Document:

Exhibit 4.1(d)

 

AGT BIOSCIENCES

 

1
July 2003

 

Professor
G.R. Collier

22
Kestrel Place

Ocean
Grove 3226 Victoria

 

Dear
Professor Collier

 

Further
to our recent discussions and review of your employment contract we are very
pleased to confirm the principal conditions of your employment as Managing
Director & Chief Executive Officer of AGT Biosciences Limited (“the
Company”) as follows.

 

1.             Organisation Relationships

 

You will report to the Chairman of the Board unless
notice is given by the Company about changed reporting relationships.

 

2.             Location

 

The present location for this position is Geelong;
Victoria.

 

3.             Commencement Date

 

The commencing date of employment, constituted by your
acceptance of this offer, is 1 July 2003.

 

4.             Term of Employment

 

Your employment shall commence on the date hereof and
shall continue for a term of 5 years subject to termination as hereinafter
provided.

 

AGT Biosciences

ABN 79 000 248 304

 

PO Box 1069, Grovedale Victoria 3216, Australia

Telephone: +613 5227 2752 Facsimile: +613 5227 1322
Email: agt@agtbiosciences.com

 

 

5.             Remuneration

 

(a) Remuneration is
expressed as Total Remuneration Package (“TRP”), and your TRP as from the date
of this letter will be at the rate of $280,000 per annum (inclusive of any
directors fees to which you may be entitled as a director of the Company and/or
any of its subsidiaries). The TRIP is in addition to your professorial salary
paid to you by Deakin University and reimbursed by the Company to Deakin
University on a quarterly basis. The TRP is to be allocated solely at your
discretion and direction or as otherwise agreed between the parties from time
to time. If you request payment of the TRP in a way which results in a fringe
benefit tax or other liability to the Company, then the amount of the tax or
liability incurred by the Company should be counted as part of the TRP.

 

(b) Salary (after tax and
authorised deductions) is paid monthly by direct deposit into an account
nominated by you at a bank or financial institution.

 

(c) It is the Company’s
current policy to review remuneration on an annual basis and your remuneration
will be reviewed in July each year.

 

(d) It is agreed that
your Salary is the basis for calculating superannuation contributions and your
entitlements upon termination of employment, including any payments due in lieu
of untaken annual leave or long service leave.

 

6.             Share Option Plan

 

You will be issued with 300,000 Options in the Company
at an exercise price of $0.30 each expiring on 31 December 2006, subject
to shareholder approval at the Company’s Annual General Meeting in 2003. The
issue of options under the Share Option Plan will be subject to review
annually.

 

7.             Incentive Plan

 

In addition to Remuneration and the Share Option Plan
set out in clauses 4 and 5 hereof, you will be eligible to participate in an
Incentive Plan. This plan provides the opportunity for you to be issued with
further Options in the Company, subject to the achievement of milestones and/or
Key Performance Indicators as defined by the Board. These milestones and/or Key
Performance Indicators will be discussed and settled with you during the
preparation of the Company’s business plans and budget for each ensuing
financial year.

 

Details of the Incentive Plan for each financial year
will be confirmed to you by separate letter annually.

 

 

8.             Superannuation

 

The Company will make contributions to an agreed
complying superannuation fund on your behalf in accordance with the provisions
of the Superannuation Guarantee (Administration) Act 1992
(Cth). Superannuation contributions are part of your TRP.

 

The Company makes no guarantee nor is it required to
assure the availability of benefits from any superannuation fund(s).

 

9.             Hours of Work

 

Hours of work are a minimum of forty (40) per week,
and may be worked at any time on any days by agreement, or in the absence of
agreement at the Company’s direction. Currently, days of work are Monday to Friday inclusive.

 

10.          Annual Leave

 

You will be entitled to four (4) weeks (20
working days) annual leave per annum, accrued and taken in accordance with the
Company’s policy. It is expected that annual leave will be taken within twelve
(12) months of it falling due at a time agreed between yourself and the
Company. There is no separate loading paid on annual leave.

