Every day was different. Every call was unique. Without hesitation, you served amongst the dangerous elements of the nation to ensure society remained safe and well. As a way of thanking you for your service, Midas proudly supports our First Responders by waiving the $35,000 franchise fee for eligible recipients. Thank you for your service.
We will waive the initial franchise fee for franchisees that are U.S. military veterans and first responders (as established in accordance with our policies as we may adopt periodically) and for franchisees that are corporations, limited liability companies or other entities for which a U.S. military veteran or first responder owns a majority of the equity interest (“U.S. Military Veteran & First Responder Program”), except that if the franchisee has not initially identified a Site for its Franchised Unit in the Franchise Agreement it will be required to pay us the Minimum Site Payment described above. The U.S. Military Veteran & First Responder Program is available to all qualified individuals who either have received an honorable discharge from one of the U.S. Armed Forces (i.e., Army, Navy, Air Force, Coast Guard or Marine Corps), or are currently serving in one of the U.S. Armed Forces and eligible to receive an honorable discharge, or their entities as noted above. It is also available to first responders who were employed for a minimum of five years as a law enforcement officer, medical doctor, nurse, emergency medical technician or fire fighter, and who apply for a franchise after ending their service as a first responder. This waiver applies only to the first franchise established by the veteran, first responder or the veteran’s or first responder’s company. If you do not continue to meet this ownership 16 requirement for at least two years after acquiring the new franchise, you must pay us the full initial franchise fee ($35,000) which would have been due had you not qualified for the U.S. Military Veteran & First Responder Program, which amount becomes due immediately at the time you no longer meet the ownership requirement. We reserve the right to extend, change or discontinue the U.S. Military Veteran & First Responder Program at any time. See Exhibit D-15 for limitations on this incentive.