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Beryl Raff CEO, Whitehall to get Employment Inducement Award

13
Aug '05

Nation's specialty jewelry headquarter Whitehall Jewellers Inc announced earlier that Beryl Raff has been named Chief Executive Officer. Raff will also join the Company's Board of Directors.

Beryl Raff, the new Chief Executive Officer of the Company, has been granted an employment inducement award of options to purchase 325,000 shares of common stock of the Company. The award will vest in three equal annual installments commencing August 10, 2006, with a strike price of $6.63. Any unvested portion of the award will be forfeited upon the termination of Raff's employment with the Company, except if she terminates Raff's employment under certain circumstances specified in her employment agreement or if there is change of control of the Company, in which case the option will vest in full. In addition, if the Company for cause terminates Raff's employment, the award will be forfeited upon termination.

Chicago based fine jewelry retailer Whitehall Jewellers Inc is operating 388 stores in 38 states. The Company operates stores in regional and super regional shopping malls under the names Whitehall Co. Jewellers, Lundstrom Jewelers and Marks Bros. Jewelers.

Whitehall Jewellers Inc

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