Document:

EXHIBIT 10

EXHIBIT 10.1

Magnum d=Or Resources Inc.

2005 Stock Option, SAR and Stock Bonus Consultant Plan

ARTICLE 1

General Provisions

1.1

Purpose.  The purpose of the Magnum d=Or Resounces Inc. 2005 Stock Option, SAR and Stock Bonus Consultant Plan (the APlan@) shall be to retain and compensate independent consultants (the "Participants") of Magnum d=Or Resources Inc. (the "Company") and its subsidiaries, if any, by way of granting (i) non-qualified stock options ("Stock Options"), (ii) non-qualified stock options with stock appreciation rights attached ("Stock Option SAR=s"), and (iii) stock bonuses.   Directors, officers and employees of the Company are not eligible to participate in this Plan.  In addition, no person shall be a Participant in this Plan in consideration for consulting or other services related to capital raising activities for the Company or related to any stock promotion activities for the Company.   For the purpose of this Plan, Stock Option SAR=s  are sometimes collectively herein called "SAR=s;" and Stock Options.  The  Stock Options to be granted are intended to be "non-qualified stock options" as described in Sections 83 and 421 of the Code.  Furthermore, under the Plan, the terms "parent"  and "subsidiary" shall have the same meaning as set forth in Subsections (e) and (f) of Section 425 of the Code unless the context herein clearly indicates to the contrary.

1.2

General.  The terms and provisions of this Article I shall be applicable to Stock Options and SAR=s unless the context herein clearly indicates to the contrary.

1.3

Administration of the Plan.  The Plan shall be administered by the Stock Plan Committee (the "Commit­tee") appointed by the Board of Directors (the "Board") of the Company and consisting of at least one member from the Board.  The members of the Committee shall serve at the pleasure of the Board.  The Committee shall have the power where consistent with the general purpose and intent of the Plan to (i) modify the requirements of the Plan to conform with the law or to meet special circumstances not anticipated or covered in the Plan, (ii) suspend or discontinue the Plan, (iii) establish policies and (iv) adopt rules and regulations and prescribe forms for carrying out the purposes and provisions of the Plan including the form of any "stock option agreements" ("Stock Option Agreements").  Unless otherwise provided in the Plan, the Committee shall have the authority to interpret and construe the Plan, and determine all questions arising under the Plan and any agreement made pursuant to the Plan.  Any interpretation, decision or determination made by the Committee shall be final, binding and conclusive.  A majority of the Committee shall constitute a quorum, and an act of the majority of the members present at any meeting at which a quorum is present shall be the act of the Committee.

1.4

Shares Subject to the Plan.  Shares of stock ("Stock") covered by Stock Options, SAR=s, and stock bonuses shall consist of 20,000,000 shares of the Common Stock, $.001 par value, of the Company.  Either authorized and unissued shares or treasury shares may be delivered pursuant to the Plan.  If any Option for shares of Stock, granted to a Participant lapses, or is otherwise terminated, the Committee may grant Stock Options, SAR=s and stock bonuses for such shares of Stock to other Participants.  However, neither Stock Options nor SAR=s shall be granted again for shares of Stock which have been subject to SAR=s which are surrendered in exchange for cash or shares of Stock issued pursuant to the exercise of SAR=s as provided in Article II hereof.

1.5

Participation in the Plan.  The Committee shall determine from time to time those Participants who are to be granted Stock Options, SAR=s  and stock bonuses and the number of shares of Stock covered thereby.  

1.6

Determination of Fair Market Value.  As used in the Plan, "fair market value" shall mean on any particular day (i) if the Stock is listed or admitted for trading on any national securities exchange or the National Market System of the National Association of Securities Dealers, Inc. Automated Quotation System, the last sale price, or if no sale occurred, the mean between the closing high bid and low asked quotations, for such day of the Stock on the principal securities exchange on which shares of Stock are listed, (ii) if Stock is not traded on any national securities exchange but is quoted on the National Association of Securities Dealers, Inc., Automated Quotation System, the NASD electronic bulletin board, or any similar system of automated dissemination of quotations or securities prices in common use, the mean between the closing high bid and low asked quotations for such day of the Stock on such system, (iii) if neither clause (i) nor (ii) is applicable, the mean betw­een the high bid and low asked quotations for the Stock as reported by the National Quotation Bureau, Incorporated if at least two securities dealers have inserted both bid and asked quotations for shares of the Stock on at least five (5) of the ten (10) preceding days, (iv) in lieu of the above, if actual transact­ions in the shares of Stock are reported on a consolidated transaction reporting system, the last sale price of the shares of Stock on such system or, (v) if none of the conditions set forth above is met, the fair market value of shares of Stock as determined by the Board.  Provided, for purposes of determining "fair market value" of the Common Stock of the Company, such value shall be determined without regard to any restriction other than a restriction which will never lapse.

