Document:

Senior Management Long-term Cash Incentive Plan

 Exhibit 4.21 
 FORM OF EXECUTIVE MANAGEMENT 
 LONG-TERM CASH INCENTIVE PLAN 
 (Date) 
 Dear
                    : 
 We are pleased to announce the introduction of the Birks & Mayors Inc. Executive Management Long-Term Cash Incentive Plan which will be effective April 1st 2007. The purpose of this plan is to encourage you in reaching goals that not only achieve short-term performance but also align the Company’s goals with
the creation of long-term shareholder value. In recognition of your role within the Birks & Mayors Senior Management Team, I am delighted to confirm your participation in this new plan. 
 Essentially, the plan consists of the following three (3) components: 
  

	1.	Target incentive compensation percentage (“Target Compensation”); 

  

	2.	Payout percentage of Target Compensation determined by the achievement of predetermined performance measures in accordance with a matrix; 

  

	3.	Performance Evaluation cycle comprised of three-year intervals with the first cycle being the period of three years ending March 28, 2009, for which the Board of Directors has
approved the Payout Matrix and the Performance Criteria. The second cycle would be the next period of three years ending March 27, 2010 and so on. After the first cycle, each cycle and the goals and matrix for that cycle will require the Board
of Directors approval. 

 The plan is further described and illustrated in Schedule A attached hereto. 
 To be eligible, you must be actively employed as a member of the Birks and Mayors Senior Management Team on
March 31st, 2008. 

 Your target incentive compensation for the first three-year cycle
ending March 28, 2009 is                     % of your base salary that is in effect on March 31st, 2008. 
  

	 	 (1)
	 The matrix for determining the payout rate will be based on a three (3) year average (April 1, 2006 to
March 28, 2009 for the first cycle) of Sales Growth and Return On Equity (ROE) as presented in Schedule A. Incentive payments will be made following the approval by the Board of Directors of the audited statements for the period ending on
March 28, 2009 and will be contingent upon you being continuously and actively employed by Birks & Mayors Inc. (or one of its subsidiaries) through the date of the payout, if any, in June 2009. Incentive amount will be prorated
for those who will not have been actively employed during the period beginning March 31st, 2008 and ending
March 28, 2009 (maternity leave, long term disability leave, approved personal leave without pay). 

                     , we know that you share our enthusiasm and our desire to ensure the success and growth of Birks &
Mayors, and we hope that the Birks & Mayors Executive Management Long-Term Cash Incentive Plan will provide you with a generous incentive and ultimately reward you for your important contributions and achievements toward the Long Term
growth of Birks and Mayors and the creation of shareholder value. 
  

	
	Sincerely yours,
	
	   
	Thomas A. Andruskevich

 I, the undersigned, acknowledge receipt of this letter and accept the terms and conditions contained therein.

  

	
	
	   
	(Name)

 Date:
                     
  

 - 2 -First Amendment to the Credit Agreement

 Exhibit 4.29 
 FIRST AMENDMENT TO REVOLVING CREDIT, 
 TRANCHE B LOAN AND SECURITY AGREEMENT

 FIRST AMENDMENT TO REVOLVING CREDIT, TRANCHE B LOAN AND SECURITY AGREEMENT, dated as of November 9, 2006 (this
“Amendment”), by and among (i) MAYOR’S JEWELERS, INC., a Delaware corporation (the “U.S. Borrower”) and BIRKS & MAYORS INC. (f/k/a Henry Birks & Sons Inc.), a Canadian corporation (the
“Canadian Borrower” and, together with the U.S. Borrower, the “Borrowers”), (ii) the lenders party to the Credit Agreement referred to below (collectively, the “Lenders”), (iii) BANK OF
AMERICA, N.A., in its capacity as administrative agent (the “Administrative Agent”), and (iv) BANK OF AMERICA, N.A. (acting through its Canada Branch), as Canadian agent (the “Canadian
Agent”). Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Credit Agreement referred to below. 
 WHEREAS, the Borrowers, the Lenders, the Administrative Agent and the Canadian Agent are parties to a Revolving Credit, Tranche B Loan and Security Agreement, dated as of January 19, 2006 (as amended and
in effect from time to time, the “Credit Agreement”), pursuant to which the Lenders have extended credit to the Borrowers on the terms and subject to the conditions set forth therein; and 
 WHEREAS, the Borrowers, the Lenders, and the Administrative Agent have agreed, on the terms and conditions set forth herein, to amend certain
provisions of the Credit Agreement. 
 NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 §1.
Amendments to Section 1.1 of the Credit Agreement. 
 (a) Section 1.1 of the Credit Agreement is hereby amended by
adding the phrase “Borrowing Base” immediately before each reference to “Availability” in the definition of “Applicable Margin”. 
 (b) Section 1.1 of the Credit Agreement is further hereby amended by deleting the percentage “80%” in the definition of “Appraised A/R Percentage” and substituting therefor the percentage
“92%”. 
 (c) Section 1.1 of the Credit Agreement is hereby further amended by deleting clause (b) of the definition
“Availability” in its entirety and substituting therefor the following: “(b) the Borrowing Base Availability.” 
 (d)
Section 1.1 of the Credit Agreement is hereby further amended by deleting the reference to “85%” in clause (c) of the definition of “Canadian Borrowing Base” and substituting therefor the percentage “92%”.

