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Exhibit 10.02  

 
 

NATIONWIDE FINANCIAL SOLUTIONS, INC.    
    
    2004 STOCK OPTION PLAN    
    

Article I. Establishment and Purpose  

        1.1   Establishment. Nationwide Financial Solutions, Inc., a Nevada corporation (the "Company"), hereby establishes a
stock option plan for officers, directors, employees and consultants who provide services to the Company, as described herein, which shall be known as the 2004 Stock Option Plan (the "Plan"). It is
intended that certain of the options issued under the Plan to employees of the Company shall constitute "Incentive Stock Options" within the meaning of section 422A of the Internal Revenue Code
("Code"), and that other options issued under the Plan shall constitute "Nonstatutory Options" under the Code. The Board of Directors of the Company (the "Board") shall determine which options are to
be Incentive Stock Options and which are to be Nonstatutory Options and shall enter into option agreements with recipients accordingly. 

        1.2   Purpose. The purpose of this Plan is to enhance the Company's stockholder value and financial performance by attracting,
retaining and motivating the Company's officers, directors, key employees and consultants and to encourage stock ownership by such individuals by providing them with a means to acquire a proprietary
interest in the Company's success through stock ownership. 

Article II. Definitions  

        2.1   Definitions. Whenever used herein, the following capitalized terms shall have the meanings set forth below, unless the
context clearly requires otherwise. 

        (a)   "Board"
means the Board of Directors of the Company. 

        (b)   "Code"
means the Internal Revenue Code of 1986, as amended. 

        (c)   "Committee"
shall mean the Committee provided for by Article IV hereof. 

        (d)   "Company"
means Nationwide Financial Solutions, Inc., a Nevada corporation. 

        (e)   "Consultant"
means any person or entity, including an officer or director of the Company who provides services (other than as an Employee) to the Company and shall
include a Nonemployee Director, as defined below. 

        (f)    "Date
of Exercise" means the date the Company receives notice, by an Optionee, of the exercise of an Option pursuant to section 8.1 of the Plan. Such notice shall
indicate the number of shares of Stock the Optionee intends to exercise. 

        (g)   "Employee"
means any person, including an officer or director of the Company who is employed by the Company. 

        (h)   "Fair
Market Value" means the fair market value of Stock upon which an Option is granted under this Plan. 

        (i)    "Incentive
Stock Option" means an Option granted under this Plan which is intended to qualify as an "incentive stock option" within the meaning of section 422A of
the Code. 

        (j)    "Nonemployee
Director" means a member of the Board who is not an employee of the Company at the time an Option is granted hereunder. 

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        (k)   "Nonstatutory
Option" means an Option granted under the Plan which is not intended to qualify as an Incentive Stock Option within the meaning of section 422A of
the Code. Nonstatutory Options may be granted at such times and subject to such restrictions as the Board shall determine without conforming to the statutory rules of section 422A of the Code
applicable to Incentive Stock Options. 

        (l)    "Option"
means the right, granted under the Plan, to purchase Stock of the Company at the option price within a specified period of time. For purposes of this Plan, an
Option may be either an Incentive Stock Option or a Nonstatutory Option. 

        (m)  "Optionee"
means an Employee or Consultant holding an Option under the Plan. 

        (n)   "Parent
Corporation" shall have the meaning set forth in section 425(e) of the Code with the Company being treated as the employer corporation for purposes of
this definition. 

        (o)   "Significant
Shareholder" means an individual who, within the meaning of section 422A(b)(6) of the Code, owns securities possessing more than ten percent
of the total combined voting power of all classes of securities of the Company. In determining whether an individual is a Significant Shareholder, an individual shall be treated as owning securities
owned by certain relatives of the individual and certain securities owned by corporations in which the individual is a shareholder; partnerships in which the individual is a partner; and estates or
trusts of which the individual is a beneficiary, all as provided in section 425(d) of the Code. 

        (p)   "Stock"
means the $0.001 par value common stock of the Company. 

        2.2   Gender and Number. Except when otherwise indicated by the context, any masculine terminology when used in this Plan also
shall include the feminine gender, and the definition of any term herein in the singular also shall include the plural. 

Article III. Eligibility and Participation  

        3.1   Eligibility and Participation. All Employees are eligible to participate in this Plan and receive Incentive Stock Options
and/or Nonstatutory Options hereunder. All Consultants are eligible to participate in this Plan and receive Nonstatutory Options hereunder. Optionees in the Plan shall be selected by the Board from
among those Employees and Consultants who, in the opinion of the Board, are in a position to contribute materially to the Company's continued growth and development and to its long-term
financial success. 

Article IV. Administration  

        4.1   Administration. The Board shall be responsible for administering the Plan. 

        The
Board is authorized to interpret the Plan; to prescribe, amend, and rescind rules and regulations relating to the Plan; to provide for conditions and assurances deemed necessary or
advisable to protect the interests of the Company; and to make all other determinations necessary or advisable for the administration of the Plan, but only to the extent not contrary to the express
provisions of the Plan. Determinations, interpretations or other actions made or taken by the Board, pursuant to the provisions of this Plan, shall be final and binding and conclusive for all purposes
and upon all persons. 

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        The
Plan shall be administered by the Board until the Board establishes a Compensation Committee of the Board (the "Committee") which will be an executive committee of the Board,
consisting of not less than three (3) members of the Board, at least two of whom are not executive officers or salaried employees of the Company. The members of the Committee may be directors
who are eligible to receive Options under the Plan, but Options may be granted to such persons only by action of the full Board and not by action of the Committee. The Committee shall have full power
and authority, subject to the limitations of the Plan and any limitations imposed by the Board, to construe, interpret and administer the Plan and to make determinations which shall be final,
conclusive and binding upon all persons, including, without limitation, the Company, the stockholders, the directors and any persons having any interests in any Options which may be granted under the
Plan, and, by resolution or resolution providing for the creation and issuance of any such Option, to fix the terms upon which, the time or times at or within which, and the price or prices at which
any Stock may be purchased from the Company upon the exercise of Options, which terms, time or times and price or prices shall, in every case, be set forth or incorporated by reference in the
instrument or instruments evidencing such Option, and shall be consistent with the provisions of the Plan. 

        The
Board may from time to time remove members from or add members to, the Committee. The Board may terminate the Committee at any time. Vacancies on the Committee, howsoever caused,
shall be filled by the Board. The Committee shall select one of its members as Chairman, and shall hold meetings at such times and places as the Chairman may determine. A majority of the Committee at
which a quorum is present, or acts reduced to or approved in writing by all of the members of the Committee, shall be the valid acts of the Committee. A quorum shall consist of two-thirds
(2/3) of the members of the Committee. 

        Where
the Committee has been created by the Board, references herein to actions to be taken by the Board shall be deemed to refer to the Committee as well, except where limited by the
Plan or the Board. 

        The
Board shall have all of the enumerated powers of the Committee but shall not be limited to such powers. No member of the Board or the Committee shall be liable for any action or
determination made in good faith with respect to the Plan or any Option granted under it. 

        4.2   Special Provisions for Grants to Officers or Directors. Rule 16b-3 under the Securities and Exchange
Act of 1934 (the "Act") provides that the grant of a stock option to a director or officer of a company subject to the Act will be exempt from the provisions of section 16(b) of the Act
if the conditions set forth in said Rule are satisfied. Unless otherwise specified by the Board, grants of Options hereunder to individuals who are officers or directors of the Company shall be
made in a manner that satisfies the conditions of said Rule. 

