<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>8
<FILENAME>tex10_4-1365.txt
<DESCRIPTION>EX-10.4
<TEXT>
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                                                                    EXHIBIT 10.4

                               SEVERANCE AGREEMENT


           THIS AGREEMENT IS DATED AS OF _______________________.

BETWEEN:

           KINROSS GOLD CORPORATION, a corporation incorporated under the laws
           of the Province of Ontario (hereinafter called the "Corporation")

                                                               OF THE FIRST PART

                                     - and -

           _____________________ (hereinafter called the "Executive")

                                                              OF THE SECOND PART


           WHEREAS the Executive is an employee of the Corporation and is
considered by the Board of Directors of the Corporation to be a valued employee
that has devoted his ability, time, effort and energy to the affairs of the
Corporation;

           AND WHEREAS the Corporation considers the continuance of a sound and
vital management to be essential to protecting and enhancing the best interests
of the Corporation and its shareholders;

           AND WHEREAS the Corporation desires to assure itself of retaining the
services of the Executive (including his services without distraction by
uncertainties and risks in the event of a proposed change of control of the
Corporation) and to reward the Executive for his valuable, dedicated service to
the Corporation, should his service terminate under the circumstances
hereinafter described;

           NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the
mutual covenants herein contained and in consideration of the Executive
remaining in the employment of the Corporation at the present time, it is hereby
agreed as follows:

1.        DEFINITIONS

     (a)  "AGREEMENT" means this Agreement as amended from time to time;

     (b)  "ANNUAL COMPENSATION" shall mean an amount equal to Executive's annual
          base salary at the annual rate in effect at his Date of Termination,
          plus all benefits, quantified as 15% of the Executive's annual base
          salary, paid or payable excluding bonuses or foreign supplements.

<PAGE>

     (c)  "BOARD OF DIRECTORS" means the board of directors of the Corporation
          as at the date of this Agreement.

     (d)  "CAUSE" shall mean termination of Executive's employment by the
          Corporation or any subsidiary thereof or successor thereto, by reason
          of Executive's:

          (i)   gross negligence in the performance of his duties;

          (ii)  wilful and continued failure to substantially perform his duties
                determined on a historic basis prior to a Change of Control with
                the Corporation;

          (iii) wilful engagement in conduct which is materially injurious to
                the Corporation or its subsidiaries (monetarily or otherwise);
                or

          (iv) conviction of a criminal offence involving moral turpitude.

          For purposes of this subparagraph 1(d) no act, or failure to act, on
          Executive's part shall be considered "wilful" unless done
          intentionally, or intentionally omitted by Executive not in good faith
          and without reasonable belief that his action or omission was in the
          best interests of the Corporation.

     (e)  "CHANGE OF CONTROL" means the occurrence of any one or more of the
          following events:

          (i)  a consolidation, merger, amalgamation, arrangement or other
               reorganization or acquisition involving the Corporation or any of
               its affiliates (as such is defined in the Business Corporations
               Act (Ontario)) and another corporation or other entity, as a
               result of which the holders of common shares of the Corporation
               prior to the completion of the transaction hold less than 50% of
               the outstanding common shares of the successor corporation after
               completion of the transaction;

          (ii) the sale, lease, exchange or other disposition, in a single
               transaction or a series of related transactions, of assets,
               rights or properties of the Corporation and/or any of its
               subsidiaries which have an aggregate book value greater than 30%
               of the book value of the assets, rights and properties of the
               Corporation and its subsidiaries on a consolidated basis to any
               other person or entity, other than a disposition to a
               wholly-owned subsidiary of the Corporation in the course of a
               reorganization of the assets of the Corporation and its
               subsidiaries;

                                       -2-
<PAGE>

          (iii) a resolution is adopted to wind-up, dissolve or liquidate the
                Corporation;

          (iv)  any person, entity or group of persons or entities acting
                jointly or in concert (an "Acquiror") acquires or acquires
                control (including, without limitation, the right to vote or
                direct the voting) of Voting Securities of the Corporation
                which, when added to the Voting Securities owned of record or
                beneficially by the Acquiror or which the Acquiror has the right
                to vote or in respect of which the Acquiror has the right to
                direct the voting, would entitle the Acquiror and/or associates
                and/or affiliates of the Acquiror (as such terms are defined in
                the Business Corporations Act (Ontario)) to cast or to direct
                the casting of 20% or more of the votes attached to all of the
                Corporation's outstanding Voting Securities which may be cast to
                elect directors of the Corporation or the successor corporation
                (regardless of whether a meeting has been called to elect
                directors);

          (v)   as a result of or in connection with: (A) the contested election
                of directors, or; (B) a consolidation, merger, amalgamation,
                arrangement of other reorganization or acquisitions involving
                the Corporation of any of its affiliates and another corporation
                or other entity, the nominees named in the most recent
                Management Information Circular of the Corporation for election
                to the Board of Directors shall not constitute a majority of the
                Board of Directors; or

          (vi)  the Board adopts a resolution to the effect that a Change of
                Control as defined herein has occurred or is imminent.

