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Royalties
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:
Franchisee will responsible to provide an audited statement, by duly authorized agent, of all accounts and transaction of franchise at least annually. Such statement will be delivered in writing every and will include royalty fee to be paid to franchiser. All activity with regard to accounting will be performed in accordance with standard set forth in provided manuals.
Franchiser Dated
Franchisee Dated
Witness Dated
Witness Dated