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    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNITED
      STATES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
      D.C.&#160;&#160;20549</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">FORM
      8-K</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
      REPORT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to Section 13 OR 15(d) of The Securities Exchange Act of 1934</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of Report (Date of earliest event reported):&#160;&#160;January 28,
      2008</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><img src="fcx_logo.jpg" alt=""><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">FREEPORT-McMoRan
      COPPER &amp; GOLD INC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      name of registrant as specified in its charter)</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Delaware</font></div>
            </td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1-9916</font></div>
            </td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">74-2480931</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(State
                or other jurisdiction of incorporation)</font></div>
            </td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Commission
                File Number)</font></div>
            </td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(IRS
                Employer Identification Number)</font></div>
            </td>
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    <div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">One
                North Central Avenue</font></div>
            </td>
            <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
          <tr>
            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Phoenix,
                Arizona</font></div>
            </td>
            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">85004-4414</font></div>
            </td>
          </tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Address
                of principal executive offices)</font></div>
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            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Zip
                Code)</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant's
      telephone number, including area code:&#160;&#160;(602) 366-8100</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
      ]
      Written communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
      ]
      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
      ]
      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
      Act
      (17 CFR 240.14d-2(b))</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
      ]
      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
      Act
      (17 CFR 240.13e-4(c))</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
      5.02.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Departure of Directors
      or
      Certain Officers; Election of Directors; Appointment of Certain Officers;
      Compensatory Arrangements of Certain Officers.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      <font style="DISPLAY: inline; FONT-STYLE: italic">Annual Incentive
      Awards</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        January 28, 2008, the Corporate Personnel Committee of the Board of Directors
        of
        Freeport-McMoRan Copper &amp; Gold Inc. (FCX) approved awards of restricted
        stock units to the executive officers of FCX as part of its annual incentive
        plan.&#160;&#160;The awards were granted under the FCX 2006 Stock Incentive
        Plan.&#160;&#160;The restricted stock units will vest ratably over a three-year
        period, provided the average return on investment for the five calendar years
        preceding the applicable vesting date is at least 6%.&#160;&#160;The FCX
        executive officers received the following awards:&#160;&#160;James R. Moffett,
        Chairman of the Board, received 173,505 restricted stock units; Richard C.
        Adkerson, President and Chief Executive Officer, received 173,505 restricted
        stock units; Kathleen L. Quirk, Executive Vice President, Chief Financial
        Officer and Treasurer, received 19,929 restricted stock units; and Michael
        J.
        Arnold, Executive Vice President and Chief Administrative Officer, received
        19,929 restricted stock units.&#160;&#160;These awards were in addition to the
        restricted stock units received by Messrs. Adkerson and Arnold and Ms. Quirk
        pursuant to their elections to receive restricted stock units in lieu of
        all
        (Mr. Adkerson) or a portion (Mr. Arnold and Ms. Quirk) of their annual cash
        bonus.&#160;&#160;These awards will be detailed in the FCX Proxy Statement filed
        in connection with the 2008 annual meeting of the FCX stockholders.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Executive
      Employment Agreements</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
        January 29, 2008, FCX entered into executive employment agreements with each
        of
        Richard C. Adkerson, President and Chief Executive Officer of FCX, and Kathleen
        L. Quirk, Executive Vice President, Chief Financial Officer and Treasurer
        of
        FCX.&#160;&#160;The agreements were approved by the Board of Directors of
        FCX.&#160;&#160;These agreements supersede the executive employment agreement
        and the change of control agreement entered into between FCX and Mr. Adkerson
        dated April 30, 2001 and amended December 10, 2003, and the change of control
        agreement entered into between FCX and Ms. Quirk dated February 3, 2004.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        new
        agreements reflect the current base salary for each executive officer, namely
        $2,500,000 for Mr. Adkerson and $650,000 for Ms. Quirk, and provide that
        each
        executive officer is eligible to earn an annual bonus under FCX&#8217;s annual
        incentive plan.&#160;&#160;The agreements also contain non-competition,
        nondisclosure and other provisions intended to protect FCX&#8217;s interests in the
        event that the executive officer ceases to be employed.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        original term of each agreement expires January 1, 2012, but will automatically
        extend for additional one-year terms unless prior written notice is given
        by the
        corporate personnel committee that it does not wish to extend the
        agreement.&#160;&#160;In the event of a change of control of FCX, the agreements
        will expire on the later of January 1, 2012 or three years following the
        change
        of control.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
        executive also received a grant of restricted stock units on the effective
        date
        of the agreements.&#160;&#160;Mr. Adkerson received 200,000 restricted stock
        units and Ms. Quirk received 75,000 restricted stock units.&#160;&#160;One-fifth
        of the units vested immediately upon grant, and the remainder will vest in
        annual increments beginning January 1, 2009.&#160;&#160;The restricted stock
        units will also vest upon a change of control of FCX, or upon the executive&#8217;s
        termination of employment as a result of death or disability only.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        other
        terms of both agreements are substantively similar to the terms of Mr.
