Document:

Exhibit 10.4

      

       

        

      TRANSITION AGREEMENT

       

      This Transition Agreement (this “Agreement”),

        dated October 28, 2019 (the “Execution Date”), confirms the following understandings and agreements between Gardner Denver Holdings, Inc.
        (the “Company”) and Neil Snyder (hereinafter referred to as “you” or “your”).

       

      In consideration of the promises set forth herein, you and the Company agree as follows:

       

      1.            Termination of Employment; Transition Period.

       

      (a)          Your employment and all directorships with the
          Company and its direct and indirect parent(s), subsidiaries and affiliates (collectively with the Company, the “Company Group”) will
          terminate on the date determined by the Company, in its sole discretion, which is no later than December 13, 2019(the “Termination Date”).

          After the Termination Date, you will not represent yourself as being an employee, officer, agent or representative of the Company or any other member of the Company Group.

       

      (b)          Effective as of the Execution Date, your offer
          letter, dated December 18, 2015, which sets forth the terms of your employment with the Company (the “Offer Letter”) shall be terminated
          and of no further force and effect. During the period commencing on the Execution Date and ending on your Termination Date (the “Transition
            Period”), you will continue to serve as the Company’s Vice President and Chief Financial Officer (“CFO”) until such time as the
          Company appoints a new or interim CFO (at which time you will resign as the CFO), and thereafter until your Termination Date, you will continue to serve in a full-time capacity as an advisor to the Company’s new or interim CFO (and will hold no
          other titles or positions with the Company or any other member of the Company Group) and will provide such transitional services as may be requested from time to time by the new or interim CFO or the Company’s Chief Executive Officer.

       

      (c)          During the Transition Period, you will work at the
          offices of the Company at which you were principally employed prior to the Execution Date, continue to be paid a base salary at the rate of $425,000 per year and continue to participate in all employee benefit plans of the Company on the same
          basis as such plans were made available to you immediately prior to the Execution Date (except as otherwise provided herein). The Company will reimburse you for reasonable commuting expenses (consistent with the Company’s travel policies and Schedule I hereto) incurred during the Transition Period and will gross up the commuting expense reimbursement for tax purposes at the end of the 2019 calendar year, if
          applicable.

       

      (d)          You currently hold common stock of the Company (“Common Stock”), options to purchase shares of Common Stock (“Options”) and restricted stock units that will be settled in Common Stock (“RSUs”). During the Transition
          Period, your Options and RSUs will remain outstanding and continue to vest in accordance with their terms.

       

      
        

        
          

        

      

      
      2.           Voluntary Termination of Employment Prior to the End of the Transition Period.  Notwithstanding anything to the contrary herein, unless the Company agrees otherwise, if you voluntarily terminate your employment prior to
          the expiration of the Transition Period (a “Voluntary Termination”), you will be entitled to any accrued but unpaid base salary, vacation
          pay and unpaid business expense reimbursements (subject to the requirements set forth in Section 3(a)(iii) below) incurred prior to the date of your Voluntary Termination, and you will have no further rights to any then unpaid payments or
          benefits under Section 1 or Section 3 below, but the release in Section 4 below will remain in full force and effect. In the event of your Voluntary Termination, your Options and RSUs will cease vesting and the unvested portion of your Options
          and RSUs will be forfeited for no consideration as of the date of your termination, and the vested portion of your Options will remain exercisable in accordance with the terms of such equity awards as applicable to a voluntary termination of
          employment by you (without good reason and other than for your retirement).

       

      3.           Separation Payments and Benefits.

       

      (a)          In addition to any accrued but unpaid base salary and
          vacation pay due and payable to you following your Termination Date, and provided that (i) your employment is terminated at the end of the Transition Period as described in Section 1 above (and not pursuant to your Voluntary Termination pursuant
          to Section 2 above), (ii) you execute, deliver and do not revoke this Agreement pursuant to Section 21 below and (iii) you execute, deliver and do not revoke the release agreement attached as Exhibit A hereto (the “Second Release Agreement”) within thirty (30) days of the Termination Date, you will be
          entitled to the following payments and benefits, subject to your continued compliance with the provisions of this Agreement, including but not limited to Sections 10 through 14 below:

       

      (i)            You will be provided with the
          severance payments and benefits as calculated in accordance with Schedule I attached hereto and payable in accordance with the terms therewith.

       

      (ii)           Your Common Stock, Options and
          RSUs will be treated in accordance with the terms set forth in Schedule I attached hereto (the “Equity Treatment”).

       

      (iii)          The Company will reimburse you
          for reasonable and customary business expenses incurred prior to the Termination Date pursuant to the terms of the Company’s business expense policy, provided that you submit a completed expense reimbursement form and supporting documentation no
          later than thirty (30) days following the Termination Date.

       

      (b)          You acknowledge and agree that the payments and
          other benefits provided pursuant to Section 1 above and this Section 3 are in full discharge of any and all liabilities and obligations of the Company or any other member of the Company Group to you, monetarily or with respect to employee
          benefits or otherwise, including but not limited to any and all obligations arising under the Offer Letter, any alleged written or oral employment agreement, policy, plan or procedure of the Company or any other member of the Company Group and/or
          any alleged understanding or arrangement between you and the Company or any other member of the Company Group (other than claims for accrued and vested benefits under an employee benefit, insurance, or pension plan of the Company or any other
          member of the Company Group (excluding any employee benefit plan providing severance or similar benefits), subject to the terms and conditions of such plan(s)).

       

      
        

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      4.            Release and Waiver of Claims.

       

      (a)          As used in this Agreement, the term “claims” will
          include all claims, covenants, warranties, promises, undertakings, actions, suits, causes of action, obligations, debts, accounts, attorneys’ fees, judgments, losses and liabilities, of whatsoever kind or nature, in law, equity or otherwise.

       

      (b)          For and in consideration of the payments and benefits
          described in Section 3 above, and other good and valuable consideration, you, for and on behalf of yourself and your heirs, administrators, executors and assigns, effective as of the date hereof, do fully and forever release, remise and discharge
          the Company, and any other member of the Company Group, together with their respective current and former officers, directors, partners, members, shareholders, fiduciaries, counsel, employees and agents (collectively, and with the Company, the “Company Parties”) from any and all claims whatsoever up to the date hereof which you had, may have had, or now have against the Company
          Parties, for or by reason of any matter, cause or thing whatsoever, including any claim arising out of or attributable to your employment or the termination of your employment with the Company, whether for tort, breach of express or implied
          employment contract, intentional infliction of emotional distress, wrongful termination, unjust dismissal, defamation, libel or slander, or under any federal, state or local law dealing with discrimination based on age, race, sex, national
          origin, handicap, religion, disability or sexual orientation.  This release of claims includes, but is not limited to, all claims arising under the Age Discrimination in Employment Act (“ADEA”), Title VII of the Civil Rights Act, the Americans with Disabilities Act, the Civil Rights Act of 1991, the Family Medical Leave Act and the Equal Pay Act, each as may be amended from
          time to time, and all other federal, state and local laws, the common law and any other purported restriction on an employer’s right to terminate the employment of employees. The parties intend the release contained herein to be a general release
          of any and all claims to the fullest extent permissible by law.

