-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VWSWhMQ9gDPDPK+geTQZTyUKPN+bBT6U61XPCjU1FWFa2R/sb3BeoSiP0e4cmuCj pWssWCgs+piGcbn2Jv9kFA== 0001104659-10-034621.txt : 20100618 0001104659-10-034621.hdr.sgml : 20100618 20100618171701 ACCESSION NUMBER: 0001104659-10-034621 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100615 ITEM INFORMATION: Termination of a Material Definitive Agreement FILED AS OF DATE: 20100618 DATE AS OF CHANGE: 20100618 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ZALE CORP CENTRAL INDEX KEY: 0000109156 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-JEWELRY STORES [5944] IRS NUMBER: 750675400 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04129 FILM NUMBER: 10906520 BUSINESS ADDRESS: STREET 1: 901 W WALNUT HILL LN STREET 2: MS 6B-3 CITY: IRVING STATE: TX ZIP: 75038 BUSINESS PHONE: 9725804000 MAIL ADDRESS: STREET 1: 901 WEST WALNUT HILL LANE STREET 2: MAIL STOP 6B-3 CITY: IRVING STATE: TX ZIP: 75038-1003 FORMER COMPANY: FORMER CONFORMED NAME: ZALE JEWELRY CO INC DATE OF NAME CHANGE: 19710510 8-K 1 a10-12280_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

Current Report

 

Dated June 15, 2010

 

of

 

ZALE CORPORATION

 

A Delaware Corporation

IRS Employer Identification No. 75-0675400

SEC File Number 001-04129

 

901 West Walnut Hill Lane

Irving, Texas  75038

(972) 580-4000

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Securities Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Securities Act (17 CFR 240.13e-4(c))

 

 

 


 

Item 1.02       Termination of Material Definitive Agreement.

 

Zale Corporation (the “Company”) previously announced that Citibank (South Dakota), N.A. (“Citibank”) had provided notice that it would terminate the Merchant Services Agreement dated as of July 10, 2000 (the “Agreement”) between Citibank and two of the Company’s wholly-owned subsidiaries, unless on or before April 1, 2010, the Company paid Citibank for a shortfall to the minimum volume of credit sales (the “Minimum Volume Shortfall”) as set forth in the Agreement.  Citibank and the Company subsequently agreed to extend to June 15, 2010, the April 1, 2010 payment deadline.  On June 15, 2010, the Company paid Citibank $5,363,999 as compensation for that Minimum Volume Shortfall.  In addition, effective June 16, 2010, the agreement between Citibank and the Company to negotiate a replacement for the Agreement on an exclusive basis expired.  However, the Company and Citibank are continuing negotiations on a non-exclusive basis.

 

On June 16, 2010, Citibank notified the Company that it would terminate the Agreement in 180 days, unless the Company pays Citibank approximately $1,125,000 on or before July 16, 2010 for a subsequent Minimum Volume Shortfall as set forth in the Agreement.  If the Company makes this payment, the Agreement will remain in effect until its original March 2011 expiration date, subject to the provision that would entitle the parties to terminate it prior to that time.

 

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SIGNATURES

 

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 hereunto duly authorized.

 

 

 

ZALE CORPORATION

 

 

 

 

By:

/s/ Matthew W. Appel

 

 

Matthew W. Appel

 

 

Executive Vice President and

 

 

Chief Financial Officer

 

 

 

Date: June 18, 2010

 

 

 

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