        Adkerson&#8217;s prior executive employment agreement and change of control agreement
        and Ms. Quirk&#8217;s prior change of control agreement.&#160;&#160;Pursuant to each
        new employment agreement, the executive will receive certain benefits in
        connection with a termination of employment under various scenarios, including
        a
        pro rata bonus payment based upon annualized performance measures in connection
        with a termination of employment for any reason other than termination by
        FCX
        for cause (as defined in the agreement) and continuation of insurance and
        welfare benefits for three years following a termination of employment for
        reasons other than cause, death or disability.&#160;&#160;In the event either
        executive&#8217;s employment is terminated by</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br></font>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
        executive for good reason (as defined in the agreements) or by FCX for reasons
        other than death, disability or cause, the executive will also receive a
        cash
        payment equal to three times the sum of the executive&#8217;s base salary in effect at
        the time of termination of employment and the average of the bonuses paid
        to the
        executive for the immediately preceding three fiscal years, all outstanding
        stock options will vest, certain restricted stock units will vest, and all
        outstanding units under the FCX long term performance incentive plan will
        vest
        and be paid out.&#160;&#160;The same provisions will apply in the event of a
        termination of employment following a change of control, except that the
        cash
        payment received by the executive in connection with a termination of employment
        by the executive for good reason or by FCX or the surviving company for reasons
        other than death, disability or cause, will be equal to three times the sum
        of
        the executive&#8217;s base salary in effect at the time of termination of employment
        and the highest bonus paid to the executive for the immediately preceding
        three
        fiscal years.&#160;&#160;In addition, to the extent any payments related to a
        change of control exceed 110% of the Internal Revenue Code Section 280G limit,
        each executive will be entitled to a gross-up payment to cover any excise
        taxes
        due.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        foregoing summary of the terms of the respective executive employment agreements
        is not intended to be complete, and is qualified in its entirety by reference
        to
        the full text of the agreements.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
      5.05&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendments to the
      Registrant&#8217;s Code of Ethics; or Waiver of a Provision of the Code of
      Ethics.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      January 29, 2008, the Board of Directors of Freeport-McMoRan Copper &amp; Gold
      Inc. (FCX) adopted The Principles of Business Conduct, which replaces in its
      entirety the Ethics and Business Conduct Policy adopted on February 4, 2003.
      The
      Principles of Business Conduct reaffirm and expand upon the Ethics and Business
      Conduct Policy, are applicable globally, and integrate separate policies that
      FCX has had in place. The Principles of Business Conduct apply to all directors,
      officers and employees of FCX.</font></font></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURE</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FREEPORT-McMoRan
      COPPER &amp; GOLD INC.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:
      /s/
      C. Donald Whitmire, Jr.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 234pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">----------------------------------------</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">C.
      Donald
      Whitmire, Jr.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vice
      President and Controller -</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
      Reporting</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(authorized
      signatory and</font></div>
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      Accounting Officer)</font></div>
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      1, 2008</font></div><br>
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fcx012808-8k.htm
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
Washington,
      D.C.  20549
FORM
      8-K
CURRENT
      REPORT
Pursuant
      to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
      of Report (Date of earliest event reported):  January 28,
      2008
FREEPORT-McMoRan
      COPPER & GOLD INC.
(Exact
      name of registrant as specified in its charter)
Delaware
1-9916
74-2480931
(State
                or other jurisdiction of incorporation)
(Commission
                File Number)
(IRS
                Employer Identification Number)
One
                North Central Avenue
Phoenix,
                Arizona
85004-4414
(Address
                of principal executive offices)
(Zip
                Code)
Registrant's
      telephone number, including area code:  (602) 366-8100
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:
[
      ]
      Written communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
[
      ]
      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)
[
      ]
      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
      Act
      (17 CFR 240.14d-2(b))
[
      ]
      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
      Act
      (17 CFR 240.13e-4(c))
Item
      5.02.
Departure of Directors
      or
      Certain Officers; Election of Directors; Appointment of Certain Officers;
      Compensatory Arrangements of Certain Officers.
(e)
Annual Incentive
      Awards
On
        January 28, 2008, the Corporate Personnel Committee of the Board of Directors
        of
        Freeport-McMoRan Copper & Gold Inc. (FCX) approved awards of restricted
        stock units to the executive officers of FCX as part of its annual incentive
        plan.  The awards were granted under the FCX 2006 Stock Incentive
        Plan.  The restricted stock units will vest ratably over a three-year
        period, provided the average return on investment for the five calendar years
        preceding the applicable vesting date is at least 6%.  The FCX
        executive officers received the following awards:  James R. Moffett,
        Chairman of the Board, received 173,505 restricted stock units; Richard C.
        Adkerson, President and Chief Executive Officer, received 173,505 restricted
        stock units; Kathleen L. Quirk, Executive Vice President, Chief Financial
        Officer and Treasurer, received 19,929 restricted stock units; and Michael
        J.
