Document:

Exhibit 10.48
                                 -------------

                             VENTURE FUND AGREEMENT
                             ----------------------

     This Venture Fund Agreement  ("Agreement") is made effective the 3rd day of
July,  2000,  and entered into at San Diego,  California,  by and between ZiaSun
Technologies,  Inc.,  ("ZiaSun")  a Nevada  corporation,  located at 462 Stevens
Avenue,  Suite 106, Solana Beach,  California 92075, and the appropriate McKenna
Group entity (Yet to be named,  but  hereinafter  referred to as  "TAMEG").  The
Mckenna Group, ("TMG") is a general fund membership, located at 1755 Embarcadero
Road, Palo Alto, California 94303

     WHEREAS,  ZiaSun is a holding company for worldwide  acquisitions,  mergers
and/or consolidations,  which are compatible with its long-term strategic plans;
and,

     WHEREAS,  TAMEG is an Internet  consulting firm, which provides  consulting
services to leading and emerging technology companies worldwide; and,

     WHEREAS,  ZiaSun  and  TAMEG  are  desirous  of  pooling  their  resources,
expertise and capital to create a venture fund to perform and support incubation
activities for emerging technology companies;

                            Formation of Venture Fund
                            -------------------------

     NOW,  THEREFORE,  the  parties  to this  Agreement  do  hereby  voluntarily
associate  themselves  together as venture fund members subject to the following
terms and conditions:

                              Name of Venture Fund
                              --------------------

     1.   The name of this venture fund shall be "McKenna-ZiaSun" ("MKZ").

                            Purposes of Venture Fund
                            ------------------------

     2.   The purposes of this venture fund shall be:

          2.1 To enter into a  relationship  under  which  ZiaSun and TAMEG will
     make direct investments in emerging-technology companies.

          2.2 To invest in emerging,  early-stage  technology companies,  either
     through the McKenna Venture  Accelerator  ("MVA"),  a new Limited Liability
     Company to be organized under the laws of the State of Delaware, U.S.A., or
     through  any other  organization  or means  authorized  by  either  the MKZ
     Investment Board or the MVA Investment Board.

                                        1
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                          Ownership and Profit Interest
                          -----------------------------

     3.   The  membership  and  "profits"  interest  of MKZ shall be  divided as
          follows:

          3.1 ZiaSun will contribute 100% of the funding to the venture fund.

          3.2 ZiaSun  shall  receive  sixty  percent  (60%) of the first  twenty
     million and no/100 dollars  ($20,000,000.00) of MKZ distributions and TAMEG
     shall   receive  a  carried   interest  of  forty  percent  (40%)  of  such
     distributions.  3.3 ZiaSun shall receive 51% of distributions  above twenty
     million  and no/100  dollars  ($20,000,000.00)  and TAMEG  shall  receive a
     carried  interest  of  forty-nine  percent  (49%)  of  such  distributions.
     Exclusive Relationship

     4.   This   relationship   shall  be  deemed  exclusive  in  the  following
          restricted  sense:  no other  parties shall be principals of MKZ other
          than  ZiaSun  and  TAMEG  principals,  unless  both  parties  agree in
          writing. Exclusivity will not extend beyond profit interest in MKZ and
          will  specifically  not  cover  other  vehicles  that  ZiaSun or TAMEG
          principals may already be involved in or may become involved in during
          the term of this agreement.

                             Extent of Relationship
                             ----------------------

     5.   It is expressly  acknowledged  and agreed by ZiaSun and TAMEG that all
          investments  identified  and/or reviewed by either MKZ or MVA shall be
          subject to this Agreement. As such,  notwithstanding the nature of the
          investment,  or the entity  and/or  individuals  who actually make the
          investment, in all approved MVA investments,  MKZ shall be entitled to
          an equity  participation  of the target  entity's  outstanding  stock,
          including  all classes and series  thereof,  as measured on the day of
          the closing of the investment, in a percentage mutually agreed upon by
          ZiaSun  and  the  MVA  Investment   Board  for  each  and  every  deal
          undertaken.  Said  stock  shall be issued and held in the name of MKZ,
          with distributions  and/or gains to be distributed to ZiaSun and TAMEG
          as determined by the MKZ Investment Board.

                 Funding, Identification and Staffing of Venture
                 -----------------------------------------------

     6.   MKZ shall be funded and staffed, as follows:

          6.1  Initial  Payment  to MKG:  Cash  in the  amount  of  five-hundred
     thousand  and  no/100  dollars  ($500,000.00)  already  transferred  to The
     McKenna Group as a good faith  deposit on April 25, 2000 to cover  start-up
     costs,  consulting services and initial equity stubs acquired between April
     25 and the date of the final agreement.  Every  reasonable  effort shall be
     made  on  the  part  of  the  McKenna  Group  to  absolutely  minimize  the
     administrative and overhead costs incurred by MKZ and/or MVA

                                       2
<PAGE>
          6.2  Initial  Capital:  ZiaSun  shall  contribute  a total of fourteen
     million, five hundred thousand and no/100 dollars  ($14,500,000.00),  which
     shall consist of the following:

               6.2.1 Cash in the  amount of three  million  and  no/100  dollars
          ($3,000,000.00)  to be  transferred  to the MKZ account on the date of
          execution of this agreement.

               6.2.2  Cash in the  amount  of two  million  and  no/100  dollars
          ($2,000,000.00)  to be  transferred  to the MKZ  account  on or  about
          *September 1, 2000.

               6.2.3 **Cash in the amount of two million,  five-hundred thousand
          and  no/100  dollars  ($2,500,000.00)  to be  transferred  to the  MKZ
          account on or about *November 1, 2000.

               6.2.4  **Cash  in  the  amount  of  three  million,  five-hundred
          thousand and no/100 dollars  ($3,500,000.00)  to be transferred to the
          MKZ account on or about *January 1, 2001.

               6.2.5  **Cash  in  the  amount  of  three  million,  five-hundred
          thousand and no/100 dollars  ($3,500,000.00)  to be transferred to the
          MKZ account on or about *April 1, 2001.

               NOTES:  (*)The actual dates of cash transfer may vary slightly as
               required to best meet the needs of MKZ,  and/or  depending on the
               immediate availability of cash for transfer.  (**)ZiaSun reserves
               the right to infuse  its stock in  equivalent  amounts in lieu of
               cash for these payments.

               6.2.6 Upon  execution of this  Agreement,  two million and no/100
          dollars  ($2,000,000.00)  in cash shall be available for the following
          purposes:  (a) to TAMEG to help it meet the business  consulting needs
          of MKZ; (b) for  acquisition  of present or committed  warrant  rights
          from TAMEG  clients  and/or  warrants  and options in  companies to be
          incubated by MVA, as directed  and  authorized  by the MKZ  Investment
          Board.

