Document:

EX-4.4

Exhibit 4.4

Terms and Conditions of the

ASML Performance Stock Option Plan

For Senior and Executive Management

(version 1)

 

 

ASML Performance Stock Option Plan for Senior and Executive Management

Contents

	 	 	 	 	 	 	 
	Related documents	 	 	2	 
	 
	 	 	 	 	 	 
	Article 1
	 	Definitions	 	 	3	 
	 
	 	 	 	 	 	 
	Article 2
	 	Interpretation	 	 	5	 
	 
	 	 	 	 	 	 
	Article 3
	 	Scope and Object	 	 	6	 
	 
	 	 	 	 	 	 
	Article 4
	 	Grant of Options	 	 	6	 
	 
	 	 	 	 	 	 
	Article 5
	 	Option Period	 	 	7	 
	 
	 	 	 	 	 	 
	Article 6
	 	Exercise Price	 	 	7	 
	 
	 	 	 	 	 	 
	Article 7
	 	Non-transferability of the Option	 	 	7	 
	 
	 	 	 	 	 	 
	Article 8
	 	Exercise of Options	 	 	7	 
	 
	 	 	 	 	 	 
	Article 9
	 	Conditions	 	 	8	 
	 
	 	 	 	 	 	 
	Article 10
	 	Termination of employment	 	 	9	 
	 
	 	 	 	 	 	 
	Article 11
	 	Variation of capital	 	 	10	 
	 
	 	 	 	 	 	 
	Article 12
	 	Tax, social security and costs	 	 	10	 
	 
	 	 	 	 	 	 
	Article 13
	 	Prevention of Insider Trading	 	 	11	 
	 
	 	 	 	 	 	 
	Article 14
	 	Notices	 	 	11	 
	 
	 	 	 	 	 	 
	Article 15
	 	Governing Law and Disputes	 	 	12	 
	 
	 	 	 	 	 	 
	Article 16
	 	Amendments	 	 	12	 

Related documents

In these terms and conditions reference is being made to the ASML Insider Trading Rules 2005, as
amended from time to time (the ‘ASML Insider Trading Rules’). This document can be consulted on the
ASML Intranet. In case of the absence of access to the ASML Intranet, the Employee will be provided
with a hard copy of this document.

			
	 	 	 
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ASML Performance Stock Option Plan for Senior and Executive Management

Article 1 Definitions

In the terms and conditions of this Plan and in the related documents, the following terms and
expressions shall have the meanings as set out and below, unless explicitly stated otherwise:

	 	 	 
	Adoption Date

	 	the date on which this Plan is adopted by the Board of Management;
	 
	 	 
	Articles of Association

	 	the articles of association of the Company
as amended from time to time;
	 
	 	 
	Board of Management

	 	the board of directors of the Company as
mentioned in Article 13 of the Articles of
Association;
	 
	 	 
	Choice Form

	 	the form used by Employee on which he
indicates whether he wishes to participate
in the Performance Stock Option Plan for
Senior and Executive Management and/or
Performance Share Plan for Senior and
Executive Management, which form is
submitted to the Company duly signed before
the Date of Award.
	 
	 	 
	Company

	 	ASML Holding N.V., having its registered
seat at De Run 6501, 5504 DR Veldhoven, The
Netherlands, registered with the Chamber of
Commerce (Kamer van Koophandel) of
Oost-Brabant under registration number
17085815;
	 
	 	 
	Confirmation Letter of Vesting

	 	the notification in respect of the number
of Options that becomes exercisable per the
Vesting Date, at the end of the Embargo
Period;
	 
	 	 
	Date of Grant

	 	the date on which an Option is granted to a
Participant, which shall be the date
specified in the Option Agreement;
	 
	 	 
	Embargo Period

	 	the period following the Date of Grant as
specified in the Option Agreement, in which
an Option cannot be exercised;
	 
	 	 
	Employee

	 	a natural person who is employed by the
Company in job grades 92 through 95 on the
Date of Grant and who is on her or a Group
Company’s payroll on that date;
	 
	 	 
	Employer

	 	the Company or Group Company which employs
Employee on the Date of Grant;

			
	 	 	 
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ASML Performance Stock Option Plan for Senior and Executive Management

	 	 	 
	Exercise Period

	 	the period following the Embargo Period in which an
Option can be exercised in accordance with Article 8;
	 
	 	 
	Exercise Price

	 	the price at which the Participant may acquire one Share
upon the exercise of one Option, which is determined in
accordance with Article 6;
	 
	 	 
	Expiration Date

	 	the last day of the Option Period, being the last day on
which the Option can be exercised as specified in the
Option Agreement;
	 
	 	 
	General Meeting

	 	the general meeting of shareholders as mentioned in
Article 27 of the Articles of Association;
	 
	 	 
	Group Company

	 	an affiliated company of the Company, which affiliation
is determined by section 24c of Book 2 of the Dutch Civil
Code, irrespective of the jurisdiction of such company
and irrespective of the place where it has its registered
office;
	 
	 	 
	Option

	 	a right granted by the Company to the Participant to
acquire one Share during the Exercise Period for payment
of the Exercise Price. Options granted to United States
residents or citizens will give such Participants the
right to acquire Shares quoted on the NASDAQ Global
Select Market, while Options granted to all other
Participants will give the right to acquire Shares quoted
on the NYSE Euronext;
	 
	 	 
	Option Agreement

	 	the signed written agreement, including all annexes
thereto, if any, between the Participant and the Company,
setting forth the terms and conditions of the Options in
accordance with Article 4;
	 
	 	 
	Option Period

	 	the period in which the Option remains valid beginning at
the Date of Grant and ending per the Expiration Date as
specified in the Option Agreement in accordance with
Article 5.1;
	 
	 	 
	Option Rules

	 	the ASML Stock Option Plan (version 2) including any
modifications subsequently introduced therein, on which
this Plan is based;
	 
	 	 
	Participant

	 	an Employee of the Company or of any Group Company to
whom an Option has been granted under the terms and
conditions of this Plan or the heirs of such Employee;

			
	 	 	 
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ASML Performance Stock Option Plan for Senior and Executive Management

	 	 	 
	Performance Conditions

	 	the performance conditions attached to the
grant of an Option as set out in the annex
to the Option Agreement;
	 
