Document:

Exhibit 10.9

 

__________, 2017

 

Industrea Acquisition Corp.

1120 Avenue of the Americas, 4th Floor

New York, NY 10036

 

		Re:	Initial
Public Offering

 

Ladies and Gentlemen:

 

This letter (this “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and among Industrea Acquisition Corp., a Delaware corporation (the “Company”), and FBR
Capital Markets & Co. as representative (the “Representative”) of the several underwriters (each,
an “Underwriter” and collectively, the “Underwriters”), relating to an underwritten
initial public offering (the “Public Offering”), of 23,000,000 of the Company’s units
(including up to 3,000,000 units that may be purchased to cover over-allotments, if any) (the “Units”),
each comprised of one share of the Company’s Class A common stock, par value $0.0001 per share (the “Common
Stock”), and one-half of one redeemable warrant. Each whole Warrant (each, a “Warrant”)
entitles the holder thereof to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustment. The Units
will be sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”)
filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”) and the Company
has applied to have the Units listed on The Nasdaq Capital Market. Certain capitalized terms used herein are defined in paragraph
12 hereof.

 

In order to induce the Company and the Underwriters to enter into
the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, each of the undersigned individuals (each, a “Director”
and collectively, the “Directors”), each of whom is a member of the Company’s board of directors
(the “Board”), hereby agrees with the Company as follows:

 

		1.	(a) Each Director agrees to serve as a member of the Board until the earlier of (i) the annual meeting for the year in which
his term expires and until his or her successor has been elected and qualified, (ii) his death, resignation, retirement, disqualification
or removal or (iii) the liquidation of the Company. Membership on the Board shall require adherence to the policies and procedures
adopted by the Board and enforceable upon all directors.

 

(b) Each Director shall, for so long
as he remains a member of the Board, fulfill the duties of a director of a Delaware corporation and, as requested by the Chairman
of the Board and the Chief Executive Officer of the Company, (i) meet with management and/or members of the Board, at dates and
times mutually agreeable to Director and the Company, to discuss any matter involving the Company, the Public Offering or a Business
Combination, and cooperate in the review of such matters, (ii) review and participate in the analysis of all materials regarding
a Business Combination that are provided to the Board by management, (iii) attend due diligence meetings relating to potential
Business Combinations, (iv) participate in road shows relating to the Business Combination, and/or (v) play an active role in the
negotiation, due diligence, structuring, closing and all other processes of any potential Business Combination (collectively, the
“Director Responsibilities”).

 

		2.	(a) As compensation for the Director Responsibilities, the Company shall pay to each Director $50,000
per year, paid monthly.

 

(b) During the term of this Agreement,
the Company shall reimburse each Director on a monthly basis for all reasonable out-of-pocket expenses incurred by each Director
in connection with fulfilling the Director Responsibilities; provided, however, that each Director complies with
the applicable policies, practices and procedures of the Company and submits proper expense reports, receipts or similar documentation
of such expenses as the Company may require.

 

(c) Each Director’s status
during the term of this Agreement shall be that of an independent contractor and not, for any purpose, that of an employee. All
payments and other consideration made or provided to each Director shall be made or provided without withholding or deduction of
any kind, and each Director shall assume sole responsibility for discharging all tax or other obligations associated therewith.

 

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		3.	Each Director agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in connection
with such proposed Business Combination, he shall (i) vote any shares of Capital Stock owned by him in favor of any proposed Business
Combination and (ii) not redeem any shares of Common Stock owned by him in connection with such stockholder approval.

