JIMI Karankievitch FoundationFoundation

Manner of representation

1. In the case of a management board consisting of two members, each member of the management board makes declarations of will concerning the disposal of the foundation’s financial resources independently; in the case of a management board consisting of three members, two persons among the members of the foundation’s management board acting jointly make such declarations. 2. In the case of a management board consisting of two members, each member of the management board is authorised to conclude all agreements on behalf of the foundation independently; in the case of a management board consisting of three members, two members of the management board are authorised to conclude all agreements acting jointly. 3. The signature of one member of the management board is required for the validity of other letters and documents. 4. The management board may grant powers of attorney to make declarations of will, dispose of financial resources and incur obligations, including financial obligations. 5. In the case of a management board consisting of two members, each member of the management board is authorised to grant powers of attorney on behalf of the foundation independently; in the case of a management board consisting of three members, two members of the management board are authorised to grant powers of attorney on behalf of the foundation acting jointly.