Document:

Exhibit 10.1

AMENDMENT

TO THE

2006 STOCK INCENTIVE PLAN

OF

HONEYWELL INTERNATIONAL INC. AND ITS AFFILIATES

(Amended and Restated as of January 1, 2009)

 

Pursuant
    to the authority granted to proper officers of Honeywell International Inc.
    (the “Company”) by the Management Development and Compensation
    Committee of the Board of Directors on February 11, 2011, the 2006 Stock
    Incentive Plan of Honeywell International Inc. and Its Affiliates (Amended
and Restated as of January 1, 2009) is hereby amended effective February 11,
    2011 by replacing Section 7.3 in its entirety with the following new Section
7.3:

 

“7.3 Forfeiture Provisions. The Committee
may, in its discretion, provide in an Award Agreement terms and conditions that could result in the forfeiture of all or part of
an Award, including but not limited to, terms and conditions that relate to non-competition, non-solicitation of customers and/or
employees and/or confidentiality of Company information.

 

Notwithstanding
    anything in this Plan to the contrary, each Participant acknowledges that
    the Company may be entitled or required by law, Company policy, the requirements
    of an exchange on which the Shares are listed for trading or the terms of
    an Award Agreement, to recoup all or part of the compensation paid to the
    Participant pursuant to this Plan, and each Participant agrees to comply
with any Company request or demand for recoupment.”

 

 

HONEYWELL INTERNATIONAL INC.

 

 

/s/ Mark James

Mark James

Senior Vice President – Human Resources and

Communications

 

 

Dated: April 14,
  2011Exhibit 10.1

Exhibit 10.1

Deed

Settlement and release deed

Timothy Netscher

Newmont Mining Services Pty Ltd

 

 

 

Contents

Table of contents

	 	 	 	 	 
	1 Definitions and interpretation
	 	 	2	 
	 
	 	 	 	 
	1.1 Definitions
	 	 	2	 
	1.2 Interpretation
	 	 	3	 
	 
	 	 	 	 
	2 Agreement between the parties
	 	 	3	 
	 
	 	 	 	 
	2.1 Settlement Terms
	 	 	3	 
	2.2 Settlement Sum
	 	 	4	 
	2.3 Additional benefits
	 	 	4	 
	2.4 No further payments
	 	 	5	 
	2.5 Compliance and approvals
	 	 	5	 
	2.6 Taxation
	 	 	5	 
	 
	 	 	 	 
	3 Release and indemnity
	 	 	6	 
	 
	 	 	 	 
	4 Confidentiality
	 	 	6	 
	 
	 	 	 	 
	5 Breach of deed
	 	 	6	 
	 
	 	 	 	 
	6 Bar to further proceedings
	 	 	6	 
	 
	 	 	 	 
	7 Other
	 	 	6	 
	 
	 	 	 	 
	8 General
	 	 	7	 
	 
	 	 	 	 
	Signing page
	 	 	8	 

Settlement and release deed     Contents 1

 

 

 

Settlement and release deed

Date ► March 2011

Between the parties

	 	 	 	 	 	 	 
	Employee	 	Timothy Netscher
	 	 	of 12 Rossello Lane, Subiaco, WA 6008
	 	 	(Mr Netscher)
	 
	 	 	 	 	 	 
	Employer	 	Newmont Mining Services Pty Ltd
	 	 	ACN 008 087 778 of Level 1 388 Hay Street Subiaco WA 6008
	 	 	(Newmont Mining)
	 
	 	 	 	 	 	 
	Recitals

	 	1	 	 	 	Mr Netscher commenced Employment within the Newmont
Group on May 18, 2009.
	 
	 	 	 	 	 	 
	 

	 	2	 	 	 	Mr Netscher and Newmont Mining have agreed that Mr
Netscher’s employment with Newmont Mining will cease on
March 31, 2011.
	 
