Document:

Employment Agreement

 Exhibit 10.27 
  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement (the “Agreement”) is made and entered into effective as of November 15, 2005 (the “Effective Date”), by
and between Stephen Davis (“Employee”) and InfoSpace, Inc. (the “Company”). 
  
 In consideration of the mutual covenants herein contained, the employment of Employee by the Company, and other good and valuable consideration the
receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
  
 1. Certain Definitions. 
  
 (a)
“Cause”. For these purposes, “Cause” means (i) any act of criminal or fraudulent misconduct taken by Employee in connection with Employee’s responsibilities as an employee of the Company which is intended to
result in Employee’s personal enrichment, (ii) Employee’s conviction of a felony, (iii) breach of a fiduciary duty owed by Employee to the Company or its stockholders, or (iv) continued material violations by Employee of
Employee’s employment obligations to the Company after Employee has been given adequate written notice of such noncompliance and Employee has had a minimum of sixty (60) days to cure such noncompliance. 
  
 (b) “Change of Control”. For purposes of this Agreement, a
“Change of Control” is defined as the occurrence of any of the following: 
  
 (i) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) is or
becomes the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 50% or more of the total voting power represented by the Company’s then outstanding voting
securities; 
  
 (ii) Any merger or consolidation
of the Company with any other corporation that has been approved by the stockholders of the Company, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving
entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of the Company; 
  
 (iii) Any sale or disposition by the Company, in one transaction or a series of related transactions, of all or substantially all the
Company’s assets; or 
  
 (iv) A change in
the composition of the Company’s Board of Directors (the “Board”) occurring within a two-year period, as a result of which fewer than a majority of the directors are Incumbent Directors. An “Incumbent Director” is defined as
a director who either (A) is a director of the Company as of the Effective Date, or (B) is elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such
election or nomination. For purposes of the preceding, individuals who are elected pursuant to clause (B) also shall be considered Incumbent Directors. 
  
 (c) “Disability”. For purposes of this Agreement, “Disability” is defined as Employee’s inability to perform his
employment duties to the Company hereunder for 180 days (in the aggregate) in any one-year period as determined by an independent physician selected by the Company. 

 (d) “Good Reason”. For purposes of this Agreement, “Good Reason” is defined as
the occurrence of any of the following without Employee’s express prior written consent: (i) a significant change of or to Employee’s duties, position, responsibilities, title or reporting relationship (other than pursuant to a
promotion); (ii) a substantial reduction, unless such reduction is nondiscriminatory as to Employee, of the facilities and perquisites available to Employee; (iii) a reduction by the Company of Employee’s base salary or a reduction or
other material change to Employee’s incentive bonus inconsistent with the provisions of Section 5(b) below; (iv) a material reduction by the Company in the kind or level of employee benefits to which Employee is entitled; (v) the
relocation of Employee to a facility or a business location more than twenty-five (25) miles from the location of the Company’s Los Angeles, California office as of the Effective Date; (vi) any purported termination of Employee other
than for Cause; (vii) a material breach of this Agreement by the Company; or (viii) a change in the composition of the Board occurring within a two-year period, as a result of which fewer than a majority of the directors are Incumbent
Directors. 
  
 (e) “Release”. For purposes of
this Agreement, “Release” is defined as a release of claims in a form substantially equivalent to that traditionally used by the Company in the ordinary course in connection with separating employees; provided, however, that
notwithstanding the foregoing, such Release is not intended to and will not waive Employee’s rights: (i) to indemnification pursuant to any applicable provision of the Company’s Bylaws or Certificate of Incorporation, as amended,
pursuant to any written indemnification agreement between Employee and the Company, or pursuant to applicable law; (ii) to vested benefits or payments specifically to be provided to Employee under this Agreement or any Company employee benefit
plans or policies; (iii) respecting any claims which Employee may have solely by virtue of Employee’s status as a shareholder of the Company; or (iv) respecting any claims by Employee for defamation, libel or slander. 
  
 2. Duties and Scope of Employment. The Company shall employ Employee in the position
of President, Mobile Media, reporting to the Chief Executive Officer. Employee will render such business and professional services in the performance of Employee’s duties, consistent with Employee’s position within the Company, as shall
reasonably be assigned to Employee at any time and from time to time by the Company’s Chief Executive Officer or the Board of Directors. 
  
 3. Obligations. While employed hereunder, Employee will perform his/her duties faithfully and to the best of Employee’s ability. Employee agrees not to
actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without the prior approval of the Chief Executive Officer; provided, however, that notwithstanding anything to the contrary in
the Company’s standard form of Employee Non-Disclosure, Invention Release and Non-Competition Agreement attached hereto as Exhibit A, Employee may engage in non-competitive business or charitable activities so long as such activities do
not materially interfere with Employee’s responsibilities to the Company. 
  
 4. At-Will Employment. Subject to the terms and conditions hereof including without limitation Sections 6 and 7, the Company and the Employee acknowledge that the Employee’s employment is and shall continue to be terminable
at-will, either party able to terminate the employment relationship with or without Cause. 
  
