Document:

GOLDEN
      EAGLE INTERNATIONAL, INC.

    

    SERIES
      B CONTINGENT CONVERTIBLE PREFERRED 

    STOCK
      SUBSCRIPTION AGREEMENT

    

    THE
      SERIES B STOCK BEING OFFERED BY GOLDEN EAGLE INTERNATIONAL, INC.
      HEREUNDER HAS NOT BEEN REGISTERED UNDER THE SERIES A STOCK ACT OF 1933 OR
      APPLICABLE STATE BLUE SKY OR SECURITIES LAWS AND IS OFFERED UNDER AN EXEMPTION
      FROM THE REGISTRATION PROVISIONS OF SUCH LAWS. THESE SECURITIES CANNOT BE SOLD,
      TRANSFERRED, ASSIGNED OR OTHERWISE DISPOSED OF EXCEPT IN COMPLIANCE WITH THE
      RESTRICTIONS ON TRANSFER CONTAINED IN THIS STOCK SUBSCRIPTION AGREEMENT AND
      APPLICABLE FEDERAL AND STATE SECURITIES LAWS.

    

    NOTE:
      By considering an investment in Golden Eagle International, Inc., as described
      herein, you are representing, and by executing this Subscription Agreement,
      you
      represent and warrant, that you are an “accredited investor” as that term is
      defined in Section 2(a)(15) of the Federal Securities Act of 1933 (the “1933
      Act”) and Rule 215 thereunder, and in Rule 501(a) of Regulation D under the 1933
      Act,.

    

    This
      Subscription Agreement (“Subscription Agreement” or “Agreement”) is for the
      completion of an offering of securities (the “Offering”) by Golden Eagle
      International, Inc. (the “Company”) to Golden Eagle Mineral Holding,
      Inc. (“GEMH”
      or “you”),
      pursuant to Sections 4(2) and 4(6) of the 1933 Act and Rule 506 of Regulation
      D
      thereunder. The following summarizes the Offering to the
      Investor:

    
      	•	
              Offering:
                936,960
                shares of Series B Contingent Convertible Preferred Stock for a price
                of
                $1.00 per share, of which $936,959.88 will be invested on the date
                that
                this Agreement through the satisfaction of GEMH’s promissory notes, or
                other debt instruments, which are attached hereto, marked as Exhibit
“A”
                and by this reference are made a part hereof, and the exchange of
                those
                debt instruments for Series B Contingent Convertible Preferred Stock.
                

            

    

    

    
      	•	
              Series
                B Stock: Each
                share of the Company’s Series B Convertible Preferred Stock (“Series B
                Stock”), is convertible into the Company’s Common Stock in accordance with
                the provisions contained in the Certificate of Designation of Preferences
                and Rights of the Series B Stock (“Designation”). The Series B Stock has
                significant transferability restrictions imposed by SEC Rule
                144.

            

    

     

    
      	•	
              Total
                offering: $936,959.88
                maximum (there is no minimum total investment). The Company may use
                all
                funds as invested in its own discretion, regardless of whether the
                Company
                has sufficient funds to pursue its proposed operations (as described
                in
                the Company’s reports filed under the Stock Exchange Act of 1934 (the
                “1934 Act Reports”).

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	•	
              Use
                of Proceeds:
                The
                entire Offering proceeds, which result from the exchange of currently
                existing debt owed by the Company to GEMH, have been used, or are
                currently being used, by the Company for working capital and general
                corporate expenses. 

            

    

    

    This
      Subscription Agreement is offered for the purpose of GEMH considering the
      ramifications of its investment in the Offering as described above. If after
      reviewing this Subscription Agreement and other relevant documents with the
      your
      legal, financial, tax and investment advisors as you deem appropriate you elect
      to purchase Securities, please complete the following: 

    

    By
      executing this Agreement and returning it to the Company, you further agree
      that
      your investment is being made entirely on the terms and conditions stated herein
      and in the documents attached hereto. You understand that this Subscription
      Agreement is not binding until the Company accepts it in writing.

