What specific document must the Cicis franchisee have executed immediately prior to the 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 is executed to supplement and amend a certain Franchise Agreement. The franchisee must have executed the Franchise Agreement immediately prior to the execution of the Underperforming Incentive Program Addendum. The addendum itself references the Franchise Agreement as the document it is designed to amend and supplement.
This means that before a Cicis franchisee can take advantage of the Underperforming Incentive Program, they must already have a Franchise Agreement in place. The Underperforming Incentive Program Addendum modifies the terms of this existing agreement to provide incentives for franchisees whose restaurants are not performing as expected.
Prospective franchisees should carefully review the terms of both the Franchise Agreement and the Underperforming Incentive Program Addendum to understand their rights and obligations. It is important to understand the specific criteria and requirements for participating in the Underperforming Incentive Program, as well as the potential benefits and risks involved.