Can Floyds 99 materially change the terms of the development agreement for the transferee?

According to the 2025 Floyds 99 Franchise Disclosure Document, if a developer wishes to transfer their rights under the Development Agreement, Floyds 99 has a right of first refusal. If there is any material change in the terms or conditions of the proposed transfer, it is considered a separate offer, which triggers a new 90-day right of first refusal for Floyds 99.

This means that if a developer finds a buyer for their development rights, Floyds 99 has the option to match the buyer's offer and purchase the rights themselves. However, if the terms of the deal change materially at any point during the transfer process, Floyds 99 gets another 90 days to decide whether to exercise their right of first refusal based on the revised terms.

For a potential Floyds 99 developer, this clause ensures that Floyds 99 retains control over who becomes a developer in their system. It also allows Floyds 99 to reassess the transfer if the terms change, protecting their interests and the integrity of the franchise system. The developer needs to be aware that any changes in the deal terms could delay the transfer process due to the renewed right of first refusal.