<SEC-DOCUMENT>0001437749-12-002754.txt : 20120326
<SEC-HEADER>0001437749-12-002754.hdr.sgml : 20120326
<ACCEPTANCE-DATETIME>20120326160547
ACCESSION NUMBER:		0001437749-12-002754
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120320
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20120326
DATE AS OF CHANGE:		20120326

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BUILD A BEAR WORKSHOP INC
		CENTRAL INDEX KEY:			0001113809
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-HOBBY, TOY & GAME SHOPS [5945]
		IRS NUMBER:				431883836
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0101

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32320
		FILM NUMBER:		12714611

	BUSINESS ADDRESS:	
		STREET 1:		1954 INNERBELT BUSINESS CENTRE DRIVE
		CITY:			ST LOUIS
		STATE:			MO
		ZIP:			63114
		BUSINESS PHONE:		314-423-8000

	MAIL ADDRESS:	
		STREET 1:		1954 INNERBELT BUSINESS CENTRE DRIVE
		CITY:			ST LOUIS
		STATE:			MO
		ZIP:			63114
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>bbw20120323_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA1><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">UNITED STATES</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA2><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">SECURITIES AND EXCHANGE COMMISSION</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA3><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA4><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">WASHINGTON, DC 20549</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA5><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA6><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">FORM 8-K</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA7><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA8><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">CURRENT REPORT </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA9><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">PURSUANT </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA10><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">TO SECTION 13 OR 15 (d) OF THE</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA11><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">SECURITIES EXCHANGE ACT OF 1934</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA12><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA13><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Date of report (Date of earliest event</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA14><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">reported): March 26, 2012 (March 20, 2012)</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA15><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA16><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Build-A-Bear Workshop, Inc. </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA17><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">-------------------------------------------------</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA18><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(Exact Name of Registrant as Specified in Its Charter)</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA19><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<TABLE style="WIDTH: 100%; FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt" id=TBL33  border=0 cellSpacing=0 cellPadding=0>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA20><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Delaware</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA21><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">---------------------------</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA22><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(State or Other</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA23><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Jurisdiction of</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA24><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Incorporation)</FONT></P></TD>
<TD style="WIDTH: 33%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA25><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">001-32320</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA26><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">-------------------</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA27><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(Commission</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA28><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">File Number)</FONT></P></TD>
<TD style="WIDTH: 33%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA29><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">43-1883836</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA30><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">---------------------------</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA31><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(IRS Employer</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA32><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Identification No.)</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA34><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA35><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">1954 Innerbelt Business Center Drive </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA37><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">St. Louis, Missouri</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA38><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">----------------------------------------------------</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA39><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(Address of Principal Executive Offices)</FONT></P></TD>
<TD style="WIDTH: 33%; VERTICAL-ALIGN: bottom">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA40><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">63114</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA42><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">------------------</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA43><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(Zip Code)</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA45><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA46><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(314) 423-8000</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA47><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">------------------------------------------</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA48><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(Registrant's Telephone Number, Including Area Code)</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA49><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 18.1pt; MARGIN: 0pt" id=PARA50><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<I>see </I>General Instruction A.2. below):</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA51><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
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<TD style="TEXT-ALIGN: left; WIDTH: 2.2%; VERTICAL-ALIGN: top">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA55><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&#9744;</FONT></P></TD>
<TD style="TEXT-ALIGN: left; WIDTH: 6.1%; VERTICAL-ALIGN: top">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA56><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P></TD>
<TD style="TEXT-ALIGN: left; WIDTH: 87.5%; VERTICAL-ALIGN: top">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA57><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P></TD></TR></TABLE>
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<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA60><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P></TD>
<TD style="TEXT-ALIGN: left; WIDTH: 2.2%; VERTICAL-ALIGN: top">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA61><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&#9744;</FONT></P></TD>
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<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA62><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P></TD>
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<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA63><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P></TD></TR></TABLE>
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<TD style="TEXT-ALIGN: left; WIDTH: 2.2%; VERTICAL-ALIGN: top">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA67><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&#9744;</FONT></P></TD>
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<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA68><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P></TD>
<TD style="TEXT-ALIGN: left; WIDTH: 87.5%; VERTICAL-ALIGN: top">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA69><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P></TD></TR></TABLE>
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<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA72><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P></TD>
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<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA73><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&#9744;</FONT></P></TD>
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<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA74><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P></TD>
<TD style="TEXT-ALIGN: left; WIDTH: 87.5%; VERTICAL-ALIGN: top">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA75><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA76><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</P>
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<DIV style="TEXT-ALIGN: left; WIDTH: 100%" id=PGHDR356 >&nbsp;</DIV></DIV>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA76>&nbsp;</P></FONT>
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<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA79><U><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B>Item 5.02.</B></FONT></U><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B><B></B></B></FONT></P></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; VERTICAL-ALIGN: top" width=1134>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA80><U><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></FONT></U><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA85><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On March 20, 2012, the Compensation and Development Committee (the &#147;Committee&#148;) of the Board of Directors of Build-A-Bear Workshop, Inc. (the &#147;Company&#148;) adjusted the compensation of its executive officers, including its named executive officers, other than the Chief Executive Bear.&nbsp; At the recommendation of the Committee, the Board of Directors ratified and approved the Chief Executive Bear's compensation.&nbsp; These compensation adjustments included base salary adjustments for each named executive officer other than the Chief Executive Bear, determination of the 2012 annual bonus plan, and 2012 long-term incentive compensation grants, each of which is described below.</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA86><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 35.9pt; MARGIN: 0pt" id=PARA87><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><I>2012 Base Salary Adjustments</I></FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA88><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 35.9pt; MARGIN: 0pt" id=PARA89><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The adjusted annual base salaries for the Company's named executive officers whose base salaries were adjusted effective March 25, 2012 are: </FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA90><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<TABLE style="WIDTH: 80%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 10%; FONT-SIZE: 10pt; MARGIN-RIGHT: 10%" id=TBL109  border=0 cellSpacing=0 cellPadding=0>

