Document:

125 South Wacker Drive, Suite 2600

Chicago, IL 60606 

312/782-6800 

July 20, 2007

Via Hand-Delivery 

Mr. Robert Nachwalter 

Whitehall Jewelers, Inc. 

125 S. Wacker Drive, Suite 2600

Chicago, IL 60606 

Bonus Award Agreement

Dear Robert:

     Whitehall Jewelers, Inc. (the “Company”)
hereby grants to you the following bonus award, which shall be subject to the
terms and conditions of this letter agreement (the “Agreement“), effective
as of  July 19, 2007 (the “Effective Date”).  In consideration of the
premises and mutual covenants herein and for other good and valuable consideration,
the parties agree as follows: 

1. Bonus Amount.
Upon consummation of the reverse merger with a subsidiary of BTHC VII, Inc.,
subject to the terms and conditions of this Agreement, you shall be eligible
to receive bonuses from the Company (each, a “Bonus”) equal to an aggregate
amount of $25,000 (the “Total Bonus Amount”). 

2. Payment of Bonus. Provided you are employed by the Company on each date such payments are made, you shall be eligible to receive Bonuses
as follows: 

     (a) December 31, 2008 Payment:
On the next regular payroll date following December 31, 2008, you shall receive
a lump-sum payment equal to 88% of the Total Bonus Amount, less applicable withholdings
for federal, state and local taxes (the “December 31, 2008 Payment”). 

     (b) Monthly
Bonus Payments:
On the next regular payroll date following the final day of each month after
December 31, 2008, you shall receive an amount equal to 1/36th of the Total
Bonus Amount, less applicable withholdings for federal, state and local taxes
(each, a “Monthly Bonus Payment”), until such time as you have received
Bonuses in the aggregate under this Agreement of a gross amount equal to the
Total Bonus Amount. 

     (c) Change in Control: Notwithstanding the foregoing, if a Change in Control (as defined below) occurs prior
to the payment of the Total Bonus Amount hereunder, subject to your continued employment with the Company or its subsidiaries through the date of such

Change in Control, you shall be entitled to receive an amount equal to (x) the Total Bonus Amount less (y) all bonus payments received hereunder, less applicable
withholdings for federal, state and local taxes, payable within 30 days following the date of such Change in Control. 

     “Change in Control” shall mean (i) the sale of all or substantially all of the Company’s assets, (ii) the sale of all or substantially all of the shares of issued and outstanding capital stock of the Company, or (iii) the
merger, consolidation or reorganization of the Company into or with another corporation or other legal person; provided, however, no sale of all or substantially all of the issued and outstanding shares, merger, consolidation, reorganization, sale
or transfer (or any other transaction) shall constitute a “Change in Control” if, immediately following such sale of all or substantially all of the issued and outstanding shares,
merger, consolidation, reorganization, sale or transfer (or any other transaction), Prentice Capital Management, LP (“Prentice”), Holtzman Opportunity Fund, L.P.
(“Holtzman”) and/or their respective affiliates shall continue to beneficially own (as determined in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as
amended) a majority of the outstanding voting securities of the Company or the surviving corporation, as applicable (or the parent corporation in the event of a merger of the Company with and into a subsidiary of another corporation); provided,
further, the merger of a wholly-owned subsidiary of Globalwise Investments, Inc. with and into the Company shall not constitute a “Change in Control”. For the purposes of this Paragraph 2(c) “substantially all of the Company’ assets”
is defined as 50% or more of the total dollar value of all of the Company’s assets and “substantially all of the shares” is defined as 50% or more of the total shares of the capital stock of the Company issued and outstanding. If an
event occurs while you are employed by the Company which qualifies as a Change in Control under this Section 2(c), but does not qualify as a Change in Control under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), the Total Bonus Amount will be considered vested, but payment will be made according to the schedule set forth in
Paragraphs 2(a) and 2(b) above, except in the event of your subsequent (i) termination without Cause (as such term is defined in your employment agreement with the Company), (ii) voluntary resignation, (iii) death, or (iv) Disability (as such term
is defined in your employment agreement), in which case the Total Bonus Payment less any amounts paid under Paragraphs 2(a) and 2(b) shall be paid upon your termination without Cause, voluntary resignation, death or Disability, unless you are a
“specified employee” as defined in Section 409A of the Code, in which case such payment shall be made in a lump-sum, six (6) months following the date of your termination without Cause, voluntary resignation, death or Disability.

