MOTOMORINI RENT BOOKING AND PAYMENT TERMS AND CONDITIONS

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1 MOTOMORINI RENT BOOKING AND PAYMENT TERMS AND CONDITIONS 1. Booking Terms and Conditions 1.1 This agreement (the Agreement ) governs the online booking terms and conditions to apply between you (the Customer ) and Moto Morini Rent S.r.l. ( MMR ) and will not amount to a motor vehicle rental agreement. The rental services (the Rental Services ) will be provided under a separate contract. In addition, the Customer will be subject to MMR standard terms and conditions regarding driving requirements. 1.2 The Customer will enter into the rental contract in accordance with the procedure set out on the website. 1.3 The Customer acknowledges and agrees that every contractual relationship between the Customer and MMR in relation to the Rental Services will only commence as of pickup of the motorcycle by the Customer. 1.4 The Customer acknowledges that the motorcycle rented can only circulate within Europe. 2. Online Pre-Paid Service Terms and Conditions 2.1 By clicking on the button I Agree in the first step of the booking process, the Customer will exclusively enter into this Agreement with MMR, and will be bound by its terms and conditions. By entering into this Agreement, the Customer agrees to purchase a voucher from MMR having a par value equal to the amount of the rate indicated by MMR. MMR will issue the voucher, transmit it to the Customer by and book the Rental Services. In order to be allowed to use the Rental Services, the Customer will have to hand in his voucher to the local dealer where he may pick up the motorcycle. 2.2 The Customer undertakes to pay the full amount reported on the voucher (which entitles the bearer to use the Rental Services against delivery of the voucher) at the time of online booking through our website. Payment may be made by credit card or bank transfer. The voucher will not be issued unless MMR has received the amount due in full. By accepting this Agreement, the Customer agrees and authorizes MMR to charge the Customer s credit/debit card with the amount reported on the voucher plus a EUR security deposit. 2.3 The voucher purchased by the Customer entitles the latter to the rental (VAT included) of the motor cycle chosen by the Customer for the dates reserved by the Customer as well as to the other items specifically included in the price at the time of reservation at the rates quoted by MMR to the Customer. 2.4 With the exception of Long Rents, in case of cancellation of the reservation from 15 up to 3 days in advance of the booked pick-up date, the Customer will be charged with a cancellation fee by way of indemnification equal to 50% of the agreed rate; in case of cancellation 2 days in advance of the booked pick-up date or later, the cancellation fee will be equal to the full agreed rate. MMR will refund the Customer the amount of the voucher exceeding the cancellation fee. 3. Liability 3.1 In case of failure by MMR to make the booked motorcycle available, MMR will exclusively be liable for, and will only refund, the amount paid for the reserved rental period. MMR will not be liable for any cost or damage (including but not limited to loss of expected profits or opportunities). The limitations of liability provided hereunder will not apply in the cases envisaged by Article 1229 Italian Civil Code. Date _

2 I Agree _ Pursuant to and to the effects of Articles 1341 and 1342 Italian Civil Code, the Customer hereby declares to have taken cognizance of and expressly approve the following provisions: 2.4 (indemnification in case of cancellation), 3.1 (limitation of liability) I Agree _

