Nokia 2010 Annual Report Download - page 146

method used to derive the actuarial IFRS valuation is based upon available salary information at
the respective year end. Actuarial assumptions including salary increases and inflation have been
determined to arrive at the valuation at the respective year end. Ms. McDowell participates and
Mr. Simonson participated until October 2, 2010 in Nokia’s U.S Retirement Savings and
Investment Plan, as described in “—Actual Executive Compensation for 2010—Pension
Arrangements for the Members of the Nokia Leadership Team (formerly Group Executive Board)”
above. The Company’s contributions to the plan are included under “All Other Compensation
Column” and noted hereafter.
(6)
All other compensation for Mr. Elop in 2010 includes: EUR 2 292 702 one time payment as
compensation for lost income from his prior employer which resulted due to his move to Nokia;
EUR 509 744 onetime payment to reimburse him for fees he was obligated to repay his former
employer; EUR 312 203 income resulting from legal expenses paid by Nokia associated with his
move to Nokia, including tax assistance; EUR 627 for taxable benefit for premiums paid under
supplemental medical and disability insurance, for driver and for mobile phone.
(7)
Mr. Kallasvuo’s proportionate change in the liability related to the individual under the funded
part of the Finnish TyEL pension was negative (see footnote 5 above). In addition, it includes a
negative change in the annual pension liability of EUR 9 590 000, relating to the cancellation of
the early retirement benefit at the age of 60 provided under his service contract, which has been
forfeited upon end of employment. As a result of the cancellation of this early retirement
benefit, Nokia reversed the actuarial liability of EUR 10 154 000.
(8)
All other compensation for Mr. Kallasvuo in 2010 includes: EUR 4 623 750 as severance payment
as describe under his service agreement, see ‘‘—Actual Executive Compensation for 2010—
Service Contracts ‘‘above; EUR 748 000 as compensation for the fair market value of the 100 000
Nokia restricted shares granted to him in 2007, which were to vest on October 1, 2010;
EUR 130 000 for his services as member of the Board or Directors, see ‘‘—Board of Directors—
Remuneration of the Board of Directors in 2010” above; EUR 15 427 for car allowance; EUR 6 088
for driver and for mobile phone; EUR 796 for taxable benefit for premiums paid under
supplemental medical and disability insurance.
(9)
All other compensation for Mr. Ihamuotila in 2010 includes: EUR 7 440 for car allowance;
EUR 1 453 taxable benefit for premiums paid under supplemental medical and disability
insurance and for mobile phone.
(10)
Salaries, benefits and perquisites for Ms. McDowell and Mr. Simonson are paid and denominated
in USD. Amounts were converted to euro using yearend 2010 USD/EUR exchange rate of 1.32
and GPB/EUR rate of 0.85. For year 2009 disclosure, amounts were converted to euro using year
end 2009 USD/EUR exchange rate of 1.43. For year 2008 disclosure, amounts were converted to
euro using yearend 2008 USD/EUR exchange rate of 1.40.
(11)
All other compensation for Ms. McDowell in 2010 includes: EUR 45 951 provided under Nokia’s
international assignment policy in the U.K; EUR 12 935 for car allowance, EUR 12 500 company
contributions to the 401(k) Plan.
(12)
Mr. O
¨ista
¨mo ¨’s and Mr. Savander’s proportionate change in the liability related to the individual
under the funded part of the Finnish TyEL pension was negative (see footnote 5 above).
(13)
All other compensation for Mr. O
¨ista
¨mo ¨in 2010 includes: EUR 16 925 for car allowance;
EUR 1 440 as taxable benefit for premiums paid under supplemental medical and disability
insurance, for mobile phone and driver benefit.
(14)
All other compensation for Mr. Savander in 2010 includes: EUR 22 200 for car allowance; EUR 1
434 as taxable benefit for premiums paid under supplemental medical and disability insurance
and for mobile phone.
(15)
All other compensation for Mr. Simonson in 2010 includes: EUR 55 514 company contributions to
the Restoration & Deferral plan; EUR 12 500 company contributions to the 401(k) plan; EUR 9 906
for car allowance.
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