Are there any claims for Kidokinetics franchisees that this release does not apply to?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
e at any time.
EXHIBIT H-1
KIDOKINETICS FRANCHISE
SAMPLE GENERAL RELEASE AGREEMENT
WAIVER AND RELEASE OF CLAIMS
This Waiver and Release of Claims ("Release") is made as of ___________________________________
WHEREAS, Franchisor and Franchisee have entered into a Franchise Agreement ("Agreement") pursuant to which Franchisee was granted the right to own and operate a Kidokinetics business;
WHEREAS, (Franchisee has notified Franchisor of its desire to transfer the Agreement and all rights related thereto, or an ownership interest in Franchisee, to a transferee/enter into a successor franchise agreement/amend the Agreement) or (the Agreement is being terminated/or indicate other reason for the requirement of this waiver and release), and Franchisor has consented to such (transfer/successor franchise agreement/amendment/termination/other reason);
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
According to the 2024 Kidokinetics Franchise Disclosure Document, Exhibit H-1 contains a sample general release agreement and waiver of claims. This release is executed when a franchisee transfers their agreement, enters into a successor franchise agreement, amends the agreement, or terminates the agreement. As a condition of Kidokinetics's consent to any of these actions, the franchisee (Releasor) must agree to the terms and conditions of the release.
The document does not explicitly state specific claims to which the release does not apply. However, the agreement is presented as a general release, suggesting it aims to cover a broad range of potential claims arising from the franchise relationship up to the point of the release. The purpose of this release is to protect Kidokinetics from future liabilities or legal actions related to the franchisee's operation.
While the FDD does not list explicit exceptions, it is important for a prospective Kidokinetics franchisee to carefully review the full release agreement with a legal professional. This review will help the franchisee understand the scope of the claims being waived and identify any potential concerns or areas of negotiation. Franchisees should pay close attention to any clauses that could impact their rights or create unforeseen liabilities. It is also important to note that the sample release is subject to change.