Exhibit 10.1



 EXHIBIT 10.1 

SUMMARY PLAN DESCRIPTION 

401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation 

(as amended and restated effective June 29, 2015) 







 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific
Corporation 
  

							
	 SUMMARY PLAN DESCRIPTION
	  	 	1	  
			
	 I.
	  	 BASIC PLAN INFORMATION
	  	 	2	  
			
	 II.
	  	 PARTICIPATION
	  	 	4	  
			
	 III.
	  	 CONTRIBUTIONS
	  	 	4	  
			
	 IV.
	  	 INVESTMENTS
	  	 	7	  
			
	 V.
	  	 VESTING
	  	 	8	  
			
	 VI.
	  	 IN SERVICE WITHDRAWALS AND LOANS
	  	 	9	  
			
	 VII.
	  	 DISTRIBUTION OF BENEFITS
	  	 	10	  
			
	 VIII.
	  	 MISCELLANEOUS INFORMATION
	  	 	12	  
			
	 IX.
	  	 INTERNAL REVENUE CODE TESTS
	  	 	13	  
			
	 X.
	  	 PARTICIPANT RIGHTS
	  	 	14	  
			
	 XI.
	  	 SERVICES AND FEES
	  	 	16	  
			
	 XII.
	  	 LOAN PROCEDURES FOR 401(K) INCENTIVE SAVINGS PLAN FOR SALARIED AND HOURLY EMPLOYEES OF KEWAUNEE SCIENTIFIC
CORPORATION
	  	 	17	  


  

			
	  

	 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation 42325
	  	









 
Summary Plan Description 

401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation 


The 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation (the “Plan”) of Kewaunee Scientific Corp. has
been amended as of 06/29/2015 (the “Effective Date”). This Plan is intended to be a qualified retirement plan under the Internal Revenue Code. 

The purpose of the plan is to enable eligible Employees to save for retirement. As well as retirement benefits, the plan provides certain benefits in the
event of death, disability, or other termination of employment. The Plan is for the exclusive benefit of eligible Employees and their Beneficiaries. 
 This
booklet is called a Summary Plan Description (“SPD”) and it contains a summary in understandable language of your rights and benefits under the plan. If you have difficulty understanding any part of this SPD, you should contact the Plan
Administrator identified in the Basic Plan Information section of this document during normal business hours for assistance. 
 This SPD is a brief
description of the principal features of the plan document and trust agreement and is not meant to interpret, extend or change these provisions in any way. A copy of the plan document is on file with the Plan Administrator and may be read by any
employee at any reasonable time. The plan document and trust agreement shall govern if there is a discrepancy between this SPD and the actual provisions of the plan. 

This SPD is based on the federal tax implications of your participation in the Plan, transactions made within your Account, and distributions you may receive
from the plan. The state tax implications of your participation and these transactions should be determined based on an examination of appropriate state law. Please consult with your tax advisor if you have any questions regarding state tax law.


  

					
	  

	 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation 42325
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I. BASIC PLAN INFORMATION 


The information in this section contains definitions to some of the terms that may be used in this SPD and general Plan information. If the first letter of
any of the terms defined below is capitalized when it is used within this SPD, then it represents the indicated defined term. 
  

	A.	Account 

 An Account shall be established by the Trustee to record contributions made on your behalf and
any related income, expenses, gains or losses. It may also be referred to as an Account balance. 
  

	B.	Beneficiary 

 This is the person or persons (including a trust) you designate, or who are identified by
the plan document if you fail to designate or improperly designate, who will receive your benefits in the event of your death. You may designate more than one Beneficiary. 
  

	C.	Deferral Contribution 

 This is a contribution taken directly from the pay of an Employee and contributed
to the Plan, subject to certain limits (described below). The plan permits you to make only pre-tax Deferral Contributions. 
  

	D.	Employee 

 An Employee is an individual who is employed by your Employer as a common law employee or, in
certain cases, as a leased employee and is not terminated. 
  

	E.	Employer 

 The name and address of your Employer is: 

Kewaunee Scientific Corp. 
 2700 West Front Street 

Statesville, NC 28677 
 (704) 871-3201 

The Employer’s federal tax identification number is: 38-0715562 
  

	F.	ERISA 

 The Employee Retirement Income Security Act of 1974 (ERISA) identifies the rights of Participants
and Beneficiaries covered by a qualified retirement plan. 
  

	G.	Fidelity Investments Contact Information 

 Fidelity Investments is the recordkeeper of your Plan. To view
your Account, make changes to investments, or perform transactions, please use the contact information below: 
 Phone number: 1-800-835-5097 

Website: www.netbenefits.com 
  

	H.	Highly Compensated Employee 

 An Employee is considered a highly compensated Employee if (i) at
anytime during the current or prior year you own, or are considered to own, at least five percent of your Employer, or (ii) received compensation from your Employer during the prior year in excess of $120,000.00, as adjusted. 

 

	I.	Non-Highly Compensated Employee 

 An Employee who is not a Highly Compensated Employee. 

 

	J.	Participant 

 A participant is an eligible Employee who has satisfied the eligibility and entry date
requirements and is eligible to participate in the Plan or a formerly eligible Employee who has an Account balance remaining in the Plan. 

  

					
	  

	 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation 42325
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	K.	Plan Type 

 The 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific
Corporation is a defined contribution plan. These types of plans are commonly described by the method by which contributions for participants are made to the plan. The 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee
Scientific Corporation is a 401(k) deferral plan. More information about the contributions made to the plan can be found in Section III, Contributions. 
  

	L.	Plan Administrator 

 The Plan Administrator is responsible for the administration of the Plan and its
duties are identified in the plan document. In general, the Plan Administrator is responsible for providing you and your Beneficiaries with information about your rights and benefits under the Plan. The name and address of the Plan Administrator is:

 Kewaunee Scientific Corp. 
 2700 West Front Street 

Statesville, NC 28677 
 (704) 871-3201 

 

	M.	Plan Number 

 The three digit IRS number for the Plan is 006. 

 

	N.	Plan Sponsor 

 The Plan’s Sponsor is the first Employer listed under the definition of Employer
above. 
  

	O.	Plan Year 

 The Plan Year is the twelve-month period ending on the last day of December. The Plan Sponsor
may only change or have changed the Plan Year by amending and restating to a new Plan Document. 
  

	P.	Qualified Military Service 

 Qualified Military Service is service in the uniformed services of the
United States for a period of greater than 30 days that results in the Participant having a right of reemployment with the Employer under federal law. 
  

	Q.	Service of Process 

 The plan’s agent for service of legal process is the Plan Administrator. 

