Packaging Corporation of America (PKG) 8-K Packaging Corporation of America Announces Hiring of Robert P. Mundy to Succeed Richard B. West As Chief Financial Officer

Exhibit 99.2

Summary of Terms of Compensation Arrangement for Robert P. Mundy

• Annual base salary of $600,000

• Annual target cash incentive award of $750,000, subject to proration for 2015. Actual cash incentive awards will be determined by the compensation committee in accordance with its customary practice.

• Annual targeted equity compensation of $750,000 consisting of restricted stock and/or performance units in similar proportion as awards made to other executive officers.

• In part to compensate for benefits forfeited from his prior employer, a one-time cash signing bonus of up to $1,250,000, paid on or around the start date.

• A one-time restricted stock award (vesting in equal annual installments over a three-year period) valued at $500,000 to be made on the start date.

• Relocation benefits under PCA’s relocation policy.

• Retirement, health and welfare benefits on a similar basis as other PCA employees.