The Company’s legal representation system is structured so as to ensure to highest
degree of flexibility and proper control over corporate resolutions and activities.
To this end, the Company legal representation is expressed by appending, beneath
the Company’s name, the joint signatures of the Chairman, the Vice Chairman of the Board of Directors, the Managing Director, the General Managers or the Deputy General Managers appointed by the Head Office. The abovementioned representative may also act
jointly with another member of the Board of Directors, the General Manager or
the Deputy General Managers appointed to the Head Office for Italy, or one of
the Company’s other managers.
In this latter case, such managers represent the Company also for those activities
which are outside their responsibility. If the legal representation is expressed
jointly by two of these managers, at least one of them must act in his area of
responsibility.
Under a resolution of the Board, Managing Directors, with a resolution deed,
registered at the Company Register Office of Trieste, determine the representation
powers of the Company’s managers lower than Central Managers, defining their area
of responsibility.
The area of responsibility of each manager matches the area of the relevant Deputy General Manager or Central
Manager, whom - either directly or indirectly – such manager is accountable to;
if no such profile exists, responsibility is linked to the higher ranking manager
accounting to the General Manager or the competent Director.
The competent administration body may confer the representation powers to other
employees or to third parties by issuing special or general powers of attorney for single deeds or for categories of deeds. If representation powers are assigned
to Company’s officers on a steady basis, they represent the Company in their area
of responsibility only by signing jointly with another manager of the same area.
| 
