What schedules are included as part of the Carvel Franchise Agreement under Exhibit B?

According to Carvel's 2025 Franchise Disclosure Document, Exhibit B includes the Carvel Franchise Agreement and its related agreements. Specifically, Schedule A outlines the Franchise Specific Terms, detailing aspects unique to the franchisee's operation. Schedule B focuses on Personal Covenants, which are agreements made by individuals with equity in the franchise. Schedule C provides a Guaranty of Payment and Performance, ensuring financial obligations are met. Schedule D includes a State Law Addendum, applicable if required by the franchisee's state. Lastly, Schedule E contains a Multi-Unit Addendum, which is relevant for franchisees operating multiple Carvel locations.

Prospective franchisees should carefully review each schedule as they contain important legal and financial obligations. Understanding the Franchise Specific Terms in Schedule A is crucial for grasping the individual operational requirements. The Personal Covenants in Schedule B highlight the responsibilities of those with an equity interest, while the Guaranty in Schedule C ensures financial security for Carvel. The State Law Addendum in Schedule D ensures compliance with local regulations, and the Multi-Unit Addendum in Schedule E outlines the terms for franchisees with multiple units.

It is important to note that these schedules are incorporated into the Carvel Franchise Agreement, making them legally binding. Franchisees must adhere to the terms outlined in each schedule to remain in compliance with the agreement. Consulting with a legal professional is advisable to fully understand the implications of each schedule and how they apply to the franchisee's specific situation. This ensures that franchisees are well-informed and prepared to meet their obligations under the Carvel Franchise Agreement.