Document:

<PAGE>
                                                                   EXHIBIT 10.24

                      REPAYMENT AND STOCK PLEDGE AGREEMENT

          This Repayment and Stock Pledge Agreement (this "Agreement or "Pledge
Agreement") is made as of September 19, 2001 between Build-A-Bear Workshop,
Inc., a Delaware corporation ("Pledgee"), and Tina Klocke ("Pledgor").

                                    Recitals

          A. Pursuant to Pledgor's purchase of shares of Pledgee's common stock,
par value $.01 per share ("Common Stock"), under the Restricted Stock Purchase
Agreement dated September 19, 2001 (the "Purchase Agreement"), between Pledgor
and Pledgee, and Pledgor's payment for such shares with monies advanced pursuant
to that certain Secured Promissory Note executed by Pledgor in favor of the
Pledgee dated September 19, 2001 (the "Note"), Pledgor has purchased 20,491
shares of Common Stock (the "Shares") at a price of $6.10 per share, for a total
purchase price of $124,995.

          B. It is a condition precedent to the extension of credit pursuant to
the Note that the Pledgor shall have executed and delivered this Pledge
Agreement in favor of the Pledgee.

          NOW, THEREFORE, in consideration of the foregoing and for other
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto do hereby agree as follows:

1. Creation and Description of Security Interest. Pledgor hereby grants a lien
on and pledges all of the Shares (herein sometimes referred to as the
"Collateral") represented by certificate number 10, duly endorsed in blank or
with executable stock powers in form and substance satisfactory to Pledgee, and
herewith delivers said certificate to the Secretary of Pledgee (the "Escrow
Agent"), who shall hold said certificate subject to the terms and conditions of
this Pledge Agreement.

          The pledged stock shall be held by the Escrow Agent as security for
the repayment of the Note, and any costs and expenses incurred in the
enforcement or attempted enforcement of the Note, and any extensions or renewals
thereof, and the Escrow Agent shall not encumber, sell or otherwise dispose of
such Shares except in accordance with the provisions of this Pledge Agreement.

2. Pledgor's Representations and Covenants. Pledgor represents and covenants to
Pledgee, its successors and assigns, as follows:

          (a) Pledgor will pay the principal sum of the Note secured hereby,
     together with interest thereon, at the time and in the manner provided in
     the Note.

          (b) The Shares are free of all other encumbrances, defenses and liens
     (other than the lien granted hereunder), and Pledgor will not encumber or
     allow to be

<PAGE>

     encumbered the Shares without the prior written consent of Pledgee or
     enter into any agreement that could restrict Pledgee's exercise of its
     rights hereunder or under the Note.

          (c) Pledgor shall pay, prior to the delinquency date, all taxes,
     liens, assessments and other charges levied against the Collateral, and in
     the event Pledgor fails to do so, Pledgee shall have the right, but not the
     obligation, to pay all or any portion of such taxes and charges without
     contesting the validity or legality thereof. Any payment made by Pledgee
     pursuant to this Section 2(c) shall become part of the indebtedness of
     Pledgor secured hereunder, and until paid by Pledgor, shall bear interest
     at the default rate per annum set forth in the Note.

3. Voting Rights. During the term of this pledge, Pledgor shall vote the Shares
pledged hereunder solely in accordance with the provisions of that certain
Amended and Restated Stockholders' Agreement dated as of September 21, 2001
among the Company and certain of its stockholders a party thereto.

4. Stock Adjustments. In the event during the term of this Agreement of any
stock dividend, reclassification, readjustment, or other changes declared or
made in the capital structure of Pledgee, all new, substituted and additional
shares or other securities issued by reason of any such change shall be
delivered to and held by the Pledgee under the terms of this Pledge Agreement in
the same manner as the Shares originally pledged hereunder. In the event of
substitution of such securities, Pledgor, Pledgee and Escrow Agent shall
cooperate and execute such documents as are reasonable so as to provide for the
substitution of such Collateral and, upon such substitution, references to
"Shares" in this Pledge Agreement shall include the substituted shares of
capital stock of Pledgor as a result thereof.

