Continuation of employment
You are appointed as President and Chief Executive Officer, and your employment with Royal
Philips Electronics will be continued after March 31, 2011 subject to appointment by the
General Meeting of Shareholders of the Company.
The Supervisory Board undertakes to submit to the General Meeting of Shareholders to be
held on March 31, 2011 a proposal for your appointment as President and Chief Executive
Officer of Royal Philips Electronics as of March 31, 2011.
In the event of such appointment, the terms and conditions stated in this letter agreement and
its annexes replace all terms and conditions laid down in your previous employment agreement
and all oral and written understandings reached with you and any company belonging to the
Philips Group.