Amendment to Employment Agreement between Philip Morris International Management S.A. and Jean-Claude Kunz
This amendment confirms that Jean-Claude Kunz's annual base salary with Philip Morris International Management S.A. is increased by 4% effective April 1, 2009, raising his salary from CHF 1,014,000 to CHF 1,054,560 per year. All other terms of his employment remain unchanged. The letter is signed by the Director of Human Resources and serves as an official update to his employment agreement.
Exhibit 10.24
PRIVATE & CONFIDENTIAL
Jean-Claude Kunz
Lausanne, April 1, 2009
Dear Jean-Claude,
Further to your annual performance assessment and discussion with your supervisor, we are pleased to confirm that effective as of April 1, 2009, your annual base salary is being increased by 4%.
| from | CHF 1,014,000.00 p.a.* | / CHF 78,000.00 p.m.* | ||
| to | CHF 1,054,560.00 p.a. | / CHF 81,120.00 p.m. |
Your new Position in Range as a result of this salary increase is now 34%.
All other conditions relating to your employment with Philip Morris International Management S.A. remain as stated in your letter of employment issued at the time of the engagement and, if applicable, in any subsequent amendments.
We take this opportunity of wishing you continued success and satisfaction.
| Yours sincerely, |
| Peter-Paul Adriaansen Director Human Resources Decision Support & Business Partner Switzerland |
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| * | p.a. = annual |
| * | p.m. = monthly |
