Vermont § 504 - § 2A—504.

§ 504. § 2A—504.

• Liquidation of damages (1) Damages payable by either party for default, or any other act or omission, including
  indemnity for loss or diminution of anticipated tax benefits or loss or damage to
  lessor’s residual interest, may be liquidated in the lease agreement but only at an
  amount or by a formula that is reasonable in light of the then anticipated harm caused
  by the default or other act or omission. (2) If the lease agreement provides for liquidation of damages, and such provision does
  not comply with subsection (1) of this section, or such provision is an exclusive
  or limited remedy that circumstances cause to fail of its essential purpose, remedy
  may be had as provided in this article. (3) If the lessor justifiably withholds or stops delivery of goods because of the lessee’s default or insolvency (§ 2A—525 or 2A—526), the lessee is entitled to restitution of any amount by which the sum of his or her payments exceeds: (a) the amount to which the lessor is entitled by virtue of terms liquidating the lessor’s
  damages in accordance with subsection (1) of this section; or (b) in the absence of those terms, 20 percent of the then present value of the total rent
  the lessee was obligated to pay for the balance of the lease term, or, in the case
  of a consumer lease, the lesser of such amount or $500. (4) A lessee’s right to restitution under subsection (3) of this section is subject to
  offset to the extent the lessor establishes: (a) a right to recover damages under the provisions of this article other than subsection
  (1) of this section; and (b) the amount or value of any benefits received by the lessee directly or indirectly
  by reason of the lease contract. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995.)