Document:

Exhibit 10.1

AMERICAN PALLET LEASING, INC.

                                                 950 N. MILWAUKEE AVE, SUITE 328
                                                        GLENVIEW, ILLINOIS 60025
================================================================================
Phone (847) 390-7999 FLORIDA: 2131 68TH AVE SO; ST PETERSBURG FL 33712 PHONE:
(727) 867-7628 FAX: (727) 867-3658
Fax (847) 390-6604
cellular: (727) 510-7672
Email: jfcrig@aol.com

                               November 28, 2005

L&L Lumber Products, Inc.
1000 West 7th Street
North Bend, NE 68649

Attn:    Richard Limbach
         Nancy Limbach

         Re:   Purchase of L&L Lumber Products, Inc. (the "Company")

Dear Mr. & Mrs. Limbach:

            This  letter  confirms  our  understanding  of  the  mutual  present
intentions of American Pallet Leasing,  Inc. or its affiliate (the  "Purchaser")
and Richard and Nancy  Limbach (the  "Sellers")  with  respect to the  principal
terms and  conditions  under which the Purchaser will acquire from Sellers their
interest in the following  identified real and personal  property (the "Company"
or the "Property").

                                   REAL ESTATE

      Lots 2, 3, 4, and 5,  Flamme's  Addition to the City of North Bend,  Dodge
      County, Nebraska.

      And,

      Lots 1, 2, 3, 6, 7, and 8 in Block 69 of the  Original  Town,  now City of
      North Bend, Dodge County,  Nebraska and that portion of the alley in Block
      69 of the Original  Town abutting Lots 1, 2, 3, 6, 7, and 8 of said Block;
      that portion of Fourth  Street  abutting Lots 6, 7, and 8 of said Block 69
      on the South and West half of Mulberry Street from the intersecting  South
      boundary  line of Fifth Street on the North  extending  South to the South
      city limits boundary line in Fourth Street. Property will be taken subject
      to rights of ingress and egress,  reservations  for utility lines of every
      nature, and encroachment of record (the "Demised Property").

                              PERSONAL PROPERTY(1)

      A. All  Equipment  and  Rolling  Stock as  specifically  described  on the
      attached Exhibit A (the "Demised Assets").

      B.  With  the  exception  of cash or cash  equivalent  on  deposit  in any
      institution and accounts receivable,  all assets of the Company. Purchaser
      shall also purchase by separate  agreement the inventory of logs,  lumber,
      bark,  sawdust,  wood chips,  and pre-built  product on purchase date at a
      cost plus freight basis.

--------------
(1)  Equipment,  leasehold  improvements  and trade  fixtures will be in working
order and/or essentially the same condition as there were at the time of initial
inspection,  ordinary wear and tear excepted.  All property being sold hereunder
shall be free and clear of any liens or encumbrances.

<PAGE>

L&L Lumber
November 28, 2005
Page 2 of 5

      C. All copyrights and patents,  customer deposits,  customer lists, vendor
      lists and catalogs,  trade  fixtures and  equipment,  fictitious  business
      name,  trade  name(s)  and  logo(s),   sign(s),   leasehold  improvements,
      goodwill,  telephone  number(s),  distributor rights, and all transferable
      licenses and permits.

Such transaction is hereinafter  referred to as the  "Acquisition."  The Sellers
and the  Purchaser  may  hereafter be referred to  individually  as a "Party" or
collectively as the "Parties."

            The  Parties  acknowledge  that this  letter  does not  contain  all
matters upon which an agreement must be reached in order for the  Acquisition to
be consummated.  Further,  among other conditions  specified herein or otherwise
agreed to by the  Parties,  the  obligations  of the Parties to  consummate  the
Acquisition  are  subject  to the  negotiation  and  execution  of a  definitive
agreement  relating  to  the  Acquisition  (the  "Acquisition  Agreement"),  the
completion of satisfactory due diligence by the Parties,  securing the necessary
approvals from each Party's board of directors or shareholders,  as appropriate,
and the Purchaser's  providing Sellers with a commitment letter from Purchaser's
bank or lending  institution,  within  fourteen (14) days of the signing of this
Letter of Intent by  Sellers,  which  commitment  letter  shall be in a form and
contain such terms consistent with a transaction of this size and nature. In the
event  such  commitment  letter is not  submitted  to the  sellers  by 5:00 p.m.
Central  Standard  Time on the 14th day  after  the  signing  of this  Letter of
Intent,  then this  Letter  of Intent  shall be null and void and of no force or
effect  whatsoever.  For purposes of counting  the 14 days,  the first day shall
begin on the day after the signing of this Letter of Intent.

