Document:

Distribution Agreement

 Exhibit 4.83 

[*]: THE CONFIDENTIAL MATERIAL HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY
WITH THE COMMISSION. 
 DISTRIBUTION AGREEMENT 

This Agreement is made as of September 26, 2009 by and between Birks & Mayors Inc., a company incorporated under the laws of Canada having
its principal office at 1240 Phillips Square, Montreal, Québec (“Birks”), Mayor’s Jewelers, Inc., a wholly-owned subsidiary of Birks incorporated under the laws of Delaware and having its principal office at 5870 North
Hiatus Road, Tamarac, Florida (“Mayors”) and Damiani International B.V., a company incorporated under the laws of the Netherlands having its principal office at Prins Bernhardplein, 200 – 1097 JB Amsterdam, the Netherlands and
operating in addition through its direct or indirect subsidiaries and/or affiliates (the “Affiliates”) for the fulfilment of the obligations of this Agreement (Damiani International B.V. and its Affiliates hereinafter collectively
“Damiani”). 
 (Birks and Mayors, together with any respective direct or indirect subsidiary thereof, are hereafter also
jointly referred to as the “B&M Group” and B&M Group and Damiani collectively referred to as the “Parties”) 

WHEREAS Damiani has the ownership of and/or the title to use the “DAMIANI”, “CALDERONI” “SALVINI”,
ALFIERI & ST. JOHN” and “BLISS” trademarks and, inter alia, produces “DAMIANI”, “CALDERONI”, “SALVINI”, ALFIERI & ST. JOHN” and “BLISS” lines of refined jewelry products,
predominantly in gold, platinum, diamonds, gemstones and precious metals, including, without limitation, rings, wedding bands, earrings, bracelets, necklaces, charms, armlets, pendants, brooches, as well as watches and other luxury products (the
“Damiani Products”); 
 WHEREAS Damiani sells Damiani Products under various brands which it owns or has the right to
use (or which its parent company, Damiani S.p.A., owns or has the right to use and has authorized Damiani to use including for purposes of this Agreement), including the following brands: 

 

	 	(a)	the Damiani and Calderoni brands (the “Major Brands”); and 

 

	 	(b)	the Salvini, Bliss and Alfieri & St. John brands (the “Minor Brands”); 

WHEREAS Damiani wishes to increase the distribution of Damiani Products under the Major Brands and the Minor Brands in the Canadian and U.S.
markets; 
 WHEREAS Damiani International B.V. could fulfill its obligations to sell and to deliver Damiani Products under this Agreement
to the B&M Group directly and/or through its Affiliates; and 
 WHEREAS the B&M Group has agreed vis-à-vis Damiani to
distribute and sell Damiani Products under the Major Brands and the Minor Brands (the latter may be sold branded, unbranded or under the Birks retail brand upon mutual agreement of the Parties) in its stores pursuant to the terms of this Agreement.

 NOW THEREFORE, the above recitals together with the Schedules hereto being incorporated into and forming integral and essential part
of this Agreement, in consideration of the mutual agreements hereinafter set forth, the parties hereto agree as follows: 
 Section 1
Initial Purchase of Major Brands and Minor Brands Damiani Products 
  

	 	1.1	 The B&M Group has provided purchase order worksheets (as contained in the mutually agreed upon purchase order worksheets attached to this Agreement
and the Parties undertake to readjust the worksheets to indentify and categorize the 

	 	 
products into “Core Products” and “Non-Core Products” by October 2, 2009 which revised worksheets shall replace the existing worksheets and form an integral
part of this Agreement (the “Revised Worksheets”)) to purchase from Damiani and its Affiliates the Major Brands Damiani Products and Minor Brands Damiani Products for resale in its stores in Canada and in the U.S.A. with an
aggregate B&M Group cost value of US$10,600,000 [*] (referred to herein as “Cost Value”) (collectively, the “Purchased Products”). The B&M Group and Damiani jointly decided on the mix within each category of
Major Brands and Minor Brands jewelry that is purchased by the B&M Group from Damiani as contained in the purchase order worksheets attached and pursuant to this provision of the Agreement. The Parties agree that watches will form part of the
Non-Core Products as contained in the worksheets attached hereto. 

  

	 	1.2	Damiani shall deliver at least 80% of the Purchased Products to the B&M Group as promptly as possible and, in any event, by no later than October 30, 2009,
with the exception that approximately US$950,000 at Cost Value of Alfieri & St. John branded products (of the US$10,600,000) shall be delivered by Damiani to the B&M Group by no later than November 30, 2009 (“Alfieri
Products”). Damiani shall deliver the remaining 20% of the Purchased Products to the B&M Group no later than November 15, 2009. If less than 80% of the Purchased Products are delivered by October 30, 2009 (and in the case of
Alfieri Products, less than 100% are delivered by November 30, 2009) or the remaining 20% of the said products are delivered after November 15, 2009, then the B&M Group shall benefit from an additional discount of [*]% of the Cost
Value of the products delivered late. 

  

	 	1.3	 The B&M Group shall pay for the Purchased Products and the Replenishment Non-Core Products (as identified in the Revised Worksheets) delivered to
the B&M Group in annual payments on February 15th
of each year (the “Annual Payments”) during the Term of this Agreement. Each payment will be an amount equal to the greater of: 

  

	 	(a)	the cumulative Cost Value to the B&M Group of the Purchased Products and the Replenishment Non-Core Products (as identified in the Revised Worksheets) sold by the
B&M Group since the date of this Agreement up to the January 31 immediately preceding the applicable payment date, and 	 

  

	 	(b)	the cumulative minimum annual amounts set forth below up to and including the applicable date, 

minus 

the cumulative Annual Payments made since the date of this Agreement (for greater clarity, payments of Replenishment Core Products
– as identified in the Revised Worksheets – and for Damiani Products on consignment are expressly excluded from such cumulative Annual Payments). 

The following are the minimum annual amounts and the payment dates: 

 

	 	(i)	US$400,000 on February 15, 2010; 

  

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	 	(ii)	US$1 million on February 15, 2011; 

  

	 	(iii)	US$1.1 million on February 15, 2012; 

  

	 	(iv)	US$1.2 million on February 15, 2013; 

  

	 	(v)	US$1.3 million on February 15, 2014. 

  

	 	1.4	Following its receipt of the Purchased Products, the B&M Group shall, at agreed upon stores, display the Purchased Products for sale at Damiani’s suggested
U.S. retail prices or Canadian Retail Prices, as the case may be, or such other price deemed appropriate by the B&M Group. The expression “Canadian Retail Prices” in this Agreement means that Canadian retail price suggested by
the B&M Group to Damiani for each Damiani Product which will be sold in Canada by the B&M Group to its retail customers calculated by applying an estimated currency exchange rate factor to the sum of the US retail price and the Canadian
import duty. In the event that there are significant fluctuations either in the US Dollar / Canadian Dollar exchange rate for an extended period or in the Canadian import duties, the B&M Group will suggest new Canadian Retail Prices to Damiani
for its approval which cannot be unreasonably withheld. 

  

	 	1.5	The B&M Group shall return to Damiani any products delivered by Damiani to the B&M Group on consignment until the date hereof not included in the Revised
Worksheets, by delivering them to the Damiani NY Location by November 30, 2009, free and clear of all Liens, the costs of the shipment thereof shall be shared equally between Damiani and the B&M Group. 

 

	 	1.6	The B&M Group agrees to execute the security agreements in accordance with Section 11.23 hereof. 

Section 2 Additional Purchases of Core Products 
  

	 	2.1	During the term of this Agreement, the B&M Group shall continue to purchase, and Damiani shall continue to sell and deliver to the B&M Group, additional Core
Products based on the actual retail sales of the Core Products (as identified in the Revised Worksheets) in B&M Group stores (the “Replenishment Core Products”). The B&M Group expressly agrees to buy Replenishment Core
Products to replenish Core Products (as identified in the Revised Worksheets) sold at least on a quarterly basis – or more frequently if needed—for the Term of this Agreement based on [*] replenishment ratio of actual sales in the previous
quarter. In particular, based on the monthly sales information that the B&M Group will send to Damiani in a format used by the B&M Group with its other vendors, a copy of which shall have been provided to Damiani before the signature of this
Agreement, the B&M Group undertakes to place at least a quarterly purchase order with Damiani at the quarterly meetings between the Parties referred to in Section 2.2 for the purchase value equal to the Cost Value of the Core Products (as
identified in the Revised Worksheets) sold during each previous quarter. 

  

	 	2.2	 The Parties agree to establish an annual business plan (the “Annual Business Plan”) that includes sales goals of the B&M Group for
Damiani Products in the 

  

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aggregate and for each of the Exclusive Brands (as hereinafter defined) for each of the B&M Group stores that will be distributing Damiani Products as well the inventory turn objectives,
GMROI goals, marketing, event plans and management (e.g. location) of the Damiani Products, and such other goals as the Parties may mutually agree upon. 

The first Annual Business Plan, related to the fiscal year ending on March 31, 2011, shall be agreed upon by the Parties by
April 30, 2010, and thereafter for the subsequent fiscal years, the relevant Annual Business Plan shall be agreed by the Parties by the end of March of each year. 

In addition, the Parties shall meet on a quarterly basis to review actual progress against such goals and agree to use their best efforts
to achieve these goals. In particular, the Parties agree to use their best efforts to achieve sales, inventory turn and GMROI goals. 
  

	 	2.3	Damiani shall use its best efforts to deliver the Replenishment Core Products to the B&M Group within ninety (90) days from receipt of a written order. The
B&M Group may cancel the purchase order if, following an additional grace period of ten (10) days, Damiani has not delivered the Replenishment Core Products for which an order was placed. 

If B&M Group places orders for special Core Products for which Damiani is not able to deliver within a period of ninety
(90) days from the order date, Damiani shall promptly inform the B&M Group of its proposed different delivery terms. In the event that the B&M Group does not accept such proposed delivery terms, the B&M Group will have the right to
cancel the said order within ten (10) Business Days from receipt of the proposed delivery terms from Damiani. In the event that the B&M Group does not cancel the said order within the said ten (10) Business Day period, then the order
and the delivery term proposed by Damiani will be deemed to have been accepted by the B&M Group. 
  

	 	2.4	The price to be paid by the B&M Group to Damiani for purchases of Replenishment Core Products shall be the B&M Group Cost Value for such Core Products [*].

  

	 	2.5	The B&M Group shall pay for all purchases of Replenishment Core Products ordered within ninety (90) days of its receipt of delivery of the Replenishment Core
Products provided the corresponding invoice from Damiani is received within ten (10) days of the due date. 

  

	 	2.6	Notwithstanding Section 17.12 hereof, it is understood that any outstanding receivable due to Damiani as at the date of this Agreement shall be paid by the B&M
Group according to the agreed terms of payment set out in the respective invoices. 

  

	 	2.7	Following its receipt of the Replenishment Core Products, the B&M Group shall, at its agreed upon stores, display the Replenishment Core Products for sale at
Damiani’s suggested U.S. retail price and the Canadian Retail Prices, as the case may be, or such other price deemed appropriate by the B&M Group. 

  

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 Section 3 Additional Non-Core Products 

 

	 	3.1	Damiani may, at its sole discretion, sell and deliver to the B&M Group, which shall purchase, additional Non-Core Products which will be mutually agreed upon
between the Parties, to replenish the Non-Core Products (as identified in the Revised Worksheets) sold by the B&M Group based on the actual retail sales of the Non-Core Products in the B&M Group stores (the “Replenishment Non-Core
Products”). The price to be paid by the B&M Group to Damiani for Replenishment Non-Core Products shall be the B&M Group Cost Value for the Non-Core Products (as identified in the Revised Worksheets) and the payment of such Cost
Value shall be included in the formula provided in Section 1.3 hereof. 

 Section 4 Consignment Products

  

	 	4.1	Damiani may from time to time provide to the B&M Group Damiani Products on consignment for special promotional events or other store events that may be mutually
agreed upon from time to time by the Parties at prices and terms which will be mutually agreed upon between the Parties from time to time. 

Section 5 Right to Return 
  

	 	5.1	At the termination or expiration of the Agreement, the B&M Group shall return, at Damiani’s expense, up to US$5 million at the actual Cost Value of any
unsold Damiani Products to Damiani, free and clear of all Liens, without any further obligation of the B&M Group (the “Return Products”). The transfer of the title to the unsold Return Products to Damiani shall occur upon
delivery without any further notice or formality. 

  

	 	5.2	In the event that the Return Products, the Cost Value of which has already been paid to Damiani, are returned by the B&M Group to Damiani in accordance with
Section 5.1, the Cost Value paid by the B&M Group to Damiani for the Return Products returned shall be reimbursed by Damiani to the B&M Group as follows: (i) the B&M Group will first offset any such amount against any accounts
payable (even if not due yet) owed by the B&M Group to Damiani; (ii) if such accounts payable are insufficient to cover the amount to be reimbursed, then Damiani shall reimburse any remaining amount within ninety (90) days from the
date that the Return Products were delivered to Damiani. 

  

	 	5.3	In the event that less than US$5 million at the actual Cost Value of the Return Products are returned by the B&M Group to Damiani in accordance with
Section 5.1, the B&M Group shall pay in full any unreturned, unsold and unpaid Purchased Products at Cost Value within ninety (90) days from the termination or expiration of the Agreement. 

Section 6 Delivery of Damiani Products 
  

	 	6.1	 With respect to all Damiani Products to be delivered by Damiani to the B&M Group pursuant to this Agreement, the Damiani Products shall be
delivered by 

  

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Damiani, in accordance with the B&M Group’s prior written instructions given at the time of the purchase order placement to Damiani, to one of the following B&M Group locations:
(i) the B&M Group distribution facility located at 5870 North Hiatus Road, Tamarac, Florida, (ii) the B&M Group distribution facility located at 1240 Phillips Square, Montreal, Québec, or (iii) the B&M Group
distribution facility located at 1765, 55th Avenue,
Dorval, Québec (collectively, the “Distribution Centres”). 

  

	 	6.2	Damiani shall be responsible to arrange for, and to pay all costs, expenses, duties, excise and other taxes, customs and insurance and inspection charges, and other
similar charges or fees related to, the transportation, freight and delivery of all such Damiani Products delivered by Damiani from Europe to its office or warehouse facility located in the City of New York (“Damiani NY Location”).

  

	 	6.3	Damiani shall be entitled to be reimbursed by the B&M Group for the actual shipping expenses incurred and supported by a corresponding invoice in accordance with
shipping standards agreed to by the B&M Group that are incurred for the transportation and delivery of the Damiani Products from the Damiani NY Location to the B&M Group distribution facility located at 5870 North Hiatus Road, Tamarac,
Florida. 

