Exhibit 1.1
 
 DEED OF AMENDMENT OF THE ARTICLES OF ASSOCIATION  STMICROELECTRONICS N.V.
   STMicroelectronics N.V.
  ARTICLES OF ASSOCIATION:
 Name, seat and duration.  Article 1.
 1.1.
    
    The name of the company is: STMicroelectronics N.V.1.2.
    
    The company is established in Amsterdam.1.3.
    
    The company will continue for an indefinite period.
 Objects.  Article 2.
  Share capital.




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Article 3.
 3.1.
    
    The authorized capital of the company amounts to one billion eight hundred nine million six
hundred thousand euro (EUR 1,809,600,000), consisting of one billion two hundred million
(1,200,000,000) ordinary shares and five hundred forty million (540,000,000) cumulative preference
shares, hereinafter referred to as: preference shares, of one euro and four eurocents (EUR 1.04)
each.3.2.
    
    Where in these articles of association reference is made to shares and shareholders this shall
include the shares of each class as well as the holders of shares of each class respectively,
unless explicitly provided otherwise.
 Issue of shares.  Article 4.
 4.1.
    
    The supervisory board shall have the power to issue shares and to determine the terms and
conditions of such issue if and in so far as the supervisory board has been designated by the
general meeting of shareholders as the authorized body for this purpose. A designation as referred
to above shall only take place for a specific period of no more than five years and may not be
extended by more than five years on each occasion.4.2.
    
    If a designation as referred to in the first paragraph is not in force, the general meeting of
shareholders shall have the power, upon the proposal of and on the terms and conditions set by the
supervisory board to resolve to issue shares.4.3.
    
    In the event of an issue of ordinary shares, shareholders shall have a pre-emptive right in
proportion to the number of ordinary shares which they own, notwithstanding the provisions of the
law. In respect of the issue of shares there shall be no preemptive right to shares issued against
a contribution other than in cash or issued to employees of the company or of a group company.In the event of an issue of preference shares none of the shareholders shall have a
pre-emptive right.The supervisory board shall have the power to limit or exclude the pre-emptive right
accruing to shareholders, if and in so far as the supervisory board has also been
designated by the general meeting of shareholders for this purpose as the authorized body
for the period of such designation. The provisions in the second sentence of the first
paragraph shall equally apply.4.4.
    
    If a designation as referred to in the third paragraph is not in force, the general meeting of
shareholders shall have the power, upon the proposal of the supervisory board, to limit or exclude
the pre-emptive right accruing to shareholders.4.5.
    
    A resolution of the general meeting of shareholders to limit or exclude pre-emptive rights or
to designate the supervisory board as authorized to resolve upon limiting or excluding of
pre-emptive rights requires a majority of at least two-thirds of the votes cast in a meeting if in
such meeting less than one-half of the issued share capital is present or represented.4.6.
    
    Without prejudice to what has been provided in section 80, paragraph 2, Book 2, Dutch Civil
Code shares shall at no time be issued below par.4.7.
    
    Ordinary shares shall be issued only against payment in full; preference shares may be issued
against partial payment, provided that the proportion of the nominal amount
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that must be paid on each preference share, irrespective of when it was issued, shall be
the same and that at least one quarter of the nominal amount is paid up in full when the
share is subscribed for.4.8.
    
    Payment must be made in cash to the extent that no other contribution has been agreed upon. If
the company so consents, payment in cash can be made in a foreign currency.In the event of payment in a foreign currency the obligation to pay is for the amount
which can be freely exchanged into Dutch currency. The decisive factor is the rate of
exchange on the day of payment, or as the case may be after application of the next
sentence, on the day mentioned therein. The company can require payment at the rate of
exchange on a certain day within two months prior to the last day when payment shall have
to be made provided that the shares or depositary receipts for shares after having been
issued - shall immediately be incorporated in the price list of an exchange abroad.4.9.
    
    This article shall equally apply to the granting of rights to subscribe for shares, but shall
not apply to the issue of shares to someone who exercises a previously acquired right to subscribe
for shares.4.10.
    
    The managing board shall determine, subject to the approval by the supervisory board, when
and in what amount further payment is to be made in respect of partially paid preference shares.
The managing board shall notify the shareholders concerned thereof in writing at least thirty days
before the date on which the payment must finally be made.4.11.
    
    The provisions of article 27 paragraph 2 shall apply accordingly to all notifications to
shareholders.
 Repurchase and cancellation of shares.  Article 5.
 5.1.
    
    The company may acquire, for valuable consideration, shares in its own share capital if and in
so far as:
 a.
    
    its equity less the purchase price of these shares is not less than the aggregate amount of
the paid up and called up capital and the reserves which must be maintained pursuant to the law;b.
    
    the par value of the shares in its capital which the company acquires, holds or holds in
pledge, or which are held by a subsidiary company, amounts to no more than one-tenth of the
issued share capital; andc.
    
    the general meeting of shareholders has authorized the managing board to acquire such shares,
which authorization may be given for no more than eighteen months on each occasion,
notwithstanding the further statutory provisions.
 5.2.
    
    The company may, without being authorized thereto by the general meeting of shareholders and
notwithstanding to what is provided in paragraph 1 under a and b, acquire shares in its own share
capital in order to transfer those shares to the employees of the company or a group company under
a scheme applicable to such employees.5.3.
    
    Shares thus acquired may again be disposed of. The company shall not acquire
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shares in its own share capital as referred to in paragraph 1 - if an authorization as
referred to in such paragraph is in force - or as referred to in paragraph 2 without the
prior approval of the supervisory board. The company shall also not dispose of shares in
its own share capital - with the exception of shares in the companys own share capital
acquired pursuant to paragraph 2 - without the prior approval of the supervisory board.If depositary receipts for shares in the company have been issued, such depositary
receipts shall for the application of the provisions of this paragraph and the preceding
paragraph be treated as shares.5.4.
    
    In the general meeting of shareholders no votes may be cast in respect of (a) share(s) held by
the company or a subsidiary company; no votes may be cast in respect of a share the depositary
receipt for which is held by the company or a subsidiary company. However, the holders of a right
of usufruct and the holders of a right of pledge on shares held by the company and its subsidiary
companies, are nonetheless not excluded from the right to vote such shares, if the right of
usufruct or the right of pledge was granted prior to the time such share was held by the company or
a subsidiary company. Neither the company nor a subsidiary company may cast votes in respect of a
share on which it holds a right of usufruct or a right of pledge.Shares in respect of which voting rights may not be exercised by law or by the articles of
association shall not be taken into account, when determining to what extent the
shareholders cast votes, to what extent they are present or represented or to what extent
the share capital is provided or represented.5.5.
    