            Within ten (10) business days after the 14-day period's  expiration,
Purchaser  shall  submit  to  Sellers a  proposed  Acquisition  Agreement.  Such
Acquisition  Agreement  shall be of a form and contain such terms as appropriate
for a  transaction  of a  nature  and  size  contemplated  herein  and  shall be
reasonably  satisfactory  to the  Purchaser's  lender.  In the  event  that such
Acquisition Agreement is not submitted by 5:00 p.m. Central Standard Time on the
10th business day as provided  herein,  then this Letter of Intent shall be null
and void and of no force or effect  whatsoever.  For purposes of counting the 10
business  days,  the first day shall  begin on the day after the signing of this
Letter of Intent. A business day shall not include  Saturdays,  Sundays,  or any
day that the banks in either  Illinois or Nebraska  are closed or required to be
closed by operation of law or custom.

            Upon  receipt of the  proposed  Acquisition  Agreement,  the parties
shall forthwith  negotiate in good faith to reach an agreement to its terms that
an  Acquisition  Agreement  is  signed  as soon  as  practicable,  both  parties
understanding and agreement that time is of the essence.

      1.  PURCHASE  AND SALE.  At the  closing of the  transaction  contemplated
hereby (the "Closing"),  subject to the satisfaction of all conditions precedent
contained in the  Acquisition  Agreement,  the  Purchaser,  or a  subsidiary  or
designated affiliated party of the Purchaser,  will acquire 100% of the Sellers'
interest in the Demised  Property and the Demised  Assets of the Company,  which
are identified above and on Exhibit A.

      2.  STRUCTURE.  The  Acquisition  shall be structured as an asset sale. At
Closing,  the  Sellers  shall  retain  their  accounts  receivable  and shall be
responsible  for their accounts  payable.  The Sellers shall also be responsible
for any encumbrance on the Demised Property or Demised assets prior to Closing.

      3.  PURCHASE  PRICE.  The  purchase  price to be paid at closing  shall be
$1,650,000.  Of the total Purchase Price,  $1,500,000 shall be paid in cash, and
the Sellers shall take a note back for  $150,000,  the terms of which note shall
be standard for a transaction of this nature and size and shall be determined in
good faith by negotiation between the Parties.

<PAGE>

L&L Lumber
November 28, 2005
Page 3 of 5

      4. CLOSING.  Subject to the  satisfaction of all conditions  precedent and
the  continued  accuracy of the  representations  contained  in the  Acquisition
Agreement,  the Closing  will take place within  thirty-five  (35) days from the
date that the  Acquisition  Agreement  is  signed  by the later of the  required
signatures.  Upon execution of the  Acquisition  Agreement,  the title insurance
shall be ordered and one-half of the cost thereof shall be a binding  obligation
of each party as otherwise stated herein.

      5. UNDERTAKINGS PRIOR TO CLOSING.

            (a)  During the  period  from the date this  letter is signed by the
Sellers (the "Signing  Date") until the date on which either Party  provides the
other Party with written notice that negotiations toward a Definitive  Agreement
are terminated (the "Termination Date"), the Sellers and the Company will afford
the Purchaser, its representatives,  or its lenders, full and free access to the
Company, its personnel, properties,  contracts, books and records, and all other
documents and data.

            (b) During the period  from the Signing  Date until the  Termination
Date,  the  Sellers  and the  Company  shall  cause the  Company to operate  its
business  in  the  ordinary  course  and  to  refrain  from  any   extraordinary
transactions.

      6. EXCLUSIVE  DEALING.  Upon later of the signing of this Letter of Intent
or the receipt of the Purchaser's  commitment letter for financing,  the Sellers
shall not solicit, encourage or accept proposals from or enter into negotiations
with or  furnish  any  nonpublic  information  to any  other  person  or  entity
regarding a business  combination or the possible sale of the Sellers'  interest
in the Company,  until (a) the earlier of the Signing Date or the termination of
this letter, or (b) the Closing Date if the Acquisition Agreement is executed by
the Parties.  The Sellers shall notify the Purchaser promptly of any unsolicited
proposals by third parties and furnish the Purchaser the material terms thereof.

      7. TERMINATION. This letter may be terminated at any time:

      (a)   by the mutual written consent of the Parties;

      (b)   by either Party if the  Acquisition  Agreement  has not been entered
            into by the Parties by the Closing Date;

      (c)   by the Sellers if the Purchaser is unable to secure financing;

      (d)   by the  Purchaser if the Company's  bank  forecloses on the property
            prior to Closing.

      (e)   by either  Party if the other  Party has  failed to  proceed in good
            faith under this letter.

      (f)   by  the  Sellers  if  the  commitment  letter  for  the  Purchaser's
            financing  is not  provided  within  the 14-day  period as  provided
            herein.

