Fundacja Gruszka Lab.Foundation

Manner of representation

1. In the case of a one-person management board, the President of the Management Board is authorised to make declarations of will concerning the foundation’s property rights and obligations and to sign agreements and obligations on its behalf. 2. In the case of a multi-member management board, joint action by two members of the management board, including the President of the Management Board, is required to make declarations of will concerning the foundation’s property rights and obligations and to sign agreements and obligations on its behalf; however: a) in matters concerning the foundation’s property rights and obligations and the signing of agreements and obligations on its behalf up to PLN 11,000 (in words: eleven thousand zlotys 00/100), each member of the management board is authorised to represent the foundation independently; b) in matters concerning declarations of will regarding the foundation’s property rights and obligations and the signing of agreements and obligations on its behalf that exceed ordinary management, joint action by three members of the management board, including the President or Vice-President, is required. 3. The validity of other letters and documents requires the signature of one member of the management board.