Document:

Amendment to Xenogen's Change of Control Severance Policy

 Exhibit 10.1 
  
 AMENDMENT NO. 1 TO 
 XENOGEN CORPORATION 
 CHANGE OF CONTROL SEVERANCE POLICY 
 (amended as of January 25, 2006) 
  
 This document sets forth all applicable terms of an amendment to the Change of Control Severance Policy (the “Policy”) of Xenogen Corporation, a Delaware corporation (the “Company”),
effective as of the date set forth above and until further amended or terminated by the Company’s Board of Directors (together with a properly authorized committee thereof, the “Board”) in accordance with the terms hereof.

  
 1. Exhibit A. Exhibit A attached hereto amends and
restates Exhibit A to the Policy in its entirety. 
  
 2. The
Policy. Except as amended hereby, the Policy remains in full force and effect. 
  
 [remainder of page intentionally left blank] 

 EXHIBIT A 
  

									
	 	  	 Column A

	  	 	  	 Column B

	  	 
	 	  	William A. Albright	  	 	  	 Other Xenogen Employees added
 to this list from time to time by
 Xenogen’s Compensation Committee
	  	 
	 	  	Jason M. Brady	  	  	  
	 	  	David DeNola	  	  	  
	 	  	Michael J Sterns, D.V.M.	  	  	  
	 	  	Anthony Purchio, Ph.D.	  	  	  
	 	  	Bradley Rice, Ph.D.	  	  	  

  

 -2-Form of Note for Citigroup Funding Inc.

 Exhibit 4.01 
  
 THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO A NOMINEE
OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO CITIGROUP FUNDING INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  

			
	 No. R-1
	 	 INITIAL PRINCIPAL AMOUNT

	 CUSIP: 17308C 69 2
	 	 REPRESENTED $76,750,000

	 ISIN: US17308C6921
	 	 representing 7,675,000 ELKS

	 	 	 ($10 per ELKS)

  
 CITIGROUP FUNDING INC.

  
 9% Equity LinKed Securities (ELKS®) Based Upon the Common Stock of 
 Newmont Mining Corporation Due February 8, 2007 
  
 Citigroup Funding Inc., a Delaware corporation (hereinafter referred to as the “Company,” which term includes any successor corporation
under the Indenture herein referred to), for value received and on condition that this Note is not redeemed by the Company prior to February 8, 2007 (the “Stated Maturity Date”), hereby promises to pay to CEDE & CO.,
or its registered assigns, the Maturity Payment (as defined below), on the Stated Maturity Date. This Note will pay semi-annual coupon payments, is not subject to any sinking fund, is not subject to redemption at the option of the holder thereof
prior to the Stated Maturity Date, and is not subject to the defeasance provisions of the Indenture. The payments on this note are fully and unconditionally guaranteed by Citigroup Inc., a Delaware corporation (the “Guarantor”).

  
 Payment of the Maturity Payment with respect to this Note
shall be made upon presentation and surrender of this Note at the corporate trust office of the Trustee in the Borough of Manhattan, The City and State of New York, in such coin or currency of the United States as at the time of payment is legal
tender for payment of public and private debts or, if applicable, in the common stock of Newmont Mining Corporation (“Newmont Mining”). 
  
 This Note is one of the series of 9% Equity LinKed Securities Based Upon the Common Stock of Newmont Mining Corporation Due February 8, 2007 (the
“ELKS”). 

 COUPON 
  
 A coupon of $0.48 per ELKS will be paid in cash on August 8, 2006 and a coupon of $0.45 per ELKS will be paid in cash
on February 8, 2007. The August 8, 2006 coupon will be composed of $0.2491 of interest and a partial payment of an option premium in the amount of $0.2309. The February 8, 2007 coupon will be composed of $0.2335 of interest and a
partial payment of an option premium in the amount of $0.2165. Coupon payments will be payable to the persons in whose names the ELKS are registered at the close of business on the third Business Day preceding each Coupon Payment Date. If a Coupon
Payment Date falls on a day that is not a Business Day, the coupon payment to be made on such Coupon Payment Date will be made on the next succeeding Business Day with the same force and effect as if made on such Coupon Payment Date, and no
additional interest will accrue as a result of such delayed payment. 
  
