Compensation information for the President and CEO:


EUR	2017	2016	2015
Base salary/fee	1 050 000	1 049 044	1 000 000
Cash incentive payments	997 369	780 357	1 922 195
Share-based payment expenses(1)	2 606 613	5 296 960	4 604 622
Pension expenses	338 787	469 737	491 641
Total	4 992 769	7 596 098	8 018 458

(1)

Represents the expense for all outstanding equity grants recorded during the year.

Total remuneration awarded to the Group Leadership Team for their time as members of the Group Leadership Team:


EURm	2017	2016	2015
Short-term benefits	22	26	9
Post-employment benefits(1)	1	1	1
Share-based payment	7	15	9
Termination benefits(2)	4	1	3
Total	34	43	22

(1)

The members of the Group Leadership Team participate in the local retirement programs applicable to employees in the country where they reside.

(2)Includes both termination payments and payments made under exceptional contractual arrangements for lapsed equity awards.

Board of Directors’ compensation

The annual remuneration paid to the members of the Board of Directors, as decided by the Annual General Meetings in the respective years:


	2017		2016		2015
	Gross annual	Shares	Gross annual	Shares	Gross annual	Shares
	fee(1)	received(2)	fee(1)	received(2)	fee(1)	received(2)
	EUR	number	EUR	number	EUR	number
Risto Siilasmaa, Chair	440 000	30 497	440 000	35 001	440 000	29 339
Olivier Piou, Vice Chair(3)	199 000	12 823	255 082	19 892	–	–
Vivek Badrinath	–	–	175 000	13 921	140 000	9 333
Bruce Brown(4)	209 000	13 169	190 000	15 114	155 000	10 333
Jeanette Horan(5)	175 000	12 129	–	–	–	–
Elisabeth Doherty	–	–	–	–	140 000	9 333
Louis R. Hughes(6)	194 000	12 129	240 410	18 752	–	–
Simon Jiang	–	–	–	–	130 000	8 666
Jouko Karvinen	–	–	–	–	175 000	11 667
Edward Kozel(7)	175 000	12 129	–	–	–	–
Jean C. Monty(8)	174 000	11 090	225 410	17 558	–	–
Elizabeth Nelson(9)	207 000	13 169	190 000	15 114	140 000	9 333
Carla Smits-Nusteling(10)	195 000	12 129	175 000	13 921	–	–
Kari Stadigh(11)	170 000	11 090	160 000	12 727	130 000	8 666
Total	2 138 000		2 050 902		1 450 000

(1) The meeting fees for the term that ended at the close of the Annual General meeting in 2017 were paid in cash in 2017 and are included in the table. The meeting fees for the current term as resolved by the Annual General Meeting in 2017 will be paid in cash in 2018 and are not included in the table.

(2) Approximately 40% of each Board member’s annual compensation is paid in Nokia shares purchased from the market, and the remaining approximately 60% is paid in cash.

(3) Consists of EUR 185 000 for services as the Vice Chair of the Board and meeting fees of EUR 14 000.

(4) Consists of EUR 160 000 for services as a member of the Board and EUR 30 000 for services as a Chair of the Personnel Committee and meeting fees of EUR 19 000.

(5) Consists of EUR 160 000 for services as a member of the Board and EUR 15 000 for services as member of the Audit Committee.

(6) Consists of EUR 160 000 for services as a member of the Board and EUR 15 000 for services as member of the Audit Committee and meeting fees of EUR 19 000.

(7) Consists of EUR 160 000 for services as a member of the Board and EUR 15 000 for services as a member of the Audit Committee.

(8) Consists of EUR 160 000 for services as a member of the Board and meeting fees of EUR 14 000.

(9) Consists of EUR 160 000 for services as a member of the Board and EUR 30 000 for services as a Chair of the Audit Committee and meeting fees of EUR 17 000.

(10) Consists of EUR 160 000 for services as a member of the Board and EUR 15 000 for services as a member of the Audit Committee and meeting fees of EUR 20 000.

(11) Consists of EUR 160 000 for services as a member of the Board and meeting fees of EUR 10 000.