          6.3 Identification and Staffing:  TAMEG authorizes the use of its name
     and shall contribute consulting services to MKZ, as follows:

               6.3.1 TAMEG  authorizes  MKZ to use the name,  "McKenna,"  in all
          advertising and promotion of MKZ,  subject to TAMEG's prior review and
          approval in writing of all proposed materials and/or promotions.

               6.3.2 TAMEG shall provide ZiaSun worldwide  consulting  services,
          at a discount  of at least  fifteen  percent  (15%) from its  standard
          published  hourly rates,  to assist MKZ in identifying  and attracting
          third-party  investors;  and identifying,  qualifying,  evaluating and
          negotiating  acquisitions,  mergers and  consolidations  of  emerging,
          early-stage  technology  companies to be considered  for investment by
          MKZ, as well as any other matter requested by ZiaSun.

               6.3.3 The five hundred thousand and no/100 dollars  ($500,000.00)
          dollars already  transferred to the McKenna account shall be available
          to build the  operations of MKZ to a sufficient  level to  accommodate
          the needs of this venture. Any and all disbursements will be made at a
          time and in a manner that is appropriate for the business requirements
          of MKZ.

                                       3
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                           Organization and Governance
                           ---------------------------

     7.   The MKZ Investment Board shall be formed, as follows:

          7.1 Authority

               7.1.1 *To oversee the disbursement of all funds of MKZ.

               7.1.2 *To determine the level of investment in MVA.

               7.1.3 *To evaluate and select all investments to be made by MKZ.

               7.1.4 *To oversee the disbursement of portfolio  company stock to
          the MKZ fund participants.

               *NOTE:  Whenever  possible,  the goal of the MKZ Investment Board
               and the MVA Investment  Board shall be to manage all  investments
               in such a manner that they are  eligible to receive the  benefits
               of Section 1045 of the Internal Revenue Code of 1986, as amended.

               7.1.5 At its  discretion,  the MKZ  Investment  Board  shall have
          contemplated transactions and/or disbursements reviewed by appropriate
          professionals,   including  without  limitation,  a  certified  public
          accountant, prior to execution.

          7.2 Composition:

               7.2.1 ZiaSun shall appoint two (2) members.

               7.2.2 TAMEG shall appoint two (2) members.

               7.2.3 ZiaSun and TAMEG shall jointly  approve the  appointment of
          two non-executive directors.

          7.3 Voting: Each member of the MKZ Investment Board shall have one (1)
     vote. All decisions shall be approved by a two-thirds (2/3) vote.

          7.4 Investment  Portfolio:  MKZs investment portfolio will be held and
     maintained in MKZ.

                                       4
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                                 Management Team
                                 ---------------

     8.   A  management  team  consisting  of  no  more  than  five  (5)  senior
          executives,  reporting to the MKZ Investment Board,  shall be employed
          to oversee operations of MKZ. The MKZ Board shall unanimously  approve
          all senior executive hires therefor;  such as, positions equivalent to
          the Chief Executive  Officer and Chief Financial  Officer.  Up to five
          percent  (5%) of capital may be expended  annually to cover  operating
          costs.

                                Formation of MVA
                                ----------------

     9.   Promptly following execution of this Agreement,  a new business entity
          shall be formed,  which shall  perform the initial  screening  for all
          potential   investments  and  provide  a  vehicle  from  which  target
          companies for investments may be assimilated and incubated.

          9.1 Form:  The new business  entity shall be initially  organized as a
     Limited Liability  Company under the laws of the State of Delaware,  U.S.A.
     ("LLC").   The  Operating  Agreement  shall  authorize  the  members  by  a
     two-thirds  (2/3)  vote to elect to  convert  to a  -C"(Y)corporation  at a
     future date, if appropriate to accommodate the long-term strategic goals of
     the LLC, e.g., in anticipation of an initial public offering.

          9.2 Name: The name shall be:  "McKenna  Venture  Accelerator,  L.L.C."
     ("MVA").

          9.3 Governance:

               9.3.1 MVA Investment Board:

                    9.3.1.1   Duties:   The  MVA   Investment   Board  shall  be
               responsible   for   reviewing   and   evaluating   all  potential
               investments of MVA. In this role, the MVA Investment  Board shall
               screen the  potential  investments  and select only those,  which
               appear viable,  and shall determine whether the investment should
               be  retained  by MVA,  or  directed  to MKZ for  evaluation  as a
               suitable investment for MKZ or other appropriate entities.

                    9.3.1.2   Approval:   All   investments   to  seed  emerging
               technology  companies  shall be  approved by a  two-thirds  (2/3)
               majority vote.

                    9.3.1.3  Composition:  The MVA  Investment  Board  shall  be
               comprised of the  following:

                    A.   Investors: One (1) seat per investing entity.

                    B.   TAMEG:    Two  (2) seats.

                    C.   MVA Management Team: One (1) seat.

                                       5
<PAGE>
               9.3.2 MVA Management  Team: A management  team,  consisting of no
          more than  seven  (7)  senior  executives,  which  reports  to the MVA
          Investment  Board,  shall be  employed to oversee  operations  of MVA.
          TAMEG and the  investors  in MVA shall  mutually  approve  all  senior
          executive hires therefor;  such as, positions  equivalent to the Chief
          Executive Officer and Chief Financial Officer.

          9.4 Funding and Ownership:

               9.4.1 Funding: MVA shall have a total initial funding of at least
          twenty  million and no/100  dollars  ($20,000,000.00),  which shall be
          contributed by ZiaSun through MKZ and by other third-party  investors.
          MKZ shall have the option of  contributing  a minimum of five  million
          and no/100  dollars  ($5,000,000.00)  and up to ten million and no/100
          dollars ($10,000,000.00) to MVA.

               9.4.2 Ownership of MVA:

                    9.4.2.1 TAMEG shall have a membership and profit interest of
               up to up to twenty-five percent (25%) of MVA.

                    9.4.2.2 MVA  Management  shall have a membership  and profit
               interest of up to fifteen percent (15%) of MVA.

                    9.4.2.3 All Investors, including MKZ, will collectively have
               a sixty percent (60%) membership interest of MVA.

                    9.4.2.4  MKZ  shall own a  percentage  of MVA equal to sixty
               percent (60%) times the ratio of its dollar  investment in MVA to
               the total dollar investment in MVA.

               9.4.3 Deal Flow Among Parties

                    9.4.3.1 ZiaSun shall not be obligated to present its flow of
               pre-IPO investment opportunities to either MKZ or MVA.

                    9.4.3.2  MVA will give right of first  refusal on deals that
               it  chooses  not to fund to MKZ,  subject  to the  consent of the
               relevant majority of the shareholders in the investee company.

                    9.4.3.3  MKZ shall  offer the deals that it  chooses  not to
               fund to ZiaSun,  subject to the consent of the relevant  majority
               of the shareholders in the investee company.

