Document:

<PAGE>

EXHIBIT 4.6
                  Employment Contract Between Softlink, Inc.
                                 and Ted Feng

This Agreement is made on August 17, 1998, between Softlink, Inc., a Nevada
Corporation, and ("Company"), with principal place of business at 2041 Mission
College Blvd., Ste. 156, Santa Clara, California 95054 and Ted Feng, an
individual, ("Employee"), with place of business at 4121 Campana Drive, Palo
Alto, California 94306.
                                    Recital
Company desires to hire Employee because of Employee's business experience and
expertise in software and internet.

1.0  Term of Contract
This agreement shall become effective from September 1, 1998, and will continue
in effect for three years with an option to renew for three years unless
terminated earlier.

2.0  Duties of Employee
Employee will serve Company faithfully in the capacity of Vice President of
Operations or in a capacity with greater responsibility or authority to the best
of Employee's ability under the direction of the Chief Executive Officer and /
or the Board of Directors of Company.

Employee shall not directly or indirectly render any services of a business,
commercial or professional nature to any person or organization other than
Company, which would benefit a competitor of Company or harm Company.
Additionally, Employee shall not directly or indirectly render any services of a
business, commercial or professional nature to any persons or organization other
than Company, which would negatively impact Employee's performance of his duties
with Company.

3.0  Compensation
Employee's salary shall be at a rate of $8,000 a month starting August 1, 1998.
Employee's salary will increase to $8800 a month when the Company receives its
next $823,000 of financing and Employee's salary will increase to $10,000 a
month when the Company receives at least another $2,000,000 of financing above
the $823,000. The salary shall be paid on a bi-monthly basis.

Employee will receive an option to purchase 80,000 shares (these include the
13,725 shares of the original 33,725 shares previously granted to Ted Feng under
a consulting agreement) of Softlink's common stock at a price of $0.61 a share
and 40,000 shares of Softlink's common stock at a price of $1.20 a share.
Employee shall have three years from the. date of vesting to exercise his right
to purchase the shares. The option will vest with 20,000 shares at a price of
$0.61 a share and $10,000 shares at a price of $1.20 a share vesting on signing
of this agreement and the balance will vested at a rate of 2,000 shares at a
price of $0.61 a share and 1,000 shares at a price of $1.20 a share per month
over the subsequent 30 months starting after the first six months of employment.
<PAGE>

4.0  Failure to Pay Employee
The failure of Company to pay Employee as provided above may, in Employee's sole
discretion, be deemed a breach of this agreement, and unless such breach is
cured within 15 days after written notice to Company, the breach of contract
issue shall be subject to binding arbitration under terms of the American
Arbitration Association.

5.0  Change of Ownership:  In the event there is a change of control during
Employee's employment, (a new owner controls more than 50 percent of the
Company's common stock) and Employee's employment is terminated within 12 months
of that event ( for reason other than cause) you will be eligible for a
termination payment equal to the then current monthly compensation. All stock
options will be immediately vested. For the purpose of this agreement, "cause"
will be defined as contemplated by Section 2924 of the California Labor Code)

6.0  Reimbursement of Expenses
Company shall reimburse Employee for reasonable out-of-pocket pre-approved
expenses that Employee shall incur in connection with Employee's services for
Company, on presentation by Employee of appropriate vouchers to Company within
10 days.

7.0  Other Benefits:  You will receive insurance, medical and health and other
benefits then currently available to other senior executives as per existing or
future policies.

8.0  Termination And Renewal of Agreement
An agreement to exercise the three-year option will be made mutually by both
parties in writing six months prior to the end of the term of the agreement. If
the option is not exercised, the parties are on notice that the agreement will
terminate on August 31, 2001. Company or Employee may terminate this agreement
without cause at any time with 30-day notice. If the Company terminates Employee
without cause prior to August 31, 2001, than 100% of the any option to purchase
common shares granted Employee by Company should immediately vest. If Employee
terminates this agreement prior to August 31, 2001, Employee forfeits any option
to be vested after the termination date.

