Fundacja RetrospektywaFoundation

Manner of representation

1. The foundation’s management board may be a one-person management board or a multi-member management board, consisting of the President of the Management Board and, in the case of a multi-member management board, the remaining members. The founders determine the number of members of the management board depending on the needs and scope of the foundation’s activities. 2. All members of the management board are appointed and dismissed by the founders for a period of 2 years, with the possibility of re-election. 3. Powers of the management board 1. The management board manages the current activities of the foundation and represents it externally. 2. The President of the Management Board has the right to represent the foundation independently. 3. In the case of legal acts with a value exceeding PLN 10,000 (ten thousand zlotys), joint action of the President with another member of the management board is required. 7. 1. The management board adopts decisions in the form of resolutions, which are passed by a simple majority of votes. 2. In the case of a two-person management board, unanimous adoption of decisions is required in matters key to the foundation, such as: a) changes in the organisational structure; b) incurring financial liabilities above the set threshold of PLN 10,000 (ten thousand zlotys).