 “Business Day” means any day that is not a Saturday, a Sunday or a day on which securities exchanges or banking institutions or trust companies in the City of New York are authorized or obligated by law or executive order
to close. 
  
 The interest portion of the coupon will represent
interest accruing at a rate of 4.6699% per annum from January 26, 2006 or from the most recent Coupon Payment Date to which the interest portion of the coupon has been paid or provided for until the Stated Maturity Date. The interest
portion of the coupon will be computed on the basis of a 360-day year of twelve 30-day months. 
  
 PAYMENT AT MATURITY 
  
 On the Stated Maturity Date, holders of the ELKS will receive for each ELKS the Maturity Payment described below. 
  
 DETERMINATION OF THE MATURITY PAYMENT 
  
 The Maturity Payment for each ELKS will equal either: 
  

	 	•	 	a number of shares of Newmont Mining common stock equal to the Exchange Ratio, if the Trading Price of Newmont Mining common stock on any Trading Day after January 23, 2006 up
to and including the third Trading Day before the Stated Maturity Date (whether intra-day or at the close of trading on any day) is less than or equal to $44.34 (approximately 77.5% of the Initial Share Price), which price will be referred to as the
“Downside Trigger Price,” or 

  

	 	•	 	$10 in cash. 

  
 In lieu of any fractional share of Newmont Mining common stock otherwise payable in respect of any ELKS, at the Stated Maturity Date, the holder of this Note will receive an amount in cash equal to the value of such
fractional share. The number of full shares of Newmont Mining common stock, and any cash in lieu of a fractional share, to be delivered at the Stated Maturity Date to the holder of this Note will be calculated based on the aggregate number of ELKS
held by such holder. 
  

 2 

 The “Initial Share Price” equals $57.21, the price per share of Newmont Mining common
stock at the market close on January 23, 2006. 
  
 The
“Exchange Ratio” equals 0.17479. 
  
 A
“Market Disruption Event” means the occurrence or existence of any suspension of or limitation imposed on trading (by reason of movements in price exceeding limits permitted by any exchange or market or otherwise) of, or the
unavailability, through a recognized system of public dissemination of transaction information, of accurate price, volume or related information in respect of, (1) the shares of Newmont Mining common stock (or any other security for which a
Trading Price or Closing Price must be determined) on any exchange or market, or (2) any options contracts or futures contracts relating to the shares of Newmont Mining common stock (or other security), or any options on such futures contracts,
on any exchange or market if, in each case, in the determination of the calculation agent, any such suspension, limitation or unavailability is material. 
  
 A “Trading Day” means a day, as determined by the calculation agent, on which trading is generally conducted (or was scheduled to have
been generally conducted, but for the occurrence of a Market Disruption Event) on the New York Stock Exchange, the American Stock Exchange, the Nasdaq National Market, the Chicago Mercantile Exchange and the Chicago Board Options Exchange, and in
the over-the-counter market for equity securities in the United States. 
  
 The “Trading Price” of Newmont Mining common stock or any other capital stock on any date of determination will be (1) if the common stock or capital stock is listed on a national securities exchange on that date of
determination, any reported sale price, regular way, of the principal trading session on that date on the principal U.S. exchange on which the common stock or capital stock is listed or admitted to trading, (2) if the common stock or capital
stock is not listed on a national securities exchange on that date of determination, or if the reported sale price on such exchange is not obtainable (even if the common stock or capital stock is listed or admitted to trading on such exchange), and
the common stock or capital stock is quoted on the Nasdaq National Market, any reported sale price of the principal trading session on that date as reported on the Nasdaq, and (3) if the common stock or capital stock is not quoted on the Nasdaq
on that date of determination, or if the reported sale price on the Nasdaq is not obtainable (even if the common stock or capital stock is quoted on the Nasdaq), any reported sale price of the principal trading session on the over-the-counter market
on that date as reported on the OTC Bulletin Board, the National Quotation Bureau or a similar organization. The determination of the Trading Price by the calculation agent in the event of a Market Disruption Event may be deferred by the calculation
agent for up to five consecutive Trading Days on which a Market Disruption Event is occurring, but not past the Trading Day prior to the Stated Maturity Date. If no reported sale price of the principal trading session is available pursuant to
clauses (1), (2) or (3) above or if there is a Market Disruption Event, the Trading Price on any date of determination, unless deferred by the calculation agent as described in the preceding sentence, 
  

 3 

 will be the arithmetic mean, as determined by the calculation agent, of the bid prices of the common stock or capital
stock obtained from as many dealers in such stock (which may include Citigroup Global Markets Inc. or any of our other subsidiaries or affiliates), but not exceeding three such dealers, as will make such bid prices available to the calculation
agent. A security “quoted on the Nasdaq National Market” will include a security included for listing or quotation in any successor to such system and the term “OTC Bulletin Board” will include any successor to such
service. 
  
