<SEC-DOCUMENT>0001193125-18-272336.txt : 20180913
<SEC-HEADER>0001193125-18-272336.hdr.sgml : 20180913
<ACCEPTANCE-DATETIME>20180913103334
ACCESSION NUMBER:		0001193125-18-272336
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20180907
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:		20180913
DATE AS OF CHANGE:		20180913

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:		181068209

	BUSINESS ADDRESS:	
		STREET 1:		600 GRANT STREET
		STREET 2:		SUITE 5100
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15219
		BUSINESS PHONE:		4122488000

	MAIL ADDRESS:	
		STREET 1:		600 GRANT STREET
		STREET 2:		SUITE 5100
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15219
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d623466d8k.htm
<DESCRIPTION>8-K
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<TITLE>8-K</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;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:18pt; 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:18pt; margin-bottom:0pt; font-size:20pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT STYLE="white-space:nowrap">8-K</FONT> </B></P>
<P STYLE="margin-top:12pt; 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):
<B>September</B><B></B><B>&nbsp;7, 2018</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:20pt; 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>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">1-5318</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">25-0900168</FONT></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>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">(Commission File Number)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">(IRS Employer Identification No.)</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;World
Headquarters</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 Grant
Street</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Suite 5100</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pittsburgh,
Pennsylvania</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>15219</B></TD></TR>
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<TD VALIGN="top">(Address of Principal Executive Offices)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">(Zip&nbsp;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: <B>(412)
<FONT STYLE="white-space:nowrap">248-8000</FONT></B> </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 <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing 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>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17
CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this
chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Emerging growth company&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#9744; </P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <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">Kennametal Inc. (the &#147;Company&#148; or &#147;Kennametal&#148;) filed a Current Report
on Form <FONT STYLE="white-space:nowrap">8-K</FONT> on June&nbsp;15, 2018 regarding the retirement of Mr.&nbsp;Jan Kees van Gaalen from the Company. In connection with this departure, the Company entered into a Separation Agreement with Mr.&nbsp;van
Gaalen, which contains a general release of claims and provides that Mr.&nbsp;van Gaalen will receive the benefits to which he is contractually entitled on a termination without cause.&nbsp;Additionally, in exchange for a <FONT
STYLE="white-space:nowrap">non-compete</FONT> and <FONT STYLE="white-space:nowrap">non-solicitation</FONT> agreement and confirmation of confidentiality obligations, Mr.&nbsp;van Gaalen will receive additional severance of $600,000 payable in a lump
sum payment following the <FONT STYLE="white-space:nowrap">six-month</FONT> anniversary of his separation from service. The foregoing description of the terms and conditions of the Separation Agreement with Mr.&nbsp;van Gaalen is subject to the
entire agreement, which is attached as Exhibit 10.1 and is incorporated herein by reference. </P> <P STYLE="margin-top:48pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01&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)&nbsp;&nbsp; Exhibits. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>10.1</TD>
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<TD VALIGN="top"><A HREF="d623466dex101.htm">Separation Agreement for Jan Kees van Gaalen </A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">Filed&nbsp;Herewith.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
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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: September&nbsp;13, 2018</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">Kennametal Inc.</TD></TR>
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<TD VALIGN="top">By:&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Michelle R. Keating</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">Michelle R. Keating</TD></TR>
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<TD VALIGN="top"></TD>
<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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<TYPE>EX-10.1
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<DESCRIPTION>EX-10.1
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g623466001.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SEPARATION AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">August&nbsp;14, 2018 </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Jan Kees van Gaalen </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Dear Jan Kees: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">This letter agreement
