Document:

Exhibit 4.17

                   FINANCIAL ADVISORY AND CONSULTING AGREEMENT

     This  agreement  ("Agreement")  is made and  entered  into this 12th day of
April, 2001 among Global Technologies,  Ltd., a Pennsylvania corporation ("GT"),
Equilink  Capital  Partners,   LLC,  a  New  York  limit  liability  corporation
("Equilink") and National Securities Corporation ("National").

                                    RECITALS:

     GT and Equilink are parties to a Financial Consulting  Agreement,  dated as
of March 22,  2001 (the  "Consulting  Agreement"),  pursuant to which GT engaged
Equilink.  As  contemplated by Section 7 of the Consulting  Agreement,  Equilink
wishes  to  engage  National  as its  advisor,  to  aid  Equilink  in  providing
consulting services to GT.

     NOW,  THEREFORE,  in  consideration  of the  premises  and mutual  promises
contained herein, the parties,  intending to be legally bound for themselves and
their respective heirs, legal representatives,  successors and assigns, agree as
follows:

     1. PURPOSE.  Equilink  hereby  retains  National on a  non-exclusive  basis
during  the  Engagement  Period (as  hereinafter  defined)  specified  to render
financial  advice to Equilink in connection  with  Equilink's  engagement by GT.
National  shall  provide  Equilink  with the  benefits of its best  judgment and
efforts.  It is understood and  acknowledged  by the parties that National shall
not be  obligated  to  spend  any  specific  amount  of time  performing  duties
hereunder.

     2. TERM AND  CONSIDERATION.  This Agreement shall be effective for a period
of twelve months  commencing  on the date first  written above (the  "Engagement
Period").  Global shall issue to National,  upon execution of this Agreement,  a
warrant substantially in the form of EXHIBIT A attached hereto.

     3. FINANCIAL  ADVISORY  SERVICES.  National,  based on its discussions with
Equilink,  believes  that it may assist  Equilink by  performing  the  following
financial  advisory  services (the "Financial  Advisory  Services") and National
shall be limited to providing only those such Financial Advisory Services.

     (i)  Advising  Equilink  on GT's  corporate  sponsorship  and  exposure  in
          connection with the  dissemination of GT corporate  information to the
          investment community at large;

     (ii) Advising  Equilink on GT's financial  structure of its business model,
          as such relates to the public market for GT's equity securities;

    (iii) Advising  Equilink  on GT's  acquisition  strategy,  as  such  program
          relates to the public market for the GT's equity securities;

     (iv) Advising  Equilink on the timing and  structure  of any future  public
          offering or private placement of the GT's equity securities.
<PAGE>
     In connection with National  providing the Financial  Advisory  Services to
Equilink,  Equilink and GT shall  provide  National  with any  information  that
National deems  appropriate.  Equilink and GT hereby  acknowledges that National
will be using and relying on said information without  independent  verification
and that National assumes no responsibility for the accuracy and completeness of
any  information  provided to it. Should Equilink desire National to provide any
financial  advisory  services not listed above,  the parties shall enter into an
additional  engagement  letter and National's  compensation  for such additional
services shall be set forth therein.

     4.  RELATIONSHIPS  WITH OTHERS.  Equilink and GT acknowledge  that National
and/or its  affiliates  are in the  business of  providing  investment  banking,
financial advisory and consulting  services to others.  Nothing herein contained
shall be construed to limit or restrict  National in  conducting  such  business
with respect to others, or in rendering such services to others.

     5. CONFIDENTIAL  INFORMATION.  In connection with the rendering of services
hereunder,  National has been or will be furnished with confidential information
concerning  GT  including,   but  not  limited  to,  financial   statements  and
information,  cost and expense data,  production data, trade secrets,  marketing
and customer data, and such other information not generally obtained from public
or published  information or trade  sources.  Such  information  shall be deemed
"Confidential  Material"  and,  except  as  contemplated  hereby,  shall  not be
disclosed by National without prior written consent of GT. In the event National
is  required  by  applicable  law  or  legal  process  to  disclose  any  of the
Confidential  Material,  it is agreed that  National  will  deliver to GT prompt
notice of such requirement  prior to disclosure of same to permit the GT to seek
an appropriate  protective order and/or waive compliance of this provision.  If,
in the absence of a protective  order or receipt of written waiver,  National is
nonetheless,  in the written  opinion of its counsel,  compelled to disclose any
Confidential  Material,  National may do so without liability hereunder provided
that notice of such  prospective  disclosure  is delivered to GT prior to actual
disclosure. Following the termination of this Agreement and a written request by
GT, National shall deliver to GT all Confidential Material.

     6. NATIONAL'S LIABILITY & INDEMNIFICATION OF NATIONAL BY EQUILINK AND GT.

     (a)  In the absence of gross  negligence or willful  misconduct on the part
          of National or National's material breach of this Agreement,  National
          shall not be liable to  Equilink  nor GT,  nor to any their  officers,
          directors,   employees,  agents,   representatives,   stockholders  or
          creditors  for  any  action  or  omission  of  National  or any of its
          officers,   directors,    employees,   agents,    representatives   or
          stockholders  in the course of, or in  connection  with,  rendering or
          performing  any  services  hereunder.  Any  liability  of  National in
          connection  with this Agreement shall be limited to the aggregate fees
          received by National  hereunder,  and shall not include any  liability
          for incidental, consequential or punitive damages.
<PAGE>
     (b)  Equilink and GT agree to  indemnify  National in  accordance  with the
          terms of the  indemnification  agreement attached hereto as Exhibit A,
          which is incorporated by reference in its entirety into this Agreement
          and made a part hereof.

