Document:

Exhibit 4.2

                         BONUS STOCK ISSUANCE AGREEMENT

         THIS AGREEMENT (this "Agreement") is entered into as of May 30, 2003
(the "Date of Grant"), by and between SkyWay Communications Holding Corp., a
Florida corporation (the "Company"), and JAMEE KALIMI ("Kalimi").

                                    RECITALS

         A.   The Company has agreed to issue 500,000 shares of common stock to
Kalimi as a bonus.

                                   AGREEMENT

         NOW, THEREFORE, the parties hereto, for good and sufficient
consideration the receipt of which is hereby acknowledged, and intending to be
legally bound, do hereby agree as follows:

1.   Grant of Stock Issuance. Company has agreed to and will issue 500,000
shares of Company Common Stock to Kalimi as a bonus ("Bonus Shares").

2.   Registration Statement. The Company shall cause the issuance of the Bonus
Shares to be registered under the Securities Act of 1933 as amended by filing a
Form S-8 Registration Statement covering the Bonus Shares. Kalimi shall take any
action reasonably requested by the Company in connection with registration or
qualification of the Bonus Shares under federal or state securities laws.

3.   General Provisions.

         3.1      Amendments; Waivers. This Agreement may be amended only by
agreement in writing of all parties. No waiver of any provision nor consent to
any exception to the terms of this Agreement shall be effective unless in
writing and signed by the party to be bound and then only to the specific
purpose, extent and instance so provided.

         3.2      Entire Agreement. This Agreement, together with its exhibit,
constitutes the entire agreement among the parties pertaining to the subject
matter hereof and supersedes all prior agreements and understandings of the
parties in connection therewith.

         3.3      Governing Law. This Agreement and the legal relations between
the parties shall be governed by and construed in accordance with the laws of
the State of Florida applicable to contracts made and performed in such State.

         3.4      Attorneys' Fees. Should any action or proceeding be brought to
construe or enforce the terms and conditions of this Agreement or the rights of
the parties hereunder, the losing party shall pay to the prevailing party all
court costs and reasonable attorneys' fees and costs (at the prevailing party's
attorneys then current rates) incurred in such action or proceeding. A party
that voluntarily dismisses an action or proceeding shall be considered a losing
party for purposes of this provision. Attorneys' fees incurred in enforcing any
judgment in respect of this Agreement are recoverable as a separate item. The
preceding sentence is intended to be severable from the other provisions of this
Agreement and to survive any judgment and, to the maximum extent permitted by
law, shall not be deemed merged into any such judgment.

         3.5      Receipt of Agreement. Each of the parties hereto acknowledges
that it has read this Agreement in its entirety and does hereby acknowledge
receipt of a fully executed copy thereof. A fully executed copy shall be an
original for all purposes, and is a duplicate original.

         3.6      Notices. Any written notice required or permitted to be given
shall be deemed delivered either when personally delivered or when mailed,
registered or certified, postage prepaid with return receipt requested, if to
Kalimi to the last residence address of Kalimi as provided by her to the Company
from time to time, and if to the Company, addressed to the last address of the
Company provided by it to Kalimi from time to time.

         3.7      Severability. If any  provision of this Agreement is
determined to be invalid, illegal or unenforceable by any governmental entity,
the remaining provisions of this Agreement to the extent permitted by law shall
remain in full force and effect

4.   Bleed-Out. Consultant agrees that during the period from the date hereof
until December 1, 2003 (the "Lock-Up Period"), Consultant shall not (except as
permitted below), without the prior written consent of the Company, directly or
indirectly, offer, issue, sell, contract to sell (including, without limitation,
any short sale), grant any option for the sale of, pledge, or otherwise dispose
of or transfer more than 18,000 shares of common stock in any one-day period;
provided, however, that the foregoing agreement and representation shall not
apply to (i) dispositions by gift, will or by the laws of descent and
distribution, or otherwise to the Consultant's parents, siblings, spouse,
children, or grandchildren, (ii) a trust for the benefit of the Consultant's
parents, siblings, spouse, children, or grandchildren, (iii) a partnership, the
general partner of which is the Consultant or the Consultant's parents,
siblings, spouse, children, or grandchildren, or a corporation or limited
liability company, a majority of whose outstanding equity securities is owned of
record or beneficially by the Consultant or by any of the foregoing; provided
that, in each case, such transferee agrees in writing to be bound by the terms
hereof.

         IN WITNESS WHEREOF, the parties hereto have dulyexecuted this Agreement
as of the date first above written

                                        SKYWAY COMMUNICATIONS HOLDING CORP.

                                        By: /s/ Jamee Kalimi, 
                                                President

                                            /s/ Jamee Kalimi
                                                JAMEE KALIMIExhibit 4.3

                              SERVICES AGREEMENT

         THIS SERVICES AGREEMENT, dated as of April 1, 2003 (the "Agreement"),
by and between I-Teleco.com, Inc., a Florida Corporation (the "Company"), and
Arax Sade, an individual residing in the State of Florida (the "Consultant")
(individually, a "Party", collectively, the "Parties").

                                    ECITALS

        WHEREAS, the Company has requested that Consultant provide certain
bookkeeping and administrative services ("Services") to the Company.

         WHEREAS, in connection with and in consideration for such past and
future Services, the Company has agreed to compensate Consultant in shares of
common stock in lieu of cash payment.

         NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein, the Parties agree as follows:

         1        TERM.

         This Agreement is terminable at will. This means this Agreement may be
terminated with or without cause and without any notice.

         2.       COMPENSATION.

         2.1      In consideration of the Services to be provided by the
Consultant, the Company agrees to compensate the Consultant with 100,000 shares
(the "Shares") of common stock of the Company.

