Here's an excellent art history activity for Story of the World, Volume 3, Chapter 1 "A World of Empires -- The Holy Roman Empire."
Print out pages 28-29 of this pdf document.
Go here for a better image of "The Abdication of Charles V" and click "extra large view of the image." You can scroll around to see more detail.
The painting, though not painted at the time of the abdication (it was painted in 1620), is an "Allegory on the Abdication of the Emperor Charles V" and proves to be useful in discussing this historical event.
You can also read about the abdication in this Baldwin Project link.
Charles V (1500-1558) was Holy Roman Emperor, King of Spain, Duke of Burgundy and sovereign of the Netherlands. It was he who united the provinces of the Low Countries under a single crown, with an autonomous status within the German Empire. In 1555 he abdicated and retired to a monastery in Spain.
Habsburgs and the Netherlands
Descended from a German noble family, the Habsburg dynasty occupied the throne of the Holy Roman Empire from the fifteenth to the nineteenth century. The height of Habsburg power was the reign of Charles V (1500-1558). Apart from ruling the Holy Roman Empire, he was also sovereign of the Netherlands and King of Spain (with its colonial empire). After his abdication, these dominions were divided. His brother Ferdinand became Holy Roman Emperor and his son Philip II became King of Spain and sovereign of the Netherlands. The Netherlands had originally passed to the Habsburgs in the fifteenth century when Mary of Burgundy married the Habsburg Maximilian I. The Dutch Revolt in the sixteenth and seventeenth centuries brought an end to Habsburg rule in the Northern Netherlands.