Document:

EX-10.11

 Exhibit 10.11 

[Opower letterhead] 
 August 29, 2012 

Mr. Roderick Morris 
 [address] 

Dear Rod, 
 Congratulations on your promotion!
This letter contains important information regarding your new position. 
 Effective September 1, 2012, the following changes will be
made to your employment terms: 
 Job: Your position title will change from SVP, Consumer Marketing and Operations to SVP,
Marketing and Operations. 
 Salary: Your annualized salary will be increased from the current level of $220,000 to $250,000.

 Stock Options. Subject to the approval of the Company’s Board of Directors, you may be granted an option to purchase
150,000 shares of the Company’s common stock. The option will be subject to the terms and conditions applicable to options granted under the Company’s Stock Plan, as described in that Plan and the applicable stock option agreement. If you
are granted an option to purchase shares of the Company’s common stock, you will vest in 25% of the option shares after 12 months of continuous service, and the balance will vest in monthly installments over the next 36 months of continuous
service, as described in the applicable stock option agreement. The exercise price per share will be equal to the fair market value per share on the date the option is granted, as determined by the Company’s Board of Directors in good faith
compliance with applicable guidance in order to avoid having the option be treated as deferred compensation under Section 409A of the Internal Revenue Code of 1986, as amended. There is no guarantee that the Internal Revenue Service will agree
with this value. You should consult with your own tax advisor concerning the tax risks associated with accepting an option to purchase the Company’s common stock. 

Should you have any questions regarding your new status, please do not hesitate to contact anyone on the HR team. This letter supersedes and
replaces any prior understandings or agreements, whether oral, written or implied, between you and the Company regarding the matters described in this letter. 

To confirm your acceptance of this promotion, please sign and date this letter and return it to me. 

	
	Sincerely,
	
	 /s/ Leah J. Coyne

	 Leah J. Coyne
 Director, Human
Resources

	
	ACCEPTED AND AGREED:
	
	Roderick Morris
	
	 /s/ Roderick Morris

	(Signature)
	
	 8/29/12

	Date

  
 2 

 [Opower letterhead] 

Roderick Morris 
 [address] 

September 21, 2011 
 Dear Roderick: 

As you may be aware, OPOWER, Inc., a Delaware corporation (the “Company”), had previously contracted with TriNet Employer
Group, a professional employer organization (“TriNet”) for purposes of providing certain Company benefits, as well as payroll and other human resource management services. The Company’s contract with TriNet will end on
October 1, 2011. The purpose of this letter is to confirm your continued employment solely through the Company on the following terms and conditions: 

•     Position. Your current position is Senior Vice President of Consumer Marketing &
Operations, located in Arlington, VA and you currently report to Daniel Yates. 

•     Compensation. You currently earn a salary at the rate of $9,166.67 per pay period, which is
equivalent to $220,000.00 per year, less all applicable withholdings required by law, payable on the Company’s regular payroll dates, but not less frequently than monthly. 

•     Employment Relationship. Employment with the Company is for no specific period of time. Your
employment with the Company will be “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations which may have been made to you are
superseded by this offer. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from
time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and the Company’s Chief Executive Officer. 

•     Withholding Taxes. All forms of compensation referred to in this letter are subject to
applicable withholding and payroll taxes. 
 •     Entire Agreement. Where there is conflict with
any prior understandings or agreements, whether oral, written or implied, between you and the Company or between you and TriNet regarding the matters described in this letter, this letter supersedes and replaces such prior understandings or
agreements. Where there are additional terms or conditions of employment within those prior understandings or agreements, whether oral, written or implied, between you and the Company or between you and TriNet regarding the matters described in this
letter, such additional terms or conditions will remain in full force and effect and will be honored by the Company. In addition, your agreement to the terms and conditions set forth in this letter has no effect on the additional obligations
contained in the Confidential Information and Invention Assignment Agreement (“CIIAA”), which is incorporated by reference in this letter, and remains in full force and effect. 

							
	Sincerely,	 		 	ACCEPTED AND AGREED:
				
	 /s/ Leah J. Coyne
	 		 	By:	 	Roderick Morris
	 Leah J. Coyne
 Director of Human
Resources
	 		 	  
 /s/ Roderick
Morris

		 		 	
		 		 	 9/28/11

		 		 	Date

  
 2EX-4.1

 Exhibit 4.1 
  

REGISTERED 
 No. I- 

PHILIP MORRIS INTERNATIONAL INC. 
  

 

					
		 	1.875% NOTE DUE 2021	  	 PRINCIPAL AMOUNT
 €

CUSIP NO. 718172 BG3
 ISIN NO.
XS1040104231

  
 THIS NOTE IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE EUROCLEAR SYSTEM OR BY CLEARSTREAM BANKING, SOCIÉTÉ ANONYME (EACH, A “DEPOSITARY”) TO A NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A
NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF
HSBC ISSUER SERVICES COMMON DEPOSITARY NOMINEE (UK) LIMITED OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO HSBC BANK USA, NATIONAL ASSOCIATION OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, HSBC ISSUER SERVICES COMMON DEPOSITARY NOMINEE
(UK) LIMITED, HAS AN INTEREST HEREIN. 
 PHILIP MORRIS INTERNATIONAL INC., a Virginia corporation (hereinafter called the
“Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to HSBC Issuer Services Common Depositary Nominee (UK) Limited or registered assigns, the
principal sum of €              on March 3, 2021, and to pay interest thereon from March 3, 2014 or from the most recent Interest Payment Date to which interest has been
paid or duly provided for, annually in arrears on March 3, in each year, commencing March 3, 2015, at the rate of 1.875% per annum until the principal hereof is paid or made available for payment. 

 

 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be February 15 (whether
or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may be paid to the
Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee for the Notes, notice whereof shall be given
to Holders of Notes not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such
notice as may be required by such exchange, all as more fully provided in said Indenture. 
 Interest on this Note will be calculated on
the basis of the actual number of days in the period for which interest is being calculated and the actual number of days from and including the last date on which interest was paid on the Note (or March 3, 2014 if no interest has been paid on
this Note), to but excluding the next scheduled Interest Payment Date. 
 Payment of the principal of (and premium, if any) and interest on
this Note will be made at the office or agency of the Company maintained for that purpose in the City of London or the Borough of Manhattan, The City of New York, in such coin or currency of the member states of the European Monetary Union that have
adopted or that adopt the single currency in accordance with the treaty establishing the European Community, as amended by the Treaty on European Union as at the time of payment shall be legal tender for the payment of public and private debts;
provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear on the Securities Register or by wire transfer at such
place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least 15 days prior to the date for payment by the person entitled thereto. All payments of principal, premium, if any, and
interest in respect of this Note will be made by the Company in immediately available funds. 
 Additional provisions of this Note are
contained on the reverse hereof, and such provisions shall have the same effect as though fully set forth in this place. 
 Unless the
certificate of authentication hereon has been executed by or on behalf of the Trustee for the Notes by manual signature, this Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 

 

 IN WITNESS WHEREOF, PHILIP MORRIS INTERNATIONAL INC. has caused this instrument to be duly
executed. 
  
  
  

					
	Dated:   March 3, 2014
	
	PHILIP MORRIS INTERNATIONAL INC.
			
	By:	 	  
	 	

 
					
	Name:	 	Peter Luongo	 	
	Title:	 	Vice President Treasury and Planning
		
		 	
	
	Attest:

 
					
			
	By:	 	  
	 	

 
					
	Name:	 	Markus Mueller	 	
	Title:	 	Assistant General Counsel and
		 	Assistant Corporate Secretary

  

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein described in the within-mentioned Indenture. 

 
  

							
	HSBC BANK USA, NATIONAL ASSOCIATION,
	as Trustee	 		 	
				
	By:	 	  
	 		 	
		 	Authorized Officer	 		 	

  
 Global Note due 2021 

 (Reverse of Note) 

PHILIP MORRIS INTERNATIONAL INC. 

This Note is one of a duly authorized issue of debentures, notes or other evidences of indebtedness (hereinafter called the
“Securities”) of the Company of the series hereinafter specified, which series is limited in aggregate principal amount to €750,000,000 (except as provided in the Indenture hereinafter mentioned), all such Securities issued and to be
issued under an Indenture dated as of April 25, 2008 between the Company and HSBC Bank USA, National Association, as Trustee (herein called the “Indenture”), to which Indenture and all other indentures supplemental thereto reference
is hereby made for a statement of the rights and limitations of rights thereunder of the Holders of the Securities and of the rights, obligations, duties and immunities of the Trustee for each series of Securities and of the Company, and the terms
upon which the Securities are and are to be authenticated and delivered. As provided in the Indenture, the Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at
different times, may bear interest, if any, at different rates, may be subject to different redemption provisions, if any, may be subject to different sinking, purchase or analogous funds, if any, may be subject to different covenants and Events of
Default and may otherwise vary as in the Indenture provided or permitted. This Note is one of a series of the Securities designated therein as 1.875% Notes due 2021 (the “Notes”). 

Principal and interest payments in respect of the Notes are payable by the Company in Euro. If, however, the Euro is unavailable to the
Company due to the imposition of exchange controls or other circumstances beyond the Company’s control or if the Euro is no longer being used by the then member states of the European Monetary Union that have adopted the Euro as their currency
or for the settlement of transactions by public institutions of or within the international banking community, then all payments in respect of the Notes will be made in Dollars until the Euro is again available to the Company or so used. The
equivalent Dollar amount of the amount payable on any date in Euro will be calculated by the Currency Determination Agent designated by the Company at the rate mandated by the U.S. Federal Reserve Board as of the close of business on the second
Business Day prior to the relevant payment date or, in the event the U.S. Federal Reserve Board has not mandated a rate of conversion, on the basis of the most recent Euro/Dollar exchange rate available on or prior to the second Business Day prior
to the relevant payment date, as determined by the Company in the Company’s sole discretion. 
 So long as the Notes of this series
are in the form of Global Securities only, all Notes of this series will collectively be evidenced by the Global Security of this series registered in the name of HSBC Issuer Services Common Depositary Nominee (UK) Limited (the “Global
Note”). 
 Section 1010 of the Indenture shall be applicable to the Notes, except that (i) the term “Holder,” when
used in Section 1010 of the Indenture, shall mean the beneficial owner of a Note or any person holding on behalf or for the account of the beneficial owner of a Note; (ii) the following language shall replace subsection (k) to
Section 1010 of the Indenture “any tax, assessment or other governmental charge imposed pursuant to the provisions of Sections 1471 through 1474 of the Code” and (iii) the following language shall be included as subsection
(l) to 

 
Section 1010 of the Indenture “any combination of items (a), (b), (c), (d), (e), (f), (g), (h), (i), (j) and (k).” 

The Company may redeem the Notes prior to maturity in whole, but not in part, on not more than 60 days’ notice and not less than 30
days’ notice at a redemption price equal to the principal amount of such Notes plus any accrued interest and additional amounts to the date fixed for redemption if: 
  

	 	—	 	as a result of a change in or amendment to the tax laws, regulations or rulings of the United States or any political subdivision or taxing authority of or in the United States or any change in official position
regarding the application or interpretation of such laws, regulations or rulings (including a holding by a court of competent jurisdiction in the United States) that is announced or becomes effective on or after March 3, 2014, the Company has
or will become obligated to pay additional amounts with respect to the Notes as described in Section 1010 of the Indenture, or 

  

	 	—	 	on or after March 3, 2014, any action is taken by a taxing authority of, or any decision is rendered by a court of competent jurisdiction in, the United States or any political subdivision or taxing authority of or
in the United States, including any of those actions specified in the bullet point above, whether or not such action is taken or decision is rendered with respect to the Company, or any change, amendment, application or interpretation is officially
proposed, which, in any such case, in the written opinion of independent legal counsel of recognized standing, will result in a material probability that the Company will become obligated to pay additional amounts with respect to the Notes,

 and the Company in its business judgment determines that such obligations cannot be avoided by the use of reasonable measures available to
the Company. 
 If the Company exercises its option to redeem the Notes, the Company will deliver to the Trustee a certificate signed by an
authorized officer stating that it is entitled to redeem the Notes and the written opinion of independent legal counsel if required. 
 The
Indenture contains provisions for defeasance at any time of the entire principal of all the Securities of any series upon compliance by the Company with certain conditions set forth therein. 

If an Event of Default (other than an Event of Default described in Section 501(4) or 501(5) of the Indenture) with respect to the Notes
shall occur and be continuing, then either the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities of all series then Outstanding (or, if such default is not applicable to all series of the Securities, the Holders
of at least 25% in principal amount of the then Outstanding Securities of all series to which it is applicable) (in each case voting as a single class) may declare the entire principal amount of the Securities of all series so affected due and
payable in the manner and with effect provided in the Indenture. If an Event of Default specified in Section 501(4) or 501(5) occurs with respect to the Company, all of the unpaid principal amount and accrued interest then

 
Outstanding shall ipso facto become and be immediately due and payable in the manner with the effect provided in the Indenture without any declaration or other act by the Trustee or any
Holder. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities under the Indenture at any time by the Company with the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of all
series of Securities affected thereby (voting as a single class). The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Securities of all series affected thereby at the time
Outstanding (voting as a single class) to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences to the affected series. Any such consent or waiver by the Holder
of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the transfer hereof or in exchange or in lieu hereof whether or not notation of such consent or waiver is made upon
this Note. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Note at the times, place and rate, and in the coin or currency, herein and in the Indenture prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, this Note is transferable on the Security Register of the
Company, upon surrender of this Note for registration of transfer at the office or agency of the Company to be maintained for that purpose in the Borough of Manhattan, The City of New York, or at any other office or agency of the Company maintained
for that purpose, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or his or her attorney duly authorized in writing, and thereupon
one or more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Notes are issuable only in registered form in denominations of €100,000 and any integral multiple of €1,000 in excess thereof.
As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal amount of Notes of a like tenor and of a different authorized denomination, as requested by the Holder
surrendering the same. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require
payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 The Company, the Trustee for
the Notes and any agent of the Company or such Trustee may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes, whether or not this Note be
overdue, and neither the Company, such Trustee nor any such agent shall be affected by notice 

 
to the contrary. 
 Certain of the Company’s obligations under the Indenture
with respect to Notes may be terminated if the Company irrevocably deposits with the Trustee money or Government Obligations sufficient to pay and discharge the entire indebtedness on all Notes, as provided in the Indenture. 

This Note shall for all purposes be governed by, and construed in accordance with, the laws of the State of New York. 

For purposes of the Notes, the term “Business Day” means any day other than (1) a Saturday or Sunday or a day on which
commercial banks in the City of New York or the City of London are authorized or required by law, regulation or executive order to close and (2) a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET or
TARGET2) system is not open. 
 Certain terms used in this Note which are defined in the Indenture have the meanings set forth therein.

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

PLEASE INSERT SOCIAL SECURITY NUMBER OR 
 OTHER IDENTIFYING
NUMBER OF ASSIGNEE 
  

	
	  
 (Name and address of Assignee,
including zip code, must be printed or typewritten)

	
	  

	  
  

	the within Note, and all rights thereunder, hereby irrevocably, constituting and appointing
	
	
	  

	  
  

	 Attorney to transfer the said Note on the books of Philip Morris International Inc. with full power of substitution in the premises.

 
  
 Dated:
                    

 

							
	 	 	 	 	 	  	  

		 		 	NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular, without alteration or enlargement or any change whatsoever.

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