Document:

Exhibit 10.26

 

 

November 19, 2015

 

(BY E-MAIL)

Mr. Vicente Reynal

 

Dear Vicente,

 

This letter confirms the terms of your
promotion to Chief Executive Officer of Gardner Denver, Inc. (“GDI”), Reference is made to the Offer Letter
between you and GDI, dated as of April 17, 2015 (the “Offer Letter”)

 

		1.	Title and Duties: As of January 1, 2016 (the “Effective Date”) you will
assume the role of Chief Executive Officer of GDI, while continuing to serve as Chief Executive Officer of the Gardner Denver Industrial
Group (the “Industrial Group”). Initially, you will devote the vast majority of your time to the performance of duties
in your capacity as Chief Executive Officer of the Industrial Group. At a date to be mutually agreed between you and the board
of directors of GDI (the “Board”), you will transition to devoting more of your business time and attention to the
performance of duties as the Chief Executive Officer of GDI (the “CEO Transition”). It is anticipated that the CEO
Transition will occur at a time when the near-term objectives for the Industrial Group have been achieved and a potential successor
to you as the Chief Executive Officer of the Industrial Group has been identified and has developed an initial track record of
success in the Industrial Group.

 

		2.	Salary: As of the Effective Date, your annual base salary will be increased $750,000.00,
paid on a semi-monthly basis (or otherwise in accordance with the normal payroll practices of GDI as in effect from time to time.

 

		3.	2016 Bonus: Your annual bonus in respect of the 2016 fiscal year will be based on the achievement of certain
performance goals comparable to those that typically would be assigned to the Chief Executive Officer of the Industrial Group.
However, following the CEO Transition, your annual bonus will transition to be based on the actual performance of GDI to reflect
your additional responsibilities with GDI.

 

		4.	Long-Term Incentive Program: See attached Addendum A for details regarding
                                                                your                                                                 opportunity to receive an additional long-term
                                                                incentive                                                                 award in form of options to purchase, the common stock of
                                                                Renaissance Parent Corp.,
                                                                our parent holding company.  

 

Except as modified herein, the
terms of your Offer Letter shall remain in effect during your employment with GDI.

 

    	 

    	 

    

Vicente Reynal 

November 19, 2015 

Page 2

 

 

Vicente, we are so pleased to have you as apart of our
team. Congratulations on your promotion. We have high aspirations for you and for Gardner Denver under your leadership.

 

Please acknowledge your acceptance and  agreement
to the terms and conditions of this letter by signing and dating this letter on the
space provided below and emailing a PDF back to me.

 

Sincerely,

 

	/s/ Peter Stavros	 
	 	 
	Peter Stavros	 
	Director	 
	Gardner Denver, Inc.	 
	 	 

  

	 
	I have read and accept this offer of
employment and agree to the terms and conditions.

 

ACCEPTED AND AGREED: 

 

	/s/ Vicente Reynal	 
	Vicente Reynal	 
	 	 
	November 20, 2015	 
	Date	 

 

    	 

    	 

    

 

PRIVILEGED & CONFIDENTIAL

 

Addendum
A—Vicente Reynal

 

Equity Target

 

	
        Long-Term Incentive Program: 

         

        

        

        

         
	
        In connection with Executive’s promotion to Chief Executive
        Officer of GDI, the Executive will be entitled to receive a grant of options in Renaissance Parent Corp. (“Holdings”)
        with a strike price at then-current fair market value of Holdings’ shares, the intended goal of which is to provide the Executive
        with the opportunity (although not the guarantee) to earn pre-tax proceeds (net of the strike price) in respect of the value appreciation
        of GDI of up to and potentially more than USD $10 million.1

         

        This grant of options to purchase shares of Holdings stock wll
        be 50% time vested and 50% performance vested. The time vesting options vest 33% each year on the last day of each of Holdings’
        fiscal years from 2016 through 2018. The performance vesting options vest 33% per year as of the last day of each of Holdings’
        fiscal years from 2016 through 2018 provided the GDI achieves annual EBITDA targets

         

        Any options and Holdings stock Executive acquires are subject
        to Holdings’ 2013 Stock Incentive Plan terms and other terms contained in management equity agreements. These terms include,
        generally, transfer restrictions, company call rights, tagalong and dragalong rights, and restrictive covenants (including covenants
        not to disclose confidential information at any time, and while employed and for certain post-employment periods, not to solicit
        employees or customers and not to compete with the business of GDI).

         

1
Assuming a certain exit value is achieved in 2018. Details of a corresponding financial forecast and exit multiple assumption will
be presented separately. Actual value appreciation could be lesser or greater than amount stated above, depending upon performance
of GDI and market factors.Exhibit 10.27

 

 

November 18, 2015

 

(BY E-MAIL)

Mr. Todd Herndon

 

Dear Todd,

 

This letter confirms my offer to you to
join Gardner Denver, Inc. (“GDI”) as the Chief Financial Officer of the Industrials Group of GDI (“GDI
Industrials”), reporting directly to the Chief Executive Officer of GDI Industrials.

