It is important for communication networks to possess the capability to overcome failures and provide survivable services. We address modeling and analysis of performability affected by both performance and availability of system components for a token ring network under failure and repair conditions. Stochastic reward nets (SRN) is an extension of stochastic Petri nets and provides compact modeling facilities for system analysis. In this paper, hierarchical SRN modeling techniques are used to overcome state largeness problem. The upper level model is used to compute availability and the lower level model captures the performance. And Normalized Throughput Loss (NTL) is obtained for the composite ring network for each node failures occurrence as a performability measure. One of the key contributions of this paper constitutes the Petri nets modeling techniques instead of complicate numerical analysis of Markov chains and easy way of performability analysis for a token ring network under SRN reward concepts.