Document:

Exhibit 10.62

Summary of Amendment to
Employment Arrangement between

Olivier Lefebvre and Euronext Brussels S.A./N.V.

 

Mr. Lefebvre’s services are governed by
a Convention (management agreement) published on June 3, 1995 for a term
of six years, effective January 1, 1996, and subsequently extended by the
mutual agreement of Mr. Lefebvre and Euronext Brussels S.A./N.V., on an
indefinite basis.

 

Since March 15, 2004, Mr. Lefebvre
and Euronext Brussels S.A./N.V. amended the Convention to eliminate
Mr. Lefebvre’s rights to the termination indemnity entitling him to up to
two years’ remuneration, as defined in Article 5, Clause D and
Clause E.Exhibit 10.63

 

CONTRACT

 

 

 

BETWEEN:

 

Euronext
Lisbon — Sociedade Gestora de Mercados Regulamentados, S.A.

 

“Euronext Lisbon”,

 

and

 

Dr.
MIGUEL ATHAYDE MARQUES “Individual”;

 

Both
parties,

 

AGREE

 

To
sign this agreement, which will be governed by the following clauses:

 

General

 

1.                                      In addition to the legal,
regulatory and statutory provisions applicable to the members of the Managing
Board of Euronext Lisbon, this agreement sets up the specific terms and
conditions that will govern the mandate of the Individual as member of the
Managing Board of Euronext Lisbon.

 

2.                                      Subject to the fulfilment of the registration duties with CMVM, the
Individual will commence his mandate with Euronext Lisbon on 1 January 2005,
the date he was nominated by Euronext Lisbon’s competent body.

 

1

 

 

3.                                      Subject to article 391 of the «Código das Sociedades Comerciais» the Individual
mandate will cease on 31 December 2007. The mandate may be renewed according to
article 18 of Euronext Lisbon’s By-Laws.

 

Remuneration and other benefits

 

4.                                      Senior executive remuneration
including, but not limited to, basic salary, annual performance bonus, benefits
and any other terms and conditions of the correspondent agreement are reviewed
from time to time by the Remuneration Committee of the Supervisory Board of
Euronext N.V.  Normally, any such review
is effective from 1 January annually, but this is entirely at the discretion of
the Remuneration Committee and is not guaranteed.

 

The
remuneration and other benefits of the Individual, as approved by Euronext
Lisbon’s General Meeting according to article 31 of Euronext Lisbon By-Laws are
the following:

 

4.1          Basic salary

 

The
Individual’s basic salary will be € 350,000 per annum, which will be paid
monthly in arrears in 14 instalments, in accordance with the arrangements that
generally apply for the employees of Euronext Lisbon.

 

4.2          Annual Performance Bonus

 

                                              Euronext’s annual
bonus awards are discretionary and payment is not guaranteed but is determined
in relation to Group business performance and the achievement of the Individual’s
personal performance objectives.

 

The
Individual’s annual bonus potential will be to a maximum of 125% of annual basic
salary.  Performance targets and
weightings for the year 2005, based on the variable

 

 

2

 

 

remuneration
policy as applied in 2004, will be set for the Managing Board by the
Remuneration Committee of the Supervisory Board in the first quarter of 2005.

 

4.3          Pension

 

Euronext
will make the appropriate arrangements for the Individual to participate in a
suitable qualified pension or other retirement investment plan.  This will include the costs of provision of
independent professional advice. Thereafter, Euronext’s contributions to a
suitable plan will be structured accordingly, to an upper limit of 20% of basic
annual salary, or to such lower statutory limits that may be set by Portuguese
fiscal or other statutory bodies.

 

4.4          Benefits

 

The
Individual will also be entitled to the following benefits:

 

a/             fully expensed company car, with
driver.

 

b/                                     medical insurance
scheme for the Individual, his spouse and dependant children whilst they remain
in full-time education

 

c/                                      a life insurance
scheme under which a minimum lump sum of two times basic salary may be payable
on the Individual’s death, or more under certain circumstances.  This will be subject to any condition laid
down in the Euronext Lisbon policy, details of which will be provided to the
Individual.

 

d/                                     a general expense
allowance of €1,000 per month managed in accordance with the policy of Euronext
Lisbon.

 

All
of the above benefits are provided subject to the terms of the relevant schemes
as apply generally to the employees of Euronext Lisbon.

