Document:

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                                                                  EXHIBIT 10.3.4

                  EMPLOYEE NONQUALIFIED STOCK OPTION AGREEMENT
                                    UNDER THE
              BUILD-A-BEAR WORKSHOP, INC. 2004 STOCK INCENTIVE PLAN

                  THIS AGREEMENT, made this _______ day of __________, _____, by
and between Build-A-Bear Workshop, Inc., a Delaware corporation ("Company"), and
____________ ("Optionee"),

                  WITNESSETH THAT:

                  WHEREAS, the Board of Directors of the Company ("Board of
Directors") has adopted the Build-A-Bear Workshop, Inc. 2004 Stock Incentive
Plan (the "Plan") pursuant to which options covering an aggregate of 2,700,000
shares of the Common Stock of the Company may be granted to employees and
directors of the Company, a parent or subsidiary, as such terms are defined in
the Plan; and

                  WHEREAS, Optionee is now an employee of the Company, a parent
or a subsidiary; and

                  WHEREAS, the Company desires to grant to Optionee certain
nonqualified options to purchase certain shares of its stock under the terms of
the Plan;

                  NOW, THEREFORE, in consideration of the premises and of the
mutual agreements hereinafter set forth, it is covenanted and agreed as follows:

                  1.       Grant Subject to Plan. This option is granted under
and is expressly subject to all the terms and provisions of the Plan, and the
terms of such Plan are incorporated herein by reference. Optionee hereby
acknowledges receipt of a copy of the Plan and agrees to be bound by all the
terms and provisions thereof. Terms not defined herein shall have the meaning
ascribed thereto in the Plan. The Committee referred to in Section 4 of the Plan
("Committee") has been appointed by the Board of Directors, and designated by
it, as the Committee to make grants of options.

                  2.       Grant and Terms of Option. Pursuant to action of the
Committee, [which action was taken on ____________, _____ ("Date of Grant"),]
[OR] [effective as of the date the Securities and Exchange Commission declares
the Company's registration statement filed with respect to the initial public
offering of the Common Stock effective ("Date of Grant"),]1/ the Company grants
to Optionee the option to purchase all or any part of _____________ (__________)
shares of the Common Stock of the Company, of the par value of $____ per share
("Common Stock"), for a period of ten (10) years from the Date of Grant, at a
purchase price per share equal to the initial price to the public as set forth
in the final prospectus included in the registration statement filed with the
Securities and Exchange Commission for the initial public offering of

--------
1/   [If this alternative is selected most of Section 4 can be deleted.]

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the Common Stock; provided, however, that the right to exercise such option
shall be, and is hereby, restricted as follows:

                           (a)      No shares may be purchased prior to
         __________, _____; that at any time during the term of this option on
         or after __________, _____, Optionee may purchase up to 25% of the
         total number of shares to which this option relates; that at any time
         during the term of this option on or after __________, _____, Optionee
         may purchase up to an additional 25% of the total number of shares to
         which this option relates; that at any time during the term of this
         option on or after __________, _____, Optionee may purchase up to an
         additional 25% of the total number of shares to which this option
         relates; and that at any time on or after __________, _____, Optionee
         may purchase up to an additional 25% of the total number of shares to
         which this option relates; so that on or after __________, _____,
         during the term hereof, Optionee will have become entitled to purchase
         the entire number of shares to which this option relates.

                           (b)      Notwithstanding the foregoing, in the event
         of a Change of Control Optionee may purchase 100% of the total number
         of shares to which this option relates. For purposes of this Agreement,
         a Change in Control means:

                                    (1)      The purchase or other acquisition
                  (other than from the Company) by any person, entity or group
                  of persons, within the meaning of Section 13(d) or 14(d) of
                  the Securities Exchange Act of 1934, as amended (the "Exchange
                  Act") (excluding, for this purpose, the Company or its
                  subsidiaries or any employee benefit plan of the Company or
                  its subsidiaries), of beneficial ownership (within the meaning
                  of Rule 13d-3 promulgated under the Exchange Act) of 20% or
                  more of either the then-outstanding shares of common stock of
                  the Company or the combined voting power of the Company's
                  then-outstanding voting securities entitled to vote generally
                  in the election of directors; or

