Document:

Confirmation of Convertible Note Warrant Transaction, dated as of July 13, 2007

 Exhibit 10.33 
  

	
	Deutsche Bank

	  
 Deutsche Bank AG, London Branch

	Winchester house
	1 Great Winchester St,
	London EC2N 2DB
	Telephone: 44 20 7545 8000
	  
 c/o Deutsche Bank Securities Inc.

	60 Wall Street
	New York, NY 10005
	Telephone: 212-250-2500

  

			
	 DATE:
	 	July 13, 2007
		
	 TO:
	 	Newmont Mining Corporation
		 	1700 Lincoln Street
		 	Denver, Colorado 80203
	 ATTENTION:
	 	Treasurer
	 TELEPHONE:
	 	(303) 863-7414
	 FACSIMILE:
	 	(303) 837-5837
		
	 FROM:
	 	Deutsche Bank AG London
		 	c/o Deutsche Bank Securities Inc.
		
	 TELEPHONE:
	 	(212) 250-5977
	 FACSIMILE:
	 	(212) 797-8826
		
	 SUBJECT:
	 	Equity Derivatives Confirmation
		
	 REFERENCE NUMBER:
	 	193076

 Re: Warrants 
 The purpose of this letter agreement (this “Confirmation”) is to confirm the terms and conditions of the Warrants issued by Newmont Mining Corporation (“Company”) to Deutsche Bank AG acting through its
London Branch (“Deutsche”) on the Trade Date specified below (the “Transaction”). This letter agreement constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below. This
Confirmation shall replace any previous agreements relating to this Transaction and serve as the final documentation for this Transaction. 
 DEUTSCHE
BANK AG IS NOT REGISTERED AS A BROKER DEALER UNDER THE U.S. SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. DEUTSCHE BANK SECURITIES INC. (“AGENT”) HAS ACTED SOLELY AS AGENT IN CONNECTION WITH THE TRANSACTION AND HAS NO OBLIGATION, BY WAY OF
ISSUANCE, ENDORSEMENT, GUARANTEE OR OTHERWISE WITH RESPECT TO THE PERFORMANCE OF EITHER PARTY UNDER THE TRANSACTION. DEUTSCHE BANK AG, LONDON BRANCH IS NOT A MEMBER OF THE SECURITIES INVESTOR PROTECTION CORPORATION (SIPC). 
  

			
	 Chairman of the Supervisory Board: Clemens Börsig
 Board of Managing Directors: Hermann-Josef Lamberti,
 Josef Ackermann, Tessen von Heydebreck, Anthony
 Dilorio, Hugo Banziger
	  	Deutsche Bank AG is regulated by the FSA for the conduct of designated investment business in the UK, is a member of the London Stock Exchange and is a limited liability company incorporated
in the Federal Republic of Germany HRB No. 30 000 District Court of Frankfurt am Main; Branch Registration No. in England and Wales BR000005, Registered address: Winchester House, 1 Great Winchester Street, London EC2N 2DB.

 The definitions and provisions contained in the 2002 ISDA Equity Derivatives Definitions (the
“Equity Definitions”), as published by the International Swaps and Derivatives Association, Inc. (“ISDA”), are incorporated into this Confirmation. In the event of any inconsistency between the Equity Definitions
and this Confirmation, this Confirmation shall govern. 
 Each party is hereby advised, and each such party acknowledges, that the other
party has engaged in, or refrained from engaging in, substantial financial transactions and has taken other material actions in reliance upon the parties’ entry into the Transaction to which this Confirmation relates on the terms and conditions
set forth below. 
 1. This Confirmation evidences a complete and binding agreement between Deutsche and Company as to the terms of the Transaction to which
this Confirmation relates. This Confirmation shall supplement, form a part of, and be subject to an agreement in the form of the 1992 ISDA Master Agreement (Multicurrency-Cross Border) (the “Agreement”) as if Deutsche and Company
had executed an agreement in such form (but without any Schedule except for (i) the election of the laws of the State of New York as the governing law, (ii) the United States dollars as the Termination Currency, (iii) Second Method
and Loss as the payments due upon early termination and (iv) Specified Transaction being specified as “none”) on the Trade Date. In the event of any inconsistency between provisions of that Agreement and this Confirmation, this
Confirmation will prevail for the purpose of the Transaction to which this Confirmation relates (and, without limiting the generality of the foregoing, if any representation or warranty of Company made under the Agreement is addressed by a more
specific representation or warranty contained in this Confirmation, they shall be deemed inconsistent and only the more specific representation or warranty in this Confirmation shall apply). The parties hereby agree that no Transaction other than
the Transaction to which this Confirmation relates shall be governed by the Agreement and that no existing ISDA Master Agreement between the parties (other than the Agreement) shall apply to the Transaction. 
 2. The Transaction is a Warrant Transaction, which shall be considered a Share Option Transaction for purposes of the Equity Definitions. The terms of the particular
Transaction to which this Confirmation relates are as follows: 
  

			
	General Terms:	  	
		
	 Trade Date:
	  	July 13, 2007
		
	 Warrants:
	  	Equity call warrants, each giving the holder the right to purchase one Share at the Strike Price, subject to the Settlement Terms set forth below. For the purposes of the Equity Definitions,
each reference to a Warrant herein shall be deemed to be a reference to a Call Option.
		
	 Warrant Style:
	  	European
		
	 Seller:
	  	Company
		
	 Buyer:
	  	Deutsche
		
	 Shares:
	  	The common stock of Company, par value USD 1.60 per Share (Exchange symbol “NEM”)
		
	 Number of Warrants:
	  	486,938, subject to adjustment as provided herein.
		
	 Warrant Entitlement:
	  	One Share per Warrant
		
	 Strike Price:
	  	USD 60.2700

  

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	 Premium:
	  	The amount specified as such by the Calculation Agent in accordance with Premium Determination provisions below, which Premium shall be calculated using the Black-Scholes pricing methodology
and using the same input assumptions as used in calculating the Premium under the Confirmation for the Warrants Transaction between Company and Deutsche (Reference Number: 192484); provided that such Premium shall be based on (i) the
volume-weighted average of the Share prices at which Deutsche (or an affiliate of Deutsche) purchases Shares during the Hedging Period (as defined below) in connection with the hedge of the Transaction, and (ii) the interest rate applicable on the
last day of the Hedging Period; provided further that such calculations shall be made in good faith and in a commercially reasonable manner and Deutsche shall, upon request, make available to Counterparty such information used by Deutsche to
make any such calculation or determination of Premium as may be reasonably necessary in order to enable Counterparty to independently confirm the accuracy of such calculation or determination (for the avoidance of doubt, such information shall not
include any proprietary models of Deutsche).
		
	 Premium Payment Date:
	  	The Early Unwind Date as defined in Section 9(e) below; provided that if the Hedging Period has not been completed on or before July 16, 2007 then Premium Payment Date shall be the second
Currency Business Day immediately following the last day of the Hedging Period.
		
	 Premium Determination:
	  	Beginning on the Trade Date, Deutsche or an affiliate of Deutsche shall effect, for the account of Deutsche, transactions in the Shares to establish its initial hedge of the price and market
risk undertaken by Deutsche with respect to this Transaction, as well as the amount of the Premium payable by Deutsche to Company with respect to this Transaction (the dates on which such transactions are effected being collectively referred to as
the “Hedging Period”) and shall within one Currency Business Day from the last day of the Hedging Period notify Company of the amount of the Premium.
		
	 Exchange:
	  	The New York Stock Exchange
		
	 Related Exchange(s):
	  	All Exchanges
		
	Procedures for Exercise:	  	
		
	 Expiration Time:
	  	The Valuation Time
		
	 Expiration Date(s):
	  	Each Scheduled Trading Day during the period from and including the First Expiration Date and to and including the 49th Scheduled Trading Day following the First Expiration Date shall be an
“Expiration Date” for a number of Warrants equal to the Daily Number of Warrants on such date; provided that, notwithstanding anything to the contrary in the Equity Definitions, if any such date is a Disrupted Day, the Calculation
Agent shall make adjustments, if applicable, to the Daily Number of Warrants or shall reduce such Daily Number of Warrants to zero for which such day shall be an Expiration Date and shall designate a Scheduled Trading Day or a number of Scheduled
Trading Days

  

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		  	as the Expiration Date(s) for the remaining Daily Number of Warrants or a portion thereof for the originally scheduled Expiration Date; and provided further that if such Expiration
Date has not occurred pursuant to this clause as of the eighth Scheduled Trading Day following the last scheduled Expiration Date under this Transaction, the Calculation Agent shall have the right to declare such Scheduled Trading Day to be the
final Expiration Date and the Calculation Agent shall determine its good faith estimate of the fair market value for the Shares as of the Valuation Time on that eighth Scheduled Trading Day or on any subsequent Scheduled Trading Day, as the
Calculation Agent shall determine using commercially reasonable means.
		
	 First Expiration Date:
	  	October 15, 2017 (or if such day is not a Scheduled Trading Day, the next following Scheduled Trading Day), subject to Market Disruption Event below.
		
	 Daily Number of Warrants:
	  	For any Expiration Date, the Number of Warrants that have not expired or been exercised as of such day, divided by the remaining number of Expiration Dates (including such day), rounded
down to the nearest whole number, subject to adjustment pursuant to the provisos to “Expiration Date(s)”.
		
	 Automatic Exercise:
	  	Applicable; and means that, unless all Warrants have been previously exercised hereunder, a number of Warrants for each Expiration Date equal to the Daily Number of Warrants (as adjusted
pursuant to the terms hereof) for such Expiration Date will be deemed to be automatically exercised; provided that “In-the-Money” means that the Relevant Price for such Expiration Date exceeds the Strike Price for such Expiration
Date; and provided further that all references in Section 3.4(b) of the Equity Definitions to “Physical Settlement” shall be read as references to “Net Share Settlement”.
		
	 Market Disruption Event:
	  	Section 6.3(a)(ii) of the Equity Definitions is hereby amended by replacing clause (ii) in its entirety with “(ii) an Exchange Disruption, or” and inserting immediately following
clause (iii) the phrase “; in each case that the Calculation Agent reasonably determines is material.”
		
