AL-Termsp. z o.o.

Manner of representation

In the case of a multi-member management board, each member of the management board and the commercial proxy is authorised to make declarations on behalf of the company resulting in the disposal of a right whose value does not exceed PLN 50,000.00 (fifty thousand zlotys), inclusive, or in the creation of an obligation to provide a performance with a value of up to PLN 50,000 (fifty thousand zlotys), inclusive, independently. In the case of a multi-member management board, making declarations on behalf of the company resulting in the disposal of a right whose value exceeds PLN 50,000.00, or in the creation of an obligation to provide a performance with a value above PLN 50,000 (fifty thousand zlotys), requires the joint action of two members of the management board or one member of the management board together with the commercial proxy. Each member of the management board, the commercial proxy and the attorney-in-fact, within the scope of the authorisation, is authorised to make declarations of will and sign documents in non-property matters independently.