    Upon the proposal of the supervisory board the general meeting of shareholders shall, with due
regard of the provisions of section 99, Book 2, Dutch Civil Code, have the power to decide to
reduce the issued share capital by canceling shares or by reducing the par value of shares by an
amendment to the articles of association. Cancellation of shares with repayment or partial
repayment or a release from the obligation to pay up may also take place solely in respect of
preference shares. In case of cancellation of preference shares with repayment, a payment on the
relevant shares shall be made in the amount of:
 a.
    
    the amount paid up on the relevant shares; increased withb.
    
    an amount equal to the dividend not yet declared calculated over the period up to and
including the day of repayment, such in the manner as determined in article 37, paragraph 2, sub
e.
 Shares, share certificates, share register.  Article 6.
 6.1.
    
    Shares shall be in registered form.6.2.
    
    Ordinary shares shall be available:
 -
    
    in the form of an entry in the share register without issue of a share certificate;
shares of this type are referred to in these articles of association as type I shares;-
    
    and - should the supervisory board so decide - in the form of an entry in the share
register with issue of a certificate, which certificate shall consist of a main part
without dividend coupon; shares of this type and share certificates of this type are
referred to in these articles of association as type II shares.
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Preference shares shall only be made available in the form of type I shares.6.3.
    
    The supervisory board can decide that the registration of type I shares may only take place
for one or more quantities of shares - which quantities are to be specified by the supervisory
board - at the same time.6.4.
    
    Type II share certificates shall be available in such denominations as the supervisory board
shall determine.6.5.
    
    All share certificates shall be signed by or on behalf of a managing director; the signature
may be effected by printed facsimile. Furthermore type II share certificates shall, and all other
share certificates may, be countersigned by one or more persons designated by the managing board
for that purpose.6.6.
    
    All share certificates shall be identified by numbers and/or letters.6.7.
    
    The supervisory board can determine that for the purpose of effecting trading or transfer of
shares at foreign exchanges share certificates shall be issued in such form as the supervisory
board may determine, complying with the requirements set by said foreign exchange(s) and not
provided with any dividend sheet.6.8.
    
    The expression share certificate as used in these articles of association shall include a
share certificate in respect of more than one share.
 Article 7.
 7.1.
    
    Upon written request from a shareholder, missing or damaged share certificates, or parts
thereof, may be replaced by new certificates or by duplicates bearing the same numbers and/or
letters, provided the applicant proves his title and, in so far as applicable, his loss to the
satisfaction of the supervisory board, and further subject to such conditions as the managing board
may deem fit.7.2.
    
    In appropriate cases, at its own discretion, the managing board may stipulate that the
identifying numbers and/or letters of missing documents be published three times, at intervals of
at least one month, in at least three newspapers to be indicated by the managing board announcing
the application made; in such a case new certificates or duplicates may not be issued until six
months have expired since the last publication, always provided that the original documents have
not been produced to the managing board before that time.7.3.
    
    The issue of new certificates or duplicates shall render the original document invalid.
 Article 8.
 8.1.
    
    Notwithstanding the statutory provisions in respect of registered shares a register shall be
kept by or on behalf of the company, which register shall be regularly updated and, at the
discretion of the managing board, may, in whole or in part, be kept in more than one copy and at
more than one place.A part of the register may be kept abroad in order to meet requirements set out by foreign
statutory provisions or provisions of the foreign exchange.8.2.
    
    Each shareholders name, his address and such further data as the managing board deems
desirable, whether at the request of a shareholder or not, shall be entered in the register.8.3.
    
    The form and the contents of the share register shall be determined by the managing board with
due regard to the provisions of paragraphs 1 and 2 of this article.The managing board may determine that the records shall vary as to their form and
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contents according to whether they relate to type I shares or to type II shares.8.4.
    
    Upon
request a shareholder shall be given free of charge a declaration of what is stated in the register
with regard to the shares registered in his name, which declaration may be signed by one of the
specially authorized persons to be appointed by the managing board for this purpose.8.5.
    
    The provisions of the last four paragraphs shall equally apply to those who hold a right of
usufruct or of pledge on one or more registered shares, with the proviso that the other data
required by law must be entered in the register.
 Article 9.
 9.1.
    
    Subject to the provisions of article 6, the holder of an entry in the share register for one
or more type I shares may, upon his request and at his option, have issued to him one or more type
II share certificates for the same nominal amount.9.2.
    
    Subject to the provisions of article 6, the holder of a type II share certificate registered
in his name may, after lodging the share certificate with the company, upon his request and at his
option, either have one or more type I shares entered in the share register for the same nominal
amount.9.3.
    
    A request as mentioned in this article shall, if the supervisory board so requires, be made on
a form obtainable from the company free of charge, which shall be signed by the applicant.
 Transfer of shares.  Article 10.
 10.1.
    
    The transfer of a registered share shall be effected either by service upon the company of
the instrument of transfer or by written acknowledgement of the transfer by the company, subject
however to the provisions of the following paragraphs of this article.10.2.
    
    Where a transfer of a type II share is effected by service of an instrument of transfer on
the company, the company shall, at the discretion of the managing board, either endorse the
transfer on the share certificate or cancel the share certificate and issue to the transferee one
or more new share certificates registered in his name to the same nominal amount.10.3.
    
    The companys written acknowledgement of a transfer of a type II share shall, at the
discretion of the managing board, be effected either by endorsement of the transfer on the share
certificates or by the issue to the transferee of one or more new share certificates registered in
his name to the same nominal amount.10.4.
    
    The provisions of the foregoing paragraphs of this article shall equally apply to the
allotment of registered shares in the event of a judicial partition of any community of property or
interests, the transfer of a registered share as a consequence of a judgment execution and the
creation of limited rights in rem on a registered share. If a share certificate has been issued,
the acknowledgement can only be effected either by putting an endorsement to that effect on this
document, signed by or on behalf of the company, or by replacing this document by a new certificate
in the name of the acquirer.10.5.
    
