Document:

OPTION AGREEMENT

OPTION AGREEMENT

----------------

THIS AGREEMENT made as of the 15th day of January, 2007

 

BETWEEN:

SCOTT C. HOUGHTON, of Box 73575, 1014 Robson Street

Vancouver, BC V6E 4L9

(the "Optionor")

OF THE FIRST PART

AND:

BIG BEAR RESOURCES INC., of 804 - 1238 Melville Street, Vancouver, BC
      V6E 4N2

    
  

(the "Optionee")

OF THE SECOND PART

 

WHEREAS:

A. The Optionor is the owner of certain mineral claims

located in the Slocan Mining Division of British Columbia;

B. The Optionor has agreed to grant an exclusive option to

the Optionee to acquire an interest in and to the Property, on the

terms and conditions hereinafter set forth;

 

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the

sum of $1.00 now paid by the Optionee to the Optionor (the receipt

of which is hereby acknowledged), the parties agree as follows:

 

DEFINITIONS

- -----------

1. For the purposes of this Agreement the following words

and phrases shall have the following meanings, namely:

(a) "Exploration Expenditures" means the sum of:

<PAGE>

(i) all costs of acquisition and maintenance of the

Property, all expenditures on the exploration and

development of the Property, and all other costs

and expenses of whatsoever kind or nature,

including those of a capital nature, incurred or

chargeable by the Optionee with respect to the

exploration of the Property, and

(ii) as compensation for general overhead expenses

which the Optionee may incur, an amount equal to

10% of all amounts included in subparagraph (i)

in each year but only 5% of such amounts when

paid by the Optionee under any contract involving

payments by it in excess of $100,000 in one year;

(b) "Option" means the option to acquire a 100% undivided

interest in and to the Property as provided in this

Agreement;

(c) "Option Period" means the period from the date of this

Agreement to and including the date of exercise or

termination of the Option;

(d) "Property" means the mineral claims described in Schedule

"A" hereto including any replacement or successor claims,

and all mining leases and other mining interests derived

from any such claims. Any reference herein to any

mineral claim comprising the Property includes any

mineral leases or other interests into which such mineral

claim may have been converted;

(e) "Property Rights" means all licenses, permits, easements,

rights-of-way, certificates and other approvals obtained

by either of the parties either before or after the date

of this Agreement and necessary for the exploration of

the Property;

 

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR

- ---------------------------------------------------------

2. (a) The Optionor represents and warrants to and covenants

with the Optionee that:

(i) it is legally entitled to hold the Property and

the Property Rights and will remain so entitled

until the interest of the Optionor in the

Property which is subject to the Option has been

duly transferred to the Optionee as contemplated

hereby;

(ii) it is, and at the time of each transfer to the

Optionee of an interest in the mineral claims

comprising the Property pursuant to the exercise

of the Option it will be, the recorded holder and

beneficial owner of all of the mineral claims

comprising the Property free and clear of all

liens, charges and claims of others, except as

noted on Schedule "A", and no taxes or rentals

are or will be due in respect of any of the

mineral claims;

<PAGE>

2

(iii) the mineral claims comprising the Property have

been duly and validly located and recorded

pursuant to the laws of the jurisdiction in which

the Property is situate and are in good standing

with respect to all filings, fees, taxes,

assessments, work commitments or other conditions

on the date hereof and until the dates set

opposite the respective names thereof in Schedule

"A";

(iv) there are not any adverse claims or challenges

against or to the ownership of or title to any of

the mineral claims comprising the Property, nor

to the knowledge of the Optionor is there any

basis therefor, and there are no outstanding

agreements or options to acquire or purchase the

Property or any portion thereof, and no person

other than the Optionor, pursuant to the

provisions hereof,] has any royalty or other

interest whatsoever in production from any of the

mineral claims comprising the Property other than

as set out in Schedule "A";

(v) no proceedings are pending for, and the Optionor

is unaware of any basis for the institution of

any proceedings leading to the placing of the

Optionor in bankruptcy or subject to any other

laws governing the affairs of insolvent persons;

(b) The representations and warranties contained in this

section are provided for the exclusive benefit of the

Optionee, and a breach of any one or more thereof may be

waived by the Optionee in whole or in part at any time

without prejudice to its rights in respect of any other

breach of the same or any other representation or

warranty, and the representations and warranties

contained in this section shall survive the execution of

this Agreement and of any transfers, assignments, deeds

or further documents respecting the Property.

