Who are considered the 'Franchisee Releasors' in the Kidokinetics Form General Release - Renewal?

According to Kidokinetics's 2024 Franchise Disclosure Document, the Franchisee and the Franchisee's Owners are considered the 'Releasors' in the Sample General Release Agreement. This agreement is executed when a franchisee transfers their agreement, enters into a successor franchise agreement, amends their agreement, or terminates their agreement. The Franchisee and Franchisee's Owners, by signing the release, agree to waive certain claims against Kidokinetics.

This means that when a Kidokinetics franchisee decides to renew their franchise agreement, they, along with their owners, must sign a general release. This release is a condition of Kidokinetics's consent to the renewal. By signing, the franchisee and their owners relinquish any claims they may have against Kidokinetics, ensuring a clean slate for the renewed franchise term.

Prospective Kidokinetics franchisees should carefully review the General Release Agreement and understand the implications of waiving potential claims. It is advisable to seek legal counsel to fully comprehend the scope of the release before signing. This is a standard practice in franchising, as franchisors often require releases to protect themselves from past liabilities when franchisees renew or transfer their agreements.