Document:

EMPLOYMENT CONTRACT

     This  employment  agreement is made  effective  for all purposes and in all
respects as of the 1st day of November, 1997, by and between Dimensional Visions
Group,  Ltd..,  an  Delaware  corporation   (hereinafter   referred  to  as  the
"Employer") and Roy D. Pringle, (hereinafter referred to as the "Employee").

     WHEREAS,  Employer  desires to employ  Employee  in the  capacity  of Chief
Financial Officer & Senior Vice President,  or in any other position  consistent
with Employee's status;

     WHEREAS,  Employee  desires to be employed  by  Employer  in the  aforesaid
capacity; and

     WHEREAS, Employer and Employee desire to set forth in writing the terms and
conditions of their agreements and understandings;

     NOW, THEREFORE,  in consideration of the foregoing,  of the mutual promises
herein contained, and of other good and valuable consideration,  the receipt and
sufficiency of which are hereby acknowledged,  the parties, intending legally to
be bound, agree as follows:

     1. TERM OF EMPLOYMENT.  Employer shall employ  Employee in the capacity set
forth above.  The employment shall commence on November 1, 1997 and terminate on
November 1, 2000 unless sooner  terminated in accordance  with the provisions of
paragraph  9. After  November  1,  2000,  this  Agreement  and all its terms and
provisions shall be automatically  extended from  month-to-month,  unless sooner
terminated in accordance with the provisions of this contract.

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     2. DUTIES OF EMPLOYEE.

          (a) In accepting  employment  from Employer,  Employee shall undertake
the  responsibility  of performing for and on behalf of Employer whatever duties
shall be assigned to Employee by Employer at any time and from time to time.  It
is further  understood  and agreed that any  modification  in, or expression of,
Employee's  duties  shall not  result in any  modification  in, or  increase  or
decrease of,  Employee's  compensation as stated in paragraph 3, unless Employer
specifically  shall  agree  otherwise  in a  duly  executed  amendment  of  this
Agreement.

          (b) Employee covenants and agrees that at all times during the term of
this  Agreement,  Employee  shall devote  his/her  full-time  efforts to his/her
duties as an employee of the  Employer.  Employee  further  covenants and agrees
that  he/she will not,  directly or  indirectly,  engage or  participate  in any
activities  at any time during the term of this  Agreement in conflict  with the
best interests of Employer.

     3.  COMPENSATION.  As  compensation  for the  services  to be  rendered  by
Employee for Employer under this Agreement, Employee shall be paid the following
annual salary, on a twice a month basis, during the term hereof: $60,000.00.

     4.  ADDITIONAL  BENEFITS.  In addition  to, and not in  limitation  of, the
compensation  referred to in paragraph 3,  Employee  shall receive the following
additional benefits:  such group health insurance as may be provided by Employer
from time to time;  bonus  payment as may be determined by Employer from time to
time.  Employee shall have the right to vacation,  holidays and other paid leave
as permitted by the  employee  policy  manual in effect upon the signing of this
Agreement.

     5. DISCLOSURE OF INFORMATION. Employee acknowledges that in and as a result
of his/her employment hereunder,  he/she will be making use of, acquiring and/or
adding to  confidential  information  of a special  and unique  nature and value
relating to such  matters as  Employer's  trade  secrets,  systems,  procedures,
manuals,  confidential reports, and lists of clients, and the fees paid by them.
As a material  inducement to Employer to enter into this Agreement and to pay to
Employee  the  compensation  stated in  paragraph  3, as well as any  additional
benefits stated in paragraph 4, Employee  covenants and agrees that he/she shall
not, at any time during or following the term of his/her employment, directly or
indirectly  divulge or disclose  for any  purpose  whatsoever  any  confidential
information  that has been obtained by, or disclosed to,  him/her as a result of
his/her employment by Employer. In the event of a breach or threatened breach by
Employee of any of the provisions of this paragraph 5, Employer,  in addition to
and not in limitation of, any other rights,  remedies,  or damages  available to
Employer at law or in equity,  shall be entitled  to a permanent  injunction  in
order to  prevent or  restrain  any such  breach by  Employee  or by  Employee's
partners, agents, representatives, servants, employers, employees and/or any and
all persons directly or indirectly acting for or with him/her.

