Document:

EXHIBIT 4.4

          TERMS AND CONDITIONS OF THE NOKIA RESTRICTED SHARE PLAN 2007

1.    PURPOSE AND SCOPE OF THE PLAN

            The purpose of the Nokia  Restricted  Share Plan 2007 is to recruit,
            retain, reward and motivate selected key talent employees, employees
            with  high  potential,  and  critical  employees.  This Plan is also
            intended  to promote  share  ownership  of these key  employees.  To
            accomplish  these  objectives  Nokia may grant  eligible Nokia Group
            employees Nokia Shares under this Plan.

            The Plan may result to a grant of a maximum of 4 000 000  Restricted
            Shares.  The Board determines the general  guidelines under the Plan
            and   approves   the  grants  to  eligible   employees   within  its
            authorities.  Grants of  Restricted  Shares  under  these  terms and
            conditions  may be made  between  January 1, 2007 and  December  31,
            2007, inclusive.

2.    DEFINITIONS

            BOARD: Board of Directors of Nokia Corporation.

            GRANT  AMOUNT:   The  number  of  Restricted  Shares  granted  to  a
            Participant.

            NOKIA: Nokia Corporation.

            PARTICIPANT:  Employee  of Nokia  Group who has  received a grant of
            Restricted Shares under the Plan.

            PLAN: Restricted Share Plan 2007 of Nokia.

            RESTRICTED  SHARE/SHARES:  The Grant Amount  consists of  Restricted
            Shares.  Each Restricted Share represents a right to receive certain
            number of Shares or its cash equivalent  upon settlement  subject to
            the  fulfillment  of these terms and conditions and provided that no
            other  restrictions   related  to  these  terms  and  conditions  is
            applicable.

            RESTRICTION  PERIOD:  Period after which the Shares shall be settled
            to the Participant.  The Restriction  Period shall be no less than 3
            years from the date when the  Restricted  Shares were granted to the
            Participant.

            SETTLEMENT DATE: A banking day in Helsinki,  Finland falling as soon
            as  practicable  after  the  end  of  the  Restriction   Period,  as
            determined by Nokia.

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            SHARE/SHARES:  Nokia ordinary  shares.  What is said about Shares in
            these terms and conditions,  shall apply (as applicable) to the cash
            equivalent of the Shares used for settlement.

3.    GRANT OF RESTRICTED SHARES

            At grant,  each  Participant is offered a Grant Amount of Restricted
            Shares. Nokia will notify each Participant of the grant.

            As a 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.    RESTRICTION PERIOD

            The Shares shall be settled to the Participant  after the end of the
            Restriction  Period.  The end of the  Restriction  Period  shall  be
            specified to the Participant in the grant communication.

            During the Restriction  Period,  the  Participant  does not have any
            legal  ownership  or any other  rights  relating to the Shares.  The
            Participant 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.

5.    SETTLEMENT

            On the  Settlement  Date Nokia will  complete the  settlement of the
            Shares by transferring the applicable number of Shares or their cash
            equivalent to the Participant's book-entry,  brokerage or other bank
            account, provided that the Participant has complied with these terms
            and  conditions  and performed  all the necessary  actions to enable
            Nokia to instruct the settlement.

            Nokia may, at its sole discretion,  use for the settlement of Shares
            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.

            The  participants  shall not be entitled to any dividend or have any
            voting rights or any other  shareholder  rights until and unless the
            Shares have been transferred to the Participant.

6.    CHANGES IN EMPLOYMENT

            If the  employment of the  Participant  with Nokia Group  terminates
            prior to the end of the  Restriction  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 settlement. In case

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            of death  of the  Participant  prior  to the end of the  Restriction
            Period,  Nokia has the right to settle the Restricted  Shares at the
            Grant Amount prior to the end of the Restriction Period,  within the
            timeframe and in the manner  determined by the Board.  If made, such
            special settlement will constitute full and final settlement of that
            Restricted Share grant.

            If the employment of the Participant  terminates prior to the end of
            the  Restriction  Period by any other  reason  than those  mentioned
            above,  Nokia is entitled to redeem the Restricted  Share grant from
            the Participant without consideration, in which case 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 Restriction
            Period or prorate the settlement of Restricted Shares.