     7.  EXPENSES.   GT  shall   reimburse   National  for  all  of  its  actual
out-of-pocket  expenses up to $5000.  Any  additional  expense above this amount
should be agreed upon both parties,  including but not limited to travel,  legal
fees, printing, and other expenses, incurred in connection with the provision of
services hereunder.  National will not bear any of the Equilink's or GT's legal,
accounting,  printing  or other  expenses  in  connection  with any  transaction
considered or consummated hereby.  Unless otherwise  specifically stated herein,
neither  National,  its affiliated  companies  (including,  without  limitation,
Olympic Cascade Financial Corporation), nor their directors, employees or agents
is responsible  for any fees or commissions  payable now or in the future to any
finder or to any other  financial  or other  advisor  utilized  or  retained  by
Equilink  or GT.  Reimbursable  expenses  will be billed by  National to GT on a
monthly basis and GT shall pay such expenses within ten days of receiving such a
bill.

     8. MERGER & ACQUISITION ADVISORY SERVICES.  If Equilink desires National to
provide merger/acquisition advice on GT and GT consummates an acquisition of, or
merger with, another business (a "Business  Combination")  during the Engagement
Period,  then GT shall pay National fees and other forms of  compensation as are
customarily received by investment bankers in similar  transactions.  National's
role and specific compensation with respect to any Business Combination shall be
subject to an additional  engagement letter to be executed by National and GT at
such time as is appropriate.

     9. LIMITATION UPON THE USE OF ADVICE AND SERVICES.

     (a)  No  person  or  entity,  other  than  Equilink  and GT or any of their
          subsidiaries or directors or officers of each of the foregoing,  shall
          be entitled to make, use of, or rely upon the advice of National to be
          given  hereunder,  and Equilink and GT shall not transmit  such advice
          to, or encourage or facilitate the use or reliance upon such advice by
          others without the prior written consent of National.

     (b)  Equilink  and GT  hereby  acknowledges  that  National,  for  services
          rendered  as  contemplated  by this  Agreement,  makes  no  commitment
          whatsoever  to  recommend  or  advise  its  clients  to  purchase  the
          securities of GT. Research  reports or corporate  finance reports that
          may be prepared by National will, when and if prepared, be done solely
          on the merits or judgment  of  analysts  of National or any  corporate
          finance personnel of National.

     (c)  Equilink  and GT  hereby  acknowledges  that  National,  for  services
          rendered  as  contemplated  by this  Agreement,  makes  no  commitment
          whatsoever  to make a market  in any of GT's  securities  on any stock
          exchange or in any electronic marketplace. Any decision by National to
<PAGE>
          make a market in any of the GT's  securities  shall be based solely on
          the  independent  judgment of National's  management,  employees,  and
          agents.

     (d)  Use of  National's  name in  annual  reports  or any  other  report or
          release  of  Equilink  or GT require  the prior  written  approval  of
          National  unless  Equilink  or  GT  is  required  by  law  to  include
          National's  name in such annual reports,  other report or release,  in
          which  event  Equilink  or GT, as the case may be,  shall  furnish  to
          National  copies of such annual  reports or other  reports or releases
          using National's name in advance of publication.

     10.  TERMINATION.  This  Agreement may be terminated at any time during the
Engagement  Period  by  National  upon  five (5) days  prior  written  notice to
Equilink,  in the event  that  National  becomes  aware of (i) any change in the
business or operations of Equilink or GT which National  reasonably believes may
adversely  affect  National's  ability  to  render  the  services   contemplated
hereunder,  (ii) any  misrepresentation  by Equilink or GT with  respect to GT's
business  operations,  assets,  condition  (financial or otherwise),  results of
operations  or  prospects,  or (iii) any breach by the  Equilink  or GT of their
obligations under this Agreement.

     In the event of termination (i) this Agreement  shall become void,  without
liability  on the part of National  or its  affiliates,  directors,  officers or
stockholders,  and (ii)  National  shall be entitled to retain the  Warrants and
receive  compensation  for  services  it has  rendered,  including  payment  for
expenses it has incurred up to the date of such termination.

     11. DISCRETION. Nothing contained herein shall require GT to enter into any
transaction based on services  provided by National;  any such decision shall be
at the GT's sole discretion.

     12. SEVERABILITY.  Any term or provision of this Agreement which is invalid
or  unenforceable  in  any  jurisdiction  shall,  as to  that  jurisdiction,  be
ineffective  to the  extent  of  such  invalidity  or  unenforceability  without
rendering  invalid or  unenforceable  the remaining terms and provisions of this
Agreement or affecting  the  validity or  enforceability  of any of the terms or
provisions of this Agreement in any other jurisdiction. If any provision of this
Agreement is so broad as to be unenforceable, the provision shall be interpreted
to be only so broad as is enforceable.

     13. MISCELLANEOUS.

     (a)  Any  notice or  communication  between  the  parties  hereto  shall be
          sufficiently  given if sent by certified or registered  mail,  postage
          prepaid, or faxed and confirmed if to:
<PAGE>
          National at:
          National Securities Corporation
          1001 Fourth Avenue, Suite 2200
          Seattle, Washington 98154
          Fax:  413-581-6527

          Equilink at:
          Equilink Capital Partners
          488 Madison Avenue
          New York, NY  10022
          Fax:  212-755-8650

          Global Technologies at:
          1811 Chestnut Street, Suite 120
          Philadelphia, PA  19103
          Fax:  215-972-8183

          Notices  or other  communications  shall be  deemed to be given on the
          date of receipt.