3. Termination of Employment, Voluntary Resignation, Death or Permanent Disability. Notwithstanding anything contained in Section 2 to the
contrary, if your employment with the Company is terminated for Cause, your right to receive any payments hereunder shall terminate, and this Agreement shall terminate without payment of consideration, and shall be null and void and of no force or
effect. Notwithstanding anything contained in Section 2 to the contrary, in the event: (i) your employment is terminated by the Company without Cause; (ii) of your voluntarily resignation from the Company; (iii) of your death or (iv) of your
Disability, you (or your heirs, executors and administrators) shall receive the payments set forth in subsections (a) through (f) below: 

     (a) If such termination of employment without Cause occurs prior to December 31, 2008, an amount equal to the December 31, 2008 Payment
multiplied by a fraction, (1) the

	
                           
 	-2- 	
                           
 

numerator of which is (x) the number of full months that have elapsed from the Effective Date through the date your employment terminates, plus (y) six (6), and (2) the
denominator of which is the number of months from the Effective Date through December 31, 2008, payable in accordance with Paragraph 2(a), above. Notwithstanding the foregoing, if you are a “specified employee” of the Company, as such term is
defined in Section 409A of the Code, such payment shall be made no earlier than six (6) months following the date your employment terminates. 

     (b) If such termination of employment without Cause occurs after December 31, 2008, an amount equal to the lesser of (x) six (6) multiplied by
the Monthly Bonus Payment and (y) the remainder of the unpaid Total Bonus Amount, payable in six (6) equal monthly installments. Notwithstanding the foregoing, to the extent you are a “specified employee” as defined in Section 409A of the Code, such
payment will be made in a lump-sum, six (6) months following the date your employment terminates. 

     (c) Upon your voluntary resignation, death or Disability prior to December 31, 2008, an amount equal to the December 31, 2008 Payment
multiplied by a fraction, (1) the numerator of which is the number of full months that have elapsed from the Effective Date through the date of your resignation, death or Disability, and (2) the denominator of which is the number of months from the
Effective Date through December 31, 2008, payable in accordance with Paragraph 2(a), above. Notwithstanding the foregoing, if you are a “specified employee” of the Company, as such term is defined in Section 409A of the Internal Revenue Code of
1986, as amended (the “Code”), such payment shall be made no earlier than six (6) months following the date your employment terminates. 

     (d) Upon your voluntary resignation, death or Disability after December 31, 2008, an amount equal to any previously accrued but unpaid Monthly
Bonus Payment for any full month from January 1, 2009 through the date of your voluntary resignation, death or Disability. 

     The Company shall have no obligation to make the payments set forth in this Paragraph 3, following the termination of your employment in the event you breach any restrictive covenant made in favor of
the Company to which your are subject which survives the termination of your employment with the Company. 

4. Miscellaneous Provisions.

     (a) Amendments and Waivers:  The provisions of this Agreement may not be amended, modified, supplemented or
terminated, and waivers or consents to departures from the provisions hereof may not be given, without the written consent of each of the parties hereto. Notwithstanding anything herein to the contrary, the Company may amend this Agreement at any
time, retroactively or otherwise, without your consent, if necessary or desirable to comply with Section 409A of the Code, and regulations and other guidance of general applicability that are issued thereunder provided, that, there is no economic detriment to you. 

     (b) Successors and Assigns: This Agreement shall inure to the benefit of and be binding upon the parties
hereto and their respective heirs, successors and permitted assigns. You may not assign this Agreement or any rights or obligations under this Agreement without the prior written consent of the Company.  The Company may assign its rights, together
with its

	
                           
 	-3- 	
                           
 

obligations, to another entity which will succeed to all or substantially all of the assets and business of the Company, to the extent rights and obligations of the Company remain outstanding following any such transaction.

     (c) Counterparts. This Agreement may be executed in two or more counterparts, each of which, when so executed
and delivered, shall be deemed to be an original, but all of which counterparts, taken together, shall constitute one and the same instrument. 

