Document:

Form of Incentive Stock Option Agreement

 Exhibit 10.29 
 2006 INCENTIVE STOCK OPTION AGREEMENT 
 (Under the Lydall 2003 Stock Incentive Compensation Plan) 

THIS AGREEMENT is made and entered into as of
                    , by and between LYDALL, INC., a Delaware corporation, with its principal office in Manchester, Connecticut (hereinafter
called the “Company”), and Optionee (hereinafter called the “Optionee”), under the provisions of the Lydall 2003 Stock Incentive Compensation Plan (hereinafter called the “Plan”). 
 1. GRANT OF INCENTIVE STOCK OPTION. Subject to the terms and conditions set forth herein, the Company grants to the Optionee, effective the day and year
first above written (hereinafter called the “date of grant”), the following incentive stock option, exercisable during the period commencing one year from the date of grant and ending ten (10) years after the date of grant the right
and incentive stock option (hereinafter called the “option”) to purchase from the Company from time to time, up to but not exceeding in the aggregate number of shares of the Common Stock of the Company to be issued upon the exercise
hereof, fully paid and nonassessable, as listed in an award letter dated                      from Lydall’s President and Chief Executive
Officer. The option is subject to the restriction that it be exercised as set forth in Section 4 of this Agreement, and to other terms and conditions as set forth in Section 5 of this Agreement. 
 2. TYPE OF OPTION. The option is an “Incentive Stock Option” meeting the requirements of such options as defined in Section 422A of the
Internal Revenue Code of 1986, as amended. 
 3. OPTION PRICE. The purchase price of each share subject to the option shall be
$            , being 100 percent of the fair market value of the shares subject to the option on the date of grant. 
 4. MANNER OF EXERCISE OF OPTION. The Bank of New York (“BNY”) is the administrator and executing broker of Lydall, Inc.’s Stock Incentive
Compensation Plans. BNY must be used to exercise any vested stock options, including cashless and sell-to-cover transactions. BNY will provide you with a confirmation of each exercise made. BNY will collect funds for option costs and taxes related
to an exercise, or issue the net proceeds in the case of a cashless exercise. To exercise an option or to ask questions, contact the BNY Customer Service Center toll-free at 1-888-805-6278. As a participant, you have unlimited Internet access to
your account at https://www.bnymystock.com/lydall. 
 Section 16 Officers and Directors are required to pre-clear option transactions with Lydall’s General Counsel. All employees must comply with Lydall’s Policies regarding securities trades by company
personnel when making trades. 

	 	5.	ADDITIONAL TERMS AND CONDITIONS. 

 (a) Acceptance of
Option. The Optionee must go to their account at www.bnymystock.com/lydall and click the “Accept Grant” button to
complete the grant process. Your on-line acceptance of your granted option is deemed to be your acknowledgement and acceptance of the terms and conditions both this agreement and the 2003 Stock Incentive Compensation Plan, as posted at www.bnymystock.com/lydall. These agreements can be printed or downloaded for further review or retention as per personal choice. Please access
the Bank of New York website, read the applicable agreements and accept your option grant no later than                     . 
 (b) Period of Option. The option shall have a term of ten (10) years from the date on
which it is granted; provided that the option, or the unexercised portions thereof, shall terminate at the close of business on the ninetieth (90th) day following the date on which the Optionee ceases to be an employee of the Company except as provided under subsection (e) of this section in the event of the death or disability of the
Optionee. Notwithstanding the foregoing, the option may not be exercised after termination of Optionee’s employment if the Committee, as defined in the Plan, determines that the termination of his or her employment resulted for cause or from
his or her willful acts, or failure to act, deemed detrimental to the Company. 
 (c) Exercise of Option and Limitations Thereon. The
option shall be exercised in the manner set forth in Section 4 of this Agreement. 
 The option shall be exercisable subject to the
following limitations: 
  

	 	(i)	no shares may be purchased prior to 12/7/2007, until after one (1) year of continued service as an employee from the above date; 

  

	 	(ii)	on or after 12/7/2007, 25 percent of said aggregate number of shares may be purchased; 

  

	 	(iii)	on or after 12/7/2008, 50 percent of said aggregate number of shares may be purchased; 

  

	 	(iv)	on or after 12/7/2009, 75 percent of said aggregate number of shares may be purchased; 

  

	 	(v)	on or after 12/7/2010, 100 percent of said aggregate number of shares may be purchased; 

  

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	 	(vi)	no shares may be purchased pursuant to such option after 12/6/2016. 