Article V. Stock Subject to the Plan  

        5.1   Number. The total number of shares of Stock hereby made available and reserved for issuance under the Plan shall be
3,000,000. The aggregate number of shares of Stock available under this Plan shall be subject to adjustment as provided in section 5.3. The total number of shares of Stock may be authorized but
unissued shares of Stock, or shares acquired by purchase as directed by the Board from time to time in its discretion, to be used for issuance upon exercise of Options granted hereunder. 

        5.2   Unused Stock. If an Option shall expire or terminate for any reason without having been exercised in full, the
unpurchased shares of Stock subject thereto shall (unless the Plan shall have terminated) become available for other Options under the Plan. 

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        5.3   Adjustment in Capitalization. In the event of any change in the outstanding shares of Stock by reason of a stock dividend
or split, recapitalization, reclassification or other similar corporate change, the aggregate number of shares of Stock set forth in section 5.1 shall be appropriately adjusted by the Board to
reflect such change. The Board's determination shall be conclusive; provided, however, that fractional shares shall be rounded to the nearest whole share. In any such case, the number and kind of
shares of Stock that are subject to any Option (including any Option outstanding after termination of employment) and the Option price per share shall be proportionately and appropriately adjusted
without any change in the aggregate Option price to be paid therefore upon exercise of the Option. 

Article VI. Duration of the Plan  

        6.1   Duration of the Plan. The Plan shall be in effect until January 31, 2011 unless extended by the Company's
shareholders. Any Options outstanding at the end of said period shall remain in effect in accordance with their terms. The Plan shall terminate before the end of said period, if all Stock subject to
it has been purchased pursuant to the exercise of Options granted under the Plan. 

Article VII. Terms of Stock Options  

        7.1   Grant of Options. Subject to section 5.1, Options may be granted to Employees or Consultants at any time and from
time to time as determined by the Board; provided, however, that Consultants may receive only Nonstatutory Options, and may not receive Incentive Stock Options. The Board shall have complete
discretion in determining the number of Options granted to each Optionee. In making such determinations, the Board may take into account the nature of services rendered by such Employees or
Consultants, their present and potential contributions to the Company, and such other factors as the Board in its discretion shall deem relevant. The Board also shall determine whether an Option is to
be an Incentive Stock Option or a Nonstatutory Option. 

        In
the case of Incentive Stock Options the total Fair Market Value (determined at the date of grant) of shares of Stock with respect to which incentive stock options are exercisable for
the first time by the Optionee during any calendar year under all plans of the Company under which incentive stock options may be granted (and all such plans of any Parent Corporations and any
subsidiary corporations of the Company) shall not exceed $100,000. (Hereinafter, this requirement is sometimes referred to as the "$100,000 Limitation.") 

        Nothing
in this Article VII shall be deemed to prevent the grant of Options permitting exercise in excess of the maximums established by the preceding paragraph where such excess
amount is treated as a Nonstatutory Option. 

        The
Board is expressly given the authority to issue amended or replacement Options with respect to shares of Stock subject to an Option previously granted hereunder. An amended Option
amends the terms of an Option previously granted (including an extension of the terms of such Option) and thereby supersedes the previous Option. A replacement Option is similar to a new Option
granted hereunder except that it provides that it shall be forfeited to the extent that a previously granted Option is exercised, or except that its issuance is conditioned upon the termination of a
previously granted Option. 

        7.2   No Tandem Options. Where an Option granted under the Plan is intended to be an Incentive Stock Option, the Option shall
not contain terms pursuant to which the exercise of the Option would affect the Optionee's right to exercise another Option, or vice versa, such that the Option intended to be an Incentive Stock
Option would be deemed a tandem stock option within the meaning of the regulations under section 422A of the Code. 

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        7.3   Option Agreement; Terms and Conditions to Apply Unless Otherwise Specified. As determined by the Board on the date of
grant, each Option shall be evidenced by an Option agreement (the "Option Agreement") that includes the nontransferability provisions required by section 10.2 hereof and specifies: whether the
Option is an Incentive Stock Option or a Nonstatutory Option; the Option price; the term (duration) of the Option; the number of shares of Stock to which the Option applies; any vesting or
exercisability restrictions which the Board may impose; in the case of an Incentive Stock Option, a provision implementing the $100,000 Limitation; and any other terms or conditions which the Board
may impose. All such terms and conditions shall be determined by the Board at the time of grant of the Option. 

        If
not otherwise specified by the Board, the following terms and conditions shall apply to Options granted under the Plan: 

        (a)   Term. The Option shall be exercisable to purchase Stock for a period of ten years from the date of grant, as
evidenced by the execution date of the Option Agreement. 

        (b)   Exercise of Option. Unless an Option is terminated as provided hereunder, an Optionee may exercise his Option for up to,
but not in excess of, the number of shares of Stock subject to the Option specified below, based on the Optionee's number of years of continuous service with the Company from the date on which
the Option is granted. In the case of an Optionee who is an Employee, continuous service shall mean continuous employment; in the case of an Optionee who is a Consultant, continuous service shall mean
the continuous provision of consulting services. In applying said limitations, the amount of shares, if any, previously purchased by the Optionee under the Option shall be counted in determining the
amount of shares the Optionee can purchase at any time. The Optionee may exercise his Option in the following amounts: 

	(i)
	After
one (1) year of continuous services to the Company, the Optionee may purchase up to 25% of the shares of Stock subject to the Option;

	(ii)
	After
two (2) years of continuous services to the Company, the Optionee may purchase up to 50% of the shares of Stock subject to the Option;

	(iii)
	After
three years (3) of continuous services to the Company, the Optionee may purchase up to 75% of the shares of Stock subject to the Option.

	(iv)
	After
four years (4) of continuous services to the Company, the Optionee may purchase up to 100% of the shares of Stock subject to the Option. 

        The
Board may specify terms and conditions other than those set forth above, in its discretion. 

        All
Option Agreements shall incorporate the provisions of the Plan by reference, with certain provisions to apply depending upon whether the Option Agreement applies to an Incentive
Stock Option or to a Nonstatutory Option. 

        7.4   Option Price. No Incentive Stock Option granted pursuant to this Plan shall have an Option price that is less than the
Fair Market Value of the Stock on the date the Option is granted. Incentive Stock Options granted to Significant Stockholders shall have an Option price of not less than 110 percent of the Fair
Market Value of the Stock on the date of grant. The Option price for Nonstatutory Options shall be established by the Board and shall not be less than 100 percent of the Fair Market Value of
the Stock on the date of grant. 

        7.5   Term of Options. Each Option shall expire at such time as the Board shall determine, provided, however, that no Option
shall be exercisable later than ten years from the date of its grant. 

        7.6   Exercise of Options. Options granted under the Plan shall be exercisable at such times and be subject to such
restrictions and conditions as the Board shall in each instance approve, which need not be the same for all Optionees. 

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        7.7   Payment. Payment for all shares of Stock shall be made at the time that an Option, or any part thereof, is exercised, and
no shares shall be issued until full payment has been made. Payment shall be made (i) in cash or certified funds, or (ii) if acceptable to the Board, in Stock or in some other form;
provided, however, in the case of an Incentive Stock Option, that said other form of payment does not prevent the Option from qualifying for treatment as an Incentive Stock Option within the meaning
of the Code. 

Article VIII. Written Notice, Issuance of

Stock Certificates, Stockholder Privileges  

        8.1   Written Notice. An Optionee wishing to exercise an Option shall give written notice to the Company, in the form and
manner prescribed by the Board. Full payment for the shares exercised pursuant to the Option must accompany the written notice. 