(&#147;Separation Agreement&#148;) is provided to confirm the terms of your separation from employment with Kennametal Inc. (&#147;Company&#148;). The Company advises you to consult with an attorney regarding this Separation Agreement, which
includes the Company&#146;s consideration it shall pay you in exchange for a release of claims, as per Section&nbsp;4(a) and Section&nbsp;15 of your Officer&#146;s Employment Agreement effective September&nbsp;1, 2015 (&#147;Officer&#146;s
Employment Agreement&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination of Officer Status and Employment with the Company</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:10%; font-size:12pt; font-family:Times New Roman">Your status as Vice President and Chief Financial Officer and employment with the Company will terminate without cause effective
September&nbsp;7, 2018 (&#147;Termination Date&#148;). On the Termination Date, you will cease to perform any duties or responsibilities of your former position as Vice President and Chief Financial Officer. As such, you are not authorized to make
any commitments on behalf of the Company or otherwise bind or obligate the Company, nor are you authorized to represent to others (directly or by implication) that you have any such authority. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:10%; font-size:12pt; font-family:Times New Roman">Your Officer&#146;s Employment Agreement will terminate on the Termination Date concurrent with your employment, except for your continued
obligations under the terms of paragraph 9 concerning confidential information and <FONT STYLE="white-space:nowrap">non-disclosure</FONT> (which are reincorporated herein as if set forth in full). You acknowledge and agree that no &#147;Change of
Control&#148; as defined under the Officer&#146;s Employment Agreement has occurred. Your designation as an &#147;executive officer&#148; of the Company for purposes of the Securities Exchange Act of 1934, as amended, shall also cease on your
Termination Date or such earlier date as determined by the Kennametal Board of Directors, but the Company&#146;s Insider Trading Policy, as well as all other applicable Company policies and procedures, will continue to apply to you in accordance
with their terms. </P>
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<IMG SRC="g623466002.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">Notwithstanding your termination of employment and officer status, the Company acknowledges
and agrees that the obligations set forth under the Indemnification Agreement dated September&nbsp;1, 2015 between you and the Company remain in full force and effect according to the terms of that agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation and Benefits</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">In accordance with the terms and conditions of your employment with the Company, the following sets forth the compensation and benefits you
are entitled to and will receive. You are not entitled to any compensation or benefits not otherwise set forth in this Section&nbsp;2. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Base Salary: </I>You will continue to receive your current base salary, subject to
current deductions, withholdings and current benefit elections, through your Termination Date, in accordance with the Company&#146;s established payroll practices. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Paid Time Off Payout: </I>After your employment with the Company terminates, you will be
paid for any earned and unused Paid Time Off (&#147;PTO&#148;), through<B> </B>your Termination Date, subject to normal withholdings. This represents full payment of all of your PTO as of the termination of your employment. You will not earn any PTO
or pay after your Termination Date, and you will not receive any further payment for earned and unused PTO. In the event you have used more PTO than you have earned up to your Termination Date, you authorize the Company to withhold from the
separation benefit payments, which are to be paid in accordance with Section&nbsp;3, an amount equal to the unearned PTO taken. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Active Benefits:</I> Subject to your current elections, you will continue to receive
active coverage for medical, dental, and vision benefits through the last day of the month in which your employment terminates. Coverage for life, AD&amp;D, and disability will end effective on your Termination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>COBRA Benefits:</I> After your healthcare coverage as an active employee ends, you and
your dependents have the right to continue your group health care coverage under the Consolidated Omnibus Budget Reconciliation Act (&#147;COBRA&#148;), by paying the applicable premium, for a period of time (usually 18 months). You will receive
information about this benefit continuation under separate cover from Business Solver, Kennametal&#146;s third party COBRA administrator. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Equity Awards:</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:12pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Stock Options</I>: You will have all rights to vested stock options previously granted
to you, subject to and in accordance with the terms and conditions of the applicable stock option award agreements between you and the Company, as well as other relevant plan provisions. Vesting of stock options will continue through your