  

	 	6.4	 Damiani shall be entitled to be reimbursed by the B&M Group for the actual shipping expenses incurred and supported by a corresponding invoice in
accordance with shipping standards agreed to by the B&M Group that are incurred for the transportation and delivery of the Damiani Products from the Damiani NY Location to the B&M Group distribution facility located at 1240 Phillips
Square, Montreal, Québec, or to the B&M Group distribution facility located at 1765,
55th Avenue, Dorval, Québec. However, the Parties
expressly agree that the Canadian import duties and the relevant custom clearances shall be directly borne by B&M Group and at its sole expense. 

  

	 	6.5	Any incremental shipping fees or costs due to expedited deliveries shall be borne by Damiani unless specifically agreed upon by the Parties or further to a specific
request of the B&M Group. 

  

	 	6.6	Title to the purchased Damiani Products and risk of loss of the purchased Damiani Products shall pass from Damiani to the B&M Group when the B&M Group takes
possession of the Damiani Products at its specified Distribution Centre. 

  

	 	6.7	 Upon the delivery in accordance with this Section 6 of any Damiani Products, the B&M Group shall have ten (10) Business Days to inspect
such Damiani Products in accordance with its “Quality Assurance Inspection Program”. If any of the Damiani Products, do not meet the quality standards and specifications of the B&M Group’s “Quality Assurance Inspection
Program” – a copy of which shall have been provided to Damiani before the signature of this agreement by the B&M Group to Damiani, are damaged, contain a manufacturer’s defect or flaw or are otherwise not fit for resale to B&M
Group’s customers, are not in conformity with the samples, specifications or other descriptions provided by the B&M 

 

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Group to Damiani, or in the event of a material breach by Damiani of any obligation hereunder or under any purchase order or any warranty, express or implied, or any claim by the B&M Group or
any third party of non-compliance with applicable laws or regulations (including, without limitation, infringement or alleged infringement of any trademark, copyright or trade name, and/or any claim of unfair competition or interference with
contractual relations), the B&M Group shall within a reasonable period of time from becoming aware of the event provide a written notice to Damiani of such an event (stating in reasonable detail the nature of the event and shall consult with
Damiani with respect to the event). In the event that the quality standards or specifications are not met, the B&M Group may, at its option, return such Damiani Product(s). Any and all Damiani Products returned to Damiani shall be at
Damiani’s sole risk and expense. Damiani shall, immediately upon return of any such products, provide the B&M Group with a refund of all monies paid by the B&M Group for such products or offset such amount against any sums owing to
Damiani or, at Damiani’s option, repair or replace such products at Damiani’s expense. Furthermore, any additional costs resulting from order discrepancies shall be assumed by Damiani. Damiani acknowledges that receipt and inspection of
any Damiani Products does not waive any rights or stop the B&M Group from asserting any rights (including, without limitation, the right to return the products and obtain a refund of all monies paid or offset such amount against sums owing to
Damiani), claims or demands based on subsequently discovered defects, defaults or breaches. In addition, the B&M Group retains its right to pursue all other remedies and damages available to it under the law or in equity and be indemnified in
accordance with Section 8.1 hereof. Nothing in this Section 6 shall in any way restrict or limit the general obligation at law of the B&M Group to mitigate any loss which it may incur as a result of any matter giving rise to any such
claim. 

  

	 	6.8	Subject to the provisions of this Agreement, in the event that the Damiani Products are not delivered within the delivery schedule required by the B&M Group, and a
new delivery schedule is not agreed to, the B&M Group could refuse the relative order. 

 Section 7 Representations
and Warranties of Damiani 
  

	 	7.1	Damiani represents and warrants to the B&M Group that: 

  

	 	a)	Damiani is duly incorporated, validly existing and in good standing under the laws of its jurisdiction of incorporation; 

 

	 	b)	Damiani has the power and authority to enter into and perform its obligations under this Agreement and to grant all rights which it grants hereunder;

  

	 	c)	the execution of this Agreement by Damiani and the performance by Damiani of its obligations hereunder have been duly authorized by all necessary corporate action on
its part. Such execution and performance by Damiani does not require any action or consent of, any registration with, or notification to, any person, or any action or consent under any laws to which Damiani is subject; 

 

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	 	d)	this Agreement constitutes a legal, valid and binding obligation of Damiani, enforceable against it in accordance with its terms; 

 

	 	e)	the rights and obligations of Damiani hereunder are not in conflict with applicable law or with its constating documents or any of its contractual commitments,
undertakings or third party agreements; 

  

	 	f)	all Damiani Products provided by Damiani to the B&M Group will be free from all defects in material and workmanship, considering the handmade nature of the product,
and will conform to the quality and packaging standards that may be provided to Damiani from time to time by the B&M Group; 

  

	 	g)	all Damiani Products to be delivered by Damiani to the B&M Group pursuant to this Agreement shall conform in every manner to the B&M Group’s “Quality
Assurance Inspection Program” and to the samples, models, drawings, plans, specifications and any other descriptions made to or received by Damiani or the B&M Group as the case may be; and 

 

	 	h)	all Damiani Products to be delivered by Damiani to the B&M Group pursuant to this Agreement will be of consistent kind and high quality, conform to representations
of merchantability and fitness for particular purpose and conform to all government and regulatory standards of manufacture, specifications and quality. 

  

	 	7.2	The B&M Group has specifically relied upon such representations and warranties in entering into this Agreement. Damiani acknowledges that the B&M Group is
purchasing the Damiani Products for resale by B&M Group on its own behalf and, accordingly, represents and warrants that Damiani’s and all other warranties with respect to the Damiani Products are transferable to the B&M Group’s
ultimate consumer and that all such warranties are completely effective and enforceable by the B&M Group and/or its ultimate consumer. All warranties, both express and implied, shall constitute conditions and survive inspection, acceptance and
payment. 

  

	 	7.3	 Damiani further warrants that it is the owner of or has the right to use the Damiani Products’ Intellectual Property (as defined in
Section 13.1 hereof) and that the Damiani Products and the Damiani Products’ Intellectual Property will not interfere with any contractual rights or infringe upon any patents and/or copyrights and/or any trademark, trade dress, trade name
or similar property right, and Damiani warrants and agrees that all Damiani Products delivered to the B&M Group pursuant to this Agreement shall be and remain free and clear of all encumbrances, liens, claims and debts of any nature whatsoever.
Damiani warrants that at the time of transfer of the Damiani Products to the B&M Group, Damiani shall have good and marketable title to such products free and clear of all encumbrances, hypothecs and charges and that the transfer of such
products, where applicable, shall be rightful and shall not be subject to any import quota, restrictions or regulation preventing or forbidding the importation or sale of the products or any component part thereof. All Damiani Products shall be in
full compliance with all domestic and foreign customs and other government regulations, including without limitation marking and packaging requirements. Damiani hereby represents and warrants to the B&M Group that all Damiani

  

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Products purchased from time to time by the B&M Group are authentic and genuine as properly marked and represented. Without limitation, such products are accurately and properly marked,
labelled and manufactured by Damiani, and such products are neither counterfeit nor adulterated in any manner and Damiani has the lawful right to sell such products to the B&M Group without breaching any third party rights and without any resale
restrictions imposed on the B&M Group. 

  

	 	7.4	Damiani will provide any person that purchases a Damiani Product at a B&M Group store with its standard warranty with respect to such Damiani Product. Damiani will
provide the B&M Group with copies of Damiani’s written warranty with respect to each Damiani Product so that the B&M Group may, on Damiani’s behalf, provide a copy of such written warranty for the benefit of any person that
purchases a Damiani Product at a B&M Group store. 

 Section 8 Indemnification by Damiani 

 

	 	8.1	Upon written notice, Damiani shall protect, defend, indemnify and hold harmless the B&M Group, its affiliates, officers, employees and agents against all
liabilities and damages resulting from threats of actions, actions, proceedings, suits, claims, liabilities, demands, penalties, fines, costs and expenses (including, without limitation, reasonable attorneys’ fees and costs), or any other cost
or loss asserted against, incurred by or imposed upon the B&M Group by reason of any actual or alleged violation or breach by Damiani of any of the warranties, representations, covenants or other obligations of Damiani set forth herein or in any
purchase order entered into hereunder or any claim of infringement or alleged infringement of any copyright, a claim of infringement or alleged infringement of any trademark, trade dress, trade name, brand name, and/or any claim or alleged claim of
unfair competition or interference with contractual relations; provided, however, that no settlement of such threats of action, actions, proceedings, suits, claims, liabilities or demands may be made without the B&M Group’s prior written
consent to the terms thereof. Damiani agrees to represent the B&M Group with attorneys reasonably acceptable to the B&M Group or the B&M Group, at its option, may represent itself and Damiani will promptly reimburse the B&M Group for
such reasonable expenses as incurred. Damiani’s indemnification shall apply to recall or seizure of Damiani Products whether voluntary or involuntary as requested by any governmental agency, and to the effects of such actions as may be required
to assure compliance with all appropriate laws, regulations, rules, guidelines, ordinances and/or standards governing the importation, safety or labelling of such products. This Section 8.1 shall survive the termination or expiration of this
Agreement. 

  

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 Section 9 Representations and Warranties of the B&M Group 

 

	 	9.1	The B&M Group represents and warrants to Damiani that: 

  

	 	a)	each of Birks and Mayors is duly incorporated, validly existing and in good standing under the laws of its respective jurisdiction of incorporation;

  

	 	b)	the B&M Group has the power and authority to enter into and perform its obligations under this Agreement and to grant all rights which it grants hereunder;

  

	 	c)	the execution of this Agreement by the B&M Group and the performance by the B&M Group of its obligations hereunder have been duly authorized by all necessary
corporate action on its part. Such execution and performance by the B&M Group does not require any action or consent of, any registration with, or notification to, any person, or any action or consent under any laws to which the B&M Group is
subject; 

  

	 	d)	this Agreement constitutes a legal, valid and binding obligation of the B&M Group, enforceable against it in accordance with its terms; 

 

	 	e)	the rights and obligations of the B&M Group hereunder are not in conflict with applicable law or with its constating documents or any of its contractual
commitments, undertakings or third party agreements; and 

  

	 	f)	Birks and/or Mayors, as the case may be, holds and shall maintain for the whole term of this Agreement, all licenses, permits and governmental or regulatory approvals
required in order to sell and distribute the Damiani Products in those jurisdictions in which B&M Group stores are operated. Birks and/or Mayors is/are responsible for obtaining any necessary import licences or permits required for the entry of
the Damiani Products into Canada or the U.S.A. in case of direct delivery from Damiani to B&M Group. 

 Section 10
Indemnification by the B&M Group 
  

	 	10.1	Upon written notice, the B&M Group shall protect, defend, indemnify and hold harmless Damiani, its affiliates, officers, employees and agents against all
liabilities and damages resulting from threats of actions, actions, proceedings, suits, claims, liabilities, demands, penalties, fines, costs and expenses (including, without limitation, reasonable attorneys’ fees and costs), or any other cost
or loss asserted against, incurred by or imposed upon Damiani by reason of any actual or alleged violation or breach by the B&M Group of any of the warranties, representations, covenants or other obligations of the B&M Group set forth herein
or in any purchase order entered into hereunder; provided, however, that no settlement of such threats of action, actions, proceedings, suits, claims, liabilities or demands may be made without Damiani’s prior written consent to the terms
thereof. The B&M Group agrees to represent Damiani with attorneys reasonably acceptable to Damiani or Damiani, at its option, may represent itself and the B&M Group will promptly reimburse Damiani for such reasonable expenses as incurred.
This Section 10.1 shall survive the termination or expiration of this Agreement. 

  

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 Section 11 Covenants of the Parties 

 

	 	11.1	Subject to Sections 11.3 and 11.6 hereof, throughout the Term of this Agreement (as defined in Section 14.1 hereof), and for so long as the B&M Group is not in
material breach of its obligations hereunder, Damiani expressly grants to the B&M Group the exclusive right to sell the Exclusive Brands (“Exclusive Brands” means (i) Damiani branded Damiani Products,
(ii) Alfieri & St. John branded Damiani Products, and (iii) Salvini branded Damiani Products) in Canada, provided such products are sold under the respective brand name. Notwithstanding the foregoing, the current retail locations
served by Damiani in Canada (a list of which shall have been provided to the B&M Group prior to the date hereof) may continue to distribute and sell Damiani Products including the Exclusive Brands. 

 

	 	11.2	Subject to Sections 11.3 and 11.6 hereof, throughout the Term of this Agreement (as defined in Section 14.1 hereof), and for so long as B&M Group is not in
material breach of its obligations hereunder, Damiani expressly grants to the B&M Group the exclusive right to sell the Exclusive Brands in the State of Florida and the Greater Metropolitan Area of Atlanta, Georgia (collectively,
“USA”), provided such products are sold under the respective brand name. Notwithstanding the foregoing, the current retail locations served by Damiani in such areas (a list of which shall have been provided to the B&M Group
prior to the date hereof) may continue to distribute and sell Damiani Products including the Exclusive Brands. 

The exclusivity areas referred to in Sections 11.1 and 11.2 are hereinafter referred to as the “Exclusive B&M Group
Areas”. 
  

	 	11.3	Starting from April 1, 2011 until the termination of this Agreement, in the event that in the prior fiscal year the B&M Group’s sales for each of the
Exclusive Brands respectively in the USA or Canada respectively have achieved at least 90 percent of the sales goal for each of the Exclusive Brands respectively in that country as contained in the Annual Business Plan then, except as otherwise
provided in Section 11.4 hereof, for the subsequent fiscal year, Damiani agrees not to sell the respective Exclusive Brand that has achieved the above-mentioned sales goal through any new points of distribution through third party retailers or
to open any mono-brand stores, in the USA or Canada respectively. 

