Document:

exv10w5

 

Exhibit 10.5

Gardner Denver, Inc.

Nonemployee Director Stock Option Agreement

	 								
	RECIPIENT:

	 	SHARES:
	 	PURCHASE
	 	GRANT
	 	EXPIRATION
	 

	 	 	 	PRICE:
	 	DATE:
	 	DATE:

This Agreement is made between Gardner Denver, Inc., a Delaware corporation, having its principal
executive office in Quincy, Illinois (the “Company”), and the undersigned, a nonemployee director
of the Company (the “Director”).

The parties have agreed as follows:

	1.	 	Pursuant to the Gardner Denver, Inc. Long-Term Incentive Plan, as amended, (the “Plan”), the
Company grants to the Director a nonstatutory option to purchase the number of shares of the
Company’s common stock, par value $0.01 per share (the “Shares”), specified above, at the
price specified above, subject to the following conditions:

	 	(a)	 	Subject to Sections 2 and 6, the option rights are fully exercisable on the first
anniversary of the date of grant of this option (the “Grant Date”).
	 
	 	(b)	 	During the lifetime of the Director, the option rights are exercisable only by the
Director or the Director’s legal representative.
	 
	 	(c)	 	The option rights shall expire at the Expiration Date specified above, or at such
earlier time as may be provided by Sections 2 or by cash payments made in cancellation
pursuant to Section 6, and such option rights shall not be exercisable after such
expiration.

	2.	 	If the Director shall cease to serve as a director of the Company by reason of retirement in
accordance with any retirement plan or policy of the Company then in effect or by reason of
disability during service as a director, option rights not otherwise fully exercisable at the
time of such retirement or cessation of service as a director due to disability shall become
fully exercisable upon such retirement or cessation of service, and such option rights shall
be exercisable for five years following such retirement or cessation of service (but not after
the Expiration Date). If the Director shall die during service as a director or shall die
within the five-year period during which the option rights may be exercised following
retirement or disability, option rights not otherwise fully exercisable at the time of the
death of the Director shall become fully exercisable upon such death, and such option rights
shall be exercisable for one year following such death (but not after the Expiration Date). If
after the expiration of one year from the Grant Date, the Director shall cease to serve as a
director of the Company for any reason other than death, disability or retirement, the option
rights shall continue to be exercisable for a period of 90 days after such cessation of
service (but not after the Expiration Date).
	 
	3.	 	This option may be exercised by delivering to the Company at its principal executive office
(directed to the attention of the Corporate Secretary) a written notice, signed by the
Director or a person entitled to exercise the option by will or the laws of descent and
distribution, as the case may be, of the election to exercise the option and stating the
number of Shares in respect of which it is then being exercised. The option shall be deemed
exercised as of the date the Company receives such notice. As an essential part of such
notice, it shall be accompanied by payment of the full purchase price of the Shares then being
purchased. In the event the option shall be exercised by any person other than the Director,
such notice shall be accompanied by appropriate evidence of the right of such person to
exercise the option. Payment of the full purchase price may be made in (a) cash, (b) Shares,
or (c) any combination of cash and Shares, provided that any Shares used by the Director in
payment of the purchase price must have been held by the Director for a period of more than
six months, and provided further that the Company reserves the right to prohibit the use of
Shares as payment of the purchase price. Shares used in payment of the purchase price shall
be valued at the market close price of such Shares on the composite tape of the New York Stock
Exchange or as reported in the consolidated transaction reporting system for the date of
exercise. Upon the proper exercise of the option, the Company shall issue in the name of the
person exercising the option, and deliver to such person, a certificate or certificates for
the Shares purchased, or shall otherwise properly evidence the purchase of such Shares in the
Company’s stock records. The Director shall have no rights as a stockholder in respect of any
Shares as to which the option shall not have been effectively exercised as provided in this
Agreement.
	 
	4.	 	This option shall not be exercisable if such exercise would violate (a) any applicable
requirement under the Securities Act of 1933, as amended (the “Act”), the Securities Exchange
Act of 1934, as amended, or the listing requirements of any stock exchange; (b) any applicable
state securities law; or (c) any other applicable legal requirement.

