EXHIBIT 10.1


                             COMPENSATION AGREEMENT

     This  Compensation  Agreement  is dated as of January 16, 2006 among Global
Realty  Development  Corp.,  a  Delaware  corporation  (the  "Company")  and MDM
Corporate Filer's Inc. ("Consultant").

     WHEREAS, the Consultant has requested the Consultant to provide the Company
with business services in connection with its business; and

     WHEREAS, the Company wishes to compensate the Consultant with shares of its
common stock for such services rendered;

     NOW THEREFORE, in consideration of the mutual covenants hereinafter stated,
it is agreed as follows:

     1. The Company will issue Twenty-Three Thousand Forty-Eight (23,048) shares
of the Company's  common stock,  $.001 par value per share,  to the  Consultant.
Subsequent  to the  filing  of a  registration  statement  on Form  S-8 with the
Securities  and Exchange  Commission  registering  such shares,  as set forth in
Section 2 below,  the  shares to be issued  shall  represent  consideration  for
services to be performed by the Consultant on behalf of the Company.

     2. The above compensation shall be registered using a Form S-8. The Company
shall file such Form S-8 with the Securities and Exchange  Commission  within 30
days of the execution of this agreement.

     IN WITNESS WHEREOF,  this  Compensation  Agreement has been executed by the
Parties as of the date first above written.

                                           GLOBAL REALTY DEVELOPMENT CORP.


                                           /s/ Robert Kohn
                                           -------------------------
                                           Robert Kohn, CEO

                                           MDM CORPORATE FILER'S INC.

                                           /s/Richard Hausig
                                           -------------------------
                                           Richard Hausig, President