Conditional Officer and Director Resignation Agreement – Accelerated Acquisitions XI, Inc. and Timothy Neher
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Summary
Timothy Neher, an officer and director of Accelerated Acquisitions XI, Inc., agrees to resign from his positions as President, Secretary, and Treasurer. This resignation is conditional upon the sale of 22,350,000 shares of the company's common stock to Daniel Correa, PhD, and the appointment of Dr. Correa as a director and officer. The resignation becomes effective on the closing date of the transaction outlined in the Subscription Agreements between the company and Dr. Correa.
EX-10.3 4 aaxi8kex103_372011.htm aaxi8kex103_372011.htm
EXHIBIT 10.3
RESIGNATION
To the Board of Directors of
Accelerated Acquisitions XI, Inc.,
a Delaware corporation
The undersigned, being an officer and director of the above-named corporation, does hereby resign from President, Secretary, Treasurer, and such resignation shall be effective immediately.
Said resignation is contingent and expressly conditioned upon (a) the sale of 22,350,000 shares of the Company’s common shares to Daniel Correa, PhD. and (b) the appointment of Daniel Correa, PhD. as a director and officer of the corporation.
Said resignation shall be effective on the date of the Closing of the transaction contemplated by the Subscription Agreements between the Company and Daniel Correa PhD.
Dated as of March 7, 2011
| /s/ Timothy Neher | |
| Timothy Neher |