  

	 	11.4	 Notwithstanding Sections 11.2 and 11.3 hereof, Damiani will have the right to open at any time one new Damiani mono-brand store in Miami (Florida) and
the B&M Group shall have the right of first refusal to operate such store. If the B&M Group declines to exercise its right of first refusal and Damiani opens such mono-brand store, and if in the B&M Group’s stores that are within a
30 mile radius of such new mono-brand store the sales of any of the Exclusive Brands over a period of at least 6 months (an “Underperformance Period”) decrease by more than 10% from the average variance from plan over the same
period of the other B&M Group stores in the USA (the “Affected Miami Radius Stores”), then the B&M Group shall have the right, within six (6) months from the expiration of an Underperformance Period, to cease
distributing in the Affected Miami Radius Stores such Exclusive Brands whose sales have decreased and that are sold in the Damiani mono-brand store and to return to Damiani, at Damiani’s expense, such

  

 - 11 - 

	 	 
products under the Exclusive Brands whose sales have decreased from the Affected Miami Radius Stores. The price paid by the B&M Group to Damiani for the Exclusive Brands returned to Damiani
shall be reimbursed by Damiani to the B&M Group as follows: (i) the B&M Group will first offset any such amount against any accounts payable (even if not due yet) owed by the B&M Group to Damiani; and (ii) if such accounts
payable are insufficient to cover the amount to be reimbursed, then Damiani shall reimburse any remaining amount within ninety (90) days from the date that the Exclusive Brands were returned. 

 

	 	11.5	In the event that in a B&M Group store that is within a 30 mile radius of the existing retailers selling Exclusive Brands in accordance with this Agreement, the
sales of any of the Exclusive Brands over an Underperformance Period decrease by more than 10% from the average variance from plan over the same period of the other B&M Group stores in Canada or USA, as the case may be (the “Affected
Retailer Radius Stores”), then the B&M Group shall have the right to cease distributing in the Affected Retailer Radius Stores such Exclusive Brands whose sales have decreased and that are sold in the existing retailers within the 30
mile radius and to return to Damiani, at Damiani’s expense, such products under the Exclusive Brands whose sales have decreased. The price paid by the B&M Group to Damiani for the Exclusive Brands returned to Damiani shall be reimbursed by
Damiani to the B&M Group as follows: (i) the B&M Group will first offset any such amount against any accounts payable (even if not due yet) owed by the B&M Group to Damiani; and (ii) if such accounts payable are insufficient to
cover the amount to be reimbursed, then Damiani shall reimburse any remaining amount within ninety (90) days from the date that the Exclusive Brands were returned. 

 

	 	11.6	Starting from April 1, 2011 until the termination of this Agreement, in the event that in the prior fiscal year the B&M Group’s sales of any of the
Exclusive Brands for either USA or Canada have achieved less than 90 percent of the sales goal for each of the Exclusive Brands in that country as contained in the Annual Business Plan, then: 

 

	 	a)	Damiani shall have the right to sell that particular Exclusive Brand through new points of distribution through third party retailers or to open mono-brand stores in
the regions of the underperforming country in which the sales of that particular Exclusive Brand fell short of the Annual Business Plan by more than 10%; 

  

	 	b)	If Damiani intends to open a new mono-brand store, then the B&M Group shall have the right of first refusal to open such a store for Damiani in accordance with this
Agreement; 

  

	 	c)	 If Damiani begins to distribute any of the Exclusive Brands in accordance with Section 11.6 (a) of this Agreement through a new point of
distribution through a third party retailer or through a mono-brand store, after receiving notice from the B&M Group that it declined to exercise its right of first refusal to open a mono-brand store, and if in the B&M Group’s stores
that are within a 30 mile radius of such new store or point of distribution, the sales of any of the Exclusive Brands over an Underperformance Period decrease by more than 10% from the average variance from plan over the same period of the other
B&M Group stores in Canada or USA, as the case may be (the “Affected Stores”), then the B&M Group shall have the right, within twelve (12) months from the expiration of an Underperformance Period, to cease

  

 - 12 - 

	 	 
distributing in the Affected Stores such Exclusive Brands whose sales have decreased and that are sold in the new store or point of distribution with a 30 mile radius and to return to Damiani, at
Damiani’s expense, such products under the Exclusive Brands whose sales have decreased from the Affected Stores. The price paid by the B&M Group to Damiani for the Exclusive Brands returned to Damiani shall be reimbursed by Damiani to the
B&M Group as follows: (i) the B&M Group will first offset any such amount against any accounts payable (even if not yet due) owed by the B&M Group to Damiani; and (ii) if such accounts payable are insufficient to cover the
amount to be reimbursed, then Damiani shall reimburse any remaining amount within ninety (90) days from the date that the Exclusive Brands were returned. 

 

	 	11.7	In the event that the B&M Group loses its exclusivity rights on the Exclusive Brands in accordance with Section 11, the B&M Group shall have the right to
specific product and/or collection exclusivity in the Exclusive Brands in the Exclusive B&M Group Areas, subject to the mutual agreement of the Parties with respect to reasonable minimum purchase obligations and/or consignment volumes by the
B&M Group for such specific product or collection. 

  

	 	11.8	The duty free areas are expressly excluded from any exclusive right. 

  

	 	11.9	During the Term of this Agreement (as defined in Section 14.1 hereof) and beyond its termination, the B&M Group shall not sell the Damiani Products outside of
its direct stores listed in Annex A attached hereto and as may be amended from time to time between the Parties (“Annex A”). 

  

	 	11.10	Damiani undertakes to grant to the B&M Group the priority in terms of delivery, service, manufacturing and marketing support for the Damiani Products compared to
other third party retailers within the Exclusive B&M Group Areas. 

  

	 	11.11	During the Term of this Agreement, Damiani undertakes to supply the B&M Group with Damiani Products and the B&M Group shall purchase Damiani Products only from
Damiani. It is strictly forbidden for the B&M Group to purchase directly or indirectly Damiani Products from other sellers, or to sell Damiani Products through sale channels other than its direct stores, during this present Agreement and beyond
its termination, without Damiani’s prior express written consent. 

  

	 	11.12	Throughout the Term of this Agreement (as defined in Section 14.1 hereof), except as provided for in Sections 11.1, 11.2, 11.3 11.4, 11.5, 11.6 and 11.8, Damiani
shall not through itself or through any other member of the “Damiani Group”, or through any other affiliate or subsidiary, sell or distribute, nor shall it appoint or permit any other distributor, agent or third party to sell or distribute
Exclusive Brands in any of the Exclusive B&M Group Areas. 

  

	 	11.13	The B&M Group shall endeavour to offer Damiani Products for sale in 50 to 60 of its selected stores. In such stores, the B&M Group shall use its commercially
reasonable efforts to: (i) provide priority to the Major Brands in relation to the other jewelry brands offered in such stores, other than products under the Birks brand, the whole provided that the provision of such priority to Damiani
Products would not jeopardize the B&M Group’s sales or such individual store’s existing business, and (ii) promote and display the Damiani Products consistent with the B&M Group’s existing display standards.

  

 - 13 - 

	 	11.14	The B&M Group shall allow authorized Damiani personnel to take inventory of all Damiani Products in the B&M Group stores on a semi-annual basis (whether such
inventory is on display or is located in a secured area on or off the premises). The B&M Group shall also allow authorized Damiani personnel, at any time upon reasonable prior notice, to access the B&M Group’s premises during regular
business hours and to consult with the B&M Group’s staff pertaining to any purchase or sale of Damiani Products by the B&M Group for the purpose of verifying the B&M Group’s compliance with the terms of this Agreement.

  

	 	11.15	Unless otherwise agreed to by Damiani, the B&M Group will only resell Damiani Products from the premises of a B&M Group store and such resells shall be limited
to sales to bona fide and final customers of the B&M Group. The B&M Group agrees that it shall not resell Damiani Products to other retail dealers, whether or not those dealers are authorized Damiani dealers, or to any buyer other
than a bona fide and final customer of the B&M Group. 

  

	 	11.16	Damiani and the B&M Group shall work together in good faith to develop a detailed marketing plan on an annual basis during the Term of this Agreement. The Parties
agree that the said marketing plan shall be supported by a budget amount as provided below [*]. 

  

	 	11.17	The said marketing plan, as well the related budget, shall include the following: 

 

	 	a)	Advertising materials. 

Notwithstanding the foregoing, advertising materials necessary for the advertising production (such as photos, layouts, etc.) shall be
developed and provided by Damiani and approved by the B&M Group, or in certain instances, proposals can be made by the B&M Group with the approval of Damiani, provided that production materials will be supplied by Damiani at no cost to the
B&M Group. 
  

	 	b)	Marketing plan and expenses. 

The marketing plan shall include among others, advertising, catalogue, direct mail and in-store events which shall be mutually agreed
upon on an annual basis, the costs of which shall be shared in accordance with Section 11.16. Damiani will pay for these mutually agreed upon expenses and the B&M Group shall reimburse Damiani its share of the expenses within 30 days from
receipt of an invoice and supporting documentation from Damiani for the incurred expenses or Damiani may offset any amount to be reimbursed by the B&M Group against any amounts due to the B&M Group by Damiani. The Parties will agree upon
those elements of the marketing plan for which the B&M Group will incur the cost and for which the respective amount will, at the B&M Group’s option, be reimbursed by Damiani within 30 days from receipt of an invoice and supporting
documentation from B&M Group for the incurred expenses or offset by the B&M Group against any amount due to Damiani. 
  

 - 14 - 

	 	c)	The “SHPP” events (super high profile promotion) which will promote the sale of Damiani Products between the months of November and May of each year, will be
mutually agreed upon and organized in the stores of the B&M Group where the Damiani branded Damiani Products is offered to the B&M Group’s retail customers or in the shopping malls where the B&M Group stores are located and in the
areas close to such stores, if appropriate and allowed by the shopping mall. 

  

	 	d)	Special events to promote the Damiani brand masterpiece collection of products (such collection to be defined by Damiani) will be organized during the whole year with
reserved invitation to the top retail customers of the B&M Group. The Parties will agree on the scheduling and budget for each Damiani brand masterpiece events. 

 

	 	e)	Catalogues. 

 The Parties will
work together to promote the sales of Damiani Products also through the catalogues of the B&M Group giving a priority visibility to the Damiani Products relative to other jewelry brands except for the Birks brand and the Van Cleef &
Arpels brand. 
 With reference to the Calderoni brand, such brand will not be included in the B&M Group’s catalogues,
rather it will have a specific marketing plan developed in each of the store(s) that such brand is represented. 
  

	 	11.18	In addition to the foregoing, the B&M Group undertakes to: 

  

	 	a)	give to the Damiani Products a position in internal counters and external windows, when and where appropriate, that will have the priority in terms of visibility among
other jewellery brands sold by B&M Group, except for products under the Birks brand and the Van Cleef & Arpels brand. The Parties undertake to review and agree upon the possible solutions store by store; 

 

	 	b)	provide a commission program to its sales professionals for the sale of Damiani Products which shall be equal to the applicable commission program for the sale of
products under the Birks brand and which is no less than that offered with respect to any other brands offered by the B&M Group and shall be at the sole expense of the B&M Group; 

 

	 	c)	in addition to the above, Damiani will have the right but not the obligation to grant at its sole expense to the sale professionals and to the store directors of the
B&M Group additional incentives that will be agreed upon by the Parties to increase the sales of Damiani Products through the B&M Group stores (i.e. incentive travels, etc.); 

 

	 	d)	the Parties will work together and agree on the way to include Damiani Products in the “Client Appreciation events” that the B&M Group usually organizes
during the month of November of each year in order to distinguish the Damiani Products among the other jewellery brands to promote the Christmas sales. 

  

	 	11.19	 The B&M Group undertakes, over a period of 3 years commencing April 1, 2010, to grant to Damiani the possibility to personalize its presence
in its 10 most 

  

 - 15 - 

	 	 
appropriate stores at Damiani’s sole expense any visual merchandising activity as will be agreed upon by the Parties within the B&M Group standards. In this respect, the Damiani Project
Department will work together with the B&M Group team to make proposals. 

  

	 	11.20	The B&M Group shall be entitled to require Damiani to accept exchanges of Purchased Products with new Damiani Products selected by the B&M Group from
Damiani’s wholesale catalogues and/or from samples of Damiani Products for a total value that is equal to [*]% of the total Cost Value of the Purchased Products, plus [*]% of all future purchases of Damiani Products. The Parties agree that the
exchange of Damiani Products equal to the value calculated as stated above, can be made in part or in total by B&M Group at any time during the term of the present Agreement. Damiani agrees to exchange the products requested by B&M Group
within 60 days (or in special cases in a different timeframe mutually agreed by the Parties) from a written request by B&M Group. The Parties agree that the return and the exchange will take place within the same fiscal year, provided that the
request to return or exchange products is made prior to 60 days before the end of such fiscal year. The Parties agree that on the existing inventory of Damiani Products owned by B&M Group (approximately US$600,000) the refresh ratio is fixed at
[*]% of the inventory amount as of the date of this Agreement. The manner in which such existing inventory shall be returned and exchanged will be the same as described above. All returned and exchanged Damiani Products shall be delivered free and
clear of all liens granted in favour of third parties. 

 It is agreed that during the quarterly meetings referred
to in Section 2.2, Damiani will evaluate in good faith and will use its best efforts to assist the B&M Group with achieving its inventory turn target of [*] through business initiatives including proposals of additional returns. 

 

	 	11.21	The B&M Group undertakes: 

  

	 	(1)	to market and distribute the Damiani Products through its own stores and only to the ultimate retail customers; 

 

	 	(2)	to use its commercially reasonable efforts to provide priority to the Exclusive Brands to its customers through its own stores designated as a “Damiani”
account by the Parties; 

  

	 	(3)	to use its commercially reasonable efforts to promote and display the Damiani Products in its own stores; 

 

	 	(4)	not to sell the Damiani Products by Internet and e-commerce channels or by other direct mail measures, or by door to door selling; 

 

	 	(5)	agree to represent the Damiani Products in keeping with its quality image and prestige; 

 

 - 16 - 

	 	(6)	to diligently safeguard the interests of the Damiani Products for the purpose of increasing sales of the Damiani Products without compromising B&M Group’s
sales or an individual store’s existing or future business; 

  

	 	(7)	to provide a monthly sales report, itemized by product, brand and store, which indicates the value and the quantity of the Purchased Products sold and which will be
sent to Damiani by the B&M Group within 30 days from the end of each month; 

  

	 	(8)	to assume all risk of loss or damage of any Damiani Products which may be provided by Damiani to the B&M Group on consignment, unless such loss or damage is caused
by defects in such products; 

  

	 	(9)	to obtain, maintain and provide proof of proper insurance coverage on terms reasonably acceptable to Damiani for any Damiani Products which may be provided by Damiani
to the B&M Group on consignment at the B&M Group’s expense and to name Damiani as an additional insured party in such reasonable amounts not to exceed the Cost Value of such products; 

 

	 	(10)	to disclose to its lenders and creditors that any Damiani Products which may be provided by Damiani to the B&M Group on consignment are not owned by the B&M
Group, are owned by Damiani and are held by the B&M Group on consignment. 