5. Warrants and Rights. In the event that, during the term of this Agreement,
subscription warrants or other rights or options shall be issued in connection
with the Shares, such rights, warrants and options shall be the property of
Pledgor and, if exercised by Pledgor, all new stock or other securities so
acquired by Pledgor as it relates to the Share then held by Pledgee shall be
immediately delivered to Pledgee, to be held under the terms of this Agreement
in the same manner as the Shares pledged hereunder.

6. Repayment. Pledgor hereby agrees that at any time if Borrower shall have
received any cash payment or other distribution in respect of, or upon transfer,
sale or other disposition of, the Shares, then and in each such case, Pledgor
shall immediately deliver to Pledgee such amount as in partial or full payment
of principal and interest on the Note.

7. Default. Pledgor shall be deemed to be in default of the Note and of this
Pledge Agreement upon the occurrence of any of the following events (each such
event, an "Event of Default"):

          (a) Payment of principal or interest on the Note shall be delinquent
     for a period of 30 days or more beyond the due date thereof; or

                                       2
<PAGE>

          (b) Pledgor fails to perform any of the covenants or other agreements
     set forth in this Agreement for a period of 10 days; or

          (c) Any representation or warranty herein shall be untrue in any
     material respect; or

          (d) Pledgee shall cease to have valid perfected first priority lien on
     all or any part of the Collateral.

8. Pledgee's Rights Upon or Event of Default.

          (a) In the case of an Event of Default, Pledgee shall have the right
     to accelerate payment of the Note upon notice to Pledgor, and Pledgee shall
     thereafter be entitled to pursue all remedies available to a secured party
     under the Missouri Uniform Commercial Code in effect from time to time
     (whether or not applicable to the Collateral) or available at law or equity
     or otherwise.

          (b) In the case of an Event of Default, in addition to any other
     rights or remedies otherwise available, Pledgee may, without notice and at
     its option, with respect to any Collateral which shall then be in, or shall
     thereafter come into, the possession or custody of Pledgee, Pledgee may
     sell or cause the same to be sold at any broker's board or at any public or
     private sale, in one or more sales or lots, at such price or prices as
     Pledgee may deem best, for cash or on credit or for future delivery,
     without assumption of any credit risk. The purchaser of any or all
     Collateral so sold shall thereafter hold the same absolutely, free from any
     lien, encumbrance or right of any kind whatsoever. Unless any of the
     Collateral threatens to decline speedily in value or is or becomes of a
     type sold on a recognized market, Pledgee will give Pledgor reasonable
     notice of the time and place of any public sale thereof, or of the time
     after which any private sale or other intended disposition is to be made.
     Any sale of the Collateral conducted in conformity with reasonable
     commercial practices of banks, insurance companies, commercial finance
     companies or other financial institutions disposing of property similar to
     the Collateral shall be deemed to be commercially reasonable. Any
     requirements of reasonable notice shall be met if such notice is mailed to
     the Pledgor at least ten (10) days before the time of the sale or
     disposition. Any other requirement of notice, demand or advertisement for
     sale is, to the extent permitted by law, waived. Pledgee may, in its own
     name or in the name of a designee or nominee, buy any of the Collateral at
     any public sale and, if permitted by applicable law, at any private sale.
     All expenses (including court costs and attorney's fees, expenses and
     disbursements) of, or incident to, the enforcement of any of the provisions
     hereof shall be recoverable from the proceeds of the sale of any of the
     Collateral for the period of time necessary to register such securities for
     public sale under the Securities Act of 1933, as amended (the "Securities
     Act"), or under any other applicable securities law. In view of the fact
     that the Securities Act and other applicable securities laws may impose
     certain restrictions on the method by which a sale of the Collateral may be
     effected, Pledgor agrees that upon the occurrence of an Event of Default,
     Pledgee may, from time to time, attempt to sell all or any part of the
     Collateral