 

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONEE

- ---------------------------------------------------------

3. (a) The Optionee represents and warrants to and covenants

with the Optionor that:

(i) it has been duly incorporated, amalgamated or

continued and validly exists as a corporation in

good standing under the laws of its jurisdiction

of incorporation, amalgamation or continuation;

(ii) it will on exercise of the Option be lawfully

authorized to hold mineral claims and real

property under the laws of the jurisdiction in

which the Property is situate;

(iii) it has duly obtained all corporate authorizations

for the execution of this Agreement and for the

performance of this Agreement by it, and the

 

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3

consummation of the transactions herein

contemplated will not conflict with or result in

any breach of any covenants or agreements

contained in, or constitute a default under, or

result in the creation of any encumbrance under

the provisions of the Articles or the constating

documents of the Optionee or any shareholders' or

directors' resolution, indenture, agreement or

other instrument whatsoever to which the Optionee

is a party or by which it is bound or to which it

or the Property may be subject;

(iv) no proceedings are pending for, and the Optionee

is unaware of any basis for the institution of

any proceedings leading to, the dissolution or

winding up of the Optionee or the placing of the

Optionee in bankruptcy or subject to any other

laws governing the affairs of insolvent

corporations;

(b) The representations and warranties contained in this

section are provided for the exclusive benefit of the

Optionor and a breach of any one or more thereof may be

waived by the Optionor in whole or in part at any time

without prejudice to its rights in respect of any other

breach of the same or any other representation or

warranty, and the representations and warranties

contained in this section shall survive the execution

hereof.

 

GRANT AND EXERCISE OF OPTION

- ----------------------------

4. (a) The Optionor hereby grants to the Optionee the sole and

exclusive right and option to acquire a 100% undivided

interest in and to the Property free and clear of all

charges, encumbrances and claims.

(b) The Option shall be exercised by the Optionee:

(i) paying the Optionor $5,000 US on the execution of

this Agreement, the receipt of which is hereby

waived by the Optionor;

(ii) paying the Optionor up to $70,000 US as follows:

(A) $10,000 US on or before June 30, 2008.

(B) an additional $10,000 US on or before

December 31, 2008; and

(C) an additional $50,000 US on or before

December 31, 2008.

(iii) incurring Exploration Expenditures of up to

$32,000 US on the Property as follows:

 

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4

(A) $2,000 US on or before December 31, 2007;

(B) a further $10,000 US on or before June 30,

2008; and

(C) a further $20,000 US on or before December

31, 2008.

In the event that the Optionee spends, in any of the

above periods, less than the specified sum, it may pay to

the Optionor the difference between the amount it

actually spent and the specified sum before the expiry of

that period in full satisfaction of the Exploration

Expenditures to be incurred. In the event that the

Optionee spends, in any period, more than the specified

sum, the excess shall be carried forward and applied to

the Exploration Expenditures to be incurred in succeeding

periods.

(c) If and when the Option has been exercised, a 100%

undivided right, title and interest in and to the

Property shall vest in the Optionee free and clear of all

charges, encumbrances and claims.

TRANSFER OF PROPERTY

- --------------------

5. The Optionor shall, forthwith after the exercise of the

Option by the Optionee, deliver to the Optionee duly executed

transfers of the appropriate interest in the Property which shall

have been acquired by the Optionee upon exercise of the Option.

 

RIGHT OF ENTRY

- --------------

6. Throughout the Option Period the directors and officers

of the Optionee and its servants, agents and independent

contractors, shall have the sole and exclusive right in respect of

the Property to:

(a) enter thereon;

(b) have exclusive and quiet possession thereof;

(c) do such prospecting, exploration, development and other

mining work thereon and thereunder as the Optionee in its

sole discretion may determine advisable;

(d) bring upon and erect upon the Property such buildings,

plant, machinery and equipment as the Optionee may deem

advisable; and

(e) remove therefrom and dispose of reasonable quantities of

ores, minerals and metals for the purposes of obtaining

assays or making other tests.

<PAGE>

5

OBLIGATIONS OF THE OPTIONEE DURING OPTION PERIOD

- ------------------------------------------------

7. During the Option Period the Optionee shall:

(a) maintain in good standing those mineral claims comprising

the Property by the doing and filing of assessment work

or the making of payments in lieu thereof, by the payment

of taxes and rentals, and the performance of all other

actions which may be necessary in that regard and in

order to keep such mineral claims free and clear of all

liens and other charges arising from the Optionee's

activities thereon except those at the time contested in

good faith by the Optionee;

