<SEC-DOCUMENT>0001156973-07-001092.txt : 20140306
<SEC-HEADER>0001156973-07-001092.hdr.sgml : 20140306
<ACCEPTANCE-DATETIME>20070706144551
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001156973-07-001092
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20070706

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASML HOLDING NV
		CENTRAL INDEX KEY:			0000937966
		STANDARD INDUSTRIAL CLASSIFICATION:	SPECIAL INDUSTRY MACHINERY, NEC [3559]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		DE RUN 6501
		CITY:			DR VELDHOVEN
		STATE:			P7
		ZIP:			5504
		BUSINESS PHONE:		31402683000

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 324
		CITY:			AH VELDHOVEN
		STATE:			P7
		ZIP:			5500

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ASM LITHOGRAPHY HOLDING NV
		DATE OF NAME CHANGE:	19950215
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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    <TD colspan="5" valign="top" align="center"><FONT style="font-size:18pt"><FONT style="font-variant: SMALL-CAPS">Skadden, Arps, Slate, Meagher &#038; Flom (UK)&nbsp;llp</FONT></FONT><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">40 BANK STREET<BR>
CANARY WHARF<BR>
LONDON E14 5DS<BR>
&#151;<BR>
(020)&nbsp;7519-7000<BR>
Fax: (020)&nbsp;7519-7070<BR>
www.skadden.com<BR>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><BR>AFFILIATE OFFICES<BR>
&#151;<BR>
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VIENNA</TD>
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    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;6, 2007</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Via EDGAR and Hand Delivery</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
Division of Corporate Finance<BR>
100 F Street, NE<BR>
Washington, D.C. 20549

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Attention: Brian Cascio, Accounting Branch Chief

</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 6pt">RE: <U>ASML Holding N.V. Form 20-F for the fiscal year ended
December&nbsp;31, 2006 (File No.&nbsp;000-25566)</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Mr.&nbsp;Cascio:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On behalf of ASML Holding N.V. (&#147;ASML&#148; or the &#147;Company&#148;), we are writing to respond to the
comments set forth in your letter to Mr.&nbsp;Peter T.F.M. Wennink,
dated June&nbsp;8, 2007, with respect
to the above referenced filing of the Company and our letter
to the Commission dated May&nbsp;4, 2007, setting forth ASML&#146;s
responses to the comments
contained in your letter to Mr. Peter T.F.M. Wennink, dated April 10,
2007.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
July&nbsp;6, 2007<BR>
Page 2<BR>
&nbsp;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Set forth
below are the responses to the Staff&#146;s comments, which have been
provided in each case following the text of the comment in the
Staff&#146;s letter.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Form&nbsp;20-F for the year ended December&nbsp;31, 2006</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Item&nbsp;5.
Operating and Financial Review Prospects, page 23</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>A.
Operating Results, page 23</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><U>Critical
Accounting Policies Using Significant Estimates, page 23</U></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><U>Share-based
compensation expenses, page 26</U></B>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="88%">&nbsp;</TD>
</TR>
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    <TD>&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Comment 1:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>We note in your response to prior comment one
that implied volatility is based on multiple
traded stock options with an average exercise
price close to the exercise price of your
share options. However, the response does not
discuss how you considered that one of the
factors listed in Question 4 of SAB Topic
14.D.1 states that to exclusively rely on
implied volatility the traded options must
have exercise prices that are both (a)
near-the-money and (b)&nbsp;close to the exercise
price of the employee share options. Please
confirm to us that the traded options used to
determine the implied volatility were both
near the money and close to the exercise price
of the employee share options.</I></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Response:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ASML confirms to the Staff that the implied
volatility it uses to value its employee stock
options is based on traded options that have
exercise prices that are both near-the-money
and close to the exercise price of the
employee stock options. Furthermore, as
indicated in our prior response, ASML will
enhance its disclosure in future filings to
further clarify the foregoing.</TD>
</TR>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
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</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Consolidated
Financial Statements</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><U>Note&nbsp;13.
Employee Benefits, page&nbsp;F-24</U></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><U>Stock
Option Extension Plans and Financing, page F-27</U></B>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B></B></U></TD>
</TR>
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    <TD>&nbsp;</TD>
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<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Comment 2:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>We reference prior comment three. Regarding
the accounting for the A Options issued prior
to 2001, we reference paragraph 49 of EITF
00-23 which states that if the amount of taxes
to be reimbursed is fixed and the award
otherwise qualifies as a fixed award, the
award should be accounted for as a fixed award
from the date of grant. Tell us how you
concluded that the amount to be reimbursed to
the company under the loan agreement is fixed
since it is based on the fair value of the stock options at the date of exercise, If the cash payment that is contingent
upon exercise of an option is not fixed, tell us why the stock options should not
have been accounted for under variable accounting.</I></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Response:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">As discussed in our prior response, in accordance with the
Dutch wage tax law prior to 2001, the grant of stock options to
employees was a taxable event at the grant date of the stock
options and not at the exercise date. At the grant date of the
A Options, ASML was required to withhold the wage tax on the
taxable fair value of the A Options as determined by the Dutch
tax authorities. This amount of wage tax is fixed at the date
of grant of the A Options and is not subject to subsequent
adjustments. As the A Options otherwise qualify as a fixed
award, the Company believes the A Options qualify for fixed
plan accounting. In reaching its accounting conclusions, ASML
analogized to the fact pattern described in paragraph 49 of
EITF 00-23.</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
July&nbsp;6, 2007<BR>
Page 3<BR>
&nbsp;

