Is there a General Release Agreement included as Exhibit H for Healthsource Chiropractic?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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"). |
| WITNESSETH |
| WHEREAS, the Parties previously entered into that certain Franchise Agreement, |
| dated, 20 (the "Agreement") granting Franchisee a single |
| HealthSource Chiropractic |
| Clinic |
| franchise of Franchisor for a specific Term (as defined |
| in the Agreement); and |
| WHEREAS, Franchisee desires to renew the Agreement for an additional Term (as |
| defined in the Agreement); and |
| WHEREAS, Section 2.4(c) of the Agreement requires Franchisee and each of its |
Source: Item 22 — Contracts (FDD page 77)
What This Means (2025 FDD)
According to the 2025 Healthsource Chiropractic Franchise Disclosure Document, there is a General Release Agreement. The document references a General Release Agreement between HealthSource Chiropractic, LLC, as the Franchisor, and the Franchisee, along with the Franchisee's shareholders/members/partners, collectively referred to as the Parties. This agreement is made and entered into on a specific day in 20.
The General Release Agreement is related to a prior Franchise Agreement, dated in 20, where the Franchisee was granted a single HealthSource Chiropractic Clinic franchise for a defined term. The agreement is relevant when the Franchisee wants to renew the Franchise Agreement for an additional term, as stated in Section 2.4(c) of the original agreement.
Prospective franchisees should carefully review the General Release Agreement to understand its implications, especially concerning their rights and obligations upon renewal or termination of the franchise agreement. It is important to seek legal counsel to fully comprehend the terms and conditions outlined in the agreement before signing.