          9.5 Identification and Staffing:  TAMEG shall authorize the use of its
     name and contribute services to MVA, as follows:

                                       6
<PAGE>
                    9.5.1 TAMEG authorizes MVA to use the name,  McKenna, in all
               advertising and promotion of MVA,  subject to TAMEGs prior review
               and approval of all proposed materials and/or  promotions,  which
               approval shall not be unreasonably withheld.

                    9.5.2 TAMEG shall provide MVA worldwide consulting services,
               at a discount of at least fifteen percent (15%) from its standard
               published hourly rates, to assist MVA in incubating, assimilating
               and launching the early stage technology  companies  approved for
               investment by MVA.

          9.6 Use of Investment Funds:

                    9.6.1  Disbursement  Rules: MVA will disburse ninety percent
               (90%) to  ninety-five  percent  (95%) of its funds  derived  from
               investments directly to the targeted investment companies,  or in
               the payment of services,  which directly  benefit said companies.
               The balance of its funds derived from investments  shall be spent
               on critical  infrastructure  items for MVA; such as leased office
               premises, and the costs of the dedicated management team of MVA.

                    9.6.2 Budget: The Management Team of MVA shall develop,  and
               submit to the MVA Investment Board for approval, an annual budget
               and statement of use of funds by targeted investment companies.

                    9.6.3 Modification:  All material departures or changes from
               the aforementioned disbursement rules and/or approved budget will
               require the prior written approval of the MVA Investment Board.

          9.7 Investment Portfolio:  MVA's investment portfolio will be held and
     maintained in MVA.

          9.8 Tax-Free Liquidation of Stock: Whenever possible,  the goal of the
     MVA  Investment  Board shall be to manage all  investments in such a manner
     that they are  eligible  to receive  the  benefits  of Section  1045 of the
     Internal Revenue Code of 1986, as amended.

          9.9 Equity Participation:  For each company reviewed by MKZ and/or MVA
     which culminates in an investment by any entity or individual, MKZ shall be
     entitled  to an equity  participation  of the  target  entitys  outstanding
     stock,  including all classes and series thereof, as measured on the day of
     the closing of the  investment,  in a  percentage  mutually  agreed upon by
     ZiaSun and the MVA  Investment  Board for each and every  deal  undertaken,
     which  stock  shall be  issued to MKZ in the same  manner as stock  will be
     issued to other investors.

          9.10 Expert Advice: At its discretion,  the MVA Investment Board shall
     have  all  contemplated   transactions  and/or  disbursements  reviewed  by
     appropriate professionals, including without limitation, a certified public
     accountant, prior to execution.

                                       7
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                                   Accounting
                                   ----------

     10.  The management team of MKZ shall be responsible for the management and
          financial affairs of MKZ, in accordance with the following:

               10.1 No non-budgeted expenditures or liabilities shall be made in
          the name or on the credit of the organization exceeding fifty thousand
          and  no/100  dollars  ($50,000.00)  per  transaction,  or one  hundred
          thousand  and no/100  dollars  ($100,000.00)  per month,  without  the
          express written consent of both ZiaSun and TAMEG.

               10.2 Bank accounts in the names of MKZ shall be  maintained.  All
          expenditures made by or on behalf of the entity shall be made by check
          drawn on its account and all non-budgeted monies received on behalf of
          the entity shall be deposited into this account.  All checks in excess
          of fifty  thousand and no/100  dollars  ($50,000.00)  on said accounts
          must be signed by an  authorized  representative  of both  ZiaSun  and
          TAMEG.

               10.3 At all times during the  continuance of MKZ,  accurate books
          of account shall be maintained in accordance  with generally  accepted
          accounting  procedures  in which all matters  relating to this venture
          shall be entered. The books of account shall be open to examination by
          either party or its agent upon reasonable written notice.

               10.4 A  complete  accounting  of the  operation  of MKZ  shall be
          rendered as of the close of business each calendar month to each party
          hereto within ten (10) days after the close of each month.

               10.5 Funds shall only be disbursed  to cover  actual  expenses as
          they are incurred; or for investments authorized by the MKZ Investment
          Advisory  Board.  Any excess funds shall be distributed  pro rata upon
          termination  of the venture fund to the venture fund members after all
          debts, liabilities and obligations of the venture fund have been fully
          satisfied.

               10.6 MVA  shall be  required  to  implement  the same  accounting
          principles and practices as set forth in Items 10.1 through 10.5, plus
          any other accounting principles and practices,  which may be unique in
          nature, and specific to the laws of an investor's country of domicile.

                             Prohibited Transactions
                             -----------------------

     11.  The parties to this  Agreement  are  prohibited  from  engaging in the
          following transactions:

               11.1 Name: During the term of this Agreement,  no party shall use
          the name of the venture fund except as specifically authorized in this
          Agreement.

               11.2 Venture Fund Members Confidential  Information:  The venture
          fund members possess certain confidential  information regarding their
          respective business affairs, plans or activities ("Information"). Said
          Information   includes,   but  is  not  limited  to,  trade   secrets,
          proprietary  information,  business  strategies,   shareholder  names,
          customer names, marketing plans, supplier names, costs,  applications,
          specifications,  software, formulas, plans, designs, and manufacturing
          procedures.  During the term of this  Agreement,  each party agrees to
          disclose  this  Information  to the other  party,  as the party  deems
          necessary in its sole  discretion  for the sole purpose of performance
          under this  Agreement.  The parties agree to utilize such  Information
          only for the purposes  described  herein,  and to otherwise  hold such
          Information  confidential  pursuant to the terms of this Agreement and
          subject to the following conditions:

                                       8
<PAGE>

                    11.2.1 To hold all  Information  in trust and confidence and
               agree it shall be used  only  for the  contemplated  purpose  and
               shall not be used for any other purpose or disclosed to any other
               third party.

                    11.2.2 The obligations of  non-disclosure  and non-use shall
               be for  five  (5)  years  from  the  date  of  disclosure  of the
               Information.

                    11.2.3  It  is  understood,  the  foregoing  obligations  of
               confidentiality  and non-use  shall not apply to any  Information
               known by the parties  prior to disclosure  under this  Agreement,
               generally  known to the public,  or disclosed to the parties by a
               third party having a legal right to make such disclosure.

          11.3  Conduct:  During  the term of this  Agreement,  no party  shall:

                    11.3.1  Do any  other  act or deed  with  the  intention  of
               harming the business operations of the other party.

                    11.3.2 Do any act  contrary to this  Agreement,  except with
               the prior express written approval of the other party.

