Document:

Ex_101

		

			 

		

		
			Exhibit 10.1
		

		
			 
		

		
			 
		

		
			 
		

		
			NEWMONT 
SENIOR EXECUTIVE COMPENSATION PROGRAM

		

		
			(Effective January 1, 2018)
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			NEWMONT 
senior executive compensation program
		

		
			(Effective January 1, 2018)
		

		
			PURPOSE
		

		
			This Senior Executive Compensation Program includes the Restricted Stock Unit Bonus program, Performance Leveraged Stock Bonus program and the Personal Bonus for the eligible Employees.  This program is a restatement of the Senior Executive Compensation Program effective on January 1, 2017.  The purpose of the Restricted Stock Unit Bonus program and the Performance Leveraged Stock Bonus program is to provide eligible Employees a direct interest in the success of the operations of Newmont Mining.  The purpose of the Personal Bonus is to provide eligible Employees additional incentive to meet strategic objectives.  The eligible Employees will be rewarded in accordance with the terms and conditions described below.
		

		
			This program is intended to be a program described in Department of Labor Regulation Sections 2510.3‐1(b) and 2510.3-2(c) and shall not be considered a plan subject to the Employee Retirement Income Security Act of 1974, as amended.
		

		
			I.        DEFINITIONS
		

		
			The capitalized terms used in this compensation program shall have the same meaning as the capitalized terms in the Section 16 Officer and Senior Executive Annual Incentive Compensation Program (“AICP”), unless otherwise defined or stated herein.  The following terms used in this compensation program shall have the meanings set forth below
		

		
			1.1        “Absolute Total Shareholder Return” means; (a)  the average closing price of Common Stock for the 30 trading days, excluding the final 5 trading days for administrative purposes, on the New York Stock Exchange of the Extended Performance Period, minus (b)  the share price used to determine the Target Performance Leveraged Stock Unit Award, plus dividends paid in the Extended Performance period, divided by (c)  the share price used to determine the Target Performance Leveraged Stock Unit Award.  The Leadership Development and Compensation Committee retains authority to make adjustments for extraordinary events affecting the calculations.
		

		
			1.2        “Cause” means   a) engagement in illegal conduct or gross negligence or willful misconduct, provided that if the Employee acted in accordance with an authorized written opinion of Newmont’s, or an affiliated entity’s, legal counsel, such action will not constitute “Cause;” b) any dishonest or fraudulent activity by the Employee or the reasonable belief by Newmont or an affiliated entity of the Employee’s breach of any contract, agreement or representation with the Newmont or an affiliated entity, or c) violation, or Newmont or an affiliated entities’ belief of Employee’s violation of Newmont Mining Corporation’s Code of Conduct and underlying policies and standards.
		

		
			1.3        “Change of Control Price” means the price per share of Common Stock offered to a holder thereof in conjunction with any transaction resulting in a Change of Control on a fully-diluted basis (as determined by the Leadership Development and Compensation Committee as constituted before the Change of Control, if any part of the offered price is payable other than in cash), or, in the case of a Change of Control occurring solely by reason of a change in the composition of the Board, the highest Fair Market Value of a share of Common Stock on any of the 30 trading days immediately preceding the date on which such Change of Control occurs.
		

		
			1.4        “Common Stock” means the $1.60 par value common stock of Newmont Mining.
		

		
			

		 

		

			2

		

 

		

		
			1.5        “Extended Performance Period” means the time frame between the beginning and ending average closing prices (generally deemed to be three years with adjustments for administrative purposes) over which the Leadership Development and Compensation Committee will calculate and determine the Performance Leveraged Stock Bonus.
		

		
			1.6        “Fair Market Value” has the meaning given such term in the 2013 Stock Incentive Compensation Plan.
		

		
			1.7        “Performance Leveraged Stock Bonus” means the bonus payable to an eligible Employee in the form of Common Stock under this compensation program with respect to an Extended Performance Period (or portion thereof as provided in Section 4.4) and is calculated as described in Section 4.2.    
		

		
			1.8        “Performance Period” means the calendar year over which the Leadership Development and Compensation Committee will calculate and determine the Personal Bonus and the Restricted Stock Unit Bonus.  
		

		
			1.9        “Performance Stock” means the right to receive from Newmont Mining Common Stock or restricted stock units under terms and conditions defined in a restricted stock unit or other award agreement, as determined by the Leadership Development and Compensation Committee.  
		

		
			1.10        “Relative Total Shareholder Return” means Newmont Mining’s total shareholder return, defined as the change in the closing price of a share of Common Stock, with cash dividends paid,  between the share price used to determine the Target Performance Leveraged Stock Unit Award and the average closing price of Common Stock for the 30 trading days, excluding the final 5 trading days, on the New York Stock Exchange of the Extended Performance Period; as compared to the total shareholder return, with cash dividends paid, of an index of peer companies selected and determined by the Leadership Development and Compensation Committee.  The Leadership Development and Compensation Committee retains authority to make adjustments for extraordinary events affecting the calculations.
		

		
			1.11        “Personal Bonus”  means the cash bonus payable to an eligible Employee based on the individual contribution of such eligible Employee to achievement of the Corporation’s strategic objectives during the Performance Period, as set forth in Section 5.1 (or portion thereof as provided in Section 5.2).
		

		
			1.12        “Restricted Stock Unit Bonus” means the bonus payable to an eligible Employee in the form of restricted stock units under this compensation program annually (or portion of a year as provided in Section 3.2), which shall be determined by dividing the eligible Employee’s Target Restricted Stock Unit Bonus by Fair Market Value, on the date of grant of the Restricted Stock Unit Bonus.  The restricted stock units granted as a Restricted Stock Unit Bonus shall have terms and conditions, and shall be subject to such restrictions as defined by the Leadership Development and Compensation Committee.
		

		
			1.13        “Retirement” means at least age 55, and, at least 5 years of continuous employment with Newmont Mining and/or an Affiliated Entity, and, a total of at least 65 when adding age plus years of employment. This definition differs from the definition of retirement in other benefits plans, such as pension plans of Newmont, and shall not alter those definitions.  
		

		
			1.14        “Target Performance Leveraged Stock Bonus” means the number of shares of Common Stock equivalent to the percentage of base salary (for calculation purposes, base salary shall be the applicable base salary of the Employee as of March 1 (or the effective date of the annual merit compensation process if different than March 1) for the year in which the target number of shares is calculated) set by the Leadership Development and Compensation Committee which is set forth in Appendix C,  using the average closing price of Common Stock for the 25 trading days on the New York Stock Exchange prior to the grant date of the Target Performance Leverage Stock Unit Bonus.    For the Chief Executive Officer, the Target Performance Leveraged Stock Unit 

		 

		

			3

		

 

Bonus means the number of shares of Common Stock equivalent to the dollar value, versus percentage of base salary, set forth in Appendix C.
		

		
			1.15        “Target Restricted Stock Unit Bonus” means the percentage of base salary (for calculation purposes, base salary shall be the applicable base salary of the Employee as of March 1 (or the effective date of the annual merit compensation process if different than March 1) for the year in which the target number of shares is calculated) set by the Leadership Development and Compensation Committee which is set forth in Appendix A.  For the Chief Executive Officer, the Target Restricted Stock Unit Bonus means the dollar value set forth in Appendix A.
		

