Document:

Exhibit 