Document:

EX-4.37

 EXHIBIT 4.37 

Execution Version 

AMENDMENT NO. 1 TO THE CREDIT AGREEMENT 

THIS AMENDMENT NO. 1 TO THE CREDIT AGREEMENT is made as of April 18, 2019, by and among the lenders identified on
the signature pages hereof (each of such lenders, together with its successors and permitted assigns, is referred to hereinafter as a “Lender”), CRYSTAL FINANCIAL LLC, as administrative agent for each member of the
Lender Group (in such capacity, together with its successors and assigns in such capacity, “Agent”) and BIRKS GROUP INC., and together with each other Person organized under the laws of Canada or a province thereof that joins
under the Credit Agreement as a “Borrower” in accordance with the terms of the Credit Agreement after the date hereof (each, a “Borrower” and all references herein to “Borrower” shall include each such additional
Borrower who so joins). 
 WHEREAS the Borrower and the Agent are parties to a Credit Agreement dated as of
June 29, 2018 (as amended, supplemented, restated or otherwise modified from time to time, the “Credit Agreement”); 

AND WHEREAS the Borrower is proposing to enter into the Damiani Inventory Purchase Agreement (as defined herein) with
Damiani International S.A. and Damiani S.p.A.; 
 AND WHEREAS in connection with the Credit Agreement the Borrower,
Damiani International S.A. and Damiani S.p.A., the Agent, the Revolving Agent and Cash, Gold & Silver Inc. have entered into the Damiani Subordination Agreement (as defined herein), pursuant to which, inter alia, Damiani
International S.A. and Damiani S.p.A. agreed that all Damiani Subordinated Indebtedness (as defined herein) owing by the Borrower to Damiani is subordinate to all indebtedness owing by the Borrower to the Lender pursuant to or in connection with the
Credit Agreement on the terms set out in the Damiani Subordination Agreement and that the Damiani Security (as defined herein) for the Subordinated Indebtedness is subordinate to the security constituted by the Loan Documents; 

AND WHEREAS the Borrower has requested certain amendments to the Credit Agreement in connection with the Damiani
Inventory Purchase Agreement and the other Damiani Purchase Documents (as defined herein); 
 AND WHEREAS in
connection with the foregoing, the parties hereto agree to make certain amendments to the Credit Agreement; 
 NOW
THEREFORE THIS AGREEMENT WITNESSES that, in consideration of the mutual covenants and agreements contained in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is
agreed by the parties hereto as follows: 
 ARTICLE 1 

DEFINITIONS AND INTERPRETATION 

1.1    Definitions. All capitalized terms used in this Agreement that are defined in the Credit Agreement
have the meanings ascribed to them in the Credit Agreement, except to the extent that such terms are defined or modified in this Agreement, or the context otherwise requires. In addition, the following terms have the following meanings: 

 “Credit Agreement” has the meaning specified therefor in
the recitals hereto. 
 “this Agreement” means this Amendment No. 1 to the Credit Agreement, as it may
be amended, supplemented, restated or otherwise modified from time to time. 
 ARTICLE 2 

AMENDMENTS TO CREDIT AGREEMENT 

2.1    Effective as of the Effective Date (as defined below), the Credit Agreement is hereby amended as follows:

  

	 	(a)	 Schedule 1.1 (Definitions) is hereby amended as follows: 

 

	 	(i)	 The following definition are added to the Credit Agreement immediately after the definition of Credit Card
Receivables: 

 “Damiani” means, collectively, Damiani International S.A., a corporation
incorporated under the laws of Switzerland, and Damiani S.p.A., a corporation incorporated under the laws of Italy. 

“Damiani Inventory Purchase Agreement” means the inventory purchase agreement between the Borrower and
Damiani dated as of April 18, 2019, as the same may be modified, amended, supplemented or restated in accordance with the prior written consent of the Agent. 

“Damiani Purchase Documents” means the Damiani Inventory Purchase Agreement, the Damiani Security, the
Damiani Subordination Agreement and all documents, instruments and agreements executed from time to time in connection with the Damiani Inventory Purchase Agreement, including the purchase orders arising thereunder and the documents and agreements
giving effect to the Damiani Security, in each case as the same may be modified, amended, supplemented or restated with the prior written consent of the Agent. 

“Damiani Security” means (a) the General Security Agreement and Hypothec dated as of April 18, 2019
between the Borrower and Damiani; and (b) any other present and future security, security interests, hypothecs, mortgages, prior claims, liens or charges affecting the Obligors’ assets, or any part thereof, now or hereafter held by or for
the account of Damiani as security for the Damiani Subordinated Indebtedness created after the date hereof with the consent of the Agent. 

  
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 “Damiani Subordinated Indebtedness” means all present and
future indebtedness and other liabilities and obligations, contingent or absolute, matured or unmatured, at any time due or accruing due, owing by the Obligors, or any of them, whether alone or with another or others and whether as principal or
surety, to Damiani under the Damiani Purchase Documents including in respect of all transactions made pursuant thereto. 

“Damiani Subordination Agreement” means that certain Subordination Agreement, dated as of April 18, 2019,
among the Borrower, Damiani, the Agent, the Term Loan Agent and Cash, Gold & Silver Inc., as the same may hereafter be amended, restated, supplemented or otherwise modified with the prior written consent of Agent. 

 

	 	(ii)	 The definition of “Material Contract” is amended by deleting the “and”
immediately before “(ix)” and adding “and (x) the Damiani Debt Documents” at the end thereof. 

  

	 	(iii)	 The “and” is deleted from the end of paragraph (z) of the definition of “Permitted
Liens” and “; and” is substituted for the “.” at the end of paragraph (aa) and the following is added immediately thereafter: 

(bb) Liens created by the Damiani Security in favour of Damiani securing the Damiani Subordinated Indebtedness;
provided that (i) such Subordinated Indebtedness is subordinated in right and time of payment to the Obligations and such Liens shall, at all times, be subordinate and junior in priority to the Liens securing the Obligations, in each
case pursuant to the terms of the Damiani Subordination Agreement or other terms and conditions satisfactory to the Agent and Required Lenders. 
  

	 	(b)	 Section 6.6(a) (Prepayments and Amendments) is amended by adding the following paragraph
(iii) at the end thereof: 

 (iii)    make any payment on account of the Damiani
Subordinated Indebtedness other than payments in the amounts and on the due dates therefor set out in the Damiani Inventory Purchase Agreement provided that any such payment is permitted to be made at such time under the Damiani Subordination
Agreement. 
  

	 	(c)	 Section 6.6(b)(i) (Prepayments and Amendments) is amended by adding the “the Damiani
Purchase Documents,” after the reference to “Quebec Subordinated Debt Documents,”. 

  

	 	(d)	 The final paragraph of Section 6.6 (Prepayments and Amendments) is amended by adding the
“the Damiani Purchase Documents,” after the reference to “Quebec Subordinated Debt Documents,”. 

