Exhibit 10.29
 
 Mr. Erwin Mayr
    
    September 17, 2009
   1.
    
    STARTING DATE AND DURATIONThe effective date of your assignment to expected to be October 1, 2009, subject to the
aforementioned requirements.The term of this assignment is expected to be approximately two years. Changes from this
will be mutually discussed and agreed.Until completion of the family move (as per § 5.b.i. below), you will spend your time
approximately 50/50% split between Atlanta and Zurich or other
business-related locations,
coordinated in close cooperation with Phil Martens. During this transition time you can
also keep your office and company car in Zurich (in addition to the main office in
Atlanta).2.
    
    STATUS OF EMPLOYMENTYour status will be that of an expatriate in Atlanta from
Zurich, Switzerland.3.
    
    COMPENSATIONYour base compensation and benefits package is designed to provide you with a level of
income and benefits which are similar to those that you would have
received in Zurich in a
similar position. Compensation and benefit plans are subject to
change from time to time at
the Companys discretion.
 a.
    
    Method of PaymentYou will be paid on the Swiss payroll. The entire amount of net income (gross compensation
less source deductions) will be disbursed and deposited to you in
Swiss Francs.b.
    
    Position GradeYour position will be administered at a salary band Executive B.
 Novelis, Inc
Lenox Building
3399 Peachtree Road, NE 1500, Atlanta, Georgia 30326
Tel.: 404 814 4243
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c.
    
    Base SalaryYour starting base salary will be CHF 462,000. Your salary will be subject to review periodically
in accordance with Novelis salary administration practice in Atlanta, We will also review your
salary each January 1 and July 1 to determine if the U.S. Dollar has strengthened by 10% or more
relative to the Swiss Franc from October 1, 2009. If the U.S. dollar has strengthened by more than
10% we will adjust your base salary upwards by the amount of the change. Going forward from the
time of the first adjustment, we will adjust [up or down] each review period (January 1 and July 1)
comparing the average of the just completed period to the average of the previous period. We will
not, however, adjust your base salary below the stated level above and as increased by any annual
salary increases going forward. Your next salary review will be In July 2010.
 d.
    
    Expatriate PremiumYou will receive an expatriate premium of 10% of your base
salary, net after tax.
This annual amount, CHF 46,200, will be included with your monthly payroll.e.
    
    Incentive Plan
 i.
    
    Annual Incentive Plan (AIP)You will participate in the Annual Incentive Plan (AIP) of
Novelis Inc. The Target Bonus
opportunity for your new assignment is 50%. For FY2010 you will
participate in the AIP for
six months in your current role and for six months in your new role.ii.
    
    Long Term Incentive Plan (LTIP)You are eligible to participate in the Long Term Incentive
Plan (LTIP) of Novelis
Corporation. For FY2010 your LTIP opportunity is $180,000. The target LTIP opportunity for
Band Executive B for the FY2011 LTIP Plan is estimated to be $300,000.
 f.
    
    Income Tax Liability/Tax EqualizationAs a Swiss citizen working in the U.S., you may be subject to income taxes in both the U.S.
and Switzerland. You will be tax equalized to the Swiss level of taxation. This means that
you will not pay more taxes than you would pay if your employment related income (base
salary, annual incentive compensation, long-term incentive
compensation and any taxable
allowances such as company car, temporary accommodation and annual leave) was taxable only
in Switzerland. If you pay higher taxes in the U.S., then Novelis will pay the difference.
The amount will be determined in due time. Additionally, if you hold investments in
 Novelis, Inc
Lenox Building
3399 Peachtree Road, NE Suite 1500, Atlanta, Georgia 30326
Tel.: 404 814 4243
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Switzerland that are also taxable in the U.S., your tax liability will be equalized to the
Swiss level of taxation.
 4.
    
    BENEFITS
 a.
    
    Retirement BaseSwitzerland will continue to be your retirement base.b.
    
    Pension PlanYou will remain in the Swiss pension plans [PK and EK] and continue to receive
credit and service.c.
    
    Social SecurityYou will continue to participate in the Swiss social security
system, and if required to
also participate in the U.S. social security system, the cost of participation in the U.S.
will be a Novelis expensed.
    
    Medical / Dental PlansYou and your family will be covered for medical and dental
insurance under Novelis Plan
for Expatriates. Details regarding claims for reimbursement may be obtained from your host
country contact. In addition, you will have available to you the services of S.O.S.
international, an independent contract firm that provides emergency medical advice,
referral and if necessary, medical evacuation. A detailed packet covering these services
will be provided to you.e.
    
    Life insuranceYou will participate in the Novelis Life Insurance Plan of Novelis Europe during
this assignment.f.
    
    Business Travel Accident InsuranceYou will be covered by the Novelis Business Travel Accident Insurance Plan of
Novelis Inc. while on this assignment.g.
    
    Long Term DisabilityYou will be covered under the Novelis Long-Term Disability
Plan of Novelis
Europe during this assignment.
 Novelis, Inc
Lenox Building
3399 Peachtree Road, NE Suite 1500, Atlanta, Georgia 30326
Tel.: 404 814 4243
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5.
    
    RELOCATION
 a.
    
    Final Trip TravelBusiness Class travel for you and your family via the most
direct route from Zurich, Switzerland to
Atlanta as reasonable expenses arising from travel will be for Novelis account.b.
    
    Temporary Accommodation
 I.
    
    On arrivalUpon your arrival in Atlanta, and for the period until your
family arrives in Atlanta [a period of
up to approximately six months, depending on suitable and possible school transfer for the 3
children], you may reside in appropriate temporary accommodations, The cost of this temporary
accommodation will be for Novelis account.
 c.
    
