Document:

exv10w1

Exhibit 10.1

Waiver and Release Agreement

Page 1 of 4

WAIVER AND RELEASE AGREEMENT

     I, Armando L. Castorena, understand my last day of employment with Gardner Denver, Inc.
(“GDI”) is May 10, 2011 (“Termination of Employment Date”), and I accept the following, which GDI
promises to me, in consideration for the promises I make in this Waiver and Release Agreement (this
“Agreement”):

	 	•	 	Payment of the sum of Four Hundred Fifty Five Thousand Seven Hundred Ninety
Nine Dollars ($455,799), to be made payable to me in lump sum, less applicable
withholdings, payable no earlier than the first practicable payroll date occurring at least
eight (8) days after my acceptance of and signature on this Agreement;
	 
	 	•	 	Payment of a sum equivalent to twelve (12) months of COBRA medical insurance premiums, to
be made payable to me in lump sum, less applicable withholdings, payable no earlier than
the first practicable payroll date occurring at least eight (8) days after my acceptance of
and signature on this Agreement; and
	 
	 	•	 	Other Benefits:

	 	•	 	My eligibility and right to payment under the GDI retirement savings
plan and supplemental excess defined contribution plan will be governed exclusively
by the terms and conditions of applicable plan document(s), using my Termination of
Employment Date as my separation from service and/or termination date as such is
defined in the applicable plan document(s); I understand that my contributions and
the company contributions will cease on my Termination of Employment Date.
	 
	 	•	 	Any remaining stock options that have vested prior to my Termination of
Employment Date, but have not been exercised by me, may be exercised until August
9, 2011. Thereafter,
I have forfeited any vested but unexercised options. Vesting on all unvested options
terminates on my Termination of Employment Date, except that all unvested options
which are scheduled to vest on September 15, 2011 will be treated as vested,
effective as of that date and once vested may be exercised until December 15, 2011.
The parties agree that these provisions amend, to the extent required, the applicable
award agreements for such awards which otherwise continue to apply.
	 
	 	•	 	Any unvested restricted stock units terminate on my Termination of
Employment Date, except that the unvested restricted stock units which are scheduled
to vest on September 15, 2011 will be treated as vested, effective as of that date.
The parties agree that these provisions amend, to the extent required, the
applicable award agreements for such awards which otherwise continue to
apply.
	 
	 	•	 	My participation in any GDI bonus plans, including but not
limited to the Executive Annual
Bonus Plan and the Long-Term Incentive Plan, will cease as of my Termination of
Employment Date.
	 
	 	•	 	I understand that I am eligible to receive outplacement services through
a firm of my choosing at GDI’s expense (up to an amount no greater than $25,000) to
assist me in finding a new position. I further understand GDI also will reimburse me
for reasonable travel expenses associated with such outplacement services, subject
to the overall $25,000 limit
described in the proceding sentence.

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Waiver and Release Agreement

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	 	•	 	Any obligation I have to repay any GDI-paid relocation expenses,
reimbursement of
relocation expenses, or other relocation benefit, resulting from my separation of
service
and/or termination from employment with GDI is hereby waived. In addition, GDI will
apply the same tax gross-up methodology used to calculate the total federal, state
and local
tax gross-up’s, as defined in the executive relocation FAQ
document that applies to all other
executives who report to the CEO and who have relocated to the
Philadelphia area. Any
remaining tax payments will be made by GDI for my relocation expenses incurred in moving
from Quincy, IL to Pennsylvania on or before December 31,2011.
	 
	 	•	 	I understand that I will continue to receive GDI’s executive tax
return preparation service regarding my 2011 tax return and tax planning services
through Rubin Brown, up to an aggregate amount no greater than $6,000.
	 
	 	•	 	GDI will pay a lump sum of five (5) days of unused vacation.
	 
	 	•	 	I understand that I
will have the right to elect COBRA
benefits under the GDI medical plan
in accordance with federal law.
	 
