Document:

citizens financial 8k 3-29-06 exhibit 1030

    Exhibit
      10.30

     

    SUBJECT
      TO THAT CERTAIN SUBORDINATION AGREEMENT DATED AS OF

    DECEMBER
      19, 2002 FROM BORROWER AND LENDER TO NATIONAL CITY

    BANK
      OF KENTUCKY 

     

    PROMISSORY
      NOTE ($360,000)

     

    $360,000.00

    Louisville,
      Kentucky

    March
      29,
      2006

     

    FOR
      VALUE RECEIVED,
      the
      undersigned, CITIZENS
      FINANCIAL CORPORATION,
      a
      Kentucky corporation, (“Borrower”),
      having an address of Suite 300, The Marketplace, 12910 Shelbyville Road,
      Louisville, Kentucky 40243, hereby promises and agrees to pay to the order
      of
      Darrell R. Wells, (“Lender”),
      having an address of Suite 310, 4310 Brownsboro Road, Louisville, Kentucky
      40207, the aggregate principal sum of THREE
      HUNDRED SIXTY THOUSAND DOLLARS
      ($360,000.00), or so much thereof as may be advanced hereunder, together with
      interest hereon as hereinafter provided, in lawful money of the United States
      of
      America, in the manner set forth herein, on or before June 30, 2007 (the
“Final
      Maturity Date”).
      

     

    The
      principal of this Note shall bear interest on the unpaid balance thereof at
      a
      rate per annum equal to the greater
      of [i]
      six percent (6%) or [ii] one percent (1%) in excess of the Prime Rate at the
      opening of business on the date of this Note. The rate per annum shall be reset
      at the opening of business on the first day of each April, July, October and
      January hereafter (each an “Adjustment
      Date”)
      so
      that for the calendar quarter beginning on that day the rate per annum shall
      equal the greater
      of [i]
      six
      percent (6%) or [ii] one percent (1%) in excess of the Prime Rate at the opening
      of business on that day. The “Prime
      Rate,”
as
      used in this Note, shall mean that rate of interest announced from time to
      time
      by National City Bank, Kentucky (the “Bank”)
      to be
      its prime rate at its principal office in Louisville,
      Kentucky, it being understood and agreed that such rate shall not necessarily
      be
      the lowest rate the Bank then offers to its most creditworthy borrowers. As
      of
      the date of this Note, the Prime Rate of the Bank is seven
      and
      three-quarters percent (7-3/4%),
      and
      accordingly the interest rate per annum on this Note until the first Adjustment
      Date shall be eight and three-quarters percent (8-3/4%). 

     

    All
      interest on this Note shall be computed daily on the basis of the actual number
      of days elapsed over a year assumed to consist of three hundred sixty (360)
      days. 

     

    Principal
      of this Note shall be paid in a single payment on the Final Maturity Date.
      All
      accrued and unpaid interest shall be paid on each Adjustment Date for the
      preceding calendar quarter and also on the Final Maturity Date or any other
      date
      on which the principal balance of this Note is paid in full. 

     

    The
      holder of this Note shall have the right to require repayment in full of this
      Note in whole or in part and all accrued and unpaid interest hereon by giving
      written notice to Borrower at the address first set forth above specifying
      a
      date for repayment that shall be not less than ninety (90) days after the date
      Borrower receives such notice. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Borrower
      reserves the right to repay the principal of this Note in whole or in part
      without penalty or premium at any time; provided, however, that Borrower shall
      have no right to reborrow any amounts so repaid. 

     

    Notwithstanding
      any other provision of this Note, the rights and obligations of Borrower and
      Lender hereunder to demand, pay or receive payments and prepayments of the
      principal hereof, interest hereon, and other sums payable hereunder are subject
      to the terms and conditions of a Subordination Agreement from Borrower and
      Lender to the Bank dated as of December 19, 2002, as it may be amended, modified
      or replaced from time to time. In particular, Borrower’s failure to pay any
      installment of principal of or interest on this Note that it is not permitted
      to
      pay in order to comply with the Subordination Agreement shall not constitute
      a
      default on this Note nor shall it give rise to any obligation to pay any
      increased interest or late payment charges in respect of any such unpaid
      installment until ten (10) days after the Bank notifies Borrower that it may
      pay
      such installment. 

