What is the name of the exhibit to the Franchise Agreement that covers the guaranty and assumption of obligations for Aw?

According to Aw's 2025 Franchise Disclosure Document, Exhibit 2 to the Franchise Agreement is titled "Guaranty and Assumption of Obligations." This exhibit is significant because it outlines the personal guarantees required from the franchisee or, if the franchisee is an entity, from its owners. This means that the individuals signing the guaranty are personally liable for the franchise's financial and operational obligations.

The "Guaranty and Assumption of Obligations" ensures that Aw has recourse to the personal assets of the franchisee or its owners if the franchise fails to meet its obligations under the Franchise Agreement. These obligations include, but are not limited to, making payments, adhering to operational standards, and fulfilling all covenants outlined in the agreement. The individuals providing the guaranty agree to be bound by and personally liable for any breaches of the Franchise Agreement.

This requirement is a common practice in franchising, as it provides an additional layer of security for the franchisor. It is especially relevant when the franchisee is a business entity, as it ensures that there is a direct line of responsibility to individuals who have a vested interest in the success of the franchise. Prospective Aw franchisees should carefully review Exhibit 2 with their legal and financial advisors to fully understand the implications of providing a personal guaranty.