 

11.          Public Holidays

 

The Company observes public holidays legislated or
proclaimed for the State of Victoria, in accordance with the Public  Holidays Act 1993 (Victoria).
You will be entitled to paid time off work on legislated or proclaimed days
that fall on your normal days of work, or substituted days by agreement.

 

12.          Long Service Leave

 

Long service leave entitlements accrue and are paid in
accordance with the provisions of the Long Service Leave Act 1992
(Victoria). The basic entitlement is thirteen (13) weeks leave after fifteen
(15) years continuous employment with the Company.

 

13.          Sick Leave

 

(a) You will be entitled
to sick leave at the rate of ten (10) days per annum, to be accrued and
taken in accordance with the Company’s policy.

 

(b) Sick leave not used
will accumulate for the term of your employment with the Company.

 

(c) No payment is made in
lieu of unused sick leave, either during your employment or on termination of
your employment with the Company.

 

 

14.          Parental Leave

 

Parental leave (maternity, paternity, adoption leave)
is unpaid leave which is granted and arranged in accordance with the provisions
of Schedule 1A of the Workplace Relations Act 1996
(Cth.) (“WR Act”). You will be entitled to parental leave in accordance with
these provisions.

 

With respect to parental leave, the WR Act provides
that to be eligible for such leave, an employee must have had at least twelve
(12) months continuous service with his or her employer immediately preceding
the date on which he or she commences leave.

 

It is acknowledged and agreed that in circumstances
where you have not had at least twelve (12) months continuous employment with
the Company immediately preceding the date on which you seek to commence
parental leave, such that you are not entitled to leave in accordance with the
provisions of the WR Act, the Company is under no obligation to grant any other
type of paid or unpaid leave to you, and your employment with the Company will
cease when you are unable to attend for work and perform the functions of your
job.

 

15.          Workers’ Compensation

 

In the event that you are injured at work, you are
covered by the provisions of the Accident Compensation Act
19$5 (Victoria), and complementary Workcover legislation.

 

16.          Performance Review

 

Your performance will be reviewed and discussed with
you at least every six (6) months, consistent with the conduct and
practice of the Company’s performance management system. This is an important
opportunity for formal two-way communication about your performance, the content
of your position and your future development. It will include setting of
objectives and/or key performance indicators and, on occasions, adjustment of
the accountabilities and responsibilities expected of this position.

 

17.          Travel and Business Related
Expenses

 

You may be required to undertake business related
travel, including interstate and overseas travel, at the Company’s expense. In
such circumstances you will receive reimbursement of business expenses
reasonably and actually incurred in accordance with the Company’s expense
reimbursement policy.

 

18.          Company Policies

 

You will be bound by the employment policies and
procedures adopted by the Company as varied from time to time, including
policies dealing with Harassment, Equal Opportunity and Anti-discrimination and
Smoking in the Workplace. You are required to be familiar with these policies
and procedures.

 

 

19.          Issues, Grievances and Disputes

 

If any issue, grievance or dispute arises, it must be
dealt with in the following manner:

 

(a) The matter must first be discussed by you
with the Chairman of the Board of Directors.

 

(b) If not settled, the
matter must then be discussed with the Chairman and two other non executive
Directors appointed by the Board for this purpose.

 

(c) If the matter is not
resolved, it may be submitted to an agreed mediator by either yourself or the
Company for the purposes of conciliation or mediation. At this stage either you
or the Company may be represented by an adviser or advocate (e.g., barrister or
solicitor).

 

(d) Until the matter is
resolved your responsibilities must be exercised at the direction of the
Company. No one shall be prejudiced as to the final settlement by the
continuance of work in accordance with this process.

 

(e) You and the Company
must cooperate to ensure that these procedures are carried out expeditiously.

 

20.          Contract of Employment

 

(a) This position is
defined as full time employment.