</DIV>


<DIV align="center">
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<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Comment
3:&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Regarding the B Options issued during 2006, please tell us
why you should not record the options as liabilities under
SFAS 123-R. Clarify how you considered that all risk and
rewards are assumed by the employee since the loan is
mandatorily repayable when your share price reaches a
level sufficient for the loan and related wage tax to be
repaid from the proceeds with a gain of EUR 1 per stock
option remaining for the employee.</I></TD>
</TR>

<TR valign="bottom"><!-- Blank Space -->
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Response:&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">In response to the Staff&#146;s comment, ASML wishes to clarify
the operative provisions of the B Options. The B Options
may only be exercised if the A Options expire unexercised.
In this event, the B Options can be exercised at any time
at the option of the employee holding the B Options, and
are mandatorily exercisable if ASML&#146;s share price reaches
a level such that upon exercise of the option and sale of
the underlying share, the employee will receive an amount
sufficient to repay the fixed amount of the loan plus a
EUR 1 per option gain (&#147;Mandatory Exercise Level&#148;).</TD>
</TR>


<TR valign="bottom"><!-- Blank Space -->
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Upon an optional or mandatory exercise of the B Options,
ASML&#146;s only obligation is to issue the shares underlying
the B Options so exercised; ASML does not make any payment
to employees. The terms of the B Options permit employees
to effect a broker-assisted cashless exercise of the B
Options through a broker; in which case, upon mandatory
exercise, the employee receives the EUR 1 gain per option
(and amounts sufficient to repay the loan) from the sale
(through the broker) of shares received by the employee.</TD>
</TR>


<TR valign="bottom"><!-- Blank Space -->
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Accordingly, the exercise of the B Options prior to the
ASML&#146;s share price reaching the Mandatory Exercise Level
is entirely at the discretion and within the control of
the employee, and at no time does ASML assume
responsibility for redemption of the loan or the B
Options. Therefore, ASML believes that the employee
carries all the risks and rewards relating to the B
Options.</TD>
</TR>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
July&nbsp;6, 2007<BR>
Page 4<BR>
&nbsp;
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="11%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">In assessing the classification of the B Options, ASML considered the guidance in
paragraphs 28 through 35 of SFAS&nbsp;123(R) as follows:

