Document:

Exhibit 10.1

 

EXECUTION VERSION

 

JPMorgan
Chase Bank, N.A.

J.P.
Morgan Securities LLC

383 Madison Avenue

New York, NY 10179

 

July 14, 2015

 

Project Strix

US$5,000,000,000 Bridge Loan Facility

Commitment Letter

 

Celgene Corporation

400 Connell Park, 4th Floor

Berkeley Heights, NJ 07922

	Attention:	Jonathan Biller
	 	Senior Vice President, Tax and Treasury

 

Ladies and Gentlemen:

 

Celgene Corporation,
a Delaware corporation (the “Company” or “you”), has advised JPMorgan Chase Bank, N.A. (“JPMCB”)
and J.P. Morgan Securities LLC (“JPMorgan” and, together with JPMCB, the “Commitment Parties”,
“we” or “us”) that it intends to acquire a company previously identified to us and code-named
Strix (the “Acquired Company”) through (a) the purchase of shares of common stock of the Acquired Company by
a wholly-owned subsidiary of the Company (“Merger Sub”) pursuant to a tender offer for any and all such shares
(the “Offer”) and (b) promptly following the closing of the Offer, the merger (the “Merger”)
of Merger Sub with and into the Acquired Company pursuant to Section 251(h) of the Delaware General Corporation Law, with the Acquired
Company surviving such Merger as the Company’s direct or indirect wholly-owned subsidiary (the “Acquisition”),
and to consummate the other Transactions (such term and each other capitalized term used but not defined herein having the meaning
assigned to it in the Summary of Terms and Conditions attached hereto as Exhibit A (the “Term Sheet”). In that
connection, the Company has requested that JPMorgan agree to structure and arrange a senior unsecured 364-day bridge loan facility
in the amount of US$5,000,000,000 (as such amount may be reduced as provided under the “Optional Commitment Reduction and
Prepayment” and “Mandatory Commitment Reduction and Prepayment” sections of the Term Sheet) (the “Facility”)
to finance the Acquisition and the other Transactions, and that JPMCB commit to provide the entire amount of the Facility.

 

JPMCB is pleased to advise
you of its commitment to provide the entire principal amount of the Facility upon the terms and subject to the conditions set forth
or referred to in this Commitment Letter and the Term Sheet.

 

It is agreed that JPMorgan
will act as the sole lead arranger and sole bookrunner, and that JPMCB will act as the exclusive administrative agent, for the
Facility, and each of them will, in such capacities, perform the duties and exercise the authority customarily performed and exercised
by it in such roles. It is agreed that (a) no additional agents, co-agents, arrangers, co-arrangers, bookrunners, managers
or co-managers will be

 

    	 

    	 

    

 

appointed, and no other
titles will be awarded, by you in connection with the Facility and (b) no compensation (other than compensation expressly
contemplated by the Term Sheet or the Fee Letters referred to below) will be paid in connection with the Facility, in each case
unless you and we shall so agree.

 

JPMCB reserves the right,
prior to or after the execution of definitive documentation for the Facility (but not before the public announcement by you of
the Acquisition), to syndicate all or a portion of its commitment hereunder to one or more financial institutions (which shall
be identified by JPMorgan in consultation with you) that (subject, to the extent required below, to your consent (such consent
not to be unreasonably withheld or delayed)) will become parties to such definitive documentation pursuant to a syndication to
be managed by JPMorgan (the financial institutions becoming parties to such definitive documentation being collectively referred
to as the “Lenders”). You agree to assist JPMorgan in completing an orderly and successful syndication of the
Facility reasonably satisfactory to us and you. In that regard, you agree promptly to prepare and provide to JPMorgan such information
with respect to the Company and its subsidiaries, and to use commercially reasonable efforts (consistent with the terms of the
Acquisition Agreement) to cause the Acquired Company promptly to prepare and provide to JPMorgan such information with respect
to the Acquired Company and its subsidiaries, in each case including financial information, as JPMorgan may reasonably request
in connection with the arrangement and syndication of the Facility. Your assistance shall also include (a) your using commercially
reasonable efforts to ensure that the syndication efforts benefit from your existing lending and investment banking relationships,
(b) direct contact between appropriate senior management of the Company and the proposed Lenders, in all cases at times and locations
to be mutually agreed, (c) your assistance, and your using commercially reasonable efforts (consistent with the terms of the Acquisition
Agreement) to cause the Acquired Company to assist, in the preparation of a Confidential Information Memorandum and other marketing
materials to be used in connection with the syndication of the Facility (collectively, “Information Materials”),
in each case in form and substance customary for transactions of this type, (d) prior to the launch of the General Syndication
(as defined below), your obtaining indicative pro forma ratings giving effect to the Transactions from each of Moody’s Investors
Service, Inc. (“Moody’s”) and Standard & Poor’s Financial Services LLC, a part of McGraw Hill
Financial (“S&P”), and (e) the hosting, with JPMorgan, of one or more meetings or conference calls
with prospective Lenders at times and locations to be mutually agreed. In addition, to facilitate an orderly and successful syndication
of the Facility, you agree that, until the earlier of the Closing Date and the completion of a successful syndication of the Facility
(as described in the Arranger Fee Letter referred to below), you and your subsidiaries will not, and you will use commercially
reasonable efforts (consistent with the terms of the Acquisition Agreement) to cause the Acquired Company and its subsidiaries
not to, issue, sell, offer, place or arrange, or engage in any discussions with respect to any of the foregoing, any debt securities
or commercial bank or other credit facilities of the Company, the Acquired Company or their respective subsidiaries that could
reasonably be expected to materially impair the syndication of the Facility, other than (i) the Facility, (ii) the Permanent Financing,
(iii) indebtedness incurred pursuant to the commitments in effect on the date hereof under the Existing Company Credit Agreement
and (iv) commercial paper financings in the ordinary course of business, without the prior written consent of JPMorgan. You agree
to afford JPMorgan a period of at least 20 consecutive business days from the launch of the General Syndication (it being acknowledged
and agreed that JPMorgan intends to launch the General Syndication promptly upon completion of the Information Materials) and immediately
prior to the Closing Date to syndicate the Facility, provided that such period shall not include any day from and including
August 21, 2015 through and including September 8, 2015, any day from and including November 25, 2015 through and including November
30, 2015, and any day from and including

 

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December 18, 2015 through
and including January 4, 2016. Without limiting your obligations to assist with the syndication efforts as set forth herein, JPMCB
agrees that the completion of a successful syndication is not a condition to the initial funding under the Facility.

 

You hereby represent
and covenant that (a) all written information, other than the Projections and information of a general economic or industry nature,
that has been or will be made available to JPMorgan or JPMCB or to any of the Lenders by or on behalf of you (the “Information”)
is or, when furnished, will be, in each case when taken as a whole and in light of the circumstances when furnished, correct in
all material respects at the time furnished and does not or will not at the time furnished contain any untrue statement of a material
fact or omit to state a material fact necessary in order to make the statements contained therein, taken as a whole, not misleading
in light of the circumstances under which such statements are made (in each case after giving effect to all supplements and updates
theretofore provided) and (b) the Projections that have been or will be made available to JPMorgan or JPMCB or to any of the Lenders
by or on behalf of you in connection with the transactions contemplated hereby have been or, when made available, will be prepared
in good faith based upon assumptions believed by you to be reasonable at the time the Projections are so made available (it being
understood that Projections are not to be viewed as facts and are subject to significant uncertainties and contingencies many of
which are beyond your control, that no assurance can be given that any particular financial projections will be realized, that
actual results may differ from projected results and that such differences may be material); provided that, with respect
to any Information or Projections prepared by or relating to the Acquired Company or its subsidiaries, the foregoing representations
are made only to the best of your knowledge. You agree that if at any time until the Closing Date (or, if a successful syndication
shall not have been achieved by the Closing Date, the earlier of the completion of a successful syndication and the 60th day after
the Closing Date) the representations in the immediately preceding sentence would not be true if the Information and Projections
were being furnished (and, in the case of Projections, the applicable assumptions were being made), and such representations were
being made, at such time, then you will promptly supplement the Information and the Projections so that such representations or
warranties would be true under those circumstances. You understand that in connection with the syndication of the Facility we will
use and rely on the Information without independent verification thereof.

 

JPMorgan will, in consultation
with you, manage all aspects of the syndication of the Facility, including decisions as to the selection of institutions to be
approached and when they will be approached, when their commitments will be accepted, which institutions will participate, the
allocations of the commitments among the Lenders, the allocation of any title or role to any Lender and the amount and distribution
of fees among the Lenders, it being understood and agreed that each Lender (other than any Lender that is a party to the Existing
Company Credit Agreement or has otherwise been specifically identified in a writing agreed by you and us prior to the date hereof
as a permitted assignee (each such Lender, a “Permitted Assignee”)) shall be subject to your consent (not to
be unreasonably withheld or delayed), provided that, after the funding under the Facility, your consent shall not be required
in respect of any Lender becoming a party to the Facility in connection with the Initial Syndication or the General Syndication
(each as defined below). It is agreed that JPMCB and, upon becoming a party hereto, each Additional Initial Lender (as defined
below) may assign portions of its commitment hereunder to one or more Permitted Assignees and that upon the effectiveness of any
such assignment JPMCB and each Additional Initial Lender will be released from the portion of its commitment so assigned (such
assignments to be allocated, as among JPMCB and the Additional Initial Lenders, in the manner determined by JPMorgan). It is further
agreed that such assignments may be made as part of the general syndication of the Facility (the “General Syndication”,
and any financial

 

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institution to which
an assignment is made as part of the General Syndication being referred to as a “General Syndication Lender”)
or as part of the solicitation of interest in the Facility prior to the launch of the General Syndication (the “Initial
Syndication”, and any financial institution to which such an assignment is made as part of the Initial Syndication being
referred to as an “Additional Initial Lender”). In connection with any assignments to Additional Initial Lenders
as part of the Initial Syndication, you agree (a) at the request of JPMorgan, at the earliest practicable date following delivery
to you of a draft of appropriate documentation (including, if requested by JPMorgan, an amendment and restatement of this Commitment
Letter, or one or more joinder agreements, pursuant to which such Additional Initial Lenders will become parties to this Commitment
Letter and extend commitments in respect of the Facility directly to you) containing such provisions relating to the allocation
of titles and roles, rights and responsibilities in connection with the syndication of the Facility, the allocation of any reductions
in the amount of the Facility and, to the extent determined by JPMorgan, rights of the Additional Initial Lenders to participate
in determinations to be made by JPMorgan under this Commitment Letter and the Arranger Fee Letter (but which will not, except as
agreed by you, add any new conditions to the availability of the Facility or change the terms of the Facility or increase the aggregate
compensation payable by you in connection therewith as set forth in this Commitment Letter and in the Fee Letters), to execute
and deliver such documentation, and (b) that JPMorgan shall have “left” placement in any and all marketing materials
and other documentation used in connection with the Facility and shall have the authority customarily associated with such placement.
You acknowledge and agree that the amount of the Facility will be reduced as provided under the “Optional Commitment Reduction
and Prepayment” section of the Term Sheet and under clause (a) or clause (b) of the “Mandatory Commitment Reduction
and Prepayment” section of the Term Sheet upon the occurrence of any of the events described therein at any time after the
date hereof, and that any such reduction will be allocated among the commitments of JPMCB and the Additional Initial Lenders in
respect of the Facility in the manner determined by JPMorgan.

 

As consideration for
JPMCB’s commitment hereunder and our agreements to perform the services described herein, you agree to pay to us fees in
the amounts and at the times set forth in the arranger fee letter dated the date hereof and delivered herewith (the “Arranger
Fee Letter”) and the administrative agent fee letter dated the date hereof and delivered herewith (the “Administrative
Agent Fee Letter” and, together with the Arranger Fee Letter, the “Fee Letters”).

 

The commitment of JPMCB
and the agreements of JPMCB and JPMorgan hereunder are subject to (a) since December 31, 2014, there not having occurred or come
to our attention any change, event, circumstance or development that has resulted, or could reasonably be expected to result, in
a Company Material Adverse Effect, (b) the negotiation, execution and delivery of definitive documentation for the Facility prepared
by our counsel, consistent with this Commitment Letter, the Term Sheet and the Fee Letters and satisfactory to us and you, (c)
your performance of your obligations expressly set forth in the third, fourth, fifth, sixth and seventh paragraphs of this Commitment
Letter and in the Fee Letters and (d) the other conditions expressly set forth in the Term Sheet and in Exhibit B hereto.

 

For purposes of the foregoing, “Company
Material Adverse Effect” means any change, condition, occurrence, effect, event, circumstance or development (each a
“Change”, and collectively, “Changes”), individually or in the aggregate, and taken together
with all other Changes that have occurred prior to the date of determination of the occurrence of the Company Material Adverse
Effect, that (a) has had or would reasonably be expected to have a material adverse effect on the business, assets, Liabilities
(such term and each other capitalized term in this definition that is not otherwise defined in this Commitment Letter having the
meaning

 

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assigned in the Acquisition Agreement as in effect on the date
hereof), condition (financial or otherwise) or results of operations of the Acquired Company and its Subsidiaries, taken as a whole,
or (b) would reasonably be expected to prevent, materially delay or materially impair the ability of the Acquired Company to consummate
the Merger and the other transactions contemplated by the Acquisition Agreement; provided, however, that no Change (by itself
or when aggregated or taken together with any and all other Changes) directly or indirectly resulting from, attributable to or
arising out of any of the following shall be deemed to be or constitute a “Company Material Adverse Effect,” and no
Change (by itself or when aggregated or taken together with any and all other such Changes) directly or indirectly resulting from,
attributable to or arising out of any of the following shall be taken into account when determining whether a “Company Material
Adverse Effect” has occurred, to the extent such Changes do not disproportionately affect the Acquired Company and its Subsidiaries
in any material respect relative to other companies operating in any industry or industries in which the Acquired Company and its
Subsidiaries operate in the events of (i) through (vi):

 

(i)          general
economic conditions (or changes in such conditions) in the United States or any other country or region in the world, or conditions
in the global economy generally;

 

(ii)         conditions
(or changes in such conditions) in the securities markets, capital markets, credit markets, currency markets or other financial
markets in the United States or any other country or region in the world, including (A) changes in interest rates in the United
States or any other country or region in the world and changes in exchange rates for the currencies of any countries and (B) any
suspension of trading in securities (whether equity, debt, derivative or hybrid securities) generally on any securities exchange
or over-the-counter market operating in the United States or any other country or region in the world;

 

(iii)        conditions
(or changes in such conditions) in the industries in which the Acquired Company and its Subsidiaries conduct business;

 

(iv)        political
conditions (or changes in such conditions) in the United States or any other country or region in the world or acts of war, sabotage
or terrorism (including any escalation or general worsening of any such acts of war, sabotage or terrorism) in the United States
or any other country or region in the world;

 

(v)         earthquakes,
hurricanes, tsunamis, tornadoes, floods, mudslides, wild fires or other natural disasters, weather conditions and other force majeure
events in the United States or any other country or region in the world;

 

(vi)        changes
in law or other legal or regulatory conditions (or the interpretation thereof) or changes in GAAP or other accounting standards
(or the interpretation thereof);

 

(vii)       the
announcement of, or the compliance with the express terms of, the Acquisition Agreement, or the pendency or consummation of the
transactions contemplated hereby, including (A) the identity of the Company, (B) any departure or termination of any officers,
directors, employees or independent contractors of the Acquired Company or its Subsidiaries, (C) the termination or potential termination
of (or the failure or potential failure to renew or enter into) any Contracts with customers,

 

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suppliers, distributors or other
business partners, and (D) any other negative development (or potential negative development) in the Acquired Company’s relationships
with any of its customers, suppliers, distributors or other business partners;

 

(viii)      data
derived from clinical trials being conducted by or on behalf of the Acquired Company or its Subsidiaries or the announcements thereof
(but not, in each case, the underlying cause of such data to the extent such cause relates to any adverse event that would require
a report to the United States Food and Drug Administration or any successor thereto (the “FDA”) pursuant to
21 C.F.R. 312.32(c)(1) or 21 C.F.R. 312.32(c)(2), or any foreign equivalent thereof (any such event, a “Serious Adverse
Event”));

 

(ix)        any
determination by, or delay of a determination by, the FDA or any other Governmental Authority, or any panel or advisory body empowered
or appointed thereby, or any indication that any such entity, panel or body will make any determination or delay in making any
determination, with respect to the approvability, labeling, contents of package insert, prescribing information, risk management
profile, CMC matters, pre-approval inspection matters or requirements relating to the results of any pre-clinical or clinical testing
sponsored by the Acquired Company, any of its competitors or any of their respective collaboration partners (but not, in each case,
the underlying cause of such determination or delay of a determination to the extent such cause relates to any Serious Adverse
Event);

 

(x)         any
recommendations or statements published or proposed by any professional medical organization, Governmental Authority or panel or
advisory body empowered or appointed thereby, relating to products or product candidates of the Acquired Company or any of its
competitors (but not, in each case, the underlying cause of such recommendations or statements to the extent such cause relates
to any Serious Adverse Event);

 

(xi)        any
actions taken or failures to take action, in each case, by the Company or any of its controlled Affiliates, or to which an officer
of the Company has consented, or which an officer of the Company has requested (and which, in the case of any of the foregoing
actions or failures to take action that either (a) require your consent or the consent of Merger Sub under the Acquisition Agreement
or (b) could reasonably be expected to affect the Lenders in a materially adverse manner, have been consented to by JPMorgan),
or the taking of any action required by the express terms of the Acquisition Agreement, or the failure to take any action prohibited
by the express terms of the Acquisition Agreement;

 

(xii)       changes
in the Acquired Company’s stock price or the trading volume of the Acquired Company’s stock, in and of itself, or any
failure by the Acquired Company to meet any estimates or expectations of the Acquired Company’s revenue, earnings or other
financial performance or results of operations for any period, in and of itself, or any failure by the Acquired Company to meet
any internal budgets, plans or forecasts of its revenues, earnings or other financial performance or results of operations, in
and of itself (but not, in each case, the underlying cause of such changes or failures, unless such changes or failures would otherwise
be excepted from this definition); or

 

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(xiii)      any
Legal Proceedings made or brought by any of the current or former stockholders of the Acquired Company (on their own behalf or
on behalf of the Acquired Company) against the Acquired Company arising out of the Merger or in connection with any other transactions
contemplated by the Acquisition Agreement.

