Licence

Our Licenses
We license the Braxton Independent Associates System (the “System”). The System consists of the elements, including knowhow,
that we designate from time to time to identify outlets operating worldwide under the Licensed
Brand and currently includes the Marks (see Item 13); access to a reservation service; advertising,
publicity and other marketing programs and materials; training programs and materials, standards,
specifications and policies for construction, furnishing, operation, appearance and service of the center,
and other elements we refer to in the Franchise License Agreement, in the Manual or in other
communications to you; and, programs for our inspecting the outlet and consulting with you. We may
add elements to the System or modify, alter or delete elements of the System.
We franchise the non-exclusive right to use the System in the operation of your firm, under the
Licensed Brand, at a specified location. You must follow the high standards we have established as
the essence of the System and you may be required to make future investments.
The Franchise License Agreement you sign will be modified by an Attachment providing for new
development, change of ownership or other re-licensing or conversion, depending upon your situation.
These situations are referred to in this Disclosure Document as “New Development,” “Change of
Ownership,” “Re-licensing”, and “Conversion,” respectively.
During the term of the franchise, we may offer to amend your Franchise License Agreement as part of
the offer of a new program or for some other reason. If you agree to the proposed changes, you must
sign our then-current form of amendment that will contain our standard estoppel and general release.
Our standard estoppel and general release provisions are included in the Voluntary Termination
Agreement attached as Exhibit to this Disclosure Document.

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