Document:

EX-4.7

Exhibit 4.7

Terms and conditions of employment

1 Commencement

Your employment under the terms and conditions set out in this document commenced on 8th
September 2008.

2 Position

Your position is Chief Engineer & Development Manager of Metal Storm Limited (Metal Storm). You
will report to the Chief Executive Officer (CEO).

3 Role

3.1 General duties

You must:

	(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 CEO;
	 
	(b)	 	perform your duties in a proper, professional 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
the CEO at the earliest opportunity; and
	 
	(f)	 	promptly report to the CEO 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.

3.2 Specific duties

Without limiting clause 3.1, Metal Storm may issue you with a duty statement or revised duty
statement from time to time, in agreement with you.

In your role for Metal Storm, you may be required to undertake duties relating to the business of
any company in the Metal Storm group of companies (Metal Storm Group). The Metal Storm Group
comprises all companies related to Metal Storm within the meaning of the Corporations Act 2001
(Cth) (as amended or replaced from time to time).

During the term of your employment you are required to maintain the status of Chartered
Professional Engineer with a professional institution deemed appropriate for your role by the Metal
Storm CEO. You are also required to acquire and maintain a Queensland Firearms Licence for the
term of your employment.

3.3 Corporate offices

You agree upon request by Metal Storm to accept appointment to any office or offices of Metal Storm
or any Metal Storm Group company without additional compensation or reward. Upon request by Metal
Storm, and unless otherwise agreed upon termination of your employment, you must resign from any
such office or offices. During your employment, resignation from an office or offices at the
request of Metal Storm will not result in termination of your employment.

page 1

 

If you are requested to accept an appointment to any office or offices of Metal Storm or any Metal
Storm Group company, Metal Storm will provide you with a Deed of Indemnity and Access, and will
maintain Directors and Officers Liability insurance for your protection.

4 Location

You will be based in Brisbane, Australia.

If it appears that any relocation will be required, Metal Storm will discuss and agree this with
you before making a final decision on the relocation.

5 Working hours

You will work during Metal Storm’s normal business hours and such other hours as are necessary for
you to perform your duties in a satisfactory manner. Your remuneration includes compensation for
work outside normal hours and you will not be entitled to any additional remuneration or other
benefit for work outside these hours.

6 Travel

You may be required to travel within and outside Australia on Metal Storm Group business. You will
not be entitled to any additional remuneration for such travel. However, your reasonable travel
expenses for approved travel will be paid for by Metal Storm including airfares, accommodation and
meals.

7 Other employment

You must not during your employment by Metal Storm, without the prior written consent of the CEO
(which consent will not unreasonably be withheld), be engaged or interested in any other public or
private work or duties, either directly or indirectly, in any capacity (including as principal,
agent, partner, employee, shareholder, unit-holder, joint venturer, director, trustee, beneficiary,
manager, consultant or advisor) with the exception of voluntary activities for a charitable
organisation or project.

This does not preclude you from holding (directly or indirectly) in aggregate not more than 5% of
the shares in any body corporate listed on a recognised stock exchange, and in aggregate not more
than 10% of the shares in any privately-held body corporate.

8 Metal Storm Group policies and procedures

You must treat Metal Storm’s policies and procedures as directions from Metal Storm. Subject to
the terms of this document you must comply with these policies and procedures, but they do not form
part of this document. Metal Storm may vary any policy or procedure from time to time.

9 Performance appraisal

Your performance will be reviewed by the CEO on an annual basis and at such other times as may be
determined by Metal Storm.

Your annual appraisal will be conducted having regard to any applicable performance criteria and
performance targets.

page 2

 

10 Remuneration

10.1 Base remuneration

You will receive a base remuneration package of $150,000 gross per annum or such amount as may be
determined from time to time upon review under clause 10.4 below (BR).

Your BR includes:

	(a)	 	salary;
	 
	(b)	 	income tax;
	 
	(c)	 	such other non-cash benefits (including motor vehicles) as are agreed with you from time to
time; and
	 
	(d)	 	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.

10.2 Salary

Your salary will be paid fortnightly by electronic deposit to your nominated bank account.

10.3 Superannuation

In addition to your BR, Metal Storm will make superannuation contributions at such rate as may be
agreed from time to time, but in any event at a rate not less than the minimum rate required to
avoid any charge under the Superannuation Guarantee (Charge) Act 1992 (Cth). The Metal Storm
superannuation contribution rate agreed as at 16th December 2008 is 9% of your BR.

10.4 BR Review

Your BR will be reviewed each year on such basis as the CEO in his absolute discretion may
determine having regard to your performance (with reference to your annual performance appraisal)
and the circumstances of the Metal Storm Group. There is no presumption that your BR will be
increased upon review. The first review will occur after 31st December 2008.

10.5 Legislation, industrial awards and agreements

Your BR is inclusive of all remuneration to which you are entitled under any applicable
legislation, or industrial award or agreement.