       

      (c)          You acknowledge and agree that as of the date you
          execute this Agreement, you have no knowledge of any facts or circumstances that give rise or could give rise to any claims under any of the laws listed in the preceding Section 4(b).

       

      (d)          By executing this Agreement, you specifically release
          all claims relating to your employment and its termination under the ADEA, a United States federal statute that, among other things, prohibits discrimination on the basis of age in employment and employee benefit plans.

       

      (e)          Notwithstanding the foregoing, nothing in this
          Agreement shall be a waiver of: (i) your rights with respect to payment of amounts under this Agreement, (ii) your right to benefits due to terminated employees under any employee benefit plan of the Company or any other member of the Company
          Group in which you participate (excluding the Offer Letter and any severance or similar plan or policy), in accordance with the terms thereof (including your rights to elect COBRA coverage), (iii) any claims that cannot be waived by law
          including, without limitation any claims filed with the Equal Employment Opportunity Commission, the U.S. Department of Labor, or claims under the ADEA that arise after the date of this Agreement or (iv) your right of indemnification as provided
          by, and in accordance with the terms of, the Company’s by-laws or a Company insurance policy providing such coverage, as any of such may be amended from time to time.

       

      
        

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      (f)          You acknowledge and agree that by virtue of the
          foregoing, you have waived any relief available to you (including without limitation, monetary damages, equitable relief and reinstatement) under any of the claims and/or causes of action waived in this Section 4. Therefore you agree that you
          will not accept any award or settlement from any source or proceeding (including but not limited to any proceeding brought by any other person or by any government agency) with respect to any claim or right waived in this Agreement.

       

      5.           Knowing and Voluntary Waiver.  You expressly acknowledge and agree that you:

       

      (a)          Are able to read the language, and understand the
          meaning and effect, of this Agreement;

       

      (b)          Have no physical or mental impairment of any kind
          that has interfered with your ability to read and understand the meaning of this Agreement or its terms, and that you are not acting under the influence of any medication, drug or chemical of any type in entering into this Agreement;

       

      (c)          Are specifically agreeing to the terms of the release
          contained in this Agreement because the Company has agreed to your continued employment during the Transition Period as described in Section 1 above and to provide you the severance payments and benefits (as set forth on Schedule I attached hereto), the Equity Treatment and such other payments and benefits set forth on Schedule I
          and described in Section 3 above (collectively, the “Consideration”), which the Company has agreed to provide because of your agreement
          to accept it in full settlement of all possible claims you might have or ever had, and because of your execution of this Agreement and the Second Release Agreement;

       

      (d)          Acknowledge that but for your execution of this
          Agreement and the Second Release Agreement, you would not be entitled to the Consideration;

       

      (e)          Understand that, by entering into this Agreement, you
          do not waive rights or claims under ADEA that may arise after the date you execute this Agreement;

       

      (f)          Had or could have the entire Review Period (as
          defined below) in which to review and consider this Agreement, and that if you execute this Agreement prior to the expiration of the Review Period, you have voluntarily and knowingly waived the remainder of the Release Period (as defined below);

       

      (g)          Were advised to consult with your attorney regarding
          the terms and effect of this Agreement; and

       

      (h)          Have signed this Agreement knowingly and voluntarily.

       

      
        

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      6.            No Suit.  You represent and warrant that you have not previously filed, and to the maximum extent permitted by law agree that you will not file, a complaint, charge or lawsuit against any of the Company Parties
          regarding any of the claims released herein.  If, notwithstanding this representation and warranty, you have filed or file such a complaint, charge or lawsuit, you agree that you shall cause such complaint, charge or lawsuit to be dismissed with
          prejudice and shall pay any and all costs required in obtaining dismissal of such complaint, charge or lawsuit, including without limitation the attorneys’ fees of any of the Company Parties against whom you have filed such a complaint, charge,
          or lawsuit.

       

      7.            No Re-Employment. You hereby agree to waive any and all claims to re-employment with the Company or any other member of the Company Group. You affirmatively agree not to seek further employment with the Company or any
          other member of the Company Group. For clarity, the Company Group does not include Kohlberg Kravis and Roberts & Co. L.P. (“KKR”).

       

      8.            Successors and Assigns.  The provisions hereof shall inure to the benefit of your heirs, executors, administrators, legal personal representatives and assigns and shall be binding upon your heirs, executors,
          administrators, legal personal representatives and assigns.

       

      9.           Severability.  If any provision of this Agreement shall be held by any court of competent jurisdiction to be illegal, void or unenforceable, such provision shall be of no force and effect.  The illegality or
          unenforceability of such provision, however, shall have no effect upon and shall not impair the enforceability of any other provision of this Agreement.

       

      10.          Non-Disparagement.

       

      (a)          You agree that you will make no disparaging or
          defamatory comments regarding any member of the Company Group, KKR and its affiliates, or their respective current or former directors, officers or employees in any respect. KKR is a third-party beneficiary to this Agreement with respect to this
          Section 10(a) and is entitled to the rights and benefits under this Section 10(a) and may enforce the provisions of this Section 10(a) as if it were a party hereto.

       

      (b)          The Company agrees to promptly instruct each officer
          and director of the Company to refrain from making any disparaging or defamatory comments regarding you in any respect.

       

      (c)          Notwithstanding this Section 10, you and the Company
          will be entitled to describe in general terms your responsibilities and roles while employed by the Company and that you and the Company mutually agreed to your separation from the Company.  Your obligations and those of the Company under this
          Section 10 shall not apply to disclosures required by applicable law, regulation or order of a court or governmental agency.

       

      11.          Cooperation.

       

      (a)          You agree that you will provide reasonable
          cooperation to the Company and/or any other member of the Company Group and its or their respective counsel in connection with any investigation, administrative proceeding or litigation relating to any matter that occurred during your employment
          in which you were involved or of which you have knowledge.  The Company agrees to reimburse you for reasonable out-of-pocket expenses incurred at the request of the Company with respect to your compliance with this paragraph.

       

      
        

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      (b)          You agree that, in the event you are subpoenaed by
          any person or entity (including, but not limited to, any government agency) to give testimony or provide documents (in a deposition, court proceeding or otherwise) which in any way relates to your employment by the Company and/or any other member
          of the Company Group, you will give prompt notice of such request to the Company’s General Counsel, Andy Schiesl (or his successor or designee) and will make no disclosure until the Company and/or the other member of the Company Group have had a
          reasonable opportunity to contest the right of the requesting person or entity to such disclosure.

       

      12.          Continuing Obligations.  You acknowledge that, in accordance with the terms of the MEP Grant Documents, the Omnibus Plan and LTI Grant Agreements (each as defined in Schedule I attached hereto), you are subject to certain transfer restrictions relating to Common Stock, Options and RSUs and other restrictive covenants provided therein, and agree to comply at all time with the terms and
          conditions contained therein.