7.    BREACH OF THE TERMS AND CONDITIONS

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

8.    TERMS OF EMPLOYMENT

            The grant or settlement of Restricted  Shares does not  constitute a
            term or a condition of the  Participant's  employment  contract with
            Nokia under applicable local laws. The Restricted Shares do not form
            a part of the Participant's salary or benefit of any kind.

9.    TAXES AND OTHER OBLIGATIONS

            The Participants are personally responsible for all taxes and social
            security charges  associated with the Restricted  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 Restriction  Period. The Participants are advised
            to  consult  their  own  financial  and tax  advisers  (at their own
            expense)  before  accepting  the grant 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 Restricted Shares or any subsequent  transactions  related to
            the Shares.

            Pursuant to applicable laws, Nokia is or may be required or may deem
            appropriate to withhold taxes,  social  security  charges or fulfill
            employment related or other obligations upon the grant or settlement
            of

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            Restricted   Shares,   or  when  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  the  completion  of  such  measures  or  a
            potential sale of the Shares on behalf of the  Participants  for the
            completion of such measures.

10.   VALIDITY OF THESE TERMS AND CONDITIONS

            These terms and conditions shall become valid and effective upon the
            approval by the Board.  The Board may at any time  amend,  modify or
            terminate  these  terms  and  conditions.  The Board may make such a
            resolution in its absolute discretion at any time.

            Such action by the Board may also,  as in each case is determined by
            the  Board  affect  the  Restricted   Share  grants  that  are  then
            outstanding, but not settled.

11.   ADMINISTRATION

            The Plan  shall be  administered  on behalf  of Nokia by the  Board.
            Nokia has the  authority  to interpret  these terms and  conditions,
            approve  such  other  rules  and  procedures  and  take  such  other
            measures,   as  it   deems   necessary   or   appropriate   for  the
            administration  of  the  Plan.  Such  action  may  also  affect  the
            Restricted Share grants that are then outstanding, but not settled.

            Nokia  has  the  right  to  determine   the   practical   manner  of
            administration  and settlement of the Restricted  Shares,  including
            but not limited to the  acquiring,  issuance,  sale, and transfer of
            the Shares or their cash equivalent to the Participant. Furthermore,
            Nokia has the right to require from the  Participant  the submission
            of  such  information  or  contribution  that is  necessary  for the
            administration and settlement of the Restricted Share grants.

12.   GOVERNING LAW

            These terms and  conditions  are governed by Finnish laws.  Disputes
            arising  out of these  terms  and  conditions  shall be  settled  by
            arbitration in Helsinki, Finland, in accordance with the Arbitration
            Rules of the Finnish Central Chamber of Commerce.

13.   PROCESSING OF PERSONAL DATA

            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  Restricted
            Share grants. The personal data may be administered and processed by
            either

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            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.

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               SUPPLEMENT TO THE GRANT OF RESTRICTED SHARES UNDER
                   THE NOKIA RESTRICTED SHARE PLAN 2007 IN USA

               Amendments to the Nokia Restricted Share Plan 2007

            For  purposes of Section 409A of the U.S.  Internal  Revenue Code of
1986, as amended (the "CODE"),  the Nokia Restricted Share Plan 2007 ("PLAN") is
amended, effective as of January 25, 2007, by adding the following "Code Section
409A Schedule" to the Plan.

                          "Code Section 409A Schedule"

            Notwithstanding  anything  in the terms and  conditions  of the Plan
("PLAN RULES") to the contrary, effective as of January 25, 2007, 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 grants that 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. In cases of voluntary  and/or  statutory  leave of absence of the
Participant,  the  length of which  exceeds  the  threshold  determined  for the
relevant type of leave in the applicable HR policy at the time of the leave, the
end of the Restriction Period will be delayed for six months.

            2. If a Participant's  employment terminates prior to the end of the
Restriction  Period by reason of  retirement,  early  retirement,  or  permanent
disability,  the Participant  will retain the right to settlement the at the end
of the  Restriction  Period.  If a  Participant's  employment  terminates due to
death,  Nokia will settle the Restricted Shares at the Grant Amount prior to the
end of the  Restriction  Period,  at the beginning of the next closest  calendar
quarter  following  the  date  on  which  Nokia  HR  has  been  informed  of the
Participant's death, 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
Restricted  Shares 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  Restricted  Share Plan 2007
remains in full force and effect.