	 	 	 	 	 	 
	 

	 	3	 	 	 	Mr Netscher has agreed that he will resign as a
director of any company within the Newmont Group, and
will also resign as a director or officer of Newmont
Australia Pty Ltd, PT Newmont Pacific Nusantara, Newmont
Indonesia Investment Limited, Newmont Mining Corporation,
Newmont Ventures Limited, PT Newmont Minahasa Raya and PT
Newmont Nusa Tenggara with effect from the End Date.
	 
	 	 	 	 	 	 
	 

	 	4	 	 	 	The parties have agreed to settle all matters between
them on the terms contained in this deed.

Settlement and release deed     page 1

 

 

 

This deed witnesses as follows:

	1	 	Definitions and interpretation
	 
	1.1	 	Definitions

The meanings of the terms used in this deed are set out below.

	 	 	 	 	 	 	 
	Term	 	Meaning
	 
	 	 	 	 	 	 
	Cessation of
Employment	 	all of the circumstances relating to or connected with the
cessation of the Employment, including negotiations relating to
the terms and conditions upon which that event would occur.
	 
	 	 	 	 	 	 
	Claims	 	all actions, claims, demands, suits, proceedings, liabilities,
sums of money, damages and costs arising, whether directly or
indirectly, from:
	 
	 	 	 	 	 	 
	 

	 	1	 	 	 	the Employment;
	 
	 	 	 	 	 	 
	 

	 	2	 	 	 	the Cessation of Employment;
	 
	 	 	 	 	 	 
	 

	 	3	 	 	 	the Employment Agreement;
	 
	 	 	 	 	 	 
	 

	 	4	 	 	 	Mr Netscher’s resignation as a director of any company within
the Newmont Group and director or officer of Newmont Australia
Pty Ltd, PT Newmont Pacific Nusantara, Newmont Indonesia
Investment Limited, Newmont Mining Corporation, Newmont Ventures
Limited, PT Newmont Minahasa Raya and PT Newmont Nusa Tenggara;
and
	 
	 	 	 	 	 	 
	 

	 	5	 	 	 	any act or omission of Newmont Mining or the Newmont Group
during the Employment

	 
	 
	 	but does not include such actions, claims, demands, suits,
proceedings, liabilities, sums of money, damages and costs
arising under any applicable workers’ compensation legislation.
	 
	Corporations Act	 	Corporations Act 2001 (Cth).
	 
	 	 	 	 	 	 
	Employment	 	Mr Netscher’s employment by Newmont Mining or its Related Bodies
Corporate including negotiations with Mr Netscher or any other
person relating to the terms and conditions on which that
employment would take place.
	 
	 	 	 	 	 	 
	Employment Agreement	 	the agreement between Mr Netscher and Newmont Mining dated April
2, 2009 and any other contract, arrangement or understanding
which governs, or has governed, any of the terms and conditions
of the Employment.
	 
	 	 	 	 	 	 
	End Date	 	31 March 2011

Settlement and release deed     page 2

 

 

 

2     Agreement between the parties

	 	 	 	 	 	 	 
	Term	 	Meaning
	 
	 	 
	Newmont Group

	 	Newmont Mining, all Related Bodies Corporate of Newmont Mining,
and all directors, officers, trustees, agents, contractors and
employees of Newmont Mining and Related Bodies Corporate of
Newmont Mining, jointly and severally.
	 
	 	 
	Related Bodies 

Corporate

	 	has the meaning given to it in section 50 of the Corporations Act.
	 
	 	 
	Resignation

	 	all of the circumstances relating to or connected with Mr
Netscher’s resignation as a director of any company within or
associated with the Newmont Group, including negotiations
relating to the terms and conditions upon which that event would
occur.

	1.2	 	Interpretation
	 
	 	 	In this deed:

	 	(a)	 	Headings and bold type are for convenience only and do not affect the interpretation of
this deed.

	 	(b)	 	The singular includes the plural and the plural includes the singular.

	 	(c)	 	Words of any gender include all genders.

