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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001193125-10-059659.txt : 20100317
<SEC-HEADER>0001193125-10-059659.hdr.sgml : 20100317
<ACCEPTANCE-DATETIME>20100317172314
ACCESSION NUMBER:		0001193125-10-059659
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100316
FILED AS OF DATE:		20100317
DATE AS OF CHANGE:		20100317

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIRKS & MAYORS INC.
		CENTRAL INDEX KEY:			0001179821
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-JEWELRY STORES [5944]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32635
		FILM NUMBER:		10689575

	BUSINESS ADDRESS:	
		STREET 1:		1240 SQUARE PHILLIPS
		CITY:			MONTREAL
		STATE:			A8
		ZIP:			H3B 3H4
		BUSINESS PHONE:		5143972511

	MAIL ADDRESS:	
		STREET 1:		1240 SQUARE PHILLIPS
		CITY:			MONTREAL
		STATE:			A8
		ZIP:			H3B 3H4

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HENRY BIRKS & SONS INC
		DATE OF NAME CHANGE:	20020809
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 6-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P
STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:4px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>UNITED STATES </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>WASHINGTON, D.C. 20549 </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P
STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>FORM 6-K </B>
</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P
STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>REPORT OF FOREIGN PRIVATE ISSUER </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>PURSUANT TO RULE 13a-16 or 15d-16 UNDER THE </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>SECURITIES EXCHANGE ACT OF
1934 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>For the month of March, 2010 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Commission file number: 001-32635 </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P
STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="6"><B>BIRKS&nbsp;&amp;
MAYORS INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(Translation of Registrant&#146;s name into English) </B></FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px"
ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1240 Phillips Square </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Montreal Qu&eacute;bec </B>
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Canada </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>H3B 3H4 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Address of principal executive office) </B></FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT>&nbsp;&nbsp;Form 20-F&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form 40-F
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> <U></U> </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Note</B>: Regulation S-T Rule 101(b)(1) only
permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Indicate by
check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U></U> </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Note</B>: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant&#146;s &#147;home country&#148;), or under the rules of the
home country exchange on which the registrant&#146;s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant&#146;s security holders, and, if
discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Indicate by check
mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;&nbsp;Yes&nbsp;&nbsp;&nbsp;&nbsp;<FONT
STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT>&nbsp;&nbsp;No </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">If &#147;Yes&#148; is marked, indicated below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P> <P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P
STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXPLANATORY NOTE: </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Birks&nbsp;&amp; Mayors Inc. (the &#147;Company&#148;) has entered into an Amendment to Employment Agreement with Mr.&nbsp;Thomas Andruskevich, the Company&#146;s Chief Executive Officer, dated
March&nbsp;16, 2010 to cancel the outstanding options granted under his employment agreement dated April&nbsp;16, 2008, including the anti-dilutive feature thereunder. In addition, the Company entered into an Amendment to Employment Agreement with
Mr.&nbsp;Andruskevich dated March&nbsp;16, 2010 (the &#147;Amendment&#148;) granting a new stock option providing Mr.&nbsp;Andruskevich the right to purchase 242,944 Class&nbsp;A voting shares at an exercise price equal to US$1.00. The Amendment
also provides that in the event of a going-private transaction, the new option will remain outstanding and will be exercisable for a cash payment instead of Class&nbsp;A voting shares. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Company also entered into an Amendment to the Stock Appreciation Rights Agreement with Mr.&nbsp;Andruskevich dated March&nbsp;16, 2010 and an Amendment to the Stock Appreciation Rights Agreement with
Mr.&nbsp;Michael Rabinovitch, the Company&#146;s Chief Financial Officer, dated March&nbsp;16, 2010 relating to the amendment of certain outstanding stock appreciation rights held by such individuals. The amended stock appreciation rights have the
same terms as the existing stock appreciation rights except that there has been a reduction in the exercise price, a reduction in the number of Class&nbsp;A voting shares that are subject to the amended stock appreciation rights, a new ten year term
and certain new provisions relating to a change in control, a liquidation or dissolution and a going-private transaction of the Company. </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>CONTENTS </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The following documents of the Registrant are submitted herewith: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="95%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">99.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to Employment Agreement between Birks &amp; Mayors Inc. and Mr. Thomas Andruskevich dated March&nbsp;16, 2010</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to Employment Agreement between Birks &amp; Mayors Inc. and Mr. Thomas Andruskevich dated March 16, 2010</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to the Stock Appreciation Rights Agreement between Birks &amp; Mayors Inc. and Mr.&nbsp;Thomas Andruskevich dated March 16, 2010</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to the Stock Appreciation Rights Agreement between Birks &amp; Mayors Inc. and Mr.&nbsp;Michael Rabinovitch dated March 16, 2010</FONT></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SIGNATURES </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>BIRKS &amp; MAYORS INC.</U></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">(Registrant)</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Miranda Melfi</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Miranda Melfi</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date: March 16, 2010</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Group Vice President, Legal Affairs and Corporate Secretary</I></FONT></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>EXHIBIT INDEX </U></B></FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="88%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1px solid #000000;width:55pt" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Exhibit&nbsp;Number</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit&nbsp;99.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to Employment Agreement between Birks &amp; Mayors Inc. and Mr. Thomas Andruskevich dated March 16, 2010</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to Employment Agreement between Birks &amp; Mayors Inc. and Mr. Thomas Andruskevich dated March 16, 2010</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to the Stock Appreciation Rights Agreement between Birks &amp; Mayors Inc. and Mr.&nbsp;Thomas Andruskevich dated March 16, 2010</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to the Stock Appreciation Rights Agreement between Birks &amp; Mayors Inc. and Mr.&nbsp;Michael Rabinovitch dated March 16, 2010</FONT></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 99.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">AMENDMENT TO EMPLOYMENT AGREEMENT ENTERED INTO IN THE CITY OF MONTREAL, PROVINCE OF QUEBEC (THE &#147;AGREEMENT&#148;) </FONT></P> <P