     (d) Severability. In the event that any one or more of the provisions, paragraphs, words, clauses, phrases or
sentences contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision, paragraph, word, clause, phrase or
sentence in every other respect and of the other remaining provisions, paragraphs, words, clauses, phrases or sentences hereof shall not be in any way impaired, it being intended that all rights, powers and privileges of the parties hereto shall be
enforceable to the fullest extent permitted by law. 

     (e) Governing Law; Jurisdiction; Jury Trial. This Agreement shall be governed by and construed in accordance
with the laws of the State of Illinois, without giving effect to the conflict of laws principles thereof.  Each of the parties hereto hereby irrevocably and unconditionally agrees that any action, suit or proceeding, at law or equity, arising out of
or relating to this Agreement or any agreements or transactions contemplated hereby shall only be brought in any federal court of the Northern District of New Illinois or any state court located in Cook County, State of Illinois. Each party hereby
irrevocably and unconditionally consents to the service of process of any of the aforementioned courts. THE PARTIES HERETO HEREBY WAIVE, TO THE EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY LITIGATION IN ANY COURT WITH RESPECT TO, IN
CONNECTION WITH, OR ARISING OUT OF THIS AGREEMENT OR THE VALIDITY, INTERPRETATION OR ENFORCEMENT HEREOF. 

     (f) Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and
intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, representations, warranties, covenants or undertakings
relating to such subject matter, other than those set forth or referred to herein. This Agreement supersedes all prior agreements and understandings between the parties hereto with respect to such subject matter. 

     (g) No Employment or Service Contract. Nothing in this Agreement shall confer any right to continue your
relationship with the Company, nor shall it give you the right to be retained in the employ of the Company or interfere with or otherwise restrict in any way the rights of the Company, which rights are hereby expressly reserved, to terminate your
employment at any time for any reason. 

     (h) Set-off. The Company's obligation to pay the amounts provided and to make the arrangements provided
hereunder shall be subject to set-off, counterclaim or recoupment of amounts owed by you to the Company or its subsidiaries and affiliates.

	
                           
 	-4- 	
                           
 

     (i) Construction. The parties acknowledge that each of them has had the benefit of legal counsel of its own
choice and has been afforded an opportunity to review this Agreement with its legal counsel and that this Agreement shall be construed as if jointly drafted by the parties. 

     Please sign the enclosed copy of this Agreement confirming your agreement to the above terms. 

	 	Sincerely,
	 	 
	 	WHITEHALL JEWELERS, INC.
	 	 
	 	/s/ Edward
        A. Dayoob
	 	Name: Edward Dayoob
	 	Title: President & CEO

	Agreed and Accepted	 
	 	 
	/s/ Robert
        Nachwalter 	 
	Name: Robert Nachwalter 	 

  

	
                           
 	-5-Exhibit 10.8

STOCK OPTION AGREEMENT

     THIS STOCK OPTION AGREEMENT
(the “Agreement”) is made effective as of July 20, 2007 (the “Grant
Date”) between Whitehall Jewelers, Inc., a Delaware corporation (the “Company”),
and Edward Dayoob (the
“Participant”). 

R E C I T A L
S

     WHEREAS, the Company has adopted
the 2007 Whitehall Jewelers, Inc. Stock Incentive Plan (the “Plan”),
which Plan is incorporated herein by reference and made a part of this Agreement.
A copy of the  Plan as presently in effect is attached to this Agreement as Annex
A. Capitalized terms not otherwise defined herein
shall have the same meanings as in the Plan; and 

     WHEREAS, the Committee has determined that it would be in the best interests of the Company and its stockholders to grant the stock option award provided for herein to the Participant pursuant to the
Plan and the terms set forth herein.

     NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties hereto agree as follows: 

1. Grant of Option.
Subject to the terms and conditions of the Plan and the additional terms and
conditions set forth in this Agreement,  the Company hereby grants to the Participant
an option (the “Option”) to purchase 4,853 Shares (the “Option
Shares”) at an option exercise price of $850 per Share (the “Option
Price”), which is not less than the Fair Market Value of a Share on the
Grant Date; provided, however, if the Company consummates an equity financing
on or prior to August  31, 2007 in which it raises at least $25,000,000 in
gross proceeds at a per share price in excess of the Option Price (including
in connection with any financing pursuant to a reverse merger transaction), then
the Option Price shall  automatically be increased to the fair market value at
such time based upon the price per share at which capital was raised in such
financing. This Option is not intended to be an ISO. For the avoidance of doubt,
the Option Shares and the Option  Price are after giving effect to the Stock
Split.

