Stock Option Agreement for Consultant Stephanie Schissler (2006) – Cord Partners
This agreement outlines the terms under which Stephanie Schissler, acting as a consultant for Cord Partners, may earn up to 125,000 stock options in 2006. The options are awarded for meeting specific business targets, such as expanding the sales team, enrolling new customers, completing marketing campaigns, and transitioning management duties. The options vest over one year, are capped per target, and have a strike price set at the end of 2006. Final approval is subject to the Board of Directors, company solvency, and compliance with the Code of Ethics.
Exhibit 10.59
Schedule A
Stock Options 2006
Stephanie Schissler - Consultant
Stock Options –
Consultant will receive stock options for achieving these 2006 targets:
1.
Grow Cord Partners’ 1099 group to 100 field reps by end of 2006 (25,000 cap)
2.
50 options per new Cord Partners customer enrollment in calendar year 2006 (50,000 cap)
3.
Completing all marketing campaigns by deadline to include (15,000 cap)
a.
Print Campaigns
b.
Postcard campaigns
4.
Successful transition of day-to-day management of preservation counselors, lead follow-up, and customer service to Consumer Sales Manager. (35,000 cap)
Rules:
1.
Plan caps at 125,000 options to be issued.
2.
Options will have a 1 year vesting schedule
3.
Strike price will be the closing price for Dec 31, 2006
4.
Company must not be insolvent.
5.
Consultant must have not violated Code of Ethics during this time period.
6.
Even if all other criteria are met, Board of Directors has ultimate final approval on the issuance.
7.
If the consultant accomplishes the above targets by December 31, 2006, then the consultant will be awarded with stock options for the value of their goal on December 31, 2006.
________________________
____________________________
Matthew Schissler, CEO
Stephanie Schissler, Consultant
________________________
Sandra Smith, CFO
9000 W. Sunset Boulevard, Suite 400
Los Angeles, CA 90069
Ph: 310 ###-###-####; Fax: 310 ###-###-####