     (b)  If National shall cease to do business, the provisions hereof relating
          to duties of National  and  compensation  by Equilink as it applies to
          National  shall  thereupon  cease  to be in  effect,  except  for  the
          Equilink's  obligation of payment for services rendered prior thereto.
          This  Agreement  shall  survive  any  merger  of,  acquisition  of, or
          acquisition by National and after any such merger(s) or acquisition(s)
          shall be binding upon Equilink and GT and the  corporations  surviving
          such merger(s) or acquisition(s).

     (c)  This Agreement embodies the entire agreement and understanding between
          the parties and supersedes any and all negotiations, prior discussions
          and preliminary and prior agreements and understandings related to the
          subject  matter  hereof,  and  may  be  modified  only  by  a  written
          instrument duly executed by each party.

     (d)  This Agreement has been duly authorized, executed and delivered by and
          on behalf of the Equilink, GT and National.

     (e)  This Agreement  shall be construed and  interpreted in accordance with
          the laws of the State of Washington, without regard to its conflict of
          laws rules.

     (f)  There is no relationship of partnership, agency, employment, franchise
          or joint venture between the parties.  Neither party has the authority
          to bind the other or incur any obligation on the other's behalf.

     (g)  Equilink and GT hereby acknowledge that National is not a fiduciary of
          either party, and that National makes no representations or warranties
          regarding  GT's  ability to secure  financing,  whether  now or in the
          future.

     (h)  This Agreement and the rights  hereunder may not be assigned by either
          party (except by operation of law) and shall be binding upon and inure
          to  the  benefit  of  the  parties  and  their  respective   permitted
          successors, assigns and legal representatives.
<PAGE>
     IN WITNESS  WHEREOF,  the parties hereto have executed this Agreement as of
the date hereof.

GLOBAL TECHNOLOGIES, LTD.               EQUILINK CAPITAL PARTNERS, L.P.

/s/ Irwin Gross                         /s/ Robert DePalo
-----------------------------------     ----------------------------------------
Name: Irwin Gross                       Name:  Robert DePalo
Title: Chairman                         Title:

NATIONAL SECURITIES CORPORATION

By: /s/ Steven A. Rothstein
   -------------------------------
Name: Steven A. Rothstein
Title: Chairman
<PAGE>
                                    EXHIBIT A

                                 INDEMNIFICATION

     Recognizing that  transactions of the type  contemplated in this engagement
sometimes  result  in  litigation  and that  National  Securities  Corporation's
("National")  role is  advisory,  Global  Technology,  Ltd.  ("GT") and Equilink
Capital Partners, LP ("Equilink") agree to indemnify and hold harmless National,
its affiliates  (including  Olympic  Cascade  Financial  Corporation)  and their
respective  officers,  directors,  employees,  agents  and  controlling  persons
(collectively,  the "Indemnified Parties"), from and against any losses, claims,
damages and liabilities,  joint or several,  related to or arising in any manner
out  of any  transaction,  proposal  or  any  other  matter  (collectively,  the
"Matters")  contemplated  by the  engagement  of  National  hereunder,  and will
promptly  reimburse  the  Indemnified   Parties  for  all  expenses   (including
reasonable  fees and expenses of legal  counsel) as incurred in connection  with
the investigation  of,  preparation for, or defense of any pending or threatened
claim related to or arising in any manner out of any Matter  contemplated by the
engagement of National hereunder,  or any action or proceeding arising therefrom
(collectively, "Proceedings"), whether or not such Indemnified Party is a formal
party to any such  Proceeding.  Notwithstanding  the  foregoing,  neither GT nor
shall be liable in  respect  to any  losses,  claims,  damages,  liabilities  or
expenses that a court of competent  jurisdiction  shall have determined by final
judgment  resulted solely from the gross negligence or willful  misconduct of an
Indemnified Party. Equilink and GT further agree that each will not, without the
prior written consent of National,  settle compromise or consent to the entry of
any  judgment  in any  pending  or  threatened  Proceeding  in  respect of which
indemnification  may  be  sought  hereunder  (whether  or  not  National  or any
Indemnified  Party is an actual or potential party to such  Proceeding),  unless
such  settlement,  compromise or consent  includes an  unconditional  release of
National and each other  Indemnified  Party hereunder from all liability arising
out of such Proceeding.

     Equilink and GT agree that if any  indemnification or reimbursement  sought
pursuant  to  this  letter  were  for  any  reason  not to be  available  to any
Indemnified  Party or  insufficient  to hold it  harmless  as and to the  extent
contemplated by this letter, then Equilink and GT shall contribute to the amount
paid or payable by such Indemnified Party in respect of losses,  claims, damages
and  liabilities  in such  proportion as is  appropriate to reflect the relative
benefits to Equilink and GT and their stockholders on the one hand, and National
on the other,  in connection with the Matters to which such  indemnification  or
reimbursement relates or, if such allocation is not permitted by applicable law,
not only such relative  benefits but also the relative faults of such parties as
well as any  other  equitable  considerations.  It is  hereby  agreed  that  the
relative  benefits  to the  Equilink  and GT and/or  their  stockholders  and to
National with respect to National's engagement shall be deemed to be in the same
proportion  as (i) the total value paid or received or to be paid or received by
Equilink and GT and/or their  stockholders  pursuant to the Matters  (whether or
not  consummated) for which National is engaged to render services bears to (ii)
the fees paid to National in connection with such engagement.  In no event shall
the  Indemnified  Parties  contribute  or  otherwise  be liable for an amount in
excess of the aggregate amount of fees actually received by National pursuant to
such engagement  (excluding amounts received by National as reimbursement of the
expenses).
<PAGE>
     Equilink  and GT further  agree that no  Indemnified  Party  shall have any
liability  (whether  direct or indirect,  in contract or tort or  otherwise)  to
Equilink  and/or GT for or in connection with  National's  engagement  hereunder
except for losses,  claims,  damages,  liabilities  or expenses  that a court of
competent  jurisdiction  shall have determined by final judgment resulted solely
from the gross negligence or willful  misconduct of such Indemnified  Party. The
indemnity,  reimbursement and contribution  obligations of Equilink and GT shall
be in addition to any liability  which  Equilink and GT may  otherwise  have and
shall be binding upon and inure to the benefit of any successors, assigns, heirs
and personal representatives of Equilink and GT or an Indemnified Party.