        8.2   Issuance of Stock Certificates. As soon as practicable after the receipt of written notice and payment, the Company shall
deliver to the Optionee or to a nominee of the Optionee a certificate or certificates for the requisite number of shares of Stock. 

        8.3   Privileges of a Stockholder. An Optionee or any other person entitled to exercise an Option under this Plan shall not
have stockholder privileges with respect to any Stock covered by the Option until the date of issuance of a stock certificate for such stock. 

Article IX. Termination of Employment or Services  

        Except as otherwise expressly specified by the Board for Nonstatutory Options, all Options granted under this Plan shall be subject to the following termination
provisions: 

        9.1   Death. If an Optionee's employment in the case of an Employee, or provision of services as a Consultant, in the case of a
Consultant, terminates by reason of death, the Option may thereafter be exercised at any time prior to the expiration date of the Option or within 12 months after the date of such death,
whichever period is the shorter, by the person or persons entitled to do so under the Optionee's will or, if the Optionee shall fail to make a testamentary disposition of an Option or shall die
intestate, the Optionee's legal representative or representatives. The Option shall be exercisable only to the extent that such Option was exercisable as of the date of Optionee's death. 

        9.2   Termination Other Than For Cause or Due to Death. In the event of an Optionee's termination of employment, in the case of
an Employee, or termination of the provision of services as a Consultant, in the case of a Consultant, other than by reason of death, the Optionee may exercise such portion of his Option as was
exercisable by him at the date of such termination (the "Termination Date") at any time within three (3) months of the Termination Date; provided, however, that where the Optionee is an
Employee, and is terminated due to disability within the meaning of Code section 422A, he may exercise such portion of his Option as was exercisable by him on his Termination Date within one
year of his Termination Date. In any event, the Option cannot be exercised after the expiration of the term of the Option. Options not exercised within the applicable period specified above shall
terminate. 

        In
the case of an Employee, a change of duties, or position within the Company, shall not be considered a termination of employment for purposes of this Plan. The Option Agreements may
contain such provisions as the Board shall approve with reference to the effect of approved leaves of absence upon termination of employment. 

        9.3   Termination for Cause. In the event of an Optionee's termination of employment, in the case of an Employee, or
termination of the provision of services as a Consultant, in the case of a Consultant, which termination is by the Company for cause, any Option or Options held by him under the Plan, to the extent
not exercised before such termination, shall forthwith terminate. 

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Article X. Rights of Optionees  

        10.1 Service. Nothing in this Plan shall interfere with or limit in any way the right of the Company to terminate any
Employee's employment, or any Consultant's services, at any time, nor confer upon any Employee any right to continue in the employ of the Company, or upon any Consultant any right to continue to
provide services to the Company. 

        10.2 Nontransferability. Except as otherwise specified by the Board for Nonstatutory Options, Options granted under this Plan
shall be nontransferable by the Optionee, other than by will or the laws of descent and distribution, and shall be exercisable during the Optionee's lifetime only by the Optionee. 

Article XI. Optionee-Employee's

Transfer or Leave of Absence  

        11.1 Optionee-Employee's Transfer or Leave of Absence. For Plan purposes: 

        (a)   A
transfer of an Optionee who is an Employee within the Company, or 

        (b)   a
leave of absence for such an Optionee (i) which is duly authorized in writing by the Company, and (ii) if the Optionee holds an Incentive Stock Option,
which qualifies under the applicable regulations under the Code which apply in the case of Incentive Stock Options, 

shall
not be deemed a termination of employment. However, under no circumstances may an Optionee exercise an Option during any leave of absence, unless authorized by the Board. 

Article XII. Amendment, Modification

and Termination of the Plan  

        12.1 Amendment, Modification, and Termination of the Plan. The Board may at any time terminate, and from time to time may
amend or modify the Plan, provided, however, that no such action of the Board, without approval of the stockholders, may: 

        (a)   increase
the total amount of Stock which may be purchased through Options granted under the Plan, except as provided in Article V; 

        (b)   change
the class of Employees or Consultants eligible to receive Options; 

No
amendment, modification or termination of the Plan shall in any manner adversely affect any outstanding Option under the Plan without the consent of the Optionee holding the Option. 

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Article XIII. Acquisition, Merger and Liquidation  

        13.1 Acquisition. In the event that an Acquisition occurs with respect to the Company, the Company shall have the option, but
not the obligation, to cancel Options outstanding as of the effective date of Acquisition, whether or not such Options are then exercisable, in return for payment to the Optionees of an amount equal
to a reasonable estimate of an amount (hereinafter the "Spread") equal to the difference between the net amount per share of Stock payable in the Acquisition, or as a result of the Acquisition, less
the exercise price of the Option. In estimating the Spread, appropriate adjustments to give effect to the existence of the Options shall be made, such as deeming the Options to have been exercised,
with the Company receiving the exercise price payable thereunder, and treating the shares receivable upon exercise of the Options as being outstanding in determining the net amount per share. For
purposes of this section, an "Acquisition" shall mean any transaction in which substantially all of the Company's assets are acquired or in which a controlling amount of the Company's outstanding
shares are acquired, in each case by a single person or entity or an affiliated group of persons and/or entities. For purposes of this section a controlling amount shall mean more than 50% of
the issued and outstanding shares of stock of the Company. The Company shall have such an option regardless of how the Acquisition is effectuated, whether by direct purchase, through a merger or
similar corporate transaction, or otherwise. In cases where the acquisition consists of the acquisition of assets of the Company, the net amount per share shall be calculated on the basis of the net
amount receivable with respect to shares upon a distribution and liquidation by the Company after giving effect to expenses and charges, including but not limited to taxes, payable by the Company
before the liquidation can be completed. 

        Where
the Company does not exercise its option under this section 13.1, the remaining provisions of this Article XIII shall apply, to the extent applicable. 

        13.2 Merger or Consolidation. Subject to any required action by the stockholders, if the Company shall be the surviving
corporation in any merger or consolidation, any Option granted hereunder shall pertain to and apply to the securities to which a holder of the number of shares of Stock subject to the Option would
have been entitled in such merger or consolidation. 

        13.3 Other Transactions. A dissolution or a liquidation of the Company or a merger and consolidation in which the Company is
not the surviving corporation shall cause every Option outstanding hereunder to terminate as of the effective date of such dissolution, liquidation, merger or consolidation. However, the Optionee
either (i) shall be offered a firm commitment whereby the resulting or surviving corporation in a merger or consolidation will tender to the Optionee an option (the "Substitute Option") to
purchase its shares on terms and conditions both as to number of shares and otherwise, which will substantially preserve to the Optionee the rights and benefits of the Option outstanding hereunder
granted by the Company, or (ii) shall have the right immediately prior to such dissolution, liquidation, merger, or consolidation to exercise any unexercised Options whether or not then
exercisable, subject to the provisions of this Plan. The Board shall have absolute and uncontrolled discretion to determine whether the Optionee has been offered a firm commitment and whether the
tendered Substitute Option will substantially preserve to the Optionee the rights and benefits of the Option outstanding hereunder. In any event, any Substitute Option for an Incentive Stock Option
shall comply with the requirements of Code section 425(a). 

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Article XIV. Securities Registration  

        14.1 Securities Registration. In the event that the Company shall deem it necessary or desirable to register under the
Securities Act of 1933, as amended, or any other applicable statute, any Options or any Stock with respect to which an Option may be or shall have been granted or exercised, or to qualify any such
Options or Stock under the Securities Act of 1933, as amended, or any other statute, then the Optionee shall cooperate with the Company and take such action as is necessary to permit registration or
qualification of such Options or Stock. 