(b) permit the directors, officers, employees and designated

consultants of the Optionor, at their own risk and

expense, access to the Property at all reasonable times,

and the Optionor agrees to indemnify the Optionee against

and to save it harmless from all costs, claims,

liabilities and expenses that the Optionee may incur or

suffer as a result of any injury (including injury

causing death) to any director, officer, employee or

designated consultant of the Optionor while on the

Property;

(c) do all work on the Property in a good and workmanlike

fashion and in accordance with all applicable laws,

regulations, orders and ordinances of any governmental

authority;

(d) indemnify and save the Optionor harmless in respect of

any and all costs, claims, liabilities and expenses

arising out of the Optionee's activities on the Property,

but the Optionee shall incur no obligation hereunder in

respect of claims arising or damages suffered after

termination of the Option if upon termination of the

Option any workings on or improvements to the Property

made by the Optionee are left in a safe condition;

(e) permit the Optionor, at its own expense, reasonable

access to the results of the work done on the Property

during the last completed calendar year;

(f) deliver to the Optionor, forthwith upon receipt thereof,

copies of all reports, maps, assay results and other

technical data compiled by or prepared at the direction

of the Optionee with respect to the Property.

 

TERMINATION OF OPTION BY OPTIONEE

- ---------------------------------

8. (a) The Option shall terminate:

(i) upon the Optionee failing to incur or make any

expenditure or payment which must be incurred or

made in exercise of the Option; or

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6

(ii) at any other time, by the Optionee giving notice

of such termination to the Optionor.

(b) If the Option is terminated the Optionee shall:

(i) leave in good standing for a period of at least

12 months from the termination of the Option

Period those mineral claims comprising the

Property;

(ii) deliver or make available at no cost to the

Optionor within 90 days of such termination, all

drill core, copies of all reports, maps, assay

results and other relevant technical data

compiled by, prepared at the direction of, or in

the possession of the Optionee with respect to

the Property and not theretofore furnished to the

Optionor.

(c) Notwithstanding the termination of the Option, the

Optionee shall have the right, within a period of 180

days following the end of the Option Period, to remove

from the Property all buildings, plant, equipment,

machinery, tools, appliances and supplies which have been

brought upon the Property by or on behalf of the

Optionee, and any such property not removed within such

180 day period shall thereafter become the property of

the Optionor.

 

TRANSFERS

- ---------

9. (a) The Optionee may at any time either during the Option

Period or thereafter, sell, transfer or otherwise dispose

of all or any portion of its interest in and to the

Property and this Agreement provided that any purchaser,

grantee or transferee of any such interest shall have

first delivered to the Optionor its agreement relating to

this Agreement and to the Property, containing:

(i) a covenant to perform all the obligations of the

Optionee to be performed under this Agreement in

respect of the interest to be acquired by it from

the Optionee to the same extent as if this

Agreement had been originally executed by such

purchaser, grantee or transferee; and

(ii) a provision subjecting any further sale, transfer

or other disposition of such interest in the

Property and this Agreement or any portion

thereof to the restrictions contained in this

paragraph (a).

(b) No assignment by the Optionee of any interest less than

its entire interest in this Agreement and in the Property

shall, as between the Optionee and the Optionor,

discharge it from any of its obligations hereunder, but

upon the transfer by the Optionee of the entire interest

at the time held by it in this Agreement, whether to one

<PAGE>

7

or more transferees and whether in one or in a number of

successive transfers, the Optionee shall be deemed to be

discharged from all obligations hereunder save and except

for the fulfilment of contractual commitments accrued due

prior to the date on which the Optionee shall have no

further interest in this Agreement.

(c) If the Optionor should receive a bona fide offer from an

independent third party (the "Proposed Purchaser")

dealing at arm's length with the Optionor to purchase all

or a part of its interest in the Property, which offer

the Optionor desires to accept, or if the Optionor

intends to sell all or a part of its interest in the

Property:

(i) The Optionor shall first offer (the "Offer") such

interest in writing to the Optionee upon terms no

less favourable than those offered by the

Proposed Purchaser or intended to be offered by

the Optionor, as the case may be.

(ii) The Offer shall specify the price, terms and

conditions of such sale, the name of the Proposed

Purchaser and shall, in the case of an intended

offer by the Optionor, disclose the person or

persons to whom the Optionor intends to offer its

interest and, if the offer received by the

Optionor from the Proposed Purchaser provides for

any consideration payable to the Optionor

otherwise than in cash, the Offer shall include

the Optionor's good faith estimate of the cash

equivalent of the non-cash consideration.