    The submission of requests and the lodging of documents referred to in articles 7 to 10
inclusive shall be made at a place to be indicated by the managing board and in
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any case the places where the company is admitted to a stock exchange.Different places may be indicated for the different classes and types of shares and share
certificates.10.6.
    
    The company is authorized to charge amounts to be determined by the managing board not
exceeding cost price to those persons who request any services to be carried out by virtue of
articles 7 up to and including 10.
 Usufructuaries, pledgees, holders of depositary receipts.  Article 11.
 11.1.
    
    The usufructuary, who in conformity with the provisions of section 88, Book 2, Dutch Civil
Code has no right to vote, and the pledgee who in conformity with the provisions of section 89,
Book 2, Dutch Civil Code has no right to vote, shall not be entitled to the rights which by law
have been conferred on holders of depositary receipts for shares issued with the cooperation of the
company.11.2.
    
    Where in these articles of association persons are mentioned, entitled to attend meetings of
shareholders, this shall include holders of depositary receipts for shares issued with the
cooperation of the company and persons who in pursuance of paragraph 4 in section 88 or section 89,
Book 2, Dutch Civil Code have the rights that by law have been conferred on holders of depositary
receipts for shares issued with the cooperation of the company.
 Managing board.  Article 12.
 12.1.
    
    The company shall be managed by a managing board consisting of one or more managing directors
under the supervision of the supervisory board. The number of members of the managing board shall
be resolved upon by the general meeting of shareholders upon the proposal of the supervisory board.
The members of the managing board shall be appointed for three years, a year being understood as
meaning the period between two general meetings of shareholders in which the annual accounts of the
previous financial year are adopted.12.2.
    
    Managing directors shall be appointed by the general meeting of shareholders upon the
proposal of the supervisory board for each vacancy to be filled.12.3.
    
    Without prejudice to the provisions of article 28, paragraph 2, a proposal to appoint one or
more managing directors to the managing board may be placed on the agenda of a general meeting of
shareholders by the supervisory board.12.4.
    
    The company has a policy regarding the compensation of the managing board. The policy will be
adopted by the general meeting of shareholders upon the proposal of the supervisory board.12.5.
    
    The supervisory board shall determine the compensation of the individual managing directors,
within the scope of the compensation policy referred to in the previous paragraph. The supervisory
board will submit for approval by the general meeting of shareholders a proposal regarding the
compensation in the form of shares or rights to acquire shares. This proposal sets forth at least
how many shares or rights to acquire shares may be awarded to the managing board and which criteria
apply to an award or a modification.12.6.
    
    The general meeting of shareholders shall decide in accordance with the provisions of
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article 32, paragraph 1.Votes in respect of persons who have not been so nominated shall be invalid.
 Article 13.
 13.1.
    
    The general meeting of shareholders shall be entitled to suspend or dismiss one or more
managing directors, provided that at least half of the issued share capital is represented at the
meeting. No such quorum shall be required where the suspension or dismissal is proposed by the
supervisory board.13.2.
    
    Where a quorum under paragraph 1 is required but is not present, a further meeting shall be
convened, to be held within four weeks after the first meeting, which shall be entitled,
irrespective of the share capital represented, to pass a resolution in regard to the suspension or
dismissal.13.3.
    
    The managing directors can be jointly or individually suspended by the supervisory board.
After suspension a general meeting of shareholders shall be convened within three months, at which
meeting it shall be decided whether the suspension shall be cancelled or maintained.The person involved shall be given the opportunity to account for his actions at that
meeting.
 Representation.  Article 14.
 14.1.
    
    The entire managing board as well as each managing director may represent the company.14.2.
    
    The managing board may grant powers of attorney to persons, whether or not in the service of
the company, to represent the company and shall thereby determine the scope of such powers of
attorney and the titles of such persons.14.3.
    
    The managing board shall have power to perform legal acts as specified in section 94,
paragraph 1, Book 2, Dutch Civil Code in so far as such power is not expressly excluded or limited
by any provision of these articles of association or by any resolution of the supervisory board.
 Article 15.
 15.1.
    
    The supervisory board shall appoint one of the managing directors as chairman of the managing
board. Appointment of the chairman shall be resolved with the majority mentioned in article 22,
paragraph 1.15.2.
    
    Resolutions of the managing board shall be passed by simple majority of votes. In the event
of a tie of votes the chairman of the managing board shall have a casting vote.
 Article 16.
 16.1.
    
    Without prejudice to provisions made elsewhere in these articles of association, the managing
board shall require the prior express approval:
 (i)
    
    from the supervisory board for decisions relating to:
 1.
    
    all proposals to be submitted to a vote at the general meeting of shareholders;2.
    
    the formation of all companies, acquisition or sale of any participation, and conclusion of
any cooperation and participation agreement;3.
    
    all pluri-annual plans of the company and the budget for the first coming year, covering the
following matters:
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-
    
    investment policy;-
    
    policy regarding research and development, as well as commercial policy and
objectives;-
    
    general financial policy;-
    
    policy regarding personnel;
 4.
    
    all acts, decisions or operations covered by the above list and constituting a
significant change with respect to decisions already adopted by the supervisory
board or not provided for in the above list and as specifically laid down by the
supervisory board by resolution passed by it to that effect.
 (ii)
    
    from the general meeting of shareholders with respect to resolutions: regarding a
significant change in the identity or nature of the company or the enterprise, including
in any event (a) transferring the enterprise or practically the entire enterprise to a
third party, (b) entering into or canceling any long-term cooperation between the company
or a subsidiary (dochtermaatschappij) and any other legal person or company or as a
fully liable general partner of a limited partnership or a general partnership, provided
that such cooperation or the cancellation thereof is of essential importance to the
company, and (c) the company or a subsidiary (dochtermaatschappij) acquiring or disposing
of a participating interest in the capital of a company with a value of at least one-third
of the companys total assets according to the consolidated balance sheet and notes
thereto in the most recently adopted annual accounts of the company;
 the absence of the approval provided for above may not be raised by or against third parties.16.2.
    
    Without prejudice to provisions made elsewhere in these articles of association, the managing
board shall require the approval of the general meeting of shareholders according to the law and
the provisions of these articles of association as well as such resolutions as are clearly defined
by a resolution of the general meeting of shareholders to that effect.
 Article 17.
  Supervisory board.  Article 18.
 18.1.
    