 

	R.	Trustee 

 The trustee is responsible for trusteeing the Plan’s assets. The trustee’s duties are
identified in the trust agreement and relate only to the assets in its possession. The name and address of the Plan’s Trustee are: 
 Fidelity
Management Trust Company 
 82 Devonshire Street 
 Boston, MA
02109 

  

					
	  

	 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation 42325
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II. PARTICIPATION 

  

	A.	Eligibility Requirements 

 You are eligible to participate in the Plan if you are an Employee. 

However, you are not eligible to participate if you are: 
  

	 	•	 	a resident of Puerto Rico 

  

	 	•	 	covered by a collective bargaining agreement, unless the agreement requires the employees to be included under the Plan. 

  

	 	•	 	a leased Employee 

  

	 	•	 	a nonresident alien with no income from a U.S. source. 

 You are also not eligible to participate if you are an
individual who is a signatory to a contract, letter of agreement, or other document that acknowledges your status as an independent contractor not entitled to benefits under the Plan and you are not otherwise classified by the Employer as a common
law employee or the Employer does not withhold income taxes, file Form W-2 (or any replacement form), or remit Social Security payments to the Federal government for you, even if you are later adjudicated to be a common law employee. 

You will become eligible to participate in the Plan according to the table below: 
  

							
	 Contribution type
	 	Age Requirement	 	Service Requirement	 	Entry Date
	All Sources	 	20.00	 	3.00 month(s)	 	First day of each month

 Once you become a Participant you are eligible to participate in the Plan until you terminate your employment with your
Employer or become a member of a class of Employees excluded from the Plan. If you terminate your employment after you have met the eligibility requirements, and are later re-employed by your Employer, you will again be eligible to participate in
the Plan when you complete one hour of service. 
  

III. CONTRIBUTIONS 


After you satisfy the participation requirements in Section II of this Summary Plan Description, you will be eligible to make Deferral Contributions and
after-tax contributions. In addition, your Employer may make matching and nonelective contributions to your Account. The type(s) of contributions available under the Plan are described in this section. 

 

	A.	Compensation 

 Compensation must be defined to compute contributions under the Plan. For purposes of
determining contributions, only Compensation paid to you for services you performed while employed as an Eligible Employee shall be considered. Eligible compensation for computing contributions under the Plan is the taxable compensation for a Plan
Year reportable by your Employer on your IRS Form W-2, excluding reimbursements or other expense allowances, fringe benefits, moving expenses, deferred compensation, any payments made to an Employee performing Qualified Military Service in lieu of
wages the individual would have received from the Employer if the individual were performing service for the Employer, unused leave, and welfare benefits and including salary reduction contributions you made to an Employer sponsored cafeteria,
qualified transportation fringe, simplified employee pension, 401(k), 457(b) or 403(b) plan. 

  

					
	  

	 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation 42325
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 The definition of compensation for your plan for purposes of computing contributions also excludes certain
amounts as indicated in the table below. 
  

			
	 Source
	  	 Exclusion (s)

	Employee Deferral Contributions, Employee After-Tax Contributions, Safe Harbor Match and Qualified Nonelective Contributions	  	Differential Wages
		
	Employer Nonelective Contributions	  	Differential Wages

 Compensation for your first year of eligible Plan participation will be measured only for that portion of your initial Plan
Year that you are eligible. Tax laws limit the amount of compensation that may be taken into account each Plan Year; the maximum amount for the 2015 Plan Year is $265,000. 
  

	B.	Contributions 

  

	 	1.	Regular Deferral Contributions 

 You may elect to defer a percentage of your eligible
compensation into the Plan after you satisfy the Plan’s eligibility requirements. The percentage of your eligible compensation you elect will be withheld from each payroll and contributed to an Account in the Plan on your behalf. For pre-tax
contributions being withheld from your compensation, the percentage you defer is subject to an annual limit of the lesser of 60.00% of eligible compensation or $18,000 (in 2015; thereafter as adjusted by the Secretary of the Treasury) in a calendar
year. 
 All Deferral Contributions will be withheld from your pay on a pre-tax basis (for federal income tax purposes). 

Your Deferral Contributions cannot be forfeited for any reason, however, there are special Internal Revenue Code rules that must be satisfied
and may require that some of your contributions be returned to you. The Plan Administrator will notify you if any of your contributions will be returned. You may increase or decrease the amount you contribute as of the first day of each month. You
may also completely suspend your contributions which you may resume as of the first day of each month. If you want to increase, decrease, suspend, or resume your Deferral Contributions, you must call the Fidelity Retirement Benefits Line at
1-800-835-5097 or access the NetBenefits® web site at www.401k.com. 
 You
may create an annual increase program to gradually raise your contribution rate each year. 
  

	 	2.	Age 50 and Over Catch-Up Contributions 

 The Plan provides that participants who are
projected to be age 50 or older by the end of the taxable year and who are making Deferral Contributions to the Plan may also make a catch-up contribution of up to $6,000 (2015; thereafter as adjusted by the Secretary of the Treasury). 

 

	 	3.	Employee After-Tax Contributions 

 After you satisfy the Plan’s eligibility and
entry date requirements, you may elect to contribute a percentage of your eligible compensation into the Plan on an after-tax basis. You may contribute a percentage of eligible compensation up to an annual maximum of 100%. However, there are special
Internal Revenue Code rules which must be satisfied and the maximum amount you may contribute may be a lower percentage. The Plan Administrator will notify you if any of your contributions will be returned. Your Employer may refuse to accept your
after-tax contributions if they will have an adverse effect on the Plan’s non-discrimination tests. Your after-tax contributions belong to you and cannot be forfeited for any reason. 

  

					
	  

	 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation 42325
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	 	4.	Employer Matching Contributions 

 You become eligible for matching contributions only if
you make Deferral Contributions. For purposes of determining your matching contributions under the Plan, your Contributions will not include Age 50 and Over Catch-Up Contributions, except in unusual circumstances where otherwise required by the safe
harbor matching contributions formula. Employer matching contributions must be allocated to your Account in the Plan within prescribed legal time limits. 

Non-discretionary Matching Contributions 

Non-discretionary matching contributions will be computed by your Employer based on your eligible compensation contributed to the Plan each
Plan Year. 
  

	 	a.	Safe Harbor Matching Contributions 

 Your Employer has elected to make matching
contributions to all eligible Participants in an amount equal to 100% of the first three percent of your eligible compensation, and 50% of the next two percent of your eligible compensation, contributed to the Plan as Deferral Contributions. 