                For the purposes of the foregoing "Voting Securities" means
                common shares of the Corporation and any other shares entitled
                to vote for the election of directors and shall include any
                security, whether or not issued by the Corporation, which are
                not shares entitled to vote for the election of directors but
                are convertible into or exchangeable for shares which are
                entitled to vote for the election of directors including any
                options or rights to purchase such shares or securities.

     (f)  "DATE OF TERMINATION" shall mean:

                  (i)      if Executive's employment is terminated following a
                           Triggering Event, the date specified in the Notice of
                           Termination; and

                  (ii)     if Executive's employment is terminated for any other
                           reason, the date on which a Notice of Termination is
                           given.

                                       -3-
<PAGE>

     (g)  "DISABILITY" shall mean incapacity due to physical or mental illness,
          which shall have caused Executive to have been absent from his duties
          with the Corporation on a full-time basis for six consecutive months.

     (h)  "NOTICE OF TERMINATION" shall mean notice which shall indicate the
          specific termination provisions in this Agreement relied upon and
          shall set forth in reasonable detail the facts and circumstances
          claimed to provide a basis for termination of Executive's employment
          under the provisions so indicated.

     (i)  "SEVERANCE AMOUNT" shall mean an amount equal to: (A + B)

           Where: "A" =  2 x the Executive's Annual Compensation; and

                  "B" =  2 x the Executive's Target Bonus.

     (j)  "TARGET BONUS" shall mean an amount equal to the designated percentage
          of the Executive's annual base salary, as outlined in Appendix A, as
          of the Date of Termination.

     (k)  "TRIGGERING EVENT" means any one of the following events which occurs
          without the express agreement in writing of the Executive:

          (i)   an adverse change in any of the duties, powers, rights,
                discretion, salary or benefits of the Executive as they exist
                immediately prior to the Change of Control

          (ii)  a diminution of the title of the Executive as it exists
                immediately prior to the Change of Control

          (iii) a change in the person or body to whom the Executive reports
                immediately prior to the Change of Control, except if such
                person or body is of equivalent rank or stature, provided that
                this shall not include a change resulting from a promotion of
                the Executive in the normal course of business, or

          (iv)  a change in the location at which the Executive is regularly
                required immediately prior to the Change of Control to carry out
                the terms of his employment with the Corporation, unless the
                terms of employment of the Executive include the obligation to
                receive geographic transfers from time to time in the normal
                course of business.

2.   TERM

     The term of this Agreement shall commence on the date hereof and continue
for a period of two years and shall continue thereafter for successive 12 month
periods unless a written notice (the "Notice") to the contrary is given by
either party to the other

                                       -4-
<PAGE>

not less than three months prior to the end of any such successive period;
provided that if a Change of Control shall occur prior to the date or within
nine months following the date on which the Notice is received by the party to
whom it is addressed, the term of this Agreement shall extend for a period of
two years from the date on which such Change of Control occurs, and shall
continue thereafter for successive 12 month periods, unless a written notice to
the contrary is given by either party to the other not less than nine months
prior to the expiration of any such period.

3.   TERMINATION FOLLOWING CHANGE OF CONTROL

     If a Change of Control shall have occurred, Executive shall be entitled to
the benefits provided in subparagraph 4(b) upon the subsequent termination of
his employment, unless such termination is:

     (a)  because of his death or Disability;

     (b)  effected by the Corporation for Cause; or

     (c)  effected by the Executive other than following a Triggering Event.

Any termination by the Corporation for Cause or by Executive following a
Triggering Event shall be communicated by delivery of a written Notice of
Termination to the other party's last known address as provided for herein.

4.   COMPENSATION UPON TERMINATION

     (a)  If, following a Change of Control, Executive's employment shall be
          terminated for Cause, or as a result of the Executive's death or
          Disability, the Corporation or any subsidiary thereof or successor
          thereto, shall pay the Executive his full base salary to the effective
          date of such termination at the rate in effect on the date the
          Corporation notifies Executive or at the rate approved prior to the
          date of such termination, and the Corporation shall have no further
          obligations to Executive under this Agreement.

     (b)  If, following a Change of Control the Corporation or any subsidiary
          thereof or successor thereto, shall terminate Executive's employment
          other than for death, Disability or Cause, or if Executive shall
          terminate his employment following a Triggering Event, and such
          termination occurs within 18 months after the date upon which a Change
          of Control occurs, then, provided that the Executive has been employed
          by the Corporation for at least 12 months prior to the termination of
          the Executive's employment:

          A.   SALARY AND BENEFITS. The Corporation shall pay Executive a lump
               sum cash payment in an amount equal to the Severance Amount on or
               before the fifth day after the last day of Executive's employment
               with the Corporation;

                                       -5-
<PAGE>

          B.   STOCK OPTIONS. The Corporation shall cause any and all
               outstanding options to purchase common shares in the capital of
               the Corporation held by Executive to become immediately
               exercisable in full and not to lapse until the expiry of their
               original term (without regard to early termination provisions
               relating to cessation of office or employment); and

          C.   LEGAL FEES. The Corporation shall pay all reasonable legal fees
               and expenses incurred by Executive as a result of such
               termination (including all such fees and expenses, if any,
               incurred in contesting or disputing such termination or in
               seeking to obtain or enforce any right or benefit provided by
               this Agreement) promptly, from time to time, at Executive's
               request, as such fees and expenses are incurred.