                                    (2)      Individuals who, as of the date
                  hereof, constitute the Board of Directors of the Company (the
                  "Board" and, as of the date hereof, the "Incumbent Board")
                  cease for any reason to constitute at least a majority of the
                  Board, provided that any person who becomes a director
                  subsequent to the date hereof whose election, or nomination
                  for election by the Company's shareholders, was approved by a
                  vote of at least a majority of the directors then comprising
                  the Incumbent Board (other than an individual whose initial
                  assumption of office is in connection with an actual or
                  threatened election contest relating to the election of
                  directors of the Company, as such terms are used in Rule
                  14a-11 of Regulation 14A promulgated under the Exchange Act)
                  shall be, for purposes of this section, considered as though
                  such person were a member of the Incumbent Board; or

                                    (3)      Approval by the stockholders of the
                  Company of a reorganization, merger or consolidation, in each
                  case with respect to which persons who were the stockholders
                  of the Company immediately prior to such reorganization,
                  merger or consolidation do not, immediately thereafter, own
                  more

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                  than 50% of, respectively, the common stock and the combined
                  voting power entitled to vote generally in the election of
                  directors of the reorganized, merged or consolidated
                  corporation's then-outstanding voting securities, or of a
                  liquidation or dissolution of the Company or of the sale of
                  all or substantially all of the assets of the Company.

                           (c)      In no event may this option or any part
         thereof be exercised after the expiration of ten (10) years from the
         Date of Grant.

                           (d)      The purchase price of the shares subject to
         the option may be paid for (i) in cash, (ii) in the discretion of the
         Committee, by tender of shares of Common Stock already owned by
         Optionee, or (iii) in the discretion of the Committee, by a combination
         of methods of payment specified in clauses (i) and (ii), all in
         accordance with Section 6 of the Plan. Notwithstanding the preceding
         sentence, Optionee may request that the Committee agree that payment in
         full of the option price need not accompany the written notice of
         exercise; provided that, the notice of exercise directs that the
         certificate or certificates for the shares of Common Stock for which
         the option is exercised be delivered to a licensed broker acceptable to
         the Committee as the agent for Optionee and, at the time such
         certificate or certificates are delivered, the broker tenders to the
         Committee cash (or cash equivalents acceptable to the Committee) equal
         to the option price for the shares of Common Stock purchased pursuant
         to the exercise of the option plus the amount (if any) of any
         withholding obligations on the part of the Company. Such request may be
         granted or denied in the sole discretion of the Committee.

                           (e)      No shares of Common Stock may be tendered in
         exercise of this option if such shares were acquired by Optionee
         through the exercise of an Incentive Stock Option (within the meaning
         of Section 422 of the Internal Revenue Code of 1986, as amended),
         unless (i) such shares have been held by Optionee for at least one
         year, and (ii) at least two years have elapsed since such Incentive
         Stock Option was granted.

                           (f)      The Optionee shall not participate in or be
         a party to the Stockholders' Agreement.

                  3.       Anti-Dilution Provisions. In the event that, during
the term of this Agreement, there is any change in the number of shares of
outstanding Common Stock of the Company by reason of stock dividends,
recapitalizations, mergers, consolidations, split-ups, combinations or exchanges
of shares and the like, the number of shares covered by this option agreement
and the price thereof shall be adjusted, to the same proportionate number of
shares and price as in this original agreement.