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<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA91><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U><B>Name/Position</B></U></FONT></P></TD>
<TD style="WIDTH: 34%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA92><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U><B>Adjusted Annual Base Salary</B></U></FONT></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 66%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA93><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Tina Klocke, Chief Operations and Financial Bear, Treasurer and Secretary</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 34%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA95><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$357,000</FONT></P></TD></TR>
<TR>
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<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA97><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Eric Fencl, Chief Bearrister, General Counsel and International Franchising</FONT></P></TD>
<TD style="WIDTH: 34%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA99><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$300,000</FONT></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 66%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA101><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">David Finnegan, Chief Information Bear</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 34%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA103><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$297,000</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 66%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA105><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Teresa Kroll, Chief Marketing and Entertainment Bear</FONT></P></TD>
<TD style="WIDTH: 34%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA107><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$270,000</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA110><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA115><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><I>2012 Bonus Performance Objectives</I></FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA116><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 35.9pt; MARGIN: 0pt" id=PARA117><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Also on March 20, 2012, the Committee established the 2012 performance objectives for the range of cash bonuses that may be paid under the Build-A-Bear Workshop, Inc. Second Amended and Restated 2004 Stock Incentive Plan (the &#147;Plan&#148;) to the Company's executive officers, including its named executive officers. The Base Bonus Calculation for each of the executives for 2012 is determined by multiplying the Base Bonus Payout (set forth below) by the executive's eligible base salary (which excludes items such as relocation allowances, bonuses, stock options exercised and vested restricted stock):</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA118><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<TABLE style="WIDTH: 80%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 10%; CLEAR: both; FONT-SIZE: 10pt; MARGIN-RIGHT: 10%" id=TBL143  border=0 cellSpacing=0 cellPadding=0>

<TR>
<TD style="WIDTH: 72%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA119><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U><B>Name/Position</B></U></FONT></P></TD>
<TD style="WIDTH: 28%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA120><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U><B>Base Bonus Payout</B></U></FONT></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA121><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Maxine Clark, Chief Executive Bear</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA123><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">125%</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 72%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA125><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Tina Klocke, Chief Operations and Financial Bear, Treasurer and Secretary</FONT></P></TD>
<TD style="WIDTH: 28%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA127><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">70%</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA130><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Eric Fencl, Chief Bearrister, General Counsel and International Franchising</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA132><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">40%</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 72%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA135><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">David Finnegan, Chief Information Bear</FONT></P></TD>
<TD style="WIDTH: 28%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA137><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">40%</FONT></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 72%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA139><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Teresa Kroll, Chief Marketing and Entertainment Bear</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA141><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">40%</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA144><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></P>
<P>&nbsp;</P>
<DIV style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" id=PGBK357 >
<DIV style="TEXT-ALIGN: center; WIDTH: 100%" id=PGFTR357 >&nbsp;</DIV>
<DIV style="TEXT-ALIGN: center; WIDTH: 100%; DISPLAY: inline; FONT-SIZE: 10pt" id=PGNUM357 >2</DIV>
<HR style="PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noShade>