 

 

	 	 	Furthermore, if a registration statement with respect to the Shares to be issued upon the
exercise of this option is not in effect or if counsel for the Company deems it necessary or
desirable in order to avoid possible violation of the Act, the Company may require, as a
condition to its issuance of the Shares, the delivery to the Company of a commitment in writing
by the person exercising the
option that at the time of such exercise it is the person’s intention to acquire such Shares for
the person’s own account for investment only and not with a view to, or for resale in connection
with, the distribution of such Shares, that such person understands that the Shares may be
“restricted securities” as defined in Rule 144 issued under the Act, and that any resale,
transfer or other disposition of the Shares will be accomplished only in compliance with
Rule 144, the Act, or other or subsequent applicable rules and regulations under the Act. The
Company may place on the certificates evidencing such Shares an appropriate legend reflecting
such commitment and the Company may refuse to permit transfer of such Shares until it has been
furnished evidence satisfactory to it that no violation of the Act or the applicable rules and
regulations would be involved in such transfer.
	 
	5.	 	This option may not be assigned, encumbered or transferred except, in the event of the death
of a Participant by will or by the laws of descent and distribution. The Employee shall have
the right, subject to the provisions of this Section 5, to transfer all or any portion of the
option granted under this Agreement (or an amendment thereto), for estate planning purposes,
to (a) the Employee’s spouse, children, grandchildren, parents, siblings, stepchildren,
stepgrandchildren or in-laws (“Family Members”), (b) entities that are exclusively
family-related, including trusts for the exclusive benefit of Family Members and limited
partnerships or limited liability companies in which Family Members are the only partners or
members, or (c) such other persons or entities specifically approved by the Committee of the
Board of Directors that administers the Plan (the “Committee”). The terms and conditions
applicable to the transfer of any such stock options or portion of an option transferred by
the Employee shall be established by the Committee, in its discretion but in accordance with
this Section 5 shall remain subject to the same terms and conditions as were applicable
immediately prior to the transfer, including those provisions regarding exercisability of the
option following the cessation of employment of the Employee by the Company and the death of
the Employee, except that no transferee may further transfer an option or portion of an option
transferred by the Employee in accordance with this Section 5, other than by will or the laws
of descent and distribution. In order to effect a transfer in accordance with this Section 5,
the Employee shall deliver to the Company (in the manner set forth in Section 4) a Notice of
Transfer of Option substantially in the form attached to this Agreement.
	 
	6.	 	If (i) the Company is to be merged into or consolidated with one or more corporations and the
Company is not to be the surviving corporation, (ii) the Company is to be dissolved and
liquidated, (iii) substantially all the assets and business of the Company are to be sold, or
(iv) there occurs a “change of control” of the Company, then the option rights not otherwise
exercisable shall become fully exercisable. In the case of a change of control, (i) the
Company shall make payment in cash to the Director in an amount equal to the appreciation in
the value of the option from the purchase price specified in this Agreement to the “change of
control price”; (ii) such cash payment shall be due and payable, and shall be paid by the
Company, immediately upon the occurrence of the change of control; and (iii) after such
payment, the Director shall have no further rights under this Agreement with respect to option
rights outstanding at the time of the change of control. For purposes of this Agreement, a
“change of control” and the “change of control price” shall be as defined in Section 2 of the
Plan.
	 
	7.	 	The committee of the Board of Directors that administers the Plan (the “Committee”) shall
have authority, subject to the express provisions of the Plan, to construe this Agreement and
the Plan, to establish, amend and rescind rules and regulations relating to the Plan, and to
make all other determinations in the judgment of the Committee necessary or desirable for the
administration of the Plan. The Committee may correct any defect or supply any omission or
reconcile any inconsistency in the Plan or in this Agreement in the manner and to the extent
it shall deem expedient to carry the Plan into effect. All action by the Committee under the
provisions of this paragraph shall be conclusive for all purposes.
	 
