Nokia 2008 Annual Report Download - page 214
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31. Related party transactions (Continued)
the Audit Committee. The 2006 fee of Mr. Suila amounted 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.
(10)
Mr. Vainio was a member of the Board of Directors and the Audit Committee until the end of the
Annual General Meeting on May 8, 2008. Mr. Vainio received his fees for services as a member of
the Board and as a member of the Audit Committee, as resolved by the shareholders at the
Annual General Meeting on May 3, 2007, already in 2007 and thus no fees were paid to him for
the services rendered during 2008. The 2007 fee of Mr.Vainio amounted to a total of EUR 140
000 consisting of a fee of EUR 130 000 for services as a member of the Board and EUR 10 000 for
services as a member of the Audit Committee. The 2006 fee of Mr. Vainio amounted 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.
Pension arrangements of certain Group Executive Board Members
OlliPekka Kallasvuo can, as part of his service contract, retire at the age of 60 with full retirement
benefit should he be employed by Nokia at the time. The full retirement benefit is calculated as if
Mr. Kallasvuo had continued his service with Nokia through the retirement age of 65. Hallstein Moerk,
following his arrangement with a previous employer, has also in his current position at Nokia 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 reduced benefits. Simon BeresfordWylie 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 twothirds by Nokia and onethird by the employee. Because Mr. BeresfordWylie
also participates in the Finnish TEL system, the company contribution to NIEBP is 1.3% of annual
earnings.
F70
Notes to the Consolidated Financial Statements (Continued)