STYLE="line-height:1px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000">&nbsp;</P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>BY&nbsp;AND&nbsp;BETWEEN:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>BIRKS &amp; MAYORS INC.,</B> a corporation duly incorporated according to the laws of Canada, having its head office at 1240, Phillips Square, Montreal, Quebec, herein acting and
represented by Lorenzo Rossi di Montelera, Chairman of the Board of Directors, duly authorized for the purposes hereof as he hereby declares (hereinafter referred to as the &#147;Employer&#148;, &#147;Birks&#148; and/or as
&#147;Company&#148;),</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>AND:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>THOMAS A. ANDRUSKEVICH</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">(hereinafter referred to as the &#147;Employee&#148;).</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>WHEREAS</B> on April&nbsp;16, 2008, the
Employer and the Employee entered into an employment agreement whereby the Employer renewed the employment of the Employee (the &#147;Employment Agreement&#148;); </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>WHEREAS</B> the Employment Agreement acknowledged the various stock options granted to the Employee through former employment agreements; </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>WHEREAS</B> the Employer and Employee wish that the stock options referred to under section 5 of the Employment Agreement and listed in
the attached Exhibit A (the &#147;Existing Options&#148;) be cancelled. For greater clarity, it is understood that Exhibits B and B-1 of the Employment Agreement dated April&nbsp;16, 2008 are deleted. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NOW, THEREFORE, THIS AGREEMENT WITNESSETH AS FOLLOWS: </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">1. <U>Preamble</U>. The preamble shall form an integral part hereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">2. <U>Cancellation</U>. The
Existing Options are hereby cancelled without any other notice formality or other obligations or liability on the part of either party hereto. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">3. <U>Other Terms</U>. Except as expressly modified hereby, all terms and provisions of the Employment Agreement shall remain unchanged and in full force and effect.<B> </B>In the event of an inconsistency between the terms of this
Agreement and the terms of the Employment Agreement, the terms hereof shall control. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">4. <U>Governing Law</U>. This Agreement shall be
construed and enforced in accordance with and the rights of the parties shall be governed by, the laws of the Province of Quebec. </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">5. <U>Inurement</U>. This Agreement shall inure to the benefit of and be binding upon the parties hereto and
their respective heirs, successors, administrators, representatives and assigns. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">6. <U>Language</U>. The parties hereto acknowledge having
required that this Agreement and all documentation, notices and judicial proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto be drawn up in English. Les parties reconnaissent avoir exig&eacute; que
la pr&eacute;sente convention ainsi que tous documents, avis et proc&eacute;dures judiciaires qui pourront &ecirc;tre ex&eacute;cut&eacute;s, donn&eacute;s ou intent&eacute;s &agrave; la suite des pr&eacute;sentes ou se rapportant directement ou
indirectement avec la pr&eacute;sente convention, soient r&eacute;dig&eacute;s en anglais. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>IN WITNESS WHEREOF</B>, the
parties hereto have executed this Agreement as of the date indicated below. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">

<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Signed this 16<FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> day of March, 2010</FONT></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>BIRKS &amp; MAYORS INC.</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Per:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Shirley Dawe</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Shirley Dawe</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>Chairperson of the Compensation Committee</B></FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Thomas A. Andruskevich</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Signed this 16<FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> day of March, 2010</FONT></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>THOMAS A. ANDRUSKEVICH</B></FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>E<SMALL>XHIBIT</SMALL> A </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"
ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>S<SMALL>TOCK</SMALL> O<SMALL>PTIONS</SMALL></U><SMALL></SMALL> </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><U><SMALL>REGARDING</SMALL> <SMALL>SHARES</SMALL> <SMALL>OF</SMALL> B<SMALL>IRKS</SMALL>&nbsp;&amp; M<SMALL>AYORS</SMALL> I<SMALL>NC</SMALL>.</U> </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U><SMALL>AS</SMALL> <SMALL>AT</SMALL> D<SMALL>ECEMBER</SMALL>&nbsp;31, 2009</U> </B></FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="41%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1px solid #000000;width:77pt" ALIGN="center"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>T<SMALL>YPE</SMALL>&nbsp;<SMALL>AND</SMALL>&nbsp;O<SMALL>RIGIN</SMALL></B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>C<SMALL>URRENT</SMALL>&nbsp;N<SMALL>UMBER</SMALL>&nbsp;<SMALL>OF</SMALL><BR>S<SMALL>HARES</SMALL>&nbsp;<SMALL>UNDER</SMALL><BR>E<SMALL>XISTING</SMALL>&nbsp;O<SMALL>PTIONS</SMALL></B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>V<SMALL>ESTING</SMALL></B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>S<SMALL>TATUS</SMALL></B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>C<SMALL>URRENT</SMALL></B></FONT><br><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>P<SMALL>RICE</SMALL>&nbsp;<SMALL>PER</SMALL><BR>S<SMALL>HARE</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>F<SMALL>ORMER</SMALL><BR>G<SMALL>RANT</SMALL>&nbsp;D<SMALL>ATE</SMALL><BR><SMALL>OR</SMALL><BR>A<SMALL>SSIGNMENT</SMALL><BR>D<SMALL>ATE</SMALL></B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>E<SMALL>XPIRY</SMALL>
D<SMALL>ATE</SMALL></B></FONT></P></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Birk&#146;s&nbsp;Options (contained in former employment agreements)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">204,594</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="right"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(as&nbsp;at&nbsp;12/31/2004)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F<SMALL>ULLY</SMALL></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">V<SMALL>ESTED</SMALL></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">CAN$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.00</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">05/15/1996 (reconfirmed 06/19/1998)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 years after termination for any reason whatsoever including death or 10&nbsp;years after retirement</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">126,272</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F<SMALL>ULLY</SMALL> V<SMALL>ESTED</SMALL></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">CAN$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.25</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">06/19/1998</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">126,266</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F<SMALL>ULLY</SMALL> V<SMALL>ESTED</SMALL></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">CAN$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7.00</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10/24/2001</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="41%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1px solid #000000;width:77pt" ALIGN="center"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>T<SMALL>YPE</SMALL>&nbsp;<SMALL>AND</SMALL>&nbsp;O<SMALL>RIGIN</SMALL></B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>C<SMALL>URRENT</SMALL>&nbsp;N<SMALL>UMBER</SMALL>&nbsp;<SMALL>OF</SMALL><BR>S<SMALL>HARES</SMALL>&nbsp;<SMALL>UNDER</SMALL><BR>E<SMALL>XISTING</SMALL>&nbsp;O<SMALL>PTIONS</SMALL></B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>V<SMALL>ESTING</SMALL></B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>S<SMALL>TATUS</SMALL></B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>C<SMALL>URRENT</SMALL></B></FONT><br><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>P<SMALL>RICE</SMALL>&nbsp;<SMALL>PER</SMALL><BR>S<SMALL>HARE</SMALL></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>F<SMALL>ORMER</SMALL><BR>G<SMALL>RANT</SMALL>&nbsp;D<SMALL>ATE</SMALL><BR><SMALL>OR</SMALL><BR>A<SMALL>SSIGNMENT</SMALL><BR>D<SMALL>ATE</SMALL></B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>E<SMALL>XPIRY</SMALL>
