Merit Increase Letter for Martin King from Philip Morris Services S.A.

Contract Categories: Human Resources › Compensation Agreements
Summary

Philip Morris Services S.A. informs Martin King that, following his annual performance review, his salary will increase by 2.42% effective April 1, 2017. His new gross base salary will be CHF 845,004 per year, or CHF 70,417 per month. All other terms of his employment remain unchanged. This letter serves as formal notice of the salary adjustment.

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EX-10.6 4 a01042017_martinxking.htm EXHIBIT 10.6 Exhibit
Exhibit 10.6




PERSONAL AND CONFIDENTIAL


To: Mr. Martin KING                             Lausanne, February 27, 2017

Subject: Merit Increase     


Dear Martin,

Further to your annual performance assessment we confirm that your 2017 merit increase amounts to 2.42%.

As a result of this increase, effective April 1, 2017, the following conditions of your employment have been modified according to the information detailed below:

Gross Base Salary: CHF 845’004.-- annually, CHF 70’417.-- monthly

Comparatio: 94%

All other conditions relating to your employment with Philip Morris Services S.A. remain as stated in your employment contract and in any subsequent amendments.

We would like to take this opportunity to wish you continued success and satisfaction.

 
Yours sincerely,

    

/S/ RALF ZYSK
Ralf Zysk
Vice President Compensation & Benefits
and International Assignments


Avenue de Cour 107, 1001 Lausanne, Switzerland T:+41 (58) 242 00 00, F: +41 (58) 242 01 11