</TD>
</TR>
</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="11%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Paragraph&nbsp;29 of SFAS&nbsp;123(R) requires that, unless paragraphs 30 through 35 of SFAS
123(R) require otherwise, an entity shall apply the classification criteria in
paragraphs 8 through 14 of SFAS 150 in determining whether to classify as a
liability a freestanding financial instrument given to an employee in a share-based
payment transaction. ASML believes that the B Options should not be classified as a
liability based on the following assessment of paragraphs 8 through 14 of SFAS 150:
</TD>
</TR>
</TABLE>
</DIV>




<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="14%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The B Options do not represent mandatorily redeemable financial
instruments since the B Options do not embody an unconditional obligation
requiring ASML to redeem the instrument by transferring its assets at a
specified or determinable date (or dates) or upon an event certain to occur;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="14%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The B Options do not embody or represent an obligation for ASML to
repurchase shares; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="14%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The B Options do not embody or represent an obligation for ASML to
issue a variable number of shares.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="11">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Further to the assessment of paragraph 29 of SFAS 123(R) indicated above, ASML
believes that the B Options should not be classified as a liability based on the
following assessment of paragraphs 30 through 35 of SFAS 123(R):
</TD>
</TR>

</TABLE>
</DIV>



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="14%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Paragraph&nbsp;30 of SFAS 123(R):</U> The deferral of the effective
date of certain provisions of SFAS 150 included in FSP FAS 150-3 and referred
to in paragraph 30 of SFAS 123(R) are not relevant to the B Options, since
ASML did not qualify for the deferral provisions of FSP FAS 150-3;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="14%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Paragraph&nbsp;31 of SFAS 123(R):</U> The B Options do not embody
or represent any repurchase feature or cash settlement option which either (i)
permits the employee to avoid the risks and rewards normally associated with
share ownership or (ii)&nbsp;would make it probable that ASML would prevent the
employee from bearing those risks and rewards for a reasonable period of time.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="14%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Paragraph&nbsp;32 of SFAS 123(R):</U> The B Options should not be
classified as liabilities because the underlying shares are not classified as
liabilities and the B Options cannot be required under any circumstances to be
settled by transferring cash or other assets.</TD>
</TR>

</TABLE>
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
July&nbsp;6, 2007<BR>
Page 5<BR>
&nbsp;
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="14%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Paragraph&nbsp;33 of SFAS 123(R):</U> The B Options are not indexed
to a factor in addition to the entity&#146;s share price.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="14%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Paragraph&nbsp;34 of SFAS 123(R):</U> The accounting for the B
Options reflects the substantive terms of the B Options and any related
arrangement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="14%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Paragraph&nbsp;35 of SFAS 123(R):</U> The substantive terms of the
B Options permit employees to effect a broker-assisted cashless exercise of the
B Options through a broker that satisfies the following criteria:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="16%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The cashless exercise requires a valid exercise of the B
Options;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="16%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The employee is the legal owner of the shares subject to
the B Options (even though the employee does not pay the exercise price
before the sale of the shares subject to the B Options).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accordingly, ASML believes that the B Option is properly accounted for as equity and has
accounted for the awards as such.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">* * * *
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please send a copy of any additional correspondence to the undersigned at 40 Bank Street,
Canary Wharf, London E14 5DS, United Kingdom, facsimile 011 44 20 7519 7070. If you would like to
discuss any aspect of the Company&#146;s response, please call me on 011 44 207 519 7171, or in my
absence James McDonald on 011 44 207 519 7183, Peter van den Oord of ASML Holding N.V. on 011 31 40
268 5041 or Alfred Popken of Deloitte &#038; Touche L.L.P. on 212 436 3693.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">Sincerely,

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%"><U>/s/ Richard A. Ely</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">Richard A. Ely

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">cc:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Securities and Exchange Commission</I></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Kristin Lochhead</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Martin James</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>ASML Holding N.V.</I></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Peter Wennink</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Robert Roelofs</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bert Savonije</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Peter van den Oord</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Deloitte Accountants B.V./Deloitte &#038; Touche L.L.P.</I></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jan Bune</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pieter van de Goor</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Alfred Popken</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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