C4 - Architekci Przybyłowski, Zającsp. j.

Manner of representation

A. Each partner independently or an appointed commercial proxy is authorised to represent the company and submit declarations of will on behalf of the company in matters not exceeding the scope of ordinary activities. Matters not exceeding the scope of ordinary activities include matters that do not concern the disposal of a right or the incurring of obligations exceeding PLN 2,000 (in words: two thousand zlotys). B. In matters exceeding the scope of ordinary activities, the joint action of two partners or one partner and a commercial proxy is required to represent the company and submit declarations of will on its behalf; these matters include matters concerning the disposal of a right or the incurring of an obligation with a value of up to PLN 20,000 (in words: twenty thousand zlotys). C. In matters concerning the disposal of a right or the incurring of an obligation with a value exceeding PLN 20,000 (in words: twenty thousand zlotys), the acquisition by the company of shares or stocks in other business entities, the acquisition or disposal of real estate, the taking out of loans or borrowings, the establishment of a pledge, mortgage, transfer of ownership by way of security and other encumbrances on the company's assets, and the incurring of obligations with a deferred payment date owed to the company for a period exceeding three months, the company must be represented by all partners. D. All partners jointly employ employees in the company and determine their working and remuneration conditions. However, each partner may independently terminate an employee's employment contract or the employee's working and remuneration conditions.