	 	 
	Performance Period

	 	the period, as stipulated in the Option
Agreement, comprising one (1) calendar
year, being the calendar year following
the year in which the Date of Grant falls,
over which period the fulfilment of the
Performance Condition is measured in
accordance with Article 9;
	 
	 	 
	Plan

	 	the terms and conditions of the ASML
Performance Stock Option Plan for Senior
and Executive Management including the
Option Agreement and the Confirmation
Letter of Vesting in its present form or
as amended from time to time in accordance
with the provisions hereof;
	 
	 	 
	Scheme Audit

	 	objective determination of the fulfilment
of any conditions under this Plan, by the
Company’s auditor or an expert acting
independently as appointed by the Board of
Management;
	 
	 	 
	Share

	 	an ordinary share in the capital of the
Company, having a nominal value of EUR
0.09 (nine eurocents) or any other nominal
value such Share may have in the future;
	 
	 	 
	Stock Exchange

	 	the stock exchange of NYSE Euronext at
Amsterdam, The Netherlands, or the NASDAQ
Global Select Market, New York City, New
York, United States of America;
	 
	 	 
	Supervisory Board

	 	the board of supervisory directors of the
Company as mentioned in Article 20 of the
Articles of Association;
	 
	 	 
	Termination for Cause

	 	shall have the meaning as stated in
section 7:677 in conjunction with section
7:678 of the Dutch Civil Code at that time
or have the meaning as defined in any
other jurisdiction to which a Participant
may be subject;
	 
	 	 
	Vesting

	 	Options become exercisable, and
	 
	 	 
	Vesting Date

	 	the date upon which the Options underlying
the grant become exercisable.

Article 2 Interpretation

Words or expressions used in the Plan shall where appropriate:

	(i)	 	when denoting the masculine gender include the feminine and vice versa;
	 
	(ii)	 	when denoting the singular include the plural and vice versa;

			
	 	 	 
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ASML Performance Stock Option Plan for Senior and Executive Management

	(iii)	 	when referring to any enactment be construed as a reference to that enactment as for the
time being consolidated, amended, re-enacted or replaced and shall include any regulations
made there under;
	 
	(iv)	 	when a period of time is specified and starts from a given day or the day of an act or event
or ends on a given day, be calculated inclusive of that day;
	 
	(v)	 	be construed such that the headings and sub-headings are for ease of reference only, and do
not affect the interpretation of any Article;
	 
	(vi)	 	when referring to any enactment or regulations under Dutch law, be construed at the
discretion of the Board of Management as a reference to other applicable laws or regulations
of any other country (or region of a country), unless mentioned otherwise; and
	 
	(vii)	 	references to tax and/or social security contributions and/or withholding taxes shall for
the avoidance of doubt include The Netherlands and any other jurisdiction to which a
Participant may be subject.

Article 3 Scope and Object

This Plan forms part of the Option Rules and contains the terms and conditions that are applicable
to the Participant pursuant to Article IV of the Option Rules.

Article 4 Grant of Options

	4.1	 	A grant of Options can be made quarterly two days after the date of publication of the
Company’s financial results, in accordance with a consistent policy regarding frequency,
timing and terms and conditions, and subject to the ASML Insider Trading Rules and applicable
mandatory provisions regarding insider trading, as amended from time to time.
	 
	4.2	 	Each grant shall be evidenced by an Option Agreement concluded between the Participant and
the Company, setting forth the terms and conditions pertaining to such grant. By signing the
Option Agreement or associated Choice Form the Participant acknowledges that he has read the
Plan and the ASML Insider Trading Rules and declares that he fully understands and will fully
comply with the provisions of the Plan and the ASML Insider Trading Rules.
	 
	4.3	 	An Option Agreement shall specify, inter alia, the number of Options granted, the Date of
Grant, the Option Period, the Embargo Period, the Exercise Period, the Exercise Price, the
Performance Condition, the Performance Period and all such other information as required by
the terms and conditions of this Plan.
	 
	4.4	 	If the Participant wishes to participate in the Plan, he is required to return a signed copy
of the Choice Form before the Date of Grant or the Option Agreement to the Company within one
(1) calendar month following the date on which the Option Agreement has been signed by the
Company as stated in the Option Agreement. Option Agreements or Choice Forms signed and
returned before the due date will be considered accepted by the Participant on the date the
Option Agreement has been signed by the Company.

			
	 	 	 
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ASML Performance Stock Option Plan for Senior and Executive Management

	4.5	 	Except for the payment provisions as set out in Article 13, no consideration shall be payable
by a Participant for the grant of an Option made for his benefit.

Article 5 Option Period

	5.1	 	The Option Period shall be a period of ten (10) years commencing on the Date of Grant as
specified in the Option Agreement.
	 
	5.2	 	Options may only be exercised within the Exercise Period following the expiry of the Embargo
Period as specified in the Option Agreement in accordance with the provisions of Article 8 of
this Plan.
	 
	5.3	 	Options that have not been exercised within the Exercise Period shall lapse on the day
following the Expiration Date and become null and void.
	 
	5.4	 	Notwithstanding the provisions of paragraphs 1 through 3 of this Article, the Option Period
may be extended under the circumstances as referred to in Article 9.5 by a maximum period of
12 (twelve) months.

Article 6 Exercise Price

The Exercise Price shall be equal to the closing price ‘cum dividend’ of a Share on the NYSE
Euronext Stock Exchange, Amsterdam, The Netherlands on the Date of Grant. For United States
residents or citizens, the EUR (euro) denominated Exercise Price will be converted into a USD
(United States dollar) Exercise Price by taking the Exercise Price defined in the first sentence of
this Article and applying the EUR—USD exchange rate fixing on the Date of Grant as published by
the European Central Bank at or around 14.00 hours C.E.T.

Article 7 Non-transferability of the Option

The Option granted is strictly personal and non-transferable. No Option shall be capable of being
sold, transferred or assigned by the Participant other than in a manner specified in the Plan and
the Option cannot be charged, pledged, encumbered or otherwise used for the purpose of creating
security title or interest of whatever nature.

Article 8 Exercise of Options

	8.1	 	Notwithstanding the provisions of Article 10, Options are exercisable at any time during the
Exercise Period, provided that the Participant is employed by the Company or any Group Company
on the last day of the Embargo Period.
	 