	Valuation:	  	
		
	 Valuation Time:
	  	Scheduled Closing Time; provided that if the principal trading session is extended, the Calculation Agent shall determine the Valuation Time in its reasonable discretion.
		
	 Valuation Date:
	  	Each Exercise Date.
		
	 Settlement Terms:
	  	
		
	 Settlement Method:
	  	Net Share Settlement.
		
	 Net Share Settlement:
	  	On the relevant Settlement Date, Company shall deliver to Deutsche the Share Delivery Quantity of Shares for such Settlement Date to the account specified hereto free of payment through
the

  

 4 

			
		  	Clearance System. If, in the reasonable opinion of Company or Deutsche based on advice of counsel, for any reason, the Shares deliverable upon Net Share Settlement would not be immediately
freely transferable by Deutsche under Rule 144(k) under the Securities Act of 1933, as amended (the “Securities Act”), then Deutsche may elect to either (x) accept delivery of such Shares notwithstanding any restriction on transfer
or (y) have the provisions set forth in Section 9(m) below apply.
		
	 Share Delivery Quantity:
	  	For any Settlement Date, a number of Shares, as calculated by the Calculation Agent, equal to the Net Share Settlement Amount for such Settlement Date divided by the Settlement Price on
the Valuation Date in respect of such Settlement Date, rounded down to the nearest whole number plus any Fractional Share Amount.
		
	 Net Share Settlement Amount:
	  	For any Settlement Date, an amount equal to the product of (i) the Number of Warrants exercised or deemed exercised on the relevant Exercise Date, (ii) the Strike Price Differential for such
Settlement Date and (iii) the Warrant Entitlement.
		
	 Settlement Price:
	  	For any Valuation Date, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page NEM.N <equity> AQR (or any successor
thereto) in respect of the period from the scheduled opening time of the Exchange to the Scheduled Closing Time on such Valuation Date (or if such volume-weighted average price is unavailable, the market value of one Share on such Valuation Date, as
determined by the Calculation Agent). Notwithstanding the foregoing, if (i) any Expiration Date is a Disrupted Day and (ii) the Calculation Agent determines that such Expiration Date shall be an Expiration Date for fewer than the Daily Number of
Warrants, as described above, then the Settlement Price for the relevant Valuation Date shall be the volume-weighted average price per Share on such Valuation Date on the Exchange, as determined by the Calculation Agent based on such sources as it
deems appropriate using a volume-weighted methodology, for the portion of such Valuation Date for which the Calculation Agent determines there is no Market Disruption Event.
		
	 Settlement Date(s):
	  	As determined in reference to Section 9.4 of the Equity Definitions, subject to Section 9(m)(i) hereof.
		
	Other Applicable Provisions:	  	The provisions of Sections 9.1(c), 9.8, 9.9, 9.11 and 9.12 of the Equity Definitions will be applicable; provided that Representation and Agreement in Section 9.11 shall be modified as
provided below; and provided further that all references in such provisions to “Physically-settled” shall be read as references to “Net Share Settled.” “Net Share Settled” in relation to any Warrant means that
Net Share Settlement is applicable to that Warrant.
		
	Representation and Agreement:	  	Notwithstanding Section 9.11 of the Equity Definitions, the parties agree that any Shares delivered to Deutsche may be, upon delivery, subject to restrictions and limitations arising
from

  

 5 

			
		  	Company’s status as issuer of the Shares under applicable securities laws, and Company makes no representation to the contrary thereunder relating to restrictions, obligations,
limitations or requirements under applicable securities laws arising from the fact that Company is the issuer of the Shares.
		
	3. Additional Terms applicable to the Transaction:	  	
		
	    Adjustments applicable to the Warrants:	  	
		
	 Method of Adjustment:
	  	Calculation Agent Adjustment. For the avoidance of doubt, in making any adjustments under the Equity Definitions, the Calculation Agent may make adjustments, if any, to any one or more of the
Strike Price, the Number of Warrants, the Daily Number of Warrants and the Warrant Entitlement. Notwithstanding the foregoing, any cash dividends or distributions on the Shares, whether or not extraordinary, shall be governed by Section 9(h) of this
Confirmation in lieu of Article 10 or Section 11.2(c) of the Equity Definitions.
		
	Extraordinary Events applicable to the Transaction:	  	
		
	 New Shares:
	  	Section 12.1(i) of the Equity Definitions is hereby amended by deleting the text in clause (i) in its entirety and replacing it with the phrase “publicly quoted, traded or listed on any of
the New York Stock Exchange, the American Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors)”.
		
	 Consequence of Merger Events:
	  	
		
	 Share-for-Share:
	  	Modified Calculation Agent Adjustment
		
	 Share-for-Other:
	  	Cancellation and Payment (Calculation Agent Determination)
		
	 Share-for-Combined:
	  	Cancellation and Payment (Calculation Agent Determination); provided that Deutsche may elect, in its commercially reasonable judgment, Component Adjustment (Calculation Agent
Determination).
		
	 Consequence of Tender Offers:
	  	
		
	 Tender Offer:
	  	Applicable; provided however that if an event occurs that constitutes both a Tender Offer under Section 12.1(d) of the Equity Definitions and Additional Termination Event under Section
9(j)(ii)(C) of this Confirmation, Deutsche may elect, in its commercially reasonable judgment, whether the provisions of Section 12.3 of the Equity Definitions or Section 9(h)(ii)(C) will apply.
		
	 Share-for-Share:
	  	Modified Calculation Agent Adjustment
		
	 Share-for-Other:
	  	Modified Calculation Agent Adjustment

  

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	 Share-for-Combined:
	  	Modified Calculation Agent Adjustment
		
	 Reference Markets:
	  	For the avoidance of doubt, and without limiting the generality of the foregoing provisions, any adjustment effected by the Calculation Agent pursuant to Section 12.2(e) and/or Section 12.3(d)
of the Equity Definitions may be determined by reference to the adjustment(s) made in respect of Merger Events or Tender Offers, as the case may be, in the convertible bond market.
		
	 Nationalization, Insolvency or Delisting:
	  	Cancellation and Payment (Calculation Agent Determination); provided that, in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a
Delisting if the Exchange is located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, the American Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global
Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, the American Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their
respective successors), such exchange or quotation system shall thereafter be deemed to be the Exchange.
		
	 Additional Disruption Events:
	  	
		
	 Change in Law:
	  	Applicable
		
	 Failure to Deliver:
	  	Not Applicable
		
	 Insolvency Filing:
	  	Applicable
		
	 Hedging Disruption:
	  	Applicable
		
	 Increased Cost of Hedging:
	  	Not Applicable
		
	 Loss of Stock Borrow:
	  	Applicable
		
	 Maximum Stock Loan Rate:
	  	200 basis points per annum
		
	 Increased Cost of Stock Borrow:
	  	Applicable
		
	 Initial Stock Loan Rate:
	  	50 basis points per annum
		
	 Hedging Party:
	  	Deutsche for all applicable Additional Disruption Events
		
	 Determining Party:
	  	Deutsche for all applicable Additional Disruption Events. Whenever the Determining Party is required to act or exercise judgment in any way, it will do so in good faith and in a commercially
reasonable manner.
		
	 Non-Reliance:
	  	Applicable
		
	 Agreements and Acknowledgments
 Regarding Hedging Activities:
	  	Applicable
		
	 Additional Acknowledgments:
	  	Applicable
		
	4. Calculation Agent:	  	Deutsche. Whenever the Calculation Agent is required to act or exercise judgment in any way, it will do so in good faith and in a commercially reasonable manner. The Calculation Agent shall,
upon request, make available to Company such information used by it to make any calculation or determination under this Transaction as may be

  

 7 

			
		 	 reasonably necessary in order to enable the other to independently confirm the accuracy of such calculation or determination (for the avoidance of doubt, such
information shall not include any proprietary models of Deutsche).

 5. Account Details: 
  

	 	(a)	Account for payments to Company: 

 Citibank, NA 

New York, NY 
 SWIFT Code: CITIUS33

 Federal ABA No: 021000089 
 Beneficiary: Newmont Mining Corporation 
 Account No: 30561263 
 Account for delivery of Shares from Company: 
 To be provided by Company 
  

	 	(b)	Account for payments to Deutsche: 

 Bank of New York

 ABA 021-000-018 
 Deutsche Bank
Securities Inc. 
 A/C 8900327634 
 FFC: 145-91028-10 
 Account for delivery of Shares from Deutsche: 
 To be provided 
 6. Offices: 
 The Office of Company for the Transaction is: Inapplicable, Company is not a Multibranch Party. 
 The Office of Deutsche for the Transaction is: London 
 Deutsche Bank AG, London Branch 
 Winchester house 
 1 Great Winchester St,

 London EC2N 2DB 
 7. Notices: For purposes of
this Confirmation: 
  

	 	(a)	Address for notices or communications to Company: 

 Newmont
Mining Corporation 
 1700 Lincoln Street 
 Denver, Colorado 80203 
 Attention: Treasurer 
 Telephone No.: (303) 863-7414 
 Facsimile No.: (303) 837-5837 
  

 8 

	 	(b)	Address for notices or communications to Deutsche: 

 Deutsche Bank AG London 
 c/o Deutsche Bank Securities Inc. 
 60 Wall Street 
 New York, NY 10005

 Attention: Documentation Department 
 Telephone No.: (212) 250-5977 
 Facsimile No.: (212) 797-8826 
 8. Representations and Warranties 
  

	 	(a)	In addition to the representations and warranties contained in Section 3 of the Agreement, Company hereby represents and warrants, as of the Trade Date, to Deutsche that:

  

	 	i.	The representations and warranties of Company set forth in Section 3 of the Purchase Agreement dated as of July 11, 2007 among Company, J.P. Morgan Securities Inc. and
Citigroup Global Markets Inc. as representatives of the Initial Purchasers party thereto (the “Purchase Agreement”) are true and correct and are hereby deemed to be repeated to Deutsche, as of the Trade Date, as if set forth herein.