 Any obligation of the Company to issue the shares as to which the option is being exercised shall be conditioned upon the Company’s ability at nominal expense to issue such shares in compliance with all
applicable statutes, rules or regulations of any governmental authority. The Company may secure from the Optionee any assurances or agreements which the Committee, in its sole discretion, shall deem necessary or advisable in order that the issuance
of such shares shall comply with any such statutes, rules or regulations. 
 The Company shall not be required to deliver any certificate
upon the exercise of the option until the Company has been furnished with such representation or opinion or other document as it may reasonably deem necessary to insure compliance with any rule or regulation of the New York Stock Exchange, or the
Securities and Exchange Commission, or any law, rule, or regulation of any other governmental authority having jurisdiction over the Company or the shares to be issued under the Plan. 
 If at any time the Company’s Board of Directors shall determine, in its discretion, that the listing, registration or qualification of the shares
subject to the option upon any securities exchange or under any state or federal law, or that the consent or approval of any government regulatory body, is necessary or desirable as a condition of, or in connection with, the granting of such option
or the issue or purchase of shares thereunder, such option may not be exercisable in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not acceptable
to the Board of Directors. 
 (d) Nontransferability. The option shall not be transferable by the Optionee otherwise than by will or
by the laws of descent and distribution, and the option shall be exercisable, during his or her lifetime, only by him or her. 
 (e) Death
or Disability of Optionee. In the event the Optionee dies while in the employ of the Company or a subsidiary, his or her option may be exercised within the period of one (1) year succeeding his or her death, but in no event later than ten
(10) years from the date the option was granted, by the person or persons designated in the Optionee’s will for that purpose to the extent that the Optionee would have been entitled to exercise his or her option at the time of his or her
death. If no such person or persons are so designated or if the Optionee dies intestate, then his or her option may be exercised within said period to the same extent by the legal representative or representatives of the Optionee’s estate.

  

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 Similarly, in the event that the Optionee is disabled while in the employ of the Company or a subsidiary,
his or her option may be exercised within the period of one (1) year succeeding such disability either by the Optionee or by his or her representative, as the case may be, to the extent that the Optionee would have been entitled to exercise his
or her option at the time of such disability. 
 (f) Stockholder Rights. The Optionee shall not be entitled to any rights as a
stockholder with respect to any shares subject to the option prior to the date of issuance to him or her of a stock certificate representing such shares. The Company shall not be required to deliver any certificate upon the exercise of the option
until the Company has been furnished with such representation or opinion or other document as it may reasonably deem necessary to insure compliance with any rule or regulation of the New York Stock Exchange, or the Securities and Exchange
Commission, or any law, rule, or regulation of any other governmental authority having jurisdiction over the Company or the shares to be issued under the Plan. 
 (g) Notification of Disqualifying Disposition. The Optionee shall promptly notify the Company in the event of a disqualifying disposition (within the meaning of the Internal Revenue Code) of any shares acquired
pursuant to the option, and provide the Company with all relevant information related thereto, including without limitation the date of the disqualifying disposition, the number of shares disposed of, and the value of the consideration received.

 6. TERMINATION OF OPTION. If the Optionee shall no longer be a full-time salaried employee of the Company or a subsidiary, his or her
employment being terminated for any reason whatsoever other than death or disability, any unexercised portions of the option shall terminate at the close of business on the ninetieth (90th) day following the date on which the Optionee ceases to
be employed by the Company or a subsidiary, or upon the expiration of the term of the option, whichever shall first occur. In no event may the Optionee exercise an option after his or her termination of employment by the Company or a subsidiary
except to the extent the Optionee would have been entitled to exercise his or her option at the time of the Optionee’s termination of employment, provided, however, that if Optionee’s termination of employment results for cause or from
willful acts, or failure to act, deemed detrimental to the Company, the option shall terminate upon termination of employment. 
  

