Who are the parties included in the Degree Wellness general release agreement?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
| THIS GENERAL RELEASE AGREEMENT ("Release") is made and entered into this day of, 20, by and between Degree Wellness Franchise, |
|---|
| LLC, |
| a |
| Delaware |
| limited |
| liability |
| company |
| ("Franchisor"), |
| and |
| , |
| a |
| corporation/limited |
| liability |
| company/partnership |
| (circle |
| one) |
| ("Franchisee"), |
| and |
| each |
| shareholder/member/partner of Franchisee (individually, an "Owner," |
| and collectively, |
| the "Owners") (collectively, Franchisor, Franchisee, and the Owners are referred to |
| hereinafter as the "Parties"). |
| WITNESSETH |
| WHEREAS, the Parties previously entered into that certain Franchise Agreement, |
| dated, 20 (the "Agreement") granting Franchisee a single |
| Degree Wellness |
| Studio |
| franchise of Franchisor for a specific Term (as defined in the |
| Agreement); and |
| WHEREAS, Franchisee desires to renew the Agreement for an additional Term (as |
| defined in the Agreement); and |
| WHEREAS, Section 2.4(c) of the Agreement requires Franchisee and each of its |
| Owners to execute, in favor of Franchisor and its officers, directors, agents, and employees, |
| and Franchisor's affiliates and their officers, directors, agents, and employees, as a |
| condition to renew the Agreement, a general release from liability of all claims that |
| Franchisee and its Owners may have against Franchisor and its affiliates and their |
| respective officers, directors, employees, and agents; and |
| WHEREAS, the Parties desire to enter into this Release to comply with the |
| requirements of the Agreement and preserve Franchisee's eligibility to renew the |
| Agreement. |
| NOW, THEREFORE, in consideration of the mutual agreements contained herein |
| and other valuable consideration, the Parties hereby agree as follows: |
| 1. |
| Recitals. The foregoing Recitals are incorporated into and made part of this |
| Release. |
| 2. |
| Release. Franchisee and each Owner, on behalf of themselves and their |
| present or former affiliated entities, predecessors, successors, assigns, heirs, and personal |
| representatives, as well as all other persons, firms, corporations, limited liability |
| companies, associations or partnerships or other affiliated entities claiming by or through |
Source: Item 23 — Receipts (FDD pages 66–257)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, the general release agreement involves three main parties. These include Degree Wellness Franchise, LLC, identified as the Franchisor, and the Franchisee, which can be a corporation, limited liability company, or partnership. The third party consists of each shareholder, member, or partner of the Franchisee, who are individually referred to as an "Owner" and collectively as the "Owners." All these parties—the Franchisor, the Franchisee, and the Owners—are collectively referred to as the "Parties" within the agreement.
This agreement is required when a Degree Wellness franchisee seeks to renew their franchise agreement. As a condition of renewal, the franchisee and each of its owners must execute a general release from liability, which benefits Degree Wellness and its officers, directors, agents, employees, affiliates, and their respective personnel. This release covers all claims that the franchisee and its owners may have against Degree Wellness and its associated parties.
The purpose of this release is to comply with the requirements outlined in the original franchise agreement and to ensure the franchisee remains eligible for renewal. By entering into this release, all parties agree to the terms and conditions, with the recitals of the agreement incorporated into and made part of the release. This ensures that Degree Wellness is protected from potential liabilities as the franchise relationship continues.