  

	 	(e)	 The following new Section is added immediately after Section 8.7 (Default Under Other
Agreements), and each subsequent Subsection is re-numbered accordingly thereafter: 

  
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 8.8.    Default Under Damiani Purchase
Documents. If (i) the Borrower fails to make any payment when due and payable under the Damiani Inventory Purchase Agreement or if there is a material breach or default by a Loan Party or any of its Subsidiaries under any of the Damiani
Purchase Documents and, in each case, such failure, breach or default continues for a period of at least thirty (30) days, (ii) any Damiani Subordinated Indebtedness shall become or be declared to be due and payable, or be required to be
prepaid (other than by a scheduled or required payment in accordance with the terms of the Damiani Inventory Purchase Agreement), prior to the stated due date thereof (iii) any action is taken by Damiani to initiate the commencement of a
Standstill Period (as defined in the Damiani Subordination Agreement) or (iv) the validity or enforceability of the Damiani Subordination Agreement shall at any time for any reason (other than solely as the result of an action or failure to act
on the part of Agent) be declared to be null and void, or Damiani or any of its Affiliates or agents shall be permitted (by judicial order or otherwise) to take enforcement actions or institute any proceeding (including for the return of Inventory)
against any Obligor or any Assets in violation of the Damiani Subordination Agreement; 
 ARTICLE 3 MISCELLANEOUS PROVISIONS 

3.1    Conditions to Effectiveness. This Agreement shall become effective as of the date upon which all of
the following conditions have been satisfied (the “Effective Date”): 
  

	 	(a)	 Agent shall have received this Agreement or counterparts hereof duly executed and delivered by the Borrower,
the Agent and Lender, all in accordance with Section 14.1 of the Credit Agreement; 

  

	 	(b)	 Agent shall have received the Damiani Subordination Agreement duly executed and delivered by each of
Borrower, Damiani and the Term Loan Agent; 

  

	 	(c)	 Agent shall have received copies of the Damiani Security and the Damiani Inventory Purchase Agreement duly
executed and delivered by each of the parties thereto, in form and substance reasonably satisfactory to Agent; 

  

	 	(d)	 Agent shall have received a copy of an amendment to the Revolving Credit Agreement duly executed and
delivered by each of the parties thereto, in form and substance reasonably satisfactory to Agent; 

  

	 	(e)	 no Default or Event of Default shall have occurred and be continuing on the Effective Date, nor shall either
result from giving effect to the terms of this Agreement or the Damiani Purchase Documents and the transactions contemplated thereunder; 

  

	 	(f)	 the representations and warranties of the Loan Parties or their respective Subsidiaries contained in this
Agreement and in the other Loan Documents shall be true and correct in all material respects (except that such materiality qualifier shall 

  
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not be applicable to any portion of any representation and warranty that is already qualified or modified by materiality in the text thereof) on such date (except to the extent that such
representations and warranties relate solely to an earlier date); and 

  

	 	(g)	 all action on the part of the Loan Parties necessary for the valid execution, delivery and performance by
the Borrower of this Agreement shall have been duly and effectively taken. 

3.2    Representations and Warranties. The Borrower represents and warrants to the Lender Group and the
Agent that, as of the date hereof, this Agreement has been duly authorized, executed and delivered by the Borrower and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as enforceability
thereof may be limited by bankruptcy, insolvency, reorganization, fraudulent transfer, moratorium or other similar laws affecting creditors’ rights generally and general principles of equity (regardless of whether such enforceability is
considered in a proceeding at law or in equity). 
 3.3    Continuance of the Loan Documents and the Credit
Agreement. The Credit Agreement and the other Loan Documents, as changed, altered, amended or modified by this Agreement, shall be and continue in full force and effect and is hereby confirmed and the rights and obligations of all parties
thereunder shall not be affected or prejudiced in any manner except as specifically provided for in this Agreement. 

3.4    Confirmation of Existing Security. Borrower acknowledges and confirms that notwithstanding the
execution of this Agreement, each of the existing security documents that Borrower has executed in favour of Agent for each member of the Lender Group and each of the Bank Product Providers (i) remains in full force and effect and has not been
terminated discharged or released, (ii) constitutes legal valid and binding obligation of Borrower enforceable against Borrower under the laws of the Province of Ontario (or other governing law specified therein) and the laws of Canada
applicable therein in accordance with its terms, subject to applicable bankruptcy insolvency and other laws of general application limiting the enforceability of creditors rights and (iii) continues to stand as valid and enforceable security
subject to the qualifications set forth above for the Obligations. 
 3.5    Reservation of Rights. Agent
and Lender Group hereby expressly reserve all of their available rights, remedies and claims in their entirety, any of which may be exercised or otherwise pursued at any time, and from time to time, in the sole and absolute discretion of
Agent or Lender Group in accordance with the Credit Agreement, the other Loan Documents, or at law or in equity. 

3.6    Reference to and Effect on the Credit Agreement. On and after the Effective Date, each reference in
the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, “hereto”, “hereby” and similar expressions, and each reference to “the Credit Agreement” and “the
Agreement” in any Schedule to the Credit Agreement and, unless the context otherwise requires, any Loan Documents shall mean and refer to the Credit Agreement, as amended by this Agreement. 

3.7    Cost and Expenses. Borrower agrees to pay on demand all reasonable costs and expenses of the Agent or
any Lender in connection with the preparation, negotiation, execution, delivery, 

  
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and administration of this Agreement and related documents including, without limitation, the reasonable fees and
out-of-pocket expenses of Proskauer Rose LLP, counsel for the Agent or any Lender with respect thereto and with respect to advising the Agent or any Lender as to its
rights and responsibilities hereunder. 
 3.8    Section Headings. Headings and numbers have been set
forth herein for convenience only. Unless the contrary is compelled by the context, everything contained in each Section applies equally to this entire Agreement. 

3.9    Interpretation. To the fullest extent permitted by applicable law, neither this Agreement nor any
uncertainty or ambiguity herein shall be construed against the Agent, the Lender Group or the Borrower, whether under any rule of construction or otherwise. On the contrary, this Agreement has been reviewed by all parties and shall be construed and
interpreted according to the ordinary meaning of the words used so as to accomplish fairly the purposes and intentions of all parties hereto. 

3.10    Severability of Provisions. Each provision of this Agreement shall be severable from every other
provision of this Agreement for the purpose of determining the legal enforceability of any specific provision. 

3.11    Counterparts; Electronic Execution. This Agreement may be executed in any number of counterparts and
by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement. Delivery of an executed counterpart
of this Agreement by facsimile or other electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Agreement. Any party delivering an executed counterpart of this Agreement by facsimile or
other electronic method of transmission also shall deliver an original executed counterpart of this Agreement but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this
Agreement. The foregoing shall apply to each other Loan Document mutatis mutandis. 
 3.12    Governing
Law. 
 THE VALIDITY OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (UNLESS EXPRESSLY PROVIDED TO THE CONTRARY IN ANOTHER LOAN DOCUMENT
IN RESPECT OF SUCH OTHER LOAN DOCUMENT), THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF AND THEREOF, THE RIGHTS OF THE PARTIES HERETO AND THERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER OR THEREUNDER OR RELATED HERETO OR THERETO, AND
ANY CLAIMS, CONTROVERSIES OR DISPUTES ARISING HEREUNDER OR THEREUNDER OR RELATED HERETO OR THERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE PROVINCE OF ONTARIO AND THE FEDERAL LAWS OF CANADA APPLICABLE
THEREIN. 
 THE PARTIES AGREE THAT ALL ACTIONS OR PROCEEDINGS ARISING IN CONNECTION WITH THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS SHALL
BE TRIED AND LITIGATED ONLY IN THE PROVINCE OF ONTARIO; PROVIDED, THAT 

