Philip Morris International Merit Increase Letter to Jacek Olczak (2017)

Contract Categories: Human Resources › Compensation Agreements
Summary

Philip Morris International Management SA informs Jacek Olczak of a 2.10% merit-based salary increase following his annual performance review. Effective April 1, 2017, his new gross base salary will be CHF 974,012 per year. All other terms of his employment remain unchanged. This letter serves as formal notice of the salary adjustment.

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EX-10.7 5 a01042017_jacekxolczak.htm EXHIBIT 10.7 Exhibit
Exhibit 10.7




PERSONAL AND CONFIDENTIAL


To: Mr. Jacek OLCZAK                             Lausanne, February 27, 2017

Subject: Merit Increase     


Dear Jacek,

Further to your annual performance assessment we confirm that your 2017 merit increase amounts to 2.10%.

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 974’012.-- annually, CHF 74’924.-- monthly

Comparatio: 96%

All other conditions relating to your employment with Philip Morris International Management SA 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 Rhodanie 50, 1007 Lausanne, Switzerland T:+41 (58) 242 00 00, F: +41 (58) 242 01 11