Exhibit 4.59
 CONTRACT OF EMPLOYMENT
  RANDGOLD RESOURCES LIMITED
 
  GRAHAM P. SHUTTLEWORTH
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THE PARTIES AGREE AS FOLLOWS:
 1.
    
    INTRODUCTIONIt is recorded that the parties have negotiated and now wish to record the terms of a
contract of employment updating all previous contracts between them.2.
    
    EMPLOYMENT
 2.1
    
    The Employee shall serve the Company as Financial Director or in such other capacity of a
like status as the Company may require.2.2
    
    Notwithstanding the date of signature hereof, the employee shall be deemed to have been
employed by the company as Financial Director from 1 July 2007 (Commencement Date)2.3
    
    The employment of the Employee as Financial Director of the Company shall continue for an
indefinite period, until terminated on not less than six months written notice given by one
party to the other.2.4
    
    In the event of a change in control of the ownership of the Company the Employee will be
entitled to be paid six months remuneration, in lieu of notice, should he not be offered an
equivalently remunerated position. Further, in such circumstances the Employee will qualify to
be paid his full bonus in terms of the bonus scheme defined in this contract and any
restricted stock allocated to him will vest and become payable.
 3.
    
    DUTIES
 3.1
    
    As Financial Director of the Company, the Employee shall:
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3.1.1
    
    undertake such duties and exercise such powers in relation to the Company, its associated
companies and their businesses as the board of directors of the Company (the Board) shall
from time to time assign to or vest in him, provided however, that the Board shall procure
that such duties and powers shall not conflict with one another. The Employee has a copy of
his current Job Description. It is specifically agreed that the duties and responsibilities
outlined in the Job Description are not an exhaustive list of the Employees duties and
responsibilities and they may change from time to time at the discretion of the Board;
 3.1.2
    
    in the discharge of such duties and in the exercise of such powers, observe
and comply with all resolutions, regulations and directives from time to time made or
given by the Board; and3.1.3
    
    use his best endeavours to properly conduct, improve, extend, develop,
promote, protect and preserve the business interest, reputation and goodwill of the
Company and its associated companies.
 3.2
    
    For the purposes of this Agreement, Associated Company or Associated Companies means 3.2.1
    
    any company or entity which is directly or indirectly controlled by the Company,3.2.2
    
    any company or entity which directly or indirectly controls the Company, or3.3
    
    The Employee shall at all times promptly give to the Board (in writing, if so requested) all
such information and explanations as it requires in connection with matters relating to his
employment
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or with the business of the Company and/or its associated companies.3.4
    
    It shall be part of the normal duties of the Employee at all times to consider in what manner
and by what new methods or devices the products, services, processes, equipment or systems of
the Company and associated companies might be improved, and promptly to give to the Secretary
of the Company full details of any invention or improvement which he may from time to time
make or discover in the course of his duties, and to further the interests of the Company and
its associated companies undertakings with regard thereto. Any such invention or improvement
shall be the property of the Company and the Employee shall take all steps as may be necessary
and reasonably required by the Company, at the sole expense of the Company, to procure that
the Company obtains complete and exclusive legal title to any such invention or improvement.3.5
    
    The Employees normal place of work (excluding the extensive business travelling he is
required to undertake) shall be principally at the Companys offices and operations in Jersey,
West Africa and Central Africa, or at other offices and projects as the Company may from time
to time direct. It is specifically recorded that due to the changing nature of the Companys
work requirements, management require the Employee to relocate and the Employee hereby agrees
to do so. The Company undertakes to pay all reasonable costs associated with the relocation,
as agreed between the Employee and the C.E.O..
 4.
    
