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Remuneration

Remuneration of active and retired members of the Executive Board Amounts in EUR thousands	Short Term Periodic payments				Pension premiums	Total
			Performance related
	Salary	Other 3	Cash 4	Shares 5
2007
Donald J. Shepard	731 1	1,545	4,292	252	256	7,076
Joseph B.M. Streppel	721 2	14	542	194	184	1,655
Alexander R. Wynaendts	676 2	14	717	137	172	1,716
TOTAL	2,128	1,573	5,551	583	612	10,447
2006
Donald J. Shepard	796 1	1,219	4,059	–	277	6,351
Joseph B.M. Streppel	679 2	16	475	–	220	1,390
Alexander R. Wynaendts	575 2	164	602	–	186	1,527
Johan G. van der Werf 6	575 2	13	697	–	186	1,471
Total	2,625	1,412	5,833	–	869	10,739
2005
Donald J. Shepard	803 1	223	2,998	–	270	4,294
Joseph B.M. Streppel	679 2	14	469	–	217	1,379
Alexander R. Wynaendts	575 2	180	568	–	183	1,506
Johan G. van der Werf 6	575 2	11	552	–	184	1,322
Total	2,632	428	4,587	–	854	8,501
Mr. Shepard earns a salary of USD 1 million. Includes base salary, the customary employee profit sharing bonus, as well as a tax deferred employee savings scheme. Other periodic payments are additional remuneration elements, including social security contributions borne by the Group. For Mr. Shepard, the Group has also borne expenses and non-monetary benefits which are provided in his employment agreement with AEGON. These benefits include compensation to the extent that the total actual annual taxation on his total income exceeds the taxation if he were only subject to U.S. taxes, personal life insurance and tax planning. The 2007 and 2006 amounts are affected by the expiration of a tax ruling as a result of which employer and employee pension contributions are no longer tax deferred in the Netherlands. For Mr. Wynaendts, the amount also includes compensation for relocation and cost of living related to his temporary secondment to AEGON USA in 2005 and 2006. In accordance with the provisions of the Short-Term Incentive (STI) Plan for the years 2004, 2005 and 2006, it was established that the value of new business of the Group and of the relevant country units for those years was positive. Accordingly, operating earnings were calculated and established per area of responsibility. After adoption of the 2004, 2005 and 2006 annual accounts by the shareholders, the disclosed STI cash bonuses for the years 2004, 2005 and 2006 were paid in 2005, 2006 and 2007 respectively. In addition to the STI plan, Mr. Shepard is entitled to a short-term incentive bonus equal to 0.1% of the net income of AEGON N.V. according to the adopted accounts. The amount included in the table for 2007 is based on net income over 2006 as reported in the 2006 IFRS financial statements. The amount included in the table for 2006 is based on net income over 2005 as reported in the 2005 IFRS financial statements. The amount included in the table for 2005 is based on net income as reported in our 2004 financial statements which were prepared in accordance with Dutch accounting principles. In accordance with the elections made by the Executive Board members under the terms of the 2003 STI plan, the Executive Board received bonus shares in April 2007. The number of bonus shares varied from 0 to 100% of the number of shares paid in 2003, calculated through performance based matching, on the basis of earnings per share growth over inflation over the years 2004, 2005 and 2006. The number of shares for each member was: Mr. Shepard 16,143; Mr. Streppel 12,409; and Mr. Wynaendts 8,771. These have been converted using the share price of EUR 15.61 at April 25, 2007. Mr. Van der Werf resigned from AEGON’s Executive Board at January 1, 2007 after being appointed to the Group’s Management Board. Effective January 21, 2008, Mr. Van der Werf has stepped down as Chief Executive Officer of AEGON The Netherlands.

2007 variable compensation Amounts in EUR	STI amount 2007 (due in 2008) 1	LTI amount 2007 (due in 2008) 1
Executive Board member
Donald J. Shepard	609,516	730,834
Joseph B.M. Streppel	237,500	237,500
Alexander R. Wynaendts	301,000	270,000
Variable compensation for the 2007 financial year will be paid after adoption of the Group’s financial statements on April 24, 2008. The STI will be paid in cash. The LTI will be paid in the form of conditionally granted AEGON shares.