D<SMALL>ATE</SMALL></B></FONT></P></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Additional Birks entitlements arising from grant in 05/15/1996 which are created after 12/31/2004 but before 12/31/2007</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">55,243*</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F<SMALL>ULLY</SMALL> V<SMALL>ESTED</SMALL></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">CAN$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.00</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">05/15/1996 (reconfirmed 06/19/1998)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">December&nbsp;31, 2012 and Employee may extend the expiry date to December&nbsp;31, 2017 by written notice to the Employer given no later than December&nbsp;31,
2010</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Additional Birks entitlements arising from grant on 05/15/96 which are created after 12/31/07</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">To&nbsp;be&nbsp;determined, namely 2% of any new stock options or other new securities exercisable into capital stock (or shares issued upon exercise, conversion or exchange
thereof), any new restricted stock or any new equity granted or issued by Birks after 12/31/07 other than for compensatory purposes.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F<SMALL>ULLY</SMALL> V<SMALL>ESTED</SMALL></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">CAN$</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6.00</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">05/15/1996 (reconfirmed 06/19/1998)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">December 31, 2012 and Employee may extend the expiry date to December 31, 2017 by written notice to the Employer given no later than December 31, 2010</FONT></TD></TR></TABLE> <P
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">*</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Calculated on December&nbsp;31, 2007. Number subject to change as option is to subscribe for 2% of the issued and outstanding shares (on a fully-diluted basis) at the
time that the option is exercised. </FONT></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">AMENDMENT TO EMPLOYMENT AGREEMENT ENTERED INTO IN THE CITY OF MONTREAL, PROVINCE OF QUEBEC (THE
&#147;AGREEMENT&#148;) </FONT></P> <P STYLE="line-height:1px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000">&nbsp;</P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>BY AND BETWEEN:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>BIRKS &amp; MAYORS INC.,</B> a corporation duly incorporated according to the laws of Canada, having its head office at 1240, Phillips Square, Montreal, Quebec, herein acting
and represented by Lorenzo Rossi di Montelera, Chairman of the Board of Directors, duly authorized for the purposes hereof as he hereby declares (hereinafter referred to as the &#147;Employer&#148;, &#147;Birks&#148; and/or as &#147;Company&#148;),
</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>AND:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>THOMAS A. ANDRUSKEVICH</B> (hereinafter referred to as the &#147;Employee&#148;).</FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>WHEREAS</B> on April&nbsp;16, 2008, the Employer and the Employee entered into an employment agreement whereby the Employer renewed the employment of the Employee (the &#147;Employment
Agreement&#148;); </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>WHEREAS</B> the Employer wishes to grant a stock option to the Employee under his Employment Agreement
in accordance with the terms and conditions hereinafter set forth (the &#147;Option&#148;). </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NOW, THEREFORE, THIS AGREEMENT WITNESSETH AS
FOLLOWS: </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Preamble</U>. The preamble shall form an integral part hereof. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Number of Shares</U>. The Company hereby grants to the Employee a stock option (the &#147;Option&#148;) to purchase
242,944 Class&nbsp;A voting shares of the Company (the &#147;Shares&#148;) to be issued outside of any Company stock option plan. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Purchase Price</U>. The exercise price at which the Shares may be acquired upon the exercise of the Option shall be US$1.00 (the &#147;Exercise Price Per Share&#148;). </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Exercise Date</U>. The Option is fully vested and shall remain exercisable as follows: </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">for a period of twenty-four (24)&nbsp;months following the date of the termination of employment of the Employee for any reason whatsoever including death; or
</FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">b.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">in the event of the retirement of the Employee, all options shall remain valid and exercisable for ten (10)&nbsp;years following the date of retirement.
</FONT></TD></TR></TABLE>



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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Option must be exercised on or before the foregoing respective termination dates in paragraphs 4
(a)&nbsp;and (b)&nbsp;hereof, as the case may be, after which date the unexercised New Option, in whole or in part, shall be void for all purposes. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Manner of Exercise</U>. Employee may exercise the Option by giving a written notice to the Group Vice President, Legal Affairs (i)&nbsp;by personal hand delivery, (ii)&nbsp;by e-mail, (iii)&nbsp;by
registered certified mail, postage prepaid, or (iv)&nbsp;by fax, at the following address of his intent to exercise the Option, including the number of Shares that the Employee intends to acquire and the full consideration thereof: </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; margin-left:21%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Birks&nbsp;&amp; Mayors Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:21%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">1240 Phillips Square </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:21%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Montreal, Qu&eacute;bec </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:21%"><FONT STYLE="font-family:Times New Roman" SIZE="2">H3B 3H4 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:21%"><FONT STYLE="font-family:Times New Roman" SIZE="2">FAX:
514-397-2537 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:21%"><FONT STYLE="font-family:Times New Roman" SIZE="2">E-MAIL: <U>mmelfi@birksandmayors.com</U> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">All costs incurred by the Employee to exercise the Options are the sole responsibility of the Employee. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Going-Private Transaction</U>.<B> </B>In the event of the occurrence of a Going-Private Transaction, the Option will remain outstanding after the consummation of such transaction and the Option
shall be exercisable solely for a cash payment equal to the excess of the Fair Market Value per Share on the date of exercise over the Exercise Price Per Share. The total appreciation available to the Employee as a result of any exercise of the
Option shall be equal to one hundred per cent (100%)&nbsp;of the product of (i)&nbsp;the number of Shares with respect to which the Option is exercised multiplied by (ii)&nbsp;the excess of the Fair Market Value on the date the Option is exercised
over the Exercise Price Per Share. It is understood that the Company may exercise its right to defer lump sum payments in accordance with Section&nbsp;6.10 of the Employment Agreement. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Definitions</U>. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<U>Administrator</U>&#148;
means the Board or a committee appointed by the Board; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<U>Exchange Act</U>&#148; refers to the Securities Exchange Act of 1934 of the
United States of America, as amended. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<U>Fair Market Value</U>&#148; means, as of any date, the value of a Share determined as follows:
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Shares are listed
