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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:

def retry_on_exception(tries=6, delay=1, backoff=2, max_delay=32):
    '''
    Decorator for implementing exponential backoff for retrying on failures.

    tries: Max number of tries to execute the wrapped function before failing.
    delay: Delay time in seconds before the FIRST retry.
    backoff: Multiplier to extend the initial delay by for each retry.
    max_delay: Max time in seconds to wait between retries.
    '''
    tries = math.floor(tries)
    if tries < 1:
        raise ValueError('"tries" must be greater than or equal to 1.')
    if delay < 0:
        raise ValueError('"delay" must be greater than or equal to 0.')
    if backoff < 1:
        raise ValueError('"backoff" must be greater than or equal to 1.')
    if max_delay < delay:
        raise ValueError('"max_delay" must be greater than or equal to delay.')

    def decorated_function_with_retry(func):
        @wraps(func)
        def function_to_retry(*args, **kwargs):
            local_tries, local_delay = tries, delay
            while local_tries > 1:
                try:
                    return func(*args, **kwargs)
                except Exception as e:
                    if local_delay > max_delay:
                        local_delay = max_delay
                    logging.exception('%s: Retrying in %d seconds...'
                                      % (str(e), local_delay))
                    time.sleep(local_delay)
                    local_tries -= 1
                    local_delay *= backoff
            return func(*args, **kwargs)
        return function_to_retry
    return decorated_function_with_retry