Kennametal cuts top executives' salaries - Pittsburgh Business Times:

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The cuts are effective July 1, the start of the Latrobe-based specialty metals and tooling manufacturer's 2010 fiscao year. They exclude “one officeer whose position and responsibilities have been though that employee isnot named. A Kennametak (NYSE:KMT) spokeswoman was not immediately availableFriday morning. The lower salaries will remain until the board deemsd business conditions have improved enough to support a reinstatemenror increase, the company said. According to SEC documents, Cardoso’s base salary in 2008 was With other optionsand awards, his total compensatiohn was $4,648,995.
CFO Frank Simpkins’ base salary was The third highest-paid executive was Gary Weismann, vice president of Kennametal’ws advanced materials solutions group, whose 2008 base pay was $342,917. The boar also agreed on a 15 percentg reduction of its owncash compensation, which began at $34,5000 in 2008, according to SEC filings.