<SEC-DOCUMENT>0000891092-18-006336.txt : 20180904
<SEC-HEADER>0000891092-18-006336.hdr.sgml : 20180904
<ACCEPTANCE-DATETIME>20180904154959
ACCESSION NUMBER:		0000891092-18-006336
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180904
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20180904
DATE AS OF CHANGE:		20180904

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALBANY INTERNATIONAL CORP /DE/
		CENTRAL INDEX KEY:			0000819793
		STANDARD INDUSTRIAL CLASSIFICATION:	BROADWOVEN FABRIC MILS, MAN MADE FIBER & SILK [2221]
		IRS NUMBER:				140462060
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10026
		FILM NUMBER:		181052348

	BUSINESS ADDRESS:	
		STREET 1:		216 AIRPORT DRIVE
		CITY:			ROCHESTER
		STATE:			NH
		ZIP:			03867
		BUSINESS PHONE:		5184452200

	MAIL ADDRESS:	
		STREET 1:		216 AIRPORT DRIVE
		CITY:			ROCHESTER
		STATE:			NH
		ZIP:			03867

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALBINT INC
		DATE OF NAME CHANGE:	19870924
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e2040_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<HEAD>
<TITLE></TITLE>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>UNITED
STATES </B></FONT><B><BR>
<FONT STYLE="font-size: 10pt">SECURITIES AND EXCHANGE COMMISSION</FONT><BR>
<FONT STYLE="font-size: 10pt">Washington, D.C. 20549</FONT><BR>
<BR>
<FONT STYLE="font-size: 13pt">FORM 8-K</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">CURRENT REPORT </FONT><BR>
<FONT STYLE="font-size: 10pt">Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934</FONT><BR>
<BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">Date of Report (Date of earliest event reported): &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;September
4, 2018</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 14pt Times New Roman, Times, Serif"><B>ALBANY INTERNATIONAL CORP.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Exact name of registrant as specified in its charter)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 11.25pt 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 36%; border-bottom: black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>1-10026</B></FONT></TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>14-0462060</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center">(State or other jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center">of incorporation)</P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center">(Commission</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center">File Number)</P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center">(I.R.S Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 65%; border-bottom: black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>216 Airport Drive Rochester, New Hampshire</B></FONT></TD>
    <TD STYLE="width: 35%; border-bottom: black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>03867</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">Registrant&rsquo;s telephone number, including area code
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603-330-5850</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">None</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Former name or former address, if changed since last report.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 11.25pt 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Cambria Math,serif; margin: 11.25pt 0 0 14">&#8414; Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Cambria Math,serif; margin: 11.25pt 0 0 14">&#8414; Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Cambria Math,serif; margin: 11.25pt 0 0 14">&#8414; Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Cambria Math,serif; margin: 11.25pt 0 0 14">&#8414; Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Cambria Math,serif; margin: 11.25pt 0 0 14">&nbsp;Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities &nbsp;Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act
of 1934 (240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Cambria Math,serif; margin: 11.25pt 0 0 14">&#8414; Emerging growth company</P>

