Document:

Exhibit 10.16

    

     

    

    OPTION GRANT NOTICE

    UNDER THE

    INGERSOLL RAND INC.

    AMENDED AND RESTATED 2017 OMNIBUS INCENTIVE PLAN

    

    

    Ingersoll Rand Inc. (the “Company”), pursuant to its Amended and Restated 2017 Omnibus Incentive Plan (the “Plan”), hereby grants to the Participant set forth below the number of Options (each Option
      representing the right to purchase one share of Common Stock) at an Exercise Price per share as set forth below. The Options are subject to all of the terms and conditions as set forth herein, in the Global Award Agreement (attached hereto or
      previously provided to the Participant in connection with a prior grant), and in the Plan, all of which are incorporated herein in their entirety. Capitalized terms not otherwise defined herein shall have the meaning set forth in the Plan.

    

    

    	
            Participant:

          	
            [Participant Name]

          
	 	 
	
            Date of Grant:

          	
            [Grant Date]

          
	 	 
	
            Vesting Commencement Date:

          	
            [Vest From Date]

          
	 	 
	
            Number of Options:

          	
            [Number of Shares Granted]

          
	 	 
	
            Option Exercise Price:

          	
            [Grant Price]

          
	 	 
	
            Option Period Expiration Date:

          	
            Ten years from Date of Grant

          
	 	 
	
            Type of Option:

          	
            Nonqualified Stock Option

          
	 	 
	
            Vesting Schedule:

          	
            Provided the Participant has not undergone a Termination prior to the time of each applicable vesting date (or event), the Options shall become vested and exercisable as to 25% of the Options on each of the first, second, third and fourth
              anniversaries of the Vesting Commencement Date (each, a “Vesting Date”).

          
	 	 
	 	
            In the event of the Participant’s Termination, all vesting with respect to the Options shall cease and all unvested Options shall be forfeited by the Participant for no consideration as of the date of such Termination; provided, that in the event of the Participant’s Qualifying Termination or Approved Retirement, the Options that would have vested on the first Vesting Date otherwise scheduled to occur immediately
              following the date of such Qualifying Termination or Approved Retirement shall vest as of the date of Qualifying Termination or Approved Retirement, as applicable; and provided further that in the event of the Participant’s death or
              Disability, the Options that would have vested on the first and second Vesting Date otherwise scheduled to occur immediately following the date of such death or Disability shall vest as of the date of death or Disability.  Notwithstanding the
              foregoing, if the Company receives a legal opinion that there has been a legal judgment and/or legal development in the Participant’s jurisdiction that would likely result in the  favorable treatment that applies to the Options if the
              Participant’s Termination occurs as a result of Participant’s Approved Retirement being deemed unlawful and/or discriminatory, the Company may determine that the Participant’s Retirement is no longer an Approved Retirement and the remaining
              provisions will govern.

          

    

    

    
      
        

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            Further, in the event of the Participant’s Qualifying Termination during the two-year period following a Change in Control, all unvested Options shall immediately vest as of the date of Qualifying Termination.

          
	 	 
	
            Definitions:

          	
            “Approved Retirement” means a Retirement that occurs following the Participant’s receipt of written confirmation by the Company that such Retirement will be designated as an “Approved Retirement” for purposes of the Plan.  The
              designation of an Approved Retirement shall be made by the Company in its sole discretion, and the Company’s determination as to whether a Retirement is an Approved Retirement shall be final and binding upon the Participant.

          
	 	 
	 	
            “Cause” means the Participant’s (A) willful neglect in the performance of the Participant’s duties for the Service Recipient or willful or repeated failure or refusal to perform such duties; (B) engagement in conduct in connection
              with the Participant’s employment or service with the Service Recipient, which results in, or could reasonably be expected to result in, material harm to the business or reputation of the Company or any other member of the Company Group; (C)
              conviction of, or plea of guilty or no contest to, (I) any felony; or (II) any other crime that results in, or could reasonably be expected to result in, material harm to the business or reputation of the Company or any other member of the
              Company Group; (D) engaging in any act of moral turpitude, illegality or harassment, whether or not such act was committed in connection with the Participant’s services to the Company Group; (E) material violation of the Company’s Code of
              Conduct or any other written policies of the Company or the Service Recipient, including, but not limited to, those relating to sexual harassment or the disclosure or misuse of confidential information, or those set forth in the manuals or
              statements of policy of the Company or Service Recipient; (F) fraud or misappropriation, embezzlement or misuse of funds or property belonging to the Company or any other member of the Company Group; or (G) act of personal dishonesty that
              involves personal profit in connection with the Participant’s employment or service to the Service Recipient.

          

    

    

    
      
        

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            “Detrimental Activity” means any of the following: (i) unauthorized disclosure of any confidential or proprietary information of any member of the Company Group; (ii) any activity that would be grounds to terminate the Participant’s
              employment or service with the Service Recipient for Cause; or (iii) a breach by the Participant of any restrictive covenant by which such Participant is bound, including, without limitation, the covenants attached to the Global Award
              Agreement as Appendix A.

          
	 	 
	 	
            “Qualifying Termination” means a Termination by the Company without Cause.

          
	 	 
	 	
            “Retirement” means the Participant’s Termination as a result of the Participant’s voluntary resignation on or after the date on which the Participant has reached age 62 and has completed at least 10 years of service with the Company
              Group.

          

    

    

    *          *          *

     

    

    
      
        

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    THE UNDERSIGNED PARTICIPANT ACKNOWLEDGES RECEIPT OF THIS OPTION GRANT NOTICE, THE GLOBAL AWARD AGREEMENT AND THE PLAN, AND, AS AN EXPRESS CONDITION TO THE GRANT OF OPTIONS HEREUNDER, AGREES TO BE BOUND BY THE TERMS OF
      THIS OPTION GRANT NOTICE, THE GLOBAL AWARD AGREEMENT AND THE PLAN.

    

    

    	
            INGERSOLL RAND INC.

          	 	
            PARTICIPANT1

          
	 	 	 
	 	 	
            ELECTRONIC SIGNATURE

          
	
            By:

          	 	 
	
            Title:

          	 	 

    

    

    [Participant Name]

    

    

    [Participant ID]

    

    

    End tag

    

    

    

    

    
       

      

      	
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              To the extent that the Company has established, either itself or through a third-party plan administrator, the ability to accept this award electronically, such acceptance shall constitute the Participant’s
                signature hereof.

            

       

      

    

    
      
        

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    GLOBAL AWARD AGREEMENT

    UNDER THE

    INGERSOLL RAND INC. 

    AMENDED AND RESTATED 2017 OMNIBUS INCENTIVE PLAN

    

    

    Pursuant to the Option Grant Notice (the “Grant Notice”) delivered to the Participant (as defined in the Grant Notice), and subject to the terms of this Global Award Agreement (this “Award Agreement”) and
      the Ingersoll Rand Inc. Amended and Restated 2017 Omnibus Incentive Plan (the “Plan”), Ingersoll Rand Inc. (the “Company”) and the Participant agree as follows.  Capitalized terms not otherwise defined herein shall have the same meaning
      as set forth in the Plan.

    

    

    1. Grant of Options.  Subject to the terms and conditions set forth herein and in the Plan, the Company hereby grants to the
      Participant the number of Options provided in the Grant Notice (with each Option representing the right to purchase one share of Common Stock), at an Exercise Price per share as provided in the Grant Notice (Options also are referred to herein as “Awards”). 

      The Company may make one or more additional grants of Options to the Participant under this Award Agreement by providing the Participant with a new Grant Notice, which may also include any terms and conditions differing from this Award Agreement to
      the extent provided therein.  The Company reserves all rights with respect to the granting of additional Options hereunder and makes no implied promise to grant additional Options.

    

    

    2. Vesting.  Subject to the conditions contained herein and the Plan, the Options shall vest as provided in the Grant Notice.

    

    

    3. Exercise and Vesting of Options Following Termination. In the event of Participant’s Termination (a) by the Company for Cause, all outstanding Options granted pursuant
      to the Grant Notice shall immediately terminate and expire; (b) due to death or Disability, each outstanding unvested Option granted pursuant to the Grant Notice (after taking into account any accelerated vesting described in the Vesting Schedule of
      the Grant Notice) shall immediately terminate and expire and each outstanding vested Option shall remain exercisable for one year thereafter (but in no event beyond the expiration of the Option Period); and (c) for any reason other than as set forth
      in this Section 3, each outstanding unvested Option granted pursuant to this Grant Notice (after taking into account any accelerated vesting described in the Vesting Schedule of the Grant Notice) shall immediately terminate and expire and each
      outstanding vested Option shall remain exercisable for 90 days thereafter (but in no event beyond the expiration of the Option Period).

    

    

    4. Method of Exercising Options. The Options may be exercised by the delivery of notice of the number of Options that are being exercised accompanied by payment in full of
      the Exercise Price applicable to the Options so exercised.  Such notice shall be delivered either (x) in writing to the Company at its principal office or at such other address as may be established by the Committee, to the attention of the Company
      Secretary; or (y) to a third-party plan administrator as may be arranged for by the Company or the Committee from time to time for purposes of the administration of outstanding Options under the Plan, in the case of either (x) or (y), as communicated
      to the Participant by the Company from time to time.  Payment of the aggregate Exercise Price may be made using any of the methods described in Section 7(d)(i) or (ii)(B) of the Plan; provided, that the
      Participant shall obtain written consent from the Company prior to the use of the method described in Section 7(d)(ii)(A) or (C) of the Plan.

     

    

    
      
        

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    5. Issuance of Shares Upon Exercise of Options.  Following the exercise of an Option hereunder, as promptly as practical after
      receipt of such notification and full payment of such Exercise Price and any required income or other tax withholding amount (as provided in Section 9 hereof), the Company shall issue or transfer, or cause such issue or transfer, to the Participant
      the number of shares with respect to which the Options have been so exercised, and shall either (a) deliver, or cause to be delivered, to the Participant a certificate or certificates therefor, registered in the Participant’s name or (b) cause such
      shares to be credited to the Participant’s account at the third-party plan administrator.

    

    

    6. Company; Participant.

    

    

    (a) The term “Company” as used in this Award Agreement with reference to employment shall include the Company and its Subsidiaries.

    

    

    (b) Whenever the word “Participant” is used in any provision of this Award Agreement under circumstances where the provision should logically be construed to apply to the executors, the administrators, or the
      person or persons to whom the Options may be transferred by will or by the laws of descent and distribution, the word “Participant” shall be deemed to include such person or persons.

    

    

    7. Non-Transferability. The Options are not transferable by the Participant except to Permitted Transferees in accordance with
      applicable laws and Section 14(b) of the Plan.  Except as otherwise provided herein, no assignment or transfer of the Options, or of the rights represented thereby, whether voluntary or involuntary, by operation of law or otherwise, shall vest in the
      assignee or transferee any interest or right herein whatsoever, but immediately upon such assignment or transfer the Options shall terminate and become of no further effect.

    

    

    8. No Rights as Stockholder.  The Participant or a Permitted Transferee of the Options shall have no rights as a stockholder with
      respect to any share of Common Stock covered by an Option until the Participant or the Permitted Transferee shall have become the holder of record or the beneficial owner of such Common Stock, and no adjustment shall be made for dividends or
      distributions or other rights in respect of such share of Common Stock for which the record date is prior to the date upon which the Participant or the Permitted Transferee shall become the holder of record or the beneficial owner thereof.

    

    

    9. Tax Withholding.

    

    

    (a)           The Participant shall be required to pay to the Company an amount equal to the amount of any income, employment and/or other applicable taxes that are statutorily required to be withheld in respect of the
      Options (the “Tax Obligation”), payable, at the Participant’s election, either (x) in cash (by check or wire transfer) or (y) if there is a public market for the shares of Common Stock at such time, by means of a broker-assisted “cashless
      settlement” pursuant to which the Company is delivered (including telephonically to the extent permitted by the Company) a copy of irrevocable instructions to a stockbroker to sell the shares of Common Stock otherwise issuable upon the exercise of
      the Option and to deliver promptly to the Company an amount equal to the Tax Obligation. Alternatively, the Company may elect, in its sole discretion, to satisfy this requirement by withholding such amount from any cash compensation or other cash
      amounts owing to the Participant.

     

    

    
      
        

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    (b)           Without limiting the foregoing, the Company may (but is not obligated to), in its sole discretion, permit or require the Participant to satisfy, all or any portion of the minimum income, employment and/or
      other applicable taxes that are statutorily required to be withheld with respect to the Options by (i) the delivery of the shares of Common Stock (which are not subject to any pledge or other security interest) that have been both held by the
      Participant and vested for at least six (6) months (or such other period as established from time to time by the Committee in order to avoid adverse accounting treatment under applicable accounting standards) having an aggregate Fair Market Value
      equal to such minimum statutorily required withholding liability (or portion thereof); or (ii) having the Company withhold from the shares of Common Stock otherwise issuable or deliverable to, or that would otherwise be retained by, the Participant
      upon the grant, exercise, vesting or settlement of the Award, as applicable, a number of shares of Common Stock with an aggregate Fair Market Value equal to an amount, subject to clause (c) below, not in excess of such minimum statutorily required
      withholding liability (or portion thereof).

    

    

    (c)           The Company, subject to its having considered the applicable accounting impact of any such determination, has full discretion to allow the Participant to satisfy, in whole or in part, any additional income,
      employment and/or other applicable taxes payable by them with respect to the Options by electing to have the Company withhold from the shares of Common Stock otherwise issuable or deliverable to, or that would otherwise be retained by, the
      Participant upon the grant, exercise, vesting or settlement of the Options, as applicable, shares of Common Stock having an aggregate Fair Market Value that is greater than the applicable minimum required statutory withholding liability (but such
      withholding may in no event be in excess of the maximum statutory withholding amount(s) in the Participant’s relevant tax jurisdiction), in which case, the Participant may receive a refund in cash of any amount withheld that exceeds the amount
      remitted to the applicable tax authorities and will have no entitlement to the equivalent in shares of Common Stock or to any interest on such over-withheld amount.

    

    

    (d)           The Participant acknowledges that, regardless of any action taken by the Company, or, if different, the Service Recipient, the ultimate liability for all income tax, social insurance, payroll tax, fringe
      benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (the “Tax-Related Items”), is and remains the Participant’s responsibility and may
      exceed the amount, if any, actually withheld by the Company or the Service Recipient.  The Participant further acknowledges that the Company and/or the Service Recipient (1) make no representations or undertakings regarding the treatment of any
      Tax-Related Items in connection with any aspects of the Awards, including but not limited to, the grant, exercise, vesting or settlement of the Award, as applicable, the subsequent sale of shares of Common Stock acquired under the Plan and the
      receipt of any dividends; and (2) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Awards to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax
      result.  Further, if the Participant is subject to Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Service Recipient may be required to withhold or account for Tax-Related Items in more than
      one jurisdiction.

