What are the two possible events that can cause the Term of the Bigfoot Forestry agreement to expire?

According to Bigfoot Forestry's 2025 Franchise Disclosure Document, the Term of the agreement, which defines its duration, can end due to two possible events. The agreement begins on the Effective Date and concludes when one of the following occurs first: either the 10th anniversary of the Effective Date, or the date the agreement is effectively terminated.

For a prospective Bigfoot Forestry franchisee, this means the franchise agreement has a defined lifespan. Typically, franchise agreements have a set term, often 10 years, with options to renew if both parties agree. The inclusion of an earlier termination date provides a mechanism for ending the agreement prematurely under certain circumstances, which are usually related to breaches of contract or other significant issues.

It is important for a potential Bigfoot Forestry franchisee to understand the conditions under which the agreement can be terminated early, as this could have significant financial and operational implications. Understanding these terms is crucial for assessing the risks and benefits associated with investing in a Bigfoot Forestry franchise.