Grallsp. z o.o.

Manner of representation

The President of the Management Board independently if the management board is a one-person management board. The company is represented by the President of the Management Board, and in the case of a multi-member management board, each member of the management board is authorised to make declarations and sign on behalf of the company independently if this involves disposing of a right whose value does not exceed PLN 10,000 or if these acts may result in the company becoming obliged to render a performance whose value does not exceed PLN 10,000, whereas if the value exceeds this amount, joint action by two members of the management board or by a member of the management board with a commercial proxy is required. In matters of a specified type or for handling individual matters, the management board may grant a one-person power of attorney in writing, specifying the scope of the power of attorney. In agreements between the company and a member of the management board and in matters in which the management board’s action is excluded, the company is represented by an attorney-in-fact appointed by the meeting of partners.