Mandate Agreement For

The mandate contract and the individual employment contract (ILC) are regulated differently from a legal point of view, so ilc is governed by the Labour Act, while the mandate contract is governed by Law 31/1990 on commercial enterprises. For a mandated person, a mandate contract has advantages, because he can act as he deems necessary to fulfill his mandate, unlike a worker who always works under the control of the employer and according to his instructions. At the same time, the conclusion of a mandate contract entails disadvantages from the point of view of the mandate, in particular due to the fact that the mandated person does not benefit from the labour law protections offered to workers by labour law (e.g. B the protection of dismissal offered to workers in certain situations expressly defined by law, b. the granting of a minimum number of rest days, the maximum number of hours worked being fixed). (Monte Titoli) Monte Titoli has agreed to provide the issuer with certain deposit and management services relating to covered bonds. In addition, the mandate contract has the advantage of not subjecting the company to the necessary formalities in the context of an individual employment contract (which must include certain minimum legal requirements). The company has the possibility to include in the mandate contract certain clauses that are not allowed in an individual employment contract, such as for example. B less than 20 working days` notice at the end of the contract or payment of quarterly remuneration, not monthly. It is possible to revoke the mandate contract without the need to justify the decision to withdraw and to comply with it without prior procedure. .

. .