REMUNERATION OF ACTIVE AND RETIRED MEMBERS OF THE EXECUTIVE BOARD Performance Amounts in EUR thousands related Salary payments 2 Pension Total 2003 D.J. Shepard 884 1 1,207 3 229 2,320 J.B.M. Streppel 652 4 0 221 873 J.G. van der Werf 552 4 0 187 739 A.R. Wynaendts (as of April 17, 2003) 380 0 129 509 TOTAL FOR ACTIVE MEMBERS 2,468 1,207 766 4,441 P. van de Geijn (up to October 31, 2003) 420 0 143 563 TOTAL 2,888 1,207 909 5,004 2002 D.J . Shepard 1,056 1 992 287 2,335 P. van de Geijn 495 215 49 759 J.B.M. Streppel  495 215 49 759 J.G. van der Werf (as of April 18, 2002) 364 — 36 400 TOTAL FOR ACTIVE MEMBERS 2,410 1,422 421 4,253 K.J. Storm (up to June 30, 2002) 328 291 1,500 2,119 TOTAL 2,738 1,713 1,921 6,372 2001 D.J. Shepard 1,117 1 1,321 313 2,751 P. van de Geijn 475 457 47 979 K.J. Storm 642 616 64 1,322 J.B.M. Streppel 475 305 47 827 TOTAL FOR ACTIVE MEMBERS 2,709 2,699 471 5,879 H.B. van Wijk  — 188 — 188 TOTAL 2,709 2,887 471 6,067 $^{1}$D.J. Shepard earns a salary of USD 1 million. $^{2}$Under an annual short term incentive plan D.J. Shepard may receive USD 50,000 per percent point increase in the preceding year’s earnings per share. The other members of the Executive Board may receive EUR 31,765 (over 2002) per percent point increase in the preceding year’s earnings per share in excess of the rate of European inflation as indicated by the European Central Bank. All bonuses have a maximum of 150% of that year’s salary. No bonuses were paid in 2003 relating to 2002. $^{3}$In addition to the short term incentive plan, D.J. Shepard earned a performance allowance for the period until April 18, 2002 related to the earnings increase of AEGON USA in 2002 which was paid in 2003. As of April 18, 2002, Mr. Shepard is entitled to an annual incentive equal to 0.1% of the net income of AEGON N.V., for the first time for the financial year 2002, paid in 2003 as well. $^{4}$Base salary including increase from Dutch collective labour agreement and a tax deferred employee savings scheme. For a detailed description of the remuneration policy regarding the members of the Executive Board refer to page 71 and following. In line with current market practice the members of the Executive Board are under circumstances entitled to certain severance payments. These payments are either based on age and years of employment with AEGON or fixed to an amount not exceeding three years’ remuneration upon termination of the employment agreement under certain specific circumstances, such as a change of control,  a fundamental change in policy or early retirement upon reaching the age of 60. REMUNERATION EXECUTIVE BOARD AND SUPERVISORY BOARD AEGON GROUP ANNUAL REPORT 2003 117