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 7. COMPLIANCE WITH LAWS. Notwithstanding any of the provisions hereof, the Optionee agrees for him or
herself and his or her legal representatives, legatees and distributees that the option shall not be exercisable by him or her or them, and that the Company shall not be obligated to issue any shares hereunder, if the exercise of said option or the
issuance of such shares shall constitute a violation by the option holder or the Company of any provision of any law or regulation or any governmental authority. 
 8. NOTICES. Every notice or other communication relating to this Agreement shall be in writing, and shall be mailed or delivered to the party for whom it is intended at such address as may from time to time be
designated by such party in a notice mailed or delivered to the other party as herein provided; provided, that, unless and until some other address be so designated, all notices or communications to the Company shall be mailed to or delivered to its
Vice President, General Counsel and Secretary at One Colonial Road, P. O. Box 151, Manchester, Connecticut, 06045-0151, and all notices by the Company to the Optionee may be given to the Optionee personally or may be mailed to him or her at the last
address designated for the Optionee on the employment records of the Company. 
 9. ADMINISTRATION AND INTERPRETATION. The administration of
this Agreement shall be subject to such rules and regulations as the Committee, as defined in the Plan, deems necessary or advisable for the administration of the Plan. The determination or the interpretation and construction of any provision of
this Agreement by the Committee shall be final and conclusive upon all concerned, unless otherwise determined by the Board of Directors of the Company. The Agreement shall at all times be interpreted and applied in a manner consistent with the
provisions of the Plan, and in the event of any inconsistency between the terms of this Agreement and the terms of the Plan, the terms of the Plan shall control, the terms of the Plan being incorporated herein by reference. 
 10. EFFECT OF OTHER AGREEMENTS. Notwithstanding any of the provisions hereof, this option shall be subject to the terms of any agreement or instrument
contractually binding upon the Company and affecting the terms of this option which is entered into before the date of grant. 
 IN WITNESS
WHEREOF, LYDALL, INC. has caused these presents to be executed in its corporate name and its corporate seal to be hereunto affixed, and the Optionee has signed on his or her own behalf as of the day and year first above written. 
  

			
	 LYDALL, INC.

		
	 By:
	 	 David Freeman

		 	President & Chief Executive officer

  

 5Form of Restricted Stock Award Agreement

 Exhibit 10.30 
 2006 RESTRICTED STOCK AGREEMENT 
 (Under the Lydall 2003 Stock Incentive Compensation Plan) 
 THIS AGREEMENT, made and entered into as of the 7th day of December, 2006, by and between Lydall, Inc., a Delaware corporation, with its principal office in Manchester, Connecticut (the "Corporation"), and
Participant; 
 WITNESSETH: 
 WHEREAS, it has been determined that the Participant is an Eligible Person under the Corporation's 2003 Stock Incentive Compensation Plan (the "Plan"); and 
 WHEREAS, effective December 7, 2006, the Corporation desires to grant a Restricted Stock Award to the Participant pursuant to the Plan and subject to the terms and conditions set forth in this Agreement;

 NOW THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements herein contained, the parties agree as
follows: 
 1. Restricted Stock Award. 
 (a) Subject to the terms and conditions of this Agreement, the number of shares of the Common Stock of the Corporation (the "Restricted Shares") listed in the Award Letter from the President and Chief Executive
Officer to the Participant shall be transferred to the Participant’s custodial account as additional compensation for services rendered to the Corporation or one of its Subsidiaries. The Restricted Shares are subject to forfeiture during a
specified time period, as more particularly described in Sections 2 and 4 of this Agreement. 
 (b) In order for the transfer of Restricted
Shares to occur, the Participant must go to www.bnymystock.com/lydall and click the “Accept Grant” button (in accordance with
Section 4(e) hereof). Promptly thereafter, the Restricted Shares shall be issued to and held in book entry form for the Participant by the Bank of New York (the "Custodian") until the end of the applicable Restriction Period described in
Section 2. The shares issued under this Section 2, the ownership of the Restricted Shares (and any Retained Distributions), and the enjoyment of all rights of a shareholder appurtenant thereto, are subject to the restrictions, terms and
conditions provided in the Plan and in this Agreement. 
 (c) Effective upon the later of the date of signifying acceptance by clicking the
“Accept Grant” button or of delivery to the Custodian via a certificate or book entry form the Restricted Shares registered in the Participant's name, the Participant will be a holder of record of the Restricted Shares and will have,
subject to the terms and conditions of this Agreement, all rights of a shareholder with respect to such shares including the right to vote such shares at any meeting of shareholders of the Corporation at which such shares are entitled to vote and
the right to receive all distributions (including regular cash dividends and other cash equivalent distributions) of any kind made or declared with respect to such shares. As provided under the Plan, the Corporation will retain custody of all such
distributions as “Retained Distributions” until the Restriction Period shall have expired under Section 2 hereof. If any such Retained Distributions are paid in the form of Common Stock, any such shares will be delivered to and held
by the Custodian and will also be considered "Restricted Shares". 
  