	 	(d)	 	Other parts of speech and grammatical forms of a word or phrase defined in this deed have a
corresponding meaning.

	 	(e)	 	An expression importing a person includes any company, partnership, joint venture,
association, corporation or other body corporate and any Government Agency as well as an
individual.

	 	(f)	 	A reference to a clause, party, schedule, attachment or exhibit is a reference to a clause
of, and a party, schedule, attachment or exhibit to, this deed.

	 	(g)	 	A reference to any legislation includes all delegated legislation made under it and
amendments, consolidations, replacements or re enactments of any of them.

	 	(h)	 	A reference to a party to a document includes that party’s successors and permitted
assignees.

	 	(i)	 	A promise on the part of 2 or more persons binds them jointly and severally.

	 	(j)	 	No provision of this deed will be construed adversely to a party because that party was
responsible for the preparation of this deed or that provision.

	2	 	Agreement between the parties

	2.1	 	Settlement Terms

	 	(a)	 	Mr Netscher agrees that:

	 	(1)	 	his Employment will cease with effect from the End Date;

Settlement and release deed     page 3

 

 

 

2     Agreement between the parties

	 	(2)	 	he will resign as a director of any company within or associated with the
Newmont Group with effect from the End Date; and

	 	(3)	 	he irrevocably appoints Jeffrey Reeser as his attorney to do all acts and
things required to be done by Mr Netscher to resign as a director of any company
within or associated with the Newmont Group under clause 2.1(a)(2) of this deed and
resign as director or officer of any additional Newmont entity named in clause 3 of
the Recitals.

	 	(b)	 	Up to the End Date, Mr Netscher will remain subject to the lawful and reasonable directions
of the Newmont Group.

	 	(c)	 	Employer will ensure that after the End Date, Mr Netscher will remain covered by the
Employer’s director’s and officer’s liability insurance policies for his acts and omissions
as a director and/or officer of any entities covered by Employer’s director and officer
liability insurance policies, including his role as the Employer’s appointee as a director of
the Minerals Council of Australia.

	2.2	 	Settlement Sum

	 	(a)	 	Subject to Mr Netscher’s compliance with his obligations in clause 2.1 of this deed,
Newmont Mining will pay to Mr Netscher the following amounts less taxation deductions
required by law:

	 	(1)	 	base salary payments, superannuation payments and health and welfare
benefits until the End Date;

	 	(2)	 	payment in lieu of 9 months’ notice being $508,030 AUS;

	 	(3)	 	payment in lieu of accrued but untaken annual leave of $46,504 AUS; and

	 	 	 	together referred to as the Settlement Sum.
	 
	 	(b)	 	The Settlement Sum will be paid on the End Date, provided that Mr Netscher has returned to
Newmont Mining by March 4, 2011:

	 	(1)	 	a copy of this deed executed by Mr Netscher; and

	 	(2)	 	a resignation letter signed by Mr Netscher which confirms his decision to
resign as a director of any company within or associated with the Newmont Group with
immediate effect.

	2.3	 	Additional benefits

	 	(a)	 	In addition to the Settlement Sum, and subject to clause 2.2(b) of this deed, Mr Netscher
will be entitled to receive the following benefits:

	 	(1)	 	annual incentive compensation program payout for 2010 to be paid in early
March 2011;

	 	(2)	 	pro-rata annual incentive compensation program cash bonus at target
payout for 2011;

	 	(3)	 	accelerated vesting of financial performance shares granted prior to 31
March 2011 on Cessation of Employment, including but not limited to financial
performance shares granted in 2011; and

	 	(4)	 	grant of actual performance leveraged stock unit payout for one-year 2010 performance
year only (explicitly excluding performance leveraged stock units for performance periods
of 2010 through 2011 and 2010 through 2012), to be paid according to Newmont Mining
Corporation Board approval.
	 
	 	 	 	together referred to as the Additional Benefits.