       

      13.          Confidentiality.  The terms and conditions of this Agreement are and shall be deemed to be confidential, and shall not be disclosed by you or the Company to any person or entity without the prior written consent of the
          other party, except if required by law, and to your or the Company’s, as applicable, accountants, attorneys and/or immediate family, provided that, to the maximum extent permitted by applicable law, rule, code or regulation, they agree to
          maintain the confidentiality of the Agreement.

       

      14.          Return of Property.  You agree that you will promptly return to the Company all property belonging to the Company and/or any other member of the Company Group, including but not limited to all proprietary and/or
          confidential information and documents (including any copies thereof) in any form belonging to the Company, cell phone, computer, keys, card access to the building and office floors, Employee Handbook, phone card, computer user name and password,
          disks and/or voicemail code; provided, that you shall be entitled to retain your cell phone once all proprietary and/or confidential information and documents belonging to the Company have been removed from such devices. Your cell phone account
          will be transferred to you promptly following the Termination Date. You further acknowledge and agree that the Company shall have no obligation to provide the Consideration referred to in Section 3 above unless and until you have returned all
          items requested by the Company to be returned within ten (10) days of such request.

       

      15.          Company Remedies.  In addition to any other rights or remedies the Company may have under law or equity, if you violate any of Sections 10 through 14 hereof, the Company has the right at its sole discretion to terminate
          its obligation to provide the payments and benefits set forth on Schedule I and/or comply with the Equity Treatment.

       

      16.          Non-Admission.  Nothing contained in this Agreement will be deemed or construed as an admission of wrongdoing or liability on the part of you or any member of the Company Group.

       

      
        

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      17.          Section 409A. You and the Company agree that the payments and/or benefits provided under this Agreement are intended to be exempt from or to comply with Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) to the extent necessary to avoid the incurrence of adverse tax consequences under Section 409A (including, for the avoidance
          of doubt, by requiring that the payment of any severance payments or benefits due hereunder be deferred until the date that is six months following the Termination Date, to the extent such delay is required to comply with Section 409A), and to
          the maximum extent permitted, this Agreement shall be interpreted to be consistent with such intent. Each payment made under this Agreement shall be designated as a “separate payment” within the meaning of Section 409A. Notwithstanding the
          foregoing, neither the Company, any member of the Company Group nor any of their employees or representatives shall have any liability to you to the extent that any payment or benefit hereunder is determined to be subject to any tax or interest
          under Section 409A.

       

      18.          Entire Agreement.  This Agreement constitutes the entire understanding and agreement of the parties hereto regarding the termination of your employment.  Except as provided in this Agreement, this Agreement supersedes all
          prior negotiations, discussions, correspondence, communications, understandings and agreements between the parties relating to the subject matter of this Agreement.

       

      19.          Taxes.  The Company may withhold from any payments made under this Agreement all applicable taxes, including but not limited to income, employment, and social insurance taxes, as shall be required by law.  You acknowledge
          and represent that the Company has not provided any tax advice to you in connection with this Agreement and have been advised by the Company to seek tax advice from your own tax advisors regarding this Agreement and payments and benefits that may
          be made to you pursuant to this Agreement.

       

      20.          Governing Law; Jurisdiction.  EXCEPT WHERE PREEMPTED BY FEDERAL LAW, THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH FEDERAL LAW AND THE LAWS OF THE STATE OF DELAWARE, APPLICABLE TO AGREEMENTS MADE
          AND TO BE PERFORMED IN THAT STATE.  EACH PARTY TO THIS AGREEMENT HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY IN CONNECTION WITH ANY SUIT, ACTION OR PROCEEDING UNDER OR IN CONNECTION WITH THIS AGREEMENT.

       

      21.          Opportunity for Review and Acceptance. You have through the twenty-first (21st) day following the Execution Date (the “Review Period”) to review and consider this Agreement. To accept this Agreement, and the terms and conditions contained herein, prior to the expiration of the Review Period, you must execute and date this Agreement
          where indicated below and return the executed copy of the Agreement to the Company, to the attention of the Company’s General Counsel, Andy Schiesl. Notwithstanding anything contained herein to the contrary, this Agreement will not become
          effective or enforceable for a period of seven (7) calendar days following the date of its execution (the “Revocation Period”), during
          which time you may revoke your acceptance of this Agreement by notifying the General Counsel, in writing. To be effective, such revocation must be received by the Company no later than 5:00 p.m. Central Time on the seventh (7th)
          calendar day following its execution. Provided that the Agreement is executed and you do not revoke it, the eighth (8th) day following the date on which this Agreement is executed shall be its effective date. In the event of your
          failure to execute and deliver this Agreement prior to the expiration of the Review Period, or otherwise revoke this Agreement during the Revocation Period, this Agreement will be null and void and of no effect, and the Company will have no
          obligation hereunder.

       

      *          *          *

       

        

      
        

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      IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date set forth below.

       

      	 	
              GARDNER DENVER HOLDINGS, INC.

            
	 	 	 
	 	By: 

            	
              /s/ Vicente Reynal

            	 
	 	 	
              Name: Vicente Reynal

            	 
	 	 	
              Title: Chief Executive Officer and Director (Principal Executive Officer)

            

      

      	

            	
              /s/ Neil D. Snyder

            
	

            	
              Neil Snyder

            
	 	 

      	

            	
              Dated:

            	
              October 28, 2019

            

      

      

      
        

        
          

        

      

      Schedule I

      

      

      Travel Reimbursement and Severance Payments and Benefits

      

      

      Travel Reimbursement

       

      Reimbursement will be made for reasonable commuting expenses that are consistent with the Company’s travel policies, have been submitted timely and with appropriate
        receipts (consistent with such policies), and subject to the following restrictions:

       

      (a) Flights:  will only reimburse for economy tickets (not economy plus or comfort) purchased at least 14 days in advance and for any airline costs
        associated with flight changes requested by the Company;

       

      (b) Meals: no meals, food or drink will be reimbursed; and

       

      (c) Travel: will reimburse for the cost of an uber x between home and MSP airport and between the Company’s headquarters and MKE airport;

       

      (d) Lodging:  Corporate apartment and related utilities consistent with past practice, or other lodging if the corporate apartment is terminated plus a
        reimbursement of costs of moving personal property from corporate apartment capped at $2,000; and

       

      (e)  No other expenses will be reimbursed.

       

      Severance Payment Calculation:

       

      The aggregate severance payment payable to you will be equal to $687,627.

       

      Timing of Severance Payment:

       

      The severance payment will be paid as follows: (i) a total of $425,000 will be paid to you in equal installments of $35,416 each on the Company’s regular payroll schedule
        over the one (1)-year period following the Termination Date (the “Severance Period”) with payments starting on the first regularly
        scheduled payroll date following the Termination Date (provided, however, that any installment that would otherwise be paid prior to the effective date of the Second Release Agreement shall be deferred until the first regularly scheduled payroll
        date following the effective date of the Second Release Agreement); and (ii) a lump sum of $262,627 which will be payable to you on or before the first regularly scheduled payroll date following the effective date of the Second Release Agreement.

       

      
        

        
          

        

      

      
      Benefit Continuation:

      

      

      Subject to a timely election of COBRA continuation coverage and your continued payment of the COBRA premiums, during the Severance Period (or such earlier time that you
        commence employment with another employer and are eligible for group health plan coverage at such employer), you will receive continued group medical plan coverage under COBRA at active employee rates and the Company will pay the employer portion
        of the premiums.

