Document:

Fit For Business International, Inc. - Exhibit 10.2

EXHIBIT 10.2

 
SUBSIDIARY ACQUISITION OPTION AGREEMENT 

                       This
SUBSIDIARY ACQUISITION OPTION AGREEMENT (the "Agreement") is dated
as of February 11, 2008 (the "Effective Date"), by and between Fit for
Business International, Inc., a Nevada corporation ("FFB" or the "Company"),
on the one hand, and Mark Poulsen, an individual ("Poulsen"), on the other
hand. Each of the Company and Poulsen shall be referred to herein as a "Party"
and collectively as the "Parties." 

W I T N E S S E T H 

                       WHEREAS,
the Company owns 100% of the issued and outstanding shares (the "Subsidiary
Shares") of Fit For Business (Australia) Pty Limited ("FFB Australia");

                       WHEREAS,
Poulsen and FFB are parties to that certain Agreement for the Purchase of Stock
dated January 16, 2008 (the "Stock Purchase Agreement"), wherein Poulsen
is entitled to receive Two Hundred Fifty Thousand (250,000) shares of FFB's common
stock (the "FFB Shares") post merger and after any restructuring of the
Company involving a reverse stock split in the year following the signing of the
Stock Purchase Agreement if, within one year after the close of the transaction
contemplated by the Stock Purchase Agreement, FFB undergoes a restructuring involving
a reverse stock split; 

                       WHEREAS,
the Parties wish to enter into an agreement under which FFB has the option, in
its sole discretion, to sell the Subsidiary Shares to Poulsen in exchange for
either the FFB Shares if the shares have been issued, or in exchange for Poulsen
giving up his right to receive the FFB Shares if the shares have not been issued;

                       NOW
THEREFORE, in consideration of the premises and respective mutual agreements,
covenants, representations and warranties herein contained, it is agreed between
the Parties hereto as follows: 

ARTICLE 1 

  OPTION FOR SALE OF THE SUBSIDIARY SHARES 

                       1.1
     Option to Sell the Subsidiary Shares. The
Parties hereby agree that the Company may, in its sole discretion and at any time
after the close of the transaction contemplated by the Stock Purchase Agreement,
sell the Subsidiary Shares to Poulsen. If the Company elects to sell the Subsidiary
Shares to Poulsen it will execute and submit to the Escrow Agent, as defined below,
an executed copy of the Notice of Exercise of Option to Sell Subsidiary Shares,
attached hereto as Exhibit A ("Notice of Exercise"). Upon submission
of the Notice of Exercise to the Escrow Agent, subject to the terms and conditions
set forth herein, and on the basis of the representations, warranties and agreements
herein contained, the Company shall sell to Poulsen and Poulsen shall purchase
from the Company, all of the Subsidiary Shares. 

  

  

                       1.2
     Purchase Price. If the Company exercises
its option to sell the Subsidiary Shares as set forth in Section 1.1, then, as
consideration for the Subsidiary Shares, Poulsen will either transfer the FFB
Shares to the Company if they have been issued, or, transfer the executed Extinguishment
of Rights to receive the FFB Shares, in the form attached hereto as Exhibit B,
if the FFB Shares have not been issued (either the FFB Shares or the Extinguishment
of Rights, as applicable, referred to as the "Purchase Price"). 

                       1.3
     Subsidiary Acquisition Escrow Agreement.
As further set forth in the Subsidiary Option Escrow Agreement dated January 16,
2008, the Company and Poulsen appointed The Lebrecht Group, APLC (the "Escrow
Agent"), to act as the escrow agent as to the delivery of the Purchase Price
received from Poulsen to the Company for the purchase of the Subsidiary Shares
and delivery of the Subsidiary Shares from the Company to Poulsen held in the
Escrow Account if the Company exercises its option to sell the Subsidiary Shares
under this Agreement. At Closing the Company shall deposit the Subsidiary Shares
with the Escrow Agent and Poulsen shall deposit the Purchase Price with the Escrow
Agent. 

ARTICLE 2

  REPRESENTATIONS AND WARRANTIES 

  OF POULSEN 

                       2.1
     Representations and Warranties of Poulsen.
To induce the Company to enter into this Agreement and to consummate the transactions
contemplated hereby, Poulsen represents and warrants as of the date hereof and
as of the Closing, as follows: 

	 	                       2.1.1
         Authority of Poulsen; Transfer/Extinguishment of FFB
      Shares. Poulsen has the full right, power and authority to enter into
      this Agreement and to carry out and consummate the transactions contemplated
      herein. This Agreement, and all of the Exhibits attached hereto, constitutes
      the legal, valid and binding obligation of Poulsen. If required under this
      Agreement, Poulsen shall transfer title in and to the FFB Shares, or extinguish
      his rights to receive the FFB Shares, to the Company free and clear of all
      liens, security interests, pledges, encumbrances, charges, restrictions,
      demands, and claims of any kind or nature whatsoever, whether direct or
      indirect or contingent, other than those imposed by the Securities Act of
      1933. 
	 	 
