Exhibit 10.1
SEPARATION AGREEMENT AND GENERAL
RELEASE
THIS SEPARATION AGREEMENT AND
GENERAL RELEASE (the “ Agreement ”) dated
January 5, 2007 (the “ Agreement ”), is made and
entered into by and between Barry Erdos (“ Erdos
”) and Build-A-Bear Workshop, Inc., a Delaware corporation
(“ Company ”). Erdos and the Company are
hereinafter sometimes collectively referred to as the “
Parties ”.
WHEREAS, Erdos’ employment
with the Company will be terminated effective as of the date of
this Agreement (“ Separation Date ”);
and
WHEREAS, the Parties desire to enter
into full and final settlement of all matters between them,
including, but not limited to, any issues or disputes (known or
unknown) that might arise out of or relate to Erdos’
employment with, or termination of employment from, the
Company;
NOW, THEREFORE, for and in
consideration of the mutual releases, covenants and undertakings
hereinafter set forth, and for other good and valuable
consideration, the legal sufficiency of which each party hereby
acknowledges, it is agreed as follows:
1.
Separation .
Erdos’ employment with the
Company shall cease effective on the Separation Date. As of that
date, neither the Company nor any of its parent companies,
affiliate companies, subsidiary companies, or their respective
directors, shareholders, attorneys, agents, officers, employees,
successors or assigns (together, “ Releasees ”)
shall have any further obligation to Erdos for compensation or
otherwise except as expressly set forth in this
Agreement.
2.
Mutual Releases .
(a) Upon
the effectiveness of this Agreement, the Parties, on behalf of
themselves and all of their respective current and/or former
investors, partners, general partners, joint venturers, limited
partners, shareholders, owners, officers, directors, employees,
managers, agents, insurers, parents, subsidiaries, affiliates,
predecessors, successors, successors-in-interest, assignees,
corporations, partnerships, heirs, executors, and administrators,
for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, and intending to be legally bound,
fully and forever releases, acquits, disclaims, remises, waives,
relinquishes, and discharges each other, and each of the
Parties’ respective current and/or former creditors,
investors, partners, present and former general partners, present
and former limited partners, present and former shareholders
