Document:

Consulting Agreement, dated August 31, 2003

 Exhibit 10.15 
  
 TURNSTONE SYSTEMS, INC. 
  
 Consulting Agreement 
  
 This Consulting Agreement (the “Agreement”) is made as of August 31, 2003 by and between Turnstone Systems, Inc., a Delaware corporation having
its principal place of business at 2220 Central Expressway, Santa Clara California 95050 (the “Company”), and Richard N. Tinsley (the “Consultant”). 
  
 Recitals 
  
 1. The Company desires to retain the Consultant as an independent contractor to perform consulting services for the Company. 
  
 2. The Consultant is willing to perform such services for the Company on the
terms and subject to the conditions set forth in this Agreement. 
  
 NOW, THEREFORE, in consideration of the mutual promises set forth herein, the Company and the Consultant hereby agree as follows: 
  
 1. Function. The Consultant will assist, consult, and advise the Company in respect of such tasks, projects, and responsibilities as shall
be requested by the Company’s Board of Directors and/or its officers, as set forth on Exhibit A attached hereto. 
  
 2. Compensation. As consideration for such assistance, consultation, and advice, the Company will pay the Consultant the compensation set
forth on Exhibit A attached hereto. In addition, the Company will reimburse the Consultant for reasonable out-of-pocket expenses incurred by Consultant in the execution of Consultant’s duties as set forth in Section 1 above, as set forth
on Exhibit A attached hereto, provided that the Consultant shall provide the Company documentation for such expenses in accordance with the Company’s established policies for expense reimbursement, and the Consultant shall have otherwise
complied with all such policies. 
  
 3. Term. Either
Consultant or Company may terminate this Agreement at any time for any reason or no reason, with or without cause, by written notice. Termination shall not relieve the Consultant of Consultant’s continuing obligations under this Agreement,
including, without limitation, the requirements of Sections 4, 5, 6, or 7. 
  
 4. Confidentiality. 
  
 (a) “Confidential Information” means any Company proprietary information, technical data, trade secrets or know-how, including, but not limited to, research, product plans, products, services, suppliers, supplier lists, customers,
customer lists, markets, software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration information, marketing, finances, or other business information disclosed by the Company, either
directly or indirectly, in writing, orally, or by drawings or inspection of parts or equipment. Confidential Information shall not include information which (i) is known to the Consultant at the time of disclosure to the Consultant by the Company as
evidenced by the written records of the Consultant, (ii) has become publicly known and made generally available through 
  

 no wrongful act of the Consultant, or (iii) has been rightfully received by the Consultant from a third party who is
authorized to make such disclosure. 
  
 (b) The Consultant will
not, during the term of this Agreement and thereafter, use the Company’s Confidential Information for any purpose whatsoever other than the performance of services on behalf of the Company pursuant to Section 1 and will not disclose the
Company’s Confidential Information to any third party, and it is understood that said Confidential Information shall remain the sole property of the Company. Consultant further agrees to take all necessary precautions to prevent any
unauthorized disclosure of Confidential Information including, but not limited to, having each employee of Consultant, if any, with access to any Confidential Information, execute an agreement containing terms relating to Confidential Information
and ownership of intellectual property substantially similar to those set forth in this Agreement. 
  
 (c) The Consultant agrees that Consultant will not, during the term of this Agreement, improperly use or disclose any proprietary information or trade
secrets of any third party with which has an agreement or duty to keep in confidence information acquired by Consultant in confidence, and that Consultant will not bring onto the premises of the Company any unpublished document or proprietary
information belonging to such third party unless consented to in writing by such third party. The Consultant will indemnify the Company and hold it harmless from and against all claims, liabilities, damages and expenses, including reasonable
attorneys’ fees and costs of suit, arising out of or in connection with any violation or claimed violation of a third party’s rights resulting in whole or in part from the Company’s use of the work product of the Consultant under this
Agreement. 
  
 (d) The Consultant recognizes that the Company has
received and in the future will receive from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited
purposes. The Consultant agrees that Consultant owes the Company and such third parties, during the term of this Agreement and thereafter, a duty to hold all such confidential or proprietary information in the strictest confidence and not to
disclose it to any person, firm or corporation or to use it except as necessary in carrying out services for the Company pursuant to Section 1 in a manner consistent with the Company’s agreement with such third party. 
  