1.7

Adjustments Upon Changes in Capitalization.  The aggregate number of shares of Stock under Stock Options granted under the Plan, the Option Price and the total number of shares of Stock which may be purchased by a Participant on exercise of a Stock Option shall be approximately adjusted by the Committee to reflect any recapitalization, stock split, merger, consolidation, reorganization, combination, liquidation, stock dividend or similar transaction involving the Company except that a dissolution or liquidation of the Company or a merger or consolidation in which the Company is not the surviving or the resulting corporation, shall cause the Plan and any Stock Option, or SAR  granted thereunder, to terminate upon the effective date of such dissolution, liquidation, merger or consolidation.  Provided, that for the purposes of this Section 1.7, if any merger, consolidation or combination occurs in which the Company is not the surviving corporation and is the result of a mere change in the identity, form or place of organization of the Company accomplished in accordance with Section 368(a)(1)(F) of the Code, then, such event will not cause a termination.  Appropriate adjustment may also be made by the Committee in the terms of a SAR to reflect any of the foregoing changes.

1.8

Amendment and Termination of the Plan.  The Plan shall terminate at midnight, January 4, 2007, but prior thereto may be altered, changed, modified, amended or terminated by written amendment approved by the Board.  Provided, that no action of the Board may, without the approval of the Board of Directors, increase the aggregate number of shares of Stock which may be purchased under Stock Options, SAR=s or stock bonuses granted under the Plan; or withdraw the administration of the Plan from the Committee.  Except as provided in this Article I, no amendment, modification or termination of the Plan shall in any manner adversely affect any Stock Option or SAR theretofore granted under the Plan without the consent of the affected Participant.

1.9

Effective Date.  The Plan shall be effective January 5, 2005.

1.10

Securities Law Requirements.  The Company shall have no liability to issue any Stock hereunder unless the issuance of such shares would comply with any applicable federal or state securities laws or any other applicable law or regulations thereunder.

1.11

Separate Certificates.  Separate certificates representing the Common Stock of the Company to be delivered to a Participant upon the exercise of any Stock Option, or SAR will be issued to such Participant.

1.12

Payment for Stock; Receipt of Stock or Cash in Lieu of Payment.  

(a)

Payment for Stock.  Payment for shares of Stock acquired under this Plan shall be made in full and in cash or check made payable to the Company.  Provided, payment for shares of Stock purchased under this Plan may also be made in Common Stock of the Company or a combination of cash and Common Stock of the Company in the event that the purchase of shares is pursuant to the exercise of rights under an SAR attached to the Option and which is exercisable on the date of exercise of the Option.  In the event that Common Stock of the Company is utilized in consideration for the purchase of Stock upon the exercise of a Stock Option, then, such Common Stock shall be valued at the "fair market value" as defined in Section 1.6 of the Plan.

(b)

Receipt of Stock or Cash in Lieu of Payment.  Furthermore, a Participant may exercise an Option without payment of the Option Price in the event that the exercise is pursuant to rights under an SAR attached to the Option and which is exercisable on the date of exercise of the Option.  In the event an Option with an SAR attached is exercised without payment of the Option Price, the Participant shall be entitled to receive either (i) a cash payment from the Company equal to the excess of the total fair market value of the shares of Stock on such date as determined with respect to which the Option is being exercised over the total cash Option Price of such shares of Stock as set forth in the Option or (ii) that number of whole shares of Stock as is determined by dividing (A) an amount equal to the fair market value per share of Stock on the date of exercise into (B) an amount equal to the excess of the total fair market value of the shares of Stock on such date with respect to which the Option is being exercised over the total cash Option Price of such shares of Stock as set forth in the Option, and fractional shares will be rounded to the next lowest number and the Participant will receive cash in lieu thereof. 

1.13

Incurrence of Disability.  A Participant shall be deemed to have terminated consulting and incurred a disability ("Disability") if such Participant suffers a physical or mental condition which, in the judgment of the Committee, totally and permanently prevents a Participant from engaging in any substantial gainful consulting with the Company or a subsidiary. 

1.14

Grants of Options and Stock Option Agreement.  Each Stock Option and/or SAR granted under this Plan shall be evidenced by the minutes of a meeting of the Committee or by the written consent of the Committee and by a written Stock Option Agreement effective on the date of grant and executed by the Company and the Participant.  Each Option granted hereunder shall contain such terms, restrictions and conditions as the Committee may determine, which terms, restrictions and conditions may or may not be the same in each case.

