Document:

Exhibit 10.1 Release Agreement Novello

    Exhibit
      10.1

     

    GENERAL
      RELEASE

    

    THIS
      GENERAL RELEASE (hereinafter "Release") is made and entered into by and between
      Benjamin Novello ("Employee") and OS Restaurant Services, Inc. (“Employer”).
      Employee was previously employed by Employer and its affiliates. The parties
      desire to settle any and all disputes between them on terms that are mutually
      agreeable. Accordingly, in consideration of the mutual promises set forth below,
      Employer and Employee agree as follows:

    

    
      	1.  	
              Employer
                will pay to Employee the sum of Four Hundred Twenty Five Thousand
                Dollars
                ($425,000).00), as severance pay in return for Employee’s execution of
                this release, which is intended to fully and finally resolve any
                and all
                matters between Employer and its affiliates and Employee, whether
                actual
                or potential, on terms that are mutually agreeable. 

            

    

    

    
      	2.  	
              By
                entering into this Release, Employer does not admit any underlying
                liability to Employee. Neither Employer nor Employee is entering
                this
                Release because of any wrongful acts of any
                kind.

            

    

    

    
      	3.  	
              Employee
                promises and obligates himself to perform the following covenants
                under
                this Release:

            

    

    

    
      	a.)  	
              Acting
                for himself, his heirs, personal representatives, administrators
                and
                anyone claiming by or through him, Employee unconditionally and
                irrevocably releases, acquits and discharges Employer and Releasees
                from
                any and all claims, whether known or unknown, that Employee may have
                against Employer or Releasees as of the date of this Release, or
                that any
                person or entity claiming through Employee may have or claim to have
                against Employer or Releasees.

            

    

    

    
      	i)  	
              The
                phrases “Employer” or “Employer and Releasees” or “Employer and Releasees”
                shall mean each of OS Restaurant Services, Inc., Outback Steakhouse
                of
                Florida, Inc., OSI Restaurant Partners, Inc. and all of their subsidiaries
                and affiliated entities and all related business concepts, as well
                as
                their past and present directors, officers, partners, shareholders,
                supervisors (including, but not limited to, employees, representatives,
                successors, assigns, subsidiaries, affiliates, parents, franchisees,
                and
                insurers. 

            

    

    

    
      	ii)  	
              The
                term “claims” shall include lawsuits, causes of action, obligations,
                promises, agreements, controversies, damages, debts, demands, liabilities,
                and losses of every kind whether from accidental injury, illness,
                occupational disease, or intentional acts. The term “claims” specifically
                includes third-party claims for indemnity or contribution against
                Employer
                or its Releasees.

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      	b.)  	
              Employee
                waives and relinquishes any rights that Employee may have to claim
                reimbursement from Employer for attorney’s fees, litigation costs or
                expenses that Employee may have incurred in the course of obtaining
                legal
                advice on any matter related to Employer, except as otherwise expressly
                provided for herein. 

            

    

    

    
      	c.)  	
              Employee
                waives and disclaims any right to any compensation that may be recovered
                at any time after the execution of this Release as a result of any
                proceeding arising out of or related to the employment relationship
                that
                is brought under the jurisdiction or authority of the Equal Employment
                Opportunity Commission ("EEOC"), the Florida Commission on Human
                Relations, the U.S. Department of Labor, or any other local, state,
                or
                federal court or agency. If any such agency or court assumes jurisdiction
                of or files any complaint, charge, or proceeding against Employer
                or its
                Releasees, Employee will request such agency or court to dismiss
                or
                withdraw from the matter. 

            

    

    

    
      	d.)  	
              Employee
                agrees that he will preserve the confidentiality of this Release
                and not
                discuss or disclose its existence, substance, or contents to anyone
                except
                as compelled or authorized by law. 

            

    

    

    
      	e.)  	
              Employee
                agrees that he will not disparage Employer in any way to any person
                or
                entity. Employee specifically agrees that he will not communicate
                to any
                other person any opinions held by Employee regarding Employer’s compliance
                with laws governing the employment relationship unless he receives
                Employer’s express written permission to do so. Notwithstanding this
                provision, in the unlikely event that Employee is subpoenaed as part
                of a
                government entity’s investigation of Employer, Employee may provide
                truthful information about his employment to the government entity
                without
                violating this Release.

            

    

    

    
      	f.)  	
              Employee
                shall direct any prospective employers that ask for references regarding
                his employment with Employer to contact Employer’s General Counsel.
                