                  4.       Investment Purpose and Other Restrictions on
Transfer. Optionee represents that, in the event of the exercise by Optionee of
the option hereby granted, or any part thereof, he or she intends to purchase
the shares acquired on such exercise for investment and not with a view to
resale or other distribution; except that the Company, at its election, may
waive or release this condition in the event the shares acquired on exercise of
the option are registered

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under the Securities Act of 1933, or upon the happening of any other contingency
which the Company shall determine warrants the waiver or release of this
condition. Optionee agrees that the certificates evidencing the shares acquired
by him or her on exercise of all or any part of this option, may bear a
restrictive legend, if appropriate, indicating that the shares have not been
registered under said Act and are subject to restrictions on the transfer
thereof, which legend may be in the following form (or such other form as the
Company shall determine to be proper), to-wit:

                  "The shares represented by this certificate have not been
                  registered under the Securities Act of 1933, but have been
                  issued or transferred to the registered owner pursuant to the
                  exemption afforded by Section 4(2) of said Act. No transfer or
                  assignment of these shares by the registered owner shall be
                  valid or effective, and the issuer of these shares shall not
                  be required to give any effect to any transfer or attempted
                  transfer of these shares, including without limitation, a
                  transfer by operation of law, unless (a) the issuer shall have
                  received an opinion of its counsel that the shares may be
                  transferred without requirement of registration under said
                  Act, or (b) there shall have been delivered to the issuer a
                  'no-action' letter from the staff of the Securities and
                  Exchange Commission, or (c) the shares are registered under
                  said Act."

                  In addition to the restrictions described above, Optionee may
not sell, pledge, transfer, donate, assign or otherwise dispose of
(collectively, "transfer"), whether voluntarily or by operation of law, any
shares of Common Stock acquired pursuant to the exercise of an option under this
Agreement except as provided in this Section 4.

                           (a)      Right of First Refusal.

                                    (1)      If the Optionee intends to transfer
                  any shares of Common Stock pursuant to a bona fide purchase
                  offer of an offeror ("Offeror"), the Optionee shall deliver to
                  the Company a written notice (the "Notice") of such intention
                  to transfer such shares, setting forth in reasonable detail:
                  (i) the proposed price, (ii) the number of shares proposed to
                  be transferred, (iii) the other terms and conditions of the
                  proposed transfer of such shares, (iv) an offer to sell the
                  shares to the Company as provided herein and (v) the identity
                  of the Offeror. The shares proposed to be transferred are
                  hereinafter referred to as the "Offered Shares."

                                    (2)      The Company may elect to purchase
                  all (but not less than all) of the Offered Shares at any time
                  during the thirty (30) day period following its receipt of the
                  Notice. The Company shall be entitled to purchase the Offered
                  Shares from the Optionee at the same price and on the same
                  terms and conditions as those pursuant to which the Optionee
                  proposes to transfer the Offered Shares, as described in the
                  Notice. If the Company fails to respond to such offer within
                  the 30-day period, it shall be deemed to have rejected the
                  offer.

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                                    (3)      Unless the Optionee and the Company
                  otherwise agree, the closing of the purchase of the Offered
                  Shares shall take place at the principal offices of the
                  Company at 10:00 a.m. on the tenth day (or if such day is not
                  a business day on the next business day) after the expiration
                  of the 30-day period. At the closing, the Optionee shall
                  tender the Offered Shares, together with appropriate
                  instruments of transfer endorsed to the Company, and the
                  Company shall tender a certified check, cashier's check or a
                  wire transfer of immediately available funds in the amount of
                  the purchase price therefor.

                                    (4)      If the Offered Shares are not
                  purchased by the Company pursuant to this Section 4, the
                  Optionee shall be entitled to sell all of the Offered Shares
                  to the Offeror at the price and on the terms and conditions
                  specified in the Notice, provided that such sale is
                  consummated within one-hundred twenty (120) days from the date
                  the Notice is delivered to the Company. For any sale of shares
                  after such one-hundred twenty (120) day period, the Optionee
                  shall give a new notice which shall reinstate the rights of
                  the Company set forth in this Section 4 to purchase the
                  Offered Shares.

