Document:

STOCK OPTION AGREEMENT

      AGREEMENT, made as of December 1, 1999, by and between GLOBAL
TELECOMMUNICATION SOLUTIONS, INC., a Delaware corporation (the "Company"), and
LEE R. MONTELLARO, (the "Employee").

      WHEREAS, on December 1, 1999 (the "Grant Date"), the Board of Directors
authorized the grant to the Employee of an option (the "Option") to purchase an
aggregate of 200,000 shares of the authorized but unissued common stock of the
Company, $.01 par value ("Common Stock"), conditioned upon the Employee's
acceptance thereof upon the terms and conditions set forth in this Agreement;
and

      WHEREAS, the Employee desires to acquire the Option on the terms and
conditions set forth in this Agreement;

      IT IS AGREED:

            1. Grant of Stock Option. The Company hereby grants to the Employee
the right and option ("Option") to purchase all or any part of an aggregate of
200,000 shares of Common Stock ("Option Shares") on the terms and conditions set
forth herein. The Option represented hereby is a non-qualified stock option not
intended to qualify under any section of the Internal Revenue Code of 1986, as
amended, and is not granted under any plan, including the Company's 1994
Performance Equity Plan ("Plan"). Certain terms used herein, however, are
defined under the Plan.

            2. Exercise Price. The exercise price ("Exercise Price") of the
Option shall be $0.25 per share, subject to adjustment as hereinafter provided.

            3. Exercisability. If the Company has not filed, or been forced to
file, for protection under the United States Bankruptcy Code as of April 1,
2000, this Option shall become exercisable, subject to the terms and conditions
of this Agreement, on April 3, 2000, and shall remain exercisable until November
30, 2004, except as otherwise set forth in this Agreement (the "Exercise
Period").

            4. Effect of Termination of Employment.

                  4.1 Termination Due to Death. If Employee's employment by the
Company terminates by reason of death prior to the commencement of the Exercise
Period, the Option shall expire on the date of such death. If Employee's
employment by the Company terminates by reason of death during the Exercise
Period, the Option shall remain exercisable and may thereafter be exercised by
the legal representative of the estate or by the legatee of the
<PAGE>

Employee under the will of the Employee, for a period of one year from the date
of such death or until the expiration of the Exercise Period, whichever period
is shorter.

                  4.2 Termination Due to Disability. If Employee's employment by
the Company terminates by reason of Disability (as such term is defined under
the Plan) prior to the commencement of the Exercise Period, the Option shall
expire on the date of such termination. If Employee's employment by the Company
terminates by reason of Disability during the Exercise Period, the Option shall
remain exercisable and may thereafter be exercised by the Employee for a period
of one year from the date of such termination or until the expiration of the
Exercise Period, whichever period is shorter.

                  4.3 Termination by the Company Without Cause and/or Due to
Retirement. If Employee's employment is terminated by the Company without cause
or due to Normal Retirement (as such term is defined under the Plan) prior to
the commencement of the Exercise Period, and, at the time of such termination,
the Company has not filed, or been forced to file, for protection under the
United States Bankruptcy Code, then the Option shall not expire and may
thereafter be exercised by the Employee during the Exercise Period. If
Employee's employment is terminated by the Company without cause or due to
Normal Retirement during the Exercise Period, then the Option shall not expire
and may thereafter be exercised by the Employee until the expiration of the
Exercise Period.

                  4.4 Other Termination.

                        (a) If Employee's employment is terminated for any
reason other than (i) death, (ii) Disability, (iii) Normal Retirement, or (iv)
without cause by the Company, the Option shall expire on the date of termination
of employment.

                        (b) The Board of Directors, in the event the Employee's
employment is terminated for cause, may require the Employee to return to the
Company the economic benefit of any Option Shares purchased hereunder by the
Employee within the six month period prior to the date of termination. In such
event, the Employee hereby agrees to remit to the Company, in cash, an amount
equal to the difference between the Fair Market Value (as such term is defined
under the Plan) of the Option Shares on the date of termination (or the sales
price of such Shares if the Option Shares were sold during such six month
period) and the Exercise Price of such Shares.

            5. Withholding Tax. Not later than the date as of which an amount
first must be included in the gross income of the Employee for Federal income
tax purposes with respect to the Option, the Employee shall pay to the Company,
or make arrangements satisfactory to the Committee regarding the payment of, any
Federal, state and local taxes of any kind required by law to be withheld or
paid with respect to such amount ("Withholding Tax"). The obligations of the
Company under the Plan and pursuant to this Agreement shall be conditioned upon
such payment

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<PAGE>

or arrangements with the Company and the Company shall, to the extent permitted
by law, have the right to deduct any Withholding Taxes from any payment of any
kind otherwise due to the Employee from the Company.