	 	•	 	I understand that all other company benefits cease on my Termination of
Employment Date.

     (1.) Complete and General Release. In consideration for receiving the pay and benefits set
forth above, I, for myself and my heirs, agents, executors, administrators, successors and assigns,
release, relinquish, waive and forever discharge GDI, its subsidiaries, affiliates and all other
related entities; its and their predecessors, successors and assigns; the past, present and future
officers, directors, shareholders, trustees, members, employees, attorneys and agents of any of the
previously listed entities; any benefits plan maintained by any of the previously listed entities
at any time; and the past, present and future sponsors, insurers,
trustees, fiduciaries and
administrators of such benefit plans (collectively “Released Parties”) from all claims,
liabilities, demands and causes of action or suits of any kind, known
or unknown, fixed or
contingent, of whatsoever kind or nature that I ever had, now have or may claim to have as of the
date of the signing of this Agreement, including but not limited to, those arising out of my
employment with GDI and my separation from that employment. This Release includes, but is not
limited to, a release of the following types of claims:

     (a) Claims
of discrimination, harassment or retaliation, whether based on race, color, religion,
gender, sex, age, sexual orientation, handicap and/or disability, national origin, whistle blowing
or any other legally protected class;

     (b) Claims under the FEDERAL AGE DISCRIMINATION IN EMPLOYMENT ACT, 29
U.S.C. section 621 et seq., and all other federal, state and local laws, statutes and
ordinances governing or
concerning employment;

     (c) Claims under the Worker Adjustment and Retraining Notification Act;

     (d) Claims
under federal, state or local laws, regulations, ordinances or court decisions of
any
kind;

     (e) Contract claims (whether express or implied);

     (f) Tort claims, including without limitation, wrongful termination, defamation, negligence,
invasion of privacy or emotional distress;

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Waiver and Release Agreement

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     (g) Claims under the Family and Medical Leave Act;

     (h) Claims under the Employee Retirement Income Security Act; and

     (i) Claims for attorney’s fees and costs.

     Notwithstanding any other provision of this Release, the following are not barred by this
Release; (i)
claims relating to the validity of this Release; (ii) claims by either party to enforce this
Release; (iii) claims that may arise after the date this Release is signed; and (iv) claims that are
not legally waivable. This Release includes all claims for accrued or future wages, salary, or
benefits, but does not extend to my right to vested accrued benefits as set forth in the plan
documents of GDI governing such benefit programs and the right under federal or state law to
continue certain benefit coverages. I understand that any and all claims for, and any rights to, any
such vested accrued benefits are governed exclusively by the plan documents of GDI, and that I have
no rights or entitlement arising from any contract or any other source to any such benefits from
GDI other than as provided by such plan documents as modified or limited by this Agreement

     In addition, this Release will not operate to limit or bar my right to file an administrative
charge of discrimination with the Equal Employment Opportunity Commission (EEOC) or to testify,
assist or participate in an investigation, hearing or proceeding conducted by the EEOC. However,
this Release does bar my right to recover any personal or monetary relief, including if I or anyone
on by behalf seeks to file a lawsuit on the same basis as the charge of discrimination.

     (2.) Return of All GDI Property. I agree that on my Termination of Employment Date, I will
return to my immediate supervisor all property of GDI, including but not limited to keys, access
cards, credit cards, electronics, storage media, machinery, computer files and documents, and any
other GDI property in my possession related to GDI’s business or customer information.

     (3.) No Admission of Liability. I acknowledge that this Agreement is not an admission of
liability or wrongdoing by GDI or any other Released Party.

     (4.) Confidential and Proprietary Information of the Company. During my employment with GDI, I had access
to much of GDI’s confidential information including but not limited to: product margins, product
strengths and weaknesses, GDI policies, objectives, strategies, long range plans, plans for market
product development, financial information, payroll information, personnel information and other
similar information. I agree that I will not disclose any of the confidential information gained in
my position with GDI to the advantage of a GDI competitor or to GDI’s disadvantage. I will also
continue to abide by all confidentiality restrictions pursuant to other agreements which I have
executed with GDI prior to the date of this Agreement.