11 Expenses

11.1 Business expenses

Metal Storm will reimburse to you reasonable expenses incurred by you, with the consent of the CEO,
in the performance of your duties including business calls from your home telephone. You will be
provided with a mobile telephone to use for business purposes.

page 3

 

12 Leave

12.1 Annual leave, personal/carer’s leave, parental leave and compassionate leave

You are entitled to:

	(a)	 	four weeks of annual leave per annum;
	 
	(b)	 	8 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 CEO);
	 
	(c)	 	parental leave; and
	 
	(d)	 	compassionate leave,

subject to and in accordance with law.

Annual leave will be taken at a time approved in advance by the CEO having regard to operational
requirements. Metal Storm may direct you to take excessive accrued annual leave as permitted by
law.

12.2 Long service leave

You will be entitled to long service leave subject to and in accordance with the applicable
legislation in the State of your domicile. Metal Storm may direct you to take accrued long service
leave as permitted by law.

13 Intellectual Property and Moral Rights

13.1 Intellectual Property

Metal Storm will own and be exclusively entitled to the benefit of the Intellectual Property in all
material developed, produced or created by you during the period of your employment by Metal Storm
which relates in any way to the business of Metal Storm or a Metal Storm Group company.

You will promptly take any reasonable action necessary to transfer to Metal Storm your interests in
any such Intellectual Property.

Intellectual Property includes inventions and improvements, patents, trade marks, copyright and
designs whether registered or unregistered, circuit layout rights and know-how and any other form
of intellectual property.

13.2 Moral Rights

You irrevocably consent to Metal Storm taking any action in relation to any Intellectual Property
developed, produced or created by you in the course of your employment even where such conduct
would, but for this clause, infringe any moral rights which you may have in relation to such
Intellectual Property.

Moral Rights means a right of attribution of authorship, a right not to have authorship falsely
attributed and a right of integrity of authorship.

13.3 Enduring obligations

Your obligations in respect of Intellectual Property and Moral Rights survive termination of your
employment.

14 Confidentiality

You will understand that the Metal Storm Group is concerned to protect its sensitive and
confidential information and its reputation. To ensure protection of these interests, you are
required to execute the Confidentiality Deed at annexure A to this document.

page 4

 

15 Termination of employment

15.1 Summary termination

Metal Storm may at any time immediately terminate your employment by giving written notice to you
if you commit any act of serious misconduct.

For the purposes of this clause, serious misconduct includes but is not limited to:

	(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 Engineer & Development
Manager;
	 
	(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.

15.2 Termination on notice by Metal Storm

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.

15.3 Termination by you

You may terminate your employment at any time by giving three months written notice to Metal Storm.

After receiving notice of termination from you, Metal Storm may elect to make the termination take
effect immediately or part way through the notice period, in which case you will be entitled to
payment calculated on your BR in respect of the period after the date of termination to the end of
the notice period.

15.4 Payment of accrued entitlements upon termination

On termination of your employment, you will be entitled to receive the following payments and
benefits and will not be entitled to any other termination payment or benefit (whether under a
Metal Storm Group policy or practice or otherwise):

	(a)	 	the remuneration and any expenses payable to you up to and including the date of termination;
	 
	(b)	 	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 BR; and
	 
	(c)	 	any superannuation contribution to which you are entitled as at the date of termination.

15.5 Set-off

Metal Storm may deduct from any payment due to you (including but not limited to any termination
payment) any money advanced to you or owing by you to Metal Storm or any Metal Storm Group company.

15.6 Disciplinary and grievance procedures

In view of the seniority of your position, Metal Storm is not required to follow any performance
review, disciplinary, warning or grievance procedures before terminating your employment.

16 Garden leave

During part or all of any period of notice of termination given by you or by Metal Storm and any
reasonable period during which Metal Storm is investigating any disciplinary issue involving you,
Metal Storm may, at its sole discretion:

	(a)	 	require you to perform only such duties as Metal Storm may determine or not to perform any
duties at all;

page 5

 

	(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,

provided that your remuneration is not withheld or reduced as a result of your complying with such
directions.

17 Return of property

Upon termination of your employment for any reason, or at any time at the request of Metal Storm,
you must immediately return to Metal Storm any Metal Storm property or the property of any Metal
Storm Group company in your possession or control. In the case of documents, computer records and
other information and computer software, you must not retain any copies or parts of them.

18 Restrictions after employment

18.1 No representation

You must not at any time after termination of your employment, represent to any person that you are
still in any way connected with or involved in the business of Metal Storm or any Metal Storm Group
company.

18.2 Restraint deed

The Metal Storm Group is concerned to protect its valuable commercial information and trade
contacts. To ensure protection of these interests you are required to execute the Restraint Deed
at annexure B to this document.

18.3 Warranty

You warrant that in performing your duties under this document, you will not be in breach of any
obligation to a third party, including any restrictive covenant or confidentiality obligation.

19 Miscellaneous

19.1 Governing law

This document is governed by and is to be construed in accordance with the laws in force in
Queensland.

The parties irrevocably and unconditionally submit to the non-exclusive jurisdiction of the courts
of Queensland and any courts which have jurisdiction to hear appeals from any of those courts.