		
			1.16        “Terminated Eligible Employee” for purposes of the Performance Leveraged Stock Bonus, means executive grade level Employee of a Participating Employer at grade level E-4 or above during the relevant Extended Performance Period,  who terminates employment with Newmont Mining and/or a Participating Employer as provided in Section 4.4.  “Terminated Eligible Employee” for purposes of the Personal Bonus shall have the same meaning as in the AICP.  
		

		
			1.17        “2013 Stock Incentive Compensation Plan” means the Newmont Mining Corporation 2013 Stock Incentive Compensation Plan (or any successor plan), as amended from time to time.
		

		
			 
		

		
			II.       ELIGIBILITY
		

		
			All executive grade level Employees of a Participating Employer at grade level E-4 or above,  are eligible to receive a Performance Leveraged Stock Bonus and Personal Bonus under this compensation program, provided (i) they are on the payroll of a Participating Employer as of the last day of the relevant Performance Period for the Personal Bonus or Extended Performance Period for the Performance Leveraged Stock Bonus, and at the time the award is vested, or (ii) they are a Terminated Eligible Employee with respect to such Performance Period for the Personal Bonus, or Extended Performance Period for the Performance Leveraged Stock Bonus.  All executive grade level Employees of a Participating Employer at grade level E-4 or above are eligible to receive a Restricted Stock Unit Bonus under this compensation program, provided they are on the payroll of a Participating Employer at the time the award is granted.  Eligible Employees who are on short‐term disability under the Short‐Term Disability Plan of Newmont, or a successor plan, or not working because of a work‐related injury as of the last day of the Performance Period for Personal Bonus, or Extended Performance Period for the Performance Leveraged Stock Bonus, but are still on the payroll of a Participating Employer shall be eligible to receive a Performance Leveraged Stock Bonus and Personal Bonus.  Notwithstanding the foregoing provisions of this Section II, the Leadership Development and Compensation Committee may, prior to the end of any Performance Period, or Extended Performance Period for the Performance Leveraged Stock Bonus, exclude from or include in eligibility for participation under this compensation program with respect to such Performance Period, or Extended Performance Period for the Performance Leveraged Stock Bonus, any executive grade level Employee of a Participating Employer.
		

			
	
			
				 
			

			
	
			
			III.       RESTRICTED STOCK UNIT BONUS

		
			3.1        Determination of Restricted Stock Unit Bonus—In General.  The Restricted Stock Unit Bonus shall be calculated by the Leadership Development and Compensation Committee as soon as reasonably practicable following the Performance Period.  Following such determination, grant of the Restricted Stock Unit Bonus shall be made to eligible Employees as soon as reasonably practicable, in accordance with Sections 3.3 below.
		

		
			

		 

		

			4

		

 

		

		
			3.2        Separation of Employment and Payment of Restricted Stock Unit Bonus.  An eligible Employee shall not be entitled to payment of a Restricted Stock Unit Bonus as a result of any separation of employment, voluntary or involuntary except as provided in Section 6.2 below.  
		

		
			3.3        Form of Payment.  The amount of Restricted Stock Unit Bonus payable under this compensation program shall be paid in restricted stock units (payable in whole units only rounded down to the nearest share).  The restricted stock units shall have a three year vesting period, with one‐third of the restricted stock units vesting each year on the anniversary of the date of grant, all subject to the terms of the applicable award agreement.  
		

			
	
			
				 
			

			
	
			
			IV.     PERFORMANCE LEVERAGED STOCK BONUS

		
			4.1        Determination of Performance Leveraged Stock—In General.  The Performance Leveraged Stock Bonus shall be calculated as soon as reasonably practicable after the Leadership Development and Compensation Committee determines the Performance Leveraged Stock Bonus Payout Factor as described in Section 4.3 below.  Following such determination, payment of the Performance Leveraged Stock Bonus shall be made to eligible Employees as soon as reasonably practicable, in accordance with Section 4.5 below.
		

		
			4.2        Calculation of Performance Leveraged Stock Bonus.  The Performance Leveraged Stock Bonus equals the Target Performance Leveraged Stock Bonus times the percentage dictated by the Performance Leveraged Stock Bonus Payout Factor and corresponding schedule in Appendix C.  
		

		
			4.3        Calculation of the Performance Leveraged Stock Bonus Payout Factor.  The Performance Leveraged Stock Bonus Payout Factor will be calculated by determining the Relative Total Shareholder Return and the corresponding percentage payout based on the schedule adopted by the Leadership Development and Compensation Committee, attached hereto in Appendix C.  In the event that Absolute Total Shareholder Return over the Extended Performance Period is negative, the Performance Leveraged Stock Bonus Payout Factor shall be capped at 100%.  Additionally, the total value maximum of any calculated Performance Leveraged Stock Unit Bonus shall not exceed four times the dollar value of the Target Performance Leveraged Stock Unit Bonus.  In the event, this maximum amount is exceeded, the Performance Leveraged Stock Unit Bonus shall be reduced to a number of shares equaling four times the dollar value of the Target Performance Leveraged Stock Unit Bonus divided by the average closing price of Common Stock for the 30 trading days, excluding the final 5 trading days, on the New York Stock Exchange of the Extended Performance Period, rounded down to the nearest share.   
		

		
			4.4        Separation of Employment and Payment of Performance Leveraged Stock Bonus.  Unless otherwise stated in this Section 4.4, an eligible Employee shall not be entitled to payment of a Performance Leveraged Stock Bonus on or after any separation of employment, voluntary or involuntary. In the event an eligible Employee separates employment from a Participating Employer prior to payment of the Performance Leveraged Stock Bonus, for which the Employee has already received a notice of grant and award agreement, as a result of: (a) Retirement, (b) death,  (c) termination of employment entitling Employee to benefits under the Executive Severance Plan of Newmont, or separation benefits for any involuntary termination, other than for Cause, for Employees not eligible for benefits under the Severance Plan of Newmont or the Executive Severance Plan of Newmont, or (d) circumstances entitling eligible Employee to long-term disability benefits of the Company, such eligible Employee is a Terminated Eligible Employee and shall receive a Performance Leveraged Stock Bonus calculated separately to the most recent fiscal quarter end for each of the outstanding awards, with each separate award pro-rated based on the time he or she was actually employed by a Participating Employer during the Extended Performance Period.
		

		
			4.5        Form of Payment.  The amount of Performance Leveraged Stock Bonus payable under this compensation program shall be paid in Common Stock (payable in whole shares only rounded down to the nearest share).    Upon the payment of the Performance Leveraged Stock Bonus in Common Stock, an eligible Employee 

		 

		

			5

		

 

shall also be entitled to a cash payment equal to any dividends paid with respect to the Common Stock delivered for the Performance Leveraged Stock Bonus for the Extended Performance Period, minus any applicable taxes.  
		

		
			4.6        Timing of Payment.    Except as otherwise provided in section Section 4.4 above, payment of the Performance Leveraged Stock Bonus will be made as soon as reasonably practicable during the calendar year following the Extended Performance Period to which such Performance Leveraged Stock Bonus relates.
		

		
			4.7        Performance Leveraged Stock Bonus for Newly Hired or Newly Promoted eligible Employees.  In the event an individual is hired as an eligible Employee, or promoted into an eligible Employee position, such eligible Employee may be eligible for payment of a pro-rated Performance Leveraged Stock Bonus, as determined in the sole discretion of the Company or the Leadership Development and Compensation Committee for Section 16 Officers, at each date of payment of a Performance Leveraged Stock Bonus after the date of hire or after the date of promotion.
		

