Document:

EXHIBIT
        10.3

    

    

    EUGENE
      SCIENCE, INC.

     

    STOCK
      OPTION AGREEMENT

    UNDER

    2006
      STOCK INCENTIVE PLAN

    

    Type
      of Option (check one):    o 
      Incentive     o 
      Nonqualified

     

    This
      Stock Option Agreement (the “Agreement”) is entered into as of __________,
      _____, by and between EUGENE SCIENCE, INC., a Delaware corporation (the
“Company”),
      and
      _______________ (“Optionee”)
      pursuant to the Company’s 2006 Stock Incentive Plan (the “Plan”).  Any
      capitalized term not defined herein shall have the meaning ascribed to it in
      the
      Plan.

     

    1.    Grant
      of Option.
      The
      Company hereby grants to Optionee an option (the “Option”)
      to
      purchase all or any portion of a total of ______________________ (_______)
      shares (the “Shares”)
      of the
      Common Stock of the Company at a purchase price of _____________ ($_____) per
      share (the “Exercise
      Price”),
      subject to the terms and conditions set forth herein and the provisions of
      the
      Plan. If the box marked “Incentive” above is checked, then this Option is
      intended to qualify as an “incentive stock option” as defined in Section 422 of
      the Internal Revenue Code of l986, as amended (the “Code”).
      If
      this Option fails in whole or in part to qualify as an incentive stock option,
      or if the box marked “Nonqualified” is checked, then this Option shall to that
      extent constitute a nonqualified stock option.

     

    2.    Vesting
      of Option.
      The
      right to exercise this Option shall vest in installments, and this Option shall
      be exercisable from time to time in whole or in part as to any vested
      installment (“Vested
      Shares”).
      ____________ percent (__%) of the Shares shall become Vested Shares on the
      first
      anniversary of the date hereof and thereafter, the balance of the Shares shall
      become Vested Shares in a series of ___________ (__) successive equal monthly
      installments for each month of Continuous Service provided by the Optionee,
      such
      that 100% of the Shares shall become Vested Shares on the ________ (___)
      anniversary of the date hereof. 

     

    3.    Term
      of Option.
      Optionee’s right to exercise this Option shall terminate upon the first to occur
      of the following:

     

    (a)    the
      expiration of ten (10) years from the date of this Agreement;

     

    (b)    the
      expiration of one (1) year from the date of termination of Optionee’s Continuous
      Service if such termination is due to Optionee’s death or if death occurs during
      either the three-month or one-month period following termination of Optionee’s
      Continuous Service pursuant to Section 3(d) or 3(e) below, as the case may
      be;

     

    (c)    the
      expiration of three (3) months from the date of termination of Optionee’s
      Continuous Service if such termination occurs for any reason other than
      permanent disability, death, voluntary resignation or cause; provided, however,
      that if Optionee dies during such three-month period the provisions of
      Section 3(c) above shall apply;

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (d)    the
      expiration of one (1) month from the date of termination of Optionee’s
      Continuous Service if such termination occurs due to voluntary resignation;
      provided, however, that if Optionee dies during such one-month period the
      provisions of Section 3(c) above shall apply; 

     

    (e)    the
      termination of Optionee’s Continuous Service, if such termination is for Cause
      (as defined below in Section 9(d)); or

     

    (f)    upon
      the
      consummation of a Change in Control (as defined in Section 2.5 of the
      Plan), unless otherwise provided pursuant to Section 11 below.

     

    As
      used
      herein, the term “Continuous
      Service”
means
      (i) employment by either the Company or any parent or subsidiary corporation
      of
      the Company, or by a corporation or a parent or subsidiary of a corporation
      issuing or assuming a stock option in a transaction to which Section 424(a)
      of
      the Code applies, which is uninterrupted except for vacations, illness (except
      for permanent disability, as defined in Section 22(e)(3) of the Code), or leaves
      of absence which are approved in writing by the Company or any of such other
      employer corporations, if applicable, or (ii) service as a member of the Board
      of Directors of the Company until Optionee resigns, is removed from office,
      or
      Optionee’s term of office expires and he or she is not reelected. The Optionee’s
      Continuous Service shall not terminate merely because of a change in the
      capacity in which the Optionee renders service to the Company or a corporation
      or subsidiary corporation described in clause (i) above. For example, a change
      in the Optionee’s status from an employee to a Non-Employee Director will not
      constitute an interruption of the Optionee’s Continuous Service, provided there
      is no interruption in the Optionee’s performance of such services.

     

    4.    Exercise
      of Option.
      On or
      after the vesting of any portion of this Option in accordance with Sections
      2 or
      9 hereof, and until termination of the right to exercise this Option in
      accordance with Section 3 above, the portion of this Option which has vested
      may
      be exercised in whole or in part by the Optionee (or, after his or her death,
      by
      the person designated in Section 5 below) upon delivery of the following to
      the
      Company at its principal executive offices:

     

    (a)    a
      written
      notice of exercise which identifies this Agreement and states the number of
      Shares then being purchased (but no fractional Shares may be purchased) unless
      the Company has established other procedures;

     

    (b)    a
      check
      or cash in the amount of the Exercise Price (or payment of the Exercise Price
      in
      such other form of lawful consideration as the Administrator may approve from
      time to time under the provisions of Section 5.3 of the Plan);

     

    (c)    a
      check
      or cash in the amount reasonably requested by the Company to satisfy the
      Company’s withholding obligations under federal, state or other applicable tax
      laws with respect to the taxable income, if any, recognized by the Optionee
      in
      connection with the exercise of this Option (unless the Company and Optionee
      shall have made other arrangements for deductions or withholding from Optionee’s
      wages, bonus or other compensation payable to Optionee, or by the withholding
      of
      Shares issuable upon exercise of this Option or the delivery of Shares owned
      by
      the Optionee in accordance with Section 14.5 of the Plan, provided such
      arrangements satisfy the requirements of applicable tax laws); and

     

    
      
         

      

      
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    (d)    a
      letter,
      if requested by the Company, in such form and substance as the Company may
      require, setting forth the investment intent of the Optionee, or person
      designated in Section 5 below, as the case may be.

     

    5.    Death
      of Optionee; No Assignment.
      The
      rights of the Optionee under this Agreement may not be assigned or transferred
      except by will or by the laws of descent and distribution, and may be exercised
      during the lifetime of the Optionee only by such Optionee. Any attempt to sell,
      pledge, assign, hypothecate, transfer or dispose of this Option in contravention
      of this Agreement or the Plan shall be void and shall have no effect. If the
      Optionee’s Continuous Service terminates as a result of his or her death, and
      provided Optionee’s rights hereunder shall have vested pursuant to Section 2
      hereof, Optionee’s legal representative, his or her legatee, or the person who
      acquired the right to exercise this Option by reason of the death of the
      Optionee (individually, a “Successor”)
      shall
      succeed to the Optionee’s rights and obligations under this Agreement. After the
      death of the Optionee, only a Successor may exercise this Option.

     

    6.    Representations
      and Warranties of Optionee.
      Optionee acknowledges receipt of a copy of the Plan and understands that all
      rights and obligations connected with this Option are set forth in this
      Agreement and in the Plan.

     

    7.    Limitation
      on Company’s Liability for Nonissuance.
      The
      Company agrees to use its reasonable best efforts to obtain from any applicable
      regulatory agency such authority or approval as may be required in order to
      issue and sell the Shares to the Optionee pursuant to this Option. Inability
      of
      the Company to obtain, from any such regulatory agency, authority or approval
      deemed by the Company’s counsel to be necessary for the lawful issuance and sale
      of the Shares hereunder and under the Plan shall relieve the Company of any
      liability in respect of the nonissuance or sale of such Shares as to which
      such
      requisite authority or approval shall not have been obtained.

     

    8.    Adjustments
      Upon Changes in Capital Structure.
      In the
      event that the outstanding shares of Common Stock of the Company are hereafter
      increased or decreased or changed into or exchanged for a different number
      or
      kind of shares or other securities of the Company by reason of a
      recapitalization, stock split, combination of shares, reclassification, stock
      dividend or other change in the capital structure of the Company, then
      appropriate adjustment shall be made by the Administrator to the number of
      Shares subject to the unexercised portion of this Option and to the Exercise
      Price per share, in order to preserve, as nearly as practical, but not to
      increase, the benefits of the Optionee under this Option, in accordance with
      the
      provisions of Section 4.3 of the Plan.

