IT Solution Factorsp. z o.o.

Manner of representation

1. In the case of a one-person management board, declarations on behalf of the company are made by the member of the management board. In the case of a management board consisting of two or more persons, the following are authorised to make declarations on behalf of the company: 1) the President of the Management Board independently in every case, 2) the Vice-President of the Management Board independently in the case of: a) legal acts whose term does not exceed 12 (twelve) months or exceeds 12 (twelve) months or which are concluded for an indefinite period – if the value of the act does not exceed PLN 1,000,000 (one million zlotys) gross or the equivalent of that amount in another currency, b) legal acts whose term exceeds 12 (twelve) months or which are concluded for an indefinite period, where the total value of the acts for the entire period for which they were concluded exceeds PLN 1,000,000 (one million zlotys) gross or the equivalent of that amount in another currency – if the value of those acts for a period of 12 (twelve) months does not exceed PLN 1,000,000 (one million zlotys) gross or the equivalent of that amount in another currency. Legal acts include, among other things, entering into, amending and terminating agreements, making declarations of will related to those agreements, and granting and revoking powers of attorney. Legal acts may be performed by the Vice-President of the Management Board repeatedly, and each legal act is assessed separately. 3) in all other cases – two members of the management board, including the Vice-President, acting jointly, or one member of the management board, including the Vice-President, acting jointly with a commercial proxy.