            6. Adjustments. In the event of any change in the number of
outstanding shares of Common Stock of the Company occurring as the result of a
stock split, reverse stock split or stock dividend on the Common Stock, after
the Grant Date, the Company shall proportionately adjust the number of Option
Shares and the Exercise Price of the Option. Any right to acquire a fractional
Option Share resulting from adjustments will be rounded to the nearest whole
Option Share. If the Company shall be the surviving corporation in any merger,
combination or consolidation, this Option shall pertain and apply to the Option
Shares to which the Employee is entitled hereunder, without adjustment. In the
event of a change in the par value of the shares of Common Stock which are
subject to this Option, this Option will be deemed to pertain to the shares
resulting from any such change. To the extent that the foregoing adjustments
relate to Common Stock, the adjustments will be made by the Board of Directors
whose determination will be final, binding and conclusive.

            7. Method of Exercise.

                  7.1 Notice to the Company. The Option may be exercised in
whole or in part by written notice in the form attached hereto as Exhibit A
directed to the Company at its principal place of business accompanied by full
payment as hereinafter provided of the exercise price for the number of Option
Shares specified in the notice and of the Withholding Taxes, if any.

                  7.2 Delivery of Option Shares. The Company shall deliver a
certificate for the Option Shares to the Employee as soon as practicable after
payment therefor.

                  7.3 Payment of Purchase Price.

                        7.3.1 Cash Payment. The Employee shall make cash
payments by wire transfer, certified or bank check or personal check, in each
case payable to the order of the Company; the Company shall not be required to
deliver certificates for Option Shares until the Company has confirmed the
receipt of good and available funds in payment of the purchase price thereof.

                        7.3.2 Stock Payment. The Board of Directors, in its sole
discretion, may allow Employee to use Common Stock of the Company owned by him
to make any required payments by delivery of stock certificates in negotiable
form which are effective to transfer good and valid title thereto to the
Company, free of any liens or encumbrances. Shares of Common Stock used for this
purpose shall be valued at the Fair Market Value. Notwithstanding the foregoing,
the Company shall have the right to reject payment in the form of Common Stock
if in the opinion of counsel for the Company, (i) it could result in an event of
"recapture" under Section 16(b) of the

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<PAGE>

Securities Exchange Act of 1934; (ii) such shares of Common Stock may not be
sold or transferred to the Company, or (iii) such transfer could create legal
difficulties for the Company.

            8. Nonassignability. The Option shall not be assignable or
transferable, except by will or by the laws of descent and distribution in the
event of the death of the Employee. No transfer of the Option by the Employee by
will or by the laws of descent and distribution shall be effective to bind the
Company unless the Company shall have been furnished with written notice thereof
and a copy of the will and/or such other evidence as the Company may deem
necessary to establish the validity of the transfer and the acceptance by the
transferee or transferees of the terms and conditions of the Option.

            9. Accelerated Vesting and Exercisability. If (i) any person or
entity other than the Company and/or any officer, director or principal
stockholder (i.e., a holder [beneficially or of record) of more than ten percent
of the Company's voting stock) of the Company acquires securities of the Company
(in one or more transactions) having 25% or more of the total voting power of
all the Company's securities then outstanding and (ii) the Board of Directors of
the Company does not authorize or otherwise approve such acquisition, then the
vesting periods of the Option shall be accelerated and the Option shall
immediately and entirely vest. In such event, Employee shall have the immediate
right to purchase all the Option Shares, subject to the provisions of this
Agreement.

            10. Company Representations. The Company hereby represents and
warrants to the Employee that:

                        (i) the Company, by appropriate and all required action,
      is duly authorized to enter into this Agreement and consummate all of the
      transactions contemplated hereunder, and

                        (ii) the Option Shares, when issued and delivered by the
      Company to the Employee in accordance with the terms and conditions
      hereof, will be duly and validly issued and filly paid and non-assessable.

            11. Employee Representations. The Employee hereby represents and
warrants to the Company that:

                        (i) he is acquiring the Option and shall acquire the
      Option Shares for his own account and not with a view towards the
      distribution thereof;

                        (ii) he has received a copy of all reports and documents
      required to be filed by the Company with the Securities and Exchange
      Commission pursuant to the Securities Exchange Act of 1934, as amended,
      within the last 24 months and all reports issued by the Company to its
      stockholders;

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<PAGE>

                        (iii) he understands that he must bear the economic risk
      of the investment in the Option Shares, which cannot be sold by him unless
      they are registered under the Securities Act of 1933 (the "1933 Act") or
      an exemption therefrom is available thereunder and that the Company is
      under no obligation to register the Option Shares for sale under the 1933
      Act;