	8.2	 	Options may be exercised only in accordance with established ASML procedures existing at the
time of exercise.

			
	 	 	 
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ASML Performance Stock Option Plan for Senior and Executive Management

	8.3	 	When exercising Options the Participant must comply with the ASML Insider Trading Rules, as
in force at the time of exercise.
	 
	8.4	 	Options may be exercised by the Participant for the total number of underlying Shares or in
tranches of 100 or multiples thereof (with the exception of the last tranche), with the
provision that each exercise must take place within the Exercise Period, provided such
exercise is not in conflict with the provisions of Article 14.

Article 9 Conditions

	9.1	 	The Board of Management shall have the authority and complete discretion to impose any
Performance Conditions, being conditions and limitations in addition to any conditions and
limitations contained in this Plan which must be achieved during a certain period in order for
the Option to become exercisable, provided that such additional conditions and limitations
shall:

	 	(i)	 	be objective and are specified in the Option Agreement; and
	 
	 	(ii)	 	be such that the grant of the Option after the Scheme Audit and the
fulfilment or attainment of any conditions and limitations so specified shall not be
dependent upon the further discretion of any person, other than the determination by
the Board of Management that such conditions or limitations have been fulfilled based
on the Scheme Audit; and
	 
	 	(iii)	 	not be capable of amendment, variation or waiver unless a major change in
the organisation and/or the market and/or business circumstances occurs which causes
the Board of Management to consider that a waived, varied or amended condition would
be a fairer measure and would not be more difficult nor easier to satisfy than any
existing additional conditions.

	9.2	 	Notwithstanding the provisions of Article 10, the Options will become exercisable upon the
Vesting Date stated in the Option Agreement provided that:

	 	(i)	 	the Performance Conditions imposed on the grant in accordance with Article
9.1 have, based on the Scheme Audit, been fulfilled and attained at the end of the
Performance Period;
	 
	 	(ii)	 	the Embargo Period has ended; and
	 
	 	(iii)	 	the Participant is employed within the Group at the Vesting Date.

	9.3	 	Where necessary or desirable for the administration of the Plan, the Board of Management
shall establish operating guidelines regarding, inter alia, Performance Conditions and the
procedure for arranging, operating and completing the Scheme Audit. Participants are
deemed to comply with these operating guidelines where applicable.
	 
	9.4	 	Promotion, demotion or transfers within the Company or Group Company of a Participant at any
time during the Embargo Period shall not affect any Option nor shall it affect the fulfilment
of any Performance Conditions attached to any Option granted.

			
	 	 	 
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ASML Performance Stock Option Plan for Senior and Executive Management

Article 10 Termination of employment

	10.1	 	In case of termination of the employment relationship between Employee and Employer for
reasons other than those mentioned in Articles 10.3 to 10.5, without immediate re-employment
of Employee by Employer or another Group Company, all Options granted which are not exercised
at the time of termination of the employment relationship shall lapse forthwith, insofar as
Article 10.2 is not applicable. All Options that have thus become null and void will do so
without Participant being entitled to any compensation in this respect from Employer or
another Group Company.
	 
	10.2	 	In case of termination of the employment relationship between Employee and Employer as
described in Article 10.1, other than being voluntary termination by Employee, the following
“90 Day Period Rule” will apply.
	 
	 	 	The “90 Day Period Rule” determines that exercisable options may be exercised for a period
90 days from the Date of Notice. The “Date of Notice” for this Article being the date on
which the Formal Notice Period commences. In the absence of a Formal Notice Period
exercisable options may be exercised for 90 days from the Date of Termination. The “Date
of Termination” for this Article being the date on which the employment relationship
between Employee and Employer is terminated. Options that become exercisable after the
expiration of the Embargo Period during the 90 day period may be exercised until the end
of the 90 day period as stipulated in this paragraph.
	 
	10.3	 	If, during the Option Period, Employee is terminated for Cause by Employer, regardless of
whether employment activities have been terminated, any Options not yet exercised on the Date
of Notice, or in the absence of a Date of Notice the Date of Termination, shall lapse
immediately and become null and void. All Options that have thus become null and void will do
so without Participant being entitled to any compensation in this respect from Employer or
another Group Company. Article 10.2 is not applicable.
	 
	10.4	 	In case of termination of the employment relationship between Employee and Employer due to
Employee’s (i) death, or (ii) incapability to act, the Options may be exercised during the
entire Option Period as per the Date of Termination or as per the end of the Performance
Period, whichever is latest. In case the remaining Option Period, measured from the Date of
Termination for aforementioned reasons, consists of less than 12 (twelve) months, the Option
Period will be extended such that the remaining Option Period will be at least 12 (twelve)
months counting from the Date of Termination. Therefore, if the Date of Termination for
reasons mentioned in the first sentence of this Article, falls within 12 (twelve) months
before the end of the Option Period as defined in Article 5.1, the Option Period will
effectively be prolonged beyond the period as defined in Article 5.1. Article 10.2 is not
applicable.

			
	 	 	 
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ASML Performance Stock Option Plan for Senior and Executive Management

	10.5	 	In case of termination of the employment relationship between Employee and Employer due to
Employee’s (iii) retirement or (iv) occupational disability (within the meaning of the Dutch
“Work and Income according to Capacity to Work” Act [Wet Werk en Inkomen naar
Arbeidsvermogen]), the Options may be exercised during the entire Option Period, after the
Embargo Period has expired.
	 
	 	 	Retirement for this Plan is defined as (a) leaving the employment of Employer at the age
of 55 (fifty five) years or later in case Employee is eligible to (early) retirement
payments paid by a State, Federal or private pension fund, or (b) leaving the employment
of Employer under the “Rule of 65” without being eligible to (early) retirement payments
paid by a State, Federal or private pension fund.
	 
	 	 	The “Rule of 65” determines that Employee is deemed to retire for these Option Conditions
in case Employee leaves the employment of Employer at the age of 55 (fifty five) years
after 10 (ten) years of continued employment with ASML, Group Company or her legal
predecessors. For every additional year in excess of 55 (fifty five) years of age,
Employee is required to have one year less of continued employment, until the age of 65
(sixty five) years. Employee is deemed to retire for these Option Conditions in case
Employee leaves the employment of Employer at the age of 65 (sixty five) years with one or
less years of continued employment with ASML, Group Company or her legal predecessors.
Article 10.2 is not applicable.