 (e) Upon the termination of this Agreement, or at any time upon the
Company’s request, the Consultant will promptly deliver to the Company all of the Company’s property or Confidential Information in tangible form that Consultant may have in Consultant’s possession or control. 
  
 5. Ownership. 
  
 (a) The Consultant agrees that all copyrightable material, notes, records,
drawings, designs, inventions, improvements, developments, discoveries, and trade secrets (collectively, “Inventions”) conceived, made, or discovered by the Consultant, solely or in collaboration with others, during the term of this
Agreement which relate in any manner to the business of the Company that Consultant may be directed to undertake, investigate, or experiment with, in connection with the services to be performed by Consultant hereunder, are the sole property of the
Company. Consultant further agrees to assign (or cause to be assigned) and does hereby assign fully to the Company all such Inventions and any copyrightable patents, mask work rights, moral rights or other intellectual property rights relating
thereto. This Agreement does not apply to inventions covered by Section 2870 of the California Labor Code, a copy of which is attached hereto as Exhibit B, or to inventions which were made prior to the date of this Agreement. 
  
 (b) The Consultant agrees to assist the Company, or its designee, at the
Company’s expense, in every proper way to secure the Company’s rights in the Inventions and any copyrights, patents, mask work 
  

 rights, or other intellectual property rights relating thereto in any and all countries, including the disclosure to the
Company of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments, and all other instruments which the Company shall deem necessary or appropriate in order to apply for and
obtain such rights and in order to assign and convey to the Company, its successors, assigns, and nominees the sole and exclusive rights, title, and interest in and to such Inventions, and any copyrights, patents, mask work rights, or other
intellectual property rights relating thereto. The Consultant further agrees that Consultant’s obligation to execute or cause to be executed, when it is in Consultant’s power to do so, any such instrument or papers shall continue after the
termination of this Agreement. 
  
 6. Conflicting
Obligations. 
  
 (a) The Consultant certifies that
Consultant has no outstanding agreement or obligation that is in conflict with any of the provisions of this Agreement or that would preclude the Consultant from complying with the provisions hereof and further certifies that Consultant will not
enter into any such conflicting agreement during the time in which Consultant is acting as an independent contractor of the Company or thereafter. 
  
 (b) In view of the Consultant’s access to the Company’s trade secrets and proprietary know-how, Consultant further agrees that Consultant will
not, without the Company’s prior written consent, design identical or substantially similar designs as those developed for the Company or for any third party during the time in which Consultant is acting as an independent contractor of the
Company and for a period of twelve (12) months thereafter. 
  
 7.
Covenant Not to Compete; Non-Solicitation. During the term of this Agreement, the Consultant will not, directly or indirectly, participate as an officer, director, employee, partner, principal, consultant or otherwise with, any person,
business or enterprise which is engaged in actual or potential competition with the Company or its affiliates, without the express prior written consent of the Company. The Consultant covenants and agrees with the Company that Consultant will not,
during the term of this Agreement and for a period of one year thereafter, whether directly or indirectly, solicit any of the Company’s then-current employees to terminate their employment with the Company or to become employed by any other
firm, company, or business. 
  
 8. Independent
Contractor. The Consultant is an independent contractor and will not act as an agent nor shall Consultant be deemed an employee of the Company for the purposes of any employee benefit program, income tax withholding, FICA taxes, unemployment
benefits or otherwise. The Consultant may not enter into any agreement or incur any obligations on the Company’s behalf, or commit the Company in any manner, without the Company’s express prior written consent. 
  
 9. Notices. Any notice required or permitted by this Agreement
shall be deemed to have been given if delivered personally or sent by registered or certified mail, postage and charges prepaid, addressed to the party at the party’s address set forth on the signature page hereof. 
  
 10. Governing Law. This Agreement and the application or
interpretation thereof shall be governed, construed, and enforced in accordance with the laws of the State of California as applied to agreements between California residents entered and to be performed entirely within California. 
  
 11. Miscellaneous. 
  

 (a) This Agreement, including the exhibits attached hereto and made a part hereof, constitutes and
expresses the entire agreement and understanding between the Company and the Consultant relating to the subject matter herein. All previous discussions, promises, representations, and understandings between the parties relative to this Agreement, if
any, have been merged into this document. No modification of or amendment to this Agreement, nor any waiver of rights under this Agreement, will be effective unless expressed in a writing signed by the party to be charged. 
  
 (b) The Consultant may not subcontract all or any part of the services to be
provided hereunder without the express prior written consent of the Company. 
  
