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February 2, 2026
To: Erin Maile
Dear Erin –
Below are the terms
related to your promotion as you assume the role of Executive Vice
President, Chief Accounting Officer, effective February 2, 2026, reporting
to Jim Till, Chief Financial Officer. Congratulations!
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Employment
Provision
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Compensation
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Annualized Base Salary
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$275,000
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Short Term Incentive Target
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$123,750 (45%)
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Long Term Incentive Target
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$200,000(1)
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Total Target Direct Compensation
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$598,750
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Percentage of Pay at Risk
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54%
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(1) Revised LTI value reflects
an additional $100k in equity value beyond the grant issued in November,
bringing the total LTI value for FY2026 to $200k.
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In addition to your
expanded compensation, you will be eligible to participate in the Magnera
Executive Severance Plan, effective February 2, 2026, which includes both
severance and change-in-control benefits, and will be designated as a Section
16 Officer. In this role, you will be subject to the Company’s Share Ownership
Guidelines and Clawback policies.
Erin,
congratulations on this well-earned promotion!
________________________________________
Curt Begle
Chief Executive Officer, Magnera