 DILUTION ADJUSTMENTS 
  
 If Newmont Mining Corporation, after January 23, 2006, 
  
 (1) pays a stock dividend or makes a distribution with respect to its common
stock in shares of the stock, 
  
 (2) subdivides or splits the
outstanding shares of its common stock into a greater number of shares, 
  
 (3) combines the outstanding shares of the common stock into a smaller number of shares, or 
  
 (4) issues by reclassification of shares of its common stock any shares of other common stock of Newmont Mining Corporation, 
  
 then, in each of these cases, the Exchange Ratio will be multiplied by a dilution adjustment
equal to a fraction, the numerator of which will be the number of shares of common stock outstanding immediately after the event, plus, in the case of a reclassification referred to in (4) above, the number of shares of other common stock of
Newmont Mining Corporation, and the denominator of which will be the number of shares of common stock outstanding immediately before the event. The Initial Share Price and the Downside Trigger Price will also be adjusted in that case in the manner
described below. 
  
 If Newmont Mining Corporation, after
January 23, 2006, issues, or declares a record date in respect of an issuance of, rights or warrants to all holders of its common stock entitling them to subscribe for or purchase shares of its common stock at a price per share less than the
Then-Current Market Price of the common stock, other than rights to purchase common stock pursuant to a plan for the reinvestment of dividends or interest, then, in each case, the Exchange Ratio will be multiplied by a dilution adjustment equal to a
fraction, the numerator of which will be the number of shares of common stock outstanding immediately before the adjustment is effected, plus the number of additional shares of common stock offered for subscription or purchase pursuant to the rights
or warrants, and the denominator of which will be the number of shares of common stock outstanding immediately before the adjustment is effected by reason of the issuance of the rights or warrants, plus the number of additional shares of common
stock which the aggregate offering price of the total number of shares of common stock offered for subscription or purchase pursuant to the rights or warrants would purchase at the Then-Current Market Price of the common stock, which will be
determined by multiplying the total number of 
  

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 shares so offered for subscription or purchase by the exercise price of the rights or warrants and dividing the product
obtained by the Then-Current Market Price. To the extent that, after the expiration of the rights or warrants, the shares of common stock offered thereby have not been delivered, the Exchange Ratio will be further adjusted to equal the Exchange
Ratio which would have been in effect had the adjustment for the issuance of the rights or warrants been made upon the basis of delivery of only the number of shares of common stock actually delivered. The Initial Share Price and the Downside
Trigger Price will also be adjusted in that case in the manner described below. 
  
 If Newmont Mining Corporation, after January 23, 2006, declares or pays a dividend or makes a distribution to all holders of the common stock of any class of its capital stock, the capital stock of one or more of
its subsidiaries, evidences of its indebtedness or other non-cash assets, excluding any dividends or distributions referred to in the above paragraph and excluding any issuance or distribution to all holders of its common stock, in the form of
Marketable Securities, of capital stock of one or more of its subsidiaries, or issues to all holders of its common stock rights or warrants to subscribe for or purchase any of its or one or more of its subsidiaries’ securities, other than
rights or warrants referred to in the above paragraph, then, in each of these cases, the Exchange Ratio will be multiplied by a dilution adjustment equal to a fraction, the numerator of which will be the Then-Current Market Price of one share of the
common stock, and the denominator of which will be the Then-Current Market Price of one share of the common stock, less the fair market value (as determined by a nationally recognized independent investment banking firm retained for this purpose by
the Company, whose determination will be final) as of the time the adjustment is effected of the portion of the capital stock, assets, evidences of indebtedness, rights or warrants so distributed or issued applicable to one share of common stock.
The Initial Share Price and the Downside Trigger Price will also be adjusted in that case in the manner described below. If any capital stock declared or paid as a dividend or otherwise distributed or issued to all holders of Newmont Mining common
stock consists, in whole or in part, of Marketable Securities, then the fair market value of such Marketable Securities will be determined by the calculation agent by reference to the Trading Price of such capital stock. The fair market value of any
other distribution or issuance referred to in this paragraph will be determined by a nationally recognized independent investment banking firm retained for this purpose by the Company, whose determination will be final. 
  
