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31 Related party transactions continued
Ahold
Annual Report 2011
Groupata glance
Performance
Governance
Investors
Notes to the consolidated financial statements continued
Employment contracts with individual Corporate Executive Board members
Dick Boer
In 2011, the Company provided Dick Boer with a base salary of €945,000 on an annual basis, participation in the annual cash incentive
plan, and participation in the Company's equity-based long-term incentive plan (GRO - see Note 32). The at-target payout under the
annual cash incentive plan is 100 percent of base salary and is capped at 125 percent in case of extraordinary performance. Unless
Boer's employment agreement is otherwise terminated, he will be eligible for reappointment at the annual General Meeting of
Shareholders in April 2015. In the event that the Company terminates his employment agreement for reasons other than cause or
because he is not reappointed by the shareholders, Boer is entitled to a severance payment equal to one year's base salary. His
employment agreement may be terminated by the Company with a notice period of 12 months and by Boer with a notice period of six
months. Boer participates in Ahold's Dutch Pension Plan.
Lodewijk Hijmans van den Bergh
In 2011, the Company provided Lodewijk Hijmans van den Bergh with a base salary of €500,000 on an annual basis, participation
in the annual cash incentive plan, and participation in the Company's equity-based long-term incentive plan (GRO - see Note 32).
The at-target payout under the annual cash incentive plan is 100 percent of base salary and is capped at 125 percent in case of
extraordinary performance. Unless Hijmans van den Bergh's employment agreement is otherwise terminated, he will be eligible for
reappointment in 2014. In the event that the Company terminates his employment agreement for reasons other than cause or because
he is not reappointed by the shareholders, Hijmans van den Bergh is entitled to a severance payment equal to one year's base salary.
His employment agreement may be terminated by the Company with a notice period of 12 months and by Hijmans van den Bergh
with a notice period of six months. Hijmans van den Bergh participates in Ahold's Dutch Pension Plan.
John Rishton
In 2011, the Company provided John Rishton with a base salary of €945,000 on an annual basis, participation in the annual cash incentive
plan, and participation in the Company's equity-based long-term incentive program (GRO - see Note 32). The at-target payout under the
annual cash incentive plan was 100 percent of the base salary and was capped at 125 percent in case of extraordinary performance.
He participated in Ahold's Dutch Pension Plan. Rishton voluntarily resigned from the Corporate Executive Board on February 28, 2011
Kimberly Ross
In 2011, the Company provided Kimberly Ross with a base salary of €550,000 on an annual basis, participation in the annual cash
incentive plan, and participation in the Company's equity-based long-term incentive plan (GRO - see Note 32). The at-target payout
under the annual cash incentive plan was 100 percent of base salary and was capped at 125 percent in case of extraordinary
performance. Ross participated in the U.S. Benefit Plans - the Salary Continuation Plan (SCP) and the 401 (k) Plan. Ross voluntarily
resigned from the Corporate Executive Board on November 22, 2011.
Lawrence Benjamin
In 2011, the Company provided Lawrence Benjamin with a base salary of $986,000 on an annual basis, participation in the annual cash
incentive plan, and participation in the Company's equity-based long-term incentive plan (GRO - see Note 32). The at-target payout under
the annual cash incentive plan was 100 percent of base salary and was capped at 125 percent in case of extraordinary performance.
He participated in the U.S. Benefit Plans - the Salary Continuation Plan (SCP) and the 401(k) Plan. Benjamin retired on January 31, 2011.