     

    

    
      
        

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    (e)           Prior to any relevant taxable or tax withholding event, as applicable, the Participant agrees to make adequate arrangements satisfactory to the Company and/or the Service Recipient to satisfy all
      Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Service Recipient, or their respective agents, at their discretion, to satisfy any obligations with regard to all Tax-Related Items by any of the means set forth
      herein.

    

    

    (f)            If the obligations for Tax-Related Items is satisfied by withholding in shares of Common Stock, for tax purposes, the Participant is deemed to have been issued the full number of shares of Common Stock,
      notwithstanding that a number of the shares of Common Stock are held back solely for the purpose of paying the Tax-Related Items.  The Company may refuse to issue or deliver the shares of Common Stock or proceeds from the sale of shares of Common
      Stock if the Participant fails to comply with the Participant’s obligations in connection with the Tax-Related Items.

    

    

    10. Notice.  Every notice or other communication relating to this Award Agreement between the Company and the Participant shall be
      in writing, and shall be mailed to or delivered to the party for whom it is intended at such address as may from time to time be designated by such party in a notice mailed or delivered to the other party as herein provided; provided that, unless and until some other address be so designated, all notices or communications by the Participant to the Company shall be mailed or delivered to the Company at its principal executive office, to the attention of
      the Company Secretary, and all notices or communications by the Company to the Participant may be given to the Participant personally or may be mailed to the Participant at the Participant’s last known address, as reflected in the Company’s records. 
      Notwithstanding the above, all notices and communications between the Participant and any third-party plan administrator shall be mailed, delivered, transmitted or sent in accordance with the procedures established by such third-party plan
      administrator and communicated to the Participant from time to time.

    

    

    11. No Right to Continued Service.  This Award Agreement does not confer upon the Participant any right to continue as an employee or service provider to the Company.

    

    

    12. Binding Effect.  This Award Agreement shall be binding upon the heirs, executors, administrators and successors of the parties
      hereto.

    

    

    13. Waiver and Amendments.  Except as otherwise set forth in Section 13 of the Plan, any waiver, alteration, amendment or modification of any of the terms of this Award
      Agreement shall be valid only if made in writing and signed by the parties hereto; provided, however, that any such waiver, alteration, amendment or modification is consented to on the Company’s behalf by the
      Committee.  No waiver by either of the parties hereto of their rights hereunder shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions hereunder unless such waiver specifically states that it is to be
      construed as a continuing waiver.

    

    

    
      
        

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    14. Restrictive Covenants; Clawback/Forfeiture.

    

    

    (a)           Participant acknowledges and recognizes the highly competitive nature of the businesses of the Company and its Affiliates and accordingly agrees, in his capacity as an equity (and/or equity-based Award)
      holder in the Company, to the provisions of Appendix A to this Award Agreement (the “Restrictive Covenants”). The Options granted hereunder shall be subject to Participant’s continued compliance with such restrictions.  For the avoidance of
      doubt, the Restrictive Covenants contained in this Award Agreement are in addition to, and not in lieu of, any other restrictive covenants or similar covenants or agreements between the Participant and the Company or any of its Affiliates.

    

    

    (b)           Notwithstanding anything to the contrary contained herein or in the Plan, if the Participant has engaged in or engages in any Detrimental Activity, then the Committee may, in its sole discretion, take
      actions permitted under the Plan, including: (i) cancel the Options; or (ii) require that the Participant forfeit any gain realized on the exercise of the Options or the disposition of any shares of Common Stock received upon the exercise of the
      Options, and repay such gain to the Company. In addition, if the Participant receives any amount in excess of what the Participant should have received under the terms of this Award Agreement for any reason (including without limitation by reason of
      a financial restatement, mistake in calculations or other administrative error), the Participant shall be required to repay any such excess amount to the Company. Without limiting the foregoing, all Options shall be subject to reduction,
      cancellation, forfeiture or recoupment to the extent necessary to comply with applicable law.

    

    

    15. Nature of Grant. In accepting the Awards, the Participant acknowledges, understands and agrees that:

    

    

    (a)           the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time;

    

    

    (b)           the grant of the Awards is exceptional, voluntary and occasional and does not create any contractual or other right to receive any future awards, or benefits in lieu of awards, even if awards have been
      granted in the past;

    

    

    (c)           all decisions with respect to future awards, if any, will be at the sole discretion of the Company;

    

    

    (d)           the Participant is voluntarily participating in the Plan;

    

    

    (e)           the Awards, any shares of Common Stock acquired under the Plan and the income from and value of same, are not intended to replace any pension rights or compensation;

    

    

    (f)            the Awards, any shares of Common Stock acquired under the Plan and the income from and value of same, are not part of normal or expected compensation or salary for any purposes, including but not limited
      to calculating any severance, resignation, termination, redundancy, dismissal end of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments;

     

    

    
      
        

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    (g)           unless otherwise agreed with the Company in writing, the Awards and any shares of Common Stock acquired under the Plan, and the income from and value of same, are not granted in consideration for, or in
      connection with, the service the Participant may provide as an officer or director of a Subsidiary;

    

    

    (h)           the future value of the underlying shares of Common Stock is unknown and cannot be predicted with certainty;

    

    

    (i)            the Options will not have value if the underlying shares of Common Stock do not increase in value, and if the Participant exercises the Option and acquires shares of Common Stock, the value of such shares
      of Common Stock may increase or decrease, even below the Exercise Price;

    

    

    (j)            no claim or entitlement to compensation or damages shall arise from forfeiture of the Participant’s Awards resulting from Participant’s Termination (for any reason whatsoever and whether or not in breach
      of local labor laws);

    

    

    (k)           for purposes of the Awards, a Termination will be deemed to have occurred as of the date the Participant is no longer providing services to the Company or any Subsidiary (regardless of the reason for such
      termination and whether or not later found to be invalid or in breach of labor laws in the jurisdiction where the Participant is employed or the terms of the Participant’s employment agreement, if any).  Unless otherwise determined by the Committee,
      the Participant’s right to vest in the Award will terminate as of such date and will not be extended by any notice period (e.g., the Participant’s period of service would not include any contractual notice
      period or any period of “garden leave” or similar period mandated under labor laws in the jurisdiction where the Participant is employed or the terms of the Participant’s employment agreement, if any); and the period (if applicable) during which
      Participant may exercise an Option after Termination will commence as of such date and will not be extended by any notice period mandated under labor laws in the jurisdiction where the Participant is employed or the terms of the Participant’s
      employment agreement, if any.  The Committee shall have the exclusive discretion to determine when the Participant is no longer actively providing services for purposes of the Awards (including whether the Participant may still be considered to be
      providing services while on a leave of absence); and

    

    

    (l)            neither the Company, the Service Recipient nor any other Subsidiary shall be liable for any foreign exchange rate fluctuation between the Participant’s local currency and the United States Dollar that may
      affect the value of the Awards or any amounts due to the Participant pursuant to the settlement of the Awards or subsequent sale of shares of Common Stock acquired under the Plan.

    

    

    16. Data Privacy Provisions Applicable to Participants Outside the United  Kingdom, European Union & the European Economic Area.

    

    

    (a)  The Participant hereby explicitly and unambiguously consents to the collection, use
        and transfer, in electronic or other form, of the Participant’s personal data as described in this Award Agreement and any other grant materials by and among, as applicable, the Service Recipient, the Company and any Affiliate for the exclusive
        purpose of implementing, administering and managing the Participant’s participation in the Plan.

     

      

    
      
        

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    (b)  The Participant understands that the Company and the Service
          Recipient may hold certain personal information about the Participant, including, but not limited to, the Participant’s name, home address, email address and telephone number, date of birth, passport number, social insurance number or other
          identification number (e.g., resident registration number), salary, nationality, job title, any shares of Common Stock or directorships held in the Company, details of all Awards or any other entitlement to shares of Common Stock or equivalent
          benefits awarded, purchased, canceled, exercised, vested, unvested or outstanding in the Participant’s favor, for the exclusive purpose of implementing, administering and managing the Plan (“Data”).

    

    

    (c)  The Participant understands that Data may be transferred to Fidelity Stock Plan
        Services, LLC, an independent service provider (the “Service Provider”), or such other stock plan service provider as may be selected by the Company in the future, which is assisting the
        Company with the implementation, administration and management of the Plan. The Participant understands that the recipients of Data may be located in the United States or elsewhere, and that the recipients’ country (e.g., the United States) may
        have different data privacy laws and protections than the Participant’s country.

    

    

    (d)  The Participant understands that he or she may request a list with the names and
        addresses of any potential recipients of Data by contacting his or her local human resources representative. The Participant authorizes the Company, the Service Provider and any other possible recipients which may assist the Company (presently or
        in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer Data, in electronic or other form, for the sole purpose of implementing, administering and managing the Participant’s participation
        in the Plan. The Participant understands that Data will be held only as long as is necessary to implement, administer and manage the Participant’s participation in the Plan.

    

    

    (e)   The Participant understands that he or she may, at any time, view Data, request
        information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the Participant’s local human resources representative.
        Further, the Participant understands that he or she is providing the consents herein on a purely voluntary basis. If the Participant does not consent, or if the Participant later seeks to revoke his or her consent, the Participant’s employment
        status or service with the Service Recipient will not be affected; the only consequence of refusing or withdrawing consent is that the Company would not be able to grant the Options or other equity awards to the Participant or administer or
        maintain such awards. Therefore, the Participant understands that refusing or withdrawing his or her consent may affect his or her ability to participate in the Plan. For more information on the consequences of the Participant’s refusal to consent
        or withdrawal of consent, the Participant understands that he or she may contact his or her local human resources representative.

     

      

    
      
        

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    17.          Data Privacy Notification for Participants in the United Kingdom, European Union & the European Economic Area.  This section 17 does not form part of the Participant’s contractual terms: it is an explanatory notice only.

    

    

    (a)  The Company, its Subsidiaries and Affiliates will collect, use and transfer, as
        described in this Award Agreement, the Participant’s Personal Data for implementing, administering and managing the Participant’s participation in the Plan. The lawful bases relied on under data protection laws to do this are: to perform the
        contract in place with the Participant, and the legitimate interests of the Company to develop its business.

    

    

    (b)  The Company and the Service Recipient hold Personal Data about the
          Participant, including but not limited to the Participant’s name, home address and telephone number, email address, date of birth, national insurance number, passport number or similar identification details, salary, nationality, job title, any
          shares of Common Stock or directorships held in the Company, details of all entitlement to shares of Common Stock awarded, cancelled, exercised, vested, unvested or outstanding in the Participant’s favor (“Personal
            Data”). This information needs to be held to implement, administer and manage the Participant’s participation in the Plan.

    

    

    (c)  The Participant’s Personal Data will be kept secure and will only be retained for
        as long as necessary to implement, administer and manage the Participant’s participation in the Plan. If the Participant does not provide us with the Personal Data we need, then we will not be able to administer the Participant’s Options or the
        Participant’s participation in the Plan.

    

    

    (d)  The Participant may, at any time and without cost, contact
        Data.Privacy@gardnerdenver.com to enforce the Participant’s rights under the data protection laws in the Participant’s country, which may include the right to: (i) request access or copies of Personal Data subject to processing; (ii) request
        rectification of incorrect Personal Data; (iii) request deletion of Personal Data; (iv) request restriction on processing of Personal Data; (v) request portability of Personal Data; (vi) lodge complaints with competent authorities in the
        Participant’s country; and/or (vii) request a list with the names and addresses of any potential recipients of the Participant’s Personal Data.

    

    

    (e)  The Company will need to transfer the Participant’s Personal Data to Service
        Provider, which is located in the United States, and other third parties selected by the Company, which are assisting with the implementation, administration and management of the Plan. These other third parties are likely to be  brokers and the
        organizations with whom the Participant chooses to deposit any shares of Common Stock acquired upon exercise of the Options.

    

    

    (f)   These recipients, which may receive, use, retain and transfer the Participant’s
        Personal Data, may be located outside the United Kingdom and the European Economic Area (e.g., the United States), and may have different data privacy laws and protections than Participant’s country. When transferring the Participant’s Personal
        Data to these recipients, the Company ensures that each transfer takes place in accordance with data protection law, and that it provides appropriate safeguards for the Participant’s Personal Data wherever possible. The Participant can request a
        copy of the approach and safeguards used for each specific transfer of the Participant’s data by contacting Data.Privacy@gardnerdenver.com.

     

      

    
      
        

      13

    

    18. Country-Specific Provisions. Notwithstanding any provisions in this Award Agreement, the Awards shall be subject to any
      additional terms and conditions set forth in the Addendum for the Participant’s country.  If the Participant relocates to one of the countries included in the Addendum, the terms and conditions for such country will apply to the Participant to the
      extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons.

    

    

    19. Language. By electing to accept this Award Agreement, the Participant acknowledges that he or she is sufficiently proficient in
      English, or has consulted with an advisor who is sufficiently proficient in English so as to allow the Participant, to understand the terms and conditions of this Award Agreement. If the Participant has received this Award Agreement or any other
      documentation related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

    

    

    20. Imposition of Other Requirements. The Company reserves the right to impose other requirements on the Participant’s
      participation in the Plan, on the Awards and on any shares of Common Stock acquired under the Plan, to the extent the Company determines it is  necessary or advisable for legal or administrative reasons, and to require the Participant to sign any
      additional agreements or undertakings that may be necessary to accomplish the foregoing.

    

    

    21. Insider Trading/Market-Abuse Laws. The Participant may be subject to insider trading restrictions and/or market abuse laws
      based on the exchange on which the shares of Common Stock are listed and in applicable jurisdictions, including the Participant’s country and the designated broker’s country, which may affect the Participant’s ability to accept, acquire, sell or
      otherwise dispose of the shares of Common Stock, rights to the shares of Common Stock (i.e., Options) or rights linked to the value of the shares of Common Stock under the Plan during such times as the
      Participant is considered to have “inside information” regarding the Company (as defined by the laws in the applicable jurisdictions).  Local insider trading laws and regulations may prohibit the cancellation or amendment of orders the Participant
      placed before possessing inside information.  Furthermore, the Participant may be prohibited from (i) disclosing inside information to any third party, including fellow employees  and (ii) “tipping” third parties or causing them to otherwise buy or
      sell securities.  Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable Company insider trading policy. The Participant acknowledges that it is the
      Participant’s responsibility to comply with any applicable restrictions and the Participant should speak with the Participant’s personal advisor on this matter.