  

	 	11.22	In order to enable the B&M Group to standardize Damiani’s sales techniques and to follow their expansion, so as to supply customers with the best possible
service, Damiani undertakes to hold and the B&M Group undertakes to attend with all its appropriate sale professionals yearly training courses that will be arranged by Damiani with the cooperation of the B&M Group. The expenses for said
courses (i.e. trip, travelling expenses, board and lodging B&M Group’s employees and other related expenses, etc.) shall be borne by Damiani. 

  

	 	11.23	 Subject to the execution of the Subordination Agreements (as hereinafter defined), each member of the B&M Group shall grant a security interest
over all its assets, including without limitation the inventory, accounts receivable and fixed assets, whether tangible or intangible, whether personal or real, whether now owned or existing or hereafter created, acquired or arising and present and
future, tangible and intangible, wheresoever located, subordinate in priority to the B&M Group’s existing registered security interests and subject to any Permitted Liens (as this term is defined in Annex C attached hereto), in order to
secure payment by the B&M Group for the Purchased Products delivered to it by Damiani pursuant to this Agreement and any Damiani Products which may have been provided on consignment. Should the Subordination Agreements and security agreements
creating such security interest not be executed by October 30, 2009, all purchase orders placed by the B&M Group with Damiani for the Purchased Products shall be immediately cancelled and deemed to be null and void and of no further force
and effect and the rights and obligations of each of the parties to each of the orders shall terminate and no party to an order shall have any further rights or obligations to any other party thereunder. In such event, each party to an order

  

 - 17 - 

	 	 
hereby releases and forever discharges the other parties to such order from all actions, causes of action, liabilities, claims and demands whatsoever which such party ever had, now has or may
hereafter have for or by reason of or in any way arising out of any matter related to the orders to which it is a party. 

Damiani agrees to execute and deliver to each of the existing secured parties with registered security interests a subordination
agreement in form and substance acceptable to each such secured party of the B&M Group and Damiani (collectively, the “Subordination Agreements”). 

Section 12 Confidentiality 
  

	 	12.1	Both Damiani and the B&M Group acknowledge that it may have access to and receive confidential and proprietary information from the other party, including, but not
limited to, organizational structure, business plans, marketing philosophy and objectives, competitive advantages and disadvantages, cost figures, sales or other financial results, vendor names and addresses, and distributor names and addresses. It
is agreed that Damiani and the B&M Group shall protect the confidentiality of any information disclosed by the other party and that they each will not disclose such information of the other party, either directly or indirectly, to any third
person or entity without the prior written consent of such other party. This confidentiality covenant has no temporal, geographical or territorial restrictions. Notwithstanding the foregoing, the provisions of this confidentiality provision shall
not apply to information: (i) which is in the public domain other than through a violation of this provision, or (ii) which is required to be disclosed pursuant to the valid order, rule or regulation of an administrative agency or judicial
court of competent jurisdiction, provided that the party obligated to disclose such information shall notify the other party of any disclosure required by law and provide such other party with the opportunity to intervene and contest such
disclosure. The terms of this provision shall survive the expiration or termination of this Agreement and/or the termination of the relationship between Damiani and the B&M Group. 

 

	 	12.2	Upon the termination of this Agreement or upon the request of either party, each party shall: (i) return or cause to be returned to the other party all copies of
any confidential information of the other party in its possession or in the possession of its Representatives, and (ii) destroy all copies of any analyses, compilations, studies or other documents prepared by the party or for its use
containing, incorporating or reflecting any confidential information of the other party, in either case, before the close of business 48 hours following the date of the termination of this Agreement or, as the case may be, the request by a party to
return all confidential information. 

  

	 	12.3	Either party may only issue press releases concerning this Agreement after receiving approval of the content of such releases by the other party.

 Section 13 Intellectual Property 
  

	 	13.1	 Damiani confirms that it is the owner of or has the right to use the various intellectual property it uses in connection with the Damiani Products,
including, 

  

 - 18 - 

	 	 
without limitation, the Major Brand names, the Minor Brand names, any and all other brand names of Damiani Products (as the case may be), as well as all logos, product names, trade names and
trademarks (whether registered or not) used in connection with the Damiani Products (collectively, the “Damiani Products’ Intellectual Property”). Damiani hereby grants to the B&M Group for the Term of this Agreement (as
defined in Section 14.1 hereof) and for a period of six (6) months thereafter, a non-exclusive, royalty-free license to use the Damiani Products’ Intellectual Property for the purpose of distributing and selling the Damiani Products.
Any use of the Damiani Products’ Intellectual Property by the B&M Group in any approved advertising, marketing campaign or promotional materials shall be accompanied by a notice that indicates that all Damiani Products’ Intellectual
Property is the property of Damiani and is being used by the B&M Group solely with Damiani’s permission. 

  

	 	13.2	The B&M Group expressly agrees that it has no right, title or interest to the Damiani Products’ Intellectual Property and that it may only use such Damiani
Products’ Intellectual Property in accordance with the terms of Section 13.1 hereof. 

  

	 	13.3	Upon the prior written consent of the B&M Group, throughout the Term of this Agreement (as defined in Section 14.1 hereof), Damiani or any authorized affiliate
of Damiani shall have the non-exclusive right to use the names “Birks”, “Mayors” and “Birks & Mayors” in a corporate presentation or, in agreed to manner by the B&M Group, on its corporate letterhead or
other such written materials. Any use of the names “Birks”, “Mayors” or “Birks & Mayors” in accordance with the foregoing shall be accompanied by a notice that indicates that all such names are the property of
the B&M Group and are being used by Damiani solely with the B&M Group’s permission. 

  

	 	13.4	Damiani expressly agrees that it has no right, title or interest to the names “Birks”, “Mayors” or “Birks & Mayors” and that it
may only use such names in accordance with the terms of Section 13.3 hereof. 

 Section 14 Term of the Agreement.

  

	 	14.1	 The term of this Agreement (the “Term”) shall commence on the date hereof and, unless terminated, extended or renewed in accordance
with Sections 14 and 15 hereof, shall terminate on the 5th
anniversary of the date hereof. 

  

	 	14.2	 Within 6 months prior to the expiration of the
5th anniversary of the date hereof, the Parties shall
re-evaluate in good faith the extension or renewal of this Agreement upon such terms and conditions as may be agreed to at such time by the Parties. 

Section 15 Termination of the Agreement. Consequences. 
  

	 	15.1	Material Breach. Either party may terminate this Agreement by notice to the other party if the other party shall fail to cure any material breach of this Agreement
within 30 days after notification of such material breach. 

  

 - 19 - 

	 	15.2	Insolvency. This Agreement shall terminate automatically without notice to either party if any of Damiani, Birks or Mayors is adjudicated bankrupt, makes a general
assignment for the benefit of its creditors, or takes the benefit of any insolvency, re-organization or other relief act, or if a receiver or trustee is appointed for its property. 

 

	 	15.3	In the event of termination or expiration of the Agreement, nothing shall be owed between the Parties by way of indemnification, except for any indemnification deriving
from contract breaches or fraudulent and/or negligent actions. 

  

	 	15.4	In case of termination or expiration of the Agreement, for any reason, the B&M Group: 

 

	 	a)	shall cease to use the Damiani’s trademark and any distinctive signage and shall cease to define itself a distributor of Damiani; 

 

	 	b)	shall return to Damiani all documentation, productions, drawings of any nature whatsoever which may have remained in its possession and which pertain to the Damiani
Products constituting the subject of this Agreement, or to Damiani; 

  

	 	c)	shall return all promotional and advertising materials in its possession supplied by Damiani; 

 

	 	d)	in general shall refrain from acting in such a way that third parties may reasonably be induced to believe that the contractual relationship between the B&M Group
and Damiani is continuing; 

  

	 	e)	shall bind itself not to use any sale method that is not in keeping with the image of prestige and quality concerning the Damiani Products, brands and distinctive
signs; 

  

	 	f)	the B&M Group shall promptly return to Damiani any Damiani Products which may have been provided on consignment; 

 

	 	g)	At its sole discretion and within three months from termination or expiration of this Agreement, Damiani shall have the right to buy back from B&M Group all or part
of the inventory of the remaining Damiani Products not already returned by the B&M Group to Damiani in accordance with Section 5 hereof at the price calculated by discounting the Cost Value of the B&M Group with a percentage of [*]. The
price paid by the B&M Group to Damiani for such Damiani Products bought back by Damiani shall be reimbursed by Damiani to the B&M Group as follows: (i) the B&M Group will first offset any such amount against any accounts payable
(even if not due yet) owed by the B&M Group to Damiani; (ii) if such accounts payable are insufficient to cover the amount to be reimbursed, then Damiani shall reimburse any remaining amount within ninety (90) days from the date that
the Damiani Products were delivered to Damiani. 

  

	 	15.5	In case of termination or expiration of the Agreement each Party’s future rights and obligations hereunder shall cease immediately; provided that the termination
does not affect (i) a Party’s accrued rights and incurred obligations as at the date of termination or expiration and (ii) the continued existence and validity of the rights and obligations of the Parties under those clauses which
expressly provide for the survival thereof after termination or expiration of the Agreement and any provisions of this Agreement necessary for the interpretation or enforcement of this Agreement. For greater certainty but without limiting the
generality of the foregoing, the provisions of Sections 5, 7, 8, 9, 10, 11.23, 12, 15, 16 and 17 shall survive the termination or expiration of this Agreement. 

 

 - 20 - 

 Section 16 Notices 

 

	 	16.1	Any notice or other communication to be given in connection with this Agreement by one party to the other shall be given in writing and shall be given by registered
mail or by facsimile, and if by registered mail or facsimile shall be addressed to the recipient as follows: 

 If
to Damiani: 
 Damiani International B.V. Swiss branch 

Centro Galleria 3 – Via Cantonale 

6928 Manno – Switzerland 

Attention: Legal Department 

Facsimile: ++41 916101555 

If to the B&M Group: 

Birks & Mayors Inc. 

1240 Phillips Square 

Montreal, Québec 

H3B 3H4 

Attention: Group Vice-President, Legal Affairs 

Facsimile:(514) 397-2537 
  

	 	16.2	Any notice or other communication is deemed to be delivered and received: (i) if sent by registered mail, on the third next business day, or (ii) if sent by
facsimile, on the same business day of the date of confirmation of transmission by the originating facsimile, or (iii) if given by personal delivery, on the same business day of delivery. For the purposes of this Agreement, “business
day” means Monday to Friday, inclusively, exclusion made of any day that is a statutory holiday in the Province of Québec. 

  

	 	16.3	Either party may change its address for service from time to time by providing a notice in accordance with the foregoing. Any subsequent notice or other communication
must thereafter be sent to such party at its changed address. 

 Section 17 General Provisions 

 

	 	17.1	Time shall be of the essence of this Agreement. 

  

	 	17.2	The relationship between Damiani and the B&M Group is that of independent contractors, and neither party nor its employees, agents or representatives shall in any
event be construed as the mandatary, principal, agent, partner, joint venturer, franchisor, franchisee or representative of the other. Both are independent contractors acting for their own accounts, and neither is authorized to make any commitment
or representation, express or implied, on the other’s behalf unless authorized to do so by the other party by way of a signed written instrument. 

 

 - 21 - 

	 	17.3	This Agreement shall enure to the benefit of and shall be binding on and enforceable by the Parties and, where the context so permits, their respective successors and
permitted assigns. No assignment by either party of any of its respective rights and obligations hereunder shall be permitted without the prior written consent of the other party. 

 

	 	17.4	The Parties recognize that either of them may for operating convenience or other reasons use standard printed orders or forms for ordering, purchasing, delivering,
acknowledging or accepting products or for other similar purposes. Notwithstanding the use of such orders or forms, the terms and conditions thereof are hereby waived and shall be considered as having no force and effect to the extent they are
inconsistent with the terms set forth in this Agreement. 

  

	 	17.5	The B&M Group acknowledges that Damiani parent company, DAMIANI S.p.A., is a publicly-traded company listed on the Italian Stock Exchange (MTA) and acknowledges to
be aware that the Italian securities laws may prohibit any person and entity who has material, non-public information concerning DAMIANI S.p.A. and its subsidiaries from communicating such information to any other person or to use such information
to make speculative transactions on Damiani securities. The B&M Group acknowledges that the “DAMIANI Group” adopted a Code of Conduct, declares to know it (“Codice Etico” – Annex “B”) and undertakes to
manage its business in compliance with the provisions of said Code of Conduct, provided it does not conflict with the B&M Group’s Code of Conduct or other applicable policies, and laws applicable to the B&M Group.

  

	 	17.6	The terms and conditions of this Agreement are subject to the terms and conditions of the Subordination Agreement to be entered into among the B&M Group, Damiani
and the B&M Group’s lenders. 

  

	 	17.7	The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision. If any provision of this
Agreement is declared by any court of competent jurisdiction to be illegal, void or unenforceable, all other provisions of this Agreement shall remain in full force and effect. 

 

	 	17.8	Each party shall not be responsible for any failure to perform its obligations under this Agreement due to a superior force or cause (“force majeure”) beyond
the reasonable control of such party, including, but not limited to, sabotage, riot, fire, flood, insurrection, terrorism, war or acts of God. 

  

	 	17.9	 No modification of or amendment to this Agreement shall be valid or binding unless set forth in writing and duly executed by Damiani, on the one side,
and Birks, acting for itself and in the name and on behalf of Mayors, on the other side. No waiver of any breach of any term or provision of this Agreement shall be effective or binding unless made in writing and signed by the party purporting to
give the same and, unless otherwise provided, shall be limited to the specific breach waived. No failure on the part of either party to exercise, and no delay in 

 

 - 22 - 

	 	 
exercising, any right under this Agreement shall operate as a waiver of such right. No single or partial exercise of any such right shall preclude any other or further exercise of any such right
or the exercise of any other right. 

  

	 	17.10	Each party shall from time to time execute and deliver all such further documents and instruments and do all acts and things as the other party may, either before or
after the execution hereof, reasonably require to effectively carry out or better evidence or perfect the full intent and meaning of this Agreement. 

  

	 	17.11	The Parties agree that invoices from Damiani to B&M Group will be always denominated and paid in US dollars. However, suggested retail prices will be denominated in
local currencies of the respective country (USA or Canada). 

