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Exhibit 4.4
  
  Employment with Metal Storm Limited (Metal Storm)
 Metal Storm
 annexed  attached
 
 Terry ODwyer  Chairman




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Terms and conditions of employment
 1. Commencement
  2. Position
  3. Role
   (a)
    
    perform the duties assigned to you from time to time and comply with all lawful directions
given to you by any person authorised by the Metal Storm Board;(b)
    
    perform your duties in a proper and efficient manner to the best of your knowledge and
ability;(c)
    
    use your best endeavours to promote and enhance the interests, profitability, growth and
reputation of Metal Storm and the Metal Storm Group companies;(d)
    
    act in the best interests of Metal Storm and not intentionally do anything which is or may be
harmful to Metal Storm or any Metal Storm Group company;(e)
    
    not act, or be seen to be acting, in conflict with the best interests of Metal Storm or any
Metal Storm Group company, and if such conflict appears possible or arises, you must notify
your manager at the earliest opportunity; and(f)
    
    promptly report to the Metal Storm Board all information and explanations as may be required
in connection with matters relating to your employment or the business of Metal Storm or any
Metal Storm Group company.
  clause 3.1
 Metal Storm Group Corporations Act 2001
    4. Location




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5. Working hours
  6. Travel
  7. Other employment
 
 8. Metal Storm Group policies and procedures
  9. Performance appraisal
   10. Remuneration
  clause 10.4 TR
  (a)
    
    salary;(b)
    
    income tax;(c)
    
    superannuation contributions;(d)
    
    such other non-cash benefits (including motor vehicles) as are agreed with you from time to
time; and(e)
    
    the amount of any fringe benefits tax, GST and other taxes payable by Metal Storm in
consequence of the provision of your non-cash benefits.
    Superannuation Guarantee (Charge) Act 1992




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attached
         11. Sign on payment or options to subscribe for shares
   (a)
    
    the two year period from the commencement of your employment to 18 February 2009; or(b)
    
    a shorter period that is agreed in writing between you and Metal Storm.
   (c)
    
    your employment with Metal Storm ends prior to 18 February 2009, or prior to the last day of
a shorter period agreed under clause (b)above; and/or
 (d)
    
    having regard to your performance during the relevant period, the Metal Storm Board believes,
in its absolute discretion, that only a proportionate payment is appropriate.
  Schedule 1 (Options
 12. Expenses




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13. Leave
   (a)
    
    four weeks of annual leave per annum;(b)
    
    10 days of personal/carers leave per annum (paid personal leave in addition to your accrued
entitlement may be taken with the approval of the Board);(c)
    
    parental leave; and(d)
    
    compassionate leave,
     14. Intellectual Property and Moral Rights
    Intellectual Property
   Moral Rights
   15. Confidentiality
 annexure A




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16. Termination of employment
   serious misconduct
 (a)
    
    committing any illegal or immoral acts (whether in the course of the employment or not) that
result in a criminal conviction which, in the opinion of Metal Storm, materially affects your
ability to represent Metal Storm and to perform your role as Chief Executive Officer;
 (b)
    
    being precluded by the provisions of the Corporations Act 2001(Cth) (as amended or replaced
from time to time) from taking part in the management of a corporation, or being disqualified
for any reason from holding an office of Metal Storm or of a Metal Storm Group company.
  (a)
    
    Metal Storm may terminate your employment at any time by giving you three months written
notice. Metal Storm may provide payment in lieu of all or part of this notice period.
 (b)
    
    Subject to clause 16.5and in addition to clause 16.2(a), upon termination of your employment
under this clause 16.2you will also be entitled to a severance payment equal to six months
of your TR.
      (a)
    
    the remuneration and any expenses payable to you up to and including the date of termination;
 (b)
    
    any payment in lieu of notice to which you are entitled under clause 16, calculated on the
basis of your TR;
 (c)
    
    pay in lieu of any accrued annual leave and long service leave to which you are entitled up
to and including the date of termination, calculated on the basis of your TR;(d)
    
    any bonus payment to which you are entitled as at the date of termination; and(e)
    
    any payment to which you are entitled under clause 16.2above.
  Corporations Act 2001
 Corporations Act 2001