Settlement and release deed     page 4

 

 

 

3     Release and indemnity

	 	(b)	 	Except as set out in clause 2.3(a) above, Mr Netscher has no further rights or entitlements
to any incentive compensation, performance leveraged stock bonus or stock options previously
granted to him, and those options cancel and stock units are forfeited immediately on
Cessation of Employment. Mr. Netscher shall have no right or entitlement to any stock option
grant in 2011.

	 	(c)	 	Newmont Mining shall reimburse Mr. Netscher for the cost to ship personal items from Perth
to Brisbane and for the cost of airfare from Perth to Brisbane for Mr. Netscher and his
spouse. Mr Netscher has a maximum of 12 months to exercise relocation. Alternatively, the
parties can agree to make a taxable cash payment representing the cost of the relocation to
Mr Netscher.

	 	(d)	 	In relation to Mr Netscher’s house in Perth, the company agrees to either pay a real
estate agent or provide a taxable payment to Mr Netscher representing the cost of the
standard Western Australia real estate agent’s fee for the sale of Mr Netscher’s residence
in Perth, located at 12 Rossello Lane, Subiaco, WA 6008 (“Perth Residence”). The parties
agree to establish the agent’s fee represented as a percentage of the Perth Residence. For
this purpose, Mr Netscher’s residence in Perth will be valued by a registered Western
Australia real estate valuation agent, at Employer’s cost. Alternatively, the parties can
agree to make a taxable cash payment representing the real estate agent fee to Mr Netscher.

	 	(e)	 	The company agrees to pay 12 months of MBF medical insurance premium from April 1 2011.

	2.4	 	No further payments

Mr Netscher acknowledges that the payment of the Settlement Sum and Additional Benefits under this
deed are paid in full satisfaction of all obligations of the Newmont Group towards Mr Netscher and
are made without any admission of liability by the Newmont Group.

	2.5	 	Compliance and approvals

The exercise of, or compliance with, any discretion, right or obligation under this deed is subject
to any required board or shareholder approvals, any necessary regulatory consent and compliance
with the Constitution, and all applicable laws.

	2.6	 	Taxation

	 	(a)	 	Mr Netscher acknowledges that:

	 	(1)	 	tax will be withheld from the Settlement Sum and the Additional Benefits;
and

	 	(2)	 	the amount of tax withheld may not represent the total tax payable on
assessment.

	 	(b)	 	The Newmont Group makes no representations or warranties in relation to Mr Netscher’s tax
liability.

	 	(c)	 	If Newmont Mining withholds tax from the Settlement Sum and the Additional Benefits, and
the Australian Taxation Office determines that a greater amount of tax should have been
withheld, Mr Netscher indemnifies and keeps indemnified the Newmont Group in respect of the
difference.

Settlement and release deed     page 5

 

 

 

3     Release and indemnity

	3	 	Release and indemnity

Mr Netscher:

	 	(a)	 	unconditionally releases the Newmont Group from all Claims he has now or may have had in
the future against the Newmont Group if the parties had not executed this deed;

	 	(b)	 	must not make, take or institute any Claims against the Newmont Group; and

	 	(c)	 	indemnifies and must keep indemnified the Newmont Group in relation to any loss or damage
suffered by it as a result of any Claims by Mr Netscher.

	4	 	Confidentiality

After the End Date, and without limiting Mr Netscher’s general law or contractual
obligations, Mr Netscher must maintain the secrecy of, and not disclose, Confidential
Information shall mean any confidential legal, financial, marketing, business, technical,
or other information, including specifically but not exclusively, information which Mr.
Netscher prepared, caused to be prepared, or received in connection with Mr. Netscher’s
employment with Newmont Mining, such as management and business plans, business
strategies, software, software evaluations, trade secrets, personnel information,
marketing methods and techniques, and any of the above-recited information as it relates
to Newmont Mining or any affiliate. Confidential Information does not include: (i)
information or knowledge which may subsequently come into the public domain after the End
Date other than by way of unauthorized disclosure by Mr. Netscher; or (ii) information or
knowledge which Mr. Netscher is required to disclose by order of a governmental agency or
court after timely notice has been provided to Newmont Mining of such order.