	 	                       2.1.2
         Subsidiary Shares to be Restricted Securities.
      Poulsen acknowledges that the Subsidiary Shares will be "restricted securities"
      (as such term is defined in Rule 144 promulgated under the Securities Act
      of 1933, as amended ("Rule 144")), will include the customary restrictive
      legend, and, except as otherwise set forth in this Agreement, that the Subsidiary
      Shares cannot be sold for a period of at least one year from the date of
      issuance unless registered with the United States Securities and Exchange
      Commission (the "SEC") and qualified by appropriate state securities regulators,
      and otherwise complies with an exemption from such registration and qualification
      (including, without limitation, compliance with Rule 144). 

 

  

	 	                       2.1.3
         FFB Australia Acquired "As Is". If the Company
      exercises its option under this Agreement to transfer the Subsidiary Shares
      to Poulsen under this Agreement, the Company makes no representations or
      warranties regarding FFB Australia, including, but not limited to, its business,
      its financial condition or statements, its prospects, its employment matters,
      and its regulatory matters. Poulsen acknowledges that he is intimately familiar
      with FFB Australia, its business operations, and its financial condition,
      and is receiving control of FFB Australia on an "as is" basis. 
	 	 
	 	                       2.1.4
         Company Option. The option to sell the Subsidiary
      Shares is in the sole discretion of the Company and if the Company submits
      the Notice of Exercise then Poulsen must accept the Subsidiary Shares in
      exchange for the Purchase Price. 

ARTICLE 3 

  REPRESENTATIONS AND WARRANTIES 

  OF THE COMPANY 

                       3.1
     Representations and Warranties of the Company.
To induce Poulsen to enter into this Agreement and to consummate the transactions
contemplated hereby, the Company represents and warrants, as of the date hereof
and as of the Closing, as follows: 

	 	                       3.1.1
         Authority of the Company/Transfer of Subsidiary Shares.
      The Company has the full right, power and authority to enter into this Agreement
      and to carry out and consummate the transactions contemplated herein. This
      Agreement, and all of the Exhibits attached hereto, constitutes the legal,
      valid and binding obligation of the Company. If it opts to sell the Subsidiary
      Shares, the Company shall transfer title in and to the Subsidiary Shares
      to Poulsen free and clear of all liens, security interests, pledges, encumbrances,
      charges, restrictions, demands, and claims of any kind or nature whatsoever,
      whether direct or indirect or contingent, other than those imposed by the
      Securities Act of 1933.  
	 	 
	 	                       3.1.2
         Corporate Existence and Authority of the Company.
      The Company is a corporation duly organized, validly existing and in good
      standing under the laws of Nevada. It has all requisite corporate power,
      franchises, licenses, permits and authority to own its properties and assets
      and to carry on its business as it has been and is being conducted. It is
      in good standing in each state, nation or other jurisdiction in each state,
      nation or other jurisdiction wherein the character of the business transacted
      by it makes such qualification necessary. 
	 	 
	 	                       3.1.3
         Execution of Agreement. The execution and delivery
      of this Agreement does not, and the consummation of the transactions contemplated
      hereby will not: (a) violate, conflict with, modify or cause any default
      under or acceleration of (or give any Party any right to declare any default
      or acceleration upon notice or passage of time or both), in whole or in
      part, any charter, article of incorporation, bylaw, mortgage, lien, deed
      of trust, indenture, lease, agreement, instrument, order, 

 

 

 

	 	injunction, decree, judgment, law or any other
      restriction of any kind to which the Company is a party or by which it or
      any of its properties are bound; (b) result in the creation of any security
      interest, lien, encumbrance, adverse claim, proscription or restriction
      on any property or asset (whether real, personal, mixed, tangible or intangible),
      right, contract, agreement or business of the Company; (c) violate any law,
      rule or regulation of any federal or state regulatory agency; or (d) permit
      any federal or state regulatory agency to impose any restrictions or limitations
      of any nature on the Company or any of its actions. 
	 	 
	 	                       3.1.4   
      Subsidiary Shares. The Subsidiary Shares, as of the Effective Date
      of this Agreement, are free and clear of all liens, security interests,
      pledges, encumbrances, charges, restrictions, demands, and claims of any
      kind or nature whatsoever, whether direct or indirect or contingent, other
      than those imposed by the Securities Act of 1933. 

ARTICLE 4 

  CLOSING AND DELIVERY OF DOCUMENTS 

                       4.1
     Closing. The Closing (the "Closing") shall
take place remotely at the offices of The Lebrecht Group, APLC, 9900 Research
Drive, Irvine, California, 92618, no later than the close of business (Pacific
Standard Time) on February 12, 2008, or at such other place, date and time as
the Parties may agree in writing (the "Closing Date"). 

                       4.2
     Deliveries by FFB. At the Closing, FFB shall deliver
the following: 

	 	                       4.2.1
         FFB shall deliver to the Escrow Agent to be held in the
      Escrow Account and governed by the Subsidiary Acquisition Option Agreement:
       

	 	                       (a)
         written confirmation of the approval of this Agreement
      and the herein described transactions by FFB's Board of Directors; and 
	 	 
	 	                       (b)   
      stock certificate(s) evidencing the Subsidiary Shares subject to no liens,
      security interests, pledges, encumbrances, charges, restrictions, demands
      or claims in any other party whatsoever, other than those imposed by the
      Securities Act of 1933. 

