Notice of Termination of Executive Retention Agreement between Kadant Inc. and Sandra L. Lambert

Summary

Kadant Inc. has notified Sandra L. Lambert that her Amended and Restated Executive Retention Agreement, originally dated December 9, 2008, will not be extended and will expire on December 31, 2017. After this date, the agreement will no longer apply to her. This notice serves as formal communication of the agreement's termination in accordance with its terms.

EX-10.2 3 kaiform10q3q2017exhibit102.htm KAI FORM 10-Q 3Q 2017 EXHIBIT 10.2 Exhibit

Exhibit 10.2

September 20, 2017

Ms. Sandra L. Lambert

149 College Road

Concord, MA 01742

Re: Notice of Termination of Executive Retention Agreement

Dear Ms. Lambert:

Reference is hereby made to the Amended and Restated Executive Retention Agreement dated as of December 9, 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, 2017. As a consequence, the Executive Retention Agreement will cease to be applicable to you as of the close of business on December 31, 2017.

Sincerely,

/s/Jonathan W. Painter

Jonathan W. Painter

President and Chief Executive Officer