Document:

Amendment to Employment Agreement

 Exhibit 4.20 

AMENDMENT TO EMPLOYMENT AGREEMENT ENTERED INTO IN THE CITY OF TAMARAC, STATE OF FLORIDA (THE “AGREEMENT”) 

 
  

			
	BY AND BETWEEN:	  	MAYORS JEWELERS, INC., a corporation duly incorporated according to the laws of the State of Delaware, having its head office at 5870 N. Hiatus Road, Tamarac, Florida
33321, USA, herein acting and represented by Lorenzo Rossi di Montelera, duly authorized for the purposes hereof as he hereby declares (hereinafter referred to as the “Employer”),
		
	AND:	  	THOMAS A. ANDRUSKEVICH, currently residing and domiciled at 3100 North Ocean Boulevard, Ft. Lauderdale, Florida USA (hereinafter referred to as the “Executive”).

 WHEREAS on April 16, 2008, the Employer and the Executive entered into an employment agreement
whereby the Employer renewed the employment of the Executive (the “Employment Agreement”); 
 WHEREAS the
Employer and Executive wish to extend the Employment Agreement for an additional term of one (1) year, and amend the Employment Agreement accordingly. 

NOW, THEREFORE, THIS AGREEMENT WITNESSETH AS FOLLOWS: 

1. Preamble. The preamble shall form an integral part hereof. 

2. Services. The following shall be added as new provisions after the second sentence in Section 2.2: 

“The EMPLOYER hereby acknowledges that the EXECUTIVE is on the Board of Directors of The Cole Property Trust III. The EXECUTIVE may
also consider other director positions with other entities provided that such positions do not interfere with his responsibilities as CEO and the acceptance of such positions shall be subject to the prior written approval of the Corporate Governance
Committee of the Board of Directors of BIRKS.” 
 3. Term. The Term, as set out in Section 3.1 of the Employment Agreement is
hereby extended for an additional period of one (1) year so that the Termination Date shall be March 31, 2012. As a result, all dates referred to in Section 3.3 and 3.4 of the Employment Agreement shall be amended by adding an
additional twelve (12) months thereto such that Section 3.3 and 3.4 of the Employment Agreement shall now read as follows: 
  

	 	3.3	The EMPLOYER will on or before March 31, 2011, provide a written notice to EXECUTIVE of its intention to either continue the employment of EXECUTIVE or terminate
the relationship on the Termination Date, failing which the EMPLOYER shall have deemed to have indicated its intention to terminate the relationship on the Termination Date. 

 Upon receiving the Notice of Intention from the EMPLOYER to continue or to terminate the
employment, EXECUTIVE shall, prior to the end of the Working Notice Period, indicate in writing to the EMPLOYER his decision to either retire or look for suitable employment. 

 

	 	(1)	In the event that the EMPLOYER elects or is deemed not to continue the employment of EXECUTIVE after the Termination Date, the period between March 31, 2011 and
March 31, 2012 shall be considered as a “Working Notice Period”. During that Period, the EXECUTIVE shall continue to be entitled to: 

  

	 	(a)	His same base salary as that which is payable to him pursuant to Section 4.1 during the period terminating March 31, 2012; 

 

	 	(b)	An annual cash bonus as determined and paid as per Section 4.3; 

  

	 	(c)	All benefits provided hereunder. 

During that “Working Notice Period”, the EXECUTIVE shall continue to provide services as requested by the EMPLOYER in which
case the EXECUTIVE shall be provided with sufficient time to find alternate employment during the “Working Notice Period” with commencement after the Termination Date. 

The EMPLOYER may waive the EXECUTIVE’s requirement to work during this Period. In such case, the EXECUTIVE is entitled only to the
amounts set forth in Subsections 3.3(1) and (2). 
  

	 	(2)	Should the EXECUTIVE be unable to find another suitable employment position commencing after the Termination Date, the EMPLOYER shall compensate EXECUTIVE for a period
up to a maximum of twelve (12) months by: 

  

	 	(a)	continuing to pay the EXECUTIVE the same base salary as that which was payable to him pursuant to Section 4.1 during the fiscal year terminating March 31,
2012; 

  

 - 2 - 

	 	(b)	paying a monthly bonus which shall be determined by calculating the average bonus paid to the EXECUTIVE for the three (3) prior fiscal years (being EMPLOYER fiscal
years ending in 2010, 2011 and 2012) and dividing by twelve (12), which bonus shall be paid on the first day of each month commencing once the bonus for 2012 has been determined in which case any unpaid months from April 1, 2012 to the date of
determination of the bonus shall be paid in full on such date; 

  

	 	(c)	maintaining in force all Mayors benefits to which EXECUTIVE is eligible, including but not limited to financial planning programs, life, disability, health, vision,
drug, and dental group insurance plans, and retirement arrangements as described in Section 4.5 and in which the EXECUTIVE is entitled to participate immediately prior to the expiration of the Term and provided that the EXECUTIVE’s
continued participation is possible under the general terms and provisions of such plans and programs. Where EXECUTIVE is not entitled to participate in a group health benefit plan, EMPLOYER will cover his expenses through COBRA for the medical,
dental and vision benefits but not cover any group insurance premiums for group life or group disability benefits through COBRA or through any other group insurance replacement program; 

 

	 	(d)	Provided the amount is not a duplication with the EXECUTIVE’s Birks Agreement, the EXECUTIVE shall be paid a maximum lump sum cash payment of $39,000 per annum,
which amount shall be paid within fifteen (15) days following the date of the expiration of the Term in full satisfaction of premium reimbursement of all supplemental disability and life insurance programs under Section 4.6 and described
in Exhibit C. EMPLOYER’s payment shall cease at the end of the termination of employment and the severance period; 

  

					
	3.4  	  	(1)	    	In the event that EXECUTIVE receives a notice of renewal from EMPLOYER, then the parties shall negotiate in good faith on the terms of such renewal. The parties may use the period
from April 1, 2011 to June 30, 2011 to attempt to reach agreement on the contractual terms of employment for a renewal period.

