Fidia Systems S.P.A.Branch (foreign co.)

Manner of representation

The company is represented vis-à-vis third parties and before courts by the President of the Management Board and the managing directors, whereby each managing director acts independently in matters of the ordinary management of the company and its subsidiaries (including, among others, permits, patents, official, customs, tax and court matters), and jointly with another member of the management board or with the President in matters specified in the articles of association (including, among others, contracts for specific work, supply and provision of services, employment, banking operations up to EUR 5 million or EUR 10 million for transfers between group accounts, and tenders).