What are the conditions for renewing a My Salon Suite franchise agreement?

This Renewal Addendum to the Franchise Agreement ("Renewal Addendum") is made and entered into between whose address is at ("Franchisee") and Suite Management Franchise, LLC, a Florida limited liability company located at 2542 Highlander Way, Carrollton, Texas 75006-2333 ("Franchisor").

This Renewal Addendum shall be effective as of the signed and set forth opposite Franchisor's signature on this Renewal Addendum ("Effective Date").

WHEREAS, Franchisor and Franchisee entered into that certain Franchise Agreement dated ("Original Franchise Agreement") pursuant to which Franchisor granted the right to operate a My Salon Suite franchised business located at ("Franchised Business").

WHEREAS, Pursuant to the rights granted in the Original Franchise Agreement, Franchisee is willing to enter into a new franchise agreement with Franchisor on the terms and conditions of Franchisor's current form of franchise agreement, as modified by this Renewal Addendum ("Renewal Franchise Agreement") to continue Franchisee's rights to operate the Franchised Business.

WHEREAS, Franchisee has had a full and adequate opportunity to be advised thoroughly of the terms and conditions of the Renewal Franchise Agreement, including this Renewal Addendum, legal counsel and other advisors, and has had sufficient opportunity to evaluate and investigate the System, the financial investment requirements and the business risks associated with operating a My Salon Suite business.

WHEREAS, Franchisor and Franchisee desire to amend the terms of the Renewal Franchise Agreement by incorporating the terms of this Renewal Addendum into the Renewal Franchise Agreement.

NOW, THEREFORE, in consideration of the undertakings and commitments of each party to the other party set forth herein, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 1.

Definitions.

Capitalized terms used and not defined in this Renewal Addendum shall have the meanings assigned to them in the Renewal Franchise Agreement. 2.

Renewal Franchise Fee.

Subsection 3.A. of the Renewal Franchise Agreement is deleted in its entirety and replaced with the following: 3.A.

Renewal Franchise Fee.

Source: Item 23 — RECEIPTS (FDD pages 95–230)