  

	 	ii.	Neither the execution and delivery of this Confirmation nor the incurrence or performance of obligations of Company hereunder will (i) conflict with or result in a breach of
any agreement or instrument to which Company or any of its subsidiaries is a party or by which Company or any of its subsidiaries is bound or to which Company or any of its subsidiaries is subject (including, but not limited to, any agreements and
contracts of Company or any of its subsidiaries filed as exhibits to Company’s Annual Report on Form 10-K for the year ended December 31, 2006, incorporated by reference in the Offering Memorandum), except for any such conflict that would
not, individually or in the aggregate, have a material adverse effect on the business, properties, management, financial position, results of operations or prospects of Company and its subsidiaries taken as a whole or on the performance by Company
of its obligations under the Transaction (“Material Adverse Effect”) or (ii) constitute a default under, or result in the creation of any lien under, any such agreement or instrument, except for any such default or lien that
would not, individually or in the aggregate, have a Material Adverse Effect. 

  

	 	iii.	On the Trade Date (A) none of Company, its affiliates and its officers and directors is aware of any material nonpublic information regarding Company or the Shares and
(B) all reports and other documents filed by Company with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”) when considered as a whole (with the more recent
such reports and documents deemed to amend inconsistent statements contained in any earlier such reports and documents), do not contain any untrue statement of a material fact or any omission of a material fact required to be stated therein or
necessary to make the statements therein, in the light of the circumstances in which they were made, not misleading; provided that Company shall be deemed to repeat the representation contained in this Section 8(a)(iii) on each day
during the Hedging Period. 

  

	 	iv.	(A) On the Trade Date, the Shares or securities that are convertible into, or exchangeable or exercisable for Shares, are not, and will not be, subject to a “restricted
period,” as such term is defined in Regulation M under the Exchange Act (“Regulation M”) and (B) Company is not engaged in and will not engage in any “distribution,” as such term is defined in Regulation M, other
than a distribution meeting the requirements of the exceptions set forth in sections 101(b)(10) and 102(b)(7) of Regulation M, until the second Exchange Business Day immediately following the last day of the Hedging Period. 

 

 9 

	 	v.	Company is not entering into this Confirmation to create actual or apparent trading activity in the Shares (or any security convertible into or exchangeable or exercisable for
Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable or exercisable for Shares) or otherwise in violation of the Exchange Act. 

  

	 	vi.	Without limiting the generality of Section 3(a)(iii) of the Agreement, the Transaction will not violate Rule 13e-1 or Rule 13e-4 under the Exchange Act.

  

	 	vii.	Company is not, and after giving effect to the transactions contemplated hereby will not be required to register as, an “investment company” as such term is defined in the
Investment Company Act of 1940, as amended. 

  

	 	viii.	Neither Company nor any of its affiliates has purchased any Shares in purchases of blocks (as contemplated by Rule 10b-18 under the Exchange Act) during each of the four calendar
weeks preceding the date hereof and Company further covenants and agrees that neither it or any of its affiliates will purchase any Shares prior to the last day of the Hedging Period. 

  

	 	(b)	Each of Deutsche and Company represents and warrants that it is an “eligible contract participant” as defined in Section l(a)(12) of the U.S. Commodity Exchange Act, as
amended. 

  

	 	(c)	Each of Deutsche and Company acknowledges that the offer and sale of the Transaction to it is intended to be exempt from registration under the Securities Act of 1933, as amended
(the “Securities Act”), by virtue of Section 4(2) thereof. Accordingly, each party represents and warrants to the other that (i) it has the financial ability to bear the economic risk of its investment in the Transaction
and is able to bear a total loss of its investment and its investments in and liabilities in respect of the Transaction, which it understands are not readily marketable, are not disproportionate to its net worth, and it is able to bear any loss in
connection with the Transaction, including the loss of its entire investment in the Transaction, (ii) it is an “accredited investor” as that term is defined in Regulation D as promulgated under the Securities Act, (iii) it is
entering into the Transaction for its own account and without a view to the distribution or resale thereof, (iv) the assignment, transfer or other disposition of the Transaction has not been and will not be registered under the Securities Act
and is restricted under this Confirmation, the Securities Act and state securities laws, and (v) its financial condition is such that it has no need for liquidity with respect to its investment in the Transaction and no need to dispose of any
portion thereof to satisfy any existing or contemplated undertaking or indebtedness and is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms,
conditions and risks of the Transaction. 

 9. Other Provisions: 
  

	 	(a)	Opinion. Company shall deliver to Deutsche an opinion of counsel, dated as of the Trade Date and reasonably acceptable to Deutsche in form and substance, with respect
to the matters set forth in Section 3 of the Agreement and Section 8(a)(ii) of this Confirmation. 

  

	 	(b)	Warrant Shares. Company covenants and agrees that it shall use its best efforts to, as soon as practicable, reserve for issuance upon exercise of the Warrant by the
net share settlement method 973,876 shares of its common stock (the “Warrant Shares”) by all required corporate action of Company. Upon reservation the Warrant Shares shall be duly authorized and, when issued and delivered against
payment therefor (which may include Net Share Settlement in lieu of cash) and otherwise as contemplated by the terms of the Warrant following the exercise of the Warrant in accordance with the terms and conditions of the Warrant, shall be validly
issued, fully-paid and non-assessable, and the issuance of the Warrant Shares shall not be subject to any preemptive or similar rights. 

  

 10 

	 	(c)	Repurchase Notices. Company shall, on any day on which Company effects any repurchase of Shares, promptly give Deutsche a written notice of such repurchase (a
“Repurchase Notice”) on such day if following such repurchase, the number of outstanding Shares on such day, subject to any adjustments provided herein, is (i) less than 200 million (in the case of the first such notice)
or (ii) thereafter more than 50 million less than the number of Shares included in the immediately preceding Repurchase Notice. Company agrees to indemnify and hold harmless Deutsche and its affiliates and their respective officers,
directors, employees, affiliates, advisors, agents and controlling persons (each, an “Indemnified Person”) from and against any and all losses (including losses relating to Deutsche’s hedging activities as a consequence of
becoming, or of the risk of becoming, a Section 16 “insider”, including without limitation, any forbearance from hedging activities or cessation of hedging activities and any losses in connection therewith with respect to this
Transaction), claims, damages, judgments, liabilities and expenses (including reasonable attorney’s fees), joint or several, which an Indemnified Person actually may become subject to, as a result of Company’s failure to provide Deutsche
with a Repurchase Notice on the day and in the manner specified in this paragraph, and to reimburse, within 30 days, upon written request, each of such Indemnified Persons for any reasonable legal or other expenses incurred in connection with
investigating, preparing for, providing testimony or other evidence in connection with or defending any of the foregoing. If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or
asserted against the Indemnified Person as a result of Company’s failure to provide Deutsche with a Repurchase Notice in accordance with this paragraph, such Indemnified Person shall promptly notify Company in writing, and Company, upon request
of the Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others Company may designate in such proceeding and shall pay the fees and expenses of such counsel related
to such proceeding. Company shall not be liable for any settlement of any proceeding contemplated by this paragraph that is effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff,
Company agrees to indemnify any Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Company shall not, without the prior written consent of the Indemnified Person, effect any settlement of any pending
or threatened proceeding contemplated by this paragraph that is in respect of which any Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such Indemnified Person, unless such settlement includes an
unconditional release of such Indemnified Person from all liability on claims that are the subject matter of such proceeding on terms reasonably satisfactory to such Indemnified Person. If the indemnification provided for in this paragraph is
unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then Company hereunder, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount
paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities. The remedies provided for in this paragraph are not exclusive and shall not limit any rights or remedies which may otherwise be available to any
Indemnified Person at law or in equity. The indemnity and contribution agreements contained in this paragraph shall remain operative and in full force and effect regardless of the termination of this Transaction. 

  

	 	(d)	 Transfer or Assignment. Company may not transfer any of its rights or obligations under this Transaction without the prior written consent of
Deutsche. Deutsche may, without Company’s consent, transfer or assign all or any part of its rights or obligations under this Transaction to any third party; provided, however, that Deutsche shall not transfer any of its rights or
obligations under the Transaction to any entity listed on Schedule A without Company’s consent. If after Deutsche’s commercially reasonable efforts, Deutsche is unable to effect such a transfer or assignment on pricing terms reasonably
acceptable to Deutsche and within a time period reasonably acceptable to Deutsche of a sufficient number of Warrants to reduce (i) Deutsche’s “beneficial ownership” (within the meaning of Section 13 of the Exchange Act and
rules promulgated thereunder) to 7.5% of Company’s outstanding Shares or less or (ii) the Warrant Equity Percentage to 14.5% or less, Deutsche may designate any Exchange Business Day as an Early Termination Date with respect to a portion
(the “Terminated Portion”) of this Transaction, such that (i) its “beneficial ownership” following such partial termination will be equal to or less than 7.5% or (ii) the Warrant Equity Percentage following such
partial termination will be equal to or 

  

 11 

	 	 
less than 14.5%. In the event that Deutsche so designates an Early Termination Date with respect to a portion of this Transaction, a payment shall be made
pursuant to Section 6 of the Agreement as if (i) an Early Termination Date had been designated in respect of a Transaction having terms identical to this Transaction and a Number of Warrants equal to the Terminated Portion,
(ii) Company shall be the sole Affected Party with respect to such partial termination and (iii) such Transaction shall be the only Terminated Transaction (and, for the avoidance of doubt, the provisions of paragraph 9(j) shall apply to
any amount that is payable by Company to Deutsche pursuant to this sentence). The “Warrant Equity Percentage” as of any day is the fraction (x) the numerator of which is the sum of (A) the product of (a) the Number of
Warrants multiplied by (b) the Warrant Entitlement; plus (B) the product of (a) the Number of Warrants for the Warrants Transaction between Company and Deutsche (Reference Number: 193074) (the “2014 Additional
Warrants Transaction”) multiplied by (b) the Warrant Entitlement for the 2014 Additional Warrants Transaction; plus (C) the product of (a) the Number of Warrants for the Warrants Transaction between Company and
Deutsche (Reference Number: 192482) (the “2014 Warrants Transaction”) multiplied by (b) the Warrant Entitlement for the 2014 Warrants Transaction; plus (D) the product of (a) the Number of Warrants for
the Warrants Transaction between Company and Deutsche (Reference Number: 192484) (the “2017 Warrants Transaction”) multiplied by (b) the Warrant Entitlement for the 2017 Warrants Transaction; and (y) the denominator
of which is the number of Company’s Shares outstanding on such day. Notwithstanding any other provision in this Confirmation to the contrary requiring or allowing Deutsche to purchase, sell, receive or deliver any Shares or other securities to
or from Company, Deutsche may designate any of its affiliates to purchase, sell, receive or deliver such Shares or other securities and otherwise to perform Deutsche’s obligations in respect of this Transaction and any such designee may assume
such obligations. Deutsche shall be discharged of its obligations to Company to the extent of any such performance. 