    REMUNERATION PACKAGE
 4.1
    
    As from 1 January 2010, the Employees basic remuneration package shall be GBP 330 212 (Three
hundred and thirty thousand and two hundred and twelve pounds) per annum,which will be
reviewed as an addendum to this agreement from time to time.
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4.2
    
    The composition of the Employees remuneration package shall be the following:4.2.1
    
    An annual salary, which shall be equal to GBP 330 212, and will include the annual basic
salary plus the cost to the Company of providing the other components of the package set out
in 4.2.2 and 4.2.3;4.2.2
    
    the contributions payable by the Company in respect of the membership of the Employee and
his wife and children to the medical aid scheme of which the Employee is a member,4.2.3
    
    the monthly contributions payable by the Company in respect of the Employees membership to
any pension, provident and retirement annuity funds nominated by the Employee.4.3
    
    The Employees basic package shall be payable in equal monthly instalments (and
proportionately for any lesser period, each monthly instalment being deemed to accrue rateably
from day to day) in arrears on the last day of each month.4.4
    
    The parties acknowledge that it may be necessary for the Employee to be employed directly by
one or more Associated Companies. In this regard, the parties agree that to the extent that
the Employee is remunerated (and receives benefits such as paid leave) by the Associated
Company, then the remuneration (and benefits, such as leave) received under this clause 4 will
be reduced by the amount of remuneration, etc. received from the Associated Company.
 5.
    
    RESTRICTED SHARE AWARD(Incentive Plan)It is agreed that the Board of directors may, at its discretion, grant the Employee an
award of restricted shares in terms of the companies Restricted Share Scheme. In the event
of such an award being so granted, the terms and conditions of such an award and the
vesting of that award shall be as set out by the rules of the scheme and by the performance
criteria set by the C.E.O. in consultation with the employee and approved by the Companys
Remuneration Committee
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and recorded as an addendum to this agreement from time to time. It is noted that an award
of 54,000 restricted shares were awarded in September 2009, see Addendum 1 attached. Any
further awards will be recorded by addendum to this contract.6.
    
    TAX PAYMENTSThe Employee will be responsible for the payment of tax related to this contract, where
PAYE arrangements are not in place.7.
    
    EXPENSES
 7.1
    
    The Employee shall be reimbursed for all travelling, hotel and other out-of-pocket expenses
reasonably incurred by him in or about the discharge of his duties hereunder.7.2
    
    Should it become necessary during the Employees periods of work to be evacuated from his
place of work for medical reasons, the Company shall arrange for such evacuation and the costs
thereof shall be for the Companys account.7.3
    
    The Company shall meet the Employees membership fees of such professional bodies as it deems
are required.7.4
    
    The Board may, at its discretion, grant reimbursements for reasonable and appropriate
security, security services and one telecommunications line at the Employees residence, both
at the Companys expense.7.5
    
    The Company may, at its discretion, meet the total, or a portion thereof, of membership fees
of an appropriate club.
 8.
    
    BONUS SCHEME
 8.1
    
    The Employee shall be entitled to be paid a bonus (an Annual Bonus) in respect of this
contract, between him and the
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Company, with regard to the period commencing January 1, 2010 and ending on
December 31, 2010, and thereafter in respect of each subsequent twelve (12) month
period of employment with the Company (each, a Bonus Year), based on Employee
and Company achievement of certain performance targets to be proposed by the Chief
Executive Officer and reviewed and approved by the remuneration committee of the
Board of Directors (Remcom) of the Company as challenging yet achievable in the
reasonable exercise of its business judgment and recorded as an addendum to this
agreement from time to time.
 9.
    
    HOLIDAYSThe Employee shall be entitled to 33 (thirty three) working days paid holiday in each
successive period of 12 (twelve) months continued
Employment with the Company, to be taken at such times as the Board shall consider most
convenient, having regard to the requirements of the Companys business. The Company hereby
acknowledges its continuing obligation with respect to the number of leave days the
Executive has accumulated since the commencement of his employment (entitled paid leave
days not taken due to pressure of work, etc.) and additional such accumulated leave days
going forward, as approved by the Board, which approval, shall not be unreasonably
withheld.10.
    
