Document:

Annual Incentive Compensation Program

 Exhibit 10.1 

 
  
 NEWMONT 
 ANNUAL INCENTIVE COMPENSATION PROGRAM 

(As Amended and Restated Effective January 1, 2012) 

 
  

 NEWMONT 
 ANNUAL INCENTIVE COMPENSATION PROGRAM 
 (Effective as of January 1,
2012) 
 PURPOSE 
 The purpose of this program is to provide to those employees of Newmont Mining and its Affiliated Entities that participate in this program a more direct interest in the success of the operations of
Newmont Mining. Employees of Newmont Mining and participating Affiliated Entities will be rewarded in accordance with the terms and conditions described below. 
 This program is intended to be a program described in Department of Labor Regulation Sections 2510.3-1(b) and 2510.3-2(c) and shall not be considered a plan subject to the Employee Retirement Income
Security Act of 1974, as amended. 
 SECTION I-DEFINITIONS 

1.1 “Affiliated Entity(ies)” means any corporation or other entity, now or hereafter formed, that is or shall
become affiliated with Newmont Mining, 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 “Attributable Ounces Production—Gold and Attributable Pounds
Production—Copper” means the reported attributable ounces of gold produced and reported attributable pounds of copper produced for the applicable calendar year, measured against the target attributable ounces of gold and target
attributable pounds of copper produced per the approved business plan, and as adjusted from time to time as approved by the Board. 
 1.3 “Board” means the Board of Directors of Newmont Mining or its delegate. 

 1.4 “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 government 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 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. 
 1.5 “Change of Control” means the occurrence of any of the following events: 
 (i) The acquisition in one or a series of transactions by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (x) the then outstanding shares of common stock of Newmont Mining (the
“Outstanding Company Common Stock”) or (y) the combined voting power of the then outstanding voting securities of Newmont Mining entitled to vote generally in the election of directors (the “Outstanding Company Voting
Securities”); provided, however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change of Control: (A) any acquisition directly from Newmont Mining other than an acquisition by virtue of
the exercise of a conversion privilege, unless the security being so converted was itself acquired directly from Newmont Mining, (B) any acquisition by Newmont Mining, (C) any acquisition by any employee benefits plan (or related trust)
sponsored or maintained by Newmont Mining or any corporation controlled by Newmont Mining or (D) any acquisition by any corporation pursuant to a transaction which complies with clauses (A), (B) and (C) of paragraph (iii)
below; or 
 (ii) Individuals who, as of the Effective Date, constitute the Board of Directors of Newmont Mining
(“Incumbent Board”) cease for any reason to constitute at least a majority of the Board of Directors of Newmont Mining; provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or
nomination for election by Newmont Mining’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but
excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of
proxies or consents by or on behalf of a Person other than the Board of Directors of Newmont Mining; or 

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

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

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

1.7 “Compensation Committee” means the Compensation Committee of the Board of Directors of Newmont Mining.

 1.8 “Consolidated Costs Applicable to Sales – Gold and Copper” means audited, US GAAP
consolidated costs applicable to sales for gold (per ounce calculation) and for copper (per pound calculation), measured against the target consolidated costs applicable to sales for gold (per ounce calculation) and to sales for copper (per pound
calculation) per the approved business plan, and as adjusted from time to time as approved by the Board. 

 1.9 “Consolidated Sustaining Capital Expenditures” means Newmont
Mining’s sustaining capital expenditures on an accrual basis measured against sustaining capital expenditures on an accrual basis, adjusted from time to time as approved by the Board.  

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 Mining (or Affiliated Entity) or a successor plan. 

1.12 “Economic Performance Driver” means Consolidated Sustaining Capital Expenditures, Consolidated Costs
Applicable to Sales – Gold and Copper, Attributable Ounces Production – Gold and Attributable Pounds Production Copper, Reserve and NRM Additions, and Project Execution and Cost. 

1.13 “Employee” means an employee of Newmont Mining or an Affiliated Entity who satisfied the conditions for this
program and who is not (a) an individual who performs services for Newmont Mining or an Affiliated Entity under an agreement, contract or arrangement (which may be written or oral) between the employer and the individual or with any other
organization that provides the services of the individual to the Employer pursuant to which the individual is initially classified or treated as an independent contractor or whose remuneration for services has not been treated initially as subject
to the withholding of federal income tax pursuant to Code § 3401, or who is otherwise treated as an employee of an entity other than Newmont Mining or an Affiliated Entity, irrespective of whether he or she is treated as an employee of
Newmont Mining or an Affiliated Entity under common-law employment principles or pursuant to the provisions of Code § 414(m), 414(n) or 414(o), even if the individual is subsequently reclassified as a common-law employee as a result of a
final decree of a court of competent jurisdiction, the settlement of an administrative or judicial proceeding or a determination by the Internal Revenue Service, the Department of the Treasury or the Department of Labor, (b) an individual 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. 
 1.14 “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. 
 1.15 “Newmont Mining” means Newmont Mining Corporation. 

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

1.17 “Pay Grade” means those jobs sharing a common salary range, as designated by the Board
or its delegate. 
 1.18 “Performance Rating Category” means the numerical category used to classify the
performance of each Employee in accordance with Newmont Mining’s performance management system. 

 1.19 “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. 
 1.20 “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. 