<DIV style="TEXT-ALIGN: left; WIDTH: 100%" id=PGHDR357 >&nbsp;</DIV></DIV>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA144></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA357>&nbsp;&nbsp;</P></FONT>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The cash bonus, if any, to be paid to each respective executive officer will be calculated by multiplying the Base Bonus Calculation described above by the sum of (i) 25% of the applicable Percentage of Base Bonus Calculation set forth in in column (3) below for fiscal 2012 consolidated revenue, plus (ii) 75% of the applicable Percentage of Base Bonus Calculation set forth in in column (3) below for fiscal 2012 consolidated earnings before interest, taxes, depreciation and amortization (&#147;EBITDA&#148;).</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA150><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA151><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>Consolidated Revenue&#151;25% Percent Weighting</U></FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA152><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<TABLE style="WIDTH: 80%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 10%; CLEAR: both; FONT-SIZE: 10pt; MARGIN-RIGHT: 10%" id=TBL177  border=0 cellSpacing=0 cellPadding=0>

<TR>
<TD style="WIDTH: 32%; VERTICAL-ALIGN: bottom">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA153><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(1)</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA154><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>Achievement Level</U></FONT></P></TD>
<TD style="WIDTH: 32%; VERTICAL-ALIGN: bottom">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA156><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(2)</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA157><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Consolidated </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>Revenue</U></FONT></P></TD>
<TD style="WIDTH: 35%; VERTICAL-ALIGN: bottom">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(3)<BR>Percentage of Base Bonus </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>Calculation</U></FONT></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 32%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA159><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Threshold</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 32%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA161><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$398,302,000</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA163><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">25%</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 32%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA165><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Target</FONT></P></TD>
<TD style="WIDTH: 32%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA167><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$410,332,000</FONT></P></TD>
<TD style="WIDTH: 35%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA169><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">100%</FONT></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 32%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA171><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Maximum</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 32%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA173><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$426,766,000</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA175><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">200%</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA178><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA179><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA180><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>Consolidated EBITDA&#151;75% Percent Weighting</U></FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA181><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT><BR></P>
<TABLE style="WIDTH: 80%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 10%; CLEAR: both; FONT-SIZE: 10pt; MARGIN-RIGHT: 10%" id=TBL206  border=0 cellSpacing=0 cellPadding=0>

<TR>
<TD style="WIDTH: 33%; VERTICAL-ALIGN: bottom">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA182><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(1)</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA183><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>Achievement Level</U></FONT></P></TD>
<TD style="WIDTH: 31%; VERTICAL-ALIGN: bottom">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA185><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(2) </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA186><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Consolidated </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>EBITDA</U></FONT></P></TD>
<TD style="WIDTH: 37%; VERTICAL-ALIGN: bottom">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(3)<BR>Percentage of Base Bonus</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;<U>Calculation</U></FONT></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 33%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA188><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Threshold</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA190><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$23,282,000</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 37%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA192><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">25%</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 33%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA194><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Target</FONT></P></TD>
<TD style="WIDTH: 31%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA196><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$28,001,000</FONT></P></TD>
<TD style="WIDTH: 37%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA198><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">100%</FONT></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 33%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA200><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Maximum</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA202><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$34,524,000</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 37%; VERTICAL-ALIGN: top">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA204><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">200%</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA207><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><BR></P>
<TABLE style="WIDTH: 100%" id=DTAB209  border=0 cellSpacing=0 cellPadding=0>

