Document:

PUBLIC AND MEDIA RELATIONS
                              STRATEGY AND SERVICES
                              CONSULTING AGREEMENT

This "Public and Media  Relations  Strategy and Services  Consulting"  Agreement
(the  "Agreement")  is entered  into on this 2nd day of  January,  2006,  by and
between:  Composite Technology  Corporation having its principal offices at 2026
McGaw  Avenue,  Irvine,  California,  92614,  (hereinafter  referred  to as  the
"Company") and Media Relations  Strategy,  Inc.,  located at 21157 Ormond Court,
Boca Raton, Florida 33433 (hereinafter referred to as the "Consultant").

WHEREAS,  the Consultant has been employed by the Company on a continuous  basis
since 2003 providing Public Relations Strategy and Services to the Company;

WHEREAS the Company has  recently  emerged from  bankruptcy  and is in need of a
good market  relations  strategy and PR marketing in the  financial  markets and
wishes to engage the Consultant to continue to provide its services  during a 27
month period as an  independent  contractor  consultant,  and the  Consultant is
agreeable  to  provide  such  services,  on the terms and  conditions  contained
herein;

NOW,  THEREFORE,  intending to be legally  bound,  and in  consideration  of the
mutual promises and covenants, the parties have agreed as follows:

1.    APPOINTMENT.

The Company  hereby  appoints the  Consultant as its public and media  relations
strategy  and services  consultant  to provide  such  services to the  financial
markets  and  hereby  retains  and  employs  the  Consultant,  on the  terms and
conditions of this Agreement. The Consultant accepts such appointment and agrees
to perform the  Services  (as such term is defined in Section 3 hereof) upon the
terms and conditions of this Agreement.

2.    TERM.

This agreement shall enter into force immediately and continue in full force and
effect for a period of 27 months. The Agreement will terminate on Friday,  March
28, 2008.

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<PAGE>

3.    SERVICES.

3.1 The Consultant shall act, generally,  as public and media relations strategy
and marketing counsel in the financial  markets,  such services (the "Services")
shall include but not be limited to:

      (A)   acting (1) as a liaison  between the  Company and its  shareholders;
            (2) as an advisor  to the  Company  with  respect  to  existing  and
            potential market makers, broker-dealers, underwriters, and investors
            as well as being the liaison  between the Company and such  persons;
            and (3) as an advisor to the Company with respect to  communications
            and  information  (e.g.,  interviews,  press  releases,  shareholder
            reports,   etc.)  As  well  as  planning,   designing,   developing,
            organizing,   writing  and  distributing  such   communications  and
            information;

      (B)   assisting in establishing, and advising the Company with respect to:
            shareholder   meetings;   interviews  of  Company  officers  by  the
            financial  media;  and  interviews of Company  officers by analysts,
            market  makers,  broker-dealers,  and other members of the financial
            community;

      (C)   using reasonable best efforts to assisting the Company in making its
            management, its products, and its financial situation and prospects,
            known  to the  financial  press  and  publications,  broker-dealers,
            mutual funds,  institutional  investors,  market  makers,  analysts,
            investment advisors, and other members of the financial community as
            well as the financial media and the public generally;

      (D)   The  provision  of the  work  of any  Key  Persons  working  for the
            Consultant  to enable  them to work  diligently  to ensure  that the
            Consultant  shall comply with its  obligations  hereunder.  The term
            "Key Person" as used herein shall mean any person or manager working
            with the  Consultant  whose presence the parties agree is materially
            important to the  fulfillment  of the  Services.  At the time of the
            signature of this Agreement Martin L. Goldberg is a Key Person.

3.2 The  Consultant  shall liaise with and keep the  Company's  senior  Investor
Relations manager informed of its plans, strategies,  activities and the results
of such activities.  The Consultant shall provide a monthly report describing in
detail such  activities.  Such report shall include,  but not be limited to: the
number of calls,  faxes and  packages  made and  distributed  and to whom.  Such
report will include  consultants color coded report  indicating  specific broker
dealers,  individual brokers and their respective  positions.  From time to time
consultant may provide interim reports as requested by Company.