                       4.3
     Delivery by Poulsen: At the Closing, Poulsen
shall deliver the following: 

 

	 	                       4.3.1
         Poulsen shall deliver to the Escrow Agent to be held in
      the Escrow Account and governed by the Subsidiary Acquisition Option Agreement:
      

	 	                       (a)
         the Purchase Price (either the FFB Shares with a valid
      stock power if they have been issued, or the Extinguishment of Rights if
      the FFB Shares have not been issued) subject to no liens, security interests,
      pledges, 

 

	 	encumbrances, charges, restrictions, demands
      or claims in any other party whatsoever, other than those imposed by the
      Securities Act of 1933. 

ARTICLE 5 

  TERMINATION, AMENDMENT AND WAIVER 

 

                       5.1
      Termination. Notwithstanding anything
to the contrary contained in this Agreement, this Agreement may be terminated
and the transactions contemplated hereby may be abandoned prior to the Closing
Date only by the mutual consent of all of the Parties. 

                       5.2
      Waiver and Amendment. Any term, provision,
covenant, representation, warranty or condition of this Agreement may be waived,
but only by a written instrument signed by the Party entitled to the benefits
thereof. The failure or delay of any Party at any time or times to require performance
of any provision hereof or to exercise its rights with respect to any provision
hereof shall in no manner operate as a waiver of or affect such Party's right
at a later time to enforce the same. No waiver by any Party of any condition,
or of the breach of any term, provision, covenant, representation or warranty
contained in this Agreement, in any one or more instances, shall be deemed to
be or construed as a further or continuing waiver of any such condition or breach
or waiver of any other condition or of the breach of any other term, provision,
covenant, representation or warranty. No modification or amendment of this Agreement
shall be valid and binding unless it be in writing and signed by all Parties hereto.

ARTICLE 6 

  COVENANTS, INDEMNIFICATION

                       6.1
      To induce the Company to enter into this Agreement
and to consummate the transactions contemplated hereby, and without limiting any
covenant, agreement, representation or warranty made, the Poulsen covenants and
agrees as follows: 

	 	                       6.1.1
         Notices and Approvals. Poulsen agrees: (a) to give
      all notices to third parties which may be necessary or desired by the Company
      in connection with this Agreement and the consummation of the transactions
      contemplated hereby; (b) to use his best efforts to obtain all federal and
      state governmental regulatory agency approvals, consents, permit, authorizations,
      and orders required or requested by the Company in connection with this
      Agreement and the consummation of the transaction contemplated hereby; and
      (c) to use his best efforts to obtain all consents and authorizations of
      any other third parties necessary or requested by the Company in connection
      with this Agreement and the consummation of the transactions contemplated
      hereby.  
	 	 
	 	                       6.1.2
         Information for the Company's Statements and Applications.
      Poulsen, and his accountants and attorneys shall cooperate fully with the
      Company in the preparation of any filings, statements or applications made
      by the Company to any federal or state governmental regulatory agency in
      connection with this Agreement 

 

	 	and the transactions contemplated hereby and
      to furnish the Company with all information concerning the Company and/or
      FFB Australia necessary or deemed desirable by the Company for inclusion
      in such statements and applications, including, without limitation, all
      requisite financial statements and schedules. 
	 	 
	 	                       6.1.3
         Access to Information. The Company, together with
      its appropriate attorneys, agents and representatives, shall be permitted
      to make the full and complete investigation of Poulsen relative to the transaction
      contemplated by this Agreement and have full access to all of the books
      and records of Poulsen, relative to the transaction contemplated by this
      Agreement, and FFB Australia during reasonable business hours. Notwithstanding
      the foregoing, such parties shall treat all such information as confidential
      and shall not disclose such information without the prior consent of the
      other. 

                       6.2
      Indemnification. 

	 	                       6.2.1
         Indemnity of the Company. Poulsen agrees to indemnify,
      defend and hold the Company harmless from and against any and all Losses
      (as hereinafter defined) arising out of or resulting from the breach by
      Poulsen of any representation, warranty, covenant or agreement of Poulsen
      contained in this Agreement or the schedules and exhibits hereto. For purposes
      of Section 6.3, the term "Losses" shall mean all damages, costs and expenses
      (including reasonable attorneys' fees) of every kind, nature or description,
      it being the intent of the Parties that the amount of any such Loss shall
      be the amount necessary to restore the indemnified party to the position
      it would have been in (economically or otherwise), including any costs or
      expenses incident to such restoration, had the breach, event, occurrence
      or condition occasioning such Loss never occurred. Notwithstanding the foregoing
      provisions of this section, no claim for indemnification shall be made by
      the Company under this Section unless and until the aggregate amount of
      all Losses of the Company in respect thereof shall exceed $5,000. 

    
	 	 
	 	                       6.2.2
         Indemnification Procedure.  

 

	 	                       (a)
         An indemnified party shall notify the indemnifying party
      of any claim of such indemnified party for indemnification under this Agreement
      within thirty days (30) of the date on which such indemnified party or an
      executive officer or representative of such indemnified party first becomes
      aware of the existence of such claim. Such notice shall specify the nature
      of such claim in reasonable detail and the indemnifying party shall be given
      reasonable access to any documents or properties within the control of the
      indemnified party as may be useful in the investigation of the basis for
      such claim. The failure to so notify the indemnifying party within such
      thirty-day (30) period shall not constitute a waiver of such claim but an
      indemnified party shall not be entitled to receive any indemnification with
      respect to any 

 

	 	additional loss that occurred as a result of
      the failure of such person to give such notice. 

