What specific notices are waived by the undersigned owners guaranteeing the Noodles & Company Franchise Agreement?

According to the 2025 Noodles & Company Franchise Disclosure Document, owners with a 10% or greater interest in the franchisee entity who guarantee the Franchise Agreement waive certain notices related to the franchisee's obligations. This waiver is part of the personal guaranty these owners provide to Noodles & Company.

Specifically, the owners waive: (a) acceptance and notice of acceptance by Noodles & Company of the guaranty; (b) notice of demand for payment of any debt or non-performance of any obligations guaranteed; (c) protest and notice of default to any party regarding the guaranteed debt or nonperformance; (d) any right to require Noodles & Company to first bring an action against the franchisee or any other person before seeking recourse from the guarantor; (e) notice of any amendment to the agreement; and (f) any and all other notices and legal or equitable defenses to which he or she may be entitled.

This means that Noodles & Company does not have to inform the guarantors of acceptance of the guaranty, demand payment from the franchisee before pursuing the guarantors, or notify the guarantors of any defaults or amendments to the agreement. The guarantors also give up certain legal defenses they might otherwise have. This ensures that Noodles & Company can directly and swiftly pursue the personal guarantors if the franchisee fails to meet its obligations under the Franchise Agreement. Prospective franchisees should carefully consider the implications of providing such a broad personal guarantee, as it significantly increases their personal liability.