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<PAGE>

4.    LIMITATIONS AND RESTRICTIONS ON THE SERVICES.

The parties recognize that certain  responsibilities and obligations are imposed
by federal and state securities laws and by the applicable rules and regulations
of stock exchanges,  the National  Association of Securities  Dealers,  in-house
"due  diligence"  or  "compliance"   departments  of  brokerage   houses,   etc.
Accordingly, the Consultant agrees:

      (A)   the Consultant shall NOT release any financial or other  information
            or data about the Company unless such  information  has already been
            made  public  in  a  filing  lodged  with  the  Securities  Exchange
            Commission  ("SEC") or unless the  Consultant has obtained the prior
            written consent and approval of the Company;

      (B)   The  Consultant  shall  NOT  conduct  any  meetings  with  financial
            analysts  without  informing  the Company in advance of the proposed
            meeting and the format or agenda of such meeting and the Company may
            elect  to  have a  representative  of the  Company  attend  at  such
            meeting;

      (C)   The Consultant  shall NOT release any  information or data about the
            Company to any selected or limited  person(s),  entity,  or group if
            the  Consultant is aware that such  information or data has not been
            generally  released or  promulgated  in accordance  with  applicable
            rules and regulations.

      (D)   After  notice  given by the Company of filing for a proposed  public
            offering  of  securities  of the  Company,  and during any period of
            restriction  on publicity,  the  Consultant  shall not engage in any
            public  relations  efforts not in the normal course without approval
            of  the   counsel   for  the   Company   and  of  counsel   for  the
            underwriter(s), if any;

5.    DUTIES OF THE COMPANY.

5.1 The Company shall supply the Consultant,  on a regular and timely basis with
all  approved  data and  information  about the  Company,  its  management,  its
products,  and its operations and the Company shall be responsible  for advising
the  Consultant  of any facts which would  affect the accuracy of any prior data
and  information  previously  supplied  to the  Consultant  in  order  that  the
Consultant may take corrective action.

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<PAGE>

5.2 The Company shall  promptly  supply the  Consultant:  with full and complete
copies of all filings with all federal and state securities agencies;  with full
and complete copies of all shareholder reports and communications whether or not
prepared  with the  Consultant's  assistance;  with  all  data  and  information
supplied to any analyst,  broker-dealer,  market  maker,  or other member of the
financial community; and with all product/services  brochures,  sales materials,
etc. Any such information that is posted on the Company's  website or on the SEC
website under the Company's  Edgar listing shall be deemed to have been given to
the Consultant at the moment of promulgation.

5.3 The  Company  shall  promptly  notify  the  Consultant  of the filing of any
registration  statement for the sale of securities  and of any other event which
triggers any restrictions on publicity.

5.4 In the event that the Company  shall supply any  information  or data to the
Consultant  that has not been  generally  released or  promulgated in accordance
with applicable laws or securities regulations, such data shall be conspicuously
market as non public information or labeled with the words "confidential".

6.    REPRESENTATIONS, WARRANTIES AND INDEMNIFICATION.

6.1 Of the Company:

      (A)   The Company shall be deemed to make a continuing  representation  of
            the accuracy of any and all material facts,  material,  information,
            and  data  which  it  supplies  to the  Consultant  and the  Company
            acknowledges  its  awareness  that  Consultant  will  rely  on  such
            continuing  representation  in  disseminating  such  information and
            otherwise performing its public relations functions.

      (B)   The  Consultant,  in the  absence  of  notice  in  writing  from the
            Company,   will  rely  on  the  continuing   accuracy  of  material,
            information, and data supplied by the Company.

6.2 Indemnification and corrective Measures:

The  Company  hereby  agrees  to  indemnify  Consultant  against,  and  to  hold
Consultant harmless from, any claims,  demands,  suits, loss, damages,  and etc.
arising out of Consultant's  reliance upon the accuracy and continuing  accuracy
of such facts, material,  information,  and data, unless the Consultant has been
negligent in fulfilling its duties and obligations hereunder.