1.21 “Project Execution and Cost” means Newmont Mining’s performance against project execution and project
cost milestones as determined by the Board and adjusted from time to time as approved by the Board. 
 1.22 “Reserve
and NRM Additions” means annual gold reserve and non-reserve mineralization material (“NRM”) additions measured against target annual reserve and non-reserve mineralization material additions per the approved business plan,
and as adjusted from time to time as approved by the Board. 
 1.23 “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 or
Disability. The Executive 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 a Participating Employer are potentially eligible to receive a bonus payment under this program, provided (i) they
are on the payroll of 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 Mining (of Affiliated Entity) or a similar or a 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 Executive 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 program with respect to the calendar year any Employee or Employees, as he or she may determine in his or her sole discretion. Additionally, the Compensation Committee or the Executive 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 program with respect to the calendar year any Employee or Employees, that has failed to complete any required
ethics training or failed to comply with acknowledgement of any Code of Conduct of Newmont Mining or any Affiliated Entity. 

 SECTION III-CORPORATE PERFORMANCE BONUS 

3.1 Eligibility for Corporate Performance Bonus. For the calendar year, the Corporate Performance Bonus will be determined
pursuant to this section for each eligible Employee 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),
excluding any Employee eligible to participate in the Senior Executive Compensation Program; (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 Executive 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 Executive 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 Consolidated
Sustaining Capital Expenditures, Consolidated Costs Applicable to Sales – Gold and Copper and Project Cost, together with the applicable minimums and maximums for each such Economic Performance Driver, shall be established in United States
dollars and cents. The target, minimum and maximum Attributable Ounces Production-Gold and Reserve and NRM Additions shall be established in ounces. The target, minimum and maximum Attributable Pounds Production-Copper shall be established in
pounds. The targets for Project Execution shall be established at the discretion of the Board. Targets will be adjusted for acquisitions or divestitures as approved by the Newmont Mining 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, following a report for the Internal Audit department. 

 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. 
 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.
In accordance with Newmont Mining’s performance management system, the supervisor will rate the Employee. 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 and the Employee’s supervisor shall also recommend a Personal Performance Payout Factor within the
range stated in Appendix C corresponding to the rating that Employee’s supervisor assigned to Employee. Newmont Mining may increase or decrease any eligible Employee’s Personal Performance Bonus Factor in its sole discretion. 

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 determined 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. 
 4.4 Ineligible Employees. Eligible Employees
whose Personal Performance Bonus Factor (determined pursuant to Section 4.1) is less than .70 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
eligible Employee was in more than one Pay Grade during the calendar year, the bonus payable to such eligible Employee shall be calculated on a pro-rata basis in accordance with the amount of time spent by such eligible Employee in each Pay Grade
during the calendar year. 

 5.2 Time and Method of Payment. The aggregate of any and
all bonuses payable under this program 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 program in cash as soon as practicable following the date of their termination from employment with a Participating Employer. All payments and the timing of such payments shall be
made in accordance with practices and procedures established by the Participating Employer. Payment under this program will be made no later than the 15th day of the third month following the calendar year in which an Employee’s right to payment is no longer subject
to a substantial risk of forfeiture. Notwithstanding the foregoing, in the event an Employee failed to complete any required ethics training or failed to comply with acknowledgement of any Code of Conduct of Newmont Mining or any Affiliated Entity,
Newmont Mining may withhold payment under this program unless or until such Employee complies. 
 5.3 Withholding
Taxes. All bonuses payable hereunder shall be subject to the withholding of such amounts as Newmont Mining or a Participating Employer may determine is required to be withheld pursuant to any applicable federal, state, local or foreign law
or regulation. 
 SECTION 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.

 6.2 Calculation of Bonuses. Upon a Change of Control, each eligible Employee, excluding any Terminated eligible
Employee who terminated prior to the Change of Control, 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 or a
Participating Employer may determine is required to be withheld pursuant to any applicable federal, state or local law or regulation. Upon the completion of such payments, eligible Employees shall have no further right to the payment of any bonus
hereunder (other than any bonus payable hereunder with respect to a previous calendar year that has not yet been paid). 

 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 USA Limited (or a successor plan) or a similar
plan of a Participating Employer. In the absence of an effective beneficiary designation under said plan, any amount payable hereunder following the death of an eligible Employee shall be paid to the eligible Employee’s estate. 

7.2 Right of Offset. To the extent permitted by applicable law, Newmont Mining or a Participating Employer may, in its sole
discretion, apply any bonus payments otherwise due and payable under this program against any eligible Employee or Terminated Eligible Employee loans outstanding to Newmont Mining, an Affiliated Entity, or Participating Employer, or other debts of
the eligible Employee or Terminated Eligible Employee to Newmont Mining Newmont Mining, an Affiliated Entity, or Participating Employer. By accepting payments under this program, the eligible Employee consents to the reduction of any compensation
paid to the eligible Employee by Newmont Mining, an Affiliated Entity, or Participating Employer to the extent the eligible Employee receives an overpayment from this program. 
 7.3 Termination. The Board may at any time amend, modify, suspend or terminate this program; provided, however, that the Compensation Committee may, consistent with its administrative
powers, waive or adjust provisions of this program as it determines necessary from time to time. 
 7.4 Payments Due
Minors or Incapacitated Persons. If any person entitled to a payment under this program 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 program,
Newmont Mining, and Affiliated Entity or Participating Employer. 

 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 program, and this program shall be construed and enforced as if such illegal and invalid provision had never been set forth in this
program. 
 7.6 No Right to Employment. The establishment of this program shall not be deemed to confer upon any
person any legal right to be employed by, or to be retained in the employ of, Newmont Mining, any Affiliated Entity, any Participating Employer, or to give any Employee or any person any right to receive any payment whatsoever, except as provided
under this program. All Employees shall remain subject to discharge from employment to the same extent as if this program had never been adopted. 
 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 program
shall be binding upon and inure to the benefit of Newmont Mining, the Participating Employers and the eligible Employees and Terminated Eligible Employees and their respective heirs, representatives and successors. 