    

    Caveat:
      Certain statements contained herein and included in other documents which have
      been given to you (including the Company’s reports filed pursuant to the
      requirements of the 1934 Act) using the terms “may,” “expects to” and other
      terms denoting future possibilities, are forward-looking statements. We cannot
      guarantee the accuracy of these statements as they are subject to a variety
      of
      risks, which are beyond our ability to predict or control. These risks may
      cause
      actual results to differ materially from the projections or estimates given
      to
      you. These risks include, but are not limited to, the possibility that the
      described operations or other activities will not be completed on economic
      terms, if at all. Our contemplated operations are attendant with high risk.
      There can be no assurance that we will succeed in operating our contemplated
      business, and it is important that each person considering and investment
      pursuant to this Subscription Agreement understands the significant risks,
      which
      accompany the proposed conduct of our future operations.

    

    In
      connection with your proposed purchase of the Series B Stock, you further
      represent as follows:

    

    1.    You
      understand that an investment in the Series B Stock is one of significant risk,
      and there can be no assurance that the Series B Stock, or the common stock
      into
      which it is convertible, will ever be valuable, or that the Company will ever
      be
      able to actually receive the support and favorable vote of a majority of its
      shareholders to authorize the increase of its common stock. You understand
      that
      currently the Company has no available common stock and that it has reached
      the
      limits of its currently authorized common stock. You further understand that
      the
      Company will make its best efforts to seek and receive the approval of a
      majority of its shareholders for an increase in its authorized common stock
      sufficient to allow you to convert your Series B Stock into common stock of
      the
      Company, but that the Company cannot guarantee such an outcome. If the Company
      is unable to secure the approval of a majority of its shareholders for an
      increase in its authorized stock, then you will remain the holder of Series
      B
      Stock only. The risks associated with an investment of the Series B Stock are
      those set out in this paragraph, as well as those that are set forth in the
      Company’s 1934 Act Reports filed with the U.S. Securities and Exchange
      Commission and available on its EDGAR electronic filing service, or also
      available through the Company website, www.geii.com, or have been made available
      to you from the Company upon request. By signing this Subscription Agreement,
      you represent and warrant to the Company that you are familiar with, and are
      willing to accept, all such risks.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    2.    You
      acknowledge that you may lose your entire investment in the Series B Stock.
      You
      hereby represent that an investment in the Series B Stock is a suitable
      investment for you, taking into consideration the restrictions on
      transferability and the other considerations affecting the Series B Stock and
      the Company as described herein, and in the documents included with this
      Subscription Agreement and in the due diligence investigation that you have
      made.

    

    3.    You
      will
      acquire the Series B Stock for your own account and not on behalf of any other
      person or entity. You will acquire the Series B Stock for investment purposes
      and not for resale or distribution to any other person.

    

    4.    You
      are
      not aware of the payment of any commission or other remuneration to any person
      in connection with the execution of this transaction or the purchase of the
      Series B Stock.

    

    5.    We
      have
      provided you with access to the Company’s 1934 Act Documents, disclosure on the
      Company’s website, press releases, and updated information. You are aware that,
      unless the Company is able to raise a substantial amount of money, the Company
      may not be able to continue in business. Currently the Company is not able
      to
      pay all of its debts as they have become due. Your debt is an example of this
      problem. We have given you the opportunity to ask questions of and to receive
      answers from us about the terms and conditions of this Offering, and we also
      have given you the opportunity to obtain any additional information regarding
      the Company, which we possess or can acquire without unreasonable effort or
      expense including (without limitation) all minutes of meetings of our Board
      of
      Directors or committees, and other relevant documents you have requested. We
      have also given you the opportunity to speak with our independent auditors,
      and
      you have done so to the extent you have deemed it to be necessary or
      appropriate. In addition, you have made such other financial or other inquiry
      as
      you have deemed necessary or appropriate in the conduct of your due diligence
      investigation. You have not relied on due diligence of any other party in
      connection herewith.

    

    6.    You
      acknowledge and understand, however, that we have not authorized any person
      to
      make any statements on our behalf, which would in any way contradict any of
      the
      information that we have provided to you in writing, including the information
      set forth in this Subscription Agreement or in the 1934 Act Documents. You
      further represent to the Company that you have not relied upon any such
      representations regarding the Company, its business or financial condition
      or
      this transaction in making any decision to acquire the Series B Stock. If you
      become aware of conflicting information, you will discuss this with
      us.

    

    7.    Your
      present financial condition is such that it is unlikely that it would be
      necessary for you to dispose of the Series B Stock in the foreseeable future.
      You further understand and agree that:

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	 	
              a.