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<PAGE>

In the event of the breach of the Companies warranties contained in Section 6.1,
the Company hereby  authorizes the Consultant to issue, in the Consultant's sole
discretion, corrective, amendatory, supplemental, or explanatory press releases,
shareholder   communications   and  reports,   or  data  supplied  to  analysts,
broker-dealers,  market makers, or other members of the financial community;  in
the event any material  inaccuracy were submitted by the Company and distributed
by Consultant  provided however that the Company shall have been given notice by
the  Consultant of its intention to correct such  inaccuracy  and shall fails to
correct or amend the inaccuracy, within a reasonable time.

6.3 Of the Consultant:

The Consultant shall use reasonable best efforts to perform its duties hereunder
and to  provide  the  Services  contracted  for  herein in  compliance  with all
applicable laws and  regulations.  The Consultant  shall continue to provide the
services of any Key Person for the benefit of the Company and shall  immediately
inform the Company of and incapacity or  indisposition of any Key Person working
for  Consultant  that would  result in his being  unable to provide his services
hereunder.

6.4 Indemnification and corrective Measures:

In the event of a (a) material and serious breach of its duties hereunder or (b)
a repeated  violation  its duties  hereunder the Company shall have the right to
terminate the present Agreement with immediate effect.

7.    COMPENSATION, EXPENSES AND INCENTIVE.

7.1 For the Services  provided  herein,  the Company shall pay the  Consultant a
non-refundable  retainer  fee of  $36,500.00  per month to be paid in advance as
follows:  (i) $197,100 on execution of the present  Agreement;  (ii) $197,100 on
April 21, 2006; (iii) $197,100 on August 25, 2006; (iv) $197,100 on December 22,
2006 and (v)  $197,100 on March 23,  2007.  All monies  shall be payable in U.S.
Funds and wire transferred to the Consultant's bank account.

7.2 In providing the Services,  the Consultant  will be responsible  for all the
costs and expenses related to the provision of such Services.

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<PAGE>

7.3 As a further  incentive to the  Consultant,  the Company agrees to issue the
Consultant  the  following  warrants  to  acquire  the  Company's  unregistered,
restricted shares of common stock:
            (i)   200,000  warrants at an exercise  price of $2.00 per  warrant;
                  and
            (ii)  200,000  warrants at an exercise  price of $2.50 per  warrant;
                  and
            (iii) 200,000 warrants at an exercise price of $3.00 per warrant.
The  Warrants  shall  expire on  Wednesday,  December  31,  2008 and shall  have
`piggyback' registration rights.

8.    BILLING AND PAYMENT.

The basic  remuneration  provided for in Paragraph  7.1 shall be due on the date
recorded therein and payable without invoicing or billing.  Payments for special
services and out of pocket expenses shall be as agreed  according to invoice and
as agreed from time to time.

The  Company  shall have the right at its sole  discretion  to settle the entire
remuneration  due by paying the full amount of the  contract  in advance  within
sixty (60) days of the signature of the present Agreement. In the event that the
Company shall elect to pay the contract remuneration in advance, the full amount
payable shall be discounted by fifteen percent (15%). The Company shall have the
right to pay the remuneration in cash or in shares.  In the event of the payment
of the  remuneration  in shares,  such shares  shall be  unregistered  shares of
common  stock (half of which shall carry  "piggyback"  registration  rights) and
valued at a price above the market price on the date of issuance.

9.    RELATIONSHIP OF PARTIES.

The Consultant is an independent contractor, responsible for compensation of its
agents,  employees and  representatives,  as well as all applicable  withholding
there  from and taxes  thereon  (including  unemployment  compensation)  and all
workmen's  compensation  insurance.   This  Agreement  does  not  establish  any
partnership,  joint venture, or other business entity or association between the
parties and neither  party is intended to have any  interest in the  business or
property of the other.