    

    

    22. Foreign Asset/Account Reporting Requirements and Exchange Controls. The Participant acknowledges that the Participant’s country
      may have certain foreign asset and/or account reporting requirements and exchange controls which may affect the Participant’s ability to acquire or hold shares of Common Stock acquired under the Plan or cash received from participating in the Plan in
      a brokerage or bank account outside the Participant’s country.  The Participant may be required to report such accounts, assets or transactions to the tax or other authorities in the Participant’s country.  The Participant also may be required to
      repatriate sale proceeds or other funds received as a result of the Participant’s participation in the Plan to the Participant’s country through a designated bank or broker within a certain time after receipt.  The Participant acknowledges that it is
      the Participant’s responsibility to be compliant with such regulations, and the Participant should consult the Participant’s personal legal advisor for any details.

     

    

    
      
        

      14

    

    23. Severability. The provisions of this Award Agreement are severable and if any one or more provisions are determined to be
      illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.

    

    

    24. No Advice Regarding Grant. The Company is not providing any tax, legal or financial advice, nor is the Company making any
      recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of shares of Common Stock. The Participant understands and agrees that the Participant should consult with his or her own personal legal and
      financial advisors regarding the Participant’s participation in the Plan before taking any action related to the Plan.

    

    

    25. Electronic Delivery and Acceptance. The Company may, in its sole discretion, decide to deliver any documents related to current
      or future participation in the Plan by electronic means.  The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the
      Company or a third party designated by the Company.  Further, the parties hereto shall be entitled to rely on delivery of a facsimile or other electronic copy of this Award Agreement, and delivery by either party of such facsimile or electronic copy
      shall be legally effective to create a valid and binding agreement between the parties in accordance with the terms hereof.

    

    

    26. Governing Law and Venue. This Award Agreement shall be construed and interpreted in accordance with the laws of the State of
      Delaware, without regard to the principles of conflicts of law thereof.  Notwithstanding anything contained in this Award Agreement, the Grant Notice or the Plan to the contrary, if any suit or claim is instituted by the Participant or the Company
      relating to this Award Agreement, the Grant Notice or the Plan, the Participant hereby submits to the exclusive jurisdiction of and venue in the courts of Delaware.

    

    

    27. Plan. The terms and provisions of the Plan are incorporated herein by reference.  In the event of a conflict or inconsistency
      between the terms and provisions of the Plan and the provisions of this Award Agreement (including the Grant Notice), the Plan shall govern and control.

    

    

    
      
        

      15

    

    Appendix A

    

    

    Restrictive Covenants

    

    

    	

          	1.	
            Non-Competition; Non-Solicitation; Non-Disparagement.

          

    

    

    (a)           Participant acknowledges and recognizes the highly competitive nature of the businesses of the Company and its Affiliates and accordingly agrees as follows:

    

    

    (i)          During Participant’s employment with the Company or its Subsidiaries (the “Employment Term”) and for a period of one year following the date
      Participant ceases to be employed by the Company or its Subsidiaries (the “Restricted Period”), Participant will not, whether on Participant’s own behalf or on behalf of or in conjunction with any person, firm, partnership, joint venture,
      association, corporation or other business organization, entity or enterprise whatsoever (“Person”), directly or indirectly solicit or assist in soliciting in competition with the Restricted Group in the Business, the business of any then
      current or prospective client or customer with whom Participant (or his direct reports) had personal contact or dealings on behalf of the Company during the one-year period preceding Participant’s termination of employment.

    

    

    (ii)         During the Restricted Period, Participant will not directly or indirectly:

    

    

    (A)          engage in the Business in any geographical area where the Restricted Group engages in the Business;

    

    

    (B)          enter the employ of, or render any services to any Person engaged in the Business, except where such employment or services do not relate in any manner
      to the Business;

    

    

    (C)          acquire a financial interest in, or otherwise become actively involved with, any Person engaged in the Business, directly or indirectly, as an
      individual, partner, shareholder, officer, director, principal, agent, trustee or consultant; or

    

    

    (D)          intentionally and adversely interfere with, or attempt to adversely interfere with, business relationships between the members of the Restricted Group
      and any of their clients, customers, suppliers, partners, members or investors.

    

    

    (iii)        Notwithstanding anything to the contrary in this Appendix A, Participant may, directly or indirectly own, solely as an investment, securities
      of any Person engaged in a Business which are publicly traded on a national or regional stock exchange or on the over-the-counter market if Participant (i) is not a controlling person of, or a member of a group which controls, such person and (ii)
      does not, directly or indirectly, own 5% or more of any class of securities of such Person.

    

    

    (iv)        During the Employment Term and for a period of one year from the date Participant ceases to be employed by the Company or its Subsidiaries, Participant
      will not, whether on Participant’s own behalf or on behalf of or in conjunction with any Person, directly or indirectly:

      

    

    
      
        

      16

    

    (A)          solicit or encourage any employee of the Restricted Group to leave the employment of the Restricted Group;

    

    

    (B)          hire any employee who was employed by the Restricted Group as of the date of Participant’s termination of employment with the Company or who left the
      employment of the Restricted Group coincident with, or within one year prior to or after, the termination of Participant’s employment with the Company; or

    

    

    (C)          encourage any consultant or independent contractor of the Restricted Group to cease working with the Restricted Group.

    

    

    (v)         For purposes of this Appendix A:

    

    

    (A)          “Business” shall mean the business of the design, manufacture, distribution and marketing of air and gas compressors, blowers, pumps and fluid
      transfer systems and related activities, and any other business activity in which the Company and its subsidiaries may, after the date of this Agreement, become engaged, or take substantial steps to engage.

    

    

    (B)          “Restricted Group” shall mean, collectively, the Company and its Subsidiaries and, to the extent engaged in the Business, their respective
      Affiliates.

    

    

    (b)           Non-Disparagement. Participant will not at any time (whether during or after Participant’s Employment Term) make public statements or public comments intended to
      be (or having the effect of being) of defamatory or disparaging nature regarding (including any statements or comments likely to be harmful to the business, business reputation or personal reputation of) the Company or any of its Subsidiaries or
      Affiliates or any of their respective businesses, shareholders, members, partners, employees, agents, officers, directors or contractors (it being understood that comments made in Participant’s good faith performance of his duties hereunder shall not
      be deemed disparaging or defamatory for purposes of this paragraph); provided that the Participant shall be permitted to make truthful disclosures that are required by applicable law, regulations or order of a court or government agency.

    

    

    (c)           It is expressly understood and agreed that although Participant and the Company consider the restrictions contained in this Section 1 to be reasonable, if a final
      judicial determination is made by a court of competent jurisdiction that the time or territory or any other restriction contained in this Appendix A is an unenforceable restriction against Participant, the provisions of this Appendix A
      shall not be rendered void but shall be deemed amended to apply as to such maximum time and terri-tory and to such maximum extent as such court may judicially determine or indicate to be enforceable.  Alternatively, if any court of competent
      jurisdiction finds that any restric-tion contained in this Appendix A is unenforceable, and such restriction cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of any of the other restrictions
      contained herein.

     

    

    
      
        

      17

    

    (d)           The period of time during which the provisions of Section 1(a) shall be in effect shall be extended by the length of time during which Participant is in breach of the
      terms hereof as determined by any court of competent jurisdiction on the Company’s application for injunctive relief.

    

    

    (e)           The provisions of Section 1 hereof shall survive the termination of Participant’s employment for any reason, including but not limited to, any termination other than for
      Cause (except as otherwise set forth in Section 1 hereof).

    

    

    (f)           The provisions of Section 1(a)(i), (ii), (iii) and (iv)(B) hereof shall not apply if Participant’s principal place of employment is in the state of California.

    

    

    	

          	2.	
            Confidentiality; Intellectual Property.

          

    

    

    (a)           Confidentiality.

    

    

    (i)          Participant will not at any time (whether during or after Participant’s Employment Term) (x) retain or use for the benefit, purposes or account of
      Participant or any other Person; or (y) disclose, divulge, reveal, communicate, share, transfer or provide access to any Person outside the Company (other than its professional advisors who are bound by confidentiality obligations or otherwise in
      performance of Participant’s duties under Participant’s employment and pursuant to customary industry practice), any non-public, proprietary or confidential information—including without limitation trade secrets, know-how, research and development,
      software, databases, inventions, processes, formulae, technology, designs and other intellectual property, information concerning finances, investments, profits, pricing, costs, products, services, vendors, customers, clients, partners, investors,
      personnel, compensation, recruiting, training, advertising, sales, marketing, promotions, government and regulatory activities and approvals—concerning the past, current or future business, activities and operations of the Company, its Subsidiaries
      or Affiliates and/or any third party that has disclosed or provided any of same to the Company on a confidential basis (“Confidential Information”) without the prior written authorization of the Board.

    

    

    (ii)         “Confidential Information” shall not include any information that is (a) generally known to the industry or the public other than as a result of
      Participant’s breach of this covenant; (b) made legitimately available to Participant by a third party without breach of any confidentiality obligation of which Participant has knowledge; or (c) required by law to be disclosed; provided that
      with respect to subsection (c) Participant shall give prompt written notice to the Company of such requirement, disclose no more information than is so required, and reasonably cooperate with any attempts by the Company to obtain a protective order
      or similar treatment.

     

    

    
      
        

      18

    

    (iii)        Except as required by law, Participant will not disclose to anyone, other than Participant’s family (it being understood that, in this Agreement, the
      term “family” refers to Participant, Participant’s spouse, children, parents and spouse’s parents) and advisors, the existence or contents of this Agreement; provided that Participant may disclose to any prospective future employer the
      provisions of this Appendix A.  This Section 2(a)(iii) shall terminate if the Company publicly discloses a copy of this Agreement (or, if the Company publicly discloses summaries or excerpts of this Agreement) to the extent so disclosed.

    

    

    (iv)        Upon termination of Participant’s employment with the Company for any reason, Participant shall (x) cease and not thereafter commence use of any
      Confidential Information or intellectual property (including without limitation, any patent, invention, copyright, trade secret, trademark, trade name, logo, domain name or other source indicator) owned or used by the Company, its Subsidiaries or
      Affiliates and (y) immediately destroy, delete, or return to the Company, at the Company’s option, all originals and copies in any form or medium (including memoranda, books, papers, plans, computer files, letters and other data) in Participant’s
      possession or control (including any of the foregoing stored or located in Participant’s office, home, laptop or other computer, whether or not Company property) that contain Confidential Information, except that Participant may retain only those
      portions of any personal notes, notebooks and diaries that do not contain any Confidential Information.

    

    

    (b)           Intellectual Property.

    

    

    (i)          If Participant has created, invented, designed, developed, contributed to or improved any works of authorship, inventions, intellectual property,
      materials, documents or other work product (including without limitation, research, reports, software, databases, systems, applications, presentations, textual works, content, or audiovisual materials) (“Works”), either alone or with third
      parties, prior to Participant’s employment by the Company, that are relevant to or implicated by such employment (“Prior Works”), Participant hereby grants the Company a perpetual, non-exclusive, royalty-free, worldwide, assignable,
      sublicensable license under all rights and intellectual property rights (including rights under patent, industrial property, copyright, trademark, trade secret, unfair competition and related laws) therein for all purposes in connection with the
      Company’s current and future business.

    

    

    (ii)         If Participant creates, invents, designs, develops, contributes to or improves any Works, either alone or with third parties, at any time during
      Participant’s employment by the Company and within the scope of such employment and with the use of any Company resources (“Company Works”), Participant shall promptly and fully disclose same to the Company and hereby irrevocably assigns,
      transfers and conveys, to the maximum extent permitted by applicable law, all rights and intellectual property rights therein (including rights under patent, industrial property, copyright, trademark, trade secret, unfair competition and related
      laws) to the Company to the extent ownership of any such rights does not vest originally in the Company.

     

    

    
      
        

      19

    

    (iii)        Participant shall take all reasonably requested actions and execute all reasonably requested documents (including any licenses or assignments required
      by a government contract) at the Company’s expense (but without further remuneration) to assist the Company in validating, maintaining, protecting, enforcing, perfecting, recording, patenting or registering any of the Company’s rights in the Prior
      Works and Company Works.  If the Company is unable for any other reason, after reasonable attempt, to secure Participant’s signature on any document for this purpose, then Participant hereby irrevocably designates and appoints the Company and its
      duly authorized officers and agents as Participant’s agent and attorney in fact, to act for and in Participant’s behalf and stead to execute any documents and to do all other lawfully permitted acts required in connection with the foregoing.

    

    

    (iv)        Participant shall not improperly use for the benefit of, bring to any premises of, divulge, disclose, communicate, reveal, transfer or provide access
      to, or share with the Company any confidential, proprietary or non-public information or intellectual property relating to a former employer or other third party without the prior written permission of such third party.  Participant shall comply with
      all relevant policies and guidelines of the Company that are from time to time previously disclosed to Participant, including regarding the protection of Confidential Information and intellectual property and potential conflicts of interest. 
      Participant acknowledges that the Company may amend any such policies and guidelines from time to time, and that Participant remains at all times bound by their most current version from time to time previously disclosed to Participant.

    

    

    (v)         The provisions of Section 2 hereof shall survive the termination of Participant’s employment for any reason (except as otherwise set forth in Section
      2(a)(iii) hereof).

    

    

    
      
        

      20

    

    ADDENDUM

    

    

    COUNTRY-SPECIFIC PROVISIONS

    

    

    Terms and Conditions

    

    

    This Addendum includes additional terms and conditions that govern the Awards granted to the Participant under the Plan if the Participant works and/or resides in one of the countries listed below.  Capitalized terms used but not defined in this
      Addendum have the meanings set forth in the Plan and/or the Award Agreement.

    

    

    If the Participant is a citizen or resident of a country other than the one in which the Participant is currently working and/or residing, is considered a resident of another country for local law purposes or transfers employment and/or residency
      between countries after the Date of Grant, the Company shall, in its sole discretion, determine to what extent the terms and conditions contained herein apply to the Participant under these circumstances.

    

    

    Notifications

    

    

    This Addendum also includes information regarding securities laws, exchange controls and certain other issues of which the Participant should be aware with respect to the Participant’s participation in the Plan.  The information is based on the
      securities, exchange control and other laws in effect in the respective countries as of March 2020.  Such laws are often complex and change frequently.  As a result, the Company strongly recommends that the Participant not rely on the information
      noted herein as the only source of information relating to the consequences of the Participant’s participation in the Plan because the information may be out of date at the time the Options are exercised or the shares of Common Stock acquired under
      the Plan are sold.