     The indemnity,  reimbursement and contribution  provisions set forth herein
shall  remain  operative  and in full  force and  effect  regardless  of (i) any
withdrawal,  termination or consummation of or failure to initiate or consummate
any Matter referred to herein,  (ii) any  investigation  made by or on behalf of
any party hereto or any person controlling  (within the meaning of Section 15 of
the Securities Act of 1933 as amended,  or Section 20 of the Securities Exchange
Act of 1934,  as  amended)  any  party  hereto,  (iii)  any  termination  or the
completion  or  expiration  of this  letter of  National's  engagement  and (iv)
whether or not National shall, or shall not be called upon to, render any formal
or informal advice in the course of such engagement.Exhibit 4.18

NEITHER  THIS WARRANT NOR THE SHARES  ISSUABLE  UPON  EXERCISE  HEREOF HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE  "SECURITIES  ACT")
OR ANY OTHER  APPLICABLE  SECURITIES LAWS IN RELIANCE UPON AN EXEMPTION FROM THE
REGISTRATION  REQUIREMENTS OF THE SECURITIES ACT AND SUCH OTHER SECURITIES LAWS.
NEITHER THIS WARRANT NOR THE SHARES  ISSUABLE UPON EXERCISE  HEREOF MAY BE SOLD,
PLEDGED, TRANSFERRED,  ENCUMBERED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN
EFFECTIVE  REGISTRATION  STATEMENT  UNDER THE SECURITIES ACT OR IN A TRANSACTION
WHICH IS EXEMPT FROM REGISTRATION UNDER THE PROVISIONS OF THE SECURITIES ACT.

                             STOCK PURCHASE WARRANT

              To Purchase 100,000 Shares of Class A Common Stock of

                            GLOBAL TECHNOLOGIES, LTD.

     THIS CERTIFIES that, for value received,  National  Securities  Corporation
(the  "Holder"),  is  entitled,  upon the terms and  subject  to the  conditions
hereinafter set forth, at any time on or after the April 12, 2001 (the "Issuance
Date")  and on or prior  to the  close  of  business  on  April  12,  2006  (the
"Termination  Date") but not  thereafter,  to subscribe  for and  purchase  from
Global  Technologies,  Ltd. a Delaware  corporation (the  "Company"),  up to One
Hundred  Thousand  (100,000)  shares  (the  "Warrant  Shares") of Class A Common
Stock,  $.01 par value per share,  of the  Company  (the  "Common  Stock").  The
purchase  price of one share of Common Stock (the  "Exercise  Price") under this
Warrant  shall be $1.00.  The Exercise  Price and the number of shares for which
the Warrant is exercisable shall be subject to adjustment as provided herein.

     1. TITLE TO WARRANT.  Prior to the  Termination  Date hereof and subject to
compliance  with  applicable  laws,  this Warrant and all rights  hereunder  are
transferable, in whole or in part, at the office or agency of the Company by the
holder hereof in person or by duly authorized  attorney,  upon surrender of this
Warrant together with the Assignment Form annexed hereto properly endorsed.

     2. AUTHORIZATION OF SHARES. The Company covenants that all shares of Common
Stock  which may be issued  upon the  exercise  of  rights  represented  by this
Warrant will, upon exercise of the rights  represented by this Warrant,  be duly
authorized,  validly  issued,  fully  paid and  nonassessable  and free from all
taxes,  liens and charges in respect of the issue  thereof  (other than taxes in
respect of any transfer occurring contemporaneously with such issue).

     3. EXERCISE OF WARRANT. Exercise of the purchase rights represented by this
Warrant  may be made at any time or times on or after the  Issuance  Date hereof
and before the close of business on the  Termination  Date  hereof.  Exercise of
<PAGE>
this  Warrant or any part  hereof  shall be effected  by the  surrender  of this
Warrant and the Notice of Exercise  Form annexed  hereto duly  executed,  at the
office of the Company  (or such other  office or agency of the Company as it may
designate by notice in writing to the registered holder hereof at the address of
such  holder  appearing  on the books of the  Company)  and upon  payment of the
Exercise  Price of the shares  thereby  purchased by wire  transfer or cashier's
check  drawn on a United  States  bank,  the  holder  of this  Warrant  shall be
entitled to receive a  certificate  for the number of shares of Common  Stock so
purchased. Certificates for shares purchased hereunder shall be delivered to the
holder hereof within three (3) Trading Days after the date on which this Warrant
shall have been  exercised as  aforesaid.  This Warrant  shall be deemed to have
been exercised and such certificate or certificates shall be deemed to have been
issued,  and Holder or any other person so  designated to be named therein shall
be deemed to have become a holder of record of such shares for all purposes,  as
of the date the  Warrant  has been  exercised  by payment to the  Company of the
Exercise Price and all taxes required to be paid by Holder,  if any, pursuant to
Section 5 prior to the issuance of such shares,  have been paid. If this Warrant
shall have been exercised in part, the Company shall, at the time of delivery of
the certificate or certificates representing Warrant Shares, deliver to Holder a
new Warrant  evidencing the rights of Holder to purchase the unpurchased  shares
of Common Stock called for by this Warrant, which new Warrant shall in all other
respects be identical with this Warrant.  If the  Registration  Statement is not
then  effective,  this  Warrant  may also be  exercised  by means of a "cashless
exercise"  (and  therefore  this  Warrant's  Rule  144  (promulgated  under  the
Securities Act of 1933, as amended)  "tacking period" begins with the signing of
this  agreement)  in which the Holder shall be entitled to receive a certificate
for the number of shares equal to the quotient  obtained by dividing [(A-B) (X)]
by (A), where:

          "A" means the average of the high and low trading  prices per share of
Common Stock on the Trading Day preceding the date of such election;

          "B" means the Exercise Price of the Warrants; and

          "X" means the number of shares  issuable upon exercise of the Warrants
in accordance with the terms of this Warrant.