      

      

      Company Provided Property:

      

      

      The Company will release ownership of your company provided cell phone and cell number to you.

      

      

      MIP Bonus 2019:

      

      

      Your participation in any Company bonus plan, including but not limited to the Management Incentive Plan (“MIP”), will cease as of the Termination Date. You will not be eligible for any incentive bonus under the MIP or otherwise in 2019.

      

      

      Taxes:

      

      

      All severance payments and benefits are subject to applicable withholdings per Section 19 of the Agreement.

      

      

      Equity Treatment:

      

      

      Long Term Incentive Plan:  All equity awards granted to you under the Company’s 2017 Omnibus
        Incentive Plan (the “Omnibus Plan”) will vest and remain outstanding in accordance with the terms thereof and the grant agreements issued
        thereunder (“LTI Grant Agreements”). With respect to the LTI Grant Agreements, your termination of employment described Section 1 of the
        Agreement and for purposes of determining the Equity Treatment pursuant to Section 3 of the Agreement and this Schedule I will be treated as a “Qualifying Termination” (as defined in the LTI Grant Agreements), including but not limited to the
        provisions related to accelerated vesting of a portion of such equity awards in the event of your Qualifying Termination and your ability to exercise your vested Options for up to ninety (90) days following the Termination Date (or until the
        earlier expiration date of the term of the applicable Option). You acknowledge and agree that you remain subject to the terms set forth in the Omnibus Plan and LTI Grant Agreements including without limitation the restrictive covenants set forth
        therein.

      

      

      
        

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      Management Equity Plan:

      

      

      1.            Vesting. 
          You currently hold Options granted to you under the Company’s 2013 Stock Incentive Plan for Key Employees of Gardner Denver Holdings, Inc. (f/k/a Renaissance Parent Corp.) and its Subsidiaries (the “2013 Stock Incentive Plan”), the Stock Option Agreement dated as of May 10, 2016 (the “May Stock Option Agreement”) and the Stock Option Agreement dated as of December 9, 2016 (the “December Stock
            Option Agreement” and together with the 2013 Stock Incentive Plan and the May Stock Option Agreement, the “MEP Grant Documents”) that will be unvested as of the Termination Date (the “MEP Unvested Options”).  Notwithstanding anything to the contrary in the MEP Grant Documents, and provided you continue to comply with the terms of the
          Agreement (including without limitation Sections 10 through 14 of the Agreement), the MEP Unvested Options will not be forfeited on the Termination Date and
          instead will continue to vest in accordance with the terms of the MEP Grant Documents as if you remained an employee of the Company.

      

      

      2.            Exercise

              Period. Notwithstanding anything to the contrary in the MEP Grant Documents, and provided you continue to comply with the terms of the Agreement (including without limitation Sections 10 through 14 of the Agreement), you may elect
          to exercise the vested portion of any Options granted under the MEP Grant Documents (including any MEP Unvested Options that vest after the Termination Date consistent with Section 1 above) for up to one hundred eighty (180) days following the
          date the final tranche of MEP Unvested Options vests regardless of which such Option vests last pursuant to the terms of the MEP Grant Documents (or until the earlier expiration date of the applicable Option).

      

      

      3.            Net
              Exercise.  If you elect to exercise your Options prior to December 9, 2021 and prior to the expiration date or forfeiture of any such Options, the Company hereby agrees that provided you continue to comply with the terms of the
          Agreement (including without limitation Sections 10 through 14 of the Agreement), you may satisfy payment of the exercise price and your minimum tax withholding obligation through the withholding of shares of Common Stock in accordance with
          Section 4.3 of the May Stock Option Agreement and December Stock Option Agreement, as applicable. Any exercise of your Options on or after December 9, 2021 may not be net exercised as described in the foregoing sentence, and you must satisfy
          payment of the exercise price and your minimum tax withholding obligation by other means as provided in the applicable MEP Grant Documents.

      

      

      4.            Continuing

              Obligations.  You acknowledge and agree that you remain subject to (i) the terms set forth in the MEP Grant Documents, issued thereunder, including without limitation the transfer restrictions related to Common Stock, Options and
          RSUs, and all restrictive covenants set forth therein; and (ii) all applicable Company’s policies including without limitation the Company’s Securities Trading Policy.

      

      

      5.           Ability

              to Transfer Common Stock.  From time to time, the Company may, but is in no way obligated to, fully or partially waive the transfer restrictions set forth in the MEP Grant Documents relating to the Common Stock for all, or almost
          all, MEP participants.  The Company agrees that it will treat you the same as it treats all other MEP participants generally with respect to any such waiver.

       

        

      
        

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      Exhibit A

      

      

      RELEASE AGREEMENT

      

      

      This Release Agreement (this “Agreement”),
        dated as of the date listed below under Executive’s signature, is entered into between Neil Snyder (“Executive”) and Gardner Denver
        Holdings, Inc. (the “Company”).

       

      In consideration of the promises set forth herein, Executive and the Company agree as follows:

       

      1.            Termination Date and Transition Agreement. Executive previously entered into a Transition Agreement with the Company, dated [_____], 2019 (the “Transition Agreement”), pursuant to which Executive’s employment with the Company terminated effective as of [_____], 2019 (the “Termination Date”). Under the terms of the Transition Agreement, Executive shall be entitled to the severance payments and benefits (the “Severance Benefits”) specified under Section 3 of the Transition Agreement and Schedule I attached to the Transition Agreement and continue to remain subject to Sections 10 through 14 of
          the Transition Agreement; provided, that no such Severance Benefits shall be paid or provided if Executive does not timely execute and deliver this Agreement or if Executive revokes this Agreement pursuant to Section 5 below.

       

      2.            Release and Waiver of Claims.

       

      (a)          As used in this Agreement, the term “claims” will
          include all claims, covenants, warranties, promises, undertakings, actions, suits, causes of action, obligations, debts, accounts, attorneys’ fees, judgments, losses and liabilities, of whatsoever kind or nature, in law, equity or otherwise.

       

      (b)          For and in consideration of the Severance Benefits,
          and other good and valuable consideration, Executive, for and on behalf of himself and Executive’s heirs, administrators, executors and assigns, effective as of the date hereof, does fully and forever release, remise and discharge the Company,
          and any other member of the Company Group, together with their respective current and former officers, directors, partners, members, shareholders, fiduciaries, counsel, employees and agents (collectively, and with the Company, the “Company Parties”) from any and all claims whatsoever up to the date hereof which Executive had, may have had, or now have against the Company
          Parties, for or by reason of any matter, cause or thing whatsoever, including any claim arising out of or attributable to Executive’s employment or the termination of Executive’s employment with the Company, whether for tort, breach of express or
          implied employment contract, intentional infliction of emotional distress, wrongful termination, unjust dismissal, defamation, libel or slander, or under any federal, state or local law dealing with discrimination based on age, race, sex,
          national origin, handicap, religion, disability or sexual orientation.  This release of claims includes, but is not limited to, all claims arising under the Age Discrimination in Employment Act (“ADEA”), Title VII of the Civil Rights Act, the Americans with Disabilities Act, the Civil Rights Act of 1991, the Family Medical Leave Act and the Equal Pay Act, each as may be amended
          from time to time, and all other federal, state and local laws, the common law and any other purported restriction on an employer’s right to terminate the employment of employees. The parties intend the release contained herein to be a general
          release of any and all claims to the fullest extent permissible by law.