            	
              Neither
                the Series B Stock nor the shares of common stock issuable upon conversion
                of the Series B Stock have been registered under the Series A Stock
                Act of
                1933 or any state or foreign securities laws and, consequently are
                and
                will continue to be restricted securities within the meaning of Rule
                144
                promulgated under the 1933 Act and applicable state
                statutes;

            

    

    

    
      	 	
              b.

            	
              You
                cannot resell the Series B Stock or the shares of common stock issuable
                upon conversion of the Series B Stock unless they are registered
                under the
                1933 Act and any applicable state securities laws or unless an exemption
                from the registration requirements is
                available;

            

    

    

    
      	 	
              c.

            	
              As
                a result, you must bear the economic risks of the investment in the
                Series
                B Stock and the shares of common stock issuable upon conversion of
                the
                Series B Stock for an indefinite period of
                time;

            

    

    

    
      	 	
              d.

            	
              The
                Company is the only person that may register the Series B Stock or
                the
                shares of common stock issuable upon conversion of the Series B Stock
                under the 1933 Act and state securities statutes, and we have not
                made any
                representations to you regarding any possible future registration
                of the
                Series B Stock or compliance some exemption under the 1933
                Act;

            

    

    

    
      	 	
              e.

            	
              You
                will not sell or attempt to sell the Series B Stock or the shares
                of
                common stock issuable upon conversion of the Series B Stock without
                registration under the 1933 Act and any applicable state securities
                laws,
                unless exemptions from such registration requirements are available
                and
                the undersigned has satisfied the Company that an exemption is available
                for such sale;

            

    

    

    
      	 	
              f.

            	
              The
                Company has the right to issue instructions to its transfer agent
                to bar
                the transfer of any of the certificates representing the Series B
                Stock
                and the shares of common stock issuable upon conversion of the Series
                B
                Stock except in accordance with the 1933 Act;
                and

            

    

    

    
      	 	
              g.

            	
              You
                consent to the placement of an appropriate restrictive legend or
                legends
                on any certificates evidencing the Series B Stock and any certificates
                issued in replacement or exchange therefor, as well as any certificates
                issued representing the shares of common stock issuable upon conversion
                of
                the Series B Stock. 

            

    

    

    8.    You
      have
      reviewed this Subscription Agreement and all information you have obtained
      regarding the Company, its proposed business, assets, management, financial
      condition, capitalization and share ownership and plan of operations with your
      legal, financial, tax and investment advisors to the extent that you have
      determined that it is appropriate or necessary for you to do so prior to
      committing to make an investment herein. Your review has included (without
      limitation) the following documents:

    

    
      	 	
              a.

            	
              The
                Company’s articles of incorporation, including amendments thereto, and
                bylaws;

            

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      	 	
              b.

            	
              The
                Designation;

            

    

    

    
      	 	
              c.

            	
              Minutes
                of meetings or Statements of Consents of the Company’s Board of
                Directors;

            

    

    

    
      	 	
              d.

            	
              The
                Company’s 1934 Act Documents; and

            

    

    

    
      	 	
              e.

            	
              Such
                other documents as you or your advisors have determined
                appropriate.

            

    

     

    9.    You
      represent and warrant that you have reviewed a the way in which your original
      loan proceeds were used, which loan you are now exchanging for Series B Stock
      in
      the Company, and are satisfied with the use of proceeds and have no objections
      thereto.

    

    10.    We
      may
      amend or modify this Agreement only in writing signed by both you and the
      Company. No evidence shall be admissible in any court concerning any alleged
      oral amendment hereof.

    

    11.    This
      Agreement binds and inures to the benefit of our respective representatives,
      successors and permitted assigns.

    

    12.    Each
      of
      us hereto agrees for ourselves and our successors and permitted assigns to
      execute any and all further instruments necessary for the fulfillment of the
      terms of this Agreement.

    

    13.    You
      acknowledge that the Company is relying on the accuracy of the representations
      and warranties you are making in this Agreement, and you agree to indemnify
      the
      Company, and to hold us harmless from and against any and all liability that
      may
      result to us (including court costs and attorneys’ fees) as a result of any of
      your representations or warranties being materially inaccurate, incomplete
      or
      misleading.

    

    14.    You
      acknowledge that you have reviewed the definition of the term “accredited
      investor” as set forth following your signature and you represent and warrant to
      us that you are an “accredited investor.”

