Brand Vaultsp. z o.o.

Manner of representation

Each member of the management board and each commercial proxy is authorised to represent the company independently in matters not exceeding ordinary management and with respect to the company's obligations with a value of up to PLN 1,000,000.00 (one million zloty). In matters exceeding ordinary management and with respect to the company's obligations with a value exceeding PLN 1,000,000.00 (one million zloty), the company is authorised to be represented in every case by the President of the Management Board independently, and additionally by: a. in the event of the appointment of two commercial proxies, irrespective of the number of members of the management board, two commercial proxies acting jointly; b. in the event of a one-person management board and the appointment of one commercial proxy, the commercial proxy jointly with the President of the Management Board; c. in the event of a multi-member management board, two members of the management board acting jointly or a member of the management board jointly with a commercial proxy.