Reservation Agreement

Reservation Agreement

Reservation Agreement

July 1, 2025

Thank you for your interest in Reservoir—the world’s most powerful electric water heater (“Product”). These Reservation Terms (“Terms”) outline the conditions under which you (“you” or “your”) can place a reservation (“Reservation”) with Carnot Labs, Inc. d/b/a Reservoir (“Reservoir,” “we,” “us,” or “our”).

THIS IS A LEGALLY BINDING AGREEMENT. IT INCLUDES AN ARBITRATION CLAUSE THAT AFFECTS YOUR LEGAL RIGHTS. PLEASE REVIEW IT CAREFULLY BEFORE PLACING A RESERVATION.

By placing a Reservation, you confirm that you have read, understood, and agree to these Terms. If you do not agree, including to the arbitration provisions in Section 7, do not proceed with the Reservation.

1. No Purchase Commitment

Your Reservation secures a spot to potentially purchase a Product in the future. Neither you nor Reservoir is obligated to complete a transaction. A Reservation does not lock in a price or guarantee delivery timing, nor does it constitute a binding purchase contract.

Before production of your reserved unit begins, we will request that you confirm your interest in purchasing the Product. At that time, we’ll provide a quote outlining the final purchase price and related estimates—such as taxes, shipping, and other fees—along with formal purchase terms (the “Purchase Agreement”). Upon signing the Purchase Agreement, the Reservation Fee (described below) becomes non-refundable and is credited toward the purchase.

2. Payment Terms

A non-refundable fee (the “Reservation Fee”) is charged when you submit your Reservation. You agree to provide accurate payment details to our designated third-party processor, and to update that information as needed. By submitting your payment, you confirm authorization to use the payment method and consent to the charge. The Reservation Fee is not held in trust or escrow and does not earn interest.

3. Cancellations & Refunds

You or Reservoir may cancel your Reservation at any time before entering into a Purchase Agreement. If canceled, you will receive a full refund of the Reservation Fee.

To cancel, email hello@reservoirhome.com with your name and the email address used for the Reservation. Refunds are typically processed within 5–10 business days. If we cancel your Reservation, your original payment method will be refunded in full.

4. Use of Personal Information

Your personal information will be used in accordance with our Privacy Policy, which is available at https://www.reservoirhome.com/privacy and is incorporated into these Terms by reference. By reserving a Product, you agree to the terms of that policy and our handling of your data.

5. Communications Consent

By providing your phone number and/or email address, you agree to receive messages from us, including calls, texts, and emails. These may contain confidential or sensitive information. You can update your communication preferences at any time by contacting us. Separate consent may be requested for marketing communications.

6. Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY LAW, RESERVOIR AND ITS AFFILIATES SHALL NOT BE LIABLE FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR PUNITIVE DAMAGES, REGARDLESS OF HOW THEY ARISE OR THE LEGAL THEORY INVOKED.

IN NO EVENT WILL OUR TOTAL LIABILITY TO YOU EXCEED THE AMOUNT PAID AS A RESERVATION FEE.

Some jurisdictions do not allow the exclusion of certain damages, so these limitations may not apply to you in full.

7. Dispute Resolution

Any dispute or claim arising from these Terms shall be resolved through binding arbitration, as detailed in our Terms of Service. You waive the right to a jury trial or to participate in a class action.

8. Governing Law

These Terms are governed by the laws of the Commonwealth of Massachusetts, without regard to conflicts-of-law rules. The United Nations Convention on Contracts for the International Sale of Goods does not apply.

9. Changes to Terms

Any changes to these Terms must be made in a written document signed by Reservoir. We do not permit verbal modifications.

10. Transferability

You may not assign your Reservation or rights under these Terms without our written approval. We may transfer or assign these Terms and any related rights at our discretion.

11. Waiver

Failure to enforce any term does not waive our right to enforce it later. Any waiver must be in writing and signed by an authorized Reservoir representative.

12. Entire Agreement

These Terms, together with the Reservation confirmation and our Privacy Policy, form the entire agreement between you and Reservoir regarding your Reservation.

13. Severability and Interpretation

If any part of these Terms is found invalid, the remainder remains in full effect. The terms “including” and “or” are to be interpreted expansively unless otherwise specified.

14. Electronic Acceptance

These Terms may be accepted electronically. Your agreement constitutes an electronic signature and a binding contract.