         2.2      The Company shall cause the issuance of the Shares to be
registered under the Securities Act of 1933 as amended by filing a Form S-8
Registration Statement covering the Shares within ten (10) business days of the
date of this Agreement. Consultant shall take any action reasonably requested by
the Company in connection with registration or qualification of the Shares under
federal or state securities laws

         2.3      In addition to the foregoing, the Company shallreimburse the
Consultant for such reasonable business expenses which the Consultant incurs
solely in connection with the performance of the Services hereunder. The
Consultant shall obtain the prior written approval of the Company before
incurring any expenses for which the Consultant will seek reimbursement from the
Company. The Consultant must submit receipts for all expenses and otherwise
comply with all of the Company's general policies for expense reimbursement in
order to receive payment therefor. The Company shall reimburse the Consultant
for expenses within fifteen (15) days following submission of all required
documentation.

         2.4      It is expressly understood and agreed that in connection with
the Services to be performed by the Consultant, the Consultant shall be solely
responsible for any and all taxes arising from the consulting fees paid to the
Consultant hereinafter.

         3.       CONFIDENTIALITY.

         3.1      The Consultant shall not disclose any non-public information
obtained by the Consultant from the Company including, without limitation,
information relating to this Agreement. The provisions of this Section shall not
apply to information generally known to the public or the trade, information
available in trade or other publications and information available without
breaching the provisions of this Agreement.

         3.2      This Section shall survive the expiration or termination of
his Agreement.

         4.       REPRESENTATIONS AND WARRANTIES.

         4.1      The Consultant hereby represents and warrants to the Company
that:

         4.1.1     he has full legal capacity to enter into this Agreement and
to provide the Services hereunder without violation or conflict with any other
agreement or instrument to which the Consultant is a party or may be bound;

         4.1.2    in the course of performing the Services hereunder, the
Consultant will not infringe the patent, trademark or copyright (collectively,
"Intellectual Property") of any third party;

         4.1.3    the execution, delivery and performance of this Agreement does
not and will not conflict with, violate or breach its constituent documents or
any agreement (including, without limitation, any other distribution agreement),
decree, order or judgment or any law or regulation to which it is a party or
subject or by which it or any of its properties or assets is bound.

         5.       RELATIONSHIP OF THE PARTIES.

         The Consultant shall be an independent contractor and the Consultant
shall not be considered in any manner an employee of the Company and the
relationship of the Company and the Consultant shall not in any manner create an
employer-employee relationship between the parties. It is hereby disclosed that
the Consultant is currently employed by Atlas Equity Group, Inc., which is owned
by Michael D. Farkas, the indirect majority shareholder of the Company.

         6.       NO WAIVER.

         The failure of any of the parties hereto to enforce any provision
hereof on any occasion shall not be deemed to be a waiver of any preceding or
succeeding breach of such provision or of any other provision.

         7.       ENTIRE AGREEMENT.

         This Agreement constitutes the entire Agreement and understanding of
the parties hereto.

         8.       AMENDMENTS.

         No amendment, modification or waiver of any provision herein shall be
effective unless in writing, executed by each of the parties hereto.

         9.       GOVERNING LAW; JURISDICTION.

         This Agreement shall be construed, interpreted and enforced in
accordance with and shall be governed by the laws of the State of New York
applicable to agreements made and to be performed entirely therein. In the event
that either Party hereto shall take legal action to enforce any of the
provisions of this Agreement, the Parties agree that the exclusive jurisdiction
for such legal action shall be the state courts of New York or the federal
courts residing in the State of New York.

         10.      BINDING EFFECT.

         This Agreement shall bind and inure to the benefit of the Parties,
their successors and assigns.

         11.      NOTICES.

         Any notice under the provisions of this Agreement shall be deemed given
when received and shall be given by hand, reputable overnight courier service or
by registered or certified mail, return receipt requested, directed to the
addresses set forth above, unless notice of a new address has been sent pursuant
to the terms of this section.

         12.      Unenforceability; Severability.

         If any provision of this Agreement is found to be void or unenforceable
by a court of competent jurisdiction, the remaining provisions of this Agreement
shall, nevertheless, be binding upon the Parties with the same force and effect
as though the unenforceable part had been severed and deleted.

         13.      Counterparts.

         This Agreement may be executed in one or more counterparts, all of
which shall be deemed to be duplicate originals.

         14.      BLEED-OUT.

         Consultant agrees that during the period from the date hereof until
December 1, 2003 (the "Lock-Up Period"), Consultant shall not (except as
permitted below), without the prior written consent of the Company, directly or
indirectly, offer, issue, sell, contract to sell (including, without limitation,
any short sale), grant any option for the sale of, pledge, or otherwise dispose
of or transfer more than 5,000 shares of common stock in any one-day period;
provided, however, that the foregoing agreement and representation shall not
apply to (i) dispositions by gift, will or by the laws of descent and
distribution, or otherwise to the Consultant's parents, siblings, spouse,
children, or grandchildren, (ii) a trust for the benefit of the Consultant's
parents, siblings, spouse, children, or grandchildren, (iii) a partnership, the
general partner of which is the Consultant or the Consultant's parents,
siblings, spouse, children, or grandchildren, or a corporation or limited
liability company, a majority of whose outstanding equity securities is owned of
record or beneficially by the Consultant or by any of the foregoing; provided
that, in each case, such transferee agrees in writing to be bound by the terms
hereof.

         IN WITNESS WHEREOF, the Parties hereto have executed this instrument
the date first above written.

                                       I-TELECO.COM, INC.

                                       By: /s/ Jamee Kalimi  
                                       Name:   Jamee Kalimi
                                       Title:  President

                                       CONSULTANT

                                       By: /s/ Arax Sade
                                               Arax Sade

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