Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)        February 15, 2006

                           ALBANY INTERNATIONAL CORP.
             (Exact name of registrant as specified in its charter)

          Delaware                      0-16214                   14-0462060
(State or other jurisdiction          (Commission             (I.R.S. Employer
      of incorporation)               File Number)           Identification No.)

                    1373 Broadway, Albany, New York                      12204
                (Address of principal executive offices)              (Zip Code)

Registrant's telephone number, including area code (518) 445-2200

         (Former name or former address, if changed since last report.)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

|_|   Written  communications  pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR

|_|   Pre-commencement  communications  pursuant  to  Rule  14d-2(b)  under  the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement  communications  pursuant  to  Rule  13e-4(c)  under  the
      Exchange Act (17 CFR 240.13a-4(c))

Item 1.01 Entry into a Material Definitive Agreement

On February 15, 2006, the Compensation Committee of the Registrant's Board of
Directors approved the following cash bonuses for 2005 pursuant to the
Registrant's Annual Bonus Program for the Registrant's chief executive officer
and the four other most highly compensated executive officers during such year:

            Officer                                      2005 Bonus
            -------                                      ----------
            Frank R. Schmeler                              $500,000
            Joseph G. Morone                                150,000
            Michael C. Nahl                                 229,400
            William M. McCarthy                             229,400
            Dieter Polt                                     149,500

The Committee has also established target 2006 cash bonuses for Messrs. Morone,
Nahl, McCarthy and Polt pursuant to the Registrant's Annual Bonus Program as

            Officer                               2006 Target Bonus
            -------                               -----------------
            Joseph G. Morone                               $330,000
            Michael C. Nahl                                 203,300
            William M. McCarthy                             181,300
            Dieter Polt                                     140,100

The Committee determined that cash bonuses for the Registrant's top management,
including the above-named officers, for 2006 would be based on one or more of:
consolidated operating income, corridor or segment operating income, other
functional metrics and individual performance criteria. A cash bonus equal to
the target amount will generally be paid if the Committee determines that
appropriate performance levels in each of these areas has been achieved. Lesser
bonuses may be paid if such performance is not achieved and larger bonuses if
performance exceeds such levels. The Committee further determined, however, that
it would reserve the right to exercise its discretion, after the close of the
2006 fiscal year, as in prior years, to determine to what extent cash bonuses
had been earned, and reserved the right to take individual performance factors
(including, for example, the possible adverse impact during the year of
cost-reduction, plant closings or downsizings and other restructuring-related
activities in specific divisions, regions or business lines) into account, and
to employ both objective and subjective criteria in determining the final


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                   ALBANY INTERNATIONAL CORP.

                                   By: /s/ Charles J. Silva, Jr.
                                       Name: Charles J. Silva, Jr.
                                       Title: Vice President and General Counsel

Date:   February 22, 2006