Can the Degree Wellness agreement be terminated by mutual written consent of both parties?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
- 12.1 Licensed Provider will be deemed to be in default under this Agreement, and Management Company will have the right to terminate this Agreement effective upon delivery of notice of termination to Licensed Provider, subject only to any right to cure to the extent expressly set forth below, if:
- (a) Licensed Provider assigns or transfers this Agreement, or the ownership of Licensed Provider (if an entity) changes, without the prior written consent of Management Company;
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 63–66)
What This Means (2025 FDD)
Based on the 2025 Degree Wellness Franchise Disclosure Document, the agreement can be terminated under certain conditions. Specifically, the document outlines scenarios where the Licensed Provider (franchisee) is in default, allowing Management Company to terminate the agreement with notice.
However, the FDD excerpts provided do not explicitly state whether the Degree Wellness agreement can be terminated by mutual written consent of both parties. While the document details conditions under which the Management Company can terminate the agreement due to the Licensed Provider's default, it does not address the possibility of termination through mutual agreement.
Therefore, a prospective Degree Wellness franchisee should seek clarification from the franchisor regarding the possibility of terminating the agreement by mutual written consent. Understanding the conditions and procedures for such a termination is crucial for making an informed decision about investing in the franchise.