 5. Compensation and Benefits. 
  
 (a) Base Compensation. The Company shall pay Employee as compensation for Employee’s services hereunder an annual base salary of $377,000. Such salary shall be subject to applicable tax withholding and shall be paid periodically
in accordance with normal Company payroll practices. The base salary shall be subject to annual review by the CEO and the Compensation Committee of the Board but in no event shall be less than $377,000. 
  

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 (b) Incentive Bonus. In addition to the base salary, Employee may receive a performance bonus
during each year of employment with the Company under this Agreement equal to an amount to be determined by the CEO and the Compensation Committee of the Board. The amount of such annual performance bonus shall not be less than 50% of
Employee’s then current base salary for the applicable fiscal year. Such performance bonus, if any, shall be based upon performance objectives to be mutually determined by the CEO and Employee. 
  
 (c) Benefits. Employee shall be eligible to participate in the
employee benefit plans which are available or which become available to other employees of the Company, with the adoption or maintenance of such plans to be in the discretion of the Company, subject in each case to the generally applicable terms and
conditions of the plan or program in question and to the determination of any committee administering such plan or program. Such benefits shall include participation in the Company’s group medical, life, disability, and retirement plans, and
any supplemental plans available to senior executives of the Company from time to time. The Company reserves the right to change or terminate its employee benefit plans and programs at any time. 
  
 (d) Expenses. The Company will reimburse Employee for reasonable
business expenses incurred by Employee in the furtherance of or in connection with the performance of Employee’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time. 
  
 (e) Stock Options. Employee will be granted (i) a non-qualified
stock option on the Effective Date to purchase 250,000 shares of the Company’s common stock (the “Effective Date Option”), and (ii) an additional non-qualified stock option on January 3, 2006, to purchase 25,000 shares of
the Company’s common stock (the “January 2006 Option”), with each of the Effective Date Option and the January 2006 Option to be granted at an exercise price equal to the per share equivalent of the fair market value of the
Company’s common stock on the date of grant as determined by the closing price of the Company’s common stock on NASDAQ NMS on the date of grant, or, if there is no such reported price on the date of grant, the closing price on the trading
day on NASDAQ NMS first preceding the date of grant. Subject to the accelerated vesting provisions set forth herein, each of the Effective Date Option and the January 2006 Option shall vest as to twenty-five percent (25%) of the shares subject
thereto on the first anniversary of the grant date and shall vest ratably on a monthly basis (2.08333% each month) thereafter over the three (3) year period commencing on the first anniversary of the grant date subject to Employee’s
continued full-time employment by the Company on the relevant vesting dates. Each of the Effective Date Option and the January 2006 Option shall be subject to the terms and conditions of the Company’s Restated 1996 Stock Incentive Plan (the
“1996 Plan”) and the stock option agreements between Employee and the Company; provided, however, that notwithstanding the foregoing, in the event of a conflict between the terms and conditions of the Effective Date Option and/or
the January 2006 Option, as the case may be, and this Agreement, the terms and conditions of this Agreement shall prevail. 
  
 6. Termination of Employment. 
  
 (a) Termination by Company for Cause; Voluntary Termination. In the event Employee’s employment with the Company is terminated for Cause by
the Company or voluntarily by Employee (other than for Good Reason) (i) the Company shall pay Employee any unpaid base salary due for periods prior to the date of termination of employment (“Termination Date”); (ii) the Company
shall pay Employee all of Employee’s accrued and unused “paid time off” (“PTO”), if any, through the Termination Date; and (iii) following submission of proper expense reports by Employee, the Company shall reimburse
Employee for all expenses reasonably and necessarily incurred by Employee in connection with the business of the Company through the Termination Date. These payments shall be made promptly upon termination and within the period of time mandated by
applicable law. Employee shall 

  

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retain all stock options that are vested as of the Termination Date and such stock options may be exercised in accordance with the provisions of the
applicable stock option plan(s) and the respective stock option agreement(s). 
  
 (b) Termination by Company without Cause. The Company may terminate Employee’s employment without Cause upon thirty (30) days written notice to Employee. If Employee’s employment with the Company
is terminated by the Company without Cause, and Employee signs and does not revoke a Release, then Employee shall be entitled to the following: 
  
 (i) a one-time “lump sum” payment of severance pay (less applicable withholding taxes) in an amount equal to Employee’s
annual base salary, as then in effect, to be paid in accordance with the Company’s normal payroll policies no later than the Company’s first regular payroll date following the Termination Date; 
  
 (ii) a one-time “lump sum” payment of severance
pay (less applicable withholding taxes) in an amount equal to 100% of Employee’s annual bonus rate, as then in effect, to be paid in accordance with the Company’s normal payroll policies no later than the Company’s first regular
payroll date following the Termination Date; and 
  
 (iii) the same level of health (i.e., medical, vision and dental) coverage and benefits as in effect for the Employee on the day immediately preceding the Termination Date; provided, however, that (A) the Employee constitutes a
qualified beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended; and (B) Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended
(“COBRA”), within the time period prescribed pursuant to COBRA. The Company shall continue to provide Employee with Company-paid health coverage until the earlier of (y) the date Employee is no longer eligible to receive continuation
coverage pursuant to COBRA, or (z) twelve (12) months from the Termination Date. 
  