Article 11 Variation of capital

	11.1	 	Subject to Article 7, in the event of a share split, reverse share split, any capitalisation
issue (other than a capitalisation issue in substitution for, or as an alternative to, a cash
dividend), or rights issue or rights offer or any reduction, sub-division, consolidation or
other variation of the capital of the Company affecting the number of Options in issue
(including any change in the currency in which Options are denominated), the number of Options
subject to any grant may be adjusted by the Company without prejudice (including retrospective
adjustments where appropriate) in such manner as the Company considers to be in its opinion
fair and reasonable, however, in no event shall the Company be obliged to make such
adjustment.
	 
	11.2	 	Notice of any adjustment shall be given by the Company to those Participants affected by such
adjustment.

Article 12 Tax, social security and costs

	12.1	 	All applicable personal tax and employee social security contributions as a result of or in
respect of the implementation of the Plan shall be borne by the Participant.
	 
	12.2	 	It shall be the obligation of the Company to issue or to procure the grant of the Options
to the Participant and the Participant shall permit the Company or any Group Company to
withhold and account for an amount equal to any wage or income tax, employee’s social

			
	 	 	 
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ASML Performance Stock Option Plan for Senior and Executive Management

security contributions liability and any other liabilities for which the Company or a
Group Company as the case may be, has an obligation to withhold and account.

	12.3	 	Whenever Options are to be granted under the Plan, the Company or any Group Company may
require the Participant to remit to the Company or a Group Company or upon the request of the
Participant to deduct as a one-off payment from the net salary or the net annual bonus (if
any) of the Participant, an amount sufficient to satisfy all withholding tax requirements at
the time of the exercise, including, but not limited to, the withholding of wage tax, income
tax and employee social security contributions.
	 
	12.4	 	The Plan is based on the applicable tax and social security legislation and regulations
prevailing at the Adoption Date. If any tax and/or social security legislation or regulations
are amended after the Adoption Date and any tax or employee social security contributions
become payable, the costs and risks related thereto shall be borne by the Participant.
	 
	12.5	 	For the avoidance of doubt, the provisions of Articles 12.1 to 12.4 shall apply to a
Participant’s liabilities that may arise on the exercise in more than one jurisdiction.
	 
	12.6	 	The Participant shall be liable for all costs relating to the exercise of the Option
including but
not limited to costs charged by stock brokers in connection with the Shares acquired
following the exercise of the Options and subsequent sale of such Shares.
	 
	12.7	 	Costs relating to the issue of new and/or transfer of existing Shares following the exercise
of Options shall be for the account of the Company.

Article 13 Prevention of Insider Trading

The Participant who signs the Option Agreement shall at the same time be deemed to accept the
applicable ASML Insider Trading Rules and act accordingly.

Article 14 Notices

	14.1	 	Notices which must be given by the Company to the Participant pursuant to or in connection
with the Option Rules and/or the Plan shall be regarded as correctly addressed if sent to the
address of the Participant as recorded in the Human Resources and Organization Staff
Records Department of the Company or any other address as may appear to the Company
to be appropriate, or by e-mail message or in any other format agreed in advance between
the Participant and the person giving the notice on behalf of the Board of Management.
	 
	14.2	 	Any notice or other document required to be given to the Company or the Board of Management
shall be delivered in a format agreed in advance between the Participant and
the person receiving the notice. Notices sent by post, unless received earlier, shall be
deemed to have been given on the fifth day following the date of posting.

			
	 	 	 
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ASML Performance Stock Option Plan for Senior and Executive Management

Article 15 Governing Law and Disputes

	15.1	 	This Plan, including its formation, existence, construction, performance, validity and all
aspects whatsoever of the Plan, any term of the Plan and Grant made under it, shall be
governed by the law of The Netherlands, except where mandatory local law shall apply. The
Company and the Participants irrevocably submit, in respect of any suit, action or proceeding
related to the interpretation or enforcement of the Plan, to the exclusive jurisdiction of the
District Court of ‘s-Hertogenbosch, The Netherlands .
	 
	15.2	 	The decision of the Board of Management in any dispute or question relating to any Award
shall be final and conclusive subject to the terms and conditions of this Plan.

Article 16 Amendments

	16.1	 	The Board of Management shall have the power to amend the Option Rules and/or the Plan or add
further provisions to the same at any time.
	 
	16.2	 	The Participant shall be informed in writing of any amendments or measures as referred to
in this Article.

***

			
	 	 	 
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Exhibit 4.5

Terms and Conditions of the

ASML Performance Share Plan

for Senior and Executive Management

(version 1)

			
	 	 	 
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ASML Performance Share Plan for Senior and Executive Management

Contents

	 	 	 	 	 
	ARTICLE 1	DEFINITIONS
	 	3	 
	ARTICLE 2	INTERPRETATION
	 	5	 
	ARTICLE 3	LAPSE OF AWARDS
	 	6	 
	ARTICLE 4	AVAILABILITY OF SHARES
	 	6	 
	ARTICLE 5	POWERS
	 	6	 
	ARTICLE 6	NON-TRANSFERABILITY OF THE SHARES
	 	7	 
	ARTICLE 7	AWARDS
	 	7	 
	ARTICLE 8	CONDITIONS FOR RELEASE
	 	8	 
	ARTICLE 9	RELEASE OF AWARDS
	 	9	 
	ARTICLE 10	TERMINATION OF EMPLOYMENT
	 	9	 
	ARTICLE 11	SHAREHOLDER RIGHTS
	 	10	 
	ARTICLE 12	TAX, SOCIAL SECURITY AND COSTS
	 	11	 
	ARTICLE 13 	REPORTING OBLIGATIONS
	 	11	 
	ARTICLE 14 	VARIATION OF CAPITAL
	 	11	 
	ARTICLE 15 	PLAN AMENDMENTS, TERMINATION AND SPECIAL PROVISIONS
	 	12	 
	ARTICLE 16 	NOTIFICATION
	 	12	 
	ARTICLE 17 	DISPUTES
	 	13	 
	ARTICLE 18  	GOVERNING LAW
	 	13	 

Related document

In these terms and conditions reference is being made to the ASML Insider Trading Rules 2005, as
amended from time to time (the ‘ASML Insider Trading Rules’). This document can be consulted on the
ASML Intranet. In case of the absence of access to the ASML Intranet, the Employee will be provided
with a hard copy of this document.

