Multi-unit retailing definition
Multi-unit retailing is defined as in excess of five stores and “significant extent” is defined as any entity where revenues in fabrics or crafts exceed ten percent (10%) of the total revenues of the entity. These entities include, but are not limited to, M▇▇▇▇▇▇▇, A▇ ▇▇▇▇▇, H▇▇▇▇ ▇▇▇▇▇, H▇▇▇▇▇▇ Fabrics and Calico Corners. The obligations set forth in this paragraph shall extend to all subsidiaries, affiliates, franchises, partnerships, joint ventures and successors in interest or assigns of the persons, firms or legal entities in the business of multi-unit retailing of fabric or craft products. This paragraph shall not preclude you from owning less than two percent (2%) of the publicly traded shares of a company which competes with the Company.
Multi-unit retailing is defined as in excess of five stores and “significant extent” is defined as any entity where revenues in fabrics and crafts exceed 5% of the total revenues of the entity. Additionally, you agree that for any entity where revenues are less than 5% of total revenues, you will not have a role in that entity that directly impacts the fabric and/or crafts business. The obligations of this paragraph shall extend to all subsidiaries, related and affiliated entities, franchises, partnerships, joint ventures and successors in interest or assigns of the persons, firms or legal entities in multi-unit retailing of fabrics and/or crafts resulting from a merger, acquisition, divestiture, change in control, name change or any other reason and shall not affect or extinguish any of the obligations of this paragraph.