EX-10.16 9 cirtransb2a2ex10-16.txt ================================================================================ [PORTIONS OF THIS EXHIBIT HAVE BEEN REDACTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.] APPENDIX A-5 PRODUCTS Product Name: HOT DOG EXPRESS, Part # RG-99 Product Description: Kitchen Appliance that mainly cooks Hot Dogs Projected Units Sold next 24 months: XXXXXX Manufacturer: CirTran-Asia Sub-Manufacturer: Jion Loen Enterprise Co., Ltd. Civil Industries Ltd. Zhejiang Hengtai Machinery Manufacturing Co., Ltd. Marketing Partner Contact Info: EMSON PRODUCTS, INC. Current Sale Price: $XXXXXX USD - CIRTRAN-ASIA Current Cost to Manufacturer: $XXXXXX USD Total Tooling/Development Costs: $100,000 USD Gross Profit Margin Per Unit - $XXXXX CirTran-Asia $ 0.65 USD Charles Ho $ 1.85 USD Hot Dog Express Stock Option Schedule Upon full execution of this Agreement, Cirtran's parent CirTran Corporation will issue the following options to purchase restricted common stock: Charles Ho 700,000 shares Michael Casey 300,000 shares These initial options will vest and be exercisable only after Cirtran has sold 300,000 HOT DOG EXPRESS units. The options will be exercisable at $.06 per share after vesting. The options will expire and will no longer be exercisable on the date one year after the date hereof. In addition, for each whole multiple of 100,000 HOT DOG units sold by Cirtran during the first 24 months of this Agreement in excess of the initial 300,000 units, CirTran Corporation will grant each Charles Ho and Michael Casey an option to purchase 100,000 shares. Each such additional option will be exercisable for a period of 12 months at an exercise price equal to the fair market value of CirTran Corporation stock on the date of grant (i.e. the mean between the high bid and low asked prices for the stock for the date of determination). As a condition to grant of the options, each option holder will be required to make standard investment representations to CirTran Corporation. [XXXXX - REDACTED PURSUANT TO REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.] --------------------------------------------------------------------------------