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 2. Lapse of Restrictions. 
 (a) All restrictions set forth in section 4 below will lapse in their entirety with respect to twenty-five percent (25%) of the Restricted Shares on
each of the following dates: 
 December 7, 2007, December 7, 2008, December 7, 2009 and December 7, 2010

 The period during which the Restricted Shares are subject to the restrictions set forth in Section 4 is sometimes hereinafter referred to as the
“Restriction Period.” 
 (b) As soon as reasonably practicable after the end of the Restriction Period, the Custodian will deliver
to the Participant either the certificate, or electronically via book entry transferred to a personal account, Restricted Shares free of further restrictions; provided, however, that the Custodian shall not issue such shares to the Participant until
the Participant has either (i) paid, or (ii) made provisions satisfactory to the Committee for the payment of, all applicable tax withholding obligations. 
 (c) The Bank of New York (“BNY”) is the administrator and executing broker of Lydall, Inc.’s Stock Incentive Compensation Plans. BNY must be used by the participant to receive the shares after all
restrictions have lapsed. BNY will collect funds for the payment of all applicable costs and taxes related to a transfer. To effect a transfer or to ask questions, contact the BNY Customer Service Center toll-free at 1-888-805-6278. As a
participant, you have unlimited internet access to your account at https:www.bnymystock.com/Lydall. 
 (d) If the Participant's employment with the Corporation or a Subsidiary terminates during the Restriction Period because of Death or Disability,
effective on the date of that event all restrictions set forth in Section 4 will lapse in their entirety with respect to all of the then Restricted Shares and a certificate for the Restricted Shares will be delivered in accordance with section
2(b). 
 3. Taxation 
 (a) The Participant recognizes and agrees that there may be certain tax issues that impact Participant arising from this Restricted Stock Award and Participant is solely responsible for payment of said taxes. The Corporation expressly
provides no tax advice to the Participant and recommends Participant seek personal tax advice. 
 (b) In general, the Participant will have
taxable income in each year during which a portion of the award becomes unrestricted. The amount of the taxable income for each year will equal the numbers of shares for which a restriction lapses multiplied by the closing price of Lydall’s
Common Stock on the applicable dates set forth in Section 2 (a). This amount will be included in Participants taxable income shown on Form W-2 for that year and the applicable taxes associated with this restriction lapsing must be paid to the
Company prior to the transfer of the shares to the Participant and generally no later than the payroll immediately subsequent to the lapsing of the restriction. 
 (c) Section 83(b) of the Internal Revenue Code permits Participants to recognize income in the year in which the Restricted Shares are granted, rather than in the subsequent years in which they vest. This
election generally must be filed with the Internal Revenue Service within 30 days of the date of this agreement. You should discuss this option with your tax advisor. 
 (d) Upon lapse of the restriction for each portion of the award, the shares for which the restriction has lapsed will become yours and will be taxable income to you as outlined above. As a result, you must pay
withholding taxes to the Corporation at the time each restriction lapses. There are options available to you regarding payment of the taxes to the Corporation. Unless the Participant notifies the Corporation in writing to the contrary, the
default option for payment of taxes will be 

  

