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Franchise Fees & Royalties
The franchiser _________________________, and the franchisee ________________________, as set forth in their franchise agreement on __________ and as witnessed by _______, 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 ____ (--%) of gross sales for a period of ____. Gross sales is determined and defined by the following _________ 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.
*** If Required By State Law ***
This Section for Notary:
State of _________
County of ________ [COUNTY]
On [DATE] before me, [NAME OF NOTARY], notary, personally appeared [NAME OF PERSON(S) INVOLVED], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
My commission expires: _____