Peer-to-peer networks and grids offer promising paradigms for developing efficient distributed systems and applications. Event-based middleware is becoming a core architectural element in such systems, providing asynchronous and multipoint communication. There is a diversity of large scale network environments, and events flow from tiny sensor networks to Internet-scale peer-to-peer (P2P) systems. Event broker grids need to communicate over wired P2P networks, wireless mobile ad hoc networks and even Web Services. Thus,a good architecture of an event data model and subscription model with integrated semantics is important. In this paper, We propose an ontology-based event model for such systems and events are defined in RDF. The system includes an event correlation service for composite event detection and propagation.