     

    All
      payments of principal and interest and any other sums due under this Note shall
      be made in immediately available funds to Lender at its address set forth above
      in this Note or to such other person or at such other address as may be
      designated in writing by the holder of this Note. All payments on this Note
      shall be applied first to the payment of any expenses or charges payable
      hereunder, and next to accrued interest, and then to the principal balance
      hereof, or in such other order as Lender may elect in its sole discretion.
      

     

    Any
      payment on this Note that is overdue for more than five (5) days from its due
      date shall, if requested by and at the sole option of the holder of this Note,
      in order to compensate the holder for the inconvenience and administrative
      expense incident to such delinquency and not as a penalty, be increased by
      an
      amount equal to five percent (5%) of the overdue payment, unless such increase
      would exceed the maximum increase permitted by law, in which event the overdue
      payment shall be increased by such lesser increment, if any, as would not exceed
      the maximum increase permitted by law. The charging or collection of a late
      charge shall not be deemed a waiver of any of the holder’s other rights and
      remedies hereunder, including, if applicable, the right to exercise the remedies
      of the holder upon a default under this Note as hereinafter provided.

     

    The
      occurrence of any one or more of the following shall constitute a default under
      this Note: [i] Borrower does not pay any installment of principal of, or
      interest on, this Note as and when due or within five (5) days thereafter;
      [ii]
      a proceeding is filed or commenced against Borrower for dissolution or
      liquidation that is not dismissed within sixty (60) days after filing; [iii]
      Borrower becomes insolvent, or a custodian, trustee, liquidator or receiver
      is
      appointed for Borrower or for any of its property, or Borrower makes an
      assignment for the benefit of its creditors, files a petition under bankruptcy,
      insolvency or debtor’s relief law or for any readjustment of indebtedness,
      composition or extension or [iv] any such proceeding is filed against Borrower
      and is not dismissed within sixty (60) days). 

     

    Whenever
      there is a default under this Note, the entire principal balance of and all
      accrued interest on this Note, shall, at the option of Lender, become forthwith
      due and payable, without presentment, notice, protest or demand of any kind
      (all
      of which are expressly waived by

     

    
      
        
        

      

      
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          -

        
          

        

      

      
        
        

      

    

    Borrower).
      Upon any such default, the rate of interest applicable to the entire unpaid
      principal balance of this Note shall, at the sole and exclusive option of the
      holder of this Note, be increased by four percent (4%) per annum, unless the
      resulting rate would exceed the maximum rate permitted by law, in which event
      the rate of interest shall be increased to a rate that shall not exceed such
      maximum rate. 

     

    This
      Note
      is hereby expressly limited so that in no event whatsoever, whether by reason
      of
      acceleration of the maturity hereof or otherwise, shall the amount paid or
      agreed to be paid to the holder of this Note for the use, forbearance or
      retention of money loaned hereunder exceed the maximum amount permissible under
      applicable law. If from any circumstance the holder of this Note shall ever
      receive anything of value deemed by applicable law to be interest in any amount
      that would exceed the highest lawful rate payable hereunder, an amount equal
      to
      any excessive interest shall be applied to the reduction of the principal amount
      owing hereunder and not to the payment of the interest, and if the amount that
      would be excessive interest exceeds the principal balance then owing, such
      excess shall be refunded to the party paying the same. 

     

    Failure
      of the holder of this Note to exercise any of its rights and remedies shall
      not
      constitute a waiver of the right to exercise the same at that or any other
      time.
      All rights and remedies of the holder for default under this Note shall be
      cumulative to the greatest extent permitted by law. Time shall be of the essence
      in the payment of all installments of interest and principal on this Note and
      the performance of Borrower’s other obligations under this Note. 

     

    If
      there
      is any default under this Note, and this Note is placed in the hands of an
      attorney for collection or is collected through any court, including any
      bankruptcy court, Borrower promises to pay to the holder hereof its reasonable
      attorneys’ fees and court costs incurred in collecting or attempting to collect
      or securing or attempting to secure this Note or enforcing the holder’s rights
      in any collateral securing this Note, provided the same is legally allowed
      by
      the laws of the Commonwealth of Kentucky or any state where the collateral
      or
      part thereof is situated. 