                                       6EXHIBIT 4.5

                               Nokia Holding, Inc.
                          Employee Stock Purchase Plan
                           (Restated January 10, 2002)

Nokia Holding, Inc. (the "Company"), a Georgia corporation, does hereby
establish its Employee Stock Purchase Plan as follows:

1.   Purpose of the Plan
     -------------------

     The purpose of this Plan is to provide Eligible Employees in the United
     States who wish to own an interest in Nokia Corporation, the Parent of the
     Company, with a convenient method of doing so. It is believed that
     participation by Eligible Employees in the ownership of the business will
     be to the mutual benefit of both the employees and the Company. It is the
     intention of the Company to offer this as an employee stock purchase plan
     that is nonqualified under Section 423 of the Internal Revenue Code.

2.   Definitions
     -----------

     Account means the funds accumulated with respect to an individual employee
     as a result of deductions from his/her paycheck for the purpose of
     purchasing Shares under this Plan. The funds allocated to an employee's
     account shall remain the property of the respective employee but may be
     commingled with the general funds of the Company.

     Affiliate means any United States corporation that is.part of a controlled
     group of corporations, as that term is defined in Section 1563(a) of the
     Code, with the Company.

     Base Pay means regular straight time earnings, not to include incentives,
     bonuses, commissions, overtime, differentials or other special payments
     except to the extent that the Board specifically includes any such item.

     Board means the Board of Directors of the Company.

     Broker Account means the balance of Shares accumulated with respect to an
     individual employee as a result of share purchases made with the Eligible
     Employee's paycheck deductions. The shares allocated to an employee's
     Broker Account shall remain the property of the respective employee at all
     times.

     Code means the U.S. Internal Revenue Code of 1986, as amended from time to
     time, and the regulations promulgated thereunder.

     Committee means the committee appointed by the Board to administer the
     Plan, if such a committee has been appointed. If the Board does not appoint
     a committee to administer the Plan, the Board shall act as the committee.

     Company means Nokia Holding, Inc., a Georgia corporation.

     ESPP Broker is the stock brokerage or other financial services firm
     designated by the Company to establish a brokerage account in the
     participants' names, purchase Shares on behalf of individual participants
     and undertake disposition of the Shares according to the participants'
     direction.

<PAGE>

     ESPP Record Keeper is the administrator designated by the Company to
     collect Eligible Employee participation elections, instruct payroll
     deductions, instruct the ESPP Broker with regard to purchases and report to
     the participant the number of shares purchased each offering as well as the
     associated taxable income. The ESPP Record Keeper will report taxable wages
     to the Nokia Payroll.

     Shares means American Depositary Shares, representing Nokia Corporation
     Shares.

3.   Eligible Employees
     ------------------

     Any regular, full-time employee of the Company or its Affiliates who is in
     the employ of the Company or its Affiliates in the United States and in the
     Nokia Benefits Center's system at the time enrollment packets are produced
     is eligible to participate in the Plan (hereinafter "Eligible Employee").
     Excluded from the definition of Eligible Employee are the following
     employment categories:
          a)   employees on an international assignment contract outside of the
               United States;
          b)   employees whose work schedule is customarily less than 30 hours
               per week;
          c)   employees whose employment relationship will not be more than six
               months in any calendar year;
          d)   employees who are classified as interns or co-ops; and
          e)   employees on unpaid leave of absence.

     Under no circumstances will individuals classified by the Company or its
     Affiliates as consultants, independent contractors, leased employees,
     individuals providing services through third-party staffing agencies, and
     other individuals in similar categories be considered Eligible Employees
     under this Plan. Furthermore, if a court, regulatory body or administrative
     agency or other entity having jurisdiction later decides that such
     individual is considered an employee of the company or U.S. affiliates,
     he/she will not be eligible to participate in the Plan.

4.   Offerings
     ---------

     There will be two separate consecutive six-month offerings pursuant to the
     Plan each calendar year. The first offering shall commence on August 15,
     2000 and end on February 14, 2001. Thereafter, offerings shall commence on
     each subsequent February 15 and August 15.

     In order to become eligible to purchase Shares, an Eligible Employee must
     actively make an election to participate during the designated open
     enrollment period for the particular offering in which he/she wishes to
     participate. Participation in one offering under the Plan shall neither
     limit, nor require, participation in any other offering.

