Exhibit 10(o)(v)

                                             Approved by Board February 27, 2009
                                                 Subject to Stockholder Approval

                         DIRECTORS' ANNUAL RETAINER PLAN

1.    This Plan shall govern the annual retainer and quarterly meeting fees
      payable for services as a member of the Board of Directors of Albany
      International Corp. ("the Company") during the period from the Annual
      Meeting of Stockholders of the Company in 2009 until it is amended or
      terminated by the Board of Directors; provided, that in no event shall any
      shares be paid under this plan after May 29, 2018. This Plan shall affect
      only the portion of the annual retainer or meeting fees to be paid in
      shares of Class A Common Stock ("Shares") of the Company.

2.    A portion of the amounts payable for service as a member of the Board of
      Directors each year shall be paid in Shares. Each director shall receive a
      portion of the annual retainer equal to $50,000 in Shares. In lieu of
      quarterly meeting fees, each director shall receive additional Shares each
      year with a value of $25,000. The total number of shares to be paid to
      each director each year shall be determined by dividing $75,000 by the per
      share closing price of a share of such stock on the day of the Annual
      Meeting at which the election of directors for such year occurs ("the
      Valuation Price"), as such Valuation Price is shown on the composite index
      for such day in the Wall Street Journal, rounded down to the nearest whole
      number. Any director may elect to have any withholding tax obligation
      arising from the distribution of shares under this Plan to be satisfied by
      directing the Company to withhold shares with a value equal to such
      obligation from the shares that would otherwise be issuable. In addition,
      any director who has met or exceeded any share ownership guidelines or
      requirements adopted by the Board of Directors and then in effect, may
      elect to receive all or any portion of the shares that would otherwise be
      distributed under this paragraph in cash. Any election pursuant to this
      paragraph shall be made no later than 10 business days prior to the date
      on which shares would otherwise be delivered.

3.    The shares of Class A Common Stock payable to a director under this Plan
      shall be delivered to the director as promptly as practicable after each
      Annual Meeting. Upon delivery to the director, such shares shall be fully
      paid, non-assessable and not subject to forfeiture.

4.    The portion of the annual retainer not paid in shares--that is, the
      aggregate dollar amount of the annual retainer for the year, as determined
      from time to time by the Board of Directors, less (i) the Valuation Price
      times (ii) the number of whole shares payable to a director for the
      year--as well as any cash meeting fees or other cash compensation, shall
      be paid to the directors in cash at such time or times during the year as
      the Board of Directors shall from time to time determine.

5.    This Plan may be terminated or amended by the Board of Directors at any
      time, subject to any applicable rules or regulations requiring approval by
      stockholders of the Company.