			
	 	 	 
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ASML Performance Share Plan for Senior and Executive Management

Article 1 Definitions

In the terms and conditions of the Plan and in the related document, the following words and
expressions shall have the meanings set out below, unless explicitly stated otherwise:

	 	 	 
	Adoption Date

	 	the date on which this Plan is adopted by the Board of Management;
	 
	 	 
	Articles of
Association 

	 	the articles of association of the Company as amended from time to time;

	 
	 	 
	
 Award

	 	
the award of Performance Shares under the terms and conditions of the Plan and the
corresponding Award Agreement;
	 
	 	 
	Award Agreement

	 	the signed written agreement, including all annexes thereto, between the Participant
and the Company, setting forth the terms and conditions of the Award in accordance
with Article 7;
	 
	 	 
	Award Letter

	 	the notification of an Award in accordance with Article 7;
	 
	 	 
	Board of Management

	 	the board of directors of the Company as mentioned in
article 13 of the Articles of Association;
	 
	 	 
	Choice Form

	 	the form used by Employee on which he indicates whether he wishes to participate in
the Performance Stock Option Plan for Senior and Executive Management and/or
Performance Share Plan for Senior and Executive Management, which form is submitted
to and received by the Company duly signed before the Date of Award;
	 
	 	 
	Company

	 	ASML Holding N.V., having its registered seat at De Run 6501, 5504 DR Veldhoven, The
Netherlands, registered with the Chamber of Commerce (Kamer van Koophandel) of
Oost-Brabant under registration number 17085815;
	 
	 	 
	Confirmation Letter of Release

	 	the notification in respect of the number of Shares that is being released to the
Participant at the Release Date;
	 
	 	 
	Date of Award

	 	the date on which an Award is made to a Participant, which shall be the date
specified in the Award Agreement;
	 
	 	 
	Embargo Period

	 	the period following the Date of Award as specified in the Award Agreement, in which
an Award cannot be transferred;

			
	 	 	 
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	Employee

	 	a natural person who on the Date of Award is employed by the
Company in job grades 81 through 91 and who is on her or a Group
Company’s payroll on that date;
	 
	 	 
	Employer

	 	the Company or Group Company which employs Employee on the Date of Award;
	 
	 	 
	General Meeting

	 	the general meeting of shareholders of the Company as mentioned in article 27 of
the Articles of Association;
	 
	 	 
	Group

	 	the Company and its Group Companies, as may be amended from time to time;
	 
	 	 
	Group Company

	 	an affiliated company of the Company, in which the affiliation is determined
by section 24c of the Dutch Civil Code, irrespective of the jurisdiction of
such company and irrespective of the place where it has its registered office;
	 
	 	 
	Participant

	 	an Employee of the Company or of any Group Company to whom an Award has been
made under the terms and conditions of this Plan or the heirs of such
employee;
	 
	 	 
	Performance Conditions

	 	certain conditions or restrictions, the satisfaction or lapsing of which are
required in order for the Award to be Released on the applicable Release Date,
in accordance with the Plan and any Award Agreement;
	 
	 	 
	Performance Period

	 	the period, as stipulated in the Award Agreement, comprising one (1) calendar
year being the calendar year following the year in which the Date of Award
falls, over which period the fulfilment of the Performance Conditions is
measured in accordance with Article 8;
	 
	 	 
	Performance Share

	 	Restricted Share that grants a Participant the right to receive Shares at the
Release Date, where such right is conditional upon (i) the fulfilment of the
Performance Conditions or (ii) the fulfilment of the Performance Conditions
and other vesting requirements, and in either case, any other applicable terms
and conditions of the Plan and the applicable Award Agreement;
	 
	 	 
	Plan

	 	the terms and conditions of the ASML Performance Share Plan for Senior and
Executive Management including the Award Agreement and the Confirmation Letter
of Release in its present form or as from time to time amended in accordance
with the provisions hereof;

			
	 	 	 
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	Release (or Released)

	 	the transfer (‘levering’) of Shares to a Participant;
	 
	 	 
	Release Date

	 	the date upon which the Shares underlying an Award are Released and
transferred to the Participant;
	 
	 	 
	Scheme Audit

	 	objective determination of the fulfilment of any conditions attached to the
Award by the Company’s auditor or an independent expert appointed by the Board
of Management;
	 
	 	 
	Share

	 	an ordinary share in the capital of the Company, having a nominal value of EUR
0.09 (nine eurocents) or any other nominal value such Share may have in the
future;
	 
	 	 
	Stock Exchange

	 	the stock exchange of Euronext Amsterdam, The Netherlands, or the NASDAQ Stock
Market New York City, New York, United States of America;
	 
	 	 
	Supervisory Board

	 	the board of supervisory directors of the Company as mentioned in article
20 of the Articles of Association; and
	 
	 	 
	Termination for Cause

	 	shall have the meaning as stated in section 7:677 in conjunction with section
7:678 of the Dutch Civil Code at that time or have the meaning as defined in
any other jurisdiction to which a Participant may be subject.

Article 2 Interpretation

Words or expressions used in the Plan shall where appropriate:

	(i)	 	when denoting the masculine gender include the feminine and vice versa;

	 
	(ii)	 	when denoting the singular include the plural and vice versa;
	 
	(iii)	 	when referring to any enactment be construed as a reference to that enactment as for the
time being consolidated, amended, re-enacted or replaced and shall include any regulations
made there under;
	 
	(iv)	 	when a period of time is specified and starts from a given day or the day of an act or event,
be calculated inclusive of that day;
	 
	(v)	 	be construed such that the headings and sub-headings are for ease of reference only, and do
not affect the interpretation of any Article;
	 
	(vi)	 	when referring to any enactment or regulations under Dutch law be construed at the discretion
of the Board of Management as a reference to other applicable laws or regulations of any other
country (or region of a country), unless mentioned otherwise; and
	 
	(vii)	 	references to tax and/or social security contributions and/or withholding taxes shall for
the avoidance of doubt include The Netherlands and any other jurisdiction to which a
Participant may be subject.

