Nokia 2004 Annual Report Download - page 90

The compensation, excluding gains realized upon the exercise of stock options and also excluding
grants of Performance Share Units and restricted shares, of our five most highly paid executive
officers for 2004 is detailed in the following table.
Other
Salary Bonus(1) Other Annual Compensation
Name and Principal Position in 2004 Year (EUR) (EUR) Compensation (EUR)
Jorma Ollila(2)
Chairman and Chief Executive Officer . . . 2004 1 475 238 1 936 221 * 150 000
2003 1 400 000 2 253 192 * 150 000
2002 1 386 666 1 384 967 * 130 000
Pekka Ala-Pietil ¨ a
President of Nokia Corporation and
Head of Customer and Market
Operations ........................ 2004 717 000 479 509 * —
2003 711 279 520 143 * —
2002 662 090 271 192 * —
Matti Alahuhta(3)
Chief Strategy Officer ................ 2004 632 000 472 766 * —
2003 626 953 532 138 * —
2002 591 719 297 265 * —
Sari Baldauf(4)
President of Nokia Networks ......... 2004 521 000 571 452 * —
2003 514 943 387 627 * 31 535
2002 476 705 60 875 * —
Olli-Pekka Kallasvuo(5)
President of Mobile Phones ........... 2004 584 000 454 150 * —
2003 575 083 505 724 * —
2002 520 788 285 072 * 42 142
(1) Bonus amounts are based on the performance of the Group and the individual for the fiscal
year and were paid under Nokia’s Short Term Incentive Plan, which is described in the
‘‘Report of the Personnel Committee.’’
(2) ‘‘Other Compensation’’ in 2004 for Mr. Jorma Ollila includes EUR 150,000 for his services as
Chairman of the Board, of which EUR 90,000 was paid in cash and the balance paid in 4 834
Nokia shares.
(3) Dr. Matti Alahuhta ceased employment with us and resigned as member of the Group
Executive Board effective December 31, 2004.
(4) ‘‘Other Compensation’’ in 2003 for Ms. Sari Baldauf represents a payment for the 20 year
anniversary of her employment with Nokia, consistent with a policy for all Finnish-based
employees. Ms. Sari Baldauf ceased employment with us and resigned as member of the
Group Executive Board effective January 31, 2005. In connection with the cease of employment
of Ms. Sari Baldauf, Nokia established a fixed term consultancy relationship with her as of
February 1, 2005 to capture the needs for her services for smooth transfer of duties to her
successor. The term of the consultancy agreement will end by June 30, 2005. The
compensation related to the consultancy will be based on Ms. Baldauf’s base salary for 2004
with a potential addition of a normal management incentive for the first half of 2005.
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