EXHIBIT 10.1
                                                                                
                                                                                
                                                                                
                                TANDYCRAFTS, INC.
                                        
                                        
                     Executive Officers Incentive Bonus Plan
                                        
                                        
     The annual incentive bonus program for executive officers is the principal
short-term incentive compensation program of the Corporation.  Cash bonuses are
paid following the conclusion of the Corporation's fiscal year.  These cash
bonus awards are based upon the extent to which the Corporation meets or exceeds
specified pretax profit thresholds designated by the Compensation Committee of
the Board of Directors at the beginning of the Corporation's fiscal year.  The
Committee establishes a threshold, target and maximum bonus payable for
specified levels of pretax profits for each executive officer.  The minimum and
maximum bonus amount for each executive officer is equal to 50% and 150%,
respectively, of the target bonus amount.