What is the full name of the agreement that Fat Shack Inc. uses for termination and release?
Fat_Shack Franchise · 2025 FDDAnswer from 2025 FDD Document
| This Acknowledgment of Termination and Release Agreement ("Agreement") is entered into this day of, 202, between FAT SHACK INC., a Delaware corporation ("Franchisor") and ("Franchisee"). The Franchisee and the Franchisor will collectively be |
|---|
| referred to herein as the "Parties." |
| RECITALS |
| WHEREAS, Franchisor and Franchisee entered into that certain franchise agreement ("Franchise |
| Agreement") dated, 20, in which Franchisor granted Franchisee the right to |
| operate a FAT SHACK Restaurant in the authorized territory ("Protected Territory") described in |
| Exhibit 1 of the Franchise Agreement; and |
| WHEREAS, on 202, Franchisee's rights under the terms of the Franchise |
| Agreement were terminated ("Termination") as a result of |
| WHEREAS, the Parties desire to enter into this Agreement for the purpose of acknowledging the |
| Termination; acknowledging Franchisor's retention of all rights and remedies under the Franchise |
| Agreement including, but not limited to, Franchisor's right to retain all of any type set forth in the |
| Franchise Agreement or any related agreements and right to audit Franchisee's books and records; and |
| fully and finally resolving all legal and equitable claims, known or unknown, of Franchisee existing |
| against Franchisor that were or could have been asserted by Franchisee in any action. |
Source: Item 23 — Receipts (FDD pages 53–223)
What This Means (2025 FDD)
According to Fat Shack's 2025 Franchise Disclosure Document, the full name of the agreement used for termination and release is the "Acknowledgment of Termination and Release Agreement." This agreement is entered into between Fat Shack Inc. as the Franchisor and the Franchisee.
The agreement serves to acknowledge the termination of the franchise agreement and to confirm that Fat Shack retains all rights and remedies under the original franchise agreement. This includes the right to retain any payments and the right to audit the franchisee's books and records.
Furthermore, the agreement aims to fully resolve all legal claims the franchisee may have against Fat Shack. By signing this agreement, the franchisee releases Fat Shack from any and all claims, known or unknown, that they may have had against the franchisor. This release covers a wide range of potential claims, including those related to the Fat Shack restaurant, the franchise documents, or any other contractual relationship between the franchisee and Fat Shack.