    LIFE ASSURANCE
 10.1
    
    Subject to the insurance companys requirements, life assurance cover against death and
disability is provided for the
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Employee whilst the Employee is a member of the Companys Provident Fund, as
follows :10.1.1
    
    As a member of the Companys Provident Fund, the Employee has been accepted by Zurich
International Life Group life / lump sum disability scheme and has been accepted for cover, in
terms of the rules of the scheme (see rules Addendum 2 to this document);10.1.2
    
    The Employee is also a member of the Companys Momentum Disability scheme, in terms of the
rules of the scheme (see Addendum 3 to this contract).
 11.
    
    APPLICATION OF PROVISIONS OF PERSONNEL MANUALS
 11.1
    
    The terms and conditions of employment as contained in any of the Companys personnel
policies and manuals are incorporated into this Agreement and the Employee shall be bound by
the provisions thereof.11.2
    
    The Employees entitlement to any benefit other than those recorded in this Agreement shall
be governed by the appropriate provisions of the Companys personnel policies and manuals.11.3
    
    It is expressly provided that such policies and manuals may be changed, added to and/or
deleted from time to time at the discretion of the Company and it is agreed that by accepting
these terms and conditions, the Employee hereby accepts any such changes, which will be
appropriately communicated to him.11.4
    
    In the event of a conflict between the provisions of the personnel policies and manuals and
the provisions of this Agreement, the provisions of this Agreement shall override those
contained in the personnel policies and manuals.
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12.
    
    INCAPACITY
 12.1
    
    If the Employee at any time becomes incapacitated or prevented by illness, injury, accident
or any other circumstance beyond his control (the incapacity) from discharging his full
duties hereunder for a total of 180 (one hundred and eighty) or more days in any 12 (twelve)
consecutive calendar months, the Company may by notice in writing to the Employee given at any
time so long as the incapacity shall continue:12.1.1
    
    discontinue payment in whole or in part of the salary on and from such dates as may be
specified in the notice until the incapacity shall cease; or12.1.2
    
    whether or not payment shall already have been discontinued, terminate this Agreement
forthwith or on such date as may be specified in the notice.12.2
    
    Save as hereinafter provided the Employees salary shall, notwithstanding the incapacity,
continue to be paid to the Employee in accordance with paragraph 4, in respect of the period
of incapacity prior to such discontinuance or termination.12.3
    
    Notwithstanding the above, whilst the Employee is a member of the Companys Provident Fund,
the Employee shall be covered against temporary and permanent disability under the Companys
insurance policies. Therefore, to the extent that the Employee receives payment of disability
benefit in terms of any such insurance policies, the Company will not pay to the Employee his
salary in terms of clause 4 above.
 13.
    
    TERMINATION
 13.1
    
    This Agreement may be terminated forthwith by the Company without prior notice if the
Employee shall at any time:13.1.1
    
    commit any serious or persistent breach of any provisions contained in this Agreement;13.1.2
    
    be guilty of misconduct or wilful neglect in the discharge of his duties;
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13.1.3
    
    become insolvent or make any arrangement or composition with his creditors;13.1.4
    
    notwithstanding the provisions of clause 10 above, become permanently incapacitated by
accident or ill-health from performing his duties under this
Agreement and for the purposes of this sub-clause incapacity for 3
(three) consecutive months or an aggregate period of 6 (six) months
in any period of 12 (twelve) months shall be deemed to be
permanent incapacity.13.2
    
    Subject to the provisions set out in 13.1 above, either the Employee
or the Company may, during the period of this contract of employment
terminate the relationship by giving to the other party six months
notice in writing.13.3
    
    Notwithstanding the aforegoing, the Employees employment
will terminate through effluxion of time on reaching the age of
60 (Sixty) years.
 14.
    
