairman
in 2008, the Board has approved an annual fee of $50,000 payable to Mr. Thompson
in monthly installments. In addition, Mr. Thompson will be eligible
to participate in the company’s medical plan.
The
summary of the consulting agreement set forth in this Current Report on Form 8-K
does not purport to be complete and is qualified in its entirety by reference to
the text of the form of the agreement attached hereto as Exhibit 10.1 and
incorporated herein by reference.
Item
9.01. Financial Statements and Exhibits.
Exhibit
No.
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10.1
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Consulting
Agreement, dated January 1, 2008, between Tandy Leather Factory, Inc. and
J. Wray Thompson
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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.
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TANDY
LEATHER FACTORY, INC.
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Date: April
1, 2008
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BY: /s/ Shannon L. Greene
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Chief
Financial Officer & Treasurer
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