 

		4.	Each Director hereby agrees that in the event that the Company fails to consummate a Business Combination within 24 months
from the closing of the Public Offering, or such later period approved by the Company’s stockholders in accordance with the
Company’s amended and restated certificate of incorporation (the “Charter”), each Director shall
take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly
as reasonably possible but not more than 10 business days thereafter, subject to lawfully available funds therefor, redeem 100%
of the Common Stock sold as part of the Units in the Public Offering (the “Offering Shares”),
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account (as defined below), including
interest earned on the funds held in the Trust Account and not previously released to the Company to pay its franchise and income
taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares,
which redemption will completely extinguish all Public Stockholders’ rights as stockholders (including the right to receive
further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such
redemption, subject to the approval of the Company’s remaining stockholders and the Board, dissolve and liquidate, subject
in each case to the Company’s obligations under Delaware law to provide for claims of creditors and other requirements of
applicable law. Each Director agrees to not propose any amendment to the Charter to modify the substance or timing of the Company’s
obligation to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within 24 months from
the closing of the Public Offering, unless the Company provides its public stockholders with the opportunity to redeem their shares
of Common Stock upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on
deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the
Company to pay its franchise and income taxes, divided by the number of then outstanding Offering Shares.

 

Each Director acknowledges he has no right, title, interest
or claim of any kind in or to any monies held in the Trust Account or any other asset of the Company as a result of any liquidation
of the Company with respect to the Founder Shares held by him. Each Director hereby further waives, with respect to any shares
of Common Stock held by him, if any, any redemption rights he may have in connection with the consummation of a Business Combination,
including, without limitation, any such rights available in the context of a stockholder vote to approve such Business Combination
or a stockholder vote to approve an amendment to the Charter to modify the substance or timing of the Company’s obligation
to redeem 100% of the Offering Shares if the Company has not consummated a Business Combination within the time period set forth
in the Charter or in the context of a tender offer made by the Company to purchase shares of Common Stock (although the Directors
and their respective affiliates shall be entitled to redemption and liquidation rights with respect to any Offering Shares they
hold if the Company fails to consummate a Business Combination within 24 months from the date of the closing of the Public Offering).

 

		5.	During the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, each
Director shall not, without the prior written consent of the Representatives, (i) sell, offer to sell, contract or agree to sell,
hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish
or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the
Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, with respect
to any Units, shares of Common Stock, Founder Shares, Warrants or any securities convertible into, or exercisable, or exchangeable
for, shares of Common Stock owned by him, (ii) enter into any swap or other arrangement that transfers to another, in whole or
in part, any of the economic consequences of ownership of any Units, shares of Common Stock, Founder Shares, Warrants or any securities
convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by him, whether any such transaction is to
be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention to effect any transaction
specified in clause (i) or (ii). Each of the Directors acknowledges and agrees that, prior to the effective date of any release
or waiver, of the restrictions set forth in this paragraph 5 or paragraph 8 below, the Company shall announce the impending release
or waiver by press release through a major news service at least two business days before the effective date of the release or
waiver. Any release or waiver granted shall only be effective two business days after the publication date of such press release.
The provisions of this paragraph will not apply if the release or waiver is effected solely to permit a transfer not for consideration
and the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and for
the duration that such terms remain in effect at the time of the transfer.

 

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		6.	To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 3,000,000 Units
within 45 days from the date of the Prospectus (and as further described in the Prospectus), each Director agrees to forfeit, at
no cost, a number of Founder Shares in the aggregate equal to 3,750 multiplied by a fraction, (i) the numerator of which is 3,000,000
minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator
of which is 3,000,000. The forfeiture will be adjusted to the extent that the over-allotment option is not exercised in full by
the Underwriters so that the Initial Stockholders will own an aggregate of 20.0% of the Company’s issued and outstanding
shares of Capital Stock after the Public Offering.

 

		7.	(a) Each Director hereby agrees not to participate in the formation of, or become an officer or director of, any other any
other blank check company such as the Company until the Company has entered into a definitive agreement regarding an initial Business
Combination or unless the Company has failed to complete a Business Combination within the time period set forth in the Charter.