     4.  NO  FRACTIONAL   SHARES  OR  SCRIP.  No  fractional   shares  or  scrip
representing  fractional  shares  shall  be  issued  upon the  exercise  of this
Warrant.  As to any fraction of a share which Holder would otherwise be entitled
to purchase  upon such  exercise,  the Company  shall pay a cash  adjustment  in
respect of such final fraction in an amount equal to the Exercise Price.

     5. CHARGES,  TAXES AND  EXPENSES.  Issuance of  certificates  for shares of
Common Stock upon the exercise of this Warrant  shall be made without  charge to
the holder hereof for any issue or transfer tax or other  incidental  expense in
respect of the  issuance of such  certificate,  all of which taxes and  expenses
shall be paid by the Company,  and such certificates shall be issued in the name
of the holder of this Warrant or in such name or names as may be directed by the
holder of this Warrant;  provided,  however,  that in the event certificates for
shares of Common  Stock  are to be issued in a name  other  than the name of the
holder of this  Warrant,  this Warrant when  surrendered  for exercise  shall be
accompanied by the Assignment  Form attached  hereto duly executed by the holder
hereof; and the Company may require,  as a condition  thereto,  the payment of a
sum sufficient to reimburse it for any transfer tax incidental thereto.

                                       2
<PAGE>
     6. CLOSING OF BOOKS.  The Company will not close its  shareholder  books or
records in any manner which prevents the timely exercise of this Warrant.

     7. TRANSFER,  DIVISION AND COMBINATION.  (a) Subject to compliance with any
applicable  securities laws,  transfer of this Warrant and all rights hereunder,
in whole or in part,  shall be  registered  on the  books of the  Company  to be
maintained  for such  purpose,  upon  surrender of this Warrant at the principal
office of the  Company,  together  with a  written  assignment  of this  Warrant
substantially  in the form attached  hereto duly executed by Holder or its agent
or attorney  and funds  sufficient  to pay any transfer  taxes  payable upon the
making of such transfer. Upon such surrender and, if required, such payment, the
Company  shall  execute and deliver a new Warrant or Warrants in the name of the
assignee or assignees and in the denomination or denominations specified in such
instrument  of  assignment,  and  shall  issue  to the  assignor  a new  Warrant
evidencing  the portion of this Warrant not so assigned,  and this Warrant shall
promptly be cancelled.  A Warrant,  if properly assigned,  may be exercised by a
new holder  for the  purchase  of shares of Common  Stock  without  having a new
Warrant issued.

          (b) This Warrant may be divided or combined  with other  Warrants upon
presentation  hereof at the  aforesaid  office of the Company,  together  with a
written notice  specifying the names and denominations in which new Warrants are
to be issued,  signed by Holder or its agent or attorney.  Subject to compliance
with Section 7(a), as to any transfer  which may be involved in such division or
combination,  the Company shall execute and deliver a new Warrant or Warrants in
exchange  for the Warrant or  Warrants  to be divided or combined in  accordance
with such notice.

          (c) The Company  shall  prepare,  issue and deliver at its own expense
(other than transfer taxes) the new Warrant or Warrants under this Section 7.

          (d) The Company agrees to maintain, at its aforesaid office, books for
the registration and the registration of transfer of the Warrants.

     8. NO RIGHTS AS SHAREHOLDER  UNTIL EXERCISE.  This Warrant does not entitle
the holder hereof to any voting  rights or other rights as a shareholder  of the
Company prior to the exercise hereof. Upon the surrender of this Warrant and the
payment of the aggregate  Exercise Price,  the Warrant Shares so purchased shall
be and be deemed to be issued to such holder as the record  owner of such shares
as of the  close of  business  on the  later of the  date of such  surrender  or
payment.

     9. LOSS, THEFT, DESTRUCTION OR MUTILATION OF WARRANT. The Company covenants
that upon receipt by the Company of evidence  reasonably  satisfactory  to it of
the loss,  theft,  destruction or mutilation of this Warrant  certificate or any
stock certificate  relating to the Warrant Shares, and in case of loss, theft or
destruction, of indemnity or security reasonably satisfactory to it (which shall
not include the posting of any bond),  and upon  surrender and  cancellation  of
such  Warrant or stock  certificate,  if  mutilated,  the Company  will make and
deliver a new  Warrant or stock  certificate  of like tenor and dated as of such
cancellation, in lieu of such Warrant or stock certificate.

                                       3
<PAGE>
     10. SATURDAYS, SUNDAYS, HOLIDAYS, ETC. If the last or appointed day for the
taking of any action or the  expiration of any right  required or granted herein
shall be a Saturday, Sunday or a legal holiday, then such action may be taken or
such right may be exercised on the next succeeding day not a Saturday, Sunday or
legal holiday.