9.0  Confidential Information
It is understood between the parties that, during the terms of the Agreement,
Employee will deal with confidential information that is employers property used
in the course of its business or other business confidential information.
Employee shall treat as confidential any information obtained by employee
concerning business, products, techniques, methods, systems, prices, plans or
policies of the Company or Company's customers.

10.0 General
This Agreement constitutes the entire agreement and understanding of the parties
with respect to the subject matter hereof and supersedes all prior oral or
written agreements, arrangements, and understandings with respect thereto. This
Agreement is made under and shall be construed pursuant to the laws of the State
of California, in the County of Santa Clara, as if the agreement was made and
entered into by both parties within the State of California.
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this agreement to be
executed as of the date first set forth above

Employee:                                         Company:
Ted Feng                                          Softlink, Inc.

/s/ TED FENG                                      /s/ JOHNSON T. LEE
--------------------------                        ------------------------------
Ted Feng                                          Johnson T. Lee, PresidentPROMISSORY NOTE

Borrower:         Covol Technologies, Inc.
                  3280 North Frontage Road
                  Lehi, UT  84043

Lender:           Zions First National Bank
                  Head Office/Commercial Banking
                  #1 South Main Street
                  Salt Lake City, UT  84125

--------------------------------------------------------------------------------

Principal Amount:  $4,000,000.00                     Date of Note:  May 31, 2000

PROMISE TO PAY. COVOL TECHNOLOGIES,  INC.  ("Borrower") promises to pay to ZIONS
FIRST NATIONAL BANK  ("Lender"),  or order, in lawful money of the United States
of  America,   the   principal   amount  of  Four   Million  &  00/100   Dollars
($4,000,000.00), together with interest on the unpaid principal balance from May
31, 2000, until paid in full.

PAYMENT.  Subject to any payment  changes  resulting  from changes in the Index,
Borrower will pay this loan in accordance with the following payment schedule:

     4 consecutive  quarterly  principal  payments of  $1,000,000.00  each,
     beginning  August 1, 2000,  with  subsequent  payments due November 1,
     2000,  February  1, 2001,  and final  payment  due May 1,  2001,  plus
     interest  calculated on the unpaid  principal  balances at an interest
     rate of 2.000 percentage points over the Index described below.

The annual interest rate for this Note is computed on a 365/360 basis;  that is,
by  applying  the  ratio of the  annual  interest  rate over a year of 360 days,
multiplied by the outstanding principal balance, multiplied by the actual number
of days the  principal  balance  is  outstanding.  Borrower  will pay  Lender at
Lender's  address  shown above or at such other place as Lender may designate in
writing. Unless otherwise agreed or required by applicable law, payments will be
applied first to any unpaid  collection costs and any late charges,  then to any
unpaid interest, and any remaining amount to principal.  VARIABLE INTEREST RATE.
The  interest  rate on this Note is subject to change from time to time based on
changes  in an index  which is the ZIONS  FIRST  NATIONAL  BANK  PRIME RATE (the
"Index"). "PRIME RATE" MEANS AN INDEX WHICH IS DETERMINED DAILY BY THE PUBLISHED
COMMERCIAL  LOAN  VARIABLE  RATE INDEX HELD BY ANY TWO OF THE  FOLLOWING  BANKS:
CHASE  MANHATTAN BANK,  WELLS FARGO BANK N.A., AND BANK OF AMERICA,  N.A. IN THE
EVENT NO TWO OF THE ABOVE BANKS HAVE THE SAME  PUBLISHED  RATE,  THE BANK HAVING
THE MEDIAN RATE WILL  ESTABLISH  LENDERS'  PRIME RATE. IF, FOR ANY REASON BEYOND
THE CONTROL OF LENDER, ANY OF THE AFOREMENTIONED BANKS BECOMES UNACCEPTABLE AS A
REFERENCE FOR THE PURPOSE OF DETERMINING THE PRIME RATE USED HEREIN, LENDER MAY,
FIVE DAYS AFTER POSTING NOTICE IN LENDERS OFFICES, SUBSTITUTE ANOTHER COMPARABLE
BANK FOR THE ONE DETERMINED UNACCEPTABLE. AS USED IN THIS PARAGRAPH, "COMPARABLE
BANK" SHALL MEAN ONE OF THE TEN LARGEST  COMMERCIAL  BANKS  HEADQUARTERED IN THE
UNITED  STATES OF  AMERICA.  THIS  DEFINITION  OF PRIME  RATE IS TO BE  STRICTLY
INTERPRETED  AND IS NOT  INTENDED TO SERVE ANY PURPOSE  OTHER THAN  PROVIDING AN
INDEX TO DETERMINE THE VARIABLE  INTEREST RATE USED HEREIN. IT IS NOT THE LOWEST
RATE AT WHICH  LENDER MAY MAKE