                           (b)      Take-Along Rights. If an offeror desires to
         purchase all of the outstanding shares of Common Stock and if the
         owners of at least 50% of the outstanding shares desire to make such
         sale, the Optionee agrees to sell all of his or her shares to such
         offeror on the terms and conditions approved by the owners of at least
         50% of the outstanding shares.

                           (c)      Effect of Prohibited Transfer. If any
         transfer of shares is made or attempted by an Optionee other than in
         accordance with the terms of this Agreement, the Company may refuse for
         any purpose to recognize any transferee who receives shares and any
         such transferee shall have no right to claim or retain any dividends on
         such shares which were paid or become payable subsequent to the date on
         which the prohibited transfer was made or attempted. In addition to any
         other legal or equitable rights that it may have, the Company may
         enforce its rights by specific performance to the extent permitted by
         law.

                           (d)      Buy-Back Rights. If the Optionee terminates
         employment for any reason, the Optionee must, upon request by the
         Committee, sell his or her shares of Common Stock to the Company at a
         price equal to the Fair Market Value of such shares of Common Stock on
         the date of such sale. The Company shall exercise the buy-back right
         with respect to the Optionee no later than twelve (12) months after the
         date the Optionee terminates employment.

                           (e)      Exceptions to Transfer Restrictions.
         Notwithstanding anything to the contrary in this Agreement, the
         restrictions upon transfer set forth in this Section 4 shall not apply
         to a transfer of shares of Common Stock by an Optionee to any of (i)
         the Optionee's heirs, executors, administrators or other personal
         representative upon death of the Optionee or (ii) the Optionee's
         spouse, children or grandchildren, or a trust for their or

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         the Optionee's benefit; provided that, the restrictions on transfer in
         this Section 4 shall continue to apply to the shares received by any
         such permitted transferee, including without limitation that such
         permitted transferee shall not again transfer such shares except in
         accordance with this Section 4.

         (f)      Termination of Transfer Restrictions. The restrictions
         described in Sections 4(a) through 4(e) shall terminate on the earlier
         of a Public Offering of shares of Common Stock or mutual agreement of
         the parties to this Agreement.

                  5.       Non-Transferability. Neither the option hereby
granted nor any rights thereunder or under this Agreement may be assigned,
transferred or in any manner encumbered except by will or the laws of descent
and distribution, and any attempted assignment, transfer, mortgage, pledge or
encumbrance except as herein authorized, shall be void and of no effect. The
option may be exercised during Optionee's lifetime only by Optionee or his or
her guardian or legal representative.

                  6.       Termination of Employment. In the event of the
termination of employment of Optionee other than by death, the option granted
may no longer be exercised on or after the date of such termination. If the
Optionee's employment is terminated other than for cause, the determination of
which shall be made in the sole discretion of the Committee, the option may be
exercised, to the extent it was eligible for exercise at the date of such
termination of employment, at any time within three (3) months after such
termination, but not after ten (10) years from the Date of Grant.

                  7.       Death of Optionee. In the event of the death of
Optionee during the term of this Agreement and while he or she is employed by
the Company (or its parent or a subsidiary) or within three (3) months after the
termination of his or her employment, this option shall become fully vested (if
not already fully vested) and may be exercised by a legatee or legatees of
Optionee under his or her last will, or by his or her personal representatives
or distributees, at any time within a period of one year after his or her death,
but not after ten (10) years from the Date of Grant, and only if he or she was
entitled to exercise the option at the date of his or her death.

                  8.       Shares Issued on Exercise of Option. It is the
intention of the Company that on any exercise of this option it will transfer to
Optionee shares of its authorized but unissued stock or transfer Treasury
shares, or utilize any combination of Treasury shares and authorized but
unissued shares, to satisfy its obligations to deliver shares on any exercise
hereof.

