What is the name of the contract mentioned in this section related to Potbelly Sandwich Works?
Potbelly_Sandwich_Works Franchise · 2025 FDDAnswer from 2025 FDD Document
You have the authority to sign, deliver, and perform your obligations under this Agreement and all related agreements and are duly organized or formed and validly exist in good standing under the laws of the state of your incorporation or formation;
- (2) Your organizational documents, operating agreement, or partnership agreement, as applicable, will recite that this Agreement restricts the issuance and transfer of certain ownership interests in you, and all certificates and other documents representing ownership interests in you will bear a legend (the wording of which we may specify) referring to those restrictions;
- (3) Exhibit A to this Agreement completely and accurately identifies all of your owners and their interests in you as of the Effective Date;
Source: Item 22 — CONTRACTS (FDD page 79)
What This Means (2025 FDD)
According to Potbelly Sandwich Works' 2025 Franchise Disclosure Document, the contract discussed in Item 22 is referred to as "this Agreement". This agreement outlines the terms and conditions under which Potbelly Sandwich Works grants a franchise to operate a Potbelly Shop.
Specifically, the agreement covers various aspects of the franchise relationship, including the grant of the franchise itself, the franchisee's obligations, and the franchisor's rights. It details the use of Potbelly Sandwich Works' intellectual property, the operation of the shop under the branded system, and the standards that must be maintained.
The agreement also addresses the relationship between Potbelly Sandwich Works and the franchisee, clarifying that they are independent contractors and not in a fiduciary relationship. Furthermore, it includes clauses related to non-competition, confidentiality, and the protection of Potbelly Sandwich Works' trade secrets and branded products.
Prospective franchisees should carefully review the entire agreement to fully understand their rights and obligations before investing in a Potbelly Sandwich Works franchise.