In the context of the release, who are considered the 'Franchisor Parties' for a Jersey Mikes franchise?

According to Jersey Mike's 2025 Franchise Disclosure Document, when a Development Agreement is transferred, the developer and its affiliates, along with their respective principals and guarantors, must provide Jersey Mike's Franchisor an unconditional, general release of all claims it may have against Franchisor, its Affiliates, and their respective officers, directors, shareholders, partners and employees. This release protects Jersey Mike's and related parties from potential liabilities arising from the developer's actions or representations.

In essence, the 'Franchisor Parties' encompass Jersey Mike's itself, its parent companies or subsidiaries (Affiliates), and the individuals who manage or own these entities, including officers, directors, shareholders, partners, and employees. This broad definition ensures that a wide range of individuals and entities associated with Jersey Mike's are protected from potential legal claims during a transfer of the Development Agreement.

For a prospective franchisee, this means that if they are considering purchasing an existing development agreement, the current developer must sign a release that absolves Jersey Mike's and its related parties from any past liabilities. This clause is designed to protect Jersey Mike's from potential lawsuits or claims that may arise from the previous developer's operation of the business. It is important for the prospective franchisee to understand the scope of this release and ensure they are comfortable with the potential risks and liabilities they are assuming.