What is the document called that each undersigned gives to Kidokinetics Franchise LLC?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
E AGREEMENT ATTACHMENT E
FRANCHISEE'S PERSONAL GUARANTY
| This Franchisee's Personal Guaranty and Covenant (this "Guaranty") is given by each of the |
|---|
| undersigned (each, a "Guarantor") on [], 20 to Kidokinetics Franchise LLC, a Florida |
| limited liability company ("Franchisor"), in order to induce Franchisor to enter into that certain Franchisor |
| Agreement dated of even date herewith (the "Franchise Agreement") with, |
| a("Franchisee"). |
Guarantor acknowledges that Guarantor is included in the term "Franchisee's Principal" as described in the Franchise Agreement.
Guarantor acknowledges that Guarantor has read the terms and conditions of the Franchise Agreement and acknowledges that the execution of this Guaranty and the undertakings of the Franchisee's Principal herein and in the Franchise Agreement are in partial consideration for, and a condition to the granting of, the rights granted in the Franchise Agreement, and that Franchisor would not have granted these rights without the execution of this Guaranty by Guarantor.
Guarantor hereby individually makes, agrees to be bound by, and agrees to perform, all of the covenants, representations, warranties and agreements of the Franchisee's Principal as set forth in the Franchise Agreement, including all obligations regarding non-competition and confidentiality.
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics' 2024 Franchise Disclosure Document, individuals may be required to sign several agreements depending on their role and relationship with the franchise. These include a Confidentiality Agreement, a System Protection Agreement, a Franchisee's Personal Guaranty and Covenant, and potentially others related to assignment approvals or renewals. Each agreement serves a distinct purpose in protecting Kidokinetics' interests, confidential information, and system standards.
The Confidentiality Agreement, as detailed in the sample provided, is designed to protect Kidokinetics' Intellectual Property, including their Marks, Copyrights, Know-how, Manual, and System. This agreement ensures that individuals associated with a Kidokinetics franchise, such as employees or contractors, understand and agree to maintain the confidentiality of sensitive business information.
The System Protection Agreement focuses on preventing unfair competition and safeguarding Kidokinetics' market position. This agreement is typically signed by managers or officers of a Kidokinetics franchise and includes clauses related to non-compete and confidentiality to protect the brand's interests within the Franchisee Territory.
Additionally, a Franchisee's Personal Guaranty and Covenant may be required, compelling the undersigned to adhere to the terms outlined in the Franchise Agreement. These agreements collectively ensure that various parties associated with the Kidokinetics franchise are legally bound to protect the brand's interests and maintain system standards.