TIM Chemsp. z o.o.

Manner of representation

For making declarations of will and signing documents in non-property matters, each member of the management board, commercial proxy and attorney-in-fact within the scope of authorisation is authorised to act independently. Where the management board consists of two or more persons, for making declarations on behalf of the company that result in the disposal of a right whose value does not exceed, including, the equivalent in Polish zloty of PLN 50,000 (fifty thousand zlotys), or the creation of an obligation to render a performance equivalent to up to, including, PLN 50,000 (fifty thousand zlotys), each member of the management board and the commercial proxy is authorised to act independently. Where the management board consists of two or more persons, for making declarations on behalf of the company that result in the disposal of a right whose value exceeds the equivalent in Polish zloty of PLN 50,000 (fifty thousand zlotys), or a right to an obligation to render a performance equivalent to more than PLN 50,000 (fifty thousand zlotys), joint action of two members of the management board or one member of the management board together with the commercial proxy is required.