(iii) If within a period of 60 days of the receipt of

the Offer the Optionee notifies the Optionor in

writing that it will accept the Offer, the

Optionor shall be bound to sell such interest to

the Optionee on the terms and conditions of the

Offer. If the Offer so accepted by the Optionee

contains the Optionor's good faith estimate of

the cash equivalent of the non cash consideration

as aforesaid, and if the Optionee disagrees with

the Optionor's best estimate, the Optionee shall

so notify the Optionor at the time of acceptance

and the Optionee shall, in such notice, specify

what it considers, in good faith, the fair cash

equivalent to be and the resulting total purchase

price. If the Optionee so notifies the Optionor,

the acceptance by the Optionee shall be effective

and binding upon the Optionor and the Optionee,

and the cash equivalent of any such non-cash

consideration shall be determined by binding

arbitration and shall be payable by the Optionee,

subject to prepayment as hereinafter provided,

within 60 days following its determination by

arbitration. The Optionee shall in such case pay

to the Optionor, against receipt of an absolute

transfer of clear and unencumbered title to the

interest of the Optionor being sold, the total

purchase price which is specified in its notice

to the Optionor and such amount shall be credited

to the amount determined following arbitration of

the cash equivalent of any non-cash

consideration.

<PAGE>

8

 

(iv) If the Optionee fails to notify the Optionor

before the expiration of the time limited

therefor that it will purchase the interest

offered, the Optionor may sell and transfer such

interest to the Proposed Purchaser at the price

and on the terms and conditions specified in the

Offer for a period of 60 days, but the terms of

this paragraph shall again apply to such interest

if the sale to the Proposed Purchaser is not

completed within such 60 days.

(v) Any sale hereunder shall be conditional upon the

Proposed Purchaser delivering a written

undertaking to the Optionee, in form and

substance satisfactory to its counsel, to be

bound by the terms and conditions of this

Agreement.

 

SURRENDER OF PROPERTY INTERESTS

PRIOR TO TERMINATION OF AGREEMENT

- ---------------------------------

10. The Optionee may at any time during the Option Period elect

to abandon any one or more of the mineral claims comprised in

the Property by giving notice to the Optionor of such intention.

Any claims so abandoned shall be in good standing under the laws of

the jurisdiction in which they are situate for at least 12 months

from the date of abandonment. Upon any such abandonment, the

mineral claims so abandoned shall for all purposes of this

Agreement cease to form part of the Property and, if title to such

claims has been transferred to the Optionee the Optionee shall

retransfer such title to the Optionor at the Optionee's expense.

 

FORCE MAJEURE

- -------------

11. (a) If the Optionee is at any time either during the Option

Period or thereafter prevented or delayed in complying

with any provisions of this Agreement by reason of

strikes, lock-outs, labour shortages, power shortages,

fuel shortages, fires, wars, acts of God, governmental

regulations restricting normal operations, shipping

delays or any other reason or reasons, other than lack of

funds, beyond the control of the Optionee, the time

limited for the performance by the Optionee of its

obligations hereunder shall be extended by a period of

time equal in length to the period of each such

prevention or delay, but nothing herein shall discharge

the Optionee from its obligations hereunder to maintain

the Property in good standing;

(b) The Optionee shall give prompt notice to the Optionor of

each event of force majeure and upon cessation of such

event shall furnish to the Optionor with notice to that

effect together with particulars of the number of days by

which the obligations of the Optionee hereunder have been

extended by virtue of such event of force majeure and all

preceding events of force majeure.

<PAGE>

9

CONFIDENTIAL INFORMATION

- ------------------------

12. No information furnished by the Optionee to the Optionor

hereunder in respect of the activities carried out on the Property

by the Optionee shall be published or disclosed by the Optionor

without the prior written consent of the Optionee, but such consent

in respect of the reporting of factual data shall not be

unreasonably withheld, and shall not be withheld in respect of

information required to be publicly disclosed pursuant to

applicable securities or corporation laws, regulations or policies.

 

ARBITRATION

- -----------

13. (a) All questions or matters in dispute under this Agreement

shall be submitted to arbitration pursuant to the terms

hereof.

(b) It shall be a condition precedent to the right of any

party to submit any matter to arbitration pursuant to the

provisions hereof, that any party intending to refer any

matter to arbitration shall have given not less than 10

days' prior notice of its intention to do so to the other

party, together with particulars of the matter in

dispute. On the expiration of such 10 days, the party

who gave such notice may proceed to refer the dispute to

arbitration as provided in paragraph (c).