            

    

    

    
      	g.)  	
              Employee
                shall comply with all other terms of this Release as provided for
                herein,
                including the following:

            

    

    

    

    (i)
       Noncompetition.
      

     

     

    
      	(A)  	
              Post
                Term.
                For a continuous period of two
                (2)
                years commencing on expiration
                of the revocation period defined in paragraph 8
                Employee shall not, individually or jointly with others, directly
                or
                indirectly, whether for the
                Employee’s own account or for that of any other person or entity, engage
                in or own or hold any ownership

            

       

      
        
          
          

        

        
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              interest
                in any person or entity engaged in a casual
                steakhouse restaurant
                business that is located or intended to be located anywhere within
                a
                radius of thirty (30) miles of any Outback
                Steakhouse restaurant
                owned or operated by the Employer,
                any of the Releasees,
                or
                any franchisee of any Releasee, and
                their respective
                subsidiaries
                or affiliates, or any of the affiliates any of the foregoing, and
                Employee
                shall not act as an officer, director, employee, partner, independent
                contractor, consultant, principal, agent, proprietor, or in any other
                capacity for, nor lend any assistance (financial or otherwise) or
                cooperation to, any such person, or entity.

            

    

     

    
      	(B)  	
              Limitation.
                Notwithstanding subsections (a), it shall not be a violation of this
                paragraph (in
                and of itself) for
                Employee to own a one percent (1%) or smaller interest in any corporation
                required to file periodic reports with the Securities and Exchange
                Commission pursuant to the Securities Exchange Act of 1934, as amended,
                or
                successor statute,
                if Employee does not otherwise violate the provisions of (A)
                above.

            

    

    

    
      	(C)  	
              Scope.
                Nothing contained in this paragraph shall be construed as limiting
                Employee’s ability to engage in any restaurant business other than the
                casual steakhouse restaurant business. Casual steakhouse restaurant
                shall
                mean a restaurant primarily featuring steak on its menu, in its name
                or in
                its advertising and having an average per person check less than
                $30.00.

            

    

    

    (ii)
       Nondisclosure;
      Nonsolicitation; Nonpiracy.
       At
      no time
      shall Employee, individually or jointly with others, for the benefit of Employee
      or any third party, publish, disclose, use, or authorize anyone else to publish,
      disclose, or use, any secret or confidential material or information relating
      to
      any aspect of the business or operations of the Employer,
      any of the Releasees,
      or
their
      respective
      affiliates, including, without limitation, any secret or confidential
      information relating to the business, customers, trade or marketing
      practices, trade secrets, technology, recipes or know-how of any of the
employer,
      any Releasee,
      or
any
      of
      their respective
      affiliates. Moreover, for a
      continuous period of two
      (2)
      years
      commencing upon expiration of the revocation period defined in paragraph 8
      Employee
      shall not,
      directly or indirectly through others,
      offer
      employment to any employee of the Employer,
      any Releasee,
      or
      their
      respective
      franchisees or affiliates, or otherwise solicit or induce any employee of the
      Employer,
      any Releasee,
      or
      their
      respective
      franchisees or affiliates to terminate their employment, nor shall Employee act
      as an officer, director, employee, partner, independent contractor, consultant,
      principal, agent, proprietor, owner or part owner, or in any other capacity,
      for
      any person or entity that solicits or otherwise induces any employee
at
      the
      rank of Joint Venture Partner or higher or any systematic solicitation of
      employees at the rank of Managing Partner of
      the
Employer
      or its affiliates, any of the Releasees,
      or
      their
      respective
      franchisees or affiliates to terminate their employment.

    

    (iii) Employer
      Property:
      Employee Duty to Return.
      All
      products, recipes, product specifications, marketing
      materials, marketing plans and budgets, training
      materials, employee

     

    
      
        
        

      

      
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    selection
      and testing materials, marketing and advertising materials, special event,
      charitable and community activity materials, customer correspondence, internal
      memoranda, products and designs, sales information, project files, price lists,
      customer and vendor lists, prospectus reports, customer or vendor information,
      sales literature, territory printouts, call books, notebooks, textbooks, and
      all
      other like information or products, including all copies, duplications,
      replications, and derivatives of such information or products, now in the
      possession of Employee or acquired by Employee while in the employ of the
Employer
      or the Releasees,
      shall
      be the exclusive property of the Employer
      and the Releasees
      and
      shall be returned to the Employer
      no
      later
      than the date of execution
      hereof.