		
			V.      PERSONAL BONUS
		

		
			5.1        Determination of Personal Bonus—In General. At the end of each Performance Period, the Leadership Development and Compensation Committee will evaluate Section 16 Officer eligible Employees’ performance against relevant strategic objectives and award a Personal Bonus, up to the maximum amounts listed in Appendix B. The Leadership Development and Compensation Committee will seek the input of the Chief Executive Officer on the Personal Bonuses to be awarded to eligible Section 16 Officers Employees.  At the end of each Performance Period, the designated supervisor of a non-Section 16 Officer eligible Employee will evaluate the non-Section 16 Officer eligible Employee’s performance against relevant strategic objectives and award a Personal Bonus, up to the maximum amounts listed in Appendix B. Following such determination, payment of the Personal Bonus shall be made to eligible Employees as soon as reasonably practicable following the end of the applicable Performance Period, provided that such payment shall be made no later than the 15th day of the third month following the Performance Period to which such Personal Bonus relates.
		

		
			5.2        Separation of Employment and Payment of Personal Bonus.  In the event an eligible Employee separates employment from a Participating Employer and is a Terminated Eligible Employee, the Personal Bonus shall be paid at 50% of the maximum level shown on Appendix B (with the exception that the calculation shall be based upon current rate of base salary, rather than eligible earnings), pro-rated for the time of employment during the Performance Period, and shall be paid as soon as practicable.  However, in the event that a Terminated Eligible Employee separates employment at the beginning of a calendar year before the bonus is paid for the prior calendar year, the Terminated Eligible Employee shall receive the actual payout according to Section V of this program, at the same time as all other actual payouts are delivered according to this program. If an eligible Employee is terminated between January 1 and March 31 of any calendar year, and entitled to benefits under the Severance Plan of Newmont or the Executive Severance Plan of Newmont, Employee shall not qualify for any bonus under this program for the period of January 1 to March 31 for the calendar year of the termination.  If an eligible Employee is not a Terminated Eligible Employee, eligible Employee shall not be entitled to payment of a Personal Bonus on or after any separation of employment, voluntary or involuntary.
		

		
			VI.      CHANGE OF CONTROL
		

		
			6.1        Personal Bonus.  Upon  a Change of Control (as defined in the AICP), each eligible Employee employed as of the date of the Change of Control,  shall become entitled to the payment of 50% of the maximum Personal Bonus if a Change of Control occurs between September 1 and December 31.  If a Change of Control occurs between January 1 and August 31 each eligible Employee employed as of the date of the Change of Control, shall become entitled to the payment of 50% of the maximum Personal Bonus pro-rated for partial service during the Performance Period.  The bonus payable in accordance with the provisions of this Section 6.1 shall be 

		 

		

			6

		

 

calculated and paid as soon as practicable following the date of the Change of Control.  Such payment shall be subject to the withholding of such amounts as Newmont Mining or a Participating Employer may determine is required to be withheld pursuant to any applicable federal, state or local law or regulation.  Upon the completion of such payment, eligible Employees shall have no further right to the payment of any bonus hereunder (other than any bonus payable hereunder with respect to a previous calendar year that has not yet been paid).  Payment of a bonus under this section along with any corporate bonus payable in the event of a Change of Control under the Newmont Section 16 Officer and Senior Executive Annual Incentive Compensation Program shall fully satisfy Section 3.02(a)(i)(B) of the 2012 Executive Change of Control Plan of Newmont and Section 3.02(a)(i)(B) of the Executive Change of Control Plan of Newmont and no further payments under Section 3.02(a)(i)(B) 2012 Executive Change of Control Plan or 3.02(a)(i)(B) of the Executive Change of Control Plan of Newmont shall be due.
		

		
			6.2        Restricted Stock Unit Bonus. In the event of a Change of Control (as defined in the AICP) each Restricted Stock Unit Bonus for the current year shall immediately be granted at target level in the form of a restricted stock unit award vesting 1/3 on January 1 of the year immediately following the year in which the Change of Control occurred, and another 1/3 on each of the following two January 1 anniversaries.  The restricted stock unit award agreement shall provide for immediate vesting of all outstanding restricted stock units upon a termination of employment entitling the grantee to benefits under the applicable Executive Change of Control Plan of Newmont.
		

		
			6.3        Performance Leveraged Stock Bonus.  In the event of a Change of Control (as defined in the Newmont Annual Incentive Compensation Program), each eligible Employee or a Terminated Eligible Employee who terminated employment on account of Retirement (all other Terminated Eligible Employees who terminated employment prior to the Change of Control shall be excluded), shall become entitled to the payment of a Performance Leveraged Stock Bonus for an Extended Performance Period.  The Performance Leveraged Stock Bonus shall be calculated in the manner stated in Section 4.2 above, with the exception that (i) the Extended Performance Period shall be deemed to end on the date of the Change of Control, (ii) the Change of Control Price shall be substituted for the average closing price of Common Stock for the fourth quarter of the last calendar year of the Extended Performance Period for purposes of section 4.3(a)(i) above, and (iii) the TSR Payout Factor will be based on Relative Total Shareholder Return utilizing the Change of Control Price as the final closing price of a share of Common Stock.  The Performance Leveraged Stock Bonus shall be paid out as follows: (A) the percentage of the Performance Leveraged Stock Bonus equal to the percentage of the Extended Performance Period that elapsed up to the Change of Control shall be paid in a number of shares of common stock of the acquiring or resulting corporation or any parent or subsidiary thereof or that may be issuable by another corporation that is a party to the transaction resulting in such Change of Control received in such transaction by holders of Common Stock (such common stock, “Acquirer Stock”) equal to (x) the number of shares of Acquirer Stock received by such a holder for each share of Common Stock held by such holder in such transaction multiplied by (y) the number of shares of Common Stock subject to such percentage of the Performance Leveraged Stock Bonus, or (B) if Acquirer Stock is not issued in connection with such transaction, cash in an amount equal to the Change of Control Price multiplied by the number of shares of Common Stock subject to such percentage of the Performance Leveraged Stock Bonus, within 5 days following the date of the Change of Control (provided,  however, that if such Change of Control does not constitute a change in the ownership or effective control of Newmont Mining or of a substantial portion of the assets of Newmont Mining, pursuant to Treasury Regulations Section 1.409A-3(i)(5) (a “409A CoC”), such percentage of the Performance Leveraged Stock Bonus shall be so paid when the Performance Leveraged Stock Bonus would otherwise have been paid in accordance with Article IV), and b) the percentage of the Performance Leveraged Stock Bonus equal to the percentage of the Extended Performance Period that did not elapse prior to the Change of Control shall be paid in the form of (A) restricted stock units covering a number of shares of Acquirer Stock equal to (x) the number of shares of Acquirer Stock received by a holder of Common Stock for each share of Common Stock held by such holder in such transaction multiplied by (y) the number of shares of Common Stock subject to such percentage 

		 

		

			7

		

 

of the Performance Leveraged Stock Bonus, that will have a vesting period equal to the Extended Performance Period otherwise remaining as of the date of the Change of Control, or (B) if Acquirer Stock is not issued in connection with such transaction, a deferred compensation arrangement with a balance initially equal to the Change of Control Price multiplied by the number of shares of Common Stock subject to such percentage of the Performance Leveraged Stock Bonus, that will have a vesting period equal to the Extended Performance Period otherwise remaining as of the date of the Change of Control and a value from time to time as if such initial balance were invested in such deemed investment as the Leadership Development and Compensation Committee as constituted before the Change of Control shall determine in its discretion.  The portion of the Performance Leveraged Stock Bonus described in clause (b) of the preceding sentence shall vest upon any termination of employment of the eligible Employee with a Participating Employer prior to the expiration of the vesting period, with the exception of voluntary termination or termination for Cause, as defined in Newmont Mining’s Executive Change of Control Plan.  Such portion shall be paid in cash within 5 days following vesting; provided,  however, that if such Change of Control does not constitute a 409A CoC, such portion, to the extent vested in accordance with this sentence, shall be so paid when they would otherwise have been paid in accordance with Article IV.
		