7.9 Governing Law. This program and all agreements hereunder shall be construed in accordance with and governed by the laws
of the State of Colorado, unless superseded by federal law. 
 7.10 Reimbursement. The Compensation Committee, to
the full extent permitted by governing law, shall have the discretion to require reimbursement of any portion of Corporate Performance Bonus previously paid to an eligible Employee pursuant to the terms of this compensation program if: a) the amount
of such Corporate Performance Bonus was calculated based upon the achievement of certain financial results that were subsequently the subject of a restatement, and b) the amount of such Corporate Performance Bonus that would have been awarded to the
eligible Employee had the financial results been reported as in the restatement would have been lower than the Corporate Performance Bonus actually awarded. Additionally, the Compensation Committee, to the full extent permitted by governing law,
shall have the discretion to require reimbursement of any portion of a Corporate Performance Bonus and Personal Performance Bonus previously paid to an eligible Employee pursuant to the terms of this compensation program if the eligible Employee is
terminated for cause as defined in the Executive Change of Control Plan of Newmont. 

 APPENDIX A- Payout Percentage for each Economic Performance Driver 

 

									
	 Consolidated
Sustaining
Capital
Expenditures
	  	Reserve and
NRM
Additions
(66.67% gold
reserves and
33.33% non-
reserve
mineralization
material)	 	Consolidated
Costs
Applicable
to Sales
(80% gold
and 20%
copper)	 	Attributable
Ounces
Production –
Gold (80%)
and
Attributable
Pounds
Production
–
Copper
(20%)	 	Project
Execution
and Cost
	10%	  	20%	 	30%	 	30%	 	10%

 APPENDIX B 

 

			
	 Pay
Grade
	  	Target Corporate 
Performance Bonus
Level
	E-5	  	30%
	E-6	  	20%
	109	  	20%
	107-108	  	15%
	105-106	  	14%
	103-104	  	10%
	101-102	  	5%
	99-100	  	4%
	49-50	  	3%
	11-27	  	3%

 APPENDIX C 

 

			
	 Performance
Rating System
	  	Personal
Performance
Bonus Factor
	1	  	0
	2	  	.50-.75
	3	  	.75-1.00
	4	  	1.00-1.25
	5	  	1.25-1.50
	6	  	1.50-2.0
		
	 Pay

Grade
	  	Target Personal
Performance Bonus
Level
	E-5	  	30%
	E-6	  	20%
	109	  	20%
	107-108	  	15%
	105-106	  	14%
	103-104	  	10%
	101-102	  	5%
	99-100	  	4%
	49-50	  	3%
	11-27	  	3%Senior Executive Compensation Program

 Exhibit 10.2 

 
  
 NEWMONT 
 SENIOR EXECUTIVE COMPENSATION PROGRAM 

(As Amended and Restated Effective January 1, 2012) 

 
  

 NEWMONT 
 SENIOR EXECUTIVE COMPENSATION PROGRAM 
 (Effective as of January 1,
2012) 
 PURPOSE 
 This Senior Executive Compensation Program includes the Strategic Stock Unit Bonus program, Performance Leveraged Stock Bonus program, Strategic Objectives Bonus and AICP Corporate Performance Bonus for
the eligible Employees. The purpose of the Strategic Stock Unit Bonus program, Performance Leveraged Stock Bonus program and the ACIP Corporate Performance Bonus is to provide eligible Employees a direct interest in the success of the operations of
Newmont Mining. The purpose of the Strategic Objectives Bonus is to provide eligible Employees additional incentive to meet strategic objectives. The eligible Employees will be rewarded in accordance with the terms and conditions described below.

 I. DEFINITIONS 
 The capitalized terms used in this compensation program shall have the same meaning as the capitalized terms in the Annual Incentive Compensation Program (“AICP”), unless otherwise defined or
stated herein. The following terms used in this compensation program shall have the meanings set forth below. 
 1.1
“AICP Corporate Performance Bonus” means the bonus payable pursuant to Section 5.1 (or portion thereof as provided in Section 5.2). 
 1.2 “Change of Control Price” means the price per share of Common Stock offered to a holder thereof in conjunction with any transaction resulting in a Change of Control on a fully-diluted
basis (as determined by the Compensation Committee as constituted before the Change of Control, if any part of the offered price is payable other than in cash), or, in the case of a Change of Control occurring solely by reason of a change in the
composition of the Board, the highest Fair Market Value of a share of Common Stock on any of the 30 trading days immediately preceding the date on which such Change of Control occurs. 

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

1.4 “EBITDA Payout Percentage” means annual approved budgeted EBITDA for the Performance Period, as adjusted for gold price,
exchange rates, one-time accounting adjustments or other items as approved by the Board, compared to actual adjusted EBITDA for the Performance Period calculated according to the scale stated in Appendix A-1. 

1.5 “Employee Target AICP Corporate Performance Bonus” means the target bonus for eligible Employees as set forth in
Appendix B. 
 1.6 “Extended Performance Period” means three calendar years over which the Compensation
Committee will calculate and determine the Performance Leveraged Stock Bonus. 

