What is the initial term length for the Exit Sales Representative Agreement?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
- a) Initial Term and Renewal. The term of this Agreement shall be for a period of 1 year from the date first written above. The Agreement will automatically be renewed for further periods of 1 year, unless terminated in writing by either party at least 60 days before the end of the term in effect. Upon renewal, the Renewal Form attached as Schedule 3 to this Agreement, or the most current Renewal Form, if it has been amended since the date of this Agreement, shall be completed by both parties
- b) Termination Without Cause. Either party may terminate this Agreement without cause, on giving not less than 30 days written notice to the other party.
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the initial term length for the Exit Sales Representative Agreement is one year from the date of signing. This means that the agreement between Exit and the sales representative is set for a fixed period of 12 months, providing a defined timeframe for the relationship.
Following the initial one-year term, the agreement automatically renews for additional one-year periods. This automatic renewal continues unless either Exit or the sales representative decides to terminate the agreement. To prevent automatic renewal, the terminating party must provide written notice to the other party at least 60 days before the end of the current term.
This renewal process ensures continuity unless a conscious decision is made to end the agreement. Upon each renewal, both parties are required to complete a Renewal Form, which is attached as Schedule 3 to the agreement, or the most current version of the Renewal Form if it has been amended. This formality ensures that both parties are aware of and agree to the terms of the renewal.
Either party also has the option to terminate the agreement without cause, provided they give at least 30 days written notice to the other party. This provides flexibility for both Exit and the sales representative to end the agreement before the end of the current term if circumstances warrant it.