Fundacja R&U Football ProjectFoundation

Manner of representation

1. In the case of a one-person management board, the President of the Management Board represents the foundation independently in all matters, including non-property-related, property-related and financial matters, regardless of the value of the legal transaction or obligation. 2. In the case of a multi-member management board, in non-financial and non-property-related matters, each member of the management board may make declarations of will on behalf of the foundation independently. 3. In the case of a multi-member management board, in financial and property-related matters, if the value of the legal transaction or obligation does not exceed PLN 5,000 (in words: ten thousand zlotys), each member of the management board may make declarations of will on behalf of the foundation independently. 4. In the case of a multi-member management board, in financial and property-related matters, if the value of the legal transaction or obligation exceeds PLN 5,000 (in words: ten thousand zlotys), the joint action of two members of the management board acting jointly is required. 5. When determining the value of the transaction referred to in paragraphs 3 and 4, the total value of the foundation’s obligation arising from the given legal transaction or agreement, and not the value of an individual payment, instalment or tranche, shall be taken into account. 6. The management board may grant powers of attorney to perform specified legal transactions. The granting of a power of attorney takes place in accordance with the representation rules set out in this paragraph.