Document:

Form of Stock Option Agreement

 Exhibit 10.21 
 FORM OF STOCK OPTION AGREEMENT 
 KADANT INC. 

 One Technology Park Drive 
 Westford, MA 01886 
 NOTICE OF GRANT OF STOCK OPTION AND OPTION AGREEMENT

 [Date] 
 [Optionee name and
address] 
 Dear [Optionee name]: 
 Pursuant to the terms and conditions of the company’s [plan name], you have been granted a Non-qualified Stock Option to purchase [#] shares of stock as outlined below. 
  

							
	Granted To:	  	 [Optionee name]
	  	
			
	Grant Date:	  	[Date]	  	
			
	Granted:	  	[# of shares]	  	
				
	Grant Price:	  	[Price]	  	Total Cost to Exercise: [$ #]	  	
			
	Expiration Date:	  	[10th anniversary of Grant Date]	  	
			
	Vesting Schedule:	  	33+% per year for 3 years	  	
			
		  	[# on Date – first anniversary of Grant Date]	  	
		  	[# on Date – second anniversary of Grant Date]	  	
		  	[# on Date – third anniversary of Grant Date]	  	

 By your signature below, you acknowledge receipt of this Stock Option as of the Grant Date and agree that this Stock
Option is granted under and governed by the terms and conditions of the Company’s [Plan name] as amended, and the Non-qualified Stock Option Agreement, which is attached and made a part of this document. You further acknowledge receipt of the
copy of the Plan. 
  

							
	Signature:	 	  
	 		 	  

		 	[Optionee name]	 		 	Date

  

 1 

 KADANT INC. 
 Nonqualified Stock Option Agreement 
 1. Grant of
Option. This Nonqualified Stock Option Agreement (the “Option Agreement”) contains the terms and conditions of a grant of a nonqualified stock option (the “Option”) to purchase the shares of the common stock of the Company
(the “Option Shares”) made to you pursuant to the stock option plan identified on the cover page of this Option Agreement (the “Plan”). The date on which your Option was granted by the Company’s Board of Directors is written
on the cover page of this Option Agreement and is called the Grant Date. A copy of the Plan that governs your Option is attached and made a part of this Option Agreement. This Option is intended to be a non-statutory stock option under the U.S.
Internal Revenue Code of 1986, as amended. 
 2. Exercisability and Vesting of Option. Your Option only may be exercised
once your Option Shares have vested. Your Option Shares vest and become exercisable in three installments for the number of shares listed on the cover page of this Option Agreement under the heading “Shares” and on the vesting dates
written on the cover page of this Option Agreement under the heading “Full Vest”, provided that on each vesting date you have been continuously employed by the Company or an “Affiliated Employer” since the Grant Date. Your Option
Shares will fully vest immediately prior to a Change in Control event, as defined in the Plan, if the Change in Control occurs before the date on which you cease to be an employee of the Company or an Affiliated Employer. The date on which you cease
to be an employee of the Company or an Affiliated Employer is called your “Employment Termination Date”. An “Affiliated Employer” means any corporation that more than 50% of its outstanding common stock is owned by the Company.
On your Employment Termination Date, all Option Shares that have not already vested are immediately forfeited to the Company and cancelled. 
 3. Termination of Option. The date on which your Option terminates or expires is called the “Option Termination Date.” Your Option will terminate when the first of the following events
occurs: 
 (a) the Expiration Date of the Option, which is ten years from your Grant Date and identified on the cover page of
this Option Agreement under the heading “Expiration”; or 
 (b) three months after your Employment Termination Date if
the Employment Termination Date occurs for any reason other than the reasons named in Sections 3(c), 3(d) or 3(e); or 
 (c) one
year after your Employment Termination Date if your Employment Termination Date occurs due to your death or disability. For purposes of this Option Agreement, “disability” means that you are receiving disability benefits under the
Company’s Long Term Disability Coverage, as then in effect, on the Employment Termination Date; or 
 (d) two years after
your Employment Termination Date if the Employment Termination Date occurs due to your retirement. For purposes of this Option Agreement, (i) if

  

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you are an outside director of the Company, “retirement” means the date on which you cease to serve as a director of the Company, and (ii) if you are an employee of the Company or
an Affiliated Employer, “retirement” means the termination of your employment after age 55 and the completion of 10 years of continuous service (consisting of at least 20 hours per week) to the Company or an Affiliated Employer; or