(c) The party desiring arbitration shall appoint one

arbitrator, and shall notify the other party of such

appointment, and the other party shall, within 15 days

after receiving such notice, either consent to the

appointment of such arbitrator which shall then carry out

the arbitration or appoint an arbitrator, and the two

arbitrators so named, before proceeding to act, shall,

within 30 days of the appointment of the last appointed

arbitrator, unanimously agree on the appointment of a

third arbitrator to act with them and be chairman of the

arbitration herein provided for. If the other party

shall fail to appoint an arbitrator within 15 days after

receiving notice of the appointment of the first

arbitrator, the first arbitrator shall be the only

arbitrator. If the two arbitrators appointed by the

parties shall be unable to agree on the appointment of

the chairman, the chairman shall be appointed under the

provisions of the Commercial Arbitration Act of British

Columbia. Except as specifically otherwise provided in

this section, the arbitration herein provided for shall

be conducted in accordance with such Act. The chairman,

or in the case where only one arbitrator is appointed,

the single arbitrator, shall fix a time and place in

Vancouver, British Columbia, for the purpose of hearing

the evidence and representations of the parties, and he

shall preside over the arbitration and determine all

questions of procedure not provided for under such Act or

this section. After hearing any evidence and

representations that the parties may submit, the single

arbitrator, or the arbitrators, as the case may be, shall

make an award and reduce the same to writing, and deliver

one copy thereof to each of the parties. The expense of

the arbitration shall be paid as specified in the award.

<PAGE>

10

(d) The parties agree that the award of a majority of the

arbitrators, or in the case of a single arbitrator, of

such arbitrator, shall be final and binding upon each of

them.

 

DEFAULT

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14. If at any time during the Option Period the Optionee is

in default of any provision in this Agreement (other than the

provisions of subparagraph 4(b) for which no notice of default need

be given), the Optionor may terminate this Agreement, but only if:

(a) it shall have first given to the Optionee a notice of

default containing particulars of the obligation which

the Optionee has not performed, or the warranty breached;

and

(b) the Optionee has not, within 45 days following delivery

of such notice of default, cured such default or

commenced proceedings to cure such default by appropriate

payment or performance, the Optionee hereby agreeing that

should it so commence to cure any default it will

prosecute the same to completion without undue delay.

Should the Optionee fail to comply with the provision of

subparagraph (b), the Optionor may thereafter terminate this

Agreement by giving notice thereof to the Optionee.

 

NOTICES

- -------

15. Each notice, demand or other communication required or

permitted to be given under this Agreement shall be in writing and

shall be delivered, telegraphed or telecopied to such party at the

address for such party specified above. The date of receipt of

such notice, demand or other communication shall be the date of

delivery thereof if delivered or telegraphed or, if given by

telecopier, shall be deemed conclusively to be the next business

day. Either party may at any time and from time to time notify the

other party in writing of a change of address and the new address

to which notice shall be given to it thereafter until further

change.

 

GENERAL

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16. (a) This Agreement shall supersede and replace any other

agreement or arrangement, whether oral or written,

heretofore existing between the parties in respect of the

subject matter of this Agreement.

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11

(b) No consent or waiver expressed or implied by either party

in respect of any breach or default by the other in the

performance by such other of its obligations hereunder

shall be deemed or construed to be a consent to or a

waiver of any other breach or default.

(c) The parties shall promptly execute or cause to be

executed all documents, deeds, conveyances and other

instruments of further assurance and do such further and

other acts which may be reasonably necessary or advisable

to carry out fully the intent of this Agreement or to

record wherever appropriate the respective interest from

time to time of the parties in the Property.

(d) This Agreement shall enure to the benefit of and be

binding upon the parties and their respective successors

and permitted assigns.

(e) This Agreement shall be governed by and construed in

accordance with the laws of British Columbia and shall be

subject to the approval of all securities regulatory

authorities having jurisdiction.

(f) Time shall be of the essence in this Agreement.

(g) Wherever the neuter and singular is used in this

Agreement it shall be deemed to include the plural,

masculine and feminine, as the case may be.

 

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12

(h) Any reference in this Agreement to currency shall be

deemed to be United States currency.

IN WITNESS WHEREOF the parties hereto have executed this Agreement

as of the day and year first above written.

