Amendment to Employment Agreement with André Calantzopoulos – Chief Operating Officer Appointment
This letter amends the employment agreement between Philip Morris International Management S.A. and André Calantzopoulos, confirming his appointment as Chief Operating Officer effective April 1, 2008. His annual base salary is increased to CHF 1,320,000, including a merit increase, with the next salary review scheduled for April 1, 2009. All other employment terms remain unchanged. The letter is signed by the Director of HR Decision Support & Business Partner Switzerland and is addressed personally to Mr. Calantzopoulos.
Exhibit 10.23
PERSONAL AND CONFIDENTIAL
| To: André CALANTZOPOULOS | Lausanne, April 4, 2008 |
Dear André,
We are pleased to confirm your appointment, effective as of April 1, 2008, to the position of Chief Operating Officer, reporting to Mr Louis Camilleri, Chairman and Chief Executive Officer, Philip Morris International Inc. Your annual base salary is being increased
| from CHF | 1’250’080.--p.a. | |
| to CHF | 1’320’000.--p.a. |
Your new annual base salary also includes the merit increase.
Your salary Band, which is B, remains at its present level.
Following the change in salary, your new Position in Range will be now 40%.
Please note that your salary will next be reviewed on April 1, 2009.
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, | ||
| /S/ PETER-PAUL ADRIAANSEN | ||
| Peter-Paul Adriaansen | ||
| Director HR Decision Support & Business Partner Switzerland | ||
Copy : L. Camilleri
ref: cc
Philip Morris International Management S.A.
| AVENUE DE RHODANIE 50 - CASE POSTALE 1171 - 1001 LAUSANNE - SWITZERLAND - TELEPHONE : +41 58 242 00 00 - TELEFAX: +41 58 242 01 01 |
www.philipmorrisinternational.com