                        (iv) in his position with the Company, he has had both
      the opportunity to ask questions and receive answers from the officers and
      directors of the Company and all persons acting on its behalf concerning
      the terms and conditions of the offer made hereunder and to obtain any
      additional information to the extent the Company possesses or may possess
      such information or can acquire it without unreasonable effort or expense
      necessary to verify the accuracy of the information obtained pursuant to
      clause (ii) above;

                        (v) he is aware that the Company shall place stop
      transfer orders with its transfer agent against the transfer of the Option
      Shares in the absence of registration under the 1933 Act or an exemption
      therefrom as provided herein; and

                        (vi) if, at the time of issuance of the Option Shares,
      the issuance of such shares have not been registered under the 1933 Act,
      the certificates evidencing the Option Shares shall bear the following
      legend:

                  "The shares represented by this certificate have been acquired
                  for investment and have not been registered under the
                  Securities Act of 1933. The shares may not be sold or
                  transferred in the absence of such registration or an
                  exemption therefrom under said Act."

            12. Restriction on Transfer of Option Shares.

                  12.1 Anything in this Agreement to the contrary
notwithstanding, Employee hereby agrees that he shall not sell, transfer by any
means or otherwise dispose of the Option Shares acquired by him without
registration under the 1933 Act, or in the event that they are not so
registered, unless (i) an exemption from the 1933 Act registration requirements
is available thereunder, and (ii) the Employee has furnished the Company with
notice of such proposed transfer and the Company's legal counsel, in its
reasonable opinion, shall deem such proposed transfer to be so exempt.

                  12.2 Anything in this Agreement to the contrary
notwithstanding, Employee hereby agrees that he shall not sell, transfer by any
means or otherwise dispose of the Option Shares acquired by him (i) prior

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<PAGE>

to six months after the Grant Date and (ii) except in accordance with Company's
policy, if any, regarding the sale and disposition of securities owned by
employees and/or directors of the Company.

            13. Miscellaneous.

                  13.1 Notices. All notices, requests, deliveries, payments,
demands and other communications which are required or permitted to be given
under this Agreement shall be in writing and shall be either delivered
personally, transmitted by electronic means or sent by a nationally recognized
next-day courier to the parties at their respective addresses set forth herein,
or to such other address as either shall have specified by notice in writing to
the other. Notice shall be deemed duly given hereunder when delivered or
transmitted as provided herein.

                  13.2 Employee and Stockholder Rights. The Employee shall not
have any of the rights of a stockholder with respect to the Option Shares until
such shares have been issued after the due exercise of the Option. Nothing
contained in this Agreement shall be deemed to confer upon Employee any right to
continued employment with the Company or any subsidiary thereof, nor shall it
interfere in any way with the right of the Company to terminate Employee in
accordance with the provisions regarding such termination set forth in
Employee's written employment agreement with the Company, or if there exists no
such agreement, to terminate Employee at will.

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

                  13.4 Entire Agreement. This Agreement constitutes the entire
agreement between the parties with respect to the subject matter hereof. This
Agreement may not be amended except by writing executed by the Employee and the
Company.

                  13.5 Binding Effect; Successors. This Agreement shall inure to
the benefit of and be binding upon the parties hereto and, to the extent not
prohibited herein, their respective heirs, successors, assigns and
representatives. Nothing in this Agreement, expressed or implied, is intended to
confer on any person other than the parties hereto and as provided above, their
respective heirs, successors, assigns and representatives any rights, remedies,
obligations or liabilities.

                  13.6 Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New Jersey (without regard
to choice of law provisions).

                  13.7 Headings. The headings contained herein are for the sole
purpose of convenience of reference, and shall not in any way limit or affect
the meaning or interpretation of any of the terms or provisions of this
Agreement.

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<PAGE>

      IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of
the day and year first above:

GLOBAL TELECOMMUNICATION                 Address: 10 Stow Road, Suite 200
SOLUTIONS, INC.                                   Marlton, New Jersey 08053

By: /s/ [Illegible]
   -------------------------------

EMPLOYEE:                                Address: 60 Ticonderoga Boulevard
                                                  Freehold, New Jersey 07728

/s/ Lee R. Montellaro
----------------------------------
LEE R. MONTELLARO

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<PAGE>

                                                                       EXHIBIT A

                      FORM OF NOTICE OF EXERCISE OF OPTION

____________________________
         DATE

GLOBAL TELECOMMUNICATION
 SOLUTIONS, INC.
10 Stow Road, Suite 200
Marlton, New Jersey 08053
Attention: Stock Option Committee of the Board of Directors

                  Re: Purchase of Option Shares

Gentlemen:

      In accordance with my Stock Option Agreement dated as of December 1, 1999
with Global Telecommunication Solutions, Inc. (the "Company"), I hereby
irrevocably elect to exercise the right to purchase ________ shares of the
Company's common stock, par value $.01 per share ("Common Stock").