3 DRIVING REQUIREMENTS The following three requirements are obligatory and essential in order to rent with MMR. Said requirements may be subject to variations without notice, which the Customer may duly view at the time of picking up the motorcycle. 1. DRIVING LICENSE: General driving license requirements: - the Customer must produce the original driving license (no copies admitted); - the driving license must be valid at the time of rental, with expiration date after the expected date of return; - the driving license must bear no abrasions or erasures, or be deteriorated in a manner such as to impair its legibility; - the driving license must bear no corrections unless they are certified by the issuing authority by appropriate stamping. Italian Driving License Pending renewal: To rental purposes, an expired driving license may be accepted on condition that it be accompanied by a valid ID document and by the original appropriate medical certificate (the validity of which will be checked) attesting the holder s psychic and physical capacity to drive, serving as provisional driving license substitute, and having a validity of 6 months from date of issue. Pending change of residence: To rental purposes, where it the Customer s residence details reported on the driving license should result to be different from those reported on the ID document, the Customer will be required to provide a certificate issued by the Municipal Authorities attesting change of residence. Said certificate must be kept together with the driving license until the Customer receives the appropriate sticker with the new residence details. Duplicate in case of loss, theft, or destruction: To rental purposes, the Provisional Driving Permit, having a validity of at least 90 days from the date of issue, will be accepted provided that it is accompanied by a valid ID document. Foreign Driving Licenses Driving Licenses Issued by EU Member States: All valid, not expired driving licenses issued by a EU Member State, will be accepted for rental purposes, provided that they are accompanied by a valid ID document. The driving license holder who has acquired residence in Italy since a year or more, has no obligation to convert his/her home country driving license but must have it recognized in Italy by Motorizzazione Civile (Driver and Vehicle Licensing Center) within 90 days. Driving Licenses Issued by non-eu Member States: A Customer with a driving license issued by a non-eu Member State, in order to rent a vehicle, must show, together with his/her valid, not expired home country driving license, an international driving permit or a sworn translation of his/her driving license legalized by the Embassy or Consulate. The international driving permit is only valid for the period of time indicated on it. The driving licenses of non-eu citizens who have been residing in Italy for one year or more are no longer valid, even if they are accompanied by a not yet expired international driving permit. A single kind of European driving license has been introduced and is already in use, valid all over Europe. It is equipped with a hologram/microchip and sophisticated anti-fraud systems, and will be recognized in all EU Member States. If the driving license does not bear the holder s signature and address, the Customer will have to show an ID document.

4 All driving licenses, whether Italian or foreign, must be such as to allow the holder to drive a motorcycle having a cylinder capacity and power equal to or greater than the motorcycle they intend to rent; in addition, the Customer must have held the driving license for at least 24 months. 2. MINIMUM AGE: The Customer must be 21 years of age or older, and have held the driving license for at least two years. 3. REPRESENTATIONS: The Customer undertakes not to provide false information as to the Customer s details, age, address and satisfaction of statutory requirements for driving qualification purposes, and hereby expressly releases MMR from any and all prejudicial consequences to be incurred by the latter in case of misrepresentation and/or false statement. READ, AGREED TO AND ACCEPTED I AGREE

5 RENTAL CONTRACT Mr./Ms. (First Name, Last Name) Born in On Resident at Identification Document Number Driving License Number Hereby rents the motorcycle Moto Morini model Frame Number License Plate Number On the dates from For the price of EUR through (VAT Included) Additional Driver Mr./Ms. (First Name, Last Name) Born in On Resident at Identification Document Number Driving License Number Pick up Drop off Additional Services Helmet Bags For the total price of EUR (VAT Included) Terms of Contract

6 Moto Morini Rent S.r.l. ( MMR ) hereby grants the Customer the motorcycle indicated on the front page hereof on rent subject to the terms of contract set out below, and available in their entirety at under the caption MOROMORINI RENT, and to the Booking and Payment Terms and Conditions and Driving Requirements, likewise available on the same website and fully incorporated herein by way of this reference. (A) Insurance coverage (automobile liability insurance); equipment MMR motorcycle insurance includes third party liability (automobile liability insurance), as required by the laws applicable in the country where the motorcycle is registered and insured against fire and theft. It is hereby specified and agreed that should the Customer, either directly or through a third party, put into place any conduct such as to prejudice the insurance coverage, the Customer will be personally liable for any damage to people and/or property. The ensuing recourse action to recover the amount paid, pursuant to law, by the insurance to MMR, will be brought by the insurer against the Customer and no claim whatsoever may be rasied against the insured (i.e., MMR). (B) Motorcycle pick-up and drop-off Rental will begin on the day and at the time the motorcycle is delivered to the Customer (pick-up) and will end on the day and at the time the motorcycle is surrendered by the Customer to MMR (drop-off) in compliance with the online reservation. The motorcycle is delivered in perfect condition and will be surrendered in the same condition as on delivery (ordinary wear and tear excepted) at MMR/local dealer on the day and at the time specified in this Rental Contract. Upon surrender, it is the Customer s obligation to require an MMR operator to sign the Check-In Report with the indication of the actual conditions of the motorcycle and fuel level. In default, the findings documented by MMR will be deemed valid and implicitly accepted. The motorcycle will be surrendered at the place of pick-up on the date set out in the reservation. If the Customer wishes to change the terms of surrender (place, date, time), MMR s prior written authorization must be sought at least 24 hours in advance of the agreed surrender date. In that case, a surcharge of up to EUR may be applied to the rental price, plus, if the case be, the rate applicable to the extended rental time if, due to force majeure, the drop-off location is different from the original place of surrender. In the absence of authorization, after a 59 minute leeway on the agreed date and time for surrender, extra days will be charged at the highest daily rate published in MMR applicable lists. Failing any communication within 24 hours after the agreed drop-off date and time, MMR will duly file report with the police, charging all ensuing costs and expenses to the Customer. In addition, if the motorcycle is dropped off at a location other than the rental location without MMR s authorization, the Customer will also be charged with the associated documented recovery costs incurred by MMR as well as any extra rental rates, loss of profits due to the unavailability of the motorcycle, and compensation for any damage suffered. If the motorcycle keys are not returned due to loss or any other reason, the Customer will pay for the substitution of the ignition switch and keys and any other necessary intervention in connection therewith. Finally, it is expressly understood that MMR reserves the right to refuse the motorcycle in the event MMR should deem the documents submitted by the Customer unsatisfactory or for any other reason as MMR, in its sole discretion, may elect. Under this Rental Contract the Customer is granted the possession of the motorcycle only, whereas its property will remain with MMR which may freely dispose of it. MMR reserves the right to terminate the agreement in its sole discretion in case of violation of any of the terms and conditions hereof and require immediate surrender of the motorcycle while retaining the security deposit to cover any and all costs and charges incurred. Unless otherwise provided herein, the Customer hereby acknowledges to hold no property right in the motorcycle rented and/or the accessories supplied with it, and to consequently have no right to dispose thereof in any manner. (C) Rental guaranteed by credit card/bank transfer