    The supervisory board shall be responsible for supervising the policy pursued by the managing
board and the general course of affairs of the company and the business enterprise which it
operates.The supervisory board shall assist the managing board with advice relating to the general
policy aspects connected with the activities of the company. In fulfilling their duties
the supervisory directors shall serve the interests of the company and the
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business enterprise which it operates.18.2.
    
    The managing board shall provide the supervisory board in good time with all relevant
information as well as the information the supervisory board requests, in connection with the
exercise of its duties.18.3.
    
    At least once per year the managing board shall inform the supervisory board in writing of
the main features of the strategic policy, the general and financial risks and the management and
control systems of the company.The managing board shall then submit to the supervisory board for approval:
 a)
    
    the operational and financial objectives of the company;b)
    
    the strategy designed to achieve the objectives;c)
    
    the parameters to be applied in relation to the strategy, inter alia, regarding
financial ratios; andd)
    
    corporate social responsibility issues that are relevant to the enterprise.
 Article 19.
 19.1.
    
    The supervisory board shall consist of at least six members, to be appointed by the general
meeting of shareholders upon the proposal of the supervisory board for each vacancy to be filled.
The number of supervisory directors shall without prejudice to the preceding sentence be resolved
upon by the general meeting of shareholders upon the proposal of the supervisory board.19.2.
    
    The general meeting of shareholders shall decide in accordance with the provisions of article
32, paragraph 1.19.3.
    
    Without prejudice to the provisions of article 28, paragraph 2, a proposal to appoint one or
more supervisory directors to the supervisory board may be placed on the agenda of the general
meeting of shareholders by the supervisory board.19.4.
    
    The supervisory board shall appoint from among their midst a chairman and a vice-chairman of
the supervisory board with the majority mentioned in article 22, paragraph 1.19.5.
    
    Upon the appointment of the supervisory directors the particulars as referred to in section
142, paragraph 3, Book 2, Dutch Civil Code shall be made available for prior inspection.
 Article 20.
 20.1.
    
    The supervisory board may appoint one or more of its members as delegate supervisory director
in charge of supervising the managing board on a regular basis. They shall report their findings to
the supervisory board. The offices of chairman of the supervisory board and delegate supervisory
director are compatible.20.2.
    
    With due observance of these articles of association, the supervisory board may adopt rules
regulating the division of its duties among its various supervisory directors. The supervisory
board may also delegate certain of its powers to committees which exclusively consist of members of
the supervisory board, such as an audit committee, a compensation committee or any other committee
as the supervisory board may resolve to install. In case the authority to resolve upon the issuance
of new shares is delegated to the supervisory board, the supervisory board may install a pricing
committee which shall exclusively consist of members of the supervisory board and
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which shall be authorized within the range set in the delegation mentioned above to
determine on behalf of the supervisory board the price and conditions for newly issued
shares.20.3.
    
    The supervisory board may decide that one or more of its members shall have access to all
premises of the company and shall be authorized to examine all books, correspondence and other
records and to be fully informed of all actions which have taken place, or may decide that one or
more of its supervisory directors shall be authorized to exercise a portion of such powers.20.4.
    
    At the expense of the company, the supervisory board may obtain such advice from experts as
the supervisory board deems desirable for the proper fulfillment of its duties.
 Article 21.
 21.1.
    
    A supervisory director shall retire no later than at the first ordinary general meeting of
shareholders held after a period of three years following his appointment.A retired supervisory director may immediately be re-elected.21.2.
    
    The supervisory board may establish a rotation scheme.21.3.
    
    The supervisory directors may be suspended or dismissed by the general meeting of
shareholders. The supervisory board may make a proposal to the general meeting of shareholders for
the suspension or dismissal of one or more of its supervisory directors.
 Article 22.
 22.1.
    
    The supervisory board may pass resolutions by at least three quarters of the votes of the
members in office. Each supervisory director has the right to cast one vote. In case of absence a
supervisory director may issue a proxy, however, only to another supervisory director. The proxy
should explicitly indicate in which way the vote must be cast. The supervisory board may pass
resolutions in writing without holding a meeting provided that the proposals for such resolutions
have been communicated in writing to all supervisory directors and no supervisory director is
opposed to this method of passing a resolution.22.2.
    
    A certificate signed by two supervisory directors to the effect that the supervisory board
has passed a particular resolution shall constitute evidence of such a resolution in dealings with
third parties.22.3.
    
    The managing directors shall attend meetings of the supervisory board at the latters
request.22.4.
    
    The supervisory board shall meet whenever two or more of its members or the managing board so
requests. Meetings of the supervisory board shall be convened by the chairman of the supervisory
board, either on request of two or more supervisory directors or on request of the managing board,
or by the supervisory directors requesting the meeting to be held. If the chairman fails to convene
a meeting to be held within four weeks of the receipt of the request, the supervisory board members
making the request are entitled to convene the meeting.22.5.
    
    The supervisory board shall draw up standing orders regulating inter alia the manner of
convening board meetings and the internal procedure at such meetings. These meetings may be held by
telephone as well as by video.
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Article 23.
  Indemnification.  Article 24.
 24.1.
    
    The company shall indemnify any person who was or is a party or is threatened to be made a
party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative (other than an action by or in the right of the company) by reason
of the fact that he is or was a supervisory director, managing director, officer or agent of the
company, or was serving at the request of the company as a supervisory director, managing director,
officer or agent of another company, a partnership, joint venture, trust or other enterprise,
against all expenses (including attorneys fees) judgments, fines and amounts paid in settlement
actually and reasonably incurred by him in connection with such action, suit or proceeding if he
acted in good faith and in a manner he reasonably believed to be in or not opposed to the best
interests of the company, and, with respect to any criminal action or proceeding, had no reasonable
cause to believe his conduct was unlawful or out of his mandate. The termination of any action,
suit or proceeding by a judgment, order, settlement, conviction, or upon a plea of nolo contendere
or its equivalent, shall not, of itself, create a presumption that the person did not act in good
faith and not in a manner which he reasonably believed to be in or not opposed to the best
interests of the company, and, with respect to any criminal action or proceeding, had reasonable
cause to believe that his conduct was unlawful.24.2.
    