The two tables below show the number of shares and options conditionally granted based on LTI plans that existed prior to 2007.

Total overview of conditionally granted shares
	Grant date	Number of shares per January 1, 2007	Number of shares granted in 2007	Number of shares vested in 2007	Number of shares expired/ forfeited in 2007	Number of shares per December 31, 2007	Reference period
Donald J. Shepard	23-Apr-04	35,767			35,767		2004 – 2006
	22-Apr-05	38,542				38,542 1	2005 – 2007
	26-Apr-06	26,213				26,213	2006 – 2008
Joseph B.M. Streppel	23-Apr-04	16,661			16,661		2004 – 2006
	22-Apr-05	20,169				20,169 1	2005 – 2007
	26-Apr-06	13,909				13,909	2006 – 2008
Alexander R. Wynaendts	23-Apr-04	14,106			14,106		2004 – 2006
	22-Apr-05	17,066				17,066 1	2005 – 2007
	26-Apr-06	11,769				11,769	2006 – 2008
Johan G. van der Werf	23-Apr-04	14,106			14,106		2004 – 2006
	22-Apr-05	17,066				17,066 1	2005 – 2007
	26-Apr-06	11,769				11,769	2006 – 2008
These shares will vest in 2008 at 100%.

Total overview of conditionally granted options
	Grant date	Number of options per January 1, 2007	Number of options granted in 2007	Number of options vested in 2007	Number of options expired / forfeited in 2007	Number of options per December 31, 2007	Number of exercisable options	Exercise price	Reference period
Donald J. Shepard	23-Apr-04	71,534			71,534	–		11.74	2004 – 2006
	22-Apr-05	77,084				77,084 1		9.91	2005 – 2007
	26-Apr-06	150,989				150,989		14.55	2006 – 2008
Joseph B.M. Streppel	23-Apr-04	33,322			33,322	–		11.74	2004 – 2006
	22-Apr-05	40,338				40,338 1		9.91	2005 – 2007
	26-Apr-06	80,115				80,115		14.55	2006 – 2008
Alexander R. Wynaendts	23-Apr-04	28,212			28,212	–		11.74	2004 – 2006
	22-Apr-05	34,132				34,132 1		9.91	2005 – 2007
	26-Apr-06	67,789				67,789		14.55	2006 – 2008
Johan G. van der Werf	23-Apr-04	28,212			28,212	–		11.74	2004 – 2006
	22-Apr-05	34,132				34,132 1		9.91	2005 – 2007
	26-Apr-06	67,789				67,789		14.55	2006 – 2008
These options will vest in 2008 at 100%.

The numbers of shares and options conditionally granted were based on the closing price on the day of the grant. This was also the exercise price of the options. The fair value information on the conditionally granted shares and options will be provided in the year when these vest.

Share appreciation rights and interests in AEGON N.V. held by active members of the Executive Board
	Grant date	Number of rights per January 1, 2007	Number of rights granted in 2007	Number of rights exercised in 2007	Number of rights expired/ forfeited in 2007	Number of rights per December 31, 2007	Number of exercisable rights	Exercise price EUR	Shares held in AEGON at December 31, 2007
Donald J. Shepard	10-Mar-02	50,000				50,000	50,000	26.70
	16-Mar-04	50,000				50,000	50,000	10.56	346,323
Joseph B.M. Streppel	10-Mar-02	50,000				50,000	50,000	26.70
	16-Mar-04	50,000				50,000	50,000	10.56	26,004
Alexander R. Wynaendts	10-Mar-02	40,000 1				40,000 1	40,000	26.70
	10-Mar-03	50,000 1				50,000 1	50,000	6.30
	16-Mar-04	50,000				50,000	50,000	10.56	18,317
The share appreciation rights were granted before becoming a member of the Executive Board.

