International Food Services Wrocławsp. 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 disposing of a right or incurring an obligation with a value exceeding EUR 25,000, calculated according to the average exchange rate announced by the NBP on the day preceding the day of performing the act, for which joint action of two members of the management board or one member of the management board jointly with a commercial proxy is required (in the case of joint commercial proxy, with one of the joint commercial proxies). In the case of periodic or continuing obligations, for the purpose of determining the value of the act, the sum of the performances for the entire duration of the obligation relationship shall be taken into account, and if the duration of the obligation relationship is indefinite, the sum of the performances for one year.