Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Board of Directors (the “Board”) appointed Mr.
principal accounting officer of the Company, with his term commencing effective
until a successor has been selected and qualified or until his earlier
separation or removal.
Cutting Division, at Kennametal, Inc., a publicly-traded corporation providing
metal cutting and wear-protection solutions to various industries, since
Inc., including as Director of Finance – Infrastructure division, from
and Manager of External Financial Reporting from 2002 to 2004. He was also
telecommunications company providing broadband, electricity, and smart grid
solutions, as controller from 2004 to 2007, and by
from 1995 to 2002 as a manager of audit engagements.
Public Accountant in the
Science in Business Administration with and emphasis in Accounting from
In connection with his employment with the Company,
annual base salary of
(at target) equal to 35% of his base salary, if earned.
eligible to participate in the Company’s Long Term Incentive Plan for 2022,
which award is equal to
stock vesting in 33 1/3% increments over three years (subject to his continued
employment with the Company), and 66% in performance share units which, if
earned, based upon the achievement of the applicable performance goals, would be
paid at the end of the three-year performance period. Effective as of the Start
which award shall vest in one-third increments on each of the first three
anniversary dates of the grant subject to his continued employment with the
Company. As an officer of the Company, he will be entitled to the benefit of the
Company’s directors’ and officers’ insurance, Company-paid long-term disability
and life insurance premiums, financial counseling, a Company car allowance,
participation in the Supplemental Executive Retirement Plan, and separation
payments under the Company Key Employee Separation Plan in the event of both a
change in control and qualifying termination of employment. He will also be
eligible to participate in other medical and benefit programs generally offered
to employees of the Company.
Intellectual Property, and Non-Compete Agreement which provides for restrictions
on competition for one year post-separation, and non-solicitation of customers
and employees for two years after termination of employment.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits See Exhibit Index below. Exhibit Index Exhibit Number Description *104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)
*Exhibits marked with an asterisk are filed herewith.
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