       

      
        

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      (c)          Executive acknowledges and agrees that as of the date
          hereof, Executive has no knowledge of any facts or circumstances that give rise or could give rise to any claims under any of the laws listed in Section 2(b) above.

       

      (d)          By executing this Agreement, Executive specifically
          releases all claims relating to Executive’s employment and termination of employment under the ADEA, a United States federal statute that, among other things, prohibits discrimination on the basis of age in employment and employee benefit plans.

       

      (e)          Notwithstanding the foregoing, nothing in this
          Agreement shall be a waiver of: (i) Executive’s rights with respect to the Severance Benefits, (ii) Executive’s right to benefits due to terminated employees under any employee benefit plan of the Company or any other member of the Company Group
          in which Executive participated (excluding the offer letter, dated December 18, 2015, that sets forth the terms of Executive’s employment with the Company and any severance or similar plan or policy), in accordance with the terms thereof
          (including Executive’s right to elect COBRA coverage), (iii) any claims that cannot be waived by law including, without limitation any claims filed with the Equal Employment Opportunity Commission, the U.S. Department of Labor, or claims under
          the ADEA that arise after the date of this Agreement or (iv) Executive’s right of indemnification as provided by, and in accordance with the terms of, the Company’s by-laws or a Company insurance policy providing such coverage, as any of such may
          be amended from time to time.

       

      (f)          Executive acknowledges and agrees that by virtue of
          the foregoing, Executive has waived any relief available to him (including without limitation, monetary damages, equitable relief and reinstatement) under any of the claims and/or causes of action waived in this Section 2. Therefore Executive
          agrees that Executive will not accept any award or settlement from any source or proceeding (including but not limited to any proceeding brought by any other person or by any government agency) with respect to any claim or right waived in this
          Agreement.

       

      3.          Knowing and Voluntary Waiver.  Executive expressly acknowledges and agrees that Executive:

       

      (a)          Is able to read the language, and understand the
          meaning and effect, of this Agreement;

       

      (b)          Has no physical or mental impairment of any kind that
          has interfered with Executive’s ability to read and understand the meaning of this Agreement or its terms, and that Executive is not acting under the influence of any medication, drug or chemical of any type in entering into this Agreement;

       

      (c)          Is specifically agreeing to the terms of the release
          contained in this Agreement because the Company has agreed to provide the Severance Benefits (the “Consideration”), which the Company has
          agreed to provide because of Executive’s agreement to accept it in full settlement of all possible claims that Executive might have or ever had, and because of Executive’s execution of this Agreement;

       

      
        

        -5-

        
          

        

      

      (d)          Acknowledges that but for Executive’s execution of
          this Agreement, Executive would not be entitled to the Consideration;

       

      (e)          Understands that, by entering into this Agreement,
          Executive does not waive rights or claims under ADEA that may arise after the date Executive executes this Agreement;

       

      (f)          Had or could have the entire Review Period (as
          defined below) in which to review and consider this Agreement, and that if Executive executes this Agreement prior to the expiration of the Review Period, Executive has voluntarily and knowingly waived the remainder of the Release Period (as
          defined below);

       

      (g)          Was advised to consult with Executive’s attorney
          regarding the terms and effect of this Agreement; and

       

      (h)          Has signed this Agreement knowingly and voluntarily.

       

      4.           No Suit.  Executive represents and warrants that Executive has not previously filed, and to the maximum extent permitted by law agrees that Executive will not file, a complaint, charge or lawsuit against any of the
          Company Parties regarding any of the claims released herein.  If, notwithstanding this representation and warranty, Executive has filed or files such a complaint, charge or lawsuit, Executive agrees that he shall cause such complaint, charge or
          lawsuit to be dismissed with prejudice and shall pay any and all costs required in obtaining dismissal of such complaint, charge or lawsuit, including without limitation the attorneys’ fees of any of the Company Parties against whom Executive has
          filed such a complaint, charge, or lawsuit.

       

      5.           Opportunity for Review and Acceptance. Executive acknowledges that Executive has through the twenty-first (21st) day following the Termination Date (the “Review Period”) to review and consider this Agreement. To accept this Agreement, and the terms and conditions contained herein, prior to the expiration of the Review Period, Executive must
          execute and date this Agreement where indicated below and return the executed copy of the Agreement to the Company, to the attention of the Company’s General Counsel, Andy Schiesl. Notwithstanding anything contained herein to the contrary, this
          Agreement will not become effective or enforceable for a period of seven (7) calendar days following the date of its execution (the “Revocation
            Period”), during which time Executive may revoke his acceptance of this Agreement by notifying the General Counsel, in writing. To be effective, such revocation must be received by the Company no later than 5:00 p.m. Central Time on the
          seventh (7th) calendar day following its execution. Provided that the Agreement is executed and Executive does not revoke it, the eighth (8th) day following the date on which this Agreement is executed shall be its effective
          date. In the event of Executive’s failure to execute and deliver this Agreement prior to the expiration of the Review Period, or Executive otherwise revokes this Agreement during the Revocation Period, this Agreement will be null and void and of
          no effect, and the Company will have no obligation hereunder or to pay or provide the Severance Benefits.

       

      
        

        -6-

        
          

        

      

      IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date listed below under Executive’s signature.

       

      	

            	
              GARDNER DENVER HOLDINGS, INC.

            
	 	 
	

            	
              By:

            	 
	 	 	
              Name:

            
	 	 	
              Title:

            

      

      

      	 	
              EXECUTIVE

            
	 	 
	

            	 
	 	
              Neil Snyder

            
	 	 

      	

            	
              Dated:Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is
made this 25th day of October, 2019 (the “Effective Date”), by and between Planet Green Holdings Corp. (the “Company”),
and Bin Zhou (the “Executive”).

 

WHEREAS, the Company desires to employ
the Executive and the Executive desires to be employed by the Company on the terms and conditions herein provided.

 

NOW, THEREFORE, in consideration
of the mutual agreements contained herein and intending to be legally bound hereby, the parties hereto hereby agree as follows:

 

		1.	Employment. The Company hereby agrees to employ the Executive, and the Executive hereby agrees to be employed by the
Company, on the terms and conditions set forth herein.

 

		2.	Term. The employment of the Executive by the Company shall commence on the Effective Date and terminate one year from
the Effective Date (the “Initial Term”), unless sooner terminated as hereinafter provided. Following the Initial Term,
this Agreement shall be automatically renewed for successive additional one (1) year terms (each a “Renewal Term” and
together with the Initial Term, the “Term”), unless either party gives prior written notice of non-renewal to the other
party at least sixty (60) days prior to the termination date of the Initial Term or the then current Renewal Term, as applicable.

