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

¹ The term of of­fice of mem­bers of the board of dir­ect­ors of com­pan­ies whose shares are lis­ted on a stock ex­change shall end at the latest on con­clu­sion of the next or­din­ary gen­er­al meet­ing. Mem­bers are elec­ted in­di­vidu­ally.

² In the case of com­pan­ies whose shares are not lis­ted on a stock ex­change, the term of of­fice amounts to three years, un­less the art­icles of as­so­ci­ation provide oth­er­wise; however, the term of of­fice must not ex­ceed six years. Mem­bers are elec­ted in­di­vidu­ally, un­less the art­icles of as­so­ci­ation provide oth­er­wise or the per­son chair­ing the gen­er­al meet­ing is­sues a dif­fer­ent or­der with the con­sent of all the share­hold­ers rep­res­en­ted.

³ Re-elec­tion is pos­sible.