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(e) outlined below, except for Section 16 Officers. The options available are as outlined in (e) through (h) below. 
 (e) Participant’s tax liability can be satisfied through the delivery to the Corporation by The Bank of New York of shares of Lydall stock in an
amount equal to the tax liability outlined in (b). The number of shares to be delivered to the Corporation will be rounded up to the nearest whole share and in no case shall partial shares be transferred. The shares delivered to the Corporation for
satisfaction of Participant tax liability will result in a reduction in the number of shares provided to the Participant as a result of the lapsing of restrictions subsequent to the payment of applicable taxes. (This option may not be available to
Section 16 Officers or to those with inside information at the time of sale). 
 (f) Participant tax liability can be satisfied by
Participant remitting payment to the Corporation via an authorized ACH debit to Participant’s bank account on the date of the lapsing of restriction. This option must be chosen through the Bank of New York website by December 1 of each
year that a restriction lapsing occurs as outlined in Section 2 (a). If this option is chosen, but sufficient funds are not available on the date due, the Corporation will withhold taxes due from the Participant’s next paycheck and any tax
liability not covered by the paycheck will result in restricted shares sufficient to cover the shortfall in liability being forfeited by the Participant to the Corporation. 
 (g) Participant tax liability can be satisfied by Participant electing to withhold taxes due from the Participant’s first paycheck subsequent to a
restriction lapsing. This option must be communicated in writing to the Corporation by December 1 of each year that a restriction lapsing occurs as outlined in Section 2 (a). If this option is chosen, but sufficient funds are not available
from the Participant’s paycheck, any tax liability not covered by the paycheck will result in restricted shares sufficient to cover the shortfall in liability being forfeited by the Participant to the Corporation. 
 (h) Participants of a natural citizenship other than the United States of America will be subject to and have their tax liability calculated in
accordance with the applicable statutory laws of their country which may result in treatment other than what is outlined in (b) through (g) above. 
 (i) In each event, the Custodian will take action promptly after each date as outlined in Section 2 (a). Section 16 Officers and those with inside information are subject to restrictions which may preclude
them from satisfying their tax liability under (e) above. The determination of the applicability of these restrictions and alternative mechanisms for the satisfaction of tax liability of officers of the Corporation, as well as the impact of any
future interpretations of Section 16 Officer restrictions and tax payment mechanisms will be the sole responsibility of the General Counsel of the Corporation. 
 4. Restrictions. 
 (a) Except as provided in Section 2(d) and 4(b), if the Participant's
employment with the Corporation or a Subsidiary terminates during the Restriction Period for any other reason, then effective upon the date of termination all then Restricted Shares shall automatically be forfeited to the Corporation. Employment
will not be deemed to have terminated for this purpose by reason of a leave of absence approved by the Committee. 
 (b) If the Participant
retires from active service with the Corporation or a Subsidiary under the terms of the Lydall, Inc. Defined Benefit Pension Plan during the Restriction Period, effective upon retirement the then Restricted Shares will automatically be forfeited to
the Corporation; except that, the Committee may, in its sole discretion, allow all restrictions set forth in this Section 4 to lapse in their entirety with respect to the then Restricted Shares. If the restrictions are allowed to lapse, the
Restricted Shares will be delivered to the Participant in accordance with section 2(b). 
  

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 (c) None of the Restricted Shares, nor the Participant's interest in any of the Restricted Shares, may be
encumbered, sold, assigned, transferred, pledged or otherwise disposed of at any time during the Restriction Period. In the event of any such action, all then Restricted Shares (and all Retained Distributions with respect thereto) shall
automatically be forfeited to the Corporation effective upon the date of such event. 
 (d) If the Participant at any time forfeits
Restricted Shares pursuant to this Agreement, the Restricted Shares will be delivered by the Custodian to the Corporation. All of the Participant's rights to and interest in the Restricted Shares shall terminate upon forfeiture without payment of
consideration. 
 (e) If Restricted Shares are forfeited under this Agreement, the Corporation shall direct the Transfer Agent and Registrar
of the Corporation's Common Stock to make appropriate entries upon their records showing the cancellation of said Restricted Shares and to return the shares represented thereby to the Corporation. Your acceptance of this Award conveys to the
Custodian the authority to take any action necessary to effect the transfer of shares to the Corporation and the Participant. 
 (f) The
Committee shall make all determinations in connection with this Agreement, including determinations as to whether an event has occurred resulting in the forfeiture of or lapse of restrictions on Restricted Shares and all such determinations of the
Committee shall be final and conclusive. 
 5. Appointment Of Agent. By acceptance of this Agreement, the Participant irrevocably
nominates, constitutes and appoints the Custodian as his or her agent and attorney-in-fact for purposes of surrendering or transferring the Restricted Shares to the Corporation upon any forfeiture required or authorized by this Agreement. This power
is intended as a power coupled with an interest and shall survive the Participant's death. In addition, it is intended as a durable power and shall survive the Participant's Disability. 
 6. No Employment Rights. No provision of this Agreement shall: 
 (a) confer or be deemed to confer upon the Participant any right to continue in the employ of the Corporation or any Subsidiary or shall in any way affect the right of the Corporation or any Subsidiary to dismiss or
otherwise terminate the Participant's employment at any time for any reason with or without cause, or 
 (b) be construed to impose upon the
Corporation or any Subsidiary any liability for any forfeiture of Restricted Shares which may result under this Agreement if the Participant's employment is so terminated, or 
 (c) affect the Corporation's right to terminate or modify any contractual relationship with a Participant who is not an employee of the Corporation or a
Subsidiary. 
 7. No Liability For Business Acts Or Omissions. The Participant recognizes and agrees that the Board of Directors or
the officers, agents or employees of the Corporation, including the Custodian, in their conduct of the business and affairs of the Corporation, may cause the Corporation to act, or to omit to act, in a manner that may, directly or indirectly,
prevent the Restricted Shares from vesting under this Agreement. No provision of this Agreement shall be interpreted or construed to impose any liability upon the Corporation, the Board of Directors or any officer, agent or employee of the
Corporation, including the Custodian, for any forfeiture of Restricted Shares that may result, directly or indirectly, from any such action or omission. 
  

