Exhibit 10.1

    

    

    ALBANY INTERNATIONAL CORP.

    216 Airport Drive

    Rochester, New Hampshire 03867

    

    

    August 5, 2021

    

    

    Standish Family Holdings, LLC

    J.S. Standish Company

    120 W. Tupper Street

    Suite 200

    Buffalo, NY 14201

    

    

    Ladies and Gentlemen:

    

    

    Reference is made to the proposed sale by certain of J.S. Standish Company, Christine L. Standish, John C. Standish, Standish Family
      Holdings, LLC and J. Spencer Standish Discretionary Trust for Christine L. Standish U/A/D 6/21/83 (collectively, the “Standish Family”) of certain shares of
      Class A Common Stock, par value $0.001 per share (the “Shares”) issuable upon conversion of an equal number of shares of Class B Common Stock, par value $0.001
      per share, of Albany International Corp. (the “Corporation”) in the form of a registered block sale of such securities (the “Proposed Offering”).

    

    

    In consideration of the Corporation’s assistance in connection with the Proposed Offering, the Corporation and the Standish Family hereby
      agree that, whether or not the transactions contemplated by the Proposed Offering are consummated, the Standish Family will (a) jointly and severally pay, or reimburse the Corporation for payment of, or cause to be paid or reimbursed, all
      out-of-pocket costs and expenses of the Corporation incident to the Proposed Offering, including, without limitation, (i) the costs incident to the authorization, issuance, sale, preparation and delivery of the Shares; (ii) the costs incident to the
      preparation, printing and filing under the Securities Act of 1933, as amended, of any registration statement, preliminary prospectus, issuer free writing prospectus, pricing disclosure package and prospectus (including all exhibits, amendments and
      supplements thereto) and the distribution thereof; (iii) documented fees and expenses of the Corporation’s counsel and independent accountants; (iv) 50% of the documented fees and expenses payable to Robert W. Baird & Co. for its services
      provided to the special committee (the “Special Committee”) of the board of directors (the “Board”) of the Corporation in connection with the Special Committee’s evaluation of the Proposed Offering; (v) the fees and expenses incurred in connection with the registration or qualification and determination of
      eligibility for investment of the Shares under the laws of such jurisdictions as the underwriters for the Proposed Offering may designate and the preparation, printing and distribution of a blue sky memorandum (including the related documented fees
      and expenses of counsel for the underwriters); (vi) the costs and charges of the Corporation’s transfer agent and any registrar; (vii) all expenses and application fees incurred in connection with any filing with, and clearance of the Proposed
      Offering by, the Financial Industry Regulatory Authority, Inc. (including the related documented fees and expenses of counsel for the underwriters for the Proposed Offering); and (viii) all expenses and application fees related to the listing of the
      Shares on the New York Stock Exchange, (b) promptly convert any and all shares of Class B Common Stock held by the Standish Family into an equal number of shares of Class A Common Stock pursuant to and in accordance with the Amended and Restated
      Certificate of Incorporation of the Corporation and (c) cause Christine L. Standish and Lee C. Wortham (the “Standish Directors”) to tender their resignations,
      substantially in the form attached hereto as Annex A, as members of the Board and all committees of the Board on which such Standish Directors serve.

    

    

    
      
        


    

    

    

    This letter agreement will be governed by and construed in accordance with the laws of the State of New York. This letter agreement may be
      executed and delivered in counterparts (including by .pdf or facsimile transmission), each of which will be deemed an original.

    

    

    If the foregoing is in accordance with your understanding, please sign and return a counterpart hereof, whereupon this letter and the
      acceptance by each of you thereof shall constitute a binding agreement between the Corporation and each of you in accordance with its terms.

    

    

    [Signature page follows]

    

    

    
      
        


    

    

    

    	 	
            Very truly yours,

          
	 	 	 	 
	 	
            ALBANY INTERNATIONAL CORP.

          
	 	 	 	 
	 	
            By

          	
            /s/ Stephen M. Nolan

          
	 	 	
            Name:

          	
            Stephen M. Nolan

          
	 	 	
            Title:

          	
            Chief Financial Officer and Treasurer

          


    

    

    

    

    	
            Acknowledged and agreed:

             	 
	 	 	 	 
	
            STANDISH FAMILY HOLDINGS, LLC

          	 
	 	 	 	 
	
            By

          	
            /s/ Lee C. Wortham

          	 
	 	
            Name: 

            

          	Lee C. Wortham	 
	 	
            Title: 

            

          	J.S. Standish Co., As Manager	 
	 	 	 	 
	
            J.S. STANDISH COMPANY

          	 
	 	 	 	 
	
            By

          	
            /s/ Lee C. Wortham

          	 
	 	
            Name: 

            

          	Lee C. Wortham	 
	 	
            Title: 

            

          	Treasurer	 
	 	 	 	 
	 	
            /s/ Christine L. Standish

          	 
	 	
            Christine L. Standish

          	 
	 	 	 	 
	 	
            /s/ John C. Standish

          	 
	 	
            John C. Standish

          	 


    

    

    	
            J. SPENCER STANDISH DISCRETIONARY TRUST

          	 
	
            FOR CHRISTINE L. STANDISH U/A/D 6/21/83

          	 
	 	 	 	 
	
            By:

          	
            Myles Private Trust Company, LLC, solely as trustee

          	 
	 	 	 	 
	
            By

          	
            /s/ William V.A. Zorn

          	 
	 	
            Name: 

            

          	William V.A. Zorn 

          	 
	 	
            Title: 

            

          	Chief Financial Officer 

          	 


    

    

    
      
        


    

    

    

    ANNEX A

    

    

    DIRECTOR RESIGNATION LETTER

    

    

    [DATE], 2021

    

    

    Board of Directors of Albany International Corp.

    216 Airport Drive

    Rochester, New Hampshire 03867

    Attention: Erland E. Kailbourne, Chairman of the Board

    

    

    Ladies and Gentlemen:

    

    

    I hereby tender my resignation as a member of the board of directors (the “Board”) of Albany International Corp. (“Albany”) and of all committees of the Board on which I serve, effective upon the closing
      of the offering described in the preliminary prospectus supplement to be filed by Albany with the Securities and Exchange Commission on the date hereof.

    

    

    	 	
            Sincerely,

          
	 	 
	 	 
	 	
            [NAME]

          


    

    

    	
            Cc:

          	
            A. William Higgins, President and CEO

          
	 	
            Joseph M. Gaug, Vice President, General Counsel and Secretary