2. Vesting.

	
(a)        	
Subject to the Participant continuing to be Engaged (as defined
below) by the Company, the Option Shares shall vest and become nonforfeitable
over a three-year period as follows: 12/36ths of the Option Shares
are immediately vested on the date hereof and 1/36th of the Option
Shares shall vest and become nonforfeitable commencing on August 17, 2007 (the “Initial
Monthly Vesting Date”) and on each monthly anniversary
of the Initial Monthly Vesting Date until such time as all of the Option Shares
shall vest and become nonforfeitable. In the event the above vesting schedule
results in the vesting of any fractional Option Shares, such fractional Option
Shares shall  not be deemed vested hereunder but shall vest and become nonforfeitable
when such fractional Option Shares aggregate whole Option Shares.  
	 
	 	
Notwithstanding anything contained herein to the contrary, (A) if the Executive is Engaged by the Company immediately prior to the consummation of a Change of Control (as defined in the Employment Agreement), all unvested Options
Shares shall immediately vest upon consummation of such Change of Control or (B) if (i)  
	 

	 	Executive is requested, in writing, by the Company to resign from the Board in connection with the Company becoming a public company (provided that Executive has not previously voluntarily terminated his employment with the
Company prior to the Expiration Date in his Employment Agreement or been terminated for Cause[as defined herein]) or (ii) Executive is not re-elected to serve on the Board after the Expiration Date in his Employment Agreement (provided that
Participant has not previously voluntarily terminated his employment with the Company prior to the Expiration Date in his Employment Agreement or been terminated for Cause), then all unvested Option Shares shall, to the extent not then vested and
not previously forfeited, immediately become fully vested upon such resignation from, or failure to re-elect Participant to, the Board.  At such time as the Participant ceases to be Engaged by the Company, all unvested Option Shares shall cease to
be subject to the aforementioned vesting schedule (and the accelerated vesting schedule set forth in Section 2(b) below and, except as set forth in clause (B) of the immediately preceding sentence, the Option Shares shall, to the extent not then
vested, be forfeited by the Participant without consideration. For purposes of this Agreement, the Executive shall be considered “Engaged” by the Company during any time in which he is (i) employed by the Company, (ii) engaged as
consultant to the Company, or (iii) serving as a member of the Board. 
	 	 
	
(b)        	
Subject to the Participant's continuing to be Engaged by the Company, beginning with the Company’s fiscal year 2007 (which ends January 31, 2008), in addition to the vesting schedule reflected in paragraph (a) above, the
Options shall vest and become exercisable according to the following schedule:  
	 
	 	
(i)        	
One-fourth (1/4) of the Options shall vest if EBITDA (as defined below) equals or exceeds $5,000,000 at the end of any fiscal year;  
	 
	 	
(ii)        	
One-half (1/2) of the Options shall vest if EBITDA equals or exceeds $15,000,000 at the end of any fiscal year;  
	 
	 	
(iii)        	
Three-fourths (3/4) of the Options shall vest if EBITDA equals or exceeds $25,000,000 at the end of any fiscal year; and  
	 
	 	
(iv)        	
Any unvested portion of the Options shall vest if EBITDA equals or exceeds $35,000,000 at the end of any fiscal year.  
	 
	 	
For purposes of this Agreement, “EBITDA” shall mean the sum of the Company’s earnings from its operations, after eliminating therefrom all non-cash extraordinary non-recurring items of income (including gains on the sale of
assets and earnings from the sale of discontinued business lines) and after all expenses (excluding all extraordinary non-recurring items of expense) and other proper charges, but before payment or provision for interest, taxes, depreciation and
amortization in accordance with GAAP, consistent with the Company’s past practices and as determined by the Company’s independent accountants.  
	 
	
(c)        	
Intentionally Omitted.  
	 
	
(d)        	
Intentionally Omitted.  
	 

