Fundacja SpinkaFoundation

Manner of representation

1. Declarations of will on behalf of the foundation in matters related to incurring proprietary obligations and signing contracts up to a value of PLN 10,000 (in words: ten thousand zlotys) may be made independently by the President of the management board or a member of the management board. 2. In matters related to incurring proprietary obligations and signing contracts exceeding a value of PLN 10,000 (in words: ten thousand zlotys), they are made jointly by the President of the management board and a member of the management board. 3. Each member of the management board of the foundation is entitled to independently conduct, within the scope covered by the foundation's objectives, talks and negotiations with third parties, including sponsors, donors, investors and other persons, entities and institutions operating or potentially operating within the scope of the objective adopted by the foundation. 4. Talks and negotiations concerning the determination of the final terms of cooperation and the terms of concluding contracts with the third parties referred to in point 3 may be conducted in the presence of the President of the management board of the foundation or persons authorized by him in writing. 5. In employment matters and other matters not specified in the above points and not requiring action by the management board, decisions may be made independently by the President of the management board.