 

(b) The Company may
require you to undertake different work assignments or job responsibilities
during the course of your employment, either with the Company or with a
subsidiary company, an associated company, an associated business or
organisation. In such circumstances there would be no reduction in your TRIP.

 

(c) Your employment may
be terminated by either yourself or the Company by giving six (6) months
notice in writing, or by the Company without notice by paying six (6) months
TRIP in lieu of notice.

 

(d) When either you or
the Company has given notice of termination of your employment, the Company may
require you to:

 

(i)                not perform any work for it; or

 

(ii)               not attend the Company’s place(s) of business;
or

 

(iii)              perform
only those duties which the Company specifies to you.

 

(e) In addition, the
Company has the right to terminate your employment without notice for serious
misconduct or serious or persistent breach of your terms or conditions of
employment and in such case your Salary and other entitlements will be paid up
to the time of termination only.

 

 

21.          Confidentiality

 

It is a condition of your employment that you will not
disclose nor use at any time either during your employment or thereafter, any
policy, practice, procedure, customer information, supplier information, trade
secret, financial, business, confidential or other data belonging to or
concerning the business operations or affairs of or otherwise relating to the
Company or any associated companies, their clients, customers and other
business organisations acquired in the course of your employment with the
Company without first obtaining the Company’s written consent to such
disclosure, except such disclosure as may otherwise be specifically required or
permitted by the Company, required by law or unless such information has become
public knowledge through no action by yourself.

 

22.          Return of Documents and Equipment

 

Upon termination of your employment you must return to
the Company or its authorised representative all policies, procedures, plans,
statistics, documents, records, data, computer tapes or discs, papers or
equipment in your possession or control which relate in any way to the business
or affairs of the Company or any related Company, or belongs to the Company.
You are not entitled to retain any equipment or a copy of any document referred
to in this clause.

 

23.          Intellectual Property

 

If during the period of your employment, you or you
and the Company jointly, formulate, discover, develop or construct any
invention and or system associated with the Company’s business, all rights,
interest and title to such formulas, discoveries, inventions and or systems
shall vest in the Company including without limitation any rights to any
application in relation to a discovery or invention which you may file in the
Commonwealth of Australia or elsewhere for the period of two (2) years after
the termination of your employment with the Company in respect of any such
discoveries, inventions and or systems. It is further agreed that you will
promptly inform the Company, in writing, of any and all such inventions and
systems.

 

24.          Non Solicitation

 

You agree that you will not for yourself or for any
other person, for two (2) years after your employment with the Company
ends, within Australia, without the written consent of the Company, directly or
indirectly do any of the following:

 

(a) solicit, interfere
with or endeavour to entice away from the Company any person, firm or company
who was or has been, during the last two (2) years of your employment, a
client or customer of the Company (being a client or customer) to whom you
provided services while employed by the Company;

 

(b) solicit, interfere
with or endeavour to entice away from the Company any employee of the Company;

 

 

(c) provide services or
accept any request to provide services to or accept employment with a person,
firm or company who has been a client or customer of the Company during the
last two (2) years of your employment with the Company (being a client or
customer to whom you provided services while employed by the Company);

 

(d) counsel, procure or
assist any person or company to do any of the acts referred to in this clause.

 

25.          Governing Law

 

Your employment, these terms and conditions and the
determination of any disputes or claims arising in relation thereto are
governed by the laws of the State of Victoria.

 

26.          Representation

 

We trust that the terms and conditions of employment
outlined in this letter are consistent with and include all the principal
issues covered during our discussions. If you have any concerns about these
matters, please contact us prior to indicating your acceptance of this offer of
employment.

 

Please indicate your acceptance of the terms and
conditions your employment set out in this letter, by signing the duplicate
copy and returning it to us as soon as practicable.

 

	
  Yours sincerely

  	
   

  
	
   

  	
   

  
	
  /s/ J. B. L. Heading

  	
   

  
	
  J. B. L. Heading Chairman

  	
   

  
			

 

 

Acceptance

 

I confirm acceptance of the terms and conditions of my
employment set out in this letter.