    

    (iv)
       Restrictive
      Covenants: Consideration; Non-Estoppel; Independent Agreements; and
      Non-Executory Agreements.
      The
      restrictive covenants of paragraph
      3 g)
      are
      given and made by Employee to induce the Employer
      and Releasees to
      enter
      into this Agreement with the Employee, and Employee hereby acknowledges that
      this
      Agreement is
      sufficient consideration for these restrictive covenants.

    

    The
      refusal or failure of the Employer
      or the Releasees
      to
      enforce any restrictive covenant of
      this
      Agreement (or any similar agreement) against any other employee, agent, or
      independent contractor, for any reason, shall not constitute a defense to the
      enforcement by the
      Employer or the Releasees
      of any
      such restrictive covenant, nor shall it give rise to any claim or cause of
      action by Employee against the Employer
      or Releasees.

    

    (v)  Reasonableness
      of Restrictions; Reformation; Enforcement.
      The
      parties hereto recognize and acknowledge that the geographical and time
      limitations contained in this
      paragraph 3 g)
      are
      reasonable and properly required for the adequate protection of the Employer
      and Releasees’s
      interests. 
      It is
      agreed by the parties hereto that if any portion of the restrictions contained
      in this
      paragraph 3 g)
      are held
      to be unreasonable, arbitrary, or against public policy, then the restrictions
      shall be considered divisible, both as to the time and to the geographical
      area,
      with each month of the specified period being deemed a separate period of time
      and each radius mile of the restricted territory being deemed a separate
      geographical area, so that the lesser period of time or geographical area shall
      remain effective so long as the same is not unreasonable, arbitrary, or against
      public policy. The parties hereto agree that in the event any court of competent
      jurisdiction determines the specified period or the specified geographical
      area
      of the restricted territory to be unreasonable, arbitrary, or against public
      policy, a lesser time period or geographical area that is determined to be
      reasonable, nonarbitrary, and not against public policy may be enforced against
      Employee. If Employee shall violate any of the covenants contained herein and
      if
      any court action is instituted by the to prevent or enjoin such violation,
      then
      the period of time during which the Employee’s business activities shall be
      restricted, as provided in this Agreement, shall be lengthened by a period
      of
      time equal to the period between the date of the Employee’s breach of the terms
      or covenants contained in this Agreement and the date on which the decree of
      the
      court disposing of the issues upon the merits shall become final and not subject
      to further appeal.

     

    
      
        
        

      

      
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    In
      the
      event it is necessary for the Employer
      or any Releasee
      to
      initiate legal proceedings to enforce, interpret or construe any of the
      covenants contained in this
      paragraph 3 g),
      the
      prevailing party in such proceedings shall be entitled to receive from the
      non-prevailing party, in addition to all other remedies, all costs, including
      reasonable attorneys’ fees, of such proceedings including appellate
      proceedings.

    

    (vi) Specific
      Performance.
      Employee
      agrees that a breach of any of the covenants contained in this
      paragraph 3 g)
      will
      cause irreparable injury to the Employer
      and Releasees
      for
      which the remedy at law will be inadequate and would be difficult to ascertain
      and therefore, in the event of the breach or threatened breach of any such
      covenants, the Employer
      and Releasees
      shall be
      entitled, in addition to any other rights and remedies it may have at law or
      in
      equity, to obtain an injunction to restrain Employee from any threatened or
      actual activities in violation of any such covenants. Employee hereby consents
      and agrees that temporary and permanent injunctive relief may be granted in
      any
      proceedings that might be brought to enforce any such covenants without the
      necessity of proof of actual damages, and in the event the Employer
      and Releasees
      does
      apply for such an injunction, Employee shall not raise as a defense thereto
      that
      the Employer
      and Releasees
      has an
      adequate remedy at law.

    

    
      	4.  	
              Employer
                promises and obligates itself to perform the following covenants
                under
                this Release:

            

    

    

    
      	i)  	
              Employer
                shall pay Employee the sum of Four Hundred Twenty Five Thousand Dollars
                ($425,000.00) as severance pay; payable within five (5) business
                days
                after expiration of the revocation period described in paragraph
                8 hereof.
                

            

    

    

    
      	ii)  	
              Employer
                shall make all usual deductions and withholdings from the severance
                pay
                and shall give Employee a check stub showing the amounts deducted
                or
                withheld.