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<PAGE>

     by means of a private sale, restricting the prospective purchasers to those
     who will represent and agree that they are purchasing for investment only
     and not for distribution. Pledgor acknowledges that any such private sales
     may be at prices and on terms less favorable to Pledgor than those
     obtainable through a public sale without such restrictions (including,
     without limitation, a public offering made pursuant to a registration
     statement under the Securities Act) and, notwithstanding such
     circumstances, Pledgor agrees that any such private sale shall be deemed to
     have been made in a commercially reasonable manner and that Pledgee shall
     have no obligation to engage in public sales and no obligation to delay the
     sale of any Collateral for the period of time necessary to permit the
     registration thereof for a form of public sale requiring registration under
     the Securities Act or under any other applicable securities laws. Pledgor
     waives any claims against Pledgee arising by reason of the fact that the
     price at any private sale was less than the price that might have been
     obtained at a public sale, even if Pledgee shall accept the first offer
     received and does not offer the Collateral to more than one prospective
     purchaser.

9. Withdrawal or Substitution of Collateral. Pledgor shall not sell, withdraw,
pledge, substitute, grant any options in or otherwise dispose of all or any part
of the Collateral without the prior written consent of Pledgee.

10. Term. The pledge of Shares set forth herein shall continue until the
indefeasible payment in full in cash of all indebtedness secured hereby, at
which time the Shares shall be promptly delivered to Pledgor, without any
representation, warranty or covenant thereto or any recourse in respect thereof.

11. Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is
instituted by or against him or if a receiver is appointed for the property of
Pledgor, or if Pledgor makes an assignment for the benefit of creditors, or the
Pledgor shall take any action in furtherance of any of the foregoing, or the
Pledgor shall generally not, or shall be unable to, or shall admit in writing
his inability to, pay his debts as they become due, the entire amount unpaid on
the Note shall become immediately due and payable, and Pledgee may proceed as
provided in the case of an Event of Default.

12. Invalidity of Particular Provisions. Pledgor and Pledgee agree that the
enforceability of invalidity of any provision or provisions of this Agreement
shall not render any other provision or provisions herein contained
unenforceable or invalid.

13. Successors or Assigns. Pledgor and Pledgee agree that all of the terms of
this Agreement shall be binding on their respective permitted successors and
assigns, and that the term "Pledgor" and the term "Pledgee" as used herein shall
be deemed to include, for all purposes, the respective designees, successors,
assigns, heirs, executors and administrators. Pledgor shall not assign or
otherwise transfer all or any of her rights and obligations hereunder without
the prior written consent of Pledgee, in its sole discretion. This Agreement
shall be freely assignable by Pledgee.

14. Defined Terms. Capitalized terms used herein without definition shall have
the meanings ascribed to such terms under the Purchase Agreement.

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<PAGE>

15. Governing Law. This Pledge Agreement shall be interpreted and governed by
the internal laws of the State of Missouri.

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<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Repayment and
Stock Pledge Agreement as of the day and year first above written.

     "PLEDGOR"                         /s/ Tina Klocke
                                       -----------------------------------------
                                       Tina Klocke

                                       5736 Beddeford
                                       -----------------------------------------
                                                       Address

                                       St. Louis, MO 63128
                                       -----------------------------------------

     "PLEDGEE"                         BUILD-A-BEAR WORKSHOP, INC.

                                       /s/ Maxine Clark
                                       -----------------------------------------
                                       By: Maxine Clark
                                           -------------------------------------
                                       Its: President
                                            ------------------------------------

                                       6<PAGE>
                                                                   EXHIBIT 10.25

JS LOGISTICS

                                                      PUBLIC WAREHOUSE AGREEMENT
                                                       CONTRACT RATE AND CHARGES

<Table>
<S>                      <C>                                                <C>
CORPORATE LOCATION
COMPANY NAME             BUILD A BEAR
CLIENT ADDRESS           1964 INNERBELT BUSINESS CTR DR                     CONTRACT ISSUE DATE  February 1, 2002
CITY STATE ZIP           ST LOUIS MO  63114
CONTACT NAME             JOHN MATTHEWS                                      CONTRACT EFFECTIVE DATE  March 31, 2002
CONTACT PHONE NUMBER     314-423-8000
CONTACT FAX NUMBER                                                          CONTRACT TERM PERIOD   2 YEAR
BILLING ADDRESS          SAME AS ABOVE
ADDRESS                  SAME AS ABOVE                                      QUOTED BY    RICH REKOWSKI
CITY STATE ZIP           SAME AS ABOVE
ATTENTION                JOHN MATTHEWS                                      TYPE OF BUSINESS   RETAIL
TITLE
</Table>