     6. COVENANTS AGAINST COMPETITION.  Employee  acknowledges that the services
he/she is to render are of a special and unusual  character  with a unique value
to Employer, the loss of which cannot adequately be compensated by damages in an
action at law.  In view of the  unique  value to  Employer  of the  services  of
Employee  for  which   Employer  has  contracted   hereunder,   because  of  the
confidential  information  to  be  obtained  by or  disclosed  to  Employee,  as
hereinabove  set forth,  and as a material  inducement to Employer to enter into
this Agreement and to pay to Employee the compensation stated in paragraph 3, as
well as any additional  benefits  stated in paragraph 4, Employee  covenants and
agrees as follows:

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          (a)  During  Employee's  employment  and for a period of two (2) years
after he ceases to be  employed by  Employer,  Employee  shall not,  directly or
indirectly,  solicit  or divert  business  from,  or attempt to convert to other
methods of using the same or similar products or services  provided by Employer,
any client,  account,  or location of Employer  with which  Employee has had any
contact as a result of his/her employment with Employer.

          (b)  During  Employee's  employment  and for a period of two (2) years
after he/she ceases to be employed by Employer,  Employee shall not, directly or
indirectly, engage in the business of Employer or similar or related business in
competition  with Employer,  in any and all  geographic  areas where Employer is
actually  engaged or intends to be engaged in  business,  or where the  Employer
maintains sales or service representatives or employees.

          (c)  During  Employee's  employment  and for a period of two (2) years
after he ceases to be  employed by  Employer,  Employee  shall not,  directly or
indirectly, solicit for employment or employ any employee of Employer.

     7. ACCOUNTING FOR PROFITS.  Employee  covenants and agrees that if he shall
violate any of his covenants or agreements  under paragraph 6, Employer shall be
entitled  to  an  accounting   and  repayment  of  all  profits,   compensation,
commissions,   remuneration,   or  other  benefits  that  Employee  directly  or
indirectly has realized and/or may realize as a result of, growing out of, or in
connection with, any such violation. These remedies shall be in addition to, and
not in limitation of, any injunctive relief or other rights or remedies to which
Employer is or may be entitled at law, in equity, or under this Agreement.

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     8. REASONABLENESS OF RESTRICTIONS.

          (a) Employee has  carefully  read and  considered  the  provisions  of
paragraphs  5, 6 and 7, and,  having done so, agrees that the  restrictions  set
forth in these  paragraphs,  including,  but not  limited to, the time period of
restriction and the geographical  areas of restriction set forth in paragraph 6,
are fair and reasonable  and are  reasonably  required for the protection of the
interests of Employer and its officers, directors, and other employees.

          (b) In the  event  that,  notwithstanding  the  foregoing,  any of the
provisions   of  paragraphs  5,  6  and  7  shall  be  held  to  be  invalid  or
unenforceable,  the remaining provisions thereof shall nevertheless  continue to
be valid and  enforceable as though the invalid or  unenforceable  parts had not
been  included  therein.  In the event that any  provision  of  paragraph 5 or 6
relating to the time period and/or the areas of restriction shall be declared by
arbitration  to exceed  the  maximum  time  period  or areas  such  court  deems
reasonable and enforceable,  the time period and/or areas of restriction  deemed
reasonable  and  enforceable  by the court shall  become and  thereafter  be the
maximum time period and/or areas.

     9. TERMINATION

     A.  Notwithstanding  any other  provision  hereof,  Employer may  terminate
Employee's   employment  under  this  Agreement  at  any  time  for  cause.  The
termination shall be evidenced by written notice thereof to the Employee,  which
shall specify the cause for termination.  For purposes hereof,  the term "cause"

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shall include, without limitation,  the inability of Employee,  through sickness
or other incapacity,  to perform his duties under this Agreement for a period in
excess  of  ninety  (90)  substantially  consecutive  days;  dishonesty;  theft;
conviction  of a felony;  intoxication;  unethical  business  conduct  including
disruption of Employer's  management of its business;  and a material  breach of
this Agreement.  The term "cause" shall also include the failure of Employee for
any reason,  within ten (10) days after  receipt by  Employee of written  notice
thereof   from   Employer,   to  correct,   cease,   or   otherwise   alter  any
insubordination,  failure  to  comply  with  instructions,  or other  action  or
omission to act that in the opinion of the Employer  does or may  materially  or
adversely affect its business or operations. This contract will terminate on the
death of Employee.

     B. Notice of Termination. Any purported termination by the Company shall be
communicated  by written  Notice of  Termination  to the other  party  hereto in
accordance with Section 17 hereof (except if the event given rise to termination
is Employee's death). For purposes of this Agreement,  a "Notice of Termination"
shall mean a notice which shall indicate the specific  termination  provision in
this  Agreement  relied upon and shall set forth in reasonable  detail the facts
and  circumstances  claimed to  provide a basis for  termination  of  Employee's
employment under the provision so indicated.