<P STYLE="font: 10pt Cambria Math,serif; margin: 11.25pt 0 0 14">&#8414; If an emerging growth company, indicate by check mark if
the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><B>Item 5.02 Compensatory Arrangements of Certain Officers</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 11.25pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt">On August 28, 2018, the Compensation Committee of the Registrant&rsquo;s
Board of Directors granted a Restricted Stock Units award under the Registrant&rsquo;s 2003 Amended and Restated Restricted Stock
Unit Plan to the Registrant&rsquo;s President &ndash; Global MC, Mr. Daniel Halftermeyer, a named executive officer as defined
by S-K Item 402(a)(3). A copy of the Form of Restricted Unit Award Agreement used for such award is being filed with this report
as Exhibit 10(l) (xi), and is incorporated by reference herein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The award consists of a grant of 12,853
restricted stock units (RSUs). Upon vesting, each RSU is paid in full in cash, in an amount equal to the average closing price
of one share of the Company&rsquo;s Class A Common Stock during a specified period preceding the vesting/payment date. No shares
of Class A Common Stock are issued or issuable under the RSU Plan. There is no exercise price. In lieu of cash dividends, a holder
of RSUs is credited with additional RSUs equal to the number of shares of Class A Common Stock having the same value on the dividend
payment date as the aggregate dividends that would be payable on shares of Class A Common Stock equal in number to the RSUs held
by such holder. This RSU awards vests (and is immediately paid in cash) as to one-third of the awarded units on each of the vesting
dates, but only if the holder is then employed by the Company or a subsidiary, or upon termination following a change of control
as defined in the award agreement. In the event of termination of employment, all unvested RSUs terminate without payment, except
that, in the case of death, disability, or involuntary termination, one-half of all unvested RSUs automatically vest and are paid
at termination. Moreover, in the event of a voluntary termination of employment prior to the final vesting date, the named executive
officer is obligated to repay the registrant fifty percent (50%) of all amounts paid pursuant to the award agreement prior to the
date of such voluntary termination. The vesting dates are as follows: September 1, 2019, September 1, 2020 and September 1, 2021.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><B>Signature</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 11.25pt 31.5pt 0 0">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><B>ALBANY INTERNATIONAL CORP.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 50%; border-collapse: collapse; margin-left: 50%">
<TR>
    <TD COLSPAN="2">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0"><U>By: /s/ John
B. Cozzolino</U><BR>
<BR>
Name: &nbsp;&nbsp;&nbsp;John B. Cozzolino<BR>
Title: Chief Financial Officer and Treasurer</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Principal Financial Officer)</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75pt">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; padding-right: -0.45pt; padding-left: 0.75pt; width: 50%">&nbsp;</TD>
    <TD STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; padding-right: -0.45pt; padding-left: 0.75pt; width: 50%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; padding-right: -0.45pt; padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; padding-right: -0.45pt; text-indent: 111.3pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; padding-right: -0.45pt; text-align: left"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Date September 4, 2018</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; padding-right: -0.45pt; padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; padding-right: -0.45pt; padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; padding-right: -0.45pt; padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="font: 7.5pt Calibri, Helvetica, Sans-Serif; padding-right: -0.45pt; padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="font: 7.5pt Calibri, Helvetica, Sans-Serif; padding-right: -0.45pt; padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="font: 7.5pt Calibri, Helvetica, Sans-Serif; padding-right: -0.45pt; padding-left: 0.75pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 11.25pt 0 10pt; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0"><U>Exhibit No.</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Description</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 100%; padding-left: 12.9pt; font: 12pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">10(l)(xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form of Restricted Unit Award Agreement</FONT></TD></TR>
</TABLE>

