Stephen Elop’s Nokia contract rewarded him for the way things played out

Many people in Finland are feeling understandably sore at the sale of Nokia(s nok)’s venerable handset division to Microsoft(s msft), and this won’t help quell the conspiracy theories. Nokia previously said outgoing CEO Stephen Elop had a similar bonus structure to that of his predecessor, but on Tuesday it emerged that Elop’s contract included a “change of control” clause that helped him net $25 million on the way out. There was effectively a built-in incentive for Elop to see the share price fall and then have to sell off the handset business.