Def rate:
Increases the chance of monsters missing you when trying to hit you.

Which in turn leads to you taking less damage from them.

Is based on the opponents hit rate aswell.

Flee rate:
Decreases the chance of monsters hitting you when you are running.

So it increases chances that a mob will miss, is not related to Def rate.

E.G: If I have 50% flee rate, I will dodge 50% (on average) of the attacks. If I increase it, the percentile of misses increases. Non-applicable for boss-mobs.

Min damage UP:
Increases minimum damage output.

E.G: If a skill does 500 damage at it's lowest point and I equip a +10% Min damage item, the lowest possible damage that skill can now deal is increased to 550.

Max critical rate:
Highest base critical rate is 50%. Max crit rate items can heighten this.

E.G: If I wear a suit with +2% Max crit rate, the maximum critical rate I can now achieve is 52%. Anything higher than that will be ineffective.

Add damage:
Gives you some extra damage on top of your normal damage.

1 or 2 slot item drop - X times:
Increases your chance of finding 1 or 2 slotted items in monsters.

E.G: If I had 2.5x 2slot drop I would get double slotted items 2.5x more often.

I.E. 100 on average a day would increase to 250 on average per day.

We hope this was helpful!

Regards
(GA)Mortech & LegendarySannin aka Harsisus.