  

	 	17.12	This Agreement constitutes the entire agreement between the Parties with respect to the sale and resale of Damiani’s products and to the subject matter hereof and
cancels and supersedes any prior understandings and agreements between the Parties with respect thereto. Therefore, starting from the date hereof, any inventory of Damiani’s products, either purchased by or held on consignment by the B&M
Group, shall be subject to the provisions hereof. There are no representations, warranties, conditions, agreements, undertakings or acknowledgements, express or implied, that form part of or affect this Agreement, or which induced any party to enter
into this Agreement or on which reliance was placed by any party, except as specifically set forth in this Agreement. 

  

	 	17.13	This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same
instrument. The Parties agree that this Agreement may be transmitted by telecopier and/or electronic PDF copy and that the reproduction of signatures by telecopier and/or electronic PDF copy will be treated as binding as if originals.

  

	 	17.14	This Agreement and all sales made pursuant to this Agreement shall be governed by and interpreted and enforced in accordance with the laws of the Province of
Québec and the federal laws of Canada applicable therein. The Parties hereby attorn to the non-exclusive jurisdiction of the courts of the Province of Québec. Damiani irrevocably waives, in connection with any such action or
proceeding, any objection, (including without limitation, any objection to venue or based on the grounds of forum non conveniens), which it may now or hereafter have to the bringing of any such action or proceedings in such jurisdiction. The
application of the United Nations Convention for the International Sale of Goods of April 11, 1980 as may be amended from time to time is expressly excluded. 

 

	 	17.15	Where a US Dollar amount has to be converted or expressed in another currency, or where its equivalent in another currency has to be determined (or vice versa),
the calculation is made at the spot rate announced by the Bank of Canada at or around noon on the Business Day preceding the relevant date for the relevant currency against US Dollars (or vice versa). 

 

	 	17.16	 If a judgment is to be rendered against a Party for an amount owed hereunder and if the judgment is rendered in a currency (“Other Currency”)
other than that in which this amount is owed under this Agreement (“Currency of the Agreement”), 

  

 - 23 - 

	 	 
such Party must pay, if applicable, at the date of payment of the judgment, an additional amount equal to the excess (i) of the amount owed under this Agreement, expressed into the Other
Currency as at the date of payment of the judgment, over (ii) the amount of the judgment. For the purposes of obtaining the judgment and making the calculation referred to in (i), the exchange rate shall be the average spot rate, on the
relevant date, announced by the Bank of Canada for the Other Currency. Any additional amount owed under this Section 17.16 will constitute a cause of action distinct from the cause of action which gave rise to the judgment, and said judgment
shall not constitute res judicata in that respect. 

  

	 	17.17	The Parties hereto acknowledge that they have expressly required that the present Agreement and all schedules, documents and notices relating thereto be drafted in the
English language. Les parties aux présentes déclarent qu’elles ont expressément exigé que la présente convention et tous les annexes, documents ou avis qui y sont afférents soient rédigés
en anglais. 

  

 - 24 - 

 IN WITNESS WHEREOF, the parties have caused their duly authorized representatives to execute this
Agreement as of the date first above written. 
  

			
	DAMIANI INTERNATIONAL B.V.
		
	 By:
	 	 /s/ Guido Damiani

		 	Authorized Signing Officer
	
	BIRKS & MAYORS INC.
		
	 By:
	 	 /s/ Thomas A. Andruskevich

		 	Authorized Signing Officer
	
	MAYOR’S JEWELERS, INC.
		
	 By:
	 	 /s/ Thomas A. Andruskevich

		 	Authorized Signing Officer

  

 - 25 - 

 ANNEX A 

DISTRIBUTOR DIRECT STORES LIST 
  

							
	Alberta	  	Toronto Dominion Square	  	Tel.:(403) 260-8700	  	
		  	317 7th Ave SW - Unit 270	  	Fax:(403) 262-8574	  	
		  	Calgary, AB	  		  	
		  	T2P 2Y9	  		  	
				
	Alberta	  	Chinook Shopping Center	  	Tel.:(403) 255-6696	  	
		  	6455 MacLeod Trail S - Unit 0169	  	Fax:(403) 640-1060	  	
		  	Calgary, AB	  		  	
		  	T2H 0K8	  		  	
				
	Alberta	  	Southcenter Shopping center	  	Tel.:(403) 271-4450	  	
		  	100 Anderson Road S.E.	  		  	
		  	Calgary, AB	  		  	
		  	T2J 3V1	  		  	
				
	Alberta	  	Manulife Place	  	Tel.:(780) 426-7290	  	
		  	10180 - 101st Street	  	Tel.:(780) 426-7294	  	
		  	Edmonton, AB	  	Fax:(780) 426-7298	  	
		  	T5J 3S4	  		  	
				
	Alberta	  	Southgate Shopping Center	  	Tel.:(780) 435-4602	  	
		  	111th St. & 51ST Ave #14	  		  	
		  	Edmonton, AB	  		  	
		  	T6H 4M6	  		  	

							
	Alberta	  	West Edmonton Mall	  	Tel.:(780) 444-1656	  	
		  	8770 - 170th Street #1079	  		  	
		  	Edmonton, AB	  		  	
		  	T5T 3J7	  		  	
				
	Alberta	  	Brinkhaus Calgary	  	Tel.:403-269-4800	  	
		  	823 6th Avenue SW	  	Fax: 403-262-7593	  	
		  	Calgary, AB	  		  	
		  	T2P 0V3	  		  	
				
	British - Columbia	  	Vancouver	  	Tel.:(604) 669-3333	  	
		  	698 West Hastings Street	  	Fax:(604) 669-9786	  	
		  	Vancouver, BC	  		  	
		  	V6B 1P1	  		  	
				
	British - Columbia	  	Oakridge Shopping Center	  	Tel.:(604) 266-2301	  	
		  	650 West 41st Ave. #221	  		  	
		  	Vancouver, BC	  		  	
		  	V5Z 2M9	  		  	
				
	British - Columbia	  	Park Royal Mall	  	Tel.:(604) 922-9361	  	
		  	1015 Park Royal Street	  		  	
		  	West Vancouver, BC	  		  	
		  	V7T 1A1	  		  	

  

 - 2 - 

							
	British - Columbia	  	Richmond Center	  	Tel.:(604) 247-1111	  	
		  	6551 No. 3 Road - Unit 1614A	  		  	
		  	Richmond, BC	  		  	
		  	V6Y 2B6	  		  	
				
	British - Columbia	  	Victoria	  	Tel.:250-382-4241	  	
		  	1023 Government Street	  		  	
		  	Victoria, BC	  		  	
		  	V8W 1X6	  		  	
				
	British - Columbia	  	Brinkhaus Vancouver	  	Tel.:604-689-7055	  	
		  	1018 W Georgia Street	  	Fax: 604-689-0442	  	
		  	Vancouver, BC	  		  	
		  	V6E 2Y2	  		  	
				
	Manitoba	  	Winnipeg	  	Tel.:(204) 786-7468	  	
		  	191 Lombard Avenue	  	Fax:(204) 788-0992	  	
		  	Winnipeg, MB	  		  	
		  	R3B 0X1	  		  	
				
	New Brunswick	  	Saint John	  	Tel.:(506) 634-1720	  	
		  	20 King St	  	Tel.:1-800-561-1720	  	
		  	Saint John, NB	  	Fax:(506) 634-8924	  	
		  	E2L 1G2	  		  	

  

 - 3 - 

							
	Nova Scotia	  	Halifax Shopping Center	  	Tel.:(902) 454-8621	  	
		  	7001 Mumford Rd - Unit 150	  	Fax:(902) 455-9570	  	
		  	Halifax, NS	  		  	
		  	B3L 2H8	  		  	
				
	Ontario	  	Bayshore Shopping Center	  	Tel.:(613) 829-7692	  	
		  	100 Bayshore Dr	  	Fax:(613) 820-1412	  	
		  	Nepean, ON	  		  	
		  	K2B 8C1	  		  	
				
	Ontario	  	Toronto Eaton Center	  	Tel.:(416) 979-9311	  	
		  	220 Yonge St PO Box 210 & 310	  	Fax:(416) 979-0919	  	
		  	Toronto, ON	  		  	
		  	M5B 2H1	  		  	
				
	Ontario	  	Toronto Bloor - Manulife Centre	  	Tel.:(416) 922-2266	  	
		  	55 Bloor St W - Unit 152	  	Tel.:(416) 922-7479	  	
		  	Toronto, ON	  	Fax:(416) 922-8084	  	
		  	M4W 1A5	  		  	
				
	Ontario	  	Fairview Mall - Willowdale	  	Tel.:(416) 491-3220	  	
		  	1800 Sheppard Ave E Suite 2066	  	Fax:(416) 491-1952	  	
		  	North York, ON	  		  	
		  	M2J 5A7	  		  	

  

 - 4 - 

							
				
	Ontario	  	Sherway Gardens	  	Tel.:(416) 622-3000	  	
		  	25 The West Mall PO Box 25 - Unit G19	  	Fax:(416) 622-4974	  	
		  	Etobicoke, ON	  		  	
		  	M9C 1B8	  		  	
				
	Ontario	  	Scarborough Town Center	  	Tel.:(416) 296-5083	  	
		  	300 Borough Dr - Unit 234	  	Fax:(416) 296-0158	  	
		  	Scarborough, ON	  		  	
		  	M1P 4P5	  		  	
				
	Ontario	  	Mississauga Square One	  	Tel.:(905) 275-1344	  	
		  	100 City Centre Dr Unit 2-210	  		  	
		  	Mississauga, ON	  		  	
		  	L5B 2C9	  		  	
				
	Ontario	  	First Canadian Place	  	Tel.:(416) 363-5663	  	
		  	100 King St W - Unit SN29	  	Fax:(416) 363-5666	  	
		  	Toronto, ON	  		  	
		  	M5X 1A6	  		  	
				
	Ontario	  	Oakville Place	  	Tel.:(905) 842-2960	  	
		  	240 Leighland Ave	  	Fax:(905) 842-9054	  	
		  	Oakville, ON	  		  	
		  	L6H 3H6	  		  	

  

 - 5 - 

							
	Ontario	  	Rideau Center Mall	  	Tel.:613-236-3641	  	
		  	50 Rideau St. - Unit 333	  	Fax:613-236-3640	  	
		  	Ottawa, ON	  		  	
		  	K1N 9J7	  		  	
				
	Ontario	  	Yorkdale Shopping Centre	  	Tel.:416-782-6311	  	
		  	3401 Dufferin Street, Unit 220	  	Fax:416-782-6941	  	
		  	Toronto, ON	  		  	
		  	M6A 3A1	  		  	
				
	Ontario	  	Lime Ridge Mall	  	Tel.:(905) 318-4682	  	
		  	999 Upper Wentworth Street S	  	Fax:(905) 318-5053	  	
		  	Hamilton, ON	  		  	
		  	L9A 4X5	  		  	
				
	Quebec	  	Montreal Flagship Store	  	Tel.:(514) 397-2511	  	
		  	1240 Phillips Square	  	Fax:(514) 397-2583	  	
		  	Montreal, QC	  		  	
		  	H3B 3H4	  		  	
				
	Quebec	  	Fairview Pointe-Claire Mall	  	Tel.:(514) 697-5180	  	
		  	6815 Trans-Canada Highway - Unit B006	  	Fax:(514) 697-5186	  	
		  	Pointe-Claire, QC	  		  	
		  	H9R 1C4	  		  	

  

 - 6 - 

							
	Quebec	  	Rockland Center	  	Tel.:(514) 341-5426	  	
		  	2305 Rockland Rd - Unit 230.0	  	Fax:(514) 341-8666	  	
		  	Mont-Royal, QC	  		  	
		  	H3P 3E9	  		  	
				
	Quebec	  	Le Carrefour Laval	  	Tel.:(450) 688-3431	  	
		  	3035 boul Le Carrefour - Unit R30	  	Fax:(450) 688-9113	  	
		  	Laval, QC	  		  	
		  	H7T 1C8	  		  	
				
	Quebec	  	Promenades St-Bruno	  	Tel.:(450) 461-0011	  	
		  	257 boul des Promenades	  	Fax:(450) 461-3913	  	
		  	St-Bruno, QC	  		  	
		  	J3V 5K3	  		  	
				
	Quebec	  	Place Ste-Foy	  	Tel.:(418) 653-4035	  	
		  	2450 boul Laurier - Unit 40D	  	Fax:(418) 653-5350	  	
		  	Ste-Foy, QC	  		  	
		  	G1V 2L1	  		  	
				
	Saskatchewan	  	Saskatoon	  	Tel.:(306) 653-0722	  	
		  	Unit 165 3rd Ave S	  	Fax:(306) 653-0725	  	
		  	Saskatoon, SK	  		  	
		  	S7K 1L8	  		  	

  

 - 7 - 

							
	 Saskatchewan
	 	Cornwall Center	 	Tel.:(306) 352-5631	  	
		 	2102 11th Ave SW - Unit T39	 	Fax:(306) 359-1401	  	
		 	Regina, SK	 		  	
		 	S4P 3Y6	 		  	
				
	 Florida
	 	Dadeland Mall	 	Tel.:305-667-7517	  	
		 	7457 North Kendall Drive	 	Fax:305-661-6423	  	
		 	Miami, Florida	 		  	
		 	33156	 		  	
				
	 Florida
	 	Miami International Mall	 	Tel.:305-594-7447	  	
		 	1455 North West 107th Avenue	 	Fax:305-470-2443	  	
		 	Miami, Florida	 		  	
		 	33172	 		  	
				
	 Florida
	 	Aventura Mall	 	Tel.:305-937-1444	  	
		 	19501 Biscayne Boulevard, Suite 372	 	Fax:305-933-9623	  	
		 	Aventura, Florida	 		  	
		 	33180	 		  	
				
	 Florida
	 	The Falls	 	Tel.:305-238-1468	  	
		 	8888 Howard Drive	 	Fax:305-232-8450	  	
		 	Miami, Florida	 		  	
		 	33176	 		  	

  

 - 8 - 

							
	Florida	 	Lincoln Road	 	Tel.:305-672-1662	  	
		 	1000 Lincoln Road	 	Fax:305-672-1519	  	
		 	Miami Beach, Florida	 		  	
		 	33139	 		  	
				
	Florida	 	Village of Merrick Park	 	Tel.:305-446-1233	  	
		 	342 San Lorenzo Avenue, Suite 1000	 	Fax:305-446-1513	  	
		 	Coral Gables, Florida	 		  	
		 	33146	 		  	
				
	Florida	 	The Galleria at Fort Lauderdale	 	Tel.:954-563-4181	  	
		 	2352 East Sunrise Boulevard	 	Fax:954-565-9042	  	
		 	Fort Lauderdale, Florida	 		  	
		 	33304	 		  	
				
