|
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
|