<PAGE>

LOANS TO ANY OF ITS  CUSTOMERS,  EITHER NOW OR IN THE FUTURE..  Lender will tell
Borrower the current Index rate upon Borrower's  request.  Borrower  understands
that  Lender may make loans  based on other  rates as well.  The  interest  rate
change will not occur more often than each DAY.  The Index  currently  is 9.500%
per annum.  The  interest  rate or rates to be  applied to the unpaid  principal
balance of this Note will be the rate or rates set forth above in the  "Payment"
section.  NOTICE:  Under no circumstances will the interest rate on this Note be
more than the maximum rate allowed by applicable law.  Whenever  increases occur
in the  interest  rate,  Lender,  at its  option,  may  do  one or  more  of the
following:  (a) increase  Borrower's payments to ensure Borrower's loan will pay
off by its original final maturity  date,  (b) increase  Borrower's  payments to
cover accruing interest, (c) increase the number of Borrower's payments, and (d)
continue  Borrower's  payments at the same amount and increase  Borrower's final
payment.

PREPAYMENT. Borrower agrees that all loan fees and other prepaid finance charges
are  earned  fully as of the date of the loan and will not be  subject to refund
upon early  payment  (whether  voluntary or as a result of  default),  except as
otherwise  required by law.  Except for the foregoing,  Borrower may pay without
penalty  all or a portion  of the  amount  owed  earlier  than it is due.  Early
payments will not,  unless agreed to by Lender in writing,  relieve  Borrower of
Borrower's  obligation to continue to make payments under the payment  schedule.
Rather,  they will reduce the  principal  balance due and may result in Borrower
making fewer payments.

DEFAULT.  Borrower  will be in  default  if any of the  following  happens:  (a)
Borrower  fails to make any payment when due.  (b)  Borrower  breaks any promise
Borrower has made to Lender, or Borrower fails to comply with or to perform when
due any other term, obligation, covenant, or condition contained in this Note or
any agreement  related to this Note, or in any other  agreement or loan Borrower
has with Lender.  (c)  Borrower  defaults  under any loan,  extension of credit,
security  agreement,  purchase or sales agreement,  or any other  agreement,  in
favor of any  other  creditor  or  person  that  may  materially  affect  any of
Borrower's  property  or  Borrower's  ability  to  repay  this  Note or  perform
Borrower's obligations under this Note or any of the Related Documents.  (d) Any
representation  or  statement  made or  furnished  to Lender by  Borrower  or on
Borrower's  behalf is false or misleading in any material  respect either now or
at the time made or furnished.  (e) Borrower  becomes  insolvent,  a receiver is
appointed for any part of Borrower's property,  Borrower makes an assignment for
the benefit of creditors,  or any proceeding is commenced  either by Borrower or
against Borrower under any bankruptcy or insolvency laws. (f) Any creditor tries
to take any of Borrower's  property on or in which Lender has a lien or security
interest. This includes a garnishment of any of Borrower's accounts with Lender.
(g) Any  guarantor  dies or any of the other  events  described  in this default
section  occurs  with  respect to any  guarantor  of this  Note.  (h) A material
adverse change occurs in Borrower's financial condition,  or Lender believes the
prospect of payment or performance of the  Indebtedness is impaired.  (i) Lender
in good faith deems itself insecure.

