Document:

EX-10.47 TRANSITION AGREEMENT/GEOFF BATT

 

Exhibit 10.47

			
	 	 	
	June 27, 2006
	 
	 	 
	     Re:
Update of Agreement concerning transition from employment
	 	 
	Dear Geoff:	 

This letter will update the March 21 2006 agreement that we reached concerning your separation
from employment with Novelis.

You stepped down from the day to day activities as Chief Financial Officer of Novelis effective
the end of the working day on June 16 2006, following which you began using all unused vacation for
2006 and 2007 accrued vacation time. Your active employment ended on June 16 2006, whereupon you
went on the non-active payroll that will terminate on August 11 2006.

Your compensation through the end of your employment will be addressed as follows:

     1. From the present date until your employment ends on August 11 2006, your compensation
will continue as at your present rate of pay.

     2. The employment period for the purposes of the non-qualified pension established for
you by Novelis will cover the period from your date of hire by Novelis, May 18, 2004, to your last
day on the non-active payroll of August 11 2006.

     3. You elected the “Termination for Good Reason” clause of the Change of Control
Agreement signed by you on November 8, 2004.

     4. Since you elected the “Termination for Good Reason” clause of the Change of Control
Agreement you will be entitled to the “Special Indemnity Payment” which is “an amount equal to 24
months of Executive’s total cash compensation” (i.e. base salary plus STIP Guideline amount) in
effect on the date of termination.

     5. Novelis has provided you with a General Release and Waiver of Claims against
Novelis, in consideration for customary relocation expenses to Florida with some furniture being
shipped to Canada, (including the purchase of your home subject to your best efforts to sell your
home but not including the one month net miscellaneous payment.

If you agree that this letter accurately describes the terms of our agreement, please
sign a copy of it in the space provided below and return that copy to me.

	 	 	 
	 

	 	Sincerely,
	 

	 	/s/ David Godsell
	 

	 	David Godsell

	 	 
	It is so agreed:
	 
	/s/ Geoff Batt

	 
	
Geoff BattEX-10.48 SEPARATION AND RELEASE AGREEMENT/BATT

 

Exhibit 10.48

SEPARATION AND RELEASE AGREEMENT

This Separation and Release Agreement (“Agreement”) is entered into by and between Geoff Batt
(“Employee”) and Novelis Corporation (“Novelis”) as a result of a mutual agreement to end the
employment relationship. In order to provide for an amicable separation of employment and to
provide further assistance in Employee’s transition from employment, Novelis has offered to
Employee a separation incentive, and Employee has decided to accept the separation incentive.

1. Separation Date: The parties have mutually agreed to terminate their employment
relationship (on the date after which the Employee has taken 2006 unused vacation and 2007
vacation accrual days on the non – active payroll) that follows the date on which the Novelis
Form 10-K for 2005 has been signed by the Employee as the CFO (“Separation Date”). Novelis will
continue to pay Employee’s salary and benefits at the current level, less required deductions and
withholding, through the Separation Date.

2. Separation Incentive: Novelis agrees to reimburse the Employee for (a) customary
closing fees and real estate commission (grossed up for tax), physical moving to Florida (or some
portion of household effects elsewhere in North America ie. Belleville Ontario), does not include
the one month misc payment, and (b) Normal company treatment on Georgia home sale process subject
to Employee best efforts in selling the Duluth, GA domicile.

3. D&O Converge: Employee is entitled, to the maximum extent legally permitted, to be
indemnified by Novelis Inc. for all costs, charges and expenses Employee reasonably incurs in
connection with any civil, criminal, administrative, investigative, or other proceeding to which
Employee is subject due to Employee’s association with Novelis Inc. and Novelis, Inc. will make
advances to Employee to cover such costs, charges and expenses on the condition that (a)
Employee acted honestly and in good faith with a view to the best interests of the corporation
and (b) in the case of a criminal or administrative proceeding that is enforced by a monetary
penalty, Employee had reasonable grounds for believing that Employee’s conduct was lawful. If
either (a) or (b) in the preceding sentence is not true, then Employee must repay to Novelis.
Inc. or its insurance carrier any funds paid to Employee by Novelis Inc. or its insurance
carrier for the costs, charges and expenses described in the preceding sentence.

4. Release: In consideration for the Separation Incentive described in paragraph 2,
Employee does hereby voluntarily waive, release, hold harmless, acquit and forever discharge
Novelis, its predecessors, parents, subsidiaries and affiliated companies, successors and
assigns, and the past, present and future officers, directors, employees, representatives and
agents from (i) any and all claims, charges, complaints, demands, damages, lawsuits, actions or
causes of action, known or unknown, and of any kind or description whatsoever, which arose prior
to the execution of this Agreement; and (ii) any and all claims arising out of or in any way
related to Employee’s employment with Novelis; and (iii) any and all claims under any possible
legal, equitable, tort, contract, common law, public policy or statutory theory, arising under
any federal, state or local law, rule, ordinance or regulation, including but not limited to, the Age Discrimination in
Employment Act of 1967, the Civil Rights Act of 1866, the Civil Rights Act of 1991, Title VII of
the Civil Rights Act of 1964, the Employee Retirement Income Security Act of 1974, the Americans
with Disabilities Act of 1990, all as amended to the date of this Agreement, and any other legal
action against Novelis which Employee had, has or may have against Novelis in any way arising
out of Employee’s employment with Novelis including any claim of which Employee is not aware and
those not mentioned in this paragraph 3, as of the date of this Agreement.