 

This offer is contingent upon successful
completion of a background check and pre-employment drug screening with acceptable results. Our Corporate Human Resources Department
will contact you to arrange the drug screening.

 

The terms of GDI’s offer include
the following:

 

		1.	Duties: While employed hereunder, you will perform such duties as are assigned to
you in your capacity as Chief Financial Officer of GDI Industrials by the Chief Executive Officer of GDI Industrials, devoting
your full business time and attention to the business and affairs of GDI.

 

		2.	Start Date: Your employment with GDI will commence January 17, 2016 (the “Start
Date”).

 

		3.	Location: This position is based in Milwaukee, Wisconsin, subject to such business
travel as may be reasonably required to perform your duties with GDI.

 

		4.	Salary: While employed hereunder, your annual base salary will be USD $350,000.00,
paid on a semi-monthly basis (or otherwise in accordance with the normal payroll practices of GDI as in effect from time time).

 

		5.	Management Incentive Plan Bonus Program: Beginning with GDI’s 2016 fiscal year
and for each fiscal year you are employed hereunder, you will be eligible to participate in the Gardner Denver, Inc. Management
Incentive Plan annual bonus program (the “MIP”). Your target annual incentive opportunity under the MIP for
each fiscal year will be 100% of your annual base salary as in effect for the given fiscal year (the “Target Bonus”).
Your actual annual cash incentive award may over- or under-earn your target annual incentive opportunity, depending on GDI’s
performance against its goals.

 

The specific performance objectives
and measures for your annual incentive opportunity will be defined and reviewed for each fiscal year and your annual incentive
award will be calculated, approved, and paid after financial results for the given fiscal year have been finalized, all in accordance
with the terms of the MIP.

 

    	 

    	 

    

 

Todd Herndon

November 18, 2015

Page 2

 

 

 

		6.	Investment in Parent Holding Company; Long-Term Incentive Program: See attached Addendum
A for details regarding your opportunity to invest in, and receive a long-term incentive award in respect of, the common stock
of Renaissance Parent Corp., our parent holding company.  

 

		7.	Retirement Plans: While employed hereunder, you will be eligible to participate in
GDI’s retirement savings plans, based on the then current company policy.

 

		8.	Health and Welfare Insurance Coverage: While employed hereunder, you also will be
eligible for other benefits coverage, including medical, dental, and life insurance and disability along with a comprehensive wellness
program for your health & well-being. A brief summary of these benefit programs as currently in effect will be provided to
you. The Gardner Denver benefits plan coverage year begins on April 1st and ends on March 31st of each calendar
year. GDI shall, if you elect to receive health insurance continuation coverage under COBRA from your previous employer, reimburse
you for the cost of such health insurance continuation coverage premiums that you procure during the period beginning on your termination
of employment from your previous employer and the date that you are eligible to enroll in the GDI health plans (which eligibility
will occur on or shortly following your Start Date).

 

		9.	Vacation: You will be eligible for 5 weeks of vacation per year.

 

		10.	Severance Arrangements: If GDI terminates your employment without Cause or you terminate
your employment for Good Reason (each as defined in the management equity agreements referenced in Addendum A hereto), and subject
to your continued compliance with the restrictive covenants (as provided in the management equity agreements), GDI will:

 

		a.	provide you with continued payment over a 12-month period (the “Severance Period”)
of your annual base salary, payable in substantially equal monthly installments over the Severance Period (the “Severance
Payment”); and

 

		b.	so long as you timely elect to continue to participate in GDI’s health insurance plan under
COBRA, provide you with continued coverage under GDI’s health insurance plan on the same basis as actively employed employees
of GDI for the 12 months following the date your employment terminates (or, if earlier, through the date you become employed by
another employer and eligible for health insurance coverage at such employer) (such provision of coverage, the “Benefit
Continuation”).

 

    	 

    	 

    

 

Todd Herndon

November 18, 2015

Page 3

 

 

Receipt of the above severance payments and benefits
is contingent on your execution (without revocation) of a waiver and release agreement in a form customarily used by GDI; in the
event that commencement of payment of the Severance Payment could begin in one of two calendar years, depending upon GDI’s
receipt of such executed waiver, payment of the Severance Payment will begin in the second calendar year, in compliance with Section
409A of the Internal Revenue Code (“Section 409A”).

 

		c.	Upon any termination of your employment, you will receive, by no later than the second payroll date following your termination
date, any unpaid payments of base salary previously earned but unpaid through such date, and other payments and benefits under
applicable employee benefit plans or programs to which you are entitled pursuant to the terms of such plans or programs.

