SEC Contract Filing

Filing Date: 2015-02-02

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d863290dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENT NO. 1 TO THE KENNAMETAL INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2006 EXECUTIVE RETIREMENT PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, Kennametal Inc. (the &#147;<B>Company</B>&#148;) sponsors and maintains the KENNAMETAL INC. 2006 EXECUTIVE RETIREMENT PLAN, as
amended December&nbsp;30, 2008 (the &#147;<B>Plan</B>&#148;) (Capitalized terms not otherwise defined herein shall have the meaning ascribed thereto in the Plan); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, in accordance with Section&nbsp;7.6 of the Plan, the Company reserves the right to amend the Plan; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, with respect to the accrual of additional Accrued Benefits under the Plan, the Corporation desires to amend the Plan to
(i)&nbsp;modify the definition of &#147;Change in Control&#148;, and (ii)&nbsp;eliminate single-trigger vesting upon a Change in Control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE</B>, the undersigned authorized officer of the Company, hereby adopts the following amendments to the Plan: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1. <U>Amendments</U></B>. With respect to Accrued Benefits earned on or after the Effective Date (as defined below), the following
provisions of the Plan are hereby amended as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>A</B>. Section&nbsp;1.2 of the Plan is hereby amended by adding the following
new definitions thereto: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;(b) &#147;<B>Affiliate</B>&#148; of a person means a person controlling, controlled by, or under common
control with such person where control means the power to direct the policies and practices of such person.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>(existing
subsections 1.2(b) through 1.2(d) being renumbered as 1.2(c) through 1.2(e))</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;(f) &#147;<B>Business Combination</B>&#148; shall
mean a merger or consolidation of the Company with another corporation or entity, other than a corporation or entity which is an Affiliate.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;(g) &#147;<B>Capital Stock</B>&#148; means the Capital Stock, par value $1.25&nbsp;per share, of the Company.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>(existing subsections 1.2(e) through 1.2(m) being renumbered as 1.2(h) through 1.2(p))</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;(q) &#147;<B>Merger of Equals</B>&#148; means (unless the Committee or Board provides otherwise) a Business Combination which results in
the following conditions: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) All or substantially all of the individuals and entities who were the beneficial owners,
respectively, of the outstanding Capital Stock and the outstanding voting securities of the Company entitled to vote generally in the election of directors immediately prior to such Business Combination beneficially own, following the Business
Combination, directly or indirectly, more than 50% of, respectively, the then outstanding shares of capital stock and the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the
corporation resulting </P>

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from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company&#146;s assets either
directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the outstanding Capital Stock and the outstanding voting securities of the Company entitled to
vote generally in the election of directors, as the case may be; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) No &#147;person&#148; (as such term is used in
Section&nbsp;13(d) and 14(d) of the Exchange Act) (excluding any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 25% or more of,
respectively, the then outstanding shares of capital stock of the corporation resulting from such Business Combination or the combined voting power of the then outsta