Consent of Stockholders in Lieu of Meeting for PyroTec, Inc. – May 29, 2012
This document records the majority stockholders of PyroTec, Inc. approving, without a formal meeting, the authorization for the Chairman to sign three licensing agreements with Resource Recycling Limited, Inc. It also waives and approves any conflicts of interest related to these agreements and ratifies all prior actions of the Board of Directors. The consent is dated May 29, 2012, and is signed by World Venture Group, Inc. as a shareholder.
Exhibit 10.10 - May 29, 2012 Consent of Stockholders in Lieu of Meeting
CONSENT OF STOCKHOLDERS IN LIEU OF MEETING
Pursuant to Article I, Section 1.11 of the Bylaws of PyroTec, Inc. (the "Corporation"), a Delaware corporation and successor in interest to Accelerated Acquisition XV, Inc., the shareholders constituting a majority of the issued and outstanding shares of common stock in the Corporation, hereby execute the following resolutions:
1. Jon Dyer, as Chairman of the Board for the Corporation, is hereby authorized to execute the following agreements with Resource Recycling Limited, Inc.: (a) Utilization Licensing Agreement dated May 29, 2012, (b) Operational Licensing Agreement dated May 29, 2012, and (c) Global Licensing, Operational and Utilization Agreement dated May 29, 2012.
2. Any and all actual or perceived conflicts of interest or related party transactions set forth in paragraph 1, above, are waived and approved, respectively, as being in the best interests of the Corporation.
3. Any and all prior actions of the Board of Directors are approved and ratified.
This consent is executed as of May 29, 2012.
RESOLVED:
/s/ D. Geno Brunton
World Venture Group, Inc.
Shareholder
Authorized Signator