      (g)   by  the  Sellers  if  the   Purchasers  do  not  submit  a  proposed
            Acquisition Agreement as provided herein.

      8. ALL PROPERTY IN PRESENT CONDITION.

<PAGE>

L&L Lumber
November 28, 2005
Page 4 of 5

      This  sale/purchase  is based upon the  inspection  of the property by the
      purchaser and not upon any  representations  or warranties of condition by
      the Sellers or Sellers'  agent.  Purchaser is purchasing  this property in
      its present condition and with all its faults. It is agreed by the Parties
      that the Explorer Block Pallet Machine is not in working order.

      Sellers make no  representations or warranties of any kind or nature other
      than as set forth in the deed in connection with the sale of the property,
      and  other  than  that the  Sellers  have the  authority  to  execute  the
      Agreement.  Purchaser  hereby  acknowledges  that they have  examined  the
      property and conducted such  investigations  with relation thereto as they
      deem  advisable  and  have  satisfied  themselves  as to  the  nature  and
      condition of the property and all pertinent factors with relation thereto.
      Purchaser  agrees that it will accept the  property  in the  condition  in
      which it now exists  without  warranties  or  representations  of any type
      whatsoever,  express or implied,  in fact or by law, and without  recourse
      against  the  Sellers as to the  nature,  condition  or  usability  of the
      property or the uses to which it may be put.

      9.  DISCLOSURE.  Except as and to the extent required by law,  without the
prior  written  consent of the other  Party,  neither the  Purchaser  nor either
Seller will, and each will direct its  representatives  not to make, directly or
indirectly, any public comment,  statement, or communication with respect to, or
otherwise  to  disclose  or  to  permit  the  disclosure  of  the  existence  of
discussions  regarding, a possible transaction between the Parties or any of the
terms, conditions,  or other aspects of the transaction proposed in this letter.
If a Party is required by law to make any such disclosure, it must first provide
to the other Party the content of the proposed disclosure, the reasons that such
disclosure is required by law and the time and place that the disclosure will be
made.  Sellers  understand  that  Purchaser is a public  company and has certain
disclosure requirements that it may be required to undertake upon the signing of
this letter of intent.

      10. COSTS.  The Purchaser and each Seller will be responsible for and bear
all of its own costs and expenses  (including  any broker's or finder's fees and
the expenses of its  representatives)  incurred at any time in  connection  with
pursuing  or  consummating  the  Acquisition.   Notwithstanding   the  preceding
sentence,  the cost of an owner and  mortgagee's  title  policy shall be divided
equally between the Purchaser and the Sellers.

      11. CONSENT TO DUAL AGENCY. The Parties acknowledge and consent to the use
of Gilbert Eggers as dual agent as provided at Exhibit B.

      12.  ENTIRE  AGREEMENT.  The  Binding  Provisions  constitute  the  entire
agreement  between  the  parties,  and  supersede  all  prior  oral  or  written
agreements,  understandings,  representations  and  warranties,  and  courses of
conduct and dealing between the parties on the subject matter hereof.  Except as
otherwise  provided  herein,  the Binding  Provisions may be amended or modified
only by a writing  executed  by all of the  parties  or by the  negotiation  and
execution  of a  definitive  agreement.  For  purposes  of this  Agreement,  the
following shall be considered Binding Provisions: Sections 4, 5, 6, 7, 8, 9, 10,
11, 12 and 13.

      The paragraphs  and  provisions of this letter not identified  immediately
above do not constitute and will not give rise to any legally binding obligation
on the  part  of any of the  Parties  or of the  Company.  Moreover,  except  as
expressly  provided in the Binding  Provisions (or as expressly  provided in any
binding  written  agreement  that the Parties may enter into in the future),  no
past or future  action,  course of  conduct,  or failure to act  relating to the
Acquisition,  or relating to the  negotiation of the terms of the Acquisition or
any  Definitive  Agreement,  will  give  rise to or  serve  as a  basis  for any
obligation or other liability on the part of the Parties or the Company.

<PAGE>

L&L Lumber
November 28, 2005
Page 5 of 5

      13.  GOVERNING  LAW. This letter and the  definitive  agreements  shall be
governed by and construed in  accordance  with the law of the State of Nebraska,
without regard to the  principles or policies  thereof with respect to conflicts
of laws.

      14. COUNTERPARTS. This letter may be executed in one or more counterparts,
each of which  shall be  deemed an  original,  and all of which  together  shall
constitute one and the same instrument.

            If the  foregoing  correctly  sets forth our  mutual  understanding,
please so indicate  by signing two copies of this letter in the spaces  provided
below and returning one copy to us no later than 5:00 p.m. local on November 28,
2005.