 (e) the date the Company is dissolved or liquidated. 
 4. No Assignment of Rights. Except for assignments or transfers by will or the applicable laws of descent and distribution, your
rights and interests under this Option Agreement and the Plan may not be assigned or transferred in whole or in part either directly or by operation of law or otherwise, including without limitation by way of execution, levy, garnishment,
attachment, pledge or bankruptcy, and no such rights or interests shall be subject to any of your obligations or liabilities. Notwithstanding the foregoing, if you are a director or officer of Kadant Inc. on the date of grant, or subsequently become
a director or officer of Kadant Inc., the Company consents to the transfer of this Option by you to an immediate member of your family, a family trust or family partnership, provided that you, the Company and the transferee execute a written
assignment of this Option in the form specified by the Company and upon terms satisfactory to the Company prior to such assignment becoming effective. 
 5. Exercise of Option; Delivery and Deposit of Certificate(s). You (or in the case of your death, your legal representative) may exercise vested Option Shares in whole or in part by giving written
notice to the Company on the form provided by the Company (the “Exercise Notice”) any time before the Option Termination Date. Your Exercise Notice must be accompanied by full payment for the Option Shares being purchased before it will be
considered complete. You may pay for the Option Shares by any of the following methods: 
  

	 	•	 	 in cash or by certified or bank cashier’s check payable to the order of the Company, in an amount equal to the number of Option Shares being
purchased multiplied by the Exercise Price (the “Exercise Consideration”), 

  

	 	•	 	 in unrestricted shares of the Company’s common stock (the “Tendered Shares”) with a market value equal to the Exercise Consideration,

  

	 	•	 	 by delivery of an unconditional and irrevocable undertaking by a broker to deliver promptly to the Company sufficient funds to pay the Exercise
Consideration, or 

  

	 	•	 	 any combination of cash, certified or bank cashier’s check or Tendered Shares having a total value equal to the Exercise Consideration.

 Tendered Shares that were acquired directly from the Company may be surrendered as all or part of the Exercise
Consideration only if you acquired such Tendered Shares more than six months prior to the date of exercise (or such other minimum length of time the Board expressly approves). As soon as reasonably practicable after receipt of the Exercise Notice
and the Exercise Consideration, the Company will deliver or cause to be delivered to you a certificate or certificates representing the number of Option Shares you purchased, registered in your name. 
 6. Rights With Respect to Option Shares. Prior to the date the Option is exercised, you shall not be considered to be the holder of
the common stock represented by the Option

  

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Shares for any purpose. Upon the issuance to you of a certificate or certificates representing Option Shares, you shall have ownership of those Option Shares, including the right to vote and
receive dividends, subject, however, to the other restrictions and limitations that may be imposed either pursuant to the Plan and this Option Agreement or which may now or at some date in the future be imposed by the Certificate of Incorporation or
the By-Laws of the Company. 
 7. Dilution and Other Adjustments. In the event a stock dividend, stock split or
combination of shares, or other distribution with respect to holders of common stock other than normal cash dividends, occurs while the Option is outstanding (after the Grant Date and before the date the Option is exercised), the committee appointed
by the Company’s Board of Directors to administer the Plan (the “Committee”) shall in the manner determined in its sole discretion adjust the number of shares for which the Option may be exercised and the Exercise Price for the Option
to reflect such event. In the event any recapitalization, merger or consolidation involving the Company, any transaction in which the Company becomes a subsidiary of another entity, any sale or other disposition of all or a substantial portion of
the assets of the Company or any similar transaction, as determined by the Committee, (any of the foregoing, a “covered transaction”) occurs while the Option is outstanding, the Committee in its discretion may (i) accelerate the
exercisability of the Option, (ii) adjust the terms of the Option (whether or not in a manner that complies with the requirements of Section 424(a) of the Internal Revenue Code of 1986, as amended (the “Code”)), (iii) if
there is a survivor or acquiror entity, provide for the assumption of the Option by such survivor or acquiror or an affiliate thereof or for the grant of one or more replacement options by such survivor or acquiror or an affiliate thereof, in each
case on such terms (which may, but need not, comply with the requirements of Section 424(a) of the Code) as the Committee may determine, (iv) terminate the Option (provided, that if the Committee terminates the Option, it shall, in
connection therewith, either (A) accelerate the exercisability of the Option prior to such termination, or (B) provide for a payment to the holder of the Option of cash or other property or a combination of cash or other property in an
amount reasonably determined by the Committee to approximate the value of the Option assuming an exercise immediately prior to the transaction, or (C) if there is a survivor or acquiror entity, provide for the grant of one or more replacement
options pursuant to clause (iii) above), or (v) provide for none of, or any combination of, the foregoing. No fraction of a share or fractional shares shall be purchasable or deliverable under this Option Agreement. 
 8. Reservation of Shares. The Company will at all times during the term of this Option Agreement reserve and keep available enough
shares of its common stock to satisfy the requirements of this Option Agreement and shall pay all fees and expenses necessarily incurred by the Company in connection with this Option Agreement and the issuance of Option Shares. 
 9. Taxes. The Company, in its sole discretion, will determine whether the Company, any of its subsidiaries, or any other person has
incurred or will incur any liability to withhold any federal, state or local income or other taxes by reason of the grant or exercise of the Option, the issuance of Option Shares to you or the lapse of any restrictions applicable to the Option
Shares. You agree to pay promptly, upon demand by the Company or any of its subsidiaries, to the Company or such subsidiary, any amount requested by it for the purpose of satisfying such tax liability. If you fail to pay promptly the amount
requested, the Company will refuse to issue you the Option Shares and will, without further consent by you, have the right to deduct such taxes