These contributions satisfy certain Internal Revenue Code requirements and eliminate the need for the Plan to perform certain
non-discrimination annual tests. You will be 100% vested in these contributions when made. These contributions may be distributed under the same circumstances which allow your Deferral Contributions to be distributed (i.e., death, disability,
separation from service, and termination of the plan without the establishment of a successor plan) but you may not request a hardship withdrawal of these contributions. Your Employer will provide written notice to you describing your rights and
obligations under the Plan generally 30 days to 90 days prior to the beginning of Plan Years for which these contributions will be made. If you become eligible to participate during the Plan Year, the notice will be provided no more than 90 days
before you become eligible. 
  

	 	5.	Discretionary Nonelective Contributions 

 Your Employer may make discretionary
nonelective contributions in an amount to be determined by the Board of Directors for each Plan Year. You must be employed as of the last day of the Plan Year to be eligible for any nonelective contributions that may be made for that Plan Year. You
do not need to satisfy this requirement if you die (including death while performing Qualified Military Service), become disabled or retire during the Plan Year. 
  

	 	a.	Percentage of Compensation 

 Discretionary nonelective contributions, if any, made to the
Plan by your Employer will be allocated to your Account in the ratio that your eligible compensation bears to the total eligible compensation paid to all eligible Participants. 

 

	 	6.	Other Contributions and Limitations 

  

	 	a.	Qualified Nonelective Contributions 

 Your Employer may designate all or a portion of any
nonelective contributions for a Plan Year as “qualified nonelective contributions” and allocate them to certain Non-Highly Compensated Employees to help the Plan pass one or more annually required Internal Revenue Code non-discrimination
test(s). You will be 100% vested in these contributions and may not request a hardship withdrawal of these contributions. 
  

	 	b.	Limit on Contributions 

 Federal law requires that amounts contributed by you and on your
behalf by your Employer for a given limitation year generally may not exceed the lesser of: 
 $53,000 (or such amount as may be prescribed
by the Secretary of the Treasury); or 
 100.00% of your annual compensation. 

The limitation year for purposes of applying the above limits is the twelve month period ending December 31st. Contributions under this
Plan, along with Employer contributions under any other Employer-sponsored defined contribution plans, may not exceed the above limits. If this does occur, then excess contributions in your Account may be forfeited or refunded to you based on the
provisions of the Plan document. You will be notified by the Plan Administrator if you have any excess contributions. Income tax consequences may apply on the amount of any refund you receive. 

  

					
	  

	 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation 42325
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	 	7.	Rollover Contributions 

 You can roll over part or all of an eligible
rollover distribution you receive from an eligible retirement plan into this Plan even if you have not yet satisfied the age and service Eligibility requirements described in Section II above; however you will not become a Participant in the Plan
until you have met the Plan’s eligibility and entry date requirements. An eligible retirement plan is a qualified plan under Section 401(a), a 403(a) annuity plan, a 403(b) annuity contract, an eligible 457(b) plan maintained by a
governmental employer, and an individual retirement Account and individual retirement annuity. An eligible rollover distribution includes any distribution from an eligible retirement plan, except any distribution from an individual retirement
Account or an individual retirement annuity consisting of nondeductible contributions or any distribution from a 403(b) annuity contract consisting of after-tax employee contributions. Making Rollover Contributions to the Plan that consist of assets
other than qualified 401(a) plan assets may result in the loss of favorable capital gains or ten year income averaging tax treatment that may otherwise be available with respect to a lump sum distribution to you from the Plan. The loss of this
favorable tax treatment may also occur if you make a Rollover Contribution to the Plan that consists of qualified 401(a) plan assets under certain circumstances. If you may be eligible for this special tax treatment, you should consult your tax
advisor and carefully consider the impact of making a Rollover Contribution to the Plan. 
 The Plan Administrator determines which Rollover
Contributions are acceptable and if any Rollover Contribution fails to meet the requirements of the Plan and must be distributed. If your Rollover Contribution to the Plan is not a direct rollover (i.e., you received a cash distribution from your
eligible retirement plan), then it must be received by the Trustee within 60 days of your receipt of the distribution. Rollover Contributions may only be made in the form of cash, allowable fund shares, or (if the Plan allows new loans in accordance
with the terms of this SPD) promissory notes from an eligible retirement plan. Your Rollover Contributions Account will be subject to the terms of this Plan and will always be fully vested and nonforfeitable. In general, if you receive an eligible
rollover distribution as a surviving spouse of a participant or as a spouse or former spouse who is an “alternate payee” pursuant to a qualified domestic relations order (“QDRO”), you may also make a Rollover Contribution to the
Plan. 
 The Plan will not accept a Rollover Contribution of any amounts attributable to Roth (after-tax deferral) contributions made to
another plan. 
  

IV. INVESTMENTS 

  

	A.	Investments 

 The Employee Retirement Income Security Act of 1974 (ERISA) imposes certain duties on the
parties who are responsible for the operation of the Plan. These parties, called fiduciaries, have a duty to invest Plan assets in a prudent manner. However, an exception exists for plans that comply with ERISA Section 404(c) and permit a
Participant to exercise control over the assets in his/her Account and choose from a broad range of investment alternatives. This Plan is intended to be a Section 404(c) plan. To the extent that you have directed the investment of assets in
your Account under the Plan, you are responsible for the investment decisions you made relating to those assets and the Plan fiduciaries are not responsible for any losses resulting from your investment instructions. To assist you in making informed
investment decisions, your Plan Administrator is required to provide you with certain disclosures required under the Department of Labor’s participant disclosure regulation (See DOL Regulation §2550.404a-5) initially and on an annual
basis. You should contact your Plan Administrator with any questions regarding these disclosures. Fidelity is assisting your Plan Administrator in complying with this regulation and will make this disclosure notice available for you to review and
access via Fidelity’s website. 
  

	B.	Fidelity® Portfolio Advisory Service at Work 


Fidelity® Portfolio Advisory Service at Work (the “Service”) is a managed account service
that invests your workplace savings plan Account in one of several model portfolios created from a mix of your plan’s eligible investment options. The Service is managed by Strategic Advisers, Inc., a registered investment adviser and a
Fidelity Investments company. The investment options selected are spread among broadly diversified investment types designed to help enhance growth and manage risk. When you enroll in the Service, you are assigned to a model portfolio based on
either your investment time horizon, or on your financial situation, risk tolerance, and investment time horizon, depending upon what you choose during enrollment. Once enrolled, your current workplace savings account balance will be reallocated to
align with the investment allocation of your assigned model portfolio; future contributions will also be invested according to this model portfolio. 

  

					
	  

	 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation 42325
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 While enrolled in the Service, you are delegating the ongoing management of your Account to the Service. In
return for ongoing management, your account will incur an advisory fee for the Service as described in the Pricing Supplement. This fee will be paid from your Account. You will not be able to make any exchanges among investment options or otherwise
direct or restrict the management of your account. The Service will allocate and, when appropriate, reallocate the assets in your Account to ensure that it stays in balance with the model portfolio’s current mix of investments. Whenever your
Account is reallocated or rebalanced to fit your model portfolio, you will receive a confirmation detailing the transactions. You will also receive prospectuses for any investment option you did not previously own. 

