Tim Hortons USA Inc.

Can you provide details on the 5 pending litigation cases against Tim Hortons USA, including the nature of claims, amounts disputed, and expected resolution timelines?

What specific factors are driving terminations at a rate of 1.1%, which exceeds the typical range for quick service restaurants?

How does the $850 monthly technology fee compare to competitors, and what specific systems and services does this fee cover?

Why is the 20-year initial term significantly longer than the 10-15 year typical range, and what are the implications if circumstances change during year 15-20?

Given there are zero renewal options, what happens at the end of the 20-year term—is a new agreement required, and under what terms?

Can you explain why the $50,000 franchise fee and $25,000 transfer fee exceed typical ranges, and whether these fees are negotiable?

What are the specific termination causes in the agreement, and why does the count of 12 fall below the typical range of 15-20?

What protections exist against franchisor encroachment, given the franchise offers no exclusive territory?

Of the 5 pending litigation cases, how many involve franchisee disputes versus other parties (suppliers, employees, regulators)?

Can you provide the financial performance item 19 data showing sales ranges by unit type or location to assess performance variability?

What percentage of the 29 transfers in 2024 were approved by the franchisor, and were any transfer requests denied?

How are the personal guarantee requirements and indemnification obligations enforced if a franchisee becomes unable to meet them?

Given the termination rate of 1.1%, what are the most common reasons franchisees are terminated versus voluntarily exiting?

Are there any pending regulatory investigations or class action suits among the 5 pending cases, and if so, what is their status?

What happens to a franchisee's non-compete obligations after the 20-year term expires with no renewal option?

Can you provide a breakdown of the 46 units that exited over the 3-year period (2022-2024) by reason: closure, termination, or transfer?

How does support and training (scored 90/100) offset the elevated risk factors score of 47?

What recourse do franchisees have if the $850 monthly technology fee increases, and has this fee changed in the past 3 years?

Are there any restrictions on who can purchase or transfer a franchise, and how does the $25,000 transfer fee align with franchisor approval?

What percentage of franchisees complete their full 20-year term versus exiting earlier, and what is the average franchisee tenure?