     C. Compensation Upon Termination

          1. If the  Employee's  employment  by the Company  shall be terminated
without cause during the three year term of this  Agreement,  Employee  shall be
entitled to the payment of one -half her  compensation at the then current level
for  the  remainder  of  the  term.  In  the  event  of the  sale,  transfer  or
reorganization of the Company, any agreement for such shall include a commitment

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by the  surviving  entity  to  continue  payment  of such  compensation  for the
remainder  of the said  three  year  term.  If  Employee's  employment  shall be
terminated without cause following the expiration of his initial three year term
of employment:

               (I) The  Company  shall  continue  to pay the  Employee an amount
equal one half of the  Employee's  base salary at the rate in effect at the time
Notice of Termination  is given for a period of six months,  said payments to be
made at the same time and in the same manner, as if Employee had remained in the
employ of the Company; plus

               (ii) Any bonus to which the Employee would otherwise be entitled,
pro rated to the effective date of termination; plus

               (iii) All other amounts  payable to the Employee and all benefits
payable to him under any other plan or agreement relating to retirement benefits
or to  compensation  previously  earned and  deferred,  in  accordance  with the
respective terms of such plans or agreements, pro rated to a date six (6) months
following the date of termination.

     10. BURDEN AND BENEFIT.  This  Agreement  shall be binding upon,  and shall
inure to the benefit of,  Employer and  Employee,  and their  respective  heirs,
personal and legal representatives, successors, and assigns.

     11.  GOVERNING  LAW.  In view of the fact  that  the  principal  office  of
Employer  is  located  in  Arizona,   it  is  understood  and  agreed  that  the
construction and  interpretation of this Agreement shall at all times and in all
respects be governed by the laws of the State of Arizona.

     12.  ARBITRATION.  Employer and Employee agree that all disputes under this
contract  will be  subject  to  arbitration  under  the  rules  of the  American
Arbitration  Association.  Any  such  arbitration  will be  conducted  by  three
arbitrators sitting in Phoenix, Arizona, with all costs, expenses and attorney's
fees to be paid by the losing party.  Any decision of the  arbitrators  shall be
final and may be entered as judgement in a Court of competent jurisdiction.

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     13. SEVERABILITY.  The provisions of this Agreement, including particularly
but not  solely,  the  provisions  of  paragraphs  5, 6 and 7,  shall be  deemed
severable,  and the  invalidity  or  unenforceability  of any one or more of the
provisions of this Agreement shall not affect the validity and enforceability of
the other provisions.

     14.  EMPLOYER.  As used  herein,  the term  "Employer"  shall  include  any
corporation  that is at any time  the  parent  or a  subsidiary  of  Dimensional
Visions Group, Ltd.. for which Employee is providing services in any form during
the term of his/her employment under this Agreement.

     15. NOTICE. Any notice required to be given shall be sufficient if it is in
writing and sent by certified or  registered  mail,  return  receipt  requested,
first-class postage prepaid,  to his/her residence in the case of Employee,  and
to its principal office in Arizona in the case of the Employer.

     16. ENTIRE  AGREEMENT.  This  Agreement  contains the entire  agreement and
understanding  by  and  between  Employer  and  Employee  with  respect  to  the
employment  of  Employee,  and  no  representations,  promises,  agreements,  or
understandings,  written or oral, not contained  herein shall be of any force or
effect.  No change or  modification  of this Agreement shall be valid or binding
unless it is in writing and signed by the intended to be bound. No waiver of any
provision of this Agreement shall be valid unless it is in writing and signed by
the party  against whom the waiver is sought to be enforced.  No valid waiver of
any  provision  of this  Agreement  at any time  shall be deemed a waiver of any
other provision of this Agreement at such time or at any other time.

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     IN WITNESS WHEREOF, Employer and Employee have duly executed this Agreement
as of the day and year first above written.

                                        DIMENSIONAL VISIONS GROUP, LTD.

                                        SIGNATURE:______________________________

                                        TITLE:      President and C.E.O.
                                              ----------------------------------

                                        ----------------------------------------
                                        EMPLOYEE SIGNATURE

                                        9STOCK OPTION

     This STOCK OPTION is granted as of the 8th day of October  1999,  by Global
Technologies,   Ltd.,  a  Delaware   corporation   (f.k.a.   Interactive  Flight
Technologies, Inc.) (the "Company"), to Irwin L. Gross ("Grantee").

                                   BACKGROUND

     A. Grantee is the Chairman and Chief Executive Officer of Company.

     B.  Pursuant to the terms of an employment  agreement  entered into between
the Company and Grantee (the  "Employment  Agreement"),  and in recognition  and
consideration of the  contributions  that Grantee has made to the Company during
the period from September 15, 1998 to September 30, 1999 (the "Initial Period"),
during which period of time Grantee  received no compensation  from the Company,
and in order to  incentivize  Grantee with respect to the future  success of the
Company and to encourage  him to perform at increasing  levels of  effectiveness
and use his best efforts to promote the growth and profitability of the Company,
and in  consideration  of services to be  performed,  Company  desires to afford
Grantee an  opportunity to purchase  shares of its common stock,  par value $.01
per share ("Common Stock"), as hereinafter provided.

