Hertz Kompressoren Polandsp. z o.o.

Manner of representation

1. If the management board is a one-person management board, the sole member of the management board is authorised to represent the company independently. 2. If the management board is a multi-member management board, each member of the management board is authorised to represent the company independently, except for acts resulting in the disposal of a right or the incurring of an obligation with a value exceeding EUR 100,000.00 (in words: one hundred thousand 00/100), converted according to the average exchange rate announced by the National Bank of Poland on the last business day preceding the date of the act, for which the joint action of two members of the management board is required. In the case of obligations of a periodic or continuous nature, for the purpose of determining the value of the act, the sum of the performances for the entire duration of the obligatory relationship is assumed, and where the duration of the obligatory relationship is indefinite, the sum of the performances for 1 (in words: one) year.