1.15

Use of Proceeds.  The proceeds received by the Company from the sale of Stock pursuant to the exercise of Options granted under the Plan shall be added to the Company's general funds and used for general corporate purposes.

1.16

Non-Transferability of Options.  Except as otherwise herein provided, any Option or SAR granted shall not be transferable otherwise than by will or the laws of descent and distribution, and the Option may be exercised, during the lifetime of the Participant, only by him or her.  More particularly (but without limiting the generality of the foregoing), the Option and/or SAR may not be assigned, transferred (except as provided above), pledged or hypothecated in any way, shall not be assignable by operation of law and shall not be subject to execution, attachment, or similar process.  Any attempted assignment, transfer, pledge, hypotheca­tion, or other disposition of the Option and/or SAR contrary to the provisions hereof shall be null and void and without effect.

1.17

Additional Documents on Death of Participant.  No transfer of an Option and/or SAR by the Participant by will or the laws of descent and distribution shall be effective to bind the Company unless the Company shall have been furnished with written notice and an unauthenticated copy of the will and/or such other evidence as the Committee may deem necessary to establish the validity of the transfer and the acceptance by the successor to the Option and/or SAR of the terms and conditions of such Option and/or SAR.

1.18

Changes in Consultant Relationships.  So long as the Participant shall continue to be a consultant of the Company or any one of its subsidiaries, any Option granted to him or her shall not be affected by any change of duties or position.  Nothing in the Plan or in any Stock Option Agreement which relates to the Plan shall confer upon any Participant any right to continue as a consultant of the Company or of any of its subsidiaries, or interfere in any way with the right of the Company or any of its subsidiaries to terminate the consulting arrangement at any time.

1.19

Shareholder Rights.  No Participant shall have a right as a shareholder with respect to any shares of Stock subject to an Option prior to the purchase of such shares of Stock by exercise of the Option.

1.20

Right to Exercise Upon Company Ceasing to Exist.  Where dissolution or liquidation of the Company or any merger consolidation or combination in which the Company is not the surviving corporation occurs, the Participant shall have the right immediately prior to such dissolution, liquidation, merger, consolidation or combination, as the case may be, to exercise, in whole or in part, his or her then remaining Options whether or not then exercisable, but limited to that number of shares that can be acquired without causing the Participant to have an "excess parachute payment" as determined under Section 280G of the Code determined by taking into account all of Participant's "parachute payments" determined under Section 280G of the Code.  Provided, the foregoing notwithstanding, after the Participant has been afforded the opportunity to exercise his or her then remaining Options as provided in this Section 1.21, and to the extent such Options are not timely exercised as provided in this Section 1.21, then, the terms and provisions of this Plan and any Stock Option Agreement will thereafter continue in effect, and the Participant will be entitled to exercise any such remaining and unexercised Options in accordance with the terms and provisions of this Plan and such Stock Option Agreement as such Options thereafter become exercisable.  Provided further, that for the purposes of this Section 1.21, if any merger, consolidation or combination occurs in which the Company is not the surviving corporation and is the result of a mere change in the identity, form, or place of organization of the Company accomplished in accordance with Section 368(a)(1)(F) of the Code, then, such event shall not cause an acceleration of the exercisability of any such Options granted hereunder.  

1.21

Assumption of Outstanding Options and SAR=s.  To the extent permitted by the then applicable provisions of the Code, any successor to the Company succeeding to, or assigned the business of, the Company as the result of or in connection with a corporate merger, consolidation, combination, reorganiza­tion or liquidation transaction shall assume Options and SAR=s outstanding under the Plan or issue new Options and/or SAR=s in place of outstanding Options and/or SAR=s under the Plan, as determined in its sole discretion.

ARTICLE II

Terms of Stock Options and Exercise

2.1

General Terms.

(a)

Grant and Terms for Stock Options.  Stock Options shall be granted by the Committee on the following terms and conditions:  No Stock Option shall be exercisable within six months from the date of grant (except as specifically provided in Subsection 2.l(c) hereof, with regard to the death or Disability of a Participant), nor more than five years after the date of grant.  Subject to such limitation, the Committee shall have the discretion to fix the period (the "Option Period") during which any Stock Option may be exercised.  Stock Options granted shall not be transferable except by will or by the laws of descent and distribution, Stock Options shall be exercisable only by the Participant while actively retained as a consultant by the Company or a subsidiary, except that (i) any such Stock Option granted and which is otherwise exercisable, may be exercised by the personal representative of a deceased Participant within 12 months after the death of such Participant (but not beyond the Option Period of such Stock Option), (ii) if a Participant terminates his position as a consultant with the Company or a subsidiary on account of Retirement, such Participant may exercise any Stock Option which is otherwise exercisable at any time within three months of such date of termination and (iii) if a Participant terminates his position as a consultant with the Company or a subsidiary on account of incurring a Disability, such Participant may exercise any Stock Option which is otherwise exercisable at any time within 12 months of such date of termination.  If a Participant should die during the applicable three-month or 12-month period following the date of such Participant's  termination on account of Disability, the rights of the personal representative of such deceased Participant as such relate to any Stock Options granted to such deceased Participant shall be governed in accordance with Subsection 2.1(a)(i) of this Article II.