     C.  Any  capitalized  terms  used but not  defined  herein  shall  have the
meanings attributed thereto in the Employment Agreement.

     NOW,  THEREFORE,  in consideration of the mutual covenants  hereinafter set
forth  and for  other  good and  valuable  consideration,  the  parties  hereto,
intending to be legally bound, agree as follows:

1. GRANT OF OPTION.

     (a) In consideration of the contributions  that Grantee has made to Company
during the Initial Period,  the Company hereby irrevocably grants to Grantee the
right and option to purchase  ("Option  A") all or any part of an  aggregate  of
Two-Hundred  Fifty  Thousand  (250,000)  shares of Common  Stock  (the "A Option
Shares"),  at an exercise  price equal to the closing sale price (or closing bid
if no sales were  reported) of a share of Common Stock as reported by the Nasdaq
National  Market on October 7, 1999 (or the next  trading day in the event there
is no trading on such date) (the "Option  Price"),  during the Option Period (as
defined below) and subject to the conditions hereinafter set forth.

     (b) In order to  incentivize  Grantee with respect to the future success of
the  Company  and  to  encourage  him  to  perform  at   increasing   levels  of
effectiveness  and use his best efforts to promote the growth and  profitability
of the Company,  the Company hereby  irrevocably grants to Grantee the right and
option to purchase  ("Option B") all or any part of an aggregate of  Two-Hundred
Fifty Thousand  (250,000)  shares of Common Stock (the "B Option Shares") at the
Option  Price,  during the Option  Period (as defined  below) and subject to the
conditions hereinafter set forth.

     (c) In order to  further  incentivize  Grantee  with  respect to the future
success of the Company  and to further  encourage  him to perform at  increasing
levels of  effectiveness  and use his best  efforts  to  promote  the growth and
profitability of the Company,  the Company hereby  irrevocably grants to Grantee
the right and option to purchase ("Option C") all or any part of an aggregate of
Five Hundred  Thousand  (500,000) shares of Common Stock (the "C Option Shares")
at the Option Price,  during the Option Period (as defined below) and subject to
the conditions hereinafter set forth.

     (d)  Option A,  Option B and  Option C shall be  referred  to  collectively
hereinafter  as the  "Option"  and the A Option  Shares,  B Option  Shares and C
Option  Shares  shall be referred  to  collectively  hereinafter  as the "Option
Shares."

     2.  OPTION  PERIOD.  The Option may be  exercised  in  accordance  with the
provisions of Paragraphs 4 and 5 hereof  during the Option  Period,  which shall
begin on the date hereof and shall end on the Option  Expiration Date defined in
Paragraph 3 hereof.  All rights to exercise  the Option  shall  terminate on the
Option Expiration Date.

     3. OPTION  EXPIRATION DATE. The Option  Expiration Date shall be October 8,
2009.

     4. EXERCISE OF OPTION.

     (a) The Option  shall vest,  and shall be  exercisable  as set forth in the
following  table,  provided that any portion of this Option which is exercisable
in any year,  but not  exercised,  may be carried  forward and  exercised in any
future year during the term hereof:

Option A:

         From and after:            Number of Shares Exercisable
         ---------------            ----------------------------

         October 8, 1999                    250,000

Option B:

         From and after:            Number of Shares Exercisable
         ---------------            ----------------------------

         October 8, 2000                    83,334

         October 8, 2001                    83,333

         October 8, 2002                    83,333

Option C:

         Option  C  shall  vest in full on the  sixth  anniversary  of the  date
         hereof;   provided,   however,  that  vesting  of  Option  C  shall  be
         accelerated  in accordance  with the  three-year  vesting  schedule set
         forth  below in the event  that the  performance  milestones  set forth
         below are achieved.

         From and after:            Number of Shares Exercisable
         ---------------            ----------------------------

         October 8, 2000                    166,667

         October 8, 2001                    166,666

         October 8, 2002                    166,666

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     (b) The number of shares  exercisable  on each of the  accelerated  vesting
dates set forth above with respect to Option C shall be adjusted as follows:

          (i) On each accelerated vesting date, a percentage of the total number
of Options  scheduled to vest shall  actually  vest.  This  percentage  shall be
determined on the basis of a sliding scale as follows:

