|
LIMITATION OF LIABILITY
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and as an inducement for the Company (defined below) to enter into a business relationship with the undersigned, the undersigned does hereby agree that the Company's sole obligation and the undersigned's sole remedy for any loss or damaged suffered by the undersigned, directly or indirectly, arising out of, relating to or connected in any way to any transaction or dealing with the Company shall be limited to the extent and amount directly recoverable from the Company's liability insurance carrier. There may be additional liability insurance available to the undersigned through the Company's insurance carrier. In the event the undersigned desires such additional insurance, the undersigned shall notify the Company, in writing, and the Company shall seek to obtain terms and rate quotes from its insurance carrier for review by the undersigned. Should the undersigned desire to obtain such additional insurance, and should said insurance carrier agree to provide such insurance, the undersigned shall reimburse the Company for the additional insurance premiums. Notwithstanding the above, the Company shall be responsible for any loss or damage directly suffered by the undersigned if such loss or damage was the direct result of the Company's gross negligence, recklessness or willful misconduct. It is further understood and agreed that the undersigned has had the opportunity to have this agreement reviewed by an attorney, that the undersigned has read this agreement and fully understands the final and binding effect of this agreement and that the undersigned is signing this agreement voluntarily. For purposes of this agreement, the term "Company" means Fur Online Inc, and their respective directors, shareholders, officers, legal representatives, agents, employees, successors and assigns, jointly and severally. |