If any  default,  other than a default in payment,  is curable,  it may be cured
(and no event of  default  will have  occurred)  if  Borrower,  after  receiving
written notice from Lender demanding cure of such default: (a) cures the default
within thirty (30) days; or (b) if the cure requires more than thirty (30) days,
immediately initiates steps which Lender deems in Lender's sole discretion to be
sufficient  to cure the default  and  thereafter  continues  and  completes  all
reasonable  and  necessary  steps  sufficient  to produce  compliance as soon as
reasonably practical.

LENDER'S  RIGHTS.  Upon default,  Lender may declare the entire unpaid principal
balance on this Note and all accrued unpaid interest  immediately  due,  without
notice, and then Borrower will pay that amount. Upon default,  including failure
to pay upon final maturity,  Lender, at its option, may also, if permitted under
applicable  law,  increase  the  variable  interest  rate on this  Note by 3.000
percentage  points. The interest rate will not exceed the maximum rate permitted
by applicable law. Lender may

<PAGE>

hire or pay someone  else to help  collect  this Note if Borrower  does not pay.
Borrower also will pay Lender that amount. This includes,  subject to any limits
under  applicable law,  Lender's  reasonable  attorneys' fees and Lender's legal
expenses whether or not there is a lawsuit, including reasonable attorneys' fees
and legal expenses for bankruptcy  proceedings  (including  efforts to modify or
vacate  any  automatic  stay  or  injunction),   appeals,  and  any  anticipated
post-judgment collection services. If not prohibited by applicable law, Borrower
also will pay any court  costs,  in addition to all other sums  provided by law.
This Note has been  delivered  to Lender and  accepted by Lender in the State of
Utah. If there is a lawsuit,  Borrower agrees upon Lender's request to submit to
the jurisdiction of the courts of SALT LAKE County,  the State of Utah.  Subject
to the provisions on  arbitration,  this Note shall be governed by and construed
in accordance with the laws of the State of Utah.

RIGHT OF SETOFF.  Borrower grants to Lender a contractual  security interest in,
and hereby  assigns,  conveys,  delivers,  pledges,  and transfers to Lender all
Borrower's right, title and interest in and to, Borrower's  accounts with Lender
(whether checking, savings, or some other account), including without limitation
all accounts  held jointly with someone else and all accounts  Borrower may open
in the  future,  excluding  however  all IRA and Keogh  accounts,  and all trust
accounts for which the grant of a security  interest would be prohibited by law.
Borrower authorizes Lender, to the extent permitted by applicable law, to charge
or setoff all sums owing on this Note against any and all such accounts.

ARBITRATION DISCLOSURES:

    1.

         ARBITRATION  IS FINAL AND  BINDING ON THE  PARTIES  AND SUBJECT TO ONLY
    VERY LIMITED REVIEW BY A COURT.

    2.

         IN  ARBITRATION  THE  PARTIES  ARE  WAIVING  THEIR RIGHT TO LITIGATE IN
    COURT, INCLUDING THEIR RIGHT TO A JURY TRIAL.

    3.

         DISCOVERY IN ARBITRATION IS MORE LIMITED THAN DISCOVERY IN COURT.

    4.

         ARBITRATORS  ARE NOT  REQUIRED  TO INCLUDE  FACTUAL  FINDINGS  OR LEGAL
    REASONING IN THEIR AWARDS.  THE RIGHT TO APPEAL OR TO SEEK  MODIFICATION  OF
    ARBITRATORS' RULINGS IS VERY LIMITED.

    5.

         A PANEL  OF  ARBITRATORS  MIGHT  INCLUDE  AN  ARBITRATOR  WHO IS OR WAS
    AFFILIATED WITH THE BANKING INDUSTRY.

    6.

         IF YOU HAVE QUESTIONS ABOUT  ARBITRATION,  CONSULT YOUR ATTORNEY OR THE
    AMERICAN ARBITRATION ASSOCIATION.