            

    

    

    

    
      	b.)  	
              Employer
                shall comply with all other terms of this Release as provided for
                herein.

            

    

     

    
      	5.  	
              Delivery
                of the severance pay described in paragraph 4 shall constitute
                satisfaction by Employer of any and all claims by Employee against
                Employer and the Releasees. This Release specifically releases Employer
                and its Releasees from any and all obligations arising out of Employee's
                employment, including, but by no means limited to, claims arising
                under
                the Age Discrimination in Employment Act, the Civil Rights Act of
                1964 (as
                amended), the Americans with Disabilities Act, the Family Medical
                Leave
                Act, the Fair Labor Standards Act, the United States Constitution,
                the
                Florida Civil Rights Act, the Florida Workers Compensation Act, and
                other
                state and federal laws dealing with discrimination or workplace policies,
                as well as claims for unpaid wages, unpaid commissions, breach of
                contract, wrongful termination, retaliation, intentional
                infliction

            

       

      
        
          
          

        

        
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              of
                emotional distress, negligent hiring, invasion of privacy, defamation,
                slander, or any other tort arising out of the employment
                relationship.

            

    

    

    
      	6.  	
              Should
                any portion of this settlement be alleged or found to violate any
                federal,
                state, or local law or regulation, Employee agrees to indemnify and
                hold
                harmless Employer and its Releasees for (a) any amounts they are
                required
                to pay as a result of such violation; (b) any amounts they agree
                to pay to
                settle any allegations of such violations; and (c) all reasonable
                legal
                fees or expenses that Employer or its Releasees incur in defending
                this
                settlement or their participation
                therein.

            

    

    

    
      	7.  	
              Employee
                shall have a period of twenty-one calendar days (“the consideration
                period”) from the date he is presented with this Release to consider the
                Release’s terms and consequences before executing the Release. Employee is
                not required to let the full consideration period elapse before executing
                the Release; rather, the Release may be executed on any date within
                the
                consideration period.

            

    

    

    
      	8.  	
              Employee
                and Employer agree that Employee may revoke the Release for any reason
                at
                any time during the seven calendar days immediately following Employee’s
                execution of the Release ("the revocation period"). To revoke this
                Release, Employee must cause written notice of his intent to revoke
                this
                Release to be delivered to Employer’s Executive Vice President and General
                Counsel, Joseph J. Kadow, within the revocation period. This Release
                shall
                not become effective or enforceable until the revocation period has
                expired without such notice having been delivered to
                Employer.

            

    

    

    
      	9.  	
              Employee
                agrees that each of the following statements is truthful and accurate:
                

            

    

    

    
      	a.)  	
              Employee
                is of sound mind and body.

            

    

    

    
      	b.)  	
              Employee
                has sufficient education and experience to make choices for himself
                that
                may affect his legal rights.

            

    

    

    
      	c.)  	
              Employee
                has full legal capacity to make decisions for
                himself;

            

    

    

    
      	d.)  	
              Employee
                is aware that this Release has significant legal
                consequences.

            

    

    

    
      	e.)  	
              Employee
                has had the opportunity to consult with an attorney of his choice
                prior to
                signing this Release and has been advised by the Employer to take
                advantage of this opportunity.

            

    

    

    
      	f.)  	
              Employee
                has decided to sign this Release of his own free will, and his decision
                to
                sign this Release has not been unduly influenced or controlled by
                any
                mental or emotional impairment or
                condition.

            

    

     

    
      
        
        

      

      
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      	g.)  	
              Employee
                is not executing this Release because of any duress or coercion imposed
                on
                him by anyone.

            

    

    

    
      	10.  	
              Employee
                represents that he has not sold, transferred, or assigned to a third
                party
                any claims that he may have. Employee represents that any claims
                that he
                may have are unencumbered and otherwise within his power to dispose
                of.

            

    

    

    
      	11.  	
              Except
                as otherwise specifically provided herein, any and all prior
                understandings and agreements between Employee and Employer with
                respect
                to the subject matter of this Release are merged into this Release,
                which
                fully and completely expresses the entire agreement and understanding
                of
                the parties with respect to the subject matter
                hereof.

            

    

    

    
      	12.  	
              This
                Release shall not be orally amended, modified, or changed. No change,
                amendment, or modification to the terms of this Release shall be
                valid
                unless such change, amendment, or modification is memorialized in
                a
                written agreement between the parties that has been signed by Employee
                and
                by duly authorized officers or representatives of
                Employer.

