Java script error on an purchased themeforest WP theme

I have a premium theme purchased from themeforest.

i am getting a javascript error located here
wp content/themes/Hermes/functions/jquery.slider-min.js?ver=1.0

Error message:
TypeError: d.settings.value is undefined

i have contacted the theme author to help fix the problem, but i am not getting any response. Since i am on my own to fix this, i am wondering if you can help?

site is at
http://casarubio.ew3d.com/

theme is at
http://themeforest.net/item/hermes-for-business-corporate-resort-and-hotel/272347

thank you