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17. Garden leave
  (a)
    
    require you to perform only such duties as Metal Storm may determine or not to perform any
duties at all;(b)
    
    require you not to have any contact with any employees, customers or business associates of
Metal Storm or any Metal Storm Group company other than normal social contact; and/or(c)
    
    exclude you from all or any part of Metal Storms and any Metal Storm Group companys
premises,
  18. Return of property
  19. Restrictions after employment
    annexure B
   20. Miscellaneous




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(a)
    
    is severable;(b)
    
    will be ineffective and severable in that jurisdiction to the extent of the illegality,
voidness or unenforceability;(c)
    
    will not invalidate the remaining provisions of this document; and(d)
    
    will not affect the validity or enforceability of that provision in any other jurisdiction.
       /s/
TERRY  ODWYER
    
    February 23, 2007Terry
ODwyer
    
    DateI have read and accept the terms of employment set out above./s/ DR.  LEE  FINNIEAR
    
    February 23, 2007Dr Lee John Finniear
    
    Date




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Schedule 1  Option terms
  1
    
    Each Option entitles the holder to subscribe for one fully paid ordinary share in the Company
upon exercise of the Option and payment of the exercise price.2
    
    Each Option may be exercised during the Exercise Period at an exercise price of A$0.185.3
    
    The Exercise Period means, in relation to:
 (i)
    
    500,000 Options (Tranche 1), the period commencing on 18 August 2007 and
ending at 5pm (Brisbane time) on the date which is five (5) years after the date of
allotment; and(ii)
    
    500,000 Options (Tranche 2), the period commencing on 18 February 2008
and ending at 5pm (Brisbane time) on the date which is five (5) years after the date
of allotment.
 4
    
    An Option will be exercisable by giving notice of exercise to the Company, and paying the
exercise price for the Option. Options may only be exercised in multiples of 1,000, except
when the quantity exercised represents the total holding. Shares will be issued within 14
days of receipt of valid notice and payment of the exercise price.
 5
    
    The Options will not confer an entitlement to receive dividends declared and paid by the
Company, nor an entitlement to vote at general meetings of the Company.
 6
    
    Each share issued on the exercise of an Option will rank equally with the issued shares.
 7
    
    An Option holder cannot participate in new issues of securities by the Company without
exercising the Options.
   10
    
    The Company will apply for quotation by ASX of the shares issued upon exercise of Options
within the time period required by the Listing Rules. Unless the Board decides otherwise (in
its absolute discretion), the Option holder must not sell, or offer for sale, the shares
issued upon exercise of the Options within 12 months after the issue of those shares.
 11
    
    Options within a tranche will lapse immediately upon the occurrence of any of the following
events:
 (i)
    
    the Options are not exercised during the Exercise Period for that tranche;
and
 (ii)
    
    prior to the commencement of the Exercise Period for that tranche, the
Option holder ceases to be employed as Chief Executive Officer of the Company,
except to the extent that the Companys board determines that some or all of the
Options will not lapse; or
 (iii)
    
    not more than one month prior to the commencement of the Exercise Period
for that tranche, the Companys board notifies the Option holder in writing that it
has determined, in its absolute discretion, that his performance as
Chief Executive Officer of the Company has not been satisfactory, except to the
extent that the notice specifies that some or all of the Options will not
lapse.




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12
    
    In the event of a reorganisation of the capital of the Company, the rights of the Option
holder will be changed to the extent necessary to comply with the Listing Rules applying to a
reorganisation of capital at the time of the reorganisation.
 13
    
    If the capital of the Company is reconstructed, the number of Options and/or the exercise
price of the Options will be correspondingly reconstructed in a manner which will not result
in any additional benefits being conferred on Option holders which are not conferred on
shareholders.14
    
    A certificate will not be issued for the Options.




