Art-Bud Okna Szkop Sobierskisp. j.

Manner of representation

1. Each partner has the right to represent the company. Each partner is independently entitled to make declarations of will and sign on behalf of the company, except that above PLN 500,000.00 two partners jointly, or one partner jointly with a commercial proxy, are entitled to do so. 2. In matters exceeding the scope of the company's ordinary acts, a resolution of all partners of the company is required. Each partner entitled to represent the company may, without a resolution, undertake an act exceeding the scope of the company's ordinary acts if failure to undertake it could cause serious harm to the company. 3. Resolutions of the partners are adopted at meetings held at times and places agreed by all partners. Each partner is obliged to act jointly with the other partners in determining the times and places of meetings and to participate in partners' meetings. 4. The following are in particular deemed acts exceeding the scope of ordinary acts: a) obligations or expenditures with a value exceeding PLN 500,000 (in words: five hundred thousand zlotys); b) disposing of or encumbering the joint property in any manner. 5. By resolution, the partners may authorise one of them to independently conduct a specified matter or matters exceeding the scope of the company's ordinary acts.