LIMITATIONS OF LIABILITY

for HOLGER ANDREASEN & PARTNER GMBH

and HOLGER ANDREASEN GERMANY GMBH (jointly referred to as "HAP")

1. Liability for material defects

HAP must correct defects if the customer proves that the goods deviate significantly from the type, quantity, quality or suitability for use agreed in the written order confirmation or, in the absence of an agreement, that the goods deviate significantly from the quality of the design, material or workmanship customary at HAP's place of business. HAP's liability is limited to defects that occur within one year of delivery, unless otherwise agreed. HAP must be notified of defects within 1 week. After receiving notice, HAP may choose to correct the defect by means of repair or replacement.

If a defect cannot be successfully corrected: a) the customer shall be entitled to demand a reduction in the purchase price that corresponds to the diminished value of the delivery item. However, such reduction shall not exceed 15% of the purchase price; or b) if the defect is so substantial as to deprive the customer of the benefits of the contract with regard to the delivery item or a substantial part thereof, the customer may – by notice in writing to HAP – withdraw from the contract with regard to that part of the delivery item which, by reason of the defect, cannot be used as intended by the parties. The customer shall then be entitled to compensation for the damage/loss incurred by the customer up to a maximum amount of 15% of the partial purchase price for that part of the delivery item with regard to which the customer has withdrawn from the contract.

No warranty is given for defects that arise from material that has been provided by the customer or a design required or specified by the customer or that have been caused by incorrect maintenance, incorrect operation, incorrect assembly or incorrect repair by the customer, nor does HAP's liability extend to normal wear and tear (including corrosion) or deterioration.

For damage that has not occurred to the delivery item, HAP shall only be liable – on whatever legal basis – for:

a) intent;

b) gross negligence on the part of the company owner/executive bodies or senior employees;

c) culpable injury to life, limb or health;

d) defects that it has fraudulently concealed.

Further claims are excluded. This applies in particular to any damage/loss caused by the defect, including loss of production, loss of profit, consequential and pecuniary damage, non-material impairments and other indirect damage/loss.

2. Liability for delay in delivery

If the delivery item is not delivered on the delivery date, the customer shall be entitled to the payment of liquidated damages from the date on which the delivery should have been made. The liquidated damages are set at 0.25% of the purchase price for each commenced week of delay. The liquidated damages must not exceed 7.5% of the purchase price.

If only part of the delivery item is delayed, the liquidated damages shall be determined on the basis of the purchase price for the part of the delivery item that cannot be used as intended by the parties, as a result of the delay.

Further claims arising from late delivery are excluded.