                                         Very truly yours,

                                         /s/ James F. Crigler
                                         ---------------------------------------
                                         James F. Crigler
                                         President & CEO

ACCEPTED AND AGREED:

L&L

By:

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

/s/ Richard Limbach                             50%
-----------------------------------      ---------------------------------------
Name                                     Shares Owned

/s/ Nancy Limbach                               50%
-----------------------------------      ---------------------------------------
Name                                     Shares OwnedCONVERSION AND SETTLEMENT AGREEMENT
                       -----------------------------------

            This CONVERSION AND SETTLEMENT AGREEMENT (this "Agreement") dated as
of November 21, 2005, by and among GCH Capital, Ltd., a California corporation
("GCH"), Palisades Capital, LLC, a Nevada limited liability company
("Palisades") and Dojo Investments, Ltd., a Nevada limited liability company
("Dojo," and, together with GCH and Palisades, the "Creditors") and Satellite
Enterprises Corp., a Nevada corporation (the "Company").

            WHEREAS, Creditors have purchased, and are now the holder, of all
rights under the following agreements originally entered into between the
Company and each of Greenwich Growth Fund Limited, Whalehaven Fund Limited,
Stonestreet LP, Cong, Sharei Chaim Inc. (but later assigned to Averim, Inc.),
Alpha Capital AG, Zenny Trading Limited, Gamma Opportunity Capital Partners, LP,
Longview Fund, LP, Longview Equity Fund, LP, Longview International Equity Fund,
LP and Ellis International Limited, Inc. (all collectively the "Prior Securities
Holders"):

            a.    Securities Purchase Agreement, dated as of May 19, 2004, as
                  amended to date (the "Securities Purchase Agreement");
            b.    Warrant, dated as of May 19, 2004, as amended to date (the
                  "Warrants"), pursuant to which the Prior Securities Holders
                  have the right to purchase a total of 10,869,565 shares of
                  common stock of the Company;
            c.    Registration Rights Agreement, dated as of May 19, 2004, as
                  amended to date (the "Registration Rights Agreement");
            d.    Amendment No. 1, dated as of October 29, 2004, to Securities
                  Purchase Agreement dated as of May 19, 2004, as amended to
                  date (the "First Amendment");
            e.    Debenture, as defined in the First Amendment, with a current
                  principal balance of $380,000 (the "Debentures," and, together
                  with the First Amendment, the Registration Rights Agreement,
                  the Warrant and the Securities Purchase Agreement, the
                  "Transaction Documents").

            WHEREAS, the Company has requested that Creditors assist the Company
in its effort to effect a recapitalization and pay off and/or conversion of
certain debt obligations from the Company's balance sheet, including the
repayment of approximately $380,000 of debt and conversion of an additional
$3,000,000 of debt at a conversion price of $0.0075 per share;

            WHEREAS, the Company and Creditors are disputing the rights of
Creditors under the Transaction Documents to anti-dilution protection and reset
provisions, in that the Company and Creditors disagree on the exact
anti-dilution rights Creditors are entitled to, and the exact number of shares
Creditors are entitled to under the reset provisions in the Transaction
Documents;

                                       1
<PAGE>

            WHEREAS, Creditors have alleged that due to certain disclosed
transactions pursuant to which the Company is or will convert approximately
$3,000,000 of debt into shares at $0.0075 per share, the Creditors are entitled
to a reduction in the exercise price of their Warrants to $0.0075, to reset
rights which would result in an issuance to Creditors of at minimum 50 million
shares and possibly as high as 266 million shares, and to convert the Debentures
into not less than 56 million shares;

            WHEREAS, to assist the Company as requested, and to settle any
dispute as to the number of shares the Creditors are entitled to receive, the
Creditors have agreed to convert their Debentures and Warrants into 49,500,000
shares of the Company's common stock pursuant to the reset and anti-dilution
provisions of the Debentures and Warrants, and release the Company from any and
all further obligations under the Transaction Documents, other than the
obligation to keep the currently effective registration statement current and
effective;

            WHEREAS, as a condition to Creditors entering into this Agreement,
the Creditors have required that the Company convert not less than $3,000,000 of
its current debt into equity at a conversion price of $0.0075, and the Company
has agreed to this condition, and has represented that the Company has secured
the consent and agreement of the debt holders to effect such conversion;