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Annexure A
 Confidentiality Deed
 1.
    
    DefinitionsIn this Confidentiality Deed:Metal Stormmeans Metal Storm Limited ABN 99 064 270 006.Metal Storm Group companymeans a body corporate that is related to Metal Storm within the
meaning of the Corporations Act 2001(Cth).Confidential Informationmeans any information, however communicated or recorded, relating
to Metal Storms business or the business of a Metal Storm Group company to which I gain
access, whether before, during or after my employment with Metal Storm, and includes but is
not limited to:
 (a)
    
    any trade secret or other commercially sensitive or confidential information
of or possessed by Metal Storm and the Metal Storm Group companies;(b)
    
    any techniques, methods, computer software, materials, documents or manuals
of Metal Storm and the Metal Storm Group companies used in their businesses;(c)
    
    technical information or research concerning products developed or used by
Metal Storm and the Metal Storm Group companies and their customers or suppliers;(d)
    
    inventions, improvements or products discovered or developed by any employee,
officer or consultant of Metal Storm and the Metal Storm Group companies;(e)
    
    any information relating to the business affairs, accounts, market research,
marketing plans, sales plans, customer lists, prospects, management or finances of
Metal Storm and the Metal Storm Group companies;(f)
    
    the identity of Metal Storms and the Metal Storm Group companies customers,
suppliers, consultants, distributors, agents, contractors and employees and the
arrangements between Metal Storm and its customers, suppliers, consultants,
distributors, agents, contractors and employees and between the Metal Storm Group
companies and their customers, suppliers, consultants, distributors, agents,
contractors and employees; and(g)
    
    my terms and conditions of employment with Metal Storm.
 2.
    
    Non-disclosure of Confidential InformationI undertake to keep confidential all Confidential Information and not to disclose any
Confidential Information to any person, except:
 (a)
    
    as required by law;(b)
    
    with the prior written consent of the Metal Storm Board;(c)
    
    to Metal Storms or a Metal Storm Group Companys employees, officers, agents
and advisers in the proper performance of my responsibilities and duties in employment
with Metal Storm; and(d)
    
    in respect of my terms and conditions of employment with Metal Storm, in
confidence to my legal and financial advisers.
 3.
    
    Confidential Information in the public domainIf the Confidential Information is lawfully within the public domain, then to the extent that
the Confidential Information is public, my obligations under clause 2 will cease.




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4.
    
    Use of Confidential InformationI will not use any Confidential Information for the benefit of any person except Metal Storm
or a Metal Storm Group company.
 5.
    
    Security of Confidential InformationI will maintain proper and secure custody of all Confidential Information and use my best
endeavours to prevent the use or disclosure of any Confidential Information by or to third parties.
 6.
    
    UncertaintyIf I am uncertain as to whether certain information is Confidential Information, I will treat
that information as Confidential Information unless I am advised in writing bythe Metal Storm Board
to the contrary.
 7.
    
    Return or destruction of Confidential InformationI will:
 (a)
    
    upon termination of my employment with Metal Storm, or at any time at the
request of Metal Storm, immediately deliver to Metal Storm all documents or other
things in my possession, custody or control on which any Confidential Information is
stored or recorded, whether in writing or in electronic or other form; or(b)
    
    if requested by Metal Storm, instead of delivering the Confidential Information to Metal
Storm, destroy the Confidential Information (in the case of data stored electronically or in other
form, by erasing it from the media on which it is stored such that it cannot be recovered or in any
way reconstructed or reconstituted) and certify in writing to Metal Storm that the Confidential
Information, including all copies, has been destroyed.
 8.
    
    Continuing obligationsI agree that my obligations under this Confidentiality Deed will survive the termination of my
employment and will be enforceable at any time at law or in equity and will continue to the benefit
of and be enforceable by Metal Storm.