      

                             In
      the event any indemnified party is entitled to indemnification hereunder
      based upon a claim asserted by a third party (including a claim arising
      from an assertion or potential assertion of a claim for Taxes), the indemnifying
      party shall be given prompt notice thereof, in reasonable detail. The failure
      to so notify the indemnifying party shall not constitute a waiver of such
      claim but an indemnified party shall not be entitled to receive any indemnification
      with respect to any Loss that occurred as a result of the failure of such
      person to give such notice. The indemnifying party shall have the right
      (without prejudice to the right of any indemnified party to participate
      at its expense through counsel of its own choosing) to defend or prosecute
      such claim at its expense and through counsel of its own choosing if it
      gives written notice of its intention to do so not later than twenty (20)
      days following notice thereof by the indemnifying party or such shorter
      time period as required so that the interests of the indemnified party would
      not be materially prejudiced as a result of its failure to have received
      such notice; provided, however, that if the defendants in any action shall
      include both an indemnifying party and an indemnified party and the indemnified
      party shall have reasonably concluded that counsel selected by the indemnifying
      party has a conflict of interest because of the availability of different
      or additional defenses to the indemnified party, the indemnified party shall
      have the right to select separate counsel to participate in the defense
      of such action on its behalf, at the expense of the indemnifying party.
      If the indemnifying party does not so choose to defend or prosecute any
      such claim asserted by a third party for which any indemnified party would
      be entitled to indemnification hereunder, then the indemnified party shall
      be entitled to recover from the indemnifying party, on a monthly basis,
      all of its attorneys' reasonable fees and other costs and expenses of litigation
      of any nature whatsoever incurred in the defense of such claim. Notwithstanding
      the assumption of the defense of any claim by an indemnifying party pursuant
      to this paragraph, the indemnified party shall have the right to approve
      the terms of any settlement of a claim (which approval shall not be unreasonably
      withheld). 

      

                             (b)
         The indemnifying party and the indemnified party shall
      cooperate in furnishing evidence and testimony and in any other manner which
      the other may reasonably request, and shall in all other respects have an
      obligation of good faith dealing, one to the other, so as not to unreasonably
      expose the other to an undue risk of loss. The indemnified party shall be
      entitled to reimbursement for out-of-pocket expenses reasonably incurred
      by it in connection with such cooperation. Except for fees and expenses
      for which indemnification is provided pursuant to Section 6.3, as the case
      may be, and as provided in the preceding sentence, each party shall bear
      its own fees and expenses incurred pursuant to this paragraph (b). 

  

 

ARTICLE 7 

  MISCELLANEOUS 

                       7.1
      Expenses. Except as otherwise specifically
provided for herein, whether or not the transactions contemplated hereby are consummated,
each of the Parties hereto shall bear the cost of all fees and expenses relating
to or arising from its compliance with the various provisions of this Agreement
and such Party's covenants to be performed hereunder, and except as otherwise
specifically provided for herein, each of the Parties hereto agrees to pay all
of its own expenses (including, without limitation, attorneys and accountants'
fees and printing expenses) incurred in connection with this Agreement, the transactions
contemplated hereby, the negotiations leading to the same and the preparations
made for carrying the same into effect, and all such fees and expenses of the
Parties hereto shall be paid prior to Closing. 

                       7.2
      Any notice, request, instruction or other
document required by the terms of this Agreement, or deemed by any of the parties
hereto to be desirable, to be given to any other party hereto shall be in writing
and shall be delivered by facsimile or overnight courier to the following addresses:

	 	If to Poulsen: 

      

      Mark Poulsen 

      Fit For Business (Australia) Pty, Ltd. 

      10/27 Mayneview Street, Milton Q 4064 Australia 

      Telephone: 0733673355 

      Facsimile: 07336732252 

      Email - mark@fitforbusiness.com.au 

      

      If to the Company: 

      

      Fit For Business, Inc. 

      c/o Anslow + Jaclin, LLP 

      195 Route 9 South, Suite 204 

      Manalapan, NJ 07726 

      Telephone: 732-409-1212 

      Facsimile: 732-577-1188 

      Attention: Richard I. Anslow, Esq 

                       The
persons and addresses set forth above may be changed from time to time by a notice
sent as aforesaid. Notice shall be conclusively deemed given at the time of delivery
if made during normal business hours, otherwise notice shall be deemed given on
the next business day. 

                       7.3
      Entire Agreement. This Agreement, together
with the schedules and exhibits hereto, sets forth the entire agreement and understanding
of the Parties hereto with respect to 

  

 

the transactions contemplated hereby, and supersedes all prior
agreements, arrangements and understandings related to the subject matter hereof.
No understanding, promise, inducement, statement of intention, representation,
warranty, covenant or condition, written or oral, express or implied, whether
by statute or otherwise, has been made by any Party hereto which is not embodied
in this Agreement, or exhibits hereto or the written statements, certificates,
or other documents delivered pursuant hereto or in connection with the transactions
contemplated hereby, and no Party hereto shall be bound by or liable for any alleged
understanding, promise, inducement, statement, representation, warranty, covenant
or condition not so set forth. 