     (5.) Not-Disparagement/Non-Solicitation. I agree not to disparage, denigrate, or defame GDI
and/or related persons, or any of their business products or services. I further agree that I will
not, for a period of twelve (12) months following my Termination of Employment Date, solicit, take
away, or attempt to take away, directly or indirectly, any customers or employees of the Company,
either for myself or as an employee of any person, firm, corporation, or other entity engaged in,
or planning to engage in, the manufacture and sale of products and services that are competitive
with those of the Company. I acknowledge and agree that my breach of the covenants contained in
this Section 5 will cause immediate and irreparable harm to the Company, that the restrictions of
this Section 5 are reasonable, and that the Company shall be entitled to injunctive relief to
enjoin any continuing breach of this Section 5 and to actual and consequential damages resulting
therefrom.

     (6.) Cooperation. I agree that I will cooperate with GDI and its attorneys in the prosecution
or defense of any litigation, or matters concerning which litigation subsequently arises, which
occurred or

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Waiver and Release Agreement

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accrued during my employment, and I understand that I will be reimbursed for reasonable expenses
incurred through such cooperation.

     (7.)
Idemnification of Tax Liabiality. I acknowledge and agree that any tax consequence
resulting from any payment and benefit described in this Agreement is solely my responsibility, and
I further agree to indemnify GDI for any tax liability, penalty, or interest GDI may incur as a
result of any such payment and benefit. I further acknowledge that I will be responsible for all
federal, state and local taxes incurred in connection with the vesting of unvested restricted stock
units on September 15, 2011, and that unless I provide GDI with a payment to satisfy such tax
obligations prior to such date, I acknowledge that GDI will withhold a sufficient number of shares
associated with such restricted stock units to satisfy all such tax obligations.

     (8.)
Consideration Period / Right to Revoke Period. I understand that I have until and including
May 31, 2011, a period of twenty-one (21) days to review
and consider this Agreement. I may return
this Agreement in less than the full consideration period only if my decision to shorten it was
knowing and voluntary and was not induced in any way by GDI. I understand that I have a seven-day
period after signing this Agreement to revoke or rescind this
Agreement. Such revocation must be in
writing and directed to Brent A. Walters, 1500 Liberty Ridge Drive,
Suite 3000, Wayne, Pennsylvania
19087.

     (9.)
Savings Clause. I agree that if any part or provision of this Agreement is deemed by any
court to be invalid, void or unenforceable for any reason, the remainder of the terms and
provisions of this Agreement shall remain in full force and effect and shall in no way be affected,
impaired or invalidated.

     I
hereby acknowledge that I have carefully read and fully understand the provisions of this
Agreement. I have not relied upon any other representation or statement, written or oral, except
for those set forth in this Agreement, I also hereby acknowledge that GDI has recommended that I
consult with an attorney and personal, financial and tax advisors prior to signing this Agreement,
and I acknowledge that I have had adequate time to do so. I am entering into this Agreement
knowingly and voluntarily and not as a result of any pressure, coercion or duress.

	 	 	 	 	 
	 	 	 
	 	/s/ Armando L. Castorena
 	 
	 	Armando L. Castorena 	 
	 	 	 
	 

Dated:
June 3, 2011

	 	 	 	 	 
	 	Accepted by:

GARDNER DENVER, INC.

