Common use of APPOINTMENT AND DURATION Clause in Contracts

APPOINTMENT AND DURATION. 2.1 The Director was first employed by the Company and appointed Chief Financial Officer effective 1 March 1998. This agreement sets out the terms of employment of the Director with the Company from 1 March 2004 to take into account the introduction of the Gross Remuneration Package system. The Director agrees that all previous employment and related agreements entered into between the Director and the Company shall be revoked as from 1 March 2004 and be replaced by this agreement and the Gold Fields Guernsey agreement (Annexure B). Any obligations that the Director may have to the Company that arose in terms of such employment and related agreements, which shall include, but not be limited to confidentiality and copyright obligations, which arose prior to the commencement date, shall continue. 2.2 Effective 1 March 1998 the Director was appointed Chief Financial Officer of GFI. The Director shall not receive any remuneration or benefits from GFI in respect of his services as Chief Financial Officer, all benefits of employment being paid to him by the Company, a wholly owned subsidiary of GFI, in terms of this agreement. 2.3 Notwithstanding the date of signature hereof, this Agreement shall in all respects be deemed to have commenced with effect from 1 March 2004, and shall, subject to the remaining provisions hereof, endure thereafter until not less than six (6) calendar months’ written notice of termination is given by the Director to the Board, or until not less than six (6) calendar months’ written notice is given by the Board to the Director. 2.4 The Director’s retirement age shall be 63 years of age and his employment and directorships will automatically terminate upon such date. 2.5 It is recorded that the Director was employed by the Gencor Group from 1 March 1990 until the date of his appointment by the Company and that such period of service shall be taken into account in the determination of any severance benefit payable to the Director..

APPOINTMENT AND DURATION. 2.1 The Director was first employed by the Company and appointed Chief Financial Officer Managing Director effective 1 March 1998October 1999. This agreement sets out the terms of employment of the Director with the Company from 1 March 2004 to take into account the introduction of the Gross Remuneration Package system. The Director agrees that all previous employment and related agreements entered into between the Director and the Company shall be revoked as from 1 March 2004 and be replaced by this agreement and the Gold Fields Guernsey agreement (Annexure B). Any obligations that the Director may have to the Company that arose in terms of such employment and related agreements, which shall include, but not be limited to confidentiality and copyright obligations, which arose prior to the commencement date, shall continue. 2.2 Effective 1 March 1998 01 July 2002 the Director was appointed President and Chief Financial Executive Officer of GFIGFI and Chairman of the Board of Directors of the Company. The Director shall not receive any remuneration or benefits from GFI in respect of his services as President and Chief Financial Executive Officer, all benefits of employment being paid to him by the Company, a wholly owned subsidiary of GFI, in terms of this agreement. 2.3 Notwithstanding the date of signature hereof, this Agreement shall in all respects be deemed to have commenced with effect from 1 March 2004, and shall, subject to the remaining provisions hereof, endure thereafter until not less than six (6) calendar months’ written notice of termination is given by the Director to the Board, or until not less than six (6) calendar months’ written notice is given by the Board to the Director. 2.4 The Director’s retirement age shall be 63 years of age and his employment and directorships will automatically terminate upon such date. 2.5 It is recorded that the Director was employed by the Gencor Group from 1 March 1990 until the date of his appointment by the Company and that such period of service shall be taken into account in the determination of any severance benefit payable to the Director..

APPOINTMENT AND DURATION. 2.1 The Director Executive was first employed by the Company on 1 March 1998 and appointed Chief Financial Officer Executive Vice President: International Operations effective 1 March 1998September 2003. This agreement sets out the terms of employment of the Director Executive with the Company from 1 March 2004 to take into account the introduction of the Gross Remuneration Package system. The Director Executive agrees that all previous employment and related agreements entered into between the Director Executive and the Company shall be revoked as from 1 March 2004 and be replaced by this agreement and the Gold Fields Guernsey agreement (Annexure B). Any obligations that the Director Executive may have to the Company that arose in terms of such employment and related agreements, which shall include, but not be limited to confidentiality and copyright obligations, which arose prior to the commencement date, shall continue. 2.2 Effective 1 March 1998 the Director was appointed Chief Financial Officer of GFI. The Director shall not receive any remuneration or benefits from GFI in respect of his services as Chief Financial Officer, all benefits of employment being paid to him by the Company, a wholly owned subsidiary of GFI, in terms of this agreement. 2.3 Notwithstanding the date of signature hereof, this Agreement shall in all respects be deemed to have commenced with effect from 1 March 2004, and shall, subject to the remaining provisions hereof, endure thereafter until not less than six (6) calendar months’ written notice of termination is given by the Director Executive to the Board, or until not less than six (6) calendar months’ written notice is given by the Board to the DirectorExecutive. 2.4 2.3 The DirectorExecutive’s retirement age shall be 63 years of age and his employment and directorships will automatically terminate upon such date. 2.5 2.4 It is recorded that the Director Executive was employed by the Gencor Gold Fields Group from 1 March February 1990 until the date of his appointment by the Company and that such period of service shall be taken into account in the determination of any severance benefit payable to the Director..Executive.