SUBJECT TO THE TERMS AND CONDITIONS IN THE SIX PAGES OF THIS DOCUMENT, JS
LOGISTICS, INC. WILL PROVIDE SERVICES AS STATED HEREIN ON PAGE 2 OF THIS
CONTRACT.

--------------------------------------------------------------------------------

SPECIAL INSTRUCTIONS, TERMS OR CONDITIONS:
PRIOR TO RECEIPT OF FREIGHT, AN EXECUTED CONTRACT MUST BE RETURNED TO JS
LOGISTICS.

IN SUCH CASES WHEREAS THIS PERTAINS TO A RENEWAL OF AN EXISTING CONTRACT, THE
RATES SHALL BE IMPOSED COMMENCING SIXTY (60) DAYS AFTER ISSUE DATE UNLESS AN
EXTENSION IN WRITING IS EXECUTED BY JS LOGISTICS, INC.

--------------------------------------------------------------------------------

  MERCHANDISE SHOULD BE CONSIGNED TO YOU IN CARE OF JS WAREHOUSE, INC. AT THE
                               FOLLOWING ADDRESS

                    4550 GUSTINE AVENUE, ST. LOUIS, MO 63116

--------------------------------------------------------------------------------

INVOICES FOR HANDLING, STORAGE, LABOR, SUPPLIES, EQUIPMENT, FREIGHT AND
MANAGEMENT FEES ARE DUE WITHIN 30 DAYS OF INVOICE DATE. MONTHLY STORAGE FEES ARE
DUE THE FIRST DAY OF THE MONTH TO WHICH THEY APPLY. JS LOGISTICS, INC. SHALL
ASSESS A 1-1/2 % SERVICE CHARGE PER MONTH ON THE OUTSTANDING AMOUNT.

<PAGE>

                  THIS PUBLIC WAREHOUSE AGREEMENT ("Agreement"), which includes
the terms and conditions contained in Exhibit A and Exhibit B attached hereto,
has been duly executed by the parties as of the date indicated below:

<Table>
<S>          <C>                                               <C>          <C>
FOR          BUILD-A-BEAR WORKSHOP, INC.                       FOR          JS LOGISTICS, INC.
SIGNATURE        /s/ John F. Burtelow                          SIGNATURE       /s/ Richard A Rekowski
             -----------------------------------------                      ----------------------------------------------
PRINT NAME   JOHN F. BURTELOW                                  PRINT NAME   RICHARD A. REKOWSKI
             -----------------------------------------
PRINT TITLE  CHIEF BANKER BEAR                                 PRINT TITLE  DIRECTOR LOGISTICS
             -----------------------------------------
DATED        4-5-02                                            DATED        3/29/02
             -----------------------------------------                      ----------------------------------------------
</Table>

<PAGE>
                                    EXHIBIT A

<Table>
<Caption>
STANDARD SERVICES                                RATE                     PER                                         2ND YEAR RATES
-----------------                                ----                     ---                                         --------------
<S>                                           <C>                    <C>                                              <C>
INBOUND HANDLING                                $0.46                     CASE                                            $0.475
INBOUND HANDLING                                $4.30                    PALLET                                            $4.44
OUTBOUND HANDLING                               $0.46                  INTER PACK                                         $0.475
OUTBOUND HANDLING                               $0.46                     CASE                                            $0.475
OUTBOUND HANDLING                               $4.30                    PALLET                                            $4.44
RECURRING STORAGE                             $65888.00                  MONTH                                           $65888.00
185600sf
SPECIAL SHIPMENTS                               $0.46                  PER PIECE                                          $0.475
$5.00 Minimum)
BILL OF LADING                                  $5.75                BILL OF LADING                                        $5.75
PHYSICAL INVENTORIES                        PER RATE ABOVE             INVENTORY              1 FREE/YEAR             PER RATE ABOVE
PALLETS SUPPLIED BY
JS                                              $4.25                    PALLET                                            $4.25
SUPPLIES-SHRINK WRAP                        15% OVER COST                                                              15% OVER COST
TAPE, BANDING ETC
FREIGHT                                     15% OVER COST                                                              15% OVER COST
CROSS DOCKING                                   $4.30                    PALLET                                            $4.44
CROSS DOCKING                                   $0.46                    PIECE                                            $0.475
</Table>