 

(b) Each Director hereby agrees and acknowledges that:
(i) the Underwriters and the Company would be irreparably injured in the event of a breach by such Director of his obligations
under paragraphs 3, 4, 5, 6, 7(a), 8(a), 8(b) and 10, as applicable, of this Letter Agreement (ii) monetary damages may not be
an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any
other remedy that such party may have in law or in equity, in the event of such breach.

 

		8.	(a) Each Director agrees that he shall not Transfer any Founder Shares (or shares of Common Stock issuable upon conversion
thereof) until the earlier of (A) one year after the completion of the Company’s initial Business Combination or (B) subsequent
to the Business Combination, (x) if the last sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted for
stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day
period commencing at least 150 days after the Company’s initial Business Combination or (y) the date on which the Company
completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of the
Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other property (the
“Founder Shares Lock-up Period”).

 

(b) Each Director agrees that he shall not Transfer any
Private Placement Warrants (or shares of Common Stock issued or issuable upon the exercise of the Private Placement Warrants),
until 30 days after the completion of a Business Combination (the “Private Placement Warrants
Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-up
Periods”).

 

(c) Notwithstanding the provisions set forth in paragraphs
8(a) and (b), Transfers of the Founder Shares, Private Placement Warrants and shares of Common Stock issued or issuable upon the
exercise or conversion of the Private Placement Warrants or the Founder Shares and that are held by any Director or any of their
permitted transferees (that have complied with this paragraph 8(c)), are permitted (a) to the Company’s officers or directors,
any affiliate or family member of any of the Company’s officers or directors or any affiliate of Industrea Alexandria LLC
(the “Sponsor”) or to any member(s) of the Sponsor or any of their affiliates; (b) in the case of an
individual, as a gift to such person’s immediate family or to a trust, the beneficiary of which is a member of such person’s
immediate family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws
of descent and distribution upon death of such person; (d) in the case of an individual, pursuant to a qualified domestic relations
order; (e) by private sales or transfers made in connection with any forward purchase agreement or similar arrangement or in connection
with the consummation of a Business Combination at prices no greater than the price at which the shares or warrants were originally
purchased; (f) by virtue of the laws of the State of Delaware or the Sponsor’s limited liability company agreement upon dissolution
of the Sponsor; (g) in the event of the Company’s liquidation prior to the completion of a Business Combination; or (h) in
the event that, subsequent to the consummation of a Business Combination, the Company consummates a liquidation, merger, capital
stock exchange or other similar transaction that results in all of the Company’s stockholders having the right to exchange
their shares of Common Stock for cash, securities or other property; provided, however, that in the case of clauses
(a) through (f), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer
restrictions herein.

 

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		9.	Each Director represents and warrants that he has never been suspended or expelled from membership in any securities or commodities
exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each Director’s
biographical information furnished to the Company (including any such information included in the Prospectus) is true and accurate
in all respects and does not omit any material information with respect to the Director’s background. Each Director’s
questionnaire furnished to the Company is true and accurate in all respects. Each Director represents and warrants that: he is
not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist
or refrain from any act or practice relating to the offering of securities in any jurisdiction; he has never been convicted of,
or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another
person, or (iii) pertaining to any dealings in any securities and he is not currently a defendant in any such criminal proceeding.

 

		10.	Except as disclosed in the Prospectus, neither the Sponsor nor any officer, nor any affiliate of the Sponsor or any officer,
nor any director of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies in
respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order to effectuate,
the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is), other
than the following, none of which will be made from the proceeds held in the Trust Account prior to the completion of the initial
Business Combination: fees paid pursuant to Section 2(a) of this Letter Agreement, repayment of a loan and advances up to an aggregate
of $300,000 made to the Company by the Sponsor; payment to an affiliate of the Sponsor for certain office space, utilities and
secretarial and administrative support as may be reasonably required by the Company for a total of $10,000 per month; payment of
$50,000 per year to each of our independent directors for services rendered as board members; reimbursement for any reasonable
out-of-pocket expenses related to identifying, investigating and consummating an initial Business Combination, and repayment of
loans, if any, and on such terms as to be determined by the Company from time to time, made by the Sponsor or any of the Company’s
officers or directors to finance transaction costs in connection with an intended initial Business Combination, provided
that, if the Company does not consummate an initial Business Combination, a portion of the working capital held outside the Trust
Account may be used by the Company to repay such loaned amounts so long as no proceeds from the Trust Account are used for such
repayment. Up to $1,500,000 of such loans may be convertible into warrants at a price of $1.00 per warrant at the option of the
lender. Such warrants would be identical to the Private Placement Warrants, including as to exercise price, exercisability and
exercise period. 

