Company: SCCO
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001558370-25-004735
Chunk: 27

Company: SOUTHERN COPPER CORP/
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 27
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 Arequipa, Moquegua, and Tacna in Peru. Messrs. González Rocha, Jacob and Corrales and Ms. Vingerhoets received $328,882, $137,539, $111,958, and $85,648, respectively, in 2024 as participants in the pre-tax earnings of our Peruvian Branch. These amounts are reflected in the Summary Compensation Table under the All Other Compensation column.

| (b) | Peruvian Legal Holiday and Other Bonuses: |

Peruvian law also requires payment each year of one month’s salary to each employee as a bonus for Peruvian Independence holidays and Christmas. Peruvian law requires the payment of six days’ salary to every employee, including Messrs. González Rocha, Jacob and Corrales and Ms. Vingerhoets, every year in which May 1 falls on a Sunday or five days’ salary if it falls on a weekday (“Labor Day Bonus”). Peruvian law also requires the payment of a

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bonus to each salaried and non-salaried employee, including Messrs. González Rocha, Jacob and Corrales and Ms. Vingerhoets for the celebration of Miners’ Day. Said compensation is reflected in the Summary Compensation Table under the All Other Compensation column. In 2024, Messrs. González Rocha, Jacob and Corrales and Ms. Vingerhoets received, $101,557, $38,938, $32,599 and $23,514 as Peruvian Independence holidays, Christmas, Labor Day and Miners’ Day bonuses, respectively. These amounts are reflected in the Summary Compensation Table under the All Other Compensation column.

| (c) | Termination of Employment Compensation or CTS: |

Additionally, as compensation for years of service or CTS, Peruvian law requires a deposit of one twelfth of an employee’s annual salary, vacation, travel, Independence holidays, Christmas, dependents and service award bonus, each year, for each employee (whether Peruvian or expatriate) working in Peru, as applicable. This amount is deposited in a local bank of the employee’s choosing, in an individual account, which accrues interest paid by said bank. For all legal purposes, the chosen bank acts as trustee of the deposited amounts. The CTS funds can only be fully withdrawn when the employee terminates employment. In 2024, the Congress of Peru passed a law that provided an exception to the CTS rules,