ROYAL GOLD, INC.
2004 OMNIBUS LONG-TERM INCENTIVE PLAN
Adopted on November 10, 2004, as amended
Royal Gold, Inc., a Delaware corporation (the “Company”), sets forth
herein the terms of its 2004 Omnibus Long-Term Incentive Plan (the “Plan”), as
The Plan is intended to enhance the Company’s and its Affiliates’ (as
defined herein) ability to attract and retain highly qualified officers, directors, key
employees, and other persons, and to motivate such officers, directors, key
employees, and other persons to serve the Company and its Affiliates and to
expend maximum effort to improve the business results and earnings of the
Company, by providing to such persons an opportunity to acquire or increase a
direct proprietary interest in the operations and future success of the Company.
To this end, the Plan provides for the grant of stock options, stock appreciation
rights, restricted stock, stock units, unrestricted stock, dividend equivalent rights
and cash awards. Any of these awards may, but need not, be made as
performance incentives to reward attainment of annual or long-term performance
goals in accordance with the terms hereof. Stock options granted under the Plan
may be non-qualified stock options or incentive stock options, as provided herein.
For purposes of interpreting the Plan and related documents (including
Award Agreements), the following definitions shall apply:
2.1 “Affiliate” means, with respect to the Company, any company or
other trade or business that controls, is controlled by or is under common control
with the Company within the meaning of Rule 405 of Regulation C under the
Securities Act, including, without limitation, any Subsidiary.
2.2 “Annual Incentive Award” means an Award made subject to
attainment of performance goals (as described in Section 14 ) over a
performance period of up to one year (the fiscal year, unless otherwise specified
by the Committee).
2.3 “Award” means a grant