EX-10.2

Exhibit 10.2

FIXED SUM LOAN AGREEMENT (UNREGULATED/BUSINESS EXEMPT)

[LENDER] ("we", "us", "our")

AGREEMENT No. PWO539370

THIS FIXED SUM LOAN AGREEMENT is made between [LENDER] [ADDRESS] (Company Number: [NUMBER]) and the undernoted ("you"/"your").

Full Business Name: WATTBIKE LIMITED

Business Address: Unit 13 Nottingham South & Wilford Industrial Estate, Ruddington Lane, West Bridgford, Nottingham, Nottinghamshire, NG11 7EP

Telephone: 01159455450

Company Reg No: 05554245

Email Address: caleb@interactivestrength.com

FINANCIAL INFORMATION

PAYMENT SCHEDULE

The first Payment together with the Documentation Fee set out above will be due from you as indicated: [X] 1 month(s) after the Date of this Agreement / on the Date of this Agreement / on such date as we shall inform you in writing. All subsequent Payments will be payable at the Frequency shown above in each month, quarter or year as shown.

Declaration for exemption relating to businesses (Articles 60C and 60O of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001)

I am/we are entering this agreement wholly or predominantly for the purposes of a business carried on by me/us or intended to be carried on by me/us. I/We understand that I/we will not have the benefit of the protection and remedies that would be available to me/us under the Financial Services and Markets Act 2000 or under the Consumer Credit Act 1974 if this agreement were a regulated agreement under those Acts. I/We understand that this declaration does not affect the powers of the court to make an order under section 140B of the Consumer Credit Act 1974 in relation to a credit agreement where it determines that the relationship between the lender and the borrower is unfair to the borrower. I am/We are aware that, if I am/we are in any doubt as to the consequences of the agreement not being regulated by the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974, then I/we should seek independent legal advice.

Important: How we use your personal information

By signing this application you acknowledge and agree that:

the information about you in this form may be passed to and/or used for any purpose set out below and/or connected to this agreement and its performance by other companies in our group of companies, the supplier of equipment or services, debt collection agencies, credit reference agencies ("CRAs") and

fraud prevention agencies, any assignee of our rights under this Agreement and/or any third party involved in the arrangements by which we fund the provision of finance facilities (either now or at any time in the future);

your information may be used to carry out "know your client" procedures, help make credit decisions about you, for fraud prevention, and to administer the agreement and the services provided;

we may search your records at one or more CRAs, who will add to your record details of our search and your credit application;

details of your agreement with us and your payment history may be added to your records at the CRAs, and can then be used by us and other organisations to make assessments in the future;

a joint application, and any reference in your application to a business or financial partner, may result in the CRAs associating you with the other party when future applications by either of you are considered;

we may use a credit scoring or other automated decision making system when assessing your application;

any other person whose information is disclosed by you in this form has consented to its use as set out above.

The data protection information in this Agreement is in addition to the information contained in the fair processing notice provided to you separately.

Important: Please read the Agreement terms and conditions before signing this Agreement.

Your Signature: Sign this Agreement only if you want to be bound by its terms

[LENDER INFORMATION]

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Your acknowledgements

You apply to us on behalf of ourselves, our successors, assigns and transferees to borrow the Loan Amount stated above. If we accept your application we will do so in reliance upon your acknowledgment by signing this Agreement that:

1. you have read and understood the Terms and Conditions and the statements and information above and below;

2. all the information above is accurate and was complete at the time of signature;

3. this Agreement may be signed by you and by us by way of electronic signature, as defined in section 7(2) of the Electronic Communications Act 2000;

4. you are entering into this Agreement for the purposes of your business;

5. you understand personal information has been given to us for the purposes of this Agreement and that you have read and understand the box above entitled "Important: Use of your Information" and agree to us using it for the purposes set out;

6. where you are a sole trader or a partnership consisting of less than four partners, the declaration for exemption relating to businesses above applies; and

7. this is the whole agreement between us.