on an established stock exchange or a national market system, including, without limitation, the American Stock Exchange or the National Market System of the National Association of Securities Dealers, Inc. Automated Quotation (&#147;NASDAQ&#148;)
System, the Fair Market Value of a Share shall be the closing sales price for such a share as quoted on such system or exchange (or the exchange with the greatest volume of trading in Shares) on the last market trading day prior to the day of
determination on which the Shares were traded, as reported in The Wall Street Journal or such other source the Administrator deems reliable; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT
STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Shares are not quoted on the American Stock Exchange but are quoted on the NASDAQ System (but not on the National Market System thereof) or are
regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share shall be the mean between the high bid and low asked prices for the Shares on the last market trading day prior to the day of
determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the absence of an
established market for the Shares, the Fair Market Value of a Share shall be determined in good faith by the Administrator based on the most recent available annual valuation of an independent appraiser (being the Company&#146;s external independent
accounting firm or other nationally-recognized independent accounting firm in the event that the Company&#146;s accounting firm is unable to perform such services from an independence perspective) obtained by the Company within ninety (90)&nbsp;days
of the Company&#146;s most recent fiscal year. In the event that the Grantee wishes to exercise his option in relation to 50,000 Shares or more within a period that is more than sixty (60)&nbsp;days after the most recent available valuation is
received by the Company, the Fair Market Value of a Share shall be determined in good faith by the Administrator based on an updated valuation obtained from the independent appraiser. In the event that more than three (3)&nbsp;valuations are
required in any fiscal year, then the Grantee shall bear the cost of any additional valuations, or may request that the determination of the Fair Market Value of a Share be based on the most recent valuation, at his sole discretion. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<U>Going-Private Transaction</U>&#148; means: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A transaction that is subject to Rule 13e-3 under the Exchange Act; or </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company (i)&nbsp;delists its
Class&nbsp;A voting shares from the NYSE Amex or any other national securities exchange upon which the Class&nbsp;A voting shares are listed or causes the Class&nbsp;A voting shares to cease to be authorized to be quoted in an automated quotations
system operated by a national securities association (ii)&nbsp;terminates its registration under Section&nbsp;12(g)(4) of the Exchange Act, and (iii)&nbsp;suspends its obligation to file reports pursuant to Section&nbsp;15(d) of the Exchange Act.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Acknowledgement</U>. Employee accepts the Option subject to all the terms and provisions of this
Agreement. Employee agrees to consult his independent tax advisors with respect to the income tax consequences to him, if any, regarding the Option. Employee authorizes the Company to withhold in accordance with applicable law from any compensation
otherwise payable to him any taxes required to be withheld by federal, state or local law as a result of the exercise of the Option. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Other Terms</U>. Except as expressly modified hereby, all terms and provisions of the Employment Agreement shall remain unchanged and in full force and effect.<B> </B>In the event of an
inconsistency between the terms of this Amendment and the terms of the Employment Agreement, the terms hereof shall control. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Governing Law</U>. This Amendment shall be construed and enforced
in accordance with and the rights of the parties shall be governed by, the laws of the Province of Quebec. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Inurement</U>. This Amendment shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, successors, administrators, representatives and assigns. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Language</U>. The parties hereto acknowledge having required that this Agreement and all documentation,
notices and judicial proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto be drawn up in English. Les parties reconnaissent avoir exig&eacute; que la pr&eacute;sente convention ainsi que tous
documents, avis et proc&eacute;dures judiciaires qui pourront &ecirc;tre ex&eacute;cut&eacute;s, donn&eacute;s ou intent&eacute;s &agrave; la suite des pr&eacute;sentes ou se rapportant directement ou indirectement avec la pr&eacute;sente
convention, soient r&eacute;dig&eacute;s en anglais. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>IN WITNESS WHEREOF</B>, the parties hereto have executed this
Agreement as of the date indicated below. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Signed this 16<FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> day of March, 2010</FONT></B></FONT></TD>
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<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>BIRKS&nbsp;&amp; MAYORS INC.</B></FONT></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Per:</B></FONT></TD>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B></B>/s/ Shirley Dawe</FONT></TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Shirley Dawe, Chairperson of the</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Compensation Committee</B></FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Signed this 16<FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> day of March, 2010</FONT></B></FONT></TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Thomas A. Andruskevich</FONT></TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>THOMAS A. ANDRUSKEVICH</B></FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>BIRKS&nbsp;&amp; MAYORS INC. </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"
ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>AMENDMENT TO THE STOCK APPRECIATION RIGHTS AGREEMENT </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2">This Amendment to the Stock Appreciation Rights Agreement (the &#147;Amendment&#148;), effective as of March&nbsp;16, 2010 (the &#147;Effective Date&#148;) is made by and between Birks&nbsp;&amp; Mayors Inc., a Canadian corporation (the
&#147;Company&#148;), and Thomas&nbsp;A. Andruskevich (the &#147;Grantee&#148;). </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Background </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Mayor&#146;s Jewelers, Inc. (&#147;Mayors&#148;), the Company&#146;s wholly-owned subsidiary previously established the Mayor&#146;s
Jewelers, Inc. 2004 Long-Term Incentive Plan (the &#147;Plan&#148;). On August&nbsp;9, 2005, Mayors granted to the Grantee a Stock Appreciation Right with respect to 86,950 shares of common stock of Mayors (&#147;SARs&#148;) (the &#147;Award&#148;)
pursuant to the terms of the Plan and that certain stock appreciation rights agreement (the &#147;Agreement&#148;). The Company assumed the Agreement as of November&nbsp;15, 2005, and the shares subject to Award were converted into the right to
receive Class&nbsp;A Voting Shares of the Company. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company and the Grantee wish to amend some of the terms of the Award.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Amendment is entered into in accordance with the terms and conditions of the Plan, the terms of which are incorporated
herein by reference, and the Amendment shall in all respects be interpreted in accordance with the Plan. Any term used in the Amendment that is not otherwise defined in the Amendment shall have the meaning assigned to it by the Plan. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, receipt of which is
hereby acknowledged, the parties agree that the Award is hereby amended as follows (the &#147;Amended Award&#148;): </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1.</B>
