According to Itan's 2025 Franchise Disclosure Document, Exhibit D is titled the Area Development Agreement. This agreement is a key legal document that outlines the terms and conditions under which a franchisee can develop multiple Itan locations within a specific geographic area.

For a prospective Itan franchisee, the Area Development Agreement is important if they are interested in expanding their business beyond a single location. It grants the franchisee the right, but not the obligation, to open additional Itan salons within a defined territory. This can be a significant growth opportunity, but it also comes with responsibilities, such as meeting development schedules and performance targets.

It is crucial for potential Itan franchisees to carefully review the Area Development Agreement with legal counsel to fully understand their rights and obligations. This includes understanding the development schedule, the criteria for maintaining exclusivity in the territory, and the consequences of failing to meet the agreed-upon terms. Understanding this agreement is essential for franchisees planning to grow their Itan business.