0000950152-09-003378 Sample Contracts

AGREEMENT AND GENERAL RELEASE
General Release Agreement • April 1st, 2009 • Borders Group Inc • Retail-miscellaneous shopping goods stores • Michigan

Borders Group, Inc., its affiliates, subsidiaries, divisions, successors and assigns and the past, present and future employees, officers, employee benefit plans, fiduciaries, shareholders, directors, agents, attorneys and insurers thereof, both individually and in their official capacities (collectively referred to throughout this Agreement and General Release as “Borders” or “Employer”) and Kenneth H. Armstrong (referred to throughout this Agreement and General Release as “Employee” and more specifically defined in paragraph 6) agree that:

SEPARATION AGREEMENT AND GENERAL RELEASE
Separation Agreement • April 1st, 2009 • Borders Group Inc • Retail-miscellaneous shopping goods stores • Michigan

Borders Group, Inc., its affiliates, subsidiaries, divisions, successors and assigns and the past, present and future employees, officers, employee benefit plans, fiduciaries, shareholders, directors, agents, attorneys and insurers thereof, both individually and in their official capacities (collectively referred to throughout this Separation Agreement and General Release as “Borders”) and Robert P. Gruen (referred to throughout this Separation Agreement and General Release as “Executive” and more specifically defined in paragraph 5) agree that:

SEPARATION AGREEMENT AND GENERAL RELEASE
Separation Agreement • April 1st, 2009 • Borders Group Inc • Retail-miscellaneous shopping goods stores • Michigan

Borders Group, Inc., its affiliates, subsidiaries, divisions, successors and assigns and the past, present and future employees, officers, employee benefit plans, fiduciaries, shareholders, directors, agents, attorneys and insurers thereof, both individually and in their official capacities (collectively referred to throughout this Separation Agreement and General Release as “Borders”) and Edward Wilhelm (referred to throughout this Separation Agreement and General Release as “Executive” and more specifically defined in paragraph 5) agree that: