What is the purpose of adding the sentence to Section 8.2.f in the Floyds 99 agreement?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
| Developer is dated, 20 | This Rider to the Development Agreement by and between Floyd's 99 Franchising, LLC and | ||
|---|---|---|---|
| 1. | The following statement is added at the end of Section 8.2.f: | ||
| apply to any liability under the Maryland Franchise Registration and Disclosure Law. | Pursuant to the Code of Maryland Regulations (COMAR) 02.02.08.16L, the | ||
| general release required as a condition of renewal, sale and/or assignment/transfer shall not |
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, a rider to the development agreement for the state of Maryland includes a statement to be added at the end of Section 8.2.f. The purpose of this addition is to specify that the general release required as a condition of renewal, sale, and/or assignment/transfer shall not apply to any liability under the Maryland Franchise Registration and Disclosure Law, pursuant to the Code of Maryland Regulations (COMAR) 02.02.08.16L.
In simpler terms, this means that if a Floyds 99 developer in Maryland is renewing their agreement, selling their rights, or transferring the agreement, they are typically required to sign a general release. This release would normally waive all claims against Floyds 99. However, this specific addition ensures that the developer does not waive their rights or release Floyds 99 from any liabilities specifically related to violations of Maryland's franchise laws.
This provision protects Floyds 99 developers in Maryland by ensuring they retain their legal rights under Maryland franchise law, even when signing a general release for renewal, sale, or transfer of the development agreement. This type of state-specific addendum is common in franchise agreements to ensure compliance with local laws and protect the franchisee's rights within that state.