     

    If
      any
      provision, or portion thereof, of this Note, or the application thereof to
      any
      persons or circumstances shall to any extent be invalid or unenforceable, the
      remainder of this Note, or the application of such provision, or portion
      thereof, to any other person or circumstances shall not be affected thereby,
      and
      each provision of this Note shall be valid and enforceable to the fullest extent
      permitted by law. 

     

    This
      Note, including matters of construction, validity and performance, and the
      obligations arising hereunder, shall be construed in accordance with and
      otherwise governed in all respects by the laws of the Commonwealth of Kentucky
      applicable to contracts made and performed in such state and any applicable
      law
      of the United States of America. 

     

    Borrower
      and any other party who may become primarily or secondarily liable for any
      of
      the obligations of Borrower hereunder hereby jointly and severally waive
      presentment, demand, notice of dishonor, protest, notice of protest, and
      diligence in collection, and further waive all exemptions to which they may
      now
      or hereafter be entitled under the laws of the Commonwealth of Kentucky or
      any
      other state or of the United States, and further agree that the holder of this
      Note shall have the right without notice, to deal in any way, at any time,
      with
      Borrower, or with

     

    
      
        
        

      

      
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    any
      other
      party who may become primarily or secondarily liable for, or pledge any
      collateral as security for, any of the obligations of Borrower under this Note
      and to grant any extension of time for payment of this Note or any other
      indulgence or forbearance whatsoever, and may release any security for the
      payment of this Note and/or modify the terms of the any other
      documents securing or pertaining to this Note, without in any way affecting
      the
      liability of Borrower, or such other party who may pledge any collateral as
      security for, or become primarily or secondarily liable for, the obligations
      of
      Borrower hereunder and without waiving any rights the holder may have hereunder
      or by virtue of the laws of this state or any other state of the Unites States.
      

     

    Borrower
      hereby consents to the jurisdiction of any state or federal court located within
      the County of Jefferson, Commonwealth of Kentucky, and irrevocably agrees that,
      subject to Lender’s sole and absolute election, any case or proceeding relating
      to Title 11 of the United States Code and any actions relating to the
      indebtedness evidenced hereby shall be litigated in such courts, and Borrower
      waives any objection that it may have based on improper venue or forum non
      conveniens to the conduct of any proceeding in any such court. Nothing contained
      in this paragraph shall affect the right of Lender to bring any action or
      proceeding against Borrower or its property in the courts of any other
      jurisdiction. 

     

    LENDER
      AND BORROWER ACKNOWLEDGE THAT THE TIME AND EXPENSE REQUIRED FOR TRIAL BY JURY
      EXCEED THE TIME AND EXPENSE REQUIRED FOR A BENCH TRIAL AND HEREBY KNOWINGLY
      AND
      VOLUNTARILY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, AND AFTER HAVING
      CONSULTED OR HAVING HAD AMPLE OPPORTUNITY TO CONSULT THEIR RESPECTIVE LEGAL
      COUNSEL CONCERNING THE CONSEQUENCES OF SUCH WAIVER, TRIAL BY JURY IN ANY ACTION
      OR OTHER PROCEEDING BROUGHT TO ENFORCE OR DEFEND AGAINST COLLECTION OF OR
      OTHERWISE IN CONNECTION WITH THIS NOTE OR ANY RELATED DOCUMENTS.

     

    
      	 	 	 
	 	CITIZENS
              FINANCIAL CORPORATION
	 
 	 
 	 
 
	Date: 	By:  	/s/ Len
              E. Schweitzer
	 	
              
Len
              E. Schweitzer
	 	
              Vice
                President, Accounting, and Chief

              Financial Officer

            

    

     

     

    15172293.1

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
      - 4
        -NOKIA                                                                      1 (8)

                                                                     EXHIBIT 4.3

TERMS AND CONDITIONS OF THE NOKIA PERFORMANCE SHARE PLAN 2006

     1. Purpose and Scope of the Plan

                  The purpose of this Plan is to retain Nokia employees on a
                  long-term basis, to promote employee's long-term commitment,
                  and to compensate them for performance measured on a long-term
                  basis.