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

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

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

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.L(XI)
<SEQUENCE>2
<FILENAME>e2040ex10lix.htm
<DESCRIPTION>FORM OF RESTRICTED UNIT AWARD AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>Exhibit 10(l)(xi)</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center">RESTRICTED UNIT AWARD AGREEMENT</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center">Pursuant to the</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center">ALBANY INTERNATIONAL CORP.</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center">2003 RESTRICTED STOCK UNIT PLAN</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center">* &nbsp;*&nbsp; *&nbsp; *&nbsp; *</P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 15pt; padding-bottom: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Participant:</FONT></TD>
    <TD NOWRAP STYLE="width: 0%; padding-bottom: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 90%; padding-bottom: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Daniel
 Halftermeyer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-bottom: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Award Date:</FONT></TD>
    <TD NOWRAP STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-bottom: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">August 28, 2018</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt">Number of Restricted Units Awarded: 12,853</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: center; text-indent: -0.5in">*&nbsp; *&nbsp; *&nbsp; *&nbsp; *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: justify; text-indent: 0.5in">THIS AWARD AGREEMENT,
dated as of the Award Date specified above, is entered into by and between Albany International Corp. (the &ldquo;<U>Company</U>&rdquo;),
and the Participant specified above, pursuant to the Amended and Restated Albany International Corp. 2003 Restricted Stock Unit
Plan, as in effect and as amended from time to time (the &ldquo;<U>Plan</U>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: justify; text-indent: 0.5in">WHEREAS, as
an incentive to encourage the Participant to remain in the employ of the Company and its subsidiaries by affording the Participant
a greater interest in the success of the Company and its subsidiaries, the Company desires to grant the Participant the Restricted
Units provided herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: justify; text-indent: 0.5in">WHEREAS, the
Participant desires to obtain such Restricted Units on the terms and conditions provided for herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: justify; text-indent: 0.5in">NOW, THEREFORE,
in consideration of the premises, the mutual covenants herein set forth and other good and valuable considerations receipt of which
is hereby acknowledged, the Company and the Participant agree as follows:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">1.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Incorporation by Reference; Plan Document Receipt</U>. Except as otherwise provided herein,
this Award Agreement is subject in all respects to the terms and provisions of the Plan (including, without limitation, any amendments
thereto adopted at any time and from time to time and which are expressly intended to apply to the grant of the Restricted Units
provided for herein), all of which terms and provisions are made a part of and incorporated in this Award Agreement as if they
were expressly set forth herein. Any capitalized term not defined in this Award Agreement shall have the same meaning as is ascribed
thereto in the Plan. The Participant hereby acknowledges receipt of a true copy of the Plan and that the Participant has read the
Plan carefully and fully understands its content. In the event of a conflict between the terms of this Award Agreement and the
terms of the Plan, the terms of the Plan shall control.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">2.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Award of Restricted Units; Credit to Restricted Unit Account</U>. Subject to the terms
hereof and the Plan, the Company hereby grants to the Participant, as of the Award Date specified above, the number of Restricted
Units specified above. The Company shall record such Restricted Units in the Participant&rsquo;s Restricted Unit Account.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">3.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Vesting</U>. As permitted in Section 5.1 of the Plan, and subject to paragraph 6 below,
the following Vesting Dates shall apply with respect to the Restricted Units (including any additional Restricted Units credited
as Cash Dividend Equivalents with respect to such Restricted Units) awarded hereunder and shall supersede any contrary provision
in Section 5.1:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0in"><FONT STYLE="font-size: 10pt">a.</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">One-third (33.3%) of such Restricted Units (including any additional Restricted Units credited
as Cash Dividend Equivalents with respect to such Restricted Units) shall vest on September 1, 2019.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0in"><FONT STYLE="font-size: 10pt">b.</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">One-third (33.3%) of such Restricted Units (including any additional Restricted Units credited
as Cash Dividend Equivalents with respect to such Restricted Units) shall vest on September 1, 2020; and </FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0in"><FONT STYLE="font-size: 10pt">c.</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The remaining one-third (33.3%) of such Restricted Units (including any additional Restricted
Units credited as Cash Dividend Equivalents with respect to such Restricted Units) shall vest on September 1, 2021, in each case,
subject to the Participant being employed with the Albany Group on such Vesting Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in; color: red">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">4.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Additional Special Vesting</U>. The special vesting provisions set forth in Section 5.2
of the Plan shall apply to the Restricted Units (including any additional Restricted Units credited as Cash Dividend Equivalents
with respect to such Restricted Units) awarded hereunder. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">5.
</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Settlement; Payment Delay</U>. Subject to Paragraph 6 below, the Restricted Units (including
any additional Restricted Units credited as Cash Dividend Equivalents with respect to such Restricted Units) credited to Participant&rsquo;s
Restricted Unit Account pursuant to this Award Agreement shall be settled in accordance with the provisions of the Plan, including
without limitation Section 6.1 of the Plan. Notwithstanding any provision to the contrary, if, pursuant to the provisions of Section
409A of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the &ldquo;Code&rdquo;), any
payment is required to be delayed as a result of the Participant being deemed to be a &ldquo;specified employee&rdquo; within the
meaning of that term under Section 409A(a)(2)(B) of the Code, then any such payments under the Plan shall not be made prior to
the earlier of (A) the expiration of the six month period measured from the date of the &ldquo;separation from service&rdquo; (as
such term is defined in Treasury Regulations issued under Section 409A of the Code) or (B) the date of the Participant&rsquo;s
