Amendment to Employment Agreement between Philip Morris International Management S.A. and Hermann Waldemer (April 1, 2009)

Contract Categories: Human Resources › Employment Agreements
Summary

Philip Morris International Management S.A. has amended its employment agreement with Hermann Waldemer, effective April 1, 2009, to increase his annual base salary by 4%, from CHF 1,032,500 to CHF 1,073,800. All other terms and conditions of his employment remain unchanged. This amendment follows Waldemer's annual performance review and discussion with his supervisor.

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EX-10.25 4 dex1025.htm AMENDMENT TO EMPLOYMENT AGREEMENT WITH HERMANN WALDEMER Amendment to Employment Agreement with Hermann Waldemer

Exhibit 10.25

PRIVATE & CONFIDENTIAL

Hermann Waldemer

Lausanne, April 1, 2009

Dear Hermann,

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 1,032,500.00 p.a.*        /        CHF 79,423.08 p.m.*
to   CHF 1,073,800.00 p.a.    /        CHF 82,600.00 p.m.

Your new Position in Range as a result of this salary increase is now 19%.

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

 

* p.a. = annual
* p.m. = monthly