  

 - 3 - 

	 	(2)	Notwithstanding the foregoing, at any time after April 1, 2011 and prior to June 30, 2011: 

 

	 	(a)	The EXECUTIVE may, by written notice, advise the EMPLOYER of his intention not to renew his employment beyond March 31, 2012, in which case he will be deemed to
have resigned as of such date; or 

  

	 	(b)	The EMPLOYER may, by written notice, advise the EXECUTIVE of its intention to terminate the EXECUTIVE’s employment on March 31, 2012, which notice shall have
the same consequence as a notice under section 3.3, except that the Working Notice Period referred to in subsection 3.3(1) shall be a period of twelve (12) months calculated from the date of such notice and the “period up to a maximum of
twelve (12) months” referred to in subsection 3.3 (2) shall commence on the date that follows March 31, 2012 by the number of days that have elapsed between April 1, 2011 and the date of such notice.

 It is understood that during the period between the Termination Date of the Agreement (March 31, 2012) and the
end of the Working Notice Period that may extend beyond March 31, 2012, the EXECUTIVE shall continue to provide services as requested by the EMPLOYER in which case the EXECUTIVE shall be provided with sufficient time to find alternate
employment during the “Working Notice Period”. The EMPLOYER may waive the EXECUTIVE’s requirement to work during this period. In such case, the EXECUTIVE is entitled only to the amounts set forth in Subsections 3.3(1) and (2).

  

	 	(3)	Should no notice have been given pursuant to subsection 3.4(2) above, and in the event that the parties have not reached a written agreement by June 30, 2011, for
any reason whatsoever, then, unless the parties have otherwise agreed in writing, the EMPLOYER shall be deemed to have sent to the EXECUTIVE a notice to terminate the relationship on March 31, 2012, in which case the provisions of
Section 3.3 shall apply, except that the Working Notice Period referred to in subsection 3.3(1) shall be a period of twelve (12) months calculated from July 1, 2011 to June 30, 2012 and the “period up to a maximum of twelve
(12) months” referred to in subsection 3.3 (2) shall commence on July 1, 2012. 

 It is
understood that during the period between the Termination Date of the Agreement (March 31, 2012) and the end of the Working Notice Period that will end June 30, 2012, the EXECUTIVE shall continue to provide services as requested by the EMPLOYER
in which case the 
  

 - 4 - 

 
EXECUTIVE shall be provided with sufficient time to find alternate employment during the “Working Notice Period”. The EMPLOYER may waive the EXECUTIVE’s requirement to work during
this period. In such case, the EXECUTIVE is entitled only to the amounts set forth in Subsections 3.3(1) and (2). 
 4. Exhibit B shall be
replaced with the Exhibit B attached hereto. Section 5.4 shall be deleted and replaced as follows: 
 The stock appreciation
rights previously granted to the EXECUTIVE to purchase shares of BIRKS in accordance with a Stock Appreciation Rights Agreement dated August 9, 2005, granted pursuant to the Employer’s 2004 Long Term Incentive Plan, as amended on
March 16, 2010, shall remain exercisable until: 
  

	 	(i)	the second anniversary of the termination of employment with EMPLOYER for any reason other than retirement or for cause; or 

 

	 	(ii)	March 16, 2020, in the case of EXECUTIVE’s retirement; or 

  

	 	(iii)	the EXECUTIVE’s date of termination of employment, in the case of EXECUTIVE’s termination of employment with EMPLOYER for cause. 

5. Other Amendment. Subsection (iii) of Section 6.2 of the Employment Agreement shall be amended so that the
reference to “March 31st, 2010 and March 31st,
2011” shall be replaced with “March 31, 2011 and March 31, 2012.” 
 6. Retirement. The parties acknowledge that
should the Executive choose to retire from his employment with the Employer at the end of the Term Executive shall be allowed during his retirement to provide consulting services and accept positions as a Director of any company and shall still be
considered as having retired. 
 Retirement shall take effect at the end of the Working Notice Period. 

7. Other Terms. Except as expressly modified hereby, all terms and provisions of the Employment Agreement, shall remain unchanged and in full
force and effect. In the event of an inconsistency between the terms of this Agreement and the terms of the Employment Agreement, the terms hereof shall control. 

8. Governing Law. This Agreement shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the laws
of the State of Florida. 
 9. Inurement. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their
respective heirs, successors, administrators, representatives and assigns. 
  

 - 5 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
indicated below. 
  

							
	Signed this
30th day of June, 2010	 		 	MAYORS JEWELERS, INC.
				
