Conditional Officer and Director Resignation Agreement – Timothy Neher and Accelerated Acquisitions XII, Inc.
Contract Categories:
Human Resources
›
Separation Agreements
Summary
Timothy Neher, an officer and director of Accelerated Acquisitions XII, Inc., agrees to resign from all positions with the company. This resignation is conditional upon the sale of 22,350,000 shares of the company's common stock to SSM Media Ventures, Inc. and the appointment of new directors and officers. The resignation will become effective on the closing date of the transaction outlined in the Subscription Agreements between the company and SSM Media Ventures, Inc.
EX-10.3 4 aaxii8kex103_7182011.htm aaxii8kex103_7182011.htm
EXHIBIT 10.3
RESIGNATION
To the Board of Directors of
Accelerated Acquisitions XII, Inc.,
a Delaware corporation
The undersigned, being an officer and director of the above-named corporation, does hereby resign from all positions as such officer and director of the corporation.
Said resignation is contingent and expressly conditioned upon (a) the sale of 22,350,000 shares of the Company’s common shares to SSM Media Ventures, Inc. and (b) the appointment of successor directors and officers 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 SSM Media Ventures, Inc.
Dated as of July 16, 2011
/S/ Timothy Neher
Timothy Neher
