Business Development Milestone Agreement for Gregory Gum (March 2007 – March 2008)
This agreement outlines specific business development milestones for Gregory Gum between March 2007 and March 2008. Gregory is tasked with securing major contracts for ANDA products, including partnerships with Nortel, British Telecom, a wireless carrier, and three Tier 2 carriers. Each milestone achieved results in a cash payout, with amounts varying by milestone. If the first two milestones are not met, ANDA will reimburse up to $10,000 in out-of-pocket medical expenses. The agreement is approved by Charles Kenmore.
Exhibit 10.15
Final BD Milestones for-G.Gum
March 2007 – March 2008
Milestones:
| 1) | Execute Worldwide Reseller partnership with Nortel for ANDA products (demonstrable contract) |
| 2) | Formal designation by British Telecom, of a revenue contract exceeding $10M for ANDA products |
| 3) | Executed contract with a wireless carrier deal for backhaul applications with ANDA products (demonstrable contract with wireless carrier) |
| 4) | Execute 3 contracts with Tier 2 carriers, defined as the carriers listed in the Total Telecom 2006 top 25 Worldwide carriers for selection of ANDA products |
Payout:
Each milestone is based on value to the company as follows:
| 1) | $35K |
| 2) | $30K |
| 3) | $20K |
| 4) | $10K per 3 carriers signed |
B. Should Milestones #1 and #2 not be achieved, ANDA will reimburse up to $10K out-of-pocket medical expenditures
| Approved | ||
| /s/ Charles Kenmore | 4/25/07 | |