     11.  ADJUSTMENTS OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES.  (a) STOCK
SPLITS, ETC. The number and kind of securities  purchasable upon the exercise of
this Warrant and the Exercise Price shall be subject to adjustment  from time to
time upon the happening of any of the  following.  In case the Company shall (i)
pay a dividend  in shares of Common  Stock or make a  distribution  in shares of
Common Stock to holders of its  outstanding  Common  Stock,  (ii)  subdivide its
outstanding  shares of Common  Stock  into a greater  number of shares of Common
Stock,  (iii)  combine  its  outstanding  shares of Common  Stock into a smaller
number of shares of Common  Stock or (iv) issue any shares of its capital  stock
in a  reclassification  of the Common Stock,  then the number of Warrant  Shares
purchasable  upon  exercise of this Warrant  immediately  prior thereto shall be
adjusted  so that the holder of this  Warrant  shall be  entitled to receive the
kind and number of Warrant  Shares or other  securities  of the Company which he
would  have  owned or have  been  entitled  to  receive  had such  Warrant  been
exercised in advance  thereof.  Upon each such adjustment of the kind and number
of Warrant  Shares or other  securities  of the  Company  which are  purchasable
hereunder,  the holder of this Warrant shall  thereafter be entitled to purchase
the number of Warrant Shares or other securities  resulting from such adjustment
at an Exercise Price per Warrant Share or other security obtained by multiplying
the Exercise Price in effect  immediately prior to such adjustment by the number
of  Warrant  Shares  purchasable  pursuant  hereto  immediately  prior  to  such
adjustment and dividing by the number of Warrant  Shares or other  securities of
the Company resulting from such adjustment.  An adjustment made pursuant to this
paragraph shall become  effective  immediately  after the effective date of such
event retroactive to the record date, if any, for such event.

          (b)  REORGANIZATION,   RECLASSIFICATION,   MERGER,   CONSOLIDATION  OR
DISPOSITION  OF  ASSETS.  In case the  Company  shall  reorganize  its  capital,
reclassify  its  capital  stock,  consolidate  or  merge  with or  into  another
corporation  (where the Company is not the surviving  corporation or where there
is a change in or distribution with respect to the Common Stock of the Company),
or sell, transfer or otherwise dispose of all or substantially all its property,
assets or business  to another  corporation  and,  pursuant to the terms of such
reorganization,   reclassification,  merger,  consolidation  or  disposition  of
assets, shares of common stock of the successor or acquiring corporation, or any
cash,  shares of stock or other securities or property of any nature  whatsoever
(including  warrants or other subscription or purchase rights) in addition to or
in lieu of  common  stock of the  successor  or  acquiring  corporation  ("Other
Property"),  are to be received by or distributed to the holders of Common Stock
of the Company,  then Holder shall have the right  thereafter  to receive,  upon
exercise of this Warrant,  the number of shares of common stock of the successor
or acquiring corporation or of the Company, if it is the surviving  corporation,
and  Other  Property  receivable  upon or as a  result  of such  reorganization,
reclassification,  merger, consolidation or disposition of assets by a holder of
the  number of shares of Common  Stock for which  this  Warrant  is  exercisable
immediately   prior  to  such  event.  In  case  of  any  such   reorganization,
reclassification,  merger, consolidation or disposition of assets, the successor
or acquiring  corporation (if other than the Company) shall expressly assume the

                                       4
<PAGE>
due and  punctual  observance  and  performance  of each and every  covenant and
condition of this  Warrant to be  performed  and observed by the Company and all
the obligations and liabilities hereunder,  subject to such modifications as may
be deemed appropriate (as determined in good faith by resolution of the Board of
Directors  of the  Company)  in order to provide  for  adjustments  of shares of
Common  Stock for which this  Warrant is  exercisable  which  shall be as nearly
equivalent as  practicable to the  adjustments  provided for in this Section 11.
For purposes of this  Section 11,  "common  stock of the  successor or acquiring
corporation"  shall include stock of such  corporation of any class which is not
preferred  as to  dividends  or  assets  over any  other  class of stock of such
corporation  and which is not subject to  redemption  and shall also include any
evidences  of  indebtedness,  shares  of  stock or other  securities  which  are
convertible into or exchangeable for any such stock,  either immediately or upon
the arrival of a specified  date or the  happening of a specified  event and any
warrants  or other  rights to  subscribe  for or purchase  any such  stock.  The
foregoing  provisions  of this Section 11 shall  similarly  apply to  successive
reorganizations,  reclassifications,  mergers,  consolidations or disposition of
assets.

     12. VOLUNTARY ADJUSTMENT BY THE COMPANY. The Company may at any time during
the term of this Warrant,  reduce the then current  Exercise Price to any amount
and for any period of time deemed  appropriate  by the Board of Directors of the
Company.

     13. NOTICE OF  ADJUSTMENT.  Whenever the number of Warrant Shares or number
or kind of securities or other  property  purchasable  upon the exercise of this
Warrant or the Exercise Price is adjusted, as herein provided, the Company shall
promptly mail by registered or certified mail, return receipt requested,  to the
holder of this Warrant notice of such  adjustment or  adjustments  setting forth
the number of Warrant Shares (and other securities or property) purchasable upon
the exercise of this Warrant and the Exercise  Price of such Warrant Shares (and
other  securities  or property)  after such  adjustment,  setting  forth a brief
statement  of  the  facts  requiring  such  adjustment  and  setting  forth  the
computation by which such  adjustment was made.  Such notice,  in the absence of
manifest  error,  shall  be  conclusive  evidence  of the  correctness  of  such
adjustment.

