Article 62. Effect of resolutions and decisions of the Board of Members

1. Unless otherwise prescribed by the company’s charter, a resolution or decision of the Board of Members shall take effect from the day on which it is ratified on one the effective date specified therein.

2. A resolution or decision that is ratified with 100% of total charter capital shall be lawful and effective even if the procedures for ratification of such resolution or decision are not followed.

3. In case a member or group of members requests the court or an arbitral tribunal to invalidate a ratified resolution or decision, it will remain effective as prescribed in Clause 1 of this Article until the court or an arbitral tribunal issues a decision to invalidate it, except for the cases in which temporary emergency measures have to be implemented under decision of a competent authority.

Article 63. The Director/General Director

1. The Director/General Director is the person who manages the company’s everyday busines operation and is responsible to the Board of Members for his/her performance.

2. The Director/General Director has the following rights and obligations:

a) Organize the implementation of resolutions and decisions of the Board of Members;

b) Decide everyday operating issues of the company;

c) Organize implementation of the company’s busines plans and investment plans;

d) Issue the company’s rules and regulations unless otherwise prescribed by the company’s charter;

dd) Designate, dismiss the company’s executives, except those within jurisdiction of the Board of Members;

e) Enter into contracts on behalf of the company, except those within jurisdiction of the President of the Board of Members;

g) Propose the company’s organizational structure;

g) Submit annual financial statements to the Board of Members;

i) Propose plans for use and distribution of profits or settlement of business losses;

k) Recruit employees;

l) Other rights and obligations specified in the company’s charter, resolution and decisions of the Board of Members, and his/her employment contract.