What agreement is detailed in Exhibit C of the Fly To Fit FDD?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
[This is our current standard form of General Release. This document is not signed when you purchase a franchise. In circumstances such as a renewal of your franchise or as a condition of our approval of a sale of your franchise, we may require you to sign a general release.]
This General Release ("Release") is executed by the undersigned ("Releasor") in favor of Fly To Fit Franchise, LLC, a Delaware Limited Liability Company ("Fly To Fit Franchise").
Background Statement: [describe circumstances of Release]
Releasor agrees as follows:
- **1.
Release.** Releasor (on behalf of itself and its parents, subsidiaries and affiliates and their respective past and present officers, directors, shareholders, managers, members, partners, agents, and employees (collectively, the "Releasing Parties")) hereby releases Fly To Fit Franchise, its affiliates, and their respective directors, officers, shareholders, employees, and agents (collectively, the "Released Parties") from any and all claims, causes of action, suits, debts, agreements, promises, demands, liabilities, contractual rights and/or obligations, of whatever nature, known or unknown, which any Releasing Party now has or ever had against any Released Party based upon and/or arising out of events that occurred through the date hereof, including without limitation, anything arising out of the Franchise Agreement (collectively, "Claims").
- **2.
Covenant Not to Sue.** Releasor (on behalf of all Releasing Parties) covenants not to initiate, prosecute, encourage, assist, or (except as required by law) participate in any civil, criminal, or administrative proceeding or investigation in any court, agency, or other forum, either affirmatively or by way of cross-claim, defense, or counterclaim, against any Released Party with respect to any Claim.
Source: Item 23 — RECEIPTS (FDD pages 44–134)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, Exhibit E details the form of the General Release agreement. This is Fly To Fit's current standard form of General Release. The document is not signed when a franchisee purchases a franchise.
The General Release is executed by the Releasor in favor of Fly To Fit Franchise, LLC. The Releasor, on behalf of itself and its affiliates, releases Fly To Fit Franchise from all claims and liabilities arising from events through the date of the release, including those related to the Franchise Agreement.
The Releasor also agrees not to participate in any legal proceedings against Fly To Fit Franchise. Fly To Fit Franchise may require a franchisee to sign a general release in circumstances such as a renewal of their franchise or as a condition of Fly To Fit's approval of a sale of their franchise.