SUPPLEMENT TO LICENSE AGREEMENT

 

            THIS AGREEMENT is made and entered into this   day

of                      , 19      , by and between                

                                    , a                          corporation, whose

address is                                                 ,

hereinafter referred to as "Licensor", and      ,

whose address is                                                 ,

hereinafter referred to as "Licensee". 

WITNESSETH:

            WHEREAS, the Licensor desires to license the use and operation of a                                                  store location at

                                                            ; and

WHEREAS, the Licensee desires to license said store  from

the Licensor; and

            WHEREAS, both the Licensor and the Licensee desire to contract for additional services and amenities which will  best assist in the success of the operation. 

            NOW, THEREFORE, in consideration of the mutual promises  and conditions contained herein, the Licensor and the  Licensee agree as follows:

1.         The Licensor may provide the Licensee with various forms

of financing, which shall be at the strict discretion  and

option of the Licensee, and shall not, under any circumstances, be required of the Licensee. 

2.         The Licensor may provide legal services for the sole and

exclusive benefit of the Licensor which result in the organization and incorporation of a corporation in the


 

            State of                           , owned and operated by the

Licensee.  Such action shall be done by the Licensor  only at the express desire of the Licensee, and the  Licensor does not, under any circumstances, require said  action to be taken by the Licensee.  In said event, the  Licensor shall charge the Licensee with the Licensor's out-of-pocket expenses in providing the Licensee with those legal services and the Licensee specifically acknowledges that the law firm preparing those corporate documents for the Licensee shall be doing so under an agreement with the Licensor and with the duty of due  care and fidelity owed to the Licensor, not to the  Licensee.

Furthermore, the Licensee specifically  understands that any law firm representing the Licensor  shall not represent the Licensee in any matter dealing  with this license agreement.

3.The Licensee acknowledges that the Licensee has been advised to seek independent legal counsel concerning  this transaction. 

4.         In accordance with the desire of the Licensor and the

Licensee to provide additional services which will best assist the Licensee in operating successfully, the


 

Licensor may, from time to time, bring to the Licensee's

attention certain additional services which will be made available or are theretofore available to the Licensee.  The Licensor and the Licensee acknowledge that any of  said services, including, but not limited to,  bookkeeping, computer service bureau services, group  insurance, credit card or banking services, group  purchases, and so forth,


 

are not required and are made  available to the Licensee for use of or purchase by, as  the case may be, the Licensee at the Licensee's sole  option and discretion. 

5.         The Licensee acknowledges that it has received and

            examined the prospectus and disclosure document provided


 

by the Licensor to the Licensee, a copy of which has  been attached hereto and made a part hereof as Exhibit  "A" and that the Licensee understands its contents. 

            IN WITNESS WHEREOF, the parties hereto have caused this agreement to be executed on their behalf, or individually,  the day and year first above written. 

Signed, sealed and delivered in the presence of:

                        "LICENSOR":

Witness                                President

Witness                               Secretary

                                    "LICENSEE":

Witness

Witness


 

 

EXHIBIT "A"

Copy of Prospectus and Disclosure Agreement