Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

¹ The di­vidend may be de­term­ined only after the al­loc­a­tions to re­serves re­quired by the law and the art­icles of as­so­ci­ation have been de­duc­ted.

² The gen­er­al meet­ing may re­solve on the form­a­tion of re­serves which are not provided for by law or the art­icles of as­so­ci­ation or which go bey­ond the re­quire­ments there­of, provided that

1.

this is ne­ces­sary for re­place­ment pur­poses;

2.

with a view to the long-term prosper­ity of the com­pany or the de­sirab­il­ity of a stable di­vidend, such re­serves are jus­ti­fied and in the best in­terests of the share­hold­ers.

³ Sim­il­arly, the gen­er­al meet­ing may re­solve on the al­loc­a­tion of dis­pos­able profit to form re­serves for the found­a­tion and fund­ing of wel­fare schemes for the com­pany’s em­ploy­ees or for oth­er wel­fare pur­poses even where such re­serves are not provided for in the art­icles of as­so­ci­ation.