5.   Price Per Share and Share Purchase Dates
     ----------------------------------------

     The purchase price per Share shall be 85% of the fair market value of a
     Share following the end of the offering, as defined in section 4. Fair
     market value shall mean the average purchase price at the time the ESPP
     Broker transacts the purchase on behalf of the Plan participants. Purchases
     on behalf of the participants will be made on Share Purchase Dates.

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     Share Purchase Dates shall mean the dates in which the ESPP Broker will
     purchase Shares on behalf of Plan participants for each six-month offering.
     For offerings commencing on August 15th and ending on February 14, the
     Broker will purchase Shares in accordance with the following schedule:

          Calendar Month      Share Purchase Dates
          --------------      --------------------

          September           Any day between 22nd and 28th day of the month

          October             Any day between 22nd and 28th day of the month

          November            Any day between 22nd and 28th day of the month

          December            Any day between 22nd and 28th day of the month

          February            Any day between 22nd and 28th day of the month

     For offerings commencing on February 15th and ending on August 14, the
     Broker will purchase Shares on behalf of plan participants in accordance
     with the following schedule:

          Calendar Month      Share Purchase Dates
          --------------      --------------------
          March               Any day between 22nd and 28th day of the month

          April               Any day between 22nd and 28th day of the month

          May                 Any day between 22nd and 28th day of the month

          June                Any day between 22nd and 28th day of the month

          July                Any day between 22nd and 28th day of the month

          August              Any day between 22nd and 28th day of the month

5.   Offering Date
     -------------

     The offering date as used in this Plan shall be the commencement date of
     the offering (August 15 or February 15), if such date is a regular business
     day, or the first regular business day following such commencement date. A
     different date may be set by resolution of the Board.

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6.   Enrollment Period
     -----------------

     The enrollment period as used in this Plan shall be a designated two-week
     period prior to each offering date during which each Eligible Employee may
     elect to participate. Notification will be sent to Eligible Employees prior
     to the Open Enrollment period. An Eligible Employee will be required to
     actively enroll in each offering during the enrollment period to
     participate.

7.   Number of Shares to be Offered
     ------------------------------

     There is no maximum number of Shares to be offered under the Plan. The
     Shares to be purchased by participants under the Plan will be purchased on
     the open market by the ESPP Broker on behalf of the individual Eligible
     Employees.

     The Eligible Employee may elect to have up to a maximum of 10% of base pay
     withheld through payroll deductions towards the purchase of Shares.

8.   Participation
     -------------

     An Eligible Employee may become a participant only by electing to
     participate in the Plan. The Eligible Employee must (a) actively select to
     participate in an offering (b) indicate the amount of Base Pay the Eligible
     Employee wishes to have withheld towards Share purchases and (c) authorize
     payroll deductions for the offering.

     Payroll deductions for a participant shall commence on the first pay date
     after the commencement of the offering and shall end on the last pay date
     of such offering unless earlier terminated by the Eligible Employee as
     provided in section 11.

     Eligible Employees will be required to actively enroll in each offering to
     participate. The Company will not automatically re-enroll an Eligible
     Employee in the next offering or continue payroll deductions following the
     end of each offering.

9.   Payroll Deductions
     ------------------

     If an Eligible Employee elects to participate in the Plan, he/she shall
     elect to have deductions made from his/her Base Pay (after tax) each pay
     date during the offering. The Eligible Employee will receive an enrollment
     statement showing election choices of 1%, 2%, 3%, 4%, 5%, 8%, 7%, 8%, 9% or
     10% of his/her Base Pay. Each election choice will indicate the dollar
     amount of the payroll deduction per pay period. The per pay period dollar
     amount indicated on the Eligible Employee's enrollment statement will be
     the amount of the payroll deduction for each pay period. In the event of an
     error where the employee deduction exceeds 10% of Base Pay, the deduction
     would automatically be reduced to be within the 10% maximum guideline.

     In the event the Eligible Employee moves to an authorized leave of absence
     status in which the employee does not continue to receive a pay check, no
     payroll deduction will occur. The participant will not be allowed to make
     up or be entitled to retroactive deductions upon the participant's return
     to work; however deductions will automatically restart if the participating
     Eligible Employee's return to work is within the same offering.

     A participating Eligible Employee may discontinue his/her participation in
     the Plan as provided in section 11, but no other changes can be made during
     an offering and, specifically, a participant may not alter the rate of
     his/her payroll deductions for that offering.

