6
Summarily, your services will be terminated for any reasons justifiable by law.
Mutual Separation - if either you or AngloGold Ashanti wish to terminate your contract of
employment, twelve (12) calendar months written notice of intention to do so must be
given to the other party. Notice can be given on any working day.
Resignation - You may terminate your employment by providing twelve (12) months
written notice of resignation. No further salary or short term incentive will be paid after
the date of your termination. All unvested long term incentives and bonus shares will
lapse.
3.8
Change
of
Control
Subject to clause 3.7 above, in the event of a Change of Control, and your employment
is terminated by the Company within twenty four (24) months of that Change of Control
(other than pursuant to clause 3.7), the company will pay you:
i.
All salary, benefits and bonuses in lieu of your notice pay (12 months);
ii.
An equal additional twelve (12) month payment of salary and benefits, inclusive of
the value of any pension contributions that would have been made by the
Company in the twelve (12) months following the termination date (less such tax
and national insurance contributions as the Company is obliged to deduct from
the sum);
iii.
All entitlements under the Company’s Share Schemes will vest on a pro rata
basis in accordance with the rules of the Scheme in place at the time.
Your entitlement to any benefit or payment under this clause 3.8 is conditional on you
accepting this payment as full and final settlement in the event of a Change of Control
and that the following occur:
i.
AngloGold Ashanti becomes a subsidiary of another company; or
ii.
Substantially all of the businesses, assets and undertakings of AngloGold Ashanti
become owned by any person, firm or company; or
iii.
A number of shareholders holding less than 35% of the Company’s issued share
capital act in concert to gain a majority of the Board and force changes in the
management of the company;
and as a consequence of this :
·
your employment is terminated as a result of an involuntary termination, or
·
your role is significantly diminished and your employment conditions are reduced.
If you would like clarity on any of these terms and conditions, please contact Chantal van Dyk in the
Human Resources Department for further details.