		
			VII.     GENERAL PROVISIONS
		

		
			7.1        Administration. This compensation program shall be administered by the Leadership Development and Compensation Committee or its delegee.  All actions by Newmont Mining under this program shall be taken by the Leadership Development and Compensation Committee or its delegee.  The Leadership Development and Compensation Committee shall interpret the provisions of this program in its full and absolute discretion.  All determinations and actions of the Leadership Development and Compensation Committee with respect to this program shall be taken or made in its full and absolute discretion in accordance with the terms of this program and shall be final, binding and conclusive on all persons.
		

		
			7.2        Plan Unfunded. This compensation program shall be unfunded and no trust or other funding mechanism shall be established for this program. All benefits to be paid pursuant to this program shall be paid by Newmont Mining or another Participating Employer from its respective general assets, and an eligible Employee or Terminated Eligible Employee (or his or her heir or devisee) shall not have any greater rights than a general, unsecured creditor against Newmont Mining or another Participating Employer, as applicable, for any amounts payable hereunder.
		

		
			 
		

		
			7.3        Amount Payable Upon Death of Employee.  If an eligible Employee who is entitled to payment hereunder dies after becoming eligible for payment but before receiving full payment of the amount due, or if an eligible Employee dies and becomes a Terminated Eligible Employee, all amounts due shall be paid as soon as practicable after the death of such eligible Employee or Terminated Eligible Employee to the beneficiary or beneficiaries designated by such eligible Employee or Terminated Eligible Employee to receive life insurance proceeds under Newmont Mining’s life insurance plan. In the absence of an effective beneficiary designation under such plan, any amount payable hereunder following the death of such eligible Employee or Terminated Eligible Employee shall be paid to his or her estate.
		

		
			 
		

		
			7.4        Reimbursement.    The Leadership Development and Compensation Committee, to the full extent permitted by governing law, shall have the discretion to require reimbursement of any portion of a Performance Leveraged Stock Bonus previously paid to an eligible Employee pursuant to the terms of this compensation program if: a) the amount of such Performance Leveraged Stock Bonus was calculated based upon the achievement of certain financial results that were subsequently the subject of a restatement, and b) the amount of such Performance Leveraged Stock Bonus that would have been awarded to the eligible Employee had the financial results been reported as in the restatement would have been lower than the Performance Leveraged Stock Bonus actually awarded.  The approach used to determine the amount of reimbursement will be based on 

		 

		

			8

		

 

commonly used valuation methodologies or those as supported or validated by an independent third party with expertise in related matters.  Additionally, the Leadership Development and Compensation Committee, to the full extent permitted by governing law, shall have the discretion to require reimbursement of any portion of a Restricted Stock Unit Bonus,  Performance Leveraged Stock Bonus and Personal Bonus previously paid to an eligible Employee pursuant to the terms of this compensation program if the eligible employee is terminated for Cause. 
		

		
			7.5        Withholding Taxes.  All bonuses payable hereunder shall be subject to the withholding of such amounts as Newmont Mining or a Participating Employer may determine is required to be withheld pursuant to any applicable federal, state or local law or regulation.  The Leadership Development and Compensation Committee may, in its sole discretion, permit eligible Employees to satisfy withholding applicable to the portion of the bonus payable in shares of Common Stock or Performance Stock by causing Newmont Mining to withhold or sell the appropriate number of shares of Common Stock or Performance Stock from the bonus otherwise payable and to make the requisite withholding payments on behalf of the eligible Employee.
		

		
			7.6        Issuance of Stock.  Shares of Common Stock and Performance Stock issued under this compensation program may be issued pursuant to the provisions of any stock plan of Newmont Mining or as otherwise determined in the sole discretion of the Leadership Development and Compensation Committee.    All awards under this compensation program that consist of Common Stock or that are valued in whole or in part by reference to, or are otherwise based on, Common Stock, shall be treated as made under the 2013 Stock Incentive Plan as well as this compensation program and thereby subject to the applicable terms and conditions of the 2013 Stock Incentive Compensation Plan.
		

		
			7.7        General Operation and Amendment.  Notwithstanding anything contained in this compensation program to the contrary, this compensation program shall be administered and operated in accordance with any applicable laws and regulations including but not limited to laws affecting the timing of payment of any bonus under this compensation program.  
		

		
			7.8        Right of Offset.  To the extent permitted by applicable law, Newmont Mining or a Participating Employer may, in its sole discretion, apply any bonus payments otherwise due and payable under this compensation program against debts of an eligible Employee to Newmont Mining or an Affiliated Entity.  By accepting payments under this compensation program, all eligible Employees shall consent to the reduction of any compensation paid to the eligible Employee by Newmont Mining or an Affiliated Entity to the extent the eligible Employee receives an overpayment from this compensation program.
		

		
			7.9        Termination and Amendment.    The Board may at any time amend, modify, suspend or terminate this compensation program; provided, however, that the Leadership Development and Compensation Committee may, consistent with its administrative powers, waive or adjust provisions of this compensation program as it determines necessary from time to time.    The Leadership Development and Compensation Committee may amend the terms of any award theretofore granted hereunder, but no such amendment shall be inconsistent with the terms and conditions of this compensation program or materially impair the previously accrued rights of the eligible Employee to whom such award was granted with respect to such award without his or her consent, except such an amendment made to cause this program or such award to comply with applicable law, tax rules, stock exchange rules or accounting rules.
		

		
			7.10        Severability.  If any section, subsection or specific provision is found to be illegal or invalid for any reason, such illegality or invalidity shall not affect the remaining provisions of this compensation program, and this compensation program shall be construed and enforced as if such illegal and invalid provision had never been set forth in this compensation program.
		

		
			

		 

		

			9

		

 

		

		
			7.11        No Right to Employment.  The establishment of this compensation program shall not be deemed to confer upon any eligible Employee any legal right to be employed by, or to be retained in the employ of, Newmont Mining, a Participating Employer or any Affiliated Entity, or to give any eligible Employee any right to receive any payment whatsoever, except as provided under this compensation program.  All eligible Employees shall remain subject to discharge from employment to the same extent as if this compensation program had never been adopted.
		

		
			7.12        Transferability.  Any bonus payable hereunder is personal to the eligible Employee and may not be sold, exchanged, transferred, pledged, assigned or otherwise disposed of except by will or by the laws of descent and distribution.
		