    CONFIDENTIALITYIt is recorded that in the performance of his duties for the Company anywhere in the world
the Employee agrees that he will not divulge any information to any unauthorised persons or
bodies relating to any aspect of his work or any of the operations or processes of the
Company. Such information shall include methods, processes, computer software,
documentation, know-how, trade secrets, other confidential information or any other
information which could be damaging to the Employers business or which could benefit other
parties to the detriment of the Company or its activities.
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15.
    
    RETURN OF COMPANY PROPERTYThe Employee shall promptly whenever requested by the Company and, in any event
upon the termination of his employment with the Company, deliver to the Company
all lists of clients or customers, correspondence and all other documents,
papers and records which may have been prepared by him or have come into his
possession in the course of his employment with the Company, and the Employee
shall not be
entitled and shall not retain any copies thereof. Title and copy-right therein shall vest
in the Company and, where appropriate, any Associated Company.16.
    
    OTHER EMPLOYMENTWhile this Agreement remains in force, the Employee shall not be engaged or take
part, directly or indirectly, whether as an employee or in any other capacity, in any other
business without the Companys prior written permission.17.
    
    DOMICILIUM
 17.1
    
    The parties hereto respectively choose domicilium citandi et executandi for all purposes of
and in connection with this Agreement as follows:
  
  
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17.2
    
    In case of any notice :17.2.1
    
    delivered by hand, it shall be deemed to have been received, unless the contrary is proved,
on the date of delivery, provided such date is a business day, otherwise on the following
business day;17.2.2
    
    sent by pre-paid registered post it shall be deemed to have been17.2.3
    
    received, unless the contrary is proved, on the seventh business day after posting;17.2.4
    
    sent via telefax transmission, shall be deemed to have been received on the same day,
provided such day is a business day, otherwise on the following business day. The party giving
notice by telefax transmission shall have the onus of proving that the telefax was received by
the addressee.17.3
    
    Any party shall be entitled by notice to the other, to change its domicilium
provided that the change will become effective only business days after service of the notice
in question.17.4
    
    For the purposes hereof, business day means any day other than a Saturday, Sunday or public
holiday.
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18.
    
    GENERAL
 18.1
    
    No alteration, cancellation, variation of, or addition hereto shall be of any force or effect
unless reduced to writing and signed by the parties as an addendum to this Agreement or their
duly authorised signatures.18.2
    
    Subject only to 18.1, this document contains the entire agreement between the parties and
neither party shall be bound by any undertakings, representations or warranties not recorded
herein.18.3
    
    No indulgence, leniency or extension of time which either party (the grantor) may grant or
show to the other, shall in any prejudice the grantor or preclude the grantor from exercising
any of its/his rights in the future.18.4
    
    Neither party may cede or assign its/his rights and delegate its/his obligations in terms of
this Agreement without the prior written approval of the other party.18.5
    
    Each party warrants and undertakes to the other that:18.5.1
    
    it is not acting as undisclosed agent or nominee for any person in entering into this
Agreement; and18.5.2
    
    it is entering into this Agreement to secure the benefits of this Agreement for itself only
and for no other person.18.6
    
    The headings appearing in this Agreement have been used for reference purposes only and shall
not affect its interpretation.18.7
    
    The Company shall bear the costs of and incidental to the negotiation, preparation and
conclusion of this Agreement.18.8
    
    The interpretation and enforcement of this Agreement shall at all times be governed by law
prevailing in Jersey from time to time, and the parties hereto hereby consent and submit to
the jurisdiction of the Courts of Jersey in all matters arising from or concerning this
Agreement.18.9
    
    If any clause or term of this Agreement should be invalid, unenforceable or illegal, then the
remaining terms and provisions of this Agreement shall be deemed to be severable therefrom and
shall continue in full force and effect unless such
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invalidity, unenforceability or illegality goes to the root of this Agreement.18.10
    
    The Employees rights under this Agreement are not capable of assignment or hypothecation,
nor of attachment by the Employees creditors.
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AS WITNESSES :
 /s/ D. Mark BristowFor and on behalf of:
    RANDGOLD RESOURCES LIMITEDCapacity: Chief executive Officer rd
 AS WITNESSES :
 /s/ Graham P. ShuttleworthGRAHAM P. SHUTTLEWORTH W R A Houston
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ADDENDUM 1 TO CONTRACT OF EMPLOYMENT OF GRAHAM
SHUTTLEWORTH
 1.
    