                    11.3.3 Do any act that would make it  impossible to carry on
               the intended purpose of this Agreement.

                             Right of First Refusal
                             ----------------------

     12.  Any transfer or sale of the  ownership  interest in MKZ by the venture
          fund members to a third party shall be regulated as follows:

               12.1  The  parties  to this  Agreement  agree  that  any  binding
          instrument  with a third party for the sale or transfer of all or part
          of a venture fund members  interest in MKZ shall be subject to a Right
          of First Refusal of the other venture fund member. Such Right of First
          Refusal  shall  entitle the other  venture  fund member to acquire the
          offered  shares at the price and on the terms and  conditions  no less
          favorable than those  contained in such  instrument by serving written
          notice to the selling  party within ten (10) days after receipt of the
          copy of such instrument, which may be sent by facsimile.

                                       9
<PAGE>

               12.2 Absent  exercise of such Right of First Refusal by the other
          party to this Agreement,  the  third-party  transaction may proceed to
          closing  without  amendment  of  any  price  or  other  material  term
          immediately following expiration of the ten-day notice period.

                           Termination of Venture Fund
                           ---------------------------

     13.  This venture fund shall  commence on execution of this  Agreement  and
          shall continue until the first of any of the following events occur:

               13.1  Termination on Occurrence of Stated Events:  This Agreement
          will terminate automatically on the occurrence of any of the following
          events:

                    13.1.1 A two-thirds (2/3) vote of the MKZ Investment Board.

                    13.1.2 Any voluntary or  involuntary  assignment or transfer
               by either  party  hereto,  without the consent of the other party
               hereto, of its interest in this venture;

                    13.1.3 A material change in either partys ability to perform
               under  this  Agreement  for a period of thirty  (30)  consecutive
               days.

                    13.1.4  Dissolution,  termination of existence,  insolvency,
               business failure,  appointment of a receiver,  assignment for the
               benefit of creditors, or the commencement of any proceeding under
               any  bankruptcy or insolvency  law by or against  either party to
               this Agreement.

               13.2  Termination  for  Default:  If any  party  defaults  in the
          performance  of  this  Agreement  or  materially  breaches  any of its
          provisions,  the  non-breaching  party may terminate this Agreement by
          giving written  notification  to the breaching  party.  Said notice of
          termination shall be effective immediately on receipt of notice by the
          breaching party, one (1) day after sending the notice by facsimile, or
          five (5) days after sending the notice by U.S. mail in accordance with
          this  Agreement,  whichever  occurs first.  The party in default shall
          have twenty-one (21) days after the notice of termination is effective
          to  cure  the  default.  If the  default  is  not  cured  within  said
          twenty-one (21) days, this Agreement  shall  automatically  terminate.
          For the purposes of this paragraph,  material breach of this Agreement
          includes, but is not limited to, the following:

                    13.2.1 Any party's material breach of any  representation or
               agreement contained in this Agreement.

                    13.2.2 Any voluntary or  involuntary  assignment or transfer
               by either  party  hereto,  without the consent of the other party
               hereto, of its interest in this venture.

                                       10
<PAGE>

               13.3 Mutual  Termination:  The parties may, at any time, mutually
          agree to terminate this Agreement.

                                   Winding Up
                                   ----------

     14.  Upon  termination,  the activities of the venture shall be wound up as
          quickly as reasonably possible, all debts, liabilities and obligations
          shall be promptly  paid,  and any excess  funds  shall be  distributed
          prorata to the venture fund members.

                               General Provisions
                               ------------------

     15.  Venture  Members Not Agents:  This  Agreement  does not constitute any
          venture fund member as the agent or legal  representative of the other
          venture fund member for any purpose whatsoever. No venture fund member
          is granted  any  express or implied  right or  authority  by any other
          venture  fund  member  to  assume  or  to  create  any  obligation  or
          responsibility on behalf of, or in the name of, the other venture fund
          member,  or to bind the other  venture  fund  member in any  manner or
          thing whatsoever.

     16.  Indemnity:  Each venture fund member  agrees to defend,  indemnify and
          hold  harmless the other  venture fund member from and against any and
          all liabilities,  claims and expenses  (including without  limitation:
          expert  witnesses  fees,  attorneys fees,  damages,  causes of action,
          suits or judgments  relating to and/or arising out of the venture fund
          members performance under this Agreement).

     17.  Notice of Claims:

               17.1 If  during  the term of this  Agreement,  any  venture  fund
          member  shall  have  reason to  believe  there may be a claim  against
          itself or the other venture fund member  pertaining to any transaction
          growing out of this Agreement,  it shall notify the other venture fund
          member in writing  within ten (10) days after it knows,  or has reason
          to know, the basis of any such claim.

               17.2  Failure  to give the notice  prescribed  by Item 17.1 shall
          relieve the other  venture  fund member from any and all  liability on
          any claim pertaining to any transaction growing out of this Agreement.

               17.3 The provisions of this section shall survive the termination
          of any other provisions of this Agreement.

     18.  Law: This  Agreement  shall be governed by and construed in accordance
          with  the  laws of the  State  of ---  California  without  regard  to
          conflict of laws provisions.

     19.  Attorneys'  Fees: If this  Agreement  gives rise to a lawsuit or other
          legal  proceeding  between any of the parties  hereto,  the prevailing
          party   shall  be   entitled  to  recover   court   costs,   necessary
          disbursements  (including  without  limitation expert witnesses' fees)
          and reasonable  attorneys'  fees, in addition to any other relief such
          party may be entitled. This provision shall be construed as applicable
          to the entire contract.

                                       11
<PAGE>

     20.  Injunctive  Relief:  Venture  fund  members  hereby  agree the subject
          matter of this  Agreement  is unique,  unusual  and  extraordinary  in
          nature such that it has a peculiar value,  the loss of which cannot be
          reasonably or adequately  compensated  in damages in an action at Law.
          Therefore,  each venture fund member  expressly  agrees that the other
          venture fund member, in addition to any other rights or remedies which
          the other  venture  fund  member may  possess,  shall be  entitled  to
          injunctive and other equitable relief to prevent or remedy a breach of
          this Agreement by a venture fund member.

     21.  Binding on Heirs:  This Agreement  shall be binding on and shall inure
          to the benefit of the heirs,  executors,  administrators,  successors,
          and assigns of the venture fund members.

     22.  Jurisdiction/Venue: If any dispute arises out of this Agreement, it is
          agreed  that  jurisdiction  and  venue  shall  lie  exclusively  in  a
          competent court in the County of San Diego, California, U.S.A.

     23.  Entire  Agreement/Modification:  This Agreement supersedes any and all
          other  agreements,  either  oral or in  writing,  between  the parties
          hereto  with  respect  to the  subject  matter  hereof,  and no  other
          agreement,  statement,  or promise  relating to the subject  matter of
          this  Agreement  which  is not  contained  herein  shall  be  valid or
          binding.  Any modification of this Agreement will be effective only if
          it is in writing.

     24.  Assignment:  No venture fund member shall have the right to assign any
          right or  interest  arising  under this  Agreement  without  the prior
          written consent of the other venture fund member.