 

Notwithstanding anything
in this Commitment Letter, the Term Sheet or the Fee Letters to the contrary (but subject to the satisfaction of the conditions
set forth or referred to herein), (a) the only representations relating to the Company, the Acquired Company and their respective
subsidiaries the accuracy of which shall be a condition to availability of the Facility on the Closing Date shall be (i) the representations
made by the Acquired Company in the Acquisition Agreement, but only to the extent that you (or any of your subsidiaries) have the
right under the Acquisition Agreement not to consummate the Offer or the Merger as a result of such representations in the Acquisition
Agreement being inaccurate (the “Acquisition Agreement Representations”), and (ii) the Specified Representations
(as defined below) and (b) the terms of the definitive documentation for the Facility shall be negotiated by the parties hereto
in good faith and will be in a form such that the Facility will not be unavailable on the Closing Date if the conditions set forth
or referred to herein and in the exhibits hereto are satisfied. For purposes hereof, “Specified Representations”
means the representations and warranties set forth in the Term Sheet with respect to organization and power, authorization, due
execution and delivery, noncontravention, governmental approvals, enforceability, solvency, Federal Reserve margin regulations,
Investment Company Act status and anti-corruption and trade sanctions laws. The provisions of this paragraph are referred to as
the “Limited Conditions Provision”.

 

You agree (a) to indemnify
and hold harmless JPMCB, JPMorgan and each of their affiliates, and each of the respective officers, directors, employees, members,
partners, trustees, advisors, agents and controlling persons of the foregoing (each, an “indemnified person”),
from and against any and all losses, claims, damages, liabilities and expenses, joint or several, to which any such indemnified
person may become subject arising out of or in connection with this Commitment Letter, the Term Sheet, the Fee Letters, the Facility,
the use of the proceeds thereof and the Acquisition and any related transaction or any claim, litigation, investigation or proceeding
relating to any of the foregoing, regardless of whether any indemnified person is a party thereto (and regardless of whether such
matter is initiated by you or by any other person), and to reimburse each indemnified person within 30 days following written demand
(together with reasonable backup documentation supporting such reimbursement request) for any reasonable and documented legal or
other out-of-pocket expenses incurred in connection with investigating or defending any of the foregoing (but limited, in the case
of legal fees and expenses, to one firm of counsel selected by JPMorgan for all such indemnified persons, taken as a whole, and,
solely in the case of an actual or potential conflict of interest where the indemnified person affected by such conflict informs
you of such conflict and thereafter retains its own counsel, one firm of counsel for such affected indemnified person (and, if
reasonably necessary, of one firm of local counsel in any relevant jurisdiction for all such indemnified persons, taken as a whole
and, solely in the case of an actual or potential conflict of interest where the indemnified person affected by such conflict informs
you of such conflict and thereafter retains its own counsel, one additional local counsel to each such affected indemnified person
in each such relevant jurisdiction); provided that the foregoing indemnity will not, as to any indemnified person, apply
to losses, claims, damages, liabilities or related expenses to the extent (i) they are determined by a final, non-appealable judgment
of a court of competent jurisdiction to have resulted from (A) the willful misconduct or gross negligence of such indemnified person
or (B) a material breach by such indemnified person of its agreements under this Commitment Letter or the Fee Letters that is not
cured promptly after it comes to our attention, or (ii) any dispute solely

 

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among indemnified persons
which does not arise out of or in connection with any act or omission of the Company or any of its subsidiaries (other than a dispute
involving a claim against any indemnified person in its capacity as an arranger, agent or similar role in connection with the Facility
or the Existing Company Credit Agreement); and (b) to reimburse JPMCB, JPMorgan and each of their affiliates within 30 days following
receipt of the relevant invoice for all reasonable and documented out-of-pocket expenses
(including reasonable due diligence and travel expenses, if any, and reasonable and documented fees, charges and disbursements
of counsel (limited, in the case of legal fees and expenses, to the reasonable fees, charges and disbursements of Cravath, Swaine
& Moore LLP, as legal counsel to the Arranger and Administrative Agent and, if reasonably necessary, one local counsel in each
relevant jurisdiction for the Arranger and Administrative Agent)) incurred in connection with the Facility and any related documentation
(including this Commitment Letter, the Term Sheet, the Fee Letters and the definitive documentation for the Facility) or the preparation,
amendment, modification or waiver of any thereof. No indemnified person shall be liable for any damages arising from the use of
Information or other materials obtained through electronic, telecommunications or other information transmission systems, in each
case except to the extent any such damages are found by a final, non-appealable judgment of a court of competent jurisdiction to
arise from the gross negligence, bad faith or willful misconduct of such indemnified person, or for any special, indirect, consequential
or punitive damages in connection with this Commitment Letter, the Term Sheet, the Fee Letters, the Facility or its activities
related thereto.

 

This Commitment Letter
shall not be assignable by you without the prior written consent of JPMCB and JPMorgan (and any purported assignment without such
consent shall be null and void), is intended to be solely for the benefit of the parties hereto and the indemnified persons and
is not intended to confer any benefits upon, create any rights in favor of or be enforceable by or at the request of any person
other than the parties hereto and the indemnified persons. JPMCB and each Additional Initial Lender may assign portions of its
commitment to Additional Initial Lenders pursuant to the Initial Syndication and to the General Syndication Lenders pursuant to
the General Syndication (in each case as and subject to the limitations set forth in this Commitment Letter), and upon any such
assignment JPMCB or such Additional Initial Lender, as the case may be, shall be released from the portion of its commitment so
assigned. Any and all obligations of, and services to be provided by, JPMCB or JPMorgan hereunder may be performed, and any and
all rights of any of JPMCB or JPMorgan hereunder may be exercised, by or through its affiliates; provided that neither JPMCB
nor JPMorgan shall be relieved of any of its obligations hereunder in the event any such affiliate shall fail to perform such obligation
in accordance with the terms hereof. The commitments hereunder of JPMCB and the Additional Initial Lenders shall be superseded
by the commitments in respect of the Facility set forth in the definitive credit agreement for the Facility, and upon the execution
and delivery of the definitive credit agreement for the Facility by the parties thereto JPMCB and each Additional Initial Lender
shall be released from its commitment hereunder.

 

This Commitment Letter
may not be amended or waived except by an instrument in writing signed by you, JPMCB and JPMorgan. This Commitment Letter may be
executed in any number of counterparts, each of which shall be an original, and all of which, when taken together, shall constitute
one agreement. Delivery of an executed signature page of this Commitment Letter by facsimile transmission or other electronic means
shall be effective as delivery of a manually executed counterpart hereof. This Commitment Letter and the Fee Letters are the only
agreements that have been entered into among the parties hereto with respect to the Facility and set forth the entire understanding
of the parties hereto with respect thereto.

 

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This
Commitment Letter shall be governed by, and construed in accordance with, the laws of the State of New York; provided
that the interpretation of the definition of the term “Company Material Adverse Effect” shall be governed by, and construed
in accordance with, the laws of the State of Delaware. Each party hereto irrevocably
and unconditionally submits to the exclusive jurisdiction of any state or Federal court sitting in the city of New York over any
suit, action or proceeding directly or indirectly arising out of, relating to, based upon or as a result of this Commitment Letter,
the Term Sheet, the Fee Letters or the transactions contemplated hereby. Each party hereto agrees that service of any process,
summons, notice or document by registered mail addressed to it at the address set forth above shall be effective service of process
for any suit, action or proceeding brought in any such court. Each party hereto irrevocably and unconditionally waives any objection
to the laying of venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action
or proceeding has been brought in any inconvenient forum. Each party hereto agrees that a final judgment in any such suit, action
or proceeding brought in any such court shall be conclusive and binding upon it and may be enforced in any other courts to whose
jurisdiction it is or may be subject, by suit upon judgment. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF, RELATING
TO, BASED UPON OR AS A RESULT OF THIS COMMITMENT LETTER, THE TERM SHEET, THE FEE LETTERS OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

This Commitment Letter
is delivered to you on the understanding that none of this Commitment Letter, the Term Sheet, the Fee Letters or any of their terms
or substance shall be disclosed, directly or indirectly, by you to any other person, except that (a) this Commitment Letter,
the Term Sheet, the Fee Letters and their terms and substance may be disclosed to your directors, officers, employees, agents,
auditors, attorneys and other advisors and representatives who are directly involved in the consideration of this matter and informed
of the confidential nature thereof, (b) this Commitment Letter, the Term Sheet and their terms and substance (and a version of
the Arranger Fee Letter redacted in a manner reasonably acceptable to JPMorgan) may be disclosed to the Acquired Company and its
directors, officers, employees, agents, auditors, attorneys and other advisors and representations who are directly involved in
the consideration of the Acquisition and informed of the confidential nature thereof, (c) this Commitment Letter, the Term Sheet
and their terms and substance (i) to Moody’s and S&P on a confidential basis, (ii) in any prospectus, offering memorandum
or confidential information memorandum relating to any Permanent Financing and (iii) in one or more filings with the Securities
and Exchange Commission (it being agreed, however, that the Fee Letters or their terms or substance will not be disclosed pursuant
to this clause (c) except as part of any disclosure in a filing with the Securities and Exchange Commission of aggregate fees and
expenses in connection with the contemplated transactions that does not permit the determination of particular fees), (d) this
Commitment Letter, the Term Sheet, the Fee Letters and their terms and substance otherwise may be disclosed to the extent reasonably
necessary in connection with the exercise of any remedy or enforcement of any right under this Commitment Letter, the Term Sheet
and/or Fee Letters and (e) this Commitment Letter, the Term Sheet, the Fee Letters and their terms and substance otherwise may
be disclosed as may be compelled in a judicial or administrative proceeding or as otherwise required by law (in which case you
agree to inform us promptly thereof), with the Company hereby acknowledging that no disclosure of the Fee Letters is required to
be made in its filings with the Securities and Exchange Commission. The foregoing restrictions shall cease to apply in respect
of the existence and contents of this Commitment Letter (but not in respect of the Fee

 

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Letters and their contents)
on the earlier of the Closing Date and the date one year following the date on which this Commitment Letter has been signed by
you.

 

The Commitment Parties
shall treat confidentially all confidential information provided to them by or on behalf of you hereunder; provided, however,
that nothing herein shall prevent the Commitment Parties from disclosing any such information (a) pursuant to the order of any
court or administrative agency or in any pending legal or administrative proceeding, or otherwise as required by applicable law
or compulsory legal process (in which case the applicable Commitment Party agrees, to the extent practicable and not prohibited
by applicable law, to inform you promptly thereof), (b) upon the request or demand of any regulatory authority having or claiming
to have jurisdiction over the Commitment Parties or any of their respective affiliates (including, without limitation, in the course
of inspections, examinations or inquiries by federal or state government agencies, regulatory agencies, self-regulatory agencies
and rating agencies), (c) to the extent that such Information becomes publicly available other than by reason of disclosure in
violation of this agreement by the Commitment Parties, (d) to the Commitment Parties’ affiliates, and the Commitment Parties’
and their affiliates’ employees, officers, directors, legal counsel, independent auditors and other experts or agents who
need to know such Information in connection with the Transactions and are informed of the confidential nature of such Information
and instructed to keep such confidential Information confidential, (e) for purposes of establishing any defense available under
state and federal securities laws, including, without limitation, a “due diligence” defense, or for the purpose of
enforcing any rights of the Commitment Parties under this Commitment Letter or any Fee Letter, (f) to the extent that such Information
is or was received by the Commitment Parties from a third party that is not to the Commitment Parties’ knowledge subject
to confidentiality obligations to you, (g) to the extent that such Information is independently developed by the Commitment
Parties or (h) to potential Lenders, participants or assignees who agree to be bound by the terms of this paragraph (or language
substantially similar to this paragraph or as otherwise reasonably acceptable to you and each Commitment Party, including as may
be agreed in any confidential information memorandum or other marketing material); provided that, notwithstanding anything
herein to the contrary, in the case of any Commitment Party that is, or an affiliate of which is, a party to the Existing Company
Credit Agreement, such Commitment Party and its affiliates may disclose any such Information as and to the extent permitted by
such Existing Company Credit Agreement. The obligations of the Commitment Parties under this paragraph shall be superseded by the
confidentiality provisions of the definitive documentation for the Facility or, if such definitive documentation is not executed
and delivered, will terminate on the date that is two years after the date hereof.

 

You agree that each of
JPMCB and JPMorgan will act under this Commitment Letter as an independent contractor and that nothing in this Commitment Letter
or the Fee Letters, or the communications pursuant hereto or otherwise, will be deemed to create an advisory, fiduciary or agency
relationship or fiduciary or other implied duty between JPMCB or JPMorgan, on the one hand, and you, the Acquired Company or your
or its subsidiaries, affiliates or equityholders, on the other, irrespective of whether either JPMCB or JPMorgan has advised or
is advising you on other matters. You acknowledge and agree that (a) the financing transactions contemplated by this Commitment
Letter and the Fee Letters are arm’s-length commercial transactions among us and you, (b) in connection therewith and
with the process leading to such transactions, each of us is acting solely as a principal and not as an agent or fiduciary of you,
the Acquired Company, your or its subsidiaries and affiliates or any other person, and none of us has assumed (and will not be
deemed on the basis of our communications or activities hereunder to have assumed) an advisory or fiduciary responsibility or any
other obligation in favor of you, the Acquired Company, your or its subsidiaries or affiliates or any other person (irrespective
of

 

    	10

    	 

    

 

whether any of us or
any of our affiliates are concurrently providing other services to you), and (c) you are responsible for making your own independent
judgment with respect to such transactions and the process leading thereto and have consulted your own legal and financial advisors
to the extent you have deemed appropriate.

 

You acknowledge that
JPMCB, JPMorgan and their affiliates may be providing debt financing, equity capital or other services (including financial advisory
services) to other companies in respect of which you or the Acquired Company may have conflicting interests. Neither JPMCB nor
JPMorgan will use confidential information obtained from you in connection with the transactions contemplated hereby in connection
with the performance by it of services for other companies, or will furnish any such information to other companies. You also acknowledge
that neither JPMCB nor JPMorgan has any obligation to use in connection with the transactions contemplated hereby, or to furnish
to you, confidential information obtained from other companies.

 

You further acknowledge
that JPMCB and JPMorgan, together with their affiliates, is a full service securities firm engaged in securities trading and brokerage
activities as well as providing investment banking and other financial services. In the ordinary course of business, JPMCB, JPMorgan
and their affiliates may provide investment banking and other financial services to, and/or acquire, hold or sell, for their own
accounts and the accounts of customers, equity, debt and other securities and financial instruments (including bank loans and other
obligations) of, you and your subsidiaries and other companies with which you or your subsidiaries may have commercial or other
relationships. With respect to any securities and/or financial instruments so held by any of us, any of our affiliates or any of
our or their customers, all rights in respect of such securities and financial instruments, including any voting rights, will be
exercised by the holder of the rights, in its sole discretion.

 

The provisions contained
herein and in the Fee Letters relating to compensation, expense reimbursement, indemnification, governing law, submission to jurisdiction,
waiver of jury trial and confidentiality shall remain in full force and effect notwithstanding the termination of this Commitment
Letter or the commitment hereunder, and whether or not definitive documentation for the Facility shall be executed.

 

Each of JPMCB and JPMorgan
hereby notifies you that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October
26, 2001)) (the “Patriot Act”), it and the Lenders is required to obtain, verify and record information that
identifies you, which information includes your name and address and other information that will allow JPMCB, JPMorgan and the
Lenders to identify you in accordance with the Patriot Act.