		 		 	Per:	 	 /s/ Lorenzo Rossi di Montelera

		 		 		 	Lorenzo Rossi di Montelera
				
		 		 		 	 /s/ Thomas A. Andruskevich

	Signed this
30th day of June, 2010	 		 		 	THOMAS A. ANDRUSKEVICH

  

 - 6 - 

 EXHIBIT B 

GRANTS OF STOCK OPTIONS, STOCK
APPRECIATION RIGHTS 
 AND 

WARRANTS REGARDING SHARES OF BIRKS &
MAYORS INC. 
 AS AT JUNE 30, 2010

  

											
	 TYPE AND ORIGIN
	    	NUMBER	    	VESTING
STATUS
	    	PRICE	    	GRANT DATE
OR
ASSIGNMENT
DATE
	    	 EXPIRY DATE

	Stock options (pursuant to 1991 Stock Option Plan of Mayors Jewelers, Inc.)	    	130,425	    	FULLY
VESTED	    	US$3.23	    	10/01/2002	    	Earlier of (a) 10 years after grant (October 1, 2012) or (b) 2 years after termination
						
	 Mayors’ Stock Appreciation Rights (pursuant to 2004 Long Term Incentive Plan of Mayors Jewelers, Inc.)

 
 These are paid in cash or stock.
	    	17,390	    	FULLY
VESTED	    	US$1.00	    	Original
grant: 08/09/2005

amendment
date:

03/16/2010
	    	Earlier of (a) 10 years after the amendment (March 16, 2020); or (b) 2 years after termination for any reason other than retirement or for cause, or (c) March 16,
2020 in the case of retirement, or (d) on the date of termination in case of termination for cause.

 NOTE: The
EXECUTIVE also holds warrants to buy 131,209 shares of Birks & Mayors at US$3.34 per share which were assigned to him pursuant to the terms of an assignment agreement with Birks on January 31, 2003 and expire August 20, 2022.

  

 - 7 -Third Amendment and Consent to Credit Facility

 Exhibit 4.50 

EXECUTION VERSION 

THIRD AMENDMENT AND CONSENT TO 

AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT 

THIRD AMENDMENT AND CONSENT TO AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT, dated as of July 20, 2009 (this
“Amendment”), by and among (i) MAYOR’S JEWELERS, INC., a Delaware corporation (the “US Borrower”) and BIRKS & MAYORS INC., a Canadian corporation (the “Canadian
Borrower” and, together with the US Borrower, the “Borrowers”), (ii) the guarantors party to the Credit Agreement referred to below (the “Guarantors” and, together with the Borrowers, the “Loan
Parties”), (iii) the lenders party to the Credit Agreement referred to below (collectively, the “Lenders”), (iv) BANK OF AMERICA, N.A., in its capacity as administrative agent (the “Administrative
Agent”), and (v) BANK OF AMERICA, N.A. (acting through its Canada branch), as Canadian agent (the “Canadian Agent” and, together with the Administrative Agent, the “Agents”). Capitalized terms
used but not defined herein shall have the meanings ascribed to such terms in the Credit Agreement referred to below. 

WHEREAS, the Borrowers, the Guarantors, the Lenders, the Administrative Agent and the Canadian Agent are parties to the Amended
and Restated Revolving Credit and Security Agreement, dated as of December 17, 2008 (as amended, amended and restated, modified and in effect from time to time, the “Credit Agreement”), pursuant to which the Lenders have
extended credit to the Borrowers on the terms and subject to the conditions set forth therein; and 
 WHEREAS, pursuant
to the First Amendment and Consent to Amended and Restated Revolving Credit and Security Agreement, dated as of January 16, 2009, the Tranche A-1 Commitments of the Tranche A-1 Lenders were reduced by $2,000,000 from $11,000,000 to $9,000,000,
subject to the terms and conditions set forth therein; and 
 WHEREAS, the Borrowers have requested, among other things,
that the Tranche A-1 Commitments be further permanently reduced by an amount equal to $750,000 from $9,000,000 to $8,250,000, subject to the terms and conditions set forth herein; and 

WHEREAS, the Canadian Borrower has informed the Administrative Agent that the Canadian Borrower desires to form a wholly owned
Canadian Subsidiary and, substantially contemporaneously with the formation of such Subsidiary, to join such Subsidiary as a Guarantor under the Credit Agreement and the applicable Loan Documents and grant security interests in and Liens on such
Subsidiary’s assets, all as set forth in Section 10.1.9 of the Credit Agreement but without regard to the forty-five (45) day period identified in such Section 10.1.9; and 

WHEREAS, the Borrowers, the Lenders, and the Agents have agreed, on the terms and conditions set forth herein, to amend certain
provisions of the Credit Agreement; and 
 NOW, THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

§1. Amendment to Section 1.1 of the Credit Agreement. Section 1.1 of the Credit Agreement is hereby amended
by: 
 (a) Adding the following new definition of “Newco” in proper alphabetical order: 

“Newco – A wholly owned Subsidiary of the Canadian Borrower, which is to be formed under the laws of
Canada or such other jurisdiction acceptable to the Administrative Agent in its sole discretion.” 

 (b) Deleting clause (b)(ii) of the definition of “Canadian Borrowing
Capacity” in its entirety and replacing such clause with the following new clause (b)(ii): 
 “(ii) 92%
of the Appraised A/R Liquidation Value of Eligible Private Label and Corporate Accounts of the Canadian Borrower and Newco; plus” 

(c) Restating the definition of “Eligible Private Label and Corporate Accounts” in its entirety as follows:

 “Eligible Private Label and Corporate Accounts – Accounts due on the private label credit
card programs and all Accounts due from corporate sales receivables and wholesale receivables in each case, of the Borrowers, Henry U.S., Mayor’s Florida and Newco, in each case, which are deemed in the reasonable discretion of the
Administrative Agent to be eligible. The Administrative Agent shall act in good faith at all times when determining such eligibility.” 

