Normally it is on the camshaft. There will be a spring loaded weight that swings out at a specified rpm. At cranking speed, the spring can hold the weight in that activates the device that slightly opens the exhaust valve. At running speed, the weight swings out and the valve train operates normally. Search fd750d camshaft for pictures:
eXmark LZ27LKA64 6" Lazer Z Kawasaki FD75D 27hp Engine Camshaft | eBay