Newmont Mining CEO Wayne Murdy made $12.6 million in 2006, largely because of a special increase in his pension.

Newmont estimates the value of the pension boost at $7.7 million. As part of a 2001 employment deal, if Murdy stayed with the company to age 62, Newmont would multiply his years of service by 1.5 when calculating his pension.

Murdy hit 62 in 2006, and his 14.1 years of service became 21.1 years in the pension formula. That added the $7.7 million to his estimated pension, which now stands at $18.6 million in current dollars.

The information, included Newmont’s proxy filing, is part of new disclsoure rules for executive pay. Companies must now provided a total-compensation figure that counts stock-option awards, pension increases, and other forms of pay.

Newmont paid Murdy a salary of $1 million, a bonus of $363,000, and stock and option awards valued at $2.8 million.

"Under Mr. Murdy, Newmont has grown to become a recognized leader in the mining industry," said spokesman Omar Jabara, "The company has achieved record earnings, and we’ve replaced our reserves for the fifth straight year in a row."

Former Senior Vice President Bruce D. Hansen made $6.78 million, including $5 million in severance pay. Former President Pierre Lassonde made $4.58 million. Executive Vice President Thomas L. Enos made $4.25 million.