What does this Extended warranty cover?

If at any time after the date of purchase the CladMate fails due to a defect in material or workmanship, or as a result of normal wear and tear from ordinary use, CladMate will repair the failed CladMate or component part of the CladMate free of charge. If the failed CladMate or component part of the CladMate cannot be repaired, CladMate will elect to either (A) replace the CladMate free of charge or (B) refund the full purchase price to the owner. see full details >