  

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from any payment of any kind otherwise due to you, and may hold back from the Option Shares to be delivered to you on exercise that number of shares calculated to satisfy all federal, state,
local or other applicable taxes required to be withheld in connection with such exercise. 
 The Company may permit you to
satisfy the minimum statutory withholding tax requirement (the “Obligation”) arising from exercise of the Option by making an election (an “Election”) to have the Company withhold from the number of shares to be issued upon
exercise of the Option, or to otherwise tender to the Company, that number of shares of common stock having a value equal to the amount of the Obligation. The fair market value of the shares to be withheld or tendered shall be determined in
accordance with the Company’s Stock Option and Equity Award Grant and Exercise Procedures as then in effect. Each Election must be made at the time the Option is exercised or the date the amount of the Obligation is determined (the “Tax
Date”), whichever is later. The Committee may disapprove of any Election or may suspend or terminate the right to make Elections. An Election is irrevocable. 
 10. Determination of Rights. Any dispute or disagreement concerning the Plan or this Option Agreement shall be determined by the committee appointed by the Company’s Board of Directors to
administer the Plan (the “Committee”), in its sole discretion, and any decision made by the Committee in good faith shall be conclusive on you and all other parties. The interpretation, construction and determination of any question by the
Committee of any provision of this Option Agreement or the Plan, or any rule or regulation adopted pursuant to the Plan, shall be final and conclusive on all parties. 
 11. Limitation of Employment Rights. The Option confers upon you no right to continue in the employ of the Company or an Affiliated Employer or interferes in any way with the right of the Company
or an Affiliated Employer to terminate your employment at any time. 
 12. Communications. Any communication or notice
required or permitted to be given under this Option Agreement will be in writing, and mailed by registered or certified mail, by express courier or delivered in hand, to the Company addressed to its Stock Option Administrator, Kadant Inc., One
Technology Park Drive, Westford, MA 01886, and to you at the address you most recently have given to the Company. 
 13. Data
Protection Applicable to Optionees Resident Outside the United States. You consent to and authorize the transfer and disclosure of personal information or other data (other than sensitive personal data) related to the grant of stock options,
including without limitation, information regarding your age, date of birth, compensation, national insurance or other identifying tax numbers and details regarding your Option, and any similar options previously granted to you by the Company, to
your local employer, the Company, any third party retained by the Company to administer the record-keeping or exercise of stock options, any third party engaged by you to administer the exercise of the stock options (including any broker engaged by
you to facilitate an exercise of the stock options and a sale of the Option Shares) and any governmental and regulatory authorities, regardless of the country of residence of the person to whom the data is transferred, for the purpose of
administering the Company’s stock option programs and plans. You understand that the information that is disclosed or transferred will be maintained for seven years after you cease to participate in the Company’s stock option

  

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programs or for such longer period as is required by applicable law. If you are a resident of the United Kingdom and the disclosure or transfer is to a person resident outside the European
Economic Area, the Company shall take reasonable steps to ensure that your rights and freedoms in relation to the processing of the relevant personal data are adequately protected. 
  

