Purpose / Objective
The purpose of this matrix is to define who has the authority to originate and approve various expenditures (both inventory and non-inventory), enter Samsonite into legal agreements, set-up bank accounts, sign hedging agreements, etc.

Applies To
Samsonite Employees

Responsibility
Samsonite Employees – use the matrix as a guide for the order in which you obtain approvals

Policy
As part of our ongoing Sarbanes-Oxley compliance, we are a launching a U.S. authority matrix which becomes effective today. The purpose of this matrix is to define who has the authority to originate and approve various expenditures (both inventory and non-inventory), enter Samsonite into legal agreements, set-up bank accounts, sign hedging agreements, etc. The authorities outlined in the matrix have been approved by Marcello Bottoli and myself and are consistent with each individual’s job responsibilities and accountability.

When requesting approvals for commitments and transactions, I request that you use the authority matrix as a guide for the order in which you obtain approvals. Approvals should generally begin by starting with the person/title shown in the last row of the matrix and move upwards so that by the time the CEO, for example, receives a document for approval, all required approvals below the CEO have been obtained. Likewise, to the extent the Legal Department is involved in the approval process, please ensure that all operational approvals starting at the lowest level row of the matrix have been obtained prior to asking for Legal Department review. This will help ensure a more efficient process.