Besides the Franchise Agreement, what other agreement is included as an exhibit to the Hyper Kidz Disclosure Document?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
- (e) will require all Principals and all employees and Principals who will have access to Confidential Information, including, without limitation, managers and other personnel who attend our training programs, to execute Confidentiality and Non-Competition Agreements in the form attached hereto as Attachment 9. We shall be a third-party beneficiary of such agreements with the independent right to enforce their terms. You shall provide, at our request, executed originals of each such Confidentiality and Non-Competition Agreement. Failure to procure execution of a Confidentiality and Non-Competition Agreement shall be a material breach of this Agreement.
Source: Item 22 — CONTRACTS (FDD page 52)
What This Means (2024 FDD)
According to the 2024 Hyper Kidz Franchise Disclosure Document, franchisees, their principals, and employees who have access to confidential information must execute a Confidentiality and Non-Competition Agreement. This agreement is included as Attachment 9 to the Franchise Agreement.
Hyper Kidz requires franchisees to ensure that all Principals and employees with access to the company's Confidential Information sign this agreement. This includes managers and other personnel who attend Hyper Kidz's training programs. The franchisor is a third-party beneficiary of these agreements and has the right to enforce their terms.
A prospective Hyper Kidz franchisee's failure to obtain the required signatures on the Confidentiality and Non-Competition Agreement constitutes a material breach of the Franchise Agreement. At the franchisor's request, the franchisee must provide executed originals of each agreement.