SUPPLEMENTAL SERVICES

WAREHOUSEMAN WILL PROVIDE ADDITIONAL SERVICES AT CUSTOMER REQUEST AT THE
CLERICAL AND WAREHOUSE LABOR RATES INDICATED BELOW. UNLESS THE SERVICE IS
SPECIFICALLY IDENTIFIED ABOVE, IN WHICH CASE THE RATE SHOWN FOR THAT SPECIFIC
SERVICE WILL APPLY.

<Table>
<Caption>
                                                                AFTER REGULAR
                                    REGULAR MON-FRI            BUSINESS HOURS
LABOR SERVICES                        8AM-4:30 PM             (4:30 PM-7:59 AM)              OVERTIME                   SUN/HOLIDAY
--------------                      ---------------           -----------------              ---------                  -----------
<S>                                 <C>                       <C>                            <C>                        <C>
LABOR                                   $25/HR                    $30.00/HR                  $30.00/HR                    $40/HR
</Table>

WAREHOUSE OVERTIME REQUIRES SUPERVISION. THIS TIME WILL BE CHARGED AT THE LABOR
RATE LISTED ABOVE. WEEKEND AND HOLIDAY OVERTIME REQUIRES A FOUR-HOUR MINIMUM.

PASS THROUGH EXPENSES
GOODS AND SERVICES PURCHASED DIRECTLY BY WAREHOUSEMAN AT CUSTOMERS' REQUEST AND
THEN INVOICED BY WAREHOUSEMAN TO CUSTOMER WILL BE ASSESSED AN UPCHARGE OF 15%.

<PAGE>

                                    Exhibit B
                              Terms and Conditions

ACCEPTANCE -- SEC. 1

(a) This contract and rate quotation including accessorial charges endorsed on
or attached hereto must be accepted within 30 days from the proposal date by
signature of depositor on the first page of the contract. In the absence of
written acceptance, the act of tendering goods described herein for storage or
other services by warehouseman within 30 days from the proposal date shall
constitute such acceptance by depositor.

(b) In the event that goods tendered for storage or other services do not
conform to the description contained herein, or conforming goods are tendered
after 30 days from the proposal date without prior written acceptance by
depositor as provided in paragraph (a) of this section, warehouseman may refuse
to accept such goods. If warehouseman accepts such goods, depositor agrees to
rates and charges as may be assigned and invoiced by warehouseman and to all
terms of this contract.

(c) This contract may be canceled by either party upon 60 days written notice
and is canceled if no storage or other services are performed under this
contract for a period of 180 days. In addition, Depositor may terminate this
Agreement immediately upon the insolvency of Warehouseman, any assignment of
Warehouseman for the benefit of its creditors, or the failure of Warehouseman to
vacate the appointment of a receiver or trustee for any part or interest of its
business within 30 days from the date of such appointment.

SHIPPING -- SEC. 2

Depositor agrees not to ship goods to warehouseman as the named consignee. If,
in violation of this agreement, goods are shipped to warehouseman as named
consignee, depositor agrees to notify carrier, with copy of such notice to the
warehouseman, that warehouseman named as consignee is a warehouseman and has no
beneficial title or interest in such property. Depositor further agrees to
indemnify and hold harmless warehouseman from any and all claims for unpaid
transportation charges, including undercharges, demurrage, detention or charges
of any nature, in connection with goods so shipped. Depositor further agrees
that, if it fails to notify carrier as required by the preceding sentence,
warehouseman shall have the right to refuse such goods and shall not be liable
or responsible for any loss, injury, or damage of any nature to, or related to,
such goods.