    

    

    In addition, the information is general in nature and may not apply to the Participant’s particular situation, and the Company is not in a position to assure the Participant of any particular result.  Accordingly, the Participant should seek
      appropriate professional advice as to how the relevant laws in the Participant’s country may apply to his or her situation.

    

    

    Finally, if the Participant is a citizen or resident of a country other than the one in which the  Participant is currently working and/or residing, is considered a resident of another country for local law purposes or transfers employment and/or
      residency between countries after the Date of Grant, the information contained herein may not be applicable in the same manner to the Participant.

    

    

    
      
        

      21

    

    Australia

    

    

    Terms and Conditions

    

    

    Australia Offer Document.  The Options are intended to comply with the provisions of the Corporations Act 2001, Australia Securities and Investment
      Commission (“ASIC”) Regulatory Guide 49 and ASIC Class Order CO 14/1000.  Additional details are set forth in the Offer Document, which has been included as Exhibit A to this Addendum.

    

    

    Notifications

    

    

    Tax Information.  Subdivision 83A-C of the Income Tax Assessment Act 1997 applies to the Awards granted in accordance with the terms and conditions of the Grant Notice, the
      Plan and this Award Agreement (subject to the requirements of the Income Tax Assessment Act 1997).

    

    

    Exchange Control Information.  Exchange control reporting is required for cash transactions exceeding AUD 10,000 and international fund transfers.  If an
        Australian bank is assisting the Participant with the transaction, the bank will file the report on the Participant’s behalf.  If there is no Australian bank involved in the transfer, the Participant will be required to file the report.

    

    

    Belgium

    

    

    Terms and Conditions

    

    

    Acceptance of Option.  The timing of taxation of the Options depends on whether they are accepted (i) within 60 days of the offer (for taxation at offer) or (ii) more than 60 days after the offer (for
      taxation at exercise). The Participant should consult his or her personal tax advisor with respect to the Options before taking any action.

    

    

    Acknowledgement and Acceptance [within 120 days].  In addition to accepting the Options electronically, the Participant must sign and return the attached form regarding acceptance of the Options. 

    

    

    Notifications

    

    

    Foreign Asset/Account Reporting Information. Belgian residents are required to provide the National Bank of Belgium with the account details of any foreign
      accounts (including the account number, bank name and country in which any such account was opened). This report, as well as additional information on how to complete it, can be found on the website of the National Bank of Belgium, www.nbb.be, under
      the Kredietcentrales / Centrales des crédits caption. Belgian residents should consult with their personal advisors to determine their reporting obligations.

    

    

    Stock Exchange Tax.  A stock exchange tax applies to transactions executed by a Belgian resident through a financial intermediary, such as a bank or broker. If the transaction is conducted through a
      Belgian financial intermediary, it may withhold the stock exchange tax, but if the transaction is conducted through a non-Belgian financial intermediary, the Belgian resident may need to report and pay the stock exchange tax directly. The stock
      exchange tax likely will apply when shares of Common Stock acquired under the Plan are sold, including pursuant to a cashless sell-to-cover or cashless sell-all exercise of options.  Belgian residents should consult with a personal tax or financial
      advisor for additional details on their obligations with respect to the stock exchange tax.

    

    

    
      
        

      22

    

    2020 Stock Option Toekenning

    

    

    	
            Toekenningsdatum:

          	
            XX March, 2020

          
	
            Aanvaardingslimiet:

          	
            [+ 60 days]

          
	
            Annuleringsdatum:

          	
            [+120 days]

          
	
            1e
                uitoefendatum:

          	
            1 Januari, 2024

          

    

    

    Gelieve één optie aan te tikken:

    

    

    1.          AANVAARDING VAN AANDELENOPTIES BINNEN 60 DAGEN

    

    

     Ik aanvaard de toekenning van de aandelenopties (“stock options”) die me werden aangeboden op de toekenningsdatum.

    

    

    Ik begrijp en aanvaard dat ik - door het tekenen van dit formulier en het binnen 60 dagen na toekenning, ttz vóór of op de aanvaardingslimiet, aan Global
      Compensation (lucas.cramsey@gardnerdenver.com) te doen toekomen - Belgische loonbelasting(*) zal betalen op 23% van de waarde van de onderliggende aandelen op de datum van toekenning.

    

    

    OF:

    

    

    2.          AANVAARDING VAN AANDELENOPTIES BINNEN 60 DAGEN MET VERBINTENIS

    

    

    Ik aanvaard de toekenning van de aandelenopties (“stock options”) die me werden aangeboden op de toekenningsdatum.

    

    

    Ik begrijp en aanvaard dat ik - door het tekenen van dit formulier en het binnen 60 dagen na toekenning, ttz vóór of op de aanvaardingslimiet, aan Global
      Compensation (lucas.cramsey@gardnerdenver.com) te doen toekomen - Belgische loonbelasting(*) zal betalen met betrekking
      tot de aandelenopties op de datum van toekenning.

    

    

    Verder bevestig ik hierbij dat ik de aandelenopties niet zal uitoefenen vóór de 1e uitoefendatum noch de aandelenopties zal overdragen. Deze toezegging wordt gedaan, verwijzend naar artikel 43 van de wet van 26 Maart 1999, met
      het oog op het toepassen van een verminderde belastbare waarde van 11.5% van de waarde van de onderliggende aandelen op het moment van toekenning.

    

    

    OF:

    

    

    3.          AANVAARDING VAN AANDELENOPTIES BINNEN 61 - 120 DAGEN

    

    

    Ik bevestig een toekenning te hebben ontvangen van aandelenopties (“stock options”) die me werden aangeboden op de toekenningsdatum
      .

    

    

    Ik werd ervan op de hoogte gesteld dat indien ik de aanvaardingsbrief zou ondertekenen vóór of op de aanvaardingslimiet, ik met betrekking tot de
      aandelenopties belast zou worden op het moment van de toekenning en dit op basis van 23% of 11.5% van de waarde van de onderliggende aandelen, afhankelijk van mijn niet dan wel akkoord gaan om de aandelenopties niet uit te kunnen uitoefenen vóór de 1e uitoefendatum
      en mijn niet dan wel akkoord gaan om de aandelenopties niet te kunnen overdragen. Ik begrijp dat zelfs indien ik niet akkoord ga om de aandelenopties niet over te dragen overeenkomstig dit document, de aandelenopties onderworpen zjin aan enige andere
      overdrachtsbeperking uiteengezet in het Ingersoll Rand Inc. Amended and Restated Omnibus Incentive Plan van 2017.

     

    

    
      
        

      23

    

    Ik begrijp en aanvaard dat - door het tekenen van dit formulier en het aan Global Compensation (lucas.cramsey@gardnerdenver.com) te doen toekomen na de aanvaardingslimiet
      - het toegekende voordeel niet op het moment van toekenning belastbaar is, maar, krachtens de op het moment van toekenning in voege zijnde praktijk van de Belgische belastingautoriteiten, belastbaar wordt op het moment van uitoefening van de aandelenopties.(*) Het belastbaar
      voordeel zal berekend worden op basis van het verschil tussen de “Fair Market Value” van de aandelen op het moment van uitoefening en de uitoefenprijs.

    

    

    Ik begrijp en aanvaard dat indien ik dit formulier niet onderteken en terugbezorg aan Global Compensation vóór de Annuleringsdatum, de toekenning van
      aandelenopties kan worden geannuleerd.

    

    

    	 	
            Naam:

          	 
	 	 	 
	 	
            Handtekening:

          	 
	 	 	 
	 	 	
            Datum:

          

    

    

    (*) In alle drie gevallen zal het belastbaar voordeel worden belast aan uw
        marginale belastingvoet. De Vennootschap is van mening dat, onder de huidige wetgeving, feiten en omstandigheden, dit voordeel – op datum van dit schrijven - niet onderworpen is aan Belgische sociale zekerheidsbijdragen.

    

    

    De Vennootschap geeft géén belasting advies. U bent verantwoordelijk om zonodig onafhankelijk belasting advies in te winnen.

    

    

    
      
        

      24

    

    (FYI only: translation of official Dutch version)

     

    

    2020 Stock Option Award

    

    

    	
            Award Date:

          	
            March __, 2020

          
	
            Acceptance Limit:

          	
            [+ 60 days]

          
	
            Cancellation Date:

          	
            [+ 120 days]

          
	
            1st
                Exercise Date:

          	
            January 1, 2024

          

    

    

    Please tick ONE option

    

    

    1.          ACCEPTANCE OF STOCK OPTIONS WITHIN 60 DAYS

    

    

      I accept the award of Stock Options offered to me on
      the Award Date.

    

    

    I understand and accept that - as a result of signing this letter within 60 days of the Award Date, i.e., on or before the Acceptance Limit, and returning it to Global Compensation (lucas.cramsey@gardnerdenver.com)  - I will be subject to Belgian income tax(*) on 23% of the value of the Shares
        underlying my award at the time of grant.

    

    

    OR

    

    

    2.          ACCEPTANCE OF STOCK OPTIONS WITHIN 60 DAYS WITH UNDERTAKING

    

    

     I accept the award of Stock Options offered to me on the Award Date.

    

    

    I understand and accept that - as a result of signing this letter within 60 days of the Award Date, i.e., on or before the Acceptance Limit, and returning it to Global Compensation (lucas.cramsey@gardnerdenver.com)  - I will be subject to Belgian income tax(*) with respect to the Stock
        Options at the time of grant.

    

    

    I hereby confirm that I shall not exercise the Stock Options before the 1st Exercise Date nor transfer the Stock Options. This undertaking is made pursuant to article 43 of the Law of March 26, 1999, with a
      view to obtaining the reduced lump sum valuation percentage of 11.5% of the value of the Shares underlying my award at the time of grant.

    

    

    OR

    

    

    3.          ACCEPTANCE OF STOCK OPTIONS WITHIN 61 - 120 DAYS

    

    

     I confirm I have received an award of Stock Options offered to me on the Award Date.

    

    

    I have been informed that my signature of acceptance on or before the Acceptance Limit causes the award to be taxed at the time of grant,
      based on the 23% or 11.5% valuation depending on whether or not I agree that I will not exercise the Stock Options before the 1st Exercise Date and whether or not I agree
        that I will not transfer the Stock Options.  I understand that even if I do not agree that I will not transfer the Stock Options pursuant to this document, the Stock Options are subject to any other restriction on transfer set forth in the Ingersoll Rand Inc. 2017 Amended and Restated Omnibus Incentive Plan.

     

    

    
      
        

      25

    

    I understand and accept that, as a result of signing this letter and returning it to Global Compensation (lucas.cramsey@gardnerdenver.com)  after the Acceptance Limit, my award will not be taxed at grant.  In this case, the current practice of the Belgian tax authorities is to tax the Stock Options at exercise.(*)  The taxable amount will be based on the difference between the fair market value of the Shares at the time of exercise and the exercise price.

    

    

    I understand and accept that if I do not sign and return this letter to Global Compensation prior to the Cancellation Date, the award of Stock Options may be
      cancelled.

    

    

    	 	
            PLEASE SIGN THE DUTCH VERSION

          
	 	 
	 	
            English translation FYI only

          

    

    

    (*) In all three cases, the taxable benefit will be taxed at your marginal rate of income tax. The Company is of the
      opinion that, under the current legislation, facts and circumstances, this benefit is, at the time of this document, not subject to Belgian social security contributions.

    

    

    The Company does not provide tax advice.  You are responsible for seeking your own tax advice as appropriate.

    

    

    
      
        

      26

    

    Brazil

    

    

    Terms and Conditions

    

    

    Compliance with the Law.  In accepting the Awards, the Participant acknowledges his or her agreement to comply with applicable Brazilian laws and to pay any and all applicable
      Tax-Related Items associated with the exercise of the Option, the sale of shares of Common Stock acquired under the Plan or the receipt of dividends.

    

    

    Labor Law Acknowledgement.  In accepting the Awards, the Participant agrees that he or she is (i) making an investment decision, (ii) the Participant will be entitled to
      exercise the Options only if the vesting conditions are met, and (iii) the value of the underlying shares of Common Stock is not fixed and may increase or decrease in value without compensation to the Participant.

    

    

    Notifications

    

    

    Exchange Control Information.  If the Participant is a resident or domiciled in Brazil, he or she will be required to submit an annual declaration of assets and rights held
      outside of Brazil to the Central Bank of Brazil if the aggregate value of such assets and rights is equal to or greater than USD 100,000.  The assets and rights that must be reported include shares of Common Stock.

    

    

    Canada

    

    

    Terms and Conditions

    

    

    Form of Payment for Options. Due to legal restrictions in Canada, the Participant may not pay the Option Exercise Price or Tax-Related Items by surrendering shares of Common
      Stock that the Participant already owns or by attesting to the ownership of shares of Common Stock.

    

    

    Nature of Grant.  The following provision supplements Section 15(k) of the Award Agreement:

    

    

    Except as otherwise provided in the Grant Notice, the Participant will not earn, or be entitled to earn, any pro-rated vesting for that portion of time before the date on which the Participant’s right to vest
      terminates, nor will the Participant be entitled to any compensation for lost vesting. Notwithstanding the foregoing, if applicable employment standards legislation explicitly requires continued entitlement to vesting during a statutory notice
      period, the Participant’s right to vest in the Options under the Plan, if any, will terminate effective as of the last day of the Participant’s minimum statutory notice period, but the Participant will not earn or be entitled to pro-rated vesting if
      the vesting date falls after the end of the Participant’s statutory notice period, nor will the Participant be entitled to any compensation for lost vesting.

    

    

    
      
        

      27

    

    The following provisions will apply if the Participant is a resident of Québec:

    

    

    English Language Provision.  The parties acknowledge that it is their express wish that the present Award Agreement, as well as all documents, notices and legal proceedings
      entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English.

    

    

    Les parties reconnaissent avoir exigé la rédaction en anglais de la présente convention, ainsi que de tous documents, avis et procédures judiciaires, exécutés, donnés ou intentés en vertu de, ou liés
      directement ou indirectement à, la présente convention.

    

    

    Data Privacy.  This provision supplements Section 16 of the Award Agreement:

    

    

    The Participant hereby authorizes the Company and the Company’s representatives to discuss with and obtain all relevant information from all personnel, professional or not, involved in the administration and operation
        of the Plan.  The Participant further authorizes the Company, any related company and the administrator of the Plan to disclose and discuss the Plan with their advisors.  The Participant further authorizes the Company and any related company to
        record such information and to keep such information in the Participant’s employee file.

