EXHIBIT
10.1

     

    LOAN AGREEMENT AND
PROMISSORY NOTE

     

    THIS LOAN
AGREEMENT AND PROMISSORY NOTE, dated as of December 31, 2008 (the “Note”), between YACHT FINDERS,
INC., a Nevada Corporation (the "Maker"), having an address at
122 Ocean Park Blvd., Suite 307, Santa Monica, CA 90405 and Fountainhead Capital
Management Limited (the "Payee"), having an address at
Portman House, Hue Street, St. Helier, Jersey JE4 5RP.  Each of the
Maker and the Payee are referred to herein as a “Party”, and collectively as
the “Parties.”

    


    WHEREAS,
on December 31, 2007, a shareholder payable was exchanged for a convertible
promissory note with a principal balance of $11,366 due and payable on December
31, 2008; on March 31, 2008, an additional shareholder payable was exchanged for
a convertible promissory note with a principal balance of $17,620 due and
payable on March 31, 2009; on June 30, 2008, an additional shareholder payable
was exchanged for a convertible promissory note with a principal balance of
$11,669 due and payable on June 30, 2009 and on September 30, 2008, an
additional shareholder payable was exchanged for a convertible promissory note
with a principal balance of $13,452 due and payable on September 30,
2009.   (the aforementioned notes are hereinafter collectively
referred to as the “Prior
Loans”)..

    


    WHEREAS,
during the period beginning on October 1, 2008 and ending on December 31, 2008
Payee advanced additional funds to the Maker in the total amount of $13,403 (the
“Additional Loan”) for its corporate
purposes, on the terms and conditions set forth therein;

    


    WEREAS,
the Payee may make additional advances to Maker from time to time in the future
(”Future Loans”)
and

    


    WHEREAS,
the Parties desire to evidence the amount due on account of the Prior Loans, the
Additional Loan and any Future Loans by this Loan Agreement and Promissory Note
(“Note”) which shall
accrue interest at a rate of 6% per annum.

    


    NOW
THEREFORE, in consideration of the premises, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:

    


    1. The
Maker, unconditionally promises to pay to the order of the Payee, the principal
sum of the Prior Loans, the Additional Loans and any Future Loans together with
accrued interest thereon from the date of issuance hereof. The Maker further
agrees to pay all costs of collection, including reasonable attorneys' fees,
incurred by the Payee or by any other holder of this Note in any action to
collect this Note, whether or not suit is brought.

    


    3. Principal
and accrued interest shall be payable on December 30, 2009. Maker shall have the
right at any time to prepay, in whole or in part, the principal and accrued
interest without penalty upon fifteen (15) days prior written notice to the
Payee.

    


    4. The
amounts due hereunder are payable without deduction or offset in lawful money of
the United States of America in immediately available funds to the Payee at its
address as set forth above, or at such other place as the holder of this Note
shall from time to time designate.

    


    5. It
shall be an event of default (“Event of Default”), and the
then unpaid portion of this Note shall become immediately due and payable, at
the election of Payee, upon the occurrence of any of the following
events:

     

    (a) any
failure on the part of Maker to make any payment hereunder when due, whether by
acceleration or otherwise;


    
      
         


      

      
         


        
          

        

      

      
         


      

    

    


    (b) Maker
shall commence (or take any action for the purpose of commencing) any proceeding
under any bankruptcy, reorganization, arrangement, readjustment of debt,
moratorium or similar law or statute; or

    


    (c) a
proceeding shall be commenced against Maker under any bankruptcy,
reorganization, arrangement, readjustment of debt, moratorium or similar law or
statute and relief is ordered against Maker, or the proceeding is controverted
but is not dismissed within sixty (60) days after the commencement
thereof.

     

    6. No
failure on the part of the Payee or any other holder of this Note to exercise
and no delay in exercising any right, remedy or power hereunder or under any
other document or agreement executed in connection herewith shall operate as a
waiver thereof, nor shall any single or partial exercise by the Payee or any
other holder of this Note of any right, remedy or power hereunder preclude any
other or future exercise of any other right, remedy or power.