 (iv) Fifty percent (50%) of the Employee’s then unvested stock options shall immediately vest and become exercisable and
Employee shall have twelve (12) months following the Termination Date to exercise such vested shares; provided, however, that in the event of a conflict between the terms and conditions of any such stock option agreement and this
Agreement, the terms and conditions of this Agreement shall prevail unless the conflicting provision(s) in any such stock option agreement shall be more favorable to Employee in which case the provision(s) more favorable to Employee shall govern;
provided further, however, that notwithstanding the foregoing in no event shall the extended twelve (12) month exercise period specified in this Section 6(b)(iv) modify or extend the Expiration Date of any stock option as set forth
in such stock option agreement. 
  
 (c) Termination by Employee
for Good Reason. If Employee terminates employment with the Company for Good Reason within 90 days of a Good Reason event, or within twelve (12) months if the Good Reason event is a Change of Control, and Employee signs and does not revoke
a Release, then Employee shall be entitled to the same benefits as set forth in Sections 6(b)(i) through 6(b)(iv) above. 
  
 (d) Death. In the event of Employee’s death while employed hereunder, Employee’s beneficiary (or such other person(s) specified by will
or the laws of descent and distribution) will receive (i) continuing payments of severance pay (less applicable withholding taxes) at a rate equal to Employee’s base salary for a period of ninety (90) days from Employee’s death,
to be paid periodically in accordance with the Company’s normal payroll policies, (ii) Company-paid COBRA benefits as specified in Section 6(b)(iii) above for ninety (90) days from Employee’s death, and (iii) have the
right to exercise Employee’s stock options which are vested as of the date of Employee’s death for one (1) year following Employee’s death. 
  

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 (e) Disability. In the event of Employee’s termination of employment with the Company due to
Disability, Employee shall be entitled to continuing payments of base salary (less applicable withholding taxes) until Employee is eligible for long-term disability payments under the Company’s group disability policy; provided, however,
that in no event shall such period of continued base salary exceed 180 days following termination. 
  
 7. Change of Control Benefits. If Employee (i) is terminated other than for Cause by the Company within ninety (90) days prior to a Change of Control or as a result of or in connection with a Change
of Control or (ii) is terminated other than for Cause by the Company (or its successor corporation) or resigns for Good Reason within twelve (12) months following a Change of Control, and provided that Employee signs and does not revoke a
Release, then Employee shall be entitled to the same benefits as set forth in Sections 6(b)(i) through 6(b)(iv) above. 
  
 Notwithstanding the foregoing, in the event that the benefits provided for in this Section 7 (i) constitute “parachute payments” within the meaning of
Section 280G of the Code, and (ii) would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then Employee’s benefits otherwise payable under this Section 7 shall be reduced by the
minimum extent necessary such that no portion of such benefits would be subject to the Excise Tax. Unless the Company and Employee otherwise agree in writing, any determination required under this Section 7 shall be made in writing by the
Company’s independent public accountants (the “Accountants”), whose determination shall be conclusive and binding upon Employee and the Company for all purposes. For purposes of making the calculations required by this Section 7,
the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Section 280G and 4999 of the Code. The Company and Employee
shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section 7. The Company shall bear all costs the Accountants may reasonably incur in connection
with any calculations contemplated by this Section 7. 
  
 8. No Impediment
to Agreement. Employee hereby represents to the Company that Employee is not, as of the date hereof, and will not be during Employee’s employment with the Company, employed under contract, oral or written, by any other person, firm or
entity, and is not and will not be bound by the provisions of any restrictive covenant or confidentiality agreement which would constitute an impediment to, or restriction upon, Employee’s ability to enter this Agreement and to perform the
duties of Employee’s employment. 
  
 9. Confidentiality, Non-Competition
and Non-Solicitation. Employee agrees, as a condition to Employee’s employment with the Company, to execute the Company’s standard form of Employee Non-Disclosure, Invention Release and Non-Competition Agreement attached hereto as
Exhibit A. 
  
 10. Arbitration. Employee agrees, as a condition to
Employee’s employment with the Company, to execute the Company’s standard form Arbitration Agreement, as amended, attached hereto as Exhibit B. 
  

11. Successors; Personal Services. The services and duties to be performed by the Employee hereunder are personal and may not be assigned or delegated. This
Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns, and the Employee and Employee’s heirs and representatives. 
  
 12. Notices. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been
duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of the Employee, mailed notices shall be addressed to Employee at the home address, which Employee
most recently communicated to the Company in writing, with a copy to Employee’s counsel as designated by Employee 

  

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whose address is provided below. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be
directed to the attention of its General Counsel. 
  
 13. Miscellaneous
Provisions. 
  
 (a) Waiver. No provision of this
Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Employee and by an authorized officer of the Company (other than the Employee). No waiver by either party of any
breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 
  
 (b) Entire Agreement. This Agreement (including exhibits) shall
supersede and replace all prior agreements or understandings relating to the subject matter hereof, and no agreements, representations or understandings (whether oral or written or whether express or implied) which are not expressly set forth in
this Agreement have been made or entered into by either party with respect to the relevant matter hereof. 
  