 	 
	 	By:  	/s/ Brent A. Walters
 	 
	 	 	Name:  	Brent A. Walters 	 
	 	 	Title: V. P. General Councel 	 
	 

Dated:
June 3, 2011

4exv10w2

Exhibit 10.2

April 7, 2011

Mr. Christopher R. Celtruda

3049 West Cottonwood Lane

Phoenix, AZ 85045

Dear Mr. Celtruda:

This will serve to confirm our recent discussion regarding our offer to you to join Gardner Denver,
Inc. as the Vice President of Gardner Denver and President of the Industrial Products Group
reporting directly to me and located at Gardner Denver’s new headquarters in Wayne, Pennsylvania in
the greater Philadelphia area. This offer is contingent on successful completion of a
pre-employment drug screen with acceptable results. Specifically please note the following:

	 	1.	 	Salary. Your annual base salary will be $350,000. As part of Gardner
Denver’s process to get new hires to a common annual salary increase date, any increase to
your salary during the 2012 executive salary review would be pro-rated based on your start
date.
	 
	 	2.	 	Executive Annual Bonus Incentive Program. You will be eligible to
participate in the Gardner Denver, Inc. Executive Annual Bonus Incentive Program. subject
to the terms and conditions of the program. Your target annual incentive is 60% of your base
salary. Your annual incentive payout may range from 0% to 200% (max of 120%) of your
annual incentive target. Your award for the 2011 plan year will be prorated based on your
start date.
	 
	 	 	 	The specific performance objectives and measures for your annual incentive will be defined and
reviewed each year and your annual incentive awards will be calculated, approved and paid
after financial results have been finalized and awards have been approved by the Management
Development and Compensation Committee of the Board of Directors (the “MDCC” or “Compensation
Committee”).
	 
	 	3.	 	Long Term Cash Bonus Plan (LTCB). In addition, the Compensation Committee
instituted a long-term cash bonus plan in 2001, which is based on a rolling three (3) year
earnings before tax (EBT) performance of the Company’s businesses. Your target long-term
bonus opportunity will be 50% of base salary (with a maximum payout of 100% of base
salary).
	 
	 	 	 	Your participation in the Long Term Cash Bonus Plan is based on your employment with
Gardner Denver. In accordance with the Gardner Denver Long-Term Incentive Plan, you will be
eligible for your first full year of participation in 2012, which is 1/3rd (33%)
participation in the 2010-2012 LTCB plan, which will result in a 1/3rd payout of the 2010-2012 plan in March 2013. You will have
another full years employment participation in 2013, which will result is 2/3rd
(66%) participation in the 2011-2013 LTCB plan. You will have another full years employment
participation in 2014, which will result is 3/3rd (100%) participation in the
2012-2014 LTCB plan.

Chris Celtruda Offer Letter 4-7-2011 Initial CRC Date 4/8/11

Gardner Denver, Inc. | 1550 Liberty Ridge Drive — Suite 320 | Wayne, PA 19087-5667 | Office : 610-249-2000
| Fax: 610-232-0425

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Note that your plan participation (1/3, 2/3, 3/3rds) does not guarantee a payout and that
achievement of the plan results drive the actual payouts which can result in no payout, below or
above target payouts.

Note that the specifics of both of the Gardner Denver bonus plans (Executive Annual Bonus Incentive
Program and the Long Term Cash Bonus Plan) are determined by the Compensation Committee on an
annual basis. The criteria for achieving the annual bonus will be determined by the Compensation
Committee, in its sole discretion, at its annual first quarter meeting (normally in February) and
bonuses will be awarded following that meeting within a two to three week period depending on the
payroll processing cycle.

	 	4.	 	Equity Incentive Plan. Annually, you will be eligible to receive a restricted stock (or
restricted stock unit) and stock option grant pursuant to the Company’s Long-Term Incentive Plan.
Historically, these grants are determined by the Compensation Committee at it’s annual first
quarter meeting (normally in February) and the Company’s stock options are granted with a strike
price equal to the market close on the date of the Compensation Committee’s approval of the grant.
Stock option grants vest over a three (3) year period in three (3) equal increments and are
exercisable for seven (7) years. The Company’s restricted stock units vest at the end of three (3)
years.

