What is the term of the Ben Jerrys Development Agreement, as defined by the Development Schedule in Exhibit A?

According to Ben Jerrys's 2025 Franchise Disclosure Document, the term of the Development Agreement is determined by the last date specified in the Development Schedule, as outlined in Exhibit A. This means the agreement's duration is directly tied to the timeline for opening new Ben Jerrys locations within a defined development area.

For a prospective franchisee, this implies that the Development Agreement's length is not a fixed period but rather depends on the agreed-upon schedule for establishing new Ben Jerrys stores. The franchisee must adhere to the Development Schedule to maintain the agreement's validity. Failure to meet the requirements of the Development Schedule is defined as a non-curable default, which could lead to termination of the agreement.

This structure incentivizes developers to promptly and efficiently establish their franchised locations. It is important for potential Ben Jerrys developers to carefully review Exhibit A and fully understand the Development Schedule before signing the agreement. They should also consider whether the schedule is realistic and achievable given their resources and capabilities.

Unlike a standard franchise agreement with a fixed term, the Development Agreement's term is variable and linked to performance. This arrangement can be advantageous for both Ben Jerrys and the developer, aligning their interests in expanding the brand's presence while holding the developer accountable for meeting agreed-upon milestones.