What information regarding the franchisee is required to be entered into the Cinch I.T. amendment?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
tem Standards; and that You will promptly notify Us if any of them shall at any time during the Term of this Agreement divest themselves of ownership, partnership, membership, employment, or contractual obligations as the case may be, with You. You shall amend Addendum B and submit the amended Addendum to Us whenever there is any change in Your list of Key Employees. We reserve the right to require certain individuals to be included in Your list of Key Employees.
We possess certain proprietary Confidential Information consisting of the Marks, the Intellectual Property, Our System Standards, and other methods, techniques, formats, specifications, procedures, information, systems, methods of business management, sales and promotion techniques and knowledge of and experience in the operation and franchising of CINCH I.T. franchised businesses (the "Confidential Information").
Source: Item 23 — RECEIPTS (FDD pages 60–269)
What This Means (2024 FDD)
According to the 2024 Cinch I.T. Franchise Disclosure Document, the franchisee is required to amend Addendum B and submit the amended addendum to Cinch I.T. whenever there is a change in the list of Key Employees. Cinch I.T. also reserves the right to require certain individuals to be included in the franchisee's list of Key Employees.
Each of the individuals designated in Addendum B, no matter when so listed, shall be jointly and severally responsible for operating the franchised business in accordance with Cinch I.T.'s System Standards and the Franchise Agreement. The franchisee represents and warrants that each of the individuals designated in Addendum B will at all times abide by the System Standards, the Agreement, and the Licensed Rights.
The franchisee must at all times assume personal responsibility for their continued compliance with those System Standards and must promptly notify Cinch I.T. if any of them shall at any time during the Term of this Agreement divest themselves of ownership, partnership, membership, employment, or contractual obligations as the case may be, with the franchisee.