 (c) Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the internal substantive laws
of the State of Washington without reference to any choice of law rules. 
  
 (d) Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full
force and effect. 
  
 (e) No Assignment of Benefits. The
rights of any person to payments or benefits under this Agreement shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation of law, in respect of bankruptcy, garnishment, attachment or other
creditor’s process, and any action in violation of this subsection shall be void. 
  
 (f) No Duty to Mitigate. Employee shall not be required to mitigate the amount of any payment contemplated by this Agreement, nor shall any such payment be reduced by any earnings that Employee may receive from
any other source. 
  
 (g) Employment Taxes. All payments
made pursuant to this Agreement will be subject to withholding of all applicable income, health insurance and employment taxes. 
  
 (h) Assignment by Company. The Company may assign its rights under this Agreement to an affiliate (as defined under the Securities Exchange Act of
1934), and an affiliate may assign its rights under this Agreement to another affiliate of the Company or to the Company. In the case of any such assignment, the term “Company” when used in a section of this Agreement shall mean the
corporation that actually employs the Employee. 
  
 (i)
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument. 
  

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 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized
officer, as of the day and year first above written. 
  

									
	 COMPANY:
	 	 	 	 INFOSPACE, INC.

			
	 	 	 	 	 /s/ James F. Voelker

	 	 	 	 	 	 	 By: James F. Voelker

	 	 	 	 	 	 	 Chief Executive Officer

			
	 EMPLOYEE:
	 	 	 	 /s/ Stephen Davis

	 	 	 	 	 	 	 Stephen Davis

  

 7Noncompetition Agreement

 Exhibit 10.1 
  
 

 
  
 NONCOMPETITION AGREEMENT

  
 Danaher Corporation, an “at will” employer,
believes that recruiting and retaining the very best people to work in its highly competitive businesses means treating them fairly, rewarding their contributions, and thereby establishing a strong partnership for our collective well-being and
continued success. Employment at Danaher and its divisions typically provides associates with specialized and unique knowledge and confidential information, which, if used in competition with Danaher, would cause harm to Danaher. As such, it is
reasonable to expect a commitment from our associates that protects Danaher’s interests and therefore their own interests. You are encouraged to read and sign this Agreement in the spirit intended: our collective long-term growth and
success. 
  
 Danaher Corporation, a Delaware corporation headquartered
at 2099 Pennsylvania Avenue, 12th Floor, Washington, D.C. 20006 (“the Company” or “Danaher”) and James A. Lico who resides at 23958 W. WOODWAY LN, WOODWAY, WA (“the Associate”) agree as follows: 
  
 1. General. The Company employs the Associate and the Associate accepts employment to
render services on behalf of the Company, subject to the supervision and direction of the President of the Company or his duly authorized designee. Said employment shall continue until the date on which the employment relationship is terminated at
the will of either party. 
  

	2.	Noncompetition and nonsolicitation. 

  
 (a) During the Associate’s employment with the Company, the Associate shall not directly or indirectly: 
  
 (A) perform services of any nature or in any capacity
whatsoever for any business, person, or entity which is engaged in product lines which compete with and/or which is in competition with Danaher or any subsidiary of Danaher; 
  
 (B) engage in any product lines which compete with Danaher or any subsidiary of Danaher; 
  
 (C) except on behalf of Danaher or any subsidiary of
Danaher, sell, offer to sell or solicit any orders for the purchase of any products and/or services which are the same as or similar to those sold by Danaher or any subsidiary of Danaher, to or from any customer, person or entity; or 
  
 (D) otherwise perform any services, sell any products or
engage in any activities in any capacity whatsoever which are in competition with Danaher or any subsidiary of Danaher. 
  
 (b) For a 12-month period following the termination of the Associate’s employment with the Company, whether the termination is voluntary or
involuntary, the Associate will not, directly or indirectly, on behalf of himself or herself or for any entity, business or person other than, Danaher or any subsidiary of Danaher: 
  
 (A) compete with Danaher anywhere in the United States (the “Restricted Area”), or 
  
 (i) accept employment (as a director, officer, employee,
independent contractor, representative, consultant, member or otherwise) with a business, entity (including without limitation any business or entity started by the Associate) or person that competes directly or indirectly with any product or
service of the Company within the Restricted Area, 

 (ii) provide any services similar to the services the Associate provided to or on behalf
of the Company, or any other advice or consulting services, to a business, entity (including without limitation any business or entity started by the Associate) or person that competes directly or indirectly with any product or service of the
Company within the Restricted Area, or 
  
 (iii)
invest in or otherwise hold any interest in (except for passive ownership of up to 3% of the outstanding capital stock of any publicly traded corporation, so long as the Associate complies with clauses (i) and (ii) above), a business, entity
(including without limitation any business or entity started by the Associate) or person that competes directly or indirectly with any product or service of the Company within the Restricted Area. 
  