      As payment for my shares, enclosed is (check and complete applicable
box[es]):

      |_|   a [personal check] [certified check] [bank check] payable to the
            order of "Global Telecommunication Solutions, Inc." in the sum of
            $___________;

      |_|   confirmation of wire transfer in the amount of $__________; and/or

      |_|   with the consent of the Company, a certificate for ___________
            shares of the Company's Common Stock, free and clear of any
            encumbrances, duly endorsed, having a Fair Market Value (as such
            term is defined in the 1994 Performance Equity Plan) of
            $______________.

      I hereby represent and warrant to, and agree with, the Company that:

            (i) I have acquired the Option and shall acquire the Option Shares
      for my own account, for investment, and not with a view towards the
      distribution thereof;

            (ii) I have received a copy of all reports and documents required to
      be filed by the Company with the Commission pursuant to the Exchange Act
      within the last 24 months and all reports issued by the Company to its
      stockholders;

            (iii) I understand that I must bear the economic risk of the
      investment in the Option Shares, which cannot be sold by me unless they
      are registered under the Securities Act of 1933 (the "1933 Act") or an
      exemption therefrom is available thereunder and that the Company is under
      no obligation to register the Option Shares for sale under the 1933 Act;

            (iv) I agree that I will not sell, transfer by any means or
      otherwise dispose of the Option Shares acquired by me hereby except in
      accordance with Company's policy, if any, regarding the sale and
      disposition of securities owned by employees and/or directors of the
      Company;
<PAGE>

            (v) in my position with the Company, I have had both the opportunity
      to ask questions and receive answers from the officers and directors of
      the Company and all persons acting on its behalf concerning the terms and
      conditions of the offer made hereunder and to obtain any additional
      information to the extent the Company possesses or may possess such
      information or can acquire it without unreasonable effort or expense
      necessary to verify the accuracy of the information obtained pursuant to
      (ii) above;

            (vi) I am aware that the Company shall place stop transfer orders
      with its transfer agent against the transfer of the Option Shares in the
      absence of registration under the 1933 Act or an exemption therefrom as
      provided herein; and

            (vii) if, at the time of issuance of the Option Shares, the issuance
      of such shares have not been registered under the 1933 Act, the
      certificates evidencing the Option Shares shall bear the following legend:

                  "The shares represented by this certificate have been acquired
                  for investment and have not been registered under the
                  Securities Act of 1933. The shares may not be sold or
                  transferred in the absence of such registration or an
                  exemption therefrom under said Act."

      Kindly forward to me my certificate at your earliest convenience.

Very truly yours,

________________________________             __________________________________
(Signature)                                  (Address)

________________________________             __________________________________
(Print Name)

                                             __________________________________
                                             (Social Security Number)AGREEMENT REGARDING THE
                           ASSIGNMENT OF CONTRACTS,
                       CURE AMOUNTS AND RELATED MATTERS

            AGREEMENT, dated as of February __, 2000 (this "Cure and Assignment
Agreement"), is entered into by and among GLOBAL LINK TELECOM CORPORATION, a
Delaware Corporation ("Global Link"), GTS HOLDING CORP., INC., a Delaware
corporation, TELTIME, INC., a Delaware corporation, NETWORK SERVICES SYSTEM,
INC., a Delaware corporation, NETWORK SERVICES SYSTEM, L.P., a Delaware limited
partnership, GTS MARKETING, INC., a Delaware corporation, GLOBAL
TELECOMMUNICATION SOLUTIONS, L.P., a Delaware limited partnership, NETWORKS
AROUND THE WORLD, INC., a New Jersey corporation ("NAWI"), and CENTERPIECE
COMMUNICATIONS, INC., a New Jersey corporation (each a "Debtor" and collectively
the "Debtors"), GLOBAL TELECOMMUNICATION SOLUTIONS, INC. ("GTS Inc."), RANDOLPH
CHERKAS, an individual ("Cherkas"), and GARY LIGUORI, an individual ("Liguori").