10.   TERMINATION.

This  Agreement may not be terminated by either party prior to the expiration of
the term provided in Paragraph 2 above except as follows:

(A) By any party:

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<PAGE>

            (i)   Upon failure of the other party to cure a default under,  or a
                  breach of, this Agreement  within thirty (30) days after prior
                  written  notice has been given as to such default or breach by
                  the terminating party;
            (ii)  Upon the bankruptcy or liquidation of the other party; whether
                  voluntary or involuntary;
            (iii) Upon the other  party  filing to benefit  from any  insolvency
                  law; and/or
            (iv)  Upon the other  party  having or  applying  to have a receiver
                  appointed to have  jurisdiction over all or a substantial part
                  of such party's assets or business.

      (B)   By the Company:
            (i)   in accordance with Section 6.4; and/or
            (ii)  in the event of the loss by the Consultant of any Key Person.

11.   ATTORNEY FEES.

Should either party  default in the terms or  conditions  of this  Agreement and
suit be  filed  as a result  of such  default,  the  prevailing  party  shall be
entitled to recover all costs incurred as a result of such default including all
costs and reasonable  attorney fees,  expenses and court costs through trial and
appeal.

12.   WAIVER OF BREACH.

The waiver by either party of a breach of any provision of this Agreement by the
other  party  shall not operate or be  construed  as a waiver of any  subsequent
breach by the other party.

13.   ASSIGNMENT.

There shall be no assignment  of this  agreement by the  Consultant  unless such
assignment   shall  have  been  approved  by  the  Company  in  advance  and  by
countersignature  of the agreement giving effect to such assignment.  The rights
and  obligations of the parties under this Agreement  shall inure to the benefit
of, and shall be binding upon, the successors and assigns of the parties.

14.   NOTICES.

Any notice  required  or  permitted  to be given under this  Agreement  shall be
sufficient  if in  writing,  and if  sent  by  certified  mail,  return  receipt
requested, to the principal office of the party being notified.

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<PAGE>

15.   ENTIRE AGREEMENT.

This instrument contains the entire agreement of the parties and may be modified
only by agreement in writing,  signed by the party against whom  enforcement  of
any  waiver,  change,  modification,  extension  or  discharge  is sought.  This
Agreement  shall  be  governed  for all  purposes  by the  laws of the  State of
California.  If any provision of this Agreement is declared void, such provision
shall be deemed severed from this  Agreement,  which shall  otherwise  remain in
full force and effect.

      IN WITNESS  WHEREOF,  the parties  hereto,  intending to be legally bound,
have executed this Agreement.

ATTEST                           FOR: MEDIA RELATIONS STRATEGY, INC.

-----------------------------         ------------------------------------------
Secretary                        BY:  Martin L. Goldberg, President

ATTEST:                          FOR: COMPOSITE TECHNOLOGY CORPORATION

-----------------------------         ------------------------------------------
Secretary                        BY:  Benton Wilcoxon, Chairman & CEOSETTLEMENT AGREEMENT AND RELEASE

      This Settlement Agreement and Release (the "Agreement") is dated December
29, 2005 and is made by and between GlobalNet Corporation ("GlobalNet"),
including, but not limited to, any of its subsidiaries, affiliates, officers,
employees or agents (collectively, "GlobalNet") and Mr. Mark Wood ("Wood")
(collectively, the "Parties").

      WHEREAS, bona fide disputes and controversies have arisen between
GlobalNet and Wood with respect to (1) the amount of compensation due and
payable to Wood for his services during his employment and/or association with
GlobalNet and its subsidiaries, (2) certain loans made by Wood to GlobalNet, and
related interest, and (3) the amount of compensation due and payable to Wood
with respect to his employment contract with GlobalNet dated February 1, 2003
(the "Employment Contract"), (collectively, the "Claims"); and,

      WHEREAS, Wood has asserted that the Claims entitle him to payments
totaling $197,424, as follows:

      1)    a loan made by Wood to GlobalNet in the amount of $17,924 (the
            "Loan");

      2)    unpaid interest in connection with Loan, including alleged default
            interest, in the amount of $14,500 (the "Loan Interest");

      3)    deferred compensation payments, in the amount of $140,000 (the
            "Deferred Compensation"); and,

      4)    expenses paid on behalf of GlobalNet , in the amount of $25,000 (the
            "Expenses").