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EXECUTED as a deed.
 Signed
sealed and delivered
by Lee John Finniear in the presence of:
    
    )
)
)WitnessName of Witness (print)Executedby Metal Storm Limited ABN 99
064 270 006
    
    )
)
)Company Secretary/Director
    
    
    
    DirectorName of Company Secretary/Director (print)
    
    
    
    Name of Director (print)




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Annexure B
 Restraint Deed
 1.
    
    Definitions
  Metal Storm
 Confidential Information
 Metal Storm Group company Corporations Act 2001
 Prohibited Business
 Relevant Period
 2.
    
    RestraintSave that nothing in this Restraint Deed restricts me from holding (either directly or
indirectly) in aggregate not more than 5% of the issued ordinary shares in the capital of
any body corporate listed on a recognised stock exchange and 10% of the shares in a
privately-held body corporate, I will not, without the prior written consent of Metal Storm:
 (a)
    
    on my own account or for or on behalf of any person or entity:
 (i)
    
    participate in, promote, carry on, assist or otherwise be
directly or indirectly concerned with or involved in, financially or
otherwise (whether as a member, shareholder, unit-holder, director,
consultant, advisor, contractor, principal, agent, manager, employee,
beneficiary, partner, associate, trustee, financier or in any other
capacity), any Prohibited Business;(ii)
    
    solicit or endeavour to solicit or approach any director,
officer, senior employee, contractor or agent of Metal Storm or a Metal Storm
Group company known personally to me or who is likely to be in possession of
any trade secret or Confidential Information of Metal Storm or a Metal Storm
Group company, with the purpose of enticing that person away from Metal Storm
or the Metal Storm Group company and procuring the employment or engagement
of that person by any Prohibited Business;(iii)
    
    solicit, canvass, approach or accept any approach from any
person or entity who was during the Relevant Period a customer, supplier,
distributor or licensee of or to Metal Storm or a Metal Storm Group company,
with a view to establishing a relationship with or obtaining the custom of
that person or entity with a Prohibited Business; or(iv)
    
    interfere or seek to interfere, directly or indirectly,
with the relationship between Metal Storm or a Metal Storm Group company and
its customers, suppliers, distributors, licensees, officers, employees,
contractors or agents in the conduct of its business;
 (b)
    
    at any time after termination of my employment with Metal Storm for a
period of six months.(c)
    
    anywhere within:
 (i)
    
    Australia and Washington DC; or(ii)
    
    Australia; or




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(iii)
    
    Queensland; or(iv)
    
    Brisbane.
 3.
    
    Construction of restraint clauseClause 2 must be construed and have effect as if it were the number of separate sub-clauses
which results from combining the commencement of clause 2 with each sub-clause of clause
2(a) and combining each combination with clause 2(b) and combining each combination with
each sub-clause of clause 2(c), each resulting sub-clause being severable from each other
resulting sub-clause.If any of the resulting sub-clauses are invalid or unenforceable for any reason, that
invalidity or unenforceability will not prejudice or in any way affect the validity or
enforceability of any other resulting sub-clause.
 4.
    
    AcknowledgmentsI acknowledge that:
 (a)
    
    the prohibitions and restrictions contained in this Restraint Deed are
reasonable having regard to the interests of Metal Storm and the Metal Storm Group
companies and the nature of my duties with Metal Storm; and(b)
    
    if I breach my obligations under this Restraint Deed then, in addition and
without prejudice to any other remedy which Metal Storm may have, Metal Storm is
entitled to seek and obtain interlocutory and permanent injunctive relief in any court
of competent jurisdiction.
 EXECUTED as a deed.
 Signed sealed and delivered
by Lee John Finniear in the presence of:
    
    )
)
)WitnessName of Witness (print)Executedby Metal Storm Limited ABN 99
064 270 006
    
    )
)
)Company Secretary/Director
    
    
    
    DirectorName of Company Secretary/Director (print)
    
    
    
    Name of Director (print)