 (B) sell, offer to sell, or solicit any orders for the
purchase of, to or from any customer, any products and/or services similar to those upon which or with which the Associate worked, or about which the Associate acquired knowledge, while employed by Danaher or any subsidiary of Danaher. For purposes
of this Agreement, the term “customer” means any person, business or entity, or any person, business, or entity subject to the control of any such person, business or entity, that during the 24 months immediately preceding termination of
Associate’s employment with the Company: 
  
 (i) sought, inquired about, or purchased any products or services of the Company or of any Danaher entity for whom Associate worked during such 24 month period (the Company and any such other Danaher entity or entities are referred to as
the “Employing Companies”); 
  
 (ii)
contacted any of the Employing Companies for the purpose of seeking or purchasing any products or services of any of the Employing Companies; 
  
 (iii) was contacted by any of the Employing Companies for the purpose of selling its products or services; and/or 
  
 (iv) received a written and/or verbal sales proposal from
any of the Employing Companies. 
  
 (C) use,
incorporate or otherwise create any business entity or organization or domain name using, any name confusingly similar to the name of Danaher Corporation or of any subsidiary of Danaher, or any other name under which any of those entities does
business. 
  
 3. Nonpiracy. During the Associate’s employment
and for a 12-month period following the termination of the Associate’s employment with the Company, whether the termination is voluntary or involuntary, the Associate will not directly or indirectly, on behalf of himself or herself, or for any
other entity, business, or person: 
  
 (1) hire,
entice, induce, solicit or attempt to hire, entice, induce or solicit any employee of the Company to leave the Company’s employ (or the employ of any subsidiary of the Company, as applicable) or cause any employee of the Company to become
employed in any business that is directly or indirectly competitive with the Company for any reason whatsoever, 
  
 (2) assist or encourage in any manner, including without limitation through the providing of advice or information, any employee of the
Company to leave the Company’s employ (or the employ of any subsidiary of the Company, as applicable), or 
  

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 (3) suggest or recommend in any manner, including through the providing of advice or
information, that any business, person or entity hire, entice, induce, solicit, cause or attempt to hire, entice, induce or solicit or cause any employee of the Company to leave the Company’s (or the employ of any subsidiary of the Company, as
applicable). 
  
 For purposes of this Agreement, the term “employee of the
Company” shall include each person who as of the date of termination of the Associate’s employment is, or at any time within the 6-month period preceding such date was, (1) employed by Danaher or any of its subsidiaries whether on a
full-time or part-time basis, or (2) providing full-time services to, or working as an independent contractor for, Danaher or any of its subsidiaries. 
  
 4. Nondisclosure. 
  
 (a) The Associate agrees with the Company that he or she will not at any time during the Associate’s employment by the Company or at any time after
any termination of said employment, whether it be voluntary or involuntary, except in performing his or her employment duties to the Company or any affiliate of the Company under this Agreement, directly or indirectly, use, disclose, or publish, or
knowingly or negligently permit others not so authorized to use, disclose, or publish, (1) any information, data or other assets or property of the Company or any of its affiliates, in whatever form, including without limitation the Danaher Business
System and any information relating to any current or former employee of the Company, or (2) without limiting the foregoing, any Confidential Information that the Associate may learn or become aware of, or may have learned or become aware of,
because of the Associate’s prior or continuing employment, ownership, or association with the Company or any predecessors or affiliates thereof, or use, or knowingly or negligently permit others not so authorized to use, any such information in
a manner detrimental to the interests of the Company or any affiliates thereof. 
  
 (b) The Associate agrees not to use in working for the Company or any of its affiliates and not to disclose to the Company or any affiliate thereof any trade secrets or other information the Associate does not have
the right to use or disclose and that the Company and its affiliates are not free to use without liability of any kind. The Associate agrees to inform the Company promptly in writing of any patents, copyrights, trademarks, or other proprietary or
intellectual property rights known to the Associate that the Company or any of its affiliates might violate because of information provided by the Associate. 
  
 (c) The Associate confirms that all assets and properties of the Company and its affiliates, including without limitation Confidential Information, is and
must remain the exclusive property of the Company or the relevant affiliate thereof. All such assets and property, including without limitation all office equipment (including computers) the Associate receives from the Company or any affiliate
thereof in the course of the Associate’s employment and all business records, business papers, and business documents the Associate keeps or creates, whether on digital media or otherwise, in the course of the Associate’s employment
relating to the Company or any affiliate thereof, must be and remain the assets and property of the Company or the relevant affiliate. Upon the termination of the Associate’s employment with the Company, whether it be voluntary or involuntary,
whenever that termination of employment may occur, or upon the Company’s request at any time, the Associate must promptly deliver to the Company or to the relevant affiliate all such assets and property, including without limitation any such
office equipment (including computers) and any Confidential Information or other records or documents (written or otherwise), and any copies, excerpts, summaries or compilations of the foregoing, made by the Associate or that came into the
Associate’s possession during the Associate’s employment. The Associate agrees that he or she will not retain any such assets or property, including without limitation copies, excerpts, summaries, or compilations of the foregoing
information, records and documents. 
  