For more information regarding Fidelity® Portfolio Advisory Service at Work, or to enroll, log onto
NetBenefits® at https://netbenefits.fidelity.com/pas or call a Fidelity Representative at 866-811-6041. 
  


	C.	Statement of Account 

 The assets in the Plan are invested in available investment options and a separate
Account is established for each Participant who receives and/or makes a contribution. The value of your Account is updated each business day to reflect any contributions, exchanges between investment options, investment earnings or losses for each
investment option and withdrawals. Your account statement is available online through NetBenefits®, you can view and print a statement for any time period up to 24 previous months. A statement
is also available to be automatically mailed to you every three months. You can initiate these mailings by logging on to NetBenefits® and selecting Mail Preferences under the Accounts tab.

  

V. VESTING 


The term “vesting” refers to your nonforfeitable right to the money in your Account. You receive vesting credit for the number of years that you
have worked for your Employer. 
 If you terminate your employment with your Employer, you may be able to receive a portion or all of your Account based on
your vested percentage. You are always 100% vested in your Rollover Contributions, Employer Nonelective Contributions, After-Tax Contributions, Qualified Nonelective Contributions, Deferral Contributions, Safe Harbor Matching Employer Contributions
and any earnings thereon. 
  

	A.	Additional Vesting Schedule 

 Employees who are members of certain class(es), specified below, receive a
different vesting schedule for the below-specified contribution: 
 Your Pre 5/1/05 ER Match contributions will be subject to the vesting schedule appearing
immediately below if you are a member of the following class: The following vesting schedule applies to Participants who were terminated or retired before 5/1/05. 
  

			
	 Years of Service
	  	 Vesting Percentage

	 less than 2
	  	0
	 2
	  	20.00
	 3
	  	40.00
	 4
	  	60.00
	 5
	  	80.00
	 6
	  	100.00
	 7
	  	100.00


  

					
	  

	 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation 42325
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VI. IN SERVICE WITHDRAWALS AND LOANS


 You may contact Fidelity to take a withdrawal or loan from the Plan. The amount of any taxable withdrawal other than the return
of your after-tax contributions that is not rolled over into an Individual Retirement Account or another qualified employer retirement plan will be subject to Federal and state, if applicable, income taxes. In general, the amount of any taxable
withdrawal that is not rolled over into an Individual Retirement Account or another qualified employer retirement plan will be subject to 20% Federal Income Tax and any applicable State Income Tax. A 10% Internal Revenue Code early withdrawal
penalty tax may apply to the amount of your withdrawal if you are under the age of 59 1⁄2 and do not meet one of the Internal Revenue Code exceptions. 

The following types of withdrawals are available under the Plan: 
  

	A.	Hardship Withdrawals 

 As an Employee, you may apply to withdraw certain contributions to satisfy
specific and heavy financial needs. In accordance with Internal Revenue Service regulations, you must first exhaust all other assets reasonably available to you prior to obtaining a hardship withdrawal. This includes obtaining any in-service
withdrawal(s) available from your Account and a loan from this Plan and any other qualified plan maintained by your Employer. Your Deferral Contributions to this Plan, and any other Employer-sponsored qualified or non-qualified plan, will be
suspended for six months after your receipt of the hardship withdrawal. The minimum hardship withdrawal is $500. Hardship withdrawals will be subject to the 10% nonperiodic income tax withholding rate unless you elect out of the withholding. 

If you qualify, you may apply for a hardship withdrawal to satisfy the following needs: (1) medical expenses for you, your spouse, children, dependents
or a primary beneficiary designated by you under the Plan; (2) the purchase of your principal residence; (3) to prevent your eviction from, or foreclosure on, your principal residence; (4) to pay for post-secondary education expenses
(tuition, related educational fees, room and board) for you, your spouse, children, dependents or a primary beneficiary designated by you under the Plan for the next twelve months; (5) to make payments for burial or funeral expenses for your
deceased parent, spouse, child, dependent or a primary beneficiary designated by you under the Plan; (6) to pay expenses for the repair of damage to your principal residence that would qualify for the casualty deduction under Section 165
of the Internal Revenue Code (without regard to whether the loss exceeds 10% of adjusted gross income); or any other immediate and heavy financial need as determined based on Internal Revenue Service regulations. 

Contributions available to withdraw under the terms of this section are: 
  

	 	•	 	Employee Deferral 

  

	B.	Withdrawals After Age 70 1⁄2 


Starting in the calendar year in which you reach age 70 1⁄2, you may
elect to receive distributions calculated in the same manner as Minimum Required Distributions. For more information, please refer to the paragraph so entitled under the Distributable Events subsection of this SPD’s section on Distribution of
Benefits below. 
  

	C.	Withdrawals After Normal Retirement Age 

 You may elect to withdraw your vested Account balance after you
reach the Plan’s normal retirement age, 65.00, or delay it until you retire. Notwithstanding the above, by law certain contributions including employee deferral, qualified matching, safe harbor matching, qualified nonelective, and safe harbor
nonelective contributions cannot be withdrawn prior to age 59 1⁄2. 
  

	D.	Withdrawals of After-Tax Contributions 

 If you have previously made after-tax contributions then you may
elect to withdraw all or a portion of your contributions. There is no limit on the number of withdrawals of this type. 
  

	E.	Withdrawals of Qualified Voluntary Employee Contributions 

 Prior to 1987, the Plan allowed you to make
qualified voluntary employee contributions. These were tax deductible Individual Retirement Account contributions that were contributed to the Plan. You may elect while you are employed by your Employer to withdraw all or a portion of your qualified
voluntary employee contributions Account. 
  

	F.	Withdrawals of Rollover Contributions 

 If you have a balance in your rollover contributions Account, you
may elect to withdraw all or a portion of it. There is no limit on the number of withdrawals of this type. 

  

					
	  

	 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation 42325
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	G.	Withdrawal for Participants Performing Qualified Military Service 

 If you are performing Qualified
Military Service, you may elect to withdraw your Deferral Contributions, Safe Harbor Matching contributions and Qualified Nonelective Contributions during your active duty period. You will be suspended from making any contributions for 6 months
following the distribution and the withdrawal may be subject to the 10% early withdrawal penalty tax. 
  

