Nokia 2009 Annual Report Download - page 128
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 |
 |
Incentive as a % of Annual Base Salary in 2009
Position
Minimum
Performance
Target
Performance
Maximum
Performance Measurement Criteria
President and CEO ......... 0% 100% 225%
(a) Financial and Business
Objectives
(includes targets
for net sales, operating
profit and operating cash
flow management and key
business goals)
0% 25% 37.5%
(c) Total Shareholder
Return
(1)
(comparison made
with key competitors in the
high technology,
telecommunications and
Internet services industries
over one, three and
fiveyear periods)
0% 25% 37.5%
(d) Strategic Objectives
Total ................... 0% 150% 300%
Group Executive Board ..... 0% 75% 168.75%
(a) Financial Objectives
(includes targets for net
sales, operating profit and
operating cash flow
management); and
(b) Individual Strategic
Objectives
(as described
below)
0% 25% 37.5%
(c) Total Shareholder
Return
(1)(2)
(comparison
made with key competitors
in the high technology,
telecommunications and
Internet services industries
over one, three and
fiveyear periods)
Total ................... 0% 100% 206.25%
(1)
Total shareholder return reflects the change in Nokia’s share price during an established time
period added with the value of dividends per share paid during that period, divided by Nokia’s
share price at the beginning of the period. The calculation is the same also for each company in
the peer group.
(2)
Only some members of the Group Executive Board are eligible for the additional 25% total
shareholder return element.
The shortterm incentive payout is based on performance relative to targets set for each
measurement criteria listed in the table above and includes: (1) a comparison of Nokia’s actual
performance to preestablished targets for net sales, operating profit and operating cash flow
management and key business goals and (2) a comparison of each executive officer’s individual
performance to his/her predefined individual strategic objectives and targets. Individual strategic
objectives include key criteria which are the cornerstone for the success of Nokia’s longterm strategy
and require a discretionary assessment of performance by the Personnel Committee.
126