	
                           
 	2 	
                           
 

3. Repurchase. Any Shares held by the Participant from the exercise of the Options shall be repurchasable by the Company, at its option,
within the 120-day period following the termination of, or the voluntary resignation by the Participant of, the Participant’s employment, at (i) 80% of the Fair Market Value on the date of repurchase if such termination is for Cause (as defined
in Section 4 below) or due to the Participant’s voluntary resignation of his employment with the Company, or (ii) 100% of Fair Market Value on the date of repurchase if such termination is for a reason other than for Cause or due to the
Participant’s voluntary resignation of his employment with the Company, in the case of clauses (i) and (ii), according to the following terms: the repurchase price will be paid by the Company over a 2-year period in equal installments on the
first day of each calendar quarter following the repurchase closing; provided, however, payments may be deferred to the extent required to avoid any penalty tax imposed under Section 409A of the Code. Notwithstanding the above, Participant’s
obligation to allow the Company to repurchase Shares shall terminate upon the earlier of (x) two years following the grant date of the Options or (y) such time when 50% or more of the outstanding common stock of the Company entitled to vote
generally in the election of directors of the Company has been registered for resale.

4. Period of Exercise. Subject to the provisions of the Plan and this Agreement, the Participant may
exercise all or any part of the vested Option Shares at any time prior to the earliest to occur of: 

	 	
(a)        	
the fifth anniversary of the Grant Date;  
	 	 	 
	 	
(b)        	
one year following the date of the Participant’s termination of employment due to death or Disability;  
	 	 	 
	 	
(c)        	
ninety days following the date of which Participant ceases to be Engaged by the Company; and  
	 	 	 
	 	
(d)        	
the date of the Participant’s termination of employment by the Company for Cause.  

     Notwithstanding the foregoing, the Participant shall not exercise any part of the vested Option Shares for a period of ninety (90) days following the Grant Date.

     For purposes of this Agreement, “Cause” shall mean “Cause” as defined in any employment agreement then in effect between the Participant and the Company or if not defined therein or, if there shall be no such agreement then in
effect, (i) Participant's engagement in misconduct which is materially injurious to the Company or its Affiliates, (ii) Participant’s continued failure to substantially perform his duties to the Company, (iii) Participant's repeated dishonesty
in the performance of his duties to the Company, (iv) Participant's commission of an act or acts constituting any (x) fraud against, or misappropriation or embezzlement from the Company or any of its Affiliates, (y) crime involving moral turpitude,
or (z) offense that could result in a jail sentence of at least 30 days or (v) Participant's material breach of any confidentiality or non-competition covenant entered into between the Participant and the Company.

5. Manner of Exercise and Payment.  Subject to the terms and conditions of this Agreement and the Plan, this Option may be exercised by
delivery of written notice to the Secretary of the Company, at the Company's principal executive office in the form of Annex B.  The Participant shall not be deemed to be the holder of, or
to have any of the rights of a holder with respect to, any Shares subject to this Option until this Option shall have been exercised pursuant to the terms of this Agreement and the Participant shall have paid the full Option Price for the number of
Shares in respect of which this Option was exercised. The Option Price of the Shares as to which

	
                           
 	3 	
                           
 

an Option shall be exercised shall be paid to the Company at the time of exercise in (i) cash or its equivalent, (ii) in Shares having a Fair Market Value equal to the aggregate Option Price for the Shares being purchased;
provided that such Shares have been held by the Participant for no less than six months (or such other period as established from time to time by the Committee or generally accepted accounting principles), (iii) partly in cash and, partly in such
Shares, (iv) “cashless exercise” via a broker, or (v) such other method approved by the Committee.

6. Securities Laws. Upon the acquisition of any Shares pursuant to the exercise of the Option, the Participant will make or enter into such
written representations, warranties and agreements as the Committee may reasonably request in order to comply with applicable securities laws or with this Agreement. The Company acknowledges that it is the intention of the Company that the Options
are being granted pursuant to and comply with Rule 701 of the Securities Act of 1933, as amended.

7. Legend on Certificate.  The certificates representing Shares acquired upon exercise of all or a portion of the Option Shares delivered to
the Participant shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange
upon which such Shares are listed, and any applicable Federal or state laws, and the Committee may cause a legend or legends to be put on any such certificate to make appropriate reference to such restrictions. 

