Memorandum of understanding (MOU)

BY AND BETWEEN

M/S FOODIEWOOD (GST No 09BINPA3388RIZE PAN –BINPA3388R) having its

registered office at 26,Ward no-3, Sant Vinobha Marg, New colony, Distt-Deoria
through its Proprietor Smt. Ragini Poddar W/o Harsh Poddar hereinafter referred to as
“FIRST PARTY” (which expression shall unless repugnant to the context or meaning
thereof be deemed to mean and include its successors or permitted assigns)

AND

Mr. Shagun Krishna Agrawal S/O Mr Gopal Krishna agrawal resident of Chaturbhuj
Niwas,Near manas theatre, Alinagar North, Gorakhpur(Uttar Pradesh) hereinafter
known as Second party (Operator) which expression shall unless repugnant to the
context or meaning thereof be deemed to mean and include its successors or permitted
assigns.

RECITALS

WHEREAS

1. First party already have franchisee of brands “Chick-Blast”, “Kathi junction”,

“Wazwan Foods”, “Marky Momos” and “Wai wai city” currently operating at food
court of Venus Mall, Park road, Gorakhpur.
2. First party is already having kitchen equipments, other equipments and utensils-as
annexed in annexure-1, POS and staff required and necessary for operating the
above mentioned franchisee.
3. Due to some reasons, first party is unable to operate above mentioned franchisee,
Hence he contacted second party for operating the above franchisee in 2 Shops
located at food court of City Mall, Park Road, Gorakhpur. Second party have full
knowledge of operation of this type of franchisee store.

Now both the parties hereby agrees on to operate the above mentioned Franchisee
stores on following terms:

1. This agreement will come in effect from the date of commencement of business
operation from City mall and valid for a period of 9(nine) years. The renewal
of this deed, if any, for the further term is subject to the execution of a fresh
deed between parties.
2. There will be a Lock-in-period of 5 years starting from the date of
commencement of business.
3. First party will provide complete Kitchen equipments, other equipments and
utensils as per annexture-1 and Specialised staff along with branding materials,
signages which are already installed at current place of operation.
4. First party will provide NOC from all above mentioned franchisee for
operation of store at City Mall food court by the second party on or before
signing of this agreement.
5. Operations of the above mentioned franchisee stores are totally responsibility
of second party. However First party will assist second party for first three
months in day to day business operations, vendor management and franchisee
brand coordination.
6. All required registrations like GST, Labour, Food License will be taken by the
second party.
7. Second party will pay to first party revenue share @7.5% of net sales on or
before 10th of next month subject to provision of invoice being raised by the
first party on or before 5th of next month.
8. Both the parties can terminate the agreement by giving 2 month prior notice.
However First party can terminate this agreement only after expiry of Lock-in-
period as mentioned in point number 2 of this agreement.