(d) Restating the definition of “Intercompany Debt” in its entirety as follows: 

“Intercompany Debt – unsecured Debt of any Loan Party owing to another Loan Party; provided that
(i) all such Debt shall be evidenced by promissory notes and all such notes shall be subject to a Lien in favor of the Applicable Agent pursuant to the Security Documents, (ii) all such Debt shall be unsecured and subordinated in right of
payment to the Full Payment of the Obligations pursuant to the terms of the applicable promissory notes or an intercompany subordination agreement that in each such case, is satisfactory to the Administrative Agent, and (iii) any payment by any
such Loan Party to any other Loan Party under any guaranty of the Obligations or otherwise shall result in a pro tanto reduction of the amount of any Debt owed by such Loan Party to such other Loan Party for whose benefit such payment is
made; provided, further, that under no circumstances shall any Debt owing by Newco to any other Loan Party constitute Intercompany Debt hereunder.” 

§2. Amendment to Section 10.2.6 of the Credit Agreement. Section 10.2.6 of the Credit Agreement is hereby
amended by (i) deleting the word “and” immediately at the end of paragraph (b) therein; (ii) deleting the period at the end of paragraph (c) therein and substituting in lieu thereof “; and”; and
(iii) adding the following new paragraph (d) therein in the appropriate alphabetical order: 

“(d) The Borrowers shall be permitted to pay Gestofi SA fees and expenses in an aggregate amount not greater than
$250,000 in any Fiscal Year, payable monthly in arrears in equal monthly payments of up to $20,833.33, for services to be provided to the Borrowers by Mr. Niccolo Rossi, an employee of Gestofi SA, provided that no Default or Event of
Default shall have occurred and be continuing at the time of such payment or would result therefrom.” 

 §3. Amendment to Section 10.2.9 of the Credit Agreement.
Section 10.2.9 of the Credit Agreement is hereby amended by adding the following new paragraph (g) therein in the appropriate alphabetical order: 

“(g) A one-time Investment by the Borrowers in Newco, in an amount not to exceed $50,000.00, provided, that
(i) no Default or Event of Default shall be continuing under this Agreement at the time of such Investment or will result from such Investment and (ii) the Borrowers shall have caused Newco to join as a Guarantor under this Agreement and
the other applicable Loan Documents and to grant security interests in and Liens on Newco’s assets, all as set forth in Section 10.1.9 of this Agreement but without regard to the forty-five (45) day period identified in such
Section 10.1.9.” 
 §4. Amendment to Section 10.2.10 of the Credit Agreement.
Section 10.2.10 of the Credit Agreement is hereby amended by deleting clause (b) therein in its entirety and replacing it with the following new clause (b): 

“(b) the Term Loan Debt, the Brinkhaus Subordinated Debt, the Quebec Subordinated Debt or the Rhode Island Debt, in
each case prior to its due date under the agreements evidencing such Debt as in effect on the Closing Date, or the Montrovest Debt or the Additional Subordinated Debt prior to its due date under the Montrovest Debt Documents or the Additional
Subordinated Debt Documents relating to such Additional Subordinated Debt, as applicable, and as in effect on the date of entry thereof (in each case, or as amended thereafter in accordance with Section 10.2.11), unless otherwise
permitted pursuant to Section 10.2.12.” 
 §5. Amendment to Section 10.2.12 of the Credit
Agreement. Section 10.2.12 of the Credit Agreement is hereby amended by adding the following new paragraph (g) in the correct alphabetical order of such Section: 

“(g) Make any payments in respect of any Additional Subordinated Debt other than to the extent permitted pursuant to
the Subordination Agreement entered into in connection with such Additional Subordinated Debt.” 
 §6. Amendment
to Section 10.2.22 of the Credit Agreement. Section 10.2.22 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“10.2.22. Canadian Subsidiaries. Permit the Canadian Borrower to have any Subsidiary other than
the US Borrower, BME IPCO and Newco, provided that in respect of Newco, (i) in its reasonable discretion, the Administrative Agent shall have approved the formation of such Person in writing at least two (2) Business Days but no
more than seven (7) Business Days prior to the filing of any Organizational Documents with any Governmental Authority, (ii) substantially contemporaneously with the formation of Newco, the Borrowers shall have caused Newco to join as a
Guarantor under this Agreement and the applicable Loan Documents and to grant security interests in and Liens on Newco’s assets, all as set forth in Section 10.1.9 of this Agreement but without regard to the forty-five (45) day
period identified in such Section 10.1.9 and (iii) substantially contemporaneously with the opening of any Deposit Account (other than any Exempt Deposit Account) by Newco, the Borrowers shall have caused Newco and the relevant
Deposit Account Bank to enter into a Deposit Account Control Agreement as set forth in Section 7.4.2 of this Agreement.” 

§7. Amendment to Schedule 1.1(a) to the Credit Agreement. Schedule 1.1(a) to the Credit Agreement is hereby amended by
deleting such Schedule 1.1(a) in its entirety and substituting therefor Schedule 1.1(a) attached hereto as Exhibit A. 

 §8. Acknowledgment of Permanent Reduction in the Tranche A-1 Commitment.