 

		3.	Positions and Duties. The Executive shall serve as Chief Executive Officer of the Company and shall have such duties
and responsibilities commensurate with such positions and such additional duties and responsibilities commensurate with such position
as may be assigned to him from time to time by the Company’s Board of Directors and executives. Executive shall have the
authority as is commensurate for performance of his duties and responsibilities, subject to the terms of this Agreement and to
the authority of the Company’s Board of Directors. During the Term, the Executive shall devote his full business time, attention,
skill and efforts to the business and affairs of the Company. Notwithstanding the foregoing, the Executive may engage reasonable
amounts of time in charitable, educational, religious, civic and professional activities, provided that such activities do not
materially interfere with the services required to be rendered to the Company hereunder and do not violate the restrictive covenants
set forth in Sections 8, 9 and 10 below.

 

		4.	Compensation and Related Matters. For services rendered by the Executive hereunder during the Term, the Executive shall
be compensated as follows:

 

		(a)	Base Salary. The Company shall pay the Executive a base salary (the “Base Salary”) to be determined, from
time to time, by the Company’s Board of Directors (or the Compensation Committee of the Board of Directors). The initial
Base Salary for the first year following the Effective Date shall be $96,000 per annum. The Base Salary shall be payable in accordance
with the Company’s customary payroll practices. The Company shall review the Executive’s performance and Base Salary
at least annually during normal Company salary reviews, and any adjustments to the Base Salary shall be determined by the Company’s
Board of Directors (or the Compensation Committee of the Board of Directors), in its sole discretion.

 

     

     

    

 

		(b)	Benefits. The Executive shall be entitled to participate in all compensation and employee benefit plans or programs
generally available to all employees of the Company, to the fullest extent permissible under the general terms and provisions of
such plans or programs and in accordance with the provisions thereof including, without limitation, incentive compensation, bonus,
group hospitalization, health, dental care, life, disability or other insurance, tax-qualified and nonqualified pension, savings,
thrift and profit-sharing plans, termination or severance pay programs, sick-leave plans, travel or accident insurance, automobile
allowance or automobile lease plans, and executive continent compensation plans, and equity compensation programs, including, without
limitation, capital accumulation programs, stock purchase, restricted stock and stock option plans (such plans and programs, collectively,
the “Employee Benefit Plans”).

 

		(c)	Expenses. The Company shall reimburse the Executive for all reasonable out-of-pocket travel or other business expenses
actually incurred or paid by the Executive in connection with the performance of his duties and obligations under this Agreement,
subject to the Executive’s presentation of itemized vouchers, receipts and documentation and consistent with the reimbursement
policies and procedures as the Company may, from time to time, establish for senior officers.

 

		(d)	Vacation. Executive shall be entitled to four weeks of paid vacation per year. The Executive shall take his vacation
at such time or times as the Executive and the Company shall determine to be mutually convenient. In addition, Executive shall
be entitled to all other holidays, sick days and personal days as are consistent with the Company’s policies in effect from
time to time.

 

		(e)	Directors and Officers Insurance. During the Term, the Company shall maintain insurance covering its directors and officers,
including the Executive, against lawsuits for errors, omissions and other liabilities, containing minimum coverage amount of $5,000,000
in the aggregate; provided, however, that the amount of the insurance coverage may be adjusted by the Company with the Executive’s
approval.

 

		5.	Early Termination. This Agreement may terminate prior to expiration of the Initial Term or the then current Renewal
Term as provided in accordance with Section 2 above, or by reason of any of the following:

 

		(a)	By Company for Cause. The Company may terminate this Agreement for “Cause” (as defined below). For purposes
of this Agreement, “Cause” shall mean: (i) the gross and willful misconduct on the part of the Executive in connection
with the performance of his duties and responsibilities hereunder; (ii) the breach by Executive of any material provision of this
Agreement, which breach shall remain uncured by Executive thirty (30) days after receipt of the Company’s notice of breach
(provided, however, that if, in the reasonable judgment of the Company, such breach is not curable, then the Company is not obligated
to provide such thirty (30) day cure period and shall have the right to immediately terminate this Agreement); (iii) commission
by Executive of fraud, embezzlement, misrepresentation or an act of dishonesty in connection with his duties hereunder; (iv) the
commission of a felony or a misdemeanor involving moral turpitude; (v) Executive has willfully and repeatedly refused or failed
to follow specific, lawful and reasonable directions of the Board of Directors and the failure of the Executive to remedy such
refusal or failure within thirty (30) days following receipt of the Company’s written notice thereof; or (vi) the violation
by Executive of any statutory or common law duty of loyalty to the Company as determined in a final non-appealable judgment by
a court of competent jurisdiction.

 

    2

     

    

 

		(b)	By Executive for Good Reason. The Executive may terminate this Agreement for “Good Reason” (as defined below).
For purposes of this Agreement, “Good Reason” shall mean: the breach by the Company of any material provision of this
Agreement, which breach shall remain uncured by the Company thirty (30) days after receipt of the Executive’s notice of breach.

 

		(c)	Death or Disability of Executive. This Agreement shall terminate immediately upon the death of Executive or the Company’s
determination of Executive’s “Disability” (as defined below). For purposes of this Agreement, “Disability”
shall mean: (i) that the Executive is permanently disabled so as to qualify for full benefits under the Company’s then-existing
disability insurance policy; or (ii) if the Company does not maintain any such disability policy on the date of determination,
the inability of the Executive to work for a period of six (6) full calendar months during any nine (9) consecutive calendar month
period due to illness or injury of a physical or mental nature, supported by the completion by the Executive’s attending
physician or a doctor for the Company or its insurer of a medical certification form outlining the disability and treatment, if
at the end of such disability period, there is no reasonable probability of Executive promptly resuming full-time service pursuant
to the terms of this Agreement.

 

		6.	Severance Provisions Generally.

 

		(a)	Any termination of Executive’s employment by the Company shall be communicated by written Notice of Termination to Executive
and any termination by the Executive of his employment shall be communicated by written Notice of Termination to the Company. For
purposes of this Agreement, a “Notice of Termination” shall mean a notice that shall indicate the specific termination
provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide
a basis for termination of the Executive’s employment under the provision so indicated.

 

    3

     

    

 

		(b)	For purposes of this Agreement, the “Date of Termination” shall mean (i) if the Executive’s employment is
terminated by his death, the date of his death, (ii) if the Executive’s employment is terminated for Cause or without Cause
by the Company, the date specified in the Notice of Termination, (iii) if the Executive’s employment is terminated as a result
of a Disability, the date on which the Company determines that the Executive is Disabled, and (iv) if the Executive terminates
his employment for Good Reason or otherwise voluntarily terminates his employment without Good Reason, the date specified in the
Notice of Termination.

 

		(c)	If this Agreement is terminated by the Company for Cause or by reason of Executive’s death or Disability or if this Agreement
is terminated by the Executive without Good Reason, then the Company shall pay Executive the following:

 

		(i)	Accrued and unpaid Base Salary up to and including the
Date of Termination;

 

		(ii)	Accrued and unpaid benefits to the Executive under Employee
Benefit Plans up to and including the Date of Termination; and

 

		(iii)	In the case of termination by reason of Executive’s
death, the retention of the Stock Option to the extent vested as of immediately prior to the Date of Termination. For the avoidance
of doubt, any unvested portion of the Stock Option shall be deemed forfeited and cancelled as of the Date of Termination in the
case of termination by the Company for Cause or by Executive without Good Reason.

