Document:

EX-10.2

 Exhibit 10.2 

KENNAMETAL INC. 

NONSTATUTORY STOCK OPTION AWARD 

(FOR PRESIDENT AND CEO) 

Grant Date:                     

 Kennametal Inc. (the “Company”) hereby grants to «name» (the “Optionee”), as of the Grant Date listed
above, this Nonstatutory Stock Option Award (the “Option”) to purchase «number of stock options» shares of the Company’s Capital Stock, par value $1.25 per share (the “Shares”), at the price of $XX.XX per Share,
subject to the terms and conditions of the Kennametal Inc. Stock and Incentive Plan of 2010, as Amended and Restated on October 22, 2013, as further amended January 27, 2015 (the “Plan”), and the additional terms listed below.
Capitalized terms used herein, but not otherwise defined herein, shall have the same meaning ascribed to them in Schedule A or in the Plan. 
 1. The Option
must be exercised within ten (10) years from the Grant Date and only at the times and for the number of Shares as follows: (a) prior to the first anniversary of the Grant Date, the Option is not exercisable as to any Shares; (b) on
the first anniversary of the Grant Date, one-third (1/3) of the Shares under the Option will vest and become exercisable; (c) on the second anniversary of the Grant Date, an additional one-third (1/3) of the Shares under the Option
will vest and become exercisable; and (d) on the third anniversary of the Grant Date, the remaining one-third (1/3) of the Shares under the Option will vest and become exercisable. 

2. Notwithstanding anything to the contrary in this Option or the Plan, the unvested Options will be forfeited to the Company upon termination of
Awardee’s employment for “cause” (as defined in the Plan) or breach by Awardee of any restrictive covenant to which he may be bound by the Company. Upon termination of Awardee’s employment for any reason other than
“cause,” any unvested Options will continue to vest and become exercisable in accordance with the schedule set forth above in Section 1. Any vested Options shall remain exercisable until the third anniversary of the later of
(i) the applicable vesting date set forth in Section 1 above or (ii) the date of termination of Awardee’s employment, provided that no Option shall be exercisable after the
10th anniversary of the Grant Date. 
 3. This Option is intended to be exempt from coverage under
Section 409A of the Internal Revenue Code (which deals with nonqualified deferred compensation) and the regulations promulgated thereunder, and the Company reserves the right to administer, amend or modify the Option or to take any other action
necessary or desirable to enable the Option to be interpreted and construed accordingly. Notwithstanding the foregoing, the Optionee acknowledges and agrees that Section 409A may impose upon the Optionee certain taxes or interest charges for
which the Optionee is and shall remain solely responsible. 
 4. Notwithstanding anything to the contrary in this Option or the Plan, in the event that this
Option is not accepted by the Optionee on or before the date that is 180 days from the grant date noted herein (the “Forfeiture Date”), then this Option shall become null and void and all Shares subject to this Award shall be forfeited by
the Optionee as of the Forfeiture Date. For acceptance to be valid, the Optionee must accept this Option in the manner specified by the Company. Any Shares underlying the Option that are forfeited by the Optionee shall be returned to the Plan and
resume the status of shares available for grant. 
 5. All other terms and conditions applicable to this Option are contained in the Plan. A copy of the
Plan and related Prospectus is available on your account page at netbenefits.fidelity.com under Plan Information and Documents, as well as on The Hub under Human Resources. 

 

			
	KENNAMETAL INC.
		
	By:	 	Kevin G. Nowe
	Title:	 	Vice President, Secretary and General CounselEX-10.3

 Exhibit 10.3 

KENNAMETAL INC. 

RESTRICTED UNIT AWARD 

(FOR PRESIDENT AND CEO) 

Grant Date:              

Kennametal Inc. (the “Company”) hereby grants to «name» (the “Awardee”), as of the Grant Date listed above,
this Restricted Unit Award (the “Award”) for «number of stock units» Stock Units, subject to the terms and conditions of the Kennametal Inc. Stock and Incentive Plan of 2010, as Amended and Restated on October 22, 2013, as
further amended on January 27, 2015 (the “Plan”), and the additional terms listed below. Capitalized terms used herein, but not otherwise defined herein, shall have the same meaning ascribed to them in Schedule A or the Plan. 

