Nokia 2010 Annual Report Download - page 144

Aggregate Cash Compensation to the Group Executive Board for 2010
(1)
Year
Number of
Members on
December 31
Base
Salaries
Cash
Incentive
Payments
(2)
EUR EUR
2010 .............................................. 9 5552108 3457145
(1)
Includes base salary and cash incentives paid or payable by Nokia for the 2010 fiscal year. The
cash incentives are paid as a percentage of annual base salary based on Nokia’s shortterm cash
incentives. Includes compensation paid to Hallstein Moerk for the period until March 31, 2010,
Richard Simonson until June 30, 2010, OlliPekka Kallasvuo until September 20, 2010, Anssi
Vanjoki until October 12, 2010 and Juha A
¨kra
¨s as from April 1, 2010 and Stephen Elop as from
September 21, 2010.
(2)
Excluding any gains realized upon exercise of stock options, which are described in Item 6E.
“Share Ownership.”
LongTerm EquityBased Incentives Granted in 2010
(1)
Group Executive Board
(3)(4)
Total
Total number
of participants
Performance Shares at Threshold
(2)
........... 485000 3576403 4250
Stock Options ............................ 1320000 6708582 3200
Restricted Shares ......................... 1104000 5801800 430
(1)
The equitybased incentive grants are generally forfeited if the employment relationship
terminates with Nokia prior to vesting. The settlement is conditional upon performance and/or
service conditions, as determined in the relevant plan rules. For a description of our equity plans,
see Note 24 to our consolidated financial statements included in Item 18 of this annual report.
(2)
At maximum performance, the settlement amounts to four times the number at threshold.
(3)
Includes Hallstein Moerk for the period until March 31, 2010, Richard Simonson until June 30,
2010, OlliPekka Kallasvuo until September 20, 2010, Anssi Vanjoki until October 12, 2010 and
Juha A
¨kra
¨s as from April 1, 2010 and Stephen Elop as from September 21, 2010.
(4)
For the Group Executive Board members whose employment terminated during 2010, the Long
Term EquityBased Incentives were forfeited following termination of employment in accordance
with plan rules. Mr. Vanjoki’s termination date under his employment agreement is March 11,
2011, and his equity will be forfeited thereafter. Mr. Moerk retained his vested and unvested
grants upon retirement, in accordance with the equity plans’ provisions.
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