Multiple Unit Binder Agreement

MULTIPLE UNIT
BRAXTON IA BINDER AGREEMENT
THIS AGREEMENT is entered into effective as of [date] between [Insert Master Licensee’s Name]
(“Master Licensee”) and [Insert Multiple Unit Owner’s Name] (“you”).

RECITALS
A. Master Licensee has been granted the right by Braxton Associates Franchises, a Massachusetts corporation
(“Franchisor”), to sublicense the Marks, the System, and the Confidential Information within the
area designated in Section 2.2 below (“Territory”).
B. Braxton Associates Limited has developed and owns the Marks, the System, and the Confidential
Information.
C. Braxton Associates Limited has granted Braxton Assets KFT (together with Braxton Associates Limited,
“Licensor”) the exclusive right to license and authorize the sublicensing of the Marks, the
System, and the Confidential Information.
D. Licensor has granted Franchisor the exclusive right to sublicense the Marks, the System, and
the Confidential Information within the U.S.A.
E. You wish to obtain the right to operate an Braxton Associates MULTIPLE UNIT, a multi-unit Braxton professional services
and mentoring business in the Territory.
F. You wish to obtain the right to operate eight (8) Braxton professional services franchises collectively referred
to as multiple unit pursuant to the terms and conditions set forth in Exhibit A hereto.
THE PARTIES AGREE AS FOLLOWS:
1 General Provisions
1.1 Capitalized Terms not redefined in this Binder Agreement will have that meaning given to
them in the Braxton IA Franchise Agreement (“BIAFA”), which is attached hereto as
Exhibit A and is hereby incorporated herein by reference, and section references below are
references to sections of the BIAFA.
1.2 This Agreement incorporates eight (8) BIAFAs as though eight (8) individual BIAFAs were
entered into and executed by the parties, including the applicable provisions for each
respective BIAFA set forth below in this Agreement.
1.3 Any failure by you to comply with this Agreement will be dealt with in accordance with the
terms of the BIAFA. A breach of any one BIAFA will be treated as a breach of all BIAFAs
which comprise multiple unit.
MULTIPLE UNIT Braxton professional services Binder Agreement – 09/08
2 General (BIAFAs 1 – 8 inclusive):
For each BIAFA the following will apply:
2.1 Master Licensee’s Name: [Insert Master Licensee’s Name]
2.2 Master Licensee’s Territory: [Insert Territory]
2.3 Royalty Fee: [$1,800/month]
The Royalty Fee under each respective BIAFA commences
the earlier of: (1) the Royalty Start Date listed in Section 6
below or, (2) the first day of the month following the month in
which the Braxton professional services or the Nominated Braxton Advisor
completes the initial training. No Royalty Fee is due under
subsection (2) for the month in which you or your Nominated
Braxton professional services completes the induction training program.
2.4 Marketing & Advertising Fee: [5% of preceding month’s Gross Revenue]
The Marketing and Advertising Fee is due on the 5th day of
each calendar month, except that no Marketing and
Advertising Fee is due with respect to Gross Revenues in the
month in which you complete the induction training program