     

    9.    Change
      in Control.
      In the
      event of a Change in Control of the Company (as defined in Section 2.4 of the
      Plan): 

     

    (a)    The
      right
      to exercise this Option shall accelerate automatically and vest in full
      (notwithstanding the provisions of Section 2 above) effective as of immediately
      prior to the consummation of the Change in Control unless
      this
      Option is to be assumed by the acquiring or successor entity (or parent thereof)
      or a new option or New Incentives are to be issued in exchange therefor, as
      provided in subsection (b) below. If vesting of this Option will accelerate
      pursuant to the preceding sentence, the Administrator in its discretion may
      provide, in connection with the Change in Control transaction, for the purchase
      or exchange of this Option for an amount of cash or other property having a
      value equal to the difference (or “spread”) between: (x) the value of the
      cash or other property that the Optionee would have received pursuant to the
      Change in Control transaction in exchange for the Shares issuable upon exercise
      of this Option had this Option been exercised immediately prior to the Change
      in
      Control, and (y) the aggregate Exercise Price for such Shares. If the vesting
      of
      this Option will accelerate pursuant to this subsection (a), then the
      Administrator shall cause written notice of the Change in Control transaction
      to
      be given to the Optionee not less than fifteen (15) days prior to the
      anticipated effective date of the proposed transaction.

     

    
      
         

      

      
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    (b)    The
      vesting of this Option shall
      not
      accelerate if and to the extent that: (i) this Option (including the
      unvested portion thereof) is to be assumed by the acquiring or successor entity
      (or parent thereof) or a new option of comparable value is to be issued in
      exchange therefor pursuant to the terms of the Change in Control transaction,
      or
      (ii) this Option (including the unvested portion thereof) is to be replaced
      by the acquiring or successor entity (or parent thereof) with other incentives
      of comparable value under a new incentive program (“New
      Incentives”)
      containing such terms and provisions as the Administrator in its discretion
      may
      consider equitable. If this Option is assumed, or if a new option of comparable
      value is issued in exchange therefor, then this Option or the new option shall
      be appropriately adjusted, concurrently with the Change in Control, to apply
      to
      the number and class of securities or other property that the Optionee would
      have received pursuant to the Change in Control transaction in exchange for
      the
      Shares issuable upon exercise of this Option had this Option been exercised
      immediately prior to the Change in Control, and appropriate adjustment also
      shall be made to the Exercise Price such that the aggregate Exercise Price
      of
      this Option or the new option shall remain the same as nearly as
      practicable.

     

    (c)    If
      the
      provisions of subsection (b) above apply, then this Option, the new option
      or
      the New Incentives shall continue to vest in accordance with the provisions
      of
      Section 2 hereof and shall continue in effect for the remainder of the term
      of
      this Option in accordance with the provisions of Section 3 hereof. However,
      in
      the event of an Involuntary Termination (as defined below) of Optionee’s
      Continuous Service within twelve (12) months following such Change in Control,
      then vesting of this Option, the new option or the New Incentives shall
      accelerate in full automatically effective upon such Involuntary
      Termination.

     

    (d)    For
      purposes of this Section 11, the following terms shall have the meanings set
      forth below:

     

    (i)    “Involuntary
      Termination”
shall
      mean the termination of Optionee’s Continuous Service by reason of:

     

    (A)    Optionee’s
      involuntary dismissal or discharge by the Company, or by the acquiring or
      successor entity (or parent or any subsidiary thereof employing the Optionee)
      for reasons other than Cause (as defined below), or 

     

    (B)    Optionee’s
      voluntary resignation following (x) a change in Optionee’s position with the
      Company, the acquiring or successor entity (or parent or any subsidiary thereof)
      which materially reduces Optionee’s duties and responsibilities or the level of
      management to which Optionee reports, (y) a reduction in Optionee’s level of
      compensation (including base salary, fringe benefits and target bonus under
      any
      performance based bonus or incentive programs) by more than ten percent (10%),
      or (z) a relocation of Optionee’s principal place of employment by more than
      thirty (30) miles, provided and only if such change, reduction or relocation
      is
      effected without Optionee’s written consent.

     

    
      
         

      

      
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    (ii)    “Cause”
shall
      mean (A) the commission of any act of fraud, embezzlement or dishonesty by
      Optionee which materially and adversely affects the business of the Company,
      the
      acquiring or successor entity (or parent or any subsidiary thereof), (B) any
      unauthorized use or disclosure by Optionee of confidential information or trade
      secrets of the Company, the acquiring or successor entity (or parent or any
      subsidiary thereof), (C) the continued refusal or omission by the Optionee
      to
      perform any material duties required of him if such duties are consistent with
      duties customary for the position held with the Company, the acquiring or
      successor entity (or parent or any subsidiary thereof), (D) any material act
      or
      omission by the Optionee involving malfeasance or gross negligence in the
      performance of Optionee’s duties to, or material deviation from any of the
      policies or directives of, the Company or the acquiring or successor entity
      (or
      parent or any subsidiary thereof), (E) conduct on the part of Optionee which
      constitutes the breach of any statutory or common law duty of loyalty to the
      Company, the acquiring or successor entity (or parent or any subsidiary
      thereof), (F) the maintenance of any proceeding initiated by or against Optionee
      under any bankruptcy or debtors’ relief laws of the United States or of any
      other jurisdiction, which proceeding is not terminated within ninety (90) days
      after its commencement, or (G) any illegal act by Optionee which materially
      and
      adversely affects the business of the Company, the acquiring or successor entity
      (or parent or any subsidiary thereof), or any felony committed by Optionee,
      as
      evidenced by conviction thereof. The provisions of this Section shall not limit
      the grounds for the dismissal or discharge of Optionee or any other individual
      in the service of the Company, the acquiring or successor entity (or parent
      or
      any subsidiary thereof).

     

    10.    No
      Employment Contract Created.
      Neither
      the granting of this Option nor the exercise hereof shall be construed as
      granting to the Optionee any right with respect to continuance of employment
      by,
      or other service provider relationship with, the Company or any of its
      subsidiaries. The right of the Company or any of its subsidiaries to terminate
      at will the Optionee’s employment at any time (whether by dismissal, discharge
      or otherwise), with or without cause, is specifically reserved.

     

    11.    Rights
      as Shareholder.
      The
      Optionee (or transferee of this option by will or by the laws of descent and
      distribution) shall have no rights as a shareholder with respect to any Shares
      covered by this Option until the date of the issuance of a stock certificate
      or
      certificates to him or her for such Shares, notwithstanding the exercise of
      this
      Option.

     

    12.    “Market
      Stand-Off” Agreement.
      Optionee agrees that, if requested by the Company or the managing underwriter
      of
      any proposed public offering of the Company’s securities (including any
      acquisition transaction where Company securities will be used as all or part
      of
      the purchase price), Optionee will not sell or otherwise transfer or dispose
      of
      any Shares held by Optionee without the prior written consent of the Company
      or
      such underwriter, as the case may be, during such period of time, not to exceed
      180 days following the effective date of the registration statement filed by
      the
      Company with respect to such offering, as the Company or the underwriter may
      specify.

     

    13.    Interpretation.
      This
      Option is granted pursuant to the terms of the Plan, and shall in all respects
      be interpreted in accordance therewith. The Administrator shall interpret and
      construe this Option and the Plan, and any action, decision, interpretation
      or
      determination made in good faith by the Administrator shall be final and binding
      on the Company and the Optionee. As used in this Agreement, the term
“Administrator”
shall
      refer to the committee of the Board of Directors of the Company appointed to
      administer the Plan, and if no such committee has been appointed, the term
      Administrator shall mean the Board of Directors.

     

    
      
         

      

      
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    14.    Notices.
      Any
      notice, demand or request required or permitted to be given under this Agreement
      shall be in writing and shall be deemed given when delivered personally or
      three
      (3) days after being deposited in the United States mail, as certified or
      registered mail, with postage prepaid, and addressed, if to the Company, at
      its
      principal place of business, Attention: the Chief Financial Officer, and if
      to
      the Optionee, at his or her most recent address as shown in the employment
      or
      stock records of the Company.

     

    15.    Applicable
      Law.
      This
      Agreement shall be construed in accordance with the laws of the State of
      California without reference to choice of law principles, as to all matters,
      including, but not limited to, matters of validity, construction, effect or
      performance.

     

    16.    Severability.
      Should
      any provision or portion of this Agreement be held to be unenforceable or
      invalid for any reason, the remaining provisions and portions of this Agreement
      shall be unaffected by such holding.

     

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

     

     

    [Signature
      Page Follows]

     

    
      
         

      

      
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    IN
      WITNESS WHEREOF, the parties have executed this Agreement as of the date first
      above written.