Terms and Conditions

1. LOAN

1.1. We are lending you the Loan Amount shown overleaf and you are borrowing it for the purposes of your business only.

1.2. This Agreement is entered into by us on behalf of ourselves, our successors, assigns and transferees.

2. PAYMENTS

You must pay the Payments, the Documentation Fee and the other sums payable and to become payable under this Agreement by direct debit punctually at the times specified in this Agreement without previous demand, set off, counterclaim or deduction and as an essential condition of this Agreement. If payment is made by post, it will be at your risk. An administration charge of £15.00 is payable on payments made other than by direct debit. You agree to waive your right to receive notice of any amendment to a variable direct debit.

3. TERMINATION AND EARLY SETTLEMENT

3.1. If any of the following events occur, this will be considered a serious breach of this Agreement and we will be entitled to terminate this Agreement:

(a) a default by you in the payment of any money due under this Agreement for more than 5 days after the due date; or

(b) you fail to remedy any breach of this Agreement or any other agreement between us and you other than a breach relating to the payment of money, within 10 days of written notice from us requiring the breach to be remedied; or

(c) (i) an administration, winding up, bankruptcy or sequestration order is made in respect of you, or a receiver, administrator or administrative receiver or similar officer is appointed over any of your assets or any steps are taken by any person (including by you) with a view to the appointment of any of the foregoing, or you are deemed unable to pay your debts or become apparently insolvent, or there is a meeting of your creditors, or a scheme of arrangement, debt management plan, or composition is made with your creditors or (ii) (if you are a company), you are liquidated or wound up or pass a resolution for voluntary winding up (other than for a bona fide reconstruction approved by us), or (iii) (if you are a partnership), the partnership is dissolved or terminated or (iv) being an individual, you die, or (v) you cease or threaten to cease trading, or dispose of a substantial part of your business, or (vi) there is a change of ownership or control (whether direct or indirect) of you; or

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(d) we become entitled to terminate any other hire, hire purchase, loan or other finance agreement we may have entered into from time to time with you; or

(e) any guarantee we have of your liabilities is not or ceases to be valid, binding or enforceable or any of the events referred to in 3.1(c) happen in relation to a guarantor; or

(f) we have reason to believe that information which you provided to us and on which we relied when deciding whether to enter into this Agreement was substantially incorrect at the date of your signature(s); or

(g) we have reason to believe that there has been a material adverse change in your business or financial position from that existing at the Date of this Agreement.

3.2. On our terminating this Agreement under clause 3.1, you must pay to us immediately: (a) all arrears of Payments and other sums due to us at the date of termination, together with any interest, costs, charges and expenses which have been incurred by us under this Agreement; and (b) a sum equal to the aggregate of all Payments which would, but for such termination or repudiation, have fallen due for payment during the remainder of the Term discounted at 2% per annum with quarterly rests.

3.3. You may settle this Agreement before the end of the Term by giving us not less than 1 month notice in writing. The settlement will be effective only when you have paid to us the sums referred to in clause 3.2 in full. We may also charge you an administration fee of £45.00 plus VAT to cover our processing costs.

4. LATE PAYMENT, ETC.

4.1. If you are late in paying any sum due to us under this Agreement, you must pay to us on demand any cost or expense incurred by us in obtaining payment together with interest on the overdue sums at Bank of England Base Rate plus 5% per annum on a day-to-day basis from the due date until the date of payment after as well as before judgment. You must also pay us £10.00 for each telephone call in respect of default, £20.00 for each missed payment and £30.00 for each default letter issued together with other reasonable costs (including, but not limited to, costs of letters, tracing fees, debt collection agency and legal costs) which we incur.

5. SECURITY

5.1. This clause 5 will apply only if you use the loan provided under this Agreement to purchase any policy of insurance from time to time (including any renewal of any insurance policy) (each a "Relevant Policy" and together the "Relevant Policies").