<TR>
<TD style="TEXT-ALIGN: left; WIDTH: 8.3%">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA210><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P></TD>
<TD style="TEXT-ALIGN: left; WIDTH: 91.7%" colSpan=3>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA211><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The performance objectives and the Build-A-Bear Workshop, Inc. 2012 Bonus Plan (the &#147;2012 Bonus Plan&#148;) provide for mandatory bonus payouts only if the Company's 2012 consolidated revenue or consolidated EBITDA (after providing for any bonus expense) exceeds the threshold amount. Under the 2012 Bonus Plan, consolidated revenue and consolidated EBITDA results that fall between any of the achievement levels set forth in the tables above will be interpolated between the applicable achievement levels in accordance with the methodology set forth in the 2012 Bonus Plan, in the sole discretion of the Committee. This discretion includes the ability to reduce the otherwise applicable Percentage of Base Bonus Calculation for each achievement level, but the Committee may not use its discretion to increase the amount of compensation payable above the maximum percentage of Base Bonus Calculation for each achievement level. Notwithstanding the foregoing, no cash bonuses shall be paid if consolidated comparable store sales for 2012 fiscal year are less than 2.0%.</FONT> <FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA214><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</P>
<DIV style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" id=PGBK358 >
<DIV style="TEXT-ALIGN: center; WIDTH: 100%" id=PGFTR358 >&nbsp;</DIV>
<DIV style="TEXT-ALIGN: center; WIDTH: 100%; DISPLAY: inline; FONT-SIZE: 10pt" id=PGNUM358 >3</DIV>
<HR style="PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noShade>

<DIV style="TEXT-ALIGN: left; WIDTH: 100%" id=PGHDR358 >&nbsp;</DIV></DIV>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA214>&nbsp;</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 36pt" id=PARA358>&nbsp;<FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><I>2012 Long-Term Incentive Plan Awards </I></FONT></FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA216><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><I>&nbsp;</I></FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 35.9pt; MARGIN: 0pt" id=PARA217><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Also on March 20, 2012, the Committee granted the executive officers, including the named executive officers, time-based restricted stock awards and performance-based restricted stock awards under the Plan. Utilizing market data compiled by the Committee's compensation consultant, the Committee determined the market value of the long-term incentive award for each executive officer. The resulting awards were then made 50% in time-based restricted stock and 50% in performance-based restricted stock, as follows:</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA218><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<TABLE style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 82.6%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 8.7%; CLEAR: both; FONT-SIZE: 10pt; BORDER-TOP: #000000 1px solid; MARGIN-RIGHT: 8.7%; BORDER-RIGHT: #000000 1px solid" id=TBL261  border=0 cellSpacing=0 cellPadding=1>

