Company: NOKBF
Filing Date: 2025-02-13
Form Type: 6-K
Source: 0001104659-25-012639
Chunk: 13

Company: NOKIA CORP
Filing Date: 2025-02-13
Form: 6-K
Chunk 13
---
 reputational damage, willful breach of internal control procedures, gross misconduct and       
 restatement of financial statement (clawback triggers) with a recoupment period not exceeding three years    
 in total.                                                                                                    
 Service agreement and termination provisions                                                                 
 The terms of the service agreement of the President and CEO shall be specified in writing and approved by    
 the Board of Directors. The terms specify the remuneration elements as well as the payments upon             
 termination of employment. The service agreement of the President and CEO is typically in force for an       
 indefinite period, but it may be in force for a certain fixed period as well.                                
 New hires with an indefinite contract will be appointed under a service agreement that has a notice period   
 of no more than 12 months for both the Company and the individual. In the event of a termination of          
 employment, any payable remuneration is determined in line with legal advice regarding local legislation,    
 country policies, contractual obligations and the rules of the applicable incentive and benefit plans.       
 Payment in lieu of notice will not typically exceed the value of 12 months’ remuneration (including base     
 salary, benefits, short-term incentive and pension contributions, if applicable). The treatment of equity    
 incentive awards may depend on the circumstances of departure. In the event of death, permanent              
 disability and retirement, unvested awards are normally allowed to be retained. These awards will vest       
 either on departure or at normal vesting date, subject to performance (if applicable) and time proration,    
 unless the Board determines otherwise. In all other events, unvested awards normally lapse in full on        
 departure, unless the Board determines otherwise.                                                            
 Change of control arrangements, if any, are based on a double trigger structure, which means that both a     
 specified change of control event and termination of the individual's employment must take place for any     
 change of control-based severance payment to materialize.                                                    
 Approach to remuneration for recruitment and promotions                                                      
 Company policy on recruitment is to offer a remuneration package which is sufficient to attract, retain and  
 motivate the individual with the right skills for the required role. When determining remuneration for a new 
 President and CEO or Deputy CEO, the Board of Directors upon recommendation of the Personnel                 
 Committee will consider the requirements of the role, the needs of the business, the relevant skills and     
 experience of the individual and the relevant external market for talent.                                    
 Where an individual is recruited externally for the role of President and CEO or Deputy CEO,