<B>Number of SARs</B>. The number of shares of Class&nbsp;A Voting Shares of the Company subject to the Award is hereby decreased to 17,390 (the &#147;Amended SARs&#148;). </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>2.</B> <B>Vesting and Exercisability.</B> The Amended SARs are fully vested and may be exercised by the Grantee as of the Effective Date. </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>3.</B> <B>Exercise Price</B>. The exercise price at which the Amended SARs may be acquired upon exercise of the Amended Award shall be
US$1.00 per Class&nbsp;A Voting Share of the Company which is equal to the greater of US$1.00 and the closing sale price of the Company&#146;s Class&nbsp;A Voting Shares plus 7% on the last trading day prior to the date hereof (the &#147;Exercise
Price&#148;). </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>4.</B> <B>Appreciation Available</B>. Each Amended SAR shall entitle the Grantee to receive one hundred
percent (100%)&nbsp;of the excess of (i)&nbsp;the Fair Market Value of one share of the Class&nbsp;A Voting Shares of the Company on the date the Grantee exercises the Amended SAR (the &#147;Appreciation Price&#148;) over (ii)&nbsp;the Exercise
Price. The total appreciation available to the Grantee as a result of any exercise of the Amended SARs shall be equal to one hundred percent (100%)
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
of the product of (i)&nbsp;the number of Amended SARs exercised multiplied by (ii)&nbsp;the excess of the Appreciation Price over the Exercise Price. The payment of such amount shall be in cash,
in Shares of Class&nbsp;A Voting Shares of the Company that have an aggregate Fair Market Value (as of the date of exercise of the Amended SAR) equal to the amount of the payment, or in some combination thereof, as determined by the Administrator in
its sole discretion. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>5.</B> <B>Duration of Amended Award</B>. Except as specified below, the Amended Award shall expire on
March&nbsp;16, 2020. Notwithstanding the foregoing, the Amended Award may expire prior to March&nbsp;16, 2020, in the following circumstances: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) In the case of the Grantee&#146;s termination of employment with the Company for any reason other than retirement or for Cause, the Amended Award shall expire on the two-year anniversary of the
Grantee&#146;s Date of Termination. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) In the case of the Grantee&#146;s termination of employment with the Company due to
retirement, the Amended Award will expire on March&nbsp;16, 2020. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) In the case of the Grantee&#146;s termination of
employment with the Company for Cause, the Amended Award shall expire on the Grantee&#146;s Date of Termination. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes
of this Section&nbsp;5, &#147;Cause&#148; shall have the meaning assigned to such term in the Employment Amendment dated April&nbsp;16, 2008, between Grantee and the Company. </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>6.</B> <B>Dissolution or Liquidation</B>. In the event of the dissolution or liquidation of the Company, to the extent that the Amended
Award is outstanding on the date of such dissolution or liquidation, it will terminate immediately prior to the consummation of such dissolution or liquidation. The Administrator, may, in the exercise of its sole discretion in such instances,
declare that the Amended Award shall terminate as of a date fixed by the Administrator and give the Grantee the right to exercise the Amended Award as to all or any part of the Covered Stock. </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>7.</B> <B>Change in Control</B>. In the event of a Change in Control, that is not a Going-Private Transaction, the Administrator, in the
exercise of its sole discretion, shall be entitled to take any of the following actions, or any other action that the Administrator in the exercise of its sole discretion determines to be fair to the Grantee: </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) prior to the occurrence of such a Change in Control, provide that all outstanding Amended Awards upon the consummation of such a merger
or sale shall be assumed by, or an equivalent option or right shall be substituted by, the successor corporation or a Parent or Subsidiary of the successor corporation; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(ii) prior to the occurrence of such a Change in Control, provide that all outstanding Amended Awards, to the extent they are exercisable and vested, shall be terminated in exchange for a cash payment
equal to the Change in Control Price reduced by the Exercise Price. These cash proceeds shall be paid to the Grantee or, in the event of death of a Grantee prior to payment, to the estate of the Grantee or to a person who acquired the right to
exercise the Amended Award by bequest or inheritance; or </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(iii) prior to the occurrence of such a Change in Control, provide for Grantee to have the
right to exercise the Amended Award as to all or a portion of the Shares covered by the Amended Award. If the Administrator makes the Amended Award exercisable in lieu of assumption or substitution in the event of a Change in Control, the
Administrator shall notify Grantee that the Amended Award shall be fully exercisable for a period of 15 days from the date of such notice (or such shorter period of time as the Administrator determines to be reasonable in the exercise of its sole
discretion), and the Amended Award will terminate upon the expiration of such period. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>8. Going-Private Transaction. </B>In
the event of the occurrence of a Going-Private Transaction, the Amended Award will remain outstanding after the consummation of such transaction and each outstanding Amended SAR shall be exercisable solely for a cash payment equal to the excess of
the Appreciation Price over the Exercise Price. The total appreciation available to the Grantee as a result of any exercise of the Amended Award shall be equal to one hundred percent (100%)&nbsp;of the product of (i)&nbsp;the number of Amended SARs
exercised multiplied by (ii)&nbsp;the excess of the Appreciation Price over the Exercise Price. It is understood that the Company may exercise its right to defer lump sum payments in accordance with Section&nbsp;6.10 of the Employment Agreement
entered into between the Company and the Grantee dated April&nbsp;16, 2008.<B> </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>9. Definitions. </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&#147;Change in Control</U>&#148; means the happening of any of the following: </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;When any &#147;person&#148;, as such term is used in Sections
13(d) and 14(d) of the Exchange Act (other than the Company, a subsidiary or a Company employee benefit plan, including any trustee of such plan acting as trustee, or any person or affiliate of such person who beneficially owns on the date of this
Amendment securities of the Company representing 50 percent or more of the combined voting power of the Company), is or becomes the &#147;beneficial owner&#148; (as such term is defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
of securities of the Company representing 50 percent or more of the combined voting power of the Company&#146;s then outstanding securities (provided, however, that for purposes of this paragraph, a Change in Control shall not result from the
transfer of securities of the Company by any individual (the &#147;Transferor&#148;) to any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law, or sister-in-law of the Grantee (including adoptive relationships) (&#147;Family Member&#148;), or to a trust in which the Transferor and his or her Family Members own more than 50 percent of the beneficial interests
or to an entity in which the Transferor and his or her Family Members own more than 50 percent of the combined voting power); or </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;The closing of the sale of all or substantially all of the assets of the Company or the merger of the Company with or into another corporation, in each case
resulting in a Change of Control; provided, however, that a sale of assets to or a merger with or into any person that beneficially owns on the date of this Amendment securities of the Company representing 50% or more of the total combined voting
power of the Company, or a sale of assets to or merger with or into any affiliate of such person, shall not constitute a Change in Control. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<U>Change in Control Price</U>&#148; means, as determined by the Board of Directors of the Company,