TENDER FOR STORAGE -- SEC. 3

All goods for storage shall be delivered at the warehouse properly marked and
packaged for handling. The depositor shall furnish at or prior to such delivery,
a manifest showing marks, brands, or sizes to be kept and accounted for
separately, and the class of storage and other services desired.

STORAGE PERIOD AND CHARGES -- SEC. 4

Storage charges are billed in advance on the first day of each month. Should the
Depositor elect to not use Warehouseman's 4550 Gustine location or any other
warehouseman's facility as its sole location of central storage and handling,
the storage charge in Exhibit A will be adjusted to a mutually agreeable amount.

TRANSFER, TERMINATION OF STORAGE, REMOVAL OF GOODS -- SEC. 5

(a) Instructions to transfer goods on the books of the warehouseman are not
effective until delivered to and received by warehouseman, and all charges up to
the time transfer is made are chargeable to the depositor of record. If a
transfer involves rehandling the goods, such rehandling will be subject to a
charge at warehouseman's standard rates set forth on Exhibit A attached hereto.

(b) The warehouseman reserves the right to move, at his expense, 14 days after
notice is sent by certified or registered mail to the depositor of record or to
the last known holder of the negotiable warehouse receipt, any goods in storage
from the warehouse in which they may be stored to any other of his warehouses
located outside the warehouse complex identified on the first page of this
agreement. Warehouseman will store the goods at, and may without notice move the
goods within and between, any one or more of the warehouse buildings which
comprise the warehouse complex identified on the first page of this agreement.

(c) If as a result of a quality or condition of the goods of which the
warehouseman had no notice at the time of deposit the goods are a hazard to
other property or to the warehouse or to persons, the warehouseman may sell the
goods at public or private sale without advertisement on reasonable notification
to all persons known to claim an interest in the goods and such action cannot
occur within fifteen (15) days from the date of notice to Depositor. If the
warehouseman after a reasonable effort is unable to sell the goods, he may
dispose of them in any lawful manner and shall incur no liability by reason of
such disposition. Pending such disposition, sale, or return of the goods, the
warehouseman may remove the goods from the warehouse and shall incur no
liability by reason of such removal.

<PAGE>
HANDLING -- SEC. 6

(a) The handling charge covers the ordinary labor involved in receiving goods at
warehouse door, placing goods in storage, and returning goods to warehouse door.
Handling charges shall be invoiced monthly to depositor and are due and payable
within 15 days of invoice date.

(b) Unless otherwise agreed, labor for unloading and loading goods will be
subject to a charge at the rates set forth in Exhibit A. Additional expenses
incurred by the warehouseman in receiving and handling damaged goods, and
additional expense in unloading from or loading into cars or other vehicles not
at warehouse door will be charged to the depositor at the rates set forth in
Exhibit A.

(c) Labor and materials used in loading rail cars or other vehicles are
chargeable to the depositor at the rates set forth in Exhibit A.

(d) When goods are ordered out in quantities less than in which received, the
warehouseman may make an additional charge at the rates set forth in Exhibit A
for each order or each item of an order.

(e) The warehouseman shall not be liable for demurrage or detention, delays in
unloading inbound cars, trailers or other containers, or delays in obtaining and
loading cars; trailers or other containers for outbound shipment unless
warehouseman has failed to exercise reasonable care.

DELIVERY REQUIREMENTS -- SEC. 7

(a) No goods shall be delivered or transferred except upon receipt by the
warehouseman of complete written instructions. Written instructions shall
include, but are not limited to, FAX, EDI, Email, or similar communication.
However, when no negotiable receipt is outstanding, goods may be delivered upon
instruction by telephone in accordance with a prior written authorization, but
the warehouseman shall not be responsible for loss or error occasioned thereby.

(b) When depositor requests goods from the warehouse, a reasonable time shall be
given the warehouseman to carry out the applicable instructions, and if he is
unable because of acts of God, war, public enemies, seizure under legal process,
riots and civil commotion, or any reason beyond the warehouseman's control, or
because of loss or destruction of goods for which warehouseman is not liable, or
because of any other excuse provided by law, the warehouseman shall not be
liable for failure to carry out such instructions.