		
			7.13        Successors.  This compensation program shall be binding upon and inure to the benefit of Newmont Mining and eligible Employees and their respective heirs, representatives and successors.
		

		
			7.14        Governing Law.  This compensation program and all agreements hereunder shall be construed in accordance with and governed by the laws of the State of Colorado, unless superseded by federal law.
		

		
			7.15        Section 409A.  It is the intention of Newmont Mining that awards and payments under this compensation program comply with or be exempt from Section 409A of the Code and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”), and Newmont Mining shall have complete discretion to interpret and construe this program and any related plan or agreement in any manner that establishes an exemption from (or compliance with) the requirements of Code Section 409A.  If for any reason, such as imprecision in drafting, any provision of this program and/or any such plan or agreement does not accurately reflect its intended establishment of an exemption from (or compliance with) Code Section 409A, as demonstrated by consistent interpretations or other evidence of intent, such provision shall be considered ambiguous as to its exemption from (or compliance with) Code Section 409A and shall be interpreted by Newmont Mining in a manner consistent with such intent, as determined in the discretion of Newmont Mining.  None of Newmont Mining nor any other Participating Employer shall be liable to any eligible Employee or any other person (i) if any provisions of this program do not satisfy an exemption from, or the conditions of, Code Section 409A, or (ii) as to any tax consequence expected, but not realized, by any eligible Employee or other person due to the receipt or payment of any award under this program.
		

		
			
		

		
			

		 

		

			10

		

 

		

		
			Appendix A
		

		
			Target Restricted Stock Unit Bonus
		

			
					
						 

					
					
						 

				
	
					
						Grade

					
					
						Dollars for CEO

				
	
					
						E‐1

					
					
						$2,383,333

				
	
					
						 

					
					
						Percentage of Base Salary for E3-E4

				
	
					
						E-3 Executive Vice President, and Chief Operating Officer

					
					
						116.7%

				
	
					
						E‐3  Executive Vice President and Chief Financial Officer 

					
					
						116.7%

				
	
					
						E-3 Executive Vice President Strategic Development

					
					
						100%

				
	
					
						E-3 All Other 

					
					
						90%

				
	
					
						E‐4

					
					
						55%

				

		
			 
		

		
			
		

		
			

		 

		

			11

		

 

		

		
			Appendix B
		

		
			Maximum Personal Bonuses
		

			
					
						 

					
					
						 

				
	
					
						Pay Grade

					
					
						Maximum Personal Bonus as a
Percentage of Base Salary (which
constitutes the Eligible
Earnings for
the year as defined in the AICP)

				
	
					
						E-1

					
					
						90%

				
	
					
						E-3 Executive Vice President and Chief Operating Officer

					
					
						75%

				
	
					
						E-3 Executive Vice President and Chief Financial Officer 

					
					
						60%

				
	
					
						E-3 Executive Vice President Strategic Development

					
					
						54%

				
	
					
						E-3 All Other

					
					
						51%

				
	
					
						E-4

					
					
						45%

				

		
			 
		

		
			
		

		
			

		 

		

			12

		

 

		

		
			Appendix C
		

		
			Target Performance Leveraged Stock Bonus
		

			
					
						 

					
					
						 

				
	
					
						Grade

					
					
						Dollars for CEO

				
	
					
						E‐1

					
					
						$4,766,667

				
	
					
						 

					
					
						Percentage of Base Salary for E3-E4

				
	
					
						E-3 Executive Vice President and Chief Operating Officer

					
					
						233.3%

				
	
					
						E‐3    Executive Vice President and Chief Financial Officer 

					
					
						233.3%

				
	
					
						E‐3    Executive Vice President Strategic Development

					
					
						200%

				
	
					
						E-3 All Other

					
					
						180%

				
	
					
						E‐4

					
					
						110%

				

		
			 
		

		
			Performance Leveraged Stock Bonus Payout Factor Schedule:
		

		
			 
		

		
			
		

		
			 
		

		 

		

			13Ex_102

		
			Exhibit 10.2
		

		
			 
		

		
			 
		

		
			 
		

		
			NEWMONT 
SECTION 16 OFFICER AND SENIOR EXECUTIVE ANNUAL INCENTIVE 
COMPENSATION PROGRAM

		

		
			(Effective January 1, 2018)
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			 
		

		
			NEWMONT
SECTION 16 OFFICER AND SENIOR EXECUTIVE ANNUAL INCENTIVE 
COMPENSATION PROGRAM
		

		
			(Effective January 1, 2018)
		

		
			PURPOSE
		

		
			This Section 16 Officer and Senior Executive Annual Incentive Compensation Program includes the Corporate Performance Bonus program.  This program is a restatement of the Section 16 Officer and Senior Executive Annual Incentive Compensation Program effective on January 1, 2017.  The purpose of the Corporate Performance Bonus program is to provide to those employees of Newmont Mining and its' Affiliated Entities that participate in this program a more direct interest in the success of the operations of Newmont Mining.  Employees of Newmont Mining and participating Affiliated Entities will be rewarded in accordance with the terms and conditions described below.
		

		
			This program is intended to be a program described in Department of Labor Regulation Sections 2510.3‐1(b) and 2510.3-2(c) and shall not be considered a plan subject to the Employee Retirement Income Security Act of 1974, as amended.
		

			
	
			
				 
			

			
	
			
			SECTION I-DEFINITIONS

		
			1.1       “Affiliated Entity(ies)”  means any corporation or other entity, now or hereafter formed, that is or shall become affiliated with Newmont Mining Corporation (“Newmont Mining”), either directly or indirectly, through stock ownership or control, and which is (a) included in the controlled group of corporations (within the meaning of Code Section 1563(a) without regard to Code Section 1563(a)(4) and Code Section 1563(e)(3)(C)) in which Newmont Mining is also included and (b) included in the group of entities (whether or not incorporated) under common control (within the meaning of Code Section 414(c)) in which Newmont Mining is also included. 
		

		
			1.2        “Board”  means the Board of Directors of Newmont Mining or its delegate.
		

		
			1.3        “Bonus Eligible Earnings”  means the total base salary and regular earnings (collectively, “regular earnings”) of the Employee during the calendar year.  If an Employee is absent from work because of a work‐related injury, the Employee’s “Bonus Eligible Earnings” will be determined by his or her actual gross base earnings during the calendar year.  In the case of a Terminated Eligible Employee who is Disabled, “Bonus Eligible Earnings” will be determined by his or her actual gross base earnings, including short‐term disability pay received during the calendar year, but excluding pay from any other source.  If an Employee dies during the calendar year, the “Bonus Eligible Earnings” for such Terminated Eligible Employee will be determined by his or her actual gross base earnings.  If an Employee is on active military duty during a calendar year, the “Bonus Eligible Earnings” will be determined by his or her actual gross base earnings during the calendar year, exclusive of any government military pay.  If an Employee does not receive a W‐2, his or her “Bonus Eligible Earnings” shall be determined on the basis of his or her actual gross base earnings for the calendar year, or portion thereof, as shown on the payroll records of Newmont Mining or the Participating Employer.  In all cases, an Employee’s “Bonus Eligible Earnings” shall be computed before reduction for pre‐tax contributions to an employee benefit plan of Newmont Mining pursuant to Section 401(k) or Section 125 of the Code.  In the event of a Change of Control, the Bonus Eligible Earnings of each eligible Employee shall be equal to such Employee’s base salary, on an annualized basis, as of the date immediately preceding the Change of Control and, in the case of a 

		 

		

			2

		

 

Terminated Eligible Employee, such Employee’s base salary for the calendar year through the date of termination of employment.
		