 6Amendment to Mortgage and Security Agreement

 Exhibit 10.33 
 AMENDMENT OF MORTGAGE AND SECURITY AGREEMENT 
 THIS AMENDMENT OF MORTGAGE AND SECURITY AGREEMENT (this “Amendment”), dated as of the 3rd day of January, 2010 is made by KADANT INC., a Delaware corporation (the “Mortgagor”), successor by merger
to Kadant Web Systems, Inc., a Massachusetts corporation (“KWSI”), and RBS CITIZENS, NATIONAL ASSOCIATION (the “Mortgagee”), successor by merger to Citizens Bank of Massachusetts (“Citizens”). 
 WHEREAS, KWSI executed that certain Mortgage and Security Agreement dated as of May 4, 2006 to Citizens recorded with the Worcester
District Registry of Deeds, Book 38918, Page 254 covering real estate located at 35 Sword Street, Auburn, Massachusetts (“the Mortgage”); and 
 WHEREAS, KWSI has merged into the Mortgagor pursuant to Delaware and Massachusetts law and the Mortgagor has filed a Certificate of Merger with the Secretary of the Commonwealth of Massachusetts and the
Secretary of the State of Delaware; and 
 WHEREAS, the Mortgagee and the Mortgagor wish to amend the Mortgage as set forth
below; and 
 WHEREAS, all capitalized terms used and not defined herein shall have the same meaning set forth in the Mortgage.

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Mortgagor and the Mortgagee agree as follows: 
 1. The text following the heading “RECITALS” and preceding the
heading “GRANTING CLAUSE” on page 1 of the Mortgage is hereby deleted and the following substituted therefor: 
 The Mortgagor has executed to the Mortgagee that certain Promissory Note in the original principal amount of Ten Million Dollars ($10,000,000.00) dated as of May 4, 2006 to the Mortgagee (together
with all amendments, modifications, replacements, renewals and extensions thereof, the “Note”). 

 This Mortgage, the Note, and the other Mortgages (as defined in the Note)
together with all other documents or instruments previously, now or hereafter executed by any of the Borrower or the Guarantors (as defined in the Note) in favor of the Mortgagee in connection with the Loan (as defined below) or entered into by any
of the Borrower or the Guarantors and the Mortgagee in connection with the Loan, including without limitation, interest rate swap agreements, interest rate cap agreements, interest rate collar agreements and all other agreements or arrangements
designed to protect the Mortgagor against fluctuations in interest rates or currency exchange rates, including any and all extensions, renewals, amendments, modifications and supplements thereof, are collectively referred to herein as the “Loan
Documents.” 
 2. The first paragraph of the text following the heading “GRANTING CLAUSE” is deleted and
the following substituted therefor: 
 NOW, THEREFORE, in consideration of the Mortgagee’s making the loan
that is evidenced by the Note (the “Loan”), and in order to secure the payment of all amounts due and payable thereunder up to Four Million Five Hundred Thousand Dollars ($4,500,000.00), (the “Obligations”), the Mortgagor does
hereby give, grant, bargain, sell and confirm to the Mortgagee, with MORTGAGE COVENANTS, the following property, rights and interests, TO HAVE AND TO HOLD unto the Mortgagee, its successors and assigns forever: 
 3. Section 1.12(c) is deleted and the following is substituted therefor: 
 (c) “Permitted Transfers” shall mean the transfer of the Mortgaged Property, or the Collateral, or any part thereof
or interest therein, or of any interests in the Mortgagor, (i) to any entity owned or controlled by the Mortgagor or under common control with the Mortgagor, provided that if the whole or any part of the Mortgaged Property or Collateral is so
transferred, such transferee shall execute a limited guaranty and mortgage and security agreement (or similar document) acceptable to the Mortgagee, or (ii) to any other entity, provided the Mortgagor provides (x) cash collateral for the
Obligations or (y) other substitute collateral for the Obligations approved by the Mortgagee (which approval shall not be unreasonably withheld if the value of such substitute collateral together with the other collateral for the Loan, is
(1) sufficient to satisfy an eighty percent (80%) loan-to-value ratio for the then outstanding balance of the Loan and (2) satisfies the Mortgagee’s environmental and title requirements) and the owner of such substitute
collateral executes a limited guaranty and a mortgage (in the case of real estate collateral) and security agreement (or other applicable security document) acceptable to the Mortgagee prior to any such transfer (together, the “Substitute
Security Documents”), provided that if such substitute collateral is real estate, if the mortgage and security agreement is substantially the same as the Mortgage, except to such extent that revisions are necessary to comply with the
requirements of the laws of the state in which such real estate is located, it will be acceptable to the Mortgagee. 
  