1. Each Stock Unit represents the right to receive one Share of the Company’s Capital Stock, par value $1.25 per share, subject to the Forfeiture
Restrictions (defined below). Notwithstanding, Stock Units as initially awarded have no independent economic value, but rather are mere units of measurement used for the purpose of calculating the number of Shares, if any, to be delivered under the
Award. 
 2. The prohibition against transfer and the obligation to forfeit and surrender the Stock Units to the Company are herein referred to as
“Forfeiture Restrictions.” The Stock Units may not be sold, assigned, pledged, exchanged, hypothecated, gifted or otherwise transferred, encumbered or disposed of, except as described in the Plan, to the extent then subject to the
Forfeiture Restrictions. The Forfeiture Restrictions will be binding upon, and enforceable against, any permitted transferee of the Stock Units. 
 3.
Provided that the Awardee’s employment is not terminated for “cause” (as defined in the Plan) and that Awardee does not breach any restrictive covenant to which he may be bound by the Company from the Grant Date through the lapse
date, the Forfeiture Restrictions will lapse as follows: (a) on the first anniversary of the Grant Date, one-third (1/3) of the Stock Units will vest and the Forfeiture Restrictions will lapse as to those Stock Units; (b) on the
second anniversary of the Grant Date, an additional one-third (1/3) of the Stock Units will vest and the Forfeiture Restrictions will lapse as to those Stock Units; and (c) on the third anniversary of the Grant Date, the remaining
one-third (1/3) of the Stock Units will vest and the Forfeiture Restrictions will lapse as to those Stock Units. 
 4. The Stock Units, to the extent
then subject to the Forfeiture Restrictions, will be forfeited to the Company upon termination of Awardee’s employment for “cause” (as defined in the Plan) or breach by Awardee of any restrictive covenant to which he may be bound by
the Company. Upon any other Separation from Service other than termination for “cause,” the Forfeiture Restrictions will remain in place and will continue to lapse in accordance with the schedule set forth above in Section 3. 

5. Except as otherwise provided herein, the shares of Company Capital Stock (the “Shares”) underlying Stock Units which are no longer subject to
Forfeiture Restrictions shall be issued to the Awardee on the lapse date (or as soon as reasonably practicable thereafter but in no event later than the 15th day of the third month following such date), subject to the Awardee’s satisfaction of
all applicable income and employment withholding taxes. 
 6. The Shares underlying Stock Units shall not be sold or otherwise disposed of in any manner
that would constitute a violation of any applicable federal or state securities laws. The Company may refuse to register a transfer of the Shares on the stock transfer records of the 

 
Company if the transfer constitutes a violation of any applicable securities law and the Company may give related instructions to its transfer agent, if any, to stop registration of the transfer
of the Shares. 
 7. This Restricted Unit Award is intended to comply with Section 409A of the Internal Revenue Code (which deals with nonqualified
deferred compensation) or an exception thereto and the regulations promulgated thereunder and will be construed accordingly. The Company reserves the right to administer, amend or modify the Award or to take any other action necessary or desirable
to enable the Award to be interpreted and construed accordingly. Notwithstanding the foregoing, the Awardee acknowledges and agrees that Section 409A may impose upon the Awardee certain taxes or interest charges for which the Awardee is and
shall remain solely responsible. Notwithstanding the foregoing or any provision of this Award to the contrary, if this Award is subject to Section 409A (and not excepted therefrom) and a Change of Control is a distribution event for purposes of
the Award, the definition of Change in Control shall be interpreted, administered and construed in a manner necessary to ensure that the occurrence of any such event shall result in a Change of Control only if such event qualifies as a change in the
ownership or effective control of a corporation, or a change in the ownership of a substantial portion of the assets of a corporation, as applicable, within the meaning of Treas. Reg. § 1.409A-3(i)(5). 

8. Notwithstanding anything to the contrary in this Award or the Plan, in the event that this Award is not accepted by the Awardee on or before the date that
is 180 days from the grant date noted herein (the “Forfeiture Date”), then this Award shall become null and void and all Stock Units subject to this Award shall be forfeited by the Awardee as of the Forfeiture Date. For acceptance to be
valid, the Awardee must accept this Award in the manner specified by the Company. Any Shares underlying the Stock Units covered by this Award that are forfeited by the Awardee shall be returned to the Plan and resume the status of shares available
for grant. 
 9. All other terms and conditions applicable to this Award are contained in the Plan. A copy of the Plan and related Prospectus is available
on your accounts page at netbenefits.fidelity.com under Plan Information and Documents, as well as on The Hub under Human Resources. 
  

			
		 	KENNAMETAL INC.
		
	By:	 	Kevin G. Nowe
	Title:	 	Vice President, Secretary and General Counsel

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