7 The Customer signing the contract (first driver) will provide a credit card (VISA, MasterCard, America Express, or Diners Club) to guarantee the rental. To that purpose, a security deposit will be required in the form of a EUR authorization on the credit card. The security deposit may also be paid by bank transfer. If, upon surrender of the motorcycle, the latter should result to have been damaged, the security deposited will be retained by MMR as penalty. Otherwise, the security deposit will be fully or partly offset against the sums payable to MMR in consideration of the services provided hereunder. In that event, the Customer hereby authorizes use of his/her credit card (or of the sum paid by bank transfer). (D) Motorcycle maintenance The Customer undertakes and agrees to make proper and diligent use of the motorcycle, and will be liable for any and all damage caused to the same. The Customer must check motor oil, coolant, and brake fluid levels regularly and, in any case, every 1,000 kilometers. The Customer is required to effectuate every Service stated in the vehicle's Warranty and Service Manual, by following the indicated Kilometers and referring to the nearest Moto Morini Service. MMR will take charge of the Service costs: in the event of noncompliance by the customer, the same will be liable for any possible damage. Garage, washing and puncture mending expenses will remain at the Customer s charge. Oil and greasing required by ordinary wear and tear will be reimbursed only against presentation of regular, duly acquitted invoices (bearing date, dealer s name and address, motorcycle license plate, and number of kilometers) made out in the name of Moto Morini Rent S.r.l., subject to MMR s prior authorization. in case of breakdown or failure, the Customer will contact MMR Customer Care which will organize recovery of the motorcycle; in the meantime the Customer will not leave the motorcycle unguarded. (E) Use of the motorcycle The motorcycle may be driven by the Customer or, where so provided on the rental contract front page, by the additional driver, provided that both are 21 years of age or older, and hold a valid driving licenses (issued at least 24 months before and qualifying the holder to drive the motorcycle) and another valid identification document. Driving licenses printed in types other than the Latin alphabet (namely, Arabic, Chinese, Japanese, Cyrillic, etc.) must be accompanied by an international driving permit. The motorcycle cannot be driven by other people, unless otherwise authorized in writing by MMR. In addition, the motorcycle cannot be driven under the effect of alcohol or narcotics, abnormal psychic and/or physical conditions, and/or conditions in contrast with driving rules (Codice della Strada). Any driving offence will amount to failure by the Customer to perform to contract. The Customer and the additional driver undertake and agree to wear helmets validated in compliance with the law. Under pain of the Customer s full liability, the motorcycle will be used in accordance with the principle of the diligence of a good pater familias (reasonable diligence Article 1176 Italian Civil Code); in particular it cannot be used: (a) for illegal transportation of goods (smuggling, narcotics, dangerous goods, etc.); (b) for transportation of passengers against express or implicit compensation; (c) for unlawful purposes; (d) for sub-renting and/or ill-advised entrusting to a third party on any account whatsoever; (e) driving under the effect of alcohol or narcotics, in a state of insensibility, or under abnormal psychic and/or physical conditions; (f) for speed races, ground proofs, or competitions of any kind whatsoever; and/or (g) in contrast with driving rules (Codice della Strada). (F) Accidents, damage and casualties ASSISTANCE IN CASE OF FAILURES AND/OR BREAKDOWNS The Customer will notify MMR of any road accident or damage, including the loss of the key(s), in writing within 24 hours from occurrence of the event, using the CID form to be found among the documents