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 8. Changes in Capitalization. 
 (a) This Agreement and the issuance of the Restricted Shares shall not affect in any way the right or power of the Corporation or its shareholders to
make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Corporation's capital structure or its business, or any merger or consolidation of the Corporation, or any issue of bonds, debentures, preferred or
prior preference stocks ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the Corporation, or any sale or transfer of all or any part of its assets or business, or any other corporate act or
proceedings, whether of a similar character or otherwise. 
 (b) In the event of recapitalization, stock split, stock dividend, divisive
reorganization or other change in capitalization affecting the Corporation's shares of Common Stock, an appropriate adjustment will be made in respect of the Restricted Shares. Any new or additional or different shares or securities issued as the
result of such an adjustment will be delivered to and held by the Custodian and will be deemed included within the term "Restricted Shares". 
 9. Capitalized Terms. All capitalized terms not defined herein shall have the meaning ascribed to them in the Plan. 
 10.
Interpretation. This Agreement shall at all times be interpreted, administered and applied in a manner consistent with the provisions of the Plan. In the event of any inconsistency between the terms of this Agreement and the terms of the
Plan, the terms of the Plan shall control and the Plan is incorporated herein by reference. 
 11. Amendment; Modification; Waiver. No
provision of this Agreement may be amended, modified or waived unless such amendment, modification or waiver shall be authorized by the Committee and shall be agreed to in writing by the Participant. 
 12. Complete Agreement. This Agreement contains the entire Agreement of the parties relating to the subject matter of this Agreement and
supersedes any prior agreements or understandings with respect thereto. 
 13. Agreement Binding. This Agreement shall be binding upon
and inure to the benefit of the Corporation, its successors and assigns and the Participant, his or her heirs, devisees and legal representatives. 
 14. Legal Representative. In the event of the Participant's death or a judicial determination of his or her incompetence, reference in this Agreement to the Participant shall be deemed to refer to his or her legal representative,
heirs or devisees, as the case may be. 
 15. Business Day. If any event provided for in this Agreement is scheduled to take place on
a day on which the Corporation's corporate offices are not open for business, such event shall take place on the next succeeding day on which the Corporation's corporate offices are open for business. 
 16. Titles. The titles to sections or paragraphs of this Agreement are intended solely for convenience and no provision of this Agreement is to be
construed by reference to the title of any section or paragraph. 
 17. Notices. 
 (a) Any notice to the Corporation pursuant to any provision of this Agreement will be deemed to have been delivered when delivered in person to the
Custodian or when deposited in the United States mail, addressed to the Custodian at the Corporation's corporate offices, or such other address as the Corporation may from time to time designate in writing. 
  

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 (b) Any notice to the Participant pursuant to any provision of this Agreement will be deemed to have been
delivered when delivered to the Participant in person or when deposited in the United States mail, addressed to the Participant at his or her address on the shareholder records of the Corporation or such other address as he or she may from time to
time designate in writing. 
 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date first written above.

  

			
	Lydall, Inc.
		
	By:	 	  

		 	David Freeman
		 	President and Chief Executive Officer

  

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