 

	
  /s/ [ILLEGIBLE]

  	
   

  
	
  (signed)

  	
   

  
	
   

  	
   

  
	
  8/8/03 (date)Exhibit 4.1(e)

 

 

10 August 2004

 

Dr James Campbell

24 Cook Street

Newtown  
3220

Victoria

 

Dear James

 

Offer
of Employment

 

As discussed I would like to renew your
position of Vice President of Operations with ChemGenex Pharmaceuticals Limited
(“the Company”).

 

A Job Description which sets out the current
responsibilities of this position is attached. 
The Job Description may be revised and updated from time to time, and it
is not unusual for this to happen, for instance, in association with the
performance reviews referred to herein.

 

The principal conditions of this offer of
employment are as follows.

 

1.     Organisation
Relationships

 

You will report to the Managing
Director & Chief Executive Officer unless notice is given by the
Company about changed reporting relationships.

 

2.     Location

 

The present location for this
position is Geelong, Victoria.

 

3.     Commencement
Date & Duration

 

The commencing date of
employment, constituted by your acceptance of this offer, is 1 September 2004. 
This employment will continue until 31 August 2005 unless
terminated beforehand in accordance with clause 18 hereof.

 

4.     Remuneration

 

(a)   Remuneration is expressed as Total
Remuneration Package (“TRP”), and your commencing TRP will be at the rate of $175,000
per annum (being a base of $160,550 and 9% superannuation contribution of $14,450).

 

PO
Box 1069, Grovedale Victoria 3216, Australia  
Telephone: +61 3 5227 2752  
Facsimile: +61 3 5227 1322

Email: chemgenex@chemgenex.com   ABN 79 000 248 304

 

 

(b)   Salary (after tax and authorised
deductions) is paid monthly by direct deposit into an account nominated by you
at a bank or financial institution, provided that such institution participates
in the electronic funds transfer (EFT) system.

 

(c)   It is the Company’s current policy
to review remuneration on an annual basis and your remuneration
will be reviewed in July each year.

 

(d)   It is agreed that your Salary is
the basis for calculating superannuation contributions and your entitlements
upon termination of employment, including any payments due in lieu of untaken
annual leave or long service leave.

 

5.     Share Option
Plan

 

You will be issued with 100,000
Options, subject to shareholder approval at the Company’s Annual General
Meeting in 2004.

 

6.     Superannuation

 

The Company will make
contributions to an agreed complying superannuation fund on your behalf in accordance with the provisions of the Superannuation Guarantee (Administration) Act 1992
(Cth).  Superannuation contributions are
part of your TRP.

 

The Company makes no guarantee
nor is it required to assure the availability of benefits from any
superannuation fund(s).

 

7.     Hours of
Work

 

Hours of work are a minimum of
forty (40) per week, and may be worked at any time on any days by agreement, or
in the absence of agreement at the Company’s direction.  Currently, days of work are Monday to Friday
inclusive.

 

8.     Annual Leave

 

You will be entitled to four (4) weeks
(20 working days) annual leave per annum, accrued and taken in accordance with
the Company’s policy.  It is expected that
annual leave will be taken within twelve (12) months of it falling due at a
time agreed between yourself and the Company. 
If the Company offers, and you accept an employment renewal before the
expiry of this contract then there is a facility to carry forward up to two (2) weeks
of unused annual leave.  The maximum
balance of unused leave that may be held is six (6) weeks. It is agreed
that you will carry forward one (1) week of annual leave from your
existing contract (signed August 2003) into the new contract period. There
is no separate loading paid on annual leave.

 

9.     Public
Holidays

 

The Company observes public
holidays legislated or proclaimed for the State of Victoria, in accordance with
the Public Holidays Act 1993
(Victoria).  You will be entitled to paid
time off work on legislated or proclaimed days that fall on your normal days of
work, or substituted days by agreement.