               (A)  100%  of the  Options  scheduled  to  vest  on a  particular
          accelerated  vesting  date shall  actually  vest in the event that the
          Comparison  Price (as defined  below) on such  vesting date is greater
          than the Base Price (as defined below) for the preceding calendar year
          by 30% or more, and this percentage shall decrease  gradually to 0% in
          the event that the  Comparison  Price on such vesting date is equal to
          or less  than the Base  Price for such  calendar  year.  In  addition,
          Grantee  shall not vest with respect to any Options  scheduled to vest
          on a particular  accelerated  vesting date unless the Comparison Price
          on that vesting date is greater than the Base Price for the  preceding
          calendar  year by at least  15%,  at which  point  50% of the  Options
          scheduled  to vest  shall  actually  vest.  The  following  example is
          illustrative  - Grantee  would vest with respect to 50% of the 166,666
          Options scheduled to vest on October 8, 2001 (i.e. 83,333 Options), in
          the  event  that the  Comparison  Price on such  vesting  date was 15%
          greater  than  the  Base  Price  for  the  preceding   calendar  year;
          alternatively,  Grantee  would vest with respect to 75% of the 166,666
          Options  scheduled  to vest  on  such  vesting  date  (i.e.  124,999.5
          Options) in the event that the  Comparison  Price on such vesting date
          is 22.5% greater than the Base Price for the preceding  calendar year.
          Any fraction less than a half resulting from these  calculations shall
          be dropped and any fractions equal to or greater than a half resulting
          from these  calculations  shall require  rounding up to the next whole
          number.

               (B) The  guidelines  set forth in  paragraph  (A) above  shall be
          modified as follows for any of  calendar  years 2000,  2001 or 2002 in
          the event that the S & P 500 Comparison Average (as defined below) for
          any of such  calendar  years  is less  than  the S & P 500  Comparison
          Average for the preceding calendar year. In any calendar year in which
          this occurs,  vesting with respect to 50% of the  aggregate  number of
          Options scheduled to vest in such calendar year shall be determined as
          set forth in  paragraph  (A) above,  and the  balance of such  Options
          shall vest in the event that EVA (as  defined  below) is greater  than
          zero,  or, in the event that EVA is less than or equal to zero,  shall
          not vest on an accelerated basis.

          (ii) (A) "Base  Price"  means the average of the last sale prices of a
share of Common  Stock (or the last bid on any such day on which  there  were no
sales)  as  reported  by the  Nasdaq  National  Market  on  each  of the 31 days
consisting of the 15 trading days immediately  preceding September 30, September
30  (regardless  of whether or not it is a trading day), and the 15 trading days
immediately following September 30. "Comparison Price" means the last sale price

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of a share of Common  Stock as  reported  by the Nasdaq  National  Market on the
applicable vesting date (or the last bid if there were no sales on such date; or
the next trading day in the event that there was no trading on such date).

               (B) "S & P 500  Comparison  Average"  means  the  average  of the
          Standard & Poor's 500  Composite  Index as of the close of business on
          each of the 31 days  consisting  of the 15  trading  days  immediately
          preceding  September 30, September 30 (regardless of whether or not it
          is a  trading  day)  and the 15  trading  days  immediately  following
          September 30. "EVA" means  Economic Value Added of the Company for the
          fiscal year ending  June 30 of the  calendar  year for which the S & P
          500 Comparison  Average is being calculated,  calculated in accordance
          with the memorandum provided to the Company's  Compensation  Committee
          by David N.  Shevrin on November 19, 1999 (a copy of which is attached
          hereto as Exhibit "A").

          (iii)  Notwithstanding  anything  to the  contrary  contained  in this
subparagraph (b), the failure of the Comparison Price on any accelerated vesting
date to be greater than the Base Price for the preceding calendar year by 30% or
more (a "Shortfall")  can be made up (i.e. any percentage of Options not vesting
on the relevant  accelerated  vesting date because of a Shortfall  would vest on
the subsequent accelerated vesting date on which the following condition is met)
if the compounded annual growth rate in the price of a share of Common Stock was
such that the  Comparison  Price on the next  accelerated  vesting  date (or the
accelerated  vesting date after that one, depending on which accelerated vesting
date is the one on which the Shortfall  occurred) is greater than the Base Price
for the  calendar  year  preceding  the  accelerated  vesting  date on which the
Shortfall  occurred by 30% or more.  For  example,  if the  Comparison  Price on
October 8, 2000 is greater than the Base Price for 1999 by 20%  (resulting  in a
Shortfall, i.e. only 66.67% of the Options scheduled to vest on such accelerated
vesting date would actually vest) and the Comparison Price on October 8, 2001 is
greater  than the Base Price for 1999 by at least  40.83%,  then the  Comparison
Price on October 8, 2001 would have increased with respect to the Base Price for
1999 at a compounded annual growth rate of 30%. In this scenario,  on October 8,
2001, not only would 100% of the Options scheduled to vest on such date actually
vest,  but also the 33.33% of the Options  scheduled  to vest on October 8, 2000
that did not so vest because of the Shortfall would actually vest.