 

		11.	Each Director has full right and power, without violating any agreement to which he is bound (including, without limitation,
any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and
to serve as a director on the Board and hereby consents to being named in the Prospectus as a director of the Company.

 

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		12.	As used herein, (i) “Business Combination” shall mean a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more businesses;
(ii) “Capital Stock” shall mean, collectively, the Common Stock and the Founder Shares;
(iii) “Founder Shares” shall mean (a) the 5,750,000 shares of the Company’s Class
B common stock, par value $0.0001 per share, initially issued to the Sponsor (up to 750,000 Shares of which are subject to complete
or partial forfeiture by the Sponsor if the over-allotment option is not exercised by the Underwriters) for an aggregate purchase
price of $25,000, or $0.004 per share, prior to the consummation of the Public Offering; (iv) “Initial Stockholders”
shall mean the Sponsor and any Insider that holds Founder Shares; (v) “Private Placement Warrants”
shall mean the Warrants to purchase up to 5,900,000 shares of Common Stock of the Company (or 6,500,000 shares of Common Stock
if the over-allotment option is exercised in full) that the Sponsor has agreed to purchase for an aggregate purchase price of $5,900,000
in the aggregate (or $6,500,000 if the over-allotment option is exercised in full), or $1.00 per whole Warrant, in a private placement
that shall occur simultaneously with the consummation of the Public Offering; (vi) “Public Stockholders”
shall mean the holders of securities issued in the Public Offering; (vii) “Trust Account”
shall mean the trust fund into which a portion of the net proceeds of the Public Offering shall be deposited; and (viii) “Transfer”
shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange
Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect to, any security,
(b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of
ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise,
or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

		13.	The Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance,
and each Director shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of
the coverage available for any of the Company’s directors or officers.

 

		14.	This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral,
to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement
may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except
by a written instrument executed by all parties hereto.

 

		15.	No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding
on each Director and their respective successors, heirs and assigns and permitted transferees.

 

		16.	Nothing in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties
hereto any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise
or agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall
be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and
permitted transferees.

 

		17.	This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall
for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

		18.	This Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall
not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu
of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter
Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

		19.	This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this
Letter Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit
to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive
jurisdiction and venue or that such courts represent an inconvenient forum.

 

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		20.	Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall
be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile transmission.

 

		21.	This Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of
the Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering
is not consummated and closed by December 31, 2017.

 

[Signature Page Follows]

 

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	 	Sincerely,
	 	 
	 	DIRECTORS:
	 	 	 
	 	By:	 
	 	 	Name: David A.B. Brown
	 	 	 
	 	By: 	 
	 	 	Name:  Thomas K. Armstrong, Jr.
	 	 	 
	 	By: 	 
	 	 	Name:  David G. Hall
	 	 	 
	 	By: 	 
	 	 	Name:  Brian Hodges
	 	 	 
	 	By: 	 
	 	 	Name:  Gerard F. Rooney

 

	INDUSTREA ACQUISITION CORP.	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

    [Signature Page to Letter Agreement]Exhibit

Exhibit 10.1

August 1, 2017

Ronald M. DeFeo

Dear Ron: 
You have agreed to serve as Executive Chairman of Kennametal Inc. (the “Company”). This letter agreement (the “Agreement”) sets forth the terms of your employment as the Company’s Executive Chairman and is effective as of August 1, 2017 (the “Effective Date”). 
1. Position. In your position as Executive Chairman, you will report to the Company’s Board of Directors (the “Board”). The Company expects that you will remain on the Board as a director during your Term, as defined below.  While you render services to the Company as Executive Chairman, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with the Company; provided, however, that you may continue to serve on any boards of directors or committees thereof on which you served as of the Effective Date, so long as such service does not materially interfere with your duties hereunder. By signing this Agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company. 

