Document:

Employment Agreement between Company and Theo de Raad

 Exhibit 4.5 
  

			
	 	  	 Royal Ahold
 Supervisory
Board

  

			
	 	  	 Albert Heijnweg 1, 1507 EH Zaandam
 P.O. Box 3050,
1500 HB Zaandam
 The Netherlands
 Telefax +31 75 659 83
53
 Telephone +31 75 659 91 11
 Direct Dial +31 75 659 56
25

  
 Mr. M. P. M. de Raad 
 [The Netherlands] 
  
 Datum:           December 18, 2000 
 Referentie:    AJB/mh/mip 
  
 Dear Mr. de Raad,

  
 We hereby confirm our agreement regarding your appointment as member of the
Executive Board. 
  
 Appointment 
  
 You will be appointed as member of the Executive Board with the title of Executive Vice
President of Royal Ahold as from January 1st 2001. As member of the Executive Board you will carry full joint
responsibility for all activities of Royal Ahold together with the other members of the Board. 
  
 The operative mode of the Executive Board is one of consensus under the chairmanship of the President. Nevertheless, every member of the Board as Liaison Officer is entrusted with specific responsibilities.

  
 Remuneration 
  
 Your will receive the same remuneration as the other Dutch Executive Vice Presidents. Your
fixed gross base salary will be: NLG 1,125,000 annually payable in The Netherlands and US$ 150,000 annually payable in the USA, both in thirteen equal periods of four weeks. 
  
 Your variable income will be payable in the USA in a single payment following the publication of annual results (this will be paid to you
for the first time in 2002). The variable income is calculated according to the following formula: 
  

			
	Variable payment in year Y = US$ 165,000 x	 	earnings per share year Y  x    100
	 	 	earnings per share 1993            75

  
 Actual payment for 1999 was US$
588,370 
  
 You will be paid expense compensation (to cover small expenses) of NLG
19.500 (tax free) annually, payable in The Netherlands in thirteen equal payments. All other business expense is payable by the company. 
  

 You may participate in the Employee Stock-option plan of Royal Ahold. The number of stock-options will be determined by
ESOS on the recommendation of Royal Ahold’s Executive Board. As a member of the Executive Board you are qualified to receive annually 75.000 stock options at the share price of the last trading day of the preceding year, for the first time on
January 1st 2001. 
  
 Ahold Pension is applicable to the Dutch fixed salary. We
can give you more detailed information on specific ways to accommodate your pension plans. 
  
 The so-called salary continuation plan is applicable to the American fixed salary and fully vested after five years. We will send you a copy of this plan. 
  
 You will have free usage of a suitable vehicle, as well as the services of a private driver. 
  
 Place of assignment 
  
 For this assignment you will be located in The Netherlands. 
  
 Termination of the Executive Board Membership 
  
 In addition to the right of the Supervisory Board to discharge members of the Executive Board your membership of this board will come to an
end as follows: 
  

	 	•	Upon your personal request, after reaching sixty years of age. 

  

	 	•	By decision of the Supervisory Board after reaching sixty years of age. 

  

	 	•	In any event, upon reaching sixty-two years of age unless otherwise agreed. 

  

Besides we concluded the following ‘change of control’ clause: 
  
 If there would be a hostile take-over of Royal Ahold and as a consequence it would not be possible to continue your position
as member of the Executive Board, your fixed salary will be paid until you reach the age of sixty-two. 
  
 General Conditions 
  
 The following
general conditions are applicable to this contract: 
  
 Advance notice 
  
 Advance notice in case of resignation will be
mutually agreed upon, however it will at least be equal to three periods of four weeks. 
  
 Telephone 
  
 All reasonable expenses for telephone installation and usage will be for the account of Royal Ahold. 
  
 Security 
  

All reasonable expenses to ensure your security at home will be for account of Royal Ahold. 
  
 Outside functions 
  
 Directorships and/or other outside functions can be accepted only with the advance approval of the Executive Board and the Supervisory
Board. 
  

 -2- 

 Secrecy Agreement 
  
 All employees are held to secrecy both during as well as after completing the employment with the company. Strict confidentiality is
required regarding both general and specific information that would be detrimental to the company or any of its subsidiaries if made available to a third party. 
  

Gifts 
  
 It is prohibited for any employee in relation to his job to accept gifts, commissions, bribes and any other form of encouragement or material advantage, whatever they may
be. 
  
 This contract is subject to Dutch law. 
  
 We wish you all the best in your new and challenging position and express our confidence that
you will contribute to the future success of our company. 
  
 Would you be so kind
to return the enclosed copy duly signed as confirmation of your agreement with the above. 
  