 

If the foregoing correctly
sets forth our agreement, please indicate your acceptance of the terms hereof and of the Term Sheet and the Fee Letters by returning
to us executed counterparts hereof and of the Fee Letters not later than 6:00 p.m., New York City time, on July 14, 2015, failing
which JPMCB’s commitment and the agreements of JPMCB and JPMorgan hereunder will expire at such time. In the event the Closing
Date shall not theretofore have occurred, JPMCB’s commitment and the agreements of JPMCB and JPMorgan hereunder will automatically
expire and terminate on 5:00 p.m., New York City time, on July 14, 2016, without any further action or notice and without any further
obligation, unless each of JPMCB and JPMorgan, it its discretion, shall agree to an extension.

 

[Signature pages follow.]

 

    	11

    	 

    

 

We are pleased to have
been given the opportunity to assist you in connection with this important financing.

 

	 	Very truly yours,
	 	 	 
	 	 	jpmorgan chase bank, n.a.,
	 	 	 
	 	 	by	/s/ Vanessa Chiu
	 	 	 	Name:  Vanessa Chiu
	 	 	 	Title:    Executive Director

 

	 	 	J.P. Morgan SECURITIES LLC,
	 	 	 
	 	 	by	/s/ Thomas Delaney
	 	 	 	Name: Thomas Delaney
	 	 	 	Title:   Executive Director

 

Accepted and agreed to as of

the date set forth above by:

 

	Celgene Corporation,
	 
	by	/s/ Robert J. Hugin
	 	Name: Robert J. Hugin
	 	Title:   Chariman and CEO

 

    	12

    	 

    

 

EXHIBIT A

 

Project Strix

US$5,000,000,000 Bridge Loan Facility

Summary of Terms and Conditions1

 

	Borrower:	Celgene Corporation, a Delaware corporation (the “Borrower”).
	 	 
	Facility:	US$5,000,000,000 senior unsecured 364-day bridge loan facility (the “Facility”).
	 	 
	Sole Lead Arranger

and Sole Bookrunner:	J.P. Morgan Securities LLC (in such capacity, the “Arranger”).
	 	 
	Administrative Agent:	JPMorgan Chase Bank, N.A. (“JPMCB” and, in such capacity, the “Administrative Agent”).
	 	 
	Lenders:	A syndicate of lenders, including JPMCB, identified by the Arranger in consultation with the Borrower (the “Lenders”).
	 	 
	Transactions:	The Borrower is entering into an Agreement and Plan of Merger (including all schedules and exhibits thereto, the “Acquisition Agreement”) among the Borrower, a newly formed wholly owned subsidiary of the Borrower (“Acquisition Sub”) and a company previously identified to the Arranger and code-named Strix (the “Acquired Company”), pursuant to which the Borrower will acquire the Acquired Company through (a) the purchase of shares of common stock of the Acquired Company by a wholly-owned subsidiary of the Company (“Merger Sub”) pursuant to a tender offer for any and all such shares (the “Offer”) and (b) promptly following the closing of the Offer, the merger of Merger Sub with and into the Acquired Company pursuant to Section 251(h) of the Delaware General Corporation Law (the “Merger”), with the Acquired Company surviving such Merger as the Company’s direct or indirect wholly-owned subsidiary (the “Acquisition”).   In connection with the foregoing, the Borrower will (a) obtain the Facility and (b) pay the fees and expenses incurred in connection with the Acquisition and the Facility (the “Transaction Costs”).  It is anticipated that all or a portion of the Facility will be replaced or refinanced by (i) the issuance of senior unsecured notes of the Borrower in a public offering or in a Rule 144A or other private placement (the “New Notes”) and/or (ii) the issuance of equity or equity-linked securities of the Borrower in a public offering (the “New Equity” and, together with the New Notes, the “Permanent Financing”).  The transactions referred to in this paragraph are collectively referred to as the “Transactions”.

 

 

1
Capitalized terms used but not otherwise defined in this Exhibit A have the meanings assigned thereto in the Commitment Letter
to which this Exhibit A is attached, including the other exhibits thereto.

 

    	 

    	 

    

 

	Availability:	The Facility will be available in a single drawing on the date on which the Offer is consummated (the “Closing Date”), but in no event later than the earlier of (a) July 14, 2016, and (b) the date that the Acquisition Agreement is terminated or expires in accordance with its terms without the closing of the Acquisition.  Amounts borrowed under the Facility that are repaid or prepaid may not be reborrowed.
	 	 
	Use of Proceeds:	The proceeds of the Facility will be used by the Borrower on the Closing Date, together with cash on hand, to finance the Acquisition and the other Transactions.
	 	 
	Maturity:	The Facility will mature on the day that is 364 days after the Closing Date and, prior to the final maturity thereof, will not be subject to any scheduled amortization.
	 	 
	Interest Rates and Fees:	As set forth on Annex I hereto.
	 	 
	Optional Commitment Reduction and Prepayment:	The Borrower will be permitted, upon at least three business days’ prior notice, to terminate in whole, or from time to time reduce in part, the commitments under the Facility without penalty, in minimum amounts and multiples to be agreed.
	 	 
	 	The Borrower will be permitted, upon same day notice for ABR loans and at least three business days’ notice for Eurodollar loans, to prepay loans under the Facility in whole or in part, in minimum amounts and multiples to be agreed.
	 	 
	Mandatory Commitment Reduction and Prepayment:	
        Commitments will be reduced, and loans
        will be required to be prepaid, under the Facility in an aggregate amount equal to:

         

        (a) 100% of the net
        cash proceeds received by, or the aggregate amount of commitments obtained by, the Borrower or any of its subsidiaries from any
        Debt Incurrence (as defined below), in each case after the date of the Commitment Letter to which this Exhibit A is attached, whether
        before or after the Closing Date;

         

        (b) 100% of the net
        cash proceeds received by the Borrower or any of its subsidiaries from any Equity Issuance (as defined below) after the date of
        the Commitment Letter to which this Exhibit A is attached, whether before or after the Closing Date; and

         

        (c) 100% of the net
        cash proceeds received by the Borrower or any of its subsidiaries from any sale or other disposition of assets (including proceeds
        from the sale of equity interests in any subsidiary of the Borrower and insurance and condemnation proceeds) consummated after
        the date of the Commitment Letter to which this Exhibit A is attached, whether before or after the Closing Date, subject to reinvestment
        rights to be agreed.

 

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	 	“Debt Incurrence” means any incurrence of debt for borrowed money by the Borrower or any of its subsidiaries, whether pursuant to a public offering or in a Rule 144A or other private placement of debt securities (including debt securities convertible into equity securities) or incurrence of loans under any loan or credit facility, or any establishment of any commitments to make available to the Borrower or any of its subsidiaries any indebtedness for borrowed money, whether under any loan or credit facility or otherwise, other than (a) intercompany debt, (b) debt under the Existing Company Credit Agreement (but not any incremental commitments thereunder effected after the date of the Commitment Letter to which this Exhibit A is attached), (c) refinancings of existing indebtedness and (d) working capital facilities entered into by foreign subsidiaries of the Borrower.
	 	 
	 	“Equity Issuance” means any issuance of equity or equity-linked securities by the Borrower or any of its subsidiaries, whether pursuant to a public offering or in a Rule 144A or other private placement, other than securities issued pursuant to employee stock plans or employee compensation plans.
	 	 
	Prepayments Generally:	All prepayments of loans under the Facility will be subject to, in the case of Eurodollar loans, compensation for breakage costs incurred by the Lenders if occurring other than on the last day of an Interest Period, but otherwise without penalty.
	 	 
	Documentation:	The Facility will be documented under a credit agreement that will be consistent with this Exhibit A and will contain representations and warranties, affirmative covenants, negative covenants and events of default substantially similar to those in the Borrower’s US$1,750,000,000 Second Amended and Restated Credit Agreement dated as of April 17, 2015 (as in effect on the date hereof, the “Existing Company Credit Agreement”), with such changes thereto as are necessary or reasonably appropriate to reflect the terms set forth in this Exhibit A and in the Commitment Letter to which this Exhibit A is attached and the nature of the transactions contemplated hereby.
	 	 
	Representations

and Warranties:	Limited to organization and powers; authorization, due execution and delivery; noncontravention of organizational documents, law or contractual restrictions; governmental approvals; enforceability; annual, quarterly and pro forma financial statements; absence of events or conditions that have resulted or would reasonably be expected to result in a material adverse change; absence of litigation relating to the Facility and other material litigation; Federal Reserve margin regulations; Investment Company Act status; disclosure; solvency after giving effect to the Transactions; and anti-corruption laws and regulations and trade sanctions.
	 	 
	Conditions Precedent

to Funding:	The borrowing under the Facility will be subject to the receipt of a borrowing notice therefor and the conditions set forth or referred to in the eighth paragraph of, or in Exhibit B to, the Commitment Letter.

 

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	Affirmative Covenants:	Limited to compliance with laws (including anti-corruption laws and regulations and trade sanctions); payment of taxes; maintenance of insurance; preservation of existence; visitation rights; keeping of books; maintenance of properties; transactions with affiliates; delivery of annual and quarterly financial statements and other information; and delivery of notices of defaults or events of default.
	 	 
	Negative Covenants:	Limited to restrictions on liens; mergers, consolidations or transfers of all or substantially all assets; subsidiary debt; changes in nature of business; and use of proceeds (including, without limitation, in compliance with anti-corruption laws and regulations and trade sanctions).
	 	 
	Financial Covenants:	
        (a)  Maximum
        debt to EBITDA ratio, with required levels to be agreed.

         

        (b)  Minimum
        EBITDA to interest expense ratio, with required levels to be agreed.

	 	 
	Events of Default:	Limited to nonpayment of principal; nonpayment of interest, fees or other amounts (subject to a three Business Day grace period); inaccuracy of representations and warranties in any material respect; noncompliance with covenants; cross-payment default and cross-default resulting in or permitting acceleration in respect of indebtedness of $150,000,000 or more in the aggregate; bankruptcy and insolvency events; judgment defaults; change of control; and certain ERISA events.
	 	 
	Cost and Yield Protection:	The credit agreement for the Facility will contain yield protection provisions, customary for facilities of this nature, protecting the Lenders in the event of unavailability of funding, funding losses, and reserve, capital adequacy or liquidity requirements (including, for the avoidance of doubt, any changes resulting from requests, rules, guidelines or directives concerning capital adequacy (x) issued in connection with the Dodd-Frank Wall Street Reform and Consumer Protection Act or (y) promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, regardless of the date enacted, adopted or issued).
	 	 
	 	All payments to be free and clear of any present or future taxes, withholdings or other deductions whatsoever (other than income taxes in the jurisdiction of the Lender’s applicable lending office).  The Lenders will use reasonable efforts to minimize to the extent possible any applicable taxes and the Borrower will indemnify the Lenders and the Agent for such taxes paid by the Lenders or the Agent.
	 	 
	 	The Borrower will have the right to replace any defaulting Lender or any Lender which requests reimbursements for amounts owing under this section, provided that (i) no Default or Event of Default has occurred and is continuing, (ii) the Borrower has satisfied all of its obligations under the Facility relating to such Lender, and (iii) any replacement is acceptable to the Agent and the Borrower has paid the 

 

    	4

    	 

    

 

	 	Agent a $3,500 administrative fee if such replacement Lender is not an existing Lender.
	 	 
	Defaulting Lenders:	The credit agreement for the Facility will contain customary “defaulting lender” provisions.
	 	 
	Voting Rights:	Amendments and waivers will require the approval of Lenders holding a majority of the aggregate amount of the loans and unused commitments under the Facility; provided that the consent of all affected Lenders will be required with respect to customary matters, including (a) reductions in the unpaid principal amount or extensions of the scheduled final maturity date for the payment of principal of any loan, (b) reductions in interest rates or fees or extensions of the dates for payment thereof and (c) increases in the amounts or extensions of the expiry date of the Lenders’ commitments, and the consent of 100% of the Lenders will be required with respect to (i) modifications of the pro rata provisions of the credit agreement and (ii) modifications to any of the voting percentages.
	 	 
	Assignments and Participations:	The Borrower may not assign its rights or obligations under the Facility without the prior written consent of the Lenders.  Each Lender will have the right to assign to one or more eligible assignees all or a portion of its rights and obligations under the loan documents, with the consent, not to be unreasonably withheld or delayed, of the Administrative Agent and, so long as no Event of Default is continuing, the Borrower, in each case not to be unreasonably withheld, provided that (a) the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Agent within five business days after having received notice thereof and (b) no consent of the Borrower will be required after the Closing Date in the case of assignments to another Lender or an affiliate of a Lender or to approved funds, or as part of the primary syndication of the Facility.  Minimum aggregate assignment levels will be $5,000,000 and increments of $1,000,000 in excess thereof.  The parties to the assignment (other than the Borrower) will pay to the Administrative Agent an administrative fee of $3,500.
	 	 
	 	Each Lender will also have the right, without the consent of the Borrower or the Administrative Agent, to assign (i) as security, all or part of its rights under the loan documents, including to any Federal Reserve Bank and (ii) with notice to the Borrower and the Administrative Agent, all or part of its rights and obligations under the loan documents to any of its affiliates or another Lender.
	 	 
	 	Each Lender will have the right to sell participations in its rights and obligations under the loan documents, subject to customary restrictions on the participants’ voting rights.
	 	 
	Expenses and

 Indemnification:	The Borrower will pay (a) all reasonable and documented out-of-pocket expenses of the Administrative Agent and the Arranger and their affiliates associated with (i) the arrangement and syndication of the Facility and (ii) the preparation, execution, delivery and administration

 

    	5

    	 

    

 

	 	of the credit documentation and any amendment or waiver with respect thereto (including the reasonable fees, charges and disbursements of Cravath, Swaine & Moore LLP, as legal counsel to the Arranger and Administrative Agent and, if reasonably necessary, one local counsel in each relevant jurisdiction for the Arranger and Administrative Agent) and (b) all out of-pocket expenses of the Administrative Agent and the Lenders (including the fees, charges and disbursements of a single legal counsel selected by the Arranger and Administrative Agent and, if reasonably necessary, one local counsel in each relevant jurisdiction and, in the event of any actual or potential conflict of interest, one additional counsel and one additional local counsel in each relevant jurisdiction for the person or persons affected by such conflict) in connection with the enforcement of the credit documentation.
	 	 
	 	The Borrower will indemnify the Administrative Agent, the Arranger, the other Lenders and their affiliates, and each of the respective officers, directors, employees, advisors, agents and controlling persons of the foregoing, and hold them harmless from and against all costs, expenses (including reasonable fees, disbursements and other charges of counsel) and liabilities arising in connection with the Facility and the transactions contemplated hereby (including the Acquisition), except, in the case of any indemnitee, to the extent such costs, expenses and liabilities are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or wilful misconduct of such indemnitee.
	 	 
	Governing Law and Jurisdiction:	New York.
	 	 
	Counsel to Arranger and

 Administrative Agent:	Cravath, Swaine & Moore LLP.

 

    	6

    	 

    

 

ANNEX I

 

	Ticking Fee:	A ticking fee will accrue and be payable to the Lenders on their unfunded commitments under the Facility, commencing on the 60th day following the date on which the Commitment Letter to which this Exhibit A is attached is executed and delivered and payable in arrears at the end of each calendar quarter and upon any termination of the commitments.  On and following the first date (the “Ratings Date”) on which each of Moody’s and S&P shall have established ratings on a pro forma basis giving effect to the Acquisition for the Borrower’s senior, unsecured, non-credit-enhanced, long-term debt (the “Ratings”), the ticking fee will be determined based upon the Ratings, as set forth in the table appearing at the end of this Annex I.  At all times prior to the Ratings Date, the ticking fee shall be 0.125% per annum.  Ticking fees will be calculated on the basis of a 360-day year and actual days elapsed.
	 	 
	Duration Fees:	The Borrower will pay to each Lender on each of the dates set forth below a Duration Fee equal to the applicable percentage set forth below of the aggregate principal amount of such Lender’s loans under the Facility outstanding on such date:

 

	Date	 	Duration Fee Percentage	 
	 	 	 	 
	90 days after the Closing Date	 	 	0.50	%
	 	 	 	 	 
	180 days after the Closing Date	 	 	0.75	%
	 	 	 	 	 
	270 days after the Closing Date	 	 	1.00	%

 

	Interest Rates:	
        Interest will be payable on loans under
        the Facility at the following rates per annum:

         

        (a)     in
        the case of Eurodollar loans, Adjusted LIBOR plus, prior to the Ratings Date, 1.125% per annum, and on and following the Ratings
        Date, spreads determined based upon the Ratings, as set forth in the table appearing at the end of this Annex I, and

         

        (b)     in
        the case of ABR loans, the ABR plus, prior to the Ratings Date, 0.125% per annum, and on and following the ratings Date, spreads
        determined based upon the Ratings, as set forth in the table appearing at the end of this Annex I.