			
	 	 	 
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Article 3 Lapse of Awards

Where under any of the provisions of the Plan or any Award Agreement it is provided that an Award
shall lapse, such lapsed Award shall cease to confer any rights whatsoever on the Participant
notwithstanding any other provisions of this Plan or any Award Agreement.

Article 4 Availability of Shares

The Company shall at all times keep available sufficient authorised and un-issued Shares or shall
ensure that sufficient Shares are available for transfer to satisfy Release to the full extent
possible of all Awards that have neither lapsed nor been fully Released taking account of any
other obligations of the Company to procure for the Release of Shares.

Article 5 Powers

	5.1	 	The Plan shall be adopted by the Board of Management. The Board of Management shall have such
powers and authority with respect to the execution of the Plan, as set out in the Plan.
	 
	5.2	 	The Board of Management shall have the authority and complete discretion to decide, on an
annual basis and in accordance with a consistent policy regarding frequency, timing and terms
and conditions, to effect Awards and decide the number of Shares to be used to give effect to
such Awards.
	 
	5.3	 	The Plan shall be administered by the Board of Management.
	 
	5.4	 	The Board of Management, shall have the authority and complete discretion to:

	 	(i)	 	select Employees to whom Awards may from time to time be granted hereunder;

	 
	 	(ii)	 	substitute new Awards for previously granted Awards;
	 
	 	(iii)	 	adopt, alter and repeal such administrative rules, guidelines and practices
governing the Plan as it shall, from time to time, deem advisable;
	 
	 	(iv)	 	determine, for each Award, the Performance Conditions and/or vesting
requirements, other terms and conditions or other restrictions, if any, that will apply
to such Award;
	 
	 	(v)	 	construe and interpret the provisions of the Plan, any Award, any Award
Agreement, any other agreement between Participant and the Company or any Group
Company, any Confirmation Letter of Release or other document executed pursuant to the
Plan or pursuant to any Award granted under the Plan;
	 
	 	(vi)	 	amend the terms of any Award granted before, prospectively or retroactively, to
the extent such amendment is consistent with the terms and conditions of the Plan,
including, but not limited to, accelerating the date on which restrictions lapse or to
deem any Performance Conditions or other restrictions satisfied; provided that no such
amendment or action shall impair the rights of any Participant without his consent,
except to the extent authorised under the Plan;
	 
	 	(vii)	 	determine and communicate, for each Award to which Performance Conditions,
time vesting or other restrictions apply, whether and to what extent the Performance

			
	 	 	 
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	 	 	 	Conditions, vesting conditions or other restrictions applicable to such Award have
been met, and, as a consequence, which number of Shares will be Released;
	 
	 	(viii)	 	authorise any person to execute on behalf of the Company, any instrument required to
effectuate an Award; and
	 
	 	(ix)	 	make all other determinations deemed necessary or desirable for the
administration of the Plan.

	5.5	 	Subject to this Article 5, the Board of Management’s interpretation and construction of any
provision of the Plan, any Award Agreement, any other agreement between Participant and the
Company or any Group Company, any Confirmation Letter of Release or any other instrument
executed under the Plan, shall be final and binding on all persons claiming an interest in an
Award granted under the Plan. To the extent permitted by applicable law, no member of the
Board of Management, nor any officer or employee of the Group acting on behalf of the Board of
Management, shall be personally liable for any action, determination, or interpretation taken
or made in good faith with respect to the Plan, and all members of the Board of Management and
each and any officer or employee of the Group acting on their behalf shall, to the extent
permitted by law, be fully indemnified and protected by the Company in respect of any such
action, determination or interpretation.

Article 6 Non-Transferability of the Shares

The Award granted is strictly personal and non-transferable. No Award shall, during the Embargo
Period, be capable of being sold, transferred or assigned by the Participant other than in a manner
specified in the Plan and/or Award Agreement, and the Award cannot be charged, pledged, encumbered
or otherwise used for the purpose of creating security title or interest of whatever nature.

Article 7 Awards

	7.1	 	An award of Shares can be made quarterly two days after the date of publication of the
Company’s financial results, in accordance with a consistent policy regarding frequency,
timing and terms and conditions, and subject to the ASML Insider Trading Rules and other
applicable mandatory provisions regarding insider trading, as amended from time to time.
	 
	7.2	 	Each Award shall be evidenced by an Award Agreement concluded between the Participant and the
Company, setting forth the terms and conditions pertaining to such Award. By signing the Award
Agreement or associated Choice Form, the Participant acknowledges that he has read the Plan
and the ASML Insider Trading Rules and declares that he fully understands and will fully
comply with the provisions of the Plan and the ASML Insider Trading Rules.
	 
	7.3	 	An Award Agreement shall specify the terms and conditions applicable to the Award, including,
without limitation, the Date of Award, the vesting schedule applicable to the Award, if any,
the Embargo Period, the Release Date and all such other information as required by the terms
and conditions of the Plan.
	 
	7.4	 	If a Participant wishes to participate in the Plan, he is required to return a signed copy of
the Choice Form before the Date of Award of the Award Agreement to the Company within one (1)
calendar month following the date on which the Award Agreement has been signed by the Company.
Award Agreements or Choice Forms signed and returned before this due date will

			
	 	 	 
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	 	 	be considered accepted by the Participant on the date the Award Agreement was signed by the
Company.
	 
	7.5	 	Each Participant to whom an Award has been made under the Plan shall not have any rights with
respect to such Award, unless and until such Participant has executed an Award Agreement
evidencing the Award and has delivered a fully executed copy thereof to the Company, and has
otherwise complied with the then applicable terms and conditions. Unless otherwise provided in
an Award Agreement, notwithstanding the foregoing, any Award shall not be considered
outstanding for any purpose, and no dividends, voting or other rights of a shareholder shall
attach to such Award until such time as the conditions and/ or limitations attached, if any,
have been satisfied or have lapsed and the Shares have been Released to the Participant.
	 
	7.6	 	Except as provided in the Plan or in an Award Agreement, no consideration shall be payable by
a Participant for an Award made to him.

