Statutes of the Broken Music Feedback Endowment Fund
(Deed of endowmentfund within the meaning of Section 394 et seq. of the Civil Code)
Article 1
Founder, Name and Registered Office
1. Founder: Petr Studený, born on 16 April 1965, residing and domiciled at Přemyslovská 1919/41, 130 00 Prague 3, Žižkov.
2. The name of the endowment fund is Broken Music Feedback Endowment Fund (hereinafter referred to as the ‘endowment fund’).
3. Registered office of the endowment fund: Ječná 516/28, 120 00 Prague 2.
Article 2
Purpose of the Endowment Fund
The endowment fund is established for the following purposes:
a) to support the acquisition and publication of music recordings on physical and digital media,
b) to support the organisation of concerts and exhibitions of modern art,
c) to establish, manage and expand the collection of modern visual art and lend it for exhibitions.
Article 3
Funding and Management
1. The financial resources of the endowment fund consist in particular of:
a) the founder’s contribution,
b) the income from the assets of the endowment fund,
c) donations and contributions of individuals and legal entities,
d) income from special-purpose events and public collections,
e) income from its own activities,
f) income from participation in other persons’ enterprises.
2. The endowment fund’s resources shall be used to fulfil the purpose set out in Article 2.
3. Funding may not be granted to members of the Board of Trustees, the auditor or their close persons.
Article 4
Contribution Administrator and Conditions for Granting Contributions
1. Petr Studený shall be the contribution administrator until the endowment fund is established.
2. The Board of Trustees shall approve each contribution by means of a written resolution containing the following:
a) identification of the recipient,
b) intended use,
c) amount or contribution in kind and due date.
Article 5
Founder’s contribution
1, The founder’s contribution is CZK 100,000 (in words: one hundred thousand Czech crowns).
2. The endowment fund does not create endowment assets or endowment capital (Section 398(3) of the Civil Code).
Article 6
Board of Trustees
1. The Board of Trustees is the supreme body of the endowment fund; it consists of three members.
2. The term of office of the members is five years.
3. First members of the Board of Trustees:
· Pavel Horčička, born on 7 February 1967, residing and domiciled at Kolodějská 24, 250 84 Sibřina,
· Michal Musil, born on 21 June 1966, residing and domiciled at Zvonková 17/2645, Prague 10 – Záběhlice, 106 00,
· Petr Studený, born on 16 April 1965, residing and domiciled at Přemyslovská 1919/41, 130 00 Prague 3.
4. The Chairman of the Board of Trustees is Petr Studený.
5. The vacant position of a member of the Board of Trustees will be filled by election at the next meeting of the Board of Trustees.
6. The membership expires at the end of the term of office, upon resignation, death or dismissal.
7. The Board of Trustees has especially the following powers:
a) approval of the annual report and the budget,
b) decision-making on the adoption and amendments to the Articles of Association,
c) approval of credits and loans exceeding CZK 50,000 (in words: fifty thousand Czech crowns),
d) decision-making on the dissolution of the endowment fund,
e) elects and dismisses the members of the of Trustees and the Chairman of the of Trustees.
8. The Board of Trustees constitutes a quorum, if the absolute majority of its members is present; it decides by an absolute majority of the present members.
9. In case of a tie, the Chairperson shall have the casting vote.
10. The Board of Trustees shall meet at least once a year; The meetings are convened by the Chairperson.
Article 7
Auditor
1. The endowment fund has an auditor as its supervisory body.
2. The first auditor is Miroslav Beinhauer, born on 5 February 1993, residing and domiciled at Příčná 303, 747 41 Branka u Opavy.
3. The auditor:
a) monitors the management and compliance with the Statutes,
b) reports to the Board of Trustees at least once a year,
c) is entitled to request the necessary information from the Board of Trustees and to inspect documents of the Endowment Fund.
4. The auditor is elected and removed by the Board of Trustees; his term of office is five years.
Article 8
Acting on Behalf of the Endowment Fund
1. The Chairperson of the Board of Trustees acts and signs on behalf of the endowment fund solely.
2. The remaining members of the Board of Trustees act jointly.
3. The Chairperson informs the other members of the Board of Trustees and the auditor about any legal action taken on behalf of the endowment fund.
Article 9
Duration
The endowment fund is established for an indefinite period.
Article 10
Dissolution and Termination of the Endowment Fund
1. The endowment fund is dissolved on the date specified in the decision of the Board of Trustees.
2. After the dissolution of the endowment fund, its liquidation shall be carried out; the liquidator shall be appointed by the Board of Trustees.
3. After all claims have been settled, the liquidation balance shall be made available to a legal entity determined by the Board of Trustees whose activities are consistent with the purpose of the endowment fund.
Article 11
Final Provisions
The founder declares that he establishes the endowment fund in accordance with the Civil Code and with other applicable legal regulations.
In Prague on 24 October 2025
Petr Studený