        Unless
the Company has determined that the following representation is unnecessary, each person exercising an Option under the Plan may be required by the Company, as a condition to the
issuance of the shares pursuant to exercise of the Option, to make a representation in writing (a) that the Optionee is acquiring such shares for his own account for investment and not with a
view to, or for sale in connection with, the distribution of any part thereof, (b) that before any transfer in connection with the resale of such shares, the Optionee will obtain the written
opinion of counsel for the Company, or other counsel acceptable to the Company, that such shares may be transferred. The Company may also require that the certificates representing such shares contain
legends reflecting the foregoing. 

Article XV. Tax Withholding  

        15.1 Tax Withholding. Whenever shares of Stock are to be issued in satisfaction of Options exercised under this Plan, the
Company shall have the power to require the recipient of the Stock to remit to the Company an amount sufficient to satisfy federal, state and local withholding tax requirements. 

Article XVI. Indemnification  

        16.1 Indemnification. To the extent permitted by law, each person who is or shall have been a member of the Board shall be
indemnified and held harmless by the Company against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him in connection with or resulting from any
claim, action, suit, or proceeding to which he may be a party or in which he may be involved by reason of any action taken or failure to act under the Plan and against and from any and all amounts
paid by him in settlement thereof, with the Company's approval, or paid by him in satisfaction of judgment in any such action, suit or proceeding against him, provided he shall give the Company an
opportunity, at its own expense, to handle and defend the same before he undertakes to handle and defend it on his own behalf. The foregoing right of indemnification shall not be exclusive of any
other rights of indemnification to which such persons may be entitled under the Company's articles of incorporation or bylaws, as a matter of law, or otherwise, or any power that the Company may have
to indemnify them or hold them harmless. 

Article XVII. Requirements of Law  

        17.1 Requirements of Law. The granting of Options and the issuance of shares of Stock upon the exercise of an Option shall be
subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 

        17.2 Governing Law. The Plan and all agreements hereunder shall be construed in accordance with and governed by the laws of
the State of Arizona. 

Article XVIII. Effective Date of Plan  

        18.1 Effective Date. The Plan shall be effective on October 1, 2004. 

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Article XIX. Compliance with Code  

        19.1 Compliance with Code. Incentive Stock Options granted hereunder are intended to qualify as Incentive Stock Options under
Code section 422A. If any provision of this Plan is susceptible to more than one interpretation, such interpretation shall be given thereto as is consistent with Incentive Stock Options granted
under this Plan being treated as Incentive Stock Options under the Code. 

Article XX. No Obligation to Exercise Option  

        20.1 No Obligation to Exercise. The granting of an Option shall impose no obligation upon the holder thereof to exercise such
Option. 

        Dated
at Tempe, Arizona, October 1, 2004. 

	

 	
 	

NATIONWIDE FINANCIAL SOLUTIONS, INC.
	

 	
 	

By:	
 	

 Darren Dierich, Chief Financial Officer

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Exhibit 10.03  

 
 

AGREEMENT
  CONCERNING THE EXCHANGE OF SECURITIES
  BY AND AMONG
  NB ACQUISITIONS, INC.
  AND
  NATIONAL INTEREST SOLUTIONS, INC. AND
  THE SECURITY HOLDERS OF NATIONAL INTEREST SOLUTIONS,
 INC.    
    

   INDEX  

	 
	 	 
	 
	 	Page

	

ARTICLE I—EXCHANGE OF SECURITIES	
 	

1
	1.1	 	—	Issuance of Securities	 	1
	1.2	 	—	Corporate Action by NB	 	1
	1.3	 	—	Exemption from Registration	 	1
	

ARTICLE II—REPRESENTATIONS AND WARRANTIES OF NIS	
 	

2
	2.1	 	—	Organization	 	2
	2.2	 	—	Capital	 	2
	2.3	 	—	Subsidiaries	 	2
	2.4	 	—	Directors and Officers	 	2
	2.5	 	—	Financial Statements	 	2
	2.6	 	—	Absence of Changes	 	2
	2.7	 	—	Absence of Undisclosed Liabilities	 	2
	2.8	 	—	Tax Returns	 	2
	2.9	 	—	Investigation of Financial Condition	 	2
	2.10	 	—	Proprietary Rights	 	2
	2.11	 	—	Compliance with Laws	 	2
	2.12	 	—	Litigation	 	2
	2.13	 	—	Authority	 	3
	2.14	 	—	Ability to Carry Out Obligations	 	3
	2.15	 	—	Full Disclosure	 	3
	2.16	 	—	Assets	 	3
	2.17	 	—	Material Contracts	 	3
	2.18	 	—	Indemnification	 	3
	2.19	 	—	Criminal or Civil Acts	 	3
	2.20	 	—	Restricted Securities	 	3
	

ARTICLE III—REPRESENTATIONS AND WARRANTIES OF NB.	
 	

4
	3.1	 	—	Organization	 	4
	3.2	 	—	Capital	 	4
	3.3	 	—	Subsidiaries	 	4
	3.4	 	—	Directors and Officers	 	4
	3.5	 	—	Financial Statements	 	4
	3.6	 	—	Absence of Changes	 	4
	3.7	 	—	Absence of Undisclosed Liabilities	 	4
	3.8	 	—	Tax Returns	 	4
	3.9	 	—	Investigation of Financial Condition	 	4
	3.10	 	—	Proprietary Rights	 	4
	3.11	 	—	Compliance with Laws	 	4
	3.12	 	—	Litigation	 	5
	3.13	 	—	Authority	 	5
	3.14	 	—	Ability to Carry Out Obligations	 	5
	3.15	 	—	Full Disclosure	 	5
	3.16	 	—	Assets	 	5
	3.17	 	—	Material Contracts	 	5
	3.18	 	—	Indemnification	 	5
	3.19	 	—	Criminal or Civil Acts	 	5
	 	 	 	 	 	 

ii

 

	

ARTICLE IV—COVENANTS PRIOR TO THE CLOSING DATE	
 	

5
	4.1	 	—	Investigative Rights	 	5
	4.2	 	—	Conduct of Business	 	6
	

ARTICLE V —CONDITIONS PRECEDENT TO NB'S PERFORMANCE	
 	

6
	5.1	 	—	Conditions	 	6
	5.2	 	—	Accuracy of Representations	 	6
	5.3	 	—	Performance	 	6
	5.4	 	—	Absence of Litigation	 	6
	5.5	 	—	Officer's Certificate	 	6
	5.6	 	—	Corporate Action	 	6
	

ARTICLE VI—CONDITIONS PRECEDENT TO NIS'S PERFORMANCE	
 	

6
	6.1	 	—	Conditions	 	6
	6.2	 	—	Accuracy of Representations	 	7
	6.3	 	—	Performance	 	7
	6.4	 	—	Absence of Litigation	 	7
	6.5	 	—	Officer's Certificate	 	7
	6.6	 	—	Directors of NB.	 	7
	6.7	 	—	Officers of NB.	 	7
	6.8	 	—	Corporate Action	 	7
	

