FORM OF EXECUTIVE OFFICER PERFORMANCE-BASED RESTRICTED STOCK
UNIT AWARD AGREEMENT
Effective [Date], you have been granted an award of [##] restricted stock units. These units are restricted until the vest date(s)
shown below, at which time you will receive shares of Kadant Inc. (the Company) common stock.
The current total value of the award is $[##].
The award will vest in increments on the date(s) shown.
By your signature and the Company’s signature below, you and the Company agree that this award is granted under and
governed by the terms and conditions of the Company’s Award Plan as amended and the Award Agreement, all of which are
attached and made a part of this document.
AWARD AGREEMENT FOR
PERFORMANCE-BASED RESTRICTED STOCK UNITS
The Company has established as the performance measure earnings before interest, taxes, depreciation and amortization
(EBITDA) generated by its continuing operations during the [year] fiscal year (beginning [date] and ending [date] (the
“Measurement Period”), equal to the amount set forth in Exhibit A to this Award Agreement and as such amount may be
adjusted as set forth in such Exhibit A (the “Target EBITDA”). Upon the conclusion of the Measurement Period, the
Company shall calculate and determine the actual EBITDA generated by its continuing operations during the
Measurement Period as set forth in Exhibit A (“Actual EDITDA”). The number of Award Shares deliverable to the
Recipient will be adjusted and determined by a continuous line graph based on the following data points, which graph is
included as Exhibit B:
Notice of Grant of Award
One Technology Park Drive
and Award Agreement
Westford, MA 01886
Award Number: [##]