Document:

EX-10.45 TRANSITION AGREEMENT/JO-ANN LONGWORTH

 

Exhibit 10.45

June 15, 2006

Jo-Ann Longworth

     Re: Agreement concerning transition from employment

Dear Jo-Ann:

This letter is to confirm the agreement that we reached in our discussions concerning your
separation from employment with Novelis on a cooperative and amicable basis. Both you and Novelis
will work together to facilitate the transition in the manner described below.

Your employment in the advisory capacity with Novelis will end June 16, 2006 (“Separation
Date”). The terms of your transition are as follows:

     1. You may use remaining 2006 vacation, all accrued 2007 vacation and 2006 STIP converted
to time in order to extend your active service beyond your June 16 departure to establish a date of
termination (“Separation Date”).

     2. From the present date until end Separation Date, your compensation will continue as at
present.

     3. When you stepped down as VP & Controller, you elected the “Termination for Good
Reason” clause of the Change of Control Agreement signed by you on November 8, 2004.

     4. Upon the termination of your employment in the advisory capacity, the “Termination for
Good Reason” becomes effective and you will therefore be entitled to the “Special Termination
Indemnity Payment” which is “an amount equal to 24 months of Executive’s total cash compensation”
(i.e. base salary plus Short-Term Incentive Guideline amount) in effect on the date of termination.
This payment will be made six months after Separation Date to comply with IRC Section 409A. In
the event that you are a resident of Canada at the time of payment, Novelis will gross-up this
payment for the difference between the U.S. and Canadian tax cost.

     5. Provided that you sign a General Release and Waiver of claims against
Novelis as prepared by Novelis, Novelis will pay customary relocation expenses, (including the one
month net miscellaneous payment) subject to your decision on location, for your (a) personal
relocation from Atlanta to Cleveland or Canada, and (b) your family relocation from Cleveland to
Canada.

     6. In the event of your relocation back to Canada, Novelis will assure that your original
home equity of $186,000 will be converted into the same Canadian dollar value as was used to
purchase the home in July 2003 on an after-tax basis.

     7. Your housing loan arrangements will continue in effect until the earlier of the sale
of your house or Separation Date.

     8. Your stock options will expire on your Separation Date. You will receive from Novelis
a payment in the gross amount of $70,000 within 30 days of the Separation Date.

     9. All Novelis benefits, including life insurance, short and long term disability and
medical/dental plan coverage will end on the Separation Date. You will be eligible for COBRA
coverage at your cost.

     10. Novelis will reimburse your 2006 tax preparation costs for U.S. and Canada returns, if
applicable.

     11. You will remain on active employment status to Separation Date. You will return your
Novelis ID card and parking pass by June 16, 2006; the Blackberry and the company American Express
card to the Cleveland office when you arrive in Cleveland during your vacation period. Novelis
transfers ownership of your computer to you, subject to verification by our IT specialists that all
data on the hard drive has been wiped clean. You will continue to have use of the Company car
after June 16 until Separation Date, at which time you will return or purchase the vehicle.

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/ Jo-Ann Longworth
	 	 
	 

Jo-Ann LongworthEX-10.46 SEPARATION AND RELEASE AGREEMENT

 

Exhibit 10.46

SEPARATION AND RELEASE AGREEMENT

     This Separation and Release Agreement (“Agreement”) is entered into by and between Jo-Ann
Longworth (“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.

     Accordingly, Novelis and Employee agree as follows:

     1. Separation Date. The parties have mutually agreed to terminate their
employment relationship effective November 9, 2006 (“Separation Date”). Novelis will continue to
pay Employee’s salary and benefits at the current level, less required deductions and withholdings
through the end of vacation, with 2006 STIP converted to daily payments through to Separation
Date.

     2. Separation Incentive. It is recognized that the employment separation is
unplanned and has significant impact on U.S. Immigration status. In consideration, Novelis will
provide:

i) In recognition that US Immigration status at the time of termination may impact on
the Employee’s choice of destination, Novelis agrees to compensate Employee for the
customary company relocation costs (including the one-month miscellaneous payment)
associated with your (a) personal relocation from Atlanta to Cleveland or Canada and (b)
family from Cleveland to Canada.

ii) In the event that Employee relocates to Canada, Novelis will convert the
Employee’s initial home equity to Canadian dollars at the same rate as at the time of the
home purchase on an after-tax basis.

iii) Novelis will pay the Special Termination Indemnity Payment associated with the
Change of Control agreement no earlier than six (6) months from Separation Date to assure
full compliance with IRC Section 409A, and in the event that Employee is a resident of
Canada at time of payment, Novelis will reimburse Employee for the grossed-up difference
between the U.S. and Canadian tax cost.

iv) Employee’s stock options will expire at Separation Date. Novelis will
make a payment to Employee in the gross amount of $70,000 within 30 days of Separation Date.

v) Novelis will reimburse Employee’s 2006 tax preparation costs for U.S. and Canadian
(if applicable) filings.

vi) Novelis will also provide to the Employee executive level outplacement service for
a period of six (6) months.

     3. D&O Coverage. 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.

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     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
transition from employment 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/ Jo-Ann Longworth

	 	 	 	/s/ David Godsell	 	 
	 

EMPLOYEE NAME

	 	 	 	 

Novelis Corporation
	 	 
	 
	 	 	 	 	 	 
	June 15, 2006

	 	 	 	June 15,
2006
	 	 
	Date

	 	 	 	Date
	 	 
	 
	 	 	 	 	 	 
	/s/ Martha Brooks

	 	 	 	/s/ Martha Brooks	 	 
	 

Witness

	 	 	 	 

Witness
	 	 

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