     

    
      
        	
                EUGENE
                  SCIENCE, INC.

              	
                “OPTIONEE”

              
	
                 

                By:
                  _______________________________________

              	
                 

                _______________________________________

                (Signature)

              
	
                 

                Its:
                  _______________________________________      

              	
                 

                _______________________________________

                (Type
                  or Print Name)

              

      

      
 

      
        
           

        

          7NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE
HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
REASONABLY ACCEPTABLE TO THE COMPANY TO SUCH EFFECT, THE SUBSTANCE OF WHICH
SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

                                                        Warrant No. 2006/1/MR/3
                                                        Issue Date: May 25, 2006

                               WARRANT TO PURCHASE
                                 200,000 SHARES
                               OF COMMON STOCK OF
                        COMPOSITE TECHNOLOGY CORPORATION

      This certifies that Media Relations Strategy Inc, or its assigns (the
"Holder"), for value received, is entitled to purchase from COMPOSITE TECHNOLOGY
CORPORATION, a Nevada corporation (the "Company"), subject to the terms set
forth below, Two Hundred Thousand (200,000) fully paid and nonassessable shares
(subject to adjustment as provided herein) of the Common Stock of the Company
(the "Warrant Shares") for cash at a per share price of $3.00 (the "Exercise
Price") (subject to adjustment as provided herein), at any time after the Issue
Date, from time to time up to and including 5:00 p.m. (Pacific Standard Time) on
December 31, 2008 (the "Expiration Date,") upon surrender to the Company at its
principal office (or at such other location as the Company may advise the Holder
in writing) of this Warrant properly endorsed with the Form of Subscription
attached hereto duly filled in and signed and upon payment in cash or by check
of the aggregate Exercise Price for the number of shares for which this Warrant
is being exercised determined in accordance with the provisions hereof. The
Exercise Price is subject to adjustment as provided in Section 3 of this
Warrant.

      1. Exercise, Issuance of Certificates, Reduction in Number of Warrant
Shares.

            1.1 General. This Warrant is exercisable at the option of the Holder
of record on or prior to the Expiration Date, at any time or from time to time
for all or any part of the vested Warrant Shares (but not for a fraction of a
share) which may be purchased hereunder, as that number may be adjusted pursuant
to Section 3 of this Warrant. The Company agrees that the Warrant Shares
purchased under this Warrant shall be and are deemed to be issued to the Holder
as the record owner of such Warrant Shares as of the close of business on the
date on which this Warrant shall have been surrendered, properly endorsed, the
completed and executed Form of Subscription delivered, and payment made for such
Warrant Shares. Certificates for the Warrant Shares so purchased, together with
any other securities or property to which the Holder is entitled upon such
exercise, shall be delivered to the Holder by the Company at the Company's
expense as soon as practicable after the rights represented by this Warrant have
been so exercised. In case of a purchase of less than all the Warrant Shares
which may be purchased under this Warrant, the Company shall cancel this Warrant
and execute and deliver to the Holder within a reasonable time a new Warrant or
Warrants of like tenor for the balance of the Warrant Shares purchasable under
the Warrant surrendered upon such purchase. Each stock certificate so delivered
shall be registered in the name of the Holder.

                                       1
<PAGE>

            1.2 Record Ownership. To the extent permitted by applicable law, the
person in whose name any certificate for shares of Common Stock or other
evidence of ownership of any other security is issued upon exercise or exchange
of the Warrant shall for all purposes be deemed to have become the holder of
record of such shares or other security on the Delivery Date, irrespective of
the date of delivery of such certificate or other evidence of ownership
(subject, in the case of any exercise to which Section 1.6 of this Warrant
applies, to the consummation of a transaction upon which such exercise is
conditioned), notwithstanding that the transfer books of the Company shall then
be closed or that such certificates or other evidence of ownership shall not
then actually have been delivered to such person.

            1.3 Approvals. If any securities constituting Warrant Shares or any
portion thereof to be issued upon exercise or exchange of the Warrant require
registration or approval under any applicable law, or require listing on any
national securities exchange or national market system before such securities
may be so issued, the Company will as expeditiously as possible cause such
securities to be registered, approved or listed, as applicable. The Company may
suspend the exercise of the Warrant for the period during which such
registration, approval or listing is required but not in effect.

            1.4 Conditional Exercise or Exchange. Any form of subscription or
exchange form delivered under Sections 1.1 or 11.2 may condition the exercise or
exchange of this Warrant on the consummation of a transaction being undertaken
by the Company or the Holder, and such exercise or exchange shall not be deemed
to have occurred except concurrently with the consummation of such transaction,
except that, for purposes of determining whether such exercise or exchange is
timely it shall be deemed to have occurred on the date of delivery (the
"Delivery Date") of the subscription or exchange form. If any exercise of the
Warrant is so conditioned, then, subject to delivery of the items required by
Sections 1.1 and 2 of this Warrant, the Company shall deliver the certificates
and other evidence of ownership of other securities or other property in such
manner as the Holder shall direct as required in connection with the
consummation of such transaction upon which the exercise is conditioned. At any
time that the Holder shall give notice to the Company that such transaction has
been abandoned or that the Holder has withdrawn from participation in such
transaction, the Company shall return the items delivered pursuant to Sections
1.1 and 2 of this Warrant, and the Holder's election to exercise the Warrant
shall be deemed rescinded.

            1.5 Regulatory Problem. The Holder shall not exercise or exchange
the Warrant for shares of Common Stock if after giving effect to such exercise
or exchange the Holder reasonably determines that such exercise would violate
any law or regulation or any requirement of any governmental authority
applicable to Holder or his affiliates.

      2. Shares to be Fully Paid. The Company covenants and agrees that all
Warrant Shares, will, upon issuance and, if applicable, payment of the
applicable Exercise Price, be duly authorized, validly issued, fully paid and
nonassessable, and free of all liens and encumbrances, except for restrictions
on transfer provided for herein or under applicable federal and state securities
laws.

      3. Adjustment of Exercise Price and Number of Shares. The Exercise Price
and the number of Warrant Shares shall be proportionately adjusted from time to
time upon the occurrence of any capital reorganization or any reclassification
of Common Stock, or the consolidation, merger, combination or exchange of shares
with another entity, or the divisive reorganization of the Company. Upon each
adjustment of the Exercise Price, the Holder of this Warrant shall thereafter be
entitled to purchase, at the Exercise Price resulting from such adjustment, the
number of shares obtained by multiplying the Exercise Price in effect
immediately prior to such adjustment by the number of shares purchasable
pursuant hereto immediately prior to such adjustment, and dividing the product
thereof by the Exercise Price resulting from such adjustment.

                                       2
<PAGE>

      4. Piggyback Registration. If the Company at any time proposes for any
reason to register its restricted common stock under the Securities Act of 1933,
as amended (the "Act") (other than on Form S-4 or Form S-8 promulgated under the
Act or any successor forms thereto), it shall include in such registration all
of the Common Stock issued pursuant to this Warrant on the same terms and
conditions as the securities otherwise being registered in such registration.
The Company shall pay the fees and expenses for such registration.

      5. Voting Rights. Nothing contained in this Warrant shall be construed as
conferring upon the Holder the right to vote or to consent to or receive notice
as a shareholder of the Company on any other matters or any rights whatsoever as
a shareholder of the Company.

      6. Compliance with Securities Act: Transferability of Warrant, Disposition
of Shares of Common Stock.

            6.1 Compliance with Securities Act. The Holder, by acceptance
hereof, agrees that this Warrant and the Warrant Shares to be issued upon
exercise hereof are being acquired for investment and that he will not offer,
sell, or otherwise dispose of this Warrant or any Warrant Shares except under
circumstances which will not result in a violation of the Securities Act of 1933
(the "Act") or any applicable state securities laws. This Warrant and all
Warrant Shares (unless registered under the Act) shall be stamped or imprinted
with a legend in substantially the following form:

            THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
            OF 1933, AS AMENDED OR THE SECURITIES OR BLUE SKY LAWS OF ANY STATE.
            THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN
            THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO
            THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL SATISFACTORY
            TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED, OR UNLESS
            SOLD PURSUANT TO RULE 144 OF SUCH ACT.