	H.	Participant Loans 

 Loans from your vested Account balance shall be made available to all qualifying
Participants on a reasonably equivalent basis. Loans are not considered distributions and are not subject to Federal or state income taxes, provided they are repaid as required. While you do have to pay interest on your loan, both the principal and
interest are deposited in your Account. You can obtain more information about loans in the Plan’s Loan Procedures supplied by your Plan Administrator (which may be attached at the end of this Summary Plan Description). 

 

VII. DISTRIBUTION OF BENEFITS 


 

	A.	Eligibility For Benefits 

 A distribution can be made to you if you request one due to your disability,
retirement or termination of employment from your Employer and any Related Employer. Your Beneficiary or Beneficiaries may request a distribution of your vested Account balance in the event of your death. The value of your Account balance will
continue to increase or decrease, as appropriate, based on the investment returns until it is distributed. 
 You may defer receipt of your distribution
until a later date. However, you cannot postpone it if your vested Account balance is $5,000 or less in which case the Plan Administrator will direct the Trustee that any amount exceeding $1,000 be distributed to an Individual Retirement Account or
Annuity (“IRA”) for your benefit. If your vested Account balance is $1,000 or less, the Plan Administrator will direct the Trustee to distribute it to you as a lump sum distribution without your consent. Prior to such distribution you
still have the right to request that the amount be distributed directly to you in the form of a lump sum payment or to request that it be rolled-over to a different IRA provider or another retirement plan eligible to receive rollover contributions.

 If you fail to request a different treatment of an automatic distribution under the Plan’s Cash-Out Provision, your distribution will be paid over
to an IRA provider chosen by the Plan Administrator and invested in a product designed to preserve the principal of that distribution while still providing a reasonable rate of return and preserving liquidity. The fees assessed against this newly
established IRA by its provider will be paid by the participant. 
 If you have questions regarding the Plan’s automatic rollover rules, the
Plan’s IRA provider for automatic rollovers, or the fees and expenses applicable to the automatic rollover IRA, please contact the Plan Administrator. Your consent will be required for any distribution if your vested Account balance is greater
than $5,000. 
 You should consult with your tax advisor to determine the financial impact of your situation before you request a distribution. You may
apply for a distribution by calling the Fidelity Retirement Benefits Line at 1-800-835-5097. All telephone calls will be recorded. Most distributions have been pre-approved by the Plan Administrator. 

 

	B.	Distributable Events 

 You are eligible to request a distribution of your vested Account balance based on
any of the following events: 
  

	 	1.	Death 

 If you are a Participant in the Plan and die, your vested Account balance, if
any, will be paid to your designated Beneficiary or Beneficiaries. You may designate a Beneficiary or Beneficiaries online at www.401k.com on a designation form that must be properly signed and filed with the Plan Administrator. If you are
married and want to designate someone other than your spouse as your primary Beneficiary, you must print a form from the website and your spouse must consent to this designation by signing the form. His/her signature must be witnessed by a Plan
representative or a notary public. Alternatively, if you do not wish to designate your Beneficiary online, you may contact the Plan Administrator to obtain a paper designation of beneficiary form or by contacting Fidelity at 1-800-835-5097. 

  

					
	  

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	 	2.	Disability 

 Under your Plan, you are disabled if you meet the following criteria: you
are eligible for disability benefits under your Employer’s Long-Term Disability Plan, or you are determined disabled by a physician selected by the Plan Administrator. 

If you become disabled while you are employed by your Employer or a Related Employer and then terminate your employment, you will become 100%
vested in your Account balance if you are not already fully vested. You may request a distribution of your Account balance only if you terminate your employment with your Employer or Related Employer. 

 

	 	3.	Retirement 

 You do not have to terminate your employment with your Employer just because
you attain your normal retirement age of 65.00. You will automatically become 100% vested in your Account balance upon meeting the retirement requirements. 
  

	 	4.	Minimum Required Distributions 

 You are required by law to receive a minimum required
distribution from the Employer’s Plan, unless you are a five percent owner of the Employer, no later than April 1 of the calendar year following the calendar year you turn 70 1⁄2 or terminate your employment, whichever is later. If you are a five percent owner of the Employer, you must start receiving your distribution no later than April 1 of the calendar year following the
calendar year you turn 70 1⁄2. Once you start receiving your minimum required distribution, you should receive it at least annually until all assets in your
Account are distributed. If you have any questions about your minimum required distributions, please contact your Plan Administrator. 
  

	 	5.	Termination of Employment 

 Generally, if you terminate your employment with your
Employer and all Related Employers, you may elect to receive a distribution of your vested Account balance from the Plan. 
  

	C.	Form of Payments 

  

	 	1.	Lump Sum Distributions 

 Your entire vested Account balance will be paid to you in a
single distribution or other distribution that you elect. 
  

	 	2.	Non-rollover Distribution 

 Any distribution paid directly to you will be subject to
mandatory Federal income tax withholding of 20% of the taxable distribution and the remaining amount will be paid to you. You cannot elect out of this tax withholding but you can avoid it by electing a direct rollover distribution as described
below. This withholding is not a penalty but a prepayment of your Federal income taxes. 
 You may rollover the taxable distribution you
receive to an Individual Retirement Account (IRA) or your new employer’s qualified plan, if it accepts rollover contributions and you roll over this distribution within 60 days after receipt. You will not be taxed on any amounts timely rolled
over into the IRA or your new employer’s qualified Plan until those amounts are later distributed to you. Any amounts not rolled over may also be subject to certain early withdrawal penalties prescribed under the Internal Revenue Code. 

 

	 	3.	Direct Rollover Distribution 

 As an alternative to a non-rollover distribution, you may
request that your entire distribution be rolled directly into a Fidelity IRA, a non-Fidelity IRA or to your new employer’s qualified plan if it accepts rollover contributions. Federal income taxes will not be withheld on any direct rollover
distribution. 
 When you call the Fidelity Retirement Benefits Line to take a withdrawal, you will be asked whether you will be rolling over
any part of your distribution. If you wish to have any part of your distribution rolled over to an IRA or another qualified plan, you will need to speak to a Fidelity representative. 

 

	 	a.	Rollover to Fidelity IRA - You will be asked whether you have received a Fidelity Service for Exiting Employees (‘SEE’) Rollover IRA Kit. If you haven’t received a SEE Kit, the Fidelity
representative will send out one. Then, your rollover request will be entered on the system and will pend (for up to 90 days) until the Rollover IRA Account is set up. You must return the signed Rollover IRA application to Fidelity’s Retail
Customer Service Department (in Dallas, TX) in order to set up the Rollover IRA Account. Once the Rollover IRA account has been set up, your vested Account balance will be transferred to the Fidelity Rollover IRA. 