(b)

Option Price.  The option price ("Option Price") for shares of Stock subject to a Stock Option shall be determined by the Committee, but in no event shall the Option Price of  Stock Options be less than 85% of the "fair market value" of the Stock on the date of grant.

(c)

Acceleration of Otherwise Unexercisable Stock Option on Death, Disability or Other Special Circumstances.  The Committee, in its sole discretion, may permit (i) a Participant who terminates his position as a consultant due to a Disability, (ii) the personal representative of a deceased Participant, or (iii) any other Participant who terminates his position as a consultant upon the occurrence of special circumstances (as determined by the Committee) to exercise and purchase (within three months of such date of termination of  consulting arrangement, or 12 months in the case of a deceased or disabled Participant; all or any part of the shares subject to Stock Option on the date of the Participant's Disability, death, or as the Committee otherwise so determines, notwithstanding that all installments, if any, with respect to such Stock Option, had not accrued on such date.  Provided, such discretionary authority of the Committee shall not be exercised with respect to any Stock Option (or portion thereof) if the applicable six-month waiting period for exercise had not expired except in the event of the death or disability of the Participant when the personal representative of the deceased Participant or the disabled Participant may, with the consent of the Committee, exercise such Stock Option notwithstanding the fact that the applicable six-month waiting period had not yet expired.

(d)

Number of Stock Options Granted.  Participants may be granted more than one Stock Option.  In making any such determination, the Committee shall obtain the advice and recommendation of the officers of the Company or a subsidiary which have supervisory authority over such Participants.  The granting of a Stock Option under the Plan shall not affect any outstanding Stock Option previously granted to a Participant under the Plan.

(e)

Notice of Exercise Stock Option.  Upon exercise of a stock option, a Participant shall give written notice to the Secretary of the Company, or other officer designated by the Committee, at the Company's principal executive office.  No Stock shall be issued to any Participant until the Company receives full payment for the Stock purchased, if applicable, and any required state and federal withholding taxes.

ARTICLE III

SAR=s

3.1

General Terms.

(a)

Grant and Terms of SAR=s.  The Committee may grant SAR=s to Participants in connection with Stock Options  granted under the Plan.  SAR=s shall not be exercisable (i) earlier than six months from the date of grant except as specifically provided in Subsection 3.l(b) hereof in the case of the death or Disability of a Participant, and (ii) shall terminate at such time as the Committee determines and shall be exercised only upon surrender of the related Stock Option and only to the extent that the related Stock Option  (or the portion thereof as to which the SAR is exercisable) is exercised.  SAR=s may be exercised only by the Participant while actively engaged as a consultant by the Company or a subsidiary except that (i) any SAR=s previously granted to a Participant which are otherwise exercisable may be exercised, with the approval of the Committee, by the personal representative of a deceased Participant, even if such death should occur within six months of the date of grant (but not beyond the expiration date of such SAR), and (ii) if a Participant terminates his position as a consultant with the Company or a subsidiary, as the case may be, on account of  incurring a Disability, such Participant may exercise any SAR=s which are otherwise exercisable, with the approval of the Committee, anytime within 12 months of termination by Disability.  If a Participant should die during the applicable three-month period following the applicable 12 month period following the date of termination on account of Disability, the rights of the personal representative of such deceased Participant as such relate to any SAR=s granted to such deceased Participant shall be governed in accordance with (i) of the second sentence of this Subsection 3.l(a) of this Article III.  The applicable SAR shall (i) terminate upon the termination of the underlying Stock Option, as the case may be, (ii) only be transferable at the same time and under the same conditions as the underlying Stock Option  is transferable, (iii) only be exercised when the underlying Stock Option is exercised, and (iv) may be exercised only if there is a positive spread between the Option Price, as applicable and the "fair market value" of the Stock for which the SAR is exercised.

