Conditional Officer Resignation Agreement between Timothy Neher and Accelerated Acquisitions X, Inc.
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Summary
Timothy Neher, an officer and director of Accelerated Acquisitions X, Inc., agrees to resign from his roles as President, Secretary, and Treasurer, but will remain a director. This resignation is conditional upon the sale of 22,350,000 shares of the company's common stock to Virolab S de RL de CV and the appointment of Ricardo Rosales, PhD, as a director and officer. The resignation becomes effective on the closing date of the share sale transaction as outlined in the related Subscription Agreements.
EX-10.3 4 aax8kex103_2282011.htm EXHIBIT 10.3 aax8kex103_2282011.htm
EXHIBIT 10.3
RESIGNATION
To the Board of Directors of
Accelerated Acquisitions X, Inc.,
a Delaware corporation
The undersigned, being an officer and director of the above-named corporation, does hereby resign from President, Secretary, Treasurer, and shall remain a 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 Virolab S de RL de CV and (b) the appointment of Ricardo Rosales, 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 Virolab S de RL de CV.
Dated as of February 27, 2011
| By: | /s/ Timothy Neher |
| Timothy Neher, Managing Member |