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     No interest will be paid or credited on any money in the accounts of
     participating Eligible Employees.

11.  Withdrawal
     ----------

     An eligible Employees may elect to stop payroll deductions during an
     offering by requesting a withdrawal from the current offering in accordance
     with procedures established by the Committee administering the Plan, but
     shall not be entitled to receive a refund of his/her account balance and
     shall not be entitled to re-enter that particular offering. Unless the
     participating Eligible Employee's employment has terminated as provided in
     section 18 of this Plan, the employee shall be deemed to be participant
     until the next Share Purchase Date. The accumulated deductions to date will
     be applied towards the purchase of Shares at the next Share Purchase Date.
     The Eligible Employee may re-enter the Plan during the next enrollment
     period. If an employee moves from an eligible status to one of the
     ineligible statuses during an offering period in which he is participating
     in payroll deductions, the status change would be considered an automatic
     withdrawal from participation.

     An employee may petition the Committee for a hardship refund upon
     withdrawal. A hardship event is defined as one of the following events:
          o    Unforeseeable Emergency -- a severe financial hardship resulting
               from sudden loss of property due to casualty that is not
               reimbursed by insurance, or
          o    Total and permanent disability.

12.  Granting of Option
     ------------------

     On the offering date, this Plan will be deemed to have granted to the
     participant an option for as many Shares (full and partial) as he/she will
     be able to purchase with the payroll deductions credited to his/her account
     during his/her participation in that offering. For purposes of this Plan,
     payroll deductions shall be deemed credited to participants' accounts on
     paydates.

13.  Exercise of Option
     ------------------

     Each Eligible Employee who continues to be a participant on a Share
     Purchase Date shall be deemed to have exercised his/her option on such date
     and shall be deemed to have purchased from the open market such number of
     Shares (full and partial) that his/her accumulated payroll deductions (for
     that particular offering) on such date will pay for at the price set forth
     in Section 5.

14.  Employee's Rights as a Shareholder
     ----------------------------------

     No participating Eligible Employee shall possess any right as a shareholder
     with respect to any Shares until the Shares have been purchased at each
     Share Purchase Date in accordance with the section 13 above and registered
     to the individual Eligible Employee's Broker Account.

15.  Evidence of Stock Ownership
     ---------------------------

     The ESPP Record Keeper will direct the ESPP Broker to make the individual
     purchases according to the accumulated deductions credited to the
     individual participants' accounts. The ESPP Broker will send a transaction
     notice to the participant of the number of shares purchased on behalf of
     the participant.

     Promptly following each Share Purchase Date the number of Shares purchased
     on behalf of each participant shall be deposited into a broker account
     established In the participant's name with the ESPP Broker. All fees
     incurred in connection with the establishment of a participant's account
     with

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     the ESPP Broker will be borne by the Company. Each participant will receive
     statements showing the accumulated value of his/her Broker Account.

     The participant shall be free to undertake a disposition of the Shares in
     his/her Broker Account at any time after they have been deposited in the
     participating Eligible Employee's Broker Account by contacting the ESPP
     Broker. Disposition may include, but is not limited to, sale, gift,
     transfer of legal title, transfer to another brokerage account of the
     participant's choosing, and request for stock certificates. Any transaction
     fees associated with disposition following the transfer of Shares to the
     participant's Broker Account are the responsibility of the participant.

16.  Taxation
     --------

     Since the 85% purchase price represents a 15% discount of the fair market
     value and the Plan is nonqualified, the 15% discount is taxable to the
     participant as ordinary income. The 15% discount will be reported as W-2
     earnings and all appropriate taxes will be withheld from the participant's
     paycheck each pay period. Other tax events associated with the disposition
     of Shares are the sole responsibility of the participant and do not need to
     be reported to the Company.

17.  Rights not Transferable
     -----------------------

     No Eligible Employee shall be permitted to sell, assign, transfer, pledge
     or otherwise dispose of or encumber either the payroll deductions credited
     to his/her account or any rights with regard to the exercise of an option
     or to receive Shares under the Plan other than by will or the laws of
     descent and distribution, and such right and interest shall not be liable
     for, or subject to, the debts, contracts, or liabilities of the Eligible
     Employee. If any such action is taken by the Eligible Employee, or any
     claim is asserted by any other party in respect of such right and interest
     whether by garnishment, levy, attachment or otherwise, such action or claim
     will be treated as an election to withdraw from participation in the Plan
     in accordance with section 11.