                  9.       Committee Administration. This option has been
granted pursuant to a determination made by the Committee, and such Committee or
any successor or substitute committee authorized by the Board of Directors or
the Board of Directors itself, subject to the express terms of this option,
shall have plenary authority to interpret any provision of this option and to
make any determinations necessary or advisable for the administration of this
option and the exercise of the rights herein granted, and may waive or amend any
provisions hereof in any manner not adversely affecting the rights granted to
Optionee by the express terms hereof.

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                  10.      Option Not an Incentive Stock Option. It is intended
that this option shall not be treated as an incentive stock option under Section
422 of the Internal Revenue Code of 1986, as amended.

                  11.      No Contract of Employment. Nothing contained in this
Agreement shall be considered or construed as creating a contract of employment
for any specified period of time.

                  12.      Severability. Any word, phrase, clause, sentence or
other provision herein which violates or is prohibited by any applicable law,
court decree or public policy shall be modified as necessary to avoid the
violation or prohibition and so as to make this Agreement enforceable as fully
as possible under applicable law, and if such cannot be so modified, the same
shall be ineffective to the extent of such violation or prohibition without
invalidating or affecting the remaining provisions herein.

                  13.      Non-Waiver of Rights. The Company's failure to
enforce at any time any of the provisions of this agreement or to require at any
time performance by Optionee of any of the provisions hereof shall in no way be
construed to be a waiver of such provisions or to affect either the validity of
this agreement, or any part hereof, or the right of the Company thereafter to
enforce each and every provision in accordance with the terms of this agreement.

                  14.      Entire Agreement; Amendments. No modification,
amendment or waiver of any of the provisions of this agreement shall be
effective unless in writing specifically referring hereto, and signed by the
parties hereto. This agreement supersedes all prior agreements and
understandings between Optionee and the Company to the extent that any such
agreements or understandings conflict with the terms of this agreement.

                  15.      Assignment. This agreement shall be freely assignable
by the Company to and shall inure to the benefit of, and be binding upon, the
Company, its successors and assigns and/or any other entity which shall succeed
to the business presently being conducted by the Company.

                  16.      Choice of Forum and Governing Law. In light of the
Company's substantial contacts with the State of Missouri, the parties'
interests in ensuring that disputes regarding the interpretation, validity and
enforceability of this agreement are resolved on a uniform basis, and the
Company's execution of, and the making of, this agreement in Missouri, the
parties agree that: (i) any litigation, validity and/or enforceability of the
agreement, shall be filed and conducted exclusively in the state or federal
courts in St. Louis County, Missouri; and (ii) the agreement shall be
interpreted in accordance with and governed by the laws of the State of
Delaware, without regard for any conflict of law principles.

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                  IN WITNESS WHEREOF, the Company has caused this Agreement to
be executed on its behalf by the undersigned officer pursuant to due
authorization, and Optionee has signed this Agreement to evidence his or her
acceptance of the option herein granted and of the terms hereof, all as of the
date hereof.

                                    BUILD-A-BEAR WORKSHOP, INC.

                                    By
                                       ----------------------------------------
ATTEST:

------------------------------
Secretary
                                    -------------------------------------------
                                    Optionee

                                       8<PAGE>
                                                                  EXHIBIT 10.3.5

                           BUILD-A-BEAR WORKSHOP, INC.
                           RESTRICTED STOCK AGREEMENT

                  THIS AGREEMENT, made as of the ____ day of __________, ____ by
and between Build-A-Bear Workshop, Inc., a Delaware corporation (hereinafter
called the "Company"), and _________________________________ (hereinafter called
the "Director");

                  WITNESSETH THAT:

                  WHEREAS, the Board of Directors of the Company ("Board of
Directors") desires to benefit Build-A-Bear Workshop, Inc. ("Company") by
increasing motivation on the part of ________________________, an outside
director of the Company ("Director"), who is materially important to the
Company, by creating an incentive to remain as an outside director of the
Company and to work to the very best of the Director's abilities; and

                  WHEREAS, to further this purpose, the Company desires to make
a restricted stock award to the Director for ________________ (__________)
shares under the terms of the Build-A-Bear Workshop, Inc. 2004 Stock Incentive
Plan ("Plan"):