                       7.4
      Survival of Representations. All statements
of fact (including financial statements) contained in the schedules, the exhibits,
the certificates or any other instrument delivered by or on behalf of the Parties
hereto, or in connection with the transactions contemplated hereby, shall be deemed
representations and warranties by the respective Party hereunder. All representations,
warranties, agreements, and covenants hereunder shall survive the Closing and
remain effective regardless of any investigation or audit at any time made by
or on behalf of the Parties or of any information a Party may have in respect
thereto. Consummation of the transactions contemplated hereby shall not be deemed
or construed to be a waiver of any right or remedy possessed by any Party hereto,
notwithstanding that such Party knew or should have known at the time of Closing
that such right or remedy existed. 

                       7.5
      Incorporated by Reference. All documents
(including, without limitation, all financial statements) delivered as part hereof
or incident hereto are incorporated as a part of this Agreement by reference.

                       7.6
      Remedies Cumulative. No remedy herein
conferred upon any Party is intended to be exclusive of any other remedy and each
and every such remedy shall be cumulative and shall be in addition to every other
remedy given hereunder or now or hereafter existing at law or in equity or by
statute or otherwise. 

                       7.7
      Execution of Additional Documents.
Each Party hereto shall make, execute, acknowledge and deliver such other instruments
and documents, and take all such other actions as may be reasonably required in
order to effectuate the purposes of this Agreement and to consummate the transactions
contemplated hereby. 

                       7.8
      Finders' and Related Fees. Each of
the Parties hereto is responsible for, and shall indemnify the other against,
any claim by any third party to a fee, commission, bonus or other remuneration
arising by reason of any services alleged to have been rendered to or at the instance
of said Party to this Agreement with respect to this Agreement or to any of the
transactions contemplated hereby. 

                       7.9
      Governing Law. This Agreement has been
negotiated and executed in the State of California and shall be construed and
enforced in accordance with the laws of such state. 

  

 

                       7.10
      Forum. Each of the Parties hereto agrees
that any action or suit which may be brought by any Party hereto against any other
Party hereto in connection with this Agreement or the transactions contemplated
hereby may be brought only in a federal or state court in Los Angeles, California.

                       7.11
      Attorneys' Fees. Except as otherwise provided
herein, if a dispute should arise between the Parties including, but not limited
to arbitration, the prevailing Party shall be reimbursed by the nonprevailing
Party for all reasonable expenses incurred in resolving such dispute, including
reasonable attorneys' fees exclusive of such amount of attorneys' fees as shall
be a premium for result or for risk of loss under a contingency fee arrangement.

                       7.12
     Binding Effect and Assignment. This Agreement
shall inure to the benefit of and be binding upon the Parties hereto and their
respective heirs, executors, administrators, legal representatives and assigns.

                       7.13
     Counterparts. This Agreement may be executed
in counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. In making proof of this Agreement,
it shall not be necessary to produce or account for more than one such counterpart.

                       [Remainder
of page intentionally left blank; signatures to follow] 

  

 

                       IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date
first written hereinabove. 

	"Poulsen" 

    	"Company" 
	 	 
	Mark Poulsen 

      an individual 	Fit For Business International, Inc. 

      a Nevada corporation 
	 	 
	 	 
	/s/ Mark Poulsen                                     
       	/s/ Mark Poulsen                                     
      
	Mark Poulsen 	By:   Mark Poulsen
	 	Its:   CEO 
	 	 
	 	 

  

 

Exhibit A 

  

  Form of Notice of Exercise 

                       The
undersigned, the holder of the option under that certain Subsidiary Acquisition
Option Agreement to sell 100% of the shares of the Fit For Business (Australia)
Pty Limited ("Subsidiary Shares") to Mark Poulsen in exchange for either 250,000
shares of Fit For Business International, Inc., a Nevada corporation, if the shares
have been issued, or in exchange for Poulsen giving up his right to receive those
shares if the shares have not been issued (the "Purchase Price"), hereby irrevocably
elects to exercise its right to sell the Subsidiary Shares to Mark Poulsen in
exchange for the Purchase Price. 

	Dated: ____________________, 20___ 

    	_________________________________ 
	 	By: _____________________________ 

      Its: _____________________________ 
	 	 
	 	 
	 	 

  

A-1

Exhibit B 

  

  Extinguishment of Rights 

  

  EXTINGUISHMENT OF RIGHTS

                       This
Extinguishment of Rights (this "Extinguishment") is dated as of February 11, 2008
by and among Mark Poulsen, an individual ("Poulsen") and Fit for Business International,
Inc., a Nevada corporation ("FFB" or the "Company"). 

RECITALS 

                       WHEREAS,
Poulsen and FFB are parties to that certain Agreement for the Purchase of Stock
dated January 16, 2008 (the "Stock Purchase Agreement"), wherein Poulsen is entitled
to receive Two Hundred Fifty Thousand (250,000) shares of FFB's common stock (the
"FFB Shares") post merger and after any restructuring of the Company involving
a reverse stock split in the year following the signing of the Stock Purchase
Agreement if, within one year after the close of the transaction contemplated
by the Stock Purchase Agreement, FFB undergoes a restructuring involving a reverse
stock split; 

                       WHEREAS,
FFB and Poulsen are parties to a Subsidiary Acquisition Option Agreement dated
of even date herewith (the "Subsidiary Acquisition Option Agreement"), wherein
FFB has an option, exercisable in its sole discretion, to sell 100% of the capital
stock of Fit For Business (Australia) Pty Limited ("FFB Australia") to Poulsen
in exchange for the FFB Shares or Poulsen's right to receive the FFB Shares, as
applicable; 