     14. Notice of Corporate Action. If at any time:

          (a) the Company shall take a record of the holders of its Common Stock
for the purpose of entitling  them to receive a dividend or other  distribution,
or any right to subscribe for or purchase any evidences of its indebtedness, any
shares of stock of any class or any other securities or property,  or to receive
any other right, or

          (b) there  shall be any capital  reorganization  of the  Company,  any
reclassification  or recapitalization of the capital stock of the Company or any
consolidation  or merger of the  Company  with,  or any sale,  transfer or other
disposition of all or substantially all the property,  assets or business of the
Company to, another corporation or,

          (c) there shall be a voluntary or involuntary dissolution, liquidation
or winding up of the Company;

                                       5
<PAGE>
then, in any one or more of such cases,  the Company shall give to Holder (i) at
least 30 days' prior written  notice of the date on which a record date shall be
selected for such dividend,  distribution or right or for determining  rights to
vote  in  respect  of  any  such   reorganization,   reclassification,   merger,
consolidation, sale, transfer, disposition,  liquidation or winding up, and (ii)
in the case of any such reorganization, reclassification, merger, consolidation,
sale, transfer, disposition, dissolution, liquidation or winding up, at least 30
days'  prior  written  notice of the date when the same shall take  place.  Such
notice in accordance  with the foregoing  clause also shall specify (i) the date
on which  any such  record  is to be taken  for the  purpose  of such  dividend,
distribution  or right,  the date on which the holders of Common  Stock shall be
entitled  to any such  dividend,  distribution  or  right,  and the  amount  and
character  thereof,  and  (ii)  the  date  on  which  any  such  reorganization,
reclassification,    merger,   consolidation,   sale,   transfer,   disposition,
dissolution,  liquidation  or winding  up is to take place and the time,  if any
such  time is to be fixed,  as of which the  holders  of Common  Stock  shall be
entitled  to  exchange  their  shares of Common  Stock for  securities  or other
property deliverable upon such disposition,  dissolution, liquidation or winding
up. Each such written notice shall be sufficiently  given if addressed to Holder
at the  last  address  of  Holder  appearing  on the  books of the  Company  and
delivered in accordance with Section 16(d).

     15.  AUTHORIZED  SHARES.  The Company  covenants that during the period the
Warrant is outstanding,  it will reserve from its authorized and unissued Common
Stock a  sufficient  number of shares to provide for the issuance of the Warrant
Shares upon the exercise of any purchase rights under this Warrant.  The Company
further  covenants  that its  issuance of this  Warrant  shall  constitute  full
authority  to its  officers  who are charged  with the duty of  executing  stock
certificates  to execute and issue the  necessary  certificates  for the Warrant
Shares upon the exercise of the purchase rights under this Warrant.  The Company
will take all such  reasonable  action as may be  necessary  to assure that such
Warrant  Shares  may be issued  as  provided  herein  without  violation  of any
applicable law or regulation,  or of any  requirements  of the Principal  Market
upon which the Common Stock may be listed.

          The Company shall not by any action,  including,  without  limitation,
amending  its  certificate  of  incorporation  or  through  any  reorganization,
transfer  of  assets,  consolidation,  merger,  dissolution,  issue  or  sale of
securities or any other voluntary action,  avoid or seek to avoid the observance
or  performance  of any of the terms of this  Warrant,  but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or  appropriate to protect the rights of Holder
against  impairment.  Without  limiting the  generality  of the  foregoing,  the
Company  will (a) not  increase  the par value of any  shares  of  Common  Stock
receivable  upon the exercise of this Warrant above the amount payable  therefor
upon such exercise immediately prior to such increase in par value, (b) take all
such action as may be  necessary  or  appropriate  in order that the Company may
validly and legally  issue fully paid and  nonassessable  shares of Common Stock
upon the  exercise  of this  Warrant,  and (c) use all  commercially  reasonable
efforts to obtain  all such  authorizations,  exemptions  or  consents  from any
public regulatory body having jurisdiction thereof as may be necessary to enable
the Company to perform its obligations under this Warrant.

          Upon the request of Holder,  the  Company  will at any time during the
period this Warrant is outstanding  acknowledge in writing,  in form  reasonably
satisfactory  to  Holder,  the  continuing  validity  of  this  Warrant  and the
obligations of the Company hereunder.

                                       6
<PAGE>
          Before taking any action which would cause an adjustment  reducing the
current Exercise Price below the then par value, if any, of the shares of Common
Stock  issuable  upon  exercise  of the  Warrants,  the  Company  shall take any
corporate  action  which may be  necessary in order that the Company may validly
and legally issue fully paid and  non-assessable  shares of such Common Stock at
such adjusted Exercise Price.

          Before  taking any action which would result in an  adjustment  in the
number of shares of Common Stock for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such  authorizations  or exemptions
thereof,  or consents  thereto,  as may be necessary from any public  regulatory
body or bodies having jurisdiction thereof.

     16. Miscellaneous.

          (a) JURISDICTION. This Warrant shall be binding upon any successors or
assigns of the Company.  This Warrant shall constitute a contract under the laws
of New York without  regard to its conflict of law  principles or rules,  and be
subject  to  arbitration  pursuant  to the  terms  set  forth  in  the  Purchase
Agreement.

          (b)  RESTRICTIONS.  The holder  hereof  acknowledges  that the Warrant
Shares acquired upon the exercise of this Warrant, if not registered,  will have
restrictions upon resale imposed by state and federal securities laws.