or the following month.
2.5 Training Fee: [$25,000.00 ]
Payable for each Braxton professional services and Nominated Braxton
Associates.
2.6 Renewal Fee: [$5,000] total for BIAFAs 1-8
2.7 Transfer Fee: [$5,000] total for BIAFAs 1-8
2.8 Relocation Fee: [$10,000] total for BIAFAs 1-8
2.9 Termination Fee: [$10,000] total for BIAFAs 1-8
2.10 Technology Fee: $2,500 total for BIAFAs 1-8
2.11 Interest Rate: One and one half percent (1½%) per month (or the
maximum rate permitted by applicable law, if less
than 1½%).
MULTIPLE UNIT Braxton professional services Binder Agreement – 09/08
2.12 MULTIPLE UNIT Owner’s Name(s) [a. Insert Multiple Unit Owner Name]
[b. Insert Multiple Unit Owner Name]
[c. Insert Multiple Unit Owner Name]
[d. Insert Multiple Unit Owner Name]
2.13 Employees: [Insert Employee Names]
2.14 MULTIPLE UNIT Office Location: [Insert Multiple Unit Location]
3 Franchise Fees (BIAFAs 1 – 8 inclusive):
For each BIAFA the following Franchise Fees will apply:
3.1 BIAFA 1: [$ Insert Franchise Fee]
3.2 BIAFA 2: [$ Insert Franchise Fee]
3.3 BIAFA 3: [$ Insert Franchise Fee]
3.4 BIAFA 4: [$ Insert Franchise Fee]
3.5 BIAFA 5: [$ Insert Franchise Fee]
3.6 BIAFA 6: [$ Insert Franchise Fee]
3.7 BIAFA 7: [$ Insert Franchise Fee]
3.8 BIAFA 8: [$ Insert Franchise Fee]
4 Payment Terms (BIAFAs 1 – 8 inclusive):
You agree to pay to Master Licensee the total of all Franchise Fees described in paragraph 3 as
follows:
4.1 Total of MULTIPLE UNIT Franchise Fees (BIAFA 1 -8): [$ ]
4.2 Less Initial Payment, payable upon execution of this Agreement [$ ]
Vendor (i.e., Master Licensee) Balance: [$ ]
MULTIPLE UNIT Braxton professional services Binder Agreement – 09/08
4.3 [No. of monthly repayments] x [monthly repayments amount] = [$Vendor Balance ]
4.4 Your first Monthly Payment toward the Vendor Balance will be paid on [Insert Date] and will
continue to be paid monthly on the [Insert Date] of each month until the Vendor Balance is
paid in full.
5 Start Up Date (BIAFAs 1 – 8 inclusive):
For each BIAFA the following maximum Start Up Dates will apply:
5.1 BIAFA 1: [Insert Start Up Date]
5.2 BIAFA 2: [Insert Start Up Date]
5.3 BIAFA 3: [Insert Start Up Date]
5.4 BIAFA 4: [Insert Start Up Date]
5.5 BIAFA 5: [Insert Start Up Date]
5.6 BIAFA 6: [Insert Start Up Date]
5.7 BIAFA 7: [Insert Start Up Date]
5.8 BIAFA 8: [Insert Start Up Date]
6 Royalty Start Date (BIAFAs 1 – 8 inclusive):
The Royalty Start Date for each BIAFA shall be the earlier of (a) the date set forth below for the
applicable BIAFA, or (b) the first day of the month following the date on which the Nominated
Braxton professional services or a MULTIPLE UNIT Owner completes the induction training.
6.1 BIAFA 1: [Insert Royalty Start Date]
6.2 BIAFA 2: [Insert Royalty Start Date]
6.3 BIAFA 3: [Insert Royalty Start Date]
6.4 BIAFA 4: [Insert Royalty Start Date]
6.5 BIAFA 5: [Insert Royalty Start Date]
6.6 BIAFA 6: [Insert Royalty Start Date]
MULTIPLE UNIT Braxton professional services Binder Agreement – 09/08
6.7 BIAFA 7: [Insert Royalty Start Date]
6.8 BIAFA 8: [Insert Royalty Start Date]
7 Nominated Braxton Advisor (BIAFAs 1 – 8 inclusive):
For each BIAFA the following Nominated Braxton Associates franchisees will be:
7.1 BIAFA 1: [ Name & Address of Nominated Braxton Advisor]
7.2 BIAFA 2: [ Name & Address of Nominated Braxton Advisor]
7.3 BIAFA 3: [ Name & Address of Nominated Braxton Advisor]
7.4 BIAFA 4: [ Name & Address of Nominated Braxton Advisor]
7.5 BIAFA 5: [ Name & Address of Nominated Braxton Advisor]
7.6 BIAFA 6: [ Name & Address of Nominated Braxton Advisor]
7.7 BIAFA 7: [ Name & Address of Nominated Braxton Advisor]
7.8 BIAFA 8: [ Name & Address of Nominated Braxton Advisor]
8 Addresses
8.1 Master Licensee: [Insert Address Line 1]
[Insert Address Line 2]
[Insert Phone]
[Insert Fax]
8.2 MULTIPLE UNIT Owner: [Name]
[Insert Address Line 1]
[Insert Address Line 2]
[Insert Phone]
[Insert Fax]
MULTIPLE UNIT Braxton professional services Binder Agreement – 09/08
[Name]
[Insert Address Line 1]
[Insert Address Line 2]
[Insert Phone]
[Insert Fax]
[Name]
[Insert Address Line 1]
[Insert Address Line 2]
[Insert Phone]
[Insert Fax]
[Name]
[Insert Address Line 1]
[Insert Address Line 2]
[Insert Phone]
[Insert Fax]
9 Acknowledgments
YOU ACKNOWLEDGE THAT YOU HAVE CONDUCTED AN INDEPENDENT INVESTIGATION OF
MULTIPLE UNIT FRANCHISE CONSISTING OF EIGHT (8) INDIVIDUAL BRAXTON PROFESSIONAL SERVICES
FRANCHISES, AND THAT THE BUSINESS VENTURE CONTEMPLATED BY THIS AGREEMENT
INVOLVES BUSINESS RISK AND WILL BE LARGELY DEPENDENT UPON YOUR ABILITY AS
AN INDEPENDENT BUSINESSPERSON. MASTER LICENSEE EXPRESSLY DISCLAIMS THE
MAKING OF, AND YOU ACKNOWLEDGE THAT YOU HAVE NOT RECEIVED, ANY WARRANTY
OR GUARANTEE, EXPRESS OR IMPLIED, AS TO THE POTENTIAL SALES, PROFITS, OR
SUCCESS OF THE BUSINESS VENTURE CONTEMPLATED BY THIS AGREEMENT.
YOU ACKNOWLEDGE THAT YOU RECEIVED A COPY OF THIS AGREEMENT, INCLUDING
THE ANNEXED FORM OF BRAXTON IA FRANCHISE AGREEMENT AND ATTACHMENTS
AT LEAST FIVE (5) BUSINESS DAYS BEFORE THE DATE ON WHICH YOU SIGNED THIS
AGREEMENT. YOU FURTHER ACKNOWLEDGE THAT YOU RECEIVED A UNIFORM
MULTIPLE UNIT Braxton professional services Binder Agreement – 09/08
FRANCHISE OFFERING CIRCULAR AT LEAST 10 BUSINESS DAYS BEFORE THE DATE ON
WHICH YOU SIGNED THIS AGREEMENT OR PAID ANY CONSIDERATION.
YOU ACKNOWLEDGE THAT YOU HAVE READ AND UNDERSTAND THIS AGREEMENT; AND
THAT MASTER LICENSEE HAS GIVEN YOU AMPLE TIME AND OPPORTUNITY, AND HAS
ENCOURAGED YOU, TO CONSULT WITH ADVISORS OF YOUR OWN CHOOSING ABOUT THE
POTENTIAL BENEFITS AND RISKS OF ENTERING INTO THIS AGREEMENT.
THE PARTIES have caused this Agreement to be duly executed as evidenced by their signatures
appearing below.
APPROVED AND EXECUTED ON [DATE].
MULTIPLE UNIT OWNER 1
By: By:
Title: Title:
Ownership %: Ownership %:
MULTIPLE UNIT OWNER 2
By: By:
Title: Title:
Ownership %: Ownership %:
MULTIPLE UNIT OWNER 3
By: By:
Title: Title:
Ownership %: Ownership %:
MULTIPLE UNIT OWNER 4
By: By:
Title: Title:
Ownership %: Ownership %:
MULTIPLE UNIT Braxton professional services Binder Agreement – 09/08
Each person with an ownership interest in the Business must sign this Agreement and specify his or
her ownership interest percentage. All owners must execute the Personal Guaranty attached to this
Agreement.
MASTER LICENSEE
By:
Title:

Deja un comentario

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *


*