Does Hydrodog require approval for the transfer of an interest in the agreement or business in the event of death?

• (e) transfer of an interest in you, this Agreement or your HydroDog Business, in the event of your death or the death of one of your owners, by will, declaration of or transfer in trust or under the laws of intestate succession; or

• 15.5 Transfer Upon Death or Disability.

Upon your death or disability or, if you are a Business Entity, the death or disability of the owner of a controlling interest in you, your or such owner's executor, administrator, conservator, guardian or other personal representative must transfer your interest in this Agreement or such owner's interest in you to a third party.

Such disposition of this Agreement or the interest in you (including, without limitation, transfer by bequest or inheritance) must be completed within a reasonable time, not to exceed 6 months from the date of death or disability, provided that we may extend this period for up to an additional 6 months upon written request showing good cause for such extension, and will be subject to all of the terms and conditions applicable to transfers contained in this Section.

A failure to transfer your interest in this Agreement or the ownership interest in you within this period of time constitutes a breach of this Agreement.

For purposes of this Agreement, the term "disability" means a mental or physical disability, impairment or condition that is reasonably expected to prevent or actually does prevent you or an owner of a controlling interest in you from managing and operating your HydroDog Business.

• 15.6 Operation Upon Death or Disability.

• 15.6 Operation Upon Death or Disability.

If, upon your death or disability or the death or disability of the owner of a controlling interest in you, your HydroDog Business is not being managed by a trained Manager, your or such owner's executor, administrator, conservator, guardian or other personal representative must, within a reasonable time not to exceed three (3) months from the date of death or disability, appoint a Manager to operate your HydroDog Business.

Such Manager will be required to complete training at your expense.

Pending the appointment of a Manager as provided above or if, in our judgment, your HydroDog Business is not being managed properly any time after your death or disability or after the death or disability of the owner of a controlling interest in you, we have the right, but not the obligation, to appoint a Manager for your HydroDog Business.

All funds from the operation of your HydroDog Business during the management by our appointed Manager will be kept in a separate account, and all expenses of your HydroDog Business, including compensation, other costs and travel and living expenses of our Manager, will be charged to this account.

We also have the right to charge a reasonable management fee (in addition to the Royalty and Marketing Fund Fees and contributions payable under this Agreement) during the period that our appointed Manager manages your HydroDog Business, which will not exceed four hundred dollars ($400) per day plus our reasonable expenses.

Source: Item 23 — RECEIPTS (FDD pages 43–166)