<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid; WIDTH: 47%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA219><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U><B>Name</B></U></FONT></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: medium none; WIDTH: 25%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; BORDER-RIGHT: medium none">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA224><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U><B>Number of Shares of Time-Based Restricted Stock</B></U></FONT></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 28%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA226><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U><B>Target Number of Shares of Performance-Based Restricted Stock</B></U></FONT></P></TD></TR>
<TR style="BORDER-BOTTOM: medium none; BORDER-TOP: medium none">
<TD style="BORDER-BOTTOM: #000000 1px solid; WIDTH: 47%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: #000000 1px solid">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA227><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Maxine Clark, Chief Executive Bear</FONT></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: #000000 1px">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA229><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">58,220</FONT></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 28%; VERTICAL-ALIGN: top; BORDER-TOP: medium none">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA231><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">58,220</FONT></P></TD></TR>
<TR style="BORDER-BOTTOM: medium none; BORDER-TOP: medium none">
<TD style="BORDER-BOTTOM: #000000 1px solid; WIDTH: 47%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: #000000 1px solid">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: -9pt; MARGIN: 0pt 0pt 0pt 9pt" id=PARA233><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Tina Klocke, Chief Operations and Financial Bear, Treasurer and Secretary</FONT></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: #000000 1px">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA235><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">20,164</FONT></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 28%; VERTICAL-ALIGN: top; BORDER-TOP: medium none">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA238><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">20,164</FONT></P></TD></TR>
<TR style="BORDER-BOTTOM: medium none; BORDER-TOP: medium none">
<TD style="BORDER-BOTTOM: #000000 1px solid; WIDTH: 47%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: #000000 1px solid">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: -9pt; MARGIN: 0pt 0pt 0pt 9pt" id=PARA241><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Eric Fencl, Chief Bearrister, General Counsel and International Franchising</FONT></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: #000000 1px">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA243><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">13,582</FONT></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 28%; VERTICAL-ALIGN: top; BORDER-TOP: medium none">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA246><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">13,582</FONT></P></TD></TR>
<TR style="BORDER-BOTTOM: medium none; BORDER-TOP: medium none">
<TD style="BORDER-BOTTOM: #000000 1px solid; WIDTH: 47%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: #000000 1px solid">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: -9pt; MARGIN: 0pt 0pt 0pt 9pt" id=PARA249><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">David Finnegan, Chief Information Bear</FONT></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: #000000 1px">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA251><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">11,592</FONT></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; WIDTH: 28%; VERTICAL-ALIGN: top; BORDER-TOP: medium none">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA253><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">11,592</FONT></P></TD></TR>
<TR style="BORDER-BOTTOM: medium none; BORDER-TOP: medium none">
<TD style="BORDER-BOTTOM: medium none; WIDTH: 47%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: #000000 1px solid">
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA255><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Teresa Kroll, Chief Marketing and Entertainment Bear</FONT></P></TD>
<TD style="BORDER-BOTTOM: medium none; BORDER-LEFT: #000000 1px; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: #000000 1px">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA257><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">11,592</FONT></P></TD>
<TD style="BORDER-BOTTOM: medium none; BORDER-LEFT: #000000 1px solid; WIDTH: 28%; VERTICAL-ALIGN: top; BORDER-TOP: medium none">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA259><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">11,592</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA262><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA264><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The number of shares of time-based restricted stock awarded to each officer was derived by dividing 50% of the officer's target value by the product of (i) the closing sales price of the Company's common stock on the New York Stock Exchange on March&nbsp;20, 2012 multiplied by (ii) 0.91, the valuation factor calculated by the Committee's compensation consultant. </FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA265><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA266><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The target number of shares of performance-based restricted stock awarded to each officer was derived by dividing 50% of the officer's target value by the product of (i) the closing sales price of the Company's common stock on the New York Stock Exchange on March&nbsp;20, 2012 multiplied by (ii) 0.91, the valuation factor calculated by the Committee's compensation consultant. The number of performance-based restricted stock shares, if any, that will be earned by each respective named executive officer will be calculated by multiplying the target number of shares awarded to such named executive officer set forth above by the applicable Percentage of Target Value of Performance-Based Restricted Stock Earned Calculation set forth in in column (3) below for fiscal 2012 earnings per share.</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA267><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</P>
<DIV style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" id=PGBK359 >
<DIV style="TEXT-ALIGN: center; WIDTH: 100%" id=PGFTR359 >&nbsp;</DIV>
<DIV style="TEXT-ALIGN: center; WIDTH: 100%; DISPLAY: inline; FONT-SIZE: 10pt" id=PGNUM359 >4</DIV>
<HR style="PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noShade>

<DIV style="TEXT-ALIGN: left; WIDTH: 100%" id=PGHDR359 >&nbsp;</DIV></DIV>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA267></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA359>&nbsp;<FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA269><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>Fiscal 2012 Performance-Based Restricted Stock Payout-Earnings Per Share</U></FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA270><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<TABLE style="WIDTH: 80%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 10%; CLEAR: both; FONT-SIZE: 10pt; MARGIN-RIGHT: 10%" id=TBL306  border=0 cellSpacing=0 cellPadding=0>

