EXPLANATORY NOTE:
1.
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RESIGNATION OF OFFICER
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Birks Group Inc. (the Company) accepted the resignation of Mr. Pasquale (Pat) Di Lillo, who
resigned from his position as Vice President and Chief Financial Officer to pursue personal interests, effective January 17, 2020. Mr. Di Lillo will receive certain compensation and benefits provided under his employment agreement, which
is described in the Companys Management Proxy Circular on Form 6-K filed on with the Securities and Exchange Commission on August 14, 2019.
2.
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APPOINTMENT OF VICE PRESIDENT
AND CHIEF FINANCIAL OFFICER
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On
December 18, 2019, the Company entered into an employment agreement (the Agreement) with Ms. Katia Fontana. Effective January 13, 2020, Ms. Fontana will assume the role of the Companys Vice President and Chief
Financial Officer.
Ms. Fontana is a Chartered Professional Accountant, CA and has over 25 years of experience in finance and
accounting, 14 years of which were spent in the retail industry. She was recently Chief Financial Officer at Avenir Global, a holding company for communications and public relations firms. Prior thereto, she was with Groupe Dynamite Inc., an apparel
retailer, from 2004 to 2018 in various positions, including Chief Financial Officer, Vice President, Finance and Administration and Director, Finance and prior thereto she was at Deloitte Touche Tohmatsu, one of the Big 4 public accounting firms
from 1993 to 2004. She holds a Bachelor of Business Administration from University of Québec at Montreal and a Chartered Professional Accountant Designation from lOrdre des comptables professionnels agréés du
Québec.
The Agreement provides Ms. Fontana with a base salary of CDN$300,000, a target annual cash bonus of 40% of her
annual base salary for fiscal year 2021 and thereafter and other health and retirement contribution benefits. In the event that Ms. Fontana is terminated without cause or resigns for good reason, as these terms are
defined in the Agreement, the Agreement provides that Ms. Fontana will receive (i) any earned and accrued but unpaid base salary, (ii) up to six months of salary continuation in lieu of further salary or severance payments, which may
be increased by one additional month after two years of service for each additional year of service thereafter up to a maximum of twelve months after eight years of service, (iii) certain health benefits for the period that the severance will
be payable in (ii), and (iv) and an average annual bonus payable over the period that the severance will be payable in (ii). Ms. Fontana is prohibited from competing with the Company during her employment and for a period of twelve months
thereafter.
In addition, there are no family relationships between Ms. Fontana and any director or other executive officer of the
Company and there are no related party transactions between the Company and Ms. Fontana.
CONTENTS:
The following document of the Registrant is submitted herewith:
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99.1
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Press Release dated December 19, 2019.
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