    

    15.    This
      Agreement is made under, shall be construed in accordance with and shall be
      governed by the laws of the State of Colorado.

    

    16.    This
      Agreement is not effective unless and until it is accepted in writing by the
      Company, regardless whether the Company has received or deposited the
      subscription amount.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    IN
      WITNESS WHEREOF, subject to our acceptance, you have completed this Subscription
      Agreement and tendered payment as set forth above to evidence your commitment
      to
      purchase the Series B Stock on the terms, and with the representations and
      warranties set forth above.

     

    
      	 	 	 
	 	(Investor)
	 
 	 
 	 
 
	Date: June 27, 2007	By:  	/s/
              J.
              Miguel Monroy, M.D.
	 	
              
Golden
              Eagle Mineral Holding,
              Inc.

    

     

    
      	Name: J.
              Miguel Monroy, M.D. 	Title: President 
	Address:    Chancery
              Court 	 
	
              Leeward
                Highway 

            	 
	
              Providenciales,
                Turks and Caicos Islands 

            	Tax ID #: n/a 

    

    

    Form
      (circle one): individual (corporation) partnership ltd.liab.co. trust
      other_______________

    

    SUBSCRIPTION
      ACCEPTED AND RECEIPT OF CONSIDERATION ACKNOWLEDGED:

    
      	 	 	 
	 	GOLDEN
              EAGLE
              INTERNATIONAL, INC.
	 
 	 
 	 
 
	June
              27,
              2007	By:  	/s/
              Terry C. Turner
	 	
              
Terry
              C. Turner, President

    

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    DEFINITION
      OF “ACCREDITED
      INVESTOR”

    

    Section
      2(15) of the 1933 Act:

    

    (15)
      The
      term “accredited investor” shall mean B

    

    (i)
      a
      bank as defined in section 3(a)(2) of the Act whether acting in its individual
      or fiduciary capacity; an insurance company as defined in section 2(13) of
      the
      Act; an investment company registered under the Investment Company Act of 1940
      or a business development company as defined in section 2(a)(48) of that Act;
      a
      Small Business Investment Company licensed by the Small Business administration;
      or an employee benefit plan, including an individual retirement account, which
      is subject to the provisions of the Employee Retirement Income Security Act
      of
      1974, if the investment decision is made by a plan fiduciary, as defined in
      section 3(21) of such Act, which is either a bank, insurance company, or
      registered investment advisor; or

    

    (ii)
      any
      person who, on the basis of such factors as financial sophistication, net worth,
      knowledge, and experience in financial matters, or amount of assets under
      management qualifies as an accredited investor under rules and regulations
      which
      the Commission shall prescribe.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    Rule
      215. Accredited Investor

    

    The
      term
“accredited investor” as used in section 2(15)(ii) of the Securities Act of 1933
      shall include the following persons:

    

    (a)
      Any
      savings and loan association or other institution specified in section
      3(a)(5)(A) of the Act whether acting in its individual or fiduciary capacity;
      any broker or dealer registered pursuant to section 15 of the Securities and
      Exchange Act of 1934; any plan established and maintained by a state, its
      political subdivisions, or any agency or instrumentality of a state or its
      political subdivisions, for the benefit of its employees, if such plan has
      total
      assets in excess of $5,000,000; any employee benefit plan within the meaning
      of
      Title I of the Employee Retirement Income Security Act of 1974, if the
      investment decision is made by a plan fiduciary, as defined in section 3(21)
      of
      such Act, which is a savings and loan association, or if the employee benefit
      plan has total assets in excess of $5,000,000 or, if a self-directed plan,
      with
      investment decisions made solely by persons that are accredited
      investors;

    

    (b)
      Any
      private business development company as defined in section 202(a)(22) of the
      Investment Advisors Act of 1940;

    

    (c)
      Any
      organization described in section 501(c)(3) of the Internal Revenue Code,
      corporation, Massachusetts or similar business trust, or partnership, not formed
      for the specific purpose of acquiring the securities offered, with total assets
      in excess of $5,000,000;

    

    (d)
      Any
      director, executive officer, or general partner of the issuer of the securities
      being offered or sold, or any director, executive officer, or general partner
      of
      a general partner of that issuer;

    

    (e)
      Any
      natural person whose individual net worth, or joint net worth with that person’s
      spouse, at the time of his purchase exceeds $1,000,000;

    

    (f)
      Any
      natural person who had an individual income in excess of $200,000 in each of
      the
      two most recent years or joint income with that person’s spouse in excess of
      $300,000 in each of those years and has a reasonable expectation of reaching
      the
      same income level in the current year;

    

    (g)
      Any
      trust, with total assets in excess of $5,000,000, not formed for the specific
      purpose of acquiring the securities offered, whose purchase is directed by
      a
      sophisticated person as described in Rule 506(b)(2)(ii); and

    

    (h)
      Any
      entity in which all of the equity owners are accredited investors.

