Leopoldsp. z o.o.

Manner of representation

1. In the case of a one-person management board, the only member of the management board is authorised to submit declarations of will on behalf of the company. 2. In the case of a multi-member management board, each member of the management board is authorised to independently submit declarations of will on behalf of the company in respect of legal acts whose value does not exceed PLN 500,000.00 (five hundred thousand zlotys). 3. In the case of legal acts whose value exceeds PLN 500,000.00 (five hundred thousand zlotys), joint action by two members of the management board or by one member of the management board jointly with a commercial proxy is required to submit declarations of will on behalf of the company. 4. For the purposes of determining the manner of representation, the value of a legal act is determined according to the total value of the company's performances resulting from the given legal act, exclusive of goods and services tax: 1) in the case of contracts concluded for a fixed term, the value of the legal act is the total value of the company's performances for the entire term of the contract; 2) in the case of contracts concluded for an indefinite term or contracts for which it is not possible to determine the total value of the company's performances at the time of their conclusion, the value of the legal act is deemed to be the value of the company's performances for a period of 12 months; 3) legal acts economically or legally connected with one another, in particular those performed under the same framework agreement, with the same entity or for the purpose of implementing the same undertaking, are taken into account jointly when determining the value of the legal act if their division could lead to circumvention of the representation rules specified in the company's articles of association.