 

		(d)	If this Agreement is terminated by the Company (other than a termination by the Company for Cause or by reason of Executive’s
death or Disability) or by the Executive with Good Reason, then the Company shall pay Executive the applicable severance payments
as set forth in Section 7. Said severance payments shall be payable in equal installments every two weeks over the applicable severance
period in accordance with the Company’s customary payroll practices.

 

		(e)	Executive shall not be required to mitigate (by seeking any other employment, self-employment or any other income producing
pursuit) any amounts or benefits payable to him upon termination of this Agreement.

 

		(f)	Executive shall not be required to set off against any amounts or benefits payable to him upon termination of his employment
under this Agreement, any compensation for other employment, consultancy or unemployment benefits received while he is receiving
payments and benefits under this Agreement.

 

    4

     

    

 

		7.	Severance Payments. The Company shall provide Executive the following severance:

 

		(a)	Accrued and unpaid Base Salary up to and including the Date of Termination;

 

		(b)	Accrued and unpaid benefits to the Executive under Employee Benefit Plans up to and including the Date of Termination;

 

		(c)	The retention of the Stock Option to the extent vested as of immediately prior to the Date of Termination;

 

		(d)	Continued provision of Base Salary for three (3) months following the Date of Termination;

 

		8.	Confidentiality.

 

		(a)	“Confidential Information” shall mean all information (in written, oral or electronic form) of the Company and
its affiliates that is designated by the Company as being confidential or should have been reasonably understood by Executive to
be confidential. Confidential Information shall include, without limitation, all documentation provided by the Company, including
but not limited to, all inventions, technology, trade secrets, know-how, technical information and data, improvements, formulas,
research, development, laboratory notebooks, processes, diagrams, designs, drawings, engineering, test procedures and specifications,
manufacturing specifications, configurations, packaging, search results, and any documents or materials relating thereto, business,
financial, accounting, insurance, and marketing information, analyses, forecasts, predictions or projections, documents, systems,
specifications, research and development information, prices, proposed transaction terms and other commercial information and/or
trade and business secrets.

 

		(b)	Confidential Information shall not include information that: (i) is or becomes public domain through no action on the part
of Executive; (ii) is lawfully obtained from any source other than the Company, without an obligation to keep it confidential;
(iii) is previously known to Executive without an obligation to keep it confidential; (iv) is required to be disclosed pursuant
to any applicable law, regulation, judicial or administrative order or decree, or request by other regulatory organization having
authority pursuant to the law; provided, however, that Executive shall first have given prior written notice to the Company so
that the Company may seek a protective order requiring that the Confidential Information not be disclosed; or (v) is independently
developed by Executive without the use of the Confidential Information.

 

    5

     

    

 

		(c)	Executive hereby agrees that, during the Term and for three (3) years thereafter, he: (i) shall use the Confidential Information
solely in connection with the performance of his duties under this Agreement, and not for any other purpose whatsoever without
the prior express written consent of the Company; (ii) shall not copy, disclose or reveal any of the Confidential Information to
any third party without the prior express written consent of the Company; (iii) shall take strict precautions to maintain the confidentiality
of the Confidential Information received; (iv) shall, within five (5) days of a written request by the Company, destroy or return
any and all copies on any media containing the Confidential Information.

 

		(d)	Unauthorized disclosure or use of Confidential Information may give rise to irreparable injury, which may not be adequately
compensated by damages. In the event of a breach or threatened breach of this Section 8, the Company shall be entitled to a preliminary
injunction and a temporary restraining order restraining the Executive from using or disclosing the Confidential Information or
such other equitable relief as may be necessary to protect the interests of the Company. Such remedy shall be additional to and
not a limitation upon any other remedy which may otherwise be legally available to the Company, including but not limited to a
remedy for actual damages occasioned by the breach of the terms of this Section 8 (which damages shall include costs, expenses
and reasonable attorneys’ fees).

 

		(e)	Executive acknowledges and agrees that he is aware that: (i) the Confidential Information may contain material, non-public
information regarding the Company and/or its affiliates (“Insider Information”) and (ii) the United States securities
laws prohibit any persons who have material, non-public information concerning the Company and/or its affiliates from purchasing
or selling securities of the Company or from communicating such information to any person under circumstances in which it is reasonably
foreseeable that such person is likely to purchase or sell such securities in reliance upon such information. Accordingly, the
Executive acknowledges and agrees to maintain all Confidential Information and material non-public information of the Company and/or
its affiliates. The Executive acknowledges and agrees that he will abide by all laws, rules and regulations relating to the handling
of and acting upon Insider Information (including trading (directly or indirectly) while in possession of Insider Information or
disclosing or utilizing Insider Information in connection with the purchase or sale of securities). Further, the Executive will
not, and will use his best efforts to ensure that his affiliates (and any person acting on their behalf or in concert with them)
will not, trade in the securities of the Company (including any securities convertible into such securities, or any other right
to acquire such securities) on the basis of, or if and while it or its representatives are in possession of Insider Information
until such time as the Company has publicly disclosed such information.

 

    6

     

    

 

		9.	Non-Competition and Non-Solicitation.

 

		(a)	The Executive covenants and agrees that during the Term hereof and for a period of two (2) years following the termination
of his employment hereunder (the “Restricted Period”), that he will not, directly or indirectly, at any time during
the Term and/or the Restricted Period and anywhere within China:

 

		(i)	own, operate, manage, join, control, participate in the
ownership, management, operation or control of, or be paid or employed by, or acquire any securities of, or otherwise become associated
with or provide assistance to, as an employee, consultant, director, officer, shareholder, partner, agent, associate, principal,
representative or in any other capacity, any business entity which engages in any directly competitive line of business in which
the Company is engaged during the Executive’s employment with the Company; provided, however, that the foregoing shall not
prevent the Executive from owning, in the aggregate, an amount not exceeding five percent (5%) of the issued and outstanding voting
securities of any class of any corporation whose voting capital stock traded or listed on a national securities exchange or in
the over-the-counter market; and

 

		(ii)	solicit to employ or engage, for or on behalf of himself
or any third party, any employee, vendor or agent of the Company.

 

		(b)	The Executive hereby agrees that he will not, directly or indirectly, for or on behalf of himself or any third party, at any
time during the Term and/or the Restricted Period, solicit any customers of the Company (and/or its successor) with respect to
products or services directly competitive with products or services then being sold by the Company (and/or its successor).

 

		(c)	If any of the restrictions in this Section 9 shall be held by a court of competent jurisdiction to be unenforceable, illegal
or invalid by reason of the extent, duration or geographical scope thereof or otherwise, then the court making such determination
shall have the right to reduce such extent, duration, geographical scope or other provisions hereof, and this Section 9, in its
reduced form, shall be remain valid, in full force and effect and enforceable in the manner contemplated hereby.