 Notwithstanding the foregoing, in the event that, with respect to any
dividend or distribution to which the above paragraph would otherwise apply, the denominator in the fraction referred to in the above formula is less than $1.00 or is a negative number, then the Company may, at its option, elect to have the
adjustment provided by the above paragraph not be made and in lieu of this adjustment, the Trading Price of Newmont Mining common stock on any Trading Day thereafter up to and including the third Trading Day before the Stated Maturity Date will be
deemed to be equal to the fair market value of the capital stock, evidences of indebtedness, assets, rights or warrants (determined, as of the date this dividend or distribution is made, by a nationally recognized independent investment banking firm
retained for this purpose by the Company, whose determination will be final) so distributed or issued applicable to one share of Newmont Mining common stock and, if the Trading Price of Newmont Mining common stock on any Trading Day thereafter, up
to and including the third Trading Day before the Stated Maturity Date, is less than or equal to the Downside Trigger Price, each holder of the ELKS will have the right to receive at the Stated Maturity Date cash in an amount per ELKS equal to the
Exchange Ratio multiplied by such fair market value. 
  

 5 

 If Newmont Mining Corporation, after January 23, 2006, declares a record date in respect of a
distribution of cash, other than any Permitted Dividends described below, any cash distributed in consideration of fractional shares of common stock and any cash distributed in a Reorganization Event referred to below, by dividend or otherwise, to
all holders of its common stock, or makes an Excess Purchase Payment, then the Exchange Ratio will be multiplied by a dilution adjustment equal to a fraction, the numerator of which will be the Then-Current Market Price of the common stock, and the
denominator of which will be the Then-Current Market Price of the common stock on the record date less the amount of the distribution applicable to one share of common stock which would not be a Permitted Dividend, or, in the case of an Excess
Purchase Payment, less the aggregate amount of the Excess Purchase Payment for which adjustment is being made at the time divided by the number of shares of common stock outstanding on the record date. The Initial Share Price and the Downside
Trigger Price will also be adjusted in that case in the manner described below. 
  
 For the purposes of these adjustments: 
  
 A “Permitted Dividend” is any cash dividend in respect of Newmont Mining common stock, other than a cash dividend that exceeds the immediately preceding cash dividend, and then only to the extent that the per share amount
of this dividend results in an annualized dividend yield on the common stock in excess of 10%. 
  
 An “Excess Purchase Payment” is the excess, if any, of (x) the cash and the value (as determined by a nationally recognized independent investment banking firm retained for this purpose by the
Company, whose determination will be final) of all other consideration paid by Newmont Mining Corporation with respect to one share of common stock acquired in a tender offer or exchange offer by Newmont Mining Corporation, over (y) the
Then-Current Market Price of the common stock. 
  
 Notwithstanding
the foregoing, in the event that, with respect to any dividend, distribution or Excess Purchase Payment to which the sixth paragraph in this section would otherwise apply, the denominator in the fraction referred to in the formula in that paragraph
is less than $1.00 or is a negative number, then the Company may, at its option, elect to have the adjustment provided by the sixth paragraph in this section not be made and in lieu of this adjustment, the Trading Price of Newmont Mining common
stock on any Trading Day thereafter up to and including the third Trading Day before the Stated Maturity Date will be deemed to be equal to the sum of the amount of cash and the fair market value of other consideration (determined, as of the date
this dividend or distribution is made, by a nationally recognized independent investment banking firm retained for this purpose by the Company, whose determination will be final) so distributed or applied to the acquisition of the common stock in
the tender offer or exchange offer applicable to one share of Newmont Mining common stock and, if the Trading Price of Newmont Mining common stock on any Trading Day thereafter, up to and including the third Trading Day before the Stated Maturity
Date, is less than or equal to the Downside Trigger Price, each holder of the ELKS will have the right to receive at the Stated Maturity Date cash in an amount per ELKS equal to the Exchange Ratio multiplied by such sum. 
  

