General Disclaimer of Warranties. Limitation of Liability.

PEERLESS ELECTRONICS INC. MAKES NO WARRANTY, EITHER EXPRESS OR IMPLIED WITH RESPECT TO ANY PRODUCT, AND SPECIFICALLY DISCLAIMS ALL OTHER WARRANTIES, INCLUDING, WITHOUT LIMITATION, WARRANTIES FOR MERCHANTABILITY, NON-INFRINGEMENT AND FITNESS FOR ANY PARTICULAR PURPOSE.  PEERLESS ELECTRONICS' SOLE OBLIGATION AND LIABILITY FOR PRODUCT DEFECTS SHALL BE, AT PEERLESS ELECTRONICS' OPTION, TO REPLACE SUCH DEFECTIVE PRODUCT OR REFUND TO BUYER THE AMOUNT PAID BY BUYER THEREFOR.  IN NO EVENT SHALL PEERLESS' LIABILITY EXCEED THE BUYER'S PURCHASE PRICE.

THE FOREGOING REMEDY SHALL BE SUBJECT TO BUYER'S WRITTEN NOTIFICATION OF DEFECT AND RETURN OF THE DEFECTIVE PRODUCT WITHIN NINETY (90) DAYS OF PURCHASE.  THE FOREGOING REMEDY DOES NOT APPLY TO PRODUCTS THAT HAVE BEEN SUBJECTED TO MISUSE (INCLUDING WITHOUT LIMITATION STATIC DISCHARGE), NEGLECT, ACCIDENT OR MODIFICATION, OR TO PRODUCTS THAT HAVE BEEN SOLDERED OR ALTERED DURING ASSEMBLY, OR ARE OTHERWISE NOT CAPABLE OF BEING TESTED, OR IF DAMAGE OCCURS AS A RESULT OF THE FAILURE OF BUYER TO FOLLOW SPECIFIC INSTRUCTIONS.

IN NO EVENT SHALL PEERLESS ELECTRONICS INC. BE LIABLE TO THE BUYER OR TO ANY THIRD PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES (INCLUDING WITHOUT LIMITATION LOST PROFITS, LOST SAVINGS, OR LOSS OF BUSINESS OPPORTUNITY) ARISING OUT OF OR RELATING TO ANY PRODUCT OR SERVICE PROVIDED OR TO BE PROVIDED BY PEERLESS ELECTRONICS INC., OR THE USE OR INABILITY TO USE THE SAME, EVEN IF PEERLESS ELECTRONICS INC.  HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.