 

		10.	Ownership of Product Ideas and Assignment.

 

		(a)	The Executive will disclose to the Company all Product Ideas. For purposes of this Agreement, “Product Ideas” shall
mean all ideas, potential marketing and sales relationships, inventions, copyrightable expressions, research, plans for products
or services, marketing plans, original works of authorship, know how, trade secrets, information, data, developments, discoveries,
improvements, modifications, technology and designs, whether or not eligible for patent or copyright protection, which relate to
the business of the Company, made, conceived, expressed, developed, or actually or constructively reduced to practice by the Executive
within the scope of Executive's employment, whether solely or jointly with other Company employees or consultants retained by Company
during the Term.

 

    7

     

    

 

		(b)	The Executive acknowledges and agrees that the Product Ideas and any resulting patents or trademarks shall be the exclusive
property of the Company, and that all of said Product Ideas shall be considered as “work made for hire” belonging to
the Company. To the extent any such Product Ideas, under applicable law, may not be considered work made for hire by the Executive
for the Company, the Executive hereby assigns and, upon its creation, automatically and irrevocably assigns to the Company, without
any further consideration, all right, title and interest in and to such Product Ideas, including, without limitation, any copyright,
other intellectual property rights, all contract and licensing rights, and all claims and causes of action of any kind with respect
to such materials. The Company shall have the exclusive right to use the Product Ideas, whether original or derivative, for all
purposes without additional compensation to the Executive. At the Company’s expense, the Executive will assist the Company
to perfect the Company’s rights in the Product Ideas and to protect the Product Ideas throughout the world, including, without
limitation, promptly executing and delivering such patent, copyright, trademark or other applications, assignments, descriptions
and other instruments and to take such actions for and on behalf of the Executive as may be necessary to vest title to and/or defend
or enforce the rights of the Company in the Product Ideas.

 

		11.	Specific Performance; Injunctive Relief. The Company and the Executive each acknowledge and agree that irreparable damage
would occur in the event that the provisions of Sections 8, 9 or 10 of this Agreement were not performed in accordance with its
specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to seek an injunction or
injunctions to prevent breaches of the such provisions of this Agreement and to enforce specifically the terms and provisions thereof
in any court of the United States or any state thereof having jurisdiction, this being in addition to any other remedy to which
they may be entitled at law or equity.

 

		12.	Indemnification. The Company shall indemnify and hold harmless Executive to the maximum extent permitted by the Company’s
Articles of Incorporation, By-Laws, and applicable laws, as amended.

 

		13.	Withholding. The Company shall be entitled to deduct and withhold, from the Base Salary, bonuses, severance payments
and/or any other amounts otherwise payable pursuant to this Agreement, such amounts as the Company determines that it is required
to deduct and withhold under the Internal Revenue Code of 1986, as amended, or any provision of state or local tax law, with respect
to the making of such payment.

 

		14.	Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement other than Section 4 (it being acknowledged by the Parties
that Section 4 is an integral and material part of this Agreement) is held to be invalid, illegal or unenforceable in any respect
under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other
provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such
invalid, illegal or unenforceable provision had never been contained herein.

 

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		15.	Notice.

 

For
the purposes of this Agreement, notices, demands and all other communications provided for in this Agreement shall be in writing
and shall be deemed to have been duly given when personally delivered or (unless otherwise specified) mailed by United States certified
mail, return receipt requested, postage prepaid, or one day after delivery to an overnight air courier guaranteeing next day delivery,
addressed as follows:

 

If to Executive:

 

Bin Zhou

*******@*****.com

 

If to the Company:

 

Planet Green Holdings
Corp.

Suite 200, 9841
Washingtonian Blvd

Gaithersburg, MD
20878

 

		16.	Validity. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity
or enforceability of any other provision of this Agreement, which shall remain in full force and effect.

 

		17.	Assignment. This Agreement may not be assigned by the Executive, but may be assigned by the Company to any successor
to, or assign of, its business and will inure to the benefit and be binding upon any such successor or assign. The term “the
Company” as used throughout this Agreement shall include (i) any successors or assigns of Company, and (ii) any successor,
individual, association, partnership or corporation to which all or substantially all of the business, stock or assets of the Company
shall have been transferred, and (iii) any other corporation into or with which Company shall have or has been merged, consolidated,
reorganized or absorbed, all of whom shall be bound by the provisions of this Agreement, provided that no such assignment, sale
of assets, merger or other such event shall relieve the Company, of its obligations hereunder.

 

		18.	Counterparts. This Agreement may be executed in several counterparts, each of which may be delivered by and among the
parties by facsimile or other electronic transmission and each of which shall be deemed to be an original but all of which together
will constitute one and the same instrument.

 

		19.	Entire Agreement. This Agreement constitutes the entire agreement between the parties pertaining to the subject matter
hereof, and fully supersedes any and all prior agreements between the parties hereto respecting the Executive’s employment.
In addition, no amendment or modification to this Agreement shall be valid unless set forth in writing and signed by each of the
parties.

 

    9

     

    

 

		20.	Headings. The headings contained herein are for reference purposes only and shall not in any way affect the meaning
or interpretation of this Agreement.

 

		21.	Governing Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the
laws of the State of New York without regard to its conflicts of law principles.

 

		22.	Representations.

 

		(a)	Executive’s Representations. Executive hereby represents and warrant to the Company that (i) the execution, delivery
and performance of this Agreement by Executive does not and will not conflict with, breach, violate or cause a default under any
contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which he is bound, (ii) Executive
is not a party to or bound by any employment agreement, non-compete agreement or confidentiality agreement with any other person
or entity, and (iii) upon the execution and delivery of this Agreement by all of the parties hereto, this Agreement shall be valid
and binding obligation of Executive, enforceable in accordance with its terms.

 

		(b)	Company’s Representations. Company hereby represents and warrants to the Executive that (i) the execution, delivery
and performance of this Agreement by Company does not and will not conflict with, breach, violate or cause a default under any
contract, agreement, instrument, order, judgment or decree to which Company is a party or by which Company is bound, (ii) this
Agreement has been duly approved by its Board of Directors (or the Compensation Committee of the Board of Directors) and the undersigned
signatory of the Company has authority to execute this Agreement on behalf of the Company, and (iii) upon the execution and delivery
of this Agreement by all parties hereto, this Agreement shall be the valid and binding obligation of Company, enforceable in accordance
with its terms.

 

		23.	Survival. Sections 6, 7, 8, 9, 10, 11, 12, 13, 14, 16, 17, 21, 22 and 24 shall survive the termination of this Agreement.

 

		24.	Attorneys’ Fees. The parties shall be responsible for their own respective costs and expenses incurred in connection
with negotiation and execution of this Agreement and any dispute involving this Agreement including attorney fees and costs.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties have executed this Employment
Agreement on the date and year first above written.

 

	PLANET GREEN HOLDINGS CORP. 	 
	 	 	 
	By:	/s/ Daqi Cui	 
	Name:	Daqi Cui	 
	Title:	Chief Operating Officer	 

 

EXECUTIVE

 

	/s/ Bin Zhou	 
	Bin Zhou	 

 

 

11

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