5.2. As security for the payment of all amounts that you are at any time required to pay under this Agreement, by signing this Agreement you (a) grant us a first ranking charge over, and (b) assign all of your remaining rights, title, interest and benefit in and to the Relevant Policies from time to time including (without limitation) all rights to and interest in (i) all sums payable under the Relevant Policies (including refunds); and (ii) the right to cancel and/or enforce the Relevant Policies. In addition, by entering into this Agreement you direct your insurer and/or the FSCS (as applicable) to pay to us any sum which you are entitled to receive in connection with a Relevant Policy. If any event listed in clause 3 occurs whilst any balance is outstanding under this Agreement, and after the expiry of any relevant notice period, we shall be entitled to take all necessary steps in connection with the Relevant Policies as are necessary to protect us. These steps may include: (i) taking possession of the Relevant Policies and retaining them (either ourselves or through a broker or agent on our behalf) until that balance has been repaid in full; (ii) notifying your insurer (if we have not done so already) as to our interest in the Relevant Policies; (iii) cancelling a particular Relevant Policy and receiving any refund due; or (iv) taking steps to enforce a Relevant Policy and recovering the proceeds. This will mean that you do not receive any amounts paid in connection with the Relevant Policies until we have been repaid in full.

6. GENERAL

6.1. No forbearance or delay by us in enforcing any part of this Agreement or any of our rights or remedies and no grant of time or indulgence by us shall prejudice or diminish our rights or remedies nor shall any waiver by us of any breach by you operate as a waiver of any subsequent or continuing breach.

6.2. Any document or notice we give you under or in connection with this Agreement will be validly given if sent either by first class post to your usual or last known place of business, or by email to the email address specified overleaf or such other email address as you may notify to us from time to time. Such document or

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notice shall be deemed to have been received by you forty-eight hours after posting if sent by post or, if sent by email, on the working day following the day on which the email was sent.

6.3. If more than one person entered into this Agreement as borrower, you are jointly and severally liable for the Borrower's obligations.

6.4. Clause headings appear for ease of reference only and do not affect the construction of this Agreement.

6.5. This Agreement contains all the terms of the loan agreed between us. No variation of this Agreement shall be effective unless recorded in writing and signed on behalf of both parties.

6.6. Legality: If any provision in this Agreement shall be held to be invalid, illegal or unenforceable, it shall be deemed severable from, and shall not affect, the remaining provisions of this Agreement.

6.7. No Assignment: Your rights and obligations under this Agreement cannot be transferred. We may assign our rights and transfer obligations under this Agreement.

6.8. Rights of Third Parties: A person who is not a party to this Agreement shall have no right to enforce any terms of it under the Contracts (Rights of Third Parties) Act 1999.

6.9. This Agreement may be signed by you and by us by way of electronic signature, as defined in section 7(2) of the Electronic Communications Act 2000.

6.10. This Agreement shall be governed by, and construed in accordance with, English law. The courts of England shall have exclusive jurisdiction in relation to all matters which may arise out of or in connection with this Agreement.

DISPUTE RESOLUTION

6.11. If you have a problem and we are unable to resolve your complaint internally to your satisfaction, you may, if you are an Eligible Complainant, be able to refer it to the Financial Ombudsman Service in writing at Exchange Tower, London E14 9SR, by calling 0800 0234 567 or emailing complaint.info@financial-ombudsman.org.uk. More information is available at www.financial-ombudsman.org.uk.

CREDIT REFERENCE AGENCIES

If we decide not to proceed with this Agreement on the basis of the information about you obtained from a credit reference agency, we shall inform you of this and give you the particulars of the relevant credit reference agency, including its name and address. If you wish to know which credit reference agencies have been supplied with your details or further information about how they are used, or you would like a copy of the information we hold about you (a small fee may apply), write to: The Data Protection Controller, at our address listed overleaf.

[LENDER INFORMATION]

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