ARTICLE VII—CLOSING	
 	

7
	7.1	 	—	Closing	 	7
	

ARTICLE VIII—MISCELLANEOUS	
 	

7
	8.1	 	—	Captions and Headings	 	7
	8.2	 	—	No Oral Change	 	8
	8.3	 	—	Non-Waiver	 	8
	8.4	 	—	Time of Essence	 	8
	8.5	 	—	Entire Agreement	 	8
	8.6	 	—	Choice of Law	 	8
	8.7	 	—	Counterparts	 	8
	8.8	 	—	Notices	 	8
	8.9	 	—	Binding Effect	 	8
	8.10	 	—	Mutual Cooperation	 	8
	8.11	 	—	Finders	 	8
	8.12	 	—	Announcements	 	8
	8.13	 	—	Expenses	 	8
	8.14	 	—	Survival of Representations and Warrantiesp	 	8
	8.15	 	—	Exhibits	 	9
	8.16	 	—	Legal Counsel	 	9
	 	 	 	Signatures	 	9

EXHIBITS  

	Allocation of Securities	 	Exhibit 1.1
	Subscription Agreement	 	Exhibit 1.2
	Financial Statements of NIS	 	Exhibit 2.5
	Financial Statements of NB	 	Exhibit 3.5

iii

AGREEMENT  

        AGREEMENT made this    day of March, 2004, by and between NB ACQUISITIONS, INC., a Nevada corporation ("NB"), NATIONAL INTEREST
SOLUTIONS, INC., an Arizona corporation ("NIS") and the security holders of NIS (the "NIS Security Holders") who are listed on Exhibit 1.1 hereto and have executed Subscription
Agreements in the form attached in Exhibit 1.2, hereto. 

        WHEREAS,
NB desires to acquire all of the issued and outstanding common stock of NIS from the NIS Security Holders in exchange for 9,000,000 newly issued unregistered shares of common
stock of NB; 

        WHEREAS,
NIS desires to assist NB in acquiring all of the issued and outstanding common stock of NIS pursuant to the terms of this Agreement; and 

        WHEREAS,
all of the NIS Security Holders, by execution of Exhibit 1.2 hereto, agree to exchange all 100,000 shares of their outstanding common stock for 9,000,000 common shares of
NB. 

        NOW,
THEREFORE, in consideration of the mutual promises, covenants and representations contained herein, THE PARTIES HERETO AGREE AS FOLLOWS: 

ARTICLE I

Exchange of Securities  

        1.1   Issuance of Securities. Subject to the terms and conditions of this Agreement, NB agrees to issue and exchange 9,000,000
unregistered shares of its $.0001 par value common stock (the "NB Shares") for all 100,000 shares of the no par value common stock of NIS (the "NIS Shares") held by the NIS Security Holders on the
closing date of the Agreement (the "Closing Date"). The NB shares include an aggregate of up to 750,000 shares issuable to Pursuit Venture Group, LLC ("Pursuit") upon conversion of promissory notes in
the aggregate amount of up to $750,000 issued by NIS to Pursuit. If the aggregate amounts of the promissory notes are less than $750,000, then the number of NB shares will be reduced accordingly. All
NB common stock will be issued directly to the NIS Security Holders or to Pursuit on the Closing Date, pursuant to the schedule set forth in Exhibit 1.1. 

        1.2   Corporate Action by NB. Prior to the Closing Date, NB will change its name to Nationwide Financial Solutions, Inc.
Accordingly, following the issuance of 9,000,000 shares of NB to the NIS Security Holders and Pursuit, the ownership of NB shall be as follows: 

	Shares held by NB public stockholders shares prior to the Closing Date	 	72,783 shares
	Shares held by NB principal stockholders(1)	 	927,245 shares
	Shares issuable or reserved for issuance to Pursuit upon conversion of Pursuit's promissory notes(2)	 	750,000 shares
	Shares issuable to the NIS Security Holders	 	8,249,972 shares
	 	 	

	TOTAL	 	10,000,000 shares

	(1)
	Represents
811,339 shares held by William Luke and 115,906 shares held by William L. Mullins.

	(2)
	Assumes
an aggregate of 750,000 shares issuable upon conversion of $750,000 of promissory notes held by Pursuit. Any such shares not required for conversion will be retained as
unissued common stock. NB has agreed to register the 750,000 shares with Securities and Exchange Commission within 45 days from the Closing Date. 

        1.3   Exemption from Registration. The parties hereto intend that all NB common stock to be issued to the NIS Security Holders
shall be exempt from the registration requirements of the Securities Act of 1933, as amended (the "Act"), pursuant to Section 4(2) of the Act and the rules and regulations promulgated
thereunder. In furtherance thereof, each of the NIS Security Holders will execute and deliver to NB on the Closing Date a copy of the Subscription Agreement set forth in Exhibit 1.2 hereto. 

 

ARTICLE II

Representations and Warranties of NIS  

        NIS hereby represents and warrants to NB that: 

        2.1   Organization. NIS is a corporation duly organized, validly existing and in good standing under the laws of Arizona, has
all necessary corporate powers to own its properties and to carry on its business as now owned and operated by it, and is duly qualified to do business and is in good standing in each of the states
where its business requires qualification. 

        2.2   Capital. The authorized capital stock of NIS consists of 100,000 authorized shares of no par value common stock of which
100,000 shares are outstanding. There are no shares of preferred stock authorized or outstanding. All of the outstanding common stock of NIS is duly and validly issued, fully paid and nonassessable.
There are no outstanding subscriptions, options, rights, warrants, debentures, instruments, convertible securities or other agreements or commitments obligating NIS to issue or to transfer from
treasury any additional shares of its capital stock of any class. 

        2.3   Subsidiaries. NIS does not have any subsidiaries or own any interest in any other enterprise. 

        2.4   Directors and Officers. The names and titles of the directors and officers of NIS are as follows: Stephen Luke, Chief
Executive Officer, President and Director; and Darren Dierich, Chief Financial Officer, Secretary and Director. 

        2.5   Financial Statements. Exhibit 2.5 hereto consists of the unaudited financial statements of NIS for the year ended
December 31, 2003 (the "NIS Financial Statements"). The NIS Financial Statements have been prepared in accordance with generally accepted accounting principles and practices consistently
followed by NIS throughout the period indicated, and fairly present the financial position of NIS as of the date of the balance sheets included in the NIS Financial Statements and the results of
operations for the period indicated. 

        2.6   Absence of Changes. Since December 31, 2003, there has not been any material change in the financial condition or
operations of NIS, except as contemplated by this Agreement. 

        2.7   Absence of Undisclosed Liabilities. As of December 31, 2003, NIS did not have any material debt, liability or
obligation of any nature, whether accrued, absolute, contingent or otherwise, and whether due or to become due, that was not reflected in the NIS Financial Statements. 

        2.8   Tax Returns. NIS has filed all federal, state and local tax returns required by law and has paid all taxes, assessments
and penalties due and payable. The provisions for taxes, if any, reflected in Exhibit 2.5 are adequate for the periods indicated. There are no present disputes as to taxes of any nature payable
by NIS. 

        2.9   Investigation of Financial Condition. Without in any manner reducing or otherwise mitigating the representations
contained herein, NB, its legal counsel and accountants shall have the opportunity to meet with NIS's accountants and attorneys to discuss the financial condition of NIS. NIS shall make available to
NB all books and records of NIS. 

        2.10 Proprietary Rights. NIS owns all necessary trademarks, service marks, trade names, copyrights, patents and proprietary
information necessary to conduct its business. 

        2.11 Compliance with Laws. NIS has complied with, and is not in violation of, applicable federal, state or local statutes,
laws and regulations, including federal and state securities laws. 