19.2 No waiver

No failure to exercise or any delay in exercising any right, power or remedy under this document
will operate as a waiver. Nor will any single or partial exercise of any right, power or remedy
preclude any other or further exercise of that or any other right, power or remedy.

19.3 Severance

Any provision of this document which is or becomes illegal, void or unenforceable in any
jurisdiction:

	(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.

page 6

 

19.4 Variation and entire agreement

The terms and conditions set out in this document may only be varied, replaced or terminated by
agreement in writing signed by yourself and an authorised representative of Metal Storm.

These terms and conditions will continue to govern your employment with Metal Storm despite any
changes from time to time to your position, duties and responsibilities, remuneration, working
hours or employment location, unless otherwise agreed in writing.

The terms and conditions set out in this document embody the entire understanding of the parties in
relation to your employment by Metal Storm. All previous negotiations, representations or
agreements are superseded by this document.

19.5 Independent advice

You acknowledge that you have had the opportunity to obtain independent legal advice in relation to
the terms of this document including the Confidentiality and Restraint Deed in the annexures to
this document.

	 	 	 	 	 
	 
	/s/ LEE FINNIEAR

	 	16/12/2008
	 	 
	 

	 	 	 	 
	Lee Finniear

	 	Date	 	 

I have read and accept the terms of employment set out above.

	 	 	 	 	 
	 
	/s/ DAVID PASHEN

	 	16/12/2008
	 	 
	 

	 	 	 	 
	David Pashen

	 	Date	 	 

page 7Exhibit 10.17

Exhibit 10.17

[Federal Express Corporation letterhead]

May 29, 2009

VIA EMAIL (richard.r.ochs@boeing.com)

The Boeing Company

P.O. Box 3707

Seattle, Washington 98124-2207

U.S.A.

	 	 	 
	Attention:

	 	Richard R. Ochs, Regional Director 

Aircraft Contracts, Boeing Commercial Airplane
	 
	 	 
	Re:

	 	Purchase Agreement No. 3157 between The Boeing Company and Federal Express
Corporation Relating to Boeing Model 777-FREIGHTER Aircraft, dated November 7, 2006
(together with the ancillary documents thereto, the “Purchase Agreement”)

Dear Mr. Ochs:

Thank you for your letter dated May 19, 2009, to Mr. Kevin Burkhart of Federal
Express Corporation, identified as Letter 6-1162-RRO-1100.

In connection therewith, we are pleased to inform you that Federal Express
Corporation agrees to the return of the Aircraft identified in your letter dated December
30, 2008, to Mr. Phil Blum of Federal Express Corporation, identified as Letter
6-1162-RRO-1069, as having a revised scheduled delivery month of [ * ] (the “Subject
Aircraft”) to its previously scheduled delivery month of [ * ].

Please do not hesitate to contact me should you have any questions.

	 	 	 	 	 
	 	Very truly yours,

FEDERAL EXPRESS CORPORATION

 	 
	 	/s/ PHILLIP C. BLUM
 	 
	 	Phillip C. Blum 	 
	 	Vice President 	 

	 	 	 
	*	 	Blank spaces contained confidential information which has been filed separately with the
Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of
1934, as amended.

 

 

 

The Boeing Company

P.O. Box 3707

Seattle, WA 98124-2207

May 19, 2009

6-1162-RRO-1100

Federal Express Corporation

2955 Republican Drive

Memphis, TN 38118

	 	 	 
	Attention:

	 	Mr. Kevin Burkhart 

Managing Director — Aircraft Acquisitions & Sales
	 
	 	 
	Subject:

	 	Aircraft with Delivery Month of [ * ] (MSN 37728)
	 
	 	 
	Reference:

	 	A)   Letter 6-1162-RRO-1069 dated December 30, 2008, to Mr. Phil
Blum of Federal Express Corporation (Customer) relating to
Notice of Excusable Delay for certain Boeing Model
777-FREIGHTER Aircraft

	 
	 	 
	 

	 	B)    Purchase Agreement 3157 (Purchase Agreement), dated November 7,
2006, between The Boeing Company (Boeing) and Federal Express Corporation
(Customer) relating to Model 777-FREIGHTER Aircraft (the Aircraft)

Dear Mr. Burkhart:

Per reference A letter, Boeing advised Customer of a “Notice of Excusable Delay”, for the subject
Aircraft and that the revised delivery month for the subject Aircraft will be [ * ]. Boeing is now
in a position to return the subject Aircraft to its original delivery month of [ * ]. Boeing feels
[ * ].

However, Boeing also understands [ * ]. Thus, in consideration of the strong business relationship
between Boeing and FedEx, Boeing agrees that [ * ].

Boeing needs [ * ]. For this reason, Boeing respectfully requests that [ * ].

If you have any questions, please contact me at your earliest convenience.

Sincerely,

/s/ Richard R. Ochs

THE BOEING COMPANY

Richard R. Ochs

Regional Director

Aircraft Contracts

Boeing Commercial Airplane

	 	 	 
	*	 	Blank spaces contained confidential information which has been filed separately with the
Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of
1934, as amended.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}]]