  
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ANY SUIT SEEKING ENFORCEMENT AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE BROUGHT, AT AGENT’S OPTION, IN THE COURTS OF ANY JURISDICTION WHERE AGENT ELECTS TO BRING SUCH ACTION OR WHERE
SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND. BORROWER AND EACH MEMBER OF THE LENDER GROUP WAIVE, TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, ANY RIGHT EACH MAY HAVE TO ASSERT THE DOCTRINE OF FORUM NON CONVENIENS OR TO OBJECT TO VENUE TO THE
EXTENT ANY PROCEEDING IS BROUGHT IN ACCORDANCE WITH THIS SECTION 3.12. 
 TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, BORROWER
AND EACH MEMBER OF THE LENDER GROUP HEREBY WAIVE THEIR RESPECTIVE RIGHTS, IF ANY, TO A JURY TRIAL OF ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION DIRECTLY OR INDIRECTLY BASED UPON OR ARISING OUT OF ANY OF THE LOAN DOCUMENTS OR ANY OF THE
TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS (EACH A “CLAIM”). BORROWER AND EACH MEMBER OF THE LENDER GROUP REPRESENT THAT EACH HAS
REVIEWED THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. IN THE EVENT OF LITIGATION, A COPY OF THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 

BORROWER HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE COURTS LOCATED IN THE PROVINCE OF ONTARIO, IN ANY
ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE
ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT AGENT MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO
THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
 NO CLAIM MAY BE
MADE BY ANY LOAN PARTY AGAINST AGENT, ANY SWING LENDER, ANY OTHER LENDER, ANY ISSUING LENDER, OR ANY AFFILIATE, DIRECTOR, OFFICER, EMPLOYEE, COUNSEL, REPRESENTATIVE, AGENT, OR
ATTORNEY-IN-FACT OF ANY OF THEM FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES OR LOSSES IN RESPECT OF ANY CLAIM FOR BREACH OF CONTRACT OR ANY
OTHER THEORY OF LIABILITY ARISING OUT OF OR RELATED TO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR ANY ACT, OMISSION, OR EVENT OCCURRING IN CONNECTION THEREWITH, AND EACH LOAN PARTY HEREBY WAIVES, RELEASES, AND
AGREES NOT TO SUE UPON ANY CLAIM FOR SUCH DAMAGES, WHETHER OR NOT ACCRUED AND WHETHER OR NOT KNOWN OR SUSPECTED TO EXIST IN ITS FAVOR. 

  
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	3.13	 Release. 

EACH LOAN PARTY HEREBY ACKNOWLEDGES THAT, AS OF THE DATE HEREOF, IT HAS NO DEFENSE, RECOUPMENT, COUNTERCLAIM, OFFSET, CROSS-COMPLAINT, CLAIM
OR DEMAND OF ANY KIND OR NATURE WHATSOEVER THAT CAN BE ASSERTED TO REDUCE OR ELIMINATE ALL, OR ANY PART OF, ITS LIABILITY TO REPAY THE OBLIGATIONS ARISING UNDER THE CREDIT AGREEMENT, THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR TO SEEK AFFIRMATIVE
RELIEF OR DAMAGES OF ANY KIND OR NATURE FROM THE AGENT, THE LENDERS AND THEIR RESPECTIVE AFFILIATES AND APPROVED FUNDS, IN EACH CASE IN WHATEVER CAPACITY (EACH A “LENDER PARTY”) (OR ANY LENDER PARTY) ARISING UNDER OR IN CONNECTION
WITH THE CREDIT AGREEMENT, THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT. EACH LOAN PARTY HEREBY VOLUNTARILY AND KNOWINGLY RELEASES AND FOREVER DISCHARGES EACH LENDER PARTY AND EACH OF THEIR RESPECTIVE RELATED PARTIES, IN EACH CASE IN WHATEVER CAPACITY
(COLLECTIVELY, THE “RELEASED PARTIES”), FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN, ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED,
FIXED, CONTINGENT, OR CONDITIONAL, AT LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE THIS AGREEMENT IS ORIGINATED, TAKEN OR EXECUTED, WHICH SUCH LOAN PARTY MAY NOW OR HEREAFTER HAVE AGAINST ANY RELEASED PARTY, IF ANY, AND
IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING FROM OR ARISING IN CONNECTION WITH OR RELATING TO ANY LOANS, THE EXERCISE OF ANY RIGHTS AND REMEDIES UNDER THE CREDIT
AGREEMENT, THIS AGREEMENT OR OTHER LOAN DOCUMENTS, AND/OR NEGOTIATION OF, OR EXECUTION OF, THIS AGREEMENT. EACH LOAN PARTY HEREBY COVENANTS AND AGREES NEVER TO INSTITUTE ANY ACTION OR SUIT AT LAW OR IN EQUITY, NOR INSTITUTE, PROSECUTE, OR IN ANY WAY
AID IN THE INSTITUTION OR PROSECUTION OF, ANY CLAIM, ACTION OR CAUSE OF ACTION, RIGHTS TO RECOVER DEBTS OR DEMANDS OF ANY NATURE AGAINST ANY OF THE RELEASED PARTIES ARISING OUT OF OR RELATED TO A RELEASED PARTY’S ACTIONS, OMISSIONS, STATEMENTS,
REQUESTS OR DEMANDS AND OCCURRING PRIOR TO EFFECTIVENESS OF THIS AGREEMENT RELATING TO THIS AGREEMENT, THE CREDIT AGREEMENT OR THE OTHER LOAN DOCUMENTS. EACH LOAN PARTY AGREES TO INDEMNIFY AND HOLD EACH LENDER PARTY AND EACH OTHER RELEASED PARTY
HARMLESS FROM ANY AND ALL MATTERS RELEASED PURSUANT TO THIS SECTION. EACH LOAN PARTY REPRESENTS AND WARRANTS TO LENDER PARTIES THAT IT HAS NOT PURPORTED TO TRANSFER, ASSIGN OR OTHERWISE CONVEY ANY RIGHT, TITLE OR INTEREST OF SUCH LOAN PARTY IN ANY
RELEASED MATTER TO ANY OTHER PERSON AND THAT THE FOREGOING CONSTITUTES A FULL AND COMPLETE RELEASE OF SUCH LOAN PARTY’S CLAIMS WITH RESPECT TO ALL SUCH MATTERS. THE PROVISIONS OF THIS RELEASE AND THE REPRESENTATIONS, WARRANTIES, RELEASES,
WAIVERS, ACQUITTANCES, DISCHARGES, COVENANTS, AGREEMENTS AND INDEMNIFICATIONS CONTAINED HEREIN (A) CONSTITUTE A MATERIAL 

  
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CONSIDERATION FOR AND INDUCEMENT TO LENDER PARTIES ENTERING INTO THIS AGREEMENT, (B) DO NOT CONSTITUTE AN ADMISSION OF OR BASIS FOR ESTABLISHING ANY DUTY, OBLIGATION OR LIABILITY OF ANY
LENDER PARTY TO ANY LOAN PARTY OR ANY OTHER PERSON, (C) DO NOT CONSTITUTE AN ADMISSION OF OR BASIS FOR ESTABLISHING ANY LIABILITY, WRONGDOING; OR VIOLATION OF ANY OBLIGATION, DUTY OR AGREEMENT OF ANY LENDER PARTY TO ANY LOAN PARTY OR ANY OTHER
PERSON, AND (D) SHALL NOT BE USED AS EVIDENCE AGAINST ANY LENDER PARTY BY ANY LOAN PARTY OR ANY OTHER PERSON FOR ANY PURPOSE. 

[Signature pages to follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be executed and delivered as of the date first above written. 
  

					
	BIRKS GROUP INC.
		
	By:	 	 /s/ Jean-Christophe Bédos

		 	Name:	 	Jean-Christophe Bédos
		 	Title:	 	President & Chief Executive Officer
		
	By:	 	 /s/ Miranda Melfi

		 	Name:	 	Miranda Melfi
		 	Title:	 	Vice President, Human Resources, Chief Legal Officer and Corporate Secretary

 [Signature Page to Amendment No. 1 to the Credit Agreement] 

 
					
	CRYSTAL FINANCIAL LLC, as Agent
		
	By:	 	 /s/ Rebecca Tarby

		 	Name:	 	Rebecca Tarby
		 	Title:	 	Managing Director
	
	CRYSTAL FINANCIAL SPV LLC, as a Lender
		
	By:	 	 /s/ Rebecca Tarby

		 	Name:	 	Rebecca Tarby
		 	Title:	 	Managing Director

  
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 AGREED TO AND ACKNOWLEDGED by the undersigned as of the date first
indicated above. 
  

