What is the agreement date referenced in the Healthsource Chiropractic General Release Agreement?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
federal and various state income tax returns. The Company is no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2020.
NOTE T – LITIGATION:
The Company has been involved in litigation in the normal course of business. In the opinion of management, liability resulting from such proceedings would not have a material adverse affect on the Company financial statements.
NOTE U – SUBSEQUENT EVENTS:
Management has evaluated subsequent events through March 26, 2025, the date the financial statements were available to be issued and concluded that there are no subsequent events that require disclosure in the notes to the financial statements.
EXHIBIT H
GENERAL RELEASE AGREEMENT
(For Clinic Franchises)
| THIS GENERAL RELEASE AGREEMENT ("Release") is made and entered into this day of, 20, by and between HealthSource Chiropractic, LLC, an Ohio limited liability company ("Franchisor"), and |
|---|
| , |
| a |
| corporation/limited |
| liability |
| company/partnership |
| (circle |
| one) |
| ("Franchisee"), |
| and |
| each |
| shareholder/member/partner of Franchisee (individually, an "Owner," |
| and collectively, |
| the "Owners") (collectively, Franchisor, Franchisee, and the Owners are referred to |
| hereinafter as the "Parties"). |
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
According to the 2025 Healthsource Chiropractic Franchise Disclosure Document, the General Release Agreement references a prior Franchise Agreement. This prior agreement is noted as being "dated , 20 (the 'Agreement') granting Franchisee a single HealthSource Chiropractic Clinic franchise of Franchisor for a specific Term (as defined in the Agreement)." The date is left blank in the General Release Agreement.
This agreement is part of the renewal process, as the document states that the franchisee desires to renew the agreement for an additional term. Section 2.4(c) of the agreement requires the franchisee to execute the General Release Agreement.
Prospective franchisees should note that the specific date of the original Franchise Agreement is not pre-filled in the General Release Agreement provided in the FDD. It is important to clarify this date with Healthsource Chiropractic during the renewal process to ensure accurate documentation and understanding of the agreement's terms.