The above rights have been granted under the LTI plan in force until December 31, 2003. Details of the exercise period are provided in note 37. For each of the members of the Executive Board, the shares held in AEGON as shown in the above table do not exceed 1% of total outstanding share capital at the balance sheet date. At the balance sheet date, the following members of the Executive Board had loans with AEGON or any AEGON related company: Mr. Streppel had a 5% mortgage loan of EUR 608,934; and Mr. Wynaendts had two mortgage loans totaling EUR 635,292, with interest rates of 4.1% and 4.4% respectively. In accordance with the terms of the contracts, no principal repayments were received on the loans in 2007. The terms of the board members’ loans have not been amended in 2007, with the exception of the interest rates for Mr. Wynaendts.

Severance payment arrangements

Termination of the employment contracts requires a three months notice period for the current members of the Executive Board. In the event of contract termination by AEGON, the company must adhere to a notice period of six months and, unless terminated for urgent cause, the member of the Executive Board would be entitled to a severance arrangement.

Under his Employment Agreement, Mr. Shepard shall be entitled to a specified amount of severance upon termination of his employment for reasons specified in the Employment Agreement. Under his Employment Agreement, Mr. Shepard shall be entitled to severance in the amount of three year’s base salary and the aggregate short-term incentive compensation he received during the three years prior to the termination in the event that Mr. Shepard’s employment is terminated (a) by AEGON other than for urgent cause, death, disability, voluntary resignation or retirement, (b) by AEGON in connection with a merger, take-over or fundamental changes of policy and related organizational amendments, or (c) by Mr. Shepard in the event that his responsibilities or position are diminished by such circumstances. Any such severance payments received by Mr. Shepard shall be taken into account in determining the amounts payable to him under his AEGON USA Supplemental Executive Retirement Plan (SERP). In addition, three additional years of service will be credited for the purpose of calculating his benefits under the SERP.

Mr. Streppel would be entitled to compensation according to the ‘Zwartkruis’ formula, which means that the severance payment would be calculated on the basis of and depending on age, years of service, functional level and the probability of finding an equivalent position. Mr. Wynaendts would be entitled to three years’ fixed salary, only in the case of termination in connection with a merger or take-over.

Remuneration of active and retired members of the Supervisory Board in EUR	2007	2006	2005
Dudley G. Eustace	84,500	79,000	82,565
O. John Olcay	66,250	65,000	66,250
Irving W. Bailey, II	68,750	56,669	48,750
Antony Burgmans (as of April 25, 2007)	39,718	–	–
René Dahan	64,500	59,500	59,500
Shemaya Levy (as of April 21, 2005)	59,000	65,000	46,808
Karla M.H. Peijs (as of April 25, 2007)	30,718	–	–
Toni Rembe	57,000	60,000	60,000
Willem F.C. Stevens	71,750	73,000	74,750
Kornelis J. Storm	47,500	46,250	47,500
Leo M. van Wijk	48,750	47,500	48,750
Total for active members	638,436	551,919	534,873
Peter R. Voser (up to April 25, 2006)	–	15,138	54,000
Clifford Sobel (from April 25, 2006 up to July 17, 2006)	–	9,231	–
Morris Tabaksblat (up to April 21, 2005)	–	–	22,769
Total	638,436	576,288	611,642

Starting January 1, 2005, a three-components structure has been introduced for the remuneration of the Supervisory Board: (1) a base fee (for membership of the Supervisory Board); (2) an additional fee for membership of a Committee; and (3) an attendance fee for face-to-face Committee meetings.

Members of the Supervisory Board do not have any share options or share appreciation rights in AEGON N.V. at December 31, 2007.

Common shares held by Supervisory Board members Shares held in AEGON at December 31	2007	2006	2005
Irving W. Bailey, II	29,759	29,759	29,759
René Dahan	25,000	25,000	25,000
Karla M.H. Peijs (as of April 25, 2007)	900	–	–
Toni Rembe	6,658	6,658	6,658
Kornelis J. Storm	276,479	276,479	276,479
Total	338,796	337,896	337,896