                       WHEREAS,
FFB and Poulsen are parties to an Escrow Agreement dated of even date herewith
(the "Subsidiary Acquisition Escrow Agreement") to govern the FFB Shares and the
shares of FFB Australia after the close of the transaction contemplated by the
Stock Purchase Agreement to ensure the FFB Shares remain in escrow throughout
the time FFB has to exercise its option to sell 100% of the capital stock of FFB
Australia, as set forth in the Subsidiary Acquisition Option Agreement; 

                       WHEREAS,
the FFB Shares have not yet been issued to Poulsen because certain conditions
precedent to their issuance under the Stock Purchase Agreement have not been satisfied,
and may not be issued at the time FFB exercises its option to sell the shares
of FFB Australia to Poulsen, if FFB elects to exercise its option; therefore,
Poulsen is executing this Extinguishment in favor of FFB for delivery into escrow,
which, if delivered to FFB pursuant to the Subsidiary Acquisition Escrow Agreement,
will act to extinguish Poulsen's right to receive the FFB Shares under the Stock
Purchase Agreement if FFB exercises its option to sell the shares of FFB Australia
to Poulsen prior to Poulsen receiving the FFB Shares. 

                       NOW,
THEREFORE, for good and valuable consideration, the receipt of which is hereby
acknowledged, Poulsen and the Company hereby agree as follows: 

                       1.
          Poulsen hereby forever
extinguishes and gives up his right to receive the FFB Shares from the Company
under the Stock Purchase Agreement. 

  

Page 1 of 3 

                       2.
          Poulsen warrants that
(i) the Stock Purchase Agreement, the Subsidiary Acquisition Option Agreement,
the Subsidiary Acquisition Escrow Agreement, and any accompanying other instruments
(collectively "Contracts") are true, valid and genuine and represent existing
valid and enforceable obligations in accordance with their terms; (ii) all signatures,
names, addresses, amounts and other statements and facts contained therein are
true and correct; (iii) the Contracts (including their form and substance and
the computation of all charges) and the transactions underlying the obligations
(including any sale and delivery) conform to all applicable laws, rules, regulations,
ordinances and orders; and (iv) the undersigned is acting in the capacity indicated
below, has full authority to act in such capacity, and to bind Poulsen to the
terms of this Agreement. In addition, Poulsen shall indemnify and save the Company
harmless from any loss, damage or expense, including attorneys' fees, incurred
by the Company as a result of Poulsen's breach of any of the terms of this Extinguishment
or any of the warranties, obligations or undertakings described herein. 

                       3.
          The Company agrees
to the Extinguishment. 

                       4.
          The Company represents
and warrants that the undersigned is acting in the capacity indicated below, has
full authority from the Company to act in such capacity, and to bind the Company
to the terms of this Extinguishment. 

                       5.
          The Company warrants
and agrees that: (i) Company hereby consents to the Extinguishment by Poulsen
to the Company of Poulsen's right to receive the FFB Shares; (ii) this Extinguishment
shall not be construed as a consent by Company to any further extinguishment by
Poulsen of any other rights under the Stock Purchase Agreement; and (iii) to the
best of Company's knowledge, the Contracts are in full force and effect, there
are no uncured defaults on the part of any party to the Contracts, and there are
no existing offsets or defenses which either party has against enforcement of
the Contracts. 

[signature page to follow] 

  

Page 2 of 3

 

                       IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed
as of the date first set forth above. 

	"Poulsen" 

    	"The Company" 
	 	 
	Mark Poulsen 

      an individual 	Fit for Business International, Inc., 

      a Nevada corporation 
	 	 
	 	 
	/s/ Mark Poulsen                                     
       	/s/ Mark Poulsen                                     
      
	By:   Mark Poulsen, an individual
      	By:   Mark Poulsen
	 	Its:   CEO 
	 	 
	 	 

  

Page 3 of 3Exhibit 10.1

Exhibit 10.1

SonoSite, Inc.

FY2008 Variable Incentive Bonus Plan

1. Purpose

The SonoSite, Inc FY2008 Variable Incentive Bonus Plan (the "Plan") is intended to: (i) enhance shareholder value by promoting strong linkages between employee contributions and company performance; (ii) support
achievement of the business objectives of SonoSite, Inc. and its subsidiaries (the "Company"); and (iii) promote retention of participating employees.

2. Effective Date

This Plan is only effective for the Company's 2008 fiscal year beginning January 1, 2008, through December 31, 2008 (the "Plan Year"). This Plan is limited in time and will expire automatically on December 31, 2008
("Expiration Date"). This Plan also supersedes all prior bonus or commission incentive plans, whether with the Company or any subsidiary or affiliate thereof, or any written or verbal representations regarding the subject matter of this Plan.

3. Administration

	
(a)     

	
The Plan shall be administered by the Compensation Committee of the Board of Directors of the Company (the "Administrator"). The Administrator shall have all powers and discretion necessary or appropriate to
administer the Plan and to control its operation, including, but not limited to, the power to (a) determine which employees are eligible to participate in the Plan, (b) prescribe the terms and conditions of the variable incentive plan payouts hereunder (as
further defined in Section 5 below, the "VIP Payouts"), (c) interpret the Plan and the VIP Payouts, (d) adopt rules for the administration, interpretation and application of the Plan as are consistent therewith, and (e) interpret, amend or revoke any such
rules. The Company's President and its Vice President, Human Resources will be responsible for implementing the Plan.