(b)

Acceleration of Otherwise Unexercisable SAR=s upon Death, Disability or Other Special Circumstances.  The Committee, in its sole discretion, may permit (i) a Participant who terminates his position as a consultant with the Company or a subsidiary due to a Disability, (ii) the personal representative of such deceased Participant, or (iii) any other Participant who terminates employment as  a consultant with the Company or a subsidiary upon the occurrence of special circumstances (as determined by the Committee) to exercise (within 12 months in the case of a disabled or deceased Participant) all or any part of any such SAR=s previously granted to such Participant as of the date of such Participant's  Disability, death, or as the Committee otherwise so determines, notwithstanding that all installments, if any with respect to such SAR=s, had not accrued on such date.  Provided, such discretionary authority of the Committee may not be exercised with respect to any SAR (or portion thereof if the applicable six-month waiting period for exercise had not expired as of such date, except (i) in the event of the Disability of the Participant or (ii) the death of the Participant, when such disabled Participant or the personal representative of such deceased Participant may, with the consent of the Committee, exercise such SAR=s notwithstanding the fact that the applicable six-month waiting period had not yet expired.

(c)

Form of Payment of SAR=s.  The Participant may request the method and combination of payment upon the exercise of a SAR; however, the Committee has the final authority to determine whether the value of the SAR shall be paid in cash or shares of Stock or both.  Upon exercise of a SAR, the holder is entitled to receive the excess amount of the "fair market value" of the Stock (as of the date of exercise) for which the SAR is exercised over the Option Price, as applicable, under the related Stock Option, as the case may be.  All applicable federal and state withholding taxes will be paid by the Participant to the Company upon the exercise of a SAR since the excess amount described above will be required to be included within taxable income in accordance with Sections 61 and 83 of the Code.

Magnum d=Or Resources Inc.

By:

                                                                        

Reno J. Calabrigo, President

Date Plan adopted and approved by the Board of Directors:  

January 5, 2005Exhibit 4.1.1

 

23 January 2004

 

Richard Moore

Sydney

2000

 

Dear Richard

 

On behalf of Australia and New Zealand
Banking Group Limited (“ANZ”), I am pleased to offer you employment with ANZ.

 

This letter sets out the terms of your
employment, and constitutes your employment agreement with ANZ (“employment
agreement”).  This employment agreement
replaces all existing agreements, arrangements, or understandings between you
and ANZ.  (References to ANZ include any
corporation related to ANZ under the Corporations
Act 2001.)

 

1                               Position,
Reporting Arrangements and Location

 

Your position is Group General Manager
Internal Audit reporting to the Chairman of the Audit Committee of the ANZ
Board and located at 100 Queen Street, Melbourne.

 

Your position is at Senior Executive Group
level.  ANZ may, at its discretion,
change your position, reporting arrangements, duties and location on giving you
reasonable notice, following consultation with you, and taking into account
career considerations and personal circumstances.

 

2                               Operative
Date

 

This employment agreement, and your
obligations under it, will commence on 1 April 2004.

 

3                               Remuneration

 

The details of your remuneration are set out
in the Schedule.  The Schedule forms part
of this employment agreement.  Your
entitlement to remuneration will commence on your first day of work in your new
position.

 

4                               Leave

 

4.1                     Annual Leave

 

You will receive 4 weeks’ contracted hours
paid annual leave for each completed year of paid service with ANZ.  You are required to take your full annual
leave entitlement of 4 weeks over the course of each ANZ financial year (1
October to 30 September), 2 weeks of which must be taken consecutively.  (ANZ policy requires that you are absent for
at least 10 consecutive business days per annum.)

 

At the end of each ANZ financial year, ANZ
will deem you to have taken your full 4 weeks’ annual leave.  Accordingly, there will be no positive
accrual of this leave and your annual leave balance at 1 October each year will
never be more than your balance at 1 October following your first year of
service, or zero whichever is greater.

 

1

 

4.2                     Sick Leave

 

You may take sick leave in accordance with
standard arrangements applicable to all ANZ employees.  Any untaken part of this entitlement is
cumulative from year to year.  In the
event of prolonged illness, ANZ may decide at its discretion to provide you
with sick leave in excess of your sick leave entitlements.  You are not entitled to any payment for
unused sick leave when your employment with ANZ ends.

 

4.3                     Parental Leave

 

You may take parental leave in accordance
with standard arrangements applicable to all ANZ employees.

 

4.4                     Long Service Leave

 

You are eligible for 13 weeks’ long service
leave after completing 15 years of continuous service, and a further 8.66 weeks’
leave for each subsequent 10 completed years of continuous service.  You may access long service leave on a
pro-rata basis after 10 completed years of continuous service.