    The company shall indemnify any person who was or is a party or is threatened to be made a
party to any threatened, pending or completed action or proceeding by or in the right of the
company to procure a judgment in its favor, by reason of the fact that he is or was a supervisory
director, managing director, officer or agent of the company, or is or was serving at the request
of the company as a supervisory director, managing director, officer or agent of another company, a
partnership, joint venture, trust or other enterprise, against expenses (including attorneys fees)
actually and reasonably incurred by him in connection with the defense or settlement of such action
or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not
opposed to the best interests of the company and except that no indemnification shall be made in
respect of any claim, issue or matter as to which such person shall have been adjudged to be liable
for gross negligence or willful misconduct in the performance of his duty to the company, unless
and only to the extent that the court in which such action or proceeding was brought or any other
court having appropriate jurisdiction shall determine upon application that, despite the
adjudication of liability but in view of all the circumstances of the case, such person is fairly
and reasonably entitled to indemnification against such expenses which the court in which such
action or proceeding was brought or such other court having
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appropriate jurisdiction shall deem proper.24.3.
    
    To the extent that a supervisory director, managing director, officer or agent of the company
has been successful on the merits or otherwise in defense of any action, suit of proceeding,
referred to in paragraphs 1 and 2, or in defense of any claim, issue or matter therein, he shall be
indemnified against expenses (including attorneys fees) actually and reasonable incurred by him in
connection therewith.24.4.
    
    Any indemnification by the company referred to in paragraphs 1 and 2 shall (unless ordered by
a court) only be made upon a determination that indemnification of the supervisory director,
managing director, officer or agent is proper in the circumstances because he had met the
applicable standard of conduct set forth in paragraphs 1 and 2. Such determination shall be made:
 a.
    
    either by the supervisory board by a majority vote in a meeting in which a quorum as
mentioned in article 22, paragraph 1, and consisting of supervisory directors who where not
parties to such action, suit or proceeding, is present;b.
    
    or, if such a quorum is not obtainable or although such a quorum is obtained if the
majority passes a resolution to that effect, by independent legal counsel in a written
opinion;c.
    
    or by the general meeting of shareholders.
 24.5.
    
    Expenses incurred in defending a civil or criminal action, suit or proceeding may be paid by
the company in advance of the final disposition of such action, suit or proceeding upon a
resolution of the supervisory board with respect to the specific case upon receipt of an
undertaking by or on behalf of the supervisory director, managing director, officer or agent to
repay such amount unless it shall ultimately be determined that he is entitled to be indemnified by
the company as authorized in this article.24.6.
    
    The indemnification provided for by this article shall not be deemed exclusive of any other
right to which a person seeking indemnification may be entitled under any bylaws, agreement,
resolution of the general meeting of shareholders or of the disinterested supervisory directors or
otherwise, both as to actions in his official capacity and as to actions in another capacity while
holding such position, and shall continue as to a person who has ceased to be a supervisory
director, managing director, officer or agent and shall also inure to the benefit of the heirs,
executors and administrators of such a person.24.7.
    
    The company shall have the power to purchase and maintain insurance on behalf of any person
who is or was a supervisory director, managing director, officer or agent of the company, or is or
was serving at the request of the company as a supervisory director, managing director, officer,
employee or agent of another company, a partnership, joint venture, trust or other enterprise,
against any liability asserted against him and incurred by him in any such capacity or arising out
of his capacity as such, whether or not the company would have the power to indemnify him against
such liability under the provisions of this article.24.8.
    
    Whenever in this article reference is being made to the company, this shall include, in
addition to the resulting or surviving company also any constituent company (including any
constituent company of a constituent company) absorbed in a consolidation or
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merger which, if its separate existence had continued, would have had the power to
indemnify its supervisory directors, managing directors, officers and agents, so that any
person who is or was a supervisory director, managing director, officer or agent of such
constituent company, or is or was serving at the request of such constituent company as a
supervisory director, managing director, officer or agent of another company, a
partnership, joint venture, trust or other enterprise, shall stand in the same position
under the provisions of this article with respect to the resulting or surviving company as
he would have with respect to such constituent company if its separate existence had
continued.
 General meeting of shareholders.  Article 25.
 25.1.
    
    The ordinary general meeting of shareholders shall be held each year within six months after
the close of the financial year.25.2.
    
    At this general meeting of shareholders shall be dealt with:
 a.
    
    the written report of the managing board on the course of business of the company
and the conduct of its affairs during the past financial year, and the report of the
supervisory board on the annual accounts;b.
    
    adoption of the annual accounts and the declaration of dividend in the manner
laid down in article 37;c.
    
    granting of discharge to the managing directors for their management during the
past financial year and to the members of the supervisory board for their supervision on
such management;d.
    
    filling vacancies in the managing board in accordance with the provisions of
article 12;e.
    
    filling vacancies in the supervisory board in accordance with the provisions of
article 19;f.
    
    the proposals placed on the agenda by the managing board or by the supervisory
board, together with proposals made by shareholders in accordance with the provisions of
these articles of association.
 Article 26.
 26.1.
    
    Extraordinary general meetings of shareholders shall be held as often as deemed necessary by
the supervisory board and shall be held if one or more shareholders and other persons entitled to
attend the meetings of shareholders jointly representing at least one-tenth of the issued share
capital make a written request to that effect to the managing board or supervisory board,
specifying in detail the business to be dealt with.26.2.
    
    If the managing board or supervisory board fail to comply with a request under paragraph 1
above in such manner that the general meeting of shareholders can be held within six weeks after
the request, the persons making the request may be authorized by the President of the Court within
whose jurisdiction the company is established to convene the meeting themselves.26.3.
    
    Written requests as referred to in paragraph 1 of this article, section 110, subsection 1,
Book 2, Dutch Civil Code and article 28 paragraphs 2 and 3 may not be submitted electronically.
Requests as referred to in paragraph 1 of this article, article 28
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paragraphs 2 and 3 and section 110, subsection 1, Book 2, Dutch Civil Code shall comply
with conditions stipulated by the managing board, subject to the approval of the
supervisory board, which conditions shall be posted on the companys website.
 Article 27.
 27.1.
    
    General meetings of shareholders shall be held in Amsterdam, Haarlemmermeer (Schiphol
Airport), Rotterdam or The Hague; the notice convening the meeting shall inform the shareholders
and other persons entitled to attend the meetings of shareholders accordingly.27.2.
    