					
	CASH, GOLD & SILVER INC., as guarantor
		
	By:	 	 /s/ Jean-Christophe Bédos

		 	Name:	 	Jean-Christophe Bédos
		 	Title:	 	President
		
	By:	 	 /s/ Marco Pasteris

		 	Name:	 	Marco Pasteris
		 	Title:	 	Vice PresidentEX-4.40

 Exhibit 4.40 

EMPLOYMENT AGREEMENT 

This Agreement is made as of December 18, 2019 by and between Katia Fontana (the “Executive”) and Birks
Group Inc., a corporation incorporated under the laws of Canada (the “Company”). 
 WHEREAS the Executive
received and accepted a conditional offer of employment from the Company on November 27, 2019; 
 WHEREAS the
parties declare and acknowledge that the pre-employment conditions set out in such offer have all been duly satisfied; 

NOW, THEREFORE, in consideration of the foregoing and of their respective covenants and agreements, the parties agree
as follows: 
 1.    Position, Responsibilities and Term of Agreement 

1.1    Employment and Duties. Subject to the terms and conditions of this Agreement, the Company
employs the Executive to serve, effective January 13, 2019 or as may be otherwise mutually agreed between the Company and the Executive, as its Vice-President and Chief Financial Officer, reporting to the Company’s President and Chief
Executive Officer (or to any other position designated by the Company’s Board of Directors from time to time). The Executive accepts such employment and agrees to perform in a diligent, careful and proper manner such responsibilities and duties
commensurate with such a position as may be assigned to the Executive. The Executive agrees to devote substantially all business time and efforts to and give undivided loyalty to the Company. 

1.2    Place of work: The Executive shall be based in Montreal, Quebec, Canada, and provide her
services to the Company primarily in Canada, with the requirement to travel across Canada on a regular basis and abroad as needed and/or directed by the Company and any other traveling needs required by the position. 

1.3    Effective Date: Subject to the provisions of this Agreement, the Executive’s employment
will begin on January 13, 2020 or as may be otherwise mutually agreed between the Company and the Executive and this Agreement shall be effective as of that date (the “Effective Date”) and shall continue for an indefinite term
thereafter unless otherwise terminated as provided for in this Agreement (the “Term”). 

2.    Compensation 

2.1    Base Salary. As of the Effective Date and during the Term of this Agreement, the Company
shall pay the Executive an annual gross base salary of $300,000 (“Base Salary”) less all applicable taxes, and withholdings, payable in the manner dictated by the Company’s standard payroll policies. The Base Salary may be adjusted
from time to time at the Company’s discretion. The Base Salary is the Executive’s total compensation for all hours of work, it being understood that the hours of work may vary and may sometimes exceed 40 hours per week. 

 2.2    Incentive Compensation. 

“Fiscal Year” in this Agreement shall mean such period of approximately twelve (12) months defined as such from time to time by
the Company’s Board of Directors. In the event of any change in the definition of “Fiscal Year” it should not adversely affect any bonus payment or other compensation based or calculated on the Fiscal Year. 

a)    Annual Cash Bonus. Commencing with the 2021 Fiscal Year and for each Fiscal Year of the
Company thereafter through which the Executive remains actively employed by the Company, the Executive will have the opportunity to earn a bonus, when available, based on achievement of a targeted level of performance, as reflected in an annual
bonus letter, if applicable, and based on performance criteria set by the Company with a target bonus of 40% of the Base Salary (the “Annual Cash Bonus”). The Annual Cash Bonus, if any, shall be payable upon completion of the Fiscal Year
to which it relates. The Executive is required to be continuously and actively employed from the Effective Date through the date of the payment of the Annual Cash Bonus in order to receive any payment of the Annual Cash Bonus. The Executive
acknowledges that: (i) terms of the Annual Cash Bonus and management bonus plan may change each Fiscal Year at the discretion of the Company; (ii) she has no expectation that in any Fiscal Year there will be a guaranteed level of the
Annual Cash Bonus; (iii) the amount of the Annual Cash Bonus, if any, that the Executive may be awarded may change from year to year; and (iv) all bonuses are subject to applicable deductions and withholdings. For greater certainty,
“actively employed” means that the Executive is actively at work performing her job duties for the Company, and, subject to applicable employment standards legislation, expressly does not mean or include any period in lieu of notice of
termination in which the Executive is not performing job duties for the Company. 

2.3    Participation in Benefit Plans and Discount Policy. If acceptable by the Company’s
group insurers, the Company will provide the Executive with the group insurance coverages, currently including life, dental, medical insurance benefits and short-term and long-term disability benefits (the “Benefits”), in accordance with
the terms of the applicable plan documents, as may be amended from time to time and the Executive shall have no independent right as against the Company in connection with the Benefits. The cost of the Benefits shall be borne by the Company
according to the prevailing policies applicable to other Senior Management members. In addition, the Executive will be entitled to participate in the Company’s Discount Policy for Officers and Members of the Board. The Company may, at its
discretion, modify said policies from time to time. 
 2.4    Vacation Days. The Executive shall
be entitled to twenty (20) days of vacation for each Fiscal Year consistent with the Company’s vacation policy for Senior Management officers. The vacation days are earned for a given Fiscal Year during that same Fiscal Year; as a result,
for any portion of a Fiscal Year worked, the vacation shall be prorated on the basis of the number of days worked during the Fiscal Year. Unused vacation days may not be carried over from year to year, unless otherwise approved by the Company or
required in accordance with applicable employment standards legislation. In the event that the Executive’s employment terminates and the Executive has taken more vacation days than were accrued at the date of termination, the Executive agrees
that the 

  
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Company has the right to request a reimbursement for the value of the vacation days overtaken and/or deduct the amount from any sums due to the Executive and the Executive consents to any such
deduction. 
 2.5    Expenses. During the Term, the Executive shall be entitled, without
duplication, to receive reimbursement for all reasonable and pre-approved business expenses incurred by the Executive in accordance with the policies and procedures established by the Company. 

2.6    Car Allowance: In addition but without duplication, the Executive shall receive the
following gross all-inclusive car allowance, in a lump sum amount equal to $1,000 per month in accordance with the car allowance policy applicable to other members of Senior Management as may be amended
from time to time. Any other automobile costs or expenses including, without limitation, maintenance, insurance, repairs, lease or financing costs, and mileage, are the sole responsibility of the Executive. 

2.7    Annual Retirement Benefit Contribution: During the Term, the Company will pay the Executive
an annual retirement benefit contribution of $25,000 payable by installment on a quarterly basis, less applicable taxes and withholdings. At the option of the Executive and to the extent permitted by applicable laws, this amount may be paid to the
Executive’s registered retirement savings plan. 
 2.8    Taxable Benefits: It is understood
that to the extent the provisions in this Section 2 generate a taxable benefit for income tax purposes, these taxes will be the sole responsibility of the Executive and the Company reserves the right to withhold the taxes as applicable. 