                  The Plan is tied directly to the performance of Nokia Group.
                  For the purposes of this Plan, the performance is measured
                  through growth and profitability. The compensation to the
                  employees under the Plan becomes payable and the financial
                  benefits of the Plan be materialized only provided that the
                  pre-determined performance level, measured by Average Annual
                  Net Sales Growth and EPS growth, is achieved by the end of the
                  Performance Period.

                  Various different instruments may be used for the Settlement
                  under the Plan, including also Nokia Shares. Settlement by
                  using Nokia Shares is to promote ownership of Nokia Shares by
                  Nokia employees, and to further align the interests of the
                  employees with those of the shareholders.

                  The Plan may result to a grant of a maximum of 32,600,000
                  Nokia Shares. The Personnel Committee determines the grant
                  guidelines under the Plan, as well as approves the grants,
                  within its authorities. Grants may be used to recruit, retain
                  and motivate selected personnel of Nokia Group.

2. Definitions

                  Average Annual Net Sales Growth: The Average Annual Net Sales
                  Growth is an average of the annual net sales growth rates in
                  the consolidated financial accounts for Nokia Group (IFRS)
                  during the Performance Period. The Average Annual Net Sales
                  Growth is one of the two pre-determined financial performance
                  criteria under the Plan.

                  Board: Board of Directors of Nokia Corporation.

                  EPS: Earnings per share (basic, reported) in the consolidated
                  financial accounts for Nokia Group (IFRS). The EPSs relevant
                  for this Plan are that for the fiscal year of 2005 and of
                  2008. EPS growth is one of the two pre-determined financial
                  performance criteria under the Plan.

                  Grant Amount: The number of Performance Shares granted to a
                  Participant. One half of the Grant Amount is the Threshold
                  Number tied to the EPS growth, and the other half is the
                  Threshold Number tied to the Average Annual Net Sales Growth.
                  Grant Amount equals the total of the two Threshold Numbers.

                  Nokia: Nokia Corporation.

<PAGE>

NOKIA                                                                      2 (8)

                  Maximum Number: The number of Performance Shares subject to
                  the Settlement, if the Maximum Performance is achieved. The
                  Maximum Number will be determined separately for both of the
                  performance criteria and it equals four times the Threshold
                  Number of each performance criterion.

                  Maximum Performance: The maximum performance level defined for
                  both performance criteria independently under paragraph 4.2.

                  Participant: Employees of Nokia Group who have received a
                  grant of Performance Shares under the Plan.

                  Performance Shares: The Grant Amount consists of Performance
                  Shares. Each Performance Share includes a right to receive one
                  Share or a cash equivalent upon the Settlement, if the
                  conditions under paragraph 4 are met, and no other
                  restrictions under these Plan Rules are applicable.
                  Performance Shares are Shares after the Settlement.

                  Personnel Committee: Personnel Committee of the Board of
                  Directors of Nokia.

                  Performance Period: Three fiscal years starting on January 1,
                  2006 through December 31, 2008.

                  Plan: Performance Share Plan 2006 of Nokia Corporation.

                  Plan Rules: This document as approved by the Board of
                  Directors.

                  Settlement: Payment of Shares, or the equivalent in cash, to
                  the Participants. Nokia may, at its sole discretion, use for
                  the Settlement one or more of the ways of funding described
                  under paragraph 6, including cash settlement. Depending on the
                  way of funding, the Settlement will consist of a transfer and
                  delivery of a number of Shares to the Participant's
                  book-entry, brokerage or other account, or a transfer and
                  delivery of the cash equivalent to the Participant's cash
                  account.

                  Settlement Date: A banking day in Helsinki, Finland, that is
                  as soon as practicable after the end of the Performance
                  Period, as determined by Nokia. The Settlement Date cannot be
                  earlier than the first banking day immediately following the
                  day of the announcement of Nokia's annual results for the
                  fiscal year 2008.

                  Share/Shares: Nokia ordinary shares with a par value of EUR
                  0.06. What is said about Shares under these Plan Rules, is
                  applicable 'mutatis mutandis' to their cash equivalent.

