Exhibit 10.29**PROMISSORY NOTE****US$1,000,000** Date: November 19th, 2007     **WHEREAS**, **Robert Zummo***,*(the “**Lender**”) has previously guaranteed certain loan (the “**Loan**”)granted to **Valentec Systems Inc.**, a Delaware corporation (the “**Borrower**”) by Bank One (the “**Bank**”).     **WHEREAS**, such guarantee, in the amount of One Million United States Dollars (US$1,000,000) wasrealized by the bank and fully paid by the Lender.     **NOW THEREFORE**, in consideration thereof, the Borrower hereby provides the Lender with thisNote.     For value received, Borrower hereby promises to pay to the Lender, the principal sum of OneMillion United States Dollars (US$1,000,000) (the “**Principal Amount**”), together with interestthereon from the date of this Note on the unpaid principal balance (the “**Interest**” and togetherwith the Principal Amount, the “**Loan Amount**”). Interest shall accrue at the higher of (i) a rate ofLIBOR plus two percent (2%) per annum, compounded annually on the basis of a 365-day year and theactual days elapsed from the date of this Note until paid as set forth below, or (ii) the interestrate charged by the Bank in connection with the Loan. The terms and conditions of this note shallbe as follows:1. **Repayment Schedule**. The Loan Amount shall be due and payable on or before October 31,2007 (the “**Maturity Date**”). 2. **Repayment Terms**. Payments of Principal Amount and/or Interest hereunder (asapplicable) shall be made in lawful money of the United States of America by cheque or by wiretransfer of immediately available funds to the account of the Lender as designated by suchLender in writing prior to the date upon which such payment is due, against surrender of thisoriginal Note by a Lender, marked as “satisfied and fully paid”. In addition, the Borrowershall pay all expenses incurred by the holder of this note in connection with the payment ofthe Loan Amount. 3. **Prepayment**. Notwithstanding the payments pursuant to Section 2, the Company at itsoption shall have the right to prepay, with three (3) business days advance written notice,a portion or all outstanding Principal Amount. The prepayment price shall be equal to theamount of Principal Amount prepaid, plus accrued interest. 4. **Assignment and Transfer**. The terms and conditions of this Note shall inure to thebenefit of and be binding upon the respective successors and assigns of the parties. ThisNote may be transferred only upon surrender of the original Note for registration of transfer,duly endorsed, or accompanied by a duly executed written instrument of transfer in formsatisfactory to the Company. Thereupon, a new note for the same Principal Amount and Interestwill be issued to, and registered in the name of, the transferee. Interest and PrincipalAmount are payable only to the registered holder of this Note. 5. **Governing Law and Jurisdiction**. This Note shall be governed by and construed inaccordance with the laws of the State of Delaware. Any dispute arising under or in relation tothis Note shall be exclusively resolved by the competent courts of New York, New York, andeach of the parties hereby irrevocably submits to the jurisdiction of such jurisdiction. TheBorrower hereby agrees, subject only to any limitation imposed by applicable law, to pay allexpenses, including reasonable attorneys’ fees and legal expenses, incurred by the holder ofthis note in endeavoring to collect any amounts payable hereunder which are not paid when duewhether by declaration or otherwise. AS A MATERIAL INDUCEMENT FOR THE LENDER TO LOAN TO THECOMPANY THE MONIES HEREUNDER, THE COMPANY HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANYLEGAL PROCEEDING RELATED IN ANY WAY TO THIS AGREEMENT AND/OR ANY AND ALL OF THE OTHERDOCUMENTS ASSOCIATED WITH THIS TRANSACTION. 6. **Default**. Notwithstanding the above, any Principal Amount and Interest outstandingwill immediately become due and payable upon the occurrence of any of the following:
 

 
*Valentec — Promissory Note* a. The Borrower’s failures to pay any Principal Amount or Interest when due provided,however, that such failure remained uncured within fifteen (15) days from the due date;  b. The Borrower breaches any material covenant or material term of this Note, and suchbreach is not cured within fifteen (15) business days after notice of breach has beenreceived by the Borrower;  c. Any person or entity files an application for, or an order is given by a competentauthority with respect to, the liquidation, administration, winding up, entry intoreceivership, scheme of arrangement, re-organisation, dissolution or any other insolvencyproceedings of the Borrower, and such application is not withdrawn or set aside withinsixty (60) days (the Borrower, as the case may be, shall notify Lender within two (2)business days of any such application); or  d. The levy of an attachment or the institution of execution proceedings against thewhole or a substantial part of Borrower’s assets, where such attachment or executionproceeding is not discharged within sixty (60) days (the Borrower, as the case may be,shall notify Lender within two (2) business days of any such proceedings).7. **Miscellaneous**. a. This Note may be executed in any number of counterparts, each of which shall bedeemed an original but all of which together shall constitute one and the sameinstrument. Signature by facsimile shall be deemed an original signature.  b. All notices or other communications hereunder shall be in writing and shall begiven in person, by registered mail (registered air mail if mailed internationally), byan overnight courier service which obtains a receipt to evidence delivery, or byfacsimile transmission (provided that electronic confirmation of receipt is provided) tothe following addresses:           If to Company: Valentec Systems, Inc.             2618 York Avenue             Minden, LA 71055             Attention: Robert Zummo             Telephone: (318) 382-4574             Facsimile: (318) 382-4583           If to the Lender: Name: Robert Zummo             Address: _____________________________             Attention: _____________________________             Telephone: _____________________________             Facsimile: _____________________________     All notices and other communications (a) delivered in person or by courier service shallbe deemed given as of the day of delivery, (b) transmitted by facsimile shall be deemedgiven twenty-four (24) hours following transmission with confirmed answer back, and (c)all notices and other communications sent by registered mail shall be deemed given five(5) days after posting.  c. The parties hereby expressly waive presentment, demand for payment, dishonor,notice of dishonor, protest, notice of protest, and any other formality.  d. Each of the Lender and the Borrower will execute all documents and take such otheractions as the other party may reasonably request in order to consummate thetransactions provided for herein and to accomplish the purposes of this Note.Issuer: **VALENTEC SYSTEMS INC.**
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*Valentec — Promissory Note*By: ________________________________Name: ______________________________Title: _____________________________
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