Does Engel & Volkers have the right to change the list of required items periodically?

ve to use the standard Engel & Völkers e-mail addresses and signatures which are used for communication purposes. See Item 11.

For the operation of your Engel & Völkers Real Estate Brokerage, you must purchase furniture, office equipment, signage, supplies and other products and services, etc. used in your real estate business that meet the specifications described in the System Documentation. We have the right to change the list of items periodically. We have specific corporate identity standards for the furniture, fixtures and equipment that you have to use in your Residential Real Estate Brokerage described in our System Documentation.

One or more of our officers may own nominal interests in certain of our suppliers that are public companies.

You will need to maintain in effect at all times during the term of the Franchise Agreement a policy or policies of insurance, naming us as an additional insured, with public liability limits of no less than the following amounts: professional liability (real estate errors and omissions) – $2,000,000 each occurrence, bodily injury - $2,000,000 each person; $2,000,000 each accident, and property damage - $2,000,000 each accident. We also recommend a cyber risk /data breach insurance. You must also maintain workers' compensation and other liability insurance as required by state law. We may periodically add to, modify, or delete the types and amounts of insurance coverage that you must maintain. Upon delivery of written notice you must immediately purchase insurance that conforms with the new standards.

We will issue and modify standards and specifications through the System Documentation as it deems necessary or appropriate for management, marketing, operations and management efficiency. We may set requirements and restrictions on advertising, promotion and other activities that we determine, in our business judgment, negatively impacts the business of one or more other franchisees or that is specifically targeted or directed towards the protected areas of one or more other franchisees. Such requirements and restrictions are intended to balance the ability of franchisees to freely compete in the marketplace and the right of a franchisee to operate within its protected area without undue interference from other franchisees. You will be informed of new or modified standards in different ways, including via email, letters or in-house brochures, or by way of conferences.

We reserve the right to designate or approve one or more third parties (a "Supplier" or "Suppliers"), or ourselves or one of our respective affiliates, to supply you with certain products and services using the Trademarks. If we designate or approve a supplier, you may purchase the categories of products or services using the Trademarks from Suppliers so designated, however, you may also purchase certain products and services using the Trademarks from other suppliers, as long as they are approved by us. We are not the only approved supplier for any category of goods or services. Our affiliate Grund Genug Verlag is the only approved supplier of GG Magazine as described above.

We may designate or approve a Supplier of any products or services to be used in your franchised business. We may concentrate purchases with one or more Suppliers to obtain lower prices, better advertising support and/or better services for any group of your business. If you propose to contract for or purchase products or services from any supplier that we have not previously designated or approved, you must notify us in writing and submit to us all information, specifications and samples that we request.

Source: Item 8 — RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES (FDD pages 38–40)