<TR>
<TD style="WIDTH: 30%; VERTICAL-ALIGN: bottom" width=276>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA271><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(1)</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA272><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA273><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA274><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>Achievement Level</U></FONT></P></TD>
<TD style="WIDTH: 23%; VERTICAL-ALIGN: bottom" width=215>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA276><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(2)</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA277><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA278><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Earnings Per </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>Share</U></FONT></P></TD>
<TD style="WIDTH: 47%; VERTICAL-ALIGN: bottom" width=439>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(3)<BR>Percentage of Target Value of </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Performance-Based Restricted Stock Earned </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>Calculation</U></FONT></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 30%; VERTICAL-ALIGN: top" width=276>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA281><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Below Threshold</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 23%; VERTICAL-ALIGN: top" width=215>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA283><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Less than $0.06 per share</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 47%; VERTICAL-ALIGN: top" width=439>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA285><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">0%</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 30%; VERTICAL-ALIGN: top" width=276>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA288><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Threshold</FONT></P></TD>
<TD style="WIDTH: 23%; VERTICAL-ALIGN: top" width=215>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA290><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$0.06 per share</FONT></P></TD>
<TD style="WIDTH: 47%; VERTICAL-ALIGN: top" width=439>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA292><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">50%</FONT></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 30%; VERTICAL-ALIGN: top" width=276>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA294><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Target</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 23%; VERTICAL-ALIGN: top" width=215>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA296><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$0.32 per share</FONT></P></TD>
<TD style="BACKGROUND-COLOR: #cceeff; WIDTH: 47%; VERTICAL-ALIGN: top" width=439>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA298><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">100%</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 30%; VERTICAL-ALIGN: top" width=276>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA300><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Maximum</FONT></P></TD>
<TD style="WIDTH: 23%; VERTICAL-ALIGN: top" width=215>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA302><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">$0.69 per share</FONT></P></TD>
<TD style="WIDTH: 47%; VERTICAL-ALIGN: top" width=439>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA304><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">200%</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA307><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 35.9pt; MARGIN: 0pt" id=PARA310><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Upon receipt of his or her 2012 long-term incentive award, each named executive officer entered into a Build-A-Bear Workshop, Inc. Restricted Stock &amp; Non-Qualified Stock Option Agreement (the &#147;Agreement&#148;) with the Company. Each Agreement provides that the time-based restricted stock and any performance-based restricted stock that is earned vest at the rate of 25%&nbsp;per year over four years from the date of grant, beginning on the first anniversary of the date of grant; vesting is accelerated upon a change of control or, in certain circumstances, upon the holder's death or termination of employment with the Company due to disability. Holders of time-based restricted stock and performance-based restricted that has been earned are entitled to voting and dividend rights. </FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA311><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 35.9pt; MARGIN: 0pt" id=PARA312><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The foregoing summary of the Agreement is qualified in its entirety by reference to such agreement, a copy of which is filed as Exhibit 10.2 to the Company's Current Report on Form 8-K filed on March 28, 2011 and incorporated herein by reference.</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA313><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<DIV style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" id=PGBK319 >
<DIV style="TEXT-ALIGN: center; WIDTH: 100%" id=PGFTR319 >&nbsp;</DIV>
<DIV style="TEXT-ALIGN: center; WIDTH: 100%; DISPLAY: inline; FONT-SIZE: 10pt" id=PGNUM319 >5</DIV>
<HR style="PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noShade>

<DIV style="TEXT-ALIGN: left; WIDTH: 100%" id=PGHDR319 >&nbsp;</DIV></DIV>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA319>&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA320><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">SIGNATURES</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA321><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 35.9pt; MARGIN: 0pt" id=PARA322><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA323><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA335><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT></P>
<TABLE style="WIDTH: 100%" id=DTAB338  border=0 cellSpacing=0 cellPadding=0>

<TR>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 49%" width=519 colSpan=3></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 1%" width=41></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 4%" width=51></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 1%" width=6></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 45%" width=610 colSpan=5>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA324><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">BUILD-A-BEAR WORKSHOP, INC.</FONT></P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 49%" width=519 colSpan=3></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 1%" width=41></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 4%" width=51></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 1%" width=6></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 45%" width=610 colSpan=5>&nbsp; </TD></TR>
<TR>
<TD style="TEXT-ALIGN: left; WIDTH: 49%" width=519 colSpan=3>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA339><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Date: March 26, 2012</FONT> <FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P></TD>
<TD style="TEXT-ALIGN: left; WIDTH: 1%" width=41>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA342><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P></TD>
<TD style="TEXT-ALIGN: left; WIDTH: 4%" width=51>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA343><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">By:</FONT></P></TD>
<TD style="TEXT-ALIGN: left; WIDTH: 1%" width=6>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA344><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; WIDTH: 45%" width=610 colSpan=5>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA345><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">/s/ Tina Klocke</FONT> <FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT></P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 49%" width=519 colSpan=3></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 1%" width=41></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 4%" width=51></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 1%" width=6></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 45%" width=610 colSpan=5>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA350><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Name: Tina Klocke </FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA351><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Title: Chief Operations and Financial Bear, Secretary and Treasurer</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA352><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(Principal Financial Officer)</FONT></P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 49%" width=519 colSpan=3></TD>
<TD style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; WIDTH: 1%" width=41></TD>
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