 1.7 “Fair Market Value” has the meaning given such term in the 2005 Stock
Incentive Plan. 
 1.8 “Performance Leveraged Stock Bonus” means the bonus payable to an eligible Employee in
the form of Common Stock under this compensation program with respect to an Extended Performance Period (or portion thereof as provided in Section 4.4) and is calculated as described in Section 4.2. 

1.9 “Performance Period” means the calendar year over which the Compensation Committee will calculate and determine the
Strategic Stock Unit Bonus, AICP Corporate Performance Bonus and Strategic Objectives Bonus. 
 1.10 “Performance
Stock” means the right to receive from Newmont Mining Common Stock or restricted stock units under terms and conditions defined in a restricted stock unit or other award agreement, as determined by the Compensation Committee. 

1.11 “Relative Total Shareholder Return” means Newmont Mining’s total shareholder return, defined as the change in
the closing price of a share of Common Stock, with dividends reinvested, over the Extended Performance Period, as compared to the total shareholder return, with dividends reinvested, of an index of peer companies selected and determined by the
Compensation Committee. The Committee retains authority to make adjustments for extraordinary events affecting the calculations. 
 1.12 “Retirement” means retirement as defined in the Pension Plan of Newmont Mining (or any successor plan), regardless of the relevant Employee’s participation in the Pension Plan
of Newmont Mining (or any successor plan). 
 1.13 “Strategic Objectives Bonus” means the cash bonus payable to
an eligible Employee based on the individual contribution of such eligible Employee to achievement of the Corporation’s strategic objectives during the Performance Period, as set forth in section 6.1 (or portion thereof as provided in section
6.2). 
 1.14 “Strategic Stock Unit Bonus” means the bonus payable to an eligible Employee in the form of
Performance Stock under this compensation program with respect to a Performance Period (or portion thereof as provided in Section 3.2), which shall be determined by multiplying the eligible Employee’s Target Strategic Stock Unit Bonus
times the EBITDA Payout Percentage. The Performance Stock awarded as a Strategic Stock Unit Bonus shall have terms and conditions, and shall be subject to such restrictions as defined by the Compensation Committee. 

1.15 “Target Strategic Stock Unit Bonus” means the number of shares of Common Stock equivalent to the percentage of base
salary (for calculation purposes, base salary shall be the applicable base salary of the Employee as of March 1 for the year in which the target number of shares is calculated) set by the Compensation Committee which is set forth in Appendix A,
using the average of the high and low share price on the date such targets are set by the Compensation Committee. 

  
 3 

 1.16 “Target Performance Leveraged Stock Bonus” means the number of shares
of Common Stock equivalent to the percentage of base salary (for calculation purposes, base salary shall be the applicable base salary of the Employee as of March 1 for the year in which the target number of shares is calculated) set by the
Compensation Committee which is set forth in Appendix D, using the average closing price of Common Stock for the fourth quarter of the calendar year immediately prior to the Extended Performance Period. 

1.17 “Terminated Eligible Employee” for purposes of the Strategic Stock Unit Bonus means an executive grade level
Employee of a Participating Employer at grade level E-4 or above during the relevant Performance Period, who terminates employment with Newmont Mining and/or a Participating Employer on account of death, Retirement or Disability. For purposes of the
Performance Leveraged Stock Bonus, “Terminated Eligible Employee” means executive grade level Employee of a Participating Employer at grade level E-4 or above during the relevant Extended Performance Period, who terminates
employment with Newmont Mining and/or a Participating Employer on account of death, Retirement, severance as provided in Section 4.4(a), or involuntary termination as provided in Section 4.4(d). Terminated Eligible Employee”
for purposes of the AICP Corporate Performance Bonus and the Strategic Objectives Bonus shall have the same meaning as in the AICP. 
 1.18 “2005 Stock Incentive Plan” means the Newmont Mining Corporation 2005 Stock Incentive Plan (or any successor plan), as amended from time to time. 

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

  
 4 

 III. STRATGEIC STOCK UNIT BONUS 

3.1 Determination of Strategic Stock Unit Bonus—In General. The Strategic Stock Unit Bonus shall be calculated as soon
as reasonably practicable after the Compensation Committee determines the EBITDA Payout Percentage. Following such determination, payment of the Strategic Stock Unit Bonus shall be made to eligible Employees as soon as reasonably practicable, in
accordance with Section 3.3 below. 
 3.2 Separation of Employment and Payment of Strategic Stock Unit Bonus.
Unless otherwise stated in this section 3.2, an eligible Employee shall not be entitled to payment of a Strategic Stock Unit Bonus on or after any separation of employment, voluntary or involuntary. In the event an eligible Employee separates
employment from a Participating Employer as a result of death, Disability or Retirement prior to payment of the Strategic Stock Unit Bonus, such eligible Employee shall be a Terminated Eligible Employee and shall receive a Strategic Stock Unit Bonus
equal to such Terminated Eligible Employee’s Target Strategic Stock Unit Bonus, pro-rated for the time of employment with a Participating Employer during the Performance Period, upon separation of employment. 

3.3 Form of Payment. The amount of Strategic Stock Unit Bonus payable under this compensation program shall be paid in
Performance Stock (payable in whole shares only rounded down to the nearest share). The Performance Stock shall be subject to the restrictions set forth in Section 3.4 below. 

