<SEC-DOCUMENT>0001193125-15-304041.txt : 20150827
<SEC-HEADER>0001193125-15-304041.hdr.sgml : 20150827
<ACCEPTANCE-DATETIME>20150827093036
ACCESSION NUMBER:		0001193125-15-304041
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20150821
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150827
DATE AS OF CHANGE:		20150827

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KENNAMETAL INC
		CENTRAL INDEX KEY:			0000055242
		STANDARD INDUSTRIAL CLASSIFICATION:	MACHINE TOOLS, METAL CUTTING TYPES [3541]
		IRS NUMBER:				250900168
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05318
		FILM NUMBER:		151077405

	BUSINESS ADDRESS:	
		STREET 1:		1600 TECHNOLOGY WAY
		STREET 2:		P O  BOX 231
		CITY:			LATROBE
		STATE:			PA
		ZIP:			15650
		BUSINESS PHONE:		7245395000

	MAIL ADDRESS:	
		STREET 1:		1600 TECHNOLOGY WAY
		STREET 2:		PO BOX 231
		CITY:			LATROBE
		STATE:			PA
		ZIP:			15650
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d89938d8k.htm
<DESCRIPTION>8-K
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<TITLE>8-K</TITLE>
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 <P STYLE="line-height:2.5pt;margin-top:0pt;margin-bottom:0pt;border-bottom:2.50pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:20pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K </B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Date of report (Date of earliest event reported): August&nbsp;21, 2015 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:22pt; font-family:Times New Roman" ALIGN="center"><B>Kennametal Inc. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Exact
Name of Registrant as Specified in Its Charter) </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Pennsylvania</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>1-5318</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>25-0900168</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(State or Other Jurisdiction</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">of Incorporation)</P></TD>
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<TD VALIGN="top" ALIGN="center">(Commission File Number)</TD>
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<TD VALIGN="top" ALIGN="center">(IRS Employer Identification No.)</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:7.20em; font-size:10pt; font-family:Times New Roman"><B>World Headquarters</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:7.20em; font-size:10pt; font-family:Times New Roman"><B>1600 Technology Way</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:7.20em; font-size:10pt; font-family:Times New Roman"><B>P.O. Box 231</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:7.20em; font-size:10pt; font-family:Times New Roman"><B>Latrobe, Pennsylvania</B></P></TD>
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<TD VALIGN="bottom"> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>15650-0231</B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center">(Address of Principal Executive Offices)</TD>
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<TD VALIGN="top" ALIGN="center">(Zip Code)</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Registrant&#146;s telephone number, including area code: (724)&nbsp;539-5000 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Former Name or Former Address, if Changed Since Last Report) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the fling obligation of the registrant under any of the following
provisions (see General Instruction A.2. below): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:4.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On August&nbsp;27, 2015, Kennametal Inc. (&#147;Kennametal&#148; or the &#147;Company&#148;)
announced the appointment of Jan Kees van Gaalen to serve as Vice President and Chief Financial Officer of the Company effective September&nbsp;1, 2015. Mr.&nbsp;van Gaalen will report to President and Chief Executive Officer, Donald A. Nolan.
Mr.&nbsp;van Gaalen will succeed Martha A. Fusco, who served as the Company&#146;s interim Chief Financial Officer since February 2015. Ms.&nbsp;Fusco will remain in the role of Vice President Finance and Corporate Controller. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;van Gaalen, age 58, joins Kennametal from Dresser-Rand Group Inc., a public company, and a global supplier of custom-engineered rotating equipment
for applications in the oil, gas, process, power, and other industries worldwide, where he served as Executive Vice President and Chief Financial Officer since April 2013. Before joining Dresser-Rand, he served as Vice President and Treasurer of
Baker Hughes Inc. from 2008 to 2013. Prior to this, he was the Chief Financial Officer and Vice President Finance for PT Vale Inco TBK (formerly PT Inco TBK), the publicly traded Indonesian subsidiary of Vale Inco Ltd., based in Jakarta, Indonesia,
from 2004 to 2008. Mr.&nbsp;van Gaalen previously held a variety of finance positions with Anglo American plc, Carlton Communications plc and Schlumberger Ltd. in France, the United Kingdom, Venezuela, Brazil and South Africa. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with his appointment as Vice President and Chief Financial Officer, Mr.&nbsp;van Gaalen will be entitled to the following: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Annual base salary of $540,000. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">A special long-term incentive grant on September&nbsp;1, 2015 to be made under Kennametal&#146;s Stock and Incentive Plan of 2010 (as amended and restated on October&nbsp;22, 2013 and as further amended January&nbsp;27,
2015) (the &#147;LTIP Plan&#148;) with a total value of $200,000, consisting of 100% restricted stock units, which will vest in equal parts over a 3 year period, with one-third vesting on September&nbsp;1 of each of 2016, 2017, and 2018.
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">On September&nbsp;1, 2015, an additional long-term incentive grant with a total value of $1,055,000 under the Company&#146;s LTIP Plan, which will consist 50% of Performance Stock Units (PSU&#146;s), 30% of Stock
Options and 20% of Restricted Stock Units (RSU&#146;s). RSU&#146;s and Stock Options vest over a three-year period, with one-third vesting on each anniversary date of the grant. PSU&#146;s cliff vest after 3 years and are subject to achievement of
company performance goals in each of the 3 fiscal years in the term. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Participation in the Company&#146;s Prime Bonus Plan with a target bonus of 80% of annual base salary. Achievement of 2016 Prime Bonus to be measured in two parts: (1)&nbsp;80% of the target bonus opportunity will be
based on achievement of Company&#146;s financial performance goals for 2016 and (2)&nbsp;20% of target bonus opportunity will be based on achievement of specified individual performance goals set and approved by the compensation committee
conditioned upon achievement of the threshold EPS goal. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Relocation assistance under the Company&#146;s relocation policy. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Participation in all general employee benefit plans and programs as well as participation in the Company&#146;s Executive Retirement Program. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with his employment, Mr.&nbsp;van Gaalen will be entering into an employment agreement with Kennametal, effective as of September&nbsp;1, 2015
under the Company&#146;s current standard form of Employment Agreement for executives (&#147;Employment Agreement&#148;) and the Company&#146;s standard Indemnification Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Employment Agreement generally requires our executives to devote their entire time and attention to the business of the Company while they are employed by