            

    

    

    
      	13.  	
              This
                Release is made and entered into in the state of Florida, and shall
                in all
                respects be interpreted, enforced and governed under the laws of
                Florida.
                In the event of a breach of this Release by either party, the other
                party
                shall be entitled to seek enforcement of this Release exclusively
                before a
                state or federal court of competent jurisdiction located in Hillsborough
                County, Florida. This Release shall not be construed to waive any
                right of
                removal that may apply to any action filed in state court by either
                party
                to this Release. 

            

    

    

    
      	14.  	
              In
                the event a breach of the Release is proven, the non-breaching party
                may
                recover, in addition to damages, the reasonable costs and fees, including
                attorney's fees, incurred in establishing the breach and securing
                judicial
                relief. In the event that the provisions of this Release are breached,
                the
                non-breaching party may recover damages for the breach without waiving
                the
                right to insist on the breaching party's continued fulfillment of
                all
                other obligations under the Release. If Employee breaches his obligations
                under the Release, Employer shall have the right to terminate any
                further
                payments to Employee without discharging Employee from his responsibility
                to continue to fulfill his obligations under the Release.
                

            

    

    

    
      	15.  	
              The
                language of all parts of this Release shall in all cases be construed
                as a
                whole, according to its fair meaning, and not strictly for or against
                any
                of the parties. As used in this Release, the singular or plural shall
                be
                deemed to include the other whenever the context so indicates or
                requires.

            

    

     

    
      	16.  	
              Should
                any provision of this Release be declared or be determined by any
                court to
                be illegal or invalid, the remaining parts, terms or provisions shall
                remain valid unless declared otherwise by the court. Any part, term
                or
                provision which is determined to be

            

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

    

     

    
      	 	
              illegal
                or invalid shall be deemed not to be a part of this
                Release.

            

    

    
 

    

    PLEASE
      READ CAREFULLY. THIS GENERAL RELEASE INCLUDES

    A
      RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

    

                        Executed
      at Tampa this 30th
      day of
August,
      2006.

    

                     EMPLOYEE

    

    /s/
      W.
      Robert Donovan_______________                       /s/
      Benjamin Novello____________________

    WITNESS                                    
BENJAMIN
      NOVELLO

     

                        Executed
      at Tampa this 30th
      day of
August,
      2006.

    

    

                    EMPLOYER

    

    /s/
      W.
      Robert Donovan______________                    By:_/s/
      Joseph J. Kadow     _______________

    WITNESS      

                         
      Title:_Executive Vice President_____________

     

     

     

     

     

     

     

     

    
      8Exhibit 10k(iii)

             First Amendment to Five-Year Revolving Credit Agreement

                           dated as of April 16, 2006

      FIRST AMENDMENT dated as of August [o], 2006 (this "Amendment") to the
FIVE-YEAR REVOLVING CREDIT FACILITY AGREEMENT dated as of April 16, 2006 (as
further amended, supplemented or otherwise modified from time to time, the
"Credit Agreement"), among ALBANY INTERNATIONAL CORP., a Delaware corporation
(the "Company"), the BORROWING SUBSIDIARIES from time to time party thereto, the
LENDERS from time to time party thereto, JPMORGAN CHASE BANK, N.A., as
Administrative Agent for the Lenders (in such capacity, the "Administrative
Agent"), and J. P. MORGAN EUROPE LIMITED, as London Agent for the Lenders.

      The Company has requested that the Lenders agree to amend the Credit
Agreement in the manner provided herein, and the Lenders whose signatures appear
below, constituting the Required Lenders (such term and each other capitalized
term used and not otherwise defined herein having the meaning assigned to it in
the Credit Agreement), are willing so to amend the Credit Agreement.

      Accordingly, in consideration of the agreements herein contained and other
good and valuable consideration, the sufficiency and receipt of which are hereby
acknowledged, the parties hereto agree as follows:

      SECTION 1. Amendment to the Credit Agreement. Effective as of the First
Amendment Effective Date (as defined below), the Credit Agreement is hereby
amended as follows:

            (a) clause (d) of Section 6.07 of the Credit Agreement is hereby
      amended to read as follows:

            "(d) acquisitions of assets of or Equity Interests in other Persons
            if, at the time of and after giving pro forma effect to each such
            acquisition and any related incurrences of Indebtedness, the
            Leverage Ratio does not exceed 3.00 to 1.00, and loans or advances
            to Subsidiaries to provide funds required to effect such
            acquisitions".

