SEC Contract Filing

Filing Date: 2017-03-16

Document Content:
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<TYPE>EX-10.3.2
<SEQUENCE>3
<FILENAME>ex10-3.2.htm
<DESCRIPTION>EXHIBIT 10.3.2
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-size: 10pt; font-family: Times New Roman, Times, serif"><b>Exhibit 10.3.2</b></font></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u><b>SEPARATION AGREEMENT AND GENERAL RELEASE</b></u></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">This</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> separation agreement and general release (&ldquo;Agreement&rdquo;) is entered into by and between Gina Collins (&ldquo;Employee&rdquo;) and Build-A-Bear Workshop, Inc. (&ldquo;Company&rdquo;).</font></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u>RECITALS</u></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s employment with the Company will cease at the close of business on January 6, 2017 (the &ldquo;Termination Date&rdquo;). </font></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee and the Company (individually, &ldquo;Party&rdquo; and collectively, &ldquo;Parties&rdquo;) desire to agree upon provisions for the termination of all duties, responsibilities, and compensation requirements of the Parties.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:</font></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Employment Responsibilities</u><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">. Employee agrees that her employment with the Company will terminate on the &ldquo;Termination Date&rdquo;, thereby terminating as of that date all further obligations of the Company to Employee, of whatever kind and nature, including all forms of compensation and benefits that otherwise might have been owed to Employee due to her holding any employment with the Company, except those that are expressly identified in this</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> Agreement. Employee further agrees, as of the Termination Date, to resign from her position as an officer of the Company, and as an officer and a director of any subsidiary or affiliate of the Company, and Employee agrees to complete and submit any documentation necessary to resign such positions. Through the Termination Date, Employee shall perform such duties as shall be assigned to her by the Company, to the best of her abilities.</font></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Employee acknowledges that except as provided in Paragraph 2 below and <u>Exhibit 1</u> hereto, she is not entitled to any payments or benefits under any employee benefit plan, arrangement, policy, agreement or other arrangement of the Company (collectively, &ldquo;Plans&rdquo;) following her termination of employment.</font></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Separation Benefits</u><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">.</font></p>

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