     (c) Notwithstanding  anything to the contrary contained herein, Grantee may
purchase  all  or  any  portion  of  the  unexercised  balance  of  this  Option
immediately  prior to, or upon,  the  effective  date of a Change of Control (as
defined in the following  sentence).  A "Change of Control" of the Company shall
mean any transaction or series of related  transactions that results in a change
in the control of the Company, including, without limitation:

          (i) a merger or  consolidation  of the Company  into or with any other
entity  when  the  Company  is not  the  surviving  entity  of  such  merger  or
consolidation;

          (ii) the  acquisition,  directly  or  indirectly,  by any  individual,
entity or "group" (as defined in Section  13(d) of the  Securities  and Exchange
Act of 1934, as amended) (other than the Company,  any subsidiary  thereof,  any
employee  benefit plan of the Company or any  subsidiary,  or any entity holding
shares or other securities of the Company for or pursuant to the terms of such a
plan)  (an  "Acquirer"),  of  stock  or  options,  or any  combination  thereof,
entitling the Acquirer to cast 25% or more of all votes  (without  consideration
of the rights of any class of stock to elect directors by a separate class vote)

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<PAGE>
entitled  to be cast by all  stockholders  of the  Company in an election of the
Board of Directors of the Company;

          (iii) the  acquisition,  directly or  indirectly,  by an Acquirer of a
majority of the total equity interest of the Company;

          (iv) the sale or other  disposition of all, or  substantially  all, of
the assets of the Company;

          (v)  the  election  to  the  Board  of  Directors  of the  Company  of
individuals who would  constitute a majority of the members of the Board elected
at any meeting of stockholders or by written consent  (without  consideration of
the rights of any class of stock to elect  directors by a separate  class vote),
where the election or the nomination for election by the Company's  stockholders
of such  directors  was not  approved  by a vote of at least a  majority  of the
directors in office immediately prior to such election or nomination; or

          (vi) the formation of a joint venture or partnership  with the Company
for the purpose of  effecting  a transfer of control of, or a material  interest
in, the Company (such merger,  consolidation,  sale or other  transaction  being
hereinafter referred to as a "Transaction").

     There shall be excluded from the foregoing any  Transaction  as a result of
which (A) the holders of Common Stock prior to the Transaction retain or acquire
securities constituting a majority of the outstanding voting common stock of the
acquiring or surviving  corporation  or other entity in  substantially  the same
proportions   that  they  owned  Common  Stock  in  the  Company  prior  to  the
Transaction,  and (B) no  single  person  or  entity  owns more than half of the
outstanding  voting  common stock of the acquiring or surviving  corporation  or
other  entity.  For  purposes of this  Paragraph  4, voting  common stock of the
acquiring  or  surviving  corporation  or other  entity  that is  issuable  upon
conversion  of  convertible  securities  or upon exercise of warrants or options
shall be considered outstanding, and all securities that vote in the election of
directors  (other  than  solely as the  result of a default in the making of any
dividend or other payment)  shall be deemed to constitute  that number of shares
of voting  common stock which is equivalent to the number of such votes that may
be cast by the holders of such securities.

     5. MANNER OF  EXERCISE.  Exercise of the  Option,  or any portion  thereof,
shall be by written  notice to Company  pursuant  to  Paragraph  11 hereof.  The
notice shall be accompanied by payment in full in cash, stock of the Company, or
other property  (including notes or other contractual  obligations of Grantee to
make  payment  on  a  deferred  basis,  such  as  through   "cashless   exercise
arrangements,"  to the extent  permitted by  applicable  law),  or a combination
thereof, in an amount equal to the product obtained by multiplying the number of
Option  Shares with  respect to which the Option is then being  exercised by the
Option Price. Upon receipt of such notice and payment, the Company shall deliver
a certificate or  certificates  representing  the Option Shares  purchased.  The
certificate or  certificates  shall be delivered to or upon the written order of
the Grantee.  Despite the fact that a certificate or  certificates  representing
the Option  Shares  purchased  shall not have been issued,  Grantee or his legal
representative, legatees or distributees, as the case may be, shall be deemed to
be a holder of any shares  subject to this  Option,  provided  that the  written
notice and payment  required by this Paragraph 5 have been delivered to Company.
The Option  Shares that shall be  purchased  upon the  exercise of the Option as
provided herein shall be fully paid and non-assessable.

                                       6
<PAGE>
     6. RIGHTS IN EVENT OF DEATH, DISABILITY OR TERMINATION OF EMPLOYMENT.