     25.  Severability: If any provision in this Agreement is held by a court of
          competent  jurisdiction  to be invalid,  void, or  unenforceable,  the
          remaining provisions shall nevertheless continue in full force without
          being impaired or invalidated in any way.

     26.  Waiver:  The waiver by any party of any breach of a provision  of this
          Agreement by the other party shall not constitute a continuing  waiver
          or a waiver of any  subsequent  breach  of the same or of a  different
          provision of this Agreement. Except as otherwise specifically provided
          in this  Agreement,  nothing  contained  herein  shall  be  deemed  to
          restrict  or prevent  any party  from  exercising  legal or  equitable
          rights or from  pursuing  legal or  equitable  remedies in  connection
          herewith.

     27.  Notices and Requests: Except as otherwise provided herein, any notice,
          demand,  or request  required or permitted to be given hereunder shall
          be in writing  and shall be deemed  effective  seventy-two  (72) hours
          after having been sent via  facsimile  to the  addressee at the office
          set forth in the first paragraph of this Agreement.

                                       12
<PAGE>

     28.  Section  Headings:  The headings of the  paragraphs of this  Agreement
          have been set  forth  for  convenience  only and are not  intended  to
          influence the interpretation of this Agreement.

     29.  Construction: Each party cooperated in the drafting of this Agreement.
          If any  construction is to be made of any provision of this Agreement,
          it shall not be  construed  against  either  party on the ground  such
          party was the drafter of the Agreement or any particular provision.

     30.  Time is Of The Essence: Time is of the essence in this Agreement.

     31.  Entity Authorization:  Each signatory of this Agreement represents and
          warrants that this  Agreement and the  undersigneds  execution of this
          Agreement has been duly  authorized  and approved by the  corporations
          Board  of  Directors,  if  necessary,  or the  governing  board of the
          entity, if necessary.  The undersigned officers and representatives of
          the  entities  executing  this  Agreement  on behalf  of the  entities
          represent  and warrant  they  possess  full  authority to execute this
          Agreement on behalf of the entities.

     32.  Execution By Facsimile:  This Agreement may be executed by the parties
          and transmitted by facsimile.  A facsimile  signature of a party shall
          be binding as an original. If a party sends a copy of the Agreement or
          part thereof with that partys signature by facsimile, that party shall
          promptly send the original by first class mail.

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

THE McKENNA GROUP                       ZIASUN TECHNOLOGIES, INC.
-----------------                       -------------------------

By: /s/  Greoff Mott                    By: /s/ Allen D. Hardman
-----------------------------           ----------------------------------------
Geoff Mott                              Allen D. Hardman
Its:  Managing Fund Member              Its: President & Chief Executive Officer

                                        By: /s/ Scott D. Elder
                                        ----------------------------------------
                                        D. Scott Elder
                                        Its: Chairman

                                       13Exhibit 10.49
                                 -------------

                              AMENDED AND RESTATED
                              --------------------

                      EMPLOYMENT AGREEMENT AND STOCK OPTION
                                SENIOR EXECUTIVE
                      -------------------------------------

     This  amended and  restated  employment  agreement  and stock  option for a
senior executive  ("Agreement")  is made effective the 2nd day of August,  2000,
and entered into at San Diego,  California,  by and between ZiaSun Technologies,
Inc., a Nevada  corporation,  located at 462 Stevens  Avenue,  Suite 106, Solana
Beach,  California 92075 hereinafter  referred to as the Employer,  and Allen D.
Hardman, an individual, located at 624 Camino Catalina, Solana Beach, California
92075,  hereinafter referred to as the Executive, in consideration of the mutual
promises made herein, agree as follows:

                          ARTICLE 1. TERM OF EMPLOYMENT
                          -----------------------------

                                 Specified Term
                                 --------------

     1.01 The Company hereby  employs  Executive,  and Executive  hereby accepts
employment  with  Company for a period of five (5) years,  beginning  on July 1,
1997.

                                Automatic Renewal
                                -----------------

     1.02 After completion of the initial term set forth in Section 1.01, above,
and each twelve month anniversary thereafter, this Agreement shall automatically
renew for an additional one (1) year period, unless written notice of the intent
not to renew this  Agreement  is tendered by either the Company or  Executive to
the other  party no less than sixty (60) days  prior to the  expiration  of this
Agreement.

                               Earlier Termination
                               -------------------

     1.03 This Agreement may be terminated earlier as hereinafter provided.

                 ARTICLE 2. DUTIES AND OBLIGATIONS OF EXECUTIVE
                 -----------------------------------------------

                         Title and Description of Duties
                         -------------------------------

<PAGE>

     2.01  Executive  shall serve as President and Chief  Executive  Officer and
shall at all  times be under the  direction  of the  Board of  Directors  of the
Company,  and subject to the policies  established  by the Board of Directors of
the Company.  In that  capacity,  Executive  shall do and perform all  services,
acts, or things necessary or advisable to fulfill the duties of said position.

                  Loyal and Conscientious Performance of Duties
                  ---------------------------------------------

     2.02  Executive  agrees that to the best of his ability and  experience  he
will at all times  loyally  and  conscientiously  perform  all of the duties and
obligations  required of him,  either  expressly or implicitly,  by the terms of
this Agreement.

                  Devotion of Entire Time to Company's Business
                  ---------------------------------------------

     2.03 (a) Executive shall devote his entire  productive time,  ability,  and
attention to the business of Company during the term of the Agreement.

          (b) During the term of this  Agreement,  Executive shall not engage in
     any other business duties or pursuits whatsoever.  Furthermore,  during the
     term  of  this  Agreement,   Executive  shall  not,   whether  directly  or
     indirectly,  render any services of a commercial or professional  nature to
     any other person or  organization,  whether for  compensation or otherwise,
     without the prior  written  consent of Company's  President.  However,  the
     expenditures of reasonable amounts of time for educational,  charitable, or
     professional  activities shall not be deemed a breach of this Agreement, if
     those  activities do not materially  interfere with the services under this
     Agreement,  and shall not require the prior  written  consent of  Company's
     President.

          (c) This Agreement shall not be interpreted to prohibit Executive from
     making passive personal investments or conducting private business affairs,
     if those activities do not materially  interfere with the services required
     under this Agreement. However, except for those activities, Executive shall
     not, directly or indirectly,  acquire,  hold, or retain any interest in any
     business competing with, or similar in nature to, the business of Company.

                             Competitive Activities
                             ----------------------

          (d) During the term of this Agreement, Executive shall not directly or
     indirectly, either as an employee, employer,  consultant, agent, principal,
     partner,  stockholder,   corporate  officer,  director,  or  in  any  other
     individual  or  representative  capacity,  engage  or  participate  in  any
     business that is in competition in any manner  whatsoever with the business
     of Company.