    


    7. This
Note shall be binding upon the Maker and the Maker’s successors and
assigns.

    


    8. This
Note shall be governed by and construed in accordance with the laws of the State
of New York, excluding the conflicts of laws principles thereof.

    


    9. In
the event that any one or more of the provisions of this Note shall for any
reason be held to be invalid, illegal or unenforceable, in whole or in part, or
in any respect, or in the event that any one or more of the provisions of this
Note shall operate, or would prospectively operate, to invalidate this Note,
then, and in any such event, such provision or provisions only shall be deemed
null and void and of no force or effect and shall not affect any other provision
of this Note, and the remaining provisions of this Note shall remain operative
and in full force and effect, shall be valid, legal and enforceable, and shall
in no way be affected, prejudiced or disturbed thereby.

    


    10. All
agreements between Maker and Payee are hereby expressly limited so that in no
event whatsoever, whether by reason of deferment in accordance with this Note or
under any agreement or by virtue of acceleration or maturity of the Note, or
otherwise, shall the amount paid or agreed to be paid to the Payee hereunder or
to compensate Payee for damages to be suffered by reason of a late payment
hereof, exceed the maximum permissible under applicable law. If enforcement of
any provision hereof at the time performance of such provision shall be due,
shall exceed the limit of validity prescribed by law, the relevant obligations
to be fulfilled shall be deemed reduced to the limit of such validity. This
provision shall never be superseded or waived and shall control every other
provision of all agreements among Maker and Payee.

    


    11. Subject
to applicable federal and state securities laws, the Payee may assign this Note
without first obtaining the consent of the Maker.

    


    12. Subject
to the applicable cure periods contained herein, time is of the essence of this
Note.

    


    13. EXCEPT
AS OTHERWISE SPECIFICALLY PROVIDED HEREIN, THE MAKER, AND ALL OTHERS THAT MAY
BECOME LIABLE FOR ALL OR ANY PART OF THE OBLIGATIONS EVIDENCED BY THIS NOTE,
HEREBY WAIVES PRESENTMENT, DEMAND, NOTICE OF NONPAYMENT, PROTEST AND ALL OTHER
DEMANDS AND NOTICES IN CONNECTION WITH THE DELIVERY, ACCEPTANCE, PERFORMANCE OR
ENFORCEMENT OF THIS NOTE, AND DOES HEREBY CONSENT TO ANY NUMBER OF RENEWALS OR
EXTENSIONS OF THE TIME OF PAYMENT HEREOF AND AGREE THAT ANY SUCH RENEWALS OR
EXTENSIONS MAY BE MADE WITHOUT NOTICE TO ANY SUCH PERSONS AND WITHOUT AFFECTING
THEIR LIABILITY HEREIN AND DO FURTHER CONSENT TO THE RELEASE OF ANY PERSON
LIABLE WITH RESPECT TO FAILURE TO GIVE SUCH NOTICE, (ALL WITHOUT AFFECTING THE
LIABILITY OF THE OTHER PERSONS, FIRMS, OR CORPORATIONS LIABLE FOR THE PAYMENT OF
THIS NOTE).

     

    
      
         


      

      
         


        
          

        

      

      
         


      

    


    14. TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE MAKER HEREBY KNOWINGLY AND
VOLUNTARILY WAIVES TRIAL BY JURY AND THE RIGHT THERETO IN ANY ACTION OR
PROCEEDING OF ANY KIND ARISING UNDER OR OUT OF OR OTHERWISE RELATED TO OR
CONNECTED WITH THIS NOTE OR ANY RELATED DOCUMENT.

     

    IN
WITNESS WHEREOF, each of the undersigned has duly executed this Loan Agreement
and Convertible Promissory Note on the date first above written.

    


    
      
        
          	 
      	
                  YACHT
      FINDERS, INC.

                
	 
      	 
      	 
      
	 
      	
                  By:  

                	
                  /s/
      Thomas W. Colligan

                
	 
      	
                  Thomas
      W. Colligan

                
	 
      	
                  President