            6.2 Access to Information; Pre-Existing Relationship. Holder has had
the opportunity to ask questions of, and to receive answers from, appropriate
executive officers of the Company with respect to the terms and conditions of
the transactions contemplated hereby and with respect to the business, affairs,
financial condition and results of operations of the Company. Holder has had
access to such financial and other information as is necessary in order for
Holder to make a fully informed decision as to investment in the Company, and
has had the opportunity to obtain any additional information necessary to verify
any of such information to which Holder has had access. Holder further
represents and warrants that he has either (i) a pre-existing relationship with
the Company or one or more of its officers or directors consisting of personal
or business contacts of a nature and duration which enable him to be aware of
the character, business acumen and general business and financial circumstances
of the Company or the officer or director with whom such relationship exists or
(ii) such business or financial expertise as to be able to protect his own
interests in connection with the purchase of the Shares.

                                       3
<PAGE>

            6.3 Warrant Transferable. Subject to compliance with applicable
federal and state securities laws under which this Warrant was issued, this
Warrant and all rights hereunder are transferable, in whole or in part, without
charge to the Holder (except for transfer taxes), upon surrender of this Warrant
properly endorsed; provided, however, that the Holder shall notify the Company
in writing in advance of any proposed transfer and shall not transfer this
Warrant or any rights hereunder to any person or entity which is then engaged in
a business that in the reasonable judgment of the Company is in direct
competition with the Company. As promptly as practicable but in any event within
ten (10) Business Days of receipt of such properly endorsed Warrant, the Company
shall issue, register and deliver to the Holder thereof a new Warrant or
Warrants of like kind and tenor representing in the aggregate the right to
purchase the same number of Warrant Shares that could be purchased pursuant to
the Warrant being transferred. Holder shall pay Company's reasonable costs
incurred in effectuating such transfer.

            6.4 Disposition of Warrant Shares. With respect to any offer, sale,
or other disposition of the Warrant or any Warrant Shares, the Holder hereof and
each subsequent Holder of this Warrant agrees to give written notice to the
Company prior thereto, describing briefly the manner thereof, together with a
written opinion of such holder's counsel, if reasonably requested by the
Company, to the effect that such offer, sale or other disposition may be
effected without registration or qualification (under the Act as then in effect
or any federal or state law then in effect) of the Warrant or Warrant Shares, as
the case may be, and indicating whether or not under the Act certificates for
the Warrant or Warrant Shares to be sold or otherwise disposed of require any
restrictive legend as to applicable restrictions on transferability in order to
insure compliance with the Act. Promptly upon receiving such written notice and
opinion, the Company, as promptly as practicable, shall notify the Holder that
such Holder may sell or otherwise dispose of the Warrant or Warrant Shares, all
in accordance with the terms of the notice delivered to the Company. If a
determination has been made pursuant to this subparagraph 6.4 that the opinion
of the counsel for the Holder is not reasonably satisfactory to the Company, the
Company shall so notify the Holder promptly after such determination has been
made. Notwithstanding the foregoing, the Warrant or Warrant Shares may be
offered, sold or otherwise disposed of in accordance with Rule 144 under the
Act, provided that the Company shall have been furnished with such information
as the Company may request to provide reasonable assurance that the provisions
of Rule 144 have been satisfied. Each certificate representing the Warrant or
Warrant Shares thus transferred (except a transfer pursuant to Rule 144) shall
bear a legend as to the applicable restrictions on transferability in order to
insure compliance with the Act, unless in the aforesaid opinion of counsel for
the Holder, such legend is not required in order to insure compliance with the
Act. The Company may issue stop transfer instructions to its transfer agent in
connection with such restrictions.

            6.5 Register. This Warrant is, and any Warrant issued, exchanged or
transferred hereunder shall be registered in a warrant register (the "Warrant
Register"). The Warrant Register shall set forth the number of the Warrant, the
name and address of the Holder hereof and the original number of Warrant Shares
purchasable upon the exercise hereof. The Warrant Register will be maintained by
the Company and will be available for inspection by the Holder at the principal
office of the Company or such other location as the Company may designate to the
Holder in the manner set forth in Section 8. The Company shall be entitled to
treat the Holder as the owner in fact thereof for all purposes and shall not be
bound to recognize any equitable or other claim to or interest in the Warrant on
the part of any other person.

      7. Modification and Waiver. This Warrant and any provision hereof may be
changed, waived, discharged, or terminated only by an instrument in writing
signed by the party against which enforcement of the same is sought.

      8. Notices. Any notice, request, or other document required or permitted
to be given or delivered to the Holder hereof or the Company shall be delivered
or shall be sent by certified mail, postage prepaid, as follows:

                                       4
<PAGE>

      Holder:  Media Relations Strategy
               21157 Ormond Court,
               Boca Raton, FL 33433
               Attn: Martin L. Goldberg

      Company: Composite Technology Corporation
               2026 McGaw Avenue
               Irvine, California 92614
               Attn: Benton H Wilcoxon

      or such other address as either may from time to time provide to the
other.

      9. Governing Law; Waiver of Jury Trial.

            9.1 Governing Law. All questions concerning the construction,
interpretation and validity of this Agreement shall be governed by and construed
and enforced in accordance with the domestic laws of the State of California
without giving effect to any choice or conflict of law provision or rule
(whether in the State of California or any other jurisdiction) that would cause
the application of the laws of any jurisdiction other than the State of
California. In furtherance of the foregoing, the internal law of the State of
California will control the interpretation and construction of this Agreement,
even if under such jurisdiction's choice of law or conflict of law analysis, the
substantive law of some other jurisdiction would ordinarily or necessarily
apply.

            9.2 Waiver of Jury Trial. BECAUSE DISPUTES ARISING IN CONNECTION
WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED
BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE LAWS TO
APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE
RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE
BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, THE
PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR
PROCEEDING BROUGHT TO ENFORCE OR DEFEND ANY RIGHTS OR REMEDIES UNDER THIS
AGREEMENT OR ANY DOCUMENTS RELATED HERETO.

      10. Exchange of Warrant for Warrants.

            10.1 Lost Warrant. The Company represents and warrants to the Holder
hereof that upon receipt of evidence reasonably satisfactory to the Company of
the loss, theft, destruction, or mutilation of this Warrant and, in the case of
any such loss, theft or destruction, upon receipt of an indemnity reasonably
satisfactory to the Company, or in the case of any such mutilation upon
surrender and cancellation of the Warrant, the Company will, at the Company's
expense, make and deliver a new Warrant, of like tenor, in lieu of the lost,
stolen, destroyed or mutilated Warrant.

            10.2 Exchange. The Holder may exchange this Warrant at his option,
upon presentation and surrender of this Warrant to Company, for other Warrants
of different denominations, entitling the Holder to purchase in the aggregate
the same number of Warrant Shares. A Warrant may be divided or combined with
other Warrants that carry the same rights, upon presentation thereof at the
principal office of the Company, together with written notice specifying the
names and denominations in which new Warrants are to be issued and signed by the
holder thereof. In order to effect an exchange permitted by this Section 11.2,
the Holder shall deliver to the Company this Warrant accompanied by a written
request signed by the Holder specifying the number and denominations of the
Warrant or the Warrants to be issued in such exchange and the names in which the
Warrant or Warrants are to be issued. As promptly as practicable but in any
event within ten (10) Business Days of receipt of such a request, the Company
shall, without charge, issue, register and deliver to the Holder each Warrant to
be issued in such exchange.

                                       5
<PAGE>

      11. Fractional Shares. No fractional shares shall be issued upon exercise
of this Warrant. The Company shall, in lieu of issuing any fractional share, pay
the Holder entitled to such fraction a sum in cash equal to such fraction
(calculated to the nearest 1/100th of a share) multiplied by the then effective
Exercise Price on the date the Form of Subscription is received by the Company.

      12. Successors and Assigns. This Warrant and the rights evidenced hereby
shall inure to the benefit of and be binding upon the successors of the Company
and the 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.

                                       6
<PAGE>

      IN WITNESS WHEREOF, the Company has caused this Warrant to be duly
executed by its officer, thereunto duly authorized as of the date first written
above

                                        COMPANY:

                                        Composite Technology Corporation
                                        a Nevada corporation

                                        /s/ Benton H. Wilcoxon
                                        ----------------------------
                                        By:  Benton H. Wilcoxon
                                        Its: Chief Executive Officer

                                       7
<PAGE>

                              FORM OF SUBSCRIPTION

(To be signed only upon exercise of Warrant)

To:   Composite Technology Corporation

      The undersigned, the holder of the attached Common Stock Warrant, hereby
irrevocably elects to exercise the purchase right represented by such Warrant
for, and to purchase thereunder, ________________________ shares of Common Stock
of Composite Technology Corporation (the "Company") and herewith makes payment
of $_________ therefor.

The undersigned represents that he is acquiring such Common Stock for his own
account for investment and not with a view to or for sale in connection with any
distribution thereof.