 (d) “Confidential
Information” includes, without limitation, any matters protected under the Uniform Trade Secrets Act and any information that neither the Company nor any of its affiliates has previously disclosed to the public with respect to the present or
future business of the Company or of any of its affiliates, including their respective operations, services, products, research, inventions, invention disclosures, discoveries, drawings, designs, plans, processes, models, technical information,
facilities, methods, systems, trade secrets, copyrights, software, source code, object code, patent applications, 
  

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 procedures, manuals, specifications, any other intellectual property, confidential reports, price lists, pricing
formulas, customer lists, financial information (including the revenues, costs, or profits associated with any products or services), Talent Reviews and Organizational Plans, business plans, information regarding all or any portion of the Danaher
Business System, lease structure, projections, prospects, opportunities or strategies, acquisitions or mergers, advertising or promotions, personnel matters, legal matters, any other confidential or proprietary information, and any other information
not generally known outside the Company and its affiliates that may be of value to the Company or any of its affiliates, but excludes any information already properly in the public domain. “Confidential Information” also includes, without
limitation, confidential and proprietary information and trade secrets that third parties entrust to the Company or any of its affiliates in confidence. 
  
 (e) The Associate understands and agrees that the rights and obligations set forth in this Nondisclosure section will continue indefinitely and
will survive termination of the Associate’s employment with the Company. 
  
 5. Works-made-for-hire and Intellectual Property. 
  
 (a) The Associate agrees that all records (in whatever media), written works, documents, papers, notebooks, drawings, designs, technical information, source code, object code, algorithms, processes, methods, ideas, formulas, inventions
(whether patentable or not), invention disclosures, discoveries, improvements, other copyrightable or protected works, or any other intellectual property, developed, conceived, acquired, created, authored, reduced to practice, from which derivative
works are prepared, made, invented, or discovered by the Associate (whether or not during usual working hours, and whether individually or jointly with others) that relate to, result from or are suggested by any work or task performed by the
Associate for or on behalf of the Company or any affiliate thereof, or that arise from the use or assistance of the facilities, materials, personnel, or Confidential Information of the Company or any affiliate thereof, or that otherwise relate to
the actual or anticipated research, development or business of the Company or any affiliate thereof, will be and remain the absolute property of the Company (or the relevant affiliate thereof), as will all the worldwide patent, copyright, trademark,
service mark and trade secret rights, any associated registrations, applications, renewals, extensions, continuations, continuations-in-part, requests for continued examination, divisions, or reissues thereof or any foreign equivalents thereof, and
all other intellectual property rights relating to the foregoing (all items referred to in this sentence are collectively referred to as the “Intellectual Property”). The Associate irrevocably and unconditionally waives all rights,
wherever in the world enforceable, that vest in the Associate (whether before, on, or after the date of this Agreement) in connection with any such Intellectual Property in the course of the Associate’s employment with the Company, any
affiliate thereof or any predecessor of any of the foregoing. The Associate recognizes all such Intellectual Property constitutes “works made for hire” for which the Company retains all rights, title, and interest to any underlying rights,
including copyright protections. If for any reason any such Intellectual Property is not deemed to be a “work made for hire,” consistent with the undertakings below, the Associate hereby assigns all rights, title and interest in any
such Intellectual Property to the Company (or the applicable affiliate thereof, as directed by the Company). 
  
 (b) The Associate will promptly disclose, and hereby grants, and assigns all rights, title, and interest in all Intellectual Property, to the Company (or
the applicable affiliate thereof, as specified by the Company) for its or their sole use and benefit. At all times, both during and after the Associate’s employment by the Company, the Associate agrees to assist the Company in taking the proper
steps, including executing any required documents, to obtain patents, copyrights or other legal protection for the Intellectual Property and to assign such Intellectual Property and the rights to any applications associated therewith to the Company,
if the Company so desires, but all at the Company’s direction and expense. At all times, both during and after the Associate’s employment by the Company, the Associate agrees not to claim any rights to any Intellectual Property as having
been created, conceived or acquired by the Associate prior to the Associate’s employment by the Company, unless such Intellectual Property is identified on a sheet attached to this Agreement and signed by the Associate as of the date of this
agreement. 
  

 4 

 (c) This Agreement does not apply to Intellectual Property for which no equipment, supplies, facility, or
trade secret information of the Company was used and which was developed entirely on the Associate’s own time, unless (a) the Intellectual Property relates (i) directly to the business of the Company, or (ii) to the Company’s actual or
demonstrably anticipated research or development, or (b) the Intellectual Property results from any work performed by the Associate for the Company. 
  
 (d) The Associate understands and agrees that the rights and obligations set forth in this Works-made-for-hire and Intellectual Property section
will continue indefinitely and will survive termination of the Associate’s employment with the Company, whether the termination is voluntary or involuntary. 
  
 6. Termination Payment. In consideration of the Associate’s promises and commitments reflected in paragraphs 2, 3, 4, 5 and 15
herein, the Company agrees that if the Company terminates the Associate’s employment “without cause” (as defined below) prior to termination of this Agreement, the Associate shall be entitled to nine months salary (excluding incentive
compensation, bonus amounts, benefits and similar items) at the rate in effect at the time of termination to be paid on the same schedule as if Associate were still employed (the “Termination Payments”). The Company will reduce the amount
of any Termination Payments for withholding and FICA taxes and any other withholdings and contributions required by law. If the Company terminates the Associate for “cause,” or if the Associate terminates his or her employment for any
reason, the Associate shall not be entitled to any Termination Payments. The Associate further acknowledges that a transfer to Danaher or a subsidiary of Danaher shall in no event constitute a “termination” of any kind for purposes of
Sections 6 or 7 hereof. 
  