 

 

10.  Long Service
Leave

 

Long service leave entitlements
accrue and are paid in accordance with the provisions of the Long Service Leave Act 1992 (Victoria).  The basic entitlement is thirteen (13) weeks
leave after fifteen (15) years continuous employment with the Company.

 

11.  Sick Leave

 

(a)   You will be entitled to sick leave
at the rate of ten (10) days per annum, to be accrued and taken in
accordance with the Company’s policy.

 

(b)   Sick leave not used will accumulate
for the term of your employment with the Company.

 

(c)   No payment is made in lieu of
unused sick leave, either during your employment or on termination of your
employment with the Company.

 

12.  Parental Leave

 

Parental leave (maternity,
paternity, adoption leave) is unpaid leave which is granted and arranged in
accordance with the provisions of Schedule 1A of the Workplace
Relations Act 1996 (Cth.) (“WR Act”).  You will be entitled to parental leave in
accordance with these provisions.

 

With respect to parental leave,
the WR Act provides that to be eligible for such leave, an employee must have
had at least twelve (12) months continuous service with his or her employer
immediately preceding the date on which he or she commences leave.

 

It is acknowledged and agreed
that in circumstances where you have not had at least twelve (12) months
continuous employment with the Company immediately preceding the date on which
you seek to commence parental leave, such that you are not entitled to leave in
accordance with the provisions of the WR Act, the Company is under no
obligation to grant any other type of paid or unpaid leave to you, and your employment with the Company will cease when you
are unable to attend for work and perform the functions of your job.

 

13.  Workers’
Compensation

 

In the event that you are
injured at work, you are covered by the provisions of the Accident
Compensation Act 1985 (Victoria), and complementary Workcover
legislation.

 

14.  Performance
Review

 

Your performance will be
reviewed and discussed with you at least every six (6) months, consistent
with the conduct and practice of the Company’s performance management
system.  This is an important opportunity
for formal two-way communication about your performance, the content of your
position and your future development.  It
will include setting of objectives and/or performance indicators and, on
occasions, adjustment of the accountabilities and responsibilities expected of
this position.

 

15.  Travel and
Business Related Expenses

 

You may
be required to undertake business related travel, including interstate and
overseas travel, at the Company’s expense. 
In such circumstances you will receive

 

 

reimbursement of business
expenses reasonably and actually incurred in accordance with the Company’s
expense reimbursement policy.

 

16.  Company
Policies

 

You will be bound by the
employment policies and procedures adopted by the Company as varied from time to
time, including policies dealing with Harassment, Equal Opportunity and
Anti-discrimination and Smoking in the Workplace.  You are required to be familiar with these
policies and procedures.

 

17.  Issues,
Grievances and Disputes

 

If any issue, grievance or
dispute arises, it must be dealt with in the following manner:

 

(a)   The matter must first be discussed
by you with the Managing Director & Chief Executive Officer.

 

(b)   If not settled, the matter must
then be discussed with the Managing Director & Chief Executive Officer
and another non executive Director appointed by the Board for this purpose.

 

(c)   If the matter is not resolved, it
may be submitted to an agreed mediator by either yourself or the Company for
the purposes of conciliation or mediation. 
At this stage either yourself or the Company may be represented by an
adviser or advocate (eg., barrister or solicitor).

 

(d)   Until the matter is resolved your
responsibilities must be exercised at the direction of the Company.  No one shall be prejudiced as to the final
settlement by the continuance of work in accordance with this process.

 

(e)   You and the Company must cooperate
to ensure that these procedures are carried out expeditiously.

 

18.  Contract of
Employment

 

(a)   This position is defined as full time
employment.

 

(b)   The Company may require you to
undertake different work assignments or job responsibilities during the course
of your employment, either with the Company or with a subsidiary company, an
associated company, an associated business or organisation.  In such circumstances there would be no
reduction in your TRP.