DATED: _________________

                                      __________________________________________
                                      (Signature must conform in all respects to
                                      name of Holder as specified on the face of
                                      the Warrant)

                                      Name: _________________________________

Title: _________________________________

                                       8
<PAGE>

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE
HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
REASONABLY ACCEPTABLE TO THE COMPANY TO SUCH EFFECT, THE SUBSTANCE OF WHICH
SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

                                                        Warrant No. 2006/1/MR/1
                                                        Issue Date: May 25, 2006

                               WARRANT TO PURCHASE
                                 200,000 SHARES
                               OF COMMON STOCK OF
                        COMPOSITE TECHNOLOGY CORPORATION

      This certifies that Media Relations Strategy Inc, or its assigns (the
"Holder"), for value received, is entitled to purchase from COMPOSITE TECHNOLOGY
CORPORATION, a Nevada corporation (the "Company"), subject to the terms set
forth below, Two Hundred Thousand (200,000) fully paid and nonassessable shares
(subject to adjustment as provided herein) of the Common Stock of the Company
(the "Warrant Shares") for cash at a per share price of $2.00 (the "Exercise
Price") (subject to adjustment as provided herein), at any time after the Issue
Date, from time to time up to and including 5:00 p.m. (Pacific Standard Time) on
December 31, 2008 (the "Expiration Date,") upon surrender to the Company at its
principal office (or at such other location as the Company may advise the Holder
in writing) of this Warrant properly endorsed with the Form of Subscription
attached hereto duly filled in and signed and upon payment in cash or by check
of the aggregate Exercise Price for the number of shares for which this Warrant
is being exercised determined in accordance with the provisions hereof. The
Exercise Price is subject to adjustment as provided in Section 3 of this
Warrant.

      1. Exercise, Issuance of Certificates, Reduction in Number of Warrant
Shares.

            1.1 General. This Warrant is exercisable at the option of the Holder
of record on or prior to the Expiration Date, at any time or from time to time
for all or any part of the vested Warrant Shares (but not for a fraction of a
share) which may be purchased hereunder, as that number may be adjusted pursuant
to Section 3 of this Warrant. The Company agrees that the Warrant Shares
purchased under this Warrant shall be and are deemed to be issued to the Holder
as the record owner of such Warrant Shares as of the close of business on the
date on which this Warrant shall have been surrendered, properly endorsed, the
completed and executed Form of Subscription delivered, and payment made for such
Warrant Shares. Certificates for the Warrant Shares so purchased, together with
any other securities or property to which the Holder is entitled upon such
exercise, shall be delivered to the Holder by the Company at the Company's
expense as soon as practicable after the rights represented by this Warrant have
been so exercised. In case of a purchase of less than all the Warrant Shares
which may be purchased under this Warrant, the Company shall cancel this Warrant
and execute and deliver to the Holder within a reasonable time a new Warrant or
Warrants of like tenor for the balance of the Warrant Shares purchasable under
the Warrant surrendered upon such purchase. Each stock certificate so delivered
shall be registered in the name of the Holder.

                                       1
<PAGE>

            1.2 Record Ownership. To the extent permitted by applicable law, the
person in whose name any certificate for shares of Common Stock or other
evidence of ownership of any other security is issued upon exercise or exchange
of the Warrant shall for all purposes be deemed to have become the holder of
record of such shares or other security on the Delivery Date, irrespective of
the date of delivery of such certificate or other evidence of ownership
(subject, in the case of any exercise to which Section 1.6 of this Warrant
applies, to the consummation of a transaction upon which such exercise is
conditioned), notwithstanding that the transfer books of the Company shall then
be closed or that such certificates or other evidence of ownership shall not
then actually have been delivered to such person.

            1.3 Approvals. If any securities constituting Warrant Shares or any
portion thereof to be issued upon exercise or exchange of the Warrant require
registration or approval under any applicable law, or require listing on any
national securities exchange or national market system before such securities
may be so issued, the Company will as expeditiously as possible cause such
securities to be registered, approved or listed, as applicable. The Company may
suspend the exercise of the Warrant for the period during which such
registration, approval or listing is required but not in effect.

            1.4 Conditional Exercise or Exchange. Any form of subscription or
exchange form delivered under Sections 1.1 or 11.2 may condition the exercise or
exchange of this Warrant on the consummation of a transaction being undertaken
by the Company or the Holder, and such exercise or exchange shall not be deemed
to have occurred except concurrently with the consummation of such transaction,
except that, for purposes of determining whether such exercise or exchange is
timely it shall be deemed to have occurred on the date of delivery (the
"Delivery Date") of the subscription or exchange form. If any exercise of the
Warrant is so conditioned, then, subject to delivery of the items required by
Sections 1.1 and 2 of this Warrant, the Company shall deliver the certificates
and other evidence of ownership of other securities or other property in such
manner as the Holder shall direct as required in connection with the
consummation of such transaction upon which the exercise is conditioned. At any
time that the Holder shall give notice to the Company that such transaction has
been abandoned or that the Holder has withdrawn from participation in such
transaction, the Company shall return the items delivered pursuant to Sections
1.1 and 2 of this Warrant, and the Holder's election to exercise the Warrant
shall be deemed rescinded.

            1.5 Regulatory Problem. The Holder shall not exercise or exchange
the Warrant for shares of Common Stock if after giving effect to such exercise
or exchange the Holder reasonably determines that such exercise would violate
any law or regulation or any requirement of any governmental authority
applicable to Holder or his affiliates.

      2. Shares to be Fully Paid. The Company covenants and agrees that all
Warrant Shares, will, upon issuance and, if applicable, payment of the
applicable Exercise Price, be duly authorized, validly issued, fully paid and
nonassessable, and free of all liens and encumbrances, except for restrictions
on transfer provided for herein or under applicable federal and state securities
laws.

      3. Adjustment of Exercise Price and Number of Shares. The Exercise Price
and the number of Warrant Shares shall be proportionately adjusted from time to
time upon the occurrence of any capital reorganization or any reclassification
of Common Stock, or the consolidation, merger, combination or exchange of shares
with another entity, or the divisive reorganization of the Company. Upon each
adjustment of the Exercise Price, the Holder of this Warrant shall thereafter be
entitled to purchase, at the Exercise Price resulting from such adjustment, the
number of shares obtained by multiplying the Exercise Price in effect
immediately prior to such adjustment by the number of shares purchasable
pursuant hereto immediately prior to such adjustment, and dividing the product
thereof by the Exercise Price resulting from such adjustment.

                                       2
<PAGE>

      4. Piggyback Registration. If the Company at any time proposes for any
reason to register its restricted common stock under the Securities Act of 1933,
as amended (the "Act") (other than on Form S-4 or Form S-8 promulgated under the
Act or any successor forms thereto), it shall include in such registration all
of the Common Stock issued pursuant to this Warrant on the same terms and
conditions as the securities otherwise being registered in such registration.
The Company shall pay the fees and expenses for such registration.

      5. Voting Rights. Nothing contained in this Warrant shall be construed as
conferring upon the Holder the right to vote or to consent to or receive notice
as a shareholder of the Company on any other matters or any rights whatsoever as
a shareholder of the Company.

      6. Compliance with Securities Act: Transferability of Warrant, Disposition
of Shares of Common Stock.

            6.1 Compliance with Securities Act. The Holder, by acceptance
hereof, agrees that this Warrant and the Warrant Shares to be issued upon
exercise hereof are being acquired for investment and that he will not offer,
sell, or otherwise dispose of this Warrant or any Warrant Shares except under
circumstances which will not result in a violation of the Securities Act of 1933
(the "Act") or any applicable state securities laws. This Warrant and all
Warrant Shares (unless registered under the Act) shall be stamped or imprinted
with a legend in substantially the following form:

            THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
            OF 1933, AS AMENDED OR THE SECURITIES OR BLUE SKY LAWS OF ANY STATE.
            THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN
            THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO
            THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL SATISFACTORY
            TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED, OR UNLESS
            SOLD PURSUANT TO RULE 144 OF SUCH ACT.

            6.2 Access to Information; Pre-Existing Relationship. Holder has had
the opportunity to ask questions of, and to receive answers from, appropriate
executive officers of the Company with respect to the terms and conditions of
the transactions contemplated hereby and with respect to the business, affairs,
financial condition and results of operations of the Company. Holder has had
access to such financial and other information as is necessary in order for
Holder to make a fully informed decision as to investment in the Company, and
has had the opportunity to obtain any additional information necessary to verify
any of such information to which Holder has had access. Holder further
represents and warrants that he has either (i) a pre-existing relationship with
the Company or one or more of its officers or directors consisting of personal
or business contacts of a nature and duration which enable him to be aware of
the character, business acumen and general business and financial circumstances
of the Company or the officer or director with whom such relationship exists or
(ii) such business or financial expertise as to be able to protect his own
interests in connection with the purchase of the Shares.