3.    Termination 

3.1    Certain Definitions. For purposes of this Agreement, the following terms have the meanings
indicated: 
 a)    “Change in Control” shall be deemed to have occurred as of the first day
that any one or more of the following conditions shall have been satisfied: 
 (i)    any
“Person” as defined below (other than members of the Controlling Shareholder Group, the Company, any trustee or other fiduciary holding securities under any employee benefit plan of the Company, or any company controlled, directly or
indirectly, by the Controlling Shareholder Group), is or becomes the “beneficial owner”, directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding
securities; 
 (ii)    the shareholders of the Company approve a merger or consolidation
of the Company with any other corporation or entity, OTHER THAN a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by
being converted into voting securities of the surviving 

  
 3 

 
entity) more than 50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or a merger or
consolidation with or into any company the voting securities of which are beneficially owned 50% or more by the Controlling Shareholder Group; 

(iii)    the shareholders of the Company approve a plan of liquidation of the Company or an
agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets; or 

(iv)    the total combined voting power of the Company (or any successor entity)
represented by shares of voting stock owned by members of the Controlling Shareholder Group is reduced to less than 50%. 

The “Controlling Shareholder Group” includes: (i) Montel Sàrl; (ii) Mangrove Holding S.A.;
(iii) Grande Rousse Trust; (iv) Meritus Trust Company Limited; (v) Dr. Lorenzo Rossi di Montelera, (vi) the spouse and lineal descendants of Dr. Lorenzo Rossi di Montelera; and/or (vii) any trust whose principal
beneficiaries are persons described in clauses (v) and (vi). 
 A “Person” includes any natural person and
any corporation, limited liability company, partnership, trust or other entity. 

b)    “Cause” shall mean: (i) the failure by the Executive to substantially perform the
Executive’s duties for the Company (other than any such failure resulting from the Executive’s incapacity due to physical or mental illness, or any such actual or anticipated failure after the Executive announces her intention to resign
for Good Reason); (ii) the engaging by the Executive in misconduct which is or has the potential to be financially injurious to the Company; (iii) the Executive’s conviction or a pleading of guilty with respect to the commission of an
indictable offence or a crime involving bad faith or dishonesty; (iv) the Executive’s insubordination; (v) any breach by the Executive of any material term of this Agreement or any other written agreement between the Executive and the
Company; (vi) the Executive’s material violation of any of the Company’s policies; or (vii) any other act, omission or circumstance or series of acts, omissions or circumstances by the Executive that would, pursuant to applicable
civil law, permit the Company to, without notice or payment in lieu of notice, terminate her employment. 

c)    “Disability” shall mean the Executive’s inability to perform the Executive’s
duties by reason of mental or physical disability for at least or 180 days in any three-hundred sixty-five (365) day period. In the event of a dispute as to whether the Executive is disabled within the meaning hereof, either
party may from time to time request a medical examination of the Executive by a doctor appointed by the Chief of Staff of a hospital selected by mutual agreement of the parties, or as the parties may otherwise agree, and the written medical opinion
of such doctor shall be conclusive and binding upon the parties as to whether the Executive has become disabled and the date when such disability arose. The cost of any such medical examination shall be borne by the Company. 

  
 4 

 d)    “Good Reason” shall mean (i) the
material diminishment of the Executive’s authority or responsibility as a senior executive of the Company and the assignment to the Executive of duties inconsistent in material respect with the Executive’s position(s), span of control,
responsibilities or status within the Company; (ii) a material breach by the Company of this Agreement which is not remedied after thirty (30) days written notice thereof. In the event of a resignation for Good Reason, Executive must
provide the Company with a written “Notice of Resignation for Good Reason.” The “Notice of Resignation for Good Reason” shall include the specific reason that the Company’s act or failure to act has given rise to the
Executive’s resignation for Good Reason in accordance with this Agreement. 
 3.2    Termination
of Agreement by the Executive. 
 Executive may terminate this Agreement without Good Reason by giving the Company
written notice of such termination at least sixty (60) days prior to the termination date (the “Resignation Notice Period”); the Company can request a longer Resignation Notice Period of up to ninety (90) days with the consent of
the Executive; the Company is under no obligation to use the Executive’s services during the Resignation Notice Period and such period may be waived or curtailed at the Company’s option, provided that Company continues to pay the
Executive’s Base Salary and provide benefits over the Resignation Notice Period. 

3.3    Termination without Cause or Resignation for Good Reason. 

In the event at any time of (a) the termination of the employment of the Executive by the Company without Cause (for any
reason other than by death or Disability) or (b) the resignation of the Executive from the Company within thirty (30) days of an event constituting Good Reason, the Company shall pay or provide to the Executive only the following: 

(i)    Any earned and accrued but unpaid installment of base salary through the date of the
Executive’s resignation for Good Reason or termination at the rate in effect immediately prior to such resignation for Good Reason or termination (or the rate in effect immediately prior to the occurrence of an event that constitutes Good
Reason, whichever is greater) and all other unpaid amounts to which the Executive is entitled as of such date under any plan or program of the Company (including payment for any vacation time earned and not taken during the Fiscal Year in which
termination occurs and reimbursements not yet paid but due for business expenses previously incurred, such payments to be made in a lump sum within fifteen (15) days following the date of resignation for Good Reason or termination; 

(ii)    Notice or payment in lieu of notice representing six (6) months (the “Notice
Period”) of base salary at the same rate of base salary in effect immediately prior to the Executive’s resignation for Good Reason or termination (or the base salary in effect immediately prior to the occurrence of an event that
constitutes Good Reason, whichever is greater). If the Company elects to make a payment in lieu of notice, the Company shall make the payment in lieu of notice in equal installments, less applicable 

  
 5 

 
taxes and other withholdings, on the Company’s regular payroll dates. In addition, the Executive will receive the equivalent of the average Annual Cash Bonus prorated for the Notice Period,
if any (based on the average Annual Cash Bonus paid to her over the previous three (3) Fiscal Years, if any) paid over that number of months in the Notice Period, less applicable taxes and other withholdings, on the Company’s regular
payroll dates. In the event that the termination of Executive’s employment without Cause occurs before the Executive has completed three (3) Fiscal Years, the average bonus will be calculated based on the available historical earnings
prior to the date of the termination of Executive’s employment without Cause. 
 The Notice Period referred to above
shall be increased by one (1) additional month after two (2) years of service for each additional year of service thereafter, up to a maximum of twelve (12) months after eight (8) years of service. 

All payment of base salary and of Annual Cash Bonus continuation shall cease upon the Executive commencing alternate
employment or other gainful activities providing income or fees equivalent to at least 70% of the Executive’s Base Salary; provided however that in no event will the Executive receive less than her minimum statutory entitlements, if any. 

However, should the Executive be terminated without Cause within six (6) months following a Change in Control, then the
Executive shall receive instead of the salary continuation set forth above a lump sum amount equal to twelve (12) months of base salary and Annual Cash Bonus (based on the average Annual Cash Bonus paid to her over the previous three
(3) Fiscal Years), if any regardless of the Executive’s length of service at that time. 

(iii)    The Company shall maintain in full force and effect for the Notice Period described in
Section (ii), following the date of the Executive’s resignation for Good Reason or termination without Cause, health and dental insurance programs (not disability and life insurance programs) in which the Executive was entitled to
participate either immediately prior to the Executive’s resignation for Good Reason or termination without Cause or immediately prior to the occurrence of an event that constitutes Good Reason, provided that the Executive’s continued
participation is possible under the general terms and provisions of such programs. 
 The health and dental insurance
program coverage shall cease upon the Executive commencing alternate employment or other gainful activities. 

(iv)    Any other benefits or perquisites will cease effective the date of termination; 

(v)    Any vested stock option or other long-term incentive grants shall expire in accordance with the
Company’s applicable long-term incentive plans and grant agreements under which the stock option or long-term incentive was granted. 