 

5                               Ownership
of Intellectual Property and Trade Secrets

 

All inventions, discoveries, computer
software processes and improvements made by you during your employment with ANZ
remain the property of ANZ.

 

By signing this employment agreement, you:

 

•             assign to ANZ all proprietary rights including all ownership rights
and copyright and the exclusive right to develop, make, use, sell, license or
otherwise benefit from any inventions, discoveries, processes and improvements,
made by you within the scope of your employment with ANZ; and

 

•             agree to execute any further document that is necessary or desirable
to give full effect to your obligations under this clause 5.

 

6                               Values
and Ethical Standards

 

ANZ has developed guiding values and expects
you to actively ensure they are an integral part of the way that you, and those
who report to you, carry out duties within ANZ.

 

ANZ expects you to further ANZ’s objectives
and reputation and faithfully and diligently to perform your duties, exercise
your powers, and manage with integrity and respect all matters concerning ANZ
employees and customers.

 

ANZ also has certain ethical standards that
you are required to maintain.  In
particular, you must not in any way, either directly or indirectly, be or
become engaged, concerned or interested in any business whether as principal,
partner, director, agent, promoter or beneficiary except that of ANZ.  This requirement may be waived at ANZ’s
discretion by a written consent signed by the Chief Executive Officer.

 

7                               Conduct

 

You must at all times act honestly and in a
manner that is consistent with the status of your position with ANZ.  You indemnify ANZ against any loss or damage
it suffers as a result of any dishonest act by you, or any wilful misconduct in
carrying out your duties.

 

2

 

8                              Policies and Procedures, Performance Management Plans

 

8.1                     Policies and Procedures

 

ANZ has policies and procedures that apply to
your employment.  These policies and
procedures may be amended by ANZ from time to time.  They are not incorporated into or included in
your contract of employment with ANZ, including this employment agreement.

 

8.2                     Performance Management Plans

 

Performance management plans will be
developed in consultation with you and may be reviewed and varied during the
performance period.

 

9                               Confidential
Information

 

You must not disclose or use in any manner
(except in the proper course of your employment, by compulsion of law, or on
the written direction of an authorised officer of ANZ or its auditors) any information
about ANZ, its customers or its affairs which you acquire during your
employment with ANZ, unless the information is already legitimately in the
public domain.  This obligation extends
after your employment with ANZ ends.

 

You must also return to ANZ on request or
immediately your employment with ANZ ends:

 

•             all books, papers, documents and other property which belong or
relate to ANZ, its customers or its affairs, and any copies of such documents;
and

 

•             any vehicle, computer hardware or software, key, security pass or
other property that belongs to ANZ.

 

10                        Restraint

 

You must not at any time, either during your
employment with ANZ or for 6 months after your employment with ANZ ends (or for
such lesser time as a court may deem reasonable), either on your own account or
for or jointly with any other person solicit, interfere with or attempt to
entice away from ANZ any person who, at any time within the period of 12 months
before the date your employment with ANZ ends, was a customer or employee of,
or in the habit of dealing with, ANZ and whom you had direct or indirect
contact with, or dealings with or knowledge of, for the purpose of your
employment.

 

11                        Disciplinary
Action

 

If you fail to comply with the provisions of
your employment agreement or any other ANZ performance requirements, ANZ may
take disciplinary action which may include suspension with or without pay and,
in certain circumstances, termination of your employment with ANZ (see clause
12).

 

12                        Termination
of Employment

 

12.1              Termination Entitlements

 

Your termination entitlements will depend
upon the circumstances of the termination and are set out in this clause 12 and
in the Schedule. These will be the only entitlements paid to you upon the
termination of your employment with ANZ.

 

3

 

12.2              Resignation

 

You may terminate your employment for any
reason by giving ANZ 3 months’ written notice. 
You and ANZ may agree on a lesser period of notice, or ANZ may in its
discretion waive the notice period or any part of it.  If ANZ waives the notice period or any part
of it, entitlements on termination will include payment in respect of the
waived period calculated on the basis of your Total Employment Cost (TEC) as
described in the Schedule.

 

If, however, ANZ elects not to
waive the notice period, ANZ may, during the notice period or any part of it,
direct you not to perform all or part of the duties of your position, to cease
communication with customers, suppliers, employees and contractors of ANZ
and/or not to attend your principal place of work.

 

12.3              Termination by ANZ

 

(a)                       Termination on Notice

ANZ may terminate your employment for any
reason (other than (b) below) by giving you 6 months’ written notice.  ANZ may elect to pay you in lieu of giving
you all or part of the notice period based on your TEC.  Alternatively, ANZ may, during the notice
period or any part of it, direct you not to perform all or part of the duties
of your position, to cease communication with customers, suppliers, employees
and contractors of ANZ and/or not to attend your principal place of work.