Note that the 3 components of the Long Term Incentive Plan (LTIP) for Gardner Denver, Inc.
currently include Stock Option Grants, Restricted Stock Unit Grants, and the Long Term Cash Bonus
Plan. The LTIP is designed to split the total targeted LTIP economic value at 33.3% for each
component. The MDCC could make adjustments or changes to the annual and long term compensation
programs for executives so these programs described in this offer letter do not reflect a guarantee
to continue these programs for you. As Executive Officers of Gardner Denver, our annual and long
term compensation is determined by the MDCC.

	 	5.	 	Special Restricted Stock Unit Grant. In order to bridge your transition from your current
employer to Gardner Denver, you will receive a special one-time award of $663,000 in restricted
stock units that will be granted at the market close price on your first day of employment.
	 
	 	6.	 	Special Stock Options Grant. In order to bridge your transition from your current employer to
Gardner Denver, you will receive a special one-time award of $31,100 (Black Scholes derived value)
in stock options that will be granted at the strike price at the market close price on your first
day of employment.
	 
	 	 	 	Note, the above restricted stock units and stock options grants will have the same vesting and
forfeiture requirements as other annual grants.
	 
	 	7.	 	Change in Control. As an executive of the Company, you will receive a Change in Control
Agreement. This Agreement addresses adverse changes that may occur with respect to your terms and
conditions of employment, including position, location, compensation and benefits, following a
change of control. If, during the 24-month period following a change

Chris Celtruda Offer Letter 4-7-2011 Initial CRC Date 4/8/11

Gardner Denver, Inc. | 1550 Liberty Ridge Drive — Suite 320 | Wayne, PA 19087-5667 | Office : 610-249-2000 | Fax: 610-232-0425

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in control, the Company terminates your employment other than for cause, or you terminate for
a good reason (i.e., relating to material changes in position, location, compensation and/or
benefits), you will receive payments consistent with the prevailing Change in Control Agreement.
Generally, per the current agreement at the time of this offer, you would be entitled to receive:

	 	•	 	Accrued but unpaid base salary through the date of termination,
	 
	 	•	 	A severance payment of two (2) times the sum of your base salary and bonus amount
	 
	 	•	 	To the extent not included in the executives accrued compensation, the Company will pay
a pro-rata bonus amount for the year of termination, based on the executives bonus amount
and
	 
	 	•	 	The Company will pay for the continuation of medical, dental and life insurance
benefits for up to two (2) years.

The Executive Change in Control Agreement will be provided to you for complete review.

You will also receive an Indemnification Agreement to protect you from potential claims made
against you in your capacity as an executive of the Company.

	8.	 	Special Sign on Bonus. You will be eligible to receive a one-time sign on bonus in the amount of
$800.000 less applicable taxes and withholding. This sign-on bonus is being provided to you to
assist you with your requirements to pay back your current employer for relocation assistance that
they provided to you. This payment will be made to you with your regularly scheduled paycheck as
soon as practicable after your start date. Should you voluntarily terminate your employment or be
involuntarily terminated for cause. including but not limited to a violation of the Gardner Denver
Code of Ethics and Business Conduct, from the Company within thirty six (36) months of your date of
hire. you will be required to repay 100% of the sign-on bonus payment, including all local state and
federal taxes paid on your behalf by the company.

Notwithstanding the foregoing, in the event of a Change in Control (as defined in the Gardner
Denver, Inc. Long —Term Incentive Plan) or if you are involuntarily terminated without cause, you
shall be released of any obligation to repay the sign-on bonus described above.

As additional consideration for the Special Sign On Bonus and Special Equity Grants, you agree that
for a period of two (2) years following the termination of your affiliation with the Company for any
reason, you shall not directly or indirectly (i) induce, solicit, request or advise any Customers
(as defined below) to patronize any business which competes with any business of the Company or its
affiliates for which you have had any management responsibility during your affiliation with
Company; or (ii) entice, solicit, request or advise any employee of the Company or any of its
affiliaties to accept employment (or other affiliation) with any other person, firm or business. As
used above, “Customers” means all customers of any business of the Company or its
affiliates for
which you had contact or management responsibility during your affiliation with Company.