Article 8 Conditions for Release

	8.1	 	The Board of Management shall have the authority and complete discretion to impose
Performance Conditions, being conditions and limitations in addition to any conditions and
limitations contained in this Plan which must be achieved for the Award to be Released,
provided that such additional conditions and limitations shall:

	 	(i)	 	be objective and are specified in the Award Agreement; and
	 
	 	(ii)	 	be such that the Release of such an Award after the Scheme Audit and the
fulfilment or attainment of any conditions and limitations so specified shall not be
dependent upon the further discretion of any person, other than the determination by
the Board of Management that such conditions or limitations have been fulfilled based
on the Scheme Audit; and
	 
	 	(iii)	 	not be capable of amendment, variation or waiver unless a major change in the
organisation and/or the market occurs which causes the Board of Management to consider
that a waived, varied or amended condition would be a fairer measure and would not be
more difficult nor easier to satisfy than any existing additional conditions.

	8.2	 	Notwithstanding the provisions of Article 10, the number of Shares will be Released upon the
Release Date stated in the Award Agreement provided that:

	 	(i)	 	any conditions imposed on the Award in accordance with Article 8.1 have, based
on the Scheme Audit, been fulfilled and attained;
	 
	 	(ii)	 	the Embargo Period has ended; and

	 
	 	(iii)	 	the Participant is employed within the Group at the Release Date.

	8.3	 	Where necessary or desirable for the administration of the Plan, the Board of Management
shall establish operating guidelines regarding, inter alia, the Performance Conditions and the
procedure for arranging, operating and completing the Scheme Audit.

			
	 	 	 
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	8.4	 	Promotion, demotion or transfers within the Company or Group Company of a Participant at any
time during the Embargo Period shall not affect the outstanding Awards and the conditions
attached to these Awards.

Article 9 Release of Awards

	9.1	 	Notwithstanding the provisions of Article 10 and subject to Articles 12.1 to 12.4, the
Company shall Release the Shares to the Participant as soon as practicable following the
Embargo Period. A Release of Shares shall only be made if the Participant has fulfilled all
its obligations towards the Company or any Group Company under this Plan. The Release of
Shares is confirmed to the Participant in the Confirmation Letter of Release.
	 
	9.2	 	The Release of Shares is subject to the ASML Insider Trading Rules and applicable mandatory
provisions regarding insider trading, as amended from time to time, as well as applicable
laws.
	 
	9.3	 	The Participant shall not be entitled to any payment or indemnification of damages insofar
such damages arise or may arise from a delayed Release under this Article.
	 
	9.4	 	In special circumstances, the Board of Management shall have the power to allow Awards to be
Released at a date prior to the Release Date as may be stipulated in the Award Agreement.

Article 10 Termination of Employment

	10.1	 	In case of termination of the employment relationship between Employee and Employer during
the Embargo Period for reasons other than those mentioned in Articles 10.3 to 10.5, without
immediate re-employment of Employee by Employer or another Group Company, all outstanding
Awards which have not been released at the time of termination of the employment relationship
shall immediately lapse and become null and void, insofar as Article 10.2 is not applicable.
All Awards that have thus become null and void will do so without Participant being entitled
to any compensation in this respect from Employer or another Group Company.
	 
	10.2	 	In case of termination of the employment relationship between Employee and Employer as
described in Article 10.1, other than being voluntary termination by Employee, the following
“90 Day Period Rule” will apply.
	 
	 	 	The “90 Day Period Rule” determines that the Award shall be released as per the Release
Date, as specified in the Award Agreement, if the Release Date lies within 90 days from the
Date of Notice. The “Date of Notice” for this Article being the date on which the Formal
Notice Period commences. In the absence of a Formal Notice Period, the Award shall be
released as per the Release Date, as specified in the Award Agreement, if the Release Date
lies within 90 days from the Date of Termination. The “Date of Termination” for this Article
being the date on which the employment relationship between Employee and Employer is
terminated.

			
	 	 	 
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	10.3	 	If, during the Embargo Period, Employee is terminated for Cause by Employer, all outstanding
Awards which have not been released at the Date of Notice, or in the absence of a Date of
Notice the Date of Termination, shall immediately lapse and become null and void. All Awards
that have thus become null and void will do so without Participant being entitled to any
compensation in this respect from Employer or another Group Company. Article 10.2 is not
applicable.
	 
	10.4	 	In case of termination of the employment relationship between Employee and Employer due to
Employee’s (i) death, or (ii) incapability to act, all outstanding Awards will be released as
per the Date of Termination or as per the end of the Performance Period, whichever is latest.
Article 10.2 is not applicable.
	 
	10.5	 	In case of termination of the employment relationship between Employee and Employer due to
Employee’s (iii) retirement or (iv) occupational disability (within the meaning of the Dutch
“Work and Income according to Capacity to Work” Act [Wet Werk en Inkomen naar
Arbeidsvermogen]), all outstanding Awards will be released as per the Release Date as
specified in the Award Agreement.
	 
	 	 	Retirement for these Plan is defined as (a) leaving the employment of Employer at the age of
55 (fifty five) years or later in case Employee is eligible to (early) retirement payments
paid by a State, Federal or private pension fund, or (b) leaving the employment of Employer
under the “Rule of 65” without being eligible to (early) retirement payments paid by a
State, Federal or private pension fund.
	 
	 	 	The “Rule of 65” determines that Employee is deemed to retire for these Plan in case
Employee leaves the employment of Employer at the age of 55 (fifty five) years after 10
(ten) years of continued employment with ASML, Group Company or her legal predecessors. For
every additional year in excess of 55 (fifty five) years of age, Employee is required to
have one year less of continued employment, until the age of 65 (sixty five) years. Employee
is deemed to retire for this Plan in case Employee leaves the employment of Employer at the
age of 65 (sixty five) years with one or less years of continued employment with ASML, Group
Company or her legal predecessors. Article 10.2 is not applicable.

Article 11 Shareholder Rights

	11.1	 	Shares granted under the Plan shall be subject to any necessary regulatory consents for the
time being in force and it shall be the responsibility of the Company and, where relevant of
the Participant, to comply with any requirements to be fulfilled in order to obtain or obviate
the necessity for any such consent. In addition, no Shares shall be Released prior to the
satisfaction of any and all applicable legal and regulatory requirements relating to such
release.
	 