	8.	 	The Company and Employee agree that any claim, dispute or controversy arising under or in
connection with this Agreement (including, without limitation, any such claim, dispute or
controversy arising under any federal, state or local statute, regulation or ordinance or any
of the Company’s employee benefit plans, policies or programs) shall be resolved solely and
exclusively by binding arbitration. The arbitration shall be held in the city of St. Louis (or
at such other location as shall be mutually agreed by the parties). The arbitration shall be
conducted in accordance with the Expedited Employment Arbitration Rules (the “Rules”) of the
American Arbitration Association (the “AAA”) in effect at the time of the arbitration, except
that the arbitrator shall be selected by alternatively striking from a list of five
arbitrators supplied by the AAA. All fees and expenses of the arbitration, including a
transcript if either requests, shall be borne equally by the parties. If Employee prevails as
to any material issue presented to the arbitrator, the entire cost of such proceedings
(including, without limitation, Employee’s reasonable attorneys’ fees) shall be borne by the
Company. If Employee does not prevail as to any material issue, each party will pay for the
fees and expenses of its own attorneys, experts, witnesses, and preparation and presentation
of proofs and post-hearing briefs (unless the party prevails on a claim for which attorney’s
fees are recoverable under the Rules). Any action to enforce or vacate the arbitrator’s award
shall be governed by the Federal Arbitration Act, if applicable, and otherwise by applicable
state law. If either the Company or Employee pursues any claim, dispute or controversy against
the other in a proceeding other than the arbitration provided for herein, the responding party
shall be entitled to dismissal or injunctive relief regarding such action and recovery of all
costs, losses and attorney’s fees related to such action. Notwithstanding the provisions of
this paragraph, either party may seek injunctive relief in a court of competent jurisdiction,
whether or not the case is then pending before the panel of arbitrators. Following the
court’s determination of the injunction issue, the case shall continue in arbitration as
provided herein.

 

 

	9.	 	If a Change of Control occurs during the term of this Agreement, any stock option which is
not exercisable in full shall be entitled, in lieu of the exercise of the portion of the stock
option which is not exercisable, to obtain a cash payment in an amount equal to the difference
between the option price of such stock option to be determined pursuant to Section 21 of the
Plan..
	 
	10.	 	The Director agrees to notify the Company promptly of the disposition, whether by sale,
exchange or otherwise, of any Shares acquired pursuant to the exercise of this option if such
disposition occurs within one year from the acquisition of the Shares. Such notice shall
state the date and manner of disposition and the proceeds, if any, received by the Director.
	 
	11.	 	This Agreement and the option granted under this Agreement shall be subject to all of the
provisions of the Plan as are in effect from time to time, which provisions of the Plan shall
govern if there is any inconsistency between this Agreement and the Plan.
	 
	12.	 	The community interest, if any, of any spouse of the Employee in any of the Options shall be
subject to all of the terms, conditions and restrictions of this Agreement and the Plan, and
shall be forfeited and surrendered to the Company upon the occurrence of any of the events
requiring the Employee’s interest in such Options to be so forfeited and surrendered pursuant
to this Agreement.
	 
	13.	 	This Agreement shall be governed by and construed and enforced in accordance with the laws of
the State of Delaware without reference to its principles of conflict of laws.
	 
	14.	 	This Agreement sets forth the entire agreement, and supersedes all other agreements and
understandings, whether oral or written, by and between the parties relating to the subject matter
hereof.

By your signature and the Company’s signature below, you and the Company agree that these options
are granted under and governed by the terms and conditions of the Company’s Long-Term Incentive
Plan as amended and the Incentive Stock Option Agreement.

THE DIRECTOR ACKNOWLEDGES AND AGREES THAT THE OPTIONS SUBJECT TO THIS OPTION AWARD SHALL VEST AND
BECOME EXERSIZABLE, IF AT ALL, ONLY DURING THE PERIOD OF DIRECTOR’S SERVICE TO THE COMPANY OR AS
OTHERWISE PROVIDED IN THIS AGREEMENT (NOT THROUGH THE ACT OF BEING GRANTED THE OPTIONS). THE
DIRECTOR FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS AGREEMENT OR THE PLAN SHALL CONFER
UPON DIRECTOR ANY RIGHT WITH RESPECT TO FUTURE OPTION AWARDS OR CONTINUATION OF DIRECTOR’S SERVICE
TO THE COMPANY. The Director acknowledges receipt of a copy of the Plan, represents that he or she
is familiar with the terms and provisions thereof, and hereby accepts the Option Award subject to
all of the terms and provisions hereof and thereof, including the mandatory Dispute Resolution
Procedure. The Director has reviewed this Agreement and the Plan in their entirety, has had an
opportunity to obtain the advice of counsel prior to executing this Agreement, and fully
understands all provisions of this Agreement and the Plan.