	
          

	
                                                                                                                                                                            

	
(b)

	
All determinations and decisions made by the Administrator, the Board, and any delegate of the Administrator pursuant to the provisions of the Plan shall be final, conclusive, and binding on all persons, and
shall be given the maximum deference permitted by law.

	
          

	
                                                                                                                                                                            

	
(c)

	
The Administrator, in its sole discretion and on such terms and conditions as it may provide, may delegate all or part of its authority and powers under the Plan to one or more directors and/or officers of the
Company.

	
          

	
                                                                                                                                                                            

	
(d)

	
The Company shall provide a copy of the Plan to each Participant (as defined in Section 4 below) and communicate to each Participant his or her Incentive Target Percentage as well as provide information about the
Performance Graph (as each such term in defined in Section 5 below).

4. Eligibility

Any full-time regular employee of the Company may be eligible to participate in this Plan, provided he or she is designated by the Administrator as a participant and as to whom the Administrator has not, in its sole
discretion, withdrawn such designation (a "Participant") and he or she meets all the following conditions:

	
(a)     

	
he or she has signed the individualized Executive Compensation Plan to which this Plan is attached;

	
          

	
                                                                                                                                                                            

	
(b)

	
is a full-time regular employee of the Company as of both (1) the last day of the Plan Year, and (2) the date the payment is made (subject to Section 6 below);

	
          

	
                                                                                                                                                                            

	
(c)

	
is not concurrently participating in a sales incentive or commission plan, or in any other bonus plan operated by or bonus contract with the Company;

	
          

	
                                                                                                                                                                            

	
(d)

	
has not entered into an agreement relating to termination of his or her employment with the Company (other than an employment agreement or offer letter, change of control agreement, or equity compensation
agreement that provides for certain benefits in connection with the Participant's future termination of employment);

	
          

	
                                                                                                                                                                            

	
(e)

	
has not transferred to a position with the Company that either (1) is not eligible for participation in this Plan (as determined in the Administrator's sole discretion), or (2) is eligible for participation in
another annual bonus program offered by the Company; and

	
          

	
                                                                                                                                                                            

	
(f)

	
is not subject to a Performance Improvement Plan or other disciplinary actions, including has not engaged in any activity that the Administrator determines to be competitive with the Company and its
business.

5. Plan Metrics

	
(a)     

	
Each Participant shall be designated in writing as a Participant under either the Corporate Program or the Sales, General and Administrative Program  (“SG&A Program”.  Subject to Section 5(b),
the VIP Payout under each Program under this Plan for each Participant will be calculated based upon the following formula (the "Payout Formulas"):

	
          

	
                                                                                                                                                                          

	
          

	
Base

 Salary 

	
X

	
Incentive

 Target       

	
X

	
Matrix

 Percentage    

	
=

	
VIP                                                                          

 Payout

	
          

	
           

	
    

	
Percentage

	
    

	
Factor           

	
    

	
	
          

	
                                                                                                                                                                          

		
The Base Salary is the Participant's base salary actually paid to the Participant for the Plan Year; provided that such base salary will be pro-rated based on hire or promotion date or to take into account any leaves of
absence.  Nothing in this Plan, or arising as a result of a Participant's participation in this Plan, shall prevent the Company from changing a Participant's Base Salary at any time based on such factors as the Company shall in its discretion determine
appropriate.

	
          

	
		
Incentive Target Percentage is a percentage of Base Salary determined by the Administrator according to such factors as it, in its sole discretion, deems appropriate, including based upon job function, individual Participant
performance, competitive market data and historical Company compensation.

	
          

	
		
Matrix Percentage Factor shall be a percentage set forth in a graph (the "Performance Graph") approved by the Administrator.  Under the Corporate Plan, ch one axis shall reflect the Revenue Factor and the other axis shall
reflect the Operating Profits Factor.  Under the SG&A Plan, one axis shall reflect the Revenue Factor and the other axis shall reflect the SG&A Percentage.  In calculating actual VIP Payouts, determination of the applicable Matrix Percentage Factor
for the above formula shall be made with reference to actual Company annual results with respect to each of the Revenue, the Operating Profits Factor and the SG&A Percentage.

	
          

	
                                                                                                                                                                          

		
Revenue Factor is determined based upon the achievement by the Company of annual corporate revenue targets established by the Administrator. Revenue shall be measured in accordance with generally accepted accounting
principles, excluding certain one-time extraordinary charges as determined by the Administrator. When the Revenue Factor falls between the stated targets, the Revenue Factor will be determined using a straight-line interpolation approach.

	
          

	
                                                                                                                                                          

		
Operating Profit Factor is determined based upon the achievement by the Company of annual corporate operating profit targets established by the Administrator. Operating profit shall be defined as EBIT (Earnings Before Interest
and Taxes) and shall be measured in accordance with generally accepted accounting principles, excluding certain one-time extraordinary charges or other adjustments as determined by the Administrator. When the Operating Profit Factor falls between the stated targets,
the Operating Profit Factor will be determined using a straight-line interpolation approach.