	5	 	Breach of deed

If Mr Netscher breaches any of his obligations under this deed, he must repay the
Settlement Sum and the Additional Benefits to Newmont Mining on demand.

	6	 	Bar to further proceedings

The Newmont Group may plead this deed as a bar to any claim or proceeding by Mr Netscher
in respect of any matters arising out of, touching on, referred to or contained in this
deed.

	7	 	[Other]

On or before the End Date, unless otherwise agreed on or before the End Date, Mr Netscher
shall return to Newmont Mining all Newmont Property. Newmont Property shall include, but
not be limited to, keys, access cards, files, memoranda, reports, software, credit cards,
computer disks, instructional and management manuals, books, cellular phones, blackberries
and computer equipment of Newmont Mining.

Settlement and release deed     page 6

 

 

 

8     General

	8	 	General

	 	(a)	 	Mr Netscher executes this deed for the benefit of each member of the
Newmont Group. Mr Netscher acknowledges and agrees that each member of the Newmont
Group may independently rely on and enforce this deed against Mr Netscher.

	 	(b)	 	Mr Netscher acknowledges that he has entered into this deed voluntarily
and without any duress from any party and has had the opportunity to obtain legal
advice.

	 	(c)	 	Mr Netscher is aware of and understands the consequences of entering into
this deed, including the consequences of providing the release and indemnity in
clause 3.

	 	(d)	 	Except as set out in this document, the Newmont Group has not made any
promises, representations or inducements to Mr Netscher to enter into this deed.

	 	(e)	 	This deed is governed by the laws of Western Australia and the parties
submit to the non-exclusive jurisdiction of the courts of Western Australia.

	 	(f)	 	This deed states all the express terms of agreement between the parties
in respect of its subject matter. It supersedes all prior discussions, negotiations,
understandings and agreements in respect of its subject matter.

	 	(g)	 	Each party must pay its own legal costs and expenses in respect of the
negotiation, preparation and completion of this deed.

	 	(h)	 	Every clause and subclause will where the context permits be severable
from every other.

	 	(i)	 	This deed may be executed in any number of counterparts and all counterparts, taken together,
constitute one instrument. A party may execute this deed by executing any
counterpart.

Settlement
and release deed     page 7

 

 

 

Signing page

	 	 	 	 	 
	 

	 	Executed as a deed	 	 
	 
	 	 	 	 
	 

	 	Employee	 	 
	 
	 	 	 	 
	 

	 	Signed by

Timothy Netscher	 	 
	 
	 	 	 	 
	sign here ►

	 	/s/ Timothy Netscher
 

	 	 
	 
	 	 	 	 
	print name

	 	Timothy Netscher
 

	 	 
	 
	 	 	 	 
	 

	 	in the presence of	 	 
	 
	 	 	 	 
	sign here ►

	 	/s/ Elizabeth Barton-Jones
 

Witness
	 	 
	 
	 	 	 	 
	print name

	 	Elizabeth Barton-Jones
 

	 	 
	 
	 	 	 	 
	 

	 	Newmont Mining	 	 
	 
	 	 	 	 
	 

	 	Executed as a deed on behalf of

Newmont Mining Services Pty Ltd

ACN 008 087 778

In accordance with section 127 of the Corporations Act 2001 (Cth) by:	 	 
	 
	 	 	 	 
	sign here ►

	 	/s/ Rubini Ventouras
 

Signature of Director
	 	 
	 
	 	 	 	 
	print name

	 	Rubini Ventouras
 

	 	 
	 
	 	 	 	 
	sign here ►

	 	/s/ Richard Jones
 

Signature of Director/Secretary
	 	 
	 
	 	 	 	 
	print name

	 	Richard Jones	 	 

Settlement
and release deed     page 8

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