 (e) Section 1.1 of the Credit Agreement is hereby further amended by deleting the reference to “85%” in clause (d) of
the definition of “U.S. Borrowing Base” and substituting therefor the percentage “92%”. 

 (f) Section 1.1 of the Credit Agreement is hereby further amended by adding the following new
definitions in the appropriate alphabetical order: 
 Borrowing Base Availability. An amount equal to (i) the
Dollar Equivalent of the Borrowing Base, minus (ii) the Dollar Equivalent of the Outstanding Amount of the Revolving Credit Loans (after giving effect to all amounts requested), minus (iii) the Dollar Equivalent of the
Outstanding Amount of L/C Obligations. 
 §2. Amendment to Section 10.1 of the Credit Agreement. Section 10.1 of
the Credit Agreement is hereby amended by deleting such Section 10.1 in its entirety and substituting therefore the following new Section: 
 10.1 Fixed Charge Coverage Ratio. The Borrowers will not permit the Fixed Charge Coverage Ratio as of the end of any Reference Period to be less than 1.00 to 1.00; provided, however, that
the provisions of this §10.1 shall only be applicable at such times that (a) daily average Borrowing Base Availability for the immediately preceding fiscal month ended is less than $8,750,000 or (b) Borrowing Base Availability is less
than $6,250,000 at any time. 
 §3. Representations and Warranties. Each of the Borrowers hereby represents and
warrants to the Administrative Agent and the Lenders as of the date hereof as follows: 
 (a) The execution and delivery by each of the
Borrowers of this Amendment and all other instruments and agreements required to be executed and delivered by such Borrower in connection with the transactions contemplated hereby or referred to herein (collectively, the “Amendment
Documents”), and the performance by each of the Borrowers of any of its obligations and agreements under the Amendment Documents and the Credit Agreement and the other Loan Documents, as amended hereby, are within the corporate or other
authority of such Borrower, have been authorized by all necessary corporate proceedings on behalf of such Borrower and do not and will not contravene any provision of law or such Borrower’s charter, other incorporation or organizational papers,
by-laws or any stock provision or any amendment thereof or of any indenture, agreement, instrument or undertaking binding upon such Borrower. 
 (b) Each of the Amendment Documents, the Credit Agreement and the other Loan Documents, as amended hereby, to which any Borrower is a party constitute legal, valid and binding obligations of such Person, enforceable in accordance with their
terms, except as limited by any Debtor Relief Laws or similar laws relating to or affecting generally the enforcement of creditors’ rights and except to the extent that availability of the remedy of specific performance or injunctive relief is
subject to the discretion of the court before which any proceeding therefore may be brought. 
 (c) No approval or consent of, or filing
with, any governmental agency or authority is required to make valid and legally binding the execution, delivery or performance by the Borrowers of the Amendment Documents, the Credit Agreement or any other Loan Documents, as amended hereby, or the
consummation by the Borrowers of the transactions among the parties contemplated hereby and thereby or referred to herein. 
 (d) The
representations and warranties contained in Section 7 of the Credit Agreement and in the other Loan Documents were true and correct as of the date made. Except to the extent of changes resulting from transactions contemplated or permitted by
the Credit Agreement and the other Loan Documents, changes occurring in the ordinary course of business (which changes, either singly or in the aggregate, have not been materially adverse) and to the extent that such representations and warranties
relate expressly to an earlier date and after giving effect to the provisions hereof, such representations and warranties, after giving effect to this Amendment, also are correct as of the date hereof. 
  

