For Benihana, from which document is the information regarding Item 13, 'Certain Relationships and Related Transactions, and Director Independence' incorporated?

According to Benihana's 2024 Franchise Disclosure Document, the information required for Item 13, which pertains to 'Certain Relationships and Related Transactions, and Director Independence,' is incorporated by reference. Specifically, this information is derived from the Company's Proxy Statement for the 2024 Annual Meeting of Stockholders.

This means that instead of providing a detailed explanation within the FDD itself, Benihana directs prospective franchisees to a separate document, the Proxy Statement, for information on these topics. The Proxy Statement typically includes details about any relationships or transactions between the company and its directors or related parties, as well as information about the independence of the directors.

For a potential Benihana franchisee, it is crucial to obtain and carefully review the referenced Proxy Statement to understand these relationships and independence matters. This information can provide insights into potential conflicts of interest, the governance structure of the company, and the oversight provided by the board of directors. Understanding these aspects can help a franchisee assess the overall stability and ethical standards of the Benihana franchise system.