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

                                    ARTICLE I

                                   CONVERSION

            Section 1.1 Conversion. The Company and Creditors hereby agree that
the warrant exercise price is herby adjusted to an aggregate of $81,521.74, and
the number of shares issuable upon exercise of the warrants and conversion of
the Debentures (including any unpaid interest on such Debentures) and upon reset
of the common stock purchase price is agreed to be 49,500,000 shares of the
Company's common stock. The parties agree and acknowledge that this is a
reasonable and best estimate of the rights under the Debentures and the Warrants
under the price protection and anti-dilution provisions in such agreements. The
parties further acknowledge that the issuance of the 49,500,000 shares of the
Company's common stock pursuant to this paragraph shall satisfy all rights to
reset, price protection and anti-dilution rights contained in the Transaction
Documents, and all such rights shall be deemed fully satisfied and terminated
upon issuance of such shares. The shares of common stock shall be issued as
follows:

                  GCH Capital, Ltd.            24,660,784
                  Palisades Capital, LLC       12,419,608
                  Dojo Investments, LLC        12,419,608

                                       2
<PAGE>

            The shares issuable to GCH Capital shall be allocated among warrant
exercise shares, shares issuable upon conversion of debentures and shares
issuable upon reset rights to the maximum extent to shares that have been, and
are currently, registered on its currently effective registration statement. The
Company represents and warrants that its registration statement on Form SB-2 is
current and effective at this time, and 19,660,784 of the shares issued to GCH
Capital have been registered under such registration statement. The remaining
shares are restricted securities; provided, however, that the Company represents
and warrants that the Warrants have been held by third parties who are not
affiliates of the Company, and were fully paid for, since May 19, 2004, and the
Debentures were issued and fully paid for on October 29, 2004.

            Section 1.2 Purchase Price. Creditors shall pay the warrant exercise
price within ten business days of their receipt of the Shares.

            Section 1.3 Closing. The closing of the transactions referred to in
Section 1.1 hereof (the "Closing") shall take place as soon as possible after
full execution of this Agreement, or at such other time as the parties may agree
upon. Such time and date are herein referred to as the "Closing Date."

                                   ARTICLE II

                         REPRESENTATIONS OF THE COMPANY

            The Company represents and warrants, as follows:

            Section 2.1 Common Stock. The Common Stock to be delivered to
Creditors shall be validly issued, duly authorized, fully paid and
non-assessable, and have been registered pursuant to an effective registration
statement. The Company shall continue to keep such registration statement
effective, and shall comply with all obligations under the Registration Rights
Agreement.

            Section 2.2 Authorization and Validity of Agreement. The Company has
full power and authority (corporate or otherwise) to execute and deliver this
Agreement, to perform its obligations hereunder and to consummate the
transactions contemplated hereby. This Agreement has been duly executed and
delivered by the Company and, assuming the due execution of this Agreement by
Creditors, is a valid and binding obligation of the Company, enforceable against
the Company in accordance with its terms, except to the extent that its
enforceability may be subject to applicable bankruptcy, insolvency,
reorganization and similar laws affecting the enforcement of creditors' rights
generally and to general equitable principles.

                                       3
<PAGE>

            Section 2.3 Consents and Approvals; No Violations. The execution and
delivery of this Agreement by Company and the consummation by Company of the
transactions contemplated herein and the other transactions contemplated hereby
(a) will not violate the provisions of the Certificate of Incorporation or
Bylaws of the Company, (b) will not violate any statute, rule, regulation, order
or decree of any public body or authority by which Company is bound or by which
any of its properties or assets are bound, (c) will not require any filing with,
or permit, consent or approval of, or the giving of any notice to, any United
States governmental or regulatory body, agency or authority on or prior to the
Closing Date (as defined in Section 1.3), and (d) will not result in a violation
or breach of, conflict with, constitute (with or without due notice or lapse of
time or both) a default (or give rise to any right of termination, cancellation,
payment or acceleration) under, or result in the creation of any Encumbrance
upon any of the properties or assets of the Company under, any of the terms,
conditions or provisions of any note, bond, mortgage, indenture, license,
franchise, permit, agreement, lease, franchise agreement or any other instrument
or obligation to which Company is a party, or by which they or any of its
properties or assets may be bound.

                                   ARTICLE III

                               CERTAIN AGREEMENTS

            Section 3.1 Reasonable Best Efforts. Each of the parties hereto
agrees to use its reasonable best efforts to take, or cause to be taken, all
action to do or cause to be done, and to assist and cooperate with the other
party hereto in doing, all things necessary, proper or advisable to consummate
and make effective, in the most expeditious manner practicable, the transactions
contemplated by this Agreement.

            Section 3.2. Recapitalization.

            The Company has informed Creditors that it has reached an agreement
to convert $3,000,000 of accounts payable, notes payable and debentures, not
including accrued and unpaid interest, late charges, penalties and default fees
(if any), into a total of 244,231,729 shares of common stock and 155,768 shares
of a new series of Class A Preferred Stock which is convertible into 155,768,000
shares of common stock. This represents conversion of the debt into equity at
the rate per share equal to the amount of total assets of the Company per share
of outstanding common stock as of June 30, 2005, or $0.0075 per share. The
Company agrees that it will commence the issuance of the preferred stock and
complete the issuance of the common stock prior to the Closing Date, and shall
have completed the conversion of such debt as described herein within thirty
days following the Closing Date.