                  Threshold Number: The number of Performance Shares to be
                  settled, if the Threshold Performance is achieved with respect
                  to at least one of the performance criteria. The Threshold
                  Number equals one half of the Grant

<PAGE>

NOKIA                                                                      3 (8)

                  Amount. One Threshold Number is tied to the EPS growth, and
                  another is tied to the Average Annual Net Sales Growth.

                  Threshold Performance: The minimum performance level resulting
                  in Settlement. Threshold Performance is defined for both of
                  the performance criteria independently.

3. Grant of Performance Shares

                  At grant, each Participant will receive a Grant Amount of
                  Performance Shares.

                  As precondition for a valid grant, the Participant may be
                  required to give Nokia such authorizations and consents, as
                  Nokia deems necessary in order to administer the Plan.

4. Financial Performance Criteria

4.1 General Principles and Frames

                  Measurement of Nokia's performance during the Performance
                  Period will be based on the consolidated financial accounts of
                  Nokia Group (IFRS) as of December 31, 2008, compared to the
                  consolidated financial accounts of Nokia Group (IFRS) for
                  2005.

                  If the Threshold Performance for neither of the two
                  performance criteria is reached, no Settlement will take
                  place.

                  To the extent the Threshold Performance level is achieved or
                  exceeded as to at least one of the performance criteria, the
                  number of Performance Shares to be settled will increase
                  linearly from the Threshold Number up to the Maximum Number.

                  The total amount of Performance Shares to be settled, if
                  applicable, may not exceed four times the Grant Amount.

4.2. Threshold Performance and Maximum Performance

                  The two independent performance criteria are as follows:

                  (a) Average Annual Net Sales Growth during the Performance
                  Period: 5% (threshold) and 20% (maximum); and
                  (b) EPS growth: EPS of EUR 0.96 (threshold) and EUR 1.41
                  (maximum) in 2008.

                  The performance will be measured independently for both of
                  these two performance criteria, which means that the number of
                  Performance Shares subject to the Settlement, if any, is
                  determined independently with respect to

<PAGE>

NOKIA                                                                      4 (8)

                  (a) the part of the Grant Amount tied to the Average Annual
                  Net Sales Growth and (b) with respect to the part of the Grant
                  Amount tied to the EPS growth.

                  The following table summarizes each performance criterion:

<TABLE>
<CAPTION>

-------------------- ---------------------- ---------------------- ----------------- ------------------ --------------------
Financial Accounts    Performance Period    Performance Criterion     Threshold           Maximum       Potential range of
       2005                                                          Performance        Performance         Settlement
-------------------- ---------------------- ---------------------- ----------------- ------------------ --------------------
<S>                    <C>                   <C>                       <C>               <C>             <C>
        EPS                                     EPS for 2008           EUR 0.96          EUR 1.41           Zero to 4 x
                                                                                                         Threshold Number
     EUR 0.83                                                                                             related to this
 (basic, reported)     January 1, 2006 -                                                                    performance
                       December 31, 2008      (basic, reported)                          (or more)           criterion
-------------------- ---------------------- ---------------------- ----------------- ------------------ --------------------
                                             Average Annual Net                                             Zero to 4 x
                                              Sales growth rate                                          Threshold Number
 Annual Net Sales      January 1, 2006 -         during the               5%                20%           related to this
  EUR 34 191 mio       December 31, 2008     Performance Period                          (or more)          performance
    (reported)                                   (reported)                                                  criterion
-------------------- ---------------------- ---------------------- ----------------- ------------------ --------------------
</TABLE>

5. Measurement and Calculation of Grant Payout

                  The measurement of Nokia's performance for the purposes of the
                  Plan shall be made after the end of the Performance Period.
                  Based on this measurement, the number of Performance Shares to
                  be settled as Shares or the equivalent amount of cash shall be
                  calculated.

                  Nokia shall carry out the measurement and calculation in its
                  sole discretion.

                  The calculation of the number of Shares to be settled shall
                  not result in fractional Shares. The number of Shares shall be
                  rounded to the nearest whole Share.

6. Settlement

                  Nokia will arrange the Settlement as soon as practicable after
                  the end of the Performance Period.