  

	 	(e)	Early Unwind. In the event the sale of the 1.625% Convertible Senior Notes due 2017 (the “Convertible Notes”) is not consummated with the initial
purchasers for any reason by the close of business in New York on July 17, 2007 (or such later date as agreed upon by the parties) (July 17, 2007 or such later date being the “Early Unwind Date”), this Transaction shall
automatically terminate (the “Early Unwind”), on the Early Unwind Date and (i) the Transaction and all of the respective rights and obligations of Deutsche and Company under the Transaction shall be cancelled and terminated and
(ii) each party shall be released and discharged by the other party from and agrees not to make any claim against the other party with respect to any obligations or liabilities of the other party arising out of and to be performed in connection
with the Transaction either prior to or after the Early Unwind Date. Deutsche and Company represent and acknowledge to the other that upon an Early Unwind, all obligations with respect to the Transaction shall be deemed fully and finally discharged.

  

	 	(f)	Dividends. If at any time during the period from but excluding the Trade Date, to and including the Expiration Date, (i) an ex-dividend date for a cash dividend
occurs with respect to the Shares (an “Ex-Dividend Date”), and that dividend differs from the Regular Dividend on a per Share basis or (ii) if no Ex-Dividend Date for a cash dividend occurs with respect to the Shares in any
quarterly dividend period of Company, then the Calculation Agent shall adjust any of the Strike Price, Number of Warrants and/or Daily Number of Warrants up or down to preserve the fair value of the Options to Deutsche after taking into account such
higher or lower dividend or lack thereof, including without limitation to account for the additional value to Deutsche resulting from any lower dividend. “Regular Dividend” shall mean for any calendar quarter, USD 0.10 for the first
cash dividend or distribution on the Shares for which the Ex-Dividend Date falls within such calendar quarter, and zero for any subsequent dividend or distribution on the Shares for which the Ex-Dividend Date falls within the same calendar quarter.

  

	 	(g)	Method of Delivery. Whenever delivery of funds or other assets is required hereunder by or to Company, such delivery shall be effected through Agent. In addition, all
notices, demands and communications of any kind relating to the Transaction between Deutsche and Company shall be transmitted exclusively through Agent. 

  

 12 

	 	(h)	Additional Provisions. 

 (i) Amendments to
the Equity Definitions: 
 (A) Section 11.2(a) of the Equity Definitions is hereby amended by deleting the words “a diluting or
concentrative” and replacing them with the words “an”; and adding the phrase “or Warrants” at the end of the sentence. 
 (B) Section 11.2(c) of the Equity Definitions is hereby amended by (x) replacing the words “a diluting or concentrative” with “an”, (y) adding the phrase “or Warrants” after the words “the
relevant Shares” in the same sentence and (z) deleting the phrase “(provided that no adjustments will be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant
Shares)” and replacing it with the phrase “(and, for the avoidance of doubt, adjustments may be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares).”

 (C) Section 11.2(e)(vii) of the Equity Definitions is hereby amended by deleting the words “a diluting or concentrative”
and replacing them with the word “an”; and adding the phrase “or Warrants” at the end of the sentence. 
 (D)
Section 12.6(a)(ii) of the Equity Definitions is hereby amended by (1) deleting from the fourth line thereof the word “or” after the word “official” and inserting a comma therefor, and (2) deleting the semi-colon
at the end of subsection (B) thereof and inserting the following words therefor “or (C) at Deutsche’s option, the occurrence of any of the events specified in Section 5(a)(vii) (1) through (9) of the ISDA Master
Agreement with respect to that Issuer.” 
  

	 	(E)	Section 12.9(b)(iv) of the Equity Definitions is hereby amended by: 

 (x) deleting (1) subsection (A) in its entirety, (2) the phrase “or (B)” following subsection (A) and (3) the phrase “in each case” in subsection (B); and 
 (y) deleting the phrase “neither the Non-Hedging Party nor the Lending Party lends Shares in the amount of the Hedging Shares or” in the
penultimate sentence. 
  

	 	(F)	Section 12.9(b)(v) of the Equity Definitions is hereby amended by: 

 (x) adding the word “or” immediately before subsection “(B)” and deleting the comma at the end of subsection (A); and 
 (y) (1) deleting subsection (C) in its entirety, (2) deleting the word “or” immediately preceding subsection (C) and (3) deleting the penultimate sentence in its entirety and replacing it
with the sentence “The Hedging Party will determine the Cancellation Amount payable by one party to the other.” 
 (ii)
Notwithstanding anything to the contrary in this Confirmation, upon the occurrence of one of the following events, with respect to this Transaction, (1) Deutsche shall have the right to designate such event an Additional Termination Event and
designate an Early Termination Date pursuant to Section 6(b) of the Agreement, and (2) Company shall be deemed the sole Affected Party and the Transaction shall be deemed the sole Affected Transaction: 
 (A) Consummation of (A) any recapitalization, reclassification or change of the Shares (other than changes resulting from a subdivision or
combination) as a result of which the Shares would be converted into, or exchanged for, stock, other securities, other property or assets or (B) any statutory share exchange, consolidation or merger involving Company pursuant to which the
Shares will be converted into cash, securities or other property or any sale, lease or other transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets of 

  

 13 

 
Company and its subsidiaries, taken as a whole, to any person other than one or more of Company’s subsidiaries, other than any transaction
(i) involving a consolidation or merger that does not result in a reclassification, conversion, exchange or cancellation of the outstanding Shares, (ii) where the holders of more than 50% of all classes of Company’s common equity
immediately prior to such transaction that is a statutory share exchange, consolidation or merger own, directly or indirectly, more than 50% of all classes of common equity of the continuing or surviving entity or transferee or the parent entity
thereof immediately after such transaction or (iii) that is effected solely to change the jurisdiction of incorporation of Company and results in a reclassification, conversion or exchange of outstanding Shares solely into shares of common
stock of the surviving entity; or 
 (B) There is a default by Company or Newmont USA Limited with respect to any Material Indebtedness (as
defined below), whether such Material Indebtedness now exists or shall hereafter be created (i) resulting in such indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become due and payable or
(ii) constituting a failure to pay the principal of any such indebtedness when due and payable at its stated maturity, upon required repurchase, upon declaration or otherwise; provided that any event of default under either of the
foregoing clauses (i) and (ii) shall be deemed cured and not to be continuing upon the payment of such indebtedness or the rescission or annulment of any acceleration of such indebtedness. “Material Indebtedness” is indebtedness
(other than indebtedness under the Convertible Notes and the 1.250% Convertible Senior Notes due 2014 issued by Company pursuant to an indenture to be dated July 17, 2007 between Company, Newmont USA Limited, as subsidiary guarantor, and The
Bank of New York, as the trustee) of any one or both of Company and Newmont USA Limited in an aggregate principal amount exceeding $75,000,000; or 
 (C) A “person” or “group” within the meaning of Section 13(d) of the Exchange Act other than Company, any of its subsidiaries or any of Company’s or its subsidiaries employee benefit plans, files a Schedule 13D
or Schedule TO (or any successor schedule, form or report) pursuant to the Exchange Act disclosing that such person has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of the common equity
of Company representing more than 50% of the voting power of all shares of such common equity entitled to vote generally in the election of directors, unless such beneficial ownership arises as a result of a revocable proxy delivered in response to
a public proxy or consent solicitation made pursuant to the applicable rules and regulations under the Exchange Act; and provided that no person or group shall be deemed to be the beneficial owner of any securities tendered pursuant to a
tender or exchange offer made by or on behalf of such person or group until such tendered securities are accepted for purchase or exchange under such offer; or 
 (D) Deutsche, despite using commercially reasonable efforts, is unable or reasonably determines, based on advice of counsel, that it is impractical or illegal, to hedge its obligations pursuant to this Transaction in
the public market without registration under the Securities Act or as a result of any legal, regulatory or self-regulatory requirements or related policies and procedures (whether or not such requirements, policies or procedures are imposed by law
or have been voluntarily adopted by Deutsche in light of legal, regulatory, or self-regulatory concerns). 
  

	 	(i)	No Collateral or Setoff. Notwithstanding any provision of the Agreement or any other agreement between the parties to the contrary, the obligations of Company
hereunder are not secured by any collateral. Obligations under this Transaction shall not be set off by Company against any other obligations of the parties, whether arising under the Agreement, this Confirmation, under any other agreement between
the parties hereto, by operation of law or otherwise. Any provision in the Agreement with respect to the satisfaction of Company’s payment obligations to the extent of Deutsche’s payment obligations to Company in the same currency and in
the same Transaction (including, without limitation Section 2(c) thereof) shall not apply to Company and, for the avoidance of doubt, Company shall fully satisfy such payment obligations notwithstanding any payment obligation to Company by
Deutsche in the same currency and in the same Transaction. 

  

 14 

	 	(j)	Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events. If, in respect of this Transaction, an amount is payable by Company to
Deutsche, (i) pursuant to Section 12.7 or Section 12.9 of the Equity Definitions (except in the event of an Insolvency, Nationalization, Tender Offer or Merger Event in which the consideration or proceeds to be paid to holders of
shares consists solely of cash) or (ii) pursuant to Section 6(d)(ii) of the Agreement (except in the event of an Event of Default in which Company is the Defaulting Party or a Termination Event in which Company is the Affected Party, other
than an Event of Default of the type described in (x) Section 5(a)(iii), (v), (vi), (vii) or (viii) of the Agreement or (y) a Termination Event of the type described in Section 5(b) of the Agreement, in the case of both
(x) and (y), resulting from an event or events outside Company’s control) (a “Payment Obligation”), Company shall have the right, in its sole discretion, to satisfy any such Payment Obligation by the Share Termination
Alternative (as defined below) by giving irrevocable telephonic notice to Deutsche, confirmed in writing within one Scheduled Trading Day, no later than 12:00 p.m. New York local time on the Merger Date, Tender Offer Date, Announcement Date (in the
case of a Nationalization, Insolvency or Delisting), Early Termination Date or date of cancellation, as applicable; provided that if Company does not validly elect to satisfy its Payment Obligation by the Share Termination Alternative,
Deutsche shall have the right to require Company to satisfy its Payment Obligation by the Share Termination Alternative. 