 (c) This Agreement shall be binding upon and shall inure to the benefit of the Company’s successors, transferees, and assigns. 
  
 (d) The Consultant agrees that a breach of any of the representations, warranties, or covenants contained in this Agreement
will result in irreparable and continuing damage to the Company for which there will be no adequate remedy at law and that, consequently, the Company will be entitled to injunctive relief and/or a decree for specific performance and such other
relief as may be proper (including monetary damages, if appropriate). 
  
 (e) The waiver by the Company of a breach of any provision of this Agreement will not operate or be construed as a waiver of any other or subsequent breach. 
  
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written. 
  

	 “COMPANY”
	 	 	 	 TURNSTONE SYSTEMS, INC.
 a Delaware corporation

					
	 	 	 	 	 	 	By:	 	 /s/    ALBERT
LIU        

	 	 	 	 	 	 	 Name:
	 	 Albert Liu

	 	 	 	 	 	 	 Title:
	 	 General Counsel & Director of HR

	 	 	 	 	 	 	 	 	 

	 “CONSULTANT”
	 	 	 	 /s/    RICHARD N.
TINSLEY        

	 	 	 	 	(signature)
					
	 	 	 	 	 	 	 Name:
	 	 Richard N. Tinsley

	 	 	 	 	 	 	 Title:
	 	 Consultant 

	 	 	 	 	 	 	 Address: 
	 	  

	 	 	 	 	 	 	  

	 	 	 	 	 	 	 Tax ID #:
	 	  

  

 Exhibit A 
  

CONSULTANT COMPENSATION 
  
 Description of Services: IP consulting services, as requested by Company management from time to time. 
  
 Consultant shall report to: Eric Yeaman, CEO and CFO 
  
 Fees: US$100.00 per hour 
  
 Expenses authorized for reimbursement by Company: Reasonable expenses associated with the provisioning of services hereunder to be mutually agreed upon between the
Company and Consultant. 
  

 Exhibit B 
  

Section 2870, California Labor Code 
  
 (a) Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in
an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except for those
inventions that either: 
  
 (1) Relate at the time of conception
or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer. 
  
 (2) Result from any work performed by the employee for the employer. 
  
 (b) To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from
being required to be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable.Monthly Payment Date Statement dated August 15, 2003

	

	THE BANK OF NEW YORK	  	 	  	 
	 101 Barclay Street, 8 West
	  	Distribution Date: 8/15/03
	 New York, NY 10286
	  	 
	 Officer: Trish O’Neill-Manella        212.815.3956
	  	 	  	 	  	 
	 Associate: Cirino
Emanuel               212.815.3087
	  	 	  	 	  	 

  

	  
 GreenPoint Mortgage Securities
Inc.
  

	 GreenPoint Home Equity Loan Trust 2003-1
  

	 Home Equity Loan Asset-Backed Notes
  

	Series 2003-1

  

	Certificateholder Monthly Distribution Summary
	 Class

	  	Cusip

	  	Class
Description

	  	Certificate
Rate Type

	  	Beginning
Balance

	  	Pass
Through
Rate (%)

	  	Principal
Distribution

	  	Interest
Distribution

	  	Total
Distribution

	  	Current
Realized
Losses

	  	Ending Balance

	  	Cumulative
Realized
Losses

	 A
	  	395385AP2	  	Senior	  	Var-Act/360	  	267,381,776.02	  	1.376880	  	13,230,199.53	  	317,020.31	  	3,547,219.84	  	—  	  	254,151,576.49	  	—  
	 R
	  	 	  	Senior	  	Fix-30/360	  	—  	  	0.000000	  	—  	  	—  	  	—  	  	—  	  	—  	  	—  
	 	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	

	 Totals
	  	 	  	 	  	 	  	267,381,776.02	  	 	  	13,230,199.53	  	317,020.31	  	13,547,219.84	  	—  	  	254,151,576.49	  	—  
	 	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	

  

	Principal Distribution Detail
	 Class

	  	Cusip

	  	Original
Certificate
Balance

	  	Beginning
Certificate
Balance

	  	Scheduled
Principal
Distribution

	  	Accretion
Principal

	  	Unscheduled
Principal
Adjustments

	  	Net Principal
Distribution

	  	Current
Realized
Losses

	  	Ending
Certificate
Balance

	  	Ending
Certificate Factor

	 A
	  	395385AP2	  	290,418,000.00	  	267,381,776.02	  	13,230,199.53	  	—  	  	—  	  	13,230,199.53	  	—  	  	254,151,576.49	  	0.87512336181
	 R
	  	 	  	—  	  	—  	  	—  	  	—  	  	—  	  	—  	  	—  	  	—  	  	0.00000000000
	 	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	