    

    

    Notifications

    

    

    Securities Law Information.  The Participant may not be permitted to sell within Canada the shares of Common Stock acquired under the Plan.  The Participant may only be permitted to sell shares of
      Common Stock acquired under the Plan through the designated broker appointed under the Plan, if any (or any other broker acceptable to the Company), provided the resale of shares of Common Stock acquired under the Plan takes place outside Canada
      through the facilities of a stock exchange on which the shares of Common Stock are listed.

    

    

    Foreign Asset/Account Reporting Information.  Specified foreign property including shares of Common Stock and rights to shares of Common Stock (e.g., Options)
      held by a Canadian resident employee must generally be reported annually on a Form T1135 (Foreign Income Verification Statement) if the total cost of his or her specified foreign property exceeds CAD 100,000 at any time during the year.  If
      applicable, Form T1135 is due by April 30th of the following year.  Options must be reported - generally at nil cost - if the CAD 100,000 cost threshold is exceeded because the Participant holds other specified foreign property. When shares of Common
      Stock are acquired, their cost generally is the adjusted cost base (“ACB”) of the shares of Common Stock.  The ACB would ordinarily equal the fair market value of the shares of Common Stock at the time of the acquisition, but if the
      Participant owns other shares of Common Stock, this ACB may have to be averaged with the ACB of the other shares of Common Stock.  The Participant should consult with a personal advisor to ensure that the Participant complies with the applicable
      requirements.

    

    

    China

    

    

    The following Terms and Conditions apply to Participants that are subject to the exchange control restrictions and regulations in the People’s Republic of China (“China”), including the requirements imposed by
      the State Administration of Foreign Exchange (“SAFE”), as determined by the Company in its sole discretion.

     

    

    
      
        

      28

    

    Terms and Conditions

    

    

    Satisfaction of Regulatory Obligations.  The settlement of the Awards upon exercise or vesting is conditioned upon the Company securing and
      maintaining all necessary approvals from SAFE and any other applicable government entities in China to permit the operation of the Plan in China, as determined by the Company it its sole discretion.  If or to the extent the Company is unable to
      complete the registration or maintain the registration, no shares of Common Stock shall be issued under the Plan.  In this case, the Company retains the discretion to settle any Awards in cash paid through local payroll in an amount equal to the Fair
      Market Value of the Shares subject to the Awards less any Tax-Related Items and the aggregate Exercise Price, if any.

    

    

    Form of Payment for Options.  To facilitate compliance with any applicable laws or regulations in China, the Participant will be required to pay the Exercise
      Price through the delivery of irrevocable instructions to a broker to sell all of the shares of Common Stock obtained upon exercise of the Option and to deliver promptly to the Company an amount out of the proceeds of such sale equal to the aggregate
      Exercise Price for the shares of Common Stock being purchased. The remaining proceeds of the sale of the shares of Common Stock, less any Tax-Related Items and broker’s fees or commissions, will be remitted to the Participant in accordance with any
      applicable exchange control laws and regulations. The Company reserves the right to allow additional forms of payment depending on the development of local law.

    

    

    Exercise and Vesting of Options Following Termination. Section 3 of the Award Agreement is deleted in its entirety and replaced with the following:

    

    

    In the event of Participant’s Termination (a) by the Company for Cause, all outstanding Options granted pursuant to the Grant Notice shall immediately terminate and expire; (b) due to death or Disability, each outstanding unvested Option granted
      pursuant to the Grant Notice (after taking into account any accelerated vesting described in the Vesting Schedule of the Grant Notice) shall immediately terminate and expire and each outstanding vested Option shall remain exercisable for five months
      thereafter (but in no event beyond the expiration of the Option Period); and (c) for any reason other than as set forth in this Section 3, each outstanding unvested Option granted pursuant to this Grant Notice (after taking into account any
      accelerated vesting described in the Vesting Schedule of the Grant Notice) shall immediately terminate and expire and each outstanding vested Option shall remain exercisable for 90 days thereafter (but in no event beyond the expiration of the Option
      Period).

    

    

    Exchange Control Restrictions.  The Participant understands and agrees that, pursuant to local exchange control requirements, he or she will be required to immediately repatriate the cash proceeds
      from the sale of shares of Common Stock and any cash dividends paid on such shares of Common Stock to China.  The Participant further understands that, under local law, such repatriation of cash proceeds may need to be effectuated through a special
      exchange control account established by the Company, the Service Recipient or any other Subsidiary, and the Participant hereby consents and agrees that any proceeds from the sale of shares of Common Stock or any cash dividends paid on such Shares may
      be transferred to such special account prior to being delivered to the Participant.

     

    

    
      
        

      29

    

    The proceeds may be paid to the Participant in U.S. dollars or local currency at the Company’s discretion.  In the event the proceeds are paid to the Participant in U.S. dollars, he or she understands that he or she will be required to set up a
      U.S. dollar bank account in China and provide the bank account details to the Service Recipient and/or the Company so that the proceeds may be deposited into this account.  If the proceeds are paid to the Participant in local currency, the Company is
      under no obligation to secure any particular exchange conversion rate and/or conversion date and the Company may face delays in converting the proceeds to local currency due to exchange control restrictions.  The Participant agrees to bear any
      currency fluctuation risk between the time the shares of Common Stock are sold or dividends are received and the time the proceeds are distributed through any such special exchange account.  The Participant further agrees to comply with any other
      requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.

    

    

    Notifications

    

    

    Exchange Control Information.  The Participant may be required to report to SAFE all details of the Participant’s foreign financial assets and liabilities, as well as details of any economic
      transactions conducted with non-PRC residents.

    

    

    Czech Republic

    

    

    Notifications

    

    

    Exchange Control Information.  The Czech National Bank may require the Participant to fulfill certain notification duties in relation to the shares of Common Stock acquired or any dividends paid on
      such shares, and the opening and maintenance of a foreign account.  However, because exchange control regulations change frequently and without notice, the Participant should consult his or her personal legal advisor prior to the exercise to ensure
      compliance with current regulations.  The Participant is solely responsible for ensuring compliance with exchange control laws in the Czech Republic.

    

    

    Denmark

    

    

    Notifications

    

    

    Foreign Asset/Account Reporting Information.  If the Participant establishes an account holding shares or cash outside of Denmark, the Participant must report the account to the Danish Tax
      Administration.  The form which should be used to make the report can be obtained from a local bank.

    

    

    Finland

    

    

    No country-specific provisions apply.

    

    

    
      
        

      30

    

    France

    

    

    Terms and Conditions

    

    

    Options Not Tax-Qualified.  The Options granted under this Award Agreement are not intended to qualify for special tax and social security treatment pursuant
      to Section L. 225-177 to L. 225-186-1 of the French Commercial Code, as amended.

    

    

    Language Consent.  In accepting the Award, the Participant confirms having read and understood the documents relating to the Award (the Plan and the Award
      Agreement including this Addendum), which were provided in English.  The Participant accepts the terms of these documents accordingly.

    

    

    En acceptant cette Attribution, le Participant confirme avoir lu et compris les documents relatifs à cette Attribution (le Plan et le Contrat d’Attribution incluant cette Annexe), qui ont été remis en langue anglaise.
      Le Participant accepte les termes de ces documents en conséquence.

    

    

    Notifications

    

    

    Foreign Asset/Account Reporting Information.  French residents holding cash or securities (including shares of Common Stock) outside of France or maintaining a foreign bank or brokerage account
      (including accounts opened or closed during the tax year) must declare such assets and accounts to the French tax authorities when filing an annual tax return. Failure to comply could trigger significant penalties.

    

    

    Germany

    

    

    Notifications

    

    

    Exchange Control Information.  Cross-border payments in excess of EUR 12,500 must be reported monthly to the German Federal Bank.  If the
      Participant receives a payment in excess of this amount, the Participant is responsible for electronically reporting to the German Federal Bank by the fifth day of the month following the month in which the payment occurs.  The form of report (Allgemeines Meldeportal Statistik) can be accessed via the German Federal Bank’s website (www.bundesbank.de) and is available in both German and English.

    

    

    Foreign Asset/Account Reporting Information.  If the Participant’s acquisition of shares of Common Stock acquired under the Plan leads to a so-called qualified participation at any point during the
      calendar year, the Participant may need to report the acquisition when he or she files a tax return for the relevant year. A qualified participation is attained if (i) the Participant owns !% or more of the Company and the value of the shares of
      Common Stock acquired exceeds €150,000 or (ii) the Participant holds shares of Common Stock exceeding 10% of the Company’s total Common Stock.

    

    

    Greece

    

    

    No country-specific provisions apply.

    

    

    
      
        

      31

    

    India

    

    

    Notifications

    

    

    Exchange Control Information.  The Participant understands that he or she must repatriate any proceeds from the sale of shares of Common Stock acquired
        under the Plan and any cash dividends to India and convert the proceeds into local currency within a reasonable time after receipt (i.e., 90 days from the sale of shares of Common Stock and 180 days from receipt of dividends, or within such
      time as prescribed under applicable Indian exchange control laws as may be amended from time to time).  The Participant will receive a foreign inward remittance certificate (“FIRC”) from the bank where the Participant deposits the foreign
      currency.  The Participant should retain the FIRC as evidence of the repatriation of funds in the event the Reserve Bank of India or the Service Recipient requests proof of repatriation.  It is the Participant’s responsibility to comply with
      applicable exchange control laws in India.

    

    

    Foreign Asset/Account Reporting Information.  The Participant is required to declare foreign bank accounts and any foreign financial assets (including
        shares of Common Stock acquired under the Plan) in the Participant’s annual tax return.  It is the Participant’s responsibility to comply with this reporting obligation and the Participant should confer with the Participant’s personal tax
      advisor in this regard.

    

    

    Ireland

    

    

    Notifications

    

    

    Director Notification Information.  If the Participant is a director, shadow director or secretary of an Irish Subsidiary and has a 1% or more shareholding
      interest in the Company, he or she must notify the Irish Subsidiary in writing upon receiving or disposing of an interest in the Company (e.g., Options, shares of Common Stock) or upon becoming aware of the
      event giving rise to the notification requirement, or upon becoming a director, shadow director or secretary if such an interest exists at that time.  This notification requirement also applies with respect to the interests of a spouse or minor child
      (whose interests will be attributed to the director, shadow director or secretary).

    

    

    Italy

    

    

    Terms and Conditions

    

    

    Plan Document Acknowledgement.  In accepting the Awards, the Participant acknowledges that he or she has received a copy of the Plan, the Grant Notice and this
      Award Agreement and has reviewed the Plan, the Grant Notice and this Award Agreement, in their entirety and fully understands and accepts all provisions of the Plan, the Grant Notice and this Award Agreement.

    

    

    The Participant further acknowledges that he or she has read and specifically and expressly approves the Grant Notice and the following sections of this Award Agreement: Section 1; Section 9; Section 13; Section 15; Section 17; Section 18; Section
      19; Section 20; and Section 26.

    

    

    
      
        

      32

    

    Notifications

    

    

    Foreign Asset/Account Reporting Information.  If the Participant is an Italian resident and holds investments or financial assets
        outside of Italy (e.g., cash, shares of Common Stock) during any fiscal year which may generate income taxable in Italy, the Participant is required to
        report such investments or assets on his or her annual tax return for such fiscal year (on UNICO Form, RW Schedule, or on a special form if the Participant is not required to file a tax return).  These reporting obligations will also apply to
        Italian residents who are the beneficial owners of foreign financial assets under Italian money laundering provisions.  The Participant should consult his or her personal advisor to ensure compliance with applicable reporting obligations.

    

    

    Foreign Asset Tax.  The value of financial assets held outside of Italy by individual residents of Italy is subject to a foreign
        asset tax.  The taxable amount will be the fair market value of the financial assets (e.g., shares of Common Stock) assessed at the end of the calendar
        year. The value of the financial assets held abroad must be reported in Form RM of the annual tax return.  The Participant should consult his or her personal tax advisor for additional information about the foreign financial assets tax.

    

    

    Japan

    

    

    Notifications

    

    

    Exchange Control Information.  If the Participant acquires shares of Common Stock valued at more than  JPY 100 million in a single transaction, the Participant must file a Securities Acquisition
      Report with the Ministry of Finance through the Bank of Japan within 20 days of the acquisition of such shares of Common Stock.

    

    

    In addition, if the Participant pays more than JPY 30 million in a single transaction for the purchase of shares of Common Stock upon exercise, the Participant must file a Payment Report with the Ministry of Finance through the Bank of Japan
      within 20 days of the date that the payment is made.  The precise reporting requirements vary depending on whether or not the relevant payment is made through a bank in Japan.

    

    

    Please note that a Payment Report is required independently from a Securities Acquisition Report. Therefore, the Participant must file both a Payment Report and Securities Acquisition Report if the total amount the Participant pays in a single
      transaction for exercising the Options and purchasing shares of Common Stock exceeds JPY 100 million.

    

    

    Foreign Asset/Account Reporting Information. Details of any assets held outside of Japan

    

    

    (including shares of Common Stock acquired under the Plan) must be reported to the tax

    

    

    authorities on an annual basis as of December 31, to the extent such assets have a total net fair

    

    

    market value exceeding JPY 50,000,000. Such report is due by March 15 each year. The Participant should consult with his or her personal tax advisor to determine if the reporting obligation applies to the Participant and whether the Participant
      will be required to include details of the Participant’s outstanding Options, as well as shares of Common Stock, in the report.

    

    

    
      
        

      33

    

    Netherlands

    

    

    No country-specific terms apply.

    

    

    Poland

    

    

    Notifications

    

    

    Foreign Asset/Account Reporting Information.  Polish residents holding foreign securities (e.g., shares of Common Stock) and/or maintaining accounts abroad must report information to the National Bank of Poland on transactions and balances of the securities and cash deposited
        into such accounts if the value of such securities and cash (when combined with all other assets possessed abroad) exceeds PLN 7 million.  If required, the reports must be filed on a quarterly basis on special forms that are available on the
        website of the National Bank of Poland. Polish residents should consult with their personal tax advisor to determine their personal reporting obligations.

    

    

    Exchange Control Information.  If a Polish resident transfers funds in excess of  EUR 15,000 (or PLN 15,000 if such transfer of funds is connected with the business activity of an entrepreneur) into
      Poland, the funds must be transferred via a Polish bank account or financial institution.  Polish residents are required to retain the documents connected with a foreign exchange transaction for a period of five years, as measured from the end of the
      year in which such transaction occurred.