    

    Guidelines
      for Calculating Net Worth:

    

    Any
      valuation of a residence included in the calculation of net worth must be based
      on an appraisal obtained by the Investor in connection with obtaining a loan
      secured by such residence.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

    Marketable
      securities owned by the Investor included in the calculation of net worth must
      be based on a recent market value, with appropriate discounts for lack of
      marketability if the securities represent greater than a 10% interest in the
      issuer, if the securities are “restricted shares” or subject to any contractual
      or other restriction, if the securities are thinly traded, or for other
      appropriate reasons.

    

    Any
      valuation of any other asset with a value in excess of $100,000 must be based
      on
      an independent valuation or appraisal.

     

    Guidelines
      for Calculating Net Income:

    

    For
      the
      purposes of determining whether an Investor is an “accredited investor,” net
      income must be calculated based on its adjusted gross income as reported to
      the
      Internal Revenue Service (for U.S. taxpayers) or other similar measure (for
      non-U.S. taxpayers).

    

    Substantiation
      of Net Worth and Net Income:

    

    Golden
      Eagle International, Inc. (the “Company”) is relying on the accuracy of each
      Investor’s representations and warranties with respect to its status as an
      accredited investor. The Company is aware that personal financial matters are
      private and confidential, and will endeavor to maintain all information
      contained in the subscription agreement or otherwise obtained confidential.
      In
      case of any question, however, the Company may request substantiation of the
      Investor’s status by discussing the issue with the Investor’s banker, attorney,
      accountant, or investment advisor. If questions develop, the Company will
      contact the Investor before seeking any independent confirmation. 

     

    
      
         

      

      
        9EX-4.3

 

Exhibit 4.3

Terms and Conditions

For Incentive or New Hire Options granted to 

Senior and Executive Management

under the ASML Stock Option Plan

(Version January 2007)

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	Related documents
	 	 	2	 
	Article 1 - Definitions
	 	 	3	 
	Article 2 - Scope and Object
	 	 	5	 
	Article 3 - Acquisition of Options
	 	 	5	 
	Article 4 - Acceptance of the Options
	 	 	5	 
	Article 5 - Option Period
	 	 	6	 
	Article 6 - Exercise Price
	 	 	6	 
	Article 7 - Transferability of the Option
	 	 	6	 
	Article 8 - Exercise of the Option
	 	 	8	 
	Article 9 - Dilution of Capital
	 	 	9	 
	Article 10 - Taxes and Costs
	 	 	9	 
	Article 11 - Prevention of Insider Trading
	 	 	10	 
	Article 12 - Notices
	 	 	10	 
	Article 13 - Disputes
	 	 	10	 
	Article 14 - Amendments
	 	 	10	 
	 
	 	 	 	 
	Related documents
	 	 	 	 
	 
	 	 	 	 
	In these Option Conditions reference is made to the following documents:
	 	 	 	 
	—   ASML Stock Option Plan (version 2)
	 	 	 	 
	—   ASML Insider Trading Rules
	 	 	 	 
	These documents may be consulted on the ASML Intranet.
	 	 	 	 

      

			
	TERMS AND CONDITIONS FOR INCENTIVE OR NEW HIRE OPTIONS
	 	2 of 10
	GRANTED TO SENIOR AND EXECUTIVE MANAGEMENT	 	 
	UNDER THE ASML STOCK OPTION PLAN — (Version January 2007)	 	 

 

 

Article 1 — Definitions

In these Option Terms and Conditions and in related documents, the following terms shall have the
meanings as defined in this Article, unless explicitly stated otherwise.