2

 

        2.12 Litigation. NIS is not a defendant in any suit, action, arbitration or legal, administrative or other proceeding, or
governmental investigation which is pending or, to the best knowledge of NIS, threatened against or affecting NIS or its business, assets or financial condition. NIS is not in default with respect to
any order, writ, injunction or decree of any federal, state, local or foreign court, department, agency or instrumentality applicable to it. NIS is not engaged in any material litigation to recover
monies due to it. 

        2.13 Authority. The Board of Directors of NIS has authorized the execution of this Agreement and the consummation of the
transactions contemplated herein, and NIS has full power and authority to execute, deliver and perform this Agreement, and this Agreement is a legal, valid and binding obligation of NIS and is
enforceable in accordance with its terms and conditions. By execution of Exhibit 1.2, all of the NIS Security Holders have agreed to and have approved the terms of this Agreement. 

        2.14 Ability to Carry Out Obligations. The execution and delivery of this Agreement by NIS and the performance by NIS of its
obligations hereunder in the time and manner contemplated will not cause, constitute or conflict with or result in (a) any breach or violation of any of the provisions of or constitute a
default under any license, indenture, mortgage, instrument, article of incorporation, bylaw, or other agreement or instrument to which NIS is a party, or by which it may be bound, nor will any
consents or authorizations of any party other than those hereto be required, (b) an event that would permit any party to any agreement or instrument to terminate it or to accelerate the
maturity of any indebtedness or other obligation of NIS, or (c) an event that would result in the creation or imposition of any lien, charge or encumbrance on any asset of NIS. 

        2.15 Full Disclosure. None of the representations and warranties made by NIS herein or in any exhibit, certificate or
memorandum furnished or to be furnished by NIS, or on its behalf, contains or will contain any untrue statement of material fact or omit any material fact the omission of which would be misleading. 

        2.16 Assets. NIS's assets are fully included in Exhibit 2.5 and are not subject to any claims or encumbrances except
as indicated in Exhibit 2.5 

        2.17 Material Contracts. NIS does not have any material contracts. 

        2.18 Indemnification. NIS agrees to indemnify, defend and hold NB harmless against and in respect of any and all claims,
demands, losses, costs, expenses, obligations, liabilities, damages, recoveries and deficiencies, including interest, penalties and reasonable attorney fees, that it shall incur or suffer, which arise
out of, or result from (i) any breach by NIS in performing any of its covenants or agreements under this Agreement or in any schedule, certificate, exhibit or other instrument furnished or to
be furnished by NIS under this Agreement or (ii) any untrue statement made by NIS in this Agreement. 

        2.19 Criminal or Civil Acts. For the period of five years prior to the execution of this Agreement, no executive
officer, director or principal stockholder of NIS has been convicted of a felony crime, filed for personal bankruptcy, been the subject of a Commission or NASD judgment or decree, or is currently the
subject to any investigation in connection with a felony crime or Commission or NASD proceeding. 

        2.20 Restricted Securities. NIS and the NIS Security Holders, by execution of this Agreement and of Exhibit 1.2,
acknowledge that all of the NB Shares and options to be issued by NB will be restricted securities and none of such securities may be sold or publicly traded except in accordance with the provisions
of the Act. 

3

 
ARTICLE III

Representations and Warranties of NB  

        NB represents and warrants to NIS that: 

        3.1   Organization. NB is a corporation duly organized, validly existing and in good standing under the laws of Nevada, has all
necessary corporate powers to carry on its business, and is duly qualified to do business and is in good standing in each of the states where its business requires qualification. 

        3.2   Capital. The authorized capital stock of NB on the Closing Date will consist of 60,000,000 shares of $.0001 par value
common stock and 10,000,000 shares of $.0001 par value preferred stock, of which 10,000,000 shares of common stock (less any shares reserved for issuance under Pursuit's promissory notes) will be
issued and outstanding on the Closing Date and no shares of preferred stock will be outstanding. All of NB's outstanding securities are duly and validly issued, fully paid and nonassessable. There are
no outstanding subscriptions, options, rights, warrants, debentures, instruments, convertible securities or other agreements or commitments obligating NB to issue or to transfer from treasury any
additional shares of its capital stock of any class except 1,000,028 Class A, 1,000,028 Class B, 1,000,028 Class C, 1,000,028 Class D, 1,000,028 Class E and
1,000,028 Class F common stock purchase warrants exercisable at any time until December 31, 2004, December 31, 2004, June 30, 2005, June 30, 2005,
December 31, 2007 and December 31, 2007, respectively, to purchase common stock of NB at $2.00, $2.00, $4.00, $4.00, $6.00 and $6.00 per share, respectively. 

        3.3   Subsidiaries. NB has no subsidiaries. 

        3.4   Directors and Officers. The names and titles of the directors and officers of NB are as follows: Jack D. Kelley,
President and Director; Derold L. Kelley, Vice President and Treasurer; and James A. Eller, Secretary. 

        3.5   Financial Statements. Exhibit 3.5 hereto consists of the audited financial statements of NB for the year ended
December 31, 2003 (the "NB Financial Statements"). The NB Financial Statements have been prepared in accordance with generally accepted accounting principles and practices consistently followed
by NB throughout the period indicated, and fairly present the financial position of NB as of the date of the balance sheets included in the NB Financial Statements and the results of operations for
the period indicated. 

        3.6   Absence of Changes. Since December 31, 2003, there has not been any material change in the financial condition or
operations of NB, except as contemplated by this Agreement. 

        3.7   Absence of Undisclosed Liabilities. As of December 31, 2003, NB did not have any material debt, liability or
obligation of any nature, whether accrued, absolute, contingent or otherwise, and whether due or to become due, that was not reflected in the NB Financial Statements. 

        3.8   Tax Returns. Within the times and in the manner prescribed by law, NB has filed all federal, state and local tax returns
required by law and has paid all taxes, assessments and penalties due and payable. 

        3.9   Investigation of Financial Condition. Without in any manner reducing or otherwise mitigating the representations
contained herein, NIS, its legal counsel and accountants shall have the opportunity to meet with NB's accountants and attorneys to discuss the financial condition of NB. NB shall make available to NIS
all books and records of NB. 

        3.10 Proprietary Rights. NB does not have any patents, trademarks, service marks, trade names or copyrights. 

4

 

        3.11 Compliance with Laws. NB has complied with, and is not in violation of, applicable federal, state or local statutes,
laws or regulations including federal and state securities laws. NB is current with all filings required by the Securities and Exchange Commission and, to its best knowledge, all the information set
forth in such filings is materially accurate and not omissive. 

        3.12 Litigation. NB is not a defendant in any suit, action, arbitration, or legal, administrative or other proceeding, or
governmental investigation which is pending or, to the best knowledge of NB, threatened against or affecting NB or its business, assets or financial condition. NB is not in default with respect to any
order, writ, injunction or decree of any federal, state, local or foreign court, department, agency or instrumentality applicable to it. NB is not engaged in any material litigation to recover monies
due to it. 

        3.13 Authority. The Board of Directors of NB has authorized the execution of this Agreement and the transactions contemplated
herein, and NB has full power and authority to execute, deliver and perform this Agreement, and this Agreement is the legal, valid and binding obligation of NB, and is enforceable in accordance with
its terms and conditions. 

        3.14 Ability to Carry Out Obligations. The execution and delivery of this Agreement by NB and the performance by NB of its
obligations hereunder will not cause, constitute or conflict with or result in (a) any breach or violation of any of the provisions of or constitute a default under any license, indenture,
mortgage, instrument, article of incorporation, bylaw or other agreement or instrument to which NB is a party, or by which it may be bound, nor will any consents or authorization of any party other
than those hereto be required, (b) an event that would permit any party to any agreement or instrument to terminate it or to accelerate the maturity of any indebtedness or other obligation of
NB, or (c) an event that would result in the creation or imposition of any lien, charge or encumbrance on any asset of NB. 