5. Acknowledgment: By signing this Agreement and in connection with the release of any
and all claims as set forth in paragraph 3, Employee and Novelis acknowledge, agree and
represent that:

	 	(a)	 	The execution of this Agreement shall not constitute any admission
by Novelis that it has violated any federal, state or local statute, ordinance,
rule, regulation or common law, or that Employee has any meritorious claims
whatsoever against Novelis. On the contrary, Novelis expressly denies that it
violated any of Employee’s rights or that it has harmed Employee in any way;
	 
	 	(b)	 	No promise or inducement has been offered to Employee, except as
herein set forth;

 

 

	 	(c)	 	This Agreement is being executed voluntarily and knowingly by
Employee and Novelis without reliance upon any statements by others or their
representatives concerning the nature or extent of any claims or damages or
legal liability therefore;
	 
	 	(d)	 	This Agreement has been written in understandable language, and all
provisions hereof are understood by Employee and Novelis;
	 
	 	(e)	 	Employee is advised, and has had an opportunity, to consult with an
attorney of Employee’s own choosing prior to executing this Agreement;
	 
	 	(f)	 	Employee will receive, pursuant to this Agreement, consideration in
addition to anything of value to which the Employee is already entitled;
	 
	 	(g)	 	Employee has twenty-one (21) days from the receipt of this Agreement
in which to decide whether to enter into this Agreement, sign it and return it
to Ken Grillo at Novelis’ Human Resource Department, 6060 Parkland Blvd.,
Mayfield Heights, Ohio 44124. The Employee may sign this Agreement and return it
to Ken Grillo prior to the expiration of the 21-day period;
	 
	 	(h)	 	Employee has the right to revoke this Agreement during the seven (7)
day period by mailing a letter of revocation to Ken Grillo at the above
address. Such a letter must be signed and received by Novelis no later than
the seventh day after the date on which Employee signed the Agreement. This
Agreement shall not become effective or enforceable until the seven (7) day
revocation period expires.

6. Entirety of Agreement: This Agreement contains the entire agreement among the parties
hereto with respect to the subject matter hereof, with the sole exception being the severance
letter previously provided to Employee, the terms of which are incorporated herein by reference.
This Agreement may not be modified, except in writing signed by Employee and Novelis.

7. Severability: If any term, condition, clause or provision of paragraph 3 of this
Agreement shall be determined by a court of competent jurisdiction to be void or invalid as a
matter of law, or for any other reason, then only that term, condition, clause or provision as
is determined to be void or invalid shall be stricken from this Agreement and the remaining
portions of paragraph 3 shall remain in full force and effect in all other respects.

IN WITNESS WHEREOF, Employee and Novelis have freely, voluntarily and knowingly executed this
Agreement as of the day and year first written above.

	 	 	 	 	 	 	 
	/s/ Geoff Batt
 

	 	 	 	/s/ David Godsell
 

	 	 
	Employee Name

	 	 	 	Novelis Corporation	 	 
	 
	 	 	 	 	 	 
	July 1, 2006

	 	 	 	June 27, 2006	 	 
	 

	 	 	 	 	 	 
	Date

	 	 	 	Date	 	 
	 
	 	 	 	 	 	 
	/s/ Jacky Batt

	 	 	 	/s/ Ann Samuels-Patterson	 	 
	 

	 	 	 	 	 	 
	Witness

	 	 	 	WitnessEX-10.49 OFFER LETTER/ROBERT M. PATTERSON

 

Exhibit 10.49

February 23, 2006

Robert M. Patterson

5620 Wrenfield Ct.

Charlotte, NC 28277

Dear Bob:

We are pleased to offer you the position of Vice President and Controller reporting to the Senior
Vice President and Chief Financial Officer. This position is located in Atlanta, Georgia. The
terms and conditions applicable to your appointment to this position are as follows:

	1.	 	Starting Date
	 
	 	 	The effective date of this position will be March 27, 2006, or a date mutually agreeable
between us.
	 
	2.	 	Salary
	 
	 	 	The position of Vice President and Controller will have an initial base salary of $260,000
annually.
	 
	3.	 	Short-Term Incentives (STI)
	 
	 	 	In addition to base salary, this position also includes participation in Novelis’ STI
program. The target payout for your position will be 45% of your base salary annually or
$117,000. You will be eligible for pro-rated participation for 2006. The performance
measures for this plan for 2006 will be built around Novelis business performance
objectives with specific objectives for the Finance function. Depending on the level of
the results, the actual bonus for 2006, pro-rated for service, could be as high as
two-times target or 90% of your base salary ($234,000) or as low as zero.
	 
