Reservation Agreement

Electro Nautic WaveFlyer Reservation Agreement

Terms & Conditions
Documentation.

Your WaveFlyer Vessel Reservation Agreement (the “Agreement”) is made up of the following

documents:

1. Vessel Configuration: The Vessel Configuration will be finalised with you at a future date. The Vessel Configuration will describe the Vessel that you configure and will include pricing of such Vessel (including GST).

2. Final Price Sheet: The Final Price Sheet will also be provided to you at later date, closer to the delivery date of your Vessel. The Final Price Sheet will include final pricing based on your Vessel Configuration and will include taxes and official or governmental fees.

3. Terms & Conditions: These Terms & Conditions are effective as of the date you place your Reservation and make your Reservation Payment (the “Reservation Date”).

Agreement to Purchase. You agree to reserve the WaveFlyer Vessel when you made your Reservation Payment (the “Vessel”). You further agree that by taking delivery of such Vessel when the Vessel is ready for delivery you are completing the transaction through an Electro Nautic authorised dealer, as indicated below, pursuant to the terms and conditions of this Agreement.

Your Vessel is configured and priced based on features, options and hardware available at the time of your Reservation. Availability of features and options must then be confirmed by our Authorized Dealer handling your Reservation. Although we make our best effort to accommodate all requests, some options, features or hardware released after you place your order may not be included in or available for your Vessel.

Reservation Payment. The Reservation Payment shall be AUD$100 (“Reservation Payment”). You agree to pay the Reservation Payment via EFT payment, Visa, MasterCard or American Express.

Reservation Effective Date. Your Reservation for your Vessel becomes effective when we receive your Reservation Payment. By reserving your Vessel, you secure the approximate delivery priority of your Vehicle.

Pre-Order Price, Taxes and Official Fees. The pre-order price of the Vessel will be confirmed in your Vessel Configuration and Final Price Sheet. Depending on availability and preference, you may have only configured part of your Vessel during the Reservation process, thus any pre-order price provided to you in advance of the Final Price Sheet is only being offered to you as an estimate and is subject to change. Note that any pre-order price listed in the Vessel Configuration will include GST unless the purchase has been made outside of Australia. Taxes and fees are constantly changing and will depend on many factors, such as where you register the Vessel, they will be calculated closer to the time of delivery and be indicated on your Final Price Sheet. You are responsible for paying these taxes and fees.

Reservation Process. After you submit your completed Reservation and the options you selected become available in production, we will invite you to complete the configuration of your Vessel. After you have configured your Vessel, we will then provide you with the Vessel Configuration and Final Price Sheet based on the base price of the model and any options included or that you select.

Cancellations. If you cancel, you will receive a full refund of your Reservation Payment. Until your final configuration is matched to a Vessel, you may make changes to your Vessel Configuration. If you make changes to the configuration of the Vessel, you may be subject to potential price increases for any pricing adjustments made since your original Reservation Date. Any changes made by you to your Vessel Configuration, including changes to the delivery location or estimated delivery date, will be reflected in a subsequent Vessel Configuration that will form part of this Agreement.

You will be required to take delivery of your Vessel at an Authorized Dealership. When you take delivery of the Vessel, the Authorized Dealer will provide a credit to the final price of your Vessel equivalent to the amount of the Reservation Payment you paid. This Reservation Payment and this Agreement are not made or entered into in anticipation of or pending any conditional sale contract.

Delivery. If you are picking up your vessel in a jurisdiction where we are licensed to sell the Vessel, our Authorized Dealer will notify you of when your Vessel will be ready for delivery. Once notified that your Vessel is ready for you, you agree to timely schedule and take delivery of your Vessel within one week of this date. If you are unable to take delivery within the specified period, your Vessel may be made available by our Authorized Dealer for sale to other customers, unless agreed upon otherwise. If you wish to pick up your vessel in a state or jurisdiction where we are not licensed to sell the vessel, or if you and Electro Nautic otherwise agree, Electro Nautic will, on your behalf, coordinate the shipment of your Vessel to you from our factory in Perth, Western Australia or another state where we are licensed to sell the Vessel. In such a case, you agree that this is a shipment contract under which Electro Nautic will coordinate the shipping of the Vessel to you via a third-party common carrier. You agree that delivery of the Vessel, including the transfer of title and risk of loss to you, will occur at the time your Vessel is loaded onto the common carrier’s transport (i.e., FOB shipping point). The carrier will insure your Vessel while in transit and you will be the beneficiary of any claims for damage to the Vessel or losses occurring while the Vessel is in the possession of a common carrier.

While we will work hard to ensure that your Vessel is delivered by the Authorized Dealer on the planned delivery date, we cannot guarantee that the Vessel will be delivered on such date. Your actual delivery date is dependent on many factors, including your Vessel’s configuration and manufacturing availability. To secure your final payment and performance under the terms of this Agreement, we will retain a security interest in the Vessel and all proceeds therefrom until your obligations have been fulfilled.

Limitation of Liability. We are not liable for any incidental, special or consequential damages arising out of this Agreement. Your sole and exclusive remedy under this Agreement will be limited to reimbursement of your Reservation Payment. This limitation of liability clause shall not apply in cases of wilful misconduct, wilful deception or gross negligence on our part or in cases of death or personal injury.

No Resellers; Discontinuation; Cancellation. Electro Nautic and its affiliates sell vessels directly to end-operators, and we may unilaterally cancel any pre-order that we believe has been made with a view toward resale of the Vessel or that has otherwise been made in bad faith. We may also cancel your pre-order and refund your Reservation Payment if we discontinue a product, feature or option after the time you place your pre-order or if we determine that you are acting in bad faith.

Governing Law; Integration; Assignment. The terms of this Agreement are governed by, and to be interpreted according to, the laws of the country in which we are licensed to sell Marine Vessels that is nearest to your address indicated on your Vessel Configuration. Prior agreements, oral statements, negotiations, communications or representations about the Vessel pre-ordered under this Agreement are superseded by this Agreement. Terms relating to the pre-order not expressly contained herein are not binding. We may assign this Agreement at our discretion to one of our affiliated entities.

Region Specific Provisions. You acknowledge that you have read and understand the provisions applicable to you in the Region Specific Provisions included in this Agreement.

This Agreement is entered into and effective as of the date you accept this Agreement, by electronic means or otherwise. By confirming and accepting this Agreement, you agree to the terms and conditions of this Agreement.