Appendix no. 1

Internal division of duties and responsibilities

The scope of tasks included in the President's of the Management Board powers, for which he shall be responsible, involve organization and management of the Company within all its areas excluding tasks vested to other members of the Management Board, and they shall be the following:

  1. managing the production, inspecting the product quality, technology, purchases and customer service,
  2. managing the staff,
  3. ensuring profits for the Company,
  4. ensuring organizational frame and technological level that shall guarantee the Company high position on the market.


When performing those tasks, the President of the Management Board shall be obliged to in particular:

plan, organize and manage the employees activities in order to ensure the expected product quality, turnover, profit and production increase,
responsible for the Company market development,
responsible for relations with customers, employees and integrity of the enterprise and the product,
provide for circulation and exchange of information within the Company,
stimulate an atmosphere that shall be motivating to work and cooperate,
create and develop short and long-term targets for operational employees,
prepare proposals for hr and pay changes,
delegate responsibilities for performance of individual tasks to relevant employees, coordinate and assess their work,
manage the employees' trainings.

The scope of tasks included in the vice-President's of the Management Board (CFO) powers, for which he shall be responsible, involve the Company financial policy and managing its finances including:

  1. creating current and long-term financial strategy of the Company,
  2. providing information regarding the current financial standing of the Company,
  3. preparing solutions ensuring the optimal profitability of the Company,
  4. supervising and coordinating the budget preparation and its implementation,
  5. controlling the Company financial liquidity,
  6. controlling the operating costs of all departments of the enterprise (credits, receivables, liquidity, etc) and ensuring cost optimization of the Company operations,
  7. assessing the financial risk of investment projects, transactions, deposits, etc,
  8. recommending investment projects and subsequently controlling the rate of return on invested capital,
  9. coordinating and supervising the accountancy system and financial reporting,
  10. ensuring compliance of the Company with the requirements specified in regulations regarding accountancy and regulatory liabilities.


While performing those tasks, the vice-President of the Management Board (CFO) shall be obliged to in particular

contact and exchange documents with tax, fiscal audit, customs and statistical authorities,
supervise the preparation of the Company financial statement,
supervise the system of collection and circulation of financial data within the company,
supervise and provide for contacts with external financial institutions,
negotiate terms and conditions for deposits and credits,
approve payments,
supervise the work of financial an accounting departments,
supervise the Company financial activities - effecting payments, recovery of debts, creating deposits, etc.,
supervise internal inspections and settlements with the Company employees,
carry out research and analyze the Company financial standing and its general economic situation,
submit reports of budget implementation,
supervise the correctness of tax settlements, contributions for social insurance, administrative fees, penalties, fines, etc.,
identify the needs for employing external advisors and recommend their candidatures,
delegate responsibility for performance of individual tasks to relevant employees, coordinate and assess their work,
represent the Company outside if necessary.