 (a) Notwithstanding the limitations set forth in Section 2.2.2(b) of the Credit Agreement, each Lender
hereby agrees and consents, on a one time basis, to the permanent reduction of the Tranche A-1 Commitment by an amount equal to $750,000 from $9,000,000 to $8,250,000 and to the repayment of the Tranche A-1 Loans in an amount equal to $750,000.

 (b) Each Lender hereby acknowledges and agrees that, upon the effectiveness of this Amendment, such
Lender’s US Revolver Commitment, Canadian Revolver Commitment and Tranche A-1 Commitment shall be as set forth on Schedule 1.1(a) attached hereto as Exhibit A. 

§9. Representations and Warranties. Each of the Loan Parties hereby represents and warrants to the Agents and the
Lenders as of the date hereof as follows: 
 (a) The execution and delivery by each of the Loan Parties of this
Amendment and all other instruments and agreements required to be executed and delivered by such Loan Party in connection with the transactions contemplated hereby or referred to herein (collectively, the “Amendment
Documents”), and the performance by each of the Loan Parties of any of its obligations and agreements under the Amendment Documents and the Credit Agreement and the other Loan Documents, as amended hereby, are within the corporate or
other authority of such Loan Party, have been authorized by all necessary corporate proceedings on behalf of such Loan Party and do not and will not contravene any provision of law or such Loan Party’s charter, other incorporation or
organizational papers, by-laws or any stock provision or any amendment thereof or of any indenture, agreement, instrument or undertaking binding upon such Loan Party. 

(b) Each of this Amendment, the other Amendment Documents, the Credit Agreement and the other Loan Documents, as amended
hereby, to which any Loan Party is a party constitute legal, valid and binding obligations of such Loan Party, enforceable in accordance with their terms, except as limited by the Bankruptcy Code, any Canadian Debtor Relief Law, any other
insolvency, debtor relief or debt adjustment law or similar laws relating to or affecting generally the enforcement of creditors’ rights and except to the extent that availability of the remedy of specific performance or injunctive relief is
subject to the discretion of the court before which any proceeding therefore may be brought. 
 (c) No approval
or consent of, or filing with, any governmental agency or authority is required to make valid and legally binding the execution, delivery or performance by the Loan Parties of this Amendment, the Amendment Documents, the Credit Agreement or any
other Loan Documents, as amended hereby, or the consummation by the Loan Parties of the transactions among the parties contemplated hereby and thereby or referred to herein. 

(d) The representations and warranties contained in Section 9 of the Credit Agreement and in the other Loan Documents
were true and correct as of the date made. Except to the extent of changes resulting from transactions contemplated or permitted by the Credit Agreement and the other Loan Documents and except to the extent that any representations and warranties
relate expressly to an earlier date, after giving effect to the provisions hereof, such representations and warranties, both before and after giving effect to this Amendment, also are correct as of the date hereof. 

 (e) Each of the Loan Parties has performed and complied in all respects with
all terms and conditions herein required to be performed or complied with by it prior to or at the time hereof, and as of the date hereof, both before and after giving effect to the provisions of this Amendment and the other Amendment Documents,
there exists no Default or Event of Default. 
 (f) Each of the Loan Parties hereby acknowledges and agrees that
the representations and warranties contained in this Amendment shall constitute representations and warranties as referred to in Section 11.1(b) of the Credit Agreement, a breach of which shall constitute an Event of Default. 

§10. Consent to Formation of Newco. Subject to the conditions precedent set forth in Section 11 of this
Amendment, the Administrative Agent and the Lenders hereby consent, on a one-time basis, to the formation by the Canadian Borrower of a new wholly owned Subsidiary of the Canadian Borrower, provided that (i) in its reasonable discretion,
the Administrative Agent shall have approved the formation of such Person in writing at least two (2) Business Days but no more than seven (7) Business Days prior to the filing of any Organizational Documents with any Governmental
Authority, and (ii) substantially contemporaneously with the formation of such Subsidiary, the Borrowers shall have caused such Subsidiary to join as a Guarantor under the Credit Agreement and the applicable Loan Documents and to grant security
interests in and Liens on such Subsidiary’s assets, all as set forth in Section 10.1.9 of the Credit Agreement but without regard to the forty-five (45) day period identified in such Section 10.1.9. 

§11. Effectiveness. This Amendment shall become effective upon the satisfaction of each of the following conditions
which must occur on or prior to July 20, 2009 (the “Effective Date”), in each case in a manner satisfactory in form and substance to the Administrative Agent and the Lenders: 

(a) This Amendment shall have been duly executed and delivered by each of the Borrowers, each of the Guarantors, the
Administrative Agent, the Canadian Agent and each of the Lenders and shall be in full force and effect. 
 (b)
The Administrative Agent shall have received (i) a duly executed copy of the Second Amendment and Consent to Term Loan and Security Agreement, dated as of even date herewith, among the Borrowers, the guarantors party to the Term Loan Agreement,
the lenders party to the Term Loan Agreement and the Term Loan Agent and (ii) the consent from the Term Loan Agent to (A) the permanent reduction of the Tranche A-1 Commitments by an amount equal to $750,000 from $9,000,000 to $8,250,000
and (B) the amendment to the definitions of “Canadian Borrowing Capacity” and “Eligible Private Label and Corporate Accounts” as herein provided. 

