Document:

Exhibit 10.8

 

RENAISSANCE PARENT CORP.

9 WEST 57TH STREET, 42ND FLOOR

NEW YORK, NY 10019

 

July 30, 2013

 

Kohlberg Kravis Roberts & Co L.P.

9 West 57th St., Suite 4200

New York, New York 10019

 

Re:Monitoring Agreement

 

Ladies and Gentlemen:

 

This letter serves to confirm that Renaissance
Parent Corp. (the “Company”) has engaged Kohlberg Kravis Roberts & Co. L.P. (the “Manager”)
to provide, and the Manager hereby agrees to provide, management, consulting and financial services to the Company and its direct
and indirect divisions, subsidiaries, parent entities and controlled affiliates (collectively, the “Company Group”),
as follows:

 

1.    The
Company has engaged the Manager, and the Manager hereby agrees to accept such engagement, to provide to the Company Group, when
and if called upon, such services as mutually agreed by the Manager and the Company, which services may include, without limitation:
(i) general executive and management services; (ii) identification, support, negotiation and analysis of acquisitions and dispositions
by the Company Group; (iii) support, negotiation and analysis of financing alternatives, including, without limitation, in connection
with acquisitions, capital expenditures and refinancing of existing indebtedness; (iv) finance functions, including assistance
in the preparation of financial projections and monitoring of compliance with financing agreements; (v) human resources functions,
including searching and recruiting of executives, but excluding formulation or promulgation of personnel policies or involvement
in personnel decision making; and (vi) other services for the Company Group upon which the Company and the Manager may agree from
time to time. Commencing on the date hereof (the “Effective Date”), the Company agrees to pay the Manager (or
such affiliate(s) as any the Manager may designate) an aggregate annual fee (the “Advisory Fee”) in an amount
equal to $3,500,000, payable in quarterly installments in arrears at the end of each fiscal quarter. The Advisory Fee shall increase
each fiscal year by 5.0%. The initial Advisory Fee shall be prorated to reflect the portion of the current fiscal quarter that
will elapse after the Effective Date. The final quarterly Advisory Fee shall be prorated to reflect the portion of the final quarter
prior to the end of the term of this agreement, as applicable.

 

2.    From
time to time the Manager may charge the Company a customary fee (a “Transaction Fee”) for services rendered
in connection with securing, structuring and negotiating equity and debt financing, including with respect to any acquisition,
divestiture or other transaction, initial public offering, or a debt or equity financing, in each case, by or 

    	 

    	 

    

involving the Company
Group. For the avoidance of doubt, the Company Group may, from time to time, after the Effective Date, engage the Manager or its
affiliates to provide additional investment banking or other financial advisory services in connection with any acquisition, divestiture
or similar transaction by the Company Group, in respect of which (i) separate agreements may be entered into and (ii) the Manager
or its affiliates may be entitled to receive additional compensation in respect thereof pursuant to such separate agreements. In
addition to any fees that may be payable to the Manager under this agreement, the Company shall, or shall cause one or more of
its affiliates to, on behalf of itself and the other members of the Company Group (subject to paragraph 3), reimburse the Manager
and its affiliates and its employees and agents, from to time upon request, for all reasonable out-of-pocket expenses incurred,
including unreimbursed out-of-pocket expenses incurred to the date hereof, in connection with this retention, including travel
expenses and expenses of any legal, accounting or other professional advisors to the Manager or its affiliates. The Manager may
submit monthly expense statements to the Company or any other member of the Company Group for such out-of-pocket expenses, which
statements shall be payable within thirty days.

 

3.    The
Company (on behalf of itself and the other members of the Company Group) hereby acknowledges and agrees that the obligations of
the Company under paragraphs 1 and 2 shall be borne jointly and severally by each member of the Company Group.

 

4.    The
Company will, and will cause each member of the Company Group to, use its reasonable best efforts to furnish, or to cause their
respective subsidiaries and agents to furnish, the Manager with such information (the “Information”) as the
Manager reasonably believes appropriate to its engagement hereunder. The Company acknowledges and agrees that (i) the Manager will
rely on the Information and on information available from generally recognized public sources in performing the services contemplated
hereunder and (ii) the Manager does not assume responsibility for the accuracy or completeness of the Information or such other
information.

