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Nokia's Stephen Elop will receive a $25.4 million payout

Nokia and Microsoft will pay Stephen Elop $25.4 million for his help in brokering the acquisition deal (NASDAQ:MSFT, NYSE:NOK)

| Business, Financial & Legal News | Posted: Sep 20, 2013 1:31 am

Nokia's Stephen Elop will receive a very nice paycheck as soon as the acquisition of Nokia is completed by Microsoft. Elop will reportedly cash in to the tune of $25.4 million as payout for stepping down as the CEO when Microsoft announced that it would be buying Nokia.

 

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The pay will include cash and early vesting of stock awards with Nokia only being responsible for 30 percent of the value. Microsoft will be taking care the remaining 70 percent and will see Elop transfer over to Microsoft and head up its Devices and Services business when the deal closes. That is, however, if Elop is not chosen to fill Steve Ballmer's seat when he retires later this year.

NEWS SOURCES:Allthingsd.com

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