18.  Termination of Employment
     -------------------------

     Upon termination of employment for any reason whatsoever, including but not
     limited to death or retirement, the cash balance in the account of a
     participating Eligible Employee shall be paid to the employee or his/her
     estate.

     A participant who ends his/her foreign assignment to the United States
     during a Plan offering will be refunded accumulated payroll deductions in
     his/her final pay check. No Share purchases will be made on behalf of
     participants who are not active employees of the Company at the time of
     Share Purchase Dates.

     Certain Foreign Nationals ending an assignment in the United States are not
     allowed, under SEC regulations, to have possession of ADRs (American
     Depositary Receipts) outside of the United States. The Foreign National may
     be required to dispose of his/her Shares in his/her Broker Account prior to
     departing the United States. It is the participant's sole responsibility to
     learn how he/she may be affected and instruct the ESPP Broker accordingly.

19.  Amendment or Discontinuance of the Plan
     ---------------------------------------

     The Plan will become effective on the date of its adoption by the Board.
     The Board shall have the right to amend, modify or terminate the Plan at
     any time without notice, provided that no Eligible Employee's existing
     rights under any offering already commenced under Section 4 may be
     adversely affected thereby.

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<PAGE>

20.  Administration
     --------------

     The Board may delegate administration of the Plan to the Committee and in
     that event the Committee appointed by the Board shall administer the Plan.
     The Committee shall be vested with full authority to make, administer, and
     interpret such rules and regulations as it deems necessary to administer
     the Plan, and any determination, decision, or action of the Committee in
     connection with the construction, interpretation, administration, or
     application of the Plan shall be final, conclusive and binding upon all
     participants and any and all persons claiming under or through any
     participant.

21.  Notices
     -------

     All notices or other communications by a participant to the Company under
     or in connection with the Plan shall be deemed to have been duly given when
     received by the Nokia Americas Region Compensation and Benefits Department
     or when received in the form specified by the Company at the location, or
     by the person, designated by the Company for the receipt thereof.

22.  Termination of the Plan
     -----------------------

     This Plan shall terminate at the earliest of the following:

     (a) The date of the filing of a Statement of Intent to Dissolve (or similar
     document) by the Company or the effective date of a merger or consolidation
     wherein the Company is not to be the surviving corporation, which merger or
     consolidation is not between or among corporations related to the Company.
     Prior to the occurrence of either such events, on such date as the Company
     may determine, the Company may permit a participating Eligible Employee to
     exercise the option to purchase Shares for as many Shares as the balance of
     his/her account will allow at the price set forth in accordance with
     section 5.

     (b) The date the Board acts to terminate the Plan in accordance with
     section 19.

23.  Limitations on Sale of Shares Purchased under the Plan
     ------------------------------------------------------

     The Plan is intended to provide Shares for investment and not for resale.
     The Company does not, however, intend to restrict or influence any Eligible
     Employee in the conduct of his/her own affairs. An Eligible Employee,
     therefore, may sell Shares purchased under the Plan at any time he/she
     chooses, subject to compliance with any applicable Federal or state
     securities laws and in accordance with any trading restrictions or windows
     imposed by the Company or any of its Affiliates. THE ELIGIBLE EMPLOYEE
     ASSUMES THE RISK OF ANY MARKET FLUCTUATIONS IN THE PRICE OF THE STOCK
     following registration of shares to the participant's Broker Account.

24.  Governmental Regulation
     -----------------------

     The Company's obligation to instruct the ESPP Broker to purchase and
     deliver the Shares under this Plan is subject to the approval of any
     governmental authority required in connection with the purchase,
     registration or sale of such Shares.

     Shares  shall not be issued  pursuant to the Plan unless the  issuance  and
     delivery complies with all applicable laws, domestic and foreign, including
     without limitation,  the Securities Act of 1933, as amended.  The rules and
     regulations  thereunder are the  requirement of any stock exchange on which
     the Shares are listed, and shall be subject to the approval of counsel with
     respect to compliance.

                                       7
<PAGE>

25.  No Employment Rights
     --------------------

     The Plan shall not be construed as conferring any rights upon any person
     for a continuance of employment or service, nor shall it interfere with the
     rights of the Company or any Affiliate to terminate the employment or
     service of any person or to take any other action affecting such person.

                                       8

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