What happens when all parties have signed counterparts or copies of the Extreme Art Studio Module Amendment?

According to the 2024 Extreme Art Studio Franchise Disclosure Document, the Module Amendment to the Franchise Agreement can be executed in multiple counterparts. Each counterpart is considered an original, and all of them together form one and the same agreement. This means that Extreme Art Studio and the franchisee do not need to sign the exact same physical document. They can each sign separate copies (counterparts), and these copies, when combined, create a fully executed agreement.

Extreme Art Studio also states that faxed, scanned, or electronic signatures have the same effect and validity as original signatures. This allows for flexibility in the signing process, as the parties can use electronic means to sign and exchange the Module Amendment, which is a common practice in modern franchising to expedite the process and reduce administrative burdens.

This approach simplifies the amendment process, allowing Extreme Art Studio and its franchisees to efficiently add new service modules to the existing franchise agreement without needing to coordinate physical signatures on a single document. The use of counterparts and electronic signatures streamlines the legal formalities, making it easier for franchisees to expand their service offerings and for Extreme Art Studio to manage its franchise network.