 On behalf of the Supervisory Board, 
  

					
	 Yours faithfully,
	 	 	 	 For approval

			
	 /s/ Ir. H. de Ruiter
	 	 	 	 /s/ M. P. M. de Raad

	
	 	 	 	

	 Ir. H. de Ruiter
 Chairman of the Supervisory Board
	 	 	 	 M. P. M. de Raad

  

 -3-Employment Agreement between Company and J.G. Andreae

 Exhibit 4.6 
  

			
	 	  	 Royal Ahold
 Supervisory Board

		
	 	  	 Albert Heijnweg 1, 1507 EH Zaandam
 P.O. Box 3050, 1500 HB Zaandam
 The Netherlands
 Telefax +31 75 659 83 53
 Telephone +31 75 659 91 11
 Direct Dial +31 75 659 56 25

  
 Mr. J.G. Andreae 
 [The Netherlands] 
  

			
	Date:	  	September 19, 1997
	Reference:	  	AJB/iso/mip/pz437

  
 Dear Mr. Andreae, 
  
 We hereby confirm our agreement regarding your appointment as a member of the Executive
Board. 
  
 Appointment 
  
 You will be appointed a member of the Executive Board with the title of Executive Vice
President of Royal Ahold as from October 1, 1997. As member of the Executive Board you will carry full joint responsibility for all activities of Royal Ahold together with the other members of the Board. Your authority is laid down in the by-laws of
the company dated June 1997, of which a copy is attached. 
  
 The operative mode
of the Executive Board is one of consensus under the chairmanship of the President. Nevertheless, every member of the Board as Liaison Officer is entrusted with specific responsibilities. 
  
 Your initial specific responsibilities will include those for Albert Heijn Supermarkets and Support Services, Marvelo and Meester Wijbe.

  
 As of January 1, 1998, your responsibilities will be extended to include the
Central European Operations in the Czech Republic and Poland. It is intended that as of May 1998 you will also be responsible for all other Netherlands operations including Schuitema, Specialty Stores and GVA. 
  
 Remuneration 
  
 You will receive the same remuneration as the other Executive Vice Presidents. Your fixed base salary will be NLG 725,000 annually payable
in the Netherlands and US $137,500, annually payable, in the USA both in thirteen equal periods of four weeks. Your variable income will be payable in the USA in a single payment following the publication of annual results (this will be paid to you
for the first time pro rata in 1998). The variable income is calculated according to the following formula: 
  

			
	Variable payment in year Y = $ 165,000 x	 	earnings per share year Y
	 	 	earnings per share 1993

  

 You will be paid expense compensation (to cover small expenses) of NLG 16.250, (tax free) annually, payable in the
Netherlands in thirteen equal payments. All other business expense is payable by the company. 
  
 On the first of October 1997 you will receive 8.250 stock options exercizable at the share price of that moment. Annually you are qualified to receive 75.000 stock options at the share price of the last trading day of
the preceding accounts year. 
  
 The stock options have a maximum duration period
of 5 years. 
  
 An Ahold pension is applicable to the Dutch fixed salary. If you
wish we can give you more detailed information on this subject. 
  
 The so-called
salary continuation plan is applicable to the American fixed salary and fully vested after 5 years. 
  
 We will send you a copy of this plan. 
  
 You will
have free usage of a suitable vehicle, as well as the services of a private driver. 
  
 Place of assignment 
  
 For this assignment you will be located
in the Netherlands. 
  
 Termination of Executive Board Membership

  
 In addition to the right of the Supervisory Board to discharge members of
the Executive Board (Article 15 sub 4 of the By-Laws) your membership of this Board will come to an end as follows: 
  

	 	•	Upon your personal request, after reaching sixty years of age. 

  

	 	•	By decision of the Supervisory Board after reaching sixty years of age. 

  

	 	•	In any event, upon reaching sixty-two years of age unless otherwise agreed. 

  
 General Conditions 
  
 The following general conditions are applicable to this contract: 
  
 Advance notice. 
  
 Advance notice in case of resignation will be mutually agreed upon, however it will at least be equal to three periods of four weeks. 
  
 Telephone. 
  
 All reasonable expenses for telephone installation and usage will be for the account of
Royal Ahold. 
  

 -2- 

 Outside functions. 
  
 Directorships and/or other outside functions can be accepted only with the advance approval of the Executive Board and the Supervisory
Board. 
  
 Secrecy Agreement. 

 
 All employees are held to secrecy both during as well as after completing the employment
with the company. Strict confidentiality is required regarding both general and specific information which would be detrimental to the company or any of its subsidiaries if made available to a third party. 
  
 Gifts. 
  
 It is prohibited for any employee in relation to his job to accept gifts, commissions,
bribes, and any other form of encouragement or material advantage, whatever they may be. 
  
 This contract is subject to Dutch law. 
  
 We wish
you all the best in your new and challenging position and express our confidence that you will contribute to the future success of our corporation. 
  
 We are asking you to return the enclosed copy duly signed as confirmation of your agreement with the above. 
  
 On behalf of the Supervisory Board, 
  
 yours faithfully, 
  

					
	 	 	 	 	 For approval:

			
	 /s/ Ir. H. de Ruiter
	 	 	 	 /s/ J.G. Andreae

	
	 	 	 	

	 Ir. H. de Ruiter
 Chairman of the Supervisory Board
	 	 	 	 J.G. Andreae

  
 Enclosures: 
  

	 	•	copy of By-Laws 

  

	 	•	copy of Salary Continuation Plan 

  

 -3-

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