What releases must a Golden Corral franchisee execute to be eligible for renewal?
Golden_Corral Franchise · 2025 FDDAnswer from 2025 FDD Document
severally | | | [SEAL] | | | , jointly and severally | |
EXHIBIT M
CURRENT FORM OF GENERAL RELEASE
Here is the form of General Release which, as of the date of this disclosure document, we are using for transactions referenced in the Franchise Agreement or Area Development Agreement for which a Franchisee or Area Developer is obligated to sign a release. We may, in our sole discretion, periodically modify this General Release.
For good and valuable consideration, receipt of which is hereby acknowledged, the undersigned franchisee ("Franchisee"), who hereby acknowledges having executed this General Release in good faith and with the benefit of advice of legal counsel pertaining to all rights and obligations hereunder and the consequences hereof, on the undersigned's behalf and on behalf of all of its successors, assigns, heirs, executors and administrators does hereby irrevocably remise, release and forever discharge generally Golden Corral Franchising Systems, Inc. and its predecessor(s), successor(s), parent(s), affiliates, assigns and all of their respective representatives, employees, officers, agents, servants, directors and stockholders (past, present or future) and each of them, of and from any and all claims, debts, liabilities, demands, damages, obligations, costs, expenses, actions and causes of action of every nature, character and description, known and unknown, vested or contingent, which the undersigned now own(s) or hold(s), or has at any time heretofore owned or held, or may at any time own or hold against any one or more of such releasees, arising out of or related to any and all matters, things or transactions of any kind at any time prior to and including the date the undersigned executed this General Release, including but not limited to those relating to the _______________________ Agreement dated ______________________ which document was originally issued to ___________________________________________ ______________________________. In addition, Franchisee hereby conveys, assigns and transfers to Franchisor's parent company, Golden Corral Corporation, all right, benefit, title and interest, if any, in and to all claims and/or causes of action that Franchisee may have relating to Franchisee's purchases from any and all distributors, manufacturers, suppliers, wholesalers and vendors supplying equipment, supplies, food and beverage items, services (including, without limitation, credit card interchange and/or processing fees and services), and other products and materials required for the operation of the Restaurant and, as the case may be, all other Golden Corral® restaurants now and at any time in the past franchised by Franchisor to Franchisee and/or or any of Franchisee's affiliates or predecessors-in-interest. The foregoing assignment provision shall not apply to Franchisee's state law product liability claims or any claims that Franchisee may have arising under original equipment manufacturer (OEM) product warranties or Restaurant-related construction or janitorial/maintenance services.
Source: Item 22 — CONTRACTS (FDD pages 84–85)
What This Means (2025 FDD)
According to the 2025 Golden Corral Franchise Disclosure Document, a franchisee must execute a General Release to be eligible for renewal. This release, signed in good faith with legal counsel, irrevocably discharges Golden Corral Franchising Systems, Inc., its predecessors, successors, parents, affiliates, assigns, representatives, employees, officers, agents, servants, directors, and stockholders from any and all claims, debts, liabilities, demands, damages, obligations, costs, expenses, actions, and causes of action. This includes those of every nature, character, and description, whether known or unknown, vested or contingent, that the franchisee owns, holds, has owned, or may own against the released parties. The release pertains to all matters, things, or transactions of any kind at any time prior to and including the date of execution, including those related to any agreement.
This General Release effectively severs any existing or potential legal ties between the franchisee and Golden Corral regarding past events. By signing this release, the franchisee relinquishes the right to pursue any claims against Golden Corral, which could include disputes over fees, operational issues, or any other aspect of the franchise agreement up to the date of the release.
The document also specifies that the General Release may be executed by electronic means, such as Adobe Sign, DocuSign, facsimile, or email in "pdf" or "tif" format, and such electronic execution is considered effective as delivery of a manually executed original counterpart. This provision streamlines the process, allowing for convenient and efficient execution of the release. The franchisee acknowledges that they are conveying and assigning to Golden Corral Corporation all rights, benefits, titles, and interests in any claims or causes of action related to purchases from distributors, manufacturers, suppliers, wholesalers, and vendors supplying equipment, supplies, food and beverage items, services, and other products required for the restaurant's operation. However, this assignment does not apply to state law product liability claims or claims arising under original equipment manufacturer (OEM) product warranties or Restaurant-related construction or janitorial/maintenance services.