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;the highest Fair Market Value of a Share within the
60-day period immediately preceding the date of determination of the Change in Control Price by the Board (the &#147;60-Day Period&#148;), or </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;the highest price paid or offered per Share, as determined by the Board, in any bona fide transaction or bona fide offer related
to the Change in Control of the Company, at any time within the 60-Day Period, or </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;some lower price as the Board, in its discretion, determines to be a reasonable estimate of the fair market value of a Share. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><U>&#147;Exchange Act&#148;</U> refers to the Securities Exchange Act of 1934, as amended. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">&#147;<U>Fair Market Value</U>&#148; means, as of any date, the value of a Share determined as follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT
STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;If the Shares are listed on an established stock exchange or a national market system, including, without limitation, the American Stock Exchange or the National Market System of
the National Association of Securities Dealers, Inc. Automated Quotation (&#147;NASDAQ&#148;) System, the Fair Market Value of a Share shall be the closing sales price for such a share as quoted on such system or exchange (or the exchange with the
greatest volume of trading in Shares) on the last market trading day prior to the day of determination on which the Shares were traded, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;If the Shares are not quoted on the American Stock Exchange but
are quoted on the NASDAQ System (but not on the National Market System thereof) or are regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share shall be the mean between the high bid
and low asked prices for the Shares on the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the absence of an established market for the Shares, the Fair Market Value of a Share shall be determined in good faith by the Administrator based on the
most recent available valuation of an independent appraiser obtained by the Company. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&#147;Going-Private Transaction&#148;</U> means:
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;A &#147;Rule 13e-3 transaction&#148; as defined in
Rule 13e-3(a)(3) under the Exchange Act; or </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;The
Company (i)&nbsp;delists its Class&nbsp;A Voting Shares from the NYSE Amex, or any other national securities exchange upon which the Class&nbsp;A voting shares are then listed, or causes the Class&nbsp;A Voting Shares to cease to be authorized to be
quoted in an automated quotations system operated by a national securities association (ii)&nbsp;terminates its registration under Section&nbsp;12(g)(4) of the Exchange Act, and (iii)&nbsp;suspends its obligation to file reports pursuant to
Section&nbsp;15(d) of the Exchange Act. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>10. Administration</B>. The Administrator shall have the power to interpret this
Amendment and to adopt such rules for the administration, interpretation and application of the Amendment as are consistent herewith and to interpret or rescind any such rules. All actions taken and all interpretations and determinations made by the
Administrator shall be final and binding upon the Grantee, the Company and all other interested persons. No member of the Administrator shall be personally liable for any action, determination or interpretation made in good faith with respect to
this Amendment or any similar agreement to which the Company is a party. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>11. Amended Award Not Transferable</B>. Except as
otherwise provided in the Plan, the Amended Award, and any right under the Amended Award, shall be exercisable only by the Grantee during the Grantee&#146;s lifetime, or, if permissible under Applicable Law, by the Grantee&#146;s guardian or legal
representative, and no right under the Amended Award, may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee unless it is done by will or by the laws of descent and distribution and any such
purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Subsidiary; provided, that the designation of a beneficiary shall not constitute an assignment,
alienation, pledge, attachment, sale, transfer or encumbrance. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>12. Notices</B>. Any notice to be given under the terms of
this Amendment to the Company shall be addressed to the Company in care of its Secretary and any notice to be given to the Grantee shall be addressed to him at the address given beneath his signature below. By a notice given pursuant to this
Section&nbsp;12, either party may hereafter designate a different address for notices to be given to him. Any notice which is required to be given to the Grantee shall, if the Grantee is then deceased, be given to the Grantee&#146;s personal
representative if such representative has previously informed the Company of his status and address by written notice under this Section&nbsp;12. Any notice shall have been deemed duly given when enclosed in a properly sealed envelope addressed as
aforesaid, deposited (with postage prepaid) in a United States postal receptacle. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>13. Titles</B>. Titles are provided
herein for convenience only and are not to serve as a basis for interpretation or construction of this Amendment. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>14. Gross
Up Payments</B>. If the Grantee&#146;s liability for any applicable federal, state or local taxes with respect to the Amended Award is not equivalent to the tax liability that would have been imposed upon the Grantee if the Amended Award consisted
of the stock options described in Section&nbsp;5.1 of the amended employment agreement entered into between the Grantee and Mayors on June&nbsp;24, 2004 as amended on February&nbsp;1, 2005 (the &#147;2005 Employment Agreement&#148;), then the
Company shall pay to the Grantee the sum of any additional amount of federal, state and local taxes imposed upon the Grantee with respect to the Amended Award plus the amount of any federal, state and local tax liability imposed upon such
&#147;gross-up&#148; payment (such sum referred to as the &#147;Tax Gross Up Payment&#148;), such payment to be made within 15 days following receipt by the Company of relevant and sufficient documentation indicating that the Grantee has remitted
such additional taxes. The Tax Gross Up Payment is provided for in 2005
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
Employment Agreement and referred to in s. 5.5 of the employment agreement entered into between the Grantee and Mayors on August&nbsp;16, 2008, and is intended to place Grantee in the same
economic position he would have been in if in lieu of the Amended Award the Grantee received a grant of the stock options described in Section&nbsp;5.1 of the 2005 Employment Agreement. </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>15. Governing law</B>. The parties hereto agree that this Agreement shall be construed as to both validity and performance and shall be
enforced in accordance with and governed by the laws of the state of Florida. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>16. Other Terms</B>. Except as expressly
modified hereby, all terms and provisions of the Agreement and the Plan shall remain unchanged and in full force and effect. In the event of an inconsistency between the terms of this Amendment and the terms of the Agreement or the Plan, the terms
hereof shall control. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">IN WITNESS WHEREOF, this Amendment has been executed and delivered by the parties as of the
date first written above. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="88%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">BIRKS&nbsp;&amp; MAYORS INC.</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Shirley Dawe</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shirley Dawe</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chairperson of the</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Compensation Committee</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">GRANTEE</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Thomas A. Andruskevich</FONT></P> <P