2. Term and Termination. From the Effective Date, your position as Executive Chairman shall continue until June 30, 2018, or until earlier termination of your employment by you or the Company (the “Term”). Your employment is “at will,” and may be terminated by the Company at any time without cause on 60 days written notice to you, or immediately on written notice should you breach this Agreement and fail to cure such breach within 30 days of your receipt of written notice thereof.  Your employment hereunder may be terminated by you at any time for any or no reason upon no less than sixty (60) days prior written notice to the Board or immediately on written notice to the Board should Company breach this Agreement and fail to cure such breach within 30 days of its receipt of written notice thereof. You and the Company agree that there will be no termination, severance or similar cash payments payable under this Agreement for any termination of your employment, and you will be due all compensation earned through the date of termination. In the event of a termination for any reason, you will promptly return to the Company all materials in any form acquired by you as a result of employment with the Company, and all property of the Company.
3. Board Service; Director Equity Awards. 
3.1 While you serve as Executive Chairman, you will also continue to serve on the Board, but will not sit on any Board committees during your service as Executive Chairman.  You will not receive any non-employee director cash retainers, equity grants or other compensation under the Company’s Director Compensation Program for your services as a director.  
3.2 Upon your separation from service from the Company, your outstanding, unvested equity awards granted to you prior to February 3, 2016 for your prior service as a director (“Director Awards”) will vest consistent with equity awards granted to other directors who have retired from the Board. 

4. Compensation and Benefits. 
4.1 Salary and Annual Bonus.  The Company will pay you at the annualized salary rate of Seven Hundred Thousand Dollars ($700,000) per year, payable in accordance with the Company’s normal payroll schedule and subject to required withholdings.  You will be eligible to participate in the Company’s annual cash incentive plan for Fiscal 2018 (July 1, 2017 to June 30, 2018) with a target bonus of 140% of annual base salary (pro-rated for your months of service as Executive Chairman in Fiscal 2018)), of which 120% will be based on the Company’s financial performance goals and 20% will be based on individual performance goals, in each case as determined by the Board.    
4.2 Long Term Incentive.  You will not be eligible to receive any future long-term incentive awards. Upon your separation from service from the Company, your outstanding, unvested equity awards previously granted to you while you were President and Chief Executive Officer of the Company shall automatically vest with Performance Service Units vesting at actual for FY17 performance goals and at target for subsequent years under the FY17 PSU grant. The settlement or exercise of such awards following vesting shall be subject to the terms and conditions of such awards, including any delay in settlement required by Internal Revenue Code Section 409A if you are a “specified employee” as of your separation date.   
4.3 Employee Benefit Programs.  As Executive Chairman of the Company, you will be eligible to participate in the savings, and health and welfare benefit plans, that are sponsored by the Company and generally available to our executive employees for the time which you are employed.  Your participation in the benefit plans and programs is determined by the terms and provisions of those plans and programs, as they may be amended from time to time.
5. Indemnification. The Company shall continue to indemnify you with respect to activities in connection with your employment hereunder in accordance with the terms of the separate indemnification agreement previously executed between you and the Company on February 4, 2016. 

6. Company Policies.  You recognize the necessity for established policies and procedures pertaining to Company's business operations, and the Company's right to change, revoke or supplement such policies and procedures at any time, in Company's sole discretion. You agree to comply with such policies and procedures, including those contained in any manuals or handbooks, as may be amended from time to time in the sole discretion of the Company. 

