Philip Morris International Inc. Amended and Restated Automobile Policy (as of October 1, 2019)
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Summary
Philip Morris International Inc. has an automobile policy for key executives, allowing them to use company-owned or leased vehicles for business and personal purposes, or to receive a cash allowance instead. Executives must report any taxable benefits from this policy on their annual tax returns. The policy outlines the terms for vehicle use and the associated tax obligations for eligible executives.
EX-10.20 4 pm-ex1020123119xq4.htm EXHIBIT 10.20 Exhibit
Exhibit 10.20
PHILIP MORRIS INTERNATIONAL INC. AMENDED AND RESTATED
AUTOMOBILE POLICY
(as of October 1, 2019)
The Registrant has a policy under which company owned or leased automobiles are provided to key executives for business use when required and for personal use at other times, or at any executive’s election, a cash allowance is provided instead. Such executives are required to include any taxable benefit under this policy in their annual tax returns.