		
			1.4        “Change of Control” means the occurrence of any of the following events:
		

		
			(i)        The acquisition in one or a series of transactions by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d‐3 promulgated under the Exchange Act) of 20% or more of either (x) the then outstanding shares of common stock of Newmont Mining (the “Outstanding Company Common Stock”) or (y) the combined voting power of the then outstanding voting securities of Newmont Mining entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change of Control:  (A) any acquisition directly from Newmont Mining other than an acquisition by virtue of the exercise of a conversion privilege, unless the security being so converted was itself acquired directly from Newmont Mining, (B) any acquisition by Newmont Mining, (C) any acquisition by any employee benefits plan (or related trust) sponsored or maintained by Newmont Mining or any corporation controlled by Newmont Mining or (D) any acquisition by any corporation pursuant to a transaction which complies with clauses (A), (B) and (C) of paragraph (iii) below; or
		

		
			(ii)        Individuals who, as of the Effective Date, constitute the Board of Directors of Newmont Mining (“Incumbent Board”) cease for any reason to constitute at least a majority of the Board of Directors of Newmont Mining; provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by Newmont Mining’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors of Newmont Mining; or
		

		
			(iii)        Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of Newmont Mining or an acquisition of assets of another entity (a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors (or for a non-corporate entity, equivalent governing body), as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity which as a result of such transaction owns Newmont Mining or all or substantially all of Newmont Mining’s assets either directly or through one or more subsidiaries (a “Parent Company”)) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (B) no person or entity (excluding Newmont Mining, any entity resulting from such Business Combination, any employee benefit plan (or related trust) of Newmont Mining or its Affiliate or any entity resulting from such Business Combination or, if reference was made to equity ownership of any Parent Company for purposes of determining whether clause (A) above is satisfied in connection with the applicable Business Combination, such Parent Company) beneficially owns, directly or indirectly, 20% or more of, 

		 

		

			3

		

 

respectively, the then outstanding shares of common stock (or, for a non-corporate entity, equivalent securities of the entity) resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such entity entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body) of the entity, unless such ownership resulted solely from ownership of securities of Newmont Mining, prior to the Business Combination and (C) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination (or, if reference was made to equity ownership of any Parent Company for purposes of determining whether clause (A) above is satisfied in connection with the applicable Business Combination, of the Parent Company) were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board of Directors of Newmont Mining, providing for such Business Combination; or
		

		
			(iv)        Approval by the stockholders of Newmont Mining of a complete liquidation or dissolution of Newmont Mining.
		

		
			1.5        “Code”  means the Internal Revenue Code of 1986, as amended from time to time.
		

		
			1.6        “Leadership Development and Compensation Committee”  means the Leadership Development and Compensation Committee of the Board of Directors of Newmont Mining.    
		

		
			1.7        “Corporate Performance Bonus”  means the bonus payable to an Employee pursuant to Section III.
		

		
			1.8        “Disability”  means a condition such that the salaried Employee has terminated employment with Newmont Mining or Affiliated Entities with a disability and has begun receiving benefits from the Long Term Disability Plan of Newmont Mining (or Affiliated Entity) or a successor plan.
		

		
			1.9        “EBITDA” means annual approved AICP adjusted attributable EBITDA for the Performance Period, as adjusted for gold price, copper price, fuel and exchange rates, one-time accounting adjustments or other items as approved by the Board, compared to actual adjusted attributable EBITDA. For eligible Employees grade levels E1, E2 or E3, “EBITDA” means annual approved AICP adjusted attributable EBITDA Per Share for the Performance Period, as adjusted for gold price, copper price, fuel and exchange rates, one-time accounting adjustments or other items as approved by the Board, compared to actual adjusted attributable EBITDA Per Share. Actual results for EBITDA Per Share will be adjusted for any corporate approved share buy-backs that occur during the year.
		

		
			1.10        “Economic Performance Driver” means EBITDA, Project Cost and Execution, Reserve and Resource Additions, Return on Capital Employed, Safety, Sustainability and  Cash Sustaining Costs.
		

		
			1.11        “Employee”  means an employee of Newmont Mining or an Affiliated Entity who satisfies the conditions for this program and who is not (a) an individual who performs services for Newmont Mining or an Affiliated Entity under an agreement, contract or arrangement (which may be written or oral) between the employer and the individual or with any other organization that provides the services of the individual to the Employer pursuant to which the individual is initially classified or treated as an independent contractor or whose remuneration for services has not been treated initially as subject to the withholding of federal income tax pursuant to Code § 3401, or who is otherwise treated as an employee of an entity other than Newmont Mining or an Affiliated Entity, irrespective of whether he or she is treated as an employee of Newmont Mining or an Affiliated Entity under common‐law employment principles or pursuant to the provisions of Code § 414(m), 414(n) or 414(o), even if the individual is subsequently reclassified as a common‐law employee as a result of a final decree of a court of competent jurisdiction, the settlement of an administrative or judicial proceeding or a determination by the Internal Revenue Service, the Department of the Treasury or the Department of Labor, (b) an individual 

		 

		

			4

		

 

who is a leased employee, (c) a temporary employee, or (d) an individual covered by a collective bargaining agreement unless otherwise provided for in such agreement.
		

		
			1.12        “Newmont Mining” or “Newmont”  means Newmont Mining Corporation.
		

		
			1.13        “Participating Employer”  means Newmont Mining and any Affiliated Entity.
		

		
			1.14        “Pay Grade”  means those jobs sharing a common salary range, as designated by the Board or its delegate.
		

		
			1.15        “Project Cost and Execution”  means Newmont Mining’s performance against project cost,  schedule and project decision milestones as determined by the Board and adjusted from time to time as approved by the Board.
		

		
			1.16        “Reserve and Resource Additions” means annual gold reserve and resource additions measured against target annual reserve and resource additions, and as adjusted from time to time as approved by the Board.    For eligible Employees grade levels E1, E2 or E3, “Reserve and Resource Additions” means annual gold reserve and resource additions per share, measured against target annual reserve and resource additions per share, and as adjusted from time to time as approved by the Board. Actual results for Reserve and Resource Additions per share will be adjusted for any corporate approved share buy-backs that occur during the year.
		

		
			1.17        “Retirement” means at least age 55, and, at least 5 years of continuous employment with Newmont Mining and/or an Affiliated Entity, and, a total of at least 65 when adding age plus years of employment.
		

		
			1.18        “Return on Capital Employed” means annual approved AICP adjusted attributable Return on Capital Employed for the Performance Period, as adjusted for gold price, copper price, fuel and exchange rates, one-time accounting adjustments or other items as approved by the Board, compared to actual adjusted attributable ROCE earnings before interest and tax divided by average capital employed.
		

		
			1.19        “Safety” means leading and lagging safety metrics measured against target annual leading and lagging safety metrics, as adjusted from time to time as approved by the Board.
		

		
			1.20        “Sustainability” means selected leading and lagging sustainability metrics measured against target selected annual leading and lagging sustainability metrics, as adjusted from time to time as approved by the Board.
		

		
			1.21        “Section 16 Officer” means an officer as defined in Section 16(b) of the Securities Exchange Act of 1934.
		