Chris Celtruda Offer Letter 4-7-2011 Initial CRC Date 4/8/11

Gardner Denver, Inc. | 1550 Liberty Ridge Drive – Suite 320 | Wayne, PA 19087-5667 | Office :
610-249-2000 | Fax : 610-232-0425

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	9.	 	Relocation. You will be eligible for relocation benefits to the Wayne PA area. A
copy of the relocation benefits description and summary of the principal elements of this program
will be provided to you upon request. Of course, we will work with you, as necessary, to ensure
that you have a seamless relocation to the Wayne, PA area.
	 
	 	 	At this time we are not offering you a Loss on Sale or Home Buyout relocation benefit based on our
discussions that you will not need these benefits to complete your relocation to Pennsylvania.
	 
	 	 	Your benefits under the relocation program will be contingent upon your signing the attached
Relocation Agreement, which will provide that if you voluntarily terminate your employment with the
Company within thirty six (36) months from the date of hire, you will be required to repay 100% of
the expense of your relocation, including all local, state and federal taxes paid on your behalf by
the company.
	 
	 	 	Accordingly, by signing this offer letter, you are authoring Gardner Denver to withhold any and all
Reimbursement Amounts form
any funds owed to you by Gardner Denver upon your termination, including any base salary or bonuses.
Any portion of the Reimbursement Amount
remaining unpaid after your termination will bear interest at a rate
equal to the lesser of (i) 18% or (ii) the maximum, non-usurious rate of interest permitted by
applicable law.
	 
	 	 	Gardner Denver has a contract with Prudential that will assist you with your relocation to the
Wayne, Pennsylvania area. A Prudential representative will contact you to provide detailed
information about your relocation. Please do not list your home or contact anyone about the
movement of household goods until you have discussed your relocation with Prudential.
	 
	10.	 	Executive Agreements.
	 
	 	 	As part of this offer you will receive a severance plan agreement with the following provisions:

	 	a.	 	lump sum severance payment equal to one times the sum of your annual base salary and
executive annual bonus at full target
	 
	 	b.	 	12 months of paid COBRA for Health and Welfare benefits at the coverage level prior
to your termination
	 
	 	c.	 	outplacement services for up to 12 months
	 
	 	d.	 	with the following general terms and conditions (agreement will have full T&C’s);

	 	i.	 	the agreement stipulates that you will receive the severance benefits only if you are
involuntarily terminated for other than for cause.
	 
	 	ii.	 	Should you be involuntarily terminated for cause, including but not limited to a
violation of the Gardner Denver Code of Ethics and Business Conduct, you will not receive a
severance payment

Chris Celtruda Offer Letter 4-7-2011 lnitial CRC Date 4/8/11

Gardner Denver, lnc. | 1550 Liberty Ridge Drive — Suite 320 | Wayne, PA 19087-5667 | Office:
610-249-2000 | Fax: 610-232-0425

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	 	iii.	 	subject to other standard terms and conditions for the Company’s severance packages including
but not limited to waiver and release and non-disclosure agreements, and
	 
	 	iv.	 	the severance agreement will expire after your second year of employment (day of your second
anniversary of date of hire).

	 	 	
	 
	11.	 	Retirement Plans. As an executive of Gardner Denver. you will be eligible to participate in the
Company’s Retirement Savings Plan and Supplemental Excess Defined Contribution Plan.

