Nokia 2012 Annual Report Download - page 269

(1) Approximately 40% of each Board member’s gross annual fee is paid in Nokia shares and the
remaining approximately 60% of the gross annual fee is paid in cash. Further, it is Nokia policy
that the directors retain all company stock received as director compensation until the end of their
board membership, subject to the need to finance any costs relating to the acquisition of the
shares, including taxes.
(2) The 2012 fee paid to Risto Siilasmaa amounted to an annual total of EUR 440 000 for services as
Chairman of the Board. The 2011 and 2010 fees paid to Risto Siilasmaa amounted to an annual
total of EUR 155 000 each year indicated, consisting of a fee of EUR 130 000 for services as a
member of the Board and EUR 25 000 for services as Chairman of the Audit Committee.
(3) The 2011 and 2010 fees paid to Jorma Ollila amounted to an annual total of EUR 440 000 each
year indicated for his services as Chairman of the Board.
(4) The 2012, 2011 and 2010 fees paid to Dame Marjorie Scardino amounted to an annual total of
EUR 150 000 each year indicated for services as Vice Chairman of the Board.
(5) Stephen Elop did not receive remuneration for his services as a member of the Board. This table
does not include remuneration paid to Mr. Elop for services as the President and CEO.
(6) The 2010 fee paid to Lalita D. Gupte amounted to an annual total of EUR 140 000, consisting of a
fee of EUR 130 000 for services as a member of the Board and EUR 10 000 for services as a
member of the Audit Committee.
(7) The 2012 and 2011 fees paid to Henning Kagermann amounted to an annual total of
EUR 155 000 each year indicated, consisting of a fee of EUR 130 000 for services as a member of
the Board and EUR 25 000 for services as Chairman of the Personnel Committee.
(8) Olli-Pekka Kallasvuo left his position on the Nokia Board of Directors in 2010. This table includes
fees paid to Olli-Pekka Kallasvuo for his services as a member of the Board, only.
(9) The 2010 fee paid to Per Karlsson amounted to an annual total of EUR 155 000, consisting of a
fee of EUR 130 000 for services as a member of the Board and EUR 25 000 for services as
Chairman of the Personnel Committee.
(10) The 2012 fee paid to Jouko Karvinen amounted to an annual total of EUR 155 000, consisting of a
fee of EUR 130 000 for services as a member of the Board and EUR 25 000 for service as
Chairman of the Audit Committee. The 2011 fee paid to Jouko Karvinen amounted to an annual
total of EUR 140 000, consisting of a fee of 130 000 for services as a member of the Board and
EUR 10 000 for services as a member of the Audit Committee.
(11) The 2012, 2011 and 2010 fees paid to Isabel Marey-Semper amounted to an annual total of
EUR 140 000 each year indicated, consisting of a fee of EUR 130 000 for services as a member of
the Board and EUR 10 000 for services as a member of the Audit Committee.
(12) The 2012 fee paid to Elizabeth Nelson amounted to an annual total of EUR 140 000, consisting of
a fee of EUR 130 000 for services as a member of the Board and EUR 10 000 for services as a
member of the Audit committee.
Pension arrangements of certain Nokia Leadership Team Members
The members of the Nokia Leadership Team participate in the local retirement programs applicable to
employees in the country where they reside. Executives in Finland, including Mr. Elop, participate in
the Finnish TyEL pension system, which provides for a retirement benefit based on years of service
and earnings according to prescribed statutory rules. Under the Finnish TyEL pension system, base
pay, incentives and other taxable fringe benefits are included in the definition of earnings, although
gains realized from equity are not. The Finnish TyEL pension scheme provides for early retirement
benefits at age 62 with a reduction in the amount of retirement benefits. Standard retirement benefits
are available from age 63 to 68, according to an increasing scale. The Nokia Leadership Team
members in the United States participate in Nokia’s US Retirement Savings and Investment Plan.
Under this 401(k) plan, participants elect to make voluntary pre-tax contributions that are 100%
matched by Nokia up to 8% of eligible earnings. 25% of the employer’s match vests for the participants
during each year of the first four years of their employment. The Nokia Leadership Team members in
F-68