ALM Positioners, Inc. – Statement of Warranty

WARRANTY – The warranty shall be one (1) year for the equipment and/or machinery and one (1) year for labor. The warranty shall start on the date of acceptance at your plant, with a maximum installation not to exceed four weeks from date of receipt. Placing the equipment and/or machinery in production will constitute machinery acceptance and the warranty period will start. The warranty only applies to the original purchaser. Subsequent owners are not covered.

No warranty is implied for special, incidental or consequential damages. The warranty will apply to the equipment and/or machinery only. Routine replacement items such as customary consumable parts are not covered under this warranty. Freight charges will apply on all returned components covered under this warranty.

Warranty claims, which result from buyer errors, failure to follow stated operational procedures or inadequate maintenance will not be accepted. ALM will not be held responsible for special, incidental or consequential damages.

WARRANTY DISCLAIMER, LIMITATION OF LIABILITY AND REMEDY – If within one (1) year after shipment, any equipment and/or machinery manufactured by ALM or furnished under this contract, are still the property of the original purchaser, and prove to have been defective in workmanship or material when furnished, ALM will repair or refurbish (at ALM’s option) such parts without charge, F.O.B. point of origin. If ALM agrees to allow buyer to return the item to ALM, buyer shall pay freight charges on the returned components covered under this warranty. The above is in effect unless superseded by a term or initiation date that is reflected in buyer’s purchase order and accepted by ALM. Under any and all circumstances, the remaining warranty disclaimer and limitation of liability shall remain in effect.

ALM shall not accept charges or be liable for any returns, repairs or alterations of the machinery unless ALM has provided the buyer prior written consent. Routine replacement and maintenance items are not covered under this warranty.

THE WARRANTY EXPRESSED HEREIN IS IN LIEU OF ANY OTHER WARRANTIES EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTY OF MERCHANTABILITY OF FITNESS FOR A PARTICULAR PURPOSE, AND IS IN LIEU OF ANY AND ALL OTHER OBLIGATIONS OR LIABILITY ON ALM’S PART. UNDER NO CIRCUMSTANCES WILL ALM BE LIABLE FOR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, OR FOR ANY OTHER LOSS, DAMAGE OR EXPENSE OF ANY KIND, INCLUDING LOSS OF PROFITS, ARISING IN CONNECTION WITH THIS CONTRACT OR WITH THE USE OF OR INABILITY TO USE ALM’S PRODUCTS FURNISHED UNDER THIS CONTRACT. ALM’S MAXIMUM LIABILITY SHALL NOT EXCEED AND BUYER’S REMEDY IS LIMITED TO EITHER AT ALM’S DISCRETION, REPAIR, REPLACEMENT OR RETURN AND REFUND OF THE PURCHASE PRICE; AND SUCH REMEDY SHALL BE BUYER’S ENTIRE AND EXCLUSIVE REMEDY.