     (a) DEATH.  If Grantee dies while employed by the Company,  then 50% of any
then unvested Options shall  automatically  vest (without any action on the part
of the Company) on the date of death.  The 50% of the then unvested Options that
shall vest  according  to the  preceding  sentence  shall be the 50% of the then
unvested  Options that otherwise  would have been the latest to vest of all then
unvested  Options.  The remainder of any then unvested Options shall continue to
vest according to the schedule set forth in Paragraph 4 above.  Grantee's  named
beneficiary  shall have  through  the Option  Expiration  Date to  exercise  any
unexercised Options.

     (b)  DISABILITY.  If Grantee is  terminated  from his  employment  with the
Company by reason of  disability in accordance  with the  Employment  Agreement,
then 50% of any then  unvested  Options  shall  automatically  vest (without any
action on the part of the Company) on the date of such  termination.  The 50% of
the then unvested  Options that shall vest  according to the preceding  sentence
shall be the 50% of the then unvested Options that otherwise would have been the
latest to vest of all then unvested Options.  The remainder of any then unvested
Options shall  continue to vest according to the schedule set forth in Paragraph
4 above.  Grantee shall have through the Option  Expiration Date to exercise any
unexercised Options.

     (c) CAUSE OR RESIGNATION. If Grantee is terminated from his employment with
the Company for Cause (as defined in the  Employment  Agreement)  in  accordance
with the Employment  Agreement or  voluntarily  leaves the employ of the Company
prior to expiration of the Employment Agreement, then all unvested Options shall
automatically  terminate and be cancelled (without any action on the part of the
Company) on the effective date of termination.  In addition,  Grantee shall have
the  opportunity  on the  date  of  such  termination  for  Cause  or  Grantee's
voluntarily  leaving  the  employ of the  Company  to  exercise  all  vested but
unexercised  Options.  All  vested  Options  not  exercised  on such date  shall
thereafter automatically expire (without any action on the part of the Company).

     (d) WITHOUT CAUSE.  If Grantee is terminated  from his  employment  without
Cause or terminates his  employment  with Company for Good Reason (as defined in
the Employment Agreement) in accordance with the Employment Agreement,  then all
unvested Options shall automatically vest (without any action on the part of the
Company)  immediately prior to the date of such termination.  Grantee shall have
through the Option Expiration Date to exercise any unexercised Options.

     7.  OPTION  SHARES TO BE  PURCHASED  FOR  INVESTMENT.  Unless  Company  has
notified Grantee  pursuant to Paragraph 11 hereof that a registration  statement
covering the Option  Shares has become  effective  under the  Securities  Act of
1933,  as amended  (the  "Act"),  it shall be a condition to the exercise of the
Option that the Option  Shares  acquired  upon such  exercise  be  acquired  for

                                       7
<PAGE>
investment and not with a view to distribution. If requested by the Company upon
advice of its  counsel  that the same is  necessary  or  desirable,  the Grantee
shall,  at the time of  purchase  of the Option  Shares,  deliver to the Company
Grantee's  written  representation  that  Grantee (a) is  purchasing  the Option
Shares  for his own  account  for  investment,  and  not  with a view to  public
distribution or with any present intention of reselling any of the Option Shares
(other  than  a  distribution  or  resale  which,  in  the  opinion  of  counsel
satisfactory  to the Company,  may be made without  violating  the  registration
provisions of the Act); (b) has been advised and understands that (i) the Option
Shares have not been registered under the Act and are subject to restrictions on
transfer  and (ii) the Company is under no  obligation  to  register  the Option
Shares  under the Act or to take any action  which would make  available  to the
Grantee  any  exemption  from such  registration;  and (c) has been  advised and
understands  that such Option Shares may not be transferred  without  compliance
with all applicable federal and state securities laws.

     8. CHANGES IN CAPITAL  STRUCTURE.  The number of Option  Shares  covered by
this Option and the Option Price shall be  equitably  adjusted in the event (the
"Event")  of (i) the  payment of any  dividend  payable in, or the making of any
distribution  of,  Common  Stock to  holders  of record of Common  Stock,  which
increases the  outstanding  Common Stock;  (ii) any stock split,  combination of
shares,   recapitalization  or  other  similar  change;   (iii)  the  merger  or
consolidation  of the  Company  into or  with  any  other  entity;  or (iv)  the
reorganization,  dissolution,  liquidation or winding up of the Company. Grantee
shall be  entitled,  upon the  exercise  of the  Option,  to  receive  such new,
additional or other shares of stock of any class, or other property  (including,
without limitation,  cash and/or securities of any successor entity), as Grantee
would have been entitled to receive as a matter of law in  connection  with such
Event had Grantee held the Option  Shares on the record date set for such Event.
The Company  shall have the authority to determine  the  adjustments  to be made
under this Paragraph 8 and any such  determination  shall be final,  binding and
conclusive.