 6 

 If any adjustment is made to the Exchange Ratio as set forth above, an adjustment will also be made to
the Initial Share Price and the Downside Trigger Price. The required adjustment will be made by dividing the Initial Share Price and the Downside Trigger Price by the relevant dilution adjustment. 
  
 If Newmont Mining Corporation, after January 23, 2006, issues or makes a
distribution to all holders of its common stock of the capital stock of one or more of its subsidiaries, in each case in the form of Marketable Securities, and if the Trading Price on any Trading Day after January 23, 2006 up to and including
the third Trading Day before the Stated Maturity Date (whether intra-day or at the close of trading on any day) is less than or equal to the Downside Trigger Price, then, in each of these cases, each holder of the ELKS will receive at the Stated
Maturity Date for each ELKS a combination of shares of Newmont Mining common stock equal to the Exchange Ratio and a number of shares of such Newmont Mining subsidiaries’ capital stock equal to the Exchange Ratio times the number of shares of
such subsidiaries’ capital stock distributed per share of Newmont Mining common stock. Following the record date for an event described in this paragraph, the “Trading Price” will equal the Trading Price of Newmont Mining common
stock, plus the Trading Price of such subsidiaries’ capital stock times the number of shares of such subsidiaries’ capital stock distributed per share of Newmont Mining common stock. In the event a distribution pursuant to this paragraph
occurs, following the record date for such distribution, the adjustments described in “Dilution Adjustments” will also apply to such subsidiaries’ capital stock if any of the events described in “Dilution Adjustments” occurs
with respect to such capital stock. 
  
 Each dilution adjustment
will be effected as follows: 
  

	 	•	 	in the case of any dividend, distribution or issuance, at the opening of business on the Business Day next following the record date for determination of holders of Newmont Mining
common stock entitled to receive this dividend, distribution or issuance or, if the announcement of this dividend, distribution, or issuance is after this record date, at the time this dividend, distribution or issuance was announced by Newmont
Mining Corporation, 

  

	 	•	 	in the case of any subdivision, split, combination or reclassification, on the effective date of the transaction, 

  

	 	•	 	in the case of any Excess Purchase Payment for which Newmont Mining Corporation announces, at or prior to the time it commences the relevant share repurchase, the repurchase price
per share for shares proposed to be repurchased, on the date of the announcement, and 

  

	 	•	 	in the case of any other Excess Purchase Payment, on the date that the holders of the repurchased shares become entitled to payment in respect thereof. 

  

 7 

 All dilution adjustments will be rounded upward or downward to the nearest 1/10,000th or, if there is not
a nearest 1/10,000th, to the next lower 1/10,000th. No adjustment in the Exchange Ratio will be required unless the adjustment would require an increase or decrease of at least one percent therein, provided, however, that any adjustments which by
reason of this sentence are not required to be made will be carried forward (on a percentage basis) and taken into account in any subsequent adjustment. If any announcement or declaration of a record date in respect of a dividend, distribution,
issuance or repurchase requiring an adjustment as described herein is subsequently canceled by Newmont Mining Corporation, or this dividend, distribution, issuance or repurchase fails to receive requisite approvals or fails to occur for any other
reason, then, upon the cancellation, failure of approval or failure to occur, the Exchange Ratio, the Initial Share Price and the Downside Trigger Price will be further adjusted to the Exchange Ratio, the Initial Share Price and the Downside Trigger
Price which would then have been in effect had adjustment for the event not been made. If a Reorganization Event described below occurs after the occurrence of one or more events requiring an adjustment as described herein, the dilution adjustments
previously applied to the Exchange Ratio will not be rescinded but will be applied to the Reorganization Event as provided for below. 
  
 The “Then-Current Market Price” of the common stock, for the purpose of applying any dilution adjustment, means the average Closing Price
per share of common stock for the ten Trading Days immediately before this adjustment is effected or, in the case of an adjustment effected at the opening of business on the Business Day next following a record date, immediately before the earlier
of the date the adjustment is effected and the related Ex-Date. For purposes of determining the Then-Current Market Price, the determination of the Closing Price by the calculation agent in the event of a Market Disruption Event, as described in the
definition of Closing Price, may be deferred by the calculation agent for up to five consecutive Trading Days on which a Market Disruption Event is occurring, but not past the Trading Day prior to the Stated Maturity Date. 
  
