Nokia’s Elop to Get $25 Million If Microsoft Deal Done

Stephen Elop, the former Nokia Oyj chief executive officer who is rejoining Microsoft Corp., is set to get more than $25 million if the Finnish company completes the sale of its handset business to the software maker.

Microsoft will pay 70 percent of the projected total amount of about 18.8 million euros ($25.5 million), and Nokia the remainder, according to a proxy filing by Espoo, Finland-based Nokia today. The value of Elop’s reward is estimated using Nokia’s Sept. 6 closing share price and may still change.