    Notice of general meetings of shareholders shall be given by the managing board or by the
supervisory board or by those who according to the law or these articles of association are
entitled thereto. The notice shall be given in such manner as shall be authorized or required by
law (including but not limited to a written notice, a legible and reproducible message sent by
electronic means and an announcement published by electronic means), as well as in accordance with
the regulations of a stock exchange where the shares in the companys share capital are officially
listed at the companys request. In addition, shareholders and other persons entitled to attend the
meetings of shareholders which are registered in the share register of the company shall be
notified by letter that the meeting is being convened.
 Article 28.
 28.1.
    
    The notice convening the meeting referred to in the foregoing shall be given with due
observance of the statutory notice period.28.2.
    
    The agenda shall contain such business as may be placed thereon by the person(s) entitled to
convene the meeting, and furthermore such business as one or more shareholders, representing at
least one-tenth of the issued share capital, have requested the managing board or supervisory board
to place on the agenda at least five days before the date on which the meeting is convened.
Nominations for appointment to the managing board and the supervisory board cannot be placed on the
agenda by the managing board. No resolution shall be passed at the meeting in respect of matters
not on the agenda.28.3.
    
    Notwithstanding paragraph 2, proposals of persons who are entitled to attend the meetings of
shareholders will be included in the agenda, if such proposal is made in writing to the managing
board within a period of sixty days before that meeting by persons who are entitled to attend the
meetings of shareholders, who solely or jointly, represent at least one per cent (1%) of the
companys issued share capital or a market value of at least fifty million euro (EUR 50,000,000),
unless the company determines that such proposal would conflict with substantial interests of the
company.28.4.
    
    The notice shall state the business to be transacted as well as the other information
prescribed by law and these articles of association.
 Article 29.
 29.1.
    
    General meetings of shareholders shall be presided over by the chairman of the supervisory
board or in his absence by the vice-chairman of the supervisory board. In case of absence of the
chairman and the vice-chairman of the supervisory board the meeting shall be presided by any other
person nominated by the supervisory board.
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29.2.
    
    Minutes shall be kept of the business transacted at a general meeting of shareholders, which
minutes shall be drawn up and signed by the chairman and by a person appointed by him immediately
after the opening of the meeting.29.3.
    
    Where the minutes are drawn up before a civil-law notary, the chairmans signature, together
with that of the civil-law notary, shall be sufficient.
 Article 30.
 30.1.
    
    All shareholders and other persons entitled to attend the meetings of shareholders are
entitled to attend the general meetings of shareholders, to address the general meeting of
shareholders and, if applicable, to vote. Subject to the approval of the supervisory board, the
managing board may resolve that holders of shares and other persons entitled to attend the meetings
of shareholders are authorized to directly take note of the business transacted at the meeting via
an electronic means of communication.The general meeting of shareholders may lay down rules regulating, inter alia, the length
of time for which shareholders may speak. In so far as such rules are not applicable, the
chairman may regulate the time for which shareholders may speak if he considers this to be
desirable with a view to the orderly conduct of the meeting.30.2.
    
    Only if the law does not prescribe a fixed record date, the managing board shall, with due
observance of the relevant statutory provisions, determine a record date for the general meeting of
shareholders. Persons entitled to attend the meetings of shareholders are those who at the record
date have these rights and have been registered as such in a register designated by the managing
board for that purpose, regardless of who would have been entitled to attend the general meeting of
shareholders if a record date as contemplated in this paragraph had not been determined. The
convocation notice for the meeting shall state the record date and the manner in which the persons
entitled to attend the meetings of shareholders may register and exercise their rights.30.3.
    
    The managing board may, subject to the approval of the supervisory board, decide that persons
entitled to attend the meetings of shareholders and vote thereat may, within a period prior to the
general meeting of shareholders to be set by the managing board, which period cannot start prior to
the record date as meant in the previous paragraph, cast their votes electronically in a manner to
be decided by the managing board and/or by post. Votes cast in accordance with the previous
sentence equal votes cast at the meeting.
 Article 31.
 31.1.
    
    Shareholders and other persons entitled to attend the meetings of shareholders may be
represented by proxies with written authority. If the meeting rights are exercised in accordance
with article 30, paragraph 2, by a person authorized in writing, the proxy with written authority
must be received by the person designated by the corporate body convening the general meeting of
shareholders no later than at the date as mentioned in the notice convening the meeting.31.2.
    
    All matters regarding the admittance to the general meeting of shareholders, the exercise of
voting rights and the result of votings, as well as any other matters regarding the affairs at the
general meeting of shareholders shall be decided upon by the chairman of that meeting, with due
observance of the provisions of section 13,
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Book 2, Dutch Civil Code.
 Article 32.
 32.1.
    
    Unless otherwise stated in these articles, resolutions shall be adopted by simple majority of
votes of the shareholders having the right to vote in a meeting of shareholders where at least
fifteen per cent of the issued capital is present or represented. Blank and invalid votes shall not
be counted. The chairman shall decide on the method of voting and on the possibility of voting by
acclamation.32.2.
    
    Where the voting concerns appointments, further polls shall, if necessary, be taken until one
of the nominees has obtained a simple majority, such with due observance of the provision of
paragraph 1 of this article. The further poll or polls may, at the chairmans discretion, be taken
at a subsequent meeting.32.3.
    
    Except as provided in paragraph 2, in case of an equality of the votes cast the relevant
proposal shall be deemed to have been rejected.
 Article 33.
 33.1.
    
    At the general meeting of shareholders each share shall confer the right to cast one vote.33.2.
    
    The managing board may, subject to the approval of the supervisory board, resolve that each
person entitled to attend and vote at the meetings of shareholders is authorized to vote via an
electronic means of communication, either in person or by a person authorized in writing, provided
that such person can be identified via the electronic means of communication and furthermore
provided that such person can directly take note of the business transacted at the meeting. The
managing board may, subject to the approval of the supervisory board, attach conditions to the use
of the electronic means of communication, which conditions shall be announced in the notice
convening the general meeting of shareholders and shall posted on the companys website.
 Meetings of holders of shares of a particular class.  Article 34.
 34.1.
    
    A meeting of holders of preference shares shall be held whenever required by virtue of the
provisions of these articles of association and further whenever the managing board and/or the
supervisory board shall decide, and also whenever one or more holders of preference shares so
request the managing board and/or the supervisory board in writing, stating the items of business
to be transacted.If after receipt of a request as referred to in the preceding sentence neither the
managing board nor the supervisory board has called a meeting in such a way that the
meeting is held within four weeks of receipt, the applicant(s) shall be authorized to call
the meeting themselves, with due observance of the relevant provisions of these articles
of association.34.2.
    