  

					
	  

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	 	b.	Rollover to Non-Fidelity IRA - A check will be issued by the Trustee payable to the IRA custodian or trustee for your benefit. The check will contain the notation ‘Direct Rollover’ and it will be mailed
directly to you. You will be responsible for forwarding it on to the custodian or trustee. You must provide the Plan Administrator with complete information to facilitate your direct rollover distribution. 


 

	 	c.	Rollover to your New Employer’s Qualified Plan – You should check with your new employer to determine if its plan will accept rollover contributions. If allowed, then a check will be issued by the
Trustee payable to the trustee of your new employer’s qualified plan. The check will contain the notation ‘Direct Rollover’ and it will be mailed directly to you. You will be responsible for forwarding it on to the new trustee. You
must provide the plan Administrator with complete information to facilitate your direct rollover distribution. 

  

	 	4.	Combination Non-rollover Distribution and Direct Rollover Distribution 

 You may request
that part of your distribution be paid directly to you and the balance rolled into an IRA, your new employer’s retirement plan, or a 403(a) annuity. Any part of the distribution paid directly to you will be subject to the Federal income tax
withholding rules referred to in subsection a) above and any direct rollover distribution will be made in accordance with section b) above. Your direct rollover distribution must be at least $500. 

You will pay income tax on the amount of any taxable distribution you receive from the Plan unless it is rolled into an IRA or
your new employer’s qualified Plan. A 10% IRS premature distribution penalty tax may also apply to your taxable distribution unless it is rolled into an IRA or another qualified plan. The 20% Federal income tax withheld under this section may
not cover your entire income tax liability. In the case of a combination distribution, if any portion of the eligible rollover distribution consists of after-tax contributions, the amount paid directly to you will be considered to consist completely
of after-tax contributions before any after-tax contributions are attributed to the portion paid as a direct rollover. Consult with your tax advisor for further details. 
  

	 	5.	Installment Distributions 

 Your vested Account balance will be paid to you in
substantially equal amounts over a period of time. You may elect annual or more frequent installments. You may elect to receive a lump sum distribution after you start to receive installment distributions, by completing the appropriate
documentation. The direct rollover distribution rules referred to in the lump sum distribution section also apply to installment distributions. 

 

VIII. MISCELLANEOUS INFORMATION 


 

	A.	Benefits Not Insured 

 Benefits provided by the Plan are not insured or guaranteed by the Pension Benefit
Guaranty Corporation under Title IV of the Employee Retirement Income Security Act of 1974 because the insurance provisions under ERISA are not applicable to this particular Plan. You will only be entitled to the vested benefits in your Account
based upon the provisions of the Plan and the value of your Account will be subject to investment gains and losses. 
  

	B.	Attachment of Your Account 

 Your Account may not be attached, garnished, assigned or used as collateral
for a loan outside of this Plan except to the extent required by law. Your creditors may not attach, garnish or otherwise interfere with your Account balance except in the case of a proper Internal Revenue Service tax levy or a Qualified Domestic
Relations Order (QDRO). A QDRO is a special order issued by the court in a divorce, child support or similar proceeding. In this situation, your spouse, or former spouse, or someone other than you or your Beneficiary, may be entitled to a portion or
all of your Account balance based on the court order. Participants and Beneficiaries can obtain, without a charge, a copy of QDRO procedures either by accessing the qdro.fidelity.com website, or by calling Fidelity. A fee will be assessed for each
new QDRO order, please reference the QDRO procedures documentation for a description of the fee. 
  

	C.	Plan-to-Plan Transfer Of Assets 

 The Plan Sponsor may direct the Trustee to transfer all or a portion of
the assets in the Account of designated Participants to another plan or plans maintained by your Employer or other employers subject to certain restrictions. The plan receiving the Trust Funds must contain a provision allowing the transfer and
preserve any benefits required to be protected under existing laws and regulations. In addition, a Participant’s vested Account balance may not be decreased as a result of the transfer to another plan. 

  

					
	  

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	D.	Plan Amendment 

 The Plan Sponsor reserves the authority to amend certain provisions of the Plan by
taking the appropriate action. However, any amendment may not eliminate certain forms of benefits under the Plan or reduce the existing vested percentage of your Account balance derived from Employer contributions. 

 

	E.	Plan Termination 

 The Plan Sponsor has no legal or contractual obligation to make annual contributions
to or to continue the Plan. The Plan Sponsor reserves the right to terminate the Plan at any time by taking appropriate action as circumstances may dictate, with the approval of the Board of Directors. In the event the Plan should terminate, each
Participant affected by such termination shall have a vested interest in his Account of 100 percent. The Plan Administrator will facilitate the distribution of Account balances in single lump sum payments to each Participant in accordance with Plan
provisions until all assets have been distributed by the Trustee. 
  

	F.	Interpretation of Plan 

 The Plan Administrator has the power and discretionary authority to construe the
terms of the Plan based on the Plan document, existing laws and regulations and to determine all questions that arise under it. Such power and authority include, for example, the administrative discretion necessary to resolve issues with respect to
an Employee’s eligibility for benefits, credited services, disability, and retirement, or to interpret any other term contained in Plan documents. The Plan Administrator’s interpretations and determinations are binding on all Participants,
Employees, former Employees, and their Beneficiaries. 
  

	G.	Electronic Delivery 

 This Summary Plan Description and other important Plan information may be delivered
to you through electronic means. This Summary Plan Description contains important information concerning the rights and benefits of your Plan. If you receive this Summary Plan Description (or any other Plan information) through electronic means you
are entitled to request a paper copy of this document, free of charge, from the Plan Administrator. The electronic version of this document contains substantially the same style, format and content as the paper version. 

 

IX. INTERNAL REVENUE CODE TESTS 


 

	A.	Non-Discrimination Tests 

 The Plan must pass Internal Revenue Code non-discrimination
tests as of the last day of each Plan Year to maintain a qualified Plan. These tests are intended to ensure that the amount of contributions under the Plan do not discriminate in favor of Highly Compensated Employees. In order to meet the tests,
your Employer encourages participation from all eligible Employees. Depending upon the results of the tests, the Plan Administrator may have to refund Deferral Contributions contributed to the Plan and vested matching contributions to certain Highly
Compensated Employees, as determined under Internal Revenue Service regulations. Deferral Contributions or matching contributions will be refunded to you from applicable investment options. You will be notified by the Plan Administrator if any of
your contributions will be refunded to you. The Plan may be subject to additional types of non-discrimination testing depending upon the benefits available under the Plan. 
  

	B.	Top Heavy Test 

 The Plan may be subject to the Internal Revenue Code “top-heavy” test. In that
circumstance, the Plan Administrator tests this Plan, together with any other Employer-sponsored qualified plans that cover one or more key employees, to ensure that no more than 60% of the benefits are for key employees. If this Plan is top-heavy,
then your Employer may be required to make a minimum annual contribution on your behalf to this, or another Employer sponsored plan, if you are employed as of Plan Year-end. You will be vested for these contributions in accordance with the vesting
shown for nonelective contributions within the Vesting section of this SPD. 