            WHEREAS, the Debtors are debtors and debtors-in-possession in joint
proceedings under Chapter 11 of the Bankruptcy Code before the United States
Bankruptcy Court for the District of Delaware, consolidated for administrative
purposes under Case No. 99-3923 (MFW);

            WHEREAS, the Debtors have determined that it is in the best
interests of the Debtors' estates to sell the Debtors' prepaid phonecard
business and the assets related thereto (the "Business") and the Debtors have
been negotiating with various parties for the sale of the Business;

            WHEREAS, the Debtors wish to sell the Business to JD Services, Inc.
("Purchaser") and are negotiating an agreement with Purchaser for the purchase
and sale of the Business, including the assignment and assumption of certain
contracts, which agreement is subject to (i) "higher and better offers" received
at an auction, and (ii) Bankruptcy Court approval;

<PAGE>

            WHEREAS Purchaser requires, as a condition of closing on the
purchase and sale of the Business, that the Non-compete (as hereinafter defined)
be assigned to Purchaser;

            WHEREAS, Cherkas was a director of the Debtors, was an officer and
director of the Debtors' parent company, GTS Inc., and Cherkas and Liguori are
employees of the Debtor GTS L.P.;

            WHEREAS, Cherkas and Liguori have entered into various agreements
with GTS Inc. or NAWI, including the following:

      A.    Merger and Reorganization Agreement, dated as of January 31, 1998,
            among Global Telecommunication Solutions, Inc., Networks Acquisition
            Corp., Networks Around the World, Inc., Randolph Cherkas and Gary
            Liguori (the "Merger Agreement");

      B.    Non-Negotiable Promissory Note, dated January 31, 1998, in the
            amount of $900,000 payable to Randolph Cherkas, executed by Global
            Telecommunication Solutions, Inc. (the "Cherkas Note");

      C.    Non-Negotiable Promissory Note, dated January 31, 1998, in the
            amount of $100,000 payable to Gary Liguori, executed by Global
            Telecommunication Solutions, Inc. (the "Liguori Note");

      D.    Earn Out Agreement, dated as of January 31, 1998 among Global
            Telecommunication Solutions, Inc. and Randolph Cherkas (the "Earn-
            out Agreement");

      E.    Employment Agreement, dated January 31, 1998, between Global
            Telecommunication Solutions, Inc. and Randolph Cherkas (the "Cherkas
            Employment Agreement");

      F.    Employment Agreement, dated January 31, 1998, between Global
            Telecommunication Solutions, Inc. and Gary Liguori (the "Liguori
            Employment Agreement"); and

      G.    Security Agreement, dated January 31, 1998, between Networks Around
            the World, Inc. as Debtor and Randolph Cherkas and Gary Liguori as
            the Secured Parties (the "Security Agreement").

                                       2

<PAGE>

The Merger Agreement, Cherkas Note, Liguori Note, Earn-out Agreement, Cherkas
Employment Agreement, and the Liguori Employment Agreement may be referred to
herein as the "Required Contracts".

            WHEREAS, the Merger Agreement at (pounds)6.2 contains a provision by
which Cherkas and Liguori have agreed not to compete with the business of GTS
Inc. And affiliates, including the Debtors (the "Non-compete");

            WHEREAS the Non-compete provides that if there is a material breach
in payment under the Cherkas Note, Liguori Note, Earn-out Agreement, Cherkas
Employment Agreement, or the Liguori Employment Agreement, then Cherkas'
and Liguori's obligation under the Non-compete shall cease.

            WHEREAS, GTS Inc. is an obligor under the Cherkas Note, Liguori
Note, Earn-out Agreement, Cherkas Employment Agreement and the Liguori
Employment Agreement, and the obligations under the Cherkas Note, Liguori Note,
and the Earn-out Agreement have been assigned to and assumed by Global Link,
without releasing GTS Inc. from its obligations to Cherkas and Liguori
thereunder;

            WHEREAS, in order to transfer the Non-compete to Purchaser (which is
a condition to Purchaser closing on the purchase and sale of the Business) it
will be necessary for Global Link, NAWI, the Debtors and GTS, Inc. to cure
defaults under the contracts so that the contracts may be assigned to Purchaser;

            WHEREAS, Cherkas claims that he is owed $900,000 plus approximately
$90,000 in interest by Global Link and GTS Inc. under the Cherkas Note.

                                      3

<PAGE>

            WHEREAS, the Debtors and GTS Inc. believe that there are certain
offsets to the obligations to make payment to Cherkas under the Cherkas Note,
including (I) an offset in the amount of approximately $375,000 based upon an
agreement with Cherkas to allow an offset for a loss sustained by the Debtors
due to the failure of a carrier, Access Telecom, Inc., to provide service to the
Debtors (the "Access Offset"); and (ii) an agreement by Cherkas to convert the
remaining debt under the note to equity in GTS Inc. at the rate of $.80/share
(the "Conversion Offset"). Thus, the Debtors and GTS Inc. believe that the
Access Offset and the Conversion Offset completely offset all amounts due under
the Cherkas Note, and therefore, the Debtors and GTS Inc. believe their
liability to Cherkas under the Cherkas Note can be completely satisfied by the
application of the Access Offset and delivery of the stock under the Conversion
Offset.

