What is the definition of 'Parties' in the context of the Cicis Underperforming Incentive Program Addendum?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
On Smile LLC ("we") and the "Franchisee" identified below ("you" and, together with us, the "Parties") execute this Underperforming Incentive Program Addendum (the "Addendum") to supplement and amend that certain Franchise Agreement the Parties have executed immediately prior to the execution of this Addendum (as it might have otherwise been amended, the "Franchise Agreement"). The "Effective Date" of this Addendum is the same as the Effective Date of the Franchise Agreement. Terms used but not defined in this Addendum have the meanings given them in the Franchise Agreement. For valuable consideration, receipt and sufficiency of which are acknowledged, the Parties agree as follows:
Source: Item 23 — RECEIPTS (FDD pages 65–263)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, the Underperforming Incentive Program Addendum defines "Parties" as On Smile LLC ("we") and the "Franchisee" identified below ("you" and, together with us). This definition clarifies who is bound by the terms and conditions outlined in the addendum, specifically Cicis (referred to as "we") and the franchisee (referred to as "you").
This definition is important because it establishes the legal relationship between Cicis and the franchisee within the context of the Underperforming Incentive Program. By clearly defining the parties involved, the addendum ensures that both Cicis and the franchisee understand their respective rights and obligations under the agreement. This clarity helps to avoid potential disputes or misunderstandings regarding the application and enforcement of the program's terms.
For a prospective Cicis franchisee, understanding this definition is crucial for interpreting the entire Underperforming Incentive Program Addendum. It confirms that the franchisee, as an individual entity, is a direct party to the agreement and is therefore responsible for adhering to its provisions. This understanding is essential for making informed decisions about participating in the program and managing the franchise effectively.