  

					
	  

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X. PARTICIPANT RIGHTS 


 

	A.	Claims 

  

	 	1.	Claims Procedures 

 A plan participant or beneficiary may make a claim for benefits under
the Plan. Any such claim you file must be submitted to the Plan Administrator in a form and manner acceptable to the Plan Administrator. Contact your Plan Administrator for more information. Generally, the Plan Administrator will provide you with
written notice of the disposition of your claim within 90 days after receipt of your claim by the Plan. If the Plan Administrator determines that special circumstances require an extension of time to process your claim, the Plan Administrator will
furnish written notice of the extension to the claimant prior to the expiration of the initial 90-day period. In no event shall such extension exceed a period of 90 days from the end of the initial period the Plan Administrator had to dispose of
your claim. The extension notice shall indicate the special circumstances requiring an extension of time and the date by which the Plan expects to render the benefit determination. (A different procedure applies for disability related claims –
see the next paragraph). In the event the claim is denied, the Plan Administrator will disclose to you in writing the specific reasons for the denial, a reference to the specific provisions of the Plan on which the determination is based, a
description of additional material or information necessary for the claimant to perfect the claim and an explanation of why it is required, and information about the steps that must be taken to submit a timely request for review, including a
statement of your right to bring a civil action under Section 502(a) of ERISA following as adverse determination upon review. 
 If your
claim concerns disability benefits under the Plan, the Plan Administrator must notify you in writing within 45 days after you have filed your claim in order to deny it. If special circumstances require an extension of time to process your claim, the
Plan Administrator must notify you before the end of the 45-day period that your claim may take up to 30 days longer to process. If special circumstances still prevent the resolution of your claim, the Plan Administrator may then only take up to
another 30 days after giving you notice before the end of the original 30-day extension. If the Plan Administrator gives you notice that you need to provide additional information regarding your claim, you must do so within 45 days of that notice.

  

	 	2.	Review Procedures (For Appeal of an Adverse Benefit Determination) 

 You may appeal the
denial of your claim made under the procedures described above within 60 days after the date following your receipt of notification of the denied claim (a different procedure applies for disability related claims – see the next paragraph) by
filing a written request for review with the Plan Administrator. This written request may include comments, documents, records, and other information relating to your claim for benefits. You shall be provided, upon your request and free of charge,
reasonable access to, and copies of, all documents, records, and other information relevant to your claim for benefits. The review will take into account all comments, documents, records, and other information submitted by you relating to the claim,
without regard to whether such information was submitted or considered in the initial benefit determination. Generally, the Plan Administrator will provide you with written notice of the disposition of your claim on review within 60 days after
receipt of your appeal by the Plan. If the Plan Administrator determines that special circumstances require an extension of time to process your claim, the Plan Administrator will furnish written notice of the extension to the claimant prior to the
expiration of the initial 60-day period. In no event shall such extension exceed a period of 60 days from the end of the initial period the Plan Administrator had to dispose of your claim. The extension notice shall indicate the special
circumstances requiring an extension of time and the date by which the Plan expects to render the benefit determination. (A different procedure applies for disability related claims – see the next paragraph). In the event the claim on review is
denied, the Plan Administrator will disclose to you in writing the specific reasons for the denial, a reference to the specific provisions of the Plan on which the determination is based, a description of additional material or information necessary
for the claimant to perfect the claim and an explanation of why it is required, and information about the steps that must be taken to submit a timely request for review, including a statement of your right to bring a civil action under
Section 502(a) of ERISA following as adverse determination upon review. 
 If your initial claim was for disability benefits under the
Plan and has been denied by the Plan Administrator, you have 180 days from the date you receive notice of your denial in which to appeal that decision. Your review will be handled completely independently of the findings and decision made regarding
your initial claim and will be processed by an individual who is not a subordinate of the individual who denied your initial claim. If your claim requires medical judgment, the individual handling your appeal will consult with a medical professional
who was not consulted regarding your initial claim and who is not a subordinate of anyone consulted regarding your initial claim and identify that medical professional to you. The Plan Administrator must notify you in writing within 45 days after
you have filed your claim in order to deny it. If the Plan Administrator determines that special circumstances require an extension of time to process 

  

					
	  

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your claim, the Plan Administrator will furnish written notice of the extension to the claimant prior to the expiration of the initial 45-day period. In no event shall such extension exceed a
period of 45 days from the end of the initial period the Plan Administrator had to dispose of your claim. The extension notice shall indicate the special circumstances requiring an extension of time and the date by which the Plan expects to render
the benefit determination. 
 The Plan Administrator shall notify you of the Plan’s benefit determination on review within a reasonable
period of time, but not later than 60 days after receipt of your request for review by the Plan, unless the Plan Administrator determines that special circumstances require an extension of time for processing the claim. If the Plan Administrator
determines that an extension of time for processing is required, written notice of the extension shall be furnished to you prior to the termination of the initial 60-day period. In no event shall such extension exceed a period of 60 days from the
end of the initial period. The extension notice shall indicate the special circumstances requiring an extension of time and the date by which the Plan expects to render the determination on review. 

The Plan Administrator shall provide you with written notification of a plan’s benefit determination on review. In the case of an adverse
benefit determination, the notification shall set forth, in a manner calculated to be understood by you – the specific reason or reasons for the adverse determinations, reference to the specific plan provisions on which the benefit
determination is based, a statement that you are entitled to receive, upon your request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to your claim for benefits. 

 

	B.	Statement of ERISA Rights 

 As a Participant in the Plan, you are entitled to certain rights and
protections under ERISA. ERISA provides that all Plan Participants shall be entitled to: 
  

	 	1.	Receive Information About Your Plan and Benefits 

  

	 	•	 	Examine, without charge, at the Plan Administrator’s office and at other specified locations, such as worksites and union halls, all documents governing the Plan, including insurance contracts and collective
bargaining agreements, and a copy of the latest annual report (Form 5500 Series) filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration. 


 

	 	•	 	Obtain, upon written request to the Plan Administrator, copies of documents governing the operation of the plan, including insurance contracts and collective bargaining agreements, and copies of the latest annual report
(Form 5500 Series) and updated Summary Plan Description. The Plan Administrator may make a reasonable charge for the copies. 

  

	 	•	 	Receive a summary of the Plan’s annual financial report. The Plan Administrator is required by law to furnish each Participant with a copy of this Summary Annual Report each year. 


