BHP Billiton chief executive Andrew Mackenzie received a $US100,000 pay rise in the last financial year, but missed out on a higher increase after two fatalities and lower than targeted output of key commodities.
The increase bumped up Mackenzie's pay to $US4.66 million from $US4.55 million a year earlier.
Target remuneration stood at $US7.72 million with a maximum of $US13.1 million the in the case of "significant outperformance", BHP said in its annual report.
For the coming year, Mackenzie's base salary will remain at $US1.7 million, where it has been frozen since he was appointed to the top job in 2013.
The rest of his remuneration is based on meeting a mix of short and long term incentive targets.
The pay increase took into account two fatalities: at the Goonyella Riverside coking coal mine in the Australian state of Queensland in August 2017, and at the Permian Basin Shale operations in West Texas in November last year, BHP said in the report.
It also reflected overall volumes of coal, iron ore and copper that fell short of the miner's "stretch" targets.
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