Philip Morris International Inc. Amended and Restated Automobile Policy (as of October 1, 2019)
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Summary
Philip Morris International Inc. has a policy that provides key executives with company-owned or leased cars for business and personal use, or, if they choose, a cash allowance or travel pass instead. Executives must report any taxable benefits from this policy on their annual tax returns. The policy outlines the options available and the tax obligations for participating executives.
EX-10.16 4 pm-ex1016_123120xq4.htm EX-10.16 Document
Exhibit 10.16
PHILIP MORRIS INTERNATIONAL INC. AMENDED AND RESTATED
AUTOMOBILE POLICY
(as of October 1, 2019)
The Registrant has a policy under which company owned or leased automobiles are provided to key executives for business use when required and for personal use at other times, or at any executive’s election, a cash allowance or travel pass is provided instead. Such executives are required to include any taxable benefit under this policy in their annual tax returns.