    The managing directors and the supervisory directors shall have the right to attend meetings
of holders of preference shares; in that capacity they shall have an advisory vote. Notice of a
meeting of holders of preference shares shall be given by letters sent to all holders of preference
shares. The notice shall state the items of business to be transacted.34.3.
    
    Articles 27 up to and including 33 shall apply accordingly to meetings of holders of
preference shares, with the proviso that the notice convening such a meeting shall only
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take place by letter or - if the relevant person entitled to attend such meeting so agrees
-via a legible and reproducible message sent by electronic mail to the address notified
for this purpose to the company by the relevant person entitled to attend such meetings.34.4.
    
    At a meeting of holders of preference shares at which the entire issued capital in shares of
that class is represented, valid resolutions may be adopted, provided that they are passed by
unanimous vote, even if the requirements in respect of the place of the meeting, the manner of
notice, the term of notice and the stating in the notice of the items of business to be transacted,
have not been observed.34.5.
    
    All resolutions which may be adopted by the holders of preference shares at a meeting may
also be adopted outside a meeting.Resolutions may be adopted outside a meeting only if all holders of preference shares and
other persons entitled to vote on preference shares have declared themselves in favor of
the proposal by letter or telecopier.The resolution shall be recorded in the minute book of the meeting of holders of
preference shares by a managing director.34.6.
    
    The managing board may, subject to the approval of the supervisory board, resolve that
written resolutions as referred to in the preceding paragraph of this article may be adopted via an
electronic means of communication. The managing board may, subject to the approval of the
supervisory board, attach conditions to the use of the electronic means of communication, which
conditions shall be notified in writing to all holders of preference shares and other persons
entitled to vote on preference shares.34.7.
    
    A meeting of holders of ordinary shares shall be held whenever required by virtue of the
provisions of these articles of association. Articles 27 up to and including 33 shall apply
accordingly to meetings of holders of ordinary shares.
 Annual accounts, annual report and distributions.  Article 35.
 35.1.
    
    The financial year shall run from the first day of January up to and including the
thirty-first day of December.35.2.
    
    Annually, within four months after the close of each financial year, the managing board shall
draw up the annual accounts. Within this period the managing board shall also draw up the annual
report.
 Article 36.
 36.1.
    
    The supervisory board shall cause the annual accounts to be examined by one or more
registered accountant(s) designated for the purposes by the general meeting of shareholders or
other experts designated for the purpose in accordance with section 393, Book 2, Dutch Civil Code,
and shall report to the general meeting of shareholders on the annual accounts, notwithstanding the
provisions of the law. The accountant, as referred to in this paragraph, is authorized to attend
the general meeting of shareholders in which a resolution about the adoption of the annual accounts
shall be adopted and to address that meeting.36.2.
    
    Annually, no later than four months after the close of the financial year the managing board,
in accordance with the statutory obligations to which the company is subject, shall make generally
available: (i) the annual accounts, (ii) the annual report, (iii) the accountants statement as
referred to in paragraph 1 of this article, as well as (iv) other
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information which, under or pursuant to the law, must be made generally available together
with the annual accounts.
 Profit and loss.  Article 37.
 37.1.
    
    Distribution of profits pursuant to this article shall be made following approval of the
annual accounts which show that the distribution is permitted.The company may only make distributions to shareholders and other persons entitled to
distributable profits to the extent that its equity exceeds the total amount of its issued
capital and the reserves which must be maintained by law.A deficit may only be offset against the reserves prescribed by law in so far as permitted
by law.
 37.2.
    a.
    
    From the profits shall first, if possible, be distributed on the preference shares the
percentage as specified hereinafter under b below of the compulsory amount paid up or to be paid up
on these shares as at the commencement of the financial year for which the distribution is made or
- if the shares are issued during that financial year - as at the day on which such shares are
issued.b.
    
    The percentage as referred to above under a shall be equal to Euribor (Euro Interbank
Offered Rate) for deposit loans with a term of one year, established per the day which is
two bank business days prior to the day of the first issue of the preference shares, such
at eleven oclock ante meridiem Central European Time, increased with a rise of maximum
one hundred and fifty basis points, determined by the managing board, subject to the
approval of the supervisory board.If in the course of the financial year for which the distribution is made the
compulsory amount to be paid on the preference shares has been decreased or, pursuant to a
resolution for additional payments, increased, then the distribution shall be decreased
or, if possible, increased by an amount equal to the aforementioned percentage of the
amount of the decrease or increase as the case may be, calculated from the date of the
decrease or from the day when the additional payment became compulsory, as the case may
be.c.
    
    If and to the extent that the profits are not sufficient to make the distribution as
referred to in this article in full, the deficit shall be distributed from the reserves to
the extent by doing so paragraph 1 of this article is not contravened.If and to the extent the distribution as referred to in the first sentence of this
paragraph also cannot be made out of the reserves, then out of the profits realized in the
following years first such a distribution shall be made to the holders of preference
shares to make good for the entire deficit before the provisions of the following
paragraphs shall apply.d.
    
    No further distributions shall be made on the preference shares then as determined in
this article and article 39.e.
    
    If the profits for a financial year are being determined and if in that financial year
one or more preference shares have been cancelled with repayment, the persons who
according to the shareholders register as referred to in article 8 at the time of such
cancellation were recorded as the holders of these preference shares, shall have an
inalienable right to a distribution of profit as described hereinafter. The
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profits which, if sufficient, shall be distributed to such a person shall be equal to the
amount of the distribution to which he would be entitled pursuant to the provisions of
this paragraph if at the time of the determination of the profits he had still been the
holder of the preference shares as referred to above, calculated on a time-proportionate
basis for the period during which he held preference shares in that financial year, which
distribution shall be decreased with the amount of the distribution which is made on the
preference shares in accordance with article 39 paragraph 1.f.
    
    If in the course of any financial year preference shares have been issued, the dividend
on preference shares for that financial year shall be decreased time-proportionately
calculated over the period that the relevant preference shares were not issued.
 37.3.
    
    Upon proposal of the managing board, the supervisory board shall determine what portion of
the remaining profits shall be retained by way of reserve.37.4.
    