Termination Date, to the extent provided by the terms of the applicable agreements. Your right to exercise vested stock options, following your Termination Date, shall be in accordance with the applicable stock plan(s) and
</P>
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any applicable stock option agreements. Stock Options not vested on your Termination Date will be forfeited. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:12pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Restricted Stock Units</I>: You will have all rights to restricted stock units
previously granted to you subject to and in accordance with the terms and conditions of the applicable restricted stock unit agreements between you and the Company, as well as other relevant stock plan provisions. Restricted stock units not vested
on your Termination Date will be forfeited. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:12pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Performance Stock Units</I>: As your
performance stock units will not be vested on your Termination Date, they will be forfeited. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">(f)<I>
</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Thrift Plus Plan:</I> As a vested participant in the Thrift Plus Plan (TPP), you will have all rights subject to the terms and conditions of the TPP Plan document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">(g) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Executive Retirement Plan:</I> You are not entitled to Executive Retirement Plan
(&#147;ERP&#148;) benefits as you are not vested under the terms and conditions of the ERP Plan document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Officer Benefits</I>: Your eligibility for the continuation of the following officer
benefits is as set forth below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:12pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Annual Incentive Plan Eligibility:</I> Your are
not eligible for the Annual Incentive Plan for Fiscal Year 2019. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:12pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Long Term
Incentive Program:</I> You are not eligible to receive any future grants through the Long Term Incentive Program (&#147;LTIP&#148;), subsequent to September&nbsp;7, 2018. Your rights related to prior grants issued to you under the LTIP are subject
to the terms and conditions of the applicable agreements between you and the Company, as well as other relevant plan provisions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Separation Benefits</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">Consistent with the terms of your Officers Employment Agreement, the Company asks that you sign this Separation Agreement to obtain the
compensation described in this Section&nbsp;3 and to effectuate the release of claims set forth in Section&nbsp;4. In exchange for your execution of this release, and upon your signing this Separation Agreement (without revoking it, as provided
herein) and it becoming effective, the Company will provide you: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">(a) <I>Severance: </I>For the twelve (12)&nbsp;month period beginning on
September&nbsp;7, 2018 and ending on September&nbsp;6, 2019, you will receive severance pay in the form of salary continuation payments, at the rate of your current base salary ($556,200 per year), in substantially equal installments (at least
monthly) in accordance with the Company&#146;s established payroll practices, subject to required and authorized withholdings and deductions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">(b) <I>Additional Severance</I>: The Company will pay to you a lump sum cash payment equal to
$600,000, which represents 50% of your ERP vested amount on the vesting date of December&nbsp;2, 2018. This amount will be paid as a total lump sum payment six (6)&nbsp;months following the Termination Date, subject to required and authorized
withholdings and deductions in accordance with IRC 409A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">The following disclosure pertains to Section&nbsp;409A of the Internal Revenue
Code of 1986, as amended (the &#147;Code&#148;), and how it may affect payments of deferred compensation under this Separation Agreement. The Code governs the taxation of deferred compensation, and contains provisions that accelerate income
recognition and impose interest and additional taxes on payments and awards subject to Code Section&nbsp;409A that fail to conform or are modified inconsistent with the requirements of Code Section&nbsp;409A. You should review the content of this
Agreement, specifically this paragraph 3, with your attorney and/or tax advisor for Section&nbsp;409A compliance. You are solely liable for all tax, interest and penalties that might be imposed under Section&nbsp;409A. The Company agrees to discuss
modifying the terms of this paragraph 3 at your request, if necessary, to comply with the requirements of Section&nbsp;409A and the regulations promulgated thereunder.<B> </B>Such request must be made within 21 days from the date of this letter. For
purposes of this Agreement, each payment is intended to be excepted from Section&nbsp;409A to the maximum extent provided under Section&nbsp;409A as follows: each severance payment, including each individual installment payment, shall be treated as
