On whom is the Degree Wellness Release binding?
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 the 2025 Degree Wellness Franchise Disclosure Document, the General Release Agreement is binding on several parties. Specifically, it is made between Degree Wellness Franchise, LLC, referred to as the Franchisor, and the Franchisee, which can be a corporation, limited liability company, or partnership.
Furthermore, the Release extends to each shareholder, member, or partner of the Franchisee, who are individually termed "Owner" and collectively referred to as "Owners." Therefore, the Release collectively binds the Franchisor, the Franchisee, and the Owners, who are all referred to as the "Parties."
This comprehensive Release is required as a condition to renew the Franchise Agreement, ensuring that all parties, including the franchisee and their owners, release Degree Wellness and its affiliates from liability regarding any claims. This requirement is outlined in Section 2.4(c) of the Franchise Agreement, emphasizing the importance of this Release for maintaining the franchisee's eligibility for renewal.