                  NOW, THEREFORE, in consideration of the premises, and of the
mutual agreements hereinafter set forth, it is covenanted and agreed as follows:

                  1.       Terms of Award. Pursuant to action of the Committee
(as defined in Section 5 of the Plan), which action was taken on ______________,
200_ ("Date of Award"), the Company awards to the Director _________________
(_________) shares of the common stock of the Company, of the par value of $0.01
per share ("Common Stock"); provided, however, that the shares hereby awarded
are nontransferable by the Director during the period described below and are
subject to the risk of forfeiture described below. Prior to the time shares
become transferable, the shares of Restricted Stock shall bear a legend
indicating their nontransferability, and, if the Director terminates service as
an outside director of the Company prior to the time a restriction lapses, the
Director shall forfeit any shares of Restricted Stock which are still subject to
the restrictions at the time of termination of such service.

                  On the date ending six (6) months after the Date of Award, one
hundred percent (100%) of the shares of Restricted Stock shall become
transferable by the Director if the Director is still an outside director, and
has been continuously serving as such a director during such six (6)-month
period, of the Company on such date. If on the date ending six (6) months after
the Date of Award, the Director is not serving as an outside director of the
Company, all of the shares of Restricted Stock shall be forfeited by the
Director.

                  Notwithstanding the foregoing, in the event of a Change of
Control (as defined in the Plan), all previously granted shares of Restricted
Stock not yet free of the restrictions of this Section 1 shall become
immediately free of such restrictions.

<PAGE>

                  2.       Death of the Director. In the event of the death of
the Director, all previously granted shares of Restricted Stock not yet free of
the restrictions of Section 1 shall become immediately free of such
restrictions.

                  3.       Cost of Restricted Stock. The purchase price of the
shares of Restricted Stock shall be the Fair Market Value (as described in the
Plan) of such shares determined as of the Date of Award.

                  4.       Adjustments Upon Changes in Capitalization or
Corporate Acquisitions. Notwithstanding any other provision in the Agreement, if
there is any change in the Common Stock by reason of stock dividends, spin-offs,
split ups, recapitalizations, mergers, consolidations, reorganizations,
combinations or exchanges of shares, the number of shares of Common Stock under
this award of Restricted Stock not yet vested, and the price thereof, as
applicable, shall be appropriately adjusted by the Committee.

                  5.       No Right to Continued Service. Nothing in this
Agreement shall be deemed to create any limitation or restriction on such rights
as the Company otherwise would have to terminate the service of the Director.

                  6.       Committee Administration. This award has been made
pursuant to a determination made by the Committee, and the Committee or any
successor or substitute committee authorized by the Board of Directors or the
Board of Directors itself, subject to the express terms of this Agreement, shall
have plenary authority to interpret any provision of this Agreement and to make
any determinations necessary or advisable for the administration of this
Agreement and may waive or amend any provisions hereof in any manner not
adversely affecting the rights granted to the Director by the express terms
hereof.

                  7.       Grant Subject to Plan. This award of Restricted Stock
is granted under and is expressly subject to all the terms and provisions of the
Plan, and the terms of the Plan are incorporated herein by reference. The
Director hereby acknowledges receipt of a copy of the Plan and agrees to be
bound by all the terms and provisions thereof. Terms not defined herein shall
have the meaning ascribed thereto in the Plan. The Committee referred to in
Section 5 of the Plan and in this Agreement has been appointed by the Board of
Directors and designated by it, as the Committee to make grants of restricted
stock.

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                  IN WITNESS WHEREOF, the Company has caused this Agreement to
be executed on its behalf, and the Director has signed this Agreement to
evidence the Director's acceptance of the terms hereof, all as of the date first
above written.

                                    BUILD-A-BEAR WORKSHOP, INC.

                                    By:
                                       ----------------------------------------

                                    DIRECTOR

                                    -------------------------------------------
                                    Name:

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