Philip Morris Products S.A. Salary Increase Letter to Jacek Olczak (Effective April 1, 2023)

Contract Categories: Human Resources › Compensation Agreements
Summary

Philip Morris Products S.A. confirms to Jacek Olczak that, effective April 1, 2023, his annual base salary will increase to CHF 1,500,000, paid monthly. This is a 7.14% raise. All other terms of his employment remain unchanged. The letter is signed by company representatives and serves as an official notice of the salary adjustment.

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EX-10.1 2 pm-ex101_063023xq2.htm EX-10.1 Document
Exhibit 10.1


PERSONAL AND CONFIDENTIAL



To: Mr. Jacek Olczak                         Lausanne, March 31, 2023



Dear Jacek,

We are pleased to confirm that effective April 1, 2023, your base salary will be increased to
CHF 1’500’000.-- annually, CHF 115’384.62 monthly. This represents a 7.14% increase.

All other conditions relating to your employment with Philip Morris Products S.A., formerly Philip Morris International Management SA, remain as stated in your employment contract and in any subsequent amendments.




Yours sincerely,


PHILIP MORRIS PRODUCTS S.A.




/s/ CONSTANTIN ROMANOV
/s/ RALF ZYSK
Constantin Romanov
Global Head of Total Rewards
Ralf Zysk
Global Head of Labor Relations


Philip Morris Products S.A., Avenue de Rhodanie 50, 1007 Lausanne, Switzerland
T:+41 (58) 242 00 00, F: +41 (58) 242 01 01