    (a) Any claim or  controversy  ("Dispute")  between or among the parties and
    their  assigns,  including  but not  limited to  Disputes  arising out of or
    relating  to  this  agreement,   this  arbitration  provision  ("arbitration
    clause"),  or any  related  agreements  or  instruments  relating  hereto or
    delivered in

<PAGE>

    connection herewith ("Related Documents"),  and including but not limited to
    a Dispute based on or arising from an alleged tort,  shall at the request of
    any  party  be  resolved  by  binding  arbitration  in  accordance  with the
    applicable  arbitration rules of the American  Arbitration  Association (the
    "Administrator").  The provisions of this  arbitration  clause shall survive
    any  termination,  amendment,  or  expiration  of this  agreement or Related
    Documents.  The provisions of this  arbitration  clause shall  supersede any
    prior arbitration  agreement between or among the parties.  If any provision
    of this  arbitration  clause should be determined to be  unenforceable,  all
    other provisions of this  arbitration  clause shall remain in full force and
    effect.
    (b) The arbitration  proceedings shall be conducted in Salt Lake City, Utah,
    at a place to be determined by the Administrator.  The Administrator and the
    arbitrator(s) shall have the authority to the extent practicable to take any
    action  to  require  the  arbitration  proceeding  to be  completed  and the
    arbitrator(s)'  award  issued  within one  hundred  fifty  (150) days of the
    filing of the Dispute with the Administrator.  The arbitrator(s)  shall have
    the  authority  to impose  sanctions  on any party that fails to comply with
    time periods imposed by the  Administrator or the  arbitrator(s),  including
    the sanction of summarily  dismissing any Dispute or defense with prejudice.
    The arbitrator(s)  shall have the authority to resolve any Dispute regarding
    the terms of this agreement,  this arbitration  clause or Related Documents,
    including  any  claim or  controversy  regarding  the  arbitrability  of any
    Dispute.  All  limitations  periods  applicable  to any  Dispute or defense,
    whether by statute or agreement,  shall apply to any arbitration  proceeding
    hereunder and the  arbitrator(s)  shall have the authority to decide whether
    any  Dispute or defense is barred by a  limitations  period  and,  if so, to
    summarily  enter an award  dismissing  any Dispute or defense on that basis.
    The  doctrines of compulsory  counterclaim,  res  judicata,  and  collateral
    estoppel shall apply to any arbitration proceeding hereunder so that a party
    must state as a  counterclaim  in the  arbitration  proceeding  any claim or
    controversy  which arises out of the  transaction or occurrence  that is the
    subject matter of the Dispute.  The arbitrator(s) may in the  arbitrator(s)'
    discretion  and at the  request of any party:  (1)  consolidate  in a single
    arbitration  proceeding  any other claim or  controversy  involving  another
    party that is substantially related to the Dispute where that other party is
    bound  by  an  arbitration  clause  with  the  Lender,  such  as  borrowers,
    guarantors,  sureties, and owners of collateral; (2) consolidate in a single
    arbitration  proceeding any other claim or controversy that is substantially
    similar to the Dispute;  and (3) administer  multiple  arbitration claims or
    controversies  as class actions in accordance with the provisions of Rule 23
    of the Federal Rules of Civil Procedure.
    (c) The arbitrator(s)  shall be selected in accordance with the rules of the
    Administrator  from  panels  maintained  by  the  Administrator.   A  single
    arbitrator shall have expertise in the subject matter of the Dispute.  Where
    three arbitrators  conduct an arbitration  proceeding,  the Dispute shall be
    decided by a majority  vote of the three  arbitrators,  at least one of whom
    must have expertise in the subject matter of the Dispute and at least one of
    whom must be a practicing  attorney.  The  arbitrator(s)  shall award to the
    prevailing  party recovery of all costs and fees (including  attorneys' fees
    and costs,  arbitration  administration  fees and costs, and  arbitrator(s)'
    fees).  The  arbitrator(s),  either  during the pendency of the  arbitration
    proceeding or as part of the arbitration  award,  also may grant provisional
    or ancillary  remedies,  including but not limited to an award of injunctive
    relief, foreclosure,  sequestration,  attachment,  replevin, garnishment, or
    the appointment of a receiver.
    (d) Judgment  upon an  arbitration  award may be entered in any court having
    jurisdiction,  subject to the following limitation: the arbitration award is
    binding  upon the parties  only if the amount  does not exceed Four  Million
    Dollars  ($4,000,000.00);  if the award exceeds that limit, either party may
    demand  the right to a court  trial.  Such a demand  must be filed  with the
    Administrator  within thirty (30) days following the date of the arbitration
    award;  if such a demand is not made within that time period,  the amount of
    the arbitration award shall be binding.  The computation of the total amount
    of an arbitration  award shall include  amounts  awarded for attorneys' fees
    and costs,  arbitration  administration  fees and costs, and  arbitrator(s)'
    fees.
    (e) No provision of this arbitration  clause, nor the exercise of any rights
    hereunder,  shall  limit  the  right of any  party  to:  (1)  judicially  or
    non-judicially foreclose against any real or personal property