(vi)    As a condition to her entitlement to receive termination payments and benefits under clauses
(ii) and (iii) of this Section, the Executive shall have executed and delivered to the Company a release substantially in the form attached hereto as Exhibit A. 

  
 6 

 For greater clarity: 

a)    the above payments and continuation of benefits are inclusive of (and not in addition to) the
Executive’s minimum statutory entitlements and, except as set forth above, no other payment whatsoever shall be due by the Company to the Executive; 

b)    the Executive will not be entitled to any civil law notice or payments in lieu with respect to the
termination of her employment in accordance with these provisions and the Executive voluntarily waives such notice or payments in lieu; and 

c)    except as set out above, no further notice of termination, pay in lieu thereof, severance pay or
any other amounts will be payable to the Executive in respect of the termination of her employment whether at civil law or otherwise, including in the event of a constructive dismissal. The Executive also agrees that regardless of the length of her
employment with the Company, any change in her position or other terms of employment, this provision will continue to apply to her. 

3.4    Termination for Cause or Resignation without Good Reason. In the event of the
Executive’s termination of employment for Cause, or her resignation without Good Reason, only the amounts set forth in clause (i) of Section 3.3 shall be payable to the Executive. No other payment whatsoever shall be due by the
Company to the Executive. 
 3.5    Termination for Disability or Death. In the event of the
Executive’s termination of employment because of death or Disability, the Company shall pay or provide to the Executive only the following: 

(i)    the amount set forth in clause (i) of Section 3.3; 

(ii)    the amount set forth in clause (ii) of Section 3.3; 

(iii)    any vested stock option or other long-term incentive shall expire in accordance with the
Company’s applicable long-term incentive plan and grant agreement under which the stock option or long-term incentive plan was granted. 

No other payment whatsoever shall be due by the Company to the Executive. 

3.6    Withholding. The Company shall have the right to deduct from any amounts payable under this
Agreement an amount necessary to satisfy its obligations, under applicable laws, to withhold income or other taxes of the Executive attributable to payments made hereunder. 

  
 7 

4.    Non-Competition. The Executive agrees that during the
Term, and for a twelve-month period thereafter (the “Non-Competition Period”), the Executive will not, directly or indirectly (a) engage or be engaged in a capacity that is the same as or
similar to the position occupied by the Executive while an employee of the Company, for any undertaking or business which competes with the business of the Company (a “Competing Business”), such business being the designing, retail and/or
wholesale sale of precious stones, jewellery, watches and other related products and the provision of related services (such as appraisals and repairs) (the “Prohibited Business”) in the territory listed in Schedule 1 (attached hereto)
(the “Territory”); or (b) engage in business, in the Territory, with any present executive, officer, employee or agent of the Company for purposes which are competitive with the Prohibited Business. 

In the event that the Company terminates the Executive without Cause, or if the Executive resigns with Good Reason, the Non-Competition Period shall be equal to the length of the Notice Period described in Section (ii). 

This prohibition shall not apply provided the two following conditions are both met: the Competing Business does not derive
5% or more of its revenues (including those of its affiliates in aggregate) from the aggregate of all its Prohibited Businesses; and such revenues are less than 25% of the revenues of the Company and its affiliates in such Prohibited Business. 

5.    Non-Solicitation of Customers. The Executive agrees
that during the Term, and for a twelve-month period thereafter (the “Non-Solicitation Period”), the Executive will not, directly or indirectly, solicit the business of any Customer or Supplier
of the Company for purposes which are competitive with the Prohibited Business. 
 In the event that the Company terminates
the Executive without Cause, or if the Executive resigns with Good Reason, the Non-Solicitation Period shall be equal to the length of the Notice Period described in Section (ii). 

A “Customer” includes any Person who, during the Term (including, for certainty, the Resignation Notice Period), or
in the case of termination of employment, in the one (1) year preceding the date of termination of the Executive’s employment hereunder for any reason, has purchased from the Company, with the Executive’s knowledge, any product or
services sold or distributed by the Company in respect of the Prohibited Business for a value of $20,000 or more in the preceding twenty-four (24) month period. 

A “Supplier” means any Person who, during the Term (including, for certainty, the Resignation Notice Period), and
in the case of termination, in the one (1) year preceding the date of termination of the Executive’s employment hereunder for any reason, has sold to the Company, with the Executive’s knowledge, any products that are resold by the
Company as an integral part of the Business. 

6.    Non-Solicitation of Employees. The Executive agrees
that during the Term, and for a twelve-month period thereafter (the “Non-Solicitation of Employee Period”), the 

  
 8 

 
Executive will not, directly or indirectly, induce any Person who, to the Executive’s knowledge, is an executive, officer, employee or agent of the Company, or any member of the Company, to
terminate their relationship with the Company. 
 In the event that the Company terminates the Executive without Cause, or
if the Executive resigns with Good Reason, the Non-Solicitation of Employee Period shall be equal to the length of the Notice Period described in Section (ii). 

7.    Confidentiality 

7.1    The Executive agrees that during her employment with the Company and for so long thereafter as the
Company has not allowed public disclosure of the business information referred to below, the Executive will not, directly or indirectly, disclose, divulge, discuss, copy or otherwise use or allow to be used in any manner, the customer lists,
manufacturing and marketing methods, product research or engineering data, vendors lists, contractors lists, financial information, business plans and methods or other confidential business information or trade secrets of the Company, its direct or
indirect subsidiaries or its affiliates, it being acknowledged by the Executive that all such information regarding the business of the Company, its direct or indirect subsidiaries or its affiliates compiled or obtained by, or furnished to, or
developed by the Executive while the Executive shall have been employed by or associated with the Company is confidential information and the Company’s exclusive property (it being understood, however, that the information publicly disclosed by
the Company shall not be subject to this Section 7.1). 
 7.2    Upon the termination of the
Executive’s employment with the Company, or at any time upon the request of the Company, the Executive (or the Executive’s heirs or personal representatives) shall deliver to the Company (a) all documents and materials (including,
without limitation, computer files) containing confidential information relating to the business and affairs of the Company, its direct and indirect subsidiaries and its affiliates, and (b) all documents, materials and other property
(including, without limitation, computer files) belonging to the Company, its direct or indirect subsidiaries and its affiliates, which in either case are in the possession or under the control of the Executive (or Executive’s heirs or personal
representatives). 
 8.    Remedies and Recognition 

8.1    The Executive expressly agrees and understands that the remedy at law for any breach by the
Executive of any of the provisions of Section 4, Section 5, Section 6 or Section 7 hereof will be inadequate and that damages flowing from such breach are not readily susceptible to being measured in monetary terms. Accordingly,
it is acknowledged that upon adequate proof of the Executive’s violation of any legally enforceable provision of Section 4, Section 5, Section 6 or Section 7 hereof, the Company shall be entitled to immediate injunctive
relief and may obtain a temporary order restraining any threatened or further breach. Nothing in this Section 8 shall be deemed to limit the Company’s remedies at law or in equity for any breach by the Executive of any of the provisions of
Section 4, Section 5, Section 6 or Section 7 hereof, which may be pursued or availed of by the Company. 