        3.15 Full Disclosure. None of the representations and warranties made by NB herein, or in any exhibit, certificate or
memorandum furnished or to be furnished by NB or on its behalf, contains or will contain any untrue statement of material fact or omit any material fact the omission of which would be misleading. 

        3.16 Assets. On the Closing Date, NB has no assets or liabilities. 

        3.17 Material Contracts. NB has no material contracts. 

        3.18 Indemnification. NB agrees to indemnify, defend and hold NIS harmless against and in respect of any and all claims,
demands, losses, costs, expenses, obligations, liabilities, damages, recoveries and deficiencies, including interest, penalties, and reasonable attorney fees, that it shall incur or suffer, which
arise out of, or result from (i) any breach by NB in performing any of its covenants or agreements in this Agreement or in any schedule, certificate, exhibit or other instrument furnished or to
be furnished by NB under this Agreement, or (ii) any untrue statement made by NB in this Agreement. 

        3.19 Criminal or Civil Acts. For a period of five years prior to the execution of this Agreement, no executive
officer, director or principal stockholder of NB has been convicted of a felony crime, filed for personal bankruptcy, been the subject of a Commission or NASD judgment or decree, or is currently the
subject to an investigation in connection with any felony crime or Commission or NASD proceeding. 

5

 

ARTICLE IV

Covenants Prior to the Closing Date  

        4.1   Investigative Rights. Prior to the Closing Date, each party shall provide to the other party, and such other party's
counsel, accountants, auditors and other authorized representatives, full access during normal business hours and upon reasonable advance written notice to all of each party's properties,
books, contracts, commitments and records for the purpose of examining the same. Each party shall furnish the other party with all information concerning each party's affairs as the other party may
reasonably request. 

        4.2   Conduct of Business. Prior to the Closing Date, each party shall conduct its business in the normal course and shall not
sell, pledge or assign any assets without the prior written approval of the other party, except in the normal course of business. Neither party shall amend its Certificate or Articles of Incorporation
or Bylaws (except as may be described in this Agreement), declare dividends, redeem or sell stock or other securities, incur additional or newly-funded liabilities, acquire or dispose of fixed assets,
change employment terms, enter into any material or long-term contract, guarantee obligations of any third party, settle or discharge any balance sheet receivable for less than its stated
amount, pay more on any liability than its stated amount, or enter into any other transaction other than in the normal course of business. Neither party shall enter into negotiations with any third
party or complete any transaction with a third party involving the sale of any of its assets or the exchange of any of its common stock. 

ARTICLE V

Conditions Precedent to NB's Performance  

        5.1   Conditions. NB's obligations hereunder shall be subject to the satisfaction at or before the Closing of all the
conditions set forth in this Article V. NB may waive any or all of these conditions in whole or in part without prior notice; provided, however, that no such waiver of a condition shall
constitute a waiver by NB of any other condition of or any of NB's other rights or remedies, at law or in equity, if NIS shall be in default of any of its representations, warranties or covenants
under this Agreement. 

        5.2   Accuracy of Representations. Except as otherwise permitted by this Agreement, all representations and warranties by NIS
in this Agreement or in any written statement that shall be delivered to NB by NIS under this Agreement shall be true and accurate on and as of the Closing Date as though made at that time. 

        5.3   Performance. NIS shall have performed, satisfied and complied with all covenants, agreements and conditions required by
this Agreement to be performed or complied with by it on or before the Closing Date. 

        5.4   Absence of Litigation. No action, suit or proceeding before any court or any governmental body or authority, pertaining
to the transaction contemplated by this Agreement or to its consummation, shall have been instituted or threatened against NIS on or before the Closing Date. 

        5.5   Officer's Certificate. NIS shall have delivered to NB a certificate dated the Closing Date signed by the Chief Executive
Officer of NIS certifying that each of the conditions specified in this Article has been fulfilled and that all of the representations set forth in Article II are true and correct as of
the Closing Date. 

        5.6   Corporate Action. NIS shall have obtained the approval of the NIS Security Holders for the transaction contemplated by
this Agreement. 

6

 

ARTICLE VI

Conditions Precedent to NIS's Performance  

        6.1   Conditions. NIS's obligations hereunder shall be subject to the satisfaction at or before the Closing of all the
conditions set forth in this Article VI. NIS may waive any or all of these conditions in whole or in part without prior notice; provided, however, that no such waiver of a condition shall
constitute a waiver by NIS of any other condition of or any of NIS's rights or remedies, at law or in equity, if NB shall be in default of any of its representations, warranties or covenants under
this Agreement. 

        6.2   Accuracy of Representations. Except as otherwise permitted by this Agreement, all representations and warranties by NB in
this Agreement or in any written statement that shall be delivered to NIS by NB under this Agreement shall be true and accurate on and as of the Closing Date as though made at that time. 

        6.3   Performance. NB shall have performed, satisfied and complied with all covenants, agreements and conditions required by
this Agreement to be performed or complied with by it on or before the Closing Date. 

        6.4   Absence of Litigation. No action, suit or proceeding before any court or any governmental body or authority, pertaining
to the transaction contemplated by this Agreement or to its consummation, shall have been instituted or threatened against NB on or before the Closing Date. 

        6.5   Officer's Certificate. NB shall have delivered to NIS a certificate dated the Closing Date signed by the Chief Executive
Officer of NB certifying that each of the conditions specified in this Article has been fulfilled and that all of the representations set forth in Article III are true and correct as of
the Closing Date. 

        6.6   Directors of NB. On the Closing Date, NB's directors shall elect the current directors of NIS to NB's Board of Directors
and shall themselves then resign as directors. 

        6.7   Officers of NB. On the Closing Date, the newly constituted Board of Directors of NB shall elect such officers of NB as
they shall determine. 

        6.8   Corporate Action. On or before the Closing Date, NB will take the corporate action described in Section 1.2,
above. 

ARTICLE VII

Closing  

        7.1   Closing. The Closing of this Agreement shall be held at the offices of Gary A. Agron, at any mutually agreeable time and
date (the "Closing Date") prior to March 31, 2004, unless extended by mutual agreement. At the Closing: 

	(a)
	NIS
shall deliver to NB copies of Exhibit 1.2 executed by all of the NIS Security Holders together with certificates representing all outstanding NIS securities duly endorsed
to NB;

	(b)
	NB
shall deliver to the NIS Security Holders an aggregate of 9,000,000 shares of its common stock pursuant to the computations set forth in Exhibit 1.1 hereto;

	(c)
	NB
shall deliver (i) the officer's certificate described in Section 6.5 and (ii) a signed consent and/or minutes of its directors approving this Agreement and
each matter to be approved under this Agreement;

	(d)
	NIS
shall deliver (i) the officer's certificate described in Section 5.5 and (ii) a signed consent and/or minutes of its shareholders and directors approving this
Agreement and each matter to be approved under this Agreement. 

7

 

ARTICLE VIII

Miscellaneous  

        8.1   Captions and Headings. The article and paragraph headings throughout this Agreement are for convenience and reference
only and shall not define, limit or add to the meaning of any provision of this Agreement. 

        8.2   No Oral Change. This Agreement and any provision hereof may not be waived, changed, modified or discharged orally, but
only by an agreement in writing signed by the party against whom enforcement of any such waiver, change, modification or discharge is sought. 