7.  Non-Competition and Non-Solicitation Agreement.  
7.1 During your employment as Executive Chairman by the Company and for one year thereafter, you will not, in any geographic area in which the Company is offering its services and products, without the prior written consent of Company:
a.    directly or indirectly engage in, or
b.    assist or have an active interest in (whether as proprietor, partner, investor, shareholder, officer, director or any type of principal whatsoever), or
c.    enter the employ of, or act as agent for, or advisor or consultant to, any person, firm, partnership, association, corporation or business organization, entity or enterprise which is or is about to become directly or indirectly engaged in, any business which is competitive with any business of the Company or any subsidiary or affiliate thereof in which you are or were engaged during your term of employment by the Company; provided, however, that the foregoing provisions of this Section 8 are not intended to prohibit and shall not prohibit you from purchasing, for investment, not in excess of 1% of any class of stock or other corporate security of any company which is registered pursuant to Section 12 of the Securities Exchange Act of 1934.
7.2 During the period of your employment by the Company and for one year thereafter, you will not, without the prior written consent of the Company (i) solicit or attempt to hire or assist any other person in any solicitation or attempt to hire any employee of the Company, its subsidiaries or affiliates, or (ii) encourage any such employee to terminate his employment with the Company, its subsidiaries or affiliates; provided you will not be in breach of this Section 7.2 should the employee of the Company or its subsidiaries or affiliates respond to a general advertisement.

7.3 You acknowledge that the breach of the provisions of this Section 7 by you would cause irreparable injury to the Company, and you acknowledge and agree that remedies at law for any such breach will be inadequate and you consent and agree that the Company shall be entitled, without the necessity of proof of actual damage, to injunctive relief in any proceedings which may be brought to enforce the provisions of this Section 7. You specifically agree that the limitations as to periods of time and geographic area, as well as all other restrictions on his activities specified in Section 7, are reasonable and necessary for the protection of the Company, its employees and its affiliates. You acknowledge and warrant that you will be fully able to earn an adequate livelihood for yourself and your dependents if this Section 7 should be specifically enforced against you and that such enforcement will not impair your ability to obtain employment commensurate with your abilities and fully acceptable to you. 

7.4 If the scope of any restriction contained in this Section 7 is too broad to permit enforcement of such restriction to its full extent, then such restriction shall be enforced to the maximum extent permitted by law and you and the Company hereby consent and agree that such scope may be judicially modified in any proceeding brought to enforce such restriction. Your obligations under this Section 7 are subject to Company not being in breach of its obligations under this Agreement. 

8. Confidentiality    
8.1 You acknowledge and agree that in the course of your employment by the Company, you may work with, add to, create or acquire trade secrets and confidential information ("Confidential Information") of the Company which could include, in whole or in part, information:
a.    of a technical nature such as, but not limited to, the Company's manuals, methods, know-how, formulae, shapes, designs, compositions, processes, applications, ideas, improvements, discoveries, inventions, research and development projects, equipment, apparatus, appliances, computer programs, software, systems documentation, special hardware, software development and similar items; or 
b.     of a business nature such as, but not limited to, information about business plans, sources of supply, cost, purchasing, profits, markets, sales, sales volume, sales methods, sales proposals, identity of customers and prospective customers, identity of customers' key purchasing personnel, amount or kind of customers' purchases and other information about customers; or
c.    pertaining to future developments such as, but not limited to, research and development or future marketing or merchandising.

You further acknowledge and agree that (i) all Confidential Information is the property of the 
Company; (ii) the unauthorized use, misappropriation or disclosure of any Confidential Information would constitute a breach of trust and could cause irreparable injury to the Company; and (iii) it is essential to the protection of the Company’s goodwill and to the maintenance of its competitive position that all Confidential Information be kept secret and that you will not disclose any Confidential Information to others or use any Confidential Information to the detriment of the Company.