 

(b)                       Serious Misconduct

ANZ may terminate your employment at any
time, without notice, because of your serious misconduct, serious neglect of
duty, or serious breach of any of the terms of this employment agreement.  In such circumstances, you will only be
entitled to payment of TEC up to the date of termination.

 

13                        Variations
to Conditions of Employment

 

Variations to your employment
agreement may be necessary for the fair, efficient and effective administration
of ANZ’s business. Accordingly, this employment agreement may be varied by
agreement from time to time. Your consent to such variation must not be
unreasonably withheld. If your consent is unreasonably withheld, ANZ may give
you one month’s written notice that such variation will take effect.

 

14                        Relevant
law

 

This employment agreement takes
effect under, is governed by and is to be interpreted according to, the law of
Victoria.

 

15                        Other
Conditions of Employment

 

In accordance with ANZ policy,
a police record check will be required to be undertaken prior to your
commencing work with ANZ.  Your
employment with ANZ is conditional upon receipt of a police record check that
is satisfactory to ANZ.

 

If you have not already provided the
following original documentation for sighting, then please forward copies with
your acceptance and bring the originals with you for verification on your first
day of work in your new position:

 

•                                Birth Certificate or Certificate of Extract of Birth;

•                                proof of legal right to work in Australia (if applicable); and

•                                evidence of educational qualifications.

 

4

 

Production of this documentation is a
condition of employment with ANZ.  If you
do not have this information, you will be asked to defer commencement with ANZ
until this documentation is produced.

 

As an ANZ employee, your salary
will need to be directly credited to an ANZ account.  An ANZ Access account attracts staff
concessional benefits.  To open this
account, or other accounts, contact your local branch or ANZ Phone Banking on
1800 641 567.  You will need to meet the
relevant account terms and conditions and present the necessary documentation
to meet the 100-point check required by law.

 

ANZ provides a challenging and ever-changing
job environment and I trust that it will be possible for you to develop and
enhance your capabilities within ANZ.  I
look forward to your contribution to the opportunities and challenges facing
ANZ.

 

A copy of this employment agreement is
enclosed for your records.  Please sign
and return the original to me to confirm your acceptance of its terms.

 

 

Yours sincerely

 

 

Shane Freeman

Group General Manager, People Capital

AUSTRALIA AND NEW ZEALAND BANKING GROUP
LIMITED

 

5

 

SCHEDULE

REMUNERATION ENTITLEMENTS, INCLUDING
PAYMENTS ON TERMINATION

 

	
  Name:

  	
  Richard Moore

  
	
  Title:

  	
  Group General Manager Internal Audit

  
	
  Location:

  	
  100 Queen St, Melbourne

  
	
  Reporting To:

  	
  The Chairman of the Audit Committee of the
  ANZ Board

  
	
  Schedule
  Issued:

  	
  23 January
  2004

  	
  Effective
  Date:

  	
  01
  April 2004

  

 

This Schedule forms part of your employment
agreement.

 

Your
remuneration will be a combination of salary, superannuation and benefits as
agreed between you and ANZ from time to time using ANZ’s total employment cost
(TEC) methodology. Essentially,
TEC is the fixed component of remuneration. 
It comprises notional salary (65% of TEC) and mandatory superannuation
contributions, with the balance being a flexible component.

 

Mandatory
superannuation contributions are paid in accordance with ANZ’s obligations
under legislation as varied from time to time. 
If legislative requirements for the payment of mandatory superannuation
contributions change, the flexible component of your TEC will be varied
accordingly (so that your TEC package remains the same).

 

The
flexible component of TEC can be directed to benefits that are available at ANZ’s
discretion in accordance with ANZ’s policy as amended from time to time.  It can be taken as a cash benefit (also
referred to as Cashtec) or non-cash benefits (such as motor vehicles, petrol,
parking and, if applicable, concessional lending) or a combination of both cash
benefit/Cashtec and non-cash benefits. 
Any fringe benefits tax that is payable on non-cash benefits will form
part of the flexible component of TEC.

 

Your notional salary,
superannuation and cash benefit/Cashtec (if applicable) will be paid
fortnightly and non-cash benefits will be provided as applicable.  ANZ will review your TEC annually.

 

Bonus payments are at the discretion of the
Board.

 

1                               Total Target Reward

 

Your Total
Target Reward (TTR) is a combination of Fixed Reward – TEC (60% of TTR) plus
Variable Reward – Executive Remuneration Scheme (40% of TTR).  Your annualised TTR is $500,000.