a separate payment. Each payment under this Agreement is intended to be excepted from Section&nbsp;409A to the maximum extent provided under Section&nbsp;409A as follows: (i)&nbsp;each payment made within the applicable 2<SUP
STYLE="vertical-align:top">&nbsp;1</SUP>&#8260;<SUB STYLE="vertical-align:bottom">2</SUB> month period specified in Treas. Reg. &#167; <FONT STYLE="white-space:nowrap">1.409A-1(b)(4)</FONT> is intended to be excepted under the short-term deferral
exception as specified in Treas. Reg. &#167; <FONT STYLE="white-space:nowrap">1.409A-1(b)(4);</FONT> (ii) post-termination medical benefits are intended to be excepted under the medical benefits exceptions as specified in Treas. Reg. <FONT
STYLE="white-space:nowrap">&#167;&nbsp;1.409A-1(b)(9)(v)(B);</FONT> and (iii)&nbsp;to the extent payments are made as a result of an involuntary separation, each payment that is not otherwise excepted under the short-term deferral exception or
medical benefits exception is intended to be excepted under the involuntary pay exception as specified in Treas. Reg. &#167; <FONT STYLE="white-space:nowrap">1.409A-1(b)(9)(iii).</FONT> You shall have no right to designate the date of any payment
hereunder. With respect to payments subject to Section&nbsp;409A of the Code (and not excepted therefrom), if any, it is intended that each payment is paid on permissible distribution event and at a specified time consistent with Section&nbsp;409A
of the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Your Release of Claims</U>.<U> </U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">By signing this Separation Agreement and accepting the compensation set forth in Section&nbsp;3, you, on behalf of yourself, your heirs,
executors, administrators, successors and assigns, waive, release and forever discharge the Company and all current and former subsidiaries, divisions, related or affiliated companies, and all of their officers, directors, employees, agents,
successors, predecessors and assigns, including but not limited to all management and supervisory employees (severally and collectively &#147;Releasees&#148;), jointly and individually, from all claims, complaints, demands, causes of action,
obligations, liabilities and damages of every nature and description, known or unknown, foreseen or unforeseen, in law or equity, at common law or under any statute, rule, regulation, order or law, whether federal, state or local, on any grounds
whatsoever arising before your signing this Separation Agreement, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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including but not limited to any claim relating to or arising out of your employment by the Company or the Company&#146;s involuntary termination of your employment, any claim under the WARN Act,
any claim under the Age Discrimination in Employment Act of 1967, as amended, any claim of discrimination on any basis under any federal, state or local law, any claim of breach of any express or implied contract, any claim for promissory estoppel
or detrimental reliance, and any claim for wrongful or constructive discharge. If any administrative agency or court assumes jurisdiction of any charge, complaint, proceeding or action covered by Section&nbsp;4 of this Separation Agreement against
any of the Releasees, you agree not to accept, recover or receive any monetary damages or other relief from or in connection with such charge, complaint, proceeding or action. You agree that if a court of competent jurisdiction determines that you
are to be awarded damages under WARN, those damages will be offset by the total compensation paid to you under Section&nbsp;3(a) and 3(b) of this Separation Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman"><B>The Company advises you to consult with your own attorney before agreeing to the release of claims set forth in this section. As set forth
below in Section&nbsp;12, you have <FONT STYLE="white-space:nowrap">twenty-one</FONT> (21)&nbsp;days from the date of your receipt of this letter to review this Separation Agreement and the release it contains. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">Nothing in this section impairs your right to vested Company benefits to which you are entitled as of the date you sign this Separation
Agreement. Nothing in this section impairs any right you hold that cannot be waived or released as a matter of law. By way of example, nothing in this section impairs your right to file a charge or complaint with any appropriate federal, state, or
local agency, such as the United States Equal Employment Opportunity Commission, or to participate in or cooperate with any such charge or complaint procedure. After signing this Separation Agreement, you retain the right to challenge the validity
of the Separation Agreement. If you have any questions about other rights you may hold that cannot be waived or released as a matter of law, the Company advises you to consult with your own attorney on that subject. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Your Representations</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">By signing this Separation Agreement and accepting the compensation set forth in Section&nbsp;3, you represent and affirm that you have
neither filed nor caused or permitted to be filed on your behalf any claim, charge, proceeding or action against any of the Releasees in any court or administrative agency for your benefit. Further, you represent and affirm that you are aware of no
facts that would support the filing of any such claim, charge, proceeding or action. Further, you represent and affirm that, as of the date you signed this Separation Agreement, you were aware of no facts indicating that the Company, or any person