3.4 Restrictions on Performance Stock. 
 (a) Newmont Mining shall issue Performance Stock to eligible Employees for one-third of the Strategic Stock Unit Bonus without any restrictions as soon as practicable following the end of the Performance
Period in the form of Common Stock. Newmont Mining shall issue Performance Stock, in the form of restricted stock units for the remainder of the Strategic Stock Unit Bonus and such restricted stock units shall have a two-year vesting period, with
one-half of the Performance Stock in the form of restricted stock units vesting each year on the anniversary of the date of grant. 
 (b) Shares of Performance Stock issued hereunder in the form of restricted stock units as part of a Strategic Stock Unit Bonus shall not be subject to transfer by the eligible Employee. Shares of Common
Stock issued to an eligible Employee upon vesting of such restricted stock units may be freely transferred by the eligible Employee subject to all applicable laws, regulations and Newmont Mining policies. 

3.5 Timing of Payment. Except as provided in section 3.2 above, payment of the Strategic Stock Unit Bonus will
be made no later than the 15th day of the third month
following the Performance Period to which such Strategic Stock Unit Bonus relates. 
 IV. PERFORMANCE LEVERAGED STOCK
BONUS 
 4.1 Determination of Performance Leveraged Stock—In General. The Performance Leveraged Stock
Bonus shall be calculated as soon as reasonably practicable after the Compensation Committee determines the Performance Leveraged Stock Bonus Payout Factor as described in section 4.3 below. Following such determination, payment of the Performance
Leveraged Stock Bonus shall be made to eligible Employees as soon as reasonably practicable, in accordance with Section 4.5 below. 

  
 5 

 4.2 Calculation of Performance Leveraged Stock Bonus. The Performance
Leveraged Stock Bonus equals the Target Performance Leveraged Stock Bonus times the Performance Leveraged Stock Bonus Payout Factor. 
 4.3 Calculation of the Performance Leveraged Stock Bonus Payout Factor. The Performance Leveraged Stock Bonus Payout Factor will be the sum of the Market Payout Factor and the TSR Payout
Factor: 
 (a) “Market Payout Factor” means a percentage calculated as follows: 100 times
the quotient of (i) the average closing price of Common Stock for the fourth quarter of the last calendar year of the Extended Performance Period; divided by (ii) the average closing price of Common Stock for the fourth quarter of the
calendar year prior to the Extended Performance Period, as adjusted for stock splits or similar reorganizations. The maximum Market Payout Factor shall be 150%. 

(b) “TSR Payout Factor” means a percentage calculated as follows: two times the
number of percentage points that the Relative Total Shareholder Return is above the 50th percentile, to a maximum of 50%. 
 4.4 Separation of Employment and Payment
of Performance Leveraged Stock Bonus. Unless otherwise stated in this section 4.4, an eligible Employee shall not be entitled to payment of a Performance Leveraged Stock Bonus on or after any separation of employment, voluntary or
involuntary. 
 (a) In the event an eligible Employee separates employment from a Participating Employer and is
entitled to severance benefits of any kind, including but not limited to benefits under the Executive Severance Plan of Newmont (or any successor plan) or redundancy benefits, prior to payment of the Performance Leveraged Stock Bonus and prior to
the expiration of the first year of any Extended Performance Period, such eligible Employee is not entitled to payment of the Performance Leveraged Stock Bonus in any amount for that Extended Performance Period. In the event an eligible Employee
separates employment from a Participating Employer and is entitled to severance benefits of any kind, including but not limited to benefits under the Severance Plan of Newmont (or any successor plan) or redundancy benefits, prior to payment of the
Performance Leveraged Stock Bonus and after expiration of the first year of any Extended Performance Period, such eligible Employee is a Terminated Eligible Employee and shall receive a Performance Leveraged Stock Bonus at the lesser of his or her
Target Performance Leveraged Stock Bonus or the actual Performance Leveraged Stock Bonus otherwise payable, pro-rated based on the time he or she was actually employed by a Participating Employer during the Extended Performance Period and paid
following the expiration of the Extended Performance Period. 

  
 6 

 (b) In the event an eligible Employee separates employment from a
Participating Employer as a result of Retirement prior to payment of the Performance Leveraged Stock Bonus, such eligible Employee is a Terminated Eligible Employee and shall receive a Performance Leveraged Stock Bonus at actual payout amount in the
form of Common Stock, following expiration of the Extended Performance Period, pro-rated based on the time he or she was actually employed by a Participating Employer during the Extended Performance Period. 

(c) In the event an eligible Employee separates employment from a Participating Employer as a result of death prior to
payment of the Performance Leveraged Stock Bonus, such eligible Employee’s beneficiary or estate shall receive a Performance Leveraged Stock Bonus equal to his or her Target Performance Leveraged Stock Bonus, pro-rated based on the time he or
she was actually employed by a Participating Employer during the Extended Performance Period, payable upon separation of employment. 
 (d) In the event an eligible Employee is involuntarily terminated by a Participating Employer prior to payment of the Performance Leveraged Stock Bonus for any reason other than cause, as defined in the
Executive Severance Plan of Newmont, and the eligible Employee is not entitled to any benefits under the Executive Severance Plan of Newmont or other redundancy or severance benefits, employee shall receive a pro-rated Performance Leveraged Stock
Bonus, based on the time he or she was actually employed by a Participating Employer during the Extended Performance Period, based on actual payout of the Performance Leveraged Stock Bonus following expiration of the Extended Performance Period
according to paragraph 4.6 below. 
 4.5 Form of Payment. The amount of Performance Leveraged Stock Bonus payable
under this compensation program shall be paid in Common Stock (payable in whole shares only rounded down to the nearest share). 

