This Memorandum of Understanding sets forth the Understanding among the undersigned and registered users (the“Franchisees”), all of whom are franchisees of Medicine Shoppe®, Inc. (the“Franchisor”).[1]
MEMORANDUM OF UNDERSTANDING
Regarding the Formation of the Pharmacy Franchise Owners Association
This Memorandum of Understanding sets forth the Understandingamong the undersigned (the “Franchisees”), all of whom are franchisees ofMedicine Shoppe®, Inc. (the “Franchisor”).[1]
The undersigned Franchisees have discussed the advisability of forming a franchisee association (the “Association”) in order to exchange views among the Franchisees and other Medicine Shoppe® franchisees and further, in order to communicate said views to the Franchisor and, in addition, when appropriate, to engage in discussions, negotiations and litigation with the Franchisor with respect to issues affecting the Medicine Shoppe® System, generally.
It is the intention of the undersigned, each of whom shall become an initial member of the Association, to convey information with respect thereto to each of the other franchisees of the Medicine Shoppe®, Inc. and to make available to each of said franchisees the opportunity to become members of the Association.
[1] This Memorandum of Understanding constitutes only a statement of mutual intentions with respect to the formation of the Pharmacy Franchise Owners Association and is not intended to constitute a binding contractual commitment.