Financial statements - Notes to the consolidated financial statements
Note 8
Mr. Wakkie
The Supervisory Board will nominate Mr. Rishton for appointment to the Corporate Executive Board at the Annual General
Meeting of Shareholders on May 18, 2006. If Mr. Rishton is appointed, unless his employment agreement is otherwise
terminated, he will be eligible for reappointment in 2010. In the event he is not appointed in May 2006 or not reappointed at
a subsequent date, the employment agreement terminates and Mr. Rishton is entitled to a severance payment corresponding
to one year's base salary. In the event he is not appointed in May 2006 he is also entitled to keep any granted shares (the
conditions of which will lapse upon the resulting termination).
The Company's employment agreement with Mr. Wakkie, dated October 9, 2003, provides for a base salary of EUR 500 per
year and a bonus, as well as participation in the Company's share option plan. The bonus is based 70% on EVA targets and
30% on two personal performance criteria set by the Supervisory Board. If these targets are met, the bonus will equal 100%
of his base salary for the relevant year, ranging to a maximum bonus of 125% in a situation of outperforming the targets.
Mr. Wakkie's contractual entitlement to receive a grant of 150,000 Ahold common shares has been converted into participation
in the Company's 2004-2006 Performance Share Grant program (see Note 9). Mr. Wakkie also participates in the Ahold
pension plan. Unless Mr. Wakkie's employment agreement is otherwise terminated, he will retire in 2008. Mr. Wakkie's
employment agreement does not include any severance arrangement and the agreement may be terminated with a notice
period of three months by either Mr. Wakkie or Ahold.
Mr. Ryöppönen
Mr. Ryöppönen joined the Corporate Executive Board in June 2003 and he resigned from the Corporate Executive Board
effective August 31, 2005. The Company's employment agreement with Mr. Ryöppönen provided for a base salary of EUR 650
per year and a bonus, as well as participation in Ahold's share option plan. The bonus was based 70% on EVA targets and 30%
on two personal performance criteria set by the Supervisory Board. If these targets were met, the bonus would equal 125% of
his base salary for the relevant year. For the first 12 months of his employment, Mr. Ryöppönen was entitled to a guaranteed
bonus of 70% of this annual target bonus amount. For the following 12 months of employment, Mr. Ryöppönen was entitled
to a guaranteed bonus of 50% of his annual target bonus amount. Pursuant to his employment agreement, Mr. Ryöppönen
received a grant of 80,000 Ahold common shares in July 2004 and a grant of 50,000 Ahold common shares in December
2004, subject to the terms and conditions of the Restricted Share Retention Agreement for Key Management (see Note 9).
In addition Mr. Ryöppönen participated in the Company's 2004 - 2006 Performance Share Grant program (see Note 9).
Mr. Ryöppönen participated in the Ahold pension plans. No severance was paid to Mr. Ryöppönen when he resigned.
Mr. De Raad
Mr. De Raad joined the Corporate Executive Board in 2001 and he retired from the Corporate Executive Board effective
January 7, 2005. The Company's employment agreement with Mr. De Raad provided for a base salary of EUR 632 per year and
a bonus, as well as participation in Ahold's share option plan. Effective 2004 the bonus was based 70% on EVA targets and
30% on a personal performance criterion set by the Supervisory Board. If these targets were met, the bonus would equal 125%
of his base salary for the relevant year. In addition Mr. De Raad participates in the Company's 2004 - 2006 Performance
Share Grant program (see Note 9). After his retirement from the Corporate Executive Board, Mr. De Raad remained employed
by the Company to assist with finalization of the divestment activities until July 1, 2005. Mr. De Raad received a severance
payment of EUR 637 at the date of his retirement.
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