STYLE="font-size:3px;margin-top:0px;margin-bottom:1px">&nbsp;</P></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Thomas A. Andruskevich</FONT></TD></TR></TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>BIRKS&nbsp;&amp; MAYORS INC. </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"
ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>AMENDMENT TO THE STOCK APPRECIATION RIGHTS AGREEMENT </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2">This Amendment to the Stock Appreciation Rights Agreement (the &#147;Amendment&#148;), effective as of March&nbsp;16, 2010 (the &#147;Effective Date&#148;) is made by and between Birks&nbsp;&amp; Mayors Inc., a Canadian corporation (the
&#147;Company&#148;), and Michael Rabinovitch (the &#147;Grantee&#148;). </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Background </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Mayor&#146;s Jewelers, Inc. (&#147;Mayors&#148;), the Company&#146;s wholly-owned subsidiary previously established the Mayor&#146;s
Jewelers, Inc. 2004 Long-Term Incentive Plan (the &#147;Plan&#148;). On August&nbsp;9, 2005, Mayors granted to the Grantee a Stock Appreciation Right with respect to 21,737 shares of common stock of Mayors (&#147;SARs&#148;) (the &#147;Award&#148;)
pursuant to the terms of the Plan and that certain stock appreciation rights agreement (the &#147;Agreement&#148;). The Company assumed the Agreement as of November&nbsp;15, 2005, and the shares subject to the Award were converted into the right to
receive Class&nbsp;A Voting Shares of the Company. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company and the Grantee wish to amend some of the terms of the Award.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This Amendment is entered into in accordance with the terms and conditions of the Plan, the terms of which are incorporated
herein by reference, and the Amendment shall in all respects be interpreted in accordance with the Plan. Any term used in the Amendment that is not otherwise defined in the Amendment shall have the meaning assigned to it by the Plan. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, receipt of which is
hereby acknowledged, the parties agree that the Award is hereby amended as follows (the &#147;Amended Award&#148;): </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1.</B>
<B>Number of SARs</B>. The number of shares of Class&nbsp;A Voting Shares of the Company subject to the Award is hereby decreased to 4,347 (the &#147;Amended SARs&#148;). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>2.</B> <B>Vesting and Exercisability.</B> The Amended SARs are fully vested and may be exercised by the Grantee as of the Effective Date. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>3.</B> <B>Exercise Price</B>. The exercise price at which the Amended SARs may be acquired upon exercise of the Amended Award shall be
US$1.00 per Class&nbsp;A Voting Share of the Company which is equal to the greater of US$1.00 and the closing sale price of the Company&#146;s Class&nbsp;A Voting Shares plus 7% on the last trading day prior to the date hereof (the &#147;Exercise
Price&#148;). </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>4.</B> <B>Appreciation Available</B>. Each Amended SAR shall entitle the Grantee to
receive one hundred percent (100%)&nbsp;of the excess of (i)&nbsp;the Fair Market Value of one share of the Class&nbsp;A Voting Shares of the Company on the date the Grantee exercises the Amended SAR (the &#147;Appreciation Price&#148;) over
(ii)&nbsp;the Exercise Price. The total appreciation available to the Grantee as a result of any exercise of the Amended SARs shall be equal to one hundred percent (100%)&nbsp;of the product of (i)&nbsp;the number of Amended SARs exercised
multiplied by (ii)&nbsp;the excess of the Appreciation Price over the Exercise Price. The payment of such amount shall be in cash, in Shares of Class&nbsp;A Voting Shares of the Company that have an aggregate Fair Market Value (as of the date of
exercise of the Amended SAR) equal to the amount of the payment, or in some combination thereof, as determined by the Administrator in its sole discretion. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>5.</B> <B>Duration of Amended Award</B>. Except as specified below, the Amended Award shall expire on March&nbsp;16, 2020. Notwithstanding the foregoing, the Amended Award may expire prior to
March&nbsp;16, 2020, in the following circumstances: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;(a) In the case of the Grantee&#146;s
termination of employment with the Company for any reason other than Disability, death, retirement or for Cause, the Amended Award shall expire on the two-year anniversary of the Grantee&#146;s Date of Termination. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;(b) In the case of the Grantee&#146;s termination of employment with the Company due to Disability, death or
retirement, the Amended Award shall expire on the date which is one (1)&nbsp;year after the Grantee&#146;s Date of Termination. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;(c) In the case of the Grantee&#146;s termination of employment with the Company for Cause, the Amended Award shall expire on the Grantee&#146;s Date of Termination. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes of this Section&nbsp;5, Cause shall be determined by the Administrator in its sole discretion. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>6.</B> <B>Dissolution or Liquidation</B>. In the event of the dissolution or liquidation of the Company, to the extent that the Amended
Award is outstanding on the date of such dissolution or liquidation, it will terminate immediately prior to the consummation of such dissolution or liquidation. Administrator may, in the exercise of its sole discretion in such instances, declare
that the Amended Award shall terminate as of a date fixed by the Administrator and give the Grantee the right to exercise the Amended Award as to all or any part of the Covered Stock. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>7.</B> <B>Change in Control</B>. In the event of a Change in Control, that is not a Going-Private Transaction, the Administrator, in the
exercise of its sole discretion, shall be entitled to take any of the following actions, or any other action that the Administrator in the exercise of its sole discretion determines to be fair to the Grantee: </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) prior to the occurrence of such a Change in Control, provide that all outstanding
Amended Awards upon the consummation of such a merger or sale shall be assumed by, or an equivalent option or right shall be substituted by, the successor corporation or a Parent or Subsidiary of the successor corporation; </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) prior to the occurrence of such a
Change in Control, provide that all outstanding Amended Awards, to the extent they are exercisable and vested, shall be terminated in exchange for a cash payment equal to the Change in Control Price reduced by the Exercise Price. These cash proceeds
shall be paid to the Grantee or, in the event of death of a Grantee prior to payment, to the estate of the Grantee or to a person who acquired the right to exercise the Amended Award by bequest or inheritance; or </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) prior to the occurrence of such a Change in Control, provide for Grantee to have the
right to exercise the Amended Award as to all or a portion of the Shares covered by the Amended Award. If the Administrator makes the Amended Award exercisable in lieu of assumption or substitution in the event of a Change of Control, the
Administrator shall notify Grantee that the Amended Award shall be fully exercisable for a period of 15 days from the date of such notice (or such shorter period of time as the Administrator determines to be reasonable in the exercise of its sole
discretion), and the Amended Award will terminate upon the expiration of such period. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>8. </B><B>Going-Private Transaction.
</B>In the event of the occurrence of a Going-Private Transaction, the Amended Award will remain outstanding after the consummation of such transaction and each outstanding Amended SAR shall be exercisable solely for a cash payment equal to the
excess of the Appreciation Price over the Exercise Price. The total appreciation available to the Grantee as a result of any exercise of the Amended Award shall be equal to one hundred percent (100%)&nbsp;of the product of (i)&nbsp;the number of
Amended SARs exercised multiplied by (ii)&nbsp;the excess of the Appreciation Price over the Exercise Price. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>9.
