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Fees Of Royalties
FEES OF ROYALTIES
The franchiser, [Name of the franchiser], and the franchisee, [Name of the franchisee], as set forth in their franchise agreement on [Date of the agreement] and as witnessed by [Name of the witness], have agreed to the following additional terms and conditions:
Effective and every of the month thereafter, the franchisee agrees to pay the franchiser which is [Percentage of gross sales] percentage of gross sales for a period of [Period of sales]. Gross sales is determined and defined by the following [Description of terms] and in accordance with government standards and practices. All gross sales will be measured in receipts of sale in store location and promise to be correct by the franchisee.
Franchiser Dated
Franchisee Dated
Witness Dated
Witness Dated