 (a) For purposes of this Agreement,
termination “without cause” shall mean that the Company terminates the Associate’s employment for any reason, including in a reduction-in-force, other than for “cause.” “Cause” shall include the following, to be
determined in the reasonable judgment of the Company: 
  
 (i) the Associate’s fraud, misappropriation, embezzlement, willful misconduct or gross negligence with respect to Danaher or any subsidiary thereof, or any other action in willful disregard of the interests of Danaher or any subsidiary
thereof; 
  
 (ii) the Associate’s conviction
of, or pleading guilty or no contest to (1) a felony, (2) any misdemeanor (other than a traffic violation) with respect to his/her employment, or (3) any other crime or activity that would impair his/her ability to perform his/her duties or impair
the business reputation of Danaher or any subsidiary thereof; 
  
 (iii) the Associate’s refusal or willful failure to adequately perform any duties assigned to him/her; 
  
 (iv) the Associate’s willful failure or refusal to comply with Danaher standards, policies or procedures, including without
limitation Danaher’s Standards of Conduct as amended from time to time; 
  
 (v) the Associate’s material misrepresentation or breach of any of his or her representations, obligations or agreements under this Agreement; 
  
 (vi) the Associate’s death; or 
  
 (vii) the Associate’s incapacity due to physical or mental illness that results in his/her absence from
work on a full-time basis for twelve consecutive months. 
  
 (b)
Notwithstanding anything in this Section 6 to the contrary, the Associate agrees that in the event of a breach by the Associate of any of his/her covenants contained in Sections 2, 3, 4, 5 or 15 herein, in addition to any and all other remedies
available to the Company, (1) the Associate shall return to the Company any Termination Payments theretofore received, in addition to any other damages or remedies 
  

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 available to the Company, and (2) the Company shall have no obligation to pay, and the Associate shall have no right to
receive, any and all unpaid or remaining Termination Payments. Notwithstanding anything to the contrary herein, to the extent a court, governmental authority or other administrative body invalidates or renders unenforceable all or any portion of the
covenants contained in Sections 2, 3, 4, 5 or 15 herein, the parties hereto agree that the Termination Payments otherwise payable (including any installments that have already been paid to Associate) shall be reduced proportionally, up to and
including eliminating the Termination Payment in its entirety to the extent the Agreement is rendered unenforceable in its entirety. 
  
 7. Severance Payment. The Company agrees that if the Company terminates the Associate’s employment “without cause” (as defined in paragraph 6(a)
above) prior to termination of this Agreement, the Associate shall be entitled to severance pay of three months salary (excluding incentive compensation, bonus amounts, benefits and similar items) at the rate in effect at the time of termination to
be paid on the same schedule as if the Associate were still employed (the “Severance Payments”) provided the Associate signs a release of all claims arising out of the Associate’s employment, and discontinuance of employment,
with Danaher and/or any subsidiaries of Danaher to the extent applicable. Such release must be executed at the time of termination, and will be in the format of the Company’s standard release in effect at the time of termination (a copy of the
current version is available for the Associate’s review.) The Severance Payments will commence upon completion of the Termination Payments provided for in paragraph 6 above, if any. The Company will reduce the amount of any Severance Payments
for withholding and FICA taxes and any other withholdings and contributions required by law. Notwithstanding anything in this Section 7 to the contrary, the Associate agrees that in the event of a breach by the Associate of any of his/her covenants
contained in the aforementioned release, in addition to any and all other remedies available to the Company, (1) the Associate shall return to the Company any Severance Payments theretofore received, in addition to any other damages or remedies
available to the Company, and (2) the Company shall have no obligation to pay, and the Associate shall have no right to receive, any and all unpaid or remaining Severance Payments. 
  
 8. Enforceability. It is the intention of the parties that the provisions of the restrictive covenants herein shall be enforceable to
the fullest extent permissible under applicable law, but the unenforceability (or modification to conform to such law) of any provision or provisions hereof shall not render unenforceable, or impair, the remainder thereof. If any provision or
provisions hereof shall be deemed invalid or unenforceable, either in whole or in part, this Agreement shall be deemed amended to delete or modify, as necessary, the offending provision or provisions and to alter the bounds thereof in order to
render it valid and enforceable. 
  
 9. Damages and Relief. The Associate
acknowledges and agrees that damages are an inadequate remedy for any breach of the terms and conditions set forth in Sections 2, 3, 4, 5 and 15 of this Agreement and agrees that in the event of a breach of such paragraphs, the Company may, with or
without pursuing any remedy for damages, immediately obtain and enforce an ex parte, preliminary and permanent injunction prohibiting the Associate from violating this policy. Further, in any civil action brought for a breach of this Agreement, the
Company shall be entitled to recover from the Associate all reasonable attorneys’ fees, litigation expenses, and costs incurred by the Company if the Company prevails in that action. 
  