Definitions. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<U>Change in Control</U>&#148; means the happening of any of the following: </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When any &#147;person&#148;, as such term is used in
Sections 13(d) and 14(d) of the Exchange Act (other than the Company, a subsidiary or a Company employee benefit plan, including any trustee of such plan acting as trustee, or any person or affiliate of such person who beneficially owns on the date
of this Amendment securities of the Company representing 50 percent or more of the combined voting power of the Company), is or becomes the &#147;beneficial owner&#148; (as such term is defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities of the Company representing 50 percent or more of the combined voting power of the Company&#146;s then outstanding securities (provided, however, that for purposes of this paragraph , a Change in Control shall not result
from the transfer of securities of the Company by any individual (the &#147;Transferor&#148;) to any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law,
son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the Grantee (including adoptive relationships) (&#147;Family Member&#148;), or to a trust in which the Transferor and his or her Family Members own more than 50 percent of the
beneficial interests or to an entity in which the Transferor and his or her Family Members own more than 50 percent of the combined voting power); or </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
closing of the sale of all or substantially all of the assets of the Company or the merger of the Company with or into another corporation, in each case resulting in a Change of Control; provided, however, that a sale of assets to or a merger with
or into any person that beneficially owns on the date of this Amendment securities of the Company representing 50% or more of the total combined voting power of the Company, or a sale of assets to or merger with or into any affiliate of such person,
shall not constitute a Change in Control. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<U>Change in Control Price</U>&#148; means, as determined by the Board of Directors of the
Company, </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the highest Fair Market Value
of a Share within the 60-day period immediately preceding the date of determination of the Change in Control Price by the Board (the &#147;60-Day Period&#148;), or </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the highest price paid or offered per Share, as determined by the Board, in any bona fide transaction or bona fide
offer related to the Change in Control of the Company, at any time within the 60-Day Period, or </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT
STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;some lower price as the Board, in its discretion, determines to be a reasonable estimate of the fair market value of a Share. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<U>Exchange Act</U>&#148; refers to the Securities Exchange Act of 1934, as amended. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#147;<U>Fair Market Value</U>&#148; means, as of any date, the value of a Share determined as follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Shares are listed on an established stock exchange or a national market system, including, without limitation,
the American Stock Exchange or the National Market System of the National Association of Securities Dealers, Inc. Automated Quotation (&#147;NASDAQ&#148;) System, the Fair Market Value of a Share shall be the closing sales price for such a share as
quoted on such system or exchange (or the exchange with the greatest volume of trading in Shares) on the last market trading day prior to the day of determination on which the Shares were traded, as reported in The Wall Street Journal or such other
source as the Administrator deems reliable; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT
STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Shares are not quoted on the American Stock Exchange but are quoted on the NASDAQ System (but not on the National Market System thereof) or are regularly quoted
by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share shall be the mean between the high bid and low asked prices for the Shares on the last market trading day prior to the day of determination, as
reported in The Wall Street Journal or such other source as the Administrator deems reliable; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT
STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the absence of an established market for the Shares, the Fair Market Value of a Share shall be determined in good faith by the Administrator based on the most recent
available valuation of an independent appraiser obtained by the Company. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#147;<U>Going-Private Transaction</U>&#148; means: </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A &#147;Rule 13e-3 transaction&#148; as defined in
Rule 13e-3(a)(3) under the Exchange Act; or </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT
STYLE="FONT-FAMILY:WINGDINGS 2">&#151;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company (i)&nbsp;delists its Class&nbsp;A Voting Shares from the NYSE Amex, or any other national securities exchange upon which the Class&nbsp;A voting shares are
then listed, or causes the Class&nbsp;A Voting Shares to cease to be authorized to be quoted in an automated quotations system operated by a national securities association (ii)&nbsp;terminates its registration under Section&nbsp;12(g)(4) of the
Exchange Act, and (iii)&nbsp;suspends its obligation to file reports pursuant to Section&nbsp;15(d) of the Exchange Act. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>10. </B><B>Administration</B>. The Administrator shall have the power to interpret this Amendment and to adopt such rules for the administration, interpretation and application of the Amendment as are consistent herewith and to interpret
or rescind any such rules. All actions taken and all interpretations and determinations made by the Administrator shall be final and binding upon the Grantee, the Company and all other interested persons. No member of the Administrator shall be
personally liable for any action, determination or interpretation made in good faith with respect to this Amendment or any similar agreement to which the Company is a party. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>11.</B> <B>Amended Award Not Transferable</B>. Except as otherwise provided in the Plan, the Amended Award, and any right under the
Amended Award, shall be exercisable only by the Grantee during the Grantee&#146;s lifetime, or, if permissible under Applicable Law, by the Grantee&#146;s guardian or legal representative, and no right under the Amended Award, may be assigned,
alienated, pledged, attached, sold or otherwise transferred to encumbered by the Grantee otherwise than by will or by the laws of descent and distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer or
encumbrance shall be void and unenforceable against the Company or any Subsidiary; provided, that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>12.</B> <B>Notices</B>. Any notice to be given under the terms of this Amendment to the Company shall be addressed to the Company in care
of its Secretary and any notice to be given to the Grantee shall be addressed to him at the address given beneath his signature below. By a notice given pursuant to this Section&nbsp;12, either party may hereafter designate a different address for
notices to be given to him. Any notice which is required to be given to the Grantee shall, if the Grantee is then deceased, be given to the Grantee&#146;s personal representative if such representative has previously informed the Company of his
status and address by written notice under this Section&nbsp;12. Any notice shall have been deemed duly given when enclosed in a properly sealed envelope addressed as aforesaid, deposited (with postage prepaid) in a United States postal receptacle.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>13.</B><B>Titles</B>. Titles are provided herein for convenience only and are not to serve as a basis for interpretation
or construction of this Amendment. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>14.</B> <B>Other Terms</B>. Except as expressly modified hereby, all terms and provisions
of the Agreement and the Plan shall remain unchanged and in full force and effect. In the event of an inconsistency between the terms of this Amendment and the terms of the Agreement or the Plan, the terms hereof shall control. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">IN WITNESS WHEREOF, this Amendment has been executed and delivered by the parties as of the
date first written above. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">BIRKS&nbsp;&amp; MAYORS INC.</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Thomas Andruskevich</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Thomas Andruskevich</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">President and CEO</FONT></TD></TR></TABLE></DIV> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="99%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">GRANTEE</FONT></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Michael Rabinovitch</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Michael Rabinovitch</FONT></TD></TR></TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>

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