Franchisees on the date of renewal; and (8) Franchisee shall execute general releases, in form satisfactory to Pretzel Time, of any and all claims against Pretzel Time and its Affiliates and their officers, directors, employees, agents, successors and assigns arising under this Agreement; and (10) Franchisee has complied with Pretzel Time's then current qualification and training requirements. Following receipt of Franchisee's election to renew, Pretzel Time shall provide Franchisee with an execution copy of the form of Franchise Agreement to be entered into for the renewal term. If the Franchisee does not execute and return the renewal Franchise Agreement within thirty (30) days of receipt, then Franchisee shall be deemed to have withdrawn its notice of renewal, and this Agreement shall terminate at the end of the current term. Pretzel Time may, at its option, with reasonable cause and upon written notice, elect not to renew the Franchise Agreement. Pretzel Time shall notify Franchisee of the nonrenewal not less than six (6) months prior to the expiration of the term of this Agreement. If applicable law requires that Pretzel Time give longer notice to Franchisee prior to the expiration of the term than is specified in the Franchise Agreement, the Franchise Agreement will remain in effect on a month-to-month basis until the requisite notice has been given. 5.B. RELEASES. Franchisee and its Owners shall execute general releases, in form satisfactory to Pretzel Time (the general form of which is attached hereto as Exhibit "K"), of any and all claims against Pretzel Time and its Affiliates and their respective shareholders, officers, directors, employees, agents, successors and assigns. Failure by Franchisee and its Owners to sign and deliver to Pretzel Time, such agreements and releases within thirty (30) days after delivery thereof to Franchisee shall be deemed an election by Franchisee not