Document:

Exhibit 10.2

 

ZALE CORPORATION

2005 OUTSIDE DIRECTORS’ STOCK INCENTIVE PLAN

STOCK OPTION

PLAN AGREEMENT

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Social Security Number

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Participant

  	
   

  	
  Grant Date

  	
   

  	
  Number of Options

  	
   

  	
  Option Exercise Price

  

 

	
  Grant

  	
   

  	
  Zale Corporation (the “Company”) hereby grants to the Participant
  named above, as of the grant date above, the above number of Options to
  purchase common stock of the Company (“Company Stock”) at the above option
  exercise price subject to the terms and conditions set forth in this Plan
  Agreement and in the Zale Corporation 2005 Outside Directors’ Stock Incentive
  Plan (the “Plan”).

  
	
  Vesting

  	
   

  	
  Each Option shall become cumulatively exercisable as to 25 percent of
  the shares covered thereby on each of the first, second, third and fourth
  anniversaries of the date of grant.

  
	
  Expiration

  	
   

  	
  The expiration date of each Option shall be ten years after the date
  of grant; provided, however, that if the expiration date would
  occur during a period in which the Participant is prohibited from trading in
  the Company Stock pursuant to the provisions of the Company’s insider trading
  policy, then the expiration date shall be extended and such Option shall
  expire on the 30th day after
  the prohibition against trading under the Company’s insider trading policy
  has ceased to be in effect.

  
	
  Exercise

  	
   

  	
  An Option may be exercised for all or any portion of the shares as to
  which it is exercisable; provided, that no partial exercise of an Option
  shall be for an aggregate exercise price of less than $1,000.

  

  An Option shall be exercised
  by delivering notice to Zale Corporation Investor Relations, MS 5A-8, P.O. Box
  152777, Irving, Texas 75015-2777 no less than one business day in advance of
  the effective date of the proposed exercise (Please call Investor Relations
  for the proper form). Such notice shall be accompanied by this Plan
  Agreement, and may be withdrawn at any time prior to the close of business on
  the business day immediately preceding the effective date of the proposed
  exercise. Payment for shares of Company Stock purchased upon the exercise of
  an Option shall be made on the effective date of such exercise by cash,
  certified check, bank cashier’s check or wire transfer.

  
Certificates for shares of Company
  Stock purchased upon the exercise of an Option shall be issued in the name of
  the Participant, or other person entitled to receive such shares, and
  delivered to the Participant or such other person as soon as practicable
  following the effective date on which the Option is exercised.

  

 

 

	
  Resignation or Removal

  	
   

  	
  Other than Cause, Disability or Death - In the event of Participant’s
  resignation or removal as a director of the Company for any reason other than
  Cause, Disability or death (i) Options granted to such Participant, to
  the extent that they were exercisable at the time of such resignation or
  removal, shall remain exercisable until the date that is three months after
  such resignation or removal, on which date they shall expire, and (ii) Options
  granted to such Participant, to the extent they were not exercisable at the
  time of such resignation or removal, shall expire at the close of business on
  the date of such resignation or removal. The three-month period described
  above shall be extended to one year in the event of the Participant’s death
  during such three-month period. Notwithstanding the foregoing, no Option
  shall be exercisable after the expiration of its term.

  
	
   

  	
   

  	
  Disability or Death - In the event of Participant’s resignation or removal as a director
  of the Company on account of the Disability or death of the Participant (i) Options
  granted to such Participant, to the extent they were exercisable at the time
  of such resignation or removal, shall remain exercisable until the first
  anniversary of such resignation or removal, on which date they shall expire,
  and (ii) Options granted to such Participant, to the extent that they
  were not exercisable at the time of such resignation or removal, shall expire
  at the close of business on the date of such resignation or removal;
  provided, however, that no Option shall be exercisable after the expiration
  of its term.

  

  Cause - In the event of Participant’s
  resignation or removal as a director of the Company for Cause, all
  outstanding Options granted to such Participant shall expire at the
  commencement of business on the date of such termination.

  
	
  Miscellaneous

  	
   

  	
  Upon the occurrence of a Change in Control, each Option granted under
  the Plan and outstanding at such time shall become fully and immediately
  exercisable and shall remain exercisable until its expiration, termination or
  cancellation pursuant to the terms of the Plan.

  

  Capitalized terms not
  otherwise defined herein shall have the meanings assigned to them in the
  Plan.