(c) The Borrowers shall have duly executed and delivered amended and restated, if applicable, Tranche A-1 Notes to each of
the Tranche A-1 Lenders requesting such a Tranche A-1 Note. 
 (d) The Borrowers shall repay the Tranche A-1
Loans in an amount equal to $750,000 in immediately available funds to the Administrative Agent, for the pro rata accounts of the Tranche A-1 Lenders. 

(e) Pursuant to Section 2.2.2(d) of the Credit Agreement, the Borrowers shall pay in cash to the Administrative
Agent, for the pro rata accounts of the Tranche A-1 Lenders, an early reduction fee in an amount equal to $15,000. 

 (f) The Borrowers shall pay in cash to the Administrative Agent, for the pro
rata accounts of the Tranche A-1 Lenders, a fee in an amount equal to $37,083. 
 (g) The Borrowers shall have
paid all reasonable unpaid fees and expenses of the Administrative Agent’s counsel, Morgan, Lewis & Bockius, LLP, and the Canadian Agent’s counsel, Ogilvy Renault LLP, to the extent that copies of invoices for such fees and
expenses have been delivered to the Borrowers. 
 (h) The Administrative Agent and the Canadian Agent shall have
received such other items, documents, agreements, items or actions as the Administrative Agent or the Canadian Agent may reasonably request in order to effectuate the transactions contemplated hereby. 

§12. Release. In order to induce the Administrative Agent, the Canadian Agent and the Lenders to enter into this
Amendment, each Loan Party acknowledges and agrees that: (i) no Loan Party has any claim or cause of action against the Administrative Agent, the Canadian Agent, any Issuing Bank or any Lender (or, with respect to the Credit Agreement and the
other Loan Documents and the administration of the credit facilities thereunder, any of their respective directors, officers, employees, agents or representatives); (ii) no Loan Party has any offset or compensation right, counterclaim, right of
recoupment or any defense of any kind against any Loan Party’s obligations, indebtedness or liabilities to the Administrative Agent, the Canadian Agent, any Issuing Bank or any Lender; and (iii) each of the Administrative Agent, the
Canadian Agent, the Issuing Banks and the Lenders has heretofore properly performed and satisfied in a timely manner all of its obligations to the Borrowers and, as applicable, the Guarantors. Each Loan Party wishes to eliminate any possibility that
any past conditions, acts, omissions, events, circumstances or matters would impair or otherwise adversely affect any of the Administrative Agent’s, the Canadian Agent’s, the Issuing Banks’ and the Lenders’ rights, interests,
contracts, collateral security or remedies. Therefore, each Loan Party unconditionally releases, waives and forever discharges (A) any and all liabilities, obligations, duties, promises or indebtedness of any kind of the Administrative Agent,
the Canadian Agent, the Issuing Banks or any Lender to the any Loan Party, except the obligations to be performed by the Administrative Agent, the Canadian Agent, the Issuing Banks or any Lender on or after the date hereof as expressly stated in
this Amendment, the Credit Agreement and the other Loan Documents, and (B) all claims, counterclaims, offsets, compensation rights, causes of action, right of recoupment, suits or defenses of any kind whatsoever (if any), whether arising at law
or in equity, whether known or unknown, which any Loan Party might otherwise have against the Administrative Agent, the Canadian Agent, any Issuing Bank or any Lender (or, with respect to the Credit Agreement and the other Loan Documents and the
administration of the credit facilities thereunder, any of their respective directors, officers, employees or agents), in either case (A) or (B), on account of any past or presently existing (as of the date hereof) condition, act, omission,
event, contract, liability, obligation, indebtedness, claim, cause of action, defense, counterclaims, compensation rights, circumstance or matter of any kind. 

§13. Miscellaneous Provisions. 

(a) Each of the Loan Parties hereby ratifies and confirms all of its Obligations to the Administrative Agent, the Canadian
Agent, the Issuing Banks and the Lenders under the Credit Agreement, as amended hereby, and the other Loan Documents, including, without limitation, the Loans, and each of the Loan Parties hereby affirms its absolute and unconditional promise to pay
to the Lenders, the Administrative Agent and the Canadian Agent, as applicable, the Loans, reimbursement obligations and all other amounts due or to become due and payable to the Lenders, the Administrative Agent and the Canadian Agent, as
applicable, under the Credit Agreement and the other Loan Documents, as amended hereby and it is the intent of the parties hereto that nothing 

 
contained herein shall constitute a novation or accord and satisfaction. Each of the Loan Parties hereby acknowledges and confirms that the liens, hypothecs, pledges and security interests
granted pursuant to the Loan Documents are and continue to be valid, perfected and enforceable first priority liens, hypothecs, pledges and security interests (subject only to Permitted Liens) that secure all of the Obligations on and after the date
hereof. Except as expressly amended hereby, each of the Credit Agreement and the other Loan Documents shall continue in full force and effect. This Amendment and the Credit Agreement shall hereafter be read and construed together as a single
document, and all references in the Credit Agreement, any other Loan Document or any agreement or instrument related to the Credit Agreement shall hereafter refer to the Credit Agreement as amended by this Amendment. 

(b) Without limiting the expense reimbursement requirements set forth in Section 3.4 of the Credit Agreement, the
Borrowers agree to pay on demand all reasonable costs and expenses, including reasonable attorneys’ fees, of the Administrative Agent and the Canadian Agent, as applicable, incurred in connection with this Amendment. 

(c) THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING,
WITHOUT LIMITATION, NEW YORK GENERAL OBLIGATIONS LAW SECTIONS 5-1401 AND 5-1402 (BUT GIVING EFFECT TO FEDERAL LAWS RELATING TO NATIONAL BANKS). 