	Florida	 	Broward Mall	 	Tel.:954-472-6622	  	
		 	8000 West Broward Boulevard, Suite 707	 	Fax:954-474-3706	  	
		 	Plantation, Florida	 		  	
		 	33388	 		  	
				
	Florida	 	Town Center at Boca Raton	 	Tel.:561-368-6022	  	
		 	6000 Glades Road, Suite 1119	 	Fax:561-347-7063	  	
		 	Boca Raton, Florida	 		  	
		 	33431	 		  	

  

 - 9 - 

									
					
	Florida	 	The Mall at Wellington Green	 	Tel.:561-753-3455	  		 	
		 	10300 Forest Hill Boulevard, Suite 184	 	Fax:561-753-9369	  		 	
		 	Wellington , Florida	 		  		 	
		 	33414	 		  		 	
					
	Florida	 	Florida Mall	 	Tel.:407-859-3116	  		 	
		 	8001 South Orange Blossom Trail, TR 484	 	Fax:407-856-3936	  		 	
		 	Orlando, Florida	 		  		 	
		 	32809	 		  		 	
					
	Florida	 	Treasure Coast Square	 	Tel.:772-692-1970	  		 	
		 	3478 North West Federal Highway	 	Fax:772-692-3978	  		 	
		 	Jensen Beach, Florida	 		  		 	
		 	34957	 		  		 	
					
	Florida	 	Altamonte Mall	 	Tel.:407-830-6881	  		 	
		 	451 Altamonte Avenue, Suite 2157	 	Fax:407-260-2627	  		 	
		 	Altamonte Springs, Florida	 		  		 	
		 	32701	 		  		 	
					
	Florida	 	Westfield Brandon	 	Tel.:813-684-4656	  		 	
		 	436 Brandon Town Center	 	Fax:813-684-4815	  		 	
		 	Brandon , Florida	 		  		 	
		 	33511	 		  		 	

  

 - 10 - 

							
				
	Florida	 	Seminole Towne Center	 	Tel.:407-324-8300	 	
		 	141 Towne Center Circle, F-1	 	Fax:407-324-0242	 	
		 	Sanford, Florida	 		 	
		 	32771	 		 	
				
	Florida	 	Westfield Southgate	 	Tel.:941-952-1945	 	
		 	119 Southgate Plaza at 3501 South Tamiami Trail	 	Fax:941-952-0945	 	
		 	Sarasota, Florida	 		 	
		 	34239	 		 	
				
	Florida	 	International Plaza	 	Tel.:(813) 354-8080	 	
		 	2223 North West Shore Boulevard, Suite 165	 	Fax:(813) 354-8005	 	
		 	Tampa, Florida	 		 	
		 	33607	 		 	
				
	Florida	 	Bell Tower Shops	 	Tel.:239-590-6166	 	
		 	13499 South Cleveland Avenue, Suite 165	 	Fax:239-590-6514	 	
		 	Fort Myers, Florida	 		 	
		 	33907	 		 	
				
	Florida	 	The Mall at Millenia	 	Tel.:407-363-5740	 	
		 	4200 Conroy Road, Suite 167	 	Fax:407-363-5747	 	
		 	Orlando, Florida	 		 	
		 	32839	 		 	

  

 - 11 - 

							
	Florida	  	Westfield Citrus Park	  	Tel.:813-792-2774	  	
		  	7963 Citrus Park Town Center	  	Fax:813-792-2775	  	
		  	Tampa, Florida	  		  	
		  	33625	  		  	
				
	Florida	  	PGA Commons	  	Tel.:561-775-3999	  	
		  	4510 PGA Boulevard	  	Fax:5616276930	  	
		  	Palm Beach Gardens, Florida	  		  	
		  	33418	  		  	
				
	Florida	  	Coconut Point	  	Tel.:239-948-5435	  	
		  	23140 Fashion Drive, Suite 107	  	Fax:239-948-5306	  	
		  	Estero, Florida	  		  	
		  	33928	  		  	
				
	Florida	  	Weston Commons	  	Tel.:954-349-5442	  	
		  	4471 Weston Road	  		  	
		  	Weston, Florida	  		  	
		  	33331	  		  	
				
	Florida	  	St. Johns Town Center	  	Tel.:904-564-1972	  	
		  	4834 River City Drive, Suite 119	  	Fax:904-564-1647	  	
		  	Jacksonville, Florida	  		  	
		  	32246	  		  	

  

 - 12 - 

							
				
	Georgia	  	Buckhead - Two Buckhead Plaza	  	Tel.:404-261-4911	  	
		  	3050 Peachtree Road NW, Suite One	  	Fax:404-264-0652	  	
		  	Atlanta, Georgia	  		  	
		  	30305	  		  	
				
	Georgia	  	Lenox Square	  	Tel.:404-233-8201	  	
		  	3393 Peachtree Road, Northeast	  	Fax:404-231-9376	  	
		  	Atlanta , Georgia	  		  	
		  	30326	  		  	
				
	Georgia	  	North Point Mall	  	Tel.:770-667-1887	  	
		  	1152 North Point Circle	  	Fax:770-667-1890	  	
		  	Alpharetta, Georgia	  		  	
		  	30022	  		  	
				
	Georgia	  	Mall of Georgia	  	Tel.:770-271-0966	  	
		  	3333 Buford Drive, Suite 1037	  	Fax:770-271-2832	  	
		  	Buford, Georgia	  		  	
		  	30519	  		  	

  

 - 13 - 

 ANNEX B 

DAMIANI CODE OF CONDUCT 

 

 

  
  

ETHICAL CODE 

 

 

					
	

	    	INDEX	  	
	    	  

Premise
	  	  
 3

	    	 Ethical principles
	  	4
	    	 Respect for laws and regulations
	  	4
	    	 Integrity
	  	4
	    	 Dignity and equality
	  	4
	    	 Business Ethics
	  	4
	    	 Professionalism and cooperative spirit
	  	4
	    	 Workplace safety and worker’s health
	  	5
	    	 Tracing of actions carried out
	  	5
	    	 Confidentiality
	  	5
	    	 Transparency and completeness of information
	  	6
	    	 Conflicts of interest
	  	6
	    	 Relations with the regulatory bodies
	  	6
	    	 Safeguarding the environment
	  	6
	    	 Rules of behavior
	  	7
	    	 Relations with customers, suppliers, consultants, collaborators, agents and business partners
	  	7
	    	 Relations with institutions and public functionaries
	  	7
	    	 Human Resources
	  	8
	    	 Privileged information
	  	9
	    	 Company communications and accounting postings
	  	9
	    	 Usage of company equipment, mechanisms and structures
	  	9
	    	 Actuating rules
	  	10
	    	 Sanctions system
	  	10
	    	 Communication of the Code
	  	10
	    	 Entry into force and coordination with company procedures
	  	11
	    	     

 
	  	
	    	  

 

	  	

			
	 PREMISE
  

Damiani S.p.A. is the parent company of the Damiani Group, the Italian market leader in the production and sale of high range designer jewelry and is
active in the jewelry sector with prestigious brands such as Damiani, Salvini, Alfieri & St. John, Bliss and the Calderoni brand.
  

As master artisans since 1924, the Damiani Group can boast of a long tradition in the art of the goldsmith that it still carries out today with the
same innovative spirit that it began with and which has carried it to international recognition as a main player in the area of luxury goods.
  

The Damiani Group has adopted this Ethical Code (hereinafter the “Code”) in order to clearly, and transparently define those values to which it
aspires in carrying out its business activities.
  
 Therefore, the Code
contains those Ethical principles and the rules of behavior that the company’s top management, its employees, consultants, collaborators, agents, suppliers, business partners and all those persons who operate in the name, or on behalf of the
Group (hereinafter the “Addressees”) are obliged to respect.
  

The principles and the measures contained in this Code lay down the general obligations of diligence, integrity and loyalty that qualify the fulfillment
of the work services that are supplied and the conduct to be maintained in relations with the general public and the working environment.
  

The observance of this Code is an integral part of the contractual obligations of the company’s Employees, also pursuant to and for the purposes of
article 2104 of the Italian Civil Code and any violation of it by the Addressees shall be, according to the cases involved, a disciplinary offence, punishable by the applicable legislation and/or considered to be a non-fulfillment of their labor
contract. The value and importance of the Ethical Code are strengthened with a specific responsibility of the relative Bodies to deal with the committing of offences and the administrative illegalities that are referred to in the Legislative Decree
of 8 June number 231.
  
 The Damiani Group, in order to protect its
image and safeguard its resources will not have any relations with any persons who do not intend to act while rigorously respecting the relative legislation that is currently in force and/or who refuse to conduct themselves according to the ethical
principles and the rules of behavior laid down in this Code.
  

“Article 2104 Diligence. of suppliers of labor. – The supplier of labor must use the diligence that is required by the nature of the service
supplied, by the interests of the enterprise and by the higher one of national production. Furthermore they must observe the measures laid down for carrying out and governing the work that are given by the entrepreneur and by the collaborators to
whom they report hierarchically ”.
  
	    	

	
 

  

			
	

	    	 ETHICAL PRINCIPLES
  

RESPECT FOR LAWS AND REGULATIONS
  

All the activities that are put in place in the name and on behalf of the Damiani Group must be carried out in total respect of the laws and regulations
that are in force in all the countries where the Group operates.
  
 Each
Addressee commits themselves to diligently obtaining the necessary knowledge of the laws and regulations currently in force that are applicable to the carrying out of their own functions.

 
 INTEGRITY

 
 In carrying out their own functions each Addressee must maintain a conduct that is
inspired by moral integrity and transparency as well as by the values of honesty and good faith.
  

DIGNITY AND EQUALITY
  

Each Addressee recognizes and respects the personal dignity, the privacy and the personality rights of any person, whomsoever, regarding both internal and
external relations. Each Addressee shall work with men and women of differing nationalities, cultures, religions, sexual orientations and races. No discrimination, sexual molestation or offending, either personal or any other type, will be
tolerated.
  
 Regarding the managing of hierarchical relationships the
Damiani Group demands that authority shall be exercised equably, prohibiting any conduct that in any way offends the personal dignity and professionalism of the reporting person.

 
 BUSINESS ETHICS

 
 The Damiani Group carries out its business activities with efficiency and market
openness, maintaining a position of fair competition with the other operators in its sector and abstaining from any conduct, whatsoever, which is underhanded, abusive and damaging to its customers.

 
 PROFESSIONALISM AND COOPERATIVE SPIRIT

 
 Each Addressee shall carry out their activity with the professionalism that is asked
for by the nature of the tasks and functions carried out, applying maximum commitment in achieving the goals assigned to them and taking on all the responsibilities that are required due to the nature of their own tasks and duties. Each Addressee
shall diligently carry out any necessary activities regarding in depth study and updating.
  

Reciprocal cooperation between the persons that are involved in any way, whatsoever, in the same project or productive process is an inviolable principle
for the Damiani Group. Therefore, each Addressee is obliged, through their own conduct, to contribute to the safeguarding of these values both within the workplace and outside of it.

 

	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	

			
	 WORKPLACE SAFETY AND WORKER’S HEALTH
  

The Damiani Group believes that safeguarding the worker’s health and safety is of primary importance, setting itself the goal not only of respecting
the specific demands of the relative legislation regarding these matters but also carrying out a constant and continuous improvement in working conditions.
  

Therefore, the Damiani Group continually updates itself in the observance of the legislation that is currently in force regarding workplace safety and
hygiene.
  
 TRACING OF ACTIONS CARRIED OUT

 
 Each Addressee must conserve adequate documentation for each operation carried out,
for the purpose of enabling, at any time, the checking of the motives for the operation and its features in the authorization, execution, recording and checking stages of the operation itself.

 
 CONFIDENTIALITY

 
 All the information obtained by the Addressees relative to their own employment and
collaboration relationship is the property of the Damiani Group. For information owned by the Group there is meant the following:
  

-   personal data of Addressees and third parties. There is considered to be a “personal
datum” any and all information relative to a physical or legal person, entity or association, identified or identifiable, even indirectly, by means of a reference or any other information, including a PIN ;

 
 -   confidential information.
There is considered to be “confidential information” any piece of information of a confidential nature appertaining to the Group, which if it is divulged in an unauthorized manner, or involuntary, could cause damage to Damiani S.p.A or to
the Group. There is, for example, to be considered confidential the knowledge of a project, a proposal, a venture, a negotiation, an understanding, a commitment, an agreement, a fact or an action, even if a future or uncertain one, appertaining to
the business activities of Damiani S.p.A. and of the companies controlled by it, which is not already in the public domain.
  

The Damiani Group guarantees, in line with the relative legislative measures, the Confidentiality of the information in its possession and it requires all
the Addressees to use such information solely for purposes linked to the carrying out of their own professional activities.
  

The Damiani Group also respects the principles of equable access and transparency in the divulging of confidential information and without altering the
regular trend of any moveable asset markets.
	    	

	  

 

			
	

	    	 TRANSPARENCY AND COMPLETENESS OF INFORMATION
  

The information that is broadcast by the Damiani Group are complete, transparent, understandable and accurate, so as to enable third parties to make
informed decisions regarding the relations to be put in place with the Group itself.
  

CONFLICTS OF INTEREST
  

In carrying out all its activities the Damiani Group works to avoid entering into conflict of interest situations, either real or only
potential.
  
 The Addressees in carrying out their collaboration shall
pursue the goals and general interests of the Damiani Group.
  
 Each
Addressee is obligated to inform, without delay and taking into account the circumstances, their own superiors or reference persons of those situations or activities where they could have interests that are in conflict with those of the Damiani
Group, or where the holders of such interests are close relatives and in any other case where there are relevant reasons to do so.
  

The Addressees shall respect the decisions that are taken regarding such matters by the companies of the Damiani Group.

 
 RELATIONS WITH THE REGULATORY BODIES

 
 The relationships of the Damiani Group with the competent Controlling and Regulatory
Authorities of the countries in which it operates are inspired by the principles of transparency and faithful cooperation.
  

The Damiani Group fulfills all the legal obligations regarding communications to the competent Authorities, with specific reference to the Controlling and
Regulatory Authorities guaranteeing the completeness and integrity of the information, the objectiveness of the valuations and ensuring that they are speedily dealt with and sent.

 
 SAFEGUARDING THE ENVIRONMENT

 
 The Damiani Group is committed to safeguarding the environment. For this purpose it
makes its choices so as to ensure compatibility between financial initiative and environmental needs, not only respecting the legislation that is currently in force but also taking into account the developments in scientific research and the best
practices regarding such matters.
  

