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Voluntary Termination by Licensee
If the Licensee chooses to exit, the following must be completed:
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Full payment of the $30,000 licensing fee (if not yet completed).
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Payment of 10% revenue share for the year of termination.
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Immediate removal of all LBA branding, intellectual property, and school references.
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Payment of remaining royalties for all years left in the contract at the moment of termination.
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Termination by LBA for Breach of Agreement
LBA reserves the right to immediately terminate this Agreement if:
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The Licensee fails to meet financial obligations (fees, royalties, marketing dues).
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The Licensee damages the brand, misrepresents LBA, or fails to uphold professional standards.
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The Licensee fails to comply with state licensing requirements or business regulations.
Upon termination, the Licensee must cease operations under the LBA name and remove all branding, materials, and references.
- This Agreement automatically renews for an additional five (5) years unless the Licensee provides a written termination request at least 90 days before the expiration date. Failure to submit written notice will result in automatic renewal under the same terms.
- If the Licensee terminates this Agreement before completing the five-year term, they shall pay all remaining unpaid royalties for the full contract term immediately upon termination. Failure to pay the remaining balance will result in legal action to recover the full contracted amount.