Common use of Merger of Nokia Clause in Contracts

Merger of Nokia. In case of a merger of Nokia into another company (the “Nokia Merger”), the Beneficiary will receive shares of the absorbing entity upon the Option Underlying Shares Exchange and will receive, in cash, the equivalent value of the absorbing entity shares pursuant to the Cash Exchange. The Exchange Ratio will be adjusted as follows: Exchange RatioAdjusted = Exchange Ratio x RatioMerger Assumptions: • RatioMerger = 2 shares of the absorbing company for each Nokia Share • Transfer of 200 Company Shares by the Beneficiary in January 2017 after the Nokia Merger Exchange RatioAdjusted = 0.55 x 2 Exchange RatioAdjusted = 1.1 The number of the absorbing company shares to be received is: 200 x 1.1 = 220

Merger of Nokia. In case of a merger of Nokia into another company (the “Nokia Merger”), the Beneficiary will receive shares of the absorbing entity upon the Option Underlying Performance Shares Exchange and will receive, in cash, the equivalent value of the absorbing entity shares pursuant to the Cash Exchange. The Exchange Ratio will be adjusted as follows: Exchange RatioAdjusted = Exchange Ratio x RatioMerger Assumptions: • RatioMerger = 2 shares of the absorbing company for each Nokia Share • Transfer of 200 Company Shares by the Beneficiary in January 2017 after the Nokia Merger Exchange RatioAdjusted = 0.55 x 2 Exchange RatioAdjusted = 1.1 The number of the absorbing company shares to be received is: 200 x 1.1 = 220