  
 9 

 8.2    In the event the Executive shall violate any
legally enforceable provision of Section 4, Section 5, Section 6 or Section 7 hereof as to which there is a specific time period during which she is prohibited from taking certain actions or from engaging in certain activities,
as set forth in such provision, then, such violation shall toll the running of such time period from the date of such violation until such violation shall cease; provided, however, the Company shall seek appropriate remedies in a reasonably prompt
manner after discovery of a violation by the Executive. 
 8.3    The Executive has carefully considered
the nature and extent of the restrictions upon her pursuant to Section 4, Section 5, Section 6 and Section 7 hereof (the “Restrictive Covenants”) and the rights and remedies conferred upon the Company under this
Section 8, and hereby acknowledges and agrees that the same are reasonable in time, territory and scope, are designed to eliminate competition which otherwise would be unfair to the Company, are not designed to stifle the inherent skill and
experience of the Executive, would not operate as a bar to the Executive’s sole means of support, are fully required to protect the legitimate interests of the Company and do not confer a benefit upon the Company disproportionate to the
detriment to the Executive. 
 8.4    If any court or arbitrators determine that any of the Restrictive
Covenants, or any part thereof, is unenforceable because of the duration or territory of such provision, the duration or territory of such provision, as the case may be, shall be reduced so that such provision becomes enforceable and, in its reduced
form, such provision shall then be enforceable and shall be enforced. 
 8.5    The Company and the
Executive intend to and hereby confer jurisdiction to enforce the Restrictive Covenants upon the courts of any jurisdiction within the geographical scope of the Restrictive Covenants. If the courts of any one or more or such jurisdictions hold the
Restrictive Covenants wholly unenforceable by reason of breach of scope or otherwise, it is the intention of the Company and the Executive that such determination not bar or in any way affect the Company’s right to the relief provided above in
the courts of any other jurisdiction within the geographical scope of such Restrictive Covenants as to breaches of such Restrictive Covenants in such other respective jurisdiction, such Restrictive Covenants as they relate to each jurisdiction
being, of this purpose, severable, diverse and independent covenants, subject, where appropriate, to the doctrine of res judicata. 

9.    Intellectual Property 

9.1    The Executive hereby acknowledges that the Company is the sole and exclusive owner of all rights,
title and interest in and with regard to the Products (as hereinafter defined). Consequently, the Executive, expressly and irrevocably, hereby assigns, to the Company and its successors and assigns, exclusively and globally, all rights, title and
interest in the Products in their final form and as they are developed from time to time, including, without limiting the scope of the foregoing, all copyrights, trade secrets, trademarks, industrial designs, patent rights, and any other
intellectual property rights in any work product carried out as part of or in connection with his/her duties as Executive of the Company, during or outside of business hours, relating to any current, planned or

  
 10 

 
future activities of the Company or any company in connection with the Company or its affiliated entities, including, but not limited to, designs,
mock-ups, documents, publications, promotional material, advertisements, texts, data and other information, programs and software, developments, inventions, models, databases, business methods, technical and non-technical procedures, manuals, reports and any improvements, modifications or additions made to the products that have been, are being or will be made or designed by the Executive (alone or jointly with others,
whether carried out on the Company’s premises or not), during the Term (collectively referred to as “Products”). 

9.2    The Executive hereby waives in favour of the Company, its successors and assigns, all moral rights
that she may have or claim to have with respect to the Products, including (i) the right to being recognized as the author or creator of the Products as well as (ii) the right to challenge any modification or use of the Products. 

9.3    The Executive acknowledges that the Products are and shall remain the sole property of the Company
and may not be used by the Executive for any purpose other than for the Company’s benefit, with its consent and according to its instructions. 

9.4    The Executive hereby agrees to sign any document that the Company, its successors or assigns
consider necessary or useful to give full effect to the Company’s rights concerning the Products. All Products and any media containing the Products that are in the Executive’s possession shall be immediately returned to the Company upon
termination of this Agreement and no copy shall be retained by the Executive without the Company’s explicit, prior written consent. 

10.    Assignment. The rights and obligations of the parties under this Agreement shall not be
assignable by either the Company or the Executive, provided that this Agreement is assignable by the Company to any affiliate of the Company, to any successor in interest to the business of any of the Company, or to a purchaser of all or
substantially all of the assets of any of the Company including without limitation by way of merger or stock purchase. 

11.    Miscellaneous 

11.1    Governing Law. This Agreement shall be construed in accordance with and governed for all
purposes by the laws of the Province of Quebec and the laws of Canada applicable thereto. 

11.2    Notices. Any notice, request, or instruction to be given hereunder shall be in writing and
shall be deemed given when personally delivered or delivered by a nationally recognized delivery service, or three days after being sent by certified mail, postage prepaid, with return receipt requested to, the parties at their respective addresses
set forth below: 

  
 11 

 a)    To the Company: 

Birks Group Inc. 

2020 Robert-Bourassa Blvd. 

Suite 200 

Montreal, Quebec 

H3A 2A5 

Attention: Vice President, Human Resources, Chief Legal Officer and Corporate Secretary 

b)    To the Executive: 

Ms. Katia Fontana 

329 Upper Edison 

Saint-Lambert, Qc 

J4R 2T9 

11.3    Severability. If any paragraph, subparagraph or provision hereof is found for any reason
whatsoever to be invalid or inoperative, that paragraph, subparagraph or provision shall be deemed severable and shall not affect the force and validity of any other provision of this Agreement. The covenants of the Executive in this Agreement shall
each be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of the Executive against the Company, whether predicated on this Agreement or otherwise, shall not constitute a
defense to the enforcement by the Company of the covenants in this Agreement. 
 11.4    Entire
Agreement, Amendment and Waiver. This Agreement constitutes the entire agreement and supersedes all prior agreements of the parties hereto relating to the subject matter hereof, and there are no oral terms or representations made by either party
other than those herein. This Agreement may not be amended, supplemented or waived except by a writing signed by the party against which such amendment or waiver is to be enforced. The waiver by any party of a breach of any provision of this
Agreement shall not operate to, or be construed as a waiver of, any other breach of that provision nor as a waiver of any breach of another provision. 

11.5    Jurisdiction. Subject to Section 8.4, any legal action or proceeding arising out of or
relating to this Agreement shall be brought exclusively in the courts of the Province of Quebec and, by execution and delivery of this Agreement, the Executive and the Company irrevocably consent to the jurisdiction of those courts. The Executive
and the Company irrevocably waive any objection, including any objection based on the grounds of forum non-conveniens, which either may now or hereinafter have to the bringing of any action or
proceeding in such jurisdiction in respect of this Agreement or any transaction related thereto. 

  
 12 

 11.6    Enforcement. 

a)    This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal and
legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive should die while any amounts are still payable to the Executive hereunder, all such amounts shall be paid in accordance with
the terms of this Agreement to the Executive’s estate or beneficiary. 
 b)    If either party is
required to institute litigation or arbitration to enforce their rights under this Agreement, then the prevailing party, as determined by a court of competent jurisdiction, shall be entitled to recover reasonable attorney’s fees and costs. 

11.7    Survival of Rights and Obligations. The provisions of Sections 3.2,3.3, 3.4, 3.5, 4,
5, 6, 7, 8.1, 8.2 and 9 shall survive the termination or expiration of this Agreement. However, nothing in this subsection prohibits the Company from seeking relief under Section 8 of this Agreement, including circumstances where the Executive
purports to resign with Good Reason. 
 11.8    Counterparts. This Agreement may be executed in
two counterparts, each of which is an original but which shall together constitute one and the same instrument. 

11.9    Written Resignation. In the event this Agreement is terminated for any reason (except by
death), the Executive agrees that if at the time Executive is a director or officer of the Company or any of its direct or indirect subsidiaries, Executive will immediately deliver a written resignation as such director or officer, such resignation
to become effective immediately. 
 11.10    Executive’s Representations. The Executive
represents and warrants to the Company that (i) the Executive is able to perform fully the Executive’s duties and responsibilities contemplated by this Agreement and (ii) there are no restrictions, covenants, agreements or limitations
of any kind on her right or ability to enter into and fully perform the terms of this Agreement. 

