EX-10.2 3 kaiform10q3q2017exhibit102.htm KAI FORM 10-Q 3Q 2017 EXHIBIT 10.2
Exhibit 10.2
September 20, 2017
Ms. Sandra L. Lambert
149 College Road
Concord, MA 01742
Re: Notice of Termination of Executive Retention Agreement
Dear Ms. Lambert:
Reference is hereby made to the Amended and Restated Executive Retention Agreement dated as of December 9, 2008 by and between you, as the Executive, and Kadant Inc., as the Company (the “Executive Retention Agreement”). Capitalized terms used but not defined in this Notice shall have the meanings ascribed thereto in the Executive Retention Agreement.
Pursuant to Section 2 of the Executive Retention Agreement, the Company hereby provides notice that the Term of the Executive Retention Agreement will not be extended and shall expire on December 31, 2017. As a consequence, the Executive Retention Agreement will cease to be applicable to you as of the close of business on December 31, 2017.
Sincerely,
/s/Jonathan W. Painter
Jonathan W. Painter
President and Chief Executive Officer