8 provided with the motorcycle, or the Accident/Loss Report Form, and seeing to that the relevant authorities make the necessary verifications. In case of theft, failure to comply with the above obligation and file a report with the authorities will amount to a breach of contract while at the same time causing serious damage to MMR: consequently, the Customer will be charged the security deposit as penalty, subject in any case to compensation for any further damage. MMR provides a motorcycle recovery service in case of breakdown/accident (as per the indications in the Booklet provided with the motorcycle). The Customer will call MMR and/or the Customer Care to advise of the problem occurring to the motorcycle, will not abandon it, and will surrender it together with the keys and documents to the recovery service so activated (as indicated in the Booklet). In case of technical hitch not to be ascribed to the Customer and preventing the use of the motorcycle rented, MMR will, if possible, provide a substitute motorcycle. Otherwise the Customer will receive a refund for the portion of the paid rented period during which he/she could not use the rented motorcycle. Every puncture will be repaired by the Customer who will be obliged to report it to MMR for evident safety reasons. In case of seizure of the motorcycle by the judicial authorities for any cause to be imputed to the Customer, MMR will charge to the latter the daily rental rate until release from seizure for a maximum amount equal to the value of the motorcycle upon expiry of the rental period. (G) The Customer will pay MMR: 1. The rental price calculated on a kilometre rate and time rate basis; 2. Indemnification within the limits of deductible for any damage caused to the motorcycle or parts or accessories of the same, as well as refund of the accident administrative management costs; the same will apply in case of theft of the motorcycle or parts and accessories thereof; 3. Any further sum due if the motorcycle is surrendered to MMR in a location other than the place of delivery to the Customer; 4. Refund of the cost of replenishing fuel to the level resulting at the time of the motorcycle pick-up; 5. Any circulation charges, taxes, and administrative expenses; 6. An amount equal to the fines inflicted on the Customer and/or MMR for violations of the applicable driving rules (Codice della Strada), or motorway tolls in relation to the use of the motorcycle by the Customer, who since now accepts the charge on his/her credit card (or retainer from the sum wired) of the fines served after closure of contract and relating to the rental period as well as the sums for all the associated costs, including legal expenses, incurred by MMR; 7. Refund of all costs, including legal expenses, and other charges incurred by MMR to seek payment by the Customer of the amounts due by the same; 8. Any penalty or additional cost provided for, if the case be; 9. The fee corresponding to any other service the Customer has benefited of. The above sums will be charged to the Customer s bank account by debiting the credit card or by deducting them from the deposit wired on entering the rental contract, in accordance with the modes provided by the card issuing entity. In the event of rental made in the name or on behalf of a corporate person, the signatory hereof will be jointly and severally liable with said corporate person for anything provided for by the terms and conditions attached hereto, including but not limited to in case of failure to pay compensation for the damage caused, misappropriation, fines, etc. Moto Morini Rent S.r.l. s invoices for the above sums will be payable at sight. In case of late payment, interest will accrue on all sums due to Moto Morini Rent S.r.l. at the rate provided by the law, except for any other more favourable applicable terms of law.

