What is the latest date before which a Cicis franchisee can provide written notice to terminate the Franchise Agreement under the Underperforming Incentive Program?

According to the 2025 Cicis Franchise Disclosure Document, a franchisee participating in the Underperforming Incentive Program can provide written notice to terminate the Franchise Agreement at any time prior to the date that is 18 months after the Effective Date of the agreement. To be eligible, the franchisee and their affiliates must be in Good Standing from the Effective Date and remain so during the notice period. Good Standing means that the franchisee, their owners, and affiliates are not in default of the Franchise Agreement or any other agreement with Cicis or its affiliates, and have substantially and timely complied with all terms and conditions, including timely satisfaction of all monetary obligations.

The termination will be effective at the close of business on the 30th day following the delivery of the written notice. After termination, the franchisee must comply with all obligations under the Franchise Agreement that are triggered by or survive termination, except for the obligation to pay Lost Revenue Damages under Section 16.M of the Franchise Agreement.

This provision offers a Cicis franchisee some flexibility if their restaurant underperforms, allowing them to exit the agreement under specific conditions. However, it's crucial for franchisees to maintain Good Standing throughout the process to remain eligible for this termination option. The franchisee should carefully calculate the 18-month deadline from the Effective Date to ensure timely submission of the termination notice.