 

 

3

 

 

4.5          Business expenses

 

Euronext
will meet the costs of, or reimburse to the Individual against receipts,
business travel, and accommodation and entertainment expenses reasonably
incurred in the performance of the Individual’s duties. The Individual is
required to observe Euronext’s policies concerning business expenses.

 

Notice
Period and Termination of Contract

 

5.                                      If this agreement is
terminated by the competent bodies of Euronext Lisbon before the end of the
normal course of the mandate of the Individual, (i.e. on or before 31 December
2007) and for a reason other than the existence of a legal ground to the
unilateral termination of mandate due to an Individual’s misbehaviour («justa
causa»), Euronext Lisbon agrees to observe the following notice periods

 

•                                          at any time up to
and including 31 December 2005, nine months notice in writing

 

•                                          at any time from
1 January 2006 until the completion of this mandate six months notice in
writing.

 

6.                                      If this agreement is
terminated by Euronext without the observance of the notice period referred to
in the previous number, Euronext Lisbon will pay to the Individual a
compensation equal to the basic salary and other benefits that would be payable
to him during the unobserved notice period.

 

7.                                      The Individual also undertakes
to observe a six months notice period, in writing, to renounce his mandate and
therefore unilaterally terminate this agreement.

 

The
Individual declares that he fulfils, and undertakes himself to fully observe
during the course of his mandate, all the legal, regulatory and statutory
requirements established for the Members of the Managing Body of a Market
Undertaking, namely the ones included in article 13 of the Decreto-Lei n.o
394/99, October, 13.

 

 

4

 

 

8.                                      The Individual undertakes to fully observe the professional secrecy
imposed on him by the relevant legal provisions.  In addition to these obligations the
Individual undertakes that he will not, either during the course of his mandate
or after it has ended, whether deliberately or otherwise, use, disclose or
communicate any information that is confidential or belongs to Euronext Lisbon
or any other entity that forms part of the  Euronext Group. This restriction will not
apply to anything which the Individual does in properly carrying out his duties
for Euronext Lisbon or to any disclosure which is required by law or any
regulatory or investigative authority.

 

9.                                      For the purposes of this agreement it is considered to be confidential
information which the Individual comes across during his duties, that is not
already obviously public knowledge. This will be the case whether the
information relates to Euronext Lisbon itself or to a member or customer of
Euronext Lisbon or any other entity that forms part of the Euronext Group.

 

10.                               In the event that the mandate of the Individual ceases, he undertakes to
return all confidential information without retaining it in any form.  All documents, data, manuals, security keys,
computing equipment and other items which are Euronext’s property and which may
be in his personal possession or under his control (regardless of whether this
information is confidential) must also be returned at this time.

 

11.                               During the course of his mandate, the Individual may not, directly or
indirectly, on his own account or on behalf of or in conjunction with any
person for any period of twelve months after the date on which his mandate terminates,
induce or attempt to induce any employee or director of Euronext Lisbon or any
other entity that forms part of the Euronext Group to leave his/her respective
employment (whether or not this would be a breach of contract by the relevant
employee).

 

5

 

 

12.          The
Individual undertakes that he will not for the period of twelve months after
the termination of his mandate (without the prior written consent of Euronext,
such consent not to be unreasonably withheld or delayed) either alone or
jointly with or on behalf of any person directly or indirectly carry on or set
up or be employed or engaged by or otherwise assist in or be interested in any
capacity in a business which is in competition with the business of Euronext
and its subsidiaries, as such business is located and carried on at the date of
termination.

 

Governing Law and Competent
Jurisdiction

 

13.                               This Agreement is governed by
Portuguese law. As a consequence, both
Parties declare and accept that the Individual will have the rights and
obligations recognized to him, as a member of the Managing Board of Euronext
Lisbon, by the Portuguese Law, namely, the «Código dos Valores Mobiliários»,
the «Código das Sociedades Comerciais» and the Decree-Law, n. 394/99, October,
13.

 

14.                               For the resolution of any
litigation relating to the validity, interpretation or application of this
Agreement, the parties agree to its submission to the Courts of Lisbon and
renounce any other forum, which may be competent.

 

Signed
in Paris on two original documents, both with the same effect, on 26 January 2005

 

 

	
  For
  Euronext Lisbon

  	
  For
  Individual

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Jean-François
  Théodore

  	
   

  	
  Dr.
  Miguel Athayde Marques

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Olivier
  Lefebvre

  	
   

  	
   

  	
   

  

 

6

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