EXTRA SERVICES (SPECIAL SERVICES) -- SEC. 8

(a) Warehouse labor required for services other than ordinary handling and
storage will be charged to the depositor at the rates set forth on Exhibit A
attached hereto.

(b) Special services requested by depositor, including but not limited to,
compiling of special stock statements, reporting marked weights, serial numbers
or other data from packages, physical check of goods, and handling transit
billing will be subject to a charge at the rates set forth on Exhibit A attached
hereto.

(c) Dunnage, bracing, packing materials or other special supplies, may be
provided for the depositor at warehouseman's cost plus 15%.

(d) By prior arrangement, goods may be received or delivered during other than
usual business hours, subject to a charge at the rates set forth on Exhibit A
attached hereto.

(e) Communication expense including postage, teletype, telegram, or telephone
will be charged to the depositor at cost if such concern more than normal
inventory reporting or if, at the request of the depositor, communications are
made by other than regular United States Mail.

BONDED STORAGE -- SEC. 9

(a) A charge in addition to regular rates will be made for merchandise in bond
at the rates set forth on Exhibit A attached hereto.

(b) Where a warehouse receipt covers goods in U.S. Customs bond, such receipt
shall be void upon the termination of the storage period fixed by law.

LIABILITY AND LIMITATION OF DAMAGES -- SEC. 10

(a) The warehouseman shall not be liable for any damage to goods stored however
caused unless such damaged resulted for the failure by the warehouseman to
exercise such care in regard to them as a reasonably careful man would exercise
under like circumstances and warehouseman is not liable for damages which could
not have been avoided by the exercise of such care.

(b) Goods are not insured by the warehouseman against loss or damage however
caused.

(c) The depositor declares that damages are limited to the cost of the
merchandise.

(d) Where damage occurs to stored goods, for which the warehouseman is not
liable, the depositor shall be responsible for the cost of removing and
disposing of such goods and the cost of any environmental cleanup and site
remediation resulting from the loss or injury of goods.

NOTICE OF CLAIM AND FILING OF SUIT -- SEC. 11

(a) Claims by the depositor and all other persons must be presented in writing
to the warehouseman within a reasonable time, and in no event longer than 90
days after delivery or notification by the depositor that loss or injury to part
or all of the goods has occurred, whichever time is shorter.
<PAGE>

(b) No action may be maintained by the depositor or others against the
warehouseman for loss or injury to the goods stored unless such action is
commenced nine months after delivery or notification by the depositor that loss
or injury to part or all of the goods has occurred, whichever time is shorter.

(c) When goods have not been delivered, notice may be given of known loss or
injury to the goods by mailing of a registered or certified letter to the
depositor of record or to the last known holder of a negotiable warehouse
receipt. Time limitations for presentation of claim in writing and maintaining
of action after notice begin on the date of mailing of such notice by
warehouseman.

LIABILITY FOR CONSEQUENTIAL DAMAGES -- SEC. 12

Neither party shall be liable for any loss of profit or special, indirect, or
consequential damages of any kind.

LIABILITY FOR MISSHIPMENT -- SEC. 13

If warehouseman negligently misships goods, the warehouseman shall pay the
reasonable transportation charges incurred to return the misshipped goods to the
warehouse. If the consignee fails to return the goods, warehouseman's maximum
liability shall be for the lost or damaged goods as specified in Section 10
above, and warehouseman shall have no liability for damages due to the
consignee's acceptance or use of the goods whether such goods be those of the
depositor or another.

MYSTERIOUS DISAPPEARANCE -- SEC. 14

Warehouseman shall not be liable for loss of goods due to inventory shortage or
unexplained or mysterious disappearance of goods unless depositor establishes
such loss occurred because of warehouseman's failure to exercise the care
required of warehouseman under Section 10 above and merchandise shortages are
less than 0.625% of the cost of merchandise received by the Warehouseman.
Warehouseman shall be liable for any merchandise shortage in excess of 0.625% of
the cost of merchandise received, such shortage determined by periodic physical
inventory(s).