     CONDITION: The right of the Executive provided for in subsection 4(b)
     hereof is conditional upon the Executive electing to exercise such right by
     providing Notice of Termination to the Corporation within 6 months after
     the Triggering Event.

5.   GENERAL

     (a)  AMOUNTS HEREIN NOT SUBJECT TO MITIGATION

          Executive shall not be obligated to seek other employment in
          mitigation of the amounts payable or arrangements made under any
          provision of this Agreement and the obtaining of any such other
          employment shall in no event effect any reduction of the Corporation's
          obligations to make (or cause to be made), the payments and
          arrangements required to be made under this Agreement.

     (b)  SUCCESSORS

          This Agreement shall be binding upon and enure to the benefit of the
          Corporation and any successor of the Corporation, by merger or
          otherwise. This Agreement shall also be binding upon and enure to the
          benefit of Executive, his heirs and personal representatives of his
          estate.

     (c)  SEVERABILITY

          Any provision in this Agreement which is prohibited or unenforceable
          in any jurisdiction by reason of applicable law shall, as to such
          jurisdiction, be in effect only to the extent of such prohibition or
          unenforceability without invalidating or effecting the remaining
          provisions hereof, and any such prohibition or unenforceability in any
          jurisdiction shall not invalidate or render unenforceable such
          provision in any other jurisdiction.

                                       -6-
<PAGE>

     (d)  TIME

          Time shall be of the essence of this Agreement.

     (e)  CURRENCY

          All of the sums of money referred to in this Agreement shall mean
          Canadian funds.

     (f)  GOVERNING LAW

          This Agreement shall be governed and construed in accordance with the
          laws of the Province of Ontario and the federal laws of Canada
          applicable therein.

     (g)  ENTIRE AGREEMENT

          This Agreement constitutes the entire agreement and understanding
          between and among the parties hereto with respect to the subject
          matter hereof and supersedes any prior agreement, representation or
          understanding with respect thereto.

     (h)  AMENDMENTS

          This Agreement may not be modified, amended, altered or supplemented
          except upon the execution and delivery of a written agreement executed
          by all of the parties hereto.

     (i)  INDEPENDENT ADVICE

          The Executive acknowledges having been advised that he is entitled to
          obtain independent legal advice with respect hereto prior to executing
          this Agreement.


     (j)  RELEASE OF CLAIMS

          Notwithstanding any other provisions contained in this Agreement, the
          Corporation shall require, as a condition precedent to the payment of
          the Severance Payments to the Executive, that the Executive execute,
          after his last day of employment by the Corporation, a release and
          covenant in favor of the Corporation and its stockholders, officers,
          employees, directors and affiliates in the form appended hereto as
          Exhibit "A". If the Executive fails to provide the required release
          and covenant, or within seven days following its delivery to the
          Corporation revokes the required release and covenant, and the
          Corporation has not alleged just cause for termination or denied a
          Triggering Event in connection with the termination of employment, the
          sole obligation of the Corporation to the Executive

                                       -7-
<PAGE>

          under this Agreement shall be the payment of the equivalent of two
          weeks salary calculated as at the time of termination.

     (k)  PLURAL AND GENDER:

          Whenever used in this Agreement, words importing the singular number
          only shall include the plural and vice versa and words importing the
          masculine gender shall include the feminine gender.

     (l)  NOTICES

          Any notice, request, consent, agreement or approval which may or is
          required to be given pursuant to this Agreement, shall be in writing
          and shall be sufficiently given or made if delivered or telecopied in
          the case of:

          (i)  the Corporation, addressed as follows:

               Kinross Gold Corporation
               40 King Street West
               57th Floor
               Toronto ON  M5H 3Y2

               Attention: ________________

               Telephone:   (416) 365-5123
               Telecopier:  (416) 363-6622

          (ii) the Executive (by delivery only), addressed as follows:

               ------------------

          or to such other address as the relevant party may from time to time
          advise by notice in writing given pursuant to this section. The date
          of receipt of any such notice, request, consent, agreement or approval
          shall be deemed to be the date of delivery or telecopy (if during
          normal business hours or, if not, the next business day).

     (j)  COUNTERPARTS

          This Agreement may be executed in one or more counterparts which
          together shall be deemed to constitute one valid and binding agreement
          and delivery of the counterparts may be effected by means of a
          telecopied transmission.

                                       -8-
<PAGE>

                                        KINROSS GOLD CORPORATION


                                        Per:
                                             ___________________________________


SIGNED, SEALED AND DELIVERED    )
          in the presence of    )
                                )
                                )
____________________________    )            ___________________________________
                Witness         )

                                       -9-

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