11.11    Currency. For the avoidance of doubt, any references to monies or dollars set forth in
this Agreement shall be in Canadian Dollars. 
 11.12    Independent Legal Advice. The Executive
acknowledges that she has been advised to obtain, and that she has obtained or has been afforded the opportunity to obtain, independent legal advice with respect to this Agreement and that she understands the nature and consequences of this
Agreement. 
 11.13    Language. The parties hereto acknowledge that they have requested and are
satisfied that this Agreement and all related documents be drawn up in the English language. Les parties aux présentes reconnaissent avoir requis que la présente entente et les documents qui y sont
relatifs soient rédigés en anglais. 
 [Remainder of the page intentionally left blank]

  
 13 

 IN WITNESS WHEREOF, the parties hereto have entered into this Agreement upon the date
first above written. 
  

			
	BIRKS GROUP INC.
		
	By:	 	     /s/ Jean-Christophe Bédos

		 	Jean-Christophe Bédos
		 	President and Chief Executive Officer

  

	
	EXECUTIVE
	
	 /s/ Katia Fontana

	Katia Fontana

  
 14 

 SCHEDULE 1 

TERRITORY 
 The following provinces in
Canada: 
  

	 	i)	 Quebec 

  

	 	ii)	 Ontario 

  

	 	iii)	 Alberta 

  

	 	iv)	 British Columbia 

 EXHIBIT A 

RELEASE 

Birks Group Inc. (the “Company”) and Katia Fontana (the “Executive”) entered into an Employment
Agreement (“Employment Agreement”) made as of December 18, 2019. To satisfy the requirement of Section 3.3 of the Employment Agreement, Executive hereby grants the Company the Release set forth below: 

1.    Release. The Executive, for herself, her heirs, and personal and legal representatives, except
as provided in Section 2 hereof, does hereby irrevocably and unconditionally release, remise, and forever discharge the Company and any of its parent companies, subsidiaries or affiliates and each of their respective officers, directors, and
employees (the “Releasees”), however denominated, past, present, and future, and their predecessors, successors, and assigns, of and from any and all manner of actions, causes, matters, suits, dues, bonds, judgments, debts, accounts,
covenants, agreements, claims, controversies, guarantees, warranties, damages, liabilities, or demands of any nature whatsoever in law or equity, whether or not now known to her that she ever had, now has, or hereafter can, shall, or may have, for,
upon, or by reason of any matter, action, omission to act, transaction, practice, conduct, cause, or thing of any kind whatsoever to the date she executes this Release. Such release, remise, and discharge of the Releasees includes, without
limitation, any and all claims under any and all federal, provincial, state and local statutes or civil law and extends without limitation to any and all acts, practices, or conduct by the Releasees, or the effects thereof, whether or not Executive
now has knowledge thereof, or if any such effects exist or may in the future exist as a result of any act, omission, practice, or conduct that occurred prior to the date she executes this Release. Except as provided in Section 2, this Release
shall specifically include, but not be limited to, the following: 
 (a)    any and all claims and
matters of any kind which arise or might arise, or which otherwise relate to the Executive’s employment with the Company or any of the Company’s parent companies, subsidiaries, affiliates, or the Executive’s termination of employment;

 (b)    any and all claims for wages and benefits (including without limitation salary, stock, stock
options, commissions, incentive compensation, bonuses, notice, payment in lieu of notice, termination pay, severance pay, health and welfare benefits, overtime pay, vacation pay, interest, and any other fringe-type benefit); 

(c)    any and all claims for wrongful dismissal, breach of contract (whether written or oral, express or
implied), and implied covenants of good faith and fair dealing; 
 (d)    any claims under human rights
or employment standards legislation (having discussed or otherwise canvassed any and all human rights or employment standards complaints, concerns or issues arising out of or with respect to the Executive’s relationship with the Releasees
including any harassment claim or potential claim); 

 (e)    any and all claims under applicable employment
standards legislation or any federal, provincial, state or local statute relating to employee benefits; 

(f)    any and all claims in tort, including but not limited to any claims for fraud, misrepresentation,
defamation, interference with contract or prospective economic advantage, intentional infliction of emotional distress, and/or negligence; 

(g)    any and all claims for additional commissions, compensation, or damages of any kind; and 

(h)    any and all claims for attorneys’ fees and costs. 

2.    General. 

(a)    It is understood and agreed that for the said consideration, the Executive will not make any claim
or take any proceeding in connection with the claims released herein against any other person or party who may claim contribution or indemnity from the Releasees by virtue of said claim or proceeding. 

(b)    It is understood and agreed that for the said consideration, the Executive further covenants and
agrees to save harmless and indemnify the Releasees from and against all claims, charges, taxes or penalties and demands which may be made by the appropriate taxing authorities in Canada and Quebec requiring the Releasee to pay income tax, charges
or penalties under applicable statutes and regulations in respect of income tax payable by the Executive for services the Executive rendered to the Releasee; and in respect of any and all claims, charges, taxes, or penalties and demands which may be
found payable by the Releasees in respect of the Executive relating to governmentally regulated or other employment insurance or pension plan programs. 

(c)    It is understood and agreed that the amounts provided to the Executive are intended to be inclusive
of, and not in addition to, any benefits and allowances or obligations prescribed by applicable employment standards legislation and are to be in full payment of the obligations under such legislation, including the individual notice, termination
pay and benefits requirements and entitlements of such legislation. 
 (d)    It is understood and
agreed that for the said consideration, the Executive will not make any statements, written or verbal, nor cause or encourage others to make any statements, written or verbal, that defame, disparage or in any way criticize the personal or business
reputations, practices or conduct of the Releasee, its shareholders, officers, directors, employees, agents, advisors, partners, affiliates or consultants. 

(e)    The Executive expressly declares, except as set out in this Release, that the Executive has no
claim of any nature or kind to any entitlement whatsoever arising under or from any group health or welfare insurance policy maintained by the Releasee for the benefit of its employees including disability or life insurance plans. 

(f)    It is further understood and agreed that the giving of the aforementioned consideration is deemed
to be no admission of liability on the part of the said Releasees, said liability in fact being denied. 

  
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 (g)    The Executive hereby undertakes to comply with
her contractual obligations which continue to apply following the termination of her employment, including without limitation the non-competition, non-solicitation and
confidentiality covenants. These undertakings shall form part of this Release as if they were reproduced herein. 

(h)    This Release shall be deemed to have been made in and shall be construed in accordance with the
laws of the Province of Quebec. 
 (i)    This Release shall enure to the benefit of and be binding upon
the Executive and the Company and their respective heirs, executors, administrators, legal personal representatives, successors and assigns. 

(j)    The Executive has requested that this Release be drawn up in the English language. / La
soussignée a requis que la présente Quittance soit rédigée en anglais. 

3.    Review. The Executive acknowledges that she has had the opportunity to review the Employment
Agreement and this Release and to consider their terms with her attorneys and advisors and that she understands their meaning and effect. The Executive hereby acknowledges that the execution of this Release is the Executive’s own free and
voluntary act and that the only inducement for Executive’s granting this Release is the payment provided for in Section 3.3 of the Employment Agreement. The Executive understands and acknowledges that the agreement with the Company
constitutes a transaction within the terms of articles 2631 et seq. of the Civil Code of Québec and is made without prejudice and without any admission whatsoever of responsibility, fault or liability on the part of the Company.

 UNDERSTOOD AND AGREED: 
  

					
	      
	  		  	      

	Katia Fontana	  	                    	  	Date
			
	      
	  		  	      

	Witness	  		  	Date

  
 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00311-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00311-of-00352.parquet"}]]