	 	 
	 	As used herein:
	 	 
	 	“Adjusted LIBOR” means the London interbank offered rate (determined by reference to the Reuters screen) (but in any event not

 

    	 

    	 

    

 

	 	less than zero), adjusted at all times for statutory reserves.
	 	 
	 	 “ABR” means the highest of (i) JPMCB’s Prime Rate, (ii) the Federal Funds Effective Rate (but in any event not less than zero) plus 1⁄2 of 1.00% and (iii) the Adjusted LIBOR for a one-month interest period plus 1.00%.
	 	 
	Eurodollar Interest Periods:	At the Borrower’s option, 1, 2 or 3 months.  Interest on Eurodollar loans will be payable on the last day of each Interest Period and upon repayment or prepayment.
	 	 
	Interest Rate Basis:	Interest on Eurodollar loans will be payable in arrears on the basis of a 360-day year (calculated on the basis of the actual number of days elapsed).  Interest on ABR loans will be payable quarterly in arrears on the basis of a 365/366-day year when ABR is based on JPMCB’s Prime Rate and otherwise on a 360-day year (in each case calculated on the basis of the actual number of days elapsed).
	 	 
	Default Rate:	With respect to overdue principal, the applicable interest rate plus 2.00% per annum and, with respect to any other overdue amount, the interest rate applicable to ABR loans under the Facility plus 2.00% per annum.

 

    	2

    	 

    

 

Pricing Table:
 2

 

	 	 	Ratings
 (Moody’s/S&P)	 	Eurodollar Spread	 	 	ABR Spread	 	 	Ticking Fee	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Level 1	 	A+/A1 or above	 	 	0.750	%	 	 	0.000	%	 	 	0.060	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Level 2	 	A/A2	 	 	0.875	%	 	 	0.000	%	 	 	0.070	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Level 3	 	A-/A3	 	 	1.000	%	 	 	0.000	%	 	 	0.100	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Level 4	 	BBB+/Baa1	 	 	1.125	%	 	 	0.125	%	 	 	0.125	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Level 5	 	BBB/Baa2	 	 	1.250	%	 	 	0.250	%	 	 	0.150	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Level 6	 	Lower than BBB/Baa2	 	 	1.500	%	 	 	0.500	%	 	 	0.200	%

  

 

2
If only one rating agency shall have in effect a Rating, the Eurodollar Spreads, ABR Spreads and Ticking Fee will be based upon
such Rating. If neither rating agency shall have in effect a Rating, the Eurodollar Spreads, ABR Spreads and Ticking Fee will be
based upon the Level 6. In the event of split Ratings, the Eurodollar Spreads, ABR Spreads and Ticking Fee will be based upon the
higher Rating, unless the Ratings differ by two or more Levels, in which case the Eurodollar Spreads and ABR Spreads will be based
upon the Level one level above that corresponding to the lower Rating.

 

Each of the interest
rate spreads set forth in the table will increase by 25 basis points on the 90th day after the Closing Date, by an additional 25
basis points on the 180th day after the Closing Date and by an additional 25 basis points on the 270th day after the Closing Date.

 

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EXHIBIT B

 

Project Strix

$5,000,000,000 Bridge Loan Facility

Summary of Additional Conditions Precedent3 

 

The borrowing under
the Senior Facilities shall be subject to the following conditions precedent:

 

		1.	The terms of the Acquisition Agreement shall be satisfactory to the Arranger (it being acknowledged
that the Arranger is satisfied with the version of the Agreement and Plan of Merger by and Among Celgene Corporation, Strix Corporation
and Receptos, Inc., executed by the parties on the date hereof (the “Execution Version”). The Arranger shall
have received a copy of the definitive Acquisition Agreement (together with all the exhibits, schedules and other documents relating
thereto) executed by the parties thereto and certified by the Borrower as complete and correct. The Offer and the Merger shall
have been consummated, or substantially concurrently with the funding under the Facility shall be consummated, pursuant to and
on the terms set forth in the Execution Version, all approvals required for the Acquisition shall have been received and all conditions
precedent to the consummation of the Offer and the Merger shall have been satisfied, in each case without giving effect to amendments,
waivers, consents or other modifications after the date hereof that are materially adverse to the Arranger or the Lenders without
the consent of the Arranger, such consent not to be unreasonably withheld, delayed or conditioned (it being agreed that (a) any
decrease in the Offer Price in excess of 10% in the aggregate shall be deemed to be materially adverse to the interests of the
Arranger and the Lenders, (b) any decrease in the Offer Price of less than 10% in the aggregate shall be deemed to be materially
adverse to the interests of the Arranger and the Lenders unless such decrease in the Offer Price shall reduce dollar-for-dollar
the commitments in respect of the Bridge Facility and (c) any waiver or modification of the Minimum Condition (as defined in the
Execution Version) shall be deemed to be materially adverse to the Arranger and the Lenders).

 

		2.	The Lenders shall have received (a) U.S. GAAP audited consolidated balance sheets and related statements
of income, stockholders’ equity and cash flows of each of the Company and the Acquired Company for the three most recently
completed fiscal years ended at least 90 days prior to the Closing Date and (b) U.S. GAAP unaudited consolidated balance sheets
and related statements of income, stockholders’ equity and cash flows of each of the Company and the Acquired Company for
each subsequent fiscal quarter ended at least 45 days before the Closing Date (and comparable periods for the prior fiscal year);
provided that filing of the required financial statements on Form 10-K and Form 10-Q by the Company or the Acquired Company
will satisfy the foregoing requirements.

 

		3.	The Lenders shall have received a pro forma consolidated balance sheet and related pro forma consolidated
statement of income of the Company and its subsidiaries as of and for the 12-month period ending on the last day of the most recently
completed four-fiscal quarter period for which financial statements have been delivered pursuant to paragraph 2 above, prepared
after giving effect to the Transactions as if the Transactions had occurred

 

 

3
Capitalized terms used but not otherwise defined herein have the meanings assigned thereto in the Commitment Letter to which this
Exhibit B is attached, including the other exhibits thereto.

 

    	 

    	 

    

 

			as of such date (in the case of such balance sheet) or at the beginning of such period (in the
case of such statement of income) on a pro forma basis in accordance with Regulation S-X under the Securities Act of 1933,
as amended, together with such other adjustments as are reasonably satisfactory to the Arranger.

 

		4.	The Acquisition Agreement Representations and the Specified Representations shall be true and correct
in all material respects (or in all respects in the case of representations and warranties qualified as to materiality) at the
time of and after giving effect to the Acquisition and the borrowings under the Facility, and there shall exist no default or event
of default at the time of, or after giving effect to, such borrowing (subject, in the case of any default or event of default relating
to the accuracy of representations and warranties, to the Limited Conditions Provision).

 

		5.	No default or event of default shall exist under the Existing Company Credit Agreement (as the
same shall have been amended) and the Company shall be in compliance with each of its financial covenants under the Existing Company
Credit Agreement (as so amended) for the fiscal period for which financial statements shall as of the Closing Date have most recently
been delivered, in each case after giving pro forma effect to the Acquisition and the other Transactions to occur on the Closing
Date, including the borrowings under the Facility.

 

		6.	All fees due to the Administrative Agents, the Arranger and the Lenders pursuant to the Fee Letter
and, to the extent invoiced at least two business days prior to the Closing Date, all reasonable and documented expenses to be
paid or reimbursed to the Administrative Agent and the Arranger on or prior to the Closing Date pursuant to the Commitment Letter,
shall have been paid, in each case from the proceeds of the initial funding under the Facility. The Borrower shall have complied
with all of its obligations under the “Market Flex” provisions in the Fee Letter.

 

		7.	One or more investment banks (collectively, the “Investment Banks”) reasonably
satisfactory to the Arranger shall have been engaged to publicly sell or privately place the New Notes and the New Equity. At least
10 consecutive business days prior to the Closing Date (which 10 consecutive business-day period (i) shall exclude any day from
and including August 21, 2015, through and including September 8, 2015, any day from and including November 25, 2015, through and
including November 30, 2015, and any day from and including December 18, 2015, through and including January 4, 2016, the Company
shall have (A) provided to the Investment Banks one or more preliminary offering memoranda or preliminary private placement memoranda
relating to the offering of the New Notes in a form customary for private offerings of similar debt securities pursuant to Rule
144A (with registration rights) or, at the election of the Company, one or more preliminary prospectuses or preliminary prospectus
supplements pursuant to an effective and available registration statement on Form S-1 or Form S-3 under the Securities Act of 1933,
as amended (the “Securities Act”), relating to the offering of the New Notes in a form customary for public
offerings of similar debt securities registered pursuant to the Securities Act (including, in either case, all financial statements
and other information (including all audited financial statements, all unaudited financial statements (with respect to which the
Company’s and the Acquired Company’s independent accountants shall have performed a SAS 100 review, as applicable)
and all appropriate pro forma financial statements) that would enable the Investment Banks, among other things, to obtain customary
comfort letters from the Company’s and the Acquired Company’s independent registered public accounting firms) that
would be of the type that

 

    	2

    	 

    

 

			would be customary in a private offering of similar debt securities pursuant to Rule 144A (with
registration rights), or public offerings of similar debt securities registered pursuant to the Securities Act, as applicable (which,
in the case of a private offering pursuant to Rule 144A, for the avoidance of doubt, need not include financial statements or information
required by Rules 3-09, 3-10 or 3-16 of Regulation S-X, Compensation Discussion and Analysis required by Regulation S-K Item 402(b),
other information or financial data customarily excluded from a Rule 144A (with registration rights) offering memorandum), and
any applicable supplements to such offering documents, and at no time during such 10 consecutive business-day period shall the
financial information in such Debt Offering Document have become stale (the “Debt Offering Document”), (B) provided
to the Investment Banks drafts of customary comfort letters (including customary negative assurance comfort) by the independent
registered public accounting firm of the Company and, consistent with its obligations under the Acquisition Agreement, the Acquired
Company with respect to the financial information in the Debt Offering Document, which such accountants are prepared to issue upon
completion of customary procedures, each in form and substance customary for private offerings of similar debt securities pursuant
to Rule 144A (with registration rights), or public offerings of similar debt securities registered pursuant to the Securities Act,
as applicable, and (C) caused the senior management and other representatives of the Company and, in a manner consistent with
the Acquisition Agreement, the Acquired Company, to provide access in connection with due diligence investigations.

 

		8.	The Arranger shall have received the following customary closing documents: (a) a borrowing notice;
(b) customary legal opinions, certified organizational documents, customary evidence of authority, good standing certificates from
the jurisdictions of organization of the Company and customary secretary’s and officer’s certificates; and (c) at
least five days prior to the Closing Date, all documentation and other information required by bank regulatory authorities under
applicable “know-your-customer” and anti-money laundering rules and regulations, including, without limitation, the
Patriot Act.

 

    	3EX-10.1

 Exhibit 10.1 

TAX MATTERS AGREEMENT 
 by and
among 
 Danaher Corporation, 

Potomac Holding LLC 
 and 

NetScout Systems, Inc. 
 Dated as
of July 14, 2015 

 TAX MATTERS AGREEMENT 

THIS TAX MATTERS AGREEMENT (this “Agreement”), dated as of July 14, 2015, is by and among Danaher Corporation, a
Delaware corporation (“Danaher”), Potomac Holding LLC, a Delaware limited liability company (“Newco”), and NetScout Systems, Inc., a Delaware corporation (“NetScout”). Each of Danaher, Newco and
NetScout is sometimes referred to herein as a “Party” and, collectively, as the “Parties.” 
 WHEREAS,
Danaher is engaged, directly and indirectly, in the Communications Business; 
 WHEREAS, the Board of Directors of Danaher has determined
that it is advisable and in the best interests of Danaher and Danaher’s shareholders to separate the Communications Business from the other businesses of Danaher and to divest the Communications Business in the manner contemplated by the
Distribution Agreement and the Merger Agreement; 
 WHEREAS, Danaher and Newco have entered into the Distribution Agreement pursuant to
which (a) (i) Danaher will, and will cause its Subsidiaries to, transfer certain assets, liabilities and subsidiaries of the Communications Business to Newco and its Subsidiaries, and (ii) Newco will, and/or will cause one or more of its
Subsidiaries to, transfer certain assets, liabilities, subsidiaries and/or businesses to Danaher and its Subsidiaries, as a result of which Newco will own, directly and indirectly through its Subsidiaries, the Communications Business and will not
own, directly or indirectly through its Subsidiaries, any of the Danaher Business (collectively, the “Restructuring”), and (b) Danaher will distribute the interests in Newco to its shareholders (the
“Distribution”) as described therein; 
 WHEREAS, the Parties intend that, for U.S. federal income Tax purposes, certain
steps of the Restructuring and the Distribution shall qualify as tax-free transactions within the meaning of Section 355(a) and/or Section 368(a)(1)(D) of the Code; 

WHEREAS, Danaher has requested the IRS Ruling from the IRS; 

WHEREAS, the Parties contemplate that, pursuant to the Merger Agreement, immediately after the Distribution and at the Effective Time, RS
Merger Sub I, Inc. shall be merged (the “Merger”) with and into Newco, with Newco surviving the Merger as a wholly owned subsidiary of NetScout, and the Newco Common Units shall be converted into the right to receive shares of
common stock of NetScout on the terms and subject to the conditions of the Merger Agreement and in accordance with the Delaware General Corporation Law and the Delaware Limited Liability Company Act; 

WHEREAS, immediately following the Merger, Newco will merge with and into RS Merger Sub II, LLC, a Delaware limited liability company and a
direct wholly owned subsidiary of NetScout (“Merger Sub II”) with Merger Sub II surviving the merger (such merger, the “LLC Merger”) in the manner contemplated by the Merger Agreement; and 

WHEREAS, the Parties wish to (a) provide for the payment of Tax liabilities and entitlement to refunds thereof, allocate responsibility
for, and cooperation in, the filing of Tax Returns, and provide for certain other matters relating to Taxes and (b) set forth certain covenants and indemnities relating to the preservation of the tax-free status of certain steps of the
Restructuring and the Distribution. 

 NOW, THEREFORE, in consideration of the foregoing and the representations, warranties, covenants
and agreements contained herein, and intending to be legally bound hereby, the Parties agree as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.01 General. As used in this Agreement, the following terms shall have the following meanings: 

“Accounting Firm” has the meaning set forth in Section 8.01. 

“Adjustment” means an adjustment of any item of income, gain, loss, deduction, credit or any other item affecting Taxes of a
taxpayer pursuant to a Final Determination. 
 “Agreement” has the meaning set forth in the preamble to this Agreement.

 “Ancillary Agreement” has the meaning set forth in the Distribution Agreement. 

“Benefited Party” has the meaning set forth in Section 4.01(b). 

“Carryback” has the meaning set forth in Section 4.02(b). 

“Closing Date” has the meaning set forth in the Merger Agreement. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Common Parent” means the “common parent corporation” of an “affiliated group” (in each case, within the
meaning of Section 1504 of the Code) filing a U.S. federal consolidated Income Tax Return. 
 “Communications
Business” has the meaning set forth for in the Distribution Agreement. 
 “Confidentiality Agreement” has the
meaning set forth in the Merger Agreement. 
 “Counsel” means Skadden, Arps, Slate, Meagher & Flom LLP. 

“Danaher” has the meaning set forth in the preamble to this Agreement. 

“Danaher Business” means any businesses currently or formerly conducted by any member of the Danaher Group, other than the
Communications Business. 
 “Danaher Consolidated Return” means the U.S. federal Income Tax Return required to be filed by
Danaher as the Common Parent. 

  
 -2- 

 “Danaher Consolidated Taxes” means any U.S. federal Income Taxes attributable to
any Danaher Consolidated Return. 
 “Danaher Disqualifying Action” means (a) any action (or the failure to take any
action) within its control by Danaher or any Danaher Entity (including entering into any agreement, understanding or arrangement or any negotiations with respect to any transaction or series of transactions) that, (b) any event (or series of
events) involving the capital stock of Danaher, any assets of Danaher or any assets of any Danaher Entity that, or (c) any breach by Danaher or any Danaher Entity of any representation, warranty or covenant made by them in this Agreement that,
in each case, would affect the Tax-Free Status of the Transactions; provided, however, the term “Danaher Disqualifying Action” shall not include any action described in or contemplated by the Distribution Agreement,
the Merger Agreement or any Ancillary Agreement or that is undertaken pursuant to the Restructuring or the Distribution. 
 “Danaher
Entity” means any Subsidiary of Danaher immediately after the Effective Time. 
 “Danaher Group” means,
individually or collectively, as the case may be, Danaher and any Danaher Entity. 
 “Danaher Taxes” means, without
duplication, (a) any Danaher Consolidated Taxes, (b) any (i) gain recognized under Treasury Regulations Section 1.1502-19(b) in connection with an excess loss account with respect to the stock of Newco or any member of the Newco
Group at the time of the Distribution, (ii) net deferred gains taken into account under Treasury Regulations Section 1.1502-13(d) associated with deferred intercompany transactions between a Newco
Group member and a Danaher Group member, and (iii) gains described in clause (i) or (ii) that are imposed under similar state, local or non-U.S. Law, (c) any Taxes imposed on Newco or any member of the Newco Group under Treasury
Regulations Section 1.1502-6 (or any similar provision of other Law) as a result of Newco or any such member being or having been included as part of a Danaher Consolidated Return (or similar consolidated or combined Tax Return under any other
provision of Law), (d) any Taxes not described in clause (a), (b) or (c) (including any Taxes resulting from an Adjustment) of Danaher or any Subsidiary or former Subsidiary of Danaher for any
Pre-Closing Period and, with respect to a Straddle Period, the portion of such period ending at the end of the day on the Closing Date (determined in accordance with Section 2.05), (e) any Taxes
attributable to a Danaher Disqualifying Action, (f) any Transaction Taxes, and (g) any Transfer Taxes, in each case other than Newco Taxes. 