        Arnold, Executive Vice President and Chief Administrative Officer, received
        19,929 restricted stock units.  These awards were in addition to the
        restricted stock units received by Messrs. Adkerson and Arnold and Ms. Quirk
        pursuant to their elections to receive restricted stock units in lieu of
        all
        (Mr. Adkerson) or a portion (Mr. Arnold and Ms. Quirk) of their annual cash
        bonus.  These awards will be detailed in the FCX Proxy Statement filed
        in connection with the 2008 annual meeting of the FCX stockholders.
Executive
      Employment Agreements
Effective
        January 29, 2008, FCX entered into executive employment agreements with each
        of
        Richard C. Adkerson, President and Chief Executive Officer of FCX, and Kathleen
        L. Quirk, Executive Vice President, Chief Financial Officer and Treasurer
        of
        FCX.  The agreements were approved by the Board of Directors of
        FCX.  These agreements supersede the executive employment agreement
        and the change of control agreement entered into between FCX and Mr. Adkerson
        dated April 30, 2001 and amended December 10, 2003, and the change of control
        agreement entered into between FCX and Ms. Quirk dated February 3, 2004.
The
        new
        agreements reflect the current base salary for each executive officer, namely
        $2,500,000 for Mr. Adkerson and $650,000 for Ms. Quirk, and provide that
        each
        executive officer is eligible to earn an annual bonus under FCX's annual
        incentive plan.  The agreements also contain non-competition,
        nondisclosure and other provisions intended to protect FCX's interests in the
        event that the executive officer ceases to be employed.
The
        original term of each agreement expires January 1, 2012, but will automatically
        extend for additional one-year terms unless prior written notice is given
        by the
        corporate personnel committee that it does not wish to extend the
        agreement.  In the event of a change of control of FCX, the agreements
        will expire on the later of January 1, 2012 or three years following the
        change
        of control.
Each
        executive also received a grant of restricted stock units on the effective
        date
        of the agreements.  Mr. Adkerson received 200,000 restricted stock
        units and Ms. Quirk received 75,000 restricted stock units.  One-fifth
        of the units vested immediately upon grant, and the remainder will vest in
        annual increments beginning January 1, 2009.  The restricted stock
        units will also vest upon a change of control of FCX, or upon the executive's
        termination of employment as a result of death or disability only.
The
        other
        terms of both agreements are substantively similar to the terms of Mr.
        Adkerson's prior executive employment agreement and change of control agreement
        and Ms. Quirk's prior change of control agreement.  Pursuant to each
        new employment agreement, the executive will receive certain benefits in
        connection with a termination of employment under various scenarios, including
        a
        pro rata bonus payment based upon annualized performance measures in connection
        with a termination of employment for any reason other than termination by
        FCX
        for cause (as defined in the agreement) and continuation of insurance and
        welfare benefits for three years following a termination of employment for
        reasons other than cause, death or disability.  In the event either
        executive's employment is terminated by
the
        executive for good reason (as defined in the agreements) or by FCX for reasons
        other than death, disability or cause, the executive will also receive a
        cash
        payment equal to three times the sum of the executive's base salary in effect at
        the time of termination of employment and the average of the bonuses paid
        to the
        executive for the immediately preceding three fiscal years, all outstanding
        stock options will vest, certain restricted stock units will vest, and all
        outstanding units under the FCX long term performance incentive plan will
        vest
        and be paid out.  The same provisions will apply in the event of a
        termination of employment following a change of control, except that the
        cash
        payment received by the executive in connection with a termination of employment
        by the executive for good reason or by FCX or the surviving company for reasons
        other than death, disability or cause, will be equal to three times the sum
        of
        the executive's base salary in effect at the time of termination of employment
        and the highest bonus paid to the executive for the immediately preceding
        three
        fiscal years.  In addition, to the extent any payments related to a
        change of control exceed 110% of the Internal Revenue Code Section 280G limit,
        each executive will be entitled to a gross-up payment to cover any excise
        taxes
        due.
The
        foregoing summary of the terms of the respective executive employment agreements
        is not intended to be complete, and is qualified in its entirety by reference
        to
        the full text of the agreements.
Item
      5.05
Amendments to the
      Registrant's Code of Ethics; or Waiver of a Provision of the Code of
      Ethics.
On
      January 29, 2008, the Board of Directors of Freeport-McMoRan Copper & Gold
      Inc. (FCX) adopted The Principles of Business Conduct, which replaces in its
      entirety the Ethics and Business Conduct Policy adopted on February 4, 2003.
      The
      Principles of Business Conduct reaffirm and expand upon the Ethics and Business
      Conduct Policy, are applicable globally, and integrate separate policies that
      FCX has had in place. The Principles of Business Conduct apply to all directors,
      officers and employees of FCX.
SIGNATURE
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
FREEPORT-McMoRan
      COPPER & GOLD INC.
By:
      /s/
      C. Donald Whitmire, Jr.
----------------------------------------
C.
      Donald
      Whitmire, Jr.
Vice
      President and Controller -
Financial
      Reporting
(authorized
      signatory and
Principal
      Accounting Officer)
Date:  February
      1, 2008