RIGHT TO STORE GOODS -- SEC. 15

Depositor represents and warrants that depositor is lawfully possessed of the
goods and has the right and authority to store them with warehouseman. Depositor
agrees to indemnify and hold harmless the warehouseman from all loss, cost and
expense (including reasonable attorneys' fees) which warehouseman pays or incurs
as a result of any dispute or litigation, whether instituted by warehouseman or
others, respecting depositor's right, title or interest in the goods. Such
amounts shall be charges in relation to the goods and subject to warehouseman's
lien.

ACCURATE INFORMATION -- SEE. 16

Depositor will provide warehouseman with information concerning the stored
goods, which is accurate, complete and sufficient to allow warehouseman to
comply with all laws and regulations concerning the storage, handling and
transporting of the stored goods. Depositor will indemnify and hold warehouseman
harmless from all loss, cost, penalty and expense (including reasonable
attorneys' fees) which warehouseman pays or incurs as a result of depositor
failing to fully discharge this obligation.

SEVERABILITY and WAIVER -- SEC. 17

(a) If any provision of this receipt, or any application thereof, should be
construed or held to be void, invalid or unenforceable, by order, decree or
judgment of a court of competent jurisdiction, the remaining provisions of this
receipt shall not be affected thereby but shall remain in full force and effect.

(b) Warehouseman's failure to require strict compliance with any provision of
the Warehouse Receipt shall not constitute a waiver or estoppel to later demand
strict compliance with that or any other provision(s) of this Warehouse Receipt.

(c) The provisions of this Warehouse Receipt shall be binding upon the
depositor's heirs, executors, successors and assigns; contain the sole agreement
governing goods stored with the warehouseman; and, cannot be modified except by
a writing signed by warehouseman.

COMPLIANCE WITH UNIFORM COMMERCIAL CODE -- SEC. 18

Unless otherwise expressly set forth herein, all of warehouseman's acts carried
out in its performance of services hereunder and any liability hereunder shall
be governed by the provisions of the Uniform Commercial Code, Mo. Rev. Stat.
Section 400.7-101 et seq.

<PAGE>

                           FIRST AMENDMENT TO CONTRACT

The following represents the first amendment to the contract dated February 1,
2002 between JS Logistics, Inc. ("JS") and Build-A-Bear Workshop, Inc. ("BABW")
whereby JS provides warehousing and distribution services to BABW. The contract
is hereby amended as follows:

      1.    The Contract termination date is extended to March 31, 2005 from
            March 31, 2004.

      2.    Either party may terminate the contract at any time after March 31,
            2004 by providing five months notice.

      3.    In the event of termination of the contract and the transfer of BABW
            items from JS's warehouse(s), such bulk transfers will be charged to
            BABW at $25 per hour. This charge is in lieu of the carton contract
            rates for normal distributions to BABW stores. JS will also charge
            BABW for the contract rate for pallets used to move such items.

      4.    Effective May 25, 2003 and for the remainder of the contract, the
            recurring monthly storage fee will be $55,888 per month and all
            other inbound/outbound fees currently being assessed at $.475 per
            carton will be assessed at $.46 per carton. Carton is defined as a
            master pack carton when there are no inner pack cartons within the
            master carton and as inner pack cartons when such master carton
            contains inner pack cartons (which is the current billing practice).

      5.    BABW will have use of the entire warehouse located at 4550 Gustine
            Ave, including the main warehouse facility (approx 186,000 square
            feet) and the detached warehouse space (approximately 14,000 square
            feet) but will not have use of the open dock space between these two
            facilities. Should BABW and JS mutually decide that additional
            storage space is required for BABW in addition to the existing
            200,000 square feet, such determination will take in to account
            operational needs, regulatory requirements and local building codes
            and such additional space's rental will be negotiated at such future
            time.

Build-A-Bear Workshop, Inc.                               JS Logistics, Inc.
By: /s/ John F. Burtelow                                  By: /s/ John Cody
It's: Chief Banker Bear                                   It's: President
Date: 5/20/03                                             Date: 5/20/03

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