    

    

    Singapore

    

    

    Terms and Conditions

    

    

    Sale Restriction.  Shares of Common Stock acquired under the Plan may not be sold or otherwise offered for sale in Singapore prior to the six-month anniversary
      of the Date of Grant, unless such sale or offer in Singapore is made pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the Securities and Futures Act (Chapter 289, 2006 Ed.) (“SFA”) or pursuant
      to, and in accordance with the conditions of, any other applicable provision(s) of the SFA.

    

    

    Notifications

    

    

    Securities Law Information.  The grant of the Awards is being made pursuant to the “Qualifying Person” exemption under section 273(1)(f) of the SFA and is not made with a view to the shares of Common
      Stock acquired under the Plan being subsequently offered for sale to any other party.  The Plan has not been, and will  not be, lodged or registered as a prospectus with the Monetary Authority of Singapore.

    

    

    
      
        

      34

    

    Chief Executive Officer and Director Notification Requirement.  Directors and the Chief Executive Officer (“CEO”) of a Singapore Subsidiary are subject to certain notification requirements
      under the Singapore Companies Act.  Directors and the CEO must notify the Singapore Subsidiary in writing of an interest (e.g., Options, shares of Common Stock, etc.) in the Company or any related companies
      within two business days of (i) its acquisition or disposal, (ii) any change in a previously disclosed interest (e.g., when the shares of Common Stock are sold), or (iii) becoming a director / CEO.

    

    

    South Africa

    

    

    Terms and Conditions

    

    

    Securities Law Information.  In compliance with South African securities laws, the Participant acknowledges that the documents listed below are available for
      the Participant’s review at the address listed below:

    

    

    	

          	(a)	
            the Company’s most recent annual financial statements: https://investors.irco.com/home/default.aspx

          

    

    

    	

          	(b)	
            the Company’s most recent Plan prospectus, which is available by logging into Ingersoll Rand Inc.’s equity plan portal at: NetBenefits.com;

          

    

    

    The Participant acknowledges that he or she may have a copy of the above documents sent to the Participant, without fee, on written request to Ingersoll Rand Inc., ATTN: Andrew Schiesl, General Counsel, 800-A Beaty Street, Davidson, NC 28036, USA.

    

    

    Responsibility for Taxes.  The following provision supplements Section 9 of the Award Agreement:

    

    

    By accepting the Award, the Participant agrees that, immediately upon exercise of the Option, the Participant will notify the Service Recipient of the amount of any gain realized.  If the Participant fails to advise the Service Recipient of the
      gain realized upon the taxable event, the Participant may be liable for a fine.  The Participant will be solely responsible for paying any difference between the actual tax liability and the amount withheld.

    

    

    Tax Clearance Certificate for Cash Exercise Options.  If the Participant exercises the Option using a cash exercise method, the Participant must obtain and provide to the Service Recipient or any
      third party designated by the Service Recipient or the Company, a Tax Clearance Certificate (with respect to Foreign Investments) bearing the official stamp and signature of the Exchange Control Department of the South African Revenue Service (“SARS”). 
      The Participant must renew this Tax Clearance Certificate every twelve months, or such other period as may be required by the SARS.  If the Participant exercises the Option by a cashless method whereby no funds are remitted out of South Africa, no
      Tax Clearance Certificate is required.

     

    

    
      
        

      35

    

    Notifications

     

    

    Exchange Control Information.  To participate in the Plan, the Participant must comply with exchange control regulations and rulings in South Africa.  Because
      the exchange control regulations are subject to change, the Participant  should consult his or her personal legal advisor prior to exercising the Option to ensure compliance with applicable exchange control regulations.  The Participant is
      responsible for ensuring compliance with all exchange control laws in South Africa.

    

    

    South Korea

    

    

    Notifications

    

    

    Exchange Control Information.  If the Participant remits funds out of Korea to pay the Exercise Price of the Option, the remittance of funds must be confirmed
      by a foreign exchange bank in Korea.  The Participant may be required to submit the following supporting documents evidencing the nature of the remittance to the bank together with the confirmation application (i) the Award Agreement, (ii) the Plan;
      and (iii) the Participant’s certificate of employment.  This confirmation is not necessary if the Participant pays the Exercise Price through the delivery of irrevocable instructions to a broker to sell the share of Common Stock obtained upon
      exercise of the Option and to deliver promptly to the Company an amount of the proceeds of such sale equal to the aggregate Exercise Price for the shares of Common Stock being purchased, because in this case there is no remittance of funds out of
      Korea.

    

    

    Foreign Asset/Account Reporting Information.  If the Participant is a Korean resident, the Participant must declare all of his or her foreign financial accounts (e.g., non-Korean bank accounts,
      brokerage accounts, etc.) to the Korean tax authority and file a report with respect to such accounts if the value of such accounts exceeds KRW 500 million (or an equivalent amount in foreign currency).  The Participant should consult with his or her
      personal tax advisor to determine the Participant’s personal reporting obligations.

    

    

    Spain

    

    

    Terms and Conditions

    

    

    Labor Law Acknowledgement.  In accepting the Awards, the Participant consents to participation in the Plan and acknowledges that the Participant has received a copy of the Plan.

    

    

    The Participant understands that the Company has unilaterally, gratuitously and in its own discretion decided to grant Awards under the Plan to certain individuals who may be employees of the Company or a Subsidiary throughout the world.  The
      decision is a limited decision that is entered into upon the express assumption and condition that any grant will not bind the Company or a Subsidiary, other than as set forth in this Award Agreement.  Consequently, the Participant understands that
      the Awards are granted on the assumption and condition that the Awards and any shares of Common Stock  acquired upon exercise of the Option are not a part of any employment contract (either with the Company or a Subsidiary) and shall not be
      considered a mandatory benefit, salary for any purposes (including severance compensation), or any other right whatsoever.  Further, the Participant understands that the Awards would not be granted to the Participant but for the assumptions and
      conditions referred to above; thus, the Participant acknowledges and freely accepts that should any or all of the assumptions be mistaken, or should any of the conditions not be met for any reason, any grant of or right to the Awards shall be null
      and void.

    

    

    
      
        

      36

    

    The Participant understands and agrees that, as a condition of the grant of the Awards, in the event of the Participant’s Termination for any reason other than the Participant’s death, Disability, Qualifying Termination or Approved Retirement as
      provided in the Grant Notice (including the reasons listed below) will automatically result in the loss of the Awards to the extent the Awards have not vested as of the date of the Participant’s Termination.  This will be the case, for example, even
      if (i) the Participant is considered to be unfairly dismissed without good cause (i.e., subject to a “despido improcedente”); (ii) the Participant is dismissed for
      disciplinary or objective reasons or due to a collective dismissal; (iii) the Participant terminates service due to a change of work location, duties or any other employment or contractual condition; (iv) the Participant terminates service due to a
      unilateral breach of the Participant’s contract by the Company or a Subsidiary; or (v) the Participant’s employment terminates for any other reason whatsoever.  Consequently, upon the Participant’s Termination for any of the above reasons, he or she
      may automatically lose any rights to the Awards that were not vested on the date of his or her Termination, as described in the Plan, the Grant Notice and this Award Agreement.

    

    

    Notifications

    

    

    Exchange Control Information. To participate in the Plan, the Participant must declare the acquisition and sale of shares of Common Stock to the Dirección General de
        Comercio e Inversiones (“DGCI”) for statistical purposes.  The Participant also must declare the ownership of any shares of Common Stock with the DGCI each January while the shares of Common Stock are owned, unless the amount of
      shares of Common Stock acquired or sold exceeds the applicable threshold (currently EUR 1,502,530), or the Participant holds 10% or more of the share capital of the Company or other such amount that would entitle the Participant to join the Board, in
      which case the filing is due within one month after the sale.

    

    

    In addition, the Participant may be required to electronically declare to the Bank of Spain any foreign accounts (including brokerage accounts held abroad), any foreign instruments (including shares of Common Stock acquired under the Plan), and
      any transactions with non-Spanish residents (including any payments for shares of Common Stock made pursuant to the Plan), depending on the balances in such accounts together with the value of such instruments as of December 31 of the relevant year,
      or the volume of transactions with non-Spanish residents during the relevant year.

    

    

    Securities Law Information.  No “offer of securities to the public,” as defined under Spanish law, has taken place or will take place in the Spanish territory
      in connection with the grant of the Award.  This Award Agreement has not been nor will it be registered with the Comisión Nacional del Mercado de Valores, and does not constitute a public offering prospectus.

    

    

    
      
        

      37

    

    Foreign Asset/Account Reporting Information.   To the extent that the Participant holds assets (e.g., cash or shares of Common Stock held in a bank or
      brokerage account) outside of Spain with a value in excess of EUR 50,000 per type of right or asset as of December 31 each year (or at any time during the year in which Participant sells or disposes of such asset), the Participant is required to
      report information on such assets on his or her tax return for such year.  After such assets are initially reported, the reporting obligation will only apply for subsequent years if the value of any previously-reported assets increases by more than
      EUR 20,000.  The Participant should consult with his or her personal tax advisor to ensure compliance with applicable reporting requirements.

    

    

    Sweden

    

    

    Terms and Conditions

    

    

    Responsibility for Taxes.  The following provision supplements Section 9 of the Award Agreement:

    

    

    Without limiting the Company’s and the Service Recipient’s authority to satisfy their withholding obligations for Tax-Related Items as set forth in Section 9 of the Award Agreement, in accepting the Options, the Participant authorizes the Company
      and/or the Service Recipient to sell or withhold shares of Common Stock otherwise deliverable to the Participant upon exercise to satisfy Tax-Related Items, regardless of whether the Company and/or the Service Recipient have an obligation to withhold
      such Tax-Related Items.

    

    

    Switzerland

    

    

    Notifications

    

    

    Securities Law Information.  Neither this document nor any other materials relating to the
      Options (i) constitutes a prospectus according to articles 35 et seq. of the Swiss Federal Act on Financial Services (“FinSA”), (ii) may be publicly distributed or otherwise made available in Switzerland to any person other than an employee of the
      Company, or (iii) has been or will be filed with, approved or supervised by any Swiss reviewing body according to article 51 of FinSA or any Swiss regulatory authority, including the Swiss Financial Market Supervisory Authority (FINMA).

    

    

    United Arab Emirates

    

    

    Notifications

    

    

    Securities Law Information.  The Awards granted under the Plan are being offered only to eligible employees of the Company, its
      Subsidiaries or the Service Recipient and is in the nature of providing equity incentives to eligible employees of the Company, its Subsidiaries or the Service Recipient.  Any documents related to the Awards, including the Plan, this Award Agreement
      and any other grant documents (“Award Documents”), are intended for distribution only to such eligible employees and must not be delivered to, or relied on by, any other person.

    

    

    The United Arab Emirates securities or financial/economic authorities have no responsibility for reviewing or verifying any Award Documents and have not approved the Award Documents nor taken steps to verify the information
      set out in them, and thus, are not responsible for their content.

     

    

    
      
        

      38

    

    The Participant is aware that he or she should, as a prospective stockholder, conduct his or her own due diligence on the securities. The Participant acknowledges that if he or she does not understand the contents of the
      Award Documents, the Participant should consult an authorized financial advisor.

    

    

    United Kingdom

    

    

    Terms and Conditions

    

    

    Responsibility for Taxes.  The following provision supplements Section 9 of the Award Agreement:

    

    

    The Participant agrees to be liable for any Tax-Related Items and hereby covenants to pay any such Tax-Related Items, as and when requested by the Company or, if different, the Service Recipient or by Her Majesty’s Revenue & Customs (“HMRC”)
      (or any other tax or relevant authority).  The Participant also agrees to indemnify and keep indemnified the Company and, if different, the Service Recipient against any Tax-Related Items that they are required to pay or withhold or have paid or will
      pay to HMRC (or any other tax or relevant authority) on the Participant’s behalf.

    

    

    Notwithstanding the foregoing, if the Participant is a director or executive officer (within the meaning of Section 13(k) of the Exchange Act), the terms of the immediately foregoing provision will not apply.  In such case, if the amount of any
      income tax due is not collected from or paid by the Participant within 90 days of the end of the U.K. tax year in which an event giving rise to the indemnification described above occurs, the amount of any uncollected income tax may constitute an
      additional benefit to the Participant on which additional income tax and National Insurance Contributions (“NICs”) may be payable   The Participant acknowledges that the Company or the Service Recipient may recover any such additional income
      tax and national insurance contributions at any time thereafter by any of the means referred to in the Award Agreement.  However, the Participant is primarily responsible for reporting and paying any income tax due on this additional benefit directly
      to HMRC under the self-assessment regime.

    

    

    
      
        

      39

    

    EXHIBIT A

    

    

    OFFER DOCUMENT

    

    

    INGERSOLL RAND INC.

    AMENDED AND RESTATED 2017 OMNIBUS INCENTIVE PLAN

    

    

    OFFER OF OPTIONS 

    TO AUSTRALIAN RESIDENT EMPLOYEES

    

    

    Ingersoll Rand Inc. (the “Company”) is pleased to provide you with this offer to participate in its Amended and Restated 2017 Omnibus Incentive Plan (the “Plan”).  This offer sets out information regarding the grant of Options
      (“Awards”) to Australian resident employees of the Company and any Subsidiary.  This Offer Document is provided by the Company to ensure compliance of the Plan with the Australian Securities and Investments Commission’s (“ASIC”) Class Order
      14/1000 and relevant provisions of the Corporations Act 2001.

    

    

    Capitalized terms used but not defined herein shall have the meaning provided in the Plan.

    

    

    You are being provided with copies of and/or access to the following documents:

    

    

    	(a)	
            Option Grant Notice;

          

    

    

    	(b)	
            Award summary including award details: date of grant, number of shares granted, and specific details of vesting dates and %’s ;

          

    

    

    	(c)	
            the Global Award Agreement and the addendum attached thereto (the “Agreement”);

          

    

    

    	(d)	
            the Plan;

          

    

    

    	(e)	
            The Plan Prospectus  (the “Prospectus”)

          

    

    

    (collectively, the “Additional Documents”)

    

    

    The Additional Documents provide further information to help you make an informed investment decision about participating in the Plan.  Neither the Plan nor the Prospectus is a prospectus for the purposes of the Corporations
        Act 2001.

    

    

    You should not rely upon any oral statements made in relation to this offer.  You should rely only upon the statements contained in the Agreement and the Additional Documents when considering participation in the Plan.