          (e)  Executive  shall  not for a period  of one (1)  year  immediately
     following the  termination of employment  with Company,  either directly or
     indirectly: (1) Make known to any person, firm, or corporation the names or
     addresses of any of Company's clients or any other  information  pertaining
     to them;  or, (2) Call on,  solicit,  or take away,  or attempt to call on,
     solicit,  or take away any of Company's clients on whom Executive called or
     with whom Executive became acquainted during their employment with Company,
     either on their behalf or that of another person, firm, or corporation.

                                  Page 2 of 12
<PAGE>

                       Uniqueness of Executive's Services
                       ----------------------------------

     2.04  Executive  hereby  represents and agrees the services to be performed
under  the  terms  of  this  Agreement  are  of  a  special,   unique,  unusual,
extraordinary,  and intellectual character that gives them a peculiar value, the
loss of which cannot be reasonably or  adequately  compensated  in damages in an
action at law. Executive,  therefore, expressly agrees that Company, in addition
to any other rights or remedies which Company may possess,  shall be entitled to
injunctive  and other  equitable  relief to  prevent  or remedy a breach of this
Agreement by Executive.

                  Indemnification for Negligence or Misconduct
                  --------------------------------------------

     2.05 Executive shall indemnify and hold Company harmless from all liability
for loss,  damage,  or injury to persons or  property  resulting  from the gross
negligence or intentional misconduct of Executive.

                                  Trade Secrets
                                  -------------

     2.06 (a) The  parties  acknowledge  and agree that  during the term of this
Agreement and in the course of the discharge of his duties hereunder,  Executive
shall have access to, and become  acquainted  with,  information  concerning the
operation of Company, including without limitation, financial, personnel, sales,
planning,  and other information which is owned by Company and regularly used in
the  operation  of Company's  business,  and that this  information  constitutes
Company's trade secrets.

          (b)  Executive  agrees  that he shall  not  disclose  any  such  trade
     secrets,  directly or  indirectly,  to any other  person or use them in any
     way,  either  during  the  term  of this  Agreement  or at any  other  time
     thereafter,  except as is  required  in the course of his  employment  with
     Company.

          (c) Executive further agrees all files, records, documents, equipment,
     and similar  items  relating to  Company's  business,  whether  prepared by
     Executive or others,  are, and shall  remain,  exclusively  the property of
     Company.

                        ARTICLE 3. OBLIGATIONS OF COMPANY
                        ---------------------------------

                               General Description
                               -------------------

     3.01 Company shall provide  Executive  with the  compensation,  incentives,
benefits,  and  business  expense  reimbursement  specified  elsewhere  in  this
Agreement.

                                  Page 3 of 12
<PAGE>

                                Office and Staff
                                ----------------

     3.02 Company shall provide  Executive  with office  equipment and supplies,
and other facilities and services, suitable to Executive's position and adequate
for the performance of his duties.

                          Indemnification of Executive
                          ----------------------------

     3.03 Company shall defend,  indemnify and hold harmless  Executive from and
against any and all liabilities,  claims,  expenses (including expert witnesses'
fees), reasonable attorneys' fees, damages, causes of action, suits or judgments
sustained by Executive in direct  consequence  of his discharge of his duties on
Company's behalf. Company further agrees to defend,  indemnify and hold harmless
Executive from and against any and all liabilities,  claims, expenses (including
expert witnesses' fees),  reasonable attorneys' fees, damages, causes of action,
suits or judgments arising out of or resulting from any activities he undertakes
at the request of the Company concerning  Fountain Fresh  International,  a Utah
corporation d/b/a Better stuff,  Inc., located at 2030 North Redwood Road, Suite
70, Salt Lake City, Utah 84116.

                             ARTICLE 4. COMPENSATION
                             -----------------------

     4.01 (a) As  compensation  for the  services to be  rendered  by  Executive
hereunder,  Company shall pay Executive an annual salary of two hundred thousand
and no/100 dollars ($200,000.00), payable not less than once per month.

          (b)  Executive's  base salary  shall be reviewed  annually on or about
     each  anniversary of the date of this Agreement.  If the Company's Board of
     Directors in its sole  discretion  determines  Executive's  performance has
     been effective,  then a salary increase shall be granted in amount not less
     than the cost of living increase, if any, for the greater San Diego area as
     published  in  the  most  recent  issue  of the  San  Diego  Union  Tribune
     newspaper.

                                 Tax Withholding
                                 ---------------

     4.02  Company  shall  have  the  right  to  deduct  or  withhold  from  the
compensation  due to Executive  hereunder  any and all sums required for federal
income and Social Security  taxes,  and all state or local taxes now applicable,
or that may be enacted and become applicable in the future.

                                  Page 4 of 12
<PAGE>

                             ARTICLE 5. STOCK OPTION
                             ------------------------

                                 Option Granted
                                 --------------

     5.01  Company  hereby  grants  Executive  an option to purchase one hundred
thousand  (100,000) shares of the common stock of ZiaSun  Technologies,  Inc., a
Nevada  corporation,  at a  purchase  price of  $2.00.  It is  acknowledged  and
understood by Executive  that this stock option does not qualify as an incentive
stock option as defined in I.R.C. ss. 422(b).

                           Time of Exercise of Option
                           ---------------------------

     5.02  Executive's  right to exercise his option to purchase the one hundred
thousand  (100,000)  shares  shall  vest in equal  installments  of twenty  five
thousand (25,000) shares each on the following dates:

           25,000 Shares               After completion of 1 year of employment.

           25,000 Shares              After completion of 2 years of employment.

           25,000 Shares              After completion of 3 years of employment.

           25,000 Shares              After completion of 4 years of employment.

Executive may exercise his option to purchase the one hundred thousand (100,000)
shares  on the  vesting  date or at any time  thereafter,  and from time to time
until termination of the option as provided in paragraph 5.07, below, so long as
at all  times,  beginning  with the date of the grant of this  option and ending
three (3) months prior to the date of  exercise,  or twelve (12) months prior to
the date of exercise,  if the Executive is disabled within the meaning of United
States  Internal  Revenue  Code  Section 22,  subd.  (e)(3),  Executive  remains
employed.  For purposes of this Agreement,  "employment" means that Executive is
employed  by  Company,  a parent or  subsidiary  corporation  of  Company,  or a
corporation, or a parent or subsidiary corporation of such a corporation issuing
or assuming a stock  option in a  transaction  to which United  States  Internal
Revenue Code Section 425, subd. (a), applies.

                               Method of Exercise
                               ------------------

     5.03 This option shall be exercised by written notice  delivered to Company
at its principal  place of business,  stating the number of shares for which the
option is being  exercised.  The notice must be  accompanied  by a check for the
amount of the purchase price.