	 	 	 	 	 
	ASML

	 	:
	 	ASML Holding N.V., having its business address at
De Run 6501 in Veldhoven;
	 
	 	 	 	 
	ASML Group Company

	 	:
	 	an affiliated company of ASML, in which the 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;
	 
	 	 	 	 
	Date of Grant

	 	:
	 	the date on which the Option is granted in writing, which date is fixed at January
19th, 2007;
	 
	 	 	 	 
	Embargo Period

	 	:
	 	the period from January 19th, 2007 up to and including
January 18th, 2010;
	 
	 	 	 	 
	Employee

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

	 	:
	 	ASML or ASML Group Company that employs Employee on the Date of Grant;
	 
	 	 	 	 
	Exercise Price

	 	:
	 	the price for which Option Holder may acquire one Share upon the exercise of one Option;
	 
	 	 	 	 
	Option

	 	:
	 	a right granted by Employer to Option Holder to acquire one Share at the end of the Option
Period or the Revised Option Period against payment of the Exercise Price during the Option
Period. Options granted to United States residents or citizens will give such Option
Holders the right to acquire Shares quoted on the NASDAQ while Options granted to all other
Option Holders will give the right to acquire Shares quoted on the AEX;
	 
	 	 	 	 
	Option Conditions

	 	:
	 	the present Terms and Conditions for Incentive or New Hire Options granted to Senior and
Executive Management under the ASML Stock Option Plan – version January

      

			
	TERMS AND CONDITIONS FOR INCENTIVE OR NEW HIRE OPTIONS
	 	3 of 10
	GRANTED TO SENIOR AND EXECUTIVE MANAGEMENT	 	 
	UNDER THE ASML STOCK OPTION PLAN — (Version January 2007)	 	 

 

 

	 	 	 	 	 
	 

	 	 	 	2007, including any modifications subsequently
introduced herein in conformity with the same;
	 
	 	 	 	 
	Option Holder

	 	:
	 	the holder of an Option, being the person to whom an Option has been granted in writing and who
at the time of granting of such Option is an Employee of ASML or who has become the holder of
such Option by virtue of being Employee’s heir;
	 
	 	 	 	 
	Option Period

	 	:
	 	the period during which the Option may be exercised;
	 
	 	 	 	 
	Option Rules

	 	:
	 	the ASML Stock Option Plan (version 2) including any modifications subsequently introduced
therein in conformity with the same, on which these Option Conditions are based;
	 
	 	 	 	 
	Revised Option Period

	 	:
	 	the applicable Option Period for all – or a part of – the Options after approval by Employer of
a request by Option Holder as mentioned in Article 8;
	 
	 	 	 	 
	Share

	 	:
	 	an ordinary share with a nominal value of EURO 0.02 (two EURO Cents) in the share capital of
ASML, which share is listed on the Euronext Amsterdam (“AEX”) in the Netherlands, or the NASDAQ
Stock Market (“NASDAQ”), New York City, New York, USA, which share is acquired by Option Holder
by exercising an Option granted under these Option Conditions;
	 
	 	 	 	 
	Termination for Cause

	 	:
	 	Cause shall mean (i) any act of personal dishonesty taken by Employee in connection with his or
her responsibilities as Employee and intended to result in a personal enrichment of Employee,
(ii) conviction of a felony, (iii) a willful act by Employee that constitutes gross misconduct
and is injurious to Employer, and (iv) continued violations by Employee of his or her
obligations to Employer which are demonstrably willful and deliberate on his or her part after
(a) there has been delivered to Employee a written
demand for performance from Employer that describes the
basis for the belief that he or she has not substantially
performed his or her duties set forth in specific goals to cure such defaults, and (b) he or she has been given 30
(thirty) days during which he or she has been unable to

      

			
	TERMS AND CONDITIONS FOR INCENTIVE OR NEW HIRE OPTIONS
	 	4 of 10
	GRANTED TO SENIOR AND EXECUTIVE MANAGEMENT	 	 
	UNDER THE ASML STOCK OPTION PLAN — (Version January 2007)	 	 

 

 

	 	 	 	 	 
	 

	 	 	 	cure such failure to perform his or her duties. For Employees
who are resident in the Netherlands, the term 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.

The terms defined above in the singular or in the plural shall also comprise the plural and vice
versa, unless in the case concerned it can be inferred otherwise from the text of the Option
Conditions.

Article 2
— Scope and Object

These Option Conditions are part of the Option Rules and contain the terms and conditions that are
applicable to Option Holder pursuant to Article IV of the Option Rules.