4.6 Timing of Payment. Except as otherwise provided in section 4.4(c) above, payment of the Performance Leveraged Stock
Bonus will be made as soon as reasonably practicable during the calendar year following the Extended Performance Period to which such Performance Leveraged Stock Bonus relates. 
 V. AICP CORPORATE PERFORMANCE BONUS 
 5.1 Determination of
AICP Corporate Performance Bonus—In General. For all participants in this program, with the exception of Regional Senior Vice Presidents at operating sites, the AICP Corporate Performance Bonus shall be determined and paid in
conformance with the determination and payment of the Corporate Performance Bonus in the AICP, utilizing the Employee Target AICP Corporate Performance Bonus attached in Appendix B, rather than the Target Performance Level attached to the AICP. For
all Regional Senior Vice Presidents at operating sites the AICP Corporate Performance Bonus shall be based upon the AICP and the applicable regional bonus plan. Twenty-five percent of the Regional Senior Vice Presidents’ AICP Corporate
Performance Bonus shall be determined and paid in conformance with the determination and payment of the Corporate Performance Bonus in the AICP, utilizing the Employee Target AICP Corporate Performance Bonus attached in Appendix B, rather than the
Target Performance Level attached to the AICP. Seventy-five percent of the Regional Senior Vice Presidents’ AICP Corporate Performance Bonus shall be determined and paid in conformance with the applicable regional bonus plan, utilizing the
Employee Target AICP Corporate Performance Bonus attached in Appendix B, rather than the Target Performance Level attached to the AICP. 

  
 7 

 5.2 Separation of Employment and Payment of AICP Corporate Performance Bonus.
In the event an eligible Employee separates employment from a Participating Employer and is a Terminated Eligible Employee, the AICP Corporate Performance Bonus shall be paid in accordance with the Terminated Eligible Employee provisions of the
Corporate Performance Bonus provisions of the AICP. If an eligible Employee is not a Terminated Eligible Employee, such eligible Employee shall not be entitled to payment of an AICP Corporate Performance Bonus on or after any separation of
employment, voluntary or involuntary. 
 VI. STRATEGIC OBJECTIVES BONUS 

6.1 Determination of Strategic Objectives Bonus—In General. At the end of each Performance Period,
the Compensation Committee will evaluate Section 16 reporting officer eligible Employee's performance against relevant strategic objectives and award a Strategic Objectives Bonus, up to the maximum amounts listed in Appendix C. The Compensation
Committee will seek the input of the Chief Executive Officer on the Strategic Objectives Bonuses to be awarded to other Section 16 reporting officer eligible Employees. At the end of each Performance Period, the designated supervisor of a
non-Section 16 reporting officer eligible Employee will evaluate the non-Section 16 reporting officer eligible Employee’s performance against relevant strategic objectives and award a Strategic Objectives Bonus, up to the maximum
amounts listed in Appendix C. Following such determination, payment of the Strategic Objectives Bonus shall be made to eligible Employees as soon as reasonably practicable following the end of the applicable Performance Period, provided that such
payment shall be made no later than the 15th day of the
third month following the Performance Period to which such Strategic Objectives Bonus relates. 
 6.2 Separation of
Employment and Payment of Strategic Objectives Bonus. In the event an eligible Employee separates employment from a Participating Employer and is a Terminated Eligible Employee, the Strategic Objectives Bonus shall be paid at 50% of the
maximum level shown on Appendix C, pro-rated for the time of employment during the Performance Period, and shall be paid as soon as practicable. If an eligible Employee is not a Terminated Eligible Employee, eligible Employee shall not be entitled
to payment of a Strategic Objectives Bonus on or after any separation of employment, voluntary or involuntary. 

  
 8 

 VII. CHANGE OF CONTROL 

7.1 AICP Corporate Performance Bonus and Strategic Objectives Bonus. In the event of a Change of Control (as defined in the
AICP), each eligible Employee, excluding any Terminated Eligible Employee who terminated prior to the Change of Control, shall become entitled to the payment of an AICP Corporate Performance Bonus, in accordance with the provisions of the Corporate
Performance Bonus provisions of the AICP and 50% of the maximum Strategic Objectives Bonus, pro-rated for partial service during any Performance Period, payable within 5 days following the date of such Change of Control. 

7.2 Strategic Stock Unit Bonus. In the event of a Change of Control (as defined in the AICP), each eligible Employee’s
granted but not yet vested Strategic Stock Unit Bonuses shall vest upon a termination of employment of the Employee, entitling Employee to Change of Control benefits under the applicable Executive Change of Control Plan. 

