Common use of Pension Rights Clause in Contracts

Pension Rights. You are entitled to a pension in conformity with the conditions contained in the Pension Regulations of the Stichting Philips Pensioenfonds (Annex F.), subject to the following deviations: • in your case (from a pension build up point of view) the pensionable age is 60, with the conditions being adjusted accordingly. As members of the Board of Management may remain in employment up to the age of 62, they will postpone their claim on payment of pensions to the age of 62, as provided for in the Pension Regulations of the Stichting Philips Pensioenfonds. During the period of postponement the pension level at age 60 will be increased according to the actuarial assumptions of the Pension Fund and the indexation policy of the Pension Fund; • the gross basis is your annual gross salary per 1 April of each calendar year, as mentioned under clause 3. hereof. The 10% increase in the gross basis and eventual allowances as laid down in article 3. of the Pension Regulations of the Stichting Philips Pensioenfonds do not apply to members of the Board of Management; • the pension basis is found by deducting from the gross basis such part of the members’ income as is deemed per 1 April to be covered by statutory pension provisions, the so-called franchise; • with reference to the supplementary pension arrangement laid down in our letter of 22 November 1999, for you the pension basis as laid down in article 3. of the Pension Regulations of the Stichting Philips Pensioenfonds is your annual gross salary increased by 10%.

Pension Rights. You are entitled to a pension in conformity with the conditions contained in the Pension Regulations of the Stichting Philips Pensioenfonds (Annex F.A.), subject to the following deviations: • in your case (from a pension build up point of view) the pensionable age is 60, with the conditions being adjusted accordingly. As members of the Board of Management may remain in employment up to the age of 62, they will postpone their claim on payment of pensions to the age of 62, as provided for in the Pension Regulations of the Stichting Philips Pensioenfonds. During the period of postponement the pension level at age 60 will be increased according to the actuarial assumptions of the Pension Fund and the indexation policy of the Pension Fund; • the gross basis is your annual gross salary per 1 April of each calendar year, as mentioned under clause 3. hereof. The 10% increase in the gross basis and eventual allowances as laid down in article 3. of the Pension Regulations of the Stichting Philips Pensioenfonds do not apply to members of the Board of Management; • the pension basis is found by deducting from the gross basis such part of the members’ income as is deemed per 1 April to be covered by statutory pension provisions, the so-called franchise; • with reference to the supplementary pension arrangement laid down in our letter of 22 November 1999, for you the pension basis as laid down in article 3. of the Pension Regulations of the Stichting Philips Pensioenfonds is your annual gross salary increased by 10%. • with respect to the special pension entitlement the Supervisory Board decided to grant you, the gross basis mentioned above will be EUR 547,000 subject to amendments decided upon by the Supervisory Board. This special pension entitlement amounts to EUR 76,575 (year-end 2003) gross per annum starting at age 62 and is insured with the Stichting Philips Pensioenfonds.

Pension Rights. You are entitled to a pension in conformity with the conditions contained in the Pension Regulations of the Stichting Philips Pensioenfonds (Annex F.), subject to the following deviations: • > in your case (from a pension build up point of view) the pensionable age is 60, with the conditions being adjusted accordingly. As members of the Board of Management may remain in employment up to the age of 62, they will postpone their claim on payment of pensions to the age of 62, as provided for in the Pension Regulations of the Stichting Philips Pensioenfonds. During the period of postponement the pension level at age 60 will be increased according to the actuarial assumptions of the Pension Fund and the indexation policy of the Pension Fund; • > the gross basis is your annual gross salary per 1 April of each calendar year, as mentioned under clause 3. hereof. The 10% increase in the gross basis and eventual allowances as laid down in article 3. of the Pension Regulations of the Stichting Philips Pensioenfonds do not apply to members of the Board of Management; • > the pension basis is found by deducting from the gross basis such part of the members’ income as is deemed per 1 April to be covered by statutory pension provisions, the so-called franchise; • > with reference to the supplementary pension arrangement laid down in our letter of 22 November 1999, for you the pension basis as laid down in article 3. of the Pension Regulations of the Stichting Philips Pensioenfonds is your annual gross salary increased by 10%.

Pension Rights. You are entitled to a pension in conformity with the conditions contained in the Pension Regulations of the Stichting Philips Pensioenfonds (Annex F.A.), subject to the following deviations: • – in your case (from a pension build up point of view) the pensionable age is 60, with the conditions being adjusted accordingly. As members of the Board of Management may remain in However, it is agreed that you will continue your employment up to the age of 62, they and therefore you will postpone their your claim on payment of pensions to the age of 62, as provided for in the Pension Regulations pension regulations of the “Stichting Philips Pensioenfonds”. During the period of postponement the pension level at age 60 will be increased according to the actuarial assumptions of the Pension Fund pension fund and the indexation policy of the Pension Fundpension fund; • – the gross basis is your annual gross salary per April 1 April of each calendar year, as mentioned under clause 3. hereof. The 10% increase in the gross basis and eventual allowances as laid down in article 3. of the Pension Regulations pension regulations of the “Stichting Philips Pensioenfonds Pensioenfonds” do not apply to members of the Board of Management; • – the pension basis is found by deducting from the gross basis such part of the members’ income as is deemed per April 1 April to be covered by statutory pension provisions, the so-called franchise; • – with reference to the supplementary pension arrangement laid down in our letter of 22 November 22, 1999, for you the pension gross basis as laid down in article 3. of the Pension Regulations pension regulations of the “Stichting Philips Pensioenfonds Pensioenfonds” is your annual gross salary increased by 10%.