                                  Page 5 of 12
<PAGE>
                               Capital Adjustments
                               -------------------

     5.04 (a) The existence of this option shall not affect in any way the right
or  power  of  Company  or its  stockholders  to  make or  authorize  any or all
adjustments,  recapitalizations,  reorganizations, or other changes in Company's
capital structure or its business,  or any merger or consolidation of Company or
any issue of bonds, debentures, preferred or prior preference stocks ahead of or
affecting  the  common  stock or the  rights  thereof,  or the  issuance  of any
securities  convertible  into any common  stock or of any  rights,  options,  or
warrants to purchase any common stock,  or the  dissolution  or  liquidation  of
Company,  any sale or transfer of all or any part of its assets or business,  or
any  other  corporate  act or  proceedings  of  Company,  whether  of a  similar
character or otherwise.

          (b) The shares with respect to which this option is granted are shares
     of the common stock of ZiaSun Technologies,  Inc., a Nevada corporation, as
     presently  constituted,  but if and  whenever,  prior  to the  delivery  by
     Company of all the shares of the stock with respect to which this option is
     granted,  Company shall effect a subdivision or  consolidation of shares or
     other  capital  readjustment,  the  payment of a stock  dividend,  or other
     increase or reduction of the number of shares of the stock outstanding, the
     number of shares of stock then remaining  subject to this option shall: (1)
     In the  event of an  increase  in the  number  of  outstanding  shares,  be
     proportionately  increased,  and the cash  consideration  payable per share
     shall be proportionately  reduced;  and, (2) In the event of a reduction in
     the number of outstanding shares, be proportionately  reduced, and the cash
     consideration payable per share shall be proportionately increased.

          (c) If a business unit,  operating  center,  division or subsidiary of
     Company  is spun  off,  merged  or  consolidated  into a  separate  entity,
     Executive shall be entitled to a proportionate stock option in that entity,
     for the  number of shares  reasonably  determined  by  Company  in its sole
     discretion.

                            Merger and Consolidation
                            ------------------------

     5.05 (a) Following the merger of one or more  corporations  into Company or
any  consolidation  of Company and one or more  corporations in which Company is
the surviving corporation, the exercise of this option shall apply to the shares
of the surviving corporation.

          (b) Notwithstanding any other provision of this Agreement, this option
     shall fully vest on the  dissolution or  liquidation of Company,  or on any
     merger or consolidation in which Company is not the surviving corporation.

                               Transfer of Option
                               ------------------

     5.06 During Executive's lifetime,  this option shall be exercisable only by
Executive.  This option shall not be transferable by Executive other than by the
laws of  descent  and  distribution  upon  Executive's  death.  In the  event of
Executive's  death  during  employment  or during the  applicable  period  after
termination  of  employment  specified in  paragraph  5.02,  above,  Executive's
personal  representatives  may  exercise any portion of this option that remains
unexercised  at the time of Executive's  death,  provided that any such exercise
must be made,  if at all,  during the period  within one year after  Executive's
death,  and  subject to the  option  termination  date  specified  in  paragraph
5.07(c), below.

                                  Page 6 of 12
<PAGE>
                              Termination of Option
                              ---------------------

     5.07 This option shall terminate on the earliest of the following dates:

          (a) The  expiration  of three (3) months from the date of  Executive's
     termination of employment,  as defined in paragraph 5.02, above, except for
     termination due to death or permanent and total disability; or,

          (b) The  expiration  of  twelve  (12)  months  from  the date on which
     Executive's employment,  as defined in paragraph 5.02, above, is terminated
     due to permanent and total disability, as defined in United States Internal
     Revenue Code Section 22, subd. (e)(3); or,

          (c) On  December  3lst of the  ninth  year  after  this  Agreement  is
     executed, which is December 31, 2006.

                              Rights as Shareholder
                              ---------------------

     5.08 Executive will not be deemed to be a holder of any shares  pursuant to
the  exercise  of  this  option  until  he pays  the  option  price  and a stock
certificate  is delivered to him for those shares.  No adjustment  shall be made
for dividends or other rights for which the record date is prior to the date the
stock certificate is delivered.

                               ARTICLE 6. BENEFITS
                               -------------------

                                 Annual Vacation
                                 ---------------

     6.01  Executive  shall be entitled to fifteen (15) days  vacation time each
year with pay.  Executive may be absent from his employment for vacation only at
such times that do not interfere with the reasonable  needs and  requirements of
Company.  In the event that Executive is unable for any reason to take the total
amount of vacation  time  authorized  herein during any year, he may accrue that
time and add it to  vacation  time for any  following  year,  or at  Executive's
option,  may instead  receive a cash payment in an amount equal to the amount of
annual salary attributable to that period of time.

                                  Page 7 of 12

<PAGE>
                                  Paid Holidays
                                  -------------

     6.02  Executive  shall be  entitled  to eight paid  holidays  per year,  as
follows: New Year's Day, Memorial Day, July 4th, Labor Day, Thanksgiving Day and
the day after Thanksgiving, Christmas Day, and one floating day.

                       Use of Company-Supplied Automobile
                       ----------------------------------

     6.03  (a)  During  the term of  employment  hereunder,  Executive  shall be
entitled  to the full use of an  automobile  of  Company's  choice at  Company's
expense.

          (b) The  Company  also  agrees to pay all  operating  expenses  of any
     nature  whatsoever  with regard to the  aforementioned  automobile,  and to
     procure and maintain in force an automobile  liability  insurance policy on
     the automobile,  with coverage  including  Executive,  for bodily injury or
     death, and for property damage. . Group Medical Insurance

     6.04 The Company agrees to include Executive and his spouse under Company's
group medical insurance coverage at Company's cost.

                          ARTICLE 7. BUSINESS EXPENSES
                          ----------------------------

     7.01 (a) Company shall  promptly  reimburse  Executive  for all  reasonable
business  expenses  incurred by Executive in promoting  the business of Company,
including expenditures for entertainment, gifts, and travel.

          (b) Each expenditure  shall be reimbursable  only if it is of a nature
     qualifying  it as a proper  deduction  on the federal and state  income tax
     return of Company.

          (c) Each such  expenditure  shall be  reimbursable  only if  Executive
     furnishes  to  Company  adequate  records  and other  documentary  evidence
     required  by  federal  and state  statutes  and  regulations  issued by the
     appropriate  taxing  authorities for the substantiation of that expenditure
     as an income tax deduction.

                      ARTICLE 8. TERMINATION OF EMPLOYMENT
                      ------------------------------------

                              Termination for Cause
                              ---------------------

     8.01  (a)  Company  reserves  the  right to  terminate  this  Agreement  if
Executive:  (1) Wilfully breaches or habitually  neglects the duties which he is
required to perform under the terms of this  Agreement;  or, (2) Commits acts of
dishonesty,  fraud,  misrepresentation,  or other acts of moral  turpitude  that
would prevent the effective performance of his duties.