(d) EACH LOAN PARTY PARTY HERETO HEREBY CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF ANY FEDERAL COURT SITTING IN OR WITH
JURISDICTION OVER THE SOUTHERN DISTRICT OF NEW YORK AND OF ANY STATE COURT OF THE STATE OF NEW YORK SITTING IN THE COUNTY OF MANHATTAN, IN ANY PROCEEDING OR DISPUTE RELATING IN ANY WAY TO ANY LOAN DOCUMENTS, AND AGREES THAT ANY SUCH PROCEEDING SHALL
BE BROUGHT BY IT SOLELY IN ANY SUCH COURT. EACH LOAN PARTY PARTY HERETO IRREVOCABLY WAIVES ALL CLAIMS, OBJECTIONS AND DEFENSES THAT IT MAY HAVE REGARDING SUCH COURT’S PERSONAL OR SUBJECT MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM. Nothing
herein shall limit the right of any Agent or any Lender to bring proceedings against any Loan Party in any other court. Nothing in this Agreement shall be deemed to preclude enforcement by any Agent of any judgment or order obtained in any forum or
jurisdiction. 
 (e) This Amendment may be executed in any number of counterparts, and all such counterparts
shall together constitute but one instrument. In making proof of this Amendment it shall not be necessary to produce or account for more than one counterpart signed by each party hereto by and against which enforcement hereof is sought. Delivery of
a signature page hereto by electronic transmission shall constitute the delivery of an original signature page hereof. 

[Remainder of Page Intentionally Left Blank] 

[Signature Pages follow] 

 IN WITNESS WHEREOF, the undersigned have duly executed this Amendment as of the date
first set forth above. 
  

			
	US BORROWER AND BORROWER AGENT:
	
	MAYOR’S JEWELERS, INC.
		
	By:	 	 /s/ Michael Rabinovitch

	Name:	 	Michael Rabinovitch
	Title:	 	Senior Vice President & CFO
		
	By:	 	 /s/ Marco I. Pasteris

	Name:	 	Marco I. Pasteris
	Title:	 	Group Vice President, Finance & Treasurer
	
	CANADIAN BORROWER: 
	
	BIRKS & MAYORS INC.
		
	By:	 	 /s/ Michael Rabinovitch

	Name:	 	Michael Rabinovitch
	Title:	 	Senior Vice President & CFO
		
	By:	 	 /s/ Marco I. Pasteris

	Name:	 	Marco I. Pasteris
	Title:	 	Group Vice President, Finance & Treasurer

Signature Page to Third Amendment and Consent to Amended and Restated 

Revolving Credit and Security Agreement 

			
	GUARANTORS:
	
	 HENRY BIRKS & SONS U.S., INC.

MAYOR’S JEWELERS OF FLORIDA, INC.

JBM RETAIL COMPANY, INC.
 JBM VENTURE
CO., INC.
 MAYOR’S JEWELERS INTELLECTUAL

    PROPERTY HOLDING COMPANY

		
	By:	 	 /s/ Michael Rabinovitch

	Name:	 	Michael Rabinovitch
	Title:	 	Senior Vice President & CFO
		
	By:	 	 /s/ Marco I. Pasteris

	Name:	 	Marco I. Pasteris
	Title:	 	Group Vice President, Finance & Treasurer

Signature Page to Third Amendment and Consent to Amended and Restated 

Revolving Credit and Security Agreement 

			
	ADMINISTRATIVE AGENT:
	
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Mark D. Twomey

	Name:	 	Mark D. Twomey
	Title:	 	SVP

 Signature Page to Third
Amendment and Consent to Amended and Restated 
 Revolving Credit and Security Agreement 

			
	CANADIAN AGENT:
	
	BANK OF AMERICA, N.A. (acting through its Canada branch)
		
	By:	 	 /s/ Medina Sales de Andrade

	Name:	 	Medina Sales de Andrade
	Title:	 	Vice President

 Signature Page to
Third Amendment and Consent to Amended and Restated 
 Revolving Credit and Security Agreement 

			
	US LENDERS:
	
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Mark D. Twomey

	Name:	 	Mark D. Twomey
	Title:	 	SVP

 Signature Page to Third
Amendment and Consent to Amended and Restated 
 Revolving Credit and Security Agreement 

			
	US LENDERS:
	
	WELLS FARGO RETAIL FINANCE, LLC
		
	By:	 	 /s/ Connie Liu

	Name:	 	Connie Liu
	Title:	 	Assistant VP

 Signature Page to Third
Amendment and Consent to Amended and Restated 
 Revolving Credit and Security Agreement 

			
	US LENDERS:
	
	BANK OF MONTREAL CHICAGO BRANCH
		
	By:	 	 /s/ Larry Allan Swiniarski

	Name:	 	Larry Allan Swiniarski
	Title:	 	Vice President

 Signature Page to
Third Amendment and Consent to Amended and Restated 
 Revolving Credit and Security Agreement 

			
	CANADIAN LENDERS:
	
	BANK OF AMERICA, N.A. (acting through its Canada branch)
		
	 By:
	 	 /s/ Medina Sales de Andrade

	 Name:
	 	Medina Sales de Andrade
	 Title:
	 	Vice President

 Signature Page to
Third Amendment and Consent to Amended and Restated 
 Revolving Credit and Security Agreement 

			
	CANADIAN LENDERS:
	