  

			
	 Share Termination Alternative:
	  	If applicable, Company shall deliver to Deutsche the Share Termination Delivery Property on the date (the “Share Termination Payment Date”) on which the Payment Obligation
would otherwise be due pursuant to Section 12.7 or Section 12.9 of the Equity Definitions, subject to paragraph (m)(i) below, in satisfaction, subject to paragraph (m)(ii) below, of the Payment Obligation in the manner reasonably requested by
Deutsche free of payment.
		
	 Share Termination Delivery Property:
	  	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall
adjust the amount of Share Termination Delivery Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit
Price.
		
	 Share Termination Unit Price:
	  	The value to Deutsche of property contained in one Share Termination Delivery Unit on the date such Share Termination Delivery Units are to be delivered as Share Termination Delivery
Property, as determined by the Calculation Agent in its discretion by commercially reasonable means. The Calculation Agent shall notify Company of such Share Termination Unit Price at the time of notification of the Payment Obligation. In the case
of a Private Placement of Share Termination Delivery Units that are Restricted Shares (as defined below), as set forth in paragraph (m)(i) below, the Share Termination Unit Price shall be determined by the discounted price applicable to such Share
Termination Delivery Units. In the case of a Registration Settlement of

  

 15 

			
		  	Share Termination Delivery Units that are Restricted Shares (as defined below) as set forth in paragraph (m)(ii) below, the Share Termination Unit Price shall be the Settlement Price on the
Merger Date, the Announcement Date (in the case of a Nationalization, Insolvency or Delisting) or the Early Termination Date, as applicable.
		
	 Share Termination Delivery Unit:
	  	In the case of a Termination Event, Event of Default or Delisting, one Share or, in the case of Nationalization, Insolvency, Tender Offer or Merger Event, a unit consisting of the number or
amount of each type of property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any securities) in such Nationalization, Insolvency, Tender Offer or
Merger Event. If such Nationalization, Insolvency, Tender Offer or Merger Event involves a choice of consideration to be received by holders, such holder shall be deemed to have elected to receive the maximum possible amount of
cash.
		
	 Failure to Deliver:
	  	Inapplicable
		
	 Other applicable provisions:
	  	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9, 9.11 and 9.12 (as modified above) of the Equity Definitions will be applicable, except that all references
in such provisions to “Physically-settled” shall be read as references to “Share Termination Settled” and all references to “Shares” shall be read as references to “Share Termination Delivery Units”.
“Share Termination Settled” in relation to this Transaction means that Share Termination Alternative is applicable to this Transaction.

  

	 	(k)	 Registration/Private Placement Procedures. If, in the reasonable opinion of Deutsche, following any delivery of Shares or Share Termination Delivery
Property to Deutsche hereunder, such Shares or Share Termination Delivery Property would be in the hands of Deutsche subject to any applicable restrictions with respect to any registration or qualification requirement or prospectus delivery
requirement for such Shares or Share Termination Delivery Property pursuant to any applicable federal or state securities law (including, without limitation, any such requirement arising under Section 5 of the Securities Act as a result of such
Shares or Share Termination Delivery Property being “restricted securities”, as such term is defined in Rule 144 under the Securities Act, or as a result of the sale of such Shares or Share Termination Delivery Property being subject to
paragraph (c) of Rule 145 under the Securities Act) (such Shares or Share Termination Delivery Property, “Restricted Shares”), then delivery of such Restricted Shares shall be effected pursuant to either clause (i) or
(ii) below at the election of Company, unless Deutsche waives the need for registration/private placement procedures set forth in (i) and (ii) below. Notwithstanding the foregoing, solely in respect of any Daily Number of Warrants
exercised or deemed exercised on any Expiration Date, Company shall elect, prior to the first Settlement Date for the first Expiration Date, a Private Placement Settlement or Registration Settlement for all deliveries of Restricted Shares for all
such Expiration Dates which election shall be applicable to all Settlement Dates for such Warrants and the procedures in clause (i) or clause (ii) below shall apply for all such delivered Restricted Shares on an aggregate basis commencing
after the final 

  

 16 

	 	 
Settlement Date for such Warrants. The Calculation Agent shall make reasonable adjustments to settlement terms and provisions under this Confirmation to
reflect a single Private Placement or Registration Settlement for such aggregate Restricted Shares delivered hereunder. 

  

	 	(i)	If Company elects to settle the Transaction pursuant to this clause (i) (a “Private Placement Settlement”), then delivery of Restricted Shares by Company shall
be effected in customary private placement procedures with respect to such Restricted Shares commercially reasonably acceptable to Deutsche; provided that Company may not elect a Private Placement Settlement if, on the date of its election,
it has taken, or caused to be taken, any action that would make unavailable either the exemption pursuant to Section 4(2) of the Securities Act for the sale by Company to Deutsche (or any affiliate designated by Deutsche) of the Restricted
Shares or the exemption pursuant to Section 4(1) or Section 4(3) of the Securities Act for resales of the Restricted Shares by Deutsche (or any such affiliate of Deutsche). The Private Placement Settlement of such Restricted Shares shall
include customary representations, covenants, blue sky and other governmental filings and/or registrations, indemnities to Deutsche, commercially reasonable opportunity to conduct due diligence investigation in compliance with applicable law with
respect to Company customary in scope for private placements of equity securities (including, without limitation, the right to have made available for inspection all financial and other records, pertinent corporate documents and other information
reasonably requested by Deutsche or any designated buyer of the Restricted Shares, subject to execution by such recipients of customary confidentiality agreements reasonably acceptable to Company, opinions and certificates, and such other
documentation as is customary for private placement agreements, all reasonably acceptable to Deutsche. In the case of a Private Placement Settlement, Deutsche shall determine the appropriate discount to the Share Termination Unit Price (in the case
of settlement of Share Termination Delivery Units pursuant to paragraph (l) above) or any Settlement Price (in the case of settlement of Shares pursuant to Section 2 above) applicable to such Restricted Shares in a commercially reasonable
manner and appropriately adjust the number of such Restricted Shares to be delivered to Deutsche hereunder; provided that in no event shall such number be greater than 973,876 (the “Maximum Amount”). Notwithstanding the
Agreement or this Confirmation, the date of delivery of such Restricted Shares shall be the Exchange Business Day following notice by Deutsche to Company, of such applicable discount and the number of Restricted Shares to be delivered pursuant to
this clause (i). For the avoidance of doubt, delivery of Restricted Shares shall be due as set forth in the previous sentence and not be due on the Share Termination Payment Date (in the case of settlement of Share Termination Delivery Units
pursuant to paragraph (l) above) or on the Settlement Date for such Restricted Shares (in the case of settlement in Shares pursuant to Section 2 above). 

 In the event Company shall not, as a result of the proviso above relating to the Maximum Amount, have delivered the full number of Restricted Shares
otherwise applicable (such deficit, the “Deficit Restricted Shares”), Company shall be continually obligated to deliver, from time to time until the full number of Deficit Restricted Shares have been delivered pursuant to this
paragraph, Restricted Shares when, and to the extent, that (i) Shares are repurchased, acquired or otherwise received by Company or any of its subsidiaries after the Trade Date (whether or not in exchange for cash, fair value or any other
consideration), (ii) authorized and unissued Shares reserved for issuance in respect of other transactions prior to such date which prior to the relevant date become no longer so reserved and (iii) Company additionally authorizes any
unissued Shares that are not reserved for other transactions. Company shall immediately notify Deutsche of the occurrence of any of the foregoing events (including the number of Shares subject to clause (i), (ii) or (iii) and the
corresponding number of Restricted Shares to be delivered) and promptly deliver such Restricted Shares thereafter. 
  

 17 

 In the event of a Private Placement Settlement, the Net Share Settlement Amount or the Payment
Obligation, respectively, shall be deemed to be the Net Share Settlement Amount or the Payment Obligation, respectively, plus an additional amount of Shares or Share Termination Delivery Property (determined from time to time by the Calculation
Agent in its commercially reasonable judgment) attributable to interest that would be earned on such Net Share Settlement Amount or the Payment Obligation, respectively, (increased on a daily basis to reflect the accrual of such interest and reduced
from time to time by the amount of net proceeds received by Deutsche as provided herein) at a rate equal to the open Federal Funds Rate plus the Spread for the period from, and including, such Settlement Date or the date on which the Payment
Obligation is due, respectively, to, but excluding, the related date on which all the Restricted Shares have been sold and calculated on an Actual/360 basis. The foregoing provision shall be without prejudice to Deutsche’s rights under the
Agreement (including, without limitation, Sections 5 and 6 thereof). 
 As used in this Section, “Spread” means, with
respect to any Net Share Settlement Amount or Payment Obligation, respectively, the credit spread over the applicable overnight rate that would be imposed if Deutsche were to extend credit to Company in an amount equal to such Net Share Settlement
Amount, all as determined by the Calculation Agent using its commercially reasonable judgment as of the related Settlement Date or the date on which the Payment Obligation is due, respectively. Commercial reasonableness shall take into consideration
all factors deemed relevant by the Calculation Agent, which are expected to include, among other things, the credit quality of Company (and any relevant affiliates) in the then-prevailing market and the credit spread of similar companies in the
relevant industry and other companies having a substantially similar credit quality. 
  