8. Option Subject to Plan. By entering into this Agreement the Participant agrees and acknowledges that the Participant has received and
read a copy of the Plan. The Option is subject to the Plan. The terms and provisions of the Plan, as it may be amended from time to time, are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained
herein and a term or provision of the Plan, the applicable terms and provisions of the Plan, as applicable will govern and prevail.

9. No Employment or Service Contract. Nothing in this Agreement or in the Plan shall confer upon the Participant any right to continue such
Participant's relationship with the Company or a subsidiary or Affiliate thereof, nor shall it give any Participant the right to be retained in the employ of the Company or a subsidiary or Affiliate or interfere with or otherwise restrict in any way
the rights of the Company or a subsidiary or Affiliate, which rights are hereby expressly reserved, to terminate any Participant's employment or relationship at any time for any reason, except as may be set forth in an employment or other agreement
between the Participant and the Company or a subsidiary or Affiliate of the Company. 

10. Transferability.  The Option may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the
Participant and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company.  After the death of the Participant, the Option may be exercised by the personal
representatives of the Participant as provided in Section 4(b).

11. Withholding. The Company shall have the right to deduct from any distribution of cash to the Participant an amount equal to the federal,
state and local income taxes and other amounts as may be required by law to be withheld (the “Withholding Taxes”) with respect to this Option. If the Participant is entitled to receive Shares upon exercise of this Option, the Participant

	
                           
 	4 	
                           
 

shall pay the Withholding Taxes to the Company in cash or Shares having a Fair Market Value equal to the amount of the Withholding Taxes prior to the issuance of such Shares. 

12. Modification of Award Agreement. This Agreement may be modified, amended, suspended or terminated, and any terms or conditions may be
waived, but only by a written instrument executed by the parties hereto. 

13. Entire Agreement. This Agreement and the Plan constitute the entire agreement of the parties with respect to the subject matter hereof,
and supersede any prior written or oral agreements (including the terms of the proposed Option grant detailed in the employment agreement, if any, between the Participant and the Company). If there is any inconsistency between the terms of this
Agreement and the terms of the Plan, the Plan's terms shall completely supersede and replace the conflicting terms of this Agreement. 

14. Severability.  Should any provision of this Agreement be held by a court of competent jurisdiction to be unenforceable or invalid for
any reason, the remaining provisions of this Agreement shall not be affected by such holding and shall continue in full force in accordance with their terms. 

15. Choice of Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without regard to
conflicts of laws principles thereof. 

16. Signature in Counterparts. This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if
the signatures thereto and hereto were upon the same instrument. 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement.

	Edward Dayoob	 
	
[Name of Participant] 
  	
WHITEHALL JEWELERS, INC. 
  
	 

  	 	 	 
	/s/
      Edward A. Dayoob	 
  	
By: 
  	/s/ Michael
      Don
	
Signature of Participant 
  	
Name: 
Michael Don 
	 

  	 
  	 

  	
Title: 
EVP  
	 

  	 	 	 
	 

  	 	 	 
	
Attachments:  Annex A (The Plan)
  	 

  	 

  
	                     
    Annex B (Form of Exercise Notice)
  	 
  	 

  
	 

  	 	 	 
	 

  	 	 	 
	
Dated: July 23, 2007
  	 
  	
 
  	 

  

	
                           
 	5 	
                           
 

ANNEX A

WHITEHALL JEWELERS, INC.

STOCK INCENTIVE PLAN 

See 2007 Whitehall Jewelers, Inc. Stock Incentive Plan attached as an exhibit to this filing.

ANNEX B

WHITEHALL JEWELERS, INC.

STOCK INCENTIVE PLAN 

Notice of Exercise of Option 

     1. Exercise
of Option. Pursuant to the Whitehall Jewelers,
Inc. Stock Incentive Plan (the “Plan”) and my Agreement
thereunder dated ___________________ (the “Agreement”), I hereby elect
to exercise my option (the “Option”) to the extent of ____________
Shares.

