Acceptance of Appointment to Board of Directors by Alfred E. Abiouness Sr. for Cotton Bay Holdings, Inc.
Alfred E. Abiouness Sr. is formally invited to join the Board of Directors of Cotton Bay Holdings, Inc., a Delaware corporation. By signing this letter and the accompanying Advisory Board Consulting and Compensation Agreement, Mr. Abiouness agrees to fulfill his duties as a board member in accordance with applicable laws, SEC regulations, and the company's bylaws. The agreement confirms his acceptance of the appointment and outlines his advisory responsibilities to the company.
COTTON BAY HOLDINGS
August 1, 2012
Alfred E. Abiouness Sr.
8180 Shore Drive
Norfolk, VA, 23518
RE: ACCEPTANCE OF APPOINTMENT TO BOARD OF DIRECTORS
Dear Mr. Abiouness:
We are hereby inviting you to serve on the Board of Directors (the "Board") of Cotton Bay Holdings, Inc., a publicly reporting entity incorporated in Delaware ("Cotton Bay Holdings"). Your acceptance of this invitation will be confirmed through execution of this correspondence below, and your execution of the enclosed Advisory Board Consulting and Compensation Agreement dated August 1, 2012 (the "Advisor Agreement").
By executing this correspondence, and the Advisor Agreement, you are agreeing to comply with the duties of such an appointment under all applicable common laws, statutory laws, and rules and regulations of the United States Securities and Exchange Commission. Furthermore, you are agreeing to perform your advisory services consistent with the Bylaws of Cotton Bay Holdings.
I am looking forward to a productive and long-term relationship. Please feel free to contact our corporate counsel, Anthony R. Paesano at ***@*** or ###-###-#### with any questions.
Very truly yours,
/s/Alfred E. Abiouness, Jr.
Alfred E. Abiouness, Jr.
Chairman of the Board
Agreed:
/s/ Alfred E. Abiouness, Sr.
Alfred E. Abiouness, Sr.
cc: Anthony R. Paesano
Board of Directors