	 	 	 	 	 	 	 
	 	 	GARDNER DENVER, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	DIRECTOR	 	 
	 
	 	 	 	 	 	 
	 

	 	Signed:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Dated:exv10w6

 

Exhibit 10.6

	 	 	 
	 

	 	Gardner Denver, Inc.
	 

	 	Nonemployee Director
	 

	 	Restricted Stock Units Agreement

	 	 	 	 	 	 	 	 	 
	RECIPIENT:

	 	RS UNITS:
	 	GRANT DATE:
	 	VEST DATE:
	 	EXPIRATION DATE:

This Agreement is made between Gardner Denver, Inc., a Delaware corporation, having its principal
executive office in Quincy, Illinois (the “Company”), and the undersigned, an Director of the
Company or a subsidiary of the Company (the “Director”).

WITNESSETH:

     WHEREAS, the Management Development and Compensation Committee of the Board of Directors of
the Company (the “Committee”) desires to benefit the Company by increasing motivation on the part
of the Director, who is materially important to the Company, by creating an incentive to remain as
an Director of the Company and to work to the very best of the Director’s abilities; and

     WHEREAS, to further this purpose, the Company desires to make an Award of restricted stock
units to the Director under the terms of the Gardner Denver, Inc. Long-Term Incentive Plan, as
amended and restated (the “Plan”); and

     WHEREAS, pursuant to official action of the Committee on                                         , 200                     (the “Date of
Award”), the Company undertook to grant the Award contemplated by this Agreement to the Director.

     NOW, THEREFORE, in consideration of the premises, and of the mutual agreements hereinafter set
forth, it is covenanted and agreed as follows:

1. Grant of Restricted Stock Units. Pursuant to the terms of the Plan the Director is
hereby awarded restricted stock units covering                                          shares of the Common Stock (the “RS
Units”). On any day, the value of an RS Unit shall equal the Fair Market Value of one share of
Common Stock. All of the RS Units shall be subject to the prohibition on the transfer of the RS
Units and the obligations to forfeit the RS Units to the Company as set forth in Section 4
paragraph (c) of this Agreement.

2. Effect of the Plan. The RS Units awarded to the Director are subject to all of the terms
and conditions of the Plan, which terms and conditions are incorporated herein for all purposes,
and of this Agreement together with all rules and determinations from time to time issued by the
Committee and by the Board pursuant to the Plan. The Company hereby reserves the right to amend,
modify, restate, supplement or terminate the Plan without the consent of the Director, so long as
such amendment, modification, restatement or supplement shall not materially reduce the rights and
benefits available to the Director hereunder, and this Award shall be subject, without further
action by the Company or the Director, to such amendment, modification, restatement or supplement
unless provided otherwise therein. Capitalized terms used but not defined in this Agreement shall
have the meanings ascribed to such terms in the Plan.

3. Vesting of RS Units. Except as otherwise provided in Section 4 of this Agreement, the RS
Units shall vest pursuant to the provisions of paragraph (d) of Section 4 of this Agreement, on the
third anniversary of the Date of Award.

4. Restrictions. The Director hereby accepts the Award of the RS Units and agrees with
respect thereto as follows:

     (a) No Transfer. Unless otherwise determined by the Committee and provided in this Agreement
or the Plan, the RS Units shall not be sold, assigned, pledged, exchanged, hypothecated or
otherwise transferred except by will or the laws of descent and distribution. Any attempted
assignment of an RS Unit in violation of this Agreement shall be null and void. The Company shall
not be required to honor the transfer of any RS Units that have been sold or otherwise transferred
in violation of any of the provisions of this Agreement or the Plan.

     (b) Arbitration. The Company and Director agree that any claim, dispute or controversy arising
under or in connection with this Agreement (including, without limitation, any such claim, dispute
or controversy arising under any federal, state or local statute, regulation or ordinance or any of
the Company’s Director benefit plans, policies or programs) shall be resolved solely and
exclusively by binding arbitration. The arbitration shall be held in the city of St. Louis (or at
such other location as shall be mutually agreed by the parties). The arbitration shall be conducted
in accordance with the Expedited Employment Arbitration Rules (the “Rules”) of the American
Arbitration Association (the “AAA”) in effect at the time of the arbitration, except that the
arbitrator shall be selected by alternatively striking from a list of five arbitrators supplied by
the AAA. All fees and expenses of the arbitration, including a transcript if either requests, shall
be borne equally by the parties. If Director prevails as to any material issue presented to the
arbitrator, the entire cost of such proceedings (including, without limitation, Director’s
reasonable attorneys’ fees) shall be borne by the Company. If Director does not prevail as to any
material issue, each party will pay for the fees and expenses of its own attorneys, experts,
witnesses, and preparation and presentation of proofs and post-hearing briefs (unless the party
prevails on a claim for which attorney’s fees are recoverable under the Rules). Any action to
enforce or vacate the arbitrator’s award shall be governed by the Federal Arbitration Act, if
applicable, and otherwise by applicable state law. If either the