                                       4
<PAGE>

                                   ARTICLE IV

                                 MUTUAL RELEASE

            Section 4.1 Mutual Release of Claims.

            (a) Creditors on the one hand, and the Company on the other hand,
for itself and its respective past, present and future administrators,
affiliates, agents, assigns, attorneys, successors and transferees, and all
persons acting by, through, under or in concert with any of them, and each of
them, hereby releases and discharges (i) the other party to this Agreement and
its past, present and future administrators, affiliates, agents, attorneys,
directors, employees, insurers, officers, managers, parents, partners,
predecessors, representatives, servants, subsidiaries, successors, transferees,
underwriters, and each of them; and (ii) each of their respective past, present
and future administrators, affiliates, agents, assigns, attorneys, directors,
employees, executors, heirs, insurers, officers, managers, parents, partners,
predecessors, representatives, servants, shareholders, subpartners,
subsidiaries, successors, transferees, underwriters, clients, customers, and
each of them; and (iii) all persons acting by, through, under or in concert with
any of them, of and from any and all actions, causes of action (including causes
of action for tortious conduct, fraud, fraudulent inducement or otherwise),
claims, costs, damages, debts, demands, expenses, liabilities, losses and
obligations of every nature, character and description, known or unknown,
suspected or unsuspected, actual or contingent, which the releasing party now
owns or holds, or has at any time heretofore owned or held, or may at any time
hereafter own or hold, by reason of any matter, cause or thing whatsoever
incurred, done, omitted or suffered to be done arising out of, or which may
hereafter be claimed to arise out of, related to or in any way directly or
indirectly connected with any events, facts, circumstances or conditions that
exist or existed on or prior to the date hereof (all such released or discharged
items, collectively, the "Released Claims"). Notwithstanding the foregoing, the
Released Claims shall not include any claim under any of the Transaction
Documents, other than any rights to anti-dilution protection, price protection,
pre-emptive or similar rights (all of which are forever released and deemed
satisfied by this Agreement); provided, however, that any prior breach of any
covenant or obligation under the Transaction Documents by any party is hereby
waived.

            (b) Representations and Covenants. In addition to the
representations contained in this Agreement, each of Creditors and the Company,
for itself and no other person, represents and warrants as follows in connection
with the release contained herein:

                  (i) Each of the Parties acknowledges that there is a risk that
subsequent to the execution of this Agreement, one or more Parties will incur or
suffer loss, damages or injuries which are in some way caused by or related to
the Released Claims, but which are unknown and unanticipated at the time this
Agreement is signed. All parties do hereby assume the above-mentioned risk and
understand that this Agreement SHALL APPLY TO ALL UNKNOWN OR UNANTICIPATED
RESULTS OF THE TRANSACTIONS AND OCCURRENCES DESCRIBED ABOVE, AS WELL AS THOSE
KNOWN AND ANTICIPATED, each of the Parties acknowledges in executing the
releases (the "Releases") contained in this Agreement, that each does so with
full knowledge of any and all rights and benefits that each might otherwise have
had under California Civil Code Section 1542, and each, upon the advice of
counsel, hereby waives and relinquishes any and all such rights and benefits.
Each of the Parties acknowledges and agrees that this waiver is an essential and
material term hereof, without which this Agreement (including, without
limitation, the Releases) would not have been entered into. Section 1542 reads
as follows: "A general release does not extend to claims which the creditor does
not know or suspect to exist in his favor at the time of executing the release,
which, if known by him, must have materially affected his settlement with the
debtor."

                                       5
<PAGE>

                  (ii) Each of the Parties certifies that it has read the
foregoing recitation of Section 1542 and understands the meaning of such
section. Each of the Parties further acknowledges that each may hereafter
discover facts different from or in addition to those known or believed to be
true with respect to the Released Claims. Each of the Parties agrees that the
Releases shall be and shall remain effective in all respects, notwithstanding
any such different or additional facts, or any facts which are intentionally
concealed from either party by the other. In this regard, and without
limitation, each of the Parties declares that it realizes that it may have
damages it presently knows nothing about and that, as to them, they have been
released pursuant to the Releases. Each of the Parties further declares that it
understands that the parties being released would not have agreed to compromise
their respective claims if the Releases did not cover damages and their results
which may not yet have manifested themselves or which may be unknown or not
anticipated at the present time.