	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	

			
	 RULES OF BEHAVIOR
  

RELATIONS WITH CUSTOMERS, SUPPLIERS, CONSULTANTS, COLLABORATORS, AGENTS AND BUSINESS PARTNERS

 
 The Damiani Group puts in place its relations with customers, suppliers, consultants,
collaborators, agents and business partners solely on the basis of criteria of trust, quality, competitiveness, professionalism and respect of the rules.
  

In developing relations with these parties the following are asked for:
  

-   only to set up relationships with parties that have a respectable reputation, who are only
involved in legitimate activities and whose company ethical culture is comparable to that of the Damiani Group. For this purpose there must firstly be checked the available information regarding these parties;

 
 -   to ensure the
transparency of the agreements and the signing of secret pacts or agreements that are against the law.
  

Specifically, regarding the choosing of the suppliers, the consultants, the collaborators and the agents for the acquisition of goods or services, the
Damiani Group ensures that this is only inspired by objective parameters of quality, convenience, price, ability and efficiency that are such as to enable the putting in place of a trust relationship these parties.

 
 In the procedure of choosing the suppliers the Damiani Group will evaluate the
choices, setting up relationships that are aimed at fully respecting the other party as well as safeguarding its own image. The Damiani Group demands from its suppliers that the materials or the products supplied are not the subject of any prior
illegal activities, of the exploitation of child labor or any activities aimed at the financing of terrorism.
  

RELATIONS WITH INSTITUTIONS AND PUBLIC FUNCTIONARIES
  

The relations of the Damiani Group with public national, EEC and international institutions, as well as towards public officials or persons in public
service, or bodies, representatives, mandate holders, exponents, members, employees, consultants, or persons entrusted with public functions or services, of public institutions, of public administrations, of public entities, also financial ones, of
public entities or companies, of a local, national or international character (“Public functionaries”) must be maintained by each Addressee with maximum transparency and integrity, avoiding any behavior that can give rise to the impression
of wanting to improperly influence the decisions of the other party, or the asking for special treatment.
  

The relations with the above parties are limited to the proposed and regularly authorized functions, while respecting the most rigorous observance of the
relative legal and regulatory measures and cannot, in any way whatsoever, compromise the integrity and the reputation of the Damiani Group.
  
	    	

	

			
	

	    	 For this purpose the Addressees pledge themselves not to offer or promise, either directly or through intermediaries, amounts of
money or any other means of payment to public officials or persons entrusted with public service in order to influence their actions while carrying out their duties.
  

These prohibitions cannot be evaded by making different forms of contributions which, under the appearance of the entrusting of professional assignments,
consultancies, advertising or anything else that has the purposes that are prohibited above.
  

The Damiani Group, if it believes it to be opportune, can support those programs of public bodies that are aimed at creating utilities and benefits for
the general public, as well as the activities of foundations and associations, always respecting the relative legislation that is in force and the principles of the Code.

 
 HUMAN RESOURCES

 
 Each Addressee must give the maximum attention to the carrying out of their
activities, strictly observing all the safety and preventative measures that are laid down, in order to avoid any possible risk to themselves and their collaborators and colleagues.

 
 The responsibility of each Addressee towards their collaborators and colleagues
supposes that maximum care be taken for the prevention of risks of injury. Every Addressee must follow the instructions and directives given by those parties that each one of the Companies of the Damiani Group has delegated with the fulfillment of
the safety obligations.
  
 Each and every form of molestation whether it is
psychological, physical or sexual of executives, of other employees, collaborators, suppliers or visitors is strictly forbidden. For molestation there is meant any form of intimidation or threat, even non verbal, or arising from a number of
attitudes that are aimed at intimidation because they are repeated over time or because they come from a number of different parties, which is an obstacle to tranquil carrying out of a person’s functions, or the abuse of their position of
authority by a hierarchical superior. Specifically, there is prohibited each and every form of mobbing according to the concept that, from time to time, shall be drawn from the prevailing orientation of Italian law regarding such matters.

 
 There is also prohibited even the mere promise of wage increases, other advantages
or career growth as a recompense for activities that are against the law, the Code and the internal rules and regulations, also limited to competency.
  

There is prohibited any act of retribution, whatsoever, against those persons who refuse to carry out, complain about or communicate any such deplorable
facts.
  
 The selection and hiring of personnel must take place rigorously
respecting the relative procedures and following transparency criteria in the evaluation of competency and professional requirements and of individual ability potential.

 

	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	
	    	

			
	 PRIVILEGED INFORMATION
  

If ever, due to their relations with the Damiani Group, the Addressees are holders of privileged information, they pledge themselves to maintain the
maximum confidentiality until it is divulged to the market, communicating it to any third parties, both inside and outside of the Group only for work needs, ascertaining that these persons are bound by legal confidentiality, regulatory, statutory or
contractual obligations.
  
 Due to the sensitivity of this task, the
activity of communicating and divulging information regarding the operations of the Damiani Group is solely reserved for the competent functions in the context of their respective companies.

 
 Furthermore, the Addressees must abstain from spreading false or misleading
information that could delude the external world or, specifically, bring about improper changes in the values of the shares of subsidiary companies.
  

COMPANY COMMUNICATIONS AND ACCOUNTING POSTINGS
  

The Damiani Group believes that accounting transparency, as well as the keeping of the accounting books and postings following the principles of
truthfulness, completeness, clarity, precision, accuracy and conformity with the relative legislation that is currently in force is the fundamental requirement for an effective control.

 
 For each transaction there must be conserved adequate supporting documentation,
which is such as to enable a facilitated accounting posting, the reconstruction of the transaction and the identification of any responsibilities.
  

Similarly, the Damiani Group reiterates that the Financial Statements must properly give the Income Statement, Balance Sheet or financial situations of
the individual companies of the Group and of the Group itself in a truthful, clear and complete manner.
  

USAGE OF COMPANY EQUIPMENT, MECHANISMS AND STRUCTURES
  

The Addressees are specifically forbidden from using the company’s assets, also regarding the IT resources and the Net, for their personal needs or
those that are not for work reasons, for purposes that are against the law, public order, or proper behavior, as well as for committing, or causing the committing of offences, of racial hatred, of the praising of violence or the violation of human
rights.
	    	

	  

 

			
	

	  	 ACTUATING RULES
  

SANCTIONS SYSTEM
  

The company, through those bodies and functions that it has specifically charged to do so, shall apply with coherency, impartiality and uniformity,
sanctions that are in proportion to the relative violations of this Code and that follow the measures that are currently in force regarding the regulating of employment relationships. The steps taken against employees, directors and collaborators of
the Damiani Group that are the subject of management or vigilance, arising from the violation of the ethical principles the rules of conduct contained in this Code are those laid down in the applicable Italian National Collective Labor Contracts
(CCNL) and what is governed by the contents of the paragraph called “Sistema Disciplinare (Disciplinary System)” of the “Modello di Organizzazione, Gestione e Controllo (Organizational, Management and Control Model) as per the
Legislative Decree of 8 June 2001, number 231” to which reference should be made.
  

Any conduct by consultants, collaborators, agents, suppliers and business partners that are linked to the Damiani Group by a contractual relationship that
is not one of regular employment and, in any case, that is not the subject of management or vigilance, in violation of what is contained in this Code, can also bring about, in the most serious cases, the dissolving of the contract, while there
remains the possibility of a demand for the reimbursement of any damages that may have been caused to the companies of the Damiani Group by this behavior.
  

COMMUNICATION OF THE CODE
  

The Damiani Group informs all the Addressees regarding the measures and the application of the Code, demanding that it be observed.

 
 It specifically takes care, also through the Vigilance Body of each company of the
Group, which has independent powers of initiative and control and has been nominated pursuant to the Legislative Decree number 231/2001:
  

-   of the distribution of the Code to the Addressees;

 
 -   of the interpretation and
clarification of the measures;
  

-   of the checking that is actually observed;

 
 -   of the updating of the
measures following needs that may arise from time to time.
  
 The Code shall
be brought to the knowledge of any third parties who receive assignments from the Damiani Group or who have ongoing relations with it.
  

In order to ensure the effectiveness of this Code, the Damiani Group has put in place information channels through which all those who gain knowledge of
any illicit behavior that takes place within the companies of the Group can refer freely, directly and in and absolutely confidential manner to their respective Vigilance Bodies. It is an obligation of each Addressee to communicate, without delay,
any behavior that does not conform to the principles of the Code. It shall be in the care of the Damiani Group to ensure that there is confidentiality regarding the identity of the communicator, saving the needs linked to the carrying out of the
Vigilance Body, as well as guaranteeing the communicator against any retribution, illicit conditioning, inconvenience and discrimination of any type, whatsoever, within the working environment, because they communicated the violation of the contents
of the Code.
  

	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	

			
	 ENTRY INTO FORCE AND COORDINATION WITH COMPANY PROCEDURES

 
 This Code is adopted with a resolution passed by the Boards of Directors of Damiani
S.p.A. and of its subsidiaries, with immediate effect.
  
 The Code does not
replace the current and future company procedures that continue to be effective, in so far as they are not in conflict with the Code.
	    	

	  

 

  
  

 

 

 

 

 ANNEX C 

PERMITTED LIENS 

“Lien” means any mortgage, charge, pledge, hypothecation, security interest, assignment, encumbrance, lien (statutory or otherwise),
charge, title retention agreement or arrangement, restrictive covenant or other encumbrance of any nature or any other arrangement or condition that in substance secures payment or performance of an obligation. 

“Permitted Liens” means, in respect of any person, any one or more of the following: 

 

	(a)	Liens for taxes, assessments or governmental charges or levies which are not delinquent or the validity of which is being contested at the time by the person in good
faith by proper legal proceedings if, in Damiani’s opinion, acting reasonably, adequate provision has been made for their payment; 

  

	(b)	Inchoate or statutory Liens of contractors, subcontractors, mechanics, workers, suppliers, material men, carriers and others in respect of construction, maintenance,
repair or operation of assets of the person, provided that such Liens are related to obligations not due or delinquent, are not registered against title to any assets of the person and in respect of which adequate holdbacks are being maintained as
required by applicable law or such Liens are being contested in good faith by appropriate proceedings and in respect of which there has been set aside a reserve (segregated to the extent required by the United States generally accepted accounting
principles as in effect from time to time, consistently applied) in an adequate amount and provided further that such Liens do not, in Damiani’s opinion, acting reasonably, materially reduce the value of the asset against which such Liens have
arisen or materially interfere with the use of such assets in the operation of the business of the person; 

  

	(c)	Purchase money security interests in or purchase money mortgages or vendors’ hypothecs on property to secure purchase money debt, incurred in connection with the
acquisition of such property, which security interests, vendors’ hypothecs, mortgages, conditional sales agreements, installment sales agreements or other like title retention agreements with respect to property acquired cover only the property
so acquired, together with the accessories thereto and proceeds thereof; 

  

	(d)	The Liens granted in favor of Rolex Watch U.S.A., Inc. on the property of the B&M Group consisting of Rolex, Tudor and Cellini watches, watchbands, parts and other
accessories now or hereafter sold by Rolex Watch U.S.A., Inc. to the B&M Group, and all other new Rolex, Tudor and Cellini watches, watch bands, parts and other accessories hereinafter held by the B&M Group and all cash proceeds of any of
the foregoing, including insurance proceeds (but specifically excluding accounts receivable), together with all rights and property of every kind at any time in the possession or control of Rolex Watch U.S.A., Inc., or any of its agents, or in
transit to it, belonging to, for the account of, or subject to the order of the B&M Group; 

  

	(e)	Easements, rights-of-way, servitudes, restrictions and similar rights in real property comprised in the assets of the person or interests therein granted or reserved to
other persons, provided that such rights do not, in Damiani’s opinion, acting reasonably, materially reduce the value of the assets against which such rights have been granted or reserved or materially interfere with the use of such assets in
the operation of the business of the person; 

	(f)	Title defects or irregularities which are of a minor nature and which, in Damiani’s opinion, acting reasonably, do not materially reduce the value of the assets of
the person or materially interfere with their use in the operation of the business of the person; 

  

	(g)	Liens securing appeal bonds and other similar Liens arising in connection with court proceedings (including, without limitation, surety bonds, security for costs of
litigation where required by law and letters of credit) or any other instruments serving a similar purpose; 

  

	(h)	Attachments, judgments and other similar Liens arising in connection with court proceedings; provided, however, that the Liens are in existence for less than 10 days
after their creation or the execution or other enforcement of the Liens is effectively stayed or the claims so secured are being actively contested in good faith and by proper legal proceedings; 

 

	(i)	The reservations, limitations, provisos and conditions, if any, expressed in any original grant from the Crown of any real property or any interest therein or in any
comparable grant in jurisdictions other than Canada, provided they do not, in Damiani’s opinion, acting reasonably, materially reduce the value of the real property against which they are registered or materially interfere with the use of such
real property in the operation of the business of the person; 

  

	(j)	Liens given to a public utility or any municipality or governmental or other public authority when required by such utility or other authority in connection with the
operation of the business or the ownership of the assets of the person, provided that such Liens do not, in Damiani’s opinion, acting reasonably, materially reduce the value of any asset of the person or materially interfere with the use of any
such asset in the operation of the business of the person; 

  

	(k)	Servicing agreements, development agreements, site plan agreements, and other agreements with governmental entities pertaining to the use or development of any of the
real property of the person, provided same are complied with and do not in Damiani’s opinion, acting reasonably, materially reduce the value of the subject real property or materially interfere with the use of the real property in the operation
of the business of the person including, without limitation, any obligations to deliver letters of credit and other security as required; 

  

	(l)	Applicable municipal and other governmental restrictions, including municipal by-laws and regulations, affecting the use of land or the nature of any structures which
may be erected thereon, provided such restrictions have been complied with and do not in Damiani’s opinion, acting reasonably, materially reduce the value of any real property of the person or materially interfere with the use of the real
property in the operation of the business of the person; 

  

	(m)	The right reserved to or vested in any governmental entity by any statutory provision or by the terms of any lease, licence, franchise, grant or permit of the person,
to terminate any such lease, licence, franchise, grant or permit, or to require annual or other payments as a condition to the continuance thereof; 

  

	(n)	Liens in favour of Damiani created by the security documents delivered to Damiani by the B&M Group for the purpose of establishing, perfecting, preserving or
protecting any security held by Damiani in respect of the payment obligations under this Agreement, including a general security and a deed of hypothec granted by the B&M Group in favour of Damiani; 

 

	(o)	 Liens disclosed in Schedule 1 attached hereto but only to the extent such Liens conform to their description in Schedule 1 attached hereto and includes
any extension or renewal thereof 

  

 - 2 - 

	 	 
provided the amount so secured does not exceed the original amount secured immediately prior to the extension, renewal or refinancing and the scope of security creating the Lien is not extended;
and 

  

	(p)	Any Lien which secures an obligation of $ 10,000 or less. 