    The portion of the profits that remains after application of paragraph 2 and paragraph 3,
shall be at the disposal of the general meeting of shareholders, with due observance of the
provisions of article 38, paragraph 2.37.5.
    
    The general meeting of shareholders is empowered either to distribute the profits in cash or
in kind or to withhold distribution of the said portion of the profit in whole or in part.
 Article 38.
 38.1.
    
    Upon the proposal of the supervisory board, the general meeting of shareholders shall be
entitled to resolve to make distributions charged to the share premium reserve or charged to the
other reserves shown in the annual accounts not prescribed by the law, with due observance of the
provisions of paragraph 2 of this article, provided that the balance of the relevant reserve is not
required to make the distribution as referred to in article 37, paragraph 2, sub c, first sentence
in conjunction with article 37, paragraph 2, sub a.38.2.
    
    The supervisory board shall be entitled to resolve that distributions, the amount of which
distributions has been resolved upon by the general meeting of shareholders, to holders of shares
under article 37, article 38, paragraph 1 and article 39, paragraph 1 may be made in full or
partially in the form of the issue of shares in the share capital of the company. The distribution
to a shareholder according to the preceding sentence shall be made to a shareholder in cash or in
the form of ordinary shares in the share capital of the company, or partially in cash and partially
in the form of shares in the share capital of the company, such, if the supervisory board so
resolves, at the option of the relevant shareholder.
 Article 39.
 39.1.
    
    At its own discretion and subject to section 105, paragraph 4, Book 2, Dutch Civil
Code, the supervisory board may resolve to distribute one or more interim distributions on
the shares before the annual accounts for any financial year have been adopted at a
general meeting of shareholders.Interim distributions may also be made on either preference shares or ordinary shares.39.2.
    
    In case of a cancellation of preference shares with repayment a distribution on the
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cancelled shares shall be made on the day of repayment, which distribution shall be
calculated in accordance with the provisions of article 37 and over the period up to the
day of repayment, such in accordance with section 105, paragraph 4, Book 2, Dutch Civil
Code.
 Article 40.
 40.1.
    
    Distributions under articles 37, 38 or 39 shall be payable as from a date to be determined by
the supervisory board. The date of payment set in respect of shares for which certificates are
outstanding or in respect of type I shares may differ from the date of payment set in respect of
shares for which type II share certificates are outstanding.40.2.
    
    Distributions under articles 37, 38 or 39 shall be made payable at a place or places, to be
determined by the supervisory board; at least one place shall be designated thereto in the
Netherlands.40.3.
    
    The supervisory board may determine the method of payment in respect of cash distributions on
type I shares.40.4.
    
    Cash distributions under articles 37, 38 or 39 in respect of shares for which a type II share
certificate is outstanding shall, if such distributions are made payable only outside the
Netherlands, be paid in the currency of a country where the shares of the company are listed on a
stock exchange not being the Euro, converted at the rate of exchange determined by the European
Central Bank at the close of business on a day to be fixed for that purpose by the supervisory
board. If and in so far as on the first day on which a distribution is payable, the company is
unable, in consequence of any governmental action or other exceptional circumstances beyond its
control, to make payment at the place designated outside the Netherlands or in the relevant
currency, the supervisory board may in that event designate one or more places in the Netherlands
instead. In such event the provisions of the first sentence of this paragraph shall no longer
apply.40.5.
    
    The person entitled to a distribution under articles 37, 38 or 39 on registered shares shall
be the person in whose name the share is registered at the date to be fixed for that purpose by the
supervisory board in respect of each distribution for the different types of shares.40.6.
    
    The provisions of article 27 paragraph 2 shall apply accordingly to the notice of
distributions and of the dates and places as referred to in the preceding paragraphs of this
article.40.7.
    
    Distributions in cash under articles 37, 38 or 39 that have not been collected within five
years after they have become due and payable shall revert to the Company.40.8.
    
    In the case of a distribution under article 38, paragraph 2, any shares in the company not
claimed within a period to be determined by the supervisory board shall be sold for the account of
the persons entitled to the distribution who failed to claim the shares.The period and manner of sale to be determined by the supervisory board, as mentioned in
the preceding sentence, shall be notified according to paragraph 6. The net proceeds of
such sale shall thereafter be held at the disposal of the above persons in proportion to
their entitlement; distributions that have not been collected within five years after the
initial distributions in shares have become due and payable shall revert
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to the company.40.9.
    
    In the case of a distribution in the form of shares in the company under article 38,
paragraph 2, on registered shares, those shares shall be added to the share register. A type II
share certificate for a nominal amount equal to the number of shares added to the register shall be
issued to holders of type II shares.40.10.
    
    The provisions of paragraphs 5 and 6 shall apply equally in respect of distributions
-including pre-emptive subscription rights in the event of a share issue - made otherwise than
under articles 37, 38 or 39.
 Amendments to the articles of association, winding up, liquidation.  Article 41.
 41.1.
    
    A resolution to alter the articles of association or to wind up the company shall be valid
only provided that:
 a.
    
    the proposal to such a resolution has been proposed to the general meeting of shareholders
by the supervisory board;b.
    
    the full proposals have been deposited for inspection by shareholders and other persons
entitled to attend meetings of shareholders, at the office of the company as from the day on
which the notice is served until the close of that meeting.
 41.2.
    
    A resolution to amend the articles of association by which the rights conferred on holders of
shares of a specific class as such are changed shall require the approval of the relevant class
meeting.
 Article 42.
 42.1.
    
    If the company is wound up, the liquidation shall be carried out by any person designated for
that purpose by the general meeting of shareholders, under the supervision of the supervisory
board.42.2.
    
    In passing a resolution to wind up the company, the general meeting of shareholders shall
upon the proposal of the supervisory board fix the remuneration payable to the liquidators and to
those responsible for supervising the liquidation.42.3.
    
    The liquidation shall take place with due observance of the provisions of the law. During the
liquidation period these articles of association shall, to the extent possible, remain in full
force and effect.42.4.
    
    After settling the liquidation, the liquidators shall render account in accordance with the
provisions of the law.42.5.
    
    After the liquidation has ended, the books and records of the company shall remain in the
custody of the person designated for that purpose by the liquidators during a seven-year period.
 Article 43.
 pro rata
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Article 44.
 consignatiekas
     23