                  (iii) The Releases shall not be deemed an admission by any of
the Parties of any sort.

                  (iv) Each of the Parties represents and warrants that it alone
is the owner of the Released Claims, that it has not heretofore assigned or
transferred, nor purported to assign or transfer to any third party, and is not
aware of any third party, who might assert some interest in any of the Released
Claims. Each Party further agrees to indemnify, defend and hold harmless the
other from all liability, claims, demands, damages, costs, expenses and
attorneys' fees incurred by the other Party as a result of any third party
asserting any such assignment or transfer of any such interest, right or claim.

                  (v) Each of the Parties represents and warrants that none of
the Released Claims is subject to any purported or actual lien, security
interest, encumbrance or other contractual right of any third party. Each Party
further agrees to indemnify, defend and hold harmless the other from all
liability, claims, demands, damages, costs, expenses and attorneys' fees
incurred by the other Party as a result of any third party asserting the
existence of any of the foregoing.

                  (vi) Each of the Parties acknowledges that it has read this
Agreement, has been, or has had the opportunity to be, represented by
independent counsel of their own choice in connection with the circumstances
leading up to the execution of the Releases, understands the terms, conditions
and consequences of the Releases, and is freely and voluntarily entering into
the Releases.

                  (vii) By execution of this Release, each releasing party
represents and warrants to the released party that no Claim that he, she or it
has, had, might have or might have had in the past against any person or entity
released hereby, has previously been conveyed, assigned, or in any manner
transferred, in whole or in part, to any third party. Each releasing party
expressly represents and warrants to the other that he, she or it has full
authority to enter into this Release and to release any and all Claims he, she
or it now has, had, might have or might have had in the past against each person
or entity released hereby.

                                       6
<PAGE>

                                    ARTICLE V

                  SURVIVAL OF REPRESENTATIONS; INDEMNIFICATION

            Section 5.1 Survival of Representations. The representations and
warranties set forth in this Agreement shall survive for three years after the
Closing Date.

                                   ARTICLE VI

                                  MISCELLANEOUS

            Section 6.1 Expenses. Except as otherwise provided in this
Agreement, each party to this Agreement will bear its respective fees and
expenses incurred in connection with the preparation, negotiation, execution and
performance of this Agreement and the transactions contemplated herein. If this
Agreement is terminated, the obligation of each party to pay its own fees and
expenses will be subject to any rights of such party arising from a breach of
this Agreement by another party. The Company has agreed to reimburse Creditors
the sum of $1,521.74 towards its legal fees in documenting this transaction.

            Section 6.2 Waiver; Remedies Cumulative. The rights and remedies of
the parties to this Agreement are cumulative and not alternative. Neither any
failure nor any delay by any party in exercising any right, power or privilege
under this Agreement or any of the documents referred to in this Agreement will
operate as a waiver of such right, power or privilege, and no single or partial
exercise of any such right, power or privilege will preclude any other or
further exercise of such right, power or privilege or the exercise of any other
right, power or privilege. To the maximum extent permitted by applicable law,
(a) no claim or right arising out of this Agreement or any of the documents
referred to in this Agreement can be discharged by one party, in whole or in
part, by a waiver or renunciation of the claim or right unless in writing signed
by the other party; (b) no waiver that may be given by a party will be
applicable except in the specific instance for which it is given; and (c) no
notice to or demand on one party will be deemed to be a waiver of any obligation
of that party or of the right of the party giving such notice or demand to take
further action without notice or demand as provided in this Agreement or the
documents referred to in this Agreement.

            Section 6.3 Entire Agreement and Modification. This Agreement
supersedes all prior agreements, whether written or oral, between the parties
with respect to its subject matter, and constitutes a complete and exclusive
statement of the terms of the agreement between the parties with respect to its
subject matter. This Agreement may not be amended, supplemented, or otherwise
modified except by a written agreement executed by the party to be charged with
the amendment.

                                       7
<PAGE>

            Section 6.4 Assignments, Successors and No Third-Party Rights. No
party may assign any of its rights or delegate any of its obligations under this
Agreement without the prior written consent of the other parties. Subject to the
preceding sentence, this Agreement will apply to, be binding in all respects
upon and inure to the benefit of the successors and permitted assigns of the
parties. Nothing expressed or referred to in this Agreement will be construed to
give any Person other than the parties to this Agreement any legal or equitable
right, remedy or claim under or with respect to this Agreement or any provision
of this Agreement, except such rights as shall inure to a successor or permitted
assignee pursuant to this Section.

            Section 6.5 Severability. If any provision of this Agreement is held
invalid or unenforceable by any court of competent jurisdiction, the other
provisions of this Agreement will remain in full force and effect. Any provision
of this Agreement held invalid or unenforceable only in part or degree will
remain in full force and effect to the extent not held invalid or unenforceable.

