Regarding the Bonchon franchise agreement, what further actions are the parties required to perform?

We grant you, and you accept, the right to use the Proprietary Marks and the System in connection with establishing and operating a Bonchon Business and Restaurant from the Restaurant Location specified in Section 3.01 of this Agreement. You agree to use the Proprietary Marks and Bonchon System as we may change, improve, modify or further develop them from time to time as provided in this Agreement, and to operate your Bonchon Business and its Restaurant only in accordance with the terms and conditions of this Agreement and all related agreements, the Manuals and any Supplement to the Manuals. You further agree to honestly and diligently perform your obligations under this Agreement and to use your best efforts to promote the Restaurant.

You agree to act in good faith and use your best efforts to comply with your obligations under this Agreement, and to cooperate with us in accomplishing the purposes of this Agreement.

Prior to you (or your affiliate) opening your third Bonchon Business, you must designate in writing to us an "Area Manager" who will have the obligation to oversee operations of each Bonchon Restaurant that you and/or your affiliates own and operate. Prior to engaging the services of an Area Manager, you must identify such individual to us. The Area Manager must be certified to manage multi-unit operations. Your Area Manager must also have first attended, received and hold a current Bonchon approved nationally accredited food manager certification in addition to any safe food handling courses required by the local municipality in which the subject Restaurant is located. Once your Area Manager has obtained its Bonchon approved nationally accredited food manager certification, then your Area Manager must attend and successfully complete our Initial Training Program and such additional training that we may require (as described in the first Franchise Agreement we sign for your first Bonchon Business, attached hereto as Exhibit B) prior to the opening of your third Bonchon Business.

Your right to enter into a Successor Franchise Agreement will be conditioned on the following:

• B. You must notify us in writing no more than nine months and no less than six months before the expiration of the Initial Term of this Agreement of your intent to enter into

Throughout the Initial Term and at the time of your successor term ("Successor Term") you (and your affiliates) must have performed all of your obligations and been, according to our business judgment, in compliance with the terms of this Agreement, the Manuals and other agreements between you (or your affiliates) and us or our affiliates;

• D. At the time of your Successor Term you (and your affiliates) must be current on the payment of all monetary obligations to us, our affiliates, the lessor or sublessor of your Bonchon Restaurant and any material third party supplier of yours;

• E. Before the commencement of the applicable Successor Term, you must, at your cost and expense, refurbish, redesign and/or remodel your franchised Bonchon Restaurant as we reasonably require to meet our then current standards, requirements and specifications (including, without limitation, refurbishing, repairing or replacing all equipment, electronic cash register systems, Computer and Point of Sale System and Other Technology, signs, interior and exterior decor items, fixtures, furnishings, supplies and other products and materials required for the operation of the Restaurant and otherwise upgrading the Restaurant as we reasonably require to reflect our then-current System standards and the image of the System);

• F. You and/or your Operating Principal (as applicable) and any other management and staff we designate must attend and successfully complete any training that we may reasonably require, at your expense;

• G. You must pay us a successor term fee of 25% of our then-current Initial Franchise Fee for Bonchon Businesses;

• H. That the assignee executes a new Bonchon Franchise Agreement, and all other agreements required of new franchisees, in the form and on the terms and conditions we then offer to prospective franchisees, which terms and conditions may vary significantly from this Agreement.

Notwithstanding the foregoing, you understand and agree that you will remain fully liable and responsible for all of your obligations to us and our affiliates under this Agreement which arose in connection with the operation of your franchised Business prior to the

Source: Item 23 — RECEIPTS (FDD pages 92–536)