Lumipalosp. z o.o.

Manner of representation

1. In the case of a one-person management board, the sole member of the management board represents the company independently. 2. In the case of a multi-member management board: (A) each member of the management board may represent the company independently with regard to acts, including contracts, whose value does not exceed PLN 30,000.00 (in words: thirty thousand PLN 00/100), and when opening, amending and terminating contracts for operating the company's bank account and other contracts of a similar nature; (B) the company is represented by two members of the management board acting jointly or by one member of the management board acting jointly with a commercial proxy with regard to acts, including contracts, whose value exceeds PLN 30,000.00 (in words: thirty thousand PLN 00/100); (C) where an act provides for recurring performances, its value is the sum of the performances for one year, and if the performances last less than one year – for the entire period of their duration.