Ost-Commerz Polskasp. z o.o.

Manner of representation

With a multi-member management board, each member of the management board is authorised to submit declarations on behalf of the company independently if the disposal of a right or the assumption of an obligation to render a performance does not exceed the amount of PLN 10,000.00 (ten thousand Polish zlotys) net. The disposal of a right or the assumption of an obligation to render a performance with a value exceeding PLN 10,000.00 (ten thousand) net requires joint representation in the form of concordant declarations of will by two members of the management board or by a member of the management board and a commercial proxy of the company. With a multi-member management board, the President of the Management Board is authorised to submit declarations on behalf of the company regardless of the value of the disposal of the right or the assumed obligation.