    AWARD OF RESTRICTED STOCK in terms of the provisions of clause 5 of this contract of
employment, the Employer has the right to award the Employee, on such occasions as it deems
appropriate, an award of restricted stock. The Employer awarded the Employee an award of
restricted stock of 54,000 shares on 4 September 2009.2.
    
    TERMS AND CONDITIONS OF THE AWARDFurther awards of restricted stock to the Employee may be granted from his date of
appointment as noted on his contract of employment.The vesting of any portion of the award is subject to the employee being employed and
achieving a 70% score on the assessment of his performance during the 12 month period
preceding each vesting date. The assessment will be carried out by the C.E.O. against
criteria agreed with the Employee.In terms of the award approved by the Board in 2009 and subject to the second paragraph of
section 2 above, the Employee will be entitled to vest the Shares in three tranches, as
follows:in respect of the first one-third of the shares, i.e.18,000, on 2 September 2011;in respect of the second third of the of the shares, i.e. 18,000, on or after 2 September
2012;in respect of the remaining last third of the shares, i.e. 18,000, on or after 2 September
2013.
 2.4
    
    In the event of a change of ownership of the Company, which has the
affect that the Employee isnotoffered an equivalent position by the
new Employer (i.e. Financial Director of a publicly listed Company), all the
restricted stock will vest on the date of the ownership change.
 THUS DONE and SIGNED by Dr D M Bristow at Johannesburg on this the 31 st day of July
2010, in the presence of the undersigned witnesses, the signatory hereby warranting by his
signature that he is duly authorised thereto.
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ADDENDUM 2
 RANDGOLD RESOURCES DEATH AND LUMP SUM DISABILITY
BENEFITS  SCHEME SUMMARY
 UNDERWRITER
    
    :
    
    Zurich International Life LimitedPOLICY NUMBER
    
    :
    
    9434INCEPTION DATE
    
    :
    
    March 2006CHANGES IN SALARY
    
    :
    
    Effective immediatelyELIGIBILITY
    
    :
    
    All employees on the permanent staff who are
under Benefit Termination AgeCATEGORIES
    
    :
    
    Category A  Career employees (Provident Fund
members)Category B  Contract
employees (non Provident Fund
members)BENEFIT TERMINATION AGE
    
    :
    
    70MEDICAL FREE LIMIT
    
    :
    

    $454 000PREMIUM RATE
    
    :
    
    Death  $3.333 per $1 000Lump sum disability  $2.61
per $1 000PREMIUM PAYMENT FREQUENCY
    
    
    
    Annual but proportional annual
invoice issued in respect of new
entrants and withdrawals throughout the
year-NUMBER OF MEMBERS
    
    :
    
    113 (September 2008)
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DEATH BENEFIT
    
    
    
    Category A  3 times annual salary (no
maximum benefit)Page 22Category B  2 times annual
salary (maximum $200 000)DISABILITY BENEFIT (if
disability benefit is paid,
death cover falls away)
    
    
    
    Category A  3 times
annual salary (maximum
benefit of $1 500 000)Category B  2 times annual
salary (maximum benefit of
$200 000)WAITING PERIOD
    
    :
    
    12 monthsDISABILITY PARAMETER
    
    
    
    White collar workers  own or a similar
occupation.Blue collar workers  any
occupationAn assessed disability degree
of 66.666% or more qualifies
for a benefit
 summary some of the exclusion clauses specified
 
    
    Active participation in terrorism, war or warlike operations; passive war if a staff
member goes to and remains in a country after war is declared (or after being recognized
as a war zone and there is official government advice to leave).
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
    
    Any claim arising as a direct or indirect consequence of the use of nuclear, biological
or chemical weapons, or any radioactive contamination; or as a result of attacks or
sabotage on such facilities.
    