	 	(ii)	 If Company elects to settle the Transaction pursuant to this clause (ii) (a “Registration Settlement”), then Company shall promptly (but in
any event no later than the beginning of the Resale Period) file and use its reasonable best efforts to make effective under the Securities Act a registration statement or supplement or amend an outstanding registration statement in form and
substance commercially reasonably satisfactory to Deutsche, to cover the resale of such Restricted Shares in accordance with customary resale registration procedures, including covenants, conditions, representations, underwriting discounts (if
applicable), commissions (if applicable), indemnities, a reasonable opportunity to conduct a due diligence investigation with respect to Company that is customary in scope for underwritten offerings of equity securities, opinions and certificates,
and such other documentation as is customary for equity resale underwriting agreements, all reasonably acceptable to Deutsche. If Deutsche, in its sole reasonable discretion, is not satisfied with such procedures and documentation Private Placement
Settlement shall apply. If Deutsche is satisfied with such procedures and documentation, it shall sell the Restricted Shares pursuant to such registration statement during a period (the “Resale Period”) commencing on the Exchange
Business Day following delivery of such Restricted Shares (which, for the avoidance of doubt, shall be (x) any Settlement Date in the case of an exercise of Warrants prior to the first Expiration Date pursuant to Section 2 above,
(y) the Share Termination Payment Date in case of settlement in Share Termination Delivery Units pursuant to paragraph (l) above or (z) the Settlement Date in respect of the final Expiration Date for all Daily Number of Warrants) and
ending on the earliest of (i) the Exchange Business Day on which Deutsche completes the sale of all Restricted Shares or, in the case of settlement of Share Termination Delivery Units, a sufficient number of Restricted Shares so that the
realized net proceeds of such sales equals or exceeds the Payment Obligation (as defined above), (ii) the date upon which all Restricted Shares have been sold or transferred pursuant to Rule 144 (or similar provisions then in force) or Rule
145(d)(1) or (2) (or any similar provision then in force) under the Securities Act and (iii) the date upon which all Restricted Shares may be sold or transferred by a non-affiliate pursuant to Rule 144(k) (or any similar provision then in
force) or Rule 145(d)(3) (or any similar provision then in force) under the Securities Act. If the Payment 

  

 18 

	 	 
Obligation exceeds the realized net proceeds from such resale, Company shall transfer to Deutsche by the open of the regular trading session on the Exchange
on the Exchange Trading Day immediately following the last day of the Resale Period the amount of such excess (the “Additional Amount”) in cash or in a number of Shares (“Make-whole Shares”) in an amount that, based
on the Settlement Price on the last day of the Resale Period (as if such day was the “Valuation Date” for purposes of computing such Settlement Price), has a dollar value equal to the Additional Amount. The Resale Period shall continue to
enable the sale of the Make-whole Shares. If Company elects to deliver the Additional Amount in Shares, the requirements and provisions for Registration Settlement or Private Placement Settlement shall apply to such Additional Amount. This provision
shall be applied successively until the Additional Amount is equal to zero. In no event shall Company deliver a number of Restricted Shares greater than the Maximum Amount. 

  

	 	(iii)	Without limiting the generality of the foregoing, Company agrees that any Restricted Shares delivered to Deutsche, as purchaser of such Restricted Shares, (i) may be
transferred by and among Deutsche and its affiliates and Company shall effect such transfer without any further action by Deutsche and (ii) after the minimum “holding period” within the meaning of Rule 144(d) under the Securities Act
has elapsed after any Settlement Date for such Restricted Shares, Company shall promptly remove, or cause the transfer agent for such Restricted Shares to remove, any legends referring to any such restrictions or requirements from such Restricted
Shares upon delivery by Deutsche (or such affiliate of Deutsche) to Company or such transfer agent of seller’s and broker’s representation letters customarily delivered by Deutsche in connection with resales of restricted securities
pursuant to Rule 144 under the Securities Act, without any further requirement for the delivery of any certificate, consent, agreement, opinion of counsel, notice or any other document, any transfer tax stamps or payment of any other amount or any
other action by Deutsche (or such affiliate of Deutsche). 

 For the avoidance of doubt, nothing in this Section 9(k)
regarding private placement shall be read as requiring the Company to deliver cash in respect of the settlement of the Transaction contemplated by this Confirmation. 
  

	 	(l)	Limit on Beneficial Ownership. Notwithstanding any other provisions of the Agreement or this Confirmation, Deutsche may not exercise any Warrant hereunder or be
entitled to take delivery of any Shares deliverable hereunder, and Automatic Exercise shall not apply with respect to any Warrant hereunder, to the extent (but only to the extent) that, after such receipt of any Shares upon the exercise of such
Warrant or otherwise hereunder, Deutsche would directly or indirectly beneficially own (as such term is defined for purposes of Section 13(d) of the Exchange Act) in excess of 8.0% of the outstanding Shares. Any purported delivery hereunder
shall be void and have no effect to the extent (but only to the extent) that, after such delivery, Deutsche would directly or indirectly so beneficially own in excess of 8.0% of the outstanding Shares. If any delivery owed to Deutsche hereunder is
not made, in whole or in part, as a result of this provision, Company’s obligation to make such delivery shall not be extinguished and Company shall make such delivery as promptly as practicable after, but in no event later than one Business
Day after, Deutsche gives notice to Company that, after such delivery, Deutsche would not directly or indirectly so beneficially own in excess of 8.0% of the outstanding Shares. 

  

	 	(m)	 Share Deliveries. Company acknowledges and agrees that, unless Company has reason, upon the advice of counsel, to believe otherwise at the applicable
time, to the extent the holder of this Warrant is not then an affiliate and has not been an affiliate for 90 days (it being understood that Deutsche will not be considered an affiliate under this paragraph solely by reason of its receipt of Shares
pursuant to this Transaction), and otherwise satisfies all holding period and other requirements of Rule 144 of the Securities Act applicable to it, any delivery of Shares or Share Termination Delivery Property hereunder at any time after 2 years
from the Trade Date shall be eligible for resale under Rule 144(k) of the Securities Act and Company agrees to promptly remove, or cause the transfer agent for such Shares or Share Termination 

  

 19 

	 	 
Delivery Property, to remove, any legends referring to any restrictions on resale under the Securities Act from the Shares or Share Termination Delivery
Property. Company further agrees, for any delivery of Shares or Share Termination Delivery Property hereunder at any time after 1 year from the Trade Date but within 2 years of the Trade Date, to the extent the holder of this Warrant then satisfies
the holding period and other requirements of Rule 144 of the Securities Act, to promptly remove, or cause the transfer agent for such Restricted Share to remove, any legends referring to any such restrictions or requirements from such Restricted
Shares. Such Restricted Shares will be de-legended upon delivery by Deutsche (or such affiliate of Deutsche) to Company or such transfer agent of customary seller’s and broker’s representation letters in connection with resales of
restricted securities pursuant to Rule 144 of the Securities Act, without any further requirement for the delivery of any certificate, consent, agreement, opinion of counsel, notice or any other document, any transfer tax stamps or payment of any
other amount or any other action by Deutsche (or such affiliate of Deutsche). Company further agrees that any delivery of Shares or Share Termination Delivery Property prior to the date that is 1 year from the Trade Date, may be transferred by and
among Deutsche and its affiliates and Company shall effect such transfer without any further action by Deutsche. Notwithstanding anything to the contrary herein, Company agrees that any delivery of Shares or Share Termination Delivery Property shall
be effected by book-entry transfer through the facilities of DTC, or any successor depositary, if at the time of delivery, such class of Shares or class of Share Termination Delivery Property is in book-entry form at DTC or such successor
depositary. Notwithstanding anything to the contrary herein, to the extent the provisions of Rule 144 of the Securities Act or any successor rule are amended, or the applicable interpretation thereof by the Securities and Exchange Commission or any
court change after the Trade Date, the agreements of Company herein shall be deemed modified to the extent necessary, in the opinion of outside counsel of Company, to comply with Rule 144 of the Securities Act, including Rule 144(k) as in effect at
the time of delivery of the relevant Shares or Share Termination Delivery Property. 

  

	 	(n)	Governing Law. New York law (without reference to choice of law doctrine). 

  

	 	(o)	Waiver of Jury Trial. Each party waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any suit, action or
proceeding relating to this Transaction. Each party (i) certifies that no representative, agent or attorney of the other party has represented, expressly or otherwise, that such other party would not, in the event of such a suit, action or
proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party have been induced to enter into this Transaction, as applicable, by, among other things, the mutual waivers and certifications provided herein.

  

	 	(p)	Tax Disclosure. Effective from the date of commencement of discussions concerning the Transaction, Company and each of its employees, representatives, or other agents
may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that are provided to Company relating to such tax
treatment and tax structure. 

  

	 	(q)	Maximum Share Delivery. Notwithstanding any other provision of this Confirmation or the Agreement, in no event will Company be required to deliver more than the
Maximum Amount of Shares in the aggregate to Deutsche in connection with this Transaction, subject to the provisions regarding Deficit Restricted Shares. 

  

	 	(r)	Right to Extend. Deutsche may postpone, in whole or in part, any Expiration Date or any other date of valuation or delivery with respect to some or all of the relevant
Warrants (in which event the Calculation Agent shall make appropriate adjustments to the Daily Number of Warrants with respect to one or more Expiration Dates) if Deutsche determines, in its commercially reasonable judgment, that such extension is
reasonably necessary or appropriate to preserve Deutsche’s hedging or hedge unwind activity hereunder in light of existing liquidity conditions or to enable Deutsche to effect purchases of Shares in connection with its hedging, hedge unwind or
settlement activity hereunder in a manner that would, if Deutsche were Issuer or an affiliated purchaser of Issuer, be in compliance with applicable legal, regulatory or self-regulatory requirements, or with related policies and procedures
applicable to Deutsche. 

  

 20 

	 	(s)	Status of Claims in Bankruptcy. Deutsche acknowledges and agrees that this Confirmation is not intended to convey to Deutsche rights against Company with respect to
the Transaction that are senior to the claims of common stockholders of Company in any U.S. bankruptcy proceedings of Company; provided that nothing herein shall limit or shall be deemed to limit Deutsche’s right to pursue remedies in
the event of a breach by Company of its obligations and agreements with respect to the Transaction; provided, further, that nothing herein shall limit or shall be deemed to limit Deutsche’s rights in respect of any transactions
other than the Transaction. For the avoidance of doubt, the parties acknowledge that this Confirmation is not secured by any collateral that would otherwise secure the obligations of Company herein under or pursuant to any other agreement.

