AmaniFoundation

Manner of representation

Making declarations of will: a) Each member of the management board is authorised to make declarations of will independently on behalf of the foundation exclusively within a scope that does not involve expenditures. This applies in particular to: I) submitting offers, II) accepting donations, III) representing the foundation in external contacts, IV) undertaking other legal acts that do not result in financial obligations. b) All legal acts involving expenditures of the foundation are subject to the principles set out in point 6. 6: Principles of decision-making and representation of the foundation in financial matters involving expenditures: a) Monthly decision-making limits: I) The President of the Management Board is authorised to make financial decisions and conclude agreements on behalf of the foundation independently; however, the total value of such decisions in a given month may not exceed an amount equivalent to one average remuneration in the national economy (the national average), according to Statistics Poland data for the quarter preceding the making of such declaration of will; II) The President of the Management Board acting jointly with one member of the management board is authorised to make financial decisions and conclude agreements on behalf of the foundation up to a total amount equivalent to twice the average remuneration in the national economy, according to Statistics Poland data for the quarter preceding the making of such declaration of will; III) If the total value of the foundation’s financial obligations incurred in a given month exceeds an amount equal to twice the average remuneration in the national economy, according to Statistics Poland data for the quarter preceding the making of the declaration of will, the decision must be adopted in the form of a resolution of the management board, which simultaneously identifies the person authorised to make the declaration of will on behalf of the foundation, adopted by a simple majority of votes in the presence of at least half of all members of the management board.