    Intentionally self inflicted injuries and attempted suicide, whether sane or insane,
gross negligence and violation of the law
    
    Abuse of drugs, alcohol and medication other than prescribed by a physician.
    
    Disability which results from a mental or nervous disorder which continues after 24
months after benefit commenced, unless member confined to a duly licensed hospital or
institution. If released from hospital a maximum of 90 days recovery period is permitted ....
etc.
    
    Unless prior written agreement is obtained from the insurers, hazardous sports
including but not limited to:
 
    
    boxing;
    
    climbing/mountaineering requiring ropes or guides or free climbing;
    
    flying, except as a fare paying passenger in a regularly scheduled
aircraft or in a company owned or hired jet or helicopter for transportation of
employees;
    
    all professional sports
    
    hang gliding, delta wing gliding and paragliding;
    
    motorized racing of any form;
    
    deep sea diving;
    
    parachuting;
    
    bungee jumping;
    
    show jumping, steeple chasing, eventing or flat racing with a
horse.
 UNINSURABLE RISKS
  
    
    cave diving; wreck penetration; free diving; diving with explosives; potholing with
diving;
    
    formula 1 racing;
    
    aerobatics or stunt flying, competitions, air shows or aircraft testing;
    
    stunts of all descriptions;
    
    solo round the world sailing competitions;
    
    solo rock climbing/mountaineering;
    
    base jumping;
    
    world record attempts;
    
    skiing off piste (normal skiing within official marked tracks is covered).
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ADDENDUM 3
 RANDGOLD RESOURCES MONTHLY DISABILITY INCOME BENEFITS  SCHEME SUMMARY
 UNDERWRITER
    
    :
    
    Momentum Collective BenefitsPOLICY NUMBER
    
    :
    

    110754INCEPTION DATE
    
    :
    
    1 January 2005REVIEW DATE
    
    :
    
    MarchCHANGES IN SALARY
    
    :
    
    Effective immediatelyDUAL INCOME EARNERS
    
    :
    
    The maximum benefit of R75 000 and
employer waiver of R18 000 will apply to
the combined benefits for any employee
who earns a salary from both Seven
Bridges and Randgold ResourcesELIGIBILITY
    
    :
    
    All employees on the permanent staff who
are under Benefit Termination Age and are
Career employees and not Contract
employeesBENEFIT TERMINATION AGE
    
    :
    

    65MEDICAL FREE LIMIT
    
    :
    
    R30 000 per month benefit (inclusive of
employer waiver)EXCHANGE RATE
    
    :
    
    R8.50:$1 (October 2008)EXCHANGE RATE REVIEW DATES
    
    :
    
    1 January and 1 July of each yearPREMIUM RATE
    
    :
    
    1.743% of monthly salary roll (March 2008)Page 25MONTHLY DISABILITY
INCOME BENEFIT
    
    
    
    A monthly payment of 75% of salary, subject to a maximum benefit
of R75 000 per monthESCALATION
    
    :
    
    5% per annum or CPI, whichever is the lower
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WAIVER OF PREMIUM
    
    :
    
    20% (R18 000.00 per month maximum)WAITING PERIOD
    
    :
    
    3 monthsPAYMENT OF 
PREMIUMS 
AND BENEFITS
    
    
    
    Momentum offer cover subject
to premiums and benefits being
paid in SA Rand. In the event
of a claim the benefit will be
paid to the Employer in SA
Rand based on the scheme
exchange rate in force at the
time and the employer will be
liable for any fluctuations in
the exchange rate when
forwarding the US Dollar
equivalent of the benefit to
the claimant.RATE GUARANTEE PERIOD
    
    :
    
    1 yearCONVERSION OPTION
    
    :
    
    On withdrawal to age 55DISABILITY DEFINITION
    
    
    