 

		11.	Miscellaneous: GDI shall be entitled to withhold from the payment of any compensation
and provision of any benefit under this offer letter such amounts as may be required by applicable law, including without limitation
for purposes of the payment of payroll and income taxes. This offer letter and any dispute hereunder shall be interpreted and governed
in accordance with the laws of the State of Delaware without reference to rules relating to conflicts of law. Any controversy or
claim arising out of or relating to this offer letter that cannot be resolved by you and GDI shall be submitted to a single arbitrator
who shall be a retired judge with substantial experience in arbitrating executive compensation disputes, in accordance with the
dispute resolution provisions of the GDI Executive Severance Policy.

 

		12.	Other Conditions: This offer of employment, and your continued employment hereunder,
is further conditioned upon your signed agreement to, and ongoing compliance with, any code of conduct, business ethics and proprietary
information agreements customarily required to be signed by new employees of GDI.

 

By signing and accepting this offer of employment, you
represent and warrant that: (i) you are not subject to any pre-existing contractual or other legal obligation with any person,
company or business enterprise that may be an impediment to your employment with, or your providing services to, GDI as its employee;
(ii) you have not and shall not bring onto company premises, or use in the course of your employment with GDI, any confidential
or proprietary information of another person, company or business enterprise to whom you previously provided services; and (iii)
you are not relying on any representations, promises or agreements not expressly contained in this offer letter. You further agree
to keep this offer, its terms and any confidential or proprietary information of GDI, its parent holding company or any of their
affiliates that you may acquire during the process of receiving and negotiating this offer, confidential.

 

[Signatures on next page.]

 

    	 

    	 

    

 

Todd Herndon

November 18, 2015

Page 4

 

 

 

Todd, I am very excited about the prospect of your acceptance
of this offer to become a part of the Gardner Denver corporate team. I am confident you can make a positive contribution to our
goal of growing the Company into a more profitable organization.

 

Please acknowledge your acceptance of this offer and your agreement
to the terms and conditions of this letter, under which you will be employed with GDI, by signing and dating this letter on the
space provided below and emailing a PDF back to me.

 

Sincerely,

 

	/s/ Peter Stavros	 
	 	 
	Peter Stavros	 
	Director	 
	Gardner Denver, Inc.	 
	 	 

  

	 
	I have read and accept this offer of
employment and agree to the terms and conditions.

 

ACCEPTED AND AGREED: 

 

	/s/ Todd Herndon	 
	Todd Herndon	 
	 	 
	November 20, 2015	 
	Date	 

 

 

    	 

    	 

    

 

PRIVILEGED & CONFIDENTIAL

 

Addendum
A— Todd Herndon

 

Equity Target

 

	Investment; Long-Term Incentive Program:	Investment: It is expected that Executive will, subject to satisfaction of applicable securities laws requirements, invest a minimum of $1.0 million into the common stock of Renaissance Parent Corp. (“Holdings”) no later than two months following Executive’s Start Date. Such investment will be at the appraised value of the common stock of Holdings as of the date of Executive’s investment, which may be higher or lower than the appraised value of the common stock of Holdings as of Executive’s Start Date.
	 	Long-Term Incentive Program: A long term incentive plan (“LTI Platt”) has been established to give members of management at Gardner Denver, Inc. (“GDI”) the opportunity to share in the value appreciation of GDI. Through the grant of options in Holdings with a strike price at then-current fair market value of Holdings’ shares, the intended goal of this LTI Plan is to provide the Executive with the opportunity (although not the guarantee) to earn pre-tax proceeds (net of the strike price) in respect of such value appreciation of up to and potentially more than USD $8.0 million.1
	 	The LTI Plan grants to Executive are in the form of options to purchase shares of Holdings stock, 50% of which are subject to time vesting and 50% are subject to performance vesting. The time vesting options vest as to one-third (rounded to the nearest whole share) each year on the last day of each of Holdings’ fiscal years from 2016 through 2018. The performance vesting options vest as to one-third (rounded to the nearest whole share) per year as of the last day of each of Holdings’ fiscal years from 2016 through 2018 provided that GDI achieves annual EBITDA targets.
	 	Any options and Holdings stock Executive acquires are subject to the LTI Plan terns and other terms contained in management equity agreements with Holdings and the Investors. These terms include, generally, transfer restrictions, company call rights, tagalong and dragalong rights, and restrictive covenants (including covenants not to disclose confidential information at any time, and while employed and for certain post-employment periods, not to solicit employees or customers and not to compete with the business of GDI).

		1	Assuming a certain exit value is achieved in 2018. Details of a corresponding financial forecast
and exit multiple assumption will be presented separately. Actual value appreciation could be lesser or greater than amount stated
above, depending upon performance of GDI and market factors. GDI makes no representations as to financial performance

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