Option Holder is aware of the fact that the value of the shares may fluctuate, and that ASML does
not guarantee that Option Holder shall derive any benefit from the Options granted under this ASML
Stock Option Plan – version January 2007.

Nothing in these Option Conditions or related documents by themselves or in combination shall be
construed as an expressed or implied contract of employment or a guarantee of continued future
employment.

Article 3
— Acquisition of Options

Employee is granted Options under these Option Conditions on the Date of Grant by Employer. The
Options are granted in writing.

Article 4
— Acceptance of the Options

	4.1	 	The Options shall be granted under the dissolving condition that within 10 (ten) days after
the Date of Grant, Employee does not inform Employer in writing that Employee does not wish
these Options to be granted to Employee;

	4.2	 	By not rejecting the grant as described in paragraph 1 of this Article, Employee accepts all
of the Options granted pursuant to these Option Conditions;

	4.3	 	Effective from the Date of Grant an Option Agreement will come into existence, unless
Employee has rejected the Options as described in paragraph 1 of this Article.

      

			
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Article 5
— Option Period

	5.1	 	The Option Period shall be 10 (ten) years, counting from the Date of Grant and shall thus end
on January 18th, 2017;

5.2 Options may only be exercised within the Option Period;

	5.3	 	Options that have not been exercised within the Option Period shall lapse after the
expiration of the Option Period;

	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 8.5 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 an ordinary ASML Share on
the Euronext Amsterdam (“AEX”) in the Netherlands on the Date of Grant. For United States residents
or citizens, the Euro denominated Exercise Price will be converted into a United States Dollar
Exercise Price by taking the Exercise Price defined in the first sentence of this Article and
applying the Euro – United States Dollar exchange rate fixing on the Allocation Date as performed
by the European Central Bank at or around 14.00 hours C.E.T.;

Article 7
— Transferability of the Option

	7.1	 	The Option shall be strictly non-transferable and may not be encumbered with a pledge;

	7.2	 	Devolution by last will or hereditary succession pursuant to the statutory provisions shall,
however, not vitiate the Option;

	7.3	 	Option Holder shall not be permitted to conclude any transaction in relation to the Options
on Euronext, Amsterdam, the Netherlands, NASDAQ, New York, United States of America, or any
other stock exchange;

	7.4	 	In the event of Option Holder acting in contravention of the provisions of this Article, the
Options of such Option Holder shall lapse.

      

			
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Article 8
— Exercise of the Option

	8.1	 	The Options may only be exercised on the last day of the Option Period.

	8.2	 	At the request of Option Holder the Option Period may be shortened for all or part of the
Options. The Revised Option Period will then replace the Option Period for part or all the
Options, whichever the request may be. On the last day of the Revised Option Period Option
Holder may exercise the Options for which Option Holder has requested the Revised Option
Period. In the written request Option Holder is required to notify Employer of the requested
end date of the Revised Option Period.

	8.3	 	A written request for a Revised Option Period during the Embargo Period shall not be honoured
by Employer.

	8.4	 	The Options may be exercised only in accordance with established ASML procedures existing at
the time of exercise;

	8.5	 	When exercising the Options Option Holder must comply with the “ASML Rules of Conduct
concerning Insider Information”, as in force at the time of exercising;

	8.6	 	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, after the Embargo Period has expired. In case the remaining Option
Period, measured from the moment 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 the 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;
	 
	 	 	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 Disablement Benefits Act [Wet op de Arbeidsongeschiktheids-verzekering]), the
Options may be exercised during the entire Option Period, after the Embargo Period has
expired;
	 
	 	 	Retirement for these Option Conditions 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.

      

			
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	 	 	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, 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, ASML Group Company or her legal
predecessors. Paragraph 9 of Article 8 is not applicable;
	 
	8.7	 	If, during the Option Period, Employee is terminated for Cause by Employer or Employee is
terminated by Employer on account of another reason imputable to Employee, regardless of
whether employment activities have been terminated, any Options not yet exercised shall lapse
forthwith. All Options that have thus become null and void will do so without Option Holder
being entitled to any compensation in this respect from Employer or another ASML Group
Company. Paragraph 9 of Article 8 is not applicable;
	 
	8.8	 	In case of termination of the employment relationship between Employee and Employer for
reasons other than those mentioned in paragraph 6 or 7 of Article 8, without immediate
re-employment of Employee by Employer or another ASML Group Company, all Options granted which
are not exercised at the time of termination of the employment relationship shall lapse
forthwith, insofar as paragraph 9 of Article 8 is not applicable. All Options that have thus
become null and void will do so without Option Holder being entitled to any compensation in
this respect from Employer or another ASML Group Company;
	 
	8.9	 	In case of termination of the employment relationship between Employee and Employer as
described in paragraph 8 of Article 8, other than being voluntary termination by Employee, the
following “90 day rule” will apply.
	 