 10 Consideration. The Associate acknowledges and agrees that this Agreement is supported by the Associate’s promotion to the
position of Executive Vice President and by the Termination Payment provision set forth in Section 6 above without regard to whether the Associate receives any or all of the Termination Payment. The Associate further agrees that such
consideration is fair, reasonable and enforceable to its full extent; that the Associate was given adequate time to consider this Agreement; that the Company has an important and legitimate business interest that it is seeking to protect with this
Agreement; and that enforcement of this Agreement would not interfere with the interests of the public. 
  
 11. Governing Law. This Agreement shall be governed by and construed in accordance with the substantive laws of the State of Washington without regard for the choice of law provisions thereof. 
  

 6 

 12. Termination. 
  
 (a) The Associate understands, acknowledges and agrees that the obligations and restrictions imposed upon him/her under this Agreement shall apply
regardless of whether the termination of his/her employment is voluntary or involuntary, with or without cause. 
  
 (b) Unless the Associate is sooner terminated pursuant to the terms of Section 6 of this Agreement, terminated by the Company for cause or the Associate
terminates his or her employment for any reason, the Company shall upon prior written notice to the Associate have the right to terminate this Agreement (1) on the second anniversary of this Agreement and on every second anniversary thereafter, and
(2) in connection with any promotion of the Associate or transfer of the Associate to Danaher or any subsidiary of Danaher; provided, that in connection with any such termination the Company (or a subsidiary of Danaher, as applicable) shall
offer to the Associate an agreement containing terms substantially similar to the terms set forth herein but taking into account the then-current status of the applicable law. 
  
 (c) Notwithstanding anything to the contrary set forth herein, all of the Company’s obligations under this Agreement
shall terminate upon the earliest of the termination of the Associate’s employment for cause, the Associate’s termination of his or her employment for any reason, or the Company’s fulfillment of its obligations, if any, as set forth
in Sections 6 and 7 hereof. 
  
 13. Amendment and Waiver; Entire
Agreement. This Agreement shall not be amended except by a written instrument hereafter signed by the Company and the Associate. The failure of the Company to enforce, or delay in enforcing, any term of this Agreement shall not constitute a
waiver of any rights or deprive the Company of the right to insist thereafter upon strict adherence to that or any other term of this Agreement, nor shall a waiver of any breach of this Agreement constitute a waiver of any preceding or succeeding
breach. No waiver of a right under any provision of this Agreement shall be binding on the Company unless made in writing and signed by the President of the Company. This Agreement contains the entire understanding of Danaher and the Associate
relating to the subject matter hereof and supersedes all prior agreements and understandings relating to the subject matter hereof between the Associate on the one hand and Danaher and/or any current or former subsidiary of Danaher on the other
hand, including without limitation any similar agreement entered into prior to the date hereof between the Associate on the one hand and Danaher and/or any current or former subsidiary of Danaher on the other hand. 
  
 14. Successors and Assigns. This Agreement shall be binding upon the Associate and
his/her heirs, successors, assigns and personal representatives, and inure to the benefit of the Company, its successors and its assigns. The Associate may not assign any rights or duties under this Agreement; the Company may assign any or all of
its rights and/or duties herein to any subsidiary or subsidiaries of the Company. The term “affiliate,” when used herein, shall not include any officers or directors of the Company. 
  
 15. Nondisparagement. The Associate agrees that except as required under the law, the
Associate will refrain from making derogatory or disparaging written or oral comments regarding the Company, any of its affiliates or any of their respective products, services or personnel. 
  
 16. Right of Set-Off. The Company shall have the right, but not the obligation, to set
off, in whole or in part, against any obligation it owes to the Associate under this Agreement or under any release, amounts owed to Danaher or any Danaher subsidiary by the Associate. 
  
 17. Acknowledgment of Understanding; Livelihood. The Associate acknowledges that s/he has read this Agreement in its entirety and
understands all of its terms and conditions, that s/he has had the opportunity to consult with legal counsel of his/her choice regarding his/her agreement to the provisions contained herein, that s/he is entering into this Agreement of his/her own
free will, without coercion from any source, and that s/he agrees to abide by all of the terms and conditions herein contained. The Associate further acknowledges that in consideration of the Associate’s right to terminate his/her employment
with the Company at any time for any reason, Associate agrees that s/he is employed by the Company on an at-will basis. Nothing contained in this Agreement or elsewhere shall be construed as limiting the effect of 
  

 7 

 this paragraph. The Associate acknowledges that Associate’s knowledge, skills and abilities are sufficient to enable
the Associate, in the event of the termination of employment with the Company, to earn a satisfactory livelihood without violating this Agreement. 
  

									
	Associate:	  	 /s/  James A. Lico

	  	Date:	  	           9/26/05

					
	Company:	  	By:	  	 /s/  James Williams

	  	Date:	  	           9/26/05

	 	  	Name:	  	 James Williams

	  	 	  	 
	 	  	Title:	  	 VP – HR

	  	 	  	 

  

 8

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