EXHIBIT 10.3
[LOGO] AEGON
INSURANCE GROUP
AMENDMENT NO 2. TO GUARANTEE
BY:
AEGON N.V. (THE "GUARANTOR")
WHEREAS:
(A) Under the terms of that certain Guarantee dated August 1, 2000 renewed
by Amendment No. 1 to Guarantee, dated November 23, 2000 (the
"GUARANTEE") executed by the Guarantor, the Guarantor has previously
agreed to guarantee unconditionally and irrevocably all payments of
principal, premium (if any) and interest (if any) due in respect of the
notes issued during the term of the Guarantee as part of the USD
4,500,000,000 commercial paper program (the "NOTES") of Transamerica
Finance Corporation (the "ISSUER").
(B) The Guarantor desires to amend the Guarantee in certain respects.
NOW THIS AMENDMENT NO. 2 TO GUARANTEE WITNESSES AND IT IS HEREBY DECLARED AS
FOLLOWS:
1. The third paragraph of the text of the Guarantee shall be amended
and replaced, to read in its entirety as follows:
The Guarantee shall extend to all Notes issued by the Issuer
for the period from August 1, 2000 until December 31, 2001 (the
"Duration"). The Guarantee shall continue in full force and effect
until all principal, premium and interest (including any additional
amounts required to be paid in accordance with the Notes) and all other
monies payable in respect of each Note issued by the Issuer during the
Duration of this Guarantee have been paid. The Guarantee may be
renewed, in Guarantor's sole discretion, for a specified duration in
order to continue to serve in full force and effect for Notes issued by
the Issuer after the Duration of this Guarantee. Renewal of the
Guarantee will require an amendment to this Guarantee to be issued by
the Guarantor on or before December 15, 2001. In the event that the
Issuer is no longer an affiliated company of Guarantor, this Guarantee
shall automatically terminate and be of no force or effect with respect
to all Notes issued subsequent to such event. Any such termination of
this Guarantee shall not affect the rights of any holders of Notes
issued during the Duration while the Issuer was an affiliated company
of Guarantor.
2. This Amendment No. 2 to Guarantee shall be governed by and construed
in accordance with the laws of the State of New York without regard to conflicts
of law provisions, except to authorization and execution by or on behalf of the
Guarantor which are required to be governed by the laws of The Netherlands.
3. Except as amended hereby, the Guarantee remains in full force and
effect. Any subsequent references to the Guarantee shall mean the Guarantee as
amended hereby.
Baltimore, June 15, 2001
AEGON N.V.
By: /s/ J.B.M. Streppel
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Name: J.B.M. Streppel
Title: Member Executive Board
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