     9. LEGAL REQUIREMENTS. If the listing, registration or qualification of the
Option Shares upon any securities exchange or under any federal or state law, or
the consent or approval of any  governmental  regulatory  body is necessary as a
condition  of or in  connection  with the  purchase  of the Option  Shares,  the
Company shall not be obligated to issue or deliver the certificates representing
the Option  Shares as to which the Option  has been  exercised  unless and until
such listing, registration,  qualification,  consent or approval shall have been
effected or obtained.  This Option does not hereby  impose on the Company a duty
to so list,  register,  qualify,  or effect or obtain  consent or  approval.  If
registration  is  considered  unnecessary  by the  Company or its  counsel,  the
Company  may  cause a legend to be placed  on the  certificates  for the  Option
Shares being issued  calling  attention to the fact that they have been acquired
for investment and have not been registered, such legend to read as follows:

         "THE SECURITIES  REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
         REGISTERED  UNDER THE SECURITIES  ACT OF 1933, AS AMENDED,  OR
         ANY STATE  SECURITIES  LAWS,  AND MAY NOT BE OFFERED FOR SALE,
         SOLD OR OTHERWISE  TRANSFERRED  UNLESS THERE IS A REGISTRATION
         STATEMENT  IN  EFFECT  COVERING  SUCH  SECURITIES  OR THERE IS
         AVAILABLE AN EXEMPTION FROM THE  REGISTRATION  REQUIREMENTS OF
         THE SECURITIES ACT OF 1933, AS AMENDED,  AND APPLICABLE  STATE
         SECURITIES LAWS."

                                       8
<PAGE>
     10.  NO  OBLIGATION  TO  EXERCISE  OPTION.  The  Grantee  shall be under no
obligation to exercise the Option.

     11.  NOTICES.  All notices  required  or  permitted  hereunder  shall be in
writing and shall be deemed to be properly  given when  personally  delivered to
the party entitled to receive the notice or when sent by certified or registered
mail, postage prepaid,  properly addressed to the party entitled to receive such
notice at the address stated below; or when sent via facsimile transmission with
confirmation of transmission  or via electronic  mail,  provided that in both of
the  foregoing  situations  a copy of the notice so  transmitted  is sent to the
party entitled to receive such notice via first-class  mail,  postage prepaid at
the address stated below:

           If to Company: Global Technologies, Ltd.
                          1811 Chestnut Street, Suite 120
                          Philadelphia, PA  19103
                          Attention:  Chief Executive Officer and President
                          Facsimile: (215) 972-8183
                          E-mail: oceancastle@erols.com

           If to Grantee: Irwin L. Gross
                          722 Pine Street
                          Philadelphia, PA 19106

     Either party hereto may change such party's  address,  facsimile  number or
e-mail  address  by  sending  notice  thereof  to the other  party by any of the
methods set out above,  provided that such change shall not be deemed  effective
as against the party to whom it is sent until the notice  containing such change
is actually received by such party.

     12. ADMINISTRATION. This Option has been granted pursuant to the Employment
Agreement and is subject to the terms and provisions  thereof.  All questions of
interpretation  and  application  of this  Option  shall  be  determined  by the
Company, and such determination shall be final, binding and conclusive.

     13. NOT AN EMPLOYMENT OR SERVICE CONTRACT.  Nothing in this Option shall be
construed as an agreement by the Company,  express or implied, to employ Grantee
or contract  for  Grantee's  services,  to restrict  the right of the Company to
discharge  Grantee or cease  contracting  for  Grantee's  services or to modify,
extend or otherwise affect in any manner whatsoever, the terms of any employment
agreement or contract for services  which may exist  between the Grantee and the
Company.

     14. SUCCESSORS AND ASSIGNS.  This Agreement shall be binding upon and inure
to the  benefit  of the  parties  hereto  and their  respective  successors  and
assigns.

                                       9
<PAGE>
     15.  GOVERNING LAW. This Agreement shall be governed by and construed under
the  laws  of the  State  of  Delaware  without  regard  to  conflicts  of  laws
principles.

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

     17. AMENDMENT. This Agreement may not be amended except by an instrument in
writing signed by the parties.

                                       10
<PAGE>
     IN WITNESS WHEREOF, the undersigned have hereunto set their hands as of the
date first above written.

                                          GLOBAL TECHNOLOGIES, LTD.

                                          By: /s/ James W. Fox
                                              ----------------------------------
                                              James W. Fox, President and COO

                                              /s/ Irwin L. Gross
                                              ----------------------------------
                                                   Irwin L. Gross

                                       11
<PAGE>
                                   EXHIBIT "A"

                                  See attached.

                                       12

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