    Own occupation for the first
two years; own or similar
thereafter;Drivers  any occupation where there
are more than 15% of the membership who
are driversWAR AND RIOT
    
    
    
    Excluded
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ADDENDUM 4
 RANDGOLD RESOURCES CHIEF FINANCIAL OFFICER SHORT-TERM
INCENTIVE PLAN   BONUS SCHEME
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Graham P Shuttleworth (CFO) PERFORMANCE BONUS 2010 PROPOSED CALCULATION FOR CONSIDERATION BY
REMCOM
  
    
    ANNUAL GROUP FINANCIAL PERFORMANCE  Earnings per share (EPS);
    
    COST CONTROL  Cash costs per ounce controlled below targeted annual level;
    
    ACHIEVEMENT OF INDIVIDUAL STRATEGIC OUTPUTS AGREED AT ANNUAL STRATEGIC PLAN
  CALCULATION OF RAW SCORES EXPLAINED
  1.
    
    ANNUAL GROUP FINANCIAL PERFORMANCE  Earnings per share (EPS):
  Actual 2010 (a)
    
    Planned 2010 (b)RAW SCORE = US$ (a) cents
    
    US$ (b) cents = b/a = c X 100Ficticious ExampleRaw score = US$ 100 cents
    
    US$ 100cents = 100/100 =1x 100% =100%
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2.
    
    COST CONTROL  Group cash operating costs per ounce (US$) controlled below targeted annual
level 31 December 2009 and 31 December 2010
  USING GROUP CASH OPERATING COSTS PER OUNCECalculation of Raw Score(a) End 2009 CASH COST PER OUNCE(b) END 2010 CASH COST PER OUNCE( c ) Divide b/a = [(b) / (a) x 100] =Raw Score
  
 3.
    
    PERSONAL OBJECTIVES  ACHIEVEMENT OF STRATEGY
   Calculation Result
    
    RAW SCORE100%
    
    136%90%
    
    124%80%
    
    112%70%
    
    100%57%
    
    80%56 >
    
    0%
 Ficticious score: Calculation result 80%
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Raw Score = 112%CONVERSION OF RAW SCORES TO BONUS PERCENTAGESThe scale shown below was used to convert Raw Scores to Bonus Percentages. It should be
noted that percentage increments increase as the performance level improves in such a way
that between 80% and 90%, the increment is a mere 1%, whereas the increment between 130%
and 140% is 5.5%.This arrangement of progressively increasing increments with increases in performance
level, rewards good performance and enables the maximum bonus level of 300% to be achieved
at a 140% Raw Score level of performance. This level (140% Raw Score) represents what could be described as a brilliant
performance, fully worthy of the payment of 300% bonus.
 Raw Percentage
    
    Percent Increment
    
    
    Bonus Percentage0-79%
    
    
    0
    %
    
    
    0
    %80-90%
    
    
    1
    %
    
    
    120-130
    %90-100%
    
    
    2
    %
    
    
    130-150
    %100-110%
    
    
    2.5
    %
    
    
    150-175
    %110-120%
    
    
    3.5
    %
    
    
    175-210
    %120-130%
    
    
    4.5
    %
    
    
    210-255
    %130-140%
    
    
    5.5
    %
    
    
    255-300
    %140% +
    
    Not Applicable
    
    300% maximum
 25




---



##### 



Annual Bonus Scorecard
 Performance range *Category
    
    Measure
    
    
    Actual Raw / 3
    
    
    Weighted Raw /3
    
    
    Actual Bonus / 3Financial
    
    EPS
    
    
    100
    %
    
    
    33.333Costs
    
    Cost per ounce
    
    
    100
    %
    
    
    33.333Personal objectives
    
    (See table below)
    
    
    112
    %
    
    
    37SCORE
    
    
    104
    %
    
    
    
    
    
    
    160
    %
 EXAMPLE: Ficticious Calculation: 160% of US$ 330,212
   26