                                       3
<PAGE>

            6.3 Warrant Transferable. Subject to compliance with applicable
federal and state securities laws under which this Warrant was issued, this
Warrant and all rights hereunder are transferable, in whole or in part, without
charge to the Holder (except for transfer taxes), upon surrender of this Warrant
properly endorsed; provided, however, that the Holder shall notify the Company
in writing in advance of any proposed transfer and shall not transfer this
Warrant or any rights hereunder to any person or entity which is then engaged in
a business that in the reasonable judgment of the Company is in direct
competition with the Company. As promptly as practicable but in any event within
ten (10) Business Days of receipt of such properly endorsed Warrant, the Company
shall issue, register and deliver to the Holder thereof a new Warrant or
Warrants of like kind and tenor representing in the aggregate the right to
purchase the same number of Warrant Shares that could be purchased pursuant to
the Warrant being transferred. Holder shall pay Company's reasonable costs
incurred in effectuating such transfer.

            6.4 Disposition of Warrant Shares. With respect to any offer, sale,
or other disposition of the Warrant or any Warrant Shares, the Holder hereof and
each subsequent Holder of this Warrant agrees to give written notice to the
Company prior thereto, describing briefly the manner thereof, together with a
written opinion of such holder's counsel, if reasonably requested by the
Company, to the effect that such offer, sale or other disposition may be
effected without registration or qualification (under the Act as then in effect
or any federal or state law then in effect) of the Warrant or Warrant Shares, as
the case may be, and indicating whether or not under the Act certificates for
the Warrant or Warrant Shares to be sold or otherwise disposed of require any
restrictive legend as to applicable restrictions on transferability in order to
insure compliance with the Act. Promptly upon receiving such written notice and
opinion, the Company, as promptly as practicable, shall notify the Holder that
such Holder may sell or otherwise dispose of the Warrant or Warrant Shares, all
in accordance with the terms of the notice delivered to the Company. If a
determination has been made pursuant to this subparagraph 6.4 that the opinion
of the counsel for the Holder is not reasonably satisfactory to the Company, the
Company shall so notify the Holder promptly after such determination has been
made. Notwithstanding the foregoing, the Warrant or Warrant Shares may be
offered, sold or otherwise disposed of in accordance with Rule 144 under the
Act, provided that the Company shall have been furnished with such information
as the Company may request to provide reasonable assurance that the provisions
of Rule 144 have been satisfied. Each certificate representing the Warrant or
Warrant Shares thus transferred (except a transfer pursuant to Rule 144) shall
bear a legend as to the applicable restrictions on transferability in order to
insure compliance with the Act, unless in the aforesaid opinion of counsel for
the Holder, such legend is not required in order to insure compliance with the
Act. The Company may issue stop transfer instructions to its transfer agent in
connection with such restrictions.

            6.5 Register. This Warrant is, and any Warrant issued, exchanged or
transferred hereunder shall be registered in a warrant register (the "Warrant
Register"). The Warrant Register shall set forth the number of the Warrant, the
name and address of the Holder hereof and the original number of Warrant Shares
purchasable upon the exercise hereof. The Warrant Register will be maintained by
the Company and will be available for inspection by the Holder at the principal
office of the Company or such other location as the Company may designate to the
Holder in the manner set forth in Section 8. The Company shall be entitled to
treat the Holder as the owner in fact thereof for all purposes and shall not be
bound to recognize any equitable or other claim to or interest in the Warrant on
the part of any other person.

      7. Modification and Waiver. This Warrant and any provision hereof may be
changed, waived, discharged, or terminated only by an instrument in writing
signed by the party against which enforcement of the same is sought.

      8. Notices. Any notice, request, or other document required or permitted
to be given or delivered to the Holder hereof or the Company shall be delivered
or shall be sent by certified mail, postage prepaid, as follows:

                                       4
<PAGE>

      Holder:  Media Relations Strategy
               21157 Ormond Court,
               Boca Raton, FL 33433
               Attn: Martin L. Goldberg

      Company: Composite Technology Corporation
               2026 McGaw Avenue
               Irvine, California 92614
               Attn: Benton H Wilcoxon

      or such other address as either may from time to time provide to the
other.

      9. Governing Law; Waiver of Jury Trial.

            9.1 Governing Law. All questions concerning the construction,
interpretation and validity of this Agreement shall be governed by and construed
and enforced in accordance with the domestic laws of the State of California
without giving effect to any choice or conflict of law provision or rule
(whether in the State of California or any other jurisdiction) that would cause
the application of the laws of any jurisdiction other than the State of
California. In furtherance of the foregoing, the internal law of the State of
California will control the interpretation and construction of this Agreement,
even if under such jurisdiction's choice of law or conflict of law analysis, the
substantive law of some other jurisdiction would ordinarily or necessarily
apply.

            9.2 Waiver of Jury Trial. BECAUSE DISPUTES ARISING IN CONNECTION
WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED
BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE LAWS TO
APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE
RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE
BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, THE
PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR
PROCEEDING BROUGHT TO ENFORCE OR DEFEND ANY RIGHTS OR REMEDIES UNDER THIS
AGREEMENT OR ANY DOCUMENTS RELATED HERETO.

      10. Exchange of Warrant for Warrants.

            10.1 Lost Warrant. The Company represents and warrants to the Holder
hereof that upon receipt of evidence reasonably satisfactory to the Company of
the loss, theft, destruction, or mutilation of this Warrant and, in the case of
any such loss, theft or destruction, upon receipt of an indemnity reasonably
satisfactory to the Company, or in the case of any such mutilation upon
surrender and cancellation of the Warrant, the Company will, at the Company's
expense, make and deliver a new Warrant, of like tenor, in lieu of the lost,
stolen, destroyed or mutilated Warrant.

            10.2 Exchange. The Holder may exchange this Warrant at his option,
upon presentation and surrender of this Warrant to Company, for other Warrants
of different denominations, entitling the Holder to purchase in the aggregate
the same number of Warrant Shares. A Warrant may be divided or combined with
other Warrants that carry the same rights, upon presentation thereof at the
principal office of the Company, together with written notice specifying the
names and denominations in which new Warrants are to be issued and signed by the
holder thereof. In order to effect an exchange permitted by this Section 11.2,
the Holder shall deliver to the Company this Warrant accompanied by a written
request signed by the Holder specifying the number and denominations of the
Warrant or the Warrants to be issued in such exchange and the names in which the
Warrant or Warrants are to be issued. As promptly as practicable but in any
event within ten (10) Business Days of receipt of such a request, the Company
shall, without charge, issue, register and deliver to the Holder each Warrant to
be issued in such exchange.

                                       5
<PAGE>

      11. Fractional Shares. No fractional shares shall be issued upon exercise
of this Warrant. The Company shall, in lieu of issuing any fractional share, pay
the Holder entitled to such fraction a sum in cash equal to such fraction
(calculated to the nearest 1/100th of a share) multiplied by the then effective
Exercise Price on the date the Form of Subscription is received by the Company.

      12. Successors and Assigns. This Warrant and the rights evidenced hereby
shall inure to the benefit of and be binding upon the successors of the Company
and the 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.

                                       6
<PAGE>

      IN WITNESS WHEREOF, the Company has caused this Warrant to be duly
executed by its officer, thereunto duly authorized as of the date first written
above

                                        COMPANY:

                                        Composite Technology Corporation
                                        a Nevada corporation

                                        /s/ Benton H. Wilcoxon
                                        ----------------------------
                                        By:  Benton H. Wilcoxon
                                        Its: Chief Executive Officer

                                       7
<PAGE>

                              FORM OF SUBSCRIPTION

(To be signed only upon exercise of Warrant)

To:   Composite Technology Corporation

      The undersigned, the holder of the attached Common Stock Warrant, hereby
irrevocably elects to exercise the purchase right represented by such Warrant
for, and to purchase thereunder, ________________________ shares of Common Stock
of Composite Technology Corporation (the "Company") and herewith makes payment
of $_________ therefor.

The undersigned represents that he is acquiring such Common Stock for his own
account for investment and not with a view to or for sale in connection with any
distribution thereof.