“Disqualifying Action” means a Danaher Disqualifying Action or a Newco Disqualifying Action. 

“Distribution” has the meaning set forth in the recitals to this Agreement. 

“Distribution Agreement” means the Separation and Distribution Agreement by and between Danaher and Newco dated as of
October 12, 2014. 
 “Due Date” means (a) with respect to a Tax Return, the date (taking into account all valid
extensions) on which such Tax Return is required to be filed under applicable Law and (b) with respect to a payment of Taxes, the date on which such payment is required to be made to avoid the incurrence of interest, penalties and/or additions
to Tax. 

  
 -3- 

 “Effective Time” has the meaning set forth in the Merger Agreement. 

“Employee Matters Agreement” means the Employee Matters Agreement by and between the Parties dated as of July 14, 2015.

 “Extraordinary Transaction” means any action that is not in the Ordinary Course of Business, but shall not include any
action described in or contemplated by the Distribution Agreement, the Merger Agreement or any Ancillary Agreement (including, without limitation, the LLC Merger) or that is undertaken pursuant to the Restructuring or the Distribution. 

“Fifty-Percent or Greater Interest” has the meaning ascribed to such term for purposes of Sections 355(d) and (e) of the
Code. 
 “Final Determination” means the final resolution of liability for any Tax for any taxable period, by or as a
result of (a) a final decision, judgment, decree or other order by any court of competent jurisdiction that can no longer be appealed, (b) a final settlement with the IRS, a closing agreement or accepted offer in compromise under Sections
7121 or 7122 of the Code, or a comparable agreement under the Laws of other jurisdictions, which resolves the entire Tax liability for any taxable period, (c) any allowance of a refund or credit in respect of an overpayment of Tax, but only
after the expiration of all periods during which such refund or credit may be recovered by the jurisdiction imposing the Tax, or (d) any other final resolution, including by reason of the expiration of the applicable statute of limitations or
the execution of a pre-filing agreement with the IRS or other Taxing Authority. 
 “Income Tax Return” means any Tax Return
on which Income Taxes are reflected or reported. 
 “Income Taxes” means any Taxes based upon, measured by, or calculated
with respect to: (a) net income or profits or net receipts (including, but not limited to, any capital gains, minimum Tax or any Tax on items of Tax preference, but not including sales, use, real or personal property, or transfer or similar
Taxes) or (b) multiple bases (including corporate franchise, doing business and occupation Taxes) if one or more bases upon which such Tax may be based, measured by, or calculated with respect to, is described in clause (a). 

“Indemnified Party” means the Party which is entitled to seek indemnification from the other Party pursuant to the provisions
of Article III. 
 “Indemnifying Party” means the Party from which the other Party is entitled to seek indemnification
pursuant to the provisions of Article III. 
 “Information” has the meaning set forth in Section 7.01(a). 

“Information Request” has the meaning set forth in Section 7.01(a). 

“IRS” means the U.S. Internal Revenue Service. 

  
 -4- 

 “IRS Ruling” means the U.S. federal income Tax ruling, and any supplements
thereto, issued to Danaher by the IRS in connection with the Restructuring and the Distribution. 
 “IRS Ruling Request”
means any letter filed by Danaher with the IRS requesting a ruling regarding certain tax consequences of the Transactions and any amendment or supplement to such ruling request letter. 

“LLC Merger” has the meaning set forth in the recitals to this Agreement. 

“Law” means any U.S. or non-U.S. federal, national, supranational, state, provincial, local or similar statute, law,
ordinance, regulation, rule, code, administrative pronouncement, order, requirement or rule of law (including common law). 

“Merger” has the meaning set forth in the recitals to this Agreement. 

“Merger Agreement” has the meaning set forth in the Distribution Agreement. 

“Merger Sub II” has the meaning set forth in the recitals to this Agreement. 

“Mixed Business Income Tax Return” means any Income Tax Return (other than a Danaher Consolidated Return), including any
consolidated, combined or unitary Income Tax Return, that reflects or reports Income Taxes that relate to at least one asset or activity that is part of the Danaher Business, on the one hand, and at least one asset or activity that is part of the
Communications Business, on the other hand. 
 “Mixed Business Non-Income Tax Return” means any Non-Income Tax Return that
reflects or reports Non-Income Taxes that relate to at least one asset or activity that is part of the Danaher Business, on the one hand, and at least one asset or activity that is part of the Communications Business, on the other hand. 

“Mixed Business Non-Income Taxes” means any U.S. federal, state or local, or foreign Non-Income Taxes attributable to any
Mixed Business Non-Income Tax Return. 
 “Mixed Business Non-U.S. Income Tax Return” means any Mixed Business Income Tax
Return on which Mixed Business Non-U.S. Income Taxes are reflected or reported. 
 “Mixed Business Non-U.S. Income Taxes”
means any foreign Income Taxes attributable to any Mixed Business Income Tax Return. 
 “Mixed Business U.S. Income Tax
Return” means any Mixed Business Income Tax Return on which Mixed Business U.S. Income Taxes are reflected or reported. 

“Mixed Business U.S. Income Taxes” means any U.S. federal, state or local Income Taxes attributable to any Mixed Business
Income Tax Return. 
 “NetScout” has the meaning set forth in the preamble to this Agreement. 

“Newco” has the meaning set forth in the preamble to this Agreement. 

  
 -5- 

 “Newco capital stock” means the equity interests in Newco, treated as stock for
U.S. federal income tax purposes. 
 “Newco Disqualifying Action” means (a) any action (or the failure to take any
action) within its control by Newco or any Newco Entity (including entering into any agreement, understanding or arrangement or any negotiations with respect to any transaction or series of transactions) that, (b) any event (or series of
events) involving the capital stock of Newco, any assets of Newco or any assets of any Newco Entity that, or (c) any breach by Newco or any Newco Entity of any representation, warranty or covenant made by them in this Agreement that, in each
case, would affect the Tax-Free Status of the Transactions; provided, however, that the term “Newco Disqualifying Action” shall not include any action (including, without limitation, the LLC Merger) described in or
contemplated by the Distribution Agreement, the Merger Agreement or any Ancillary Agreement or that is undertaken pursuant to the Restructuring or the Distribution. 

“Newco Employee” has the meaning set forth in Section 4.04(b). 

“Newco Entity” means any Subsidiary of Newco immediately after the Effective Time. 

“Newco Excluded Taxes” means (a) any Transaction Taxes and (b) Taxes caused by a Danaher Disqualifying Action, in
each case except to the extent attributable to a Newco Disqualifying Action. 
 “Newco Group” means, individually or
collectively, as the case may be, Newco and any Newco Entity. 
 “Newco Taxes” means, without duplication, (a) any
Taxes of Danaher or any Subsidiary or former Subsidiary of Danaher for any Post-Closing Period attributable to the Tax Items properly attributable to assets or activities of the Communications Business, as determined pursuant to Section 2.08,
and (b) any Taxes attributable to a Newco Disqualifying Action, in each case including any Taxes resulting from an Adjustment. For the avoidance of doubt, Newco Taxes shall not include any Newco Excluded Taxes. 

“Non-Income Tax Return” means any Tax Return relating to Taxes other than Income Taxes. 

“Non-Income Taxes” means any Taxes other than Income Taxes. 

“Notified Action” has the meaning set forth in Section 6.03(a). 

“Opinions” means the opinions of Counsel with respect to certain Tax aspects of the Transactions. 

“Ordinary Course of Business” means an action taken by a Person only if such action is taken in the ordinary course of the
normal operations of such Person. 
 “Party” and “Parties” have the meaning set forth in the preamble to
this Agreement. 

  
 -6- 

 “Past Practice” means past practices, accounting methods, elections and
conventions. 
 “Person” has the meaning set forth in the Distribution Agreement. 

“Post-Closing Period” means any taxable period (or portion thereof) beginning after the Closing Date, including for the
avoidance of doubt, the portion of any Straddle Period beginning after the Closing Date. 
 “Pre-Closing Period” means any
taxable period (or portion thereof) ending on or before the Closing Date, including for the avoidance of doubt, the portion of any Straddle Period ending at the end of the day on the Closing Date. 

“Preparing Party” has the meaning set forth in Section 2.04(a)(ii). 

“Proposed Acquisition Transaction” means a transaction or series of transactions (or any agreement,
understanding or arrangement, within the meaning of Section 355(e) of the Code and Treasury Regulation Section 1.355-7, or any other regulations promulgated thereunder, to enter into a transaction or series of transactions), whether such transaction
is supported by Newco management or shareholders, is a hostile acquisition, or otherwise, as a result of which one or more Persons would (directly or indirectly) acquire, or have the right to acquire, from Newco and/or one or more holders of
outstanding shares of Newco capital stock, as the case may be, a number of shares of Newco capital stock that would, when combined with any other direct or indirect changes in ownership of Newco capital stock pertinent for purposes of Section 355(e)
of the Code (including the Merger and the LLC Merger), comprise 50% or more of (a) the value of all outstanding shares of stock of Newco as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction
of such series, or (b) the total combined voting power of all outstanding shares of voting stock of Newco as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction of such series.
Notwithstanding the foregoing, a Proposed Acquisition Transaction shall not include (i) the adoption by Newco or NetScout of, or the issuance of stock pursuant to, a shareholder rights plan or (ii) issuances by Newco that satisfy Safe Harbor VIII
(relating to acquisitions in connection with a person’s performance of services) or Safe Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulation Section 1.355-7(d). For purposes of determining whether a
transaction constitutes an indirect acquisition, any recapitalization resulting in a shift of voting power or any redemption of shares of stock shall be treated as an indirect acquisition of shares of stock by the non-exchanging shareholders (except
to the extent provided otherwise in the IRS Ruling). This definition and the application thereof is intended to monitor compliance with Section 355(e) of the Code and shall be interpreted accordingly. Any clarification of, or change in, the statute
or regulations promulgated under Section 355(e) of the Code shall be incorporated in this definition and its interpretation. For the avoidance of doubt, neither the Merger nor the LLC Merger shall constitute a Proposed Acquisition Transaction. 

“Refund” means any refund (or credit in lieu thereof) of Taxes (including any overpayment of Taxes that can be refunded or,
alternatively, applied to other Taxes payable), including any interest paid on or with respect to such refund of Taxes; provided, however, that for purposes of this Agreement, the amount of any Refund required to be paid to another
Party shall be reduced by the net amount of any Income Taxes imposed on, related to, or attributable to, the receipt or accrual of such Refund. 

  
 -7- 

 “Restriction Period” has the meaning set forth in Section 6.02(b). 

“Restructuring” has the meaning set forth in the recitals to this Agreement. 

“Restructuring VAT” means any VAT arising pursuant to the Restructuring or otherwise arising prior to the Closing Date. 

“Reviewing Party” has the meaning set forth in Section 2.04(a)(ii). 

“Single Business Return” means any Tax Return including any consolidated, combined or unitary Tax Return, that reflects or
reports Tax Items relating only to the Danaher Business, on the one hand, or the Communications Business, on the other (but not both). 

“Single Business Return Preparing Party” has the meaning set forth in Section 2.04(b). 

“Single Business Return Reviewing Party” has the meaning set forth in Section 2.04(b). 

“Single Business Taxes” means any U.S. federal, state or local, or foreign Taxes attributable to any Single Business Return.

 “Straddle Period” means any taxable period that begins on or before and ends after the Closing Date. 

“Subsidiary” has the meaning set forth in the Distribution Agreement. 

“Tax” means (a) all taxes, charges, fees, duties, levies, imposts, or other similar assessments, imposed by any U.S.
federal, state or local or foreign governmental authority, including, but not limited to, net income, gross income, gross receipts, excise, real property, personal property, sales, use, service, service use, license, lease, capital stock, transfer,
recording, franchise, business organization, occupation, premium, environmental, windfall profits, profits, customs, duties, payroll, wage, withholding, social security, employment, unemployment, insurance, severance, workers compensation, excise,
stamp, alternative minimum, estimated, value added, ad valorem and other taxes, charges, fees, duties, levies, imposts, or other similar assessments, (b) any interest, penalties or additions attributable thereto and (c) all liabilities in
respect of any items described in clauses (a) or (b) payable by reason of assumption, transferee or successor liability, operation of Law or Treasury Regulation Section 1.1502-6(a) (or any predecessor or successor thereof or any
analogous or similar provision under Law). 
 “Tax Attributes” means net operating losses, capital losses, investment tax
credit carryovers, earnings and profits, foreign tax credit carryovers, overall foreign losses, previously taxed income, separate limitation losses and any other losses, deductions, credits or other comparable items that could affect a Tax liability
for a past or future taxable period. 
 “Tax Benefit” means any refund, credit, or other reduction in Tax payments
otherwise required to be made to a Taxing Authority. 

  
 -8- 

 “Tax Cost” means any increase in Tax payments otherwise required to be made to a
Taxing Authority (or any reduction in any refund otherwise receivable from any Taxing Authority). 
 “Tax-Free Status of the
Transactions” means the qualification of the Transactions for the intended tax treatment set forth in the Opinions and/or the IRS Ruling. 

“Tax Item” means any item of income, gain, loss, deduction, credit, recapture of credit or any other item which increases or
decreases Taxes paid or payable. 
 “Tax Materials” has the meaning set forth in Section 6.01(a). 

“Tax Matter” has the meaning set forth in Section 7.01(a). 

“Tax Package” means all relevant Tax-related information relating to the operations of the Danaher Business or the
Communications Business, as applicable, that is reasonably necessary to prepare and file the applicable Tax Return. 
 “Tax
Proceeding” means any audit, assessment of Taxes, pre-filing agreement, other examination by any Taxing Authority, proceeding, appeal of a proceeding or litigation relating to Taxes, whether administrative or judicial, including proceedings
relating to competent authority determinations. 
 “Tax Return” means any return, report, certificate, form or similar
statement or document (including any related or supporting information or schedule attached thereto and any information return, or declaration of estimated Tax) required to be supplied to, or filed with, a Taxing Authority in connection with the
payment, determination, assessment or collection of any Tax or the administration of any Laws relating to any Tax and any amended Tax return or claim for refund. 

“Taxing Authority” means any governmental authority or any subdivision, agency, commission or entity thereof or any
quasi-governmental or private body having jurisdiction over the assessment, determination, collection or imposition of any Tax (including the IRS). 

“Transaction Taxes” means (a) any Taxes imposed on or by reason of the Restructuring, other than any such Taxes caused
by a Newco Disqualifying Action, and (b) any Taxes payable by reason of the distribution of cash or any other property from Newco to Danaher. For the avoidance of doubt, Transaction Taxes include, without limitation, Taxes payable by reason of
the settlement of Intercompany Accounts as contemplated by Section 1.07 of the Distribution Agreement. 

“Transactions” means the Restructuring, the Distribution and the other transactions contemplated by the Distribution
Agreement, the Merger Agreement and the Ancillary Agreements. 
 “Transfer Taxes” means all sales, use, transfer, real
property transfer, intangible, recordation, registration, documentary, stamp or similar Taxes imposed on the Restructuring or the Distribution. 

  
 -9- 

 “Treasury Regulations” means the final and temporary (but not proposed) income
Tax regulations promulgated under the Code, as such regulations may be amended from time to time (including corresponding provisions of succeeding regulations). 

“Unqualified Tax Opinion” means a “will” opinion, without substantive qualifications, of a nationally recognized
law or accounting firm, which firm is reasonably acceptable to Danaher, to the effect that a transaction will not affect the Tax-Free Status of the Transactions. 

“U.S.” means the United States of America. 

“U.S. Income Taxes” means any Income Taxes imposed by or payable to the United States, any State or any political subdivision
of the United States or any State. 
 “VAT” means the value added tax provided for in European Union Directive 2006/112/EC
and charged under the provisions of any national legislation implementing that directive or European Union Directive 77/388/EEC together with legislation supplemental thereto and any similar tax in any other jurisdiction. 