  
	
   

  	
  Zale Corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Authorized Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  I hereby agree to be bound by all the terms and  conditions of this Plan Agreement and the
  Plan.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ParticipantExhibit 10.3

 

ZALE CORPORATION

2005 OUTSIDE DIRECTORS’ STOCK INCENTIVE PLAN

RESTRICTED STOCK

PLAN AGREEMENT

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Participant

  	
   

  	
  Issue Date

  	
   

  	
  Number of Shares

  	
   

  	
  Social Security Number

  

 

	
  Grant

  	
   

  	
  Zale Corporation (the “Company”) has issued to the Participant named
  above, as of the Issue Date, the above number of shares of common stock of
  the Company (the “Restricted Stock”) subject to the terms and conditions set
  forth in this Plan Agreement and in the Zale Corporation 2005 Outside
  Directors’ Stock Incentive Plan (the “Plan”).

  
	
  Issue Date

  	
   

  	
  The Issue Date for the shares of Restricted Stock granted to the
  Participant pursuant to this Plan Agreement (the “Restricted Shares,” or a
  “Restricted Share”) shall be the date set forth above.

  
	
  Issuance of Certificates

  	
   

  	
  Reasonably promptly after the Issue Date, the Company shall cause to
  be issued a stock certificate, registered in the name of the Participant,
  evidencing the Restricted Shares; provided, however, that the Company shall
  not cause such a stock certificate to be issued unless it has received a
  stock power duly endorsed in blank with respect to such Restricted Shares.
  Each such stock certificate shall bear the legend required by
  Section 8(e) of the Plan. Such legend shall not be removed until
  such Restricted shares vest pursuant to the terms of this Plan Agreement and
  the Plan.

  
	
   

  	
   

  	
  The stock certificate issued with respect to the Restricted Shares,
  together with the stock powers relating to such Restricted Shares, shall be
  held by the Company.

  
	
  Vesting Date(s)

  	
   

  	
  The Restricted Shares shall vest in full on the first anniversary of
  the Issue Date (the “Vesting Date”).

  
	
  Consequences of Vesting

  	
   

  	
  Upon the vesting of a Restricted Share pursuant to the terms of the
  Plan and this Plan Agreement, the restrictions set forth below relating to
  such Restricted Shares shall cease to apply to such Restricted Share.
  Reasonably promptly after a Restricted Share vests, the Company shall cause
  to be delivered to the Participant a certificate evidencing such Restricted
  Share, free of the legend required by Section 8(e) of the Plan.
  Notwithstanding the foregoing, the Restricted Share still may be subject to
  restrictions on transfer as a result of applicable securities laws.

  
	
  Dividends

  	
   

  	
  The Participant shall be entitled to receive dividend payments, if
  any, with respect to the Restricted Shares.

  
	
  Restrictions

  	
   

  	
  Prior to the vesting of a Restricted Share, no transfer of the
  Participant’s rights with respect to such Restricted Share, whether voluntary
  or involuntary, by operation of law or otherwise, shall be permitted.
  Immediately upon any attempt to transfer such rights, such Restricted Share,
  and all of the rights related thereto, shall be forfeited by the Participant.

  

 

 

	
  Resignation or Removal

  	
   

  	
  Other than Cause - During the 90 days following termination of a Participant’s
  resignation or removal as a director of the Company for any reason other than
  Cause, the Company shall have the right to require the return of any
  Restricted Shares to which restrictions on transferability apply, in exchange
  for which the Company shall repay to the Participant (or the Participant’s
  estate) any amount paid by the Participant for such Restricted Shares.

  
	
   

  	
   

  	
  Cause - In
  the event of Participant’s resignation or removal as a director of the
  Company for Cause, all Restricted Shares granted to the Participant which
  have not vested as of the date of such resignation or removal shall
  immediately be returned to the Company, together with any dividends paid on
  such Restricted Shares.

  
	
  No Section 83(b) Elections

  	
   

  	
  The Participant shall not file with the Internal Revenue Service an
  election under Section 83(b) of the Internal Revenue Code of 1986,
  as amended (i.e., an election to include in gross income in the year of
  issuance of the Restricted Shares the amounts specified in such
  Section 83(b)).

  
	
  Misc.

  	
   

  	
  Upon the occurrence of a Change in Control, all outstanding
  Restricted Shares which have not theretofore vested shall immediately vest.

  

  Capitalized terms not
  otherwise defined herein shall have the meanings assigned to them in the
  Plan.

  
	
   

  	
   

  	
  Zale
  Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Authorized
  Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  I hereby agree to be bound by all the terms
  and conditions of this Plan Agreement and the Plan.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Participant

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00093-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00093-of-00352.parquet"}]]