	 Totals
	  	 	  	290,418,000.00	  	267,381,776.02	  	13,230,199.53	  	—  	  	—  	  	13,230,199.53	  	—  	  	254,151,576.49	  	 
	 	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	

  

	Interest Distribution Detail
	 Class

	  	Beginning
Certificate
Balance

	  	Pass
Through
Rate (%)

	  	Accrued
Optimal
Interest

	  	Cumulative
Unpaid
Interest

	  	Deferred
Interest

	  	Total
Interest Due

	  	Net
Prepayment
Int
Shortfall

	  	Unscheduled
Interest
Adjustment

	  	Interest Paid

	 A
	  	267,381,776.02	  	1.376880	  	317,020.31	  	—  	  	—  	  	317,020.31	  	—  	  	—  	  	317,020.31
	 R
	  	—  	  	0.000000	  	—  	  	—  	  	—  	  	—  	  	—  	  	—  	  	—  
	 	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	

	 Totals
	  	267,381,776.02	  	 	  	317,020.31	  	—  	  	—  	  	317,020.31	  	—  	  	—  	  	317,020.31
	 	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	
	  	

 Current Payment Information 
 Factors per $1,000 
  

	 Class

	  	Cusip

	  	Original
Certificate
Balance

	  	 Beginning Cert.
Notional
 Balance

	  	Principal
Distribution

	  	Interest
Distribution

	  	 Ending Cert.
Notional
 Balance

	  	Pass
Through
Rate (%)

	 A
	  	395385AP2	  	290,418,000.00	  	920.679076421	  	45.555714616	  	1.091600078	  	875.123361805	  	1.376880
	 R
	  	 	  	—  	  	0.000000000	  	0.000000000	  	0.000000000	  	0.000000000	  	0.000000
	
	  	
	  	
	  	
	  	
	  	
	  	
	  	

	 Totals
	  	 	  	290,418,000.00	  	920.679076435	  	45.555714625	  	1.091600073	  	875.123361810	  	 
	
	  	
	  	
	  	
	  	
	  	
	  	
	  	

							
	Pool Level Data	  	 	  	 	  	 	  	 	  	 	  	 
	 Distribution Date
	  	 	  	 	  	 	  	 	  	 	  	8/15/2003
	 Cut-off Date
	  	 	  	 	  	 	  	 	  	 	  	5/1/2003
	 Determination Date
	  	 	  	 	  	 	  	 	  	 	  	8/1/2003
	 Accrual Period 30/360
	  	Begin	  	 	  	 	  	 	  	 	  	7/1/2003
	 	  	End	  	 	  	 	  	 	  	 	  	8/1/2003
	 Number of Days in 30/360 Accrual Period
	  	 	  	 	  	 	  	 	  	 	  	30
							
	 Accrual Period Actual Days
	  	Begin	  	 	  	 	  	 	  	 	  	7/15/2003
	 	  	End	  	 	  	 	  	 	  	 	  	8/15/2003
	 Number of Days in Actual Accrual Period
	  	 	  	 	  	 	  	 	  	 	  	31

  

	Collateral Information	 
		
	 Group 1
	  	 	 
	 Cut-Off Date Balance
	  	287,542,470.48	 
		
	 Beginning Aggregate Pool Stated Principal Balance
	  	267,060,807.64	 
	 Ending Aggregate Pool Stated Principal Balance
	  	254,929,274.35	 
		
	 Beginning Aggregate Certificate Stated Principal Balance
	  	267,381,776.02	 
	 Ending Aggregate Certificate Stated Principal Balance
	  	254,151,576.49	 
		
	 Beginning Aggregate Loan Count
	  	6368	 
	 Loans Paid Off or Otherwise Removed Pursuant to Pooling and Servicing Agreement
	  	307	 
	 Ending Aggregate Loan Count
	  	6061	 
		
	 Beginning Weighted Average Loan Rate (WAC)
	  	7.085946	%
	 Ending Weighted Average Loan Rate (WAC)
	  	7.068479	%

