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Exhibit 10.15
FREEPORT-McMoRan INC.
DIRECTOR COMPENSATION
(as of February 2, 2021)

Cash Compensation

Each non-management director will receive, as applicable:

•an annual fee of $125,000 for serving on the Board;
•an annual fee of $25,000 for serving as Chair of the Audit Committee, $20,000 for serving as Chair of the Compensation Committee and $15,000 for serving as Chair of any other principal committee of the Board (Corporate Responsibility and Governance); and 
•an annual fee of $100,000 for serving as Lead Independent Director.

Each director also receives reimbursement for reasonable out-of-pocket expenses incurred in attending board and committee meetings.

Equity-Based Compensation

Non-management directors currently receive annual equity awards payable solely in restricted stock units, or RSUs, with the number of RSUs granted determined by dividing $170,000 by the closing sale price of our common stock on June 1st, the grant date, or the previous trading day if no sales occur on that date, and rounding down to the nearest hundred shares. The RSUs vest in one installment on the first anniversary of the grant date. Each RSU entitles the director to receive one share of our common stock upon vesting. Dividend equivalents are accrued on the RSUs on the same basis as dividends are paid on our common stock and include market rate interest. The dividend equivalents are only paid upon vesting of the RSUs. In addition, in connection with an initial election to the board other than at an annual meeting, a director may receive a pro rata equity grant.

Stock Purchase Elections; Deferrals

Non-management directors may elect to exchange all or a portion of their annual fee for an equivalent number of shares of our common stock on the payment date, based on the fair market value of our common stock on the date preceding the payment date. 

Non-management directors may elect to defer all or a portion of their annual fee, and such deferred amounts will accrue interest at a rate equal to the prime commercial lending rate announced from time to time by JPMorgan Chase (compounded quarterly), and shall be paid out at such time or times as directed by the director.  Non-management directors may also elect to defer receipt of their vested RSUs.

Frozen and Terminated Retirement Plan

We previously adopted a retirement plan for the benefit of certain of our non-management directors who reach age 65. In April 2008, the Board amended the plan to freeze the maximum annual benefit at $40,000, except as provided below, and to terminate the plan for future directors. Under the retirement plan, an eligible director will be entitled to an annual benefit up to a maximum of $40,000, depending on the number of years the retiree served as a non-management director for us or our predecessors. The benefit is payable from the date of retirement until the retiree’s death. Each eligible director who was also a director of our former parent and who did not retire from that board of directors, will receive upon retirement from our board an additional annual benefit of $20,000, which is also payable from the date of retirement until the retiree’s death. This additional benefit is not subject to the $40,000 maximum annual benefit described above.Document

Exhibit 10.26

FREEPORT-MCMORAN INC.
2005 SUPPLEMENTAL EXECUTIVE CAPITAL ACCUMULATION PLAN

AMENDMENT ONE
WHEREAS, Freeport-McMoRan Inc. (“Company”) maintains the Freeport-McMoRan Inc. 2005 Supplemental Executive Capital Accumulation Plan, amended and restated effective January 1, 2015 (the “Plan”);
WHEREAS, the Board of Directors, in its meeting on December 4, 2014, delegated to the ECAP Administration and Investment Committee the authority to approve the merger of plans and plan amendments, that it deems necessary or desirable, provided that such merger or amendment does not result in a substantial increase in the estimated annual cost to the Company and its affiliates;
WHEREAS, pursuant to Section 10.04 of the Plan, the Board or its delegate, has the authority to amend the Plan;
WHEREAS, the Company desires to amend the Plan to (a) revise compensation definitions to clarify a bonus type, and (b) make other clarifications and revisions;
NOW, THEREFORE, the Plan is amended, effective January 1, 2016, unless stated otherwise, to read as follows:
I.
Paragraph (b), SECAP Enhanced Compensation, of Section 1.01, Compensation, is amended and restated to read as follows:
(b)    SECAP Enhanced Compensation means regular salary or wages actually paid by a Participating Company to a Participant, and which would have been payable to him or her but for his or her Employee Pre-tax Contributions, Catch-up Contributions, and contributions to Code Section 125 plans during the year, and any transportation fringe benefits under Code Section 132(f)(4), plus Differential Wage Payments as defined under Code Section 3401(h), shift differentials, back pay awards, and fifty percent (50%) of all overtime and bonuses (including performance based special awards, PBA Performance Awards, annual incentive bonuses paid under the Annual Incentive Program or the Performance Incentive Awards Program, whether received in cash or restricted stock units, year-end discretionary bonuses to non-exempt employees, and single payment merit awards) and excluding, without limitation, completion, copper and sign-on bonuses, stock-based incentive compensation (except as noted above), fringe benefits, (including any awards of gift cards or similar payments), reimbursements, overseas premiums, tax equalization payments, living and other allowances, and contributions to a plan of deferred compensation (e.g. SECAP) which are not included in the Participant’s gross income for the taxable year in which contributed. 

II.
The second paragraph of (a) Basic Credits Deferral Election, of Section 3.00, Deferral Election, is amended and restated to read as follows:
For 2016, the Code Section 401(a)(17) limit is $265,000, the Code Section 402(g) limit is $18,000 and the Code Section 414(v) limit is $6,000.  The Internal Revenue Service may adjust each limit annually for cost-of-living increases.
III.
The last paragraph (a) Basic Credits Deferral Election, of Section 3.00, Deferral Election, is amended and restated to read as follows:
The amount of allowable deferral pursuant to the Participants election shall be a minimum of one percent (1%), and in increments of at least one percent (1%), but not to exceed twenty percent (20%) of the Basic Compensation.  Further, the elected deferral must be the same percentage as the Employee’s Elective Contribution in the ECAP.

