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Franchisees Inability To Perform Due To Health
FRANCHISEES INABILITY TO PERFORM DUE TO HEALTH
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:
The franchiser reserves the right to assume full management responsibilities in the case that franchisee either passes away or is incapable due to illness or otherwise. The franchiser agrees to pay the franchisee [Percent to pay] percent of the net profit of franchisee's business unit during such time.
If it is necessary for the franchiser to assume direct management, this will be in effect for [Amount of time to take over in days, weeks]. At the end of that period if the franchisee is no longer or has been rendered incapacitated, the franchiser may continue direct management, or choose to end contractual agreement and to buy out franchisees interest in perspective business unit.
Franchiser Dated
Franchisee Dated
Witness Dated
Witness Dated