    Shipping & Storing of GoodsNovelis will be responsible for the cost of shipping and/or storing your household goods and
personal affects, as well as for the cost of a small air shipment of personal affects and soft
furnishings from Zurich, Switzerland to Atlanta.d.
    
    Settling-In FormalitiesAs part of your relocation to Atlanta, you will be provided with assistance in locating housing and
completing administrative formalities, such as obtaining a drivers license and setting up a bank
account. The Atlanta HR Department in will provide assistance to you with these matters.e.
    
    Relocation AllowanceYou will be entitled to a relocation allowance of 1.5 months base salary. net of tax. Any taxes
assessed on this payment will be for Novelis account. This allowance is intended to assist with
miscellaneous costs incurred in settling in. This payment will be made by Novelis Inc.f.
    
    House HuntingThe company will provide one round trip for your spouse in business class, prior to the final trip,
via the most direct route from Zurich, Switzerland to Atlanta. Costs associated with this trip will
be for Novelis account.
 Novelis, Inc
Lenox Building
3399 Peachtree Road, NE Suite 1500, Atlanta, Georgia 30326
Tel.: 404 814 4243
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6.
    
    HOUSING
 a.
    
    ZurichYou will be responsible for maintaining your home in Zurich while on this
assignment.b.
    
    AtlantaAs long as you are on assignment in Atlanta, you will be provided with rental accommodations up to
$8,000 per month, for which the expense will be paid by the company. You will not be responsible
for any taxes on this amount. Additional property expense will be for your account. This allowance
will be eliminated should you decide not to continue to maintain a
home in Zurich.
 7.
    
    AUTOMOBILE
 a.
    
    ZurichTo assist you in selling your car(s) in Zurich, Novelis will establish a guaranteed price for your
personal vehicle(s) based on the market resale value, provided your car(s) are less than eight
years old, Upon submission of appropriate documents, you will be reimbursed for the shortfall, if
any, between the Guaranteed Sale Price and the actual sale price, up to a maximum of 15% of the
Guaranteed Sale price.b.
    
    AtlantaYou will be eligible to participate in the company leased vehicle program. The
company will pay the lease cost for a vehicle of your choosing to a maximum of $37,000 capitalized
cost. You may select a higher priced vehicle but the excess will be paid by you through on-going
payroll deductions. Fuel, maintenance and insurance expenses are paid by the company. In accordance
with IRS regulations, personal use of a company provided vehicle, including fuel, is a taxable
benefit to you. The total of your self contribution, if any, and the
annual tax in the U.S. will
not exceed the amount of self contribution and tax for a similar
vehicle in Switzerland. Any
additional tax in the U.S. would be for Novelis account.
 8.
    
    LANGUAGE & CROSS CULTURAL TRAININGArrangements will be made for your family to undertake language lessons both prior to the move to
Atlanta and after arriving in Atlanta. The cost will be for
Novelis account.
 Novelis, Inc
Lenox Building
3399 Peachtree Road, NE Suite 1500, Atlanta, Georgia 30326
Tel.: 404 814 4243
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9.
    
    LEAVES
 a.
    
    VacationYour vacation entitlement during this assignment will be governed by the Swiss
Novelis AG policy. You will be entitled to 27 vacation days per year.b.
    
    Home LeaveZurich, Switzerland has been designated as your home leave base. You and your family [your spouse
and children] will be entitled to round-trip business class airfare for travel between Atlanta and
Zurich, Switzerland or Munich, Germany by the most cost-effective route. Such trips are to be
scheduled no more than twice per year throughout the duration of this assignment. The cost of the
airfare will be for Novelis account. All other incidental expenses incurred during such trips will
be for your own account.c.
    
    Compassionate LeaveIn addition to the trips outlined above, should a member of your immediate family not residing with
you in Atlanta suffer life-threatening illness, injury or death, assistance will be provided to
allow you to be with the relative or attend to necessary arrangements.
 10.
    
    EDUCATIONThe Company will provide for private education for your children while in the U.S. and for the
first year after you return to Zurich for your two daughters. The
cost will be for Novelis
account.11.
    
    TAX PREPARATION & PLANNINGIt is strongly recommended that you obtain professional tax advice, in Zurich, Switzerland and
Atlanta prior to making any major financial decisions arising from
this assignment. You will be
provided with the services of professional tax consultants for the preparation of Swiss and U.S.
income tax returns for the fiscal years affected by this assignment.12.
    
    CHANGE IN STATUS OF EMPLOYMENTIn the event that the anticipated duration of this assignment or your position changes
significantly from what is set out in this letter, then the affected
terms and conditions will be
reviewed with you. If, at the end of this assignment, you should accept a
 Novelis, Inc
Lenox Building
3399 Peachtree Road, NE Suite 1500, Atlanta, Georgia 30326
Tel.: 404 814 4243
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permanent position in Zurich, Switzerland, then the benefits provided to you as an
expatriate employee will be discontinued.
 13.
    
    REPATRIATIONUpon successful completion of this assignment, it is anticipated that you will move to a top Senior
Vice President/Presidential role. You may receive an offer of continuing employment within the
Novelis Group of Companies for your consideration at that time. If, at the end of this assignment,
there should be no mutually satisfactory position or location available at that time within
Novelis, you will be repatriated to Zurich under normal expatriate terms. The terms and conditions
of your current individual Severance Agreement would apply.
  Sincerely,/s/ Robert D. VirtueRobert D. VirtueVP Human Resources Accepted:
    /s/ Erwin Mayr                          18.9.2009Erwin Mayr                                    Date Novelis, Inc
Lenox Building
3399 Peachtree Road, NE Suite 1500, Atlanta, Georgia 30326
Tel.: 404 814 4243
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