                  Nokia may, in its sole discretion, use for the Settlement of
                  the grants one or more of the following: newly issued Shares,
                  Nokia's own existing Shares (treasury Shares), Shares
                  purchased from the open market, or, in lieu of Shares, cash
                  settlement.

<PAGE>

NOKIA                                                                      5 (8)

                  On Settlement Date, subject to the fulfilment of the Plan
                  Rules by the Participant, Nokia will arrange the Settlement,
                  provided that the Participant has performed all the necessary
                  actions to enable Nokia to instruct it.

                  The participants shall not be entitled to any dividend or have
                  any voting rights or any other rights as a shareholder to the
                  Shares until and unless the Shares have been transferred to
                  the Participant on or after the applicable Settlement Date.

7. Changes in employment

                  If the employment of the Participant with Nokia Group
                  terminates prior to the end of the Performance Period by the
                  reason of early retirement, retirement, permanent disability
                  (as defined by Nokia at its sole discretion) or death, the
                  Participant retains the right to the Settlement under the
                  Plan.

                  If the employment of the Participant with Nokia Group
                  terminates prior to the end of the Performance Period for any
                  other reason than those mentioned above, the Participant shall
                  not be entitled to any Settlement under the Plan.

                  In cases of voluntary and/or statutory leave of absence of the
                  Participant, Nokia has the right to defer the end of the
                  Performance Period and the Settlement Date.

8. Prohibited Transactions

                  The Participants are not entitled to enter into any derivative
                  agreement or any other corresponding financial arrangement
                  relating to the Performance Shares or Shares until the Shares
                  have been settled and delivered on the Participant's account.

9. Terms of Employment

                  The grant or Settlement of Performance Shares does not
                  constitute a term or a condition of the Participant's
                  employment relationship with Nokia, nor does it form a part of
                  the Participant's employment contract under applicable local
                  laws. The Performance Shares, Shares or the cash equivalent
                  settled under the Plan do not form a part of the Participant's
                  salary or benefit of any kind.

10. Taxes and other Obligations

                  Pursuant to applicable laws, Nokia is or may be required to
                  withhold taxes, social security charges or fulfil employment
                  related and other obligations upon granting of Performance
                  Shares or when settling them, or when the Shares are disposed
                  of by the Participants. Nokia shall have the right to
                  determine how such collection, withholding or other measures
                  will be arranged or carried out, including but not limited to
                  a Settlement of a net amount remaining after

<PAGE>

NOKIA                                                                      6 (8)

                  fulfilment of such liability or potential sale of the Shares
                  on behalf of the Participants for the fulfilment of such
                  liability.

                  The Participants are personally responsible for any taxes and
                  social security charges associated with the Performance Shares
                  and Shares. This includes responsibility for any and all tax
                  liabilities in multiple countries, if the participant has
                  resided in more than one country during the Performance
                  Period. The Participants are advised to consult their own
                  financial and tax advisers (at their own expense) in
                  connection with the grant of Performance Shares in order to
                  verify their tax position.

                  The Participants are also responsible for any potential
                  charges debited by financial institutions in connection with
                  the Settlement of the Shares or any subsequent transactions
                  related to the Shares.

11. Breach of the Plan Rules

                  The Participant shall comply with the Plan Rules, as well as
                  any instructions given by Nokia regarding the Plan from time
                  to time. If the Participant breaches the Plan Rules and/or any
                  instructions given by Nokia regarding the Plan, Nokia may at
                  its discretion, at any time prior to settlement, rescind the
                  grant.

12. Validity of the Plan

                  The Plan shall become valid and effective upon the approval by
                  the Board of Directors. The Board may at any time amend,
                  modify or terminate the Plan and/or the Plan Rules. The Board
                  may make such a resolution in its absolute discretion at any
                  time, including but not limited to situations where required
                  resolutions by Nokia's Annual General Meeting of Shareholders
                  are not received.

                  Such a resolution by the Board may also, as in each case is
                  determined by the Board, affect the Performance Shares that
                  are then outstanding, but not settled.