            (b) clause (e)(v) of Section 6.07 of the Credit Agreement is hereby
      amended to read as follows:

            "(v) any investment, loan or advance by any Loan Party to any
      Subsidiary that is not a Loan Party (whether directly or indirectly
      through one or more intervening Subsidiaries that are not Loan Parties)
      and the business operations of which are in China, Korea or Brazil;
      provided that each investment, loan or advance referred to in the
      preceding clause (v) must be in an outstanding principal amount which,
      together with the aggregate outstanding principal amount of all other
      investments, loans and advances permitted by such clause (v), shall not
      exceed $150,000,000 at any time".
<PAGE>

            SECTION 2. Representations and Warranties. To induce the other
            parties hereto to enter into this Amendment, the Company represents
            and warrants to each of the Lenders and the Administrative Agent
            that after giving effect to this Amendment, (a) the representations
            and warranties set forth in Article III of the Credit Agreement are
            true and correct in all material respects on and as of the date
            hereof, except to the extent such representations and warranties
            expressly relate to an earlier date and (b) no Default has occurred
            and is continuing.

            SECTION 3. Effectiveness. This Amendment shall become effective as
            of the first date (the "First Amendment Effective Date") on which
            the Administrative Agent shall have received counterparts of this
            Amendment that, when taken together, bear the signatures of the
            Company and the Required Lenders.

            SECTION 4. Effect of Amendment. Except as expressly set forth
            herein, this Amendment shall not by implication or otherwise limit,
            impair, constitute a waiver of, or otherwise affect the rights and
            remedies of the Lenders or the Administrative Agent under the Credit
            Agreement or any other Loan Document, and shall not alter, modify,
            amend or in any way affect any of the terms, conditions,
            obligations, covenants or agreements contained in the Credit
            Agreement or any other Loan Document, all of which are ratified and
            affirmed in all respects and shall continue in full force and
            effect. Nothing herein shall be deemed to entitle any Loan Party to
            a consent to, or a waiver, amendment, modification or other change
            of, any of the terms, conditions, obligations, covenants or
            agreements contained in the Credit Agreement or any other Loan
            Document in similar or different circumstances. This Amendment shall
            apply and be effective only with respect to the provisions of the
            Credit Agreement specifically referred to herein. This Amendment
            shall constitute a Loan Document. The representations, warranties
            and agreements contained herein shall for all purposes of the Credit
            Agreement be deemed to be set forth in the Credit Agreement. On and
            after the First Amendment Effective Date, any reference to the
            Credit Agreement contained in the Loan Documents shall mean the
            Credit Agreement as modified hereby.

            SECTION 5. Counterparts. This Amendment may be executed in any
            number of counterparts and by different parties hereto in separate
            counterparts, each of which when so executed and delivered shall be
            deemed an original, but all such counterparts together shall
            constitute but one and the same contract. Delivery of an executed
            counterpart of a signature page of this Amendment by facsimile or
            other electronic imaging means shall be as effective as delivery of
            a manually executed counterpart hereof.

            SECTION 6. Applicable Law. THIS AMENDMENT SHALL BE GOVERNED BY AND
            CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
<PAGE>

            SECTION 7. Headings. The headings of this Amendment are for purposes
            of reference only and shall not limit or otherwise affect the
            meaning hereof.

            SECTION 8. Expenses. The Company agrees to reimburse the
            Administrative Agent for all out-of-pocket expenses in connection
            with this Amendment, including the reasonable fees, charges and
            disbursements of Cravath, Swaine & Moore LLP, counsel for the
            Administrative Agent.

      IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to
be duly executed by their duly authorized officers, all as of the date and year
first above written.

                                  ALBANY INTERNATIONAL CORP.,

                                       by
                                            ------------------------------------
                                            Name:
                                            Title:

                                  JPMORGAN CHASE BANK, N.A.,
                                  individually in its capacity as a
                                  Lender and in its capacity as
                                  Administrative Agent,

                                       by
                                            ------------------------------------
                                            Name:
                                            Title:

<PAGE>

                                                    Lender signature page to the
                                                          First Amendment to the
                                     Albany International Corp. Credit Agreement

To approve this Amendment:

Institution:__________________________,

     By

          -----------------------------------------------
          Name:
          Title:

For any Lender requiring a second signature line:

     By
          -----------------------------------------------
          Name:
          Title:

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