How are references to the Belocal brand and publications modified in the agreement to account for the Test Publication?

According to Belocal's 2025 Franchise Disclosure Document, when a franchisee is operating a "Test Publication", the franchise agreement is modified to reflect this arrangement. Throughout the agreement, the terms "Publication" and "N2 publications" will also include the "Test Publication". Any references to the Belocal brand and publications will instead refer to the Test Publication brand and test publications.

This means that the franchisee's rights and obligations are specifically tied to the Test Publication, and the success or failure of the test publication directly impacts the franchisee. Belocal retains the right to discontinue the Test Publication at any time without penalty or compensation to the franchisee. This highlights a significant risk for the franchisee, as their entire business is contingent on the franchisor's evaluation of the Test Publication.

Attachment B to the Franchise Agreement is deleted and replaced with Schedule 1 to the Test Publication Amendment. Any performance requirements for the Test Publication, such as minimum monthly commission, minimum number of pages, or minimum number of articles or qualified sales, will be outlined in the Franchise Brand Standards Manual. This ensures that the franchisee understands the specific metrics by which their performance will be judged during the test phase. If there are conflicts between the original Franchise Agreement and the Test Publication Amendment, the terms of the Amendment will take precedence.