 

THE COMMON SEAL OF )

BIG BEAR RESOURCES INC. )

was hereunto affixed in the )

presence of: )

)

) c/s

)

Authorized Signatory )

)

)

) 

)

Signatory ) Signature /s/ Korina L. Houghton

 

 

 

SIGNED, SEALED AND DELIVERED )

BY SCOTT C. HOUGHTON )

in the presence of: )

)

)

)

)

)

Signature ) Signature /s/ Scott C. Houghton

)

)

Name ) Witness /s/ Benny Mumford

)

Address 3475 Windermere Street )

Vancouver, B.C. )Filed by Automated Filing Services Inc. (604) 609-0244 - FitMedia Inc.- Exhibit 10.1

August 7, 2007
Board of Directors
FitMedia
Inc.
7108–150A Street
Surrey, British Columbia, Canada V3S 2E2

Gentlemen:

     This letter of intent
(hereinafter referred to as this “LOI”) summarizes our discussions and
reflects our mutual intent to pursue a share exchange between FitMedia Inc., a
Delaware corporation (“FitMedia” or “FTME”), whose common stock is quoted on the
OTCBB under the symbol “FTME,” and the following entities:

(a) Biomedic Holding Ltd., a British Virgin Islands
corporation and the 100% owner of the share capital of Fortune Win
Development Group Ltd., a British Virgin Islands corporation;

(b) Prohl Inc., a British Virgin Islands corporation and
the 100% owner of the share capital of Success Earn Holdings Limited, a
British Virgin Islands corporation (Biomedic Holding Ltd. and Prohl Inc.
together being referred to herein as the “Shareholders”); 

(c) Fortune Win Development Group, Ltd. which owns 77%
of the share capital of Biomedic (HK) Ltd. and Success Earn Holdings
Limited which owns 23% of the share capital of Biomedic (HK) Ltd.,
the latter being a corporation organized and existing under the laws of the Hong
Kong SAR of the People’s Republic of China; 

(d) Biomedic (HK) Limited owns 100% of the share
capital of Biomedic (Shang Hai) Ltd.

(“Biomedic Shanghai”), a corporation organized under the laws
of the People’s Republic of China and a wholly owned foreign enterprise (a
“WOFE”) pursuant to the foreign investment laws of the People’s Republic of
China;

(e) Timothy Crottey, President of FitMedia.

The terms and conditions of the share exchange and ancillary
transactions are to proceed as set forth below.

                 The
date and time at which the transactions between FitMedia and Biomedic Holdings
Ltd. and Prohl Inc. (the “Shareholders”) will be effectuated is referred
to as the “Closing.” The parties contemplate that the Closing will occur
by September 15, 2007.

1.              Stock
Purchase Agreement. Prior to the Closing, the Shareholders or their
designees and Timothy Crottey (the “FitMedia Shareholder”) will enter
into a stock purchase agreement (the “Stock Purchase Agreement”). The
Stock Purchase Agreement will provide for the sale by the FitMedia Shareholder
to the Shareholders (or their designees) of 18,600,000 restricted common shares
of FTME (the “Affiliate Shares”). The purchase price for the Affiliate Shares,
to be delivered at the Closing, will be Five Hundred Fifteen Thousand and no/100
Dollars ($515,000) in cash.

2.              Share
Exchange. Upon the satisfaction of all conditions precedent to the Closing,
the following exchanges will take place pursuant to the Share Exchange
Agreement:

	 	a. 	
      The Shareholders will transfer to FTME all of the
      outstanding share capital of Fortune Win Development Group Ltd. and
      Success Earn Holdings Limited.

FitMedia Inc.
August 7, 2007
Page 2

	 	b. 	
      FTME will issue to the Shareholders Fifty Million
      (50,000,000) shares of FTME common stock.

                  It
is the intent of the parties that, after FTME satisfies the aforesaid covenant
and the transfer contemplated by the Stock Purchase Agreement and the Share
Exchange Agreement, the Shareholders (or their designees) will hold 68,600,000
of FTME common stock, representing 93.0% of the outstanding capital stock of
FTME.

                  Definitive
Share Exchange Agreements. FTME and the Shareholders shall proceed to
negotiate a definitive share exchange agreement (hereinafter referred to as the
“Share Exchange Agreement”), to be drafted by the Shareholders’ counsel,
which will contain terms consistent with this LOI and such other terms and
conditions as are appropriate under the circumstances. In that regard, the Share
Exchange Agreement will prescribe the structure for the Share Exchange whereby
the receipt of stock from FTME by the Shareholders will be tax-free under
Section 368 of the Internal Revenue Code. 

