Nokia 2005 Annual Report Download - page 194

Notes to the Consolidated Financial Statements (Continued)
34. Related party transactions (Continued)
(5) The 2005 fee of Vesa Vainio amounts to a total of EUR 120,000 consisting of a fee of EUR
110,000 for services as a member of the Board and EUR 10,000 for services as a member of
the Audit Committee. As part of the total remuneration, Mr. Vainio has received a total of
3,644 Nokia shares.
(6) The 2005 fee of Arne Wessberg amounts to a total of EUR 120,000 consisting of a fee of EUR
110,000 for services as a member of the Board and EUR 10,000 for services as a member of
the Audit Committee. As part of the total remuneration, Mr. Wessberg has received a total of
3,644 Nokia shares.
(7) The 2003 fee of Robert F.W. van Oordt amounted to a total of EUR 125,000, consisting of a fee
of EUR 100,000 for services as Member of the Board and EUR 25,000 for services as Chairman
of the Audit Committee. As part of the total remuneration, Mr. van Oordt received a total of
3,360 Nokia shares.
*In case a Board member’s gross annual fee does not include any additional annual fees, the
number of shares received as part of gross annual fee for that year is presented in the ‘‘Shares
received’’ column on the table on page F-54.
Retirement benefits of certain Group Executive Board Members
Jorma Ollila and Olli-Pekka Kallasvuo can as part of their service contract retire at the age of 60
with full retirement benefit, should they be employed by Nokia at the time. The full retirement
benefit is calculated as if the executive had continued his service with Nokia through the statutory
retirement age of 65. Mr. Ollila’s service contract will terminate as of June 1, 2006. Following the
current contract, he will not be eligible to receive any additional retirement benefits from Nokia
after that date. Pekka Ala-Pietil¨ a had an equal retirement arrangement during his employment at
Nokia and he will not receive any additional retirement benefits from Nokia after termination of
employment.
Hallstein Moerk, following his arrangement with a previous employer, has a retirement benefit of
65% of his pensionable salary beginning at the age of 62. Early retirement is possible at the age of
55 with reductions in benefits.
Simon Beresford-Wylie participates in the Nokia International Employee Benefit Plan (NIEBP). The
NIEBP is a defined contribution retirement arrangement provided to some Nokia employees on
international assignments. The contributions to NIEBP are funded two-thirds by Nokia and
one-third by the employee. Because Mr. Beresford-Wylie also participates in the Finnish TEL
system, the company contribution to NIEBP is 1.3% of annual earnings.
F-56