Nokia 2009 Annual Report Download - page 127
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264
Annual Cash Compensation
Base salaries are targeted at globally competitive market levels.
Shortterm cash incentives are an important element of our variable pay programs and are tied
directly to Nokia’s and the executive’s performance. The shortterm cash incentive opportunity is
expressed as a percentage of the executive officer’s annual base salary. These award opportunities
and measurement criteria are presented in the table below.
Measurement criteria for the shortterm cash incentive plan include those financial objectives that are
considered important measures of Nokia’s success in driving increased shareholder value. Financial
objectives are established that are based on a number of factors and are intended to be stretch
targets that, if achieved, we believe, will result in performance that would exceed that of our key
competitors in the high technology, telecommunications and Internet services industries. The target
setting, as well as the weighting of each measure, also requires the Personnel Committee’s approval.
The following table reflects the measurement criteria that are established for the President and CEO
and members of the Group Executive Board and the relative weighting of each objective for the year
2009.
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