Under what condition does the Pearce Bespoke agreement become binding on both parties?

Based on the 2025 Franchise Disclosure Document, the Confidentiality and Restrictive Covenant Agreement becomes binding when each party executes the agreement. The document includes the statement "IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of the date or dates set forth below." This indicates that the act of signing by both parties finalizes the agreement.

This agreement is not an employment agreement but a confidentiality agreement related to information, materials, and access provided in connection with the Pearce Bespoke Business. The agreement outlines various definitions, including "Business Management System," "Business Management System Data," and "Confidential Information," which are crucial for understanding the scope of the confidentiality obligations.

Pearce Bespoke Franchising, LLC, although not a direct party to the agreement, is identified as an intended third-party beneficiary. This means that Pearce Bespoke Franchising, LLC has rights and protections under the agreement, particularly concerning the protection of confidential information and adherence to the restrictive covenants. The agreement also specifies that if Pearce Bespoke hires an attorney or files suit against the franchisee for breaching the agreement and prevails, the franchisee agrees to pay the reasonable attorney fees and costs incurred.

Prospective franchisees should carefully review the definitions and obligations within the Confidentiality and Restrictive Covenant Agreement to fully understand their responsibilities regarding confidential information. They should also be aware that Pearce Bespoke Franchising, LLC has the right to enforce the agreement as a third-party beneficiary, adding another layer of accountability.