    

    

    
      
        

      40

    

    
      General Information

    

     

        

    Securities Law Notification.  Investment in shares of Common Stock involves a degree of risk.  Participants who elect to participate in the Plan should monitor their participation and consider all
      risk factors relevant to the acquisition of shares of Common Stock under the Plan as set out in the Agreement and the Additional Documents.

    

    

    The information contained in this offer is general information only.  It is not advice or information that takes into account your objectives, financial situation and needs.

    

    

    You should consider obtaining your own financial product advice from an independent person who is licensed by ASIC to give advice about participation in the Plan.

    

    

    Additional Risk Factors for Australian Residents.  You should have regard to risk factors relevant to investment in securities generally and, in particular, to the holding of shares of Common Stock. 
      For example, the price at which the shares of Common Stock are quoted on the New York Stock Exchange may increase or decrease due to a number of factors.  There is no guarantee that the price of the shares of Common Stock will increase.  Factors that
      may affect the price of the shares of Common Stock include fluctuations in the domestic and international market for listed stocks, general economic conditions, including interest rates, inflation rates, commodity and oil prices, changes to
      government fiscal, monetary or regulatory policies, legislation or regulation, the nature of the markets in which the Company operates and general operational and business risks.

    

    

    More information about potential factors that could affect the Company’s business and financial results is included in the Company’s Quarterly Report on Form 10-Q and the Company’s Annual Report on Form 10-K.  Copies of these reports are available
      at http://www.sec.gov/, on the Company’s “Investor Relations” page at https://investors.irco.com/home/default.aspx,
      and upon request to the Company.

    

    

    In addition, you should be aware that the Australian dollar value of any shares of Common Stock acquired at vesting and/or exercise will be affected by the U.S. dollar/Australian dollar exchange rate.  Participation in the Plan involves certain
      risks related to fluctuations in this rate of exchange.

    

    

    Common Stock.  Common stock of a U.S. corporation is analogous to ordinary shares of an Australian corporation.  Each holder of the Company’s Common Stock is entitled to one vote for every share of
      Common Stock.

    

    

    Dividends may be paid on the shares of Common Stock out of any funds of the Company legally available for dividends at the discretion of the Board.

    

    

    The shares of Common Stock are traded on the New York Stock Exchange (“NYSE”) in the United States of America under the symbol “IR”.

    

    

    The shares of Common Stock are not liable to any further calls for payment of capital or for other assessment by the Company and have no sinking fund provisions, pre-emptive rights, conversion rights or redemption provisions.

     

    

    
      
        

      41

    

    Ascertaining the Market Price of Shares.  You may ascertain the current market price of the shares of Common Stock as traded on the NYSE under the symbol “IR” at https://www.nyse.com/.  
        The Australian dollar equivalent of that price can be obtained at: http://www.rba.gov.au/statistics/frequency/exchange-rates.html.

    

    

    This will not be a prediction of what the market price per share of Common Stock will be when you exercise your Options.

    

    

    Tax Notification

    

    

    The following is a summary of the tax consequences as of March 2020 for an Australian resident Participant who receives Options under the Plan.  This summary is necessarily general in nature and does not
      purport to be tax advice in relation to an actual or potential recipient of Awards.

    

    

    If you are a citizen or resident of another country or are considered a citizen or resident of another country for local law purposes, or transfer employment and/or residence after you are granted Awards, the information contained in this summary
      may not be applicable to you.

    

    

    If you intend to accept Awards under the Plan, then you should not rely on the summary as anything other than a broad guide and you should seek appropriate professional advice as to how the tax or other laws in Australia and in any other
      applicable country apply to your specific situation before making the decision to accept.

    

    

    
      Taxation of the Awards

    

     

    

    	1.	
            Australian Tax Consequences

          

    

    

    	

          	(a)	
            What is the effect of the grant of the Awards?

          

    

    

    The Australian tax legislation contains specific rules, in Subdivision 83A-C of the Income Tax Assessment Act 1997,
      governing the taxation of shares and rights (called “ESS interests”) acquired by employees under employee share schemes.  The Awards granted under the Plan should be regarded as a right to acquire shares and accordingly, an ESS interest for
      these purposes.

    

    

    Your assessable income includes the “discount” given in relation to the acquisition of the ESS interest at grant, unless the ESS interest is either subject to a real risk of forfeiture, or you
      are genuinely restricted from immediately disposing of the ESS interest and there is a statement in the grant materials that deferral is to apply, in which case you will be subject to deferred taxation.

    

    

    The terms of your Awards are set out in the Plan and the Agreement.  Your Awards are non-transferable and the Agreement contains a statement that tax deferral is to apply.  Accordingly, you will be subject to deferred
      taxation (i.e., you generally should not be subject to tax when the Awards are granted to you).

     

    

    
      You will be required to include an amount in your assessable income for the income year in which the earliest of the following events occurs in relation to your Awards (the “ESS deferred taxing point”):

       

      

    

    
      
        

      42

    

    (i)             there are both no longer any genuine restrictions on the vesting of the Awards, or the underlying shares of Common Stock being disposed of, and there is no real risk of you forfeiting the Awards or
      underlying shares of Common Stock;

    

    

    (ii)            you cease relevant employment (i.e., when you are no longer employed by the Company, your employer, or any member of the Company Group) to the extent you retain
      the Awards; or

     

    

    (iii)          15 years from when the Awards were granted.

    

    

    Generally, this means you will be subject to tax when the Awards are settled upon vesting or exercise, as applicable, and the shares of Common Stock are no longer subject to any genuine restrictions on disposal. 
      However, the ESS deferred taxing point for the Awards will be moved to the time you sell the underlying shares of Common Stock if you sell the underlying shares of Common Stock within 30 days of the original ESS deferred taxing point.

    

    

    	

          	(b)	
            What is the amount that I must include in my assessable income if an ESS deferred taxing point occurs?

          

    

    

    The amount you must include in your assessable income in the income year (i.e., the financial year ending 30 June) in which the ESS deferred taxing point
      occurs in relation to the Awards will be the difference between the “market value” of the underlying shares of Common Stock at the ESS deferred taxing point and the cost base of the Awards (which should be the exercise price paid to acquire the
      underlying shares of Common Stock for Options).

    

    

    If, however, you sell the underlying shares of Common Stock in an arm’s length transaction within 30 days of the ESS deferred taxing point (i.e.,
      typically within 30 days of vesting or exercise, as applicable), the amount to be included in your assessable income in the income year in which the sale occurs will be equal to the difference between the sale proceeds and the cost base of the Awards
      (which should include any incremental costs you incur in connection with the sale, e.g., brokerage fees).

    

    

    	

          	(c)	
            What is the market value of the underlying shares of Common Stock?

          

    

    

    The “market value” of the underlying shares of Common Stock at the ESS deferred taxing point is determined according to the ordinary meaning of “market value” expressed in Australian currency. 
      The Company will determine the market value in accordance with guidelines prepared by the Australian Tax Office.

    

    

    The Company has the obligation to provide you with certain information about your participation in the Plan at certain times, including after the end of the income year in which the ESS deferred taxing point occurs. 
      This may assist you in determining the market value of the underlying shares of Common Stock at the ESS deferred taxing point.  However, this estimate may not be correct if you sell the shares of Common Stock within 30 days of the acquisition date,
      in which case it is your responsibility to report and pay the appropriate amount of tax based on the sale proceeds.

     

    

    
      
        

      43

    

    	

          	(d)	
            What happens if I cease employment before my Awards vest?

          

    

    

    If you cease employment with the Company or any Subsidiary prior to the vesting date of some or all of the Awards and the Awards are forfeited, you may be treated as if you never acquired the
      forfeited Awards, in which case no amount will be included in your assessable income.

    

    

    	

          	(e)	
            What tax consequences will apply when I sell my shares of Common Stock?

          

    

    

    You may also be subject to capital gains tax when you subsequently sell the shares of Common Stock (other than gains realized on the disposal of shares of Common Stock within 30 days after the original ESS deferred
      taxing point, in which case your treatment will be limited to the income tax consequences described above in paragraph 1(b)).

    

    

    Provided you dispose of the shares of Common Stock in an arm’s length transaction,2 you will be subject to capital gains tax to the
      extent that the sale proceeds exceed your cost base in the shares of Common Stock sold.  Your cost base in the shares of Common Stock will generally be equal to the market value of the shares of Common Stock at the ESS deferred taxing point (which
      will usually be the date you acquired the shares) plus any incremental costs you incur in connection with the sale (e.g., brokerage fees).

    

    

    The amount of any capital gain you realize must be included in your assessable income for the year in which the shares of Common Stock are sold.  However, if you hold the shares of Common Stock for at least one year
      prior to selling (excluding the dates you acquired and sold the shares of Common Stock), you may be able to apply a discount to the amount of capital gain that you are required to include in your assessable income.  If this discount is available, you
      may calculate the amount of capital gain to be included in your assessable income by first subtracting all available capital losses from your capital gains and then multiplying each capital gain by the discount percentage of 50%.

    

    

    If the sale proceeds are lower than your cost base in the shares of Common Stock sold (assuming the sale occurred in an arm’s length transaction), you will realize a capital loss.  Capital losses may be used to offset
      capital gains realized in the current tax year or in any subsequent tax year, but may not be used to offset other types of income (e.g., salary or wage income).

    

    

    	

          	(f)	
            What are the tax consequences if a dividend is paid on the shares?

          

    

    

    If you continue to hold the shares of Common Stock, you may be entitled to receive dividends on the shares of Common Stock if the Board, in its discretion, declares a dividend.  Any dividends paid on shares of Common
      Stock must be included in your assessable income in the tax year they are received.  The dividends are also subject to U.S. federal withholding tax at source.  You may be entitled to a foreign tax offset against your Australian income tax for the
      U.S. federal income tax withheld on any dividends.

    

    

    
      	
              2

            	
              If you sell your shares on the NYSE, this will generally be considered an arm’s length transaction.

            

    

     

    
      
        

      44

    

    	

          	(g)	
            What are the tax withholding and reporting obligations in relation to any income that I may realize pursuant to my participation in the Plan?

          

    

    

    You will be responsible for reporting any income attributable to your Awards in your tax return and paying any tax liability.  It is also your responsibility to report and pay any Australian
      tax liability on any dividends received and/or any capital gains arising from the disposal of the shares of Common Stock that you acquire under the Plan.

    

    

    Your employer will be required to withhold the tax due at the ESS deferred taxing point only if you have not provided your Tax File Number or Australian Business Number (as applicable) to your
      employer.

    

    

    However, the Company must provide to you (generally, by no later than 14 July after the end of the income year) and the Commissioner of Taxation (generally, by no later than 14 August after the
      end of the income year) a statement containing certain information about your participation in the Plan in the income year in which the original ESS deferred taxing point occurs (typically, the year you acquire the shares), including an estimate of
      the market value of the underlying shares of Common Stock at the taxing point.  Please note that, if you sell the shares of Common Stock within 30 days of acquisition, your taxing point will not be at acquisition; as such, the amount reported by your
      employer may differ from your actual taxable amount (which would be based on the value of the shares of Common Stock when sold, not the acquisition date).  It is your responsibility to ensure that you complete your
        tax return properly.

    

    

    	2.	
            United States Tax Consequences

          

    

    

    

    

    Participants (who are not U.S. citizens or permanent residents) will not be subject to U.S. tax by reason only of the grant and vesting of the Awards, the acquisition of the shares of Common Stock or the sale of shares of Common Stock, except as
      described in the dividends section above.  However, liability for U.S. taxes may accrue if a Participant is otherwise subject to U.S. taxes.

    

    

    The above is an indication only of the likely U.S. taxation consequences for Australian resident Participants granted Awards under the Plan.  Participants should seek their own advice as to the U.S. taxation consequences of Plan participation.Exhibit 10.6

  

SEPARATION AND SETTLEMENT AGREEMENT

 

BY AND BETWEEN

 

RELMADA THERAPEUTICS, INC.

 

AND

 

Ottavio
Vitolo, M.D.

  

This Separation and
Settlement Agreement (“Agreement”), dated as of April 1, 2020 (the “Effective Date”), is made by and between
Relmada Therapeutics, Inc., a Nevada company (“Relmada” or the “Company”), and Ottavio Vitolo, M.D. (“Employee”).

 

WHEREAS, Employee was
employed by the Company pursuant to the terms of an employment agreement effective March 28, 2018 (the “Employment Agreement”)
and Confidential Information and Invention Assignment Agreement, dated April 1, 2018 (the “Confidentiality Agreement”);
and

 

WHEREAS, Employee commenced
employment with Relmada on April 2, 2018 (the “Start Date”); and

 

WHEREAS, Employee and
the Company have mutually agreed that Employee’s employment with the Company terminated effective March 6, 2020 (the “Separation
Date”); and

 

WHEREAS, the Company
and Employee wish to memorialize the terms of Employee’s departure from the Company and each of Employee and the Company’s
rights and responsibilities in connection with his departure; and

 

WHEREAS, Employee has
agreed to release the Company and the Company has agreed to release Employee from any claims.

 

NOW, THEREFORE, in
consideration of the mutual promises made herein, the Company and Employee (collectively referred to as the “Parties”)
hereby agree as follows:

 

1.
Termination of Employment and Directorship. Employee's last day of employment will be March 6, 2020.

 

2. Separation
Payments. Pursuant to the satisfactory transition of all information and material requested by the Company, the Company agrees
to the following:

 

		A.	The Company shall pay Employee $200,000, without any tax withholdings or other deductions (the
“Separation Payment”). The Separation Payment shall be delivered to Employee at this home address (71 Westland Avenue,
Newton, MA 02465) in a manner to ensure that it is received by Employee within 8 calendar days of the execution of this Agreement
by both Parties. Company shall issue to Employee a Form-1099 for the Separation Payment in the ordinary course of its business.
The Company shall also pay Employee $10,000 for attorney’s fees in connection with this matter.

  

    1

     

    

 

		B.	The Company shall also pay to Employee accrued salary of $6,557.40 through March 6, 2020, including
any March contributions to the 401k plan, and unused vacation days totaling $28,415.40; each payable on the next scheduled pay
period.

 

		C.	If the Employee timely and properly elects COBRA continuation coverage under the Company’s
group health plan, the Employee shall only be required to pay active employee rates, as in effect from time to time, until September
6, 2020. At the conclusion of this period, the Employee shall be eligible to continue his coverage, pursuant to COBRA, and shall
be responsible for the entire COBRA premium for the remainder of the applicable COBRA continuation period.