		
			1.22        “Terminated Eligible Employee” means an eligible Employee employed in a position located in Colorado or any Employee in an Executive grade level position who terminates employment with Newmont Mining and/or a Participating Employer during the calendar year on account of death, Retirement, Disability or involuntary termination entitling the Employee to benefits under the Executive Severance Plan of Newmont.  However, if an eligible Employee is terminated between January 1 and March 31 of any calendar year, and entitled to benefits under the Executive Severance Plan of Newmont, Employee shall not qualify for any bonus under this program for the period of January 1 to March 31 for the calendar year of the termination.
		

		
			1.23         “Cash Sustaining Costs” means cash sustaining costs on a consolidated basis and measured on a per gold equivalent ounce basis, as adjusted for gold price, copper price, fuel and exchange rates, one-time accounting adjustments or other items as approved by the Board, and subject to metric adjustments provided with 

		 

		

			5

		

 

the performance targets as approved by the Leadership Development and Compensation Committee of the Board of Directors.  
		

			
	
			
				 
			

			
	
			
			SECTION II-ELIGIBILITY

		
			All Employees of a Participating Employer who participate in the Senior Executive Compensation Program of Newmont and Section 16 Officers in grade level E-5 not participating in the Senior Executive Compensation Program of Newmont are potentially eligible to receive a bonus payment under the Corporate Performance Bonus program, provided (i) they are on the payroll of a Participating Employer as of the last day of the calendar year, and on the payroll of a Participating Employer at the time of payment, or (ii) they are a Terminated Eligible Employee with respect to such calendar year.
		

		
			SECTION III-CORPORATE PERFORMANCE BONUS
		

		
			3.1       Eligibility for Corporate Performance Bonus.  For the calendar year, the Corporate Performance Bonus will be determined pursuant to this section for each eligible Employee. For the calendar year, the performance bonus for each eligible Employee who is not assigned to the corporate office or at a non‐site location will have certain regional performance factors weighted into the Corporate Performance Bonus as stated in Appendix B. Each operating site shall develop its own critical performance indicators for this purpose.
		

		
			3.2       Target Amounts for Economic Performance Drivers.  The Leadership Development and Compensation Committee shall establish both the targets and the minimum and maximum amounts for each Economic Performance Driver on an annual basis. 
		

		
			3.3       Actual Performance for Economic Performance Drivers.  As soon as possible after the end of each calendar year, the Leadership Development and Compensation Committee shall certify the extent to which actual performance met the target amounts for each Economic Performance Driver, following a report from the Internal Audit department.
		

		
			3.4       Aggregate Payout Percentage.  An aggregate payout factor (the “Aggregate Payout Percentage”) will be calculated based upon the funding schedule as approved by the Leadership Development and Compensation Committee.
		

		
			(a)        Calculating the Performance Percentage for each Economic Performance Driver.  For each Economic Performance Driver, actual performance will be compared to the target, minimum and maximum amounts to arrive at a performance percentage (“Performance Percentage”).  
		

		
			(b)        Calculating the Payout Percentage for each Economic Performance Driver.  The payout percentage for each Economic Performance Driver is the product of the Performance Percentage times the applicable weighting factor as listed in Appendix A (“Payout Percentage for each Economic Performance Driver”).  However, for application of the Safety Economic Performance Driver, the maximum potential payout will be 100% for the Total Reportable Injury Frequency Rate subset of the Safety Economic Performance Driver, rather than 200%, in the event of any fatality during the calendar year for which the Corporate Performance Bonus is being calculated, unless otherwise approved by the Leadership Development and Compensation Committee.
		

		
			(c)        Calculating the Aggregate Payout Percentage.  The Aggregate Payout Percentage is the sum of the Payout Percentages for each Performance Factor.
		

		
			3.5       Determination of Target Performance Level.  An Employee’s Target Performance Level is determined by the Employee’s Pay Grade pursuant to the table in Appendix B.
		

		
			

		 

		

			6

		

 

		

		
			3.6       Determination of the Corporate Performance Bonus.  The Corporate Performance Bonus for each eligible Employee is the product of the Aggregate Payout Percentage, times the Employee’s Target Performance Level, times the Employee’s Bonus Eligible Earnings.
		

		
			3.7       Terminated Eligible Employees.  Terminated Eligible Employees shall be eligible to receive a Corporate Performance Bonus.  This bonus will be calculated according to Section III of this program, and pro-rated for the portion of the calendar year that Employee maintained employment with a Participating Employer.
		

		
			3.8       Adjustments.  The Leadership Development and Compensation Committee may adjust the Performance Percentage or any measure or otherwise increase or decrease the Corporate Performance Bonus otherwise payable in order to reflect changed circumstances or such other matters as the Leadership Development and Compensation Committee deems appropriate.
		

		
			3.9       Pay Grade.  If an eligible Employee was in more than one Pay Grade during the calendar year, the bonus payable to such eligible Employee shall be calculated on a pro‐rata basis in accordance with the amount of time spent by such eligible Employee in each Pay Grade during the calendar year.
		

		
			4.0       Time and Method of Payment.  Any bonus payable under this program shall be payable to each eligible Employee in cash as soon as practicable following approval of bonuses by the Leadership Development and Compensation Committee.All payments and the timing of such payments shall be made in accordance with practices and procedures established by the Participating Employer.  Payment under this program will be made no later than the 15th day of the third month following the calendar year in which an Employee’s right to payment is no longer subject to a substantial risk of forfeiture.  Notwithstanding the foregoing, in the event an Employee failed to complete any required ethics training or failed to comply with acknowledgement of any Code of Conduct of Newmont Mining or any Affiliated Entity, Newmont Mining may withhold payment under this program unless or until such Employee complies.
		

		
			4.1       Withholding Taxes.  All bonuses payable hereunder shall be subject to the withholding of such amounts as Newmont Mining or a Participating Employer may determine is required to be withheld pursuant to any applicable federal, state, local or foreign law or regulation.
		

		
			SECTION V-CHANGE OF CONTROL
		

		
			5.1       In General.  In the event of a Change of Control, each eligible Employee employed at the time of the Change of Control shall become entitled to the payment of a Corporate Performance Bonus in accordance with the provisions of this section. 
		

		
			5.2       Calculation of Bonuses.  Upon a Change of Control, each eligible Employee employed as of the date of the Change of Control, shall become entitled to the payment of a target annual Corporate Performance Bonus if a Change of Control occurs between September 1 and December 31.  If a Change of Control occurs between January 1 and August 31 each eligible Employee employed as of the date of the Change of Control, shall become entitled to the payment of  a target pro-rated Corporate Performance Bonus.    
		

		
			5.3       Payment of Bonuses.  The bonuses payable in accordance with the provisions of this section shall be calculated and paid as soon as practicable following the date of the Change of Control.  Such payments shall be subject to the withholding of such amounts as Newmont Mining or a Participating Employer may determine is required to be withheld pursuant to any applicable federal, state or local law or regulation.  Upon the completion of such payments, eligible Employees shall have no further right to the payment of any bonus hereunder (other than any bonus payable hereunder with respect to a previous calendar year that has not yet been paid).  Payment of a bonus under this section along with any personal bonus payable in the event of a Change of Control under the Newmont Senior Executive Compensation Program shall fully satisfy Section 3.02(a)(i)(B) of the 2012 

		 

		

			7

		

 

Executive Change of Control Plan of Newmont and Section 3.02(a)(i)(B) of the Executive Change of Control Plan of Newmont and no further payments under Section 3.02(a)(i)(B) 2012 Executive Change of Control Plan or 3.02(a)(i)(B) of the Executive Change of Control Plan of Newmont shall be due.
		