 

5.    The
Company (on behalf of itself and the other members of the Company Group) hereby acknowledge and agree that the services provided
by the Manager hereunder are being provided subject to the terms of the Indemnification Agreement, dated as of the date hereof,
among KKR Renaissance Aggregator L.P., KKR Renaissance Aggregator GP LLC, the Company, Gardner Denver, Inc. and the Manager (as
the same may be amended from time to time, the “Indemnification Agreement”).

 

6.    Any
advice or opinions provided by the Manager may not be disclosed or referred to publicly or to any third party (other than the Company
Group’s legal, tax, financial or other advisors), except with the prior written consent of the Manager.

 

7.    The
Company hereby grants the Manager and its affiliates a non-exclusive license to use the Company’s trademarks and logos, solely
in connection with describing the Manager’s relationship with the Company and the other members of the Company Group.

 

8.    The
Manager shall act as an independent contractor, with duties solely to the Company Group. The provisions hereof shall inure to the
benefit of and shall be binding upon the parties hereto and their respective successors and assigns; provided that (i) neither
this 

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agreement nor any right, interest or obligation hereunder may be assigned by any party, whether by operation of law or otherwise,
without the express written consent of the other parties hereto and (ii) any assignment by the Manager of its rights but not the
obligations under this agreement to any entity directly or indirectly controlling, controlled by or under common control with the
Manager shall be expressly permitted hereunder and shall not require the prior written consent of the other parties hereto. Nothing
in this agreement, expressed or implied, is intended to confer on any person other than the parties hereto or their respective
successors and assigns, any rights or remedies under or by reason of this agreement. Without limiting the generality of the foregoing,
the parties acknowledge that nothing in this agreement, expressed or implied, is intended to confer on any present or future holders
of any securities of the Company or its subsidiaries or affiliates, or any present or future creditor of the Company or its subsidiaries
or affiliates, any rights or remedies under or by reason of this agreement or any performance hereunder.

 

9.    This
agreement shall be governed by and construed in accordance with the internal laws of the State of New York. Each of the parties
hereby agrees that any action or proceeding arising out of this agreement or the transactions contemplated hereby shall be brought
in the federal or state courts sitting in the County of New York, in the City of New York, New York, and each of the parties hereby
consents to submit itself to the personal jurisdiction of such courts in any such action or proceeding, and hereby waives any defense
of inconvenient forum to the maintenance of any action or proceeding so brought and waives any bond, surety or other security that
might be required of any other party with respect thereto.

 

10.   All
notices and other communications provided for hereunder shall be in writing and shall be sent by first class mail, telex, telecopier
or hand delivery:

 

	If to the Company: 	
        Renaissance
Parent Corp. 

        c/o
Kohlberg Kravis Roberts & Co. L.P. 

        9
West 57th Street, Suite 4200 

        New
York, New York 10019 

        Facsimile:
(212) 750-0003 

        Attn:
David Sorkin, Esq. 

	 	 
	with copies to: (which shall not constitute notice)	
        Simpson
Thacher & Bartlett LLP

425 Lexington Avenue 

        New
York, New York 10017

Attention: Sean Rodgers, Esq.

Facsimile: (212) 455-2502 

	 	 
	If to the Manager:	
        Kohlberg
Kravis Roberts & Co. L.P. 

        9
West 57th St., Suite 4200 

        New
York, New York 10019 

        Attention:
Peter Stavros 

        Facsimile:
(212) 750-0003 

	 	 
	with a copy to: (which shall not constitute notice)	Simpson Thacher & Bartlett LLP

425 Lexington Avenue

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        New
York, New York 10017

Attention: Sean Rodgers, Esq. 

        Facsimile:
(212) 455-2502 

 

or to such other address as any of the above shall have designated
in writing to the other above. All such notices and communications shall be deemed to have been given or made (i) when delivered
by hand, (ii) five business days after being deposited in the mail, postage prepaid or (iii) when telecopied, receipt acknowledged.