7.3 Performance Leveraged Stock Bonus. In the event of a Change of Control (as defined in the AICP), each eligible Employee
or a Terminated Eligible Employee who terminated employment on account of Retirement (all other Terminated Eligible Employees who terminated employment prior to the Change of Control shall be excluded), shall become entitled to the payment of a
Performance Leveraged Stock Bonus for an Extended Performance Period that has elapsed at least one year. The Performance Leveraged Stock Bonus shall be calculated in the manner stated in section 4.2 above, with the exception that (i) the
Extended Performance Period shall be deemed to end on the date of the Change of Control, (ii) the Change of Control Price shall be substituted for the average closing price of Common Stock for the fourth quarter of the last calendar year of the
Extended Performance Period for purposes of section 4.3(a)(i) above, and (iii) the TSR Payout Factor will be based on Relative Total Shareholder Return utilizing the Change of Control Price as the final closing price of a share of Common Stock.
The Performance Leveraged Stock Bonus shall be paid out as follows: (A) the percentage of the Performance Leveraged Stock Bonus equal to the percentage of the Extended Performance Period that elapsed up to the Change of Control shall be paid in
a number of shares of common stock of the acquiring or resulting corporation or any parent or subsidiary thereof or that may be issuable by another corporation that is a party to the transaction resulting in such Change of Control received in such
transaction by holders of Common Stock (such common stock, “Acquirer Stock”) equal to (x) the number of shares of Acquirer Stock received by such a holder for each share of Common Stock held by such holder in such transaction
multiplied by (y) the number of shares of Common Stock subject to such percentage of the Performance Leveraged Stock Bonus, or (B) if Acquirer Stock is not issued in connection with such transaction, cash in an amount equal to the Change
of Control Price multiplied by the number of shares of Common Stock subject to such percentage of the Performance Leveraged Stock Bonus, within 5 days following the date of the Change of Control (provided, however, that if such Change
of Control does not constitute a change in the ownership or effective control of Newmont Mining or of a substantial portion of the assets of Newmont Mining, pursuant to Treasury Regulations Section 1.409A-3(i)(5) (a “409A
CoC”), such percentage of the Performance Leveraged Stock Bonus shall be so paid when the Performance Leveraged Stock Bonus would otherwise have been paid in accordance with Article IV), and b) the percentage of the Performance Leveraged
Stock Bonus equal to the percentage of the Extended Performance Period that did not elapse prior to the Change of Control shall be paid in the form of (A) restricted stock units covering a number of shares of Acquirer Stock equal to
(x) the number of shares of Acquirer Stock received by a holder of Common Stock for each share of Common Stock held by such holder in such transaction multiplied by (y) the number of shares of Common Stock subject to such percentage of the
Performance Leveraged Stock Bonus, that will have a vesting period equal to the Extended Performance Period otherwise remaining as of the date of the Change of Control, or (B) if Acquirer Stock is not issued in connection with such
transaction, a deferred compensation arrangement with a balance initially equal to the Change of Control Price multiplied by the number of shares of Common Stock subject to such percentage of the Performance Leveraged Stock Bonus, that will have a
vesting period equal to the Extended Performance Period otherwise remaining as of the date of the Change of Control and a value from time to time as if such initial balance were invested in such deemed investment as the Compensation Committee as
constituted before the Change of Control shall determine in its discretion. The portion of the Performance Leveraged Stock Bonus described in clause (b) of the preceding sentence shall vest upon any termination of employment of the eligible
Employee with a Participating Employer prior to the expiration of the vesting period, with the exception of voluntary termination or termination for Cause, as defined in Newmont Mining’s Executive Change of Control Plan. Such portion shall be
paid in cash within 5 days following vesting; provided, however, that if such Change of Control does not constitute a 409A CoC, such portion, to the extent vested in accordance with this sentence, shall be so paid when they would
otherwise have been paid in accordance with Article IV. 

  
 9 

 VIII. GENERAL PROVISIONS 

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

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

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

  
 10 

 8.4 Reimbursement. The Compensation Committee, to the full extent permitted by
governing law, shall have the discretion to require reimbursement of any portion of a Strategic Stock Unit Bonus, Performance Leveraged Stock Bonus, and AICP Corporate Performance Bonus previously paid to an eligible Employee pursuant to the terms
of this compensation program if: a) the amount of such Strategic Stock Unit Bonus, Performance Leveraged Stock Bonus, or AICP Corporate Performance Bonus was calculated based upon the achievement of certain financial results that were subsequently
the subject of a restatement, and b) the amount of such Strategic Stock Unit Bonus, Performance Leveraged Stock Bonus, or AICP Corporate Performance Bonus that would have been awarded to the eligible Employee had the financial results been reported
as in the restatement would have been lower than the Strategic Stock Unit Bonus, Performance Leveraged Stock Bonus, or AICP Corporate Performance Bonus actually awarded. Additionally, the Compensation Committee, to the full extent permitted by
governing law, shall have the discretion to require reimbursement of any portion of a Strategic Stock Unit Bonus, Performance Leveraged Stock Bonus, AICP Corporate Performance Bonus and Strategic Objective Bonus previously paid to an eligible
Employee pursuant to the terms of this compensation program if the eligible employee is terminated for cause as defined in the Executive Change of Control Plan of Newmont. 
 8.5 Withholding Taxes. All bonuses payable hereunder shall be subject to the withholding of such amounts as Newmont Mining or a Participating Employer may determine is required to be
withheld pursuant to any applicable federal, state or local law or regulation. The Compensation Committee may, in its sole discretion, permit eligible Employees to satisfy the minimum withholding applicable to the portion of the bonus payable in
shares of Common Stock or Performance Stock by causing Newmont Mining to withhold the appropriate number of shares of Common Stock or Performance Stock from the bonus otherwise payable and to make the requisite withholding payments on behalf of the
eligible Employee. 
 8.6 Issuance of Stock. Shares of Common Stock and Performance Stock issued under this
compensation program may be issued pursuant to the provisions of any stock plan of Newmont Mining or as otherwise determined in the sole discretion of the Compensation Committee. All awards under this compensation program that consist of Common
Stock or that are valued in whole or in part by reference to, or are otherwise based on, Common Stock, shall be treated as made under the 2005 Stock Incentive Plan as well as this compensation program and thereby subject to the applicable terms and
conditions of the 2005 Stock Incentive Plan. 
 8.7 General Operation and Amendment. Notwithstanding anything
contained in this compensation program to the contrary, this compensation program shall be administered and operated in accordance with any applicable laws and regulations including but not limited to laws affecting the timing of payment of any
bonus under this compensation program. 
 8.8 Right of Offset. To the extent permitted by applicable law, Newmont
Mining or a Participating Employer may, in its sole discretion, apply any bonus payments otherwise due and payable under this compensation program against debts of an eligible Employee to Newmont Mining or an Affiliated Entity. By accepting payments
under this compensation program, all eligible Employees shall consent to the reduction of any compensation paid to the eligible Employee by Newmont Mining or an Affiliated Entity to the extent the eligible Employee receives an overpayment from this
compensation program. 