SG&A Percentage is determined based upon the percentage of revenue represented by the unallocated direct and indirect selling expenses and all general and administrative expenses of the Company for the period ending
December 31, 2008.

	
          

	
                                                                                                                                                          

	
(b)

	
All VIP Payouts shall be paid from the general assets of the Company, but only to the extent that the operating profit of the Company includes accruals for the VIP Payouts.  Notwithstanding anything to the contrary
contained herein, the Administrator has the discretion to determine to pay less than the full amount (including to pay zero percent) of the VIP Payout to which any Participant would otherwise be entitled, which determination shall be based upon such factors as the
Administrator determines appropriate (including without limitation as a result of the Company's or a Participant's failing to achieve one or more objectives with respect to the Plan Year, as a result of which it would be against the best interests of the Company and
its shareholders to pay all or any portion of such VIP Payout).  In addition, the maximum amount of VIP Payout to which any individual Participant may become entitled hereunder shall not exceed $2,000,000.

	
          

	
                                                                                                                                                          

	
(c)

	
VIP Payouts shall be unsecured, unfounded obligations of the Company.  To the extent they have any rights under this Plan, Participants' rights shall be those of general unsecured creditors of the Company. In the event of
a Participant's death, participation in the Plan will cease.  Earned prorated VIP Payouts will be paid to the employee's estate after the end of the Plan Year  (as provided in Section 6 below) but only to the extent VIP Payouts are made to other Plan
Participants.

	
          

	
                                                                                                                                                          

	
(d)

	
In the event of a Participant's death, participation in the Plan will cease.  Earned prorated VIP Payouts will be paid to the employee's estate after the end of the Plan Year  (as provided in Section 6 below) but
only to the extent VIP Payouts are made to other Plan Participants.

	
          

	
                                                                                                                                                          

	
(e)

	
VIP Payouts for Participants designated for participation by the Administrator after the beginning of the fiscal year will be pro-rated to reflect actual length of service during the Plan Year (with such pro-ration occurring
either through the amount of Base Salary reflected in the Payout Formula or otherwise in order to reflect the appropriate amount of VIP Payout given actual length of service).  Pro-rationing shall be based upon number of full months worked, with credit being
given for a full month of service if the Participant worked for at least 15 calendar days of any month.

	
          

	
                                                                                                                                                          

	
(f)

	
VIP Payouts for Participants with unpaid leaves of absence (other than FMLA or leaves of absence required under federal, state or local law or regulations) exceeding 90 days during the Plan Year (not including PTO used or
eligible medical/family leave) will be pro-rated to exclude the entire leave of absence. VIP Payouts for Participants with leaves of absence less than or equal to 90 days during FY2007 will not be pro-rated to exclude the leave of absence.

6. Timing and Form of Payment of VIP Payouts

Subject to the terms and conditions of this Plan, VIP Payouts shall be made on an annual basis by March 1 following the end of the Plan Year.

7. Plan Changes; No Entitlement

The Administrator may at any time amend, suspend, or terminate this Plan, including amending any aspect of the Payout Formula or the Performance Graph and may amend the Plan so as to ensure that no amount paid or to be paid
hereunder shall be subject to the provision of Internal Revenue Code Section 409A(a)(1)(B).  Nothing in this Plan is intended to create an entitlement to any employee for any incentive payment hereunder.

8. General Provisions

	
(a)     

	
Tax Withholding. The Company shall withhold all applicable taxes from any VIP Payout, including any federal, state and local taxes.

	
          

	
                                                                                                                                                                            

	
(b)

	
No Effect on Employment or Service. Nothing in the Plan shall interfere with or limit in any way the right of the Company to terminate any Participant's employment or service at any time, with or without cause. Employment with
the Company is on an at-will basis only. The Company expressly reserves the right, which may be exercised at any time, to terminate any individual's employment with or without cause without regard to the effect it might have upon him or her as a Participant under
this Plan.

	
          

	
                                                                                                                                                                            

	
(c)

	
Nontransferability of Awards. No award granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution. All
rights with respect to an award granted to a Participant shall be available during his or her lifetime only to the Participant.

	
          

	
                                                                                                                                                                            

	
(d)

	
Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed
and enforced as if the illegal or invalid provision had not been included.

	
          

	
                                                                                                                                                                            

	
(e)

	
Governing Law. The Plan and all awards shall be construed in accordance with and governed by the laws of the State of Washington, but without regard to its conflict of law provisions.

	
          

	
                                                                                                                                                                            

	
(f)

	
Entire Agreement. This Plan, and any resolutions of the Compensation Committee of the Board amending the Plan, is the entire understanding between the Company and the employee regarding the subject matter of this
Plan and supersedes all prior bonus or commission incentive plans, or employment contracts whether with any subsidiary, or affiliate thereof (including SonoSite, Inc.) or any written or verbal representations regarding the subject matter of this Plan. Participation
in this Plan during the Plan Year will not convey any entitlement to participate in this or future plans or to the same or similar bonus benefits. Payments under this Plan are an extraordinary item of compensation that is outside the normal or expected compensation
for the purpose of calculating any extra benefits, termination, severance, redundancy, end-of-service premiums, bonuses, long-service awards, overtime premiums, pension or retirement benefits or other similar payment.

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