You agree to hold and safeguard all Confidential Information in trust for the Company, its 
successors and assigns and you shall not (except as required in the performance of your duties), use or disclose or make available to anyone for use outside the Company's organization at any time, either during employment with the Company or subsequent thereto, any of the Confidential Information, whether or not developed by you, without the prior written consent of the Company; provided you may disclose Confidential Information to your legal and other advisors with a need to know, provided they are advised of your confidentiality obligations hereunder and they are required by you or by ethical obligation to keep such information confidential.  Confidential Information will not include, and you will have no obligations with respect to (i) information made public other than by reason of your breach of this Agreement, or (ii) information provided to you by a third party with the right to provide the same without any obligation of confidentiality.  Further, nothing herein will prevent you from disclosing Confidential Information to the extent required by law, so long as you provide Company with prior written notice thereof. 

8.2 You agree that:

a.you will promptly and fully disclose to the Company or such officer or other agent as may be designated by the Company any and all inventions made or conceived by you (whether made solely by you or jointly with others) during employment with the Company (1) which are along the line of the business, work or investigations of the Company, or (2) which result from or are suggested by any work which you may do for or on behalf of the Company; and

b.you will assist the Company and its nominees during and subsequent to such employment in every proper way (entirely at its or their expense) to obtain for its or their own benefit patents for such inventions in any and all countries; the said inventions, without further consideration other than such salary as from time to time may be paid to you by the Company as compensation for your services in any capacity, shall be and remain the sole and exclusive property of the Company or its nominee whether patented or not; and
c.    you will, during the term of your employment by the Company and for one year thereafter, keep and maintain adequate and current written records of all such inventions, in the form of but not necessarily limited to notes, sketches, drawings, or reports relating thereto, which records shall be and remain the property of and available to the Company at all times. 

8.3   You agree that, promptly upon termination of your employment, you will disclose to the Company, or to such officer or other agent as may be designated by the Company, all inventions which have been partly or wholly conceived, invented or developed by you as described in clause 8.2 (a) above for which applications for patents have not been made and shall thereafter execute all such instruments of the character hereinbefore referred to, and will take such steps as may be necessary to secure and assign to the Company the exclusive rights in and to such inventions and any patents that may be issued thereon any expense therefor to be borne by the Company.

8.4   You agree that you will not at any time aid in attacking the patentability, scope, or validity of any invention to which the provisions of subparagraphs 8.2 and 8.3, above apply.

9. Tax Matters. All forms of compensation referred to in this Agreement are subject to applicable withholding and payroll taxes and other deductions required by law. 

10. Entire Agreement. This Agreement supersedes and replaces any prior agreements, representations or understandings (whether written, oral, implied or otherwise) between you and the Company, and constitutes the complete agreement between you and the Company, regarding your position as Executive Chairman. This Agreement may not be amended or modified, except by an express written agreement signed by both you and the lead independent director of the Board. The terms of this Agreement and the resolution of any disputes as to the meaning, effect, performance or validity of this Agreement or arising out of, related to, or in any way connected with, this Agreement, your employment with the Company or any other relationship between you and the Company will be governed by Pennsylvania law, excluding laws relating to conflicts or choice of law. In any action between the parties arising out of or relating to any such disputes, each of the parties irrevocably and unconditionally consents and submits to the exclusive jurisdiction and venue of the state and federal courts located in Allegheny County, Pennsylvania. This Agreement may be signed in counterparts and the counterparts taken together will constitute one agreement.

	
					
	 
	 
	 
	Very truly yours,

	 
	 
	 
	Kennametal Inc.

	 
	 
	 
	By:
	 

	 
	 
	 
	 
	 

	 
	 
	 
	Title:
	Lead Independent Director

	ACCEPTED AND AGREED:
	 
	 
	 

	 
	 
	 
	 
	 

	By:
	Ronald M. DeFeo
	 
	 
	 

	 
	 
	 
	 
	 

	Date:

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