Is the office lease agreement for Beard Papas considered a long-term commitment?

Based on the 2025 FDD, the excerpts provided do not explicitly define the office lease agreement for a Beard Papas shop as a long-term commitment. However, the FDD excerpts do discuss the lease agreement in the context of site selection and the relationship between the landlord, tenant (franchisee), and Beard Papas.

Specifically, the Lease Agreement Rider in Exhibit 4 supplements and amends the lease, giving Beard Papas certain rights as a third-party beneficiary. These rights include the ability to assume or renew the lease under certain conditions, such as termination or expiration of the Franchise Agreement, or the franchisee's default. Additionally, the franchisee needs to obtain written consent from Beard Papas before transferring or assigning any interests in the lease or the leased premises.

While the FDD excerpts outline the conditions and stipulations surrounding the lease agreement, they do not specify the duration or terms that would qualify it as a 'long-term commitment.' To determine whether the lease is a long-term commitment, a prospective franchisee should review the actual lease agreement and any related documents, paying close attention to the lease term, renewal options, and any clauses that could impact the franchisee's obligations over an extended period. It would be prudent to discuss these details with Beard Papas during the due diligence process.