	4.	 	Long Term Incentives (LTI) 
	 
	 	 	You will be eligible for participation in Novelis’ LTI program. The target annual
opportunity for your position is $155,000. Novelis is in the process of developing a new
plan for approval by shareholders in June. We anticipate making a grant in July for a
three-year performance period. It is expected that the performance measure will be the
total shareholder return of Novelis compared to the return of the companies in the S&P
Industrials Index. Depending on the level of the results, the actual LTI earned for a
period could be as high as two and one-half times target or $387,500 (would be higher if
Novelis share price increases from date of grant) or as low as zero. It is anticipated
that the plan design will require the payout to be made in Novelis shares.
	 
	5.	 	Sign-on Bonus
	 
	 	 	You will receive a one-time sign-on bonus in the gross amount of $50,000 to recognize
various programs for which you will cease participation by terminating with your present
employer. This payment will be made to you within 30 days of the start of your employment
with Novelis.

	6.	 	Benefits
	 
	 	 	Novelis provides a wide range of benefits which include:

	 	w	 	Savings and Pension — You will be immediately eligible to participate in the
Novelis Savings and Retirement Plan. Under the savings portion of the plan, you
will have pre- and after-tax savings options with Company match of 100% on your
first 3% of contributions and 50% on your next 3% of contributions. You will
immediately be vested 100% in the Company match. Under the retirement portion of
the plan you will receive a Company contribution in the amount of 5% of your base
salary and annual bonus received. You will be fully vested in the retirement
portion on your third anniversary, there is no partial vesting.
	 
	 	w	 	Life insurance.
	 
	 	w	 	Medical and prescription drug plan.
	 
	 	w	 	Dental coverage.
	 
	 	w	 	Short and long term disability.
	 
	 	w	 	Flex Perks — You will receive an annual stipend of $7,000, minus required
deductions, paid to you over 12 months. This amount is intended for your personal
use for club memberships, professional financial services or as you may choose.
The company does not otherwise pay for club dues and/or financial services.

 

 

	7.	 	Company Vehicle
	 
	 	 	You 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 deduction.) Fuel, maintenance and insurance expenses are paid by the
company. In accordance with IRS regulations, use of a company provided vehicle for
personal use is a taxable benefit to you.
	 
	8.	 	Relocation
	 
	 	 	The company will pay for the following for your relocation to Atlanta, Georgia:

	 	(a)	 	Miscellaneous relocation allowance in the gross amount of $25,000
	 
	 	(b)	 	Relocation of your household goods to the Atlanta area.
	 
	 	(c)	 	One house hunting trip to the Atlanta area for your family.
	 
	 	(d)	 	Temporary accommodations for two months in the Atlanta area. Temporary
housing can be extended should this period prove to be insufficient to meet your
situation but depending on the length of any extension you may be asked to share in
the additional cost.
	 
	 	(e)	 	Standard closing costs (e.g. fees, tax stamps, attorney fees) including up to
a total of two points for discount points and loan origination fees.
	 
	 	(f)	 	Home purchase program should you be unsuccessful in selling your home
following a reasonable effort on your part. Should you be successful in selling your
home, the realtor’s commission is reimbursed and the reimbursement is also included in
the tax gross-up calculation.
	 
	 	(g)	 	Federal and state income tax preparation for the year of your move.

	 	9.	 	Vacation Entitlement
	 
	 	 	 	You will be entitled to twenty (20) days of vacation for the year 2006. Thereafter, your
vacation entitlement will be governed by Novelis’ vacation policy but will continue to be
no less than twenty (20) days annually. You will also be entitled to the legal holidays in
Novelis’ 2006 published holiday schedule for the Atlanta office.
	 
	 	10.	 	Severance
	 
	 	 	 	In the event your employment is terminated within one year except for cause, you will
receive twelve (12) months severance pay and benefits as described in the Novelis Severance
Policy. Subsequently, you will be subject to the standard severance policy.

This offer is conditional upon your passing a pre-placement physical exam and drug screen test to
ensure your suitability for the required tasks. You should contact Mary Sundelin at 1-800-745-2522
as soon as possible to make arrangements.

This position requires travel/business related expenses. You must have a credit card to cover
these business-related expenses. Novelis will provide you with an application for a corporate
American Express Card. The ability to obtain a corporate American Express card is based solely on
your personal credit. If you are unable to obtain the company corporate card and do not have a
personal credit card to cover these required business related expenses, Novelis has the option to
deny you employment/further employment with Novelis.

I trust the above is acceptable to you. If you have any questions about the offer, please feel
free to contact me.

If you agree with the above, please sign and return a copy of this letter to me by February 24,
2006.

On behalf of Novelis, I look forward to welcoming you to our team.

Sincerely,

/s/ David Godsell

David Godsell

Vice President Human Resources and Environment, Health & Safety

Accepted
by: /s/ Robert Patterson

DATED: February 24, 2006

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