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 4. Section 2.1 is deleted and the following is substituted therefor: 
 2.1. Events of Default. The occurrence of any one or more of the following shall be deemed an “Event of
Default” under this Mortgage: 
 (a) any failure by the Mortgagor to pay any principal due under the Note at
maturity or upon acceleration; or 
 (b) any failure by the Mortgagor or any of the Guarantors to pay any other
sum to be paid to the Mortgagee under this Mortgage or any other Loan Document and such failure continues for five (5) days after written notice from the Mortgagee to the Mortgagor that such amount was due in accordance with the terms of this
Mortgage or any other Loan Document; or 
 (c) any breach by the Mortgagor or any of the Guarantors, or failure
of the Mortgagor or any of the Guarantors to observe, any other covenant, term or condition contained in this Mortgage or in any other Loan Document, or in any certificate or side letter executed and delivered in connection with the Loan Documents,
and such breach or failure continues for thirty (30) days after written notice thereof from the Mortgagee to the Mortgagor or if such breach or failure cannot through the exercise of reasonable diligence be cured within said 30-day period, such
additional period of time as may reasonably be required to cure such matter, not to exceed one hundred eighty (180) days, provided that the Mortgagor or Guarantor shall commence to cure such breach or failure with thirty (30) days and use
diligent efforts to complete such cure (except for any breach or failure to observe any term or condition contained in Section 1.5, 1.7, 1.8 or 1.12 or any application of insurance proceeds by the Mortgagor in violation of the provisions of
Section 1.8, each of which shall constitute an Event of Default without notice or any opportunity to cure); or 
 (d) the occurrence of any Event of Default, which phrase shall mean a default after any applicable notice and beyond any applicable cure period, under that certain $75,000,000 Credit Agreement among Kadant Inc. and JP Morgan Chase Bank,
N.A., as Administrative Agent, et al., dated as of February 13, 2008, and all amendments, modifications, extensions, substitutions, or replacements thereof, including, without limitation, new loan documents entered into in connection with any
re-financings of the loan described therein; or 
 (e) title to the Mortgaged Property or the Collateral is or
becomes unsatisfactory to the Mortgagee in its reasonable sole discretion by reason of any lien, charge, encumbrance, title condition or exception not listed in Exhibit B (including without limitation, any mechanic’s, materialman’s
or similar statutory or common law lien or notice thereof), and such matter causing title to be or become unsatisfactory is not cured or removed (including by bonding) within twenty (20) days after notice thereof from the Mortgagee to the
Mortgagor; or 
  

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 (f) any material representation or warranty made or deemed to be made by or
on behalf of the Mortgagor or any of the Guarantors in any Loan Document, or in any report, certificate, financial statement, document or other instrument delivered by or on behalf of such party pursuant to or in connection with any Loan Document,
shall prove to have been false or incorrect in any material respect upon the date when made or deemed to be made or repeated; or 
 (g) any dissolution, termination, partial or complete liquidation, merger or consolidation of the Mortgagor, or any Guarantor, or any sale, transfer or other disposition of all or substantially all of the
assets of the Mortgagor, or any Guarantor, other than as permitted under the terms of this Mortgage; or 
 (h)
any suit or proceeding shall be filed against the Mortgagor or any Guarantor, the Mortgaged Property or the Personal Property which, if adversely determined, would have a materially adverse affect on the ability of the Mortgagor or any Guarantor to
perform their obligations under and by virtue of the Loan Documents and such suit or proceeding is not dismissed within thirty (30) days after notice thereof; or 
 (i) the Mortgagor or any of the Guarantors shall file a voluntary petition in bankruptcy under Chapter 11 of the United
States Bankruptcy Code, or an order for relief shall be issued against any of the Mortgagor or the Guarantors in any involuntary petition in bankruptcy under Chapter 11 of the United States Bankruptcy Code and such order is not dismissed within
ninety (90) days after the issuance thereof, or the Mortgagor or any of the Guarantors shall file any petition or answer seeking or acquiescing in any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar
relief for itself under any present or future federal, state or other law or regulation relating to bankruptcy, insolvency or other relief of debtors, or the Mortgagor or any of the Guarantors shall seek or consent to or acquiesce in the appointment
of any custodian, trustee, receiver, conservator or liquidator of the Mortgagor or any of the Guarantors, or of all or any substantial part of the property of the Mortgagor or any of the Guarantors, or the Mortgagor or any of the Guarantors shall
make an assignment for the benefit of creditors, or the Mortgagor or any of the Guarantors shall give notice to any governmental authority or body of insolvency or pending insolvency or suspension of operation; or 
 (j) a court of competent jurisdiction shall enter any order, judgment or decree approving a petition filed against the
Mortgagor or any of the Guarantors seeking any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any present or future federal,

