What agreement is included as Exhibit 1 to the Casiola Franchise Agreement?
Casiola Franchise · 2024 FDDAnswer from 2024 FDD Document
to this Agreement as Exhibit 1; and (b) Franchisee's directors, officers, employees and agents where disclosure of the Know-How was necessary for the operations of the Franchised Business and where such director, officer, employee and/or agent previously executed and timely delivered to Franchisor the Confidentiality Agreement in the form attached as Exhibit 2.
6.C. RESTRICTIVE COVENANTS: CONFIDENTIAL INFORMATION
Franchisee agrees that, at all times, both during the Term of this Agreement and after its expiration or termination, Franchisee: (a) shall not use the Confidential Information in any business or capacity other than the Casiola Business operated by Franchisee; (b) shall maintain the confidentiality of the Confidential Information at all times; (c) shall not make unauthorized copies of documents containing any Confidential Information; (d) shall take such reasonable steps as Franchisor may ask of Franchisee from time to time to prevent unauthorized use or disclosure of the Confidential Information; and (e) shall stop using the Confidential Information immediately upon the expiration, termination or Transfer of this Agreement. Franchisee agrees that the foregoing covenants and obligations shall also apply to: (a) Franchisee's Owners and that Franchisee's Owners shall each execute and deliver to Franchisor the Franchise Owner Agreement and Guaranty in the form attached to this Agreement as Exhibit 1; and (b) Franchisee's directors, officers, employees and agents where disclosure of the Confidential Information was necessary for the operations of the Franchised Business and where such director, officer, employee and/or agent previously executed and timely delivered to Franchisor the Confidentiality Agreement in the form attached as Exhibit 2.
Source: Item 22 — CONTRACTS (FDD page 47)
What This Means (2024 FDD)
According to the 2024 Casiola Franchise Disclosure Document, Exhibit 1 to the Franchise Agreement is the Franchise Owner Agreement and Guaranty. This agreement is referenced in the context of confidentiality and transfer scenarios. Specifically, it states that Franchisee's Owners must each execute and deliver to Franchisor the Franchise Owner Agreement and Guaranty in the form attached as Exhibit 1. Additionally, in the event of a transfer, each owner of the transferee shall personally execute the Franchise Owner Agreement and Guaranty in the form attached to this Agreement as Exhibit 1.
This agreement ensures that the obligations of the franchisee are guaranteed by the owners and that they are bound by confidentiality and non-competition restrictions. This is a common practice in franchising to protect the franchisor's interests and ensure the franchisee's commitment.
Prospective Casiola franchisees should carefully review the Franchise Owner Agreement and Guaranty to understand their obligations and liabilities as owners. They should also be aware that this agreement will apply to them individually, jointly, and severally with all others who sign it. Understanding the terms of Exhibit 1 is crucial for anyone considering investing in a Casiola franchise.