	WELLS FARGO FOOTHILL CANADA ULC
		
	 By:
	 	 /s/ Francis D. O’Connor

	 Name:
	 	Francis D. O’Connor
	 Title:
	 	Senior Vice President

 Signature Page
to Third Amendment and Consent to Amended and Restated 
 Revolving Credit and Security Agreement 

			
	CANADIAN LENDERS:
	
	BANK OF MONTREAL
		
	By:	 	 /s/ Gary Karges

	Name:	 	Gary Karges
	Title:	 	Director, Corporate Finance
		
	By:	 	 /s/ Gary B. Still

	Name:	 	Gary B. Still
	Title:	 	Senior Manager

 Signature Page to
Third Amendment and Consent to Amended and Restated 
 Revolving Credit and Security Agreement 

			
	TRANCHE A-1 LENDERS:
	
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Mark D. Twomey

	Name:	 	Mark D. Twomey
	Title:	 	SVP

 Signature Page to Third
Amendment and Consent to Amended and Restated 
 Revolving Credit and Security Agreement 

			
	TRANCHE A-1 LENDERS:
	
	WELLS FARGO RETAIL FINANCE, LLC
		
	 By:
	 	 /s/ Connie Liu

	 Name:
	 	Connie Liu
	 Title:
	 	Assistant VP

 Signature Page to Third
Amendment and Consent to Amended and Restated 
 Revolving Credit and Security Agreement 

			
	TRANCHE A-1 LENDERS:
	
	BANK OF MONTREAL CHICAGO BRANCH
		
	 By:
	 	 /s/ Larry Allan Swiniarski

	 Name:
	 	Larry Allan Swiniarski
	 Title:
	 	Vice President

 Signature Page to
Third Amendment and Consent to Amended and Restated 
 Revolving Credit and Security Agreement 

 RATIFICATION OF GUARANTY 

Without limiting the provisions of the foregoing Amendment and any agreement of any Guarantor made therein, each of the undersigned
Guarantors hereby (a) acknowledges and consents to the foregoing Amendment and the Borrowers’ execution thereof; (b) ratifies and confirms all of their respective obligations and liabilities under the Loan Documents to which any of
them is a party and ratifies and confirms that such obligations and liabilities extend to and continue in effect with respect to, and continue to guarantee and secure, as applicable, the Obligations of the Borrowers under the Credit Agreement;
(c) joins the foregoing Amendment for the purpose of consenting to and being bound by the provisions of Section 9 and Section 12 thereof; and (d) acknowledges and confirms that the liens, hypothecs, pledges and security interests
granted pursuant to the Loan Documents are and continue to be valid, perfected and enforceable first priority liens, hypothecs, pledges and security interests (subject only to Permitted Liens) that secure all of the Obligations on and after the date
hereof. 
  

			
	GUARANTORS:
	
	 HENRY BIRKS & SONS U.S., INC.

MAYOR’S JEWELERS OF FLORIDA, INC.

JBM RETAIL COMPANY, INC.
 JBM VENTURE
CO., INC.
 MAYOR’S JEWELERS INTELLECTUAL

    PROPERTY HOLDING COMPANY

		
	By:	 	 /s/ Michael Rabinovitch

	Name:	 	Michael Rabinovitch
	Title:	 	Senior Vice President & CFO
		
	By:	 	 /s/ Marco I. Pasteris

	Name:	 	Marco I. Pasteris
	Title:	 	Group Vice President, Finance & Treasurer

Signature Page to Third Amendment and Consent to Amended and Restated 

Revolving Credit and Security Agreement 

 SCHEDULE 1.1(A) 

COMMITMENTS OF THE LENDERS 

US Revolver Commitments 
  

					
	 US Lenders
	 	 US Revolver Commitment
	 	 Pro Rata US Revolver

Commitment

	 Bank of America, N.A.

	 	$78,000,000.00	 	62.9032258065%
			
	 Wells Fargo Retail Finance, LLC
	 	$27,600,000.00	 	22.2580645161%
			
	 Bank of Montreal Chicago Branch
	 	$18,400,000.00	 	14.8387096774%
			
	 Total:
	 	$124,000,000.001
	 	100.0000000000%

 Canadian Revolver
Commitments 
  

					
	 Canadian Lenders
	 	 Canadian Revolver

Commitment
	 	 Pro Rata Canadian Revolver

Commitment

	 Bank of America, N.A.

(acting through its Canada branch)
	 	CD$78,000,000.00	 	62.9032258065%
			
	 Wells Fargo Foothill Canada ULC
	 	CD$27,600,000.00	 	22.2580645161%
			
	 Bank of Montreal
	 	CD$18,400,000.00	 	14.8387096774%
			
	 Total:
	 	CD$124,000,000.001
	 	100.0000000000%

 Tranche A-1 Commitments

  

					
	 Tranche A-1 Lenders
	 	 Tranche A-1 Commitment
	 	 Pro Rata Tranche A-1

Commitment

	 Bank of America, N.A.
	 	5,250,000.03	 	63.6363636364 %
			
	 Wells Fargo Retail Finance, LLC
	 	1,800,000.02	 	21.8181818182%
			
	 Bank of Montreal Chicago Branch
	 	1,199,999.95	 	14.5454545454%
			
	 Total:
	 	$8,250,000.00	 	100.0000000000%

  

	1	
Notwithstanding the foregoing, as of the
Closing Date, the Total Revolver Commitments shall be $124,000,000.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]