13. Administration

                  The Plan shall be administered on behalf of Nokia in
                  accordance with the guidelines approved by the Board or the
                  Personnel Committee, as the case may be. Nokia has the
                  authority to interpret, modify and amend these Plan Rules,
                  approve such other rules and procedures, and take such other
                  measures, as it shall deem necessary or appropriate for the
                  administration of the Plan.

                  Nokia has the right to determine the practical manner of
                  administration and Settlement of the Performance Shares,
                  including but not limited to the acquisition, issuance, sale,
                  and transfer of the Shares to the Participant. Furthermore,
                  Nokia has the right to require from the Participant the
                  submission

<PAGE>

NOKIA                                                                      7 (8)

                  of such information or contribution that is necessary for the
                  administration and Settlement of the grants.

14. Governing Law and Settlement of Disputes

                  The Plan is governed by Finnish law. Disputes arising out of
                  the Plan shall be settled by arbitration in Helsinki, Finland
                  in accordance with the Arbitration Rules of the Finnish
                  Central Chamber of Commerce.

15. Other Provisions

                  Any notices to the Participants relating to this Plan shall be
                  made electronically, in writing, or any other appropriate
                  manner as determined by Nokia.

                  The grant by Nokia to some Participants may be limited and/or
                  subject to additional, specific terms and conditions due to
                  laws and other regulations applicable outside Finland.

                  Nokia has the right to transfer globally within Nokia Group
                  and/or to an agent of Nokia Group any of the personal data
                  required for the administration of the Plan and the Settlement
                  of the grants. The data may be administered and processed
                  either by Nokia or an agent authorized by Nokia in the future.
                  The Participant is entitled to request access to data
                  referring to the Participant's person, held by Nokia or its
                  agent and to request amendment or deletion of such data in
                  accordance with applicable laws, statutes or regulations. In
                  order to exercise these rights, the Participant must contact
                  Nokia Group Legal department in Espoo, Finland.

<PAGE>

               SUPPLEMENT TO THE GRANT OF PERFORMANCE SHARES UNDER
           THE NOKIA PERFORMANCE SHARE PLAN 2006 IN USA AND/OR CANADA

               Amendments to the Nokia Performance Share Plan 2006

              For purposes of Section 409A of the U.S. Internal Revenue Code of
1986, as amended (the "Code"), the Nokia Performance Share Plan 2006 ("Plan") is
amended, effective as of January 26, 2006, by adding the following "Code Section
409A Schedule" to the Plan.

                           "Code Section 409A Schedule

              Notwithstanding anything in the Plan Rules to the contrary,
effective as of January 26, 2006, the Plan Rules are amended as set forth in
this Code Section 409A Schedule in order to avoid adverse or unintended tax
consequences to Participants under Section 409A of the Code, and the applicable
rules and regulations thereunder. The provisions of this Code Section 409A
Schedule shall apply to granted Units that are, or could potentially be, subject
to Section 409A of the Code, and shall supersede the other Plan Rules to the
extent necessary to eliminate inconsistencies between this Code Section 409A
Schedule and such other Plan Rules.

              1. The Settlement Date shall be the first banking day immediately
following the day of the announcement of Nokia's annual results for the fiscal
year 2008, or as soon as practicable thereafter.

              2. In cases of voluntary and/or statutory leave of absence of the
Participant, the length of which exceeds the threshold determined in the
applicable HR policy at the time of grant for the relevant type of leave, the
Settlement Date shall be six months after the first banking day immediately
following the day of the announcement of Nokia's annual results for the fiscal
year 2008, or as soon as practicable thereafter.

              3. If any Plan Rule or grant document contravenes any regulations
or guidance promulgated under Section 409A of the Code or could cause any
granted Units to be subject to taxes, interest or penalties under Section 409A
of the Code, Nokia may, in its sole discretion, modify the Plan Rules or grant
documents to: (i) comply with, or avoid being subject to, Section 409A of the
Code, (ii) avoid the imposition of taxes, interest or penalties under Section
409A of the Code, and (iii) maintain, to the maximum extent practicable, the
original intent of the applicable Plan Rule or provision without contravening
the provisions of Section 409A of the Code."

                                    * * * * *

              Except as set forth herein, the Nokia Performance Share Plan 2006
remains in full force and effect.

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