	 Beginning Net Weighted Average Loan Rate
	  	6.578946%
	 Ending Net Weighted Average Loan Rate
	  	6.561479%
	 Weighted Average Maturity (WAM) (Months)
	  	209
	 Aggregate Pool Prepayment
	  	9,544,478.83
	 Pool Prepayment Rate
	  	35.6653 CPR
	 Certificate Account
	  	 
	 Beginning Balance
	  	—  
	 Deposit
	  	 
	 Payments of Interest and Principal
	  	13,697,888.67
	 Liquidation Proceeds
	  	—  
	 All Other Proceeds
	  	—  
	 Other Amounts
	  	—  
	 Total Deposits
	  	13,697,888.67
	 Withdrawals
	  	 
	 Reimbursement of Servicer Advances
	  	—  
	 Payment of Master Servicer Fees
	  	111,275.34
	 Payment of Sub Servicer Fees
	  	—  
	 Payment of Other Fees
	  	—  
	 Payment of Insurance Premium(s)
	  	—  
	 Payment of Personal Mortgage Insurance
	  	—  
	 Other Permitted Withdrawal per the Pooling and Service Agreement
	  	39,393.49
	 Payment of Principal and Interest
	  	13,547,219.84
	 Total Withdrawals
	  	13,697,888.67
	 Ending Balance
	  	—  

  

	Delinquency Information	 
	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Group 1
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Delinquency
	  	30-59 Days	 	 	60-89 Days	 	 	90-179 Days	 	 	180-269 Days	 	 	270+ Days	 	 	Totals	 
	 Scheduled Principal Balance
	  	3,002,406.72	 	 	537,146.15	 	 	885,272.54	 	 	—  	 	 	—  	 	 	4,424,825.41	 
	 Percentage of Total Pool Balance
	  	1.177741	%	 	0.210704	%	 	0.347262	%	 	0.000000	%	 	0.000000	%	 	1.735707	%
	 Number of Loans
	  	75	 	 	12	 	 	14	 	 	0	 	 	0	 	 	101	 
	 Percentage of Total Loans
	  	1.237420	%	 	0.197987	%	 	0.230985	%	 	0.000000	%	 	0.000000	%	 	1.666392	%
	 Foreclosure
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Scheduled Principal Balance
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	41,452.31	 
	 Percentage of Total Pool Balance
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0.016260	%
	 Number of Loans
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	1	 
	 Percentage of Total Loans
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0.016499	%
	 Bankruptcy
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Scheduled Principal Balance
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	80,757.94	 
	 Percentage of Total Pool Balance
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0.031679	%
	 Number of Loans
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	4	 
	 Percentage of Total Loans
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0.065996	%
	 REO
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Scheduled Principal Balance
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	—  	 
	 Percentage of Total Pool Balance
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0.000000	%
	 Number of Loans
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0	 
	 Percentage of Total Loans
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0.000000	%
	 Book Value of all REO Loans
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	—  	 
	 Percentage of Total Pool Balance
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0.000000	%
	 Current Realized Losses
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	—  	 
	 Additional Gains (Recoveries)/Losses
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	—  	 
	 Total Realized Losses
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	—  	 

  

	Reserve Fund Information
	 	  	 
	 Demand Note Reserve Account
	  	 
	 Beginning Balance
	  	 
	 Deposits
	  	2,875,529.52
	 Accrued Interest
	  	—  
	 Withdrawals
	  	—  
	 Ending Balance
	  	—  
	 	  	2,875,529.52

  

	OVERCOLLATERALIZATION REPORTING
	 	  	 
	 Ending Overcollateralization Amount
	  	777,697.86
	 Specified Overcollateralization Amount
	  	7,188,561.76
	 Overcollateralization Reduction Amount
	  	—  
	 Excess Interest used as Accelerated Principal
	  	1,098,666.24

  

	\ADDITIONAL REPORTING ITEMS	 
	 	  	 	 
	 Cumulative losses as percentage of originial Pool Balance
	  	0.00000000	%
	 Cumulative losses as percentage of current Pool Balance
	  	0.00000000	%
	 12-month rolling average of cumulative losses as percentage of original Pool Balance
	  	0.00000000	%
	 3-month rolling average of Mortgage Loans 60+ days delinquent
	  	0.00454193	 
	 Relief Act Shortfall
	  	—  	 
	 Gross Prepayment Interest Shortfall
	  	—  	 
	 Net Prepayment Interest Shortfall
	  	—  	 
	 Total outstanding principal balance of 3 largest Mortgage Loans
	  	1,218,799.44	 
	 Draw Amount
	  	3,823,195.45

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