 

11.This
agreement shall continue in effect from year to year unless amended or terminated by the consent of all of the parties hereto.
In addition, the Company may terminate this agreement by delivery of a written notice of termination to the Manager at any time
after the Manager and its affiliates no longer holds any partnership interests in KKR Renaissance Aggregator L.P. (the “Partnership”);
provided that in the event of such a termination the Company shall pay in cash to the Manager all unpaid Advisory Fees payable
to the Manager hereunder and all expenses due under this agreement to the Manager with respect to periods prior to the termination
date. In addition, (i) in connection with the consummation of a Change of Control (as defined in the Amended and Restated Limited
Partnership Agreement of the Partnership, dated as of July 29, 2013, among the parties thereto, as the same may be amended from
time to time (the “Partnership Agreement”), the Company may terminate this agreement by delivery of a written
notice of termination to the Manager and (ii) immediately following the consummation of an Initial Public Offering (as defined
in the Partnership Agreement), this agreement shall automatically terminate unless the Company, by delivery of a written notice
to the Manager prior to such consummation, otherwise elects to continue this agreement in full force and effect. In the event of
a termination of this agreement pursuant to the immediately preceding sentence, the Company shall upon such termination pay in
cash to the Manager (i) all unpaid Advisory Fees payable to the Manager hereunder and all expenses due under this agreement to
the Manager with respect to periods prior to the termination date, plus (ii) the net present value (using a discount rate equal
to the yield as of such termination date on U.S. Treasury securities of like maturity based on the times such payments would have
been due) of the Advisory Fees that would have been payable with respect to the period from the termination date through the twelfth
anniversary of the Effective Date, or, if terminated following the twelfth anniversary of the Effective Date, through the first
anniversary of the Effective Date occurring after the termination date.

 

12.Each
party hereto represents and warrants that the execution and delivery of this agreement by such party has been duly authorized by
all necessary action of such party.

 

13.If
any term or provision of this agreement or the application thereof shall, in any jurisdiction and to any extent, be invalid and
unenforceable, such term or provision shall be ineffective, as to such jurisdiction, solely to the extent of such invalidity or
unenforceability without rendering invalid or unenforceable any remaining terms or provisions hereof or affecting the validity
or enforceability of such term or provision in any other jurisdiction. To the extent permitted by applicable law, the parties hereto
waive any provision of law that renders any term or provision of this agreement invalid or unenforceable in any respect.

 

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14.Each
party hereto waives all right to trial by jury in any action, proceeding or counterclaim (whether based upon contract, tort or
otherwise) related to or arising out of the retention of the Manager pursuant to, or the performance by the Manager of the services
contemplated by, this agreement.

 

15.It
is expressly understood that the foregoing paragraphs 2, 3, 5, 6, 9 – 11, and paragraphs 13 – 17, in their entirety,
survive any termination of this agreement.

 

16.Except
in cases of fraud, gross negligence or willful misconduct, none of the Manager, its affiliates or any of its employees, officers,
directors, managers, partners, consultants, members, stockholders or their respective affiliates shall have any liability of any
kind whatsoever to any member of the Company Group for any damages, losses or expenses (including, without limitation, special,
punitive, incidental or consequential damages, lost profits and interest, penalties and fees and disbursements of attorneys, accountants,
investment bankers and other professional advisors) with respect to the provision of services hereunder. The Company (on behalf
of itself and the other members of the Company Group), by its acceptance of the benefits hereof, covenants, agrees and acknowledges
that no person other than the Manager shall have any obligation hereunder and that it has no rights of recovery against, and no
recourse hereunder or under any documents or instruments delivered in connection herewith shall be had against, any former, current
or future director, officer, manager, agent, consultant, affiliate or employee of the Manager (or any of their successors or permitted
assignees), against any former, current or future general or limited partner, member or stockholder of the Manager (or any of its
successors or permitted assignees) or any affiliate thereof or against any former, current or future director, officer, agent,
consultant, employee, affiliate, general or limited partner, stockholder, manager or member of any of the foregoing (collectively,
the “Manager Affiliates”), whether by or through attempted piercing of the corporate veil, by or through a claim
by or on behalf of Partners LP against the Manager Affiliates, by the enforcement of any judgment or assessment or by any legal
or equitable proceeding, or by virtue of any statute, regulation or other applicable law, or otherwise.

 

17.This
letter agreement and the Indemnification Agreement contain the complete and entire understanding and agreement between the Manager
and the Company with respect to the subject matter hereof and supersede all prior and contemporaneous understandings, conditions
and agreements, whether written or oral, express or implied, in respect of the subject matter hereof. The Company acknowledges
and agrees that Manager makes no representations or warranties in connection with this letter agreement or its provision of services
pursuant hereto. The Company agrees that any acknowledgment or agreement made by the Company in this letter agreement is made on
behalf of the Company and the other members of the Company Group.