  

	 	(t)	Securities Contract; Swap Agreement. The parties hereto intend for: (a) the Transaction to be a “securities contract” and a “swap agreement”
as defined in the Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”), and the parties hereto to be entitled to the protections afforded by, among other Sections, Sections 362(b)(6), 362(b)(17), 546(e),
546(g), 555 and 560 of the Bankruptcy Code; (b) a party’s right to liquidate the Transaction and to exercise any other remedies upon the occurrence of any Event of Default under the Agreement with respect to the other party to constitute a
“contractual right” as described in the Bankruptcy Code; and (c) each payment and delivery of cash, securities or other property hereunder to constitute a “margin payment” or “settlement payment” and a
“transfer” as defined in the Bankruptcy Code. 

  

 21 

 This Confirmation may be executed in several counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument. 
 Company hereby agrees to check this Confirmation and to confirm that the foregoing correctly sets
forth the terms of the Transaction by signing in the space provided below and returning to Deutsche a facsimile of the fully-executed Confirmation to Deutsche at 44 113 336 2009. Originals shall be provided for your execution upon your request.

 We are very pleased to have executed the Transaction with you and we look forward to completing other transactions with you in the near future.

 Very truly yours, 
  

			
	 DEUTSCHE BANK AG LONDON

		
	 By:
	 	 /s/ Lee Frankenfield

	 Name:
	 	Lee Frankenfield
	 Title:
	 	Managing Director
		
	 By:
	 	 /s/ Andrea Leung

	 Name:
	 	Andrea Leung
	 Title:
	 	

  

			
	 DEUTSCHE BANK SECURITIES INC.,

	 acting solely as Agent in connection with this Transaction

		
	 By:
	 	 /s/ Lee Frankenfield

	 Name:
	 	Lee Frankenfield
	 Title:
	 	Managing Director
		
	 By:
	 	 /s/ Andrea Leung

	 Name:
	 	Andrea Leung
	 Title:
	 	

 Counterparty hereby agrees to, accepts and confirms the terms of the foregoing as of the Trade Date. 

 

			
	NEWMONT MINING CORPORATION
		
	 By:
	 	 /s/ Thomas P. Mahoney

	Authorized Signatory
	 Name:
	 	Thomas P. Mahoney, Vice President and TreasurerAnnual Incentive Compensation Payroll Practice of Registrant

 Exhibit 10.34 
  

 ANNUAL INCENTIVE COMPENSATION PAYROLL PRACTICE 
 As Amended and Restated Effective January 1, 2007 
  

 Exhibit                      
 TABLE
OF CONTENTS 
  

			
	 	  	PAGE
	SECTION I-DEFINITIONS	  	1-6
		
	SECTION II-ELIGIBILITY	  	6-7
		
	SECTION III-CORPORATE PERFORMANCE BONUS	  	7-9
		
	SECTION IV-PERSONAL PERFORMANCE BONUS	  	9-10
		
	SECTION V-PAYMENT OF BONUS	  	10
		
	SECTION VI-CHANGE OF CONTROL	  	10-11
		
	SECTION VII-GENERAL PROVISIONS	  	11-12

 NEWMONT ANNUAL INCENTIVE COMPENSATION PAYROLL PRACTICE 
 (Effective as of January 1, 2007) 
 PURPOSE 
 The purpose of this payroll practice is to provide to those employees of Newmont Mining and its Affiliated
Entities that participate in this payroll practice 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 payroll practice is intended to be a payroll practice described in Department of Labor Regulation
Section 2510.3-1(b) 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, 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” “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 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 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 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 actual gross base earnings during the calendar year,
exclusive of any military pay. If an Employee does not receive a W-2, his “Bonus Eligible Earnings” shall be determined on the basis of his 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 

  

 1 

 
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 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 corporation (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 and the combined voting power of the then outstanding voting securities entitled to vote generally in the 

  

 2 

 
election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation or other
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 corporation resulting
from such Business Combination, any employee benefits plan (or related trust) of Newmont Mining or its Affiliate or any 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, such Parent Company) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of
common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation entitled to vote generally in the election of directors, 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
“Compensation Committee” means the Compensation Committee of the Board of Directors of Newmont Mining. 
 1.7
“Consolidated Capital Expenditures” means Newmont Mining’s total capital expenditures on an accrual basis measured against total capital expenditures on an accrual basis as approved by the Board, adjusted from time to time
by the Board. (Target is adjusted as follows: Boddington Australian dollar denominated budgeted capital expenditures are adjusted for the actual Aus$/US$ exchange rate.) 
 1.8 “Consolidated Costs Applicable to Sales - Gold” means audited, US GAAP consolidated costs applicable to sales for gold,
measured against the budgeted consolidated costs applicable to sales for gold per the approved business plan; provided, however, that Consolidated Costs Applicable to Sales shall be adjusted for copper on a gold equivalent ounce basis for the
employees directly associated with the Batu Hijau mine. 
  

 3 

 1.9 “Consolidated Net Cash from Operations” means Newmont Mining’s net cash
from operations based on the audited, US GAAP Statement of Consolidated Cash Flows, excluding individual payments or receipts greater than $10 million for unbudgeted liabilities and/or legal settlements, measured against budgeted consolidated
net cash from operations per the approved business plan (business plan target adjusted based on $650/oz gold pricing), and adjusted for fluctuations in the gold price. 
 1.10 “Corporate Performance Bonus” means the bonus payable to an Employee pursuant to Section III. 
 1.11 “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 or a successor plan. 
 1.12 “Equity Ounces Sold - Gold” means the reported
equity ounces of gold sold for the applicable calendar year, measured against the budgeted equity ounces of gold sold per the approved business plan; provided, however, that Equity Ounces Sold shall be adjusted for equity copper ounces sold on a
gold equivalent basis for those employees directly associated with the Batu Hijau mine. 
 1.13 “Economic Performance
Driver” means Equity Ounces Sold - Gold, Consolidated Net Cash from Operations, Reserve Growth, Consolidated Capital Expenditures and Consolidated Costs Applicable to Sales - Gold. 
 1.14 “Employee” means an employee of Newmont Mining or an Affiliated Entity who satisfied the conditions for this payroll
practice 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 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. 
 1.15 “Key Objectives” means the key results expected by the end of the review period for an Employee, as established and
administered through Newmont Mining’s performance management system. 
  

 4 

 1.16 “Newmont Mining” means Newmont Mining Corporation. 
 1.17 “Participating Employer” means Newmont Mining and any Affiliated Entity that enters into a participation agreement with the
Board or its delegate which identifies such entity as a Participating Employer in this payroll practice. 
 1.18 “Pay
Grade” means those jobs sharing a common salary range, as designated by the Board or its delegate. 
 1.19
“Performance Rating Category” means the numerical category used to classify the performance of each Employee in accordance with Newmont Mining’s performance management system. 
 1.20 “Personal Performance Bonus” means the bonus payable to an Employee based on the individual performance of such Employee, as
set forth in Section 4.2. 
 1.21 “Personal Performance Bonus Factor” means the factor used to determine an
Employee’s Personal Performance Bonus, based upon the Performance Rating Category assigned to the Employee, in accordance with Section 4.1. 
 1.22 “Position(s)” means the defined job(s) held by an Employee during the calendar year. 
 1.23 “Reserve Growth” means year on year gold reserve growth as reported under SEC Industry Guide 7. This includes reserve additions from acquisitions. This is calculated as a percentage change as follows: current
year-end reserves divided by prior year-end reserve less divestitures minus one. [Current year-end reserves/(Prior year-end reserves less divestitures) -1]. 
 1.24 “Terminated Eligible Employee” means an 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 severance (excluding severance under the Severance Plan of Newmont). The Vice President of Human Resources of Newmont Mining (or his or
her delegate) may, in his/her sole discretion, also designate in writing other Employees who terminate employment during the calendar year under other circumstances as “Terminated Eligible Employees.” 
 SECTION II-ELIGIBILITY 
 All
Employees of Newmont Mining and/or a Participating Employer are potentially eligible to receive a bonus payment under this payroll practice, provided (i) they are on the payroll of Newmont Mining and/or a Participating Employer as of the last
day of the calendar year, and at the time of payment, or (ii) they are a Terminated Eligible Employee with respect to such calendar year. Otherwise eligible Employees who are on short-term disability under the Short-Term Disability Plan of
Newmont or a similar or a 

  

 5 

 
successor plan or not working because of a work-related injury as of the last day of the calendar year shall be eligible to receive a bonus under
clause (i). Notwithstanding the foregoing provisions of this paragraph, the Compensation Committee or the Vice President of Human Resources (or his or her delegate) may, prior to the end of the calendar year, exclude from eligibility for
participation under this payroll practice with respect to the calendar year any Employee or Employees, as he or she may determine in his or her sole discretion. 
 SECTION III-CORPORATE PERFORMANCE BONUS 
 3.1 Eligibility for Corporate Performance
Bonus Component. For the calendar year, the Corporate Performance Bonus will be determined pursuant to this section for each eligible Employee who is (a) in Pay Grade 109 and above on the last day of the calendar year and at the
time the payment is made (or was in such Pay Grade at the time of termination of employment); (b) each eligible Employee who is in Pay Grade 108 and below who is employed by the corporate office (including expatriate assignments) or at a
non-operating site location, as determined by the Vice President of Human Resources (or his or her delegate), on the last day of the calendar year and at the time payment is made (or was in such Pay Grade and at such location at the time of
termination of employment); and (c) any other employee or class of employees as determined by the Vice President of Human Resources (or his or her delegate). For the calendar year, the performance bonus for each eligible Employee who is in Pay
Grade 108 or below on the last day of the calendar year and at the time the payment is made (or was in such Pay Grade at the time of termination of employment) and who is not assigned to the corporate office or at a non-site location, will be
determined in accordance with such performance factors, weighting factors and other methods of bonus determination as shall be established for each specific site or region by Newmont Mining for the calendar year, rather than the Corporate
Performance Bonus. Each operating site shall develop its own critical performance indicators for this purpose. 
 3.2 Target Amounts
for Economic Performance Drivers. The Compensation Committee shall establish both the targets and the minimum and maximum amounts for each Economic Performance Driver on an annual basis. The target Equity Ounces Sold - Gold, the target
Consolidated Net Cash from Operations, the target Consolidated Capital Expenditures, the target Consolidated Costs Applicable to Sales - Gold together with the applicable minimums and maximums for each such Economic Performance Driver, shall be
established in United States dollars and cents and the target and minimum and maximum Reserve Growth shall be established as a percentage. Targets will be adjusted for acquisitions or divestitures as approved by the Newmont Board of Directors.