            WHEREAS, Liguori claims that he is owed $100,000 plus approximately
$10,000 in interest by Global Link and GTS Inc. under the Liguori Note.

            WHEREAS, Cherkas alleges that he is owed $876,157.00 by Global Link
and GTS Inc. under the Earn-out Agreement for sales during the periods ending
July 31, 1999, that such amount was payable on October 31, 1999 and now is past
due and accruing interest. Cherkas also alleges that for sales for the period
from August 1, 1999 through January 31, 2000, he will be entitled to an
additional payment, in the estimated amount of approximately $322,000, payable
on April 30, 2000.

            WHEREAS, the Debtors and GTS Inc. believe that there are certain
offsets or defenses to the obligations to make certain payments to Cherkas under
the Earn-out

                                      4

<PAGE>

Agreement, including that no payment is or will become due for the period from
August 1, 1999 through January 31, 2000.

            WHEREAS, Cherkas claims that he is entitled to approximately $64,167
for unpaid salary under his Employment Agreement and Liguori claims that he is
entitled to approximately $9,000 for unpaid second quarter bonuses and $6,000
for unpaid fourth quarter bonuses under his Employment Agreement.

            WHEREAS, Cherkas also alleges that he is entitled to interest,
attorneys' fees and costs relating to his claims under the Earn-out Agreement.

            WHEREAS, Cherkas and Liguori are not aware of any other claims which
they may have against GTS Inc. or the Debtors other than the claims set forth
herein.

            WHEREAS, the Debtors, GTS Inc., Cherkas and Liguori wish to avoid
litigation over the issues set forth herein, acknowledge that this agreement was
negotiated in good faith with all parties having the advice of counsel, and the
parties believe that the agreements contained herein are in the best interest of
the Debtors' estates and all parties hereto;

            NOW THEREFORE, IT IS HEREBY AGREED, by and between the Debtors, GTS
Inc., Cherkas and Liguori that:

            1. The Debtors and GTS Inc. shall be entitled to reduce the Cherkas
Note to zero, based upon the Access Offset and the Conversion Offset, and shall
no longer have any liability under the Cherkas Note, upon compliance with
paragraph 4 of this Cure and Assignment Agreement.

                                      5

<PAGE>

            2. Three weeks after the Closing of a sale to Purchaser, the Debtors
shall pay to Liguori $110,000 for unpaid obligations under the Liguori Note. At
the Closing of a sale to Purchaser, GTS Inc. shall deliver to Liguori 50,000
shares of GTS common stock subject to trading restrictions and exemptions under
applicable securities laws ("Rule 144 Stock").

            3. On the date that the true-up referred to in Section 1.7 of the
Asset Purchase Agreement is finalized, to cure all defaults under the Earn-out
Agreement and to compensate Cherkas for any damages he may have suffered,
Cherkas shall be entitled to receive from the Debtors an amount, up to an
additional $1,198,157, equal to: (a) directly from Purchaser, all of the
proceeds resulting from the true-up from Purchaser with the Debtors up to
$500,000; and (b) 70% of the amount of the Debtors' available cash remaining
after deducting amounts for unpaid administrative expenses accrued and
reasonably expected to be incurred through the effective date of a confirmed
plan. In addition to the amount set forth in subparagraph 3(b) hereof, Cherkas
shall be entitled to an administrative priority claim, subordinate to all other
administrative priority claims, for 70% of the amount of the Debtors' available
cash remaining after payment of all other allowed administrative priority
claims, payable on the effective date of a plan.

            4. Within two business days of executing this Agreement, GTS Inc.
shall deliver to Cherkas 769,750 shares of GTS Rule 144 common stock in
consideration of Cherkas' conversion of a portion of the Cherkas Note in
accordance with the Conversion

                                      6

<PAGE>

Offset. Failure to deliver such stock as provided in this paragraph shall be a
material breach of the Required Contracts.

            5. At the Closing of a sale to Purchaser, GTS, Inc. shall: (a) pay
$30,000 to Cherkas; and (b) assign (or cause to be assigned) to Cherkas GTS,
Inc.'s interest in the trademarks/tradenames "Networks Around the World, Inc."
and "Centerpiece Communications, Inc." to compensate Cherkas for interest and
other costs incurred in accordance with the provisions of the Earn-out
Agreement. At the Closing the Debtors shall assign to Cherkas the Debtors'
interests in the trademarks/tradenames Networks Around the World, Inc." and
"Centerpiece Communications, Inc." Failure to make such payments and deliver
such assignments as provided in this paragraph shall be a material breach of the
Required Contracts.