 The “Closing Price” of Newmont Mining common stock (or any
other security for which a Closing Price must be determined) on any date of determination will be (1) if the common stock or other security is listed on a national securities exchange on that date of determination, the closing sale price or, if
no closing sale price is reported, the last reported sale price on that date on the principal U.S. exchange on which the common stock or other security is listed or admitted to trading, (2) if the common stock or other security is not listed on
a national securities exchange on that date of determination, or if the closing sale price or last reported sale price is not obtainable (even if the common stock or other security is listed or admitted to trading on such exchange), and the common
stock or other security is quoted on the Nasdaq National Market, the closing sale price or, if no closing sale price is reported, the last reported sale price on that date as reported on the Nasdaq, and (3) if the common stock or other security
is not quoted on the Nasdaq on that date of determination or, if the closing sale price or last reported sale price is not obtainable (even if the common stock or other security is quoted on the Nasdaq), the last quoted bid price for the common
stock or other security in the over-the-counter market on that date as reported by the OTC Bulletin Board, the National Quotation Bureau or a similar organization. The determination of the Closing Price by the calculation agent in the event of a
Market Disruption Event may be deferred by the calculation agent for up to five consecutive Trading Days on which a Market Disruption Event is occurring, but not past the Trading Day 
  

 8 

 prior to the Stated Maturity Date. If no closing sale price or last reported sale price is available pursuant to clauses
(1), (2) or (3) above or if there is a Market Disruption Event, the Closing Price on any date of determination, unless deferred by the calculation agent as described in the preceding sentence, will be the arithmetic mean, as determined by
the calculation agent, of the bid prices of the common stock or other security obtained from as many dealers in such security (which may include Citigroup Global Markets Inc. or any of our other subsidiaries or affiliates), but not exceeding three
such dealers, as will make such bid prices available to the calculation agent. A security “quoted on the Nasdaq National Market” will include a security included for listing or quotation in any successor to such system and the term
“OTC Bulletin Board” will include any successor to such service. If, during any period of ten Trading Days used to calculate the Then-Current Market Price, there occurs any event requiring an adjustment to be effected as described herein,
then the Closing Price for each Trading Day in such period of ten Trading Days occurring prior to the day on which such adjustment is effected will be adjusted by being divided by the relevant dilution adjustment. 
  
 The “Ex-Date” relating to any dividend, distribution or
issuance is the first date on which the shares of the common stock trade in the regular way on their principal market without the right to receive this dividend, distribution or issuance. 
  
 In the event of any of the following “Reorganization Events:” 
  

	 	•	 	any consolidation or merger of Newmont Mining Corporation, or any surviving entity or subsequent surviving entity of Newmont Mining Corporation, with or into another entity, other
than a merger or consolidation in which Newmont Mining Corporation is the continuing corporation and in which the common stock outstanding immediately before the merger or consolidation is not exchanged for cash, securities or other property of
Newmont Mining Corporation or another issuer, 

  

	 	•	 	any sale, transfer, lease or conveyance to another corporation of the property of Newmont Mining Corporation or any successor as an entirety or substantially as an entirety,

  

	 	•	 	any statutory exchange of securities of Newmont Mining Corporation or any successor of Newmont Mining Corporation with another issuer, other than in connection with a merger or
acquisition, or 

  

	 	•	 	any liquidation, dissolution or winding up of Newmont Mining Corporation or any successor of Newmont Mining Corporation, 

  
 the Trading Price of Newmont Mining common stock on any Trading Day thereafter up to and
including the third Trading Day before the Stated Maturity Date will be deemed to be equal to the Transaction Value. 
  
 The “Transaction Value” will be the sum of: 
  
 (1) for any cash received in a Reorganization Event, the amount of cash received per share of common stock, 
  

 9 

 (2) for any property other than cash or Marketable Securities received in a Reorganization Event, an
amount equal to the market value on the date the Reorganization Event is consummated of that property received per share of common stock, as determined by a nationally recognized independent investment banking firm retained for this purpose by the
Company, whose determination will be final, and 
  
 (3) for any
Marketable Securities received in a Reorganization Event, an amount equal to the Closing Price per share of these Marketable Securities on the applicable Trading Day multiplied by the number of these Marketable Securities received for each share of
common stock. 
  