 3.3 Actual Performance for Economic Performance Drivers. As soon as possible after the end of each calendar year, the
Compensation Committee shall certify the extent to which actual performance met the target amounts for each Economic Performance Driver. 
  

 6 

 3.4 Aggregate Payout Percentage. An aggregate payout factor (the “Aggregate Payout
Percentage”) will be calculated as follows: 
 (i) 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”) calculated as follows:

  

	 	•	 	 If the actual amount is less than the minimum amount, the Performance Percentage is zero; 

  

	 	•	 	 If the actual amount is equal to the minimum amount, the Performance Percentage is 50%; 

  

	 	•	 	 If the actual amount is less than the target amount and greater than the minimum amount, the Performance Percentage is the sum of (A) 50%, plus (B) the
product of 50%, times a fraction, the numerator of which is the difference between the actual amount and the minimum amount, and the denominator of which is the difference between the target amount and the minimum amount;

  

	 	•	 	 If the actual amount is equal to the target amount, the Performance Percentage is 100%; 

  

	 	•	 	 If the actual amount is greater than the target amount and less than the maximum amount, the Performance Percentage is the sum of (A) 100%, plus (B) a
fraction, the numerator of which is the difference between the actual amount and the target amount, and the denominator of which is the difference between the maximum amount and the target amount; and 

  

	 	•	 	 If the actual amount is greater than or equal to the maximum amount, the Performance Percentage is 200%. 

 (ii) 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”). 
 (iii) 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. 
  

 7 

 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 as follows: 
 Target Performance Level x Year to Date Bonus Eligible Earnings = Corporate Performance
Bonus Payable 
 3.8 Adjustments. The 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 Compensation Committee deems appropriate. 
 SECTION IV-PERSONAL PERFORMANCE BONUS 
 4.1 Personal Performance Level. At the end of the calendar year, each eligible Employee’s supervisor will evaluate the Employee and rate the Employee’s personal performance level. The Personal Performance Bonus for
the Chief Executive Officer of Newmont Mining shall be determined by the Compensation Committee. In accordance with Newmont Mining’s performance management system, the supervisor will rate the degree to which the Employee met the key objectives
that were established for the Employee and performed in accordance with Newmont’s values during the calendar year. Each Employee will be rated by the Employee’s supervisor in one of Newmont Mining’s Performance Rating Categories. In
conjunction with these ratings, Newmont Mining will assign a Personal Performance Bonus Factor for the Employee as listed in Appendix C which Personal Performance Bonus Factor may be greater or smaller than the Personal Performance Bonus Factor
set forth in Appendix C as determined in the sole discretion of Newmont Mining. 
 4.2 Determination of Personal Performance
Bonus. Subject to Section 4.3, an eligible Employee’s Personal Performance Bonus is determined by multiplying the eligible Employee’s Bonus Eligible Earnings times the applicable percentage from the Target Performance Level,
as set forth in Appendix C times the Personal Performance Bonus Factor determined pursuant to Section 4.1. 
 4.3 Terminated
Eligible Employees. Terminated Eligible Employees shall be eligible to receive a Personal Performance Bonus based upon an assumed Personal Performance Bonus Factor of 1.0, so that the Terminated Eligible Employees will receive a Personal
Performance Bonus at their individual Target Performance Level multiplied by their Bonus Eligible Earnings for the calendar year. 
  

 8 

 4.4 Ineligible Employees. Eligible Employees whose Personal Performance Bonus Factor
(determined pursuant to Section 4.1) is less than .20 shall not be eligible to receive a Personal Performance Bonus. 
 4.5
Adjustments of Personal Performance Bonus. The Compensation Committee may adjust the Personal Performance Bonus Factor or any measure or otherwise increase the Personal Performance Bonus otherwise payable in order to reflect changed
circumstances or such other matters as the Compensation Committee deems appropriate. 
 SECTION V-PAYMENT OF BONUS 

5.1 Pay Grade. If an 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. 
 5.2 Time and Method of Payment. The aggregate of any and all bonuses payable under
this payroll practice shall be payable to each eligible Employee (other than Terminated Eligible Employees) in cash as soon as practicable following approval of bonuses by the Compensation Committee. Terminated Eligible Employees shall receive the
aggregate of any and all bonuses payable under this payroll practice in cash as soon as practicable following the date of their termination from employment with Newmont Mining or a Participating Employer. All payments and the timing of such payments
shall be made in accordance with practices and procedures established by Newmont Mining or the Participating Employer. Payment under this payroll practice 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.

 5.3 Withholding Taxes. All bonuses payable hereunder shall be subject to the withholding of such amounts as Newmont Mining
or an Affiliated Entity may determine is required to be withheld pursuant to any applicable federal, state, local or foreign law or regulation. 
 SECTION VI-CHANGE OF CONTROL 
 6.1 In General. In the event of a Change of Control, each eligible
Employee (including Terminated Eligible Employees who terminate employment during the calendar year in which the Change of Control occurs) shall become entitled to the payment of a Corporate Performance Bonus and a Personal Performance Bonus, in
accordance with the provisions of this Section. 
  

 9 

 6.2 Calculation of Bonuses. Upon a Change of Control, each eligible Employee, together with
each Terminated Eligible Employee, shall become entitled to the payment of (i) a Corporate Performance Bonus calculated on the basis of a Performance Percentage equal to the greater of the actual results attained for the calendar year or the
applicable targets for such Calendar year and (ii) a Personal Performance Bonus calculated on the basis of a Personal Performance Bonus Factor equal to the greater of the actual Personal Performance Bonus Factor for the calendar year or a
Personal Performance Bonus Factor of 1.0. If a Change of Control occurs prior to the time that the Compensation Committee has established the targets for the calendar year, such percentages shall be based upon the corresponding percentages for the
immediately preceding calendar year. 
 6.3 Payment of Bonuses. The bonuses payable in accordance with the provisions of this
Section VI 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 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 and Terminated 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). 
 SECTION VII-GENERAL PROVISIONS 
 7.1 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 or a successor plan. 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. 
 7.2 Right of Offset. To the extent permitted by applicable law, Newmont Mining may, in its sole discretion, apply any bonus payments otherwise due and payable under this payroll practice against any
eligible Employee or Terminated Eligible Employee loans outstanding to Newmont Mining or an Affiliated Entity or other debts of the eligible Employee or Terminated Eligible Employee to Newmont Mining or an Affiliated Entity. By accepting payments
under this payroll practice, the eligible Employee 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
payroll practice. 
 7.3 Termination. The Board may at any time amend, modify, suspend or terminate this payroll practice;
provided, however, that the Compensation Committee may, consistent with its administrative powers, waive or adjust provisions of this payroll practice as it determines necessary from time to time. 
  

 10 

 7.4 Payments Due Minors or Incapacitated Persons. If any person entitled to a payment under
this payroll practice is a minor, or if the 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 an incompetent, the 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 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 Compensation Committee, this payroll practice and Newmont Mining. 
 7.5 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 payroll practice, and this payroll practice shall be construed and enforced as if such illegal and invalid provision had never been set forth in this payroll practice. 
 7.6 No Right to Employment. The establishment of this payroll practice 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 or any Affiliated Entity, or to give any Employee or any person any right to receive any payment whatsoever, except as provided under this Payroll Practice. All Employees shall remain
subject to discharge from employment to the same extent as if this payroll practice had never been adopted. 
 7.7
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. 
 7.8 Successors. This payroll practice 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. 
 7.9 Governing Law. This payroll practice 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.

  

 11 

 APPENDIX A 
  

											
	 	  	 	  	Payout Percentage for each Economic Performance Driver
	 	  	 Consolidated
 Capital
 Expenditures
	  	 Reserve
 Growth
	  	 Consolidated
 Costs
 Applicable to
 Sales
	  	 Equity
 Ounces Sold
	  	 Consolidated
 Net Cash from
Operations

	Pay Grade 109 and Above, and Pay Grade 108 and below employed by the corporate office (including expatriate assignments) or at a non-site location as determined by the Vice President of Human
Resources or his or her delegate	  	20%	  	20%	  	20%	  	20%	  	20%

  

 12 

 Exhibit
                     
 APPENDIX B

  

			
	 Pay
 Grade
	 	 Target
 Performance Level

	 E-1
	 	67%
	 E-2
	 	45%
	 E-3
	 	40%
	 E-4
	 	34%
	 E-5
	 	30%
	 E-6
	 	25%
	 109
	 	25%
	 107-108
	 	15%
	 105-106
	 	10%
	 11-104
	 	5%

  

 13 

 APPENDIX C 
  

			
	 109 and below
 Performance
 Rating Category

	 	 Personal
 Performance
 Bonus Factor

	 1
	 	0
	 2
	 	.20
	 3
	 	.50
	 4
	 	.75
	 5
	 	1.0
	 6
	 	1.15
	 7
	 	1.25
	 8
	 	1.35
	 9
	 	1.50

  

			
	 E/T 6 and above
 Performance
 Rating Category

	 	 Personal
 Performance
 Bonus Factor

	 0
	 	0
	 1
	 	.50
	 2
	 	1.10
	 3
	 	1.35
	 4
	 	1.50

  

			
	 Pay
 Grade
	 	 Target
 Performance Level

	 E-1
	 	33%
	 E-2
	 	25%
	 E-3
	 	20%
	 E-4
	 	16%
	 E-5
	 	15%
	 E-6
	 	10%
	 109
	 	10%
	 107-108
	 	9%
	 105-106
	 	6.5%
	 103-104
	 	4%
	 11-102
	 	0%

  

 14

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