 

	 	•	 	Obtain a statement telling you the fair market value of your vested, accrued benefit, as of the date for which the benefits are reported, if you stop working under the Plan now. If you do not have a right to a benefit
under the plan, the statement will tell you how many more years you have to work to get a right to a benefit. This statement must be requested in writing and is not required to be given more than once every twelve (12) months. The Plan must
provide the statement free of charge. 

  

	 	2.	Prudent Actions by Fiduciaries 

 In addition to creating rights for Plan Participants,
ERISA imposes duties upon the people who are responsible for the operation of the employee benefit plan. The people who operate your Plan, called “fiduciaries” of the Plan, have a duty to do so prudently and in the interest of you, other
Plan Participants and Beneficiaries. No one, including your Employer, your union, or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a retirement benefit or exercising your rights under
ERISA. 
  

	 	3.	Enforce Your Rights 

 If your claim for a benefit under the Plan is denied or ignored, in
whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules. Under ERISA, there are steps you can take to enforce
the above rights. For instance, if you request a copy of plan documents or the latest annual report from the Plan and do not receive them within 30 days, you may file suit in a Federal court. The Plan’s agent for legal service of process in the
event of a lawsuit is the Plan Administrator. In such a case, the court may require the Plan Administrator to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons
beyond the control of the Plan Administrator. 

  

					
	  

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 If you have a claim for benefits which is denied or ignored, in whole or in part, you may file
suit in a state or Federal court. In addition, if you disagree with the Plan’s decision or lack thereof concerning the qualified status of a domestic relations order, you may file suit in Federal court. If it should happen that Plan fiduciaries
misuse the Plan’s money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a Federal court. The court will decide who should pay court costs and
legal fees. If you are successful, the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim frivolous. 

 

	 	4.	Assistance with Your Questions 

 If you have any questions about your Plan, you should
contact the Plan Administrator. If you have any questions about this statement or your rights under ERISA, or if you need assistance in obtaining documents from the Plan Administrator, you should contact the nearest office of the Employee Benefits
Security Administration, U.S. Department of Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue N.W.,
Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration. 

 

	C.	When to Bring an Action in Court 

 You may file a lawsuit regarding the denial of an
appeal after following the claims and review procedures above. You must file any lawsuit within 12 months after the date the Plan Administrator issued its final decision on an appeal. If you do not file a claim or exhaust the claims review process
for any reason, any lawsuit must be filed within 12 months of the date of the conduct at issue in the lawsuit (which includes, among other things, the date you became entitled to any Plan benefits at issue in the lawsuit). If you fail to file a
lawsuit within these timeframes, you will lose your right to bring the lawsuit at any later time. 

 

XI. SERVICES AND FEES 


Fees and expenses charged under your Account will impact your retirement savings, and fall into three basic categories. Investment fees are generally
assessed as a percentage of assets invested, and are deducted directly from your investment returns. Investment fees can be in the form of sales charges, loads, commissions, 12b-1 fees, or management fees. Certain of these Investment fees may not
apply depending upon the funds and share classes available in the Plan. You can obtain more information about such fees from the documents (e.g., a prospectus) that describe the investments available under your Plan. Plan administration fees
cover the day-to-day expenses of your Plan for recordkeeping, accounting, legal and trustee services, as well as additional services that may be available under your Plan, such as daily valuation, telephone response systems, internet access to plan
information, retirement planning tools, and educational materials. In some cases, these costs are covered by investment fees that are deducted directly from investment returns. In other cases, these administrative fees are either paid directly by
your Employer, or are passed through to the participants in the Plan, in which case a recordkeeping fee will be deducted from your Account. Transaction-based fees are associated with optional services offered under your Plan, and are charged
directly to your Account if you take advantage of a particular plan feature that may be available, such as a Plan loan. For more information on fees associated with your Account, refer to your Account statement or speak with your Plan Administrator.


  

					
	  

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XII. LOAN PROCEDURES FOR 401(k) Incentive Savings Plan for Salaried and Hourly Employees of Kewaunee Scientific Corporation


  

	 	1.	Loan Application 

 You may apply for a loan by contacting Fidelity. You may apply for
only one loan each calendar year. All loans have been pre-approved by the Plan Administrator based on the criteria outlined in the Plan’s loan procedures. Loans will be allowed for any purpose. A loan set
up fee of $75.00 will be deducted from your Account for each new loan processed. 
  

	 	2.	Loan Amount 

 The minimum loan is $1,000 and the maximum amount is the lesser of one-half
of your vested Account balance or $50,000 reduced by the highest outstanding loan balance in your Account during the prior twelve month period. All of your loans from plans maintained by your Employer or a Related Employer will be considered for
purposes of determining the maximum amount of your loan. Up to 50% of your vested Account balance may be used as collateral for any loan. 
  

	 	3.	Number of Loans 

 You may only have 1 loan outstanding at any given time. If you have an
existing loan you may not apply for another loan until the existing loan is paid in full. 
  

	 	4.	Interest Rate 

 All loans shall bear a reasonable rate of interest as determined by the
Plan Administrator based on the prevailing interest rates charged by persons in the business of lending money for loans which would be made under similar circumstances. The interest rate shall remain fixed throughout the duration of the loan. 

 

	 	5.	Loan Repayments and Loan Maturity 

 All loans must be repaid in level payments through
after-tax payroll deductions on at least a quarterly basis over a five year period unless it is for the purchase of your principal residence in which case the loan repayment period may not extend beyond 10 years from the date of the loan. If
repayment is not made by payroll deduction, a loan shall be repaid in accordance with procedures provided by your Plan Administrator. The level repayment requirement may be waived for a period of one year or less if you are on a leave of absence,
however, your loan must still be repaid in full on the maturity date. If you are on a military leave of absence, the repayment schedule may be waived for the entire length of the time missed on leave. Your loan will accrue interest during this time,
and upon return from a military leave of absence, your loan will be reamortized to extend the length of the loan by the length of the leave. If a loan is not repaid within its stated period, it will be treated as a taxable distribution to you. 

 

	 	6.	Default or Termination of Employment 

 The Plan Administrator shall consider a loan in
default if any scheduled repayment remains unpaid as of the last business day of the calendar quarter following the calendar quarter in which a loan is initially considered past due. In the event of a default, the entire outstanding principal and
accrued interest shall be immediately due and payable. However, if your termination of employment results from a corporate action on the part of your employer and you remain performing the same job after that corporate action, within 60 days of your
termination of employment you may request that the Plan Administrator roll over your loan to your new employer’s retirement plan (if such new plan will accept your loan roll over). Unless you roll over your loan, any default in repayment to the
Plan will result in the treating of the balance due for your loan as a taxable distribution from the Plan. 

  

					
	  

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