 

(c)   Your employment may be terminated
by either yourself or the Company by giving three (3) months notice in
writing, or by the Company without notice by paying three (3) months TRP
in lieu of notice.

 

(d)   When either you or the
Company has given notice of termination of your employment, the Company may
require you to:

 

(i)            not perform any work for
it; or

(ii)           not attend the Company’s
place(s) of business; or

(iii)          perform only those duties
which the Company specifies to you.

 

(e)   In addition, the Company has the
right to terminate your employment without notice for serious misconduct or
serious or persistent breach of your terms or conditions of

 

 

employment and in such case
your Salary and other entitlements will be paid up to the time of termination
only.

 

19.  Confidentiality

 

It is a condition of your
employment that you will not disclose nor use at any time either during your
employment or thereafter, any policy, practice, procedure, customer
information, supplier information, trade secret, financial, business,
confidential or other data belonging to or concerning the business operations
or affairs of or otherwise relating to the Company or any associated companies,
their clients, customers and other business organisations acquired in the
course of your employment with the Company without first obtaining the Company’s
written consent to such disclosure, except such disclosure as may otherwise be
specifically required or permitted by the Company, required by law or unless
such information has become public knowledge through no action by yourself.

 

20.  Return of
Documents and Equipment

 

Upon termination of your
employment you must return to the Company or its authorised representative all
policies, procedures, plans, statistics, documents, records, data, computer
tapes or discs, papers or equipment in your possession or control which relate
in any way to the business or affairs of the Company or any related Company, or
belongs to the Company.  You are not
entitled to retain any equipment or a copy of any document referred to in this
clause.

 

21.  Intellectual
Property

 

If
during the period of your employment, you or you and the Company jointly,
formulate, discover, develop or construct any invention and or system
associated with the Company’s business, all rights, interest and title to such
formulas, discoveries, inventions and or systems shall vest in the Company
including without limitation any rights to any application in relation to a
discovery or invention which you may file in the Commonwealth of Australia or
elsewhere for the period of two (2) years after the termination of your
employment with the Company in respect of any such discoveries, inventions and
or systems.  It is further agreed that
you will promptly inform the Company in writing, of any and all such inventions
and systems.

 

22.  Non
Solicitation

 

You agree that you will not for yourself or for any other person, for one (1) year
after your employment with the Company ends, within Australia, without the
written consent of the Company, directly or indirectly do any of the following:

 

(a)   solicit, interfere with or
endeavour to entice away from the Company any person, firm or company who was
or has been, during the last one (1) year of your employment, a client or
customer of the Company (being a client or customer) to whom you provided
services while employed by the Company;

 

(b)   solicit, interfere with or
endeavour to entice away from the Company any employee of the Company;

 

 

(c)   provide services or accept any
request to provide services to or accept employment with a person, firm or
company who has been a client or customer of the Company during the last one (1) year
of your employment with the Company (being a client or customer to whom you
provided services while employed by the Company);

 

(d)   counsel, procure or assist any
person or company to do any of the acts referred to in this clause.

 

23.  Governing Law

 

Your employment, these terms
and conditions and the determination of any disputes or claims arising in
relation thereto are governed by the laws of the State of Victoria.

 

24.  Representation

 

We trust that the terms and
conditions of employment outlined in this letter are consistent with and
include all the principal issues covered during our discussions.  If you have any concerns about these matters,
please contact us prior to indicating your acceptance of this offer of
employment.

 

Please indicate your acceptance of this offer
of employment and the terms and conditions set out in this letter, by signing
the duplicate copy and returning it to us as soon as practicable.

 

 

	
  Yours sincerely

  
	
   

  
	
   

  
	
  G. R. Collier

  
	
  Managing Director & Chief
  Executive Officer

  

 

 

Acceptance

 

I confirm acceptance of the offer of
employment and the conditions set out in this letter.

 

 

	
   

  	
   

  	
   

  	
   

  
	
  (signed)

  	
   

  	
  (date)

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