	11.2	 	Unless otherwise provided in an Award Agreement, Shares subject to an Award granted under the
Plan will be granted without the benefit of any rights (including shareholder rights)
attaching thereto by reference to a record date preceding the Release Date. Except for such
rights attaching to Shares by reference to a record date prior to the date on which the Shares

			
	 	 	 
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	 	 	are allotted and issued, Released Shares shall be identical and rank pari passu in all
respects with the Shares in the same class then in issue.

Article 12 Tax, social security and costs

	12.1	 	All applicable personal taxes and employee social security contributions as a result of or in
respect of the implementation of the Plan shall be borne by the Participant.
	 
	12.2	 	It shall be the obligation of the Company to issue or to procure the Release of the Shares to
the Participant and the Participant shall permit the Company or any other Group Company to
withhold and account for an amount equal to any wage or income tax, employee’s social security
contributions liability and any other liabilities for which the Company or a group Company as
the case may be, has an obligation to withhold and account.
	 
	12.3	 	Whenever Awards are to be granted under the Plan, the Company or any Group Company may
require the Participant to remit to the Company or a Group Company or upon the request of
the Participant to deduct as a one-off payment from the net salary or the net annual bonus
(if any) of the Participant, an amount sufficient to satisfy all withholding tax
requirements at the time of Release, including, but not limited to, the withholding of wage
tax, income tax and employee social security contributions.
	 
	12.4	 	The Plan is based on the applicable tax and social security legislation and regulations
prevailing at the Adoption Date. If any tax and/or social security legislation or regulations
are amended after the Adoption Date and any tax or employee social security contributions
become payable, the costs and risks related thereto shall be borne by the Participant.
	 
	12.5	 	Except as described in this Article 12, any tax or similar liability arising out of the sale
or disposal of Shares by the Participant shall be the sole responsibility of the Participant.
	 
	12.6	 	The costs of introducing, adopting, operating and administering this Plan shall be borne by
the Company. Except for the Release of Shares, the costs associated with the sale and
retention of the Shares shall be borne by the Participant.
	 
	12.7	 	The Company shall, where appropriate, recharge the costs of operating the Plan to its
participating Group Companies if and to the extent Participants are employed by these Group
Companies.

Article 13 Reporting obligations

The Company shall not issue or procure the transfer of Shares to Participants, until such time as
the Company is satisfied that the Company or Group Company that employs the Participant and
the Participant are aware of, and will carry out, their reporting obligations in respect of
the transfer or issue of Shares where necessary.

Article 14 Variation of Capital

	14.1	 	Subject to Article 16, in the event of a share split, reverse share split, any capitalisation
issue (other than a capitalisation issue in substitution for, or as an alternative to, a cash
dividend), or

			
	 	 	 
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	 	 	rights issue or rights offer or any reduction, sub-division, consolidation or other
variation of the capital of the Company affecting the number of Shares in issue (including
any change in the currency in which Shares are denominated) the number of Shares subject to
any Award and reserve for distribution under the Plan shall be equitably adjusted by the
Company without prejudice (including retrospective adjustments where appropriate) in such
manner as the Company considers to be in its opinion fair and reasonable.
	 
	14.2	 	Notice of any adjustment shall be given by the Company to those Participants affected by such
adjustment.

Article 15 Plan Amendments, Termination and Special Provisions

	15.1	 	Subject to the Articles of Association, the Board of Management may from time to time at its
absolute discretion amend, alter, or terminate the Plan, for such reason as the Board of
Management, in its sole discretion, deems appropriate, including to facilitate the
administration of the Awards, to reflect changes in legislation or to obtain or maintain a
favourable tax, exchange control, legal, accounting or regulatory treatment for Participants,
the Company or any other Group Company.
	 
	15.2	 	The Board of Management shall obtain approval of the Supervisory Board and/ or the General
Meeting, if applicable, for any amendment that would require such approval in order to satisfy
the requirements of applicable law, Articles of Association or stock exchange rules.
	 
	15.3	 	The Board of Management may amend the terms of any Award theretofore granted, prospectively
or retroactively; however, subject to Articles 14 or 15 of the Plan, no such amendment shall
impair the rights of any Participant without his consent.

Article 16 Notification

	16.1	 	Written notice of any amendment made in accordance with the terms of this Plan shall be given
to those Participants affected by such amendment.
	 
	16.2	 	Any notice or other document required to be given to any Participant with respect to the
operation of the Plan shall be regarded as correctly addressed if sent to the address of the
Participant as recorded in the Staff Records Department of the Company or any other address as
may appear to the Company to be appropriate, or by e-mail message or in any other format
agreed in advance between the Participant and the person giving the notice on behalf of the
Board of Management. Any notice or other document required to be given by a Participant to the
Company, any other Group Company or the Board of Management shall be delivered in the format
required by the Company, any other Group Company or the Board of Management as communicated to
the Participant in advance. Notices sent by regular mail, unless received earlier, shall be
deemed to have been given on the fifth day following the date the notice is post-marked.
	 
	16.3	 	Participants shall be subject to and bound by the terms and conditions of applicable insider
trading rules as set forth in the ASML Insider Trading Rules and applicable mandatory
provisions, as amended from time to time, as well as any and all applicable laws. Such ASML

			
	 	 	 
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	 	 	Insider Trading Rules, mandatory provisions and applicable laws may restrict the rights of
the Participants under this Plan. Participants are expected to be familiar with the ASML
Insider Trading Rules, the insider trading rules and any other information, guidance and/or
regulations issued by the Company or any other Group Company or relevant governmental or
regulatory bodies, and neither the Company nor any other Group Company shall incur any
liability in the event the Participant fails to comply with such rules.

Article 17 Disputes

The decision of the Board of Management in any dispute or question relating to any Award shall be
final and conclusive subject to the terms and conditions of this Plan.

Article 18 Governing law

This Plan, including its formation, existence, construction, performance, validity and all aspects
whatsoever of the Plan, any term of the Plan and Award made under it, shall be governed by the
law of The Netherlands, except where mandatory local law shall apply. The Company and the
Participants irrevocably submit, in respect of any suit, action or proceeding related to the
interpretation or enforcement of the Plan, to the exclusive jurisdiction of the District Court
of ‘s-Hertogenbosch, The Netherlands.

*****

			
	 	 	 
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