 “Marketable Securities” are any
perpetual equity securities or debt securities with a stated maturity after the Stated Maturity Date, in each case that are listed on a U.S. national securities exchange or reported by the Nasdaq National Market. The number of shares of any equity
securities constituting Marketable Securities included in the calculation of Transaction Value pursuant to clause (3) above will be adjusted if any event occurs with respect to the Marketable Securities or the issuer of the Marketable
Securities between the time of the Reorganization Event and the Stated Maturity Date that would have required an adjustment as described above, had it occurred with respect to Newmont Mining common stock or Newmont Mining Corporation. Adjustment for
these subsequent events will be as nearly equivalent as practicable to the adjustments described above. 
  
 If Newmont Mining common stock has been subject to a Reorganization Event and the Trading Price of Newmont Mining common stock on any Trading Day
thereafter, up to and including the third Trading Day before the Stated Maturity Date, is less than or equal to the Downside Trigger Price, then each holder of the ELKS will have the right to receive per $10 principal amount of ELKS (i) cash in
an amount equal to the Exchange Ratio multiplied by the sum of clauses (1) and (2) in the definition of “Transaction Value” above and (ii) the number of Marketable Securities received for each share of stock in the
Reorganization Event multiplied by the Exchange Ratio. 
  
 GENERAL 
  
 This Note is one of a duly authorized issue
of Debt Securities of the Company, issued and to be issued in one or more series under a Senior Debt Indenture, dated as of June 1, 2005 (the “Indenture”), among the Company, the Guarantor, and The Bank of New York, as trustee
(the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the
Company, the Guarantor, the Trustee and the holders of the ELKS, and the terms upon which the ELKS are, and are to be, authenticated and delivered. 
  
 In case an Event of Default with respect to the ELKS shall have occurred and be continuing, the principal of the ELKS may be declared due and payable in
the manner and with 
  

 10 

 the effect provided in the Indenture. In such case, the amount declared due and payable upon any acceleration permitted
by the Indenture will be determined by the calculation agent and will be equal to, with respect to this Note, the Maturity Payment calculated as though the Stated Maturity Date of this Note were the date of early repayment. In case of default at the
Stated Maturity Date of this Note, this Note shall bear interest, payable upon demand of the beneficial owners of this Note in accordance with the terms of the ELKS, from and after the Stated Maturity Date through the date when payment of such
amount has been made or duly provided for, at the rate of 5.125% per annum on the unpaid amount (or the cash equivalent of such unpaid amount) due. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the
Company, the Guarantor and the rights of the holders of the Debt Securities of each series to be affected under the Indenture at any time by the Company, the Guarantor and a majority in aggregate principal amount of the Debt Securities at the time
Outstanding of each series affected thereby. The Indenture also contains provisions permitting the holders of specified percentages in aggregate principal amount of the Debt Securities of any series at the time Outstanding, on behalf of the holders
of all Debt Securities of such series, to waive compliance by the Company and the Guarantor with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the holder of
this Note shall be conclusive and binding upon such holder and upon all future holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Note. 
  
 The holder of this Note may not
enforce such holder’s rights pursuant to the Indenture or the Notes except as provided in the Indenture. No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company,
or, failing which, the Guarantor to pay the Maturity Payment with respect to this Note, and to pay any interest on any overdue amount thereof at the time, place and rate, and in the coin or currency, herein prescribed. 
  
 All terms used in this Note which are defined in the Indenture but not in
this Note shall have the meanings assigned to them in the Indenture. 
  
 Unless the certificate of authentication hereon has been executed by the Trustee by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purposes. 
  

 11 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

  

			
	CITIGROUP FUNDING INC.
		
	By:	 	 /s/ Geoffrey S. Richards

	Name:	 	Geoffrey S. Richards
	Title:	 	Vice President and Assistant Treasurer

  

			
	Corporate Seal
	Attest:
		
	By:	 	 /s/ Douglas C. Turnbull

	Name:	 	Douglas C. Turnbull
	Title:	 	Assistant Secretary
	
	Dated January 26, 2006
	
	CERTIFICATE OF AUTHENTICATION
	 	 	This is one of the Notes referred to in the within-mentioned Indenture.
	
	 The Bank of New York,
 as
Trustee

		
	By:	 	 /s/ Geovanni Barris

	 	 	Authorized Signatory

  

 12

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