the Company. The agreement does not specify any term, nor does it specify the executive officer&#146;s base salary, size of bonus award, if any, or any other compensation for services (all of which are determined and periodically reviewed by our
Compensation Committee). </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the terms of the Employment Agreement, each executive officer must assign to the Company all
inventions conceived or made during his employment with the Company. The Employment Agreement also includes certain restrictive covenants (including a covenant which generally prohibits the executive from working for any competitor of the Company
for a period following their separation from employment and disclosure of confidential or proprietary information concerning the Company). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Employment
Agreement may be terminated by either party at any time, for any reason or no reason at all; provided, that the Company may only terminate an executive officer&#146;s employment with the approval and authorization of our Board. If, with Board
authorization, the Company terminates an executive officer&#146;s employment prior to a &#147;change in control&#148; (as defined in the Employment Agreement&#148;) and not for &#147;cause&#148; (as defined in the Employment Agreement), the
executive will be entitled to 12&nbsp;months&#146; severance in the form of salary continuation. Executive officers are not entitled to severance under any other termination scenario outside of a change in control context. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the terms of the Employment Agreement, if an executive&#146;s employment is terminated upon a change of control or within three years after a
change in control, either by the Company other than for cause or by the executive for &#147;good reason&#148; (as defined in the Employment Agreement), the executive will be entitled to severance pay (calculated in accordance with a formula set
forth in the Employment Agreement) and continued medical, dental, disability and group insurance benefits. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Employment Agreement also includes a
&#147;best-net&#148; severance provision, whereby severance is capped to prevent the imposition of the excise tax on severance payments imposed by the Internal Revenue Code unless the executive would be in a better economic position by receiving the
full severance such person is entitled to under the Employment Agreement and paying all taxes including the excise tax. No tax gross-up by the Company of any severance payment is provided by the Employment Agreement. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01 &nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Exhibits. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Executive Officer Agreement as of May&nbsp;2011 (Exhibit 10.1 of Form 10-Q filed May&nbsp;13, 2011 is incorporated herein by reference)</TD></TR>
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<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Indemnification Agreement for Named Executive Officers (Exhibit&nbsp;10.2 of the Form&nbsp;8- K filed March&nbsp;22, 2005 is incorporated herein by reference)</TD></TR>
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<TD VALIGN="top" NOWRAP>99.1</TD>
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<TD VALIGN="top">Press Release dated August&nbsp;27, 2015</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">Date: August&nbsp;27, 2015</TD>
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<TD VALIGN="top" COLSPAN="3">Kennametal&nbsp;Inc.</TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Kevin G. Nowe</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top">Kevin G. Nowe</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
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<TD VALIGN="bottom">Vice President, Secretary and General Counsel</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>FOR IMMEDIATE RELEASE: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">DATE: August&nbsp;27, 2015 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Media Relations </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">CONTACT: Christina Sutter </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">PHONE: 724-539-5708 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Investor Relations </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">CONTACT: Quynh McGuire </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">PHONE: 724-539-6559 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B><U>Kennametal Board Names Jan Kees van Gaalen Chief Financial Officer </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">LATROBE, Pa., August&nbsp;27, 2015 - Kennametal Inc. (NYSE: KMT) announced today that its Board of Directors has elected Jan Kees van Gaalen to the position of vice
president and chief financial officer effective September&nbsp;1, 2015. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">In this role, he will lead the company&#146;s finance function including treasury,
accounting, tax and investor relations. Jan Kees van Gaalen replaces Martha Fusco who has served as interim chief financial officer since February 2015. Ms.&nbsp;Fusco will continue in her role as vice president and corporate controller. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">&#147;We are confident that Jan Kees van Gaalen&#146;s diverse, global background and record of performance leading industrial business transformation is a perfect fit
for Kennametal as we strengthen the company to win in the marketplace,&#148; said President and CEO Don Nolan. &#147;We expect his leadership to make a significant impact as we continue to shape portfolio, align cost structure and drive improved
performance.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Jan Kees van Gaalen has more than 30 years of global experience in business analytics, treasury, audit, business development and commercial
management. Prior to joining Kennametal, he was executive vice president and chief financial officer at Dresser-Rand Group Inc. Previously, he held several financial leadership positions including vice president and treasurer for Baker Hughes, Inc.
and vice president finance and chief financial officer for PT Vale Inco TBK (formerly PT Inco TBK), in Jakarta, Indonesia. </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;


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 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


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 </P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">&#147;I am honored to join the Kennametal team and be part of
a company with a strong foundation that continues to invent the future of its industry,&#148; said Jan Kees van Gaalen. &#147;It is an exciting time to be part of the company&#146;s transformation and I look forward to positively contributing to
change.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><I>At the forefront of advanced materials innovation for more than 75 years, Kennametal Inc. is a global industrial technology leader delivering
productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and
efficiency. Every day nearly 13,000 employees are helping customers in more than 60 countries stay competitive. Kennametal generated more than $2.6 billion in revenues in fiscal 2015. Learn more at www.kennametal.com </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center">### </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;


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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