     
2. Delivery of Payment.

     
(a) I hereby deliver to the Company a cashier's check in the amount of US Dollars $____________ in full payment of the purchase price of the Shares determined by multiplying (x) the exercise price per Share as set forth in my Agreement, by (y) the number of Shares as to which I am exercising the
Option and in satisfaction of my obligation to remit to the Company an amount sufficient to satisfy any withholding tax obligations of the Company that arise in connection with this exercise, or through such other payment method agreed to by the
Company and permitted under the terms of the Plan; or 

     (b) I hereby deliver to the Company Shares in accordance with the terms of the Option Agreement having a Fair Market Value equivalent to
US Dollars $__________________ in full amount of the purchase price of the Shares determined by multiplying (x) the exercise price per Share as set forth in my Agreement, by (y) the number of Shares as to which I am exercising the Option
and in satisfaction of my obligation to remit to the Company an amount sufficient to satisfy any withholding tax obligations of the Company that arise in connection with this exercise; or 

     (c) I hereby shall pay through a “cashless exercise” via a broker the amount equivalent to US Dollars
$__________________ in full amount of the purchase price of the Shares determined by multiplying (x) the exercise price per Share as set forth in my Agreement, by (y) the number of Shares as to which I am exercising the Option and in
satisfaction of my obligation to remit to the Company an amount sufficient to satisfy any withholding tax obligations of the Company that arise in connection with this exercise; or 

     (d) I hereby deliver to the Company such other payment method agreed to by the Company and permitted under the terms of the Plan in the
amount equivalent to US Dollars $__________________ in full amount of the purchase price of the Shares determined by multiplying (x) the exercise price per Share as set forth in my Agreement, by (y) the number of Shares as to which I am
exercising the Option and in satisfaction of my obligation to remit to the Company an amount sufficient to satisfy any withholding tax obligations of the Company that arise in connection with this exercise. 

     3. Representations. In connection with my exercise of the Option, I hereby represent to the Company as follows:

     (a) I am acquiring the Shares solely for investment purposes, with no present intention of distributing or reselling any of the Shares or any interest therein.  I acknowledge that the Shares
have not been registered under the Securities Act of 1933, as amended.

     (b) I am aware of the Company's and its subsidiaries' business affairs and financial condition and have acquired sufficient information about the Company and its subsidiaries to reach an
informed and knowledgeable decision to acquire the Shares.

 

     (c) I understand that the Shares are “restricted securities” under applicable U.S. federal and state securities laws and that, pursuant to these laws, I must hold the Shares indefinitely unless
they are registered with the Securities and Exchange Commission and qualified by state authorities, or unless an exemption from such registration and qualification requirements is available. I acknowledge that the Company has no obligation to
register or qualify the Shares for resale. I further acknowledge that if an exemption from registration or qualification is available, it may be conditioned on various requirements including, but not limited to, the time and manner of sale, the
holding period for the Shares, and requirements relating to the Company which are outside of my control, and which the Company is under no obligation to and may not be able to satisfy. 

     (d) I understand that there is no public market for the Shares, that no market may ever develop for them, and that the Shares have not been approved or disapproved by the Securities and
Exchange Commission or any other federal, state or other governmental agency. 

     (e) I understand that the Shares are subject to certain restrictions on transfer set forth in
the Plan. Both the Plan and the Agreement are incorporated herein by reference.

     (f) I have consulted my own tax advisors in connection with my exercise of this Option and I am not relying upon the Company for any tax advice.

	 	Submitted by the Optionholder:
	 	 
	Date:	By: ________________________________
	 	 
	 	Print Name: __________________________
	 	 
	 	Address: ____________________________
	 	 
	 	             _________________________
	 	 
	 	Social Security No. _____________________
	 	 
	 	Received and Accepted by the Company:
	 	 
	 	WHITEHALL JEWELERS, INC. 
	 	 
	 	By: ________________________________
	 	 
	 	Print Name: __________________________
	 	 
	 	Title: _______________________________

Note: If the Option is being exercised on behalf of a deceased Plan Participant, then this Notice must be signed by such Participant's personal representative and must be accompanied
by a certificate issued by an appropriate authority evidencing that the individual signing this Notice has been duly appointed and is currently serving as the Participant's personal representative under applicable local law governing decedents'
estates. 

	
                           
 	2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}]]