Section 1.02 Additional Definitions. Capitalized terms not defined in this Agreement shall have the meaning ascribed to them in the
Distribution Agreement. 
 ARTICLE II 

PREPARATION, FILING AND PAYMENT OF TAXES SHOWN DUE ON TAX RETURNS 

Section 2.01 U.S. Income Tax Returns. 

(a) Danaher Consolidated Returns. Danaher shall prepare and file all Danaher Consolidated Returns for a Pre-Closing Period or a Straddle
Period, and shall pay all Taxes shown to be due and payable on such Tax Returns; provided that Newco shall reimburse Danaher for any such Taxes that are Newco Taxes. 

(b) Extraordinary Transactions. Notwithstanding anything to the contrary in this Agreement, for all Tax purposes, the Parties shall
report any Extraordinary Transactions that are caused or permitted by Newco or any Newco Entity on the Closing Date after the Effective Time as occurring on the day after the Closing Date pursuant to Treasury Regulation
Section 1.1502-76(b)(1)(ii)(B) or any similar or analogous provision of state, local or foreign Law. 
 (c) Mixed Business U.S.
Income Tax Returns. 
 (i) Danaher shall prepare and file (or cause a Danaher Entity to prepare and file) any Mixed
Business U.S. Income Tax Return for a Pre-Closing Period or a Straddle Period required to be filed by Danaher or a Danaher Entity and shall pay, or cause such Danaher Entity to pay, all Taxes shown to be due and payable on such Tax Return;
provided that Newco shall reimburse Danaher for any such Taxes that are Newco Taxes. 

  
 -10- 

 (ii) Newco shall prepare and file (or cause a Newco Entity to prepare and file)
any Mixed Business U.S. Income Tax Return for a Pre-Closing Period or a Straddle Period required to be filed by Newco or a Newco Entity after the Closing Date, if any, and shall pay, or cause such Newco Entity to pay, all Taxes shown to be due and
payable on such Tax Return; provided that Danaher shall reimburse Newco for any such Taxes that are Danaher Taxes. 
 (d) Single
Business U.S. Income Tax Returns. 
 (i) Danaher shall prepare and file (or cause a Danaher Entity to prepare and file)
any Single Business Return that relates to U.S. Income Taxes for a Pre-Closing Period or a Straddle Period required to be filed by Danaher or a Danaher Entity, if any, and shall pay, or cause such Danaher Entity to pay, all Taxes shown to be due and
payable on such Tax Return; provided that Newco shall reimburse Danaher for any such Taxes that are Newco Taxes. 

(ii) Newco shall prepare and file (or cause a Newco Entity to prepare and file) any Single Business Return that relates to U.S.
Income Taxes for a Pre-Closing Period or a Straddle Period required to be filed by Newco or a Newco Entity after the Closing Date, if any, and shall pay, or cause such Newco Entity to pay, all Taxes shown to be due and payable on such Tax Return;
provided that Danaher shall reimburse Newco for any such Taxes that are Danaher Taxes. 
 Section 2.02 Mixed Business
Non-U.S. Income Tax Returns and Mixed Business Non-Income Tax Returns. 
 (a) Danaher shall prepare and file (or cause a Danaher Entity
to prepare and file) any Mixed Business Non-U.S. Income Tax Return and any Mixed Business Non-Income Tax Return for a Pre-Closing Period or a Straddle Period required to be filed by Danaher or a Danaher Entity and shall pay, or cause such Danaher
Entity to pay, all Taxes shown to be due and payable on such Tax Return; provided that Newco shall reimburse Danaher for any such Taxes that are Newco Taxes. 

(b) Newco shall prepare and file (or cause a Newco Entity to prepare and file) any Mixed Business Non-U.S. Income Tax Return and any Mixed
Business Non-Income Tax Returns, in each case for a Pre-Closing Period or a Straddle Period required to be filed by Newco or a Newco Entity after the Closing Date, and Newco shall pay, or cause such Newco Entity to pay, all Taxes shown to be due and
payable on such Tax Return; provided that Danaher shall reimburse Newco for any such Taxes that are Danaher Taxes. 

Section 2.03 Single Business Returns. Except as set forth in Section 2.01(d), (a) Danaher shall prepare and file (or
cause a Danaher Entity to prepare and file) any Single Business Return for a Pre-Closing Period or a Straddle Period required to be filed by Danaher or a Danaher Entity and shall pay, or cause such Danaher Entity to pay, all Taxes shown to be due
and payable on such Tax Return; provided that Newco shall reimburse Danaher for any such Taxes that are Newco Taxes, and (b) Newco shall prepare and file (or cause a Newco Entity to prepare and file) any Single Business Return for a
Pre-Closing Period or a Straddle Period 

  
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required to be filed by Newco or a Newco Entity and shall pay, or cause such Newco Entity to pay, all Taxes shown to be due and payable on such Tax Return; provided that Danaher shall
reimburse Newco for any such Taxes that are Danaher Taxes. 
 Section 2.04 Tax Return Procedures. 

(a) Procedures relating to Tax Returns other than Single Business Returns. 

(i) Danaher Consolidated Returns. With respect to all Danaher Consolidated Returns for the taxable year which includes
the Closing Date, Danaher shall use the closing of the books method under Treasury Regulation Section 1.1502-76. Danaher shall inform Newco of (i) any changes to accounting methods relating to the Communications Business reflected on a
Danaher Consolidated Return, and (ii) any election filed under Treasury Regulations Section 301.7701-3 with respect to a Newco Entity. 

(ii) Mixed Business Tax Returns. To the extent that the positions taken on any Mixed Business U.S. Income Tax Return,
Mixed Business Non-U.S. Income Tax Return or Mixed Business Non-Income Tax Return would reasonably be expected to materially adversely affect the Tax position of the party other than the party that is required to prepare and file any such Tax Return
pursuant to Section 2.01 or 2.02 (the “Reviewing Party”) for any period after the Closing, the party required to prepare and file such Tax Return (the “Preparing Party”) shall prepare the portions of such Tax
Return that relates to the business of the Reviewing Party (the Communications Business or the Danaher Business, as the case may be) in a manner that is consistent with Past Practice unless otherwise required by applicable Law and shall provide a
draft of such portion of such Tax Return to the Reviewing Party for its review and comment at least thirty (30) days prior to the Due Date for such Tax Return, provided, however, that nothing herein shall prevent the Preparing Party from timely
filing any such Tax Return. In the event that Past Practice is not applicable to a particular item or matter, the Preparing Party shall determine the reporting of such item or matter in good faith. The Parties shall negotiate in good faith to
resolve all disputed issues. Any disputes that the Parties are unable to resolve shall be resolved by the Accounting Firm pursuant to Section 8.01. In the event that any dispute is not resolved (whether pursuant to good faith negotiations among
the Parties or by the Accounting Firm) prior to the Due Date for the filing of any such Tax Return, such Tax Return shall be timely filed by the Preparing Party and the Parties agree to amend such Tax Return as necessary to reflect the resolution of
such dispute in a manner consistent with such resolution. 
 (b) Procedures relating to Single Business Returns. The Party that is
required to prepare and file any Single Business Return pursuant to Section 2.01(d) or 2.03 (the “Single Business Return Preparing Party”) which reflects Taxes which are reimbursable by the other Party (the “Single
Business Return Reviewing Party”), in whole or in part, shall (x) unless otherwise required by Law or agreed to in writing by the Single Business Return Reviewing Party, prepare such Tax Return in a manner consistent with Past Practice
to the extent such items affect the Taxes for which the Single Business Return Reviewing Party is responsible pursuant to this Agreement, and (y) submit to the Single Business Return Reviewing Party a draft of any

  
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such Tax Return (or to the extent practicable the portion of such Tax Return that relates to Taxes for which the Single Business Return Reviewing Party is responsible pursuant to this Agreement)
along with a statement setting forth the calculation of the Tax shown due and payable on such Tax Return reimbursable by the Single Business Return Reviewing Party under Section 2.01(d) or 2.03 at least thirty (30) days prior to the Due
Date for such Tax Return provided, however, that nothing herein shall prevent the Single Business Return Preparing Party from timely filing any such Single Business Return. The Parties shall negotiate in good faith to resolve all disputed issues.
Any disputes that the Parties are unable to resolve shall be resolved by the Accounting Firm pursuant to Section 8.01. In the event that any dispute is not resolved (whether pursuant to good faith negotiations among the Parties or by the
Accounting Firm) prior to the Due Date for the filing of any Single Business Return, such Single Business Return shall be timely filed by the Single Business Return Preparing Party and the Parties agree to amend such Single Business Return as
necessary to reflect the resolution of such dispute in a manner consistent with such resolution. 
 (c) Notwithstanding anything to the
contrary in this Article II, (i) the portion of any Tax Return that relates to any Taxes attributable to a Danaher Disqualifying Action shall be prepared by Danaher in the manner determined by Danaher in its sole discretion (or, if such Tax
Return is required to be prepared by Newco, be prepared by Newco in the manner determined by Danaher in its sole discretion), and (ii) the portion of any Tax Return that relates to any Taxes attributable to a Newco Disqualifying Action shall be
prepared by Newco in the manner determined by Newco in its sole discretion (or, if such Tax Return is required to be prepared by Danaher, be prepared by Danaher in the manner determined by Newco in its sole discretion). For the avoidance of doubt,
the foregoing sentence shall apply only to the extent that the Parties shall be aware of the Danaher Disqualifying Action or the Newco Disqualifying Action at the time such Tax Return is prepared. 

Section 2.05 Straddle Period Tax Allocation. Danaher and Newco shall take all actions necessary or appropriate to close the
taxable year of Newco and each Newco Entity for all Tax purposes as of the close of the Closing Date to the extent permissible or required under applicable Law. If applicable Law does not require or permit Newco or a Newco Entity, as the case may
be, to close its taxable year on the Closing Date, then the allocation of income or deductions required to determine any Taxes or other amounts attributable to the portion of the Straddle Period ending on, or beginning after, the Closing Date shall
be made by means of a closing of the books and records of Newco or such Newco Entity as of the close of the Closing Date; provided that exemptions, allowances or deductions that are calculated on an annual or periodic basis shall be allocated
between such portions in proportion to the number of days in each such portion; provided, further, that real property and other property or similar periodic Taxes shall be apportioned on a per diem basis. 

Section 2.06 Timing of Payments. All Taxes required to be paid or caused to be paid pursuant to this Article II by either Danaher
or a Danaher Entity or Newco or a Newco Entity, as the case may be, to an applicable Taxing Authority or reimbursed by Danaher or Newco to the other Party pursuant to this Agreement, shall, in the case of a payment to a Taxing Authority, be paid on
or before the Due Date for the payment of such Taxes and, in the case of a reimbursement to the other Party, be paid at least two (2) business days before the Due Date for the payment of such Taxes by the other Party. 

  
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 Section 2.07 Expenses. Except as provided in Section 8.01 in respect of the
Accounting Firm, each Party shall bear its own expenses incurred in connection with this Article II. 
 Section 2.08 Apportionment
of Newco Taxes. For all purposes of this Agreement, but subject to Section 4.03, Danaher shall determine in good faith which Tax Items are properly attributable to assets or activities of the Communications Business (and in the case of a
Tax Item that is properly attributable to both the Communications Business and the Danaher Business, the allocation of such Tax Item between the Communications Business and the Danaher Business). To the extent that Newo may in good faith disagree
with any such apportionment, any disputes shall be resolved by the Accounting Firm in accordance with Section 8.01. 
 ARTICLE III

 INDEMNIFICATION 

Section 3.01 Indemnification by Danaher. Danaher shall pay, and shall indemnify and hold Newco harmless from and against, without
duplication, (a) all Danaher Taxes, (b) all Taxes incurred by Newco or any Newco Entity by reason of the breach by Danaher of any of its representations, warranties or covenants hereunder, and (c) any costs and expenses related to the
foregoing (including reasonable attorneys’ fees and expenses). 
 Section 3.02 Indemnification by Newco. Newco shall pay,
and shall indemnify and hold Danaher harmless from and against, without duplication, (a) all Newco Taxes, (b) all Taxes incurred by Danaher or any Danaher Entity by reason of the breach by Newco of any of its representations, warranties or
covenants hereunder, and (c) any costs and expenses related to the foregoing (including reasonable attorneys’ fees and expenses). 

Section 3.03 Characterization of and Adjustments to Payments. 

(a) For all Tax purposes, Danaher and Newco agree to treat any payment required by this Agreement (other than payments with respect to interest
accruing after the Closing Date) as either a contribution by Danaher to Newco or a distribution by Newco to Danaher, as the case may be, occurring immediately prior to the Closing Date. 

(b) Notwithstanding the foregoing, any payment made pursuant to Article III of this Agreement shall be (i) decreased to take into account
the present value of any Tax Benefit made allowable to the Indemnified Party (or any of its affiliates) arising from the incurrence or payment of the relevant indemnified item (which Tax Benefit would not have arisen or been allowable but for such
indemnified item), and (ii) increased to take into account any Tax Cost of the Indemnified Party (or any of its affiliates) arising from the receipt of the relevant indemnity payment (but taking into account the present value of all correlative
Tax Benefits resulting from the payment of such Tax Cost). For purposes of this Section 3.03(b), any Tax Benefit or Tax Cost, as applicable, shall be determined (i) using the highest marginal rates in effect at the time of the
determination, (ii) assuming the Indemnified Party will be liable for such Taxes at such rate and has no Tax Attributes at the time of the determination, and (iii) assuming that any such Tax Benefit is used at the earliest date allowable
by applicable Law. The present value referred 

  
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to in the first sentence of this Section 3.03(b) shall be determined using a discount rate equal to the mid term applicable federal rate in effect at the time of the payment of the relevant
indemnity payment. 
 Section 3.04 Timing of Indemnification Payments. Indemnification payments in respect of any liabilities
for which an Indemnified Party is entitled to indemnification pursuant to this Article III shall be paid by the Indemnifying Party to the Indemnified Party within ten (10) days after written notification thereof by the Indemnified Party,
including reasonably satisfactory documentation setting forth the basis for, and calculation of, the amount of such indemnification payment. 

ARTICLE IV 
 REFUNDS,
CARRYBACKS, TIMING DIFFERENCE AND TAX ATTRIBUTES 
 Section 4.01 Refunds and Credits. 

(a) Except as provided in Section 4.02, Danaher shall be entitled to all Refunds of Taxes for which Danaher is responsible pursuant to
Article III, and Newco shall be entitled to all Refunds of Taxes for which Newco is responsible pursuant to Article III. For the avoidance of doubt, to the extent that a particular Refund of Taxes may be allocable to a Straddle Period with
respect to which the Parties may share responsibility pursuant to Article III, the portion of such Refund to which each Party will be entitled shall be determined by comparing the amount of payments made by a Party to a Taxing Authority or to the
other Party (and reduced by the amount of payments received from the other Party) pursuant to Articles II and III hereof with the Tax liability of such Party as determined under Section 2.08, taking into account the facts as utilized for
purposes of claiming such Refund. A Party receiving a Refund to which the other Party is entitled pursuant to this Agreement shall pay the amount to which such other Party is entitled within ten (10) days after the receipt of the Refund. 

(b) In the event of an Adjustment relating to Taxes for which one Party is responsible pursuant to Article III which would have given rise to
a Refund but for an offset against the Taxes for which the other Party is or may be responsible pursuant to Article III (the “Benefited Party”), then the Benefited Party shall pay to the other Party, within ten (10) days of the
Final Determination of such Adjustment an amount equal to the amount of such reduction in the Taxes of the Benefited Party plus interest at the rate set forth in Section 6621(a)(1) on such amount for the period from the filing date of the
Tax Return that would have given rise to such Refund to the payment date. 
 (c) Notwithstanding Section 4.01(a), to the extent that a
Party applies or causes to be applied an overpayment of Taxes as a credit toward or a reduction in Taxes otherwise payable (or a Taxing Authority requires such application in lieu of a Refund) and such overpayment of Taxes, if received as a Refund,
would have been payable by such Party to the other Party pursuant to this Section 4.01, such Party shall pay such amount to the other Party no later than the Due Date of the Tax Return for which such overpayment is applied to reduce Taxes
otherwise payable. 