	 	 	The “90 day rule” determines that exercisable options may be exercised for a period 90
days from the Date of Notice, the Date of Notice 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 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.

      

			
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	8.10	 	The Options may be exercised by Option Holder for the total number allocated 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 Option Period, provided such exercise
is not in conflict with the provisions of Article 11.

Article 9 — Dilution of Capital

	9.1	 	If at any time the issued capital of ASML increases, for instance as a result of (i) a
resolution to issue shares with a pre-emption right for the holders of the Shares at that time
outstanding, (ii) a stock dividend, or (iii) a capitalisation of reserves, the Exercise Price
and/or the number of Options allocated may be adjusted in such a manner as the Board of
Management shall then decide;
	 
	9.2	 	The adjustments by the Board of Management as referred to in Article 9.1 shall be binding
after an independent accountant, and member of the Netherlands Institute for Registered
Accountants [Nederlands Instituut voor Register Accountants], has issued a certificate stating
that the adjustments have been determined in a reasonable manner. Adjustment of the Exercise
Price and or the number of Options shall take place on the day preceding the day on which
notice was given of the aforementioned resolutions. Any tax and/or social insurance
contributions payable as a result of the above shall be for the account of Option Holder;
	 
	9.3	 	An adjustment of the Exercise Price and/or the number of Options allocated and the
computation upon which the same are based shall be notified as soon as possible to Option
Holder in writing.

Article 10 — Taxes and Costs

	10.1	 	All taxes and/or social insurance contributions payable as a result of the Options allocated
and/or as a result of Option being owned and/or exercised by Option Holder or Option Holder’s
heirs, including possible consequences of an amendment of the Option Conditions, shall be
entirely for the account of Option Holder or Option Holder’s heirs as the case may be;
	 
	10.2	 	Option Holder, or Option Holder’s heirs as the case may be, shall be liable for all the costs
relating to the exercise of Options, including but not limited to costs charged by stock
brokers in connection with the acquired Shares resulting from the exercise of Options and the
contiguous sale of such Shares;
	 
	10.3	 	Costs relating to the issue and/or acquisition of Shares in the capital of ASML shall be for
the account of ASML.

      

			
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Article 11 — Prevention of Insider Trading

Option Holder who, by not rejecting the Options granted as mentioned in Article 4, accepts the
Option Conditions, shall at the same time, be deemed to accept the applicable “ASML Rules of
Conduct concerning Insider Information” and to act accordingly.

Article 12 — Notices

	12.1	 	Notices which must be given by ASML to Option Holder pursuant to or in connection with the
Option Rules and/or the Option Conditions shall be regarded as correctly addressed if sent to
the address of Option Holder as recorded in the Human Resources & Organisation Staff Records
of the ASML Group Company;

	12.2	 	Notices which must be given by Option Holder to ASML pursuant to or in connection with the
Option Rules and/or the Option Conditions shall be regarded as correctly addressed if sent to
the address of ASML as listed with the Chamber of Commerce, for the attention of the ASML
Stock Option Administrator.

Article 13 — Disputes

	13.1	 	The Option Rules, the Option Conditions, the annexes thereto, and all further documents
relating to the Option Rules and/or the Option Conditions shall be governed by the laws of the
Netherlands;

	13.2	 	All disputes arising from the Option Rules, the Option Conditions, the annexes thereto, and
further documents relating to the Option Rules and/or the Option Conditions, shall in the
first instance, be settled by the District Court of Eindhoven.

Article 14 — Amendments

	14.1	 	The Board of Management shall have the power to amend the Option Rules and/or Option
Conditions or add further provisions to the same at any time;

	14.2	 	Option Holder shall be informed of any amendments or measures as referred to in this Article
in good time, in writing.

      

			
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