      WHEREAS, GlobalNet paid Wood $96,500 (the "Payment") in April 2005 with
respect to certain of the Claims; and,

      WHEREAS, the parties intend by this Agreement to clarify their intentions
with respect to settlement of the Claims and the characterization of prior
payments made to Wood; and,

<PAGE>

         WHEREAS, by reason of such disputes and controversies, the Parties
hereto desire to compromise and settle all claims and causes of action of any
kind whatsoever by and between Wood and GlobalNet related to the Claims and
Payment and intend that the full terms and conditions of such compromise and
settlement be set forth in this Agreement;

       NOW THEREFORE, for and in consideration of (i) the above recitals, and
(ii) other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Parties do hereby agree as follows:

      1. GlobalNet agrees that the following items, made pursuant to alleged
agreements between November 1, 2003 and the date of execution of the Agreement,
shall be considered as duly authorized by the Board of Directors, and represent
valid claims for compensation by Wood as follows:

      (a)   $17,924 paid to Wood pursuant to the Loan;

      (b)   $14,500 payable to Wood pursuant to the Loan Interest;

      (c)   $140,000 payable to Wood pursuant to the Deferred Compensation; and,

      (d)   $25,000 payable to Wood pursuant to the Expenses.

      2. Wood agrees that the $96,500 payment made in April of 2005, represents
a full satisfaction of his claims against GlobalNet as outlined in paragraph one
above. The Parties hereby agree that the proper allocation of the $96,500
payment is as follows: $17,924, representing the Company's repayment of the
Loan; $14,500, representing the Company's payment of the Loan Interest; $39,076
representing the Company's payment of deferred compensation; and $25,000
representing the Company's payment of the Expenses to Wood.

      3. Wood accepts and agrees that, except as otherwise provided in this
Agreement, as of the date of execution of this Agreement that there is no other,
direct or indirect, debt or claim, of any character or kind, between Wood and
GlobalNet, and that should there be any unknown, direct or indirect, claim, that
such claim shall be included, released and/or indemnified under this Agreement.
Notwithstanding the foregoing, however, normal travel and entertainment expenses
incurred since October 31, 2005 shall not be considered as included in this
Release;

<PAGE>

      4. No later than December 29, 2005, Wood shall remit to the Company
$18,067 to cover tax withholding obligations relating to payments described in
this Agreement. GlobalNet agrees to immediately remit that entire sum to proper
federal and, if applicable, state taxing authorities, and further agrees to
indemnify and defend Wood from and against any and all tax liabilities imposed
or assessed against Wood as a result of GlobalNet's failure or refusal to remit
such funds to appropriate taxing authorities.

      5. Wood agrees that this Agreement relates only to the Claims, and the
Payments, and that no other relationship between the Parties is affected under
this Release and Indemnification. Specifically, Wood agrees that all expense
reporting by Wood to GlobalNet is not affected by this Release and
Indemnification, and that Wood will provide acceptable documentation of all such
amounts to GlobalNet. Notwithstanding the foregoing sentence, however, in
consideration of the substantial discount on overall claims settlement,
GlobalNet agrees that should aggregate expense submissions not be able to be
sufficiently documented in an amount not to exceed twenty-five thousand dollars
($25,000), GlobalNet shall not seek reimbursement from Wood but shall report any
such unsubstantiated amounts as additional taxable income.