  
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 (d) If Newco or any of its Subsidiaries receives a Refund attributable to Restructuring VAT, or
otherwise utilizes the benefits of a payment of Restructuring VAT (including by way of credit), Newco shall pay, or cause to be paid, to Danaher, within ten (10) days of the receipt of any such Refund or the filing of the Tax Return utilizing
any such benefit the amount of such Restructuring VAT to the extent of such Refund, credit or other benefit. For purposes of determining whether Newco or any of its Subsidiaries have received such a Refund, credit or otherwise utilized the benefits
of a payment of Restructuring VAT, any refund, credit or other benefit received by Newco or its Subsidiaries shall be considered to be attributable to Restructuring VAT prior to any refund, credit or other benefit being considered to be attributable
to other payments of VAT. Newco agrees to claim any refund, offset, credit or other allowance attributable to Restructuring VAT as soon as reasonably possible and to furnish to Danaher at Danaher’s request all information, records and
assistance reasonably necessary to verify the amount of any such refund, offset, credit or other allowance. 
 (e) To the extent that the
amount of any Refund under this Section 4.01 is later reduced by a Taxing Authority or in a Tax Proceeding, such reduction shall be allocated to the Party to which such Refund was allocated pursuant to this Section 4.01 and an appropriate
adjusting payment shall be made. 
 (f) Notwithstanding anything to the contrary in this Agreement, neither Danaher nor Newco shall be
required to pay or cause to be paid any Refund to the other Party pursuant to this Section 4.01 if the amount of such Refund is less than $50,000. 

Section 4.02 Carrybacks. 

(a) The carryback of any loss, credit or other Tax Attribute from any Post-Closing Period shall be in accordance with the provisions of the
Code and Treasury Regulations (and any applicable state, local or foreign Laws). 
 (b) Except to the extent otherwise consented to by
Danaher or prohibited by applicable Law, Newco shall elect to relinquish, waive or otherwise forgo the carryback of any loss, credit or other Tax Attribute from any Post-Closing Period to any Pre-Closing Period or Straddle Period (a
“Carryback”). In the event that Newco (or the appropriate member of the Newco Group) is prohibited by applicable Law to relinquish, waive or otherwise forgo a Carryback (or Danaher consents to a Carryback), Danaher shall cooperate
with Newco, at Newco’s expense, in seeking from the appropriate Taxing Authority such Refund as reasonably would result from such Carryback, to the extent that such Refund is directly attributable to such Carryback, and shall pay over to Newco
the amount of such Refund, net of any Taxes imposed on the receipt of such Refund, within ten (10) days after such Refund is received; provided, however, that Newco shall indemnify and hold the members of the Danaher Group
harmless from and against any and all collateral Tax consequences resulting from or caused by any such Carryback, including, without limitation, the loss or postponement of any benefit from the use of Tax Attributes generated by a member of the
Danaher Group if (i) such Tax Attributes expire unutilized, but would have been utilized but for such Carryback, or (ii) the use of such Tax Attributes is postponed to a later taxable period than the taxable period in which such Tax
Attributes would have been utilized but for such Carryback. 

  
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 Section 4.03 Tax Attributes. 

(a) Danaher shall reasonably determine in good faith the allocation of Tax Attributes arising in a Pre-Closing Period to the Danaher Group and
the Newco Group in accordance with the Code and Treasury Regulations. Danaher shall be entitled to make any determination as to (A) basis, and (B) valuation, and shall make such determinations reasonably and in good faith and consistent
with Past Practice, where applicable. Danaher shall consult in good faith with NetScout regarding such allocation of Tax Attributes and determinations as to basis and valuation, and shall incorporate any reasonable comments received in writing from
NetScout regarding such allocation and determinations. Danaher and Newco hereby agree to compute all Taxes for Post-Closing Periods consistently with the determination of the allocation of Tax Attributes pursuant to this Section 4.03(a) unless
otherwise required by a Final Determination. 
 (b) To the extent that the amount of any Tax Attribute is later reduced or increased by a
Taxing Authority or Tax Proceeding, such reduction or increase shall be allocated to the Party to which such Tax Attribute was allocated pursuant to Section 4.03(a). 

Section 4.04 Treatment of Deductions Associated with Equity-Related Compensation. 

(a) Unless otherwise prohibited by applicable Law, from and after the Closing Date, solely Danaher or any member of the Danaher Group, as the
case may be, shall be entitled to claim any Tax deduction associated with the exercise in any taxable period of any Danaher stock options or stock appreciation rights by any Newco Employee. 

(b) “Newco Employee” means any person employed or formerly employed by any member of the Newco Group at the time of the
exercise, vesting, settlement disqualifying disposition or payment, as appropriate. 
 Section 4.05 Timing Differences. If
pursuant to a Final Determination any Tax Benefit is made allowable to a member of the Newco Group as a result of an Adjustment to any Taxes for which a member of the Danaher Group is responsible hereunder (or Tax Attribute of a member of the
Danaher Group) and such Tax Benefit would not have arisen or been allowable but for such Adjustment, or if pursuant to a Final Determination any Tax Benefit is made allowable to a member of the Danaher Group as a result of an Adjustment to any Taxes
for which a member of the Newco Group is responsible hereunder (or Tax Attribute of a member of the Newco Group) and such Tax Benefit would not have arisen or been allowable but for such Adjustment, Newco or Danaher, as the case may be, shall make a
payment to either Danaher or Newco, as appropriate, within thirty (30) days following such Final Determination, in an amount equal to the present value of such Tax Benefit (including any Tax Benefit made allowable as a result of the payment)
determined (i) using the highest marginal rates in effect at the time of the determination, (ii) assuming the Party to which such Tax Benefit is made allowable will be liable for Taxes at such rate and has no Tax Attributes at the time of
the determination, and (iii) assuming that the Tax Benefit is used at the earliest date allowable by applicable Law. The present value referred to in the preceding sentence shall be determined using a discount rate equal to the mid term
applicable federal rate in effect at the time of the Final Determination. 

  
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 ARTICLE V 

TAX PROCEEDINGS 

Section 5.01 Notification of Tax Proceedings. Within ten (10) days after an Indemnified Party becomes aware of the
commencement of a Tax Proceeding that may give rise to Taxes for which an Indemnifying Party is responsible pursuant to Article III, such Indemnified Party shall notify the Indemnifying Party of such Tax Proceeding, and thereafter shall promptly
forward or make available to the Indemnifying Party copies of notices and communications relating to such Tax Proceeding. The failure of the Indemnified Party to notify the Indemnifying Party of the commencement of any such Tax Proceeding within
such ten (10) day period or promptly forward any further notices or communications shall not relieve the Indemnifying Party of any obligation which it may have to the Indemnified Party under this Agreement except to the extent that the
Indemnifying Party is actually prejudiced by such failure. 
 Section 5.02 Tax Proceeding Procedures Generally. 

(a) Tax Proceedings relating to Danaher Consolidated Returns, Mixed Business U.S. Income Tax Returns and Single Business U.S. Income Tax
Returns. 
 (i) Except as provided in Section 5.03, Danaher shall be entitled to contest, compromise and settle any
Adjustment proposed, asserted or assessed pursuant to any Tax Proceeding with respect to any Danaher Consolidated Return, Mixed Business U.S. Income Tax Return, or Single Business Return required to be prepared by Danaher or a Danaher Entity
pursuant to Section 2.01, and any such defense shall be made diligently and in good faith; provided that to the extent that such Tax Proceeding could materially affect the amount of Taxes for which Newco is responsible pursuant to
Article III, Danaher (A) shall keep Newco informed in a timely manner of all actions proposed to be taken by Danaher with respect to such Tax Proceeding (or to the extent practicable the portion of such Tax Proceeding that relates to Taxes for
which Newco is responsible pursuant to Article III) and (B), shall permit Newco to participate in all proceedings with respect to such Tax Proceeding (or to the extent practicable the portion of such Tax Proceeding that relates to Taxes for which
Newco is responsible pursuant to Article III) and shall not settle any such Tax Proceeding without the prior written consent of Newco, which shall not be unreasonably withheld, delayed or conditioned. 

(ii) Except as provided in Section 5.03, Newco shall be entitled to contest, compromise and settle any Adjustment
proposed, asserted or assessed pursuant to any Tax Proceeding with respect to any Mixed Business U.S. Income Tax Return or Single Business Return required to be prepared by Newco or a Newco Entity pursuant to Section 2.01, and any such defense
shall be made diligently and in good faith; provided that to the extent that such Tax Proceeding could materially affect the amount of Taxes for which Danaher is responsible pursuant to Article III, Newco (A) shall keep Danaher informed
in a timely manner of all actions proposed to be taken by Newco with respect to such Tax Proceeding (or to the extent practicable the portion of such Tax Proceeding that relates to Taxes for which Danaher is responsible pursuant to Article III) and
(B) shall permit Danaher to participate in all proceedings with respect to such Tax Proceeding (or 

  
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to the extent practicable the portion of such Tax Proceeding that relates to Taxes for which Danaher is responsible pursuant to Article III) and shall not settle any such Tax Proceeding without
the prior written consent of Danaher, which shall not be unreasonably withheld, delayed or conditioned. 
 (b) Tax Proceedings relating
to Mixed Business Non-U.S. Income Tax Returns and Mixed Business Non-Income Tax Returns. The Preparing Party with respect to any Mixed Business Non-U.S. Income Tax Return or Mixed Business Non-Income Tax Return shall be entitled to contest,
compromise and settle any Adjustment proposed, asserted or assessed pursuant to any Tax Proceeding with respect to such Tax Return and any such defense shall be made diligently and in good faith; provided that the Preparing Party shall
(i) keep the Reviewing Party informed in a timely manner of all actions proposed to be taken by the Preparing Party with respect to such Tax Proceeding and, (ii) to the extent such Tax Proceeding could materially affect the amount of Taxes
for which the Reviewing Party is responsible pursuant to Article III, shall permit the Reviewing Party to participate in all proceedings with respect to such Tax Proceeding (or to the extent practicable the portion of such Tax Proceeding that
relates to Taxes for which the Reviewing Party is responsible pursuant to Article III) and shall not settle any such Tax Proceeding without the prior written consent of the Reviewing Party, which shall not be unreasonably withheld, delayed or
conditioned. 
 (c) Tax Proceedings relating to Single Business Returns. Except as provided in Sections 5.02(a) and 5.03, the
Indemnifying Party shall be entitled to contest, compromise and settle any Adjustment proposed, asserted or assessed pursuant to any Tax Proceeding with respect to any Single Business Return for which the Indemnifying Party is responsible pursuant
to Article III and any such defense shall be made diligently and in good faith; provided, that the Indemnifying Party shall keep the Indemnified Party informed in a timely manner of all actions proposed to be taken by the Indemnifying Party
and shall permit the Indemnified Party to participate in all proceedings with respect to such Tax Proceeding. 
 Section 5.03 Tax
Proceedings in respect of Disqualifying Actions. 
 (a) Danaher and Newco shall be entitled to jointly contest, compromise and settle any
Adjustment proposed, asserted or assessed pursuant to any Tax Proceeding relating to any Taxes attributable to a Newco Disqualifying Action. 

(b) Danaher shall be entitled to contest, compromise and settle any Adjustment proposed, asserted or assessed pursuant to any Tax Proceeding
relating to any Taxes attributable to a Danaher Disqualifying Action; provided, that Danaher shall keep Newco informed in a timely manner of all actions proposed to be taken by Danaher and shall permit Newco to participate in all proceedings
with respect to such Tax Proceeding. 

  
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 ARTICLE VI 

TAX-FREE STATUS OF THE DISTRIBUTION 

Section 6.01 Representations and Warranties. 

(a) Newco. Newco hereby represents and warrants or covenants and agrees, as appropriate, that the facts presented and the
representations made in (i) the IRS Ruling, (ii) the Opinions, (iii) each submission to the IRS in connection with the IRS Ruling Request, (iv) the representation letter from Danaher addressed to Counsel supporting the Opinions,
(v) the representation letter from Newco addressed to Counsel supporting the Opinions and (vi) any other materials delivered or deliverable by Danaher or Newco in connection with the rendering by Counsel of the Opinions and the issuance by
the IRS of the IRS Ruling (all of the foregoing, collectively, the “Tax Materials”), to the extent they both (A) are descriptive of the Newco Group (including the business purposes for each of the distributions described in the
IRS Ruling Request and the other Tax Materials to the extent that they relate to the Newco Group and the plans, proposals, intentions and policies of the Newco Group after the Effective Time), and (B) relate to the actions or non-actions of the
Newco Group to be taken (or not taken, as the case may be) after the Effective Time, are, or will be from the time presented or made through and including the Effective Time (and thereafter as relevant) true, correct and complete in all respects.

 (b) Danaher. Danaher hereby represents and warrants or covenants and agrees, as appropriate, that (i) it has delivered
complete and accurate copies of the Tax Materials to Newco and NetScout and (ii) the facts presented and the representations made therein, to the extent descriptive of (A) the Danaher Group at any time or (B) the Newco Group at any
time at or prior to the Effective Time (including, in each case, (x) the business purposes for each of the distributions described in the IRS Ruling Request and the other Tax Materials to the extent that they relate to the Danaher Group at any
time or the Newco Group at any time at or prior to the Effective Time, and (y) the plans, proposals, intentions and policies of the Danaher Group at any time or the Newco Group at any time at or prior to the Effective Time), are, or will be
from the time presented or made through and including the Effective Time (and thereafter as relevant) true, correct and complete in all respects. 

(c) No Contrary Knowledge. Each of Danaher and Newco represents and warrants that it knows of no fact (after due inquiry) that may
cause the Tax treatment of the Restructuring or the Distribution to be other than the Tax-Free Status of the Transactions. 
 (d) No
Contrary Plan. Each of Danaher and Newco represents and warrants that neither it, nor any of its Subsidiaries, has any plan or intent to take any action which is inconsistent with any statements or representations made in the Tax Materials. 

Section 6.02 Restrictions Relating to the Distribution. 

(a) General. Neither Danaher nor Newco shall, nor shall Danaher or Newco permit, any Danaher Entity or any Newco Entity, respectively,
to take or fail to take, as applicable, any action that constitutes a Disqualifying Action described in the definitions of Danaher Disqualifying Action and Newco Disqualifying Action, respectively. 

  
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 (b) Restrictions. Prior to the first day following the second anniversary of the
Distribution (the “Restriction Period”), Newco: 
 (i) shall continue and cause to be continued the active
conduct of the Communications Business, in each case taking into account Section 355(b)(3) of the Code, in all cases as conducted immediately prior to the Distribution; 

(ii) shall not voluntarily dissolve or liquidate itself or any Newco Entity (including any action that is a liquidation for
federal income tax purposes); 
 (iii) shall not (1) enter into any Proposed Acquisition Transaction or, to the extent
Newco has the right to prohibit any Proposed Acquisition Transaction, permit any Proposed Acquisition Transaction to occur, (2) redeem or otherwise repurchase (directly or through a Subsidiary) any stock, or rights to acquire stock, other than
repurchases satisfying the requirements of Section 4.05(1)(b) of Revenue Procedure 96-30, 1996-1 C.B. 696 (as in effect prior to the release of Revenue Procedure 2003-48, 2003-2 C.B. 86),
(3) amend its certificate of incorporation (or other organizational documents), or take any other action, whether through a stockholder vote or otherwise, affecting the relative voting rights of its capital stock (including through the
conversion of any capital stock into another class of capital stock), (4) merge or consolidate with any other Person (other than pursuant to the Merger and the LLC Merger) or (5) take any other action or actions (including any action or
transaction that would be reasonably likely to be inconsistent with any representation made in the Tax Materials), in each case which in the aggregate (and taking into account the Merger, the LLC Merger and any other transactions described in this
Section 6.02(b)(iii)) would, when combined with any other direct or indirect changes in ownership of Newco capital stock pertinent for purposes of Section 355(e) of the Code (including the Merger and the LLC Merger), have the effect of
causing or permitting one or more Persons (whether or not acting in concert) to acquire directly or indirectly stock representing a Fifty-Percent or Greater Interest in Newco or would reasonably be expected to result in a failure to preserve the
Tax-Free Status of the Transactions; and 
 (iv) shall not, and shall not permit any member of the Newco Group, to sell,
transfer, or otherwise dispose of or agree to, sell, transfer or otherwise dispose (including in any transaction treated for federal income tax purposes as a sale, transfer or disposition) of assets (including, any shares of capital stock of a
Subsidiary) that, in the aggregate, constitute more than 25% of the consolidated gross assets of Newco or the Newco Group. The foregoing sentence shall not apply to (1) sales, transfers, or dispositions of assets in the Ordinary Course of
Business, (2) any cash paid to acquire assets from an unrelated Person in an arm’s-length transaction, (3) any assets transferred to a Person that is disregarded as an entity separate from the transferor for federal income tax
purposes or (4) any mandatory or optional repayment (or pre-payment) of any indebtedness of Newco or any member of the Newco Group. The percentages of gross assets or consolidated gross assets of Newco or the Newco Group, as the case may be,

  
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sold, transferred, or otherwise disposed of, shall be based on the fair market value of the gross assets of Newco and the members of the Newco Group as of the Closing Date. For purposes of this
Section 6.02(b)(iv), a merger of Newco or one of its Subsidiaries with and into any Person that is not a wholly owned Subsidiary of Newco or NetScout shall constitute a disposition of all of the assets of Newco or such Subsidiary. 

