Company: DHR
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0000313616-25-000081
Chunk: 26

Company: DANAHER CORP /DE/
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 26
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 Global LLC (“Stonehavens” and, together with Joust II and Joust III, the “Joust entities”). Joust II and Stonehavens are controlled by Mitchell Rales, and Joust III is controlled by Steven Rales. Under the management agreements, FJ900 performs aircraft management, pilot services, maintenance, record-keeping, aircraft procurement and disposition and other aviation services for the respective aircraft owned or leased by each of the Joust entities in like manner to the management services provided by FJ900 for Danaher’s aircraft. FJ900 receives no compensation for its services under the management agreements. Having FJ900 perform management services for all of these aircraft enables Danaher and the Joust entities to share certain fixed expenses relating to the use, maintenance, storage, operation and supervision of their respective aircraft and utilize joint purchasing or joint bargaining arrangements where applicable and appropriate, allowing each party to benefit from efficiencies of scale and cost savings. We believe that this cost-sharing arrangement results in lower costs to Danaher than if we incurred these fixed costs on a stand-alone basis. Under the management agreements, FJ900 prorates all shared expenses annually among the Joust entities and Danaher based primarily on each party’s flight hours logged for the year. With respect to the year ended December 31, 2024, the Joust entities together paid FJ900 approximately $4.9 million for the Joust entities’ share of the fixed airplane management expenses shared with Danaher.

In addition, Danaher is party to substantially identical airplane interchange agreements with each of the Joust entities with respect to each respective aircraft indirectly owned by Danaher and by each of the Joust entities. Under each interchange agreement, the applicable Joust entity has agreed to lease its aircraft to Danaher and Danaher has agreed to lease the respective Danaher aircraft to the applicable Joust entity, in each case on a non-exclusive basis. Neither party is charged for its use of the other party’s aircraft, the intent being that over the life of the contract each party’s usage of the other party’s aircraft will be generally equal. With respect to the year ended December 31, 2024, the incremental value of the use of the Danaher aircraft by the Joust entities, net of the incremental value of the use of the Joust entities’ aircraft by Danaher, was approximately $135,000.

Danaher licensed, at fair market value, a suite from