NOTE 52 NOTE 52 RELATED PARTY TRANSACTIONS  AEGON owns a 57% limited partnership interest in Prisma  Capital Partners LP (‘Prisma LP’) which serves as an investment  manager for certain of AEGON’s hedge fund investments as well  as for other third parties, and Prisma is paid management fees  for these services. The remaining 42% limited partnership  interest is owned by unrelated entities made up of various  employees and individuals. Prisma GP LLC is the general  partner with a 1% interest and is responsible for day-to-day  activities. A management board with seven voting members  (three appointed by AEGON, three appointed by Prisma GP LLC  and one independent member appointed collectively by the  other six voting members) must approve certain actions,  including restructuring transactions, hiring senior management  and the annual operating budget. As a result, notwithstanding  AEGON’s 57% economic interest, the Company can not exercise  voting control since AEGON only appoints three out of the  seven board members, AEGON cannot remove the majority of  the management board members and AEGON does not have  other arrangements, contractual or otherwise, that would give  AEGON more than half of the voting power of Prisma LP. Refer to note 10 for further details on investments in associates.  Related party transactions include, among others, transactions  between AEGON N.V. and Vereniging AEGON. As of December 1, 2010, and on a date no later than June 30,  2011, AEGON has the right to repurchase part or all of the  securities at a purchase price equal to EUR 6.00 per security  and no interest will be payable. After June 30, 2011 AEGON may  at any time repurchase the remaining securities at EUR 6.00  per security, plus interest. Alternatively, and as from December  1, 2011, AEGON may choose to convert these securities into  common shares on a one-for-one basis. In this situation, the  Dutch government may opt for repurchase in cash (at the  original issue price of EUR 4.00).  On August 30, 2010, AEGON repurchased 125 million of the  convertible core capital securities. The total payment to the  Dutch government on August 30, 2010 amounted to EUR 563  million and included a premium for repurchase amounting to  EUR 52 million and accrued interest from May 25, 2010 of EUR 11  million. This repurchase was in line with AEGON’s agreement with  Vereniging AEGON and Vereniging AEGON’s agreement with the  Dutch government as amended in August 2010.  In August 2010, the European Commission approved the capital  support provided to AEGON by the Dutch State through  Vereniging AEGON . The Commission gave its approval for the  state support, but imposed a number of behavioral constraints  on the Company, which will remain in place until the support is  fully repaid. To secure the European Commission’s approval,  AEGON committed itself not to pay any dividend to common  shareholders until the convertible core capital securities have  been fully repurchased. Dividend payment on preference shares  will remain possible. Vereniging AEGON will use income from  the non-voting securities to service the loan from the Dutch  government. On December 1, 2008, AEGON secured EUR 3 billion of  convertible core capital securities from the Vereniging AEGON.  On November 30, 2009, AEGON redeemed EUR 1 billion in  principal amount of those convertible core capital securities for  EUR 1.15 billion and an amount of EUR 1 billion of the senior loan  provided by the Dutch State through Vereniging AEGON was  repaid. The total payment to the Dutch government amounted  to EUR 1.15 billion. Under the terms of AEGON’s agreement with  Vereniging AEGON and Vereniging AEGON’s agreement with the  Dutch government, the premium for repurchase amounted to  EUR 108 million based on the volume weighted average share  price of AEGON shares of EUR 4.8315 during the five trading  days from November 23 until November 27. The amount  repurchased includes accrued interest from May 22, 2009 of  EUR 44 million. Refer to note 16 for for disclosure about the  convertible core capital securities. On October 1, 2009, Vereniging AEGON exercised its option  rights to purchase in aggregate 33,860,000 class B preferred  shares at par value to correct dilution caused by AEGON’s  EUR 1 billion equity issue as completed in August 2009. AEGON provides reinsurance, asset management and  administrative services for employee benefit plans relating to  pension and other post-employment benefits of AEGON  employees. Certain post-employment insurance benefits are  provided to employees in the form of insurance policies issued  by affiliated insurance subsidiaries. In the Netherlands, AEGON employees may make use of  financing and insurance facilities for prices which are equivalent  to the price available for agents. The benefit for AEGON  employees is equivalent to the margin made by agents. The Management Board, which assists the Executive Board in  pursuing AEGON’s strategic goals, is formed by members of the  Executive Board, and the CEO’s of AEGON USA, AEGON The  Netherlands, AEGON UK and AEGON Central & Eastern Europe.  The total remuneration for the members of the Management  Board over 2010 was EUR 9.9 million (2009: EUR 9.3 million),  consisting of EUR 5.7 million (2009: EUR 4.3 million) salary  and other short term benefits, EUR 1.7 million  220 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OF AEGON N.V. 