The Company’s Retirement Savings Plan is a tax-qualified 401(k) retirement savings plan. You will be
eligible to contribute from 1% to 100% of compensation tax deferred to this plan up to the IRS
limit (2011 = $16,500 pre-tax limit plus $5,500 pre-tax catch-up if age 50 or older). The Company
matches the first 3% of employee contribution $1 for each $1 and the second 3% of employee contributions $.50
for each $1. The Company match is contributed in the form of our common stock, but you will have the
right to diversify out of Company common stock into other fund alternatives, subject to applicable
securities law requirements. You will also receive a non-elective Company contribution equal to 4%
of compensation up to the Social Security wage limit (2011 = $106,800) base plus 8% of compensation
that exceeds the Social Security wage
base up to the IRS limit (2011 = $245,000). All
employee and company matching contributions are fully vested immediately and the non-elective
company contribution becomes fully vested after three (3) years of employment.
	 
	 	 	In addition to the Retirement Savings Plan. you will be eligible to participate in the Supplemental
Excess Defined Contribution Plan. The Supplemental Plan provides you the opportunity to continue to
be credited with contributions on a pre-tax basis beyond the IRS limits that apply to the
Retirement Savings Plan. The Company matching contributions in this Plan are made at the
same rate as in the Retirement Savings plan described above . You will also receive a non-elective
Company contribution equal to 12% of compensation that exceeds the IRS limit (2011 = $245,000). All
employee and Company matching contributions are fully vested immediately and the non-elective
company contribution becomes fully vested after three (3) years of employment.
	 
	12.	 	Long-Term Care Insurance Program. The Compensation Committee adopted a Long-Term Care
Insurance program for Executives in 2004. The Company will pay for your premium payments under this
Program for required ten (10) years as an executive of Gardner Denver. It provides lifetime benefit
protection of $300 per day and increases each year after 2005 at the lesser of the CPI or 5%.
	 
	13.	 	Additional Executive Benefits. As an executive of Gardner Denver. you will also be eligible for
the following benefits: (a) annual tax planning and tax return preparation services by an external
financial planning services company, (currently Rubin Brown); (b) estate planning services (every five (5)
years ); (c) executive retirement planning in connection with your retirement from Gardner Denver:
(d) required annual executive physical examinations; (e)

Chris Celtruda Offer Letter 4-7-2011 Initial CRC Date 4/8/11

Gardner Denver. Inc. | 1550 Liberty Ridge Drive-Suite 320 | Wayne, PA 19087-5667 | Office: 610-249-2000 | Fax: 610-232-0425

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	 	 	 	executive long-term disability insurance; and (f) participation in the charitable donations
matching gifts program that matches your charitable donations up to $2,500 annually.
	 
	 	14.	 	Health and Welfare Insurance Coverage. You will also be eligible for other benefits
coverage including medical, dental, and life insurance and disability. A brief summary of these
benefit programs will be provided to you. The Gardner Denver benefits plan coverage year begins on
April 1st and ends on March 31st.
	 
	 	15.	 	Vacation. You will be eligible for four (4) weeks of vacation per year.
	 
	 	16.	 	Start Date. Your start date will be April 26, 2011 or earlier.

Chris, I am very excited by the prospect of your acceptance of this offer to become a part of the
Gardner Denver team. Clearly, you can make a positive contribution to our goal of growing the
Company into a larger and more profitable organization. Please acknowledge your acceptance of
this offer by signing and dating this letter on the space provided below and faxing it back to
Armando L. Castorena, Vice President Human Resources at (610) 232-0425 or email a pdf of the signed
offer letter to armando.castorena@gardnerdenver.com.

Sincerely,

/s/ Barry L. Pennypacker

 

Barry L. Pennypacker

President & Chief Executive Officer

 

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

ACCEPTED AND AGREED:

/s/ C. R. Celtruda

 

Christopher R. Celtruda

Date: April 8, 2011

Chris Celtruda Offer Letter 4-7-2011 Initial____ Date ____

Gardner Denver, Inc. | 1550 Liberty Ridge Drive — Suite 320 | Wayne, PA 19087-5667 | Office: 610-249-2000 | Fax: 610-232-0425

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