Freeport-McMoRan Announces Restructuring of Employment Arrangements with CEO Richard Adkerson

Freeport-McMoRan Copper & Gold Inc.

announced today that it has entered into restructured employment arrangements with its President and Chief Executive Officer, Richard C. Adkerson. FCX and Mr. Adkerson have mutually agreed to terminate Mr. Adkerson's employment agreement, including Mr. Adkerson's rights to any specified salary, bonus or other compensation amounts, rights to severance or change-of-control payments and other rights under his employment agreement.