            6. At the Closing of a sale to Purchaser, GTS, Inc. shall pay to
Cherkas $64,167 for unpaid obligations under the Cherkas Employment Agreement.
Failure to make such payment as provided in this paragraph shall be a material
breach of the Required Contracts.

            7. At the Closing of a sale to Purchaser, GTS Inc. shall pay to
Liguori $15,000 for unpaid obligations under the Liguori Employment Agreement.
Failure to make such payment as provided in this paragraph shall be a material
breach of the Required Contracts.

            8. At the Closing of a sale to Purchaser, the Debtors will assign to
the Purchaser their rights and interests in all of the Required Contracts,
including, but not

                                      7

<PAGE>

limited to, the Merger Agreement, the Cherkas and Liguori Notes and the Earn-out
Agreement.

            9. At the Closing of a sale to Purchaser, GTS Inc. will assign to
the Purchaser its rights, if any, under all of the Required Contracts,
including, but not limited to, the Merger Agreement, the Cherkas Note, the
Liguori Note, the Earn-out Agreement and the Cherkas and Liguori Employment
Agreements.

            10. Cherkas and Liguori each acknowledge that compliance with
paragraphs 2, 3, 4, 5, 6 and 7 of this Agreement:

            a.    cures all of the Debtors' defaults under the Required
                  Contracts, as required by 365(b)(1)(A) of the Bankruptcy Code;

            b.    compensates each of them for any actual pecuniary loss
                  resulting from any of the Debtors' defaults under the Required
                  Contracts, as required by (pound)365(b)(1)(B) of the
                  Bankruptcy Code;

            c.    provides each of them with adequate assurance of future
                  performance of the obligations under the Required Contracts,
                  as required by (pound)365(b)(1)(C) of the Bankruptcy Code.

            11. Upon full compliance with paragraphs 2, 3, 4, 5, 6 and 7 of this
Cure and Assignment Agreement by the Debtors, GTS Inc., to the extent that any
default remains uncured, any damages have not been paid or assurance of future
performance has not been

                                      8

<PAGE>

given, Cherkas and Liguori each waive any rights they may have against the
Debtors and the Purchaser with respect thereto.

            12. Cherkas and Liguori consent to the assignment of the Required
Contracts at the Closing of a sale to Purchaser, subject to and conditioned upon
performance of the terms and conditions set forth in paragraphs 2, 3, 4, 5, 6
and 7 of this Cure and Assignment Agreement.

            13. If requested, Cherkas and Liguori will, upon receipt of the
common stock and amounts due under paragraphs 2, 3, 4, 5, 6 and 7 hereof and
receipt of the assumption agreement under paragraph 14 hereof, provide to
Purchaser a writing, in a form reasonably acceptable to Purchaser:

            a.    consenting to the assignment to and assumption by the
                  Purchaser of the Required Contracts;

            b.    acknowledging that the Required Contracts remain in full force
                  and effect and agreeing to be bound by the provisions of the
                  Required Contracts, including but not limited to the
                  Restrictive Covenant contained in (pound)6.2 of the Merger
                  Agreement;

            c.    acknowledging that all defaults of the Debtors existing as of
                  Closing under the Required Contracts have been cured or waived
                  by each Cherkas and Liguori, except as set forth in paragraph
                  16 hereof;

                                      9

<PAGE>

            d.    acknowledging that they each have been compensated for damages
                  suffered as a result of any breach by the Debtors of the
                  Required Contracts existing as of Closing or have waived any
                  such right, except as set forth in paragraph 16 hereof;

            e.    acknowledging that they each have been provided with adequate
                  assurance of future performance under the Required Contracts
                  or have waived any such right;

            f.    acknowledging and agreeing that the Required Contracts are
                  modified, and that in consideration of the payments received
                  and to be received, Cherkas and Liguori waive any rights
                  against the Debtors they may have under the Required
                  Contracts, except for the right to receive the following,
                  which obligations are being assumed by the Purchaser:

                  (1)   The obligations to pay salary and bonuses and to provide
                        benefits to Cherkas under the Cherkas Employment
                        Agreement; and

                  (2)   The obligations to pay salary and bonuses and to provide
                        benefits to Liguori under the Liguori Employment
                        Agreement.

            14. At the Closing of a sale to Purchaser the Debtors' will attempt
to obtain from Purchaser a writing in a form reasonably acceptable to Cherkas
and Liguori

                                      10

<PAGE>

acknowledging and agreeing that Purchaser has assumed liability to
Cherkas and Liguori for the obligations set forth in paragraph 13(f) hereof.