 

1.1                     Fixed Reward - TEC

 

Your TEC package on commencement of work in
your new position is $300,000 per annum.

 

You must take 65% of TEC as notional
salary.  The balance, less mandatory
superannuation contributions, is a flexible component and can be taken as cash
benefit/Cashtec or non-cash benefits or a combination of both.

 

1.2                     Variable Reward - Executive Remuneration Scheme

 

Bonus payments
under the Executive Remuneration Scheme are subject to business unit and
individual performance and are at the discretion of the Board.

 

Bonuses will be
paid one-half in cash and one-half in deferred shares.  The shares will vest 3 years from the date of
issue.  The Board may, at its discretion,
change the ratio of cash to shares.  You
must at all times comply with the provisions of ANZ’s Share Trading Policy.

 

i

 

1.3                     Long Term Incentives

 

You may be
eligible to participate in ANZ’s Long-Term Incentive Plan. Awards under this
Plan are entirely at the discretion of the Board.  Currently long-term incentives will be paid
one-half in deferred shares and one-half in options. The shares cannot be
traded until the third anniversary of their issue, subject to individual
performance hurdles being achieved. The options can only be exercised between
the third and seventh anniversary of their issue, subject to meeting the
required performance hurdles.

 

2                               Superannuation

 

Your notional
salary is used to calculate your superannuation contributions (if any) and the
level of mandatory superannuation contributions.  It is also used to calculate the insured
component of your death and total and permanent disablement benefits.  For full details of the ANZ Australian Staff
Superannuation Scheme, refer to the member’s booklet.

 

3                               Entitlements upon Termination of Employment

 

Upon termination of employment, you will be entitled to
payment for accrued and unused long service leave and annual leave in
accordance with the standard arrangements applicable to all ANZ employees.  Payments will be on the basis of your
notional salary plus cash benefit/Cashtec.

 

In addition to any notice or payment under clause 12 of your
employment agreement, you will have the following entitlements on the
termination of your employment:

 

•                                On resignation (see clause 12.2),
you will not be entitled to:

•                  any
unvested deferred shares issued to you under the ANZ incentive arrangements;

•                  exercise
any options.

 

The exception
to this is where you resign in order to retire from employment.  In this situation you will be required to
submit a statutory declaration to the effect that you intend to never again
resume permanent paid employment with another employer, in which case you will
be entitled to all unvested shares and options in accordance with,
respectively, the Employee Share Acquisition Plan Rules and ANZ Share Option
Plan Rules.

 

•                                On termination for serious misconduct (see clause 12.3(b)),

you will not be entitled to:

•                  any unvested deferred shares issued to you;

•                  exercise any options.

 

•                                On termination on notice (see clause 12.3(a)),

you will be entitled to:

•                  any deferred shares that have already vested, and any that vest
during the notice period;

•                  exercise any options that have already vested, and any that vest
during the notice period, in accordance with the ANZ Share Option Plan Rules
(that is, with the Board’s approval or otherwise in accordance with the Rules).

 

•                                On or total and permanent  disablement or death,

you or, in the event of death, your estate, will be entitled to:

•             a Performance Bonus pro-rated to the date of termination;

•             any deferred shares
issued to you;

•             exercise any options in accordance with the ANZ Share Option Plan
Rules (that is, with the Board’s approval or otherwise in accordance with the
Rules).

 

ii

 

4                               Definitions

 

For the purposes of this
employment agreement:

 

•                                total and permanent disablement means:

 

(a)                       in
circumstances where you are a member of the ANZ Australian Staff Superannuation
Scheme (the “Scheme”) or an ANZ-sponsored staff superannuation fund, total and
permanent disablement as determined by the trustee of the Scheme or fund;

 

(b)                      in
circumstances where you are not a member of the ANZ Australian Staff
Superannuation Scheme or an ANZ-sponsored staff superannuation fund, such state
of physical or mental incapacity as renders you unlikely ever to be able to
work again in a job for which you are reasonably qualified by education,
training or experience.  Every question
of total and permanent disablement will be decided by ANZ after receipt of
reports by two qualified medical practitioners approved by ANZ.

 

•                                salary means notional salary, which
is 65% of TEC.

 

 

ACCEPTANCE

 

I, Richard Moore, have read and understood
and agree to the terms of employment set out in this employment agreement
(including the Schedule).

 

 

	
  Name:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Signature:

  	
   

  	
   

  	
  Date:

  	
   

  	
   

  
	
   

  
	
   

  
	
  /S/ R. Moore

  	
   

  	
   

  	
   

  
	
  Dated: 09/02/04

  
							

 

iii

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