Venomous Artsp. z o.o.

Manner of representation

In the case of a one-person management board, declarations of will on behalf of the company are made by the member of the management board independently. In the case of a management board consisting of two or more persons, for making declarations of will on behalf of the company: a) each member of the management board is entitled to act independently if the net value of the agreement/obligation does not exceed PLN 10,000.00; b) at least two members of the management board or a member of the management board jointly with a commercial proxy are entitled to act if the net value of the agreement/obligation exceeds PLN 10,000.00, whereby in the case of continuing agreements concluded for an indefinite period, the above value is treated as the sum of the annual charges arising from such agreement, and in the case of continuing agreements concluded for a definite period, as the value of all charges arising from such agreement throughout its term.