Executed in Phoenix, Arizona, this 21st day of December, 2015.

															
	Freeport-McMoRan Inc.	
					
					
					
	/s/ Douglas N. Currault II		
	Douglas N. Currault II, Secretary		
					

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Exhibit 10.27

FREEPORT-MCMORAN INC.
2005 SUPPLEMENTAL EXECUTIVE CAPITAL ACCUMULATION PLAN

AMENDMENT TWO

WHEREAS, Freeport-McMoRan Inc. (“Company”) maintains the Freeport-McMoRan Inc. 2005 Supplemental Executive Capital Accumulation Plan (“SECAP”), amended and restated effective January 1, 2015 (the “Plan”);
WHEREAS, the Board of Directors, in its meeting on November 4, 2014, delegated to the ECAP Administration and Investment Committee (“Committee”) the authority to approve the merger of plans and plan amendments, that it deems necessary or desirable, provided that such merger or amendment does not result in a substantial increase in the estimated annual cost to the Company and its affiliates;
WHEREAS, the Bipartisan Budget Act of 2018 repealed the previously required six month suspension of elective deferrals from qualified and non-qualified plans after a participant received a hardship distribution from the qualified retirement plan;
WHEREAS, on April 16, 2020, due to the coronavirus pandemic and its significant impact on the global economy, the Committee suspended all employer contributions to the SECAP effective June 1, 2020.
WHEREAS, the Committee desires to amend the Plan to (a) suspend all employer contributions, (b) allow the Company to make an additional Company Matching Contribution Credit in the event a Participant’s company matching contribution in the Freeport-McMoRan Inc. Employee Capital Accumulation Program (“ECAP”) is reduced due to the shortened safe harbor plan year and prorated compensation dollar limit under Code Section 401(a)(17), (c) remove the statement that a deferral election will be canceled when a participant receives a hardship distribution from the ECAP, and (c) clarify the termination provision;
NOW, THEREFORE, the Plan is amended, effective as stated, to read as follows:
I.
The following is added to Section 2.00 Eligible Employee for Basic and Matching Contribution, to read as follows:
An Employee will automatically become eligible for a Company Matching Contribution Credit described in Section 4.00 if, in Plan Year 2020, such Employee is required to forfeit a Company Matching Contribution in the ECAP due to the application of a prorated compensation dollar limit under Code Section 401(a)(17).
II. 
The second paragraph of (a) Basic Credits Deferral Election, of Section 3.00, Deferral Election, is amended and restated to read as follows:
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For 2020, the Code Section 401(a)(17) limit is $285,000, the Code Section 402(g) limit is $19,500 and the Code Section 414(v) limit is $6,500. The Internal Revenue Service may adjust each limit annually for cost-of-living increases.
III.
Effective January 1, 2019, the second and third sentences in the first subparagraph of Paragraph (b), Irrevocable Election, of Section 3.00, Deferral Election regarding when a Participant’s deferral election is canceled to receive an ECAP hardship distribution are deleted and the remaining first paragraph is combined with the second paragraph.
IV.
The following is added at the end of paragraph (a) of Section 4.00, SECAP Company Matching Contribution Credit, to read as follows:
For Plan Year 2020, the SECAP Company Matching Contribution Credits are suspended effective June 1, 2020. 
V. 
The following is added as a second paragraph under paragraph (b) of Section 4.00, SECAP Company Matching Contribution Credit, to read as follows:
For Plan Year 2020, if a Participant’s Company Matching Contribution Credits are less than the amount he or she would have received had the contribution been based upon Basic Compensation through May 31, 2020 in excess of the annual compensation limit under Code Section 401(a)(17), a “true-up” Company Matching Contribution Credit will be made. 
For Plan Year 2020, if a Participant is required to forfeit any Company Matching Contribution (as defined in Section 4.01 of ECAP) due to the application of a prorated compensation dollar limit under Code Section 401(a)(17) with respect to the Participant’s Basic Compensation, the amount equal to the difference between the Company Matching Contribution determined based on the full annual compensation dollar limit under Code Section 401(a)(17) and the Company Matching Contribution determined based on a prorated compensation dollar limit under Code Section 401(a)(17) shall be credited to such Participant’s Company Matching Contribution Credits Account in the SECAP.
VI.
The following is added at the end of paragraph (a) of Section 4.01, SECAP Enhanced Company Contribution Credits, to read as follows:
Notwithstanding, in determining the SECAP Enhanced Company Contribution Credit for Plan Year 2020, SECAP Enhanced Compensation in excess of the Code Section 401(a)(17) dollar amount through May 31, 2020 will be taken into account.
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VII.
Paragraph (c) of Section 10.04, Amendment and Termination, is amended and restated, effective June 22, 2016, to read as follows:
The Company may in its discretion terminate this Plan, provided, (i) the termination and liquidation does not occur proximate to a downturn in the financial health of the Employer; (ii) all arrangements sponsored by the Employer that would be aggregated with any terminated arrangement under Section 1.409A-1(c) of the Treasury Regulations as if there were one service provider that had deferrals of compensation under every arrangement sponsored by the service recipient are terminated (for example, all elective account balance plans that the Employer sponsors); (iii) no payments other than payments that would be payable under the terms of the arrangements if the termination had not occurred are made within 12 months of the termination of the arrangements; (iv) all payments are made within 24 months of the termination of the arrangements; and (v) for a period of three years following the date of termination of the arrangement, the Employer does not adopt a new arrangement of the same category as the terminated and liquidated plan, regardless of which service providers participate in the plan.
Executed in Phoenix, Arizona, this 28th day of May, 2020.
															
	Freeport-McMoRan Inc.	
					
					
					
	/s/ Douglas N. Currault II		
	Douglas N. Currault II, Senior Vice President and General Counsel
	

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