 

 

Company or Director pursues any claim, dispute or controversy against the other in a proceeding other than the arbitration provided
for herein, the responding party shall be entitled to dismissal or injunctive relief regarding such
action and recovery of all costs, losses and attorney’s fees related to such action. Notwithstanding the provisions of this paragraph, either
party may seek injunctive relief in a court of competent jurisdiction, whether or not the case is
then pending before the panel of arbitrators. Following the court’s determination of the injunction
issue, the case shall continue in arbitration as provided herein.

     (c) Forfeiture of RS Units. If the Director terminates service with the Company prior to the
third anniversary of the Date of Award for any reason other than the Director’s death or Retirement
or Disability, as hereinafter defined, or if the Director (or the Director’s estate) or if the
Director (or the Director’s estate) shall initiate a legal proceeding against the Company other
than pursuant to the terms of Arbitration Procedure described in Paragraph (b) of this Section 4.,
then the Director (or the Director’s estate, as applicable) shall, for no consideration, forfeit
all RS Units; provided, however, that the Committee or its designee may, in the Committee’s or the
designee’s sole and absolute discretion, as applicable, provide for the acceleration of the vesting
of the RS Units, eliminate or make less restrictive any restrictions contained in this Agreement,
waive any restriction or other provision of the Plan or this Agreement or otherwise amend or modify
this Agreement in any manner that is either (i) not adverse to the Director, or (ii) consented to
by the Director.

     (d) Vesting of RS Units. If the Director provides continuous, eligible service to the Company
and its Subsidiaries, as determined by the Committee or its designee, in the Committee’s or the
designee’s sole and absolute discretion, as applicable, until the third anniversary of the Date of
Award, the Director shall vest in one hundred percent (100%) of the RS Units.

     (e) Retirement, Death or Disability. If, as a result of the Director’s death, retirement in
accordance with the director retirement policy of the Company then in effect, or Disability, the
Director terminates service with the Company prior to the third anniversary of the Date of Award,
the Director shall vest in and have a non-forfeitable right to one hundred percent (100%) of the RS
Units. In the event of death, the RS Units that become vested in accordance with this paragraph (e)
of Section 4 shall be distributed to the Director’s beneficiary designated by the Director on such
form and in such manner as may be prescribed by the Company or, if the Director fails to designate
a beneficiary in accordance with the foregoing, to the Director’s surviving spouse or, if there is
no surviving spouse, in equal shares to the Director’s surviving children or, if there are no
surviving children, to the Director’s estate.

     (f) Change of Control. If a Change of Control occurs during the term of this Agreement, the
Director shall vest in and have a non-forfeitable right to one hundred percent (100%) of the RS
Units.

     (g) Rights. RS Units represent an unsecured promise of the Company to issue shares of Common
Stock of the Company as otherwise provided in this Agreement. Other than the rights provided in
this Agreement, the Director shall have no rights of a stockholder of the Company until such RS
Units have vested and the related shares of Common Stock have been issued pursuant to the terms of
this Agreement.

     (h) Issuance of Common Stock. The Company will issue to the Director the shares of Common
Stock underlying the vested RS Units, no later than the later of (i) 21/2 months following the end of
the Company’s fiscal year in which the RS Units vest pursuant to paragraph (c) of this Section 4
above, or (ii) as soon as is administratively practicable following the end of such fiscal year.
Evidence of the issuance of the shares of Common Stock pursuant to this Agreement may be
accomplished in such manner as the Company or its authorized representatives shall deem appropriate
including, without limitation, electronic registration, book-entry registration or issuance of a
certificate or certificates in the name of the Director or in the name of such other party or
parties as the Company and its authorized representatives shall deem appropriate.