  

 -4- 

 
state or other law or regulation relating to bankruptcy, insolvency or other relief for debtors, or appointing any custodian, trustee, receiver, conservator or liquidator of all or any
substantial part of its property; or 
 (k) any uninsured final judgment in excess of $250,000.00 shall be
rendered against the Mortgagor or any of the Guarantors and shall remain in force, undischarged, unsatisfied and unstayed, for more than sixty (60) days, whether or not consecutive, unless any of the Mortgagor or the Guarantors posts a bond for
any such amount in excess of $250,000.00; or 
 (l) any of the Loan Documents shall be cancelled, terminated,
revoked or rescinded otherwise than in accordance with the terms thereof or with the express prior approval of the Mortgagee, or any action at law, suit in equity or other legal proceeding to cancel, revoke or rescind any of the Loan Documents shall
be commenced by or on behalf of the Mortgagor or any of the Guarantors or any of the stockholders of the Mortgagor or any of the Guarantors or any court or any other governmental or regulatory authority or agency of competent jurisdiction shall make
a determination that, or issue a judgment, order, decree or ruling to the effect that, any one or more of the Loan Documents is illegal, invalid or unenforceable in accordance with the terms thereof. 
 5. The addresses for notices contained in Section 4.2 shall be deleted and the following substituted therefor: 
 If to the Mortgagee: 
 RBS Citizens, National Association 
 28 State Street 
 Boston, Massachusetts 02109 
 Attn: William E. Lingard, Senior Vice President 
 Phone: (617) 994-7114 
 Fax: (617) 723-9371 
 with a copy to: 
 Thomas L. Guidi, Esq. 
 Hemenway & Barnes LLP 
 60 State Street 
 Boston, Massachusetts 02109 
 Phone: (617) 227-7940 
 Fax: (617) 227-0781 
  

 -5- 

 If to the Mortgagor to: 
 Kadant Inc. 
 One
Technology Park Drive 
 Westford, Massachusetts 01886 
 Attn: Daniel J. Walsh, Treasurer 
 Phone: (978) 776-2020 
 Fax: (978) 635-1593 
 and to: 
 Sandra L.
Lambert 
 Vice President, General Counsel and Secretary 
 Kadant Inc. 
 One
Technology Park Drive 
 Westford, Massachusetts 01886 
 Phone: (978) 776-2013 
 Fax: (978) 635-1593 
 6. All other terms and conditions of the Mortgage are hereby ratified and confirmed.

 [Remainder of page left intentionally blank.] 
  

 -6- 

 [Amendment of Mortgage and Security Agreement] 
 Executed as a sealed instrument as of the date first above written. 
  
  

			
	KADANT INC.
		
	By:	 	 /s/ Daniel J. Walsh

		 	Daniel J. Walsh,
		 	Treasurer
	
	 RBS CITIZENS, NATIONAL
 ASSOCIATION

		
	By:	 	 /s/ William E. Lingard

		 	William E. Lingard,
		 	Senior Vice President

 COMMONWEALTH OF MASSACHUSETTS

 COUNTY OF MIDDLESEX 
 Before me, the undersigned notary public, on this 30th day of December, 2009, personally appeared Daniel J. Walsh, who is personally known to me or was provided to me through a current document issued by a federal or state government agency bearing a
photographic image of the signatory’s face and signature to be the person whose name is signed to the foregoing instrument and acknowledged to me that he signed it as his free act and deed and the free act and deed of Kadant Inc. as Treasurer
of Kadant Inc., for its stated purpose. 
  

	
	 /s/ Sandra L. Lambert

	[notary seal]

  

 -7- 

 COMMONWEALTH OF MASSACHUSETTS 
 COUNTY OF SUFFOLK 
 Before me, the undersigned notary public,
on this 30th day of December, 2009, personally appeared
William E. Lingard, who is personally known to me or was provided to me through a current document issued by a federal or state government agency bearing a photographic image of the signatory’s face and signature to be the person whose name is
signed to the foregoing instrument and acknowledged to me that he signed it as his free act and deed and the free act and deed of RBS Citizens, National Association as Senior Vice President of RBS Citizens, National Association, for its stated
purpose. 
  

	
	 /s/ Christopher Rothwell

	[notary seal]

  

 -8-

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