        8.3   Non-Waiver. The failure of any party to insist in any one or more cases upon the performance of any of the
provisions, covenants or conditions of this Agreement or to exercise any option herein contained shall not be construed as a waiver or relinquishment for the future of any such provisions, covenants
or conditions. No waiver by any party of one breach by another party shall be construed as a waiver with respect to any other subsequent breach. 

        8.4   Time of Essence. Time is of the essence of this Agreement and of each and every provision hereof. 

        8.5   Entire Agreement. This Agreement contains the entire Agreement and understanding between the parties hereto and
supersedes all prior agreements and understandings. 

        8.6   Choice of Law. This Agreement and its application shall be governed by the laws of the state of Arizona. 

        8.7   Counterparts. This Agreement may be executed simultaneously in one or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. 

        8.8   Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be
deemed to have been duly given on the date of service if served personally on the party to whom notice is to be given, or on the third day after mailing if mailed to the party to whom notice is to be
given, by first class mail, registered or certified, postage prepaid, and properly addressed as follows: 

	NB:	 	NB Acquisitions, Inc.

3410 W. Glendale Ave., Suite D

Phoenix, AZ 85051

Attn: Jack D. Kelley, President
	

NIS:	
 	

National Interest Solutions, Inc.

2120 West Guadalupe Road, Suite 13

Mesa, AZ 85202

Attn: Stephen Luke, Chief Executive Officer

        8.9   Binding Effect. This Agreement shall inure to and be binding upon the heirs, executors, personal representatives,
successors and assigns of each of the parties to this Agreement. 

        8.10 Mutual Cooperation. The parties hereto shall cooperate with each other to achieve the purpose of this Agreement and
shall execute such other and further documents and take such other and further actions as may be necessary or convenient to effect the transaction described herein. 

        8.11 Finders. There are no finders in connection with this transaction. 

        8.12 Announcements. The parties will consult and cooperate with each other as to the timing and content of any public
announcements regarding this Agreement. 

8

 

        8.13 Expenses. Each party will bear their own expenses incurred in connection with this Agreement. 

        8.14 Survival of Representations and Warranties. The representations, warranties, covenants and agreements of the parties set
forth in this Agreement or in any instrument, certificate, opinion or other writing providing for in it, shall survive the Closing. 

        8.15 Exhibits. As of the execution hereof, the parties have provided each other with the Exhibits described herein. Any
material changes to the Exhibits shall be immediately disclosed to the other party. 

        8.16 Legal Counsel. Each of the parties has been represented by its own legal counsel. 

        In
witness whereof, the parties have executed this Agreement on the date indicated above. 

	
NB ACQUISITIONS, INC.	
 	
NATIONAL INTEREST SOLUTIONS, INC.
	

By:	
 	

 Jack D. Kelley, President	
 	

By:	
 	

 Stephen Luke, Chief Executive Officer

9

EXHIBIT 1.1  

SCHEDULE OF NIS COMMON STOCKHOLDERS

AND

ALLOCATION OF NB COMMON SHARES  

	Name of NIS

Stockholder
 
	 	Number of NIS

Shares Exchanged
	 	Number of NB Common

Shares to be Issued

	Stephen Luke	 	66,136	 	5,952,217
	

William Luke	
 	

1,524	
 	

137,137
	

Christopher Luke	
 	

4,167	
 	

375,000
	

Donald Luke	
 	

1,667	
 	

150,000
	

William L. Mullins	
 	

4,174	
 	

375,646
	

Eva Mullins	
 	

4,222	
 	

380,000
	

William F. Mullins	
 	

4,222	
 	

380,000
	

Shigeru Kaneko	
 	

5,000	
 	

450,000
	

Douglas Dragoo	
 	

556	
 	

50,000
	

Pursuit Venture Group, Inc. 	
 	

8,333	
 	

750,000
	
Totals	
 	
100,000	
 	

9,000,000

 
EXHIBIT 1.2

SUBSCRIPTION AGREEMENT  

        In connection with my exchange of shares of the no par value common stock or common stock options of National Interest Solutions, Inc. ("NIS"), for the
$.0001 par value common stock of NB Acquisitions, Inc. ("NB"), I acknowledge the matters set forth below and represent that the statements made herein are true. I understand that NB is relying
on my truthfulness in issuing its securities to me. 

        I
hereby represent and warrant to NB that I have the full power and authority to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby. This
Agreement is a legal, valid and binding obligation of mine, enforceable against me in accordance with its terms. I own the securities in NIS that I am exchanging for securities of NB free and clear of
all pledges, liens, encumbrances, security interests, equities, claims, options, preemptive rights, rights of first refusal, or any other limitation on my ability to vote such securities or to
transfer such securities to NB. I have full right, title and interest in and to the NIS securities that I am exchanging. 

        I
understand that NB's common stock and stock options (the "Securities) are being issued to me in a private transaction in exchange for my securities in NIS and in reliance upon the
exemption provided in section 4(2) of the Securities Act of 1933, as amended (the "Act") for non-public offerings and pursuant to the Agreement Concerning the Exchange of
Securities between NB and NIS ("Agreement"). I understand that the Securities are "restricted" under applicable securities laws and may not be sold by me except in a registered offering (which may not
ever occur) or in a private transaction like this one. I know this is an illiquid investment and that therefore I may be required to hold the Securities for an indefinite period of time, but under no
circumstances less than one year from the date of its issuance. 

        I
am acquiring the Securities solely for my own account, for long-term investment purposes only and not with a view to sale or other distribution. I agree not to dispose of
any Securities unless and until counsel for NB shall have determined that the intended disposition is permissible and does not violate the Act, any applicable state securities laws or rules and
regulations promulgated thereunder. 

        All
information, financial and otherwise, or documentation pertaining to all aspects of my acquisition of the Securities and the activities and financial information of NB has been made
available to me and my representatives, if any, and I have had ample opportunity to meet with and ask questions of senior officers of NB, and I have received satisfactory answers to any questions I
asked. 

        In
acquiring the Securities, I have reviewed the Agreement and have made such independent investigations of NB as I deemed appropriate. I am an experienced investor, have made
speculative investments in the past and am capable of analyzing the merits of an investment in the Securities. I understand that the Securities are highly speculative, involves a great degree of risk
and should only be acquired by individuals who can afford to lose their entire investment. Nevertheless, I consider this a suitable investment for me because I have adequate financial resources and
income to maintain my current standard of living even after my acquisition of the Securities. I know that NB is a "shell" company with no significant assets or liabilities, its financial affairs can
fluctuate dramatically from time to time, and that although I could lose my entire investment, I am acquiring the Securities because I believe the potential rewards are commensurate with the risk.
Even if the Securities became worthless, I could still maintain my standard of living without significant hardship on me or my family. 

        By
signing this Agreement, I also accept and agree to abide by the terms and conditions of the Agreement as if I had executed the Agreement itself. 

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        Dated
as of this                        day
of                        , 2004. 

	

 	
 	

 Signature
	

 	
 	

 Name, Please Print
	

 	
 	

 Residence Address
	

 	
 	

 City, State and Zip Code
	

 	
 	

 Area Code and Telephone Number
	

 	
 	

 Social Security Number
	

 	
 	

 Number of NIS Common Shares Exchanged

3

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AGREEMENT CONCERNING THE EXCHANGE OF SECURITIES BY AND AMONG NB ACQUISITIONS, INC. AND NATIONAL INTEREST SOLUTIONS, INC. AND THE SECURITY HOLDERS OF NATIONAL INTEREST SOLUTIONS, INC.

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