			
	
			
				 
			

			
	
			
			SECTION VI-GENERAL PROVISIONS

		
			6.1       Amount Payable Upon Death of Employee.  If an eligible Employee who is entitled to payment hereunder dies after becoming eligible for payment but before receiving full payment of the amount due, or if an eligible Employee dies and becomes a Terminated Eligible Employee, all amounts due shall be paid as soon as practicable after the death of the eligible Employee, in a cash lump sum, to the beneficiary or beneficiaries designated by the eligible Employee to receive life insurance proceeds under Group Life and Accidental Death & Dismemberment Plan of Newmont USA Limited (or a successor plan) or a similar plan of a Participating Employer. In the absence of an effective beneficiary designation under said plan, any amount payable hereunder following the death of an eligible Employee shall be paid to the eligible Employee’s estate.
		

		
			6.2       Right of Offset.  To the extent permitted by applicable law, Newmont Mining or a Participating Employer may, in its sole discretion, apply any bonus payments otherwise due and payable under this program against any eligible Employee or Terminated Eligible Employee loans outstanding to Newmont Mining, an Affiliated Entity, or Participating Employer, or other debts of the eligible Employee or Terminated Eligible Employee to Newmont Mining, an Affiliated Entity, or Participating Employer.  By accepting payments under this program, the eligible Employee consents to the reduction of any compensation paid to the eligible Employee by Newmont Mining, an Affiliated Entity, or Participating Employer to the extent the eligible Employee receives an overpayment from this program.
		

		
			6.3       Termination.  The Board may at any time amend, modify, suspend or terminate this program.
		

		
			6.4       Payments Due Minors or Incapacitated Persons.  If any person entitled to a payment under this program is a minor, or if the Leadership Development and Compensation Committee or its delegate determines that any such person is incapacitated by reason of physical or mental disability, whether or not legally adjudicated as incompetent, the Leadership Development and Compensation Committee or its delegate shall have the power to cause the payment becoming due to such person to be made to another for his or her benefit, without responsibility of the Leadership Development and Compensation Committee or its delegate, Newmont Mining, or any other person or entity to see to the application of such payment. Payments made pursuant to such power shall operate as a complete discharge of the Leadership Development and Compensation Committee, this program, Newmont Mining, and Affiliated Entity or Participating Employer.
		

		
			6.5       Severability.  If any section, subsection or specific provision is found to be illegal or invalid for any reason, such illegality or invalidity shall not affect the remaining provisions of this program, and this program shall be construed and enforced as if such illegal and invalid provision had never been set forth in this program.
		

		
			6.6       No Right to Employment.  The establishment of this program shall not be deemed to confer upon any person any legal right to be employed by, or to be retained in the employ of, Newmont Mining, any Affiliated Entity, any Participating Employer, or to give any Employee or any person any right to receive any payment whatsoever, except as provided under this program.  All Employees shall remain subject to discharge from employment to the same extent as if this program had never been adopted.
		

		
			6.7       Transferability.  Any bonus payable hereunder is personal to the Eligible Employee or Terminated Eligible Employee and may not be sold, exchanged, transferred, pledged, assigned or otherwise disposed of except by will or by the laws of descent and distribution.
		

		
			

		 

		

			8

		

 

		

		
			6.8       Successors.  This program shall be binding upon and inure to the benefit of Newmont Mining, the Participating Employers and the eligible Employees and Terminated Eligible Employees and their respective heirs, representatives and successors.
		

		
			6.9       Governing Law.  This program and all agreements hereunder shall be construed in accordance with and governed by the laws of the State of Colorado, unless superseded by federal law.
		

		
			6.10       Reimbursement.  The Leadership Development and Compensation Committee, to the full extent permitted by governing law, shall have the discretion to require reimbursement of any portion of the Corporate Performance Bonus previously paid to an eligible Employee pursuant to the terms of this compensation program if: a) the amount of such Corporate Performance Bonus was calculated based upon the achievement of certain financial results that were subsequently the subject of a restatement, and b) the amount of such Corporate Performance Bonus that would have been awarded to the eligible Employee had the financial results been reported as in the restatement would have been lower than the Corporate Performance Bonus actually awarded.  Additionally, the Leadership Development and Compensation Committee, to the full extent permitted by governing law, shall have the discretion to require reimbursement of any portion of a Corporate Performance Bonus previously paid to an eligible Employee pursuant to the terms of this compensation program if the eligible Employee is terminated for cause as defined in the Executive Change of Control Plan of Newmont.
		

		
			6.11       Section 409A.  It is the intention of Newmont Mining that payments under this compensation program comply with or be exempt from Section 409A of the Code and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”), and Newmont Mining shall have complete discretion to interpret and construe this program and any related plan or agreement in any manner that establishes an exemption from (or compliance with) the requirements of Code Section 409A.  If for any reason, such as imprecision in drafting, any provision of this program and/or any such plan or agreement does not accurately reflect its intended establishment of an exemption from (or compliance with) Code Section 409A, as demonstrated by consistent interpretations or other evidence of intent, such provision shall be considered ambiguous as to its exemption from (or compliance with) Code Section 409A and shall be interpreted by Newmont Mining in a manner consistent with such intent, as determined in the discretion of Newmont Mining.  None of Newmont Mining nor any other Participating Employer shall be liable to any eligible Employee or any other person (i) if any provisions of this program do not satisfy an exemption from, or the conditions of, Code Section 409A, or (ii) as to any tax consequence expected, but not realized, by any eligible Employee or other person due to the any payment under this program.
		

		
			

		 

		

			9

		

 

APPENDIX A

Payout Percentage for each Economic Performance Driver
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Safety

					
					
						Reserve and
ResourceAdditions (50%
gold reserves
and 50%
resource)

					
					
						Cash
Sustaining
Costs

					
					
						Return on
Capital
Employed

					
					
						EBITDA

					
					
						Project Cost
and
Execution 

					
					
						Sustainability

				
	
					
						20%

					
					
						5%

					
					
						20%

					
					
						10%

					
					
						30%

					
					
						10%

					
					
						5%

				

		
			 
		

		
			

		 

		

			10

		

 

APPENDIX B 
		

		
			Target AICP Corporate Performance Bonus
		

			
					
						 

					
					
						 

				
	
					
						Grade

					
					
						Percentage of Base Salary

				
	
					
						E‐1

					
					
						105%

				
	
					
						E‐2

					
					
						-

				
	
					
						E-3 Range 

					
						(based on executive role)

					
					
						60% - 88%

				
	
					
						E‐4 (excluding Regional Senior Vice Presidents “RSVP” of operating sites)

					
					
						53%

				
	
					
						E-4 RSVP

					
					
						53% Total- Weighted as Below:

					
						Corporate AICP-25%(13.25% of base salary)

					
						Regional AICP-75% (39.75% of base salary)

				
	
					
						 

					
					
						 

				
	
					
						E‐5

					
					
						30%

				

		
			 
		

		 

		

			11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00282-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00282-of-00352.parquet"}]]