3.             
Closing Conditions. FTME’s and the Shareholders’ respective obligations
to complete the Share Exchange shall be subject to the satisfaction of usual and
customary conditions (any of which is susceptible to waiver by the party
affected detrimentally), which shall include, without limitation, the
following:

(a)              FTME
and the Shareholders shall have executed a mutually satisfactory Share Exchange
Agreement consistent with the terms of the transactions set forth in this
LOI;

(b)              Each
of FTME and the Shareholders shall have been satisfied, within seven days after
the date of this LOI (hereinafter referred to as “Due Diligence
Deadline”), with the results of its review and investigation of the other
and the other’s business (as contemplated by Paragraph 5 below);

(c)              As
of the Closing, there shall not be pending any litigation to which FTME, any of
the FitMedia Shareholders, Biomedic Shanghai or any of the Shareholders is a
party and which is reasonably likely to have a material adverse effect on the
businesses of FTME or Biomedic Shanghai, as applicable, or the proposed Share
Exchange;

(d)              As
of the Closing, FTME shall have no liabilities;

(e)              As
of the Closing, the total outstanding capital stock of FTME shall consist of
73,832,064 shares of common stock, and there shall be no options, warrants,
employee compensation or other rights to issue common stock or preferred stock
issued or outstanding.

(f)              As
of the Closing, the common stock of FTME shall be listed for quotation on the
OTCBB;

FitMedia Inc.
August 7, 2007
Page 3

(g)              FTME
shall have filed with the SEC and mailed to its shareholders of record ten days
prior to Closing an information statement pursuant to SEC Rule 14f-1, and ten
days shall have passed since the date on which it was mailed to the shareholders
of record.

(h)             
Prior to Closing, Biomedic Shanghai shall have delivered to FTME the financial
statements, with a report of Biomedic Shanghai’s independent registered public
accountant, and other information required for inclusion in the Current Report
that FTME will file with the Securities and Exchange Commission within four
business days after the Closing;

(i)             
At or prior to the Closing the Board of Directors of FTME shall have elected to
the Board such persons as the Biomedic Shanghai shall designate, and at the
Closing the prior members of the Board shall resign from the Board.

(j)              At
the Closing, the FitMedia Shareholders and the Shareholders shall complete the
transactions contemplated in the Stock Purchase Agreement; 

(k)              There
shall not be any change in, or effect on, either of FTME’s or Biomedic
Shanghai’s assets, financial condition, operating results, customer and employee
relations, or business prospects or the financial statements theretofore
supplied by FTME or Biomedic Shanghai which is, or may reasonably be expected to
be, materially adverse to the respective business, operations (as now
conducted), assets, prospects or condition, financial or otherwise, of FTME and
Biomedic Shanghai or to the proposed Share Exchange.

(l)              Biomedic
Shanghai shall have delivered to the FitMedia Shareholders at Closing an opinion
of reputable Chinese counsel to the effect that the transactions contemplated by
the Stock Purchase Agreement and the Share Exchange Agreement do not violate any
laws, rules or policies of the government of the People’s Republic of China.

4.              Business
Review. From and after the date on which this LOI has been fully executed
(hereinafter referred to as the “Effective Date”) and continuing through
the execution of the Share Exchange Agreement and until the Closing, each of
FTME and Biomedic Shanghai will be permitted to conduct a full and complete
review and investigation, including legal and financial audits, of the business
and affairs of the other, and to obtain such information as may be necessary or
desirable to permit it to investigate the other’s business, including, without
limitation, documentation of its product licenses, agreements, office leases,
patents, copyrights, trade secrets, technology licenses and agreements with
vendors and customers. Each of FTME and Biomedic Shanghai agrees to give the
other and the other’s counsel, accountants, consultants and representatives full
access during normal business hours to all of its premises and all of its files,
records, contracts and other documents and properties as the other or its
counsel, accountants, consultants or representatives may reasonably request.

5.              Exclusivity.
Recognizing that the investigations contemplated in the foregoing paragraph, and
the drafting of the Share Exchange Agreement, will require Biomedic Shanghai and
FTME to expend significant time and expense, and to induce Biomedic Shanghai and
FTME to commence such review and drafting, each of FTME, and Biomedic Shanghai
and the Shareholders agrees that

FitMedia Inc.
August 7, 2007
Page 4

between the date of execution of this LOI and the Termination
Date (as defined below), except as contemplated herein, neither it nor its
directors, officers, representatives or other agents will encourage any offers
from, solicit, encourage or initiate any discussions with, engage in
negotiations with, or provide any information to, any person, entity or group
concerning any proposed or actual merger, share exchange, sale of substantial
assets or similar transaction involving it or any proposed or actual sale of any
of its capital stock.