                                  Page 8 of 12
<PAGE>

          (b) Company  may,  at its option,  terminate  this  Agreement  for the
     reasons  stated in this section by giving  written notice of termination to
     Executive  without  prejudice to any other  remedy to which  Company may be
     entitled either at law, in equity, or under this Agreement.

          (c) Termination under this section shall be considered "for cause" for
     the purposes of this Agreement.

                         Termination Upon Stated Events
                         ------------------------------

     8.02  (a)  This  Agreement  shall  be  terminated  upon  the  death  of the
Executive.

          (b) Company  reserves the right to terminate  this  Agreement not less
     than  sixty  (60) days  after  Executive  suffers  any  physical  or mental
     disability  that would  prevent the  performance  of his duties  under this
     Agreement.  Such a  termination  shall be  effected by giving ten (10) days
     written notice of termination to Executive.

          (c)  Termination  under this section shall not be considered  "without
     cause" for the purposes of this Agreement.

                            Termination Without Cause
                            -------------------------

     8.03 (a) Company reserves the right to terminate this Agreement immediately
upon the occurrence of  circumstances  which make it impossible or impracticable
for the business of Company to be continued.

          (b) Executive  renders services which are  unsatisfactory  to Company,
     and Company shall be the sole judge as to whether the services of Executive
     are satisfactory.

          (d) Termination under this section shall not be considered "for cause"
     but shall be considered "without cause" for the purposes of this Agreement.

                  Severance Pay Upon Termination Without Cause
                  --------------------------------------------

     8.04 (a) In the event  Executive is terminated by the Company without cause
during the first three (3) years of  employment  under this  Agreement,  Company
shall pay  Executive  severance  pay equal to three  (3)  months of  Executive's
monthly base salary in effect at the time of termination.

                                  Page 9 of 12
<PAGE>

          (b) In the event  Executive is terminated by the Company without cause
     after the first three (3) years of employment under this Agreement, Company
     shall pay Executive  severance  pay equal to six (6) months of  Executive's
     monthly base salary in effect at the time of termination.

              Effect of Merger, Transfer of Assets, or Dissolution
              ----------------------------------------------------

     8.05 (a) This Agreement shall be terminated by any voluntary or involuntary
dissolution of Company  resulting from either a merger or consolidation in which
Company is not the consolidated or surviving corporation,  or a transfer of all,
or substantially all, of the assets of Company.

          (b) Termination under this section shall not be considered "for cause"
     but shall be considered "without cause" for the purposes of this Agreement.

                            Termination by Executive
                            ------------------------

     8.06 Executive may terminate his obligations under this Agreement by giving
Company at least sixty (60) days prior written notice.

                             Effect on Compensation
                             ----------------------

     8.07 In the event this  Agreement is terminated  prior to the completion of
the term of  employment  specified  herein,  Executive  shall be entitled to the
compensation  earned by and  vested in him prior to the date of  termination  as
provided for in this  Agreement,  computed pro rata up to, and  including,  that
date.  Executive shall be entitled to no further  compensation as of the date of
termination.

                          ARTICLE 9. GENERAL PROVISIONS
                          -----------------------------

     9.01 Any  notices  to be given by  either  party to the  other  shall be in
writing  and  may  be  transmitted  either  by  personal  delivery  or by  mail,
registered or certified,  postage prepaid with return receipt requested.  Mailed
notices  shall be  addressed  to the parties at the  addresses  appearing in the
introductory paragraph of this Agreement, but each party may change that address
by written notice in accordance with this section.  Notices delivered personally
shall be deemed  communicated as of the date of actual  receipt,  mailed notices
shall be deemed communicated as of five (5) days after the date of mailing.

                            Attorneys' Fees and Costs
                            -------------------------

     9.02 If this  Agreement  gives rise to a lawsuit or other legal  proceeding
between any of the parties  hereto,  the  prevailing  party shall be entitled to
recover  court costs,  necessary  disbursements  (including  experts'  fees) and
actual  attorneys'  fees,  in  addition  to any other  relief  such party may be
entitled.  This  provision  shall  be  construed  as  applicable  to the  entire
contract.

                                 Page 10 of 12
<PAGE>

                                Entire Agreement
                                ----------------

     9.03 This Agreement supersedes any and all other agreements, either oral or
in writing,  between  the  parties  hereto  with  respect to the  employment  of
Executive by Company,  and contains all of the covenants and agreements  between
the parties with respect to that employment in any manner whatsoever. Each party
to this Agreement acknowledges that no representations,  inducements,  promises,
or  agreements,  orally or  otherwise,  have been made by any  party,  or anyone
acting on behalf of any party,  which are not embodied herein, and that no other
agreement,  statement, or promise not contained in this Agreement shall be valid
or binding.

                                  Modifications
                                  -------------

     9.04 Any  modification of this Agreement will be effective only if it is in
writing signed by the party to be charged.

                                Effect of Waiver
                                ----------------

     9.05 The failure of either party to insist on strict compliance with any of
the terms,  covenants,  or conditions of this Agreement by the other party shall
not be deemed a waiver  of that  term,  covenant,  or  condition,  nor shall any
waiver  or  relinquishment  of any  right  or  power at any one time or times be
deemed a waiver or  relinquishment  of that  right or power for all or any other
times.

                               Partial Invalidity
                               ------------------

     9.06 If any  provision  in this  Agreement  is held by a court of competent
jurisdiction to be invalid,  void, or  unenforceable,  the remaining  provisions
shall nevertheless  continue in full force without being impaired or invalidated
in any way.

                      Law Governing Agreement/Jurisdiction
                      ------------------------------------

     9.07 This Agreement  shall be governed by and construed in accordance  with
the laws of the State of California. Jurisdiction and venue for any suit arising
out of this Agreement  shall lie  exclusively in a competent court in the County
of San Diego, State of California.

                             Sums Due When Deceased
                             ----------------------

     9.08  If  Executive  dies  prior  to  the  expiration  of the  term  of his
employment, any sums that may be due him from Company under this Agreement as of
the date of death shall be paid to Executive's executors, administrators, heirs,
personal representatives, successors, and assigns.

                                  Page 11 of 12

<PAGE>

                             Execution by Facsimile
                             ----------------------

     9.09 This  Agreement  may be executed by the  parties  and  transmitted  by
facsimile.  A facsimile signature of a party shall be binding as an original. If
a  party  sends a copy  of the  Agreement  or part  thereof  with  that  party's
signature by  facsimile,  that party shall  promptly  send the original by first
class mail.

                            COMPANY
                            -------

                            ZiaSun Technologies, Inc.

                            /S/ D. Scott Elder
                            ----------------------------
                            By: D. Scott Elder
                            Its: Chairman of the Board

                            EXECUTIVE
                            ---------

                            /S/ Allen D. Hardman
                            ------------------------------
                            Allen D. Hardman

                                  Page 12 of 12

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