 

18.This
agreement may be executed in counterparts, each of which shall be deemed an original agreement, but all of which together shall
constitute one and the same instrument.

 

[Remainder of page intentionally left blank.]

 

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If the foregoing sets forth the understanding
between us, please so indicate on the enclosed signed copy of this letter in the space provided therefor and return it to us, whereupon
this letter shall constitute a binding agreement among us.

 

	 	Very truly yours,
	 	 	 	 
	 	RENAISSANCE PARENT CORP.
	 	 	 	 
	 	By: 	/s/ Josh Weisenbeck
	 	       	Name:	Josh Weisenbeck
	 	  	Title:	Vice President

 

 

Monitoring Agreement – Signature Page 

 

    	 

    	 

    

	AGREED TO AND ACCEPTED BY:
	 	 	 	 
	KOHLBERG KRAVIS ROBERTS & CO. L.P.
	 	 	 	 
	By: 	/s/ William Janetshek	 
	      	Name:  	William Janetschek	 
	      	Title:    	CEO	 

 

 

Monitoring Agreement – Signature PageExhibit 10.9

 

FIRST AMENDMENT

 

FIRST AMENDMENT, dated as of June 9, 2014
(this “Amendment”), to the MONITORING AGREEMENT, dated as of July 30, 2013 (the “Monitoring Agreement”),
by and between Renaissance Parent Corp. (the “Company”) and Kohlberg Kravis Roberts & Co. L.P. (the “Manager”).

 

W I T N E S S E T H:

 

WHEREAS, thM:\s001556\x4\Original\Cycle1e Company and the Manager are parties
to the Monitoring Agreement; and

 

WHEREAS, the Company and
the Manager desire to amend the Monitoring Agreement as hereinafter set forth;

 

NOW, THEREFORE, in consideration of the premises
and mutual agreements herein contained, the Company and Manager hereby agree to amend the Monitoring Agreement in the following
manner:

 

1.    Defined
Terms. Unless otherwise defined herein, terms defined in the Monitoring Agreement and used herein shall have the meanings given
to them in the Monitoring Agreement.

 

2.    Amendment
to the Monitoring Agreement. The fourth sentence of Section 11 of the Monitoring Agreement is hereby deleted and replaced with
the following:

 

In the event of a termination of this agreement pursuant
to the immediately preceding sentence, the Company shall upon such termination pay in cash to the Manager (i) all unpaid Advisory
Fees payable to the Manager hereunder and all expenses due under this agreement to the Manager with respect to periods prior to
the termination date, plus (ii) the net present value (using a discount rate equal to the yield as of such termination date on
U.S. Treasury securities of like maturity based on the times such payments would have been due) of the Advisory Fees that would
have been payable with respect to the period from the termination date through December 31, 2023, or, if terminated following December
31, 2023, through the first anniversary of the Effective Date occurring after the termination date.

 

3.    Continuing
Effect of the Monitoring Agreement. Other than the amendment of the Monitoring Agreement expressly set forth in paragraph 2
of this Amendment, the Monitoring Agreement is unaffected hereby and remains in full force and effect as between the parties thereto.

 

4.    Counterparts.
This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts, and all
of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature
page of this Amendment by email or facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.

 

5.    GOVERNING
LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

    	 

    	 

    

[Remainder of page intentionally
left blank]

 

 

 

 

 

 

 

 

 

 

 

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IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be duly executed and delivered by their proper and duly authorized officers as of the day and year first
above written.

 

	 	RENAISSANCE PARENT CORP.
	 	By:	/s/ Joshua Weisenbeck
	 	 	Name:	Joshua Weisenbeck
	 	 	Title:	Authorized Signatory

 

 

First Amendment to Monitoring Agreement
– Signature Page

 

    	 

    	 

    

	 	KOHLBERG KRAVIS ROBERTS & CO. L.P. 
	 	By: 	/s/ William Janetshek
	 	 	Name:	William Janetschek
	 	 	Title:	Authorized Signatory

 

 

First Amendment to Monitoring Agreement
– Signature Page

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