9 (H) Liability Without prejudice to the motorcycle manufacturer s liability for any construction defects, MMR will carry out all ordinary maintenance and repair so as to rent the motorcycle in properly and fully working condition. In no event, however, will MMR be responsible for any damage suffered by the Customer or any third party and deriving from mechanical faults occurring during the rental period, road accidents, use of the rented motorcycle, delay in delivery, breakdowns or failures, unforeseen events and any other cause beyond MMR s control or any other type of damage occurring as a consequence of theft, force majeure, or acts of God. Any objects or properties left on the motorcycle will be deemed abandoned and MMR will not be liable for any damage to the Customer s properties nor will be bound to keep and return them. (I) No assignment or transfer The Customer undertakes and agrees not to assign, transfer, sell, mortgage, or pledge the motorcycle, tools, equipment, and any other part of the same and in any case not to act in contrast with MMR s property rights in and to the motorcycle. (J) Substitution of the motorcycle MMR reserves the right to refuse to provide a substitute motorcycle in case of accident, breakdown, failure, damage, or on any other account in its sole discretion, without need for any justification for such refusal. It is expressly understood that no substitute motorcycle will be provided in case of theft or fire. (K) Jurisdiction For any and all controversy deriving from and/or arising in connection with the motorcycle rental, and specifically any action necessary to enforce recovery of the credit accrued by MMR, the judicial authorities of Milan will have exclusive jurisdiction. This clause will not apply to Customers qualifying as consumers pursuant to Article 3.1 Italian Consumers Code. (L) Loss MMR will in no event be liable for the loss of the objects and properties that the Customer or any third party may have left or loaded on the motorcycle during the rental period, or after the restitution of the motorcycle. (M) Variations Any variation and/or addition to these terms of rental contract will not be valid and enforceable unless made in writing. (N) Long Rent (N)1. Under the Long Rent contract it is possible to rent a motorcycle for a period of 18 months. The rate for this kind of rental is equal to half the list price of the motorcycle chosen by the Customer, with the possibility to customise it (as to the colour of chassis, frame, and motor) subject to payment of the corresponding additional costs, and an increase of EUR 170 (one hundred and seventy) per month as rent for the services described here below. Ordinary maintenance and repair is to be made by and at the charge of the Customer (including but not limited to oil change, oil filter change, air filter change, etc.). (N)2. On entering into this contract, the Customer will have to pay the full rental rate, equal to half the price of the motorcycle, and a EUR 900 (nine hundred) security deposit. The monthly rent includes: automobile liability, theft, fire and no-fault motor insurance coverage, the first two services, and a set of tyres. The Long Rent rate further includes 15,000 Km, with an additional cost of EUR 0.25 per kilometre in excess of said threshold, payable monthly starting from when the threshold is exceeded. In case of earlier termination of contract, no sum will be due to the Customer. (N)3. It is hereby agreed that upon expiry of the rental period the Customer will have an option to purchase the motorcycle rented. The Customer will notify his/her intention to exercise said option within 15 days from expiry of the rental period, on pain of forfeiture, and, at the same time, pay the price equal to the remaining portion of the price of the motorcycle of his/her choice (plus transfer of property costs).

10 Failing exercise of the option, in the event the Customer should, within six (6) months of the expiry of the Long Rent contract, enter into a new Long Rent contract or purchase a new motorcycle, a EUR 1,500 discount will be applied to the list price of the motorcycle chosen by the Customer. All amounts are inclusive of VAT. Long Rent contracts are subject to the remaining terms and conditions hereof and, insofar as compatible, law provisions on rental of movable properties. (O) Acceptance of terms of contract The Customer, by signing this contract, accepts and agrees to rent the motorcycle indicated at the price and on the terms and conditions stated herein and further authorizes MMR to charge his credit card with/withhold on the sum transferred any amount due in relation thereto. (P) Use of the motorcycle For safety reasons and for the proper maintenance of the motorcycle, the Customer will abide to the maximum limits of kilometres provided for the different rates of choice. As a consequence, should the agreed number of kilometres be exceeded, MMR reserves the right to apply greater costs as specified in the rental contract. The motorcycle rented will be driven on asphalted roads and cannot be used to participate in any race/competition. (Q) Assumption of liability The Customer and additional driver hereby declare to be aware that in case of failure to surrender the motorcycle in accordance with the agreed contractual terms, failing any valid reason to the contrary (force majeure) they will be liable for the criminal offence of misappropriation or, in case, fraud in contract. DATE Standard rental THE CUSTOMER I AGREE Long Rent THE CUSTOMER I AGREE (R) Specific approval Pursuant to and to the effects of Articles 1341 and 1342 Italian Civil Code, the Customer hereby declares to expressly approve the conditions set out in paragraphs A (Insurance coverage), B (Delivery and surrender), C (Rental guarantee), F (Accidents, damage and casualties), H (Liability), J (Substitution), K (Exclusive jurisdiction), and L (loss). Long Rent: 2 (Insurance coverage)

11 THE CUSTOMER I AGREE

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