  

 - 3 - 

 SCHEDULE 1 

PERMITTED LIENS 
 A.
Permitted Liens – CANADA 
  

					
	 Secured Party(ies)
	 	 Debtor(s)
	 	 Reference File No. &

Registration Number(s)

	 Alberta
	 		 	
			
	 Bank of America, National Association, as Agent
	 	Birks & Mayors Inc.	 	 05120508329

05120508337
 08112844702

08120402401

			
	 BAL Global Finance Canada Corporation
	 	Birks & Mayors Inc.	 	08040313233
			
	 Key Equipment Finance Canada Ltd./Financement d’équipement Key
	 	Birks & Mayors Inc.	 	 08042200991

08052008820

			
	 GB Merchant Partners, LLC, as Administrative Agent
	 	Birks & Mayors Inc.	 	 08121013908

08121014067

			
	 Brinkhaus the Jewellery Source Ltd.

Brinkhaus Jewels Limited
	 	Birks & Mayors Inc.	 	07112024075
			
	 British Columbia
	 		 	
			
	 Bank of America, National Association, as Agent
	 	Birks & Mayors Inc.	 	725422C
			
	 Bank of America, N.A., as Agent
	 	Birks & Mayors Inc.	 	718828E
			
	 BAL Global Finance Canada Corporation
	 	Birks & Mayors Inc.	 	278449E
			
	 Key Equipment Finance Canada Ltd.

 
 (Further to an assignment by BAL Global
Finance Canada Corporation)
	 	Birks & Mayors Inc.	 	 313511E

367974E

			
	 GB Merchant Partners LLC
	 	Birks & Mayors Inc.	 	736968E

  

 - 4 - 

					
	 Secured Party(ies)
	 	 Debtor(s)
	 	 Reference File No. &

Registration Number(s)

	 Brinkhaus The Jewellery Source Ltd.

Brinkhaus Jewels Limited
	 	Birks & Mayors Inc.	 	032429E
			
	 Manitoba
	 		 	
			
	 Bank of America, National Association,
as Agent
	 	Birks & Mayors Inc.	 	 200521759100

200822933504

			
	 BAL Global Finance Canada Corporation
	 	Birks & Mayors Inc.	 	200805901801
			
	 Key Equipment Finance Canada Ltd./Financement d’équipement Key
	 	Birks & Mayors Inc.	 	 200807168303

200809357006

			
	 GB Merchant Partners, LLC,
as Administrative Agent
	 	Birks & Mayors Inc.	 	200823707001
			
	 New Brunswick
	 		 	
			
	 Bank of America, National Association,
as Agent
	 	Birks & Mayors Inc.	 	 12992707

16960973

			
	 GB Merchant Pertners, LLC,
as Administrative Agent
	 	Birks & Mayors Inc.	 	16994618
			
	 Nova Scotia
	 		 	
			
	 Bank of America, National Association,
as Agent
	 	Birks & Mayors Inc.	 	 10439008

14702583

			
	 GB Merchant Partners, LLC,
as Administrative Agent
	 	Birks & Mayors Inc.	 	14739668
			
	 Ontario
	 		 	
			
	 Xerox Canada Ltd.
	 	Henry Birks & Sons Inc.	 	 610440543

20041108 1702 1462 4263

			
	 Key Equipment Finance Canada Ltd./Financement d’équipement Key Canada Ltée

  
 (Further to assignment by BAL
Global Finance Canada Corporation)
	 	Birks & Mayors Inc.	 	 645254172

20080516 1623 1590 1401
  

Assignment:

20080521 0940 1590 1461
  

As amended by:

20080522 1009 1590 1513
 644389704

 20080421 1620 1590 0198
  

Assignment:

20080509 1050 1590 1011

  

 - 5 - 

					
	 Secured Party(ies)
	 	 Debtor(s)
	 	 Reference File No. &

Registration Number(s)

	 BAL Global Finance Canada Corporation
	 	Birks & Mayors Inc.	 	 639732636

20071009 1245 1590 2162

			
	 Bank of America, National Association,
as Agent
	 	Birks & Mayors Inc.	 	 621025218
 20051205 1148 1590
8297
  
 650215269

20081128 0948 1590 9114

			
	 GB Merchant Partners, LLC,
as Administrative Agent
	 	Birks & Mayors Inc.	 	 650466747
 20081210 1119 1590
9555

			
	 Québec
	 		 	
			
	 IBM Canada Limitée
	 	Henry Birks & Sons Inc.	 	 99-0221524-0001

00-0005823-0008
 00-0125741-0002

00-0125741-0004
 00-0218069-0001

00-0313282-0005

01-0188544-0001

	 	  
 Henry Birks et Fils Inc.

Henry Birks & Sons Inc.
	 	  
 02-0511958-0016

02-0527019-0004
 03-0244785-0004

03-0528267-0012

	 	  
 Henry Birks et Fils Inc./

Henry Birks & Sons Inc.
 Henry Birks et Fils
Inc.
 Henry Birks & Sons Inc.
	 	  
 02-0440489-0001

03-0475066-0011

04-0161805-0013

			
	 IBM Canada Limited
	 	Birks & Mayors Inc.	 	 06-0450471-0006

06-0450471-0007

			
	 Xerox Canada Ltd.
	 	Henry Birks & Sons Inc.	 	05-0208189-0024
			
		 	Birks & Mayors Inc.	 	 06-0150267-0015

06-0163982-0050

08-0644195-0015

			
	 Hasenfeld-Stein Incorporated
	 	Henry Birks & Sons Inc.	 	02-0085682-0001
			
	 Bank of America, N.A.
	 	Birks & Mayors Inc.	 	 05-0721322-0001

08-0708293-0001

  

 - 6 - 

					
	 Secured Party(ies)
	  	 Debtor(s)
	  	 Reference File No. &

Registration Number(s)

	 Investissement Québec
	  	Birks & Mayors Inc.	  	03-0193616-0001
 09-0091188-0001

09-0084125-0001
 TBD for the new CAN$3 million

 term loan

			
	 Rhode Island Industrial Recreational Building Authority
	  	Birks & Mayors Inc.	  	05-0188997-0001
			
	 Corporation de Financement Onset
	  	Henry Birks & Sons Inc.	  	03-0686175-0001
			
	 National Leasing Group Inc.
	  	Henry Birks & Sons Inc.	  	05-0488054-0006
			
	 Hewlett-Packard Financial Services Canada Company/ Compagnie de services financiers Hewlett Packard Canada
	  	Henry Birks & Sons Inc.	  	05-0508672-0001
 05-0508678-0001

			
	 BMW Laval
	  	Birks & Mayors Inc.	  	06-0594241-0008
			
	 BAL Global Finance Canada Corporation
	  	Birks & Mayors Inc.	  	07-0545012-0001
 07-0545012-0002

			
	 Key Equipment Finance Canada Ltd./Financement d’Équipement Key Canada
Ltee
  
 (Further to an assignment by
BAL Global Finance Canada Corporation)
	  	Birks & Mayors Inc.	  	08-0223139-0001
 08-0223139-0002

 
 Assignment of rights:

08-0273918-0001
 08-0291793-0001

08-0291793-0002
  

Assignment of rights:

08-0291793-0003

			
	 Safe Trust
  

(Further to an assignment by Wells Fargo Equipment Finance Company/Société de Financement
d’Équipement Wells Fargo)
  

The Canada Trust Company (Trustee)
	  	 Henry Birks & Sons Inc./Henry Birks et Fils Inc.
  

Henry Birks & Sons Inc.
  

Henry Birks et Fils
  

Birks & Mayors Inc.
	  	05-611352-0001  

As amended by:
 05-0617197-0001

 
 Assignment of rights:

06-0406012-0001
  

As amended by:

06-0476388-0001

			
	 GB Merchant Partners, LLC
	  	Birks & Mayors Inc.	  	08-0708359-0001

  

 - 7 - 

					
	 Secured Party(ies)
	 	 Debtor(s)
	 	 Reference File No. &

Registration Number(s)

	 Saskatchewan

			
	 Bank of America, National Association,
as Agent
	 	Birks & Mayors Inc.	 	 122820231

300403937

			
	 Key Equipment Finance Canada Ltd./ Financement d’Équipement Key Canada

 
 (Further to an assignment by from BAL Global
Finance Canada Corporation)
	 	Birks & Mayors Inc.	 	 300295786 (BAL Global)

300304335 (Key Equipment)

			
	 GB Merchant Partners, LLC,
as Administrative Agent
	 	Birks & Mayors Inc.	 	300405414

  

 -8 - 

 B. Permitted Liens – U.S.A. 

 

					
	 Secured Party(ies)
	 	 Debtor(s)
	 	 Reference File No. and/or

Registration No.

	 Delaware

			
	 Suntrust Leasing Corporation
	 	Mayor’s Jewelers, Inc.	 	53894202
			
	 Trimarc Financial Inc.
	 	Mayor’s Jewelers, Inc.	 	60353995
			
	 Bank of America Leasing & Capital, LLC
	 	Mayor’s Jewelers, Inc.	 	74857834
			
	 Key Equipment Finance Inc.
	 	Mayor’s Jewelers, Inc.	 	 81590015
  

81955721
  

83066071

			
	 Bank of America, N.A.,
as administrative agent
	 	Mayor’s Jewelers, Inc.	 	 60222539 as amended by

83101274 and 90072998

			
	 GB Merchant Partners, LLC,
as administrative agent
	 	Mayor’s Jewelers, Inc.	 	84198709
			
	 Small Business Loan Fund Corporation
	 	Henry Birks & Sons U.S., Inc.	 	52756907
			
	 Sovereign Bank
	 	Henry Birks & Sons U.S., Inc.	 	53663417
			
	 Bank of America, N.A.,
as administrative agent
	 	Henry Birks & Sons U.S., Inc.	 	 60222612 as amended by

90073053

			
	 GB Merchant Partners, LLC,
as administrative agent
	 	Henry Birks & Sons U.S., Inc.	 	84198774
			
	 Bank of America, N.A.,
as administrative agent
	 	Mayor’s Jewelers Intellectual Property Holding Co.	 	 60222679 as amended by

90073087

			
	 GB Merchant Partners, LLC,
as administrative agent
	 	Mayor’s Jewelers Intellectual Property Holding Co.	 	84198808
			
	 Bank of America, N.A.,
as administrative agent
	 	JBM Retail Company Inc.	 	 60222729 as amended by

90073046

			
	 GB Merchant Partners, LLC,
as administrative agent
	 	JBM Retail Company Inc.	 	84198865

  

 - 9 - 

					
	 Secured Party(ies)
	 	 Debtor(s)
	 	 Reference File No. and/or

Registration No.

	 Bank of America, N.A.,
as administrative agent
	 	JBM Venture Co. Inc.	 	 60222687 as amended by

90073020

			
	 GB Merchant Partners, LLC,
as administrative agent
	 	JBM Venture Co. Inc.	 	84198907
			
	 District of Columbia
	 		 	
			
	 Bank of America, N.A.,
as administrative agent
	 	Birks & Mayors Inc.	 	 2006009888 as amended by

2009001525

			
	 Bank of America, N.A.,
as administrative agent
	 	Birks & Mayors Inc.	 	2008124913
			
	 GB Merchant Partners, LLC,
as administrative agent
	 	Birks & Mayors Inc.	 	2008126418
			
	 Florida
	 		 	
			
	 US Bancorp
	 	Mayor’s Jewelers of Florida Inc.	 	 200501327035
  

200501417204
  

200707152362
  

200808354416
  

20080919949X
  

200909867540

			
	 Bank of America, N.A.,
as administrative agent
	 	Mayor’s Jewelers of Florida Inc.	 	 200601705953 as amended by

200909821222

			
	 GB Merchant Partners, LLC,
as administrative agent
	 	Mayor’s Jewelers of Florida Inc.	 	200809716915
			
	 Puerto Rico
	 		 	
			
	 Bank of America, N.A.,
as administrative agent
	 	Jan Bell Marketing – Puerto Rico, Inc.	 	2006012454
			
	 Rhode Island
	 		 	
			
	 Sovereign Bank of Rhode Island
	 	Henry Birks & Sons U.S., Inc.	 	200502033050

  

 - 10 - 

					
	 Secured Party(ies)
	 	 Debtor(s)
	 	 Reference File No. and/or

Registration No.

	 Rhode Island Industrial – Recreational Building Authority
	 	Henry Birks & Sons U.S., Inc.	 	200502146110
			
	 Scojen Limited Partnership
	 	Henry Birks & Sons U.S., Inc.	 	200502146200
			
	 Rhode Island Industrial – Recreational Building Authority
	 	Henry Birks & Sons U.S., Inc.	 	200502146570
			
	 Scojen Limited Partnership
	 	Henry Birks & Sons U.S., Inc.	 	200502146660
			
	 Scojen Limited Partnership
	 	Henry Birks & Sons U.S., Inc.	 	200502146840

  

 - 11 -ex10_1.htm

DEMAND PROMISSORY NOTE

$7,260.00

November 06, 2009

FOR VALUE RECEIVED, the undersigned Dragon Beverage, Inc. ("Payor"), promises to pay to the order of _Panos Industries, LLC. ("Holder"), on demand, at such address as may be designated in writing by Holder of this Note, the principal amount of Seven Thousand Two Hundred Sixty Dollars ($7,260.00) together with interest on the unpaid principal amount from November 06,2009 at the rate often percent (10%) per annum; disbursed monthly.

All payments of principal, interest or other amounts payable on or in respect of this Note shall be made in lawful currency of the United States of America in immediately available funds, to the Holder, unless otherwise directed in writing by Holder.

Any waiver of any payment due hereunder or the acceptance by the Holder of partial payments hereunder shall not, at any other time, be taken to be a waiver of the terms of this Note or any other agreement between the Payor and the Holder.

Presentment for payment, notice of dishonor, protest and notice of protest are hereby waived.

This Note shall be governed by and interpreted in accordance with the laws of the State of

Nevada.

IN WITNESS WHEREOF, the undersigned has executed this Note as of the date first written

above.

	
Dragon Beverage, Inc.

 

 

By: /s/ Michael Vincent

Its: CEO

	
Panos Industries, LLC.

 

 

By: /s/ Edward Panos

Its: GM

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