<PAGE>

    collateral or other security; (2) exercise self-help remedies, including but
    not limited to  repossession  and setoff rights;  or (3) obtain from a court
    having  jurisdiction   thereover  any  provisional  or  ancillary  remedies,
    including but not limited to injunctive relief, foreclosure,  sequestration,
    attachment,  replevin,  garnishment,  or the appointment of a receiver. Such
    rights  can be  exercised  at any time,  before or during  initiation  of an
    arbitration proceeding,  except to the extent such action is contrary to the
    arbitration award. The exercise of such rights shall not constitute a waiver
    of the  right  to  submit  any  Dispute  to  arbitration,  and any  claim or
    controversy  related to the exercise of such rights shall be a Dispute to be
    resolved  under the  provisions of this  arbitration  clause.  Any party may
    initiate arbitration with the Administrator; however, if any party initiates
    litigation and another party disputes any allegation in that litigation, the
    disputing  party--upon  the  request of the  initiating  party--must  file a
    demand for arbitration with the  Administrator  and pay the  Administrator's
    filing fee. The parties may serve by mail a notice of an initial  motion for
    an order of arbitration.  (f) Notwithstanding the applicability of any other
    law to this agreement,  the arbitration clause, or Related Documents between
    or among the parties,  the Federal  Arbitration  Act, 9 U.S.C.  Section 1 et
    seq., shall apply to the construction and interpretation of this arbitration
    clause.

GENERAL  PROVISIONS.  Lender may delay or forgo  enforcing  any of its rights or
remedies under this Note without losing them.  Borrower and any other person who
signs,  guarantees or endorses this Note,  to the extent  allowed by law,  waive
presentment, demand for payment, protest and notice of dishonor. Upon any change
in the terms of this Note, and unless otherwise  expressly stated in writing, no
party who signs this Note, whether as maker,  guarantor,  accommodation maker or
endorser,  shall be released from liability.  All such parties agree that Lender
may renew or  extend  (repeatedly  and for any  length of time)  this  loan,  or
release any party or guarantor or collateral; or impair, fail to realize upon or
perfect Lender's security interest in the collateral;  and take any other action
deemed necessary by Lender without the consent of or notice to anyone.  All such
parties  also agree that Lender may modify  this loan  without the consent of or
notice to anyone other than the party with whom the modification is made.

PRIOR TO SIGNING THIS NOTE,  BORROWER READ AND  UNDERSTOOD ALL THE PROVISIONS OF
THIS NOTE,  INCLUDING THE VARIABLE INTEREST RATE PROVISIONS.  BORROWER AGREES TO
THE TERMS OF THE NOTE AND ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THE NOTE.

BORROWER:

COVOL TECHNOLOGIES, INC.

By: /s/ Kirk A. Benson
   -------------------------------
KIRK A. BENSON, CHAIRMAN & CEO

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