death. Upon the expiration of such period, all payments under the Plan delayed pursuant to this paragraph 6 shall be paid to the
Participant in a lump sum, and any remaining payments due under the Plan shall be paid or provided in accordance with the normal
payment dates specified for them herein. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">6.
</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Repayment/Clawback</U>. It is the Company&rsquo;s intent, through the Restricted Unit grant
contemplated herein, to incentivize Participant to voluntarily remain in its employ at least through September 1, 2021. Nevertheless,
Participant has expressly requested that the Restricted Units granted herein vest ratably as set forth in Paragraph 3, above. Therefore,
Participant expressly agrees that should his employment with the Company terminate prior to September 1, 2021 for any reason other
than death or disability, he shall repay to the Company fifty percent (50%) of all the moneys paid to him pursuant to this Award
Agreement through the date of termination. The amount to be repaid, if any, shall be considered a debt owed by Participant to the
Company, and not repayment of wages. Furthermore, in the event Participant becomes obligated to make a payment to the Company in
accordance with this Paragraph 6, Participant agrees to remit such payment within 30 days of termination and, to the extent permitted
by law, authorizes the Company to withhold from his last payment of wages (or any other amounts that the Company may owe Participant)
any portion of the obligations owed by Participant pursuant to this Paragraph 6.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">7.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Amendment and Waiver</U>. Neither this Award Agreement nor any provision hereof may be
amended, modified, changed, discharged, terminated or waived orally, by any course of dealing or purported course of dealing or
by any other means except (a) in the case of an amendment, modification, change or waiver that does not impair the rights of the
Participant with respect to outstanding Restricted Units or that is deemed by the Committee to be advisable to avoid the imposition
of any tax under Section 409A of the Code, by written notice to the Participant or (b) an agreement in writing signed by the Company
and the Participant. No such written notice of agreement shall extend to or affect any provision of this Award Agreement not expressly
amended, modified, changed, discharged, terminated or waived or impair any right consequent on such a provision. The waiver of
or failure to enforce any breach of this Award Agreement shall not be deemed to be a waiver of or acquiescence in any other breach
hereof.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">8.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Notices</U>. Any notice required or permitted under this Award Agreement shall be in writing
and shall be deemed properly given:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: justify; text-indent: 0.5in">8.1 in the case
of notice to the Company, if delivered in person to the Secretary of the Company, or mailed to the Company to the attention of
the Secretary by registered mail (return receipt requested) at 216 Airport Drive, Rochester, New Hampshire, 03867, or at such other
address as the Company may from time to time hereafter designate by written notice to the Participant; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: justify; text-indent: 0.5in">8.2 in the case
of notice to the Participant, if delivered to him or her in person, or mailed to him or her by registered mail (return receipt
requested) at the last known residence address provided by Participant to the Company or at such other address as the Participant
may from time to time hereafter designate by written notice to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">9.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Governing Law</U>. This Award Agreement shall be governed by and construed in accordance
with the laws of the State of New York.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">10.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt"><U>Binding
Agreement; Assignment</U>. This Award Agreement shall inure to the benefit of, be binding upon, and be enforceable by the Company
and its successors and assigns. The Participant shall not assign any part of this Award Agreement without the prior express written
consent of the Company.</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">11.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt"><U>Counterparts</U>.
This Award Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which
shall constitute one and the same instrument.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">12.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt"><U>Headings</U>.
The titles and headings of the various sections of this Award Agreement have been inserted for convenience of reference only and
shall not be deemed to be a part of this Award Agreement.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">13.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt"><U>Further
Assurances</U>. Each party hereto shall do and perform (or shall cause to be done and performed) all such further acts and shall
execute and deliver all such other agreements, certificates, instruments and documents as any other party hereto reasonably may
request in order to carry out the intent and accomplish the purposes of this Award Agreement and the Plan and the consummation
of the transactions contemplated thereunder.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">14.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt"><U>Severability</U>.
The invalidity or unenforceability of any provisions of this Award Agreement in any jurisdiction shall not affect the validity,
legality or enforceability of the remainder of this Award Agreement in such jurisdiction or the validity, legality or enforceability
of any provision of this Award Agreement in any other jurisdiction, it being intended that all rights and obligations of the parties
hereunder shall be enforceable to the fullest extent permitted by law.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">15.
</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt"><U>Acceptance
of Restricted Units</U>. Unless, within 45 days following the date of this Award Agreement, the Company has received written notice
from the Participant rejecting the Restricted Units, this Award Agreement shall be deemed to have been accepted by the Participant
and shall constitute a legal and binding agreement between the Participant and the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the Company has duly executed this Award Agreement as of the Award Date specified above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt 50%; text-align: justify">ALBANY INTERNATIONAL
CORP.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0.5in 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt 50%; text-align: justify">___________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt 50%; text-align: justify">Name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt 50%; text-align: justify">Title:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt 50%; text-align: justify"><U>/s/Daniel
A. Halftermeyer </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt 50%; text-align: justify">&#9;Daniel A. Halftermeyer&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 10pt; text-align: justify"></P>

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