Nokia 2012 Annual Report Download - page 143

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Doctor of Technology (Signal Processing). Master of Science
(Engineering) (Tampere University of Technology).
Executive Vice President, Devices, Nokia 2007-2010.
Executive Vice President and General Manager of Mobile
Phones, Nokia 2005-2007. Senior Vice President, Business
Line Management, Mobile Phones, Nokia 2004-2005. Senior
Vice President, Mobile Phones Business Unit, Nokia Mobile
Phones 2002-2003. Vice President, TDMA/GSM 1900 Product
Line, Nokia Mobile Phones 1999-2002. Vice President, TDMA
Product Line 1997-1999. Various technical and managerial
positions in Nokia Consumer Electronics and Nokia Mobile
Phones 1991-1997.
Member of the Board of Directors of Sanoma Corporation.
Chairman of the Board of Directors of University of Tampere.
Chairman of the Board of The Funding Agency for Technology
and Innovation (TEKES).
6B. Compensation
The following section reports the remuneration of the Board of Directors and of the seven named
executive officers and describes our compensation policies and actual compensation for the Nokia
Leadership Team as well as our use of equity-based incentives.
Board of Directors
The following table sets forth the annual remuneration of the members of the Board of Directors for
service on the Board and its committees, as resolved at the respective Annual General Meetings in
2012, 2011 and 2010.
Position 2012 (EUR) 2011 (EUR) 2010 (EUR)
Chairman ............................. 440000 440000 440000
Vice Chairman ........................ 150000 150000 150000
Member .............................. 130000 130000 130000
Chairman of Audit Committee ............ 25000 25000 25000
Member of Audit Committee ............. 10000 10000 10000
Chairman of Personnel Committee ........ 25000 25000 25000
Total ................................. 1700000
(1) 1 700 000(1) 1 700 000(2)
(1) Our President and CEO, Stephen Elop, did not receive remuneration for his service as a member
of the Board in 2011 and 2012.
(2) The aggregate amount of Board pay also includes the remuneration paid to our former President
and CEO in his capacity as a member of the Board of Directors, but in that capacity only.
It is Nokia’s policy that director remuneration consists of an annual fee only and no fees are paid for
meeting attendance. Approximately 40% of director compensation is paid in the form of Nokia shares
that are purchased from the market. It is also Nokia’s policy that the Board members retain all Nokia
shares received as director compensation until the end of their board membership (except for those
shares needed to offset any costs relating to the acquisition of the shares, including taxes). In addition,
it is Nokia’s policy that non-executive members of the Board do not participate in any of Nokia’s equity
programs and do not receive stock options, performance shares, restricted shares or any other equity-
based or otherwise variable compensation for their duties as Board members. The President and CEO
142