DATED: _________________

                                      __________________________________________
                                      (Signature must conform in all respects to
                                      name of Holder as specified on the face of
                                      the Warrant)

                                      Name: _________________________________

Title: _________________________________

                                       8
<PAGE>

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE
HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
REASONABLY ACCEPTABLE TO THE COMPANY TO SUCH EFFECT, THE SUBSTANCE OF WHICH
SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

                                                        Warrant No. 2006/1/MR/2
                                                        Issue Date: May 25, 2006

                               WARRANT TO PURCHASE
                                 200,000 SHARES
                               OF COMMON STOCK OF
                        COMPOSITE TECHNOLOGY CORPORATION

      This certifies that Media Relations Strategy Inc, or its assigns (the
"Holder"), for value received, is entitled to purchase from COMPOSITE TECHNOLOGY
CORPORATION, a Nevada corporation (the "Company"), subject to the terms set
forth below, Two Hundred Thousand (200,000) fully paid and nonassessable shares
(subject to adjustment as provided herein) of the Common Stock of the Company
(the "Warrant Shares") for cash at a per share price of $2.50 (the "Exercise
Price") (subject to adjustment as provided herein), at any time after the Issue
Date, from time to time up to and including 5:00 p.m. (Pacific Standard Time) on
December 31, 2008 (the "Expiration Date,") upon surrender to the Company at its
principal office (or at such other location as the Company may advise the Holder
in writing) of this Warrant properly endorsed with the Form of Subscription
attached hereto duly filled in and signed and upon payment in cash or by check
of the aggregate Exercise Price for the number of shares for which this Warrant
is being exercised determined in accordance with the provisions hereof. The
Exercise Price is subject to adjustment as provided in Section 3 of this
Warrant.

      1. Exercise, Issuance of Certificates, Reduction in Number of Warrant
Shares.

            1.1 General. This Warrant is exercisable at the option of the Holder
of record on or prior to the Expiration Date, at any time or from time to time
for all or any part of the vested Warrant Shares (but not for a fraction of a
share) which may be purchased hereunder, as that number may be adjusted pursuant
to Section 3 of this Warrant. The Company agrees that the Warrant Shares
purchased under this Warrant shall be and are deemed to be issued to the Holder
as the record owner of such Warrant Shares as of the close of business on the
date on which this Warrant shall have been surrendered, properly endorsed, the
completed and executed Form of Subscription delivered, and payment made for such
Warrant Shares. Certificates for the Warrant Shares so purchased, together with
any other securities or property to which the Holder is entitled upon such
exercise, shall be delivered to the Holder by the Company at the Company's
expense as soon as practicable after the rights represented by this Warrant have
been so exercised. In case of a purchase of less than all the Warrant Shares
which may be purchased under this Warrant, the Company shall cancel this Warrant
and execute and deliver to the Holder within a reasonable time a new Warrant or
Warrants of like tenor for the balance of the Warrant Shares purchasable under
the Warrant surrendered upon such purchase. Each stock certificate so delivered
shall be registered in the name of the Holder.

                                       1
<PAGE>

            1.2 Record Ownership. To the extent permitted by applicable law, the
person in whose name any certificate for shares of Common Stock or other
evidence of ownership of any other security is issued upon exercise or exchange
of the Warrant shall for all purposes be deemed to have become the holder of
record of such shares or other security on the Delivery Date, irrespective of
the date of delivery of such certificate or other evidence of ownership
(subject, in the case of any exercise to which Section 1.6 of this Warrant
applies, to the consummation of a transaction upon which such exercise is
conditioned), notwithstanding that the transfer books of the Company shall then
be closed or that such certificates or other evidence of ownership shall not
then actually have been delivered to such person.

            1.3 Approvals. If any securities constituting Warrant Shares or any
portion thereof to be issued upon exercise or exchange of the Warrant require
registration or approval under any applicable law, or require listing on any
national securities exchange or national market system before such securities
may be so issued, the Company will as expeditiously as possible cause such
securities to be registered, approved or listed, as applicable. The Company may
suspend the exercise of the Warrant for the period during which such
registration, approval or listing is required but not in effect.

            1.4 Conditional Exercise or Exchange. Any form of subscription or
exchange form delivered under Sections 1.1 or 11.2 may condition the exercise or
exchange of this Warrant on the consummation of a transaction being undertaken
by the Company or the Holder, and such exercise or exchange shall not be deemed
to have occurred except concurrently with the consummation of such transaction,
except that, for purposes of determining whether such exercise or exchange is
timely it shall be deemed to have occurred on the date of delivery (the
"Delivery Date") of the subscription or exchange form. If any exercise of the
Warrant is so conditioned, then, subject to delivery of the items required by
Sections 1.1 and 2 of this Warrant, the Company shall deliver the certificates
and other evidence of ownership of other securities or other property in such
manner as the Holder shall direct as required in connection with the
consummation of such transaction upon which the exercise is conditioned. At any
time that the Holder shall give notice to the Company that such transaction has
been abandoned or that the Holder has withdrawn from participation in such
transaction, the Company shall return the items delivered pursuant to Sections
1.1 and 2 of this Warrant, and the Holder's election to exercise the Warrant
shall be deemed rescinded.

            1.5 Regulatory Problem. The Holder shall not exercise or exchange
the Warrant for shares of Common Stock if after giving effect to such exercise
or exchange the Holder reasonably determines that such exercise would violate
any law or regulation or any requirement of any governmental authority
applicable to Holder or his affiliates.

      2. Shares to be Fully Paid. The Company covenants and agrees that all
Warrant Shares, will, upon issuance and, if applicable, payment of the
applicable Exercise Price, be duly authorized, validly issued, fully paid and
nonassessable, and free of all liens and encumbrances, except for restrictions
on transfer provided for herein or under applicable federal and state securities
laws.

      3. Adjustment of Exercise Price and Number of Shares. The Exercise Price
and the number of Warrant Shares shall be proportionately adjusted from time to
time upon the occurrence of any capital reorganization or any reclassification
of Common Stock, or the consolidation, merger, combination or exchange of shares
with another entity, or the divisive reorganization of the Company. Upon each
adjustment of the Exercise Price, the Holder of this Warrant shall thereafter be
entitled to purchase, at the Exercise Price resulting from such adjustment, the
number of shares obtained by multiplying the Exercise Price in effect
immediately prior to such adjustment by the number of shares purchasable
pursuant hereto immediately prior to such adjustment, and dividing the product
thereof by the Exercise Price resulting from such adjustment.

                                       2
<PAGE>

      4. Piggyback Registration. If the Company at any time proposes for any
reason to register its restricted common stock under the Securities Act of 1933,
as amended (the "Act") (other than on Form S-4 or Form S-8 promulgated under the
Act or any successor forms thereto), it shall include in such registration all
of the Common Stock issued pursuant to this Warrant on the same terms and
conditions as the securities otherwise being registered in such registration.
The Company shall pay the fees and expenses for such registration.

      5. Voting Rights. Nothing contained in this Warrant shall be construed as
conferring upon the Holder the right to vote or to consent to or receive notice
as a shareholder of the Company on any other matters or any rights whatsoever as
a shareholder of the Company.

      6. Compliance with Securities Act: Transferability of Warrant, Disposition
of Shares of Common Stock.

            6.1 Compliance with Securities Act. The Holder, by acceptance
hereof, agrees that this Warrant and the Warrant Shares to be issued upon
exercise hereof are being acquired for investment and that he will not offer,
sell, or otherwise dispose of this Warrant or any Warrant Shares except under
circumstances which will not result in a violation of the Securities Act of 1933
(the "Act") or any applicable state securities laws. This Warrant and all
Warrant Shares (unless registered under the Act) shall be stamped or imprinted
with a legend in substantially the following form:

            THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
            OF 1933, AS AMENDED OR THE SECURITIES OR BLUE SKY LAWS OF ANY STATE.
            THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN
            THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO
            THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL SATISFACTORY
            TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED, OR UNLESS
            SOLD PURSUANT TO RULE 144 OF SUCH ACT.

            6.2 Access to Information; Pre-Existing Relationship. Holder has had
the opportunity to ask questions of, and to receive answers from, appropriate
executive officers of the Company with respect to the terms and conditions of
the transactions contemplated hereby and with respect to the business, affairs,
financial condition and results of operations of the Company. Holder has had
access to such financial and other information as is necessary in order for
Holder to make a fully informed decision as to investment in the Company, and
has had the opportunity to obtain any additional information necessary to verify
any of such information to which Holder has had access. Holder further
represents and warrants that he has either (i) a pre-existing relationship with
the Company or one or more of its officers or directors consisting of personal
or business contacts of a nature and duration which enable him to be aware of
the character, business acumen and general business and financial circumstances
of the Company or the officer or director with whom such relationship exists or
(ii) such business or financial expertise as to be able to protect his own
interests in connection with the purchase of the Shares.