            15. At the Closing of a sale to Purchaser, the Debtors (but not GTS,
Inc.) on one side and Cherkas and Liguori on the other shall exchange mutual
releases substantially in the form set forth below:

            Cherkas and Liguori, on one side, and the Debtors on the other, for
good and valuable consideration, the receipt and sufficiency whereof is hereby
acknowledged, release and discharge each other and each others' heirs,
executors, administrators, successors and assigns from all actions, causes of
action, suits, debts, 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, which against each other and
each others successors and assigns they ever had, now have or hereafter can,
shall or may have, for, upon or by reason of any matter, cause or thing,
including, but not limited to claims arising out of or relating to the Required
Contracts, excepting however, the obligations under this Agreement Regarding The
Assignment of Contracts, Cure Amounts and Related Matters.

            16. Conditioned and effective upon receipt of the common stock, the
amounts due under paragraphs 2, 4, 5, 6 and 7 hereof and, in addition to the
amounts under paragraphs 2, 4, 5, 6 and 7 hereof, payment within six (6) months
of the Closing Date of $700,000 of the amount referred to in paragraph 3 hereof
Cherkas and Liguori

                                      11

<PAGE>

release and discharge GTS Inc. and its parents, subsidiaries, affiliates,
officers, directors, agents, shareholders and employees from all obligations
under the Required Contracts, excepting however, the obligations under this
Agreement Regarding The Assignment of Contracts, Cure Amounts and Related
Matters.

            17. Conditioned and effective upon the deliveries required under
paragraph 13 hereof, GTS, Inc. releases and discharges Cherkas and Liguori and
their heirs, executors, administrators, successors and assigns from all actions,
causes of action, suits, debts, 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, which GTS Inc. and its
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, including, but not limited
to claims arising out of or relating to the Required Contracts, excepting
however, the obligations under this Agreement Regarding The Assignment of
Contracts, Cure Amounts and Related Matters.

            18. The parties hereto each acknowledge and agree that Purchaser is
deemed to be an intended third party beneficiary of the agreements contained
herein, but that Cherkas and Liguori do not, by signing this Agreement, consent
to assumption and assignment on these terms by any other buyer.

            19. This Cure and Assignment Agreement may not be changed orally but
may be modified by a writing signed by all the parties hereto. If such
modification is made by the parties after they shall have received Bankruptcy
Court approval of this Cure and

                                      12

<PAGE>

Assignment Agreement, any such modification shall have the same force and effect
as if it had been approved by the Bankruptcy Court.

            20. This Agreement is conditioned upon and becomes effective only
upon the closing of a sale of the Debtors' business to the Purchaser, which sale
requires the assignment of the Non-compete.

            21. Nothing in this Cure and Assignment Agreement shall be deemed a
waiver of any existing defaults under the Required Contracts, except as set
forth in paragraphs 10, 11, 13,15, 16 and 17 hereof.

            22. This Agreement is subject to Bankruptcy Court approval.

GLOBAL LINK TELECOM CORPORATION           GTS HOLDING CORP., INC.

/s/ Lee R. Montellaro                     /s/ Lee R. Montellaro
-------------------------------           -----------------------------------
By: Lee R. Montellaro                     By: Lee R. Montellaro
Title:Chief Financial Officer             Title:Chief Financial Officer

NETWORK SERVICES SYSTEM, INC.             TELTIME, INC.

/s/ Lee R. Montellaro                     /s/ Lee R. Montellaro
-------------------------------           -----------------------------------
By: Lee R. Montellaro                     By: Lee R. Montellaro
Title:Chief Financial Officer             Title:Chief Financial Officer

NETWORK SERVICES SYSTEM, L.P.             GTS MARKETING, INC.

/s/ Lee R. Montellaro                     /s/ Lee R. Montellaro
-------------------------------           -----------------------------------
By: Lee R. Montellaro                     By: Lee R. Montellaro
Title:Chief Financial Officer             Title:Chief Financial Officer

                                       13
<PAGE>

GLOBAL TELECOMMUNICATION SOLUTIONS, L.P.

/s/ Lee R. Montellaro
-----------------------------------------
By: Lee R. Montellaro
Title:Chief Financial Officer

NETWORKS AROUND THE WORLD, INC.           CENTERPIECE COMMUNICATIONS, INC.

/s/ Lee R. Montellaro                     /s/ Lee R. Montellaro
-------------------------------           -----------------------------------
By: Lee R. Montellaro                     By: Lee R. Montellaro
Title:Chief Financial Officer             Title:Chief Financial Officer

GLOBAL TELECOMMUNICATION SOLUTIONS, INC.

/s/ Lee R. Montellaro
----------------------------------------
By: Lee R. Montellaro
Title:Chief Financial Officer

RANDOLPH CHERKAS                          GARY LIGUORI

/s/ RANDOLPH CHERKAS                      /s/ GARY LIGUORI
-------------------------------           -----------------------------------

                                      15

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