     In the event the shares of Common Stock issued pursuant to this Agreement remain subject to
any additional restrictions, the Company and its authorized representatives shall ensure that the
Director is prohibited from entering into any transaction, which would violate any such
restrictions, until such restrictions lapse.

     5. Community Interest of Spouse. The community interest, if any, of any spouse of the
Director in any of the RS Units shall be subject to all of the terms, conditions and restrictions
of this Agreement and the Plan, and shall be forfeited and surrendered to the Company upon the
occurrence of any of the events requiring the Director’s interest in such RS Units to be so
forfeited and surrendered pursuant to this Agreement.

     6. Binding Effect. This Agreement shall be binding upon and inure to the benefit of
any successors to the Company and all persons lawfully claiming under the Director.

     7. Tax Matters.

     (a) The vesting of any RS Units and the related issuance of shares of Common Stock pursuant to
paragraph (h) of Section 4 of this Agreement shall be subject to the satisfaction of all applicable
federal, state and local income and employment tax withholding requirements (the “Required
Withholding”). By execution of this Agreement, the Director shall be deemed to have authorized the
Company to withhold from the shares of Common Stock issued as a result of the Director’s vesting in
the RS Units, the shares of Common Stock necessary to satisfy the Director’s Required Withholding,
if any. The amount of the Required Withholding and the number of shares of Common Stock required to
satisfy the Director’s Required Withholding, if any, as well as the amount reflected on tax reports
filed by the Company, shall be based on the closing price of the Common Stock on the day the RS
Units vest pursuant to Section 4 of this Agreement. Notwithstanding the foregoing, the Company may
require that the Director satisfy the Director’s Required Withholding, if any, by any other

 

 

means the Company, in its sole discretion, considers reasonable. The obligations of the Company under
this Agreement shall be conditioned on such satisfaction of the Required Withholding.

     (b) The Director acknowledges that the tax consequences associated with the Award are complex
and that the Company has urged the Director to review with the Director’s own tax advisors the
federal, state, and local tax consequences of this Award. The Director is relying solely on such
advisors and not on any statements or representations of the Company or any of its agents. The
Director understands that the Director (and not the Company) shall be responsible for the
Director’s own tax liability that may arise as a result of this Agreement.

     8. No Right to Continued Service. Nothing in this Agreement shall be deemed to create
any limitation or restriction on such rights as the Company otherwise would have to terminate the
employment of the Director. For purposes of this Agreement, employment by a parent or subsidiary of
or a successor to the Company shall be considered to be employment by the Company.

     10. Governing Law. This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Delaware without reference to its principles of conflict
of laws.

     11. Entire Agreement. This Agreement sets forth the entire agreement, and supersedes
all other agreements and understandings, whether oral or written, by and between the parties
relating to the subject matter hereof.

THE DIRECTOR ACKNOWLEDGES AND AGREES THAT THE RS UNITS SUBJECT TO THIS AWARD SHALL VEST AND THE
RESTRICTIONS RESULTING IN THE FORFEITURE OF THE RS UNIT SHALL LAPSE, IF AT ALL, ONLY DURING THE
PERIOD OF DIRECTOR’S SERVICE TO THE COMPANY OR AS OTHERWISE PROVIDED IN THIS AGREEMENT (NOT THROUGH
THE ACT OF BEING GRANTED THE RS UNITS). THE DIRECTOR FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING
IN THIS AGREEMENT OR THE PLAN SHALL CONFER UPON DIRECTOR ANY RIGHT WITH RESPECT TO FUTURE AWARDS OR
CONTINUATION OF DIRECTOR’S SERVICE TO THE COMPANY. The Director acknowledges receipt of a copy of
the Plan, represents that he or she is familiar with the terms and provisions thereof, and hereby
accepts the Restricted Stock Unit Award subject to all of the terms and provisions hereof and
thereof, including the mandatory Dispute Resolution Procedure. The Director has reviewed this
Agreement and the Plan in their entirety, has had an opportunity to obtain the advice of counsel
prior to executing this Agreement, and fully understands all provisions of this Agreement and the
Plan.

     IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an authorized
officer and the Director has executed this Agreement, all as of the date first above written.

	 	 	 	 	 
	 	 	GARDNER DENVER, INC.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	DIRECTOR
	 

	 	Signed:	 	 
	 

	 	 	 	 
	 

	 	Dated:

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