(c) Notwithstanding the restrictions imposed by Section 6.02(b), during the Restriction Period, Newco may proceed with any of the actions
or transactions described therein, if (i) Newco shall first have requested Danaher to obtain a supplemental ruling in accordance with Section 6.03(a) to the effect that such action or transaction will not affect the Tax-Free Status of the
Transactions and Danaher shall have received such a supplemental ruling in form and substance reasonably satisfactory to it, (ii) Newco shall have provided to Danaher an Unqualified Tax Opinion in form and substance reasonably satisfactory to
Danaher, or (iii) Danaher shall have waived in writing the requirement to obtain such ruling or opinion. For the avoidance of doubt, the presence of a supplemental ruling, an Unqualified Tax Opinion or a waiver from Danaher shall not relieve
Newco from indemnification obligations otherwise present under Article III of this Agreement. In determining whether a ruling or opinion is satisfactory, Danaher may consider, among other factors, the appropriateness of any underlying assumptions or
representations used as a basis for the ruling or opinion and the views on the substantive merits. 
 (d) Tax Reporting. Each of
Danaher and Newco covenants and agrees that it will not take, and will cause its respective Subsidiaries to refrain from taking, any position on any Income Tax Return that is inconsistent with the Tax-Free Status of the Transactions. 

(e) For the avoidance of the doubt, notwithstanding the restrictions set forth in this Section 6.02, (i) Newco shall be permitted to
enter into the Merger and the LLC Merger, (ii) Merger Sub II shall be permitted to liquidate or merge with and into NetScout, (iii) Newco may adopt or modify a shareholder rights plan (and issue stock in accordance therewith) that is
described in or similar to the shareholder rights plan described in Revenue Ruling 90-11, 1990-1 C.B. 10. 
 Section 6.03 Procedures
Regarding Opinions and Rulings. 
 (a) If Newco notifies Danaher that it desires to take one of the actions described in
Section 6.02(b) (a “Notified Action”), Danaher shall cooperate with Newco and use its reasonable best efforts to seek to obtain a supplemental ruling from the IRS or an Unqualified Tax Opinion for the purpose of permitting
Newco to take the Notified Action unless Danaher shall have waived the requirement to obtain such ruling or opinion. If such a ruling is to be sought, Danaher shall apply for such ruling and Danaher and Newco shall jointly control the process of
obtaining such ruling. In no event shall Danaher be required to file any ruling request under this Section 6.03(a) unless Newco represents that (i) it has read such ruling request, and (ii) all information and representations, if any,
relating to any member of the Newco Group, contained in such ruling request documents are (subject to any qualifications therein) true, correct and complete. Newco shall reimburse Danaher for all reasonable costs and expenses incurred by the Danaher
Group in obtaining or seeking to obtain a ruling or Unqualified Tax Opinion requested by Newco within ten (10) days after receiving an invoice from Danaher therefor. 

  
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 (b) Danaher shall have the right to obtain a supplemental ruling or an Unqualified Tax Opinion at
any time in its sole and absolute discretion. If Danaher determines to obtain such ruling or opinion, Newco shall (and shall cause each Newco Entity to) cooperate with Danaher and take any and all actions reasonably requested by Danaher in
connection with obtaining such ruling or opinion (including by making any representation or reasonable covenant or providing any materials requested by the IRS or the law firm issuing such opinion); provided, that Newco shall not be required
to make (or cause a Newco Entity to make) any representation or covenant that is untrue or inconsistent with historical facts, or as to future matters or events over which it has no control. In connection with obtaining such ruling, Danaher shall
apply for such ruling and shall have sole and exclusive control over the process of obtaining such ruling. Danaher shall reimburse Newco for all reasonable costs and expenses incurred by the Newco Group in cooperating with Danaher’s efforts to
obtain a supplemental ruling or Unqualified Tax Opinion within ten (10) days after receiving an invoice from Newco therefor. 
 (c)
Except as provided in Sections 6.03(a) and (b), following the Effective Time, neither Newco nor any Newco Subsidiary shall seek any guidance from the IRS or any other Taxing Authority (whether written, verbal or otherwise) at any time
concerning the Restructuring or the Distribution (including the impact of any transaction on the Restructuring or Distribution). 

ARTICLE VII 

COOPERATION 

Section 7.01 General Cooperation. 

(a) The Parties shall each cooperate fully (and each shall cause its respective Subsidiaries to cooperate fully) with all reasonable requests
in writing (“Information Request”) from another Party hereto, or from an agent, representative or advisor to such Party, in connection with the preparation and filing of Tax Returns (including the preparation of Tax Packages),
claims for Refunds, Tax Proceedings, and calculations of amounts required to be paid pursuant to this Agreement, in each case, related or attributable to or arising in connection with Taxes of any of the Parties or their respective Subsidiaries
covered by this Agreement and the establishment of any reserve required in connection with any financial reporting (a “Tax Matter”). Such cooperation shall include the provision of any information reasonably necessary or helpful in
connection with a Tax Matter (“Information”) and shall include, without limitation, at each Party’s own cost: 

(i) the provision of any Tax Returns of the Parties and their respective Subsidiaries, books, records (including information
regarding ownership and Tax basis of property), documentation and other information relating to such Tax Returns, including accompanying schedules, related work papers, and documents relating to rulings or other determinations by Taxing Authorities
(or, in the case of any Danaher Consolidated Return or Mixed Business Income Tax Return to the extent practicable, the portion of such Tax Return that relates to Taxes for which Newco is responsible pursuant to this Agreement); 

  
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 (ii) the execution of any document (including any power of attorney) in
connection with any Tax Proceedings of any of the Parties or their respective Subsidiaries, or the filing of a Tax Return or a Refund claim of the Parties or any of their respective Subsidiaries; 

(iii) the use of the Party’s reasonable best efforts to obtain any documentation in connection with a Tax Matter; and 

(iv) the use of the Party’s reasonable best efforts to obtain any Tax Returns (including accompanying schedules, related
work papers, and documents), documents, books, records or other information in connection with the filing of any Tax Returns of any of the Parties or their Subsidiaries (or, in the case of any Danaher Consolidated Return or Mixed Business Income Tax
Return to the extent practicable, the portion of such Tax Return, documents, books, records or other information that relates to Taxes for which Newco is responsible pursuant to this Agreement). 

Each Party shall make its employees, advisors, and facilities available, without charge, on a reasonable and mutually convenient basis in
connection with the foregoing matters. 
 Section 7.02 Retention of Records. Danaher and Newco shall retain or cause to be
retained all Tax Returns, schedules and work papers, and all material records or other documents relating thereto in their possession, in each case that relate to a Pre-Closing Period, until seven years following the Closing Date (the
“Retention Date”). After the Retention Date, a Party intending to destroy any material records or documents shall provide the other Party with ninety (90) days’ prior written notice and the opportunity to copy or take
possession of such records and documents. If, prior to the Retention Date, a Party reasonably determines that any records or documents that it would otherwise be required to preserve and keep under this Section 7.02 are no longer material in
the administration of any matter under the Code or other applicable Tax Law and the other Party agrees, then such first Party may dispose of such records or documents upon ninety (90) days’ prior notice to the other Party. Any notice of an
intent to dispose given pursuant to this Section 7.02 shall include a list of the records or documents to be disposed of describing in reasonable detail each file, book, or other record being disposed. The notified Party shall have the
opportunity, at its cost and expense, to copy take possession of such records and documents. 
 ARTICLE VIII 

MISCELLANEOUS 

Section 8.01 Dispute Resolution. In the event of any dispute between the Parties as to any matter covered by this Agreement, the
parties shall appoint a nationally recognized independent public accounting firm (the “Accounting Firm”) to resolve such dispute. In this regard, the Accounting Firm shall make determinations with respect to the disputed items based
solely on representations made by Danaher and Newco and their respective representatives, and 

  
 -24- 

 
not by independent review, and shall function only as an expert and not as an arbitrator and shall be required to make a determination in favor of one Party only. The Parties shall require the
Accounting Firm to resolve all disputes no later than thirty (30) days after the submission of such dispute to the Accounting Firm, but in no event later than the Due Date for the payment of Taxes or the filing of the applicable Tax Return, if
applicable, and agree that all decisions by the Accounting Firm with respect thereto shall be final and conclusive and binding on the Parties. The Accounting Firm shall resolve all disputes in a manner consistent with this Agreement and, to the
extent not inconsistent with this Agreement, in a manner consistent with the Past Practices of Danaher and its Subsidiaries, except as otherwise required by applicable Law. The Parties shall require the Accounting Firm to render all determinations
in writing and to set forth, in reasonable detail, the basis for such determination. The fees and expenses of the Accounting Firm shall be borne equally by the Parties. 

Section 8.02 Interest on Late Payments. With respect to any payment between the Parties pursuant to this Agreement not made by the
due date set forth in this Agreement for such payment, the outstanding amount will accrue interest at a rate per annum equal to the rate in effect for underpayments under Section 6621 of the Code from such due date to and including the payment
date. 
 Section 8.03 Survival of Covenants. Except as otherwise contemplated by this Agreement, all covenants and agreements of
the Parties contained in this Agreement shall survive the Effective Time and remain in full force and effect in accordance with their applicable terms. 

Section 8.04 Successors. This Agreement shall be binding on and inure to the benefit of any successor by merger, acquisition of
assets, or otherwise, to any of the parties hereto (including without limitation any successor of Danaher or Newco succeeding to the Tax Attributes of either under Section 381 of the Code), to the same extent as if such successor had been an
original party to this Agreement. As of the Effective Time, this Agreement shall be binding on NetScout and NetScout shall be subject to the obligations and restrictions imposed on Newco hereunder, including, without limitation, with respect to the
restrictions imposed on Newco under Section 6.02, and for the avoidance of doubt any restrictions applicable to Newco shall apply to NetScout mutatis mutandis. 

Section 8.05 Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced
under any Law or as a matter of public policy, all other conditions and provisions of this Agreement shall remain in full force and effect. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced,
the Parties to this Agreement shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner. 

Section 8.06 Entire Agreement. Except as otherwise expressly provided in this Agreement, this Agreement constitutes the entire
agreement of the Parties hereto with respect to the subject matter of this Agreement and supersedes all prior agreements and undertakings, both written and oral, between or on behalf of the Parties hereto with respect to the subject matter of this
Agreement. 

  
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 Section 8.07 Assignment; No Third-Party Beneficiaries. This Agreement shall not be
assigned by any Party without the prior written consent of the other Parties hereto, except that each Party may assign (a) any or all of its rights and obligations under this Agreement to any of its Subsidiaries and (b) any or all of its
rights and obligations under this Agreement in connection with a sale or disposition of any of its assets or entities or lines of business; provided, however, that, in each case, no such assignment shall release such Party from any
liability or obligation under this Agreement. Except as provided in Article III with respect to indemnified Parties, this Agreement is for the sole benefit of the Parties to this Agreement and their respective Subsidiaries and their permitted
successors and assigns and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

Section 8.08 Specific Performance. In the event of any actual or threatened default in, or breach of, any of the terms, conditions
and provisions of this Agreement, the Party who is or is to be thereby aggrieved shall have the right to specific performance and injunctive or other equitable relief of its rights under this Agreement, in addition to any and all other rights and
remedies at law or in equity, and all such rights and remedies shall be cumulative. The Parties agree that the remedies at law for any breach or threatened breach, including monetary damages, may be inadequate compensation for any loss and that any
defense in any action for specific performance that a remedy at law would be adequate is waived. Any requirements for the securing or posting of any bond with such remedy are waived by the Parties to this Agreement. 

Section 8.09 Amendment. No provision of this Agreement may be amended or modified except by a written instrument signed by the
Parties to this Agreement. No waiver by any Party of any provision of this Agreement shall be effective unless explicitly set forth in writing and executed by the Party so waiving. The waiver by any Party of a breach of any provision of this
Agreement shall not operate or be construed as a waiver of any other subsequent breach. 
 Section 8.10 Rules of Construction.
Interpretation of this Agreement shall be governed by the following rules of construction: (a) words in the singular shall be held to include the plural and vice versa and words of one gender shall be held to include the other gender as the
context requires; (b) references to the terms Article, Section, paragraph, clause, Exhibit and Schedule are references to the Articles, Sections, paragraphs, clauses, exhibits and schedules of this Agreement unless otherwise specified;
(c) the terms “hereof,” “herein,” “hereby,” “hereto,” and derivative or similar words refer to this entire Agreement, including the Schedules and Exhibits hereto; (d) references to “$”
shall mean U.S. dollars; (e) the word “including” and words of similar import when used in this Agreement shall mean “including without limitation,” unless otherwise specified; (f) the word “or” shall not be
exclusive; (g) references to “written” or “in writing” include in electronic form; (h) provisions shall apply, when appropriate, to successive events and transactions; (i) the headings contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement; (j) Danaher and Newco have each participated in the negotiation and drafting of this Agreement and if an ambiguity or question of
interpretation should arise, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or burdening either Party by virtue of the authorship of any of the provisions in
this Agreement or any interim drafts of this Agreement; and (k) a reference to any Person includes such Person’s successors and permitted assigns. 

  
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 Section 8.11 Counterparts. This Agreement may be executed in one or more counterparts
each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or portable document
format (PDF) shall be as effective as delivery of a manually executed counterpart of any such Agreement. 
 Section 8.12
Coordination with the Employee Matters Agreement. To the extent any covenants or agreements between the Parties with respect to employee withholding Taxes are set forth in the Employee Matters Agreement, such Taxes shall be governed
exclusively by the Employee Matters Agreement and not by this Agreement. 
 Section 8.13 Confidentiality. The parties hereby
agree that the provisions of the Confidentiality Agreement shall apply to all information and material furnished by any party or its representatives hereunder (including any Information and any Tax Returns). 

Section 8.14 Expenses. Except as otherwise provided in this Agreement, whether or not the Distribution or the other transactions
contemplated by this Agreement are consummated, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the Party incurring such costs or expenses. For the avoidance of doubt, all
liabilities, costs and expenses incurred in connection with this Agreement by or on behalf of Newco or any member of the Newco Group prior to the Effective Time shall be the responsibility of Danaher and shall be assumed in full by Danaher. 

Section 8.15 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of
Delaware, without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. 

Section 8.16 Notices. Any notice, demand, claim or other communication under this Agreement will be in writing and will be deemed
to have been given (a) on delivery if delivered personally; (b) on the date on which delivery thereof is guaranteed by the carrier if delivered by a national courier guaranteeing delivery within a fixed number of days of sending; or
(c) on the date of facsimile transmission thereof if delivery is confirmed, but, in each case, only if addressed to the Parties in the following manner at the following addresses or facsimile numbers (or at the other address or other number as
a Party may specify by notice to the others): 
  

					
			If to: Danaher, to:
		
			c/o Danaher Corporation
			2200 Pennsylvania Ave., NW - Suite 800W
			Washington, DC 20037-1701
			Attn:		Attila Bodi
			Email:		attila.bodi@danaher.com
			Facsimile:		(202) 419-7676
			Attn:		Jonathan Schwarz
			Email:		jonathan.schwarz@danaher.com
			Facsimile:		(202) 419-7668

  
 -27- 

					
			with a copy to:
		
			Skadden, Arps, Slate, Meagher & Flom LLP
			Four Times Square
			New York, New York 10036
			Tel:		(212) 735-3000
			Attention:		Joseph A. Coco
					Thomas W. Greenberg
			E-mail:		joseph.coco@skadden.com
					thomas.greenberg@skadden.com
			Facsimile:		(917) 777-2000
		
			If to: NetScout or Newco, to:
		
			NetScout Systems, Inc.
			310 Littleton Road
			Westford, Massachusetts 01886
			Attn: Anil K. Singhal, CEO
			Email: Anil.Singhal@netscout.com
			Facsimile: (978) 614-4004
		
			with a copy to:
		
			Baker & McKenzie LLP
			660 Hansen Way
			Palo Alto, CA 94304
			Attn: Matthew Gemello
			Facsimile: (650) 856-9299
		
			with an additional copy to:
		
			Cooley LLP
			500 Boylston Street, 14th Floor
			Boston, Massachusetts 02116
			Tel:		(617) 937-2319
			Attention:		Miguel J. Vega and
					Barbara Borden
			E-mails:		mvega@cooley.com
					bborden@cooley.com
			Facsimile:		(617) 937-2400

  
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 Any notice to Danaher will be deemed notice to all members of the Danaher Group, and any notice to Newco will be
deemed notice to all members of the Newco Group. 
 Section 8.17 Effective Date. This Agreement shall become effective only upon
the occurrence of the Distribution. 
 [The remainder of this page is intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day and
year first above written. 
  

			
	Danaher Corporation
		
	By		 /s/ Daniel L. Comas

	Name:		Daniel L. Comas
	Title:		Executive VP & CFO
	
	Potomac Holding LLC
		
	By		 /s/ Daniel L. Comas

	Name:		Daniel L. Comas
	Title:		CFO & Chief Accounting Officer
	
	NetScout Systems, Inc.
		
	By		 /s/ Anil K. Singhal

	Name:		Anil K. Singhal
	Title:		Chief Executive Officer

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