      6. Upon execution of this document, Wood releases and discharges GlobalNet
and its heirs, executors, administrators, parent company, holding company,
subsidiaries, successors, predecessors, officers, directors, principals, control
persons, past and present employees, insurers, and assigns from all actions,
cause of action, suits, debts, dues, sums of money, accounts, reckonings, bonds,
bills, specialties, covenants, contracts, controversies, agreements, promises,
variances, trespasses, damages, judgments, extents, executions, claims, and
demands whatsoever, in law, admiralty or equity, against GlobalNet, related in
any way whatsoever to the Claims and Payment, that Wood or his heirs, executors,
administrators, successors and assigns ever had, now have or hereafter can,
shall or may, have for, upon, or by reason of any matter, cause or thing
whatsoever, whether or not known or unknown, from the beginning of the world to
the day of the date of this Release. Notwithstanding the foregoing, however,
this agreement shall not release, waive or otherwise limit any claim or right of
Wood relating to or arising from: (1) his ownership of GlobalNet securities; or
(2) his right to indemnification and/or defense, whether arising under any
certificate of incorporation or bylaw, any contract, any policy of insurance, or
otherwise.

<PAGE>

      7. Upon execution of this document, GlobalNet releases and discharges
Wood, and his heirs, executors, administrators, parent company, holding company,
subsidiaries, successors, predecessors, officers, directors, principals, control
persons, past and present employees, insurers, and assigns from all actions,
cause of action, suits, debts, dues, sums of money, accounts, reckonings, bonds,
bills, specialties, covenants, contracts, controversies, agreements, promises,
variances, trespasses, damages, judgments, extents, executions, claims, and
demands whatsoever, in law, admiralty or equity, against Wood, related in any
way whatsoever to the Claims and Payment, that GlobalNet or its heirs,
executors, administrators, successors and assigns ever had, now have or
hereafter can, shall or may, have for, upon, or by reason of any matter, cause
or thing whatsoever, whether or not known or unknown, from the beginning of the
world to the day of the date of this Release.

      8. In the event of any dispute relating to or arising from this Agreement,
the party substantially prevailing therein shall recover the costs and expenses
incurred in connection with the dispute, including reasonable attorneys' fees.

      9. It is expressly understood and agreed by the Parties hereto that the
terms hereof are contractual and not merely recitals, that the agreements herein
contained and the consideration herein transferred are to compromise doubtful
and disputed claims, avoid litigation, and buy peace, and that no payments made
nor releases or other consideration given shall be construed as an admission of
liability, all liability being expressly denied.

      10. The Parties expressly agree to the filing of this Agreement as a
Material Contract on Form 8-K with the Securities and Exchange Commission.

      11. This Agreement contains the entire agreement and understanding
concerning the subject matter hereof between the parties and supersedes and
replaces all prior negotiations, proposed agreement and agreements, written or
oral. Each of the parties hereto acknowledges that neither any of the parties
hereto, nor agents or counsel of any other party whomsoever, has made any
promise, representation or warranty whatsoever, express or implied, not
contained herein concerning the subject hereto, to induce it to execute this
Agreement and acknowledges and warrants that it is not executing this Agreement
in reliance on any promise, representation or warranty not contained herein.

<PAGE>

      12. This Agreement may not be modified or amended in any manner except by
an instrument in writing specifically stating that it is a supplement,
modification or amendment to the Agreement and signed by each of the parties
hereto.

      13. Should any provision of this Agreement be declared or be determined by
any court or tribunal to be illegal or invalid, the validity of the remaining
parts, terms or provisions shall not be affected thereby and said illegal or
invalid part, term or provision shall be severed and deemed not to be part of
this Agreement.

      14. This Agreement may be executed in facsimile counterparts, each of
which, when all parties have executed at least one such counterpart, shall be
deemed an original, with the same force and effect as if all signatures were
appended to one instrument, but all of which together shall constitute one and
the same Agreement.

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

MARK T. WOOD                                GLOBALNET CORPORATION

/s/ Mark T. Wood                            /s/Thomas P. Dunn
----------------                            -----------------------------
                                            Name: Thomas P. Dunn
                                            Title: CFO

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