 

		D.	Employee’s options granted under the Company’s 2014 Stock Option and Equity Incentive
Plan shall continue to vest until September 6, 2020. Employee shall have until March 6, 2021 to exercise his vested options and
Employee shall be allowed to use a cashless exercise provision to exercise his vested options. Subject to federal securities laws,
Employee shall be free of any restrictions preventing him from exercising and selling his vested options as of the eighth day following
the execution of this Agreement.

 

		E.	The Company shall include Employee’s name in the upcoming planned scientific publication
in connection with the Company’s completed Phase II trial for REL-1017.

 

3. Separation,
Payments, Benefits and Related Matters.

 

(a) The
Parties agree that, except as provided in this Agreement, there are no further sums or benefits due or owing to Employee pursuant
to this Agreement or any prior employment agreement, amendment to such agreement, or any other legal or contractual obligation.

 

(b) The
Parties agree that, except for the Confidentiality Agreement, which shall remain in full force and effect, any other agreements
shall be of no further effect as of the date of this Agreement (other than Employee’s post-termination obligations under
Section 8 of the Employment Agreement, which shall remain in full force and effect).

 

4. Release
of Claims. In consideration for the obligations of the Company set forth in this Agreement, Employee, on behalf of himself,
and his respective heirs, executors, officers, directors, shareholders, employees, agents and consultants, investors, stockholders,
administrators and assigns, as may be applicable, hereby fully and forever release the Company and its respective heirs, executors,
officers, directors, employees, agents, investors, stockholders, administrators, parent, subsidiary and affiliate companies, predecessor
and successor companies and assigns, of and from any claim, duty, obligation or cause of action relating to any matters of any
kind that any of them may possess arising from any omissions, acts or facts that have occurred from the beginning of time up until
and including the date of this Agreement including, without limitation:

 

(a) any
and all claims relating to or arising from Employee’s employment relationship with the Company and the termination of those
relationships, including, without limitation Employee’s rights to salary and benefits except as provided herein;

  

    2

     

    

 

(b) any
and all claims for wrongful discharge of employment; breach of contract, both express and implied; breach of a covenant of good
faith and fair dealing, both express and implied, negligent or intentional infliction of emotional distress; negligent or intentional
misrepresentation; negligent or intentional interference with contract or prospective economic advantage; negligence; and defamation;

 

(c) any
and all claims for violation of any federal, state or municipal statute, including, but not limited to, Title VII of the Civil
Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967, and the Americans with Disabilities
Act of 1990, the Older Workers Benefits Protection Act of 1990, the Americans with Disabilities Act, the Family and Medical Leave
Act, and all other federal, state and local laws dealing with discrimination on any basis, including but not limited to sex, race,
national origin, veteran status, religion, disability and age. This Agreement also includes any claim of wrongful termination,
based on any legal theory including but not limited to contract and personal injury;

 

(d) any
and all claims arising out of any other laws and regulations relating to employment or employment discrimination; and

 

(e) any
and all claims for attorneys’ fees and costs.

 

The Company and Employee
agree that the release set forth in this Paragraph 4 shall be and remain in effect in all respects as a complete general release
as to the matters released. This release does not extend to any payments or benefits receivable, or obligations incurred or specified
under this Agreement.

 

5.
Company Release. In consideration for the obligations of the Employee set forth in this Agreement, the Company, on behalf
of itself and its officers and directors hereby fully and forever release the Employee and his heirs, executors, agents, and assigns,
of and from any claim, duty, obligation or cause of action relating to any matters of any kind that any of them may possess arising
from any omissions, acts or facts that have occurred from the beginning of time up until and including the date of this Agreement.
The foregoing will not be deemed to release Employee from claims arising from acts or omissions by Employee that would constitute
fraud, violations of law, or a felony.

  

    3

     

    

 

6. Covenants.

    

(a) Future
Acts. Employee agrees and covenants that (i) he shall not divulge to any person or entity other than the Company, including
its directors, officers, employees, and agents, without express written authorization of the CEO, any proprietary or confidential
information, whether written or oral, received or gained by him in the course of his employment by the Company or of his duties
with the Company (“Confidential Information”), nor shall he make use of any such Confidential Information on his own
behalf or on behalf of any other person or entity, for so long as such Confidential Information is not known to the general public;
(ii) he has or shall return or cause to be returned to the Company any and all property of the Company of any kind or description
whatsoever, including, but not limited to: (1) any Confidential Information, which has been furnished to him or is held by him,
at his residence or elsewhere, and shall not retain any copies, duplicates, reproductions or excerpts thereof; and (2) all personal
property belonging to the Company, such as, without limitation, Company records, records pertaining to projects that the Company
is or may become involved in, laptop computer, desktop computer and any peripheral items used for such equipment. Employee understands
and agrees that his obligations to the Company under this paragraph survive the termination of his relationship with the Company
under this Agreement; and (iii) that he has vacated or will vacate his office at the Company immediately, and shall return to the
Company premises only upon prior written consent of the CEO or his or her designee. For the avoidance of doubt, counsel for the
Parties may retain a copy of any Company correspondence or documents in counsel’s possession, and in any subsequent dispute
between the Parties such documents be accessed by the Parties.

 

(b) Confidentiality
of this Agreement. The Parties each agree to use their best efforts to maintain in confidence the existence of this Agreement,
the contents and terms of this Agreement, and the consideration for this Agreement (hereinafter collectively referred to as “Separation
Information”). Each Party hereto agrees to take every reasonable precaution to prevent disclosure of any Separation Information
to third parties, except as may be disclosed in a mutually agreed upon press release and except for disclosures required by law
or necessary to effectuate the terms of this Agreement. The Parties agree to take every precaution to disclose Separation Information
only to those employees, officers, directors, attorneys, accountants, financial advisors, prospective employers of Employee, governmental
entities and family members who have a reasonable need to know of such Separation Information. Employee acknowledges that the Company
has certain disclosure obligations that may supersede this Agreement.

 

(c) Nonsolicitation.
Employee agrees that for one year he will not either directly or indirectly solicit, induce, recruit or encourage any of the Company’s
officers or employees to terminate their relationship with the Company, or attempt to solicit, induce, recruit or encourage officers,
employees or of the Company, either for his own benefit or for the benefit of any other person or entity. Further, Employee agrees
that he will not use any confidential or proprietary information of the Company to attempt to negatively influence any of the Company’s
employees from remaining in the Company or to solicit or influence or attempt to solicit or influence any employee either directly
or indirectly, to join another Company, institution or other entity in competition with the business of the Company. Employee agrees
that he will be able to earn a livelihood without violating the restrictions set forth in this Paragraph 6(c). Further, for a period
of one year from the date of this Agreement, he shall not attempt to negatively influence any of the Company’s client’s
or customers from purchasing Company products or services or to solicit or influence any client, customer or other person either
directly or indirectly, to direct his or its purchase of products and/or services to any person, firm, corporation, institution
or other entity in competition with the business of the Company. Employee agrees that the character and duration of this Paragraph
6(c) are reasonable in light of the circumstances as they exist on the date of this Agreement.

  

    4

     

    

 

7. Non-Disparagement.
Responses to Inquiries. Except (X) when required to do so by a lawful order of a court of competent jurisdiction, any governmental
authority or agency, or any recognized subpoena power or (Y) as necessary to prosecute his rights against the Company under this
Agreement, Employee agrees (i) to refrain, and to cause any person acting on his behalf to refrain from any knowing disparagement
or defamation of the Company or its officers, directors, employees, or agents, or tortious interference with the contracts and
relationships of the Company and (ii) that he will respond to any inquiries from any third party that he "left to pursue other
business interests, enjoyed the opportunity to contribute to the Company and wishes the Company the best of luck in its future
endeavors." Except (X) when required to do so by a lawful order of a court of competent jurisdiction, any governmental authority
or agency, or any recognized subpoena power or (Y) as necessary to prosecute its rights against the Employee under this Agreement,
the Company agrees (i) to refrain from, and to cause any person acting on its behalf to refrain from any knowing disparagement
or defamation of Employee, or tortious interference with the contracts and relationships of Employee and (ii) that it will respond
to any inquiries from third parties regarding Employee's departure from the Company with a statement that "Employee has left
the Company to pursue other business interests. The Company is grateful for his contributions to the Company and wishes him the
best of luck in his future endeavors."

 

8. Breach
of this Agreement. The Parties acknowledge that upon material breach of any provision of this Agreement by Employee of the
Company, the Company or Employee, as the case may be, would sustain irreparable harm from such breach, and therefore, Employee
and Company hereby mutually represent, warrant and covenant that they have not violated and will not violate any of the terms or
provisions contained herein. Employee and the Company also mutually agree that in addition to any other remedies which they may
have for any material breach of this Agreement or otherwise, the Company or the Employee, as the case may be, shall be entitled
to obtain equitable relief including specific performance and injunctions restraining Employee or the Company, as the case may
be, from committing or continuing any such violation of this Agreement.

 

9. No
Admission. The parties acknowledge and agree that this Agreement does not constitute and should not be construed in any way
as an admission by any other party of (a) any wrongdoing or liability whatsoever, (b) any violation of the Employee’s or
the Company’s rights or those of any other person, or (c) any violation of any order, law, statute, duty or contract. The
Company specifically disclaims any liability for any alleged wrongdoing or liability, for any alleged violation of Employee’s
rights or those of any other person, or for any alleged violation of any order, law, statute, duty, or contract and Employee specifically
disclaims any liability for any alleged wrongdoing or liability, for any alleged violation of the Company’s rights or those
of any other person, or for any alleged violation of any order, law, statute, duty, or contract.

 

10. Authority.
The Company represents and warrants that the undersigned has the authority to act on behalf of the Company and to bind the Company
and all who may claim through it to the terms and conditions of this Agreement. Employee represents and warrants that he fully
understands the provisions contained in this agreement and that he has the capacity to act on his own behalf and on behalf of all
who might claim through him to bind them to the terms and conditions of this Agreement.

 

11. No
Representations. Neither Party has relied upon any representations or statements made by the other Party hereto which are not
specifically set forth in this Agreement.

  

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12. Severability.
In the event any provision hereof becomes or is declared by a court or other tribunal of competent jurisdiction to be illegal,
unenforceable or void, this Agreement shall continue in full force and effect without said provision.

 

13. Arbitration/Attorneys
Fees. The Parties agree that Sections 10 and 14 of the Employment Agreement shall govern any disputes regarding this Agreement.

 

14.  Successors.
This Agreement shall inure to the benefit of and be enforceable by Employee's heirs and beneficiaries. This Agreement shall inure
to the benefit of and be binding upon the Company and its respective successors, purchasers and assigns.

 

15. Entire
Agreement. This Agreement represents the entire agreement and understanding between the Company and Employee concerning Employee's
separation from the Company, and shall supersede and replace any and all prior agreements and understandings concerning Employee's
relationship with the Company and his compensation by the Company, including but not limited to the Employment Agreement (other
than as set forth in this Agreement).

 

16. No
Oral Modification. This Agreement may only be amended in writing signed by Employee and the Company.

 

17. Construction.
Whenever used in this Agreement, the singular shall be construed to include the plural and vice versa, where applicable, and the
use of the masculine, feminine or neuter gender shall include the other genders. The subject matter and language of this Agreement
has been the subject of negotiations between the parties and their respective counsel, and this Agreement has been jointly prepared
by their respective counsel. Accordingly, this Agreement shall not be construed against any party on the basis that this Agreement
was drafted by such party or its counsel. Headings of section and subsections are for convenience of reference only, and shall
not be construed as a part of this Agreement, or as limiting or defining the scope of any term or provision hereof.

 

18. Governing
Law. This Agreement shall be governed by the laws of the State of New York, without regard to its conflicts of law provisions.

 

19. Counterparts.
This Agreement may be executed in counterparts, and each counterpart shall have the same force and effect as an original and shall
constitute an effective, binding agreement on the part of each of the undersigned. This Agreement may be executed via facsimile
or e-mail and signatures delivered via facsimile or e-mail shall be effective for all purposes.

 

20. Voluntary
Execution of Agreement. This Agreement is executed voluntarily and without any duress or undue influence on the part or behalf
of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge that:

 

(a)
they have read this Agreement;

 

(b) they
have been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of their own choice or
that they have voluntarily declined to seek such counsel;

  

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(c) they
understand the terms and consequences of this Agreement and of the releases it contains; and

 

(d)
they are fully aware of the legal and binding effect of this Agreement.

 

21. Execution
and Revocation Rights.

 

(a) This
Agreement is intended to satisfy the requirements of the OWPBA. The Employee further agrees that he is advised by this Agreement,
as required by the OWPBA, that (i) this waiver and release does not apply to any rights and claims that may arise after the effective
date of this Agreement, (ii) he has the right to consult with an attorney prior to signing this Agreement, (iii) he may have at
least twenty one (21) days to consider this Agreement, (iv) he has seven (7) days following his execution of this Agreement to
revoke this Agreement, (v) this Agreement shall not be effective until the revocation period has expired, therefore making the
effective date the eighth (8th) day after this Agreement is executed by the Employee.

 

(b) By
executing this Agreement, the Employee acknowledges that the Employee has been advised by a representative of the Company that
he has twenty-one (21) days within which to consider this Agreement before signing the same and that the Employee has, in fact,
been given at least twenty-one (21) days within which to consider this Agreement prior to signing this Agreement.

 

(a) Following
his signing of the Agreement, Employee has the right to revoke the Agreement at any time within seven (7) calendar days of him
signing it, not including the date of his signing (the "Revocation Period"). Notice of Revocation shall be given in writing
and sent by overnight mail no later than the seventh (7th) day following the date Employee signs this Agreement. The Notice of
Revocation shall be sent to the Board of Directors of the Company. If Employee does not revoke the Agreement, this Agreement shall
be deemed to be effective and to be enforceable as of the last date set forth opposite any signature hereto. If Employee gives
Notice of Revocation during the Revocation Period in the manner specified above, this Agreement shall become null and void and
all rights and claims of the parties which would have existed, but for the execution of this Agreement shall be restored.

   

[Signatures Follow on Next Page]

  

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    IN
WITNESS WHEREOF, the Parties have executed this Separation and Settlement Agreement on the respective dates set forth below.

  

	RELMADA THERAPEUTICS, INC.	 	Ottavio Vitolo, an Individual
	 	 	 
	By:	/s/ Sergio Traversa	 	/s/ Ottavio Vitolo
	 	 	 
	Its: CEO	 	 
	 	 	 
	Date:  April 1, 2020	 	Date: April 1, 2020

 

 

8

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