 2 

 (e) Each of the Borrowers has performed and complied in all material respects with all terms and
conditions herein required to be performed or complied with by it prior to or at the time hereof, and as of the date hereof, after giving effect to the provisions of this Amendment and the other Amendment Documents, there exists no Default or Event
of Default. 
 (f) Each of the Borrowers hereby acknowledges and agrees that the representations and warranties contained in this Amendment
shall constitute representations and warranties as referred to in Section 13.1(e) of the Credit Agreement, a breach of which shall constitute an Event of Default. 
 §4. Effectiveness. This Amendment shall become effective upon the satisfaction of each of the following conditions, in each case in a manner satisfactory in form and substance to the
Administrative Agent and the Lenders: 
 (a) This Amendment shall have been duly executed and delivered by each of the Borrowers, each of the
Guarantors and each of the Lenders and shall be in full force and effect; and 
 (b) The Administrative Agent shall have received signed
original Officer’s Certificates, certified by a duly authorized officer of each Borrower and each Guarantor to be true and complete, of the records of all corporate (or other) action taken by such Borrower or such Guarantor to authorize
(i) such Borrower’s or such Guarantor’s execution and delivery of this Amendment and (ii) such Borrower’s and such Guarantor’s entry into and carrying out the terms of this Amendment and the Credit Agreement, as amended
hereby; and 
 (c) The Borrowers shall have paid all unpaid reasonable fees and expenses of the Administrative Agent’s counsel, Bingham
McCutchen LLP, to the extent that copies of invoices for such fees and expenses have been delivered to the Borrowers; and 
 (d) The
Administrative Agent shall have received such other items, documents, agreements, items or actions as the Administrative Agent may reasonably request in order to effectuate the transactions contemplated hereby. 
 §5. Release. In order to induce the Administrative Agent and the Lenders to enter into this Amendment, the Borrowers each
acknowledges and agrees that: (i) such Borrower does not have any claim or cause of action against the Administrative Agent, the Canadian Agent, any Applicable L/C Issuer or any Lender (or any of their respective directors, officers, employees
or agent); (ii) such Borrower does not have any offset right, counterclaim, right of recoupment or any defense of any kind against such Borrower’s obligations, indebtedness or liabilities to the Administrative Agent, the Canadian Agent,
any Applicable L/C Issuer or any Lender; and (iii) each of the Administrative Agent, the Canadian Agent, the Applicable L/C Issuers and the Lenders has heretofore properly performed and satisfied in a timely manner all of its obligations to the
Borrowers. Each Borrower wishes to eliminate any possibility that any past conditions, acts, omissions, events, circumstances or matters would impair or otherwise adversely affect any of the Administrative Agent’s, the Canadian Agent’s,
any Applicable L/C Issuer’s and the Lenders’ rights, interests, contracts, collateral security or remedies. Therefore, each Borrower unconditionally releases, waives and forever discharges (A) any and all liabilities, obligations,
duties, promises or indebtedness of any kind of the Administrative Agent, the Canadian Agent, the Applicable L/C Issuers or any Lender to the Borrowers, except the obligations to be performed by the Administrative Agent, the Canadian Agent, the
Applicable L/C Issuer or any Lender on or after the date hereof as expressly stated in this Amendment, the Credit Agreement and the other Loan Documents, and (B) all claims, offsets, causes of action, right of recoupment, suits or defenses of
any kind whatsoever (if any), whether arising at law or in equity, whether known or unknown, which the Borrowers might otherwise have against the 

  

 3 

 
Administrative Agent, the Canadian Agent, any Applicable L/C Issuer or any Lender or any of their respective directors, officers, employees or agents, in
either case (A) or (B), on account of any past or presently existing (as of the date hereof) condition, act, omission, event, contract, liability, obligation, indebtedness, claim, cause of action, defense, circumstance or matter of any kind.

 §6. Miscellaneous Provisions. 
 (a) Each of the Borrowers hereby ratifies and confirms all of its Obligations to the Administrative Agent and the Lenders under the Credit Agreement, as amended hereby, and the other Loan Documents, including, without
limitation, the Loans, and each of the Borrowers hereby affirms its absolute and unconditional promise to pay to the Lenders and the Administrative Agent the Loans, reimbursement obligations and all other amounts due or to become due and payable to
the Lenders and the Administrative Agent under the Credit Agreement and the other Loan Documents, as amended hereby. Except as expressly amended hereby, each of the Credit Agreement and the other Loan Documents shall continue in full force and
effect. This Amendment and the Credit Agreement shall hereafter be read and construed together as a single document, and all references in the Credit Agreement, any other Loan Document or any agreement or instrument related to the Credit Agreement
shall hereafter refer to the Credit Agreement as amended by this Amendment. 
 (b) Without limiting the expense reimbursement requirements
set forth in Section 16.2 of the Credit Agreement, the Borrower agrees to pay on demand all costs and expenses, including reasonable attorneys’ fees, of the Administrative Agent incurred in connection with this Amendment. 
 (c) THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 (d) This Amendment may be executed in any number of counterparts, and all such counterparts shall together constitute but one instrument. In making proof
of this Amendment it shall not be necessary to produce or account for more than one counterpart signed by each party hereto by and against which enforcement hereof is sought. Delivery of a facsimile signature page hereto shall constitute the
delivery of an original signature page hereof. 
 [Remainder of page intentionally left blank.] 
  

