Complex sentence: Dodd bitterly comments that Freddie must find a new master, any master, or else his life will have no meanin, and then serenades Freddie with the song "Slow Boat to China".
Split into simpler sentences: Dodd bitterly comments that Freddie must find a new master, any master, or else his life will have no meaning. Then Dodd serenades Freddie with the song "Slow Boat to China".