Share Cancellation Agreement between Accelerated Venture Partners, LLC and Accelerated Acquisitions III, Inc.

Contract Categories: Business Finance › Release Agreements
Summary

Accelerated Venture Partners, LLC agrees to cancel 3,750,000 of its 5,000,000 shares of common stock in Accelerated Acquisitions III, Inc., reducing its holdings to 1,250,000 shares. This agreement is formalized through a letter dated December 29, 2009, and outlines the reduction of shares held by Accelerated Venture Partners, LLC. The main obligation is the surrender and cancellation of the specified shares, with no additional conditions or time limits stated.

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EX-10.3 4 v170285_ex10-3.htm
EXHIBIT 10.3
 
Acclerated Venture Partners, LLC

1840 Gateway Drive, Suite 200
Foster City, CA 94404

December 29, 2009

Accelerated Acquisitions III, Inc.
122 Ocean Park Blvd.
Suite 307
Santa Monica, CA 90405

Re:           Tender of shares for cancellation

Gentlemen:

By this letter, the undersigned tenders for cancellation 3,750,000 of the 5,000,000 shares of common stock par value $0.0001 of Accelerated Acquisitions, II, Inc. (the “Company”) which it holds.  Following the cancellation of such shares, Accelerated Venture Partners, LLC will hold a total of 1,250,000 of the Company’s Common Shares.

Sincerely,

ACCELERATED VENTURE PARTNERS, LLC

By:
/s/ Timothy Neher
 
Timothy Neher, Managing Member