X0303 4 2010-02-08 0 0000109156 ZALE CORP ZLC 0001438180 Braverman Yuval C/O ZALE CORPORATION 901 WEST WALNUT HILL LANE IRVING TX 75038 1 0 0 0 Common Stock 2650 D Stock options (right to buy) 3.75 2010-02-08 4 A 0 5000 3.75 A 2011-02-08 2020-02-08 Common Stock 5000 5000 D Restricted Stock Units 0 2009-11-18 Common Stock 4902 4902 D Stock Options (right to buy) 21.48 2009-06-19 2018-06-19 Common Stock 1583 1583 D Granted under the Zale Corporation Non-Employee Director Equity Compensation Plan, as amended (the "Plan") and vests on 2/8/2011. Restricted stock units granted under the Plan that vested on November 18, 2009. The holder will be entitled to receive one share of common stock for each unit, unless the Board of Directors determines that payment shall be made in cash. The holder has elected to defer delivery of any shares that would be due by virtue of vesting until the date that is six months following his separation from service with the Company. Hilary Molay, by power of attorney 2010-02-10