What is the definition of 'Owner' in the context of the Bigfoot Forestry franchise agreement?

According to Bigfoot Forestry's 2025 Franchise Disclosure Document, an 'Owner' is defined as a person meeting specific criteria related to signing the agreement or possessing equity. This definition is important because the franchisor grants franchise rights based on the character, skill, attitude, business ability, and financial resources of both the franchisee and their Owners.

Specifically, the definition includes anyone who directly signs the Area Development Agreement as the area developer, either alone or with others. It also encompasses individuals who directly or indirectly own an equity interest in the Development Business or Developer Entity. Furthermore, someone who directly signs a Franchise Agreement as the franchisee, alone or with others, is considered an Owner. Finally, the definition extends to those who directly or indirectly own an equity interest in any affiliate that executes a Franchise Agreement as authorized by section 6 of the agreement.

This broad definition of 'Owner' has implications for transfers of ownership. Bigfoot Forestry requires prior approval for any transfer that is not considered a 'Permitted Transfer,' because the rights and duties created by the agreement are personal to the franchisee and the Owners. The franchisor relies on the character, skill, attitude, business ability, and financial resources of the franchisee and their Owners when granting franchise rights. This definition ensures that Bigfoot Forestry retains control over who is involved in the franchise and that all Owners meet their standards.