According to the 2025 Floyds 99 Franchise Disclosure Document, Floyd's 99 Franchising, LLC is identified as the assignee in the Lease Addendum. This means that in the Lease Addendum, Floyds 99 Franchising, LLC takes on the rights and responsibilities of the tenant under the lease agreement, should the franchisee default or under other specific conditions outlined in the lease and related agreements.

The Lease Addendum and Collateral Assignment of Lease are included as Exhibit L to the FDD. This legal document outlines the terms under which the lease for the Floyds 99 barbershop location can be transferred to Floyds 99 Franchising, LLC. This provides a safety net for Floyds 99, allowing them to maintain control of the location and continue operations if the franchisee is unable to do so.

For a prospective franchisee, this arrangement means that Floyds 99 has a vested interest in the success of their location. It also means that the franchisee must adhere to the terms of both the franchise agreement and the lease agreement to avoid the possibility of the lease being transferred to Floyds 99 Franchising, LLC. It is important for the franchisee to carefully review the Lease Addendum and understand the conditions under which Floyds 99 Franchising, LLC can assume the lease.