                                       3
<PAGE>

            6.3 Warrant Transferable. Subject to compliance with applicable
federal and state securities laws under which this Warrant was issued, this
Warrant and all rights hereunder are transferable, in whole or in part, without
charge to the Holder (except for transfer taxes), upon surrender of this Warrant
properly endorsed; provided, however, that the Holder shall notify the Company
in writing in advance of any proposed transfer and shall not transfer this
Warrant or any rights hereunder to any person or entity which is then engaged in
a business that in the reasonable judgment of the Company is in direct
competition with the Company. As promptly as practicable but in any event within
ten (10) Business Days of receipt of such properly endorsed Warrant, the Company
shall issue, register and deliver to the Holder thereof a new Warrant or
Warrants of like kind and tenor representing in the aggregate the right to
purchase the same number of Warrant Shares that could be purchased pursuant to
the Warrant being transferred. Holder shall pay Company's reasonable costs
incurred in effectuating such transfer.

            6.4 Disposition of Warrant Shares. With respect to any offer, sale,
or other disposition of the Warrant or any Warrant Shares, the Holder hereof and
each subsequent Holder of this Warrant agrees to give written notice to the
Company prior thereto, describing briefly the manner thereof, together with a
written opinion of such holder's counsel, if reasonably requested by the
Company, to the effect that such offer, sale or other disposition may be
effected without registration or qualification (under the Act as then in effect
or any federal or state law then in effect) of the Warrant or Warrant Shares, as
the case may be, and indicating whether or not under the Act certificates for
the Warrant or Warrant Shares to be sold or otherwise disposed of require any
restrictive legend as to applicable restrictions on transferability in order to
insure compliance with the Act. Promptly upon receiving such written notice and
opinion, the Company, as promptly as practicable, shall notify the Holder that
such Holder may sell or otherwise dispose of the Warrant or Warrant Shares, all
in accordance with the terms of the notice delivered to the Company. If a
determination has been made pursuant to this subparagraph 6.4 that the opinion
of the counsel for the Holder is not reasonably satisfactory to the Company, the
Company shall so notify the Holder promptly after such determination has been
made. Notwithstanding the foregoing, the Warrant or Warrant Shares may be
offered, sold or otherwise disposed of in accordance with Rule 144 under the
Act, provided that the Company shall have been furnished with such information
as the Company may request to provide reasonable assurance that the provisions
of Rule 144 have been satisfied. Each certificate representing the Warrant or
Warrant Shares thus transferred (except a transfer pursuant to Rule 144) shall
bear a legend as to the applicable restrictions on transferability in order to
insure compliance with the Act, unless in the aforesaid opinion of counsel for
the Holder, such legend is not required in order to insure compliance with the
Act. The Company may issue stop transfer instructions to its transfer agent in
connection with such restrictions.

            6.5 Register. This Warrant is, and any Warrant issued, exchanged or
transferred hereunder shall be registered in a warrant register (the "Warrant
Register"). The Warrant Register shall set forth the number of the Warrant, the
name and address of the Holder hereof and the original number of Warrant Shares
purchasable upon the exercise hereof. The Warrant Register will be maintained by
the Company and will be available for inspection by the Holder at the principal
office of the Company or such other location as the Company may designate to the
Holder in the manner set forth in Section 8. The Company shall be entitled to
treat the Holder as the owner in fact thereof for all purposes and shall not be
bound to recognize any equitable or other claim to or interest in the Warrant on
the part of any other person.

      7. Modification and Waiver. This Warrant and any provision hereof may be
changed, waived, discharged, or terminated only by an instrument in writing
signed by the party against which enforcement of the same is sought.

      8. Notices. Any notice, request, or other document required or permitted
to be given or delivered to the Holder hereof or the Company shall be delivered
or shall be sent by certified mail, postage prepaid, as follows:

                                       4
<PAGE>

      Holder:  Media Relations Strategy
               21157 Ormond Court,
               Boca Raton, FL 33433
               Attn: Martin L. Goldberg

      Company: Composite Technology Corporation
               2026 McGaw Avenue
               Irvine, California 92614
               Attn: Benton H Wilcoxon

      or such other address as either may from time to time provide to the
other.

      9. Governing Law; Waiver of Jury Trial.

            9.1 Governing Law. All questions concerning the construction,
interpretation and validity of this Agreement shall be governed by and construed
and enforced in accordance with the domestic laws of the State of California
without giving effect to any choice or conflict of law provision or rule
(whether in the State of California or any other jurisdiction) that would cause
the application of the laws of any jurisdiction other than the State of
California. In furtherance of the foregoing, the internal law of the State of
California will control the interpretation and construction of this Agreement,
even if under such jurisdiction's choice of law or conflict of law analysis, the
substantive law of some other jurisdiction would ordinarily or necessarily
apply.

            9.2 Waiver of Jury Trial. BECAUSE DISPUTES ARISING IN CONNECTION
WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED
BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE LAWS TO
APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE
RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE
BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, THE
PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR
PROCEEDING BROUGHT TO ENFORCE OR DEFEND ANY RIGHTS OR REMEDIES UNDER THIS
AGREEMENT OR ANY DOCUMENTS RELATED HERETO.

      10. Exchange of Warrant for Warrants.

            10.1 Lost Warrant. The Company represents and warrants to the Holder
hereof that upon receipt of evidence reasonably satisfactory to the Company of
the loss, theft, destruction, or mutilation of this Warrant and, in the case of
any such loss, theft or destruction, upon receipt of an indemnity reasonably
satisfactory to the Company, or in the case of any such mutilation upon
surrender and cancellation of the Warrant, the Company will, at the Company's
expense, make and deliver a new Warrant, of like tenor, in lieu of the lost,
stolen, destroyed or mutilated Warrant.

            10.2 Exchange. The Holder may exchange this Warrant at his option,
upon presentation and surrender of this Warrant to Company, for other Warrants
of different denominations, entitling the Holder to purchase in the aggregate
the same number of Warrant Shares. A Warrant may be divided or combined with
other Warrants that carry the same rights, upon presentation thereof at the
principal office of the Company, together with written notice specifying the
names and denominations in which new Warrants are to be issued and signed by the
holder thereof. In order to effect an exchange permitted by this Section 11.2,
the Holder shall deliver to the Company this Warrant accompanied by a written
request signed by the Holder specifying the number and denominations of the
Warrant or the Warrants to be issued in such exchange and the names in which the
Warrant or Warrants are to be issued. As promptly as practicable but in any
event within ten (10) Business Days of receipt of such a request, the Company
shall, without charge, issue, register and deliver to the Holder each Warrant to
be issued in such exchange.

                                       5
<PAGE>

      11. Fractional Shares. No fractional shares shall be issued upon exercise
of this Warrant. The Company shall, in lieu of issuing any fractional share, pay
the Holder entitled to such fraction a sum in cash equal to such fraction
(calculated to the nearest 1/100th of a share) multiplied by the then effective
Exercise Price on the date the Form of Subscription is received by the Company.

      12. Successors and Assigns. This Warrant and the rights evidenced hereby
shall inure to the benefit of and be binding upon the successors of the Company
and the 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.

                                       6
<PAGE>

      IN WITNESS WHEREOF, the Company has caused this Warrant to be duly
executed by its officer, thereunto duly authorized as of the date first written
above

                                        COMPANY:

                                        Composite Technology Corporation
                                        a Nevada corporation

                                        /s/ Benton H. Wilcoxon
                                        ----------------------------
                                        By:  Benton H. Wilcoxon
                                        Its: Chief Executive Officer

                                       7
<PAGE>

                              FORM OF SUBSCRIPTION

(To be signed only upon exercise of Warrant)

To:   Composite Technology Corporation

      The undersigned, the holder of the attached Common Stock Warrant, hereby
irrevocably elects to exercise the purchase right represented by such Warrant
for, and to purchase thereunder, ________________________ shares of Common Stock
of Composite Technology Corporation (the "Company") and herewith makes payment
of $_________ therefor.

The undersigned represents that he is acquiring such Common Stock for his own
account for investment and not with a view to or for sale in connection with any
distribution thereof.

DATED: _________________

                                      __________________________________________
                                      (Signature must conform in all respects to
                                      name of Holder as specified on the face of
                                      the Warrant)

                                      Name: _________________________________

Title: _________________________________

                                       8

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