According to the Bojangles addendum, what agreement is the addendum related to?
Bojangles Franchise · 2025 FDDAnswer from 2025 FDD Document
EQUIPMENT REIMBURSEMENT INCENTIVE PROGRAM ADDENDUM TO THE BOJANGLES DEVELOPMENT AGREEMENT
This Equipment Reimbursement Incentive Program Addendum (this "Addendum") to the Bojangles Development Agreement dated as of (the "Development Agreement") is made as of, by and between BOJANGLES OPCO, LLC, a Delaware limited liability company ("Franchisor"), and , a [State] [Entity Type] ("Developer"). RECITALS In order to encourage the development of franchised Bojangles restaurants ("Restaurants"), Franchisor has implemented an equipment reimbursement incentive program (the "Program"). Pursuant to the Development Agreement, Developer has agreed to develop and open three (3) or more Restaurants in the Assigned Area in accordance with the Development Schedule. pursuant to the Program. Franchisor and Developer are entering into this Addendum to modify the Development Agreement and to provide for Developer's receipt of the Program benefits offered by Franchisor NOW, THEREFORE, in consideration of the mutual covenants, agreements and obligations set forth below, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows: 1. Program Eligibility. In order to be eligible to receive, and continue receiving, the benefits of the Program, Developer acknowledges and agrees that it must satisfy the following conditions: A. 31, 2025 to develop at least three (3) new Restaurants; Developer must have signed the Development Agreement no later than December B. concessions from Franchisor or its affiliates; Developer may not participate in any other incentive programs under any other development agreements with Franchisor or its affiliates nor receive any other monetary C. If Developer executes multiple new development agreements with Franchisor simultaneously or in the same year, the Program will only apply to Developer's development agreement that has the most store commitments listed therein; and D. Franchisor and/or its affiliates. Developer and/or its affiliates must be in full compliance with the terms of the Development Agreement, any Franchise Agreement and any other agreement with 2. Program Benefits A. [Drafting Note: if the DA is for three or four restaurants] A "Qualifying Restaurant" is the first and second new Bojangles restaurants: (1) opened by Developer in the Assigned Area within four (4) years after the effective date of the Development
Source: Item 22 — CONTRACTS (FDD page 82)
What This Means (2025 FDD)
According to Bojangles' 2025 Franchise Disclosure Document, the Equipment Reimbursement Incentive Program Addendum modifies the existing Bojangles Development Agreement. This addendum is designed to provide benefits to developers who commit to opening at least three new Bojangles restaurants.
The addendum outlines specific conditions that developers must meet to be eligible for the incentive program. These conditions include signing the Development Agreement by a specific date (December 31, 2025), not participating in other incentive programs, and complying with all agreements with Bojangles and its affiliates. The program applies only to the development agreement with the most store commitments if a developer has multiple agreements.
For prospective Bojangles franchisees, this addendum represents a potential opportunity to receive equipment reimbursement incentives, provided they meet the outlined criteria. It is crucial for developers to understand all the conditions and obligations associated with the program to ensure eligibility and compliance. This type of incentive program is common in the franchise industry as a way for franchisors to encourage growth and expansion.