            Section 6.6 Construction. The headings of Articles and Sections in
this Agreement are provided for convenience only and will not affect its
construction or interpretation. All references to "Articles" and "Sections"
refer to the corresponding Articles and Sections of this Agreement.

            Section 6.7 Time of Essence. With regard to all dates and time
periods set forth or referred to in this Agreement, time is of the essence.

            Section 6.8 Notices. All notices, consents, waivers and other
communications required or permitted by this Agreement shall be in writing and
shall be deemed given to a party when (a) delivered to the appropriate address
by hand or by nationally recognized overnight courier service (costs prepaid);
(b) sent by facsimile or e-mail with confirmation of transmission by the
transmitting equipment, so long as such facsimile or e-mail is followed by a
copy sent by mail; or (c) received or rejected by the addressee, if sent by
certified mail, return receipt requested, in each case to the following
addresses, facsimile numbers or e-mail addresses and marked to the attention of
the person (by name or title) designated on the signature page hereof (or to
such other address, facsimile number, e-mail address or person as a party may
designate by notice to the other parties).

                                       8
<PAGE>

            Section 6.9 Governing Law; Consent to Jurisdiction. The
interpretation and construction of this Agreement, and all matters relating
hereto, shall be governed by the laws of the State of California applicable to
contracts made and to be performed entirely within the State of California. Any
proceeding, action, litigation or claim (a "Proceeding") arising out of or
relating to this Agreement or any of the transactions contemplated herein may be
brought in the courts of the State of California, County of Los Angeles, or, if
it has or can acquire jurisdiction, in the United States District Court for the
Central District of California, and each of the parties irrevocably submits to
the exclusive jurisdiction of each such court in any such Proceeding, waives any
objection it may now or hereafter have to venue or to convenience of forum,
agrees that all claims in respect of the Proceeding shall be heard and
determined only in any such court and agrees not to bring any Proceeding arising
out of or relating to this Agreement or any of the transactions contemplated
herein in any other court. The parties agree that either or both of them may
file a copy of this paragraph with any court as written evidence of the knowing,
voluntary and bargained agreement between the parties irrevocably to waive any
objections to venue or to convenience of forum. Each party hereto hereby
consents to process being served in any such action or proceeding by the mailing
of a copy thereof to the address set forth opposite its name below and agrees
that such service upon receipt shall constitute good and sufficient service of
process or notice thereof. Nothing in this paragraph shall affect or eliminate
any right to serve process in any other manner permitted by law. If, for any
reason, the waiver of a jury trial is not enforceable, then the parties agree to
resolve any dispute arising under or related to this Agreement through binding
arbitration conducted in Santa Monica, California through JAMS.

            Section 6.10 WAIVER OF JURY TRIAL. THE PARTIES HEREBY WAIVE ANY
RIGHT TO TRIAL BY JURY IN ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS
AGREEMENT OR ANY OF THE CONTEMPLATED TRANSACTIONS, WHETHER NOW EXISTING OR
HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. THE
PARTIES AGREE THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT
AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED-FOR AGREEMENT AMONG
THE PARTIES IRREVOCABLY TO WAIVE TRIAL BY JURY AND THAT ANY PROCEEDING
WHATSOEVER BETWEEN THEM RELATING TO THIS AGREEMENT OR ANY OF THE CONTEMPLATED
TRANSACTIONS SHALL INSTEAD BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A
JUDGE SITTING WITHOUT A JURY.

            Section 6.11 Execution of Agreement. This Agreement may be executed
in one or more counterparts, each of which will be deemed to be an original copy
of this Agreement and all of which, when taken together, will be deemed to
constitute one and the same agreement. The exchange of copies of this Agreement
and of signature pages by facsimile transmission shall constitute effective
execution and delivery of this Agreement as to the parties and may be used in
lieu of the original Agreement for all purposes. Signatures of the parties
transmitted by facsimile shall be deemed to be their original signatures for all
purposes.

                                       9
<PAGE>

      IN WITNESS WHEREOF, each of the parties have caused this Agreement to be
executed by their respective officers who have been duly authorized, all as of
the day and year first above written.

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

GCH CAPITAL, LTD.                               SATELLITE ENTERPRISES CORP.

BY:                                             BY:
  -----------------------------                    -----------------------------
C. Cunningham, Secretary                        Name:
                                                Title:

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

PALISADES CAPITAL, LTD.                         DOJO INVESTMENTS, LLC

BY:                                             BY:
  -----------------------------                    -----------------------------
R.H. Brietman, President                        A. Kaplan, President

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

                                       10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00094-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00094-of-00352.parquet"}]]