1. Limitation of liability - cognovits clause.

The responsibility for the decision of a coxswain to participate in a race or to continue with it is solely with him; to that extent he also takes the responsibility for his crew. The coxswain is responsible for the qualification and the correct nautical conduct of his crew as well as for the suitability and the transport-safe condition of the registered boat. In cases of Force Majeure or on grounds of administrative orders or for safety reasons, the organizer is entitled to make changes in the realization of the event or to cancel the event. In these cases there does not exist any liability for compensation of the organizer to the participant. In case of a violation of obligations that do not constitute primary respectively material contractual duties (cardinal obligations), the liability of the organizer, no matter because of which cause in law, for material and property damages of all kinds and their consequences that arise to the participant during or in connection with the participation in the event resulting from a conduct of the organizer, his representatives, servants or agents, is restricted to damages that were caused willfully or grossly negligent. When a violation of cardinal obligations occurs, in cases of simple negligence the liability of the organizer is limited to foreseeable, typically occurring damages. To the extent that the liability for damages of the organizer is excluded or restricted, the participant also relieves the staff - employees and representatives, agents, servants, sponsors and individuals who provide or drive salvage, safety or rescue vessels or assist with their use - from the individual liability for damages, as well as also all other individuals who were instructed to act in connection with the realization of the event. The effective racing rules of the ISAF, the administrative regulations regatta-sailing and the articles of association of the DSV, the class rules as well as the regulations of the invitation to the competition and the sailing instructions are to be complied with and are expressly recognized.

2. The Austrian law shall prevail.