          (c)  NONWAIVER  AND  EXPENSES.  No course of  dealing  or any delay or
failure to exercise any right hereunder on the part of Holder shall operate as a
waiver of such right or otherwise prejudice Holder's rights, powers or remedies,
notwithstanding  all rights hereunder  terminate on the Termination Date hereof.
If the Company  willfully  fails to comply with any  material  provision of this
Warrant,  the Company shall pay to Holder such amounts as shall be sufficient to
cover  any  costs  and  expenses  including,  but  not  limited  to,  reasonable
attorneys' fees, including those of appellate proceedings, incurred by Holder in
collecting any amounts due pursuant hereto or in otherwise  enforcing any of its
rights, powers or remedies hereunder.

          (d)  NOTICES.  Any  notice,  request  or other  document  required  or
permitted to be given or delivered to the holder  hereof by the Company shall be
delivered in accordance with the notice provisions of the Purchase Agreement.

          (e) LIMITATION OF LIABILITY.  No provision  hereof,  in the absence of
affirmative  action by  Holder  to  purchase  shares  of  Common  Stock,  and no
enumeration herein of the rights or privileges of Holder hereof, shall give rise
to any  liability of Holder for the  purchase  price of any Common Stock or as a
stockholder of the Company, whether such liability is asserted by the Company or
by creditors of the Company.

          (f) REMEDIES.  Holder,  in addition to being  entitled to exercise all
rights  granted by law,  including  recovery  of  damages,  will be  entitled to
specific  performance of its rights under this Warrant.  The Company agrees that
monetary  damages  would not be adequate  compensation  for any loss incurred by
reason of a breach by it of the  provisions of this Warrant and hereby agrees to
waive the defense in any action for  specific  performance  that a remedy at law
would be adequate.

                                       7
<PAGE>
          (g) SUCCESSORS  AND ASSIGNS.  Subject to applicable  securities  laws,
this Warrant and the rights and obligations  evidenced hereby shall inure to the
benefit of and be binding upon the  successors of the Company and the successors
and permitted assigns of Holder.  The provisions of this Warrant are intended to
be for the benefit of all Holders from time to time of this Warrant and shall be
enforceable by any such Holder or holder of Warrant Shares.

          (h) INDEMNIFICATION. The Company agrees to indemnify and hold harmless
Holder  from  and  against  any  liabilities,   obligations,   losses,  damages,
penalties,  actions,  judgments, suits, claims, costs, attorneys' fees, expenses
and disbursements of any kind which may be imposed upon, incurred by or asserted
against  Holder in any manner  relating  to or arising out of any failure by the
Company to perform or observe  in any  material  respect  any of its  covenants,
agreements,  undertakings  or obligations  set forth in this Warrant;  PROVIDED,
HOWEVER,  that the Company  will not be liable  hereunder to the extent that any
liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
claims,  costs,  attorneys' fees, expenses or disbursements are found in a final
non-appealable  judgment by a court to have resulted  from Holder's  negligence,
bad  faith  or  willful   misconduct  in  its  capacity  as  a  stockholder   or
warrantholder of the Company.

          (i)  AMENDMENT.  This  Warrant  may  be  modified  or  amended  or the
provisions hereof waived with the written consent of the Company and the Holder.

          (j) SEVERABILITY.  Wherever  possible,  each provision of this Warrant
shall  be  interpreted  in  such  manner  as to be  effective  and  valid  under
applicable  law, but if any  provision of this Warrant shall be prohibited by or
invalid under  applicable law, such provision shall be ineffective to the extent
of such  prohibition or invalidity,  without  invalidating the remainder of such
provisions or the remaining provisions of this Warrant.

          (k)  HEADINGS.   The  headings  used  in  this  Warrant  are  for  the
convenience of reference  only and shall not, for any purpose,  be deemed a part
of this Warrant.

                                       8
<PAGE>
     IN WITNESS  WHEREOF,  the Company has caused this Warrant to be executed by
its officer thereunto duly authorized.

Dated: April 12, 2001
                                       GLOBAL TECHNOLOGIES, LTD.

                                       /s/ Irwin L. Gross
                                       -----------------------------------------
                                       By: Irwin L. Gross
                                           -------------------------------------
                                       Title: Chief Executive Officer and
                                              Chairman of the Board of Directors

                                       9
<PAGE>
                               NOTICE OF EXERCISE

To: Global Technologies, Ltd.

     (1) The  undersigned  hereby elects to purchase  ________ shares of Class A
Common  Stock  par  value  $.01  per  share  (the  "Common  Stock"),  of  Global
Technologies,  Ltd. pursuant to the terms of the attached  Warrant,  and tenders
herewith  payment of the exercise  price in full,  together with all  applicable
transfer taxes, if any.

     (2) Please issue a certificate or certificates  representing said shares of
Common  Stock  in the  name  of the  undersigned  or in  such  other  name as is
specified below:

               -------------------------------------------------
               (Name)

               -------------------------------------------------
               (Address)

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

Dated:

                                        ----------------------------------------
                                        Signature
<PAGE>
                                 ASSIGNMENT FORM

                    (To assign the foregoing warrant, execute
                   this form and supply required information.
                 Do not use this form to exercise the warrant.)

     FOR VALUE RECEIVED,  the foregoing Warrant and all rights evidenced thereby
are hereby assigned to

_______________________________________________________________ whose address is

_______________________________________________________________.

_______________________________________________________________

                                        Dated:  ______________, _______

                         Holder's Signature:____________________________________

                         Holder's Address:______________________________________

Signature Guaranteed: ___________________________________________

NOTE: The signature to this  Assignment Form must correspond with the name as it
appears on the face of the Warrant,  without  alteration or  enlargement  or any
change whatsoever,  and must be guaranteed by a bank or trust company.  Officers
of  corporations  and  those  acting  in an  fiduciary  or other  representative
capacity  should  file  proper  evidence of  authority  to assign the  foregoing
Warrant.

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