  
 11 

 8.9 Termination and Amendment. The Board may at any time amend, modify,
suspend or terminate this compensation program; provided, however, that the Compensation Committee may, consistent with its administrative powers, waive or adjust provisions of this compensation program as it determines necessary from time to time.
The Compensation Committee may amend the terms of any award theretofore granted hereunder, but no such amendment shall be inconsistent with the terms and conditions of this compensation program or materially impair the previously accrued rights of
the eligible Employee to whom such award was granted with respect to such award without his or her consent, except such an amendment made to cause this program or such award to comply with applicable law, tax rules, stock exchange rules or
accounting rules. 
 8.10 Severability. If any section, subsection or specific provision is found to be illegal or
invalid for any reason, such illegality or invalidity shall not affect the remaining provisions of this compensation program, and this compensation program shall be construed and enforced as if such illegal and invalid provision had never been set
forth in this compensation program. 
 8.11 No Right to Employment. The establishment of this compensation program
shall not be deemed to confer upon any eligible Employee any legal right to be employed by, or to be retained in the employ of, Newmont Mining, a Participating Employer or any Affiliated Entity, or to give any eligible Employee any right to receive
any payment whatsoever, except as provided under this compensation program. All eligible Employees shall remain subject to discharge from employment to the same extent as if this compensation program had never been adopted. 

8.12 Transferability. Any bonus payable hereunder is personal to the eligible Employee and may not be sold, exchanged,
transferred, pledged, assigned or otherwise disposed of except by will or by the laws of descent and distribution. 
 8.13
Successors. This compensation program shall be binding upon and inure to the benefit of Newmont Mining and eligible Employees and their respective heirs, representatives and successors. 

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

  
 12 

 APPENDIX A 

Target Strategic Stock Unit Bonus 
  

			
	 Grade
	  	 Percentage of Base Salary

	 E-1
	  	166.7%
		
	 E-2
	  	—  
		
	 E-3 Chief Operating Officer
	  	125%
		
	 E-3 Executive Vice President

Sustainability and External Affairs
	  	116.7%
		
	 E-3 Executive Vice President and

Chief Financial Officer and

Executive Vice President Strategic

Development
	  	100%
		
	 E-3 Executive Vice President,

Human Resources and

Communications
	  	90%
		
	 E-4
	  	55%

 APPENDIX A-1 
 EBITDA Payout Percentage 
  

			
	 Actual EBITDA Performance

Compared to Target EBITDA

Performance
	  	 EBITDA Payout Percentage

	 112.5% and above
	  	150% payout
		
	 100%-112.5% of target
	  	 100% payout plus an increase of 4% of

target payout for every
 percent above 100% of target
 EBITDA performance

		
	 75%-100% of target
	  	 50% payout plus an increase of 2%

of target payout for every percent
 above 75% of target EBITDA
 performance.

		
	 Below 75% of target
	  	No payout

  
 13 

 APPENDIX B 

Employee Target AICP Corporate Performance Bonus 

 

			
	 Grade
	  	 Percentage of Base Salary

	 E-1
	  	75%
		
	 E-2
	  	—  
		
	 E-3 Chief Operating Officer
	  	50%
		
	 E-3 Executive Vice President

Sustainability and External Affairs
	  	47.5%
		
	 E-3 Executive Vice President and

Chief Financial Officer and

Executive Vice President, Strategic

Development
	  	45%
		
	 E-3 Executive Vice President,

Human Resources and

Communications
	  	42.5%
		
	 E-4 (excluding Regional Senior Vice

Presidents of operating sites)
	  	37.5%
		
	 E-4 Regional Senior Vice

Presidents of operating sites
	  	 37.5% (25% of target is based upon

AICP Corporate Performance and
 75% of target is based upon
 applicable regional bonus
plan)

  
 14 

 APPENDIX C 

Maximum Strategic Objectives Bonuses 
  

			
	 Pay Grade
	  	 Maximum Strategic Objectives

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

	 E-1
	  	150%
		
	 E-2
	  	—  
		
	 E-3 Chief Operating Officer
	  	100%
		
	 E-3 Executive Vice President

Sustainability and External

Affairs
	  	95%
		
	 E-3 Executive Vice President

and Chief Financial Officer and

Executive Vice President,

Strategic Development
	  	90%
		
	 E-3 Executive Vice President,

Human Resources and

Communications
	  	85%
		
	 E-4
	  	75%

  
 15 

 APPENDIX D 

Target Performance Leveraged Stock Bonus 
  

			
	 Grade
	  	 Percentage of Base Salary

	 E-1
	  	333.3%
		
	 E-2
	  	—  
		
	 E-3 Chief Operating Officer
	  	250%
		
	 E-3 Executive Vice President

Sustainability and External Affairs
	  	233.3%
		
	 E-3 Executive Vice President and

Chief Financial Officer and

Executive Vice President, Strategic

Development
	  	200%
		
	 E-3 Executive Vice President,

Human Resources and

Communications
	  	180%
		
	 E-4
	  	110%

  
 16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00206-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00206-of-00352.parquet"}]]