Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain
Officers.
Kennametal Inc. (the "Company" or "Kennametal") filed a Current Report on Form
8-K on August 28, 2020 regarding Mr. Peter A. Dragich leaving the Company. In
connection with this departure, the Company entered into a Separation Agreement
with Mr. Dragich, which contains a general release of claims and provides that
Mr. Dragich will receive the benefits to which he is contractually entitled
under his employment agreement with the Company. Additionally, in exchange for
a non-compete and non-solicitation agreement and confirmation of confidentiality
obligations, Mr. Dragich will receive the continuation of vesting of his
otherwise unvested restricted stock units and performance stock units in
accordance with the terms and conditions of the applicable restricted stock unit
and performance stock unit grant agreements between Mr. Dragich and the Company.
The foregoing description of the terms and conditions of the Separation
Agreement with Mr. Dragich is subject to the entire agreement, which is attached
as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
10.1 Separation Agreement for Peter A. Dragich *
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
*Filed Herewith.
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Signatures
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.
KENNAMETAL INC.
Date: September 16, 2020 By: /s/ Michelle R. Keating
Michelle R. Keating
Vice President, Secretary and General Counsel
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