Pixel-Techsp. j.

Manner of representation

1. Each partner has the right to represent the company independently, provided that the assumption of an obligation to perform with a value exceeding PLN 25,000 (in words: twenty-five thousand) or a disposition of a right with a value exceeding PLN 25,000.00 (in words: twenty-five thousand zlotys) requires the action of two partners acting jointly, subject to point 2 below. 2. In the case of acts relating to labour law, each partner may represent the company independently. 3. In the case of obligations performed periodically for a period longer than the period of successive 12 calendar months, an act with a value exceeding PLN 25,000.00 (in words: twenty-five thousand) is deemed to mean exclusively an act creating an obligation where the total of the obligations arising from that act during the successive 12 months exceeds PLN 25,000.00 (in words: twenty-five thousand).