What document is the Existing Franchisee Incentive Addendum annexed to for Checkers?
Checkers Franchise · 2025 FDDAnswer from 2025 FDD Document
WHEREAS, Franchisee desires to qualify for, and to receive the benefits of, the Incentive in connection with its operation of the Franchised Restaurant under the Franchise Agreement; and
WHEREAS, the Parties now desire to modify the Franchise Agreement according to the terms and conditions set forth in this Addendum.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
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- Relationship to Franchise Agreement; Recitals. This Addendum shall be annexed to and form a part of the Franchise Agreement. All capitalized terms not otherwise defined in this Addendum shall have the meanings set forth in the Franchise Agreement. Except as modified by this Addendum, the Franchise Agreement remains in full force and effect. Any conflict between the provisions hereof and the Franchise Agreement shall be construed in favor of this Addendum. All references in this Addendum to "Sections," "Subsections," and/or "Exhibits" shall mean the applicable Section(s), Subsection(s), and/or Exhibit(s) of the Franchise Agreement, unless specified otherwise below. The Recitals above are incorporated into this Addendum by reference.
Source: Item 22 — CONTRACTS (FDD pages 91–92)
What This Means (2025 FDD)
According to Checkers' 2025 Franchise Disclosure Document, the Existing Franchisee Incentive Addendum is annexed to and forms a part of the Franchise Agreement. This means that the addendum modifies the original Franchise Agreement, and both documents should be read together to understand the franchisee's rights and obligations.
Specifically, the addendum outlines the terms and conditions under which an existing Checkers franchisee can receive an incentive, such as a reduction in the initial franchise fee. The terms in the addendum take precedence over the original franchise agreement.
For a prospective Checkers franchisee, this means that if they qualify for the Existing Franchisee Incentive, the terms of the Franchise Agreement will be altered by the addendum. It is important to carefully review both the Franchise Agreement and the Existing Franchisee Incentive Addendum to fully understand the agreement.