or entity acting on its behalf, engaged in illegal or unethical conduct of any sort, and that you have not engaged in any such conduct. If you are unable to make these representations, you must contact the Company before signing this Separation
Agreement. All of the representations contained in this Section&nbsp;5 are material to the Company&#146;s decision to offer the compensation set forth in Section&nbsp;3, and the Company is acting in reliance on your representations when offering and
providing these benefits. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">6.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT STYLE="white-space:nowrap">Non-Admission</FONT></U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">The act of offering this
Separation Agreement is not an admission of any liability whatsoever by the Company or any of the Releasees. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT STYLE="white-space:nowrap">Non-Compete,</FONT>
<FONT STYLE="white-space:nowrap">Non-Solicitation,</FONT> Confidential Information and <FONT STYLE="white-space:nowrap">Non-Disclosure;</FONT> Return of Company Property</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">(a) <I><FONT STYLE="white-space:nowrap">Non-Compete,</FONT> <FONT STYLE="white-space:nowrap">Non-Solicitation,</FONT> Confidential Information
and <FONT STYLE="white-space:nowrap">Non-Disclosure:</FONT></I> You agree to comply with any obligations you may have, contractual or otherwise to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:7%; font-size:12pt; font-family:Times New Roman">(i) refrain from competing against the Company for a period of two (2)&nbsp;years from the Termination Date. The competitors shall include,
without limitation, those listed on Appendix A attached hereto and incorporated herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:7%; font-size:12pt; font-family:Times New Roman">(ii) refrain from soliciting any employee of the
Company for hire for a period of two (2)&nbsp;years from the Termination Date; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:7%; font-size:12pt; font-family:Times New Roman">(iii) refrain from disclosing and otherwise protect any
confidential information about or belonging to the Company including, but not limited to, those obligations set forth in your Officer&#146;s Employment Agreement, and to honor any other applicable post-employment restrictions you may have agreed to
as a Company employee, which obligations are not superseded by this Separation Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">(b) <I>Return of Company Property</I>: You
agree that you have returned, or will return within one (1)&nbsp;day of your Termination Date, as provided in Section&nbsp;1 above, all Company property and information, including but not limited to the following: all keys and/or access cards to the
Company&#146;s facilities/offices, all equipment, documents, customer lists, written information, forms, plans, documents or other written or computer material or data, software or firmware, records, or copies of the same, belonging to the Company
or any company affiliated with the Company, in your possession or control. You agree that you are not entitled to receive or retain the compensation set forth in Section&nbsp;3 of this Separation Agreement until you return all information and
property to the Company in compliance with this Separation Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">8.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidentiality Regarding Terms of This Separation Agreement</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">You agree that the
terms and conditions of this Separation Agreement, and the actions of the parties in accordance therewith, are confidential, and that you have not disclosed and will not disclose such information to anyone, other than your attorney, accountant, tax
advisor, immediate family or as required by law or for purposes of enforcing this Separation Agreement. To the extent you disclose such information to any of the aforementioned persons, you will advise them that they must not disclose that
information and are bound by this confidentiality provision. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">9. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Company-Issued Credit
Card Obligations</U>. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">You agree that you will issue payment to the approved Kennametal credit provider (for
example: JP Morgan Chase) for any outstanding balance on my Company-issued credit card within thirty (30)&nbsp;days of your Termination Date. If you do not issue payment to the approved credit provider within that period of time, you authorize the
Company to withhold from the separation benefit payments, which are to be paid in accordance with Section&nbsp;3 above, an amount equal to the unpaid balance that remains due to the approved credit provider. Any business expenses that are subject to
reimbursement by the Company, which are incurred through your Termination Date, may be processed for reimbursement either prior to your Termination Date through normal expense reimbursement processes or, after your termination date, by promptly
forwarding a request for reimbursement directly to your supervisor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">10. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT
STYLE="white-space:nowrap">Non-Disparagement</FONT></U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">You agree that you will not communicate to third parties disparaging remarks,
untrue statements, or negative opinions about the Company, its subsidiaries and affiliated companies, or any of their employees, officers or directors. You agree that you are not entitled to receive or retain the compensation set forth in
Section&nbsp;3 of this Separation Agreement if you breach this <FONT STYLE="white-space:nowrap">non-disparagement</FONT> obligation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">11.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Complete Agreement/Ongoing Contractual Obligations</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">When executed, this Separation
Agreement is the complete understanding concerning the Company&#146;s involuntary termination of your employment and supersedes any and all prior agreements or understandings concerning that subject, except as otherwise provided in this Separation
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">12. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">This Separation Agreement will be governed by Pennsylvania law without regard to its conflict of laws provision, except to the extent federal
law applies. If any provision of this Separation Agreement, except the Release in Section&nbsp;4, is declared illegal or unenforceable by a court of competent jurisdiction and cannot be modified to be enforceable, such provision shall immediately
become null and void, leaving the remainder of this Separation Agreement in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">13.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Acknowledgements</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">By executing this Separation Agreement, you acknowledge that:
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">(a) the Company hereby advises you (in writing) to review this Separation Agreement, including the release of claims in Section&nbsp;4,
with your own attorney before you sign the Separation Agreement, and that you are solely responsible for the fees and costs of such attorney; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">(b) you have <FONT STYLE="white-space:nowrap">twenty-one</FONT> (21)&nbsp;days from the date of your receipt of this letter to review and
accept this Separation Agreement and the release it contains, you acknowledge that, if you execute this Separation Agreement prior to the expiration of the <FONT STYLE="white-space:nowrap">twenty-one</FONT> (21)&nbsp;day period, you
</P>
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do so having fully and carefully considered the Separation Agreement and you agree that, to the extent this Separation Agreement was modified by the parties prior to its execution by you, such
modification does not restart or extend this <FONT STYLE="white-space:nowrap">twenty-one</FONT> (21)&nbsp;day period; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">(c) you have the
right to revoke and cancel this Separation Agreement for seven (7)&nbsp;days after you sign it, it shall not be effective until after passage of that seven (7)&nbsp;day period without your revoking it and you may revoke it within seven (7)&nbsp;days
after signing it by hand delivering, sending via overnight mail or mailing a written notice of revocation to Kennametal Inc., 600 Grant Street, Suite 5100, Pittsburgh, Pennsylvania 15219, Attn: Vice President and Chief Human Resources Officer; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">(d) you have read this Separation Agreement in its entirety and understand all of its terms, including the release in Section&nbsp;4; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">(e) the compensation described in Section&nbsp;3 is the only consideration for your signing this Separation Agreement, and no other provision
or inducement has been offered or made to induce you to sign this Separation Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">(f) you would not be entitled to receive the
compensation described in Section&nbsp;3 if you did not sign this Separation Agreement; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:12pt; font-family:Times New Roman">(g) you voluntarily and knowingly agree to
all the terms and conditions in this Separation Agreement. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="28%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="28%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Sincerely,</P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><U>/s/ Christopher Rossi</U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Christopher Rossi</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">President and Chief Executive Officer</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">Kennametal
Inc.</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Attachments </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">I hereby execute
this Separation Agreement, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">including the release in Section&nbsp;4, intending </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">to be legally bound, this 7<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> day of </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">September, 2018. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">By<U> /s/ Jan Kees van Gaalen</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Jan Kees van Gaalen </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

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