 4 

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

			
	U.S. BORROWER and BORROWER’S REPRESENTATIVE
	
	MAYOR’S JEWELERS, INC.
		
	By:	 	/s/ Thomas A. Andruskevich
	Name:	 	Thomas A. Andruskevich
	Title:	 	President &CEO
		
	By:	 	/s/ Marco Pasteris
	Name:	 	Marco Pasteris
	Title:	 	Group VP, Finance and Treasurer

  

			
	CANADIAN BORROWER
	
	BIRKS & MAYORS INC.
		
	By:	 	/s/ Thomas A. Andruskevich
	Name:	 	Thomas A. Andruskevich
	Title:	 	President & CEO
		
	By:	 	/s/ Marco Pasteris
	Name:	 	Marco Pasteris
	Title:	 	Group VP, Finance and Treasurer

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

  

			
	CANADIAN AGENT
	
	BANK OF AMERICA, N.A. (acting through its Canada Branch)
		
	By:	 	/s/ Nelson Lam
	Name:	 	Nelson Lam
	Title:	 	Vice President

  

 2 

			
	REVOLVING CREDIT LENDERS
	
	BANK OF AMERICA, N.A.
		
	By:	 	/s/ Mark D. Twomey
	Name:	 	Mark D. Twomey
	Title:	 	Vice President

  

 3 

			
	GMAC BUSINESS CREDIT LLC
		
	By:	 	/s/ Elizabeth C. White
	Name:	 	Elizabeth C. White
	Title:	 	Director

  

 4 

			
	 LASALLE RETAIL FINANCE, a division of LASALLE BUSINESS CREDIT, LLC, as Agent for
 LASALLE BANK MIDWEST NATIONAL
ASSOCIATION

		
	By:	 	/s/ Matthew Potter
	Name:	 	Matthew Potter
	Title:	 	VP – Account Executive

  

 5 

			
	GMAC COMMERCIAL FINANCE CORPORATION - CANADA
		
	By:	 	/s/ Elizabeth C. White
	Name:	 	Elizabeth C. White
	Title:	 	Authorized Representative

  

 6 

			
	LASALLE BUSINESS CREDIT, a division of ABN AMRO BANK N.V., CANADA BRANCH
		
	By:	 	/s/ Nick Dounas
	Name:	 	Nick Dounas
	Title:	 	Vice President
		
	By:	 	/s/ Darcy Mack
	Name:	 	Darcy Mack
	Title:	 	First Vice President

  

 7 

 RATIFICATION OF GUARANTY 
 Each of the undersigned Guarantors hereby (a) acknowledges and consents to the foregoing Amendment and the Borrowers’ execution thereof;
(b) ratifies and confirms all of their respective obligations and liabilities under the Loan Documents to which any of them is a party and ratifies and confirms that such obligations and liabilities extend to and continue in effect with respect
to, and continue to guarantee and secure, as applicable, the Obligations of the Borrowers under the Credit Agreement; (c) acknowledge and confirm that the liens and security interests granted pursuant to the Loan Documents are and continue to
be valid and perfected first priority liens and security interests (subject only to Permitted Liens) that secure all of the Obligations on and after the date hereof; (d) acknowledges and agrees that, as of the date hereof, such Guarantor does
not have any claim or cause of action against the Administrative Agent or any Lender (or any of its respective directors, officers, employees or agents); and (e) acknowledges, affirms and agrees that, as of the date hereof, such Guarantor does
not have any defense, claim, cause of action, counterclaim, offset or right of recoupment of any kind or nature against any of their respective obligations, indebtedness or liabilities to the Administrative Agent or any Lender. 
  

			
	GUARANTORS
	
	HENRY BIRKS & SONS U.S., INC.
		
	By:	 	/s/ Thomas A. Andruskevich
	Name:	 	Thomas A. Andruskevich
	Title:	 	President & CEO
		
	By:	 	/s/ Michael Rabinovitch
	Name:	 	Michael Rabinovitch
	Title:	 	CFO

  

			
	 MAYOR’S JEWELERS OF FLORIDA, INC.
 JBM RETAIL COMPANY, INC.
 JBM VENTURE CO., INC.
 MAYOR’S JEWELRYS INTELLECTUAL
     PROPERTY HOLDING COMPANY
 JAN BELL MARKETING-PUERTO RICO, INC.

		
	By:	 	/s/ Thomas A. Andruskevich
	Name:	 	Thomas A. Andruskevich
	Title:	 	President & CEO
		
	By:	 	/s/ Michael Rabinovitch
	Name:	 	Michael Rabinovitch
	Title:	 	CFO

  

 12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}]]