SEC Contract Filing

Filing Date: 2021-04-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.13
<SEQUENCE>6
<FILENAME>pm-ex1013.htm
<DESCRIPTION>EX-10.13
<TEXT>
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<title>Document</title></head><body><div id="i025c27e82a5749268135c943c804215b_1"></div><div style="min-height:90.7pt;width:100%"><div style="padding-right:-27.05pt;text-align:right"><img alt="image_01.jpg" src="image_01.jpg" style="height:120px;margin-bottom:5pt;vertical-align:text-bottom;width:476px"></div></div><div style="padding-right:1.15pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exhibit 10.13</font></div><div style="padding-right:1.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">PERSONAL AND CONFIDENTIAL</font></div><div style="padding-right:1.15pt;text-align:justify"><font><br></font></div><div style="padding-right:1.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Hand delivery</font></div><div style="padding-right:1.15pt"><font><br></font></div><div style="padding-left:27pt;padding-right:1.15pt;text-align:justify"><font><br></font></div><div style="padding-right:1.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%">To&#58; Frederic de Wilde&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160; Lausanne, June 30, 2015</font></div><div style="padding-right:1.15pt;text-align:justify"><font><br></font></div><div style="padding-right:1.15pt;text-align:justify"><font><br></font></div><div style="padding-right:1.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Dear Frederic,</font><font style="color:#800080;font-family:'Arial Narrow',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:1.55pt;vertical-align:baseline"> </font></div><div style="padding-left:9pt;padding-right:1.15pt;text-align:justify"><font><br></font></div><div style="padding-right:1.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%">We are pleased to confirm your promotion, effective July 1, 2015, to the position of President European Union Region, reporting to Mr. Andre Calantzopoulos, Chief Executive Officer PMI.</font></div><div style="padding-right:1.15pt;text-align:justify"><font><br></font></div><div style="padding-right:1.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Your gross base salary has been increased</font></div><div style="padding-right:1.15pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-right:1.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;from&#160;&#160;&#160;&#160; CHF 805&#8217;012.-- annually&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;CHF 61&#8217;924.-- monthly </font></div><div style="margin-bottom:6pt;padding-right:1.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to &#160;&#160;&#160;&#160; CHF 825&#8217;006.-- annually &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;CHF 63&#8217;462.-- monthly </font></div><div style="margin-bottom:6pt;padding-left:9pt;padding-right:1.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Your grade has been changed and will now be 25</font><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:700;line-height:120%">.</font></div><div style="padding-left:9pt;padding-right:1.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div style="padding-right:1.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Following the change in grade and salary, your new Comparatio will now be 92%. </font></div><div style="padding-right:1.15pt;text-align:justify"><font><br></font></div><div style="padding-right:1.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%">You will continue to be entitled to participate in the PMI Variable Compensation schemes.</font></div><div style="padding-right:1.15pt;text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Incentive Compensation Award Program</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As a grade 25 employee, you will be eligible to participate in the Incentive Compensation (&#8220;IC&#8221;) Award Program, which is administered at the sole discretion of the Compensation and Leadership Development Committee of the Board of Directors pursuant and subject to the terms of the 2012 Performance Incentive Plan (or any similar plan in the future). Each eligible employee has an annual IC award target that assumes a PMI company performance rating and an indiv