ll be fully refunded.

• 1.8. Termination of this Agreement shall constitute a termination of the Franchise.

2. TERM AND RIGHT TO RENEW

• 2.1. This Agreement and the Franchise will have an initial term of ten (10) years from the Effective Date (the "Initial Term"), unless earlier terminated pursuant to Section 11.

• 2.2. Subject to the provisions of Section 2.3, Franchisee shall have the right to renew the Franchise, on the terms and conditions contained in Focus CFO's then-current Franchise Agreement.

• 2.3. Franchisee's right to renew the Franchise is conditioned on the following:

  • 2.3.1. Prior to the commencement of the renewal term, Franchisee executes general releases (to the extent permitted by applicable law), of any and all claims arising during or out of the Initial Term of this Agreement against Focus CFO and its officers, directors, employees, agents, parent corporations and affiliates;
  • 2.3.2. Franchisee has satisfied all Performance Standards as specified in Attachment E to the Franchise Agreement;

• 2.3.3. Franchisee is not in default of any provision of this Agreement or any other agreement with Focus CFO;

• 2.3.4. Franchisee shall execute Focus CFO's then-current Franchise Agreement (with modifications to reflect the fact that the agreement relates to the renewal of the Franchise) which may contain terms that are materially different than the terms of this Agreement. Failure to sign such agreement prior to the termination of the current Agreement shall be deemed an election by Franchisee not to renew the Franchise. Subject to the provisions of Section 12, below, Franchisee has the option to Transfer its Book of Business (as defined in Attachment A) to another franchisee at the end of the Initial Term. At its option, Focus CFO may elect to extend the term of this Agreement rather than entering into a new franchise agreement;

• 2.3.5. Franchisee pays a renewal fee in the amount of Two Thousand Five Hundred Dollars ($2,500). Such renewal fee shall be paid by Franchisee at the time of executing the then-current Franchise Agreement as set forth in Section 2.3.4; and

• 2.3.6. Franchisee satisfies any additional training and certification requirements required by Focus CFO.

3. TERRITORY AND OFFICE

• 3.1. Territory. Franchisee will receive a non-exclusive geographic territory for the operation of its Franchise (the "Home Territory").

Source: Item 23 — Receipts (FDD pages 37–126)