Notice of Termination of Executive Retention Agreement between Kadant Inc. and Thomas M. O’Brien

Summary

Kadant Inc. notifies Thomas M. O’Brien that his Amended and Restated Executive Retention Agreement, originally dated December 8, 2008, will not be extended and will expire on December 31, 2014. After this date, the agreement and its terms will no longer apply to Mr. O’Brien. This letter serves as formal notice of the agreement’s termination in accordance with its provisions.

EX-10.2 4 kaiform10q3q2014exhibit102.htm KAI FORM 10-Q 3Q 2014 EXHIBIT 10.2 KAI FORM 10Q 3Q 2014 EXHIBIT 10.2

Exhibit 10.2

[ON KADANT LETTERHEAD]

September 15, 2014

Mr. Thomas M. O’Brien

9A Clover Hill Dr.

Chelmsford, MA 01824

Re: Notice of Termination of Executive Retention Agreement

Dear Mr. O’Brien:

Reference is hereby made to the Amended and Restated Executive Retention Agreement dated as of December 8, 2008 by and between you, as the Executive, and Kadant Inc., as the Company (the “Executive Retention Agreement”). Capitalized terms used but not defined in this Notice shall have the meanings ascribed thereto in the Executive Retention Agreement.

Pursuant to Section 2 of the Executive Retention Agreement, the Company hereby provides notice that the Term of the Executive Retention Agreement will not be extended and shall expire on December 31, 2014. As a consequence, the Executive Retention Agreement will cease to be applicable to you as of the close of business on December 31, 2014.

Sincerely,

/s/Jonathan W. Painter

Jonathan W. Painter

President and Chief Executive Officer