6.              Confidentiality.
Neither FTME nor Biomedic Shanghai will, nor will it permit any of its
directors, officers, employees, agents, or representatives to, use for any
purpose (other than evaluation of the transactions contemplated hereby) or
disclose to any third parties, any “Confidential Information” regarding
the other. Confidential Information regarding FTME or Biomedic Shanghai shall
consist of information obtained directly or indirectly from it in connection
with the transactions contemplated herein, but shall not include: (a) any
information that already had become or later becomes publicly available; (b) any
information that already had been or later is lawfully developed or obtained by
the party receiving the information from independent sources; (c) any
information the disclosure of which is required by law. If this LOI is
terminated or the Share Exchange is not consummated for any other reason, each
of Biomedic Shanghai and FTME agrees to return or destroy all documents
(including documents stored in electronic media) containing or reflecting
Confidential Information regarding the other.

7.              Fees
and Expenses. Each party shall be responsible for payment of the fees and
expenses that it incurs in connection with the transactions contemplated by this
LOI. Each party represents and warrants to the other that no investment banker,
broker or finder has been involved in the transactions contemplated herein.

8.             
Publicity. No party hereto shall make any public announcement regarding
the transactions contemplated hereby without the other party’s prior written
approval. The parties will, however, issue a mutually agreeable press release
announcing the execution of the Share Exchange Agreement, and FTME will make
such filings with the Securities and Exchange Commission as its counsel
recommends.

9.              Binding
Effect. Although this LOI summarizes many of the major terms of the proposed
transaction, the provisions of the first four paragraphs of this LOI are not
intended to be, and shall not be, legally binding upon the parties. The
provisions of paragraphs 5 through 9, and paragraphs 11 and 12 are intended to
be, and shall be, legally binding upon the parties. This LOI may be signed in
two or more counterparts, any one of which need not contain the signature of
more than one party, but all such counterparts taken together will constitute
one and the same instrument.

11.              Non-Refundable
Fee. The parties agree that Biomedic Shanghai and/or the Shareholders shall
promptly deliver to FitMedia a non-refundable fee upon signing of this LOI in
the amount of $25,000. The fee shall be released to FitMedia and shall be
refundable if, and only if, Biomedic Shanghai and/or the Shareholders fail to
consummate the transactions contemplated hereby by September 15, 2007
because:

	FMTE has delayed or prevented the consummation of the transactions
  contemplated hereby by refusing or neglecting to take the necessary actions to
  complete the transaction; or 

FitMedia Inc.
August 7, 2007
Page 5

	If either the Shareholders or Biomedic Shanghai, upon notice delivered to
  FTME on or before the Due Diligence Deadline, stating that it or they are not
  satisfied with their review and investigation of FTME’s business. 

12.              Termination.
This LOI may be terminated by the respective parties upon written notice in any
of the following circumstances: i) by either FTME or the Shareholders, upon
notice delivered on or before the Due Diligence Deadline, stating that it or
they are not satisfied with its review and investigation of the other party’s
business; ii) by either party, if the Stock Purchase Agreement and Share
Exchange Agreement have not been signed on or before the Due Diligence Deadline;
(iii) by FTME, if $515,000, representing the full purchase price for the
Affiliate Shares has not been deposited by or on behalf of Biomedic Shanghai
and/or the Shareholders to the trust account of the counsel for Biomedic
Shanghai to be held in escrow pending the Closing, or (iii) by either party, if
the Closing has not occurred on or prior to September 15, 2007 (the “Final
Closing Date”). The date on which such notice of termination is received shall
be the “Termination Date.” Each of FTME, Biomedic Shanghai and the
Shareholders and agrees that, following the termination of this LOI pursuant to
its terms, all Confidential Information obtained from the other will be promptly
returned to or destroyed, with such destruction certified by one of its
officers.

FitMedia Inc.
August 7, 2007
Page 6

13.              Extension
of Termination. The Final Closing Date may be extended by 30 days by
Biomedic Shanghai and/or the Shareholders by delivering to FitMedia an
additional non-refundable fee on or prior to the Final Closing Date in the
amount of an additional $35,000. The additional $35,000 shall be released to
FitMedia and shall be refundable if, and only if, Biomedic Shanghai and/or the
Shareholders fail to consummate the transactions contemplated hereby by October
15, 2007 because:

	FMTE has delayed or prevented the consummation of the transactions
  contemplated hereby by refusing or neglecting to take the necessary actions to
  complete the transaction. 

                  If
the foregoing accurately summarizes our understanding, we request that you
approve this LOI, returning a signed and dated copy to us. 

	 	Very truly yours, 
	 	  
	 	BIOMEDIC HOLDING LIMITED 
	 	  
	 	             
           /s/Chan, Chi Ming 
	 	By _______________________________
	 	Name: Chan, Chi Ming 
	 	Title: CEO

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