In the context of the Hardees Renewal Addendum, who are identified as 'Guarantors'?

According to Hardees's 2025 Franchise Disclosure Document, specifically within the Renewal Addendum, Guarantors are defined as the individuals or entities who have guaranteed the Franchisee's obligations under the Franchise Agreement. The Renewal Addendum is an agreement entered into simultaneously with the Franchise Agreement, modifying certain provisions of the original agreement.

In essence, these Guarantors provide a form of security to Hardees, ensuring that the financial and operational commitments of the franchisee are met. This is a common practice in franchising, particularly when the franchisee is a business entity rather than an individual with substantial personal assets. The specific obligations of the Guarantors would be detailed in the guarantee agreement itself.

Prospective Hardees franchisees should carefully review the Franchise Agreement and any related guarantee agreements to fully understand the scope of the Guarantors' responsibilities and potential liabilities. It is important to note that the general release within the agreement extends to these guarantors, releasing Hardees from claims, further emphasizing the importance of understanding the agreement's implications.