FRANKLIN EQUIPMENT RENTAL PROTECTION PLAN (Formally known as Damage Waiver)

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1 FERPP FRANKLIN EQUIPMENT RENTAL PROTECTION PLAN (Formally known as Damage Waiver) The Franklin Equipment Rental Protection Plan (FERPP) is a simple, affordable, and easy way to protect yourself from the unknown and to offset possible damages / theft that may occur during the equipment rental period. FERPP is added to every contract unless you opt-out by supplying the required insurance, FERPP is highly recommended, even with insurance, to ensure your protection is maximized while renting equipment. FERPP can fill gaps in your insurance coverage. A perfect example can consist of a loss that is within your insurance deductible or when the loss is greater than the deductible, but not large enough to file a claim. This cost comes right off your bottom line, FERPP will put that to ease. FERPP is 15% of the Rental Charge and billed to the customer. THEFT PROTECTION For equipment that has been stolen, the customer is responsible for 10% of the manufacturer s suggested list price, up to a maximum of $500. In the case of theft of equipment, responsibility on the customer is limited when you have paid and opted-in for the FERPP as well as comply with the rental contract agreement. You must file a proper police report of the theft within 48-hours of discovery of theft. If the equipment is recovered at a later date, Franklin Equipment retains ownership. All Claims for FERPP must be Submitted Online at within 48 Hours of the Incident and a Copy of the Police Report Must be Uploaded. EXAMPLE: A $50,000 SKIDSTEER LOADER STOLEN FROM A CONSTRUCTION SITE With FERPP Without FERPP Rental of Skidsteer Loader $400 $400 Cost of FERPP $60 $0 Initial Out-of-Pocket $460 $400 Cost to Replace Skidsteer Loader $50,000 $50,000 Deductible $500* $0 FERPP Benefit -$49,500 $0 Total Cost to Customer $960 $50,400 *Plus, applicable state and local taxes. SAVE $49,440 The Rental Protection Plan does not apply in situations involving damage that may be a result of intentional abuse.

2 DAMAGE PROTECTION For the cost of repairs (incidental or accidental), the customer is responsible for 10% of the cost of the repairs, up to a maximum of $500. The FERPP can protect you, as the customer, against unexpected expenses that could result from damage during the use of rental equipment. Almost always, insurance does not cover the cost of repair(s) or repair(s) cost within your insurance deductible. TIRE PROTECTION For every tire puncture / flat event, the first $50 of this repair is covered under the FERPP. All other is the responsibility of the customer if repair exceeds $50. RENTAL LIABILITY Customers are exempt from rental charges on damaged equipment covered by FERPP while it is being repaired and/or in the shop. The FERPP limits your responsibility for cost of repairs, as well as eliminating your liability for the rental amount normally charged during the period in which the equipment is repaired. HOW CAN I ADD PROTECTION? The FERPP is added to every contract unless you Opt-Out by supplying the required insurance, as specified by Franklin Equipment requirements, and say Opt-Out of the FERPP Coverage. Franklin Equipment Rental Protection Plan The Franklin Equipment Rental Protection Plan ( FERPP ) is NOT an insurance policy. The FERPP is an extended rental protection plan, for you or your company to help offset possible damages or theft that may occur during the equipment rental period. FERPP can only be opted-out with required insurance and marked as such in your customer account. Even with supplied insurance, it is highly recommended to maximize your total protection while renting equipment. The FERPP can also cover gaps in your insurance coverage such as when the loss is within your insurance deductible or when the loss is greater than the deductible, but not large enough to make filing a claim an option.

3 Opting-In for the Franklin Equipment Rental Protection Plan product, you will not be held responsible for the full replacement value of damaged or stolen equipment. If something does go wrong, you will be responsible for 10% of the damage costs or $500.00, whichever is less. * FERPP Covers Damage to Franklin Equipment Equipment Damage to Franklin Equipment Vehicles Theft of Franklin Equipment Equipment and Vehicles Damage to Tires FERPP Does Not Cover Damage to Equipment Resulting from Abuse or Misuse Any Operation Consistent with Demolition Accidental damage, as long as the damage does not result from intentional abuse of the equipment. Damage to Franklin Equipment vehicles, provided the customer or permissive user of a customer does not use the vehicle in violation of any terms of the Rental Agreement or of any law. Theft of equipment and vehicles. Damage to tires and tubes caused by blow out or punctures, or other causes inherent in the use of the equipment. Damage to equipment resulting from intentional abuse or misuse. Damage to equipment resulting from demolition (i.e. building) of any kind. Customer is responsible for the operation and safekeeping of the rental equipment from the time of delivery until retrieval by Franklin Equipment. Customer agrees that they will use their best efforts to protect the equipment from loss or damage at all times during the rental period, until the equipment is in Franklin Equipment s possession. See Complete Terms on Back of Contract:

4 INSTRUCTIONS FOR FERPP OPT-OUT Requirements for Submitting Certificate of Insurance General Certificate of Insurance (COI) for Rental: $1,000,000 Coverage a copy of your COI to Franklin Equipment A/R ar@fersps.com, your COI will be attached as a Digital File to the Customer s Account. Subject: Your Account Number

5 OLD Franklin Equipment (Damage Waiver) Damage Waiver Plan ( DWP ). If the customer initials the damage waiver plan box on the front of the rental contract/invoice, the customer will be liable for the full cost of replacing and/or repairing any loss or damage to the equipment from any cause whatsoever. If the customer does not initial the DWP, Franklin will waive its claim against the customer for loss or damage to the equipment: Expect as set forth in the contract, as outlined below, provided the equipment is used with Franklins Permission and in compliance with the contract, and the customer pays the additional fee specified on the contract. Wavier Exceptions. Notwithstanding the customers acceptance of the DWP, Customer will be liable for all resulting loss or damage to the equipment and expense of franklin if it results from the gross negligence of the customer which includes, but is not in any way limited to, the use or operation of the equipment in a reckless or abusive manner, or intentional damage to the equipment by the customer or with the customer s permission; or under any of the following circumstances: Damage Waiver Does Not Cover: a) All loss or damage caused by theft, vandalism or malicious mischief; b) All loss or damage resulting from overloading or exceeding the rated capacity of the Equipment or other misuse of the Equipment; c) Striking overhead objects with Equipment; d) All loss or damage associated with the Equipment s rollover or upset; e) All loss or damage resulting from lack of, or neglect or other proper servicing of Equipment; f) All loss or damage to the equipment resulting from any exposure to radioactive contaminated or hazardous material; g) All loss or damage to tires and tubes caused by blowouts, cuts, road hazards or causes other than normal wear and tear inherent in the use of equipment; h) All loss or damage to batteries, due to lack, or neglect of, Mainor from explosion due to welding on or near Equipment; i) Use or operation of the Equipment in violation of any law ordinance; j) Use or operation of the Equipment by a person other than an authorized operator as defined herein; k) Loss or damage to watercraft; or the accessories including but not limited to hose, power cords, blades, flue tanks, attachments and other accessories; l) Loss or damage caused by dishonesty of the customer, its employees or persons to whom the equipment is entrusted; m) Damages caused by or the third parties arising from accidental causes or for damages caused during unauthorized use of the Equipment; n) Loss due to mysterious disappearance or shortage disclosed on inventory; and o) Use of the equipment in violation of any of the terms of the contract.