SEC Contract Filing

Filing Date: 2021-02-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>6
<FILENAME>ex104king_agreementxrsux20.htm
<DESCRIPTION>EX-10.4
<TEXT>
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<title>Document</title></head><body><div id="ie143193881cf47a4a80c511e3e1d39b7_1"></div><div style="min-height:58.5pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Exhibit 10.4</font></div></div><div style="padding-left:9pt;padding-right:9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PHILIP MORRIS INTERNATIONAL INC.</font></div><div style="padding-left:9pt;padding-right:9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2017 PERFORMANCE INCENTIVE PLAN </font></div><div style="padding-left:9pt;padding-right:9pt;text-align:center"><font><br></font></div><div style="padding-left:9pt;padding-right:9pt;text-align:center"><font><br></font></div><div style="padding-left:9pt;padding-right:9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">RESTRICTED STOCK UNIT AGREEMENT</font></div><div style="padding-left:9pt;padding-right:9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">FOR PHILIP MORRIS INTERNATIONAL INC. COMMON STOCK</font></div><div style="padding-left:9pt;padding-right:9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> (February 4, 2021)</font></div><div style="padding-left:9pt;padding-right:9pt;text-align:justify"><font><br></font></div><div style="padding-left:9pt;padding-right:9pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;PHILIP MORRIS INTERNATIONAL INC. (the &#8220;Company&#8221;), a Virginia corporation, hereby grants to the employee identified in the Award Statement (the &#8220;Employee&#8221;) under the Philip Morris International Inc. 2017 Performance Incentive Plan (the &#8220;Plan&#8221;), a Restricted Stock Unit Award (the &#8220;Award&#8221;) dated February 4, 2021 (the &#8220;Award Date&#8221;) with respect to the number of shares of the Common Stock of the Company (the &#8220;Common Stock&#8221;) set forth in the Award Statement (the &#8220;RSUs&#8221;), all in accordance with and subject to the following terms and conditions&#58;</font></div><div style="padding-left:9pt;padding-right:9pt;text-align:justify"><font><br></font></div><div style="padding-left:9pt;padding-right:9pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;1.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Normal Vesting</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Subject to Section 2 of this Agreement below, the RSUs shall become fully vested on the Vesting Date set forth in the Award Statement (the &#8220;Vesting Date&#8221;), provided that the Employee remains an employee of the PMI Group during the entire period commencing on the Award Date and ending on the Vesting Date, and provided further that the Employee has complied with all applicable provisions of HSR. </font></div><div style="padding-left:9pt;padding-right:9pt;text-align:justify"><font><br></font></div><div style="padding-left:13.5pt;padding-right:9pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;2.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Termination of Employment Before Vesting Date</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. </font></div><div style="padding-left:13.5pt;padding-right:9pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a) &#160;&#160;&#160;&#160;In the event of the termination of the Employee&#8217;s employment with the PMI Group prior to the Vesting Date due to (i) death, Disability, (ii) Normal Retirement,(iii) termination of employment unilaterally by the Company (other than for Cause), as set forth in the agreement with the Employee effective as of June 1, 2020 (the &#8220;Employment Agreement&#8221;), or (iv) early retirement or termination of employment (other than for Cause) in either case by mutual agreement and after the Employee has attained age 58, then the RSUs shall become fully vested on the date of death, Disability, Normal Retirement, or such early retirement or termination of employment or the date specified in such mutual agreement&#59; provided, however, that the event of the termination set forth in item (iii) of this Section 2(a), the vesting would be further subject to the terms of the Employment Agreement. </font></div><div style="padding-left:13.5pt;padding-right:9pt;text-align:justify"><font><br></font></div><div style="padding-left:9pt;padding-right:9pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(b)&#160;&#160;&#160;&#160;Subject