Vereniging AEGON is an association organised and existing under Dutch law.
Objective
Unlike many other associations, Vereniging AEGON does not have the objective to act for the benefit of its members or to promote their interests. The objective of Vereniging AEGON has been laid down in article 2 of its Articles of Association and is to promote the interests of AEGON N.V. and its stakeholders in a broad sense. Vereniging AEGON achieves its objective mainly as a shareholder of AEGON N.V. by exercising the rights attached to its shareholding.
Membership and the General Meeting of Members
Vereniging AEGON currently totals sixteen members, associated in the General Meeting of Members. New members are elected by the General Meeting of Members on the nomination of the Executive Committee. Two members of the Executive Board of AEGON N.V. are also a member of the Vereniging. Besides monitoring the Executive Committee, the General Meeting of Members also has important decision-making duties, for example when exercising the Vereniging's rights as a shareholder in AEGON N.V. Members of the Vereniging have no rights in respect of the Vereniging's assets, nor in respect of distribution of its profits.
Executive Committee
Vereniging AEGON is managed by an Executive Committee comprised of seven members, who are appointed by the General Meeting of Members on the nomination of the Executive Committee. The two aforementioned members of the Executive Board of AEGON N.V. are also members of the Executive Committee.
Decision making
The General Meeting of Members decides by an absolute majority of the votes. A qualified majority of two-thirds is required for certain decisions, specified in the Articles of Association. The Executive Committee likewise decides by an absolute majority of the votes. A unanimous vote is required for three decisions, specified in the Articles of Association, including on a motion to amend the Articles of Association. The two members of the Executive Board of AEGON N.V. who are also members and Executive Committee members of the Vereniging have no voting rights in respect of several decisions, set out in the Articles of Association, that relate to AEGON N.V.
The above information outlines the legal structure of Vereniging AEGON. For more detailed information reference is made to the Articles of Association.
Leyden Academy on Vitality and Ageing (LAVA)
On September 11, 2008 Vereniging AEGON incorporated, as sole shareholder, Leyden Academy on Vitality and Ageing B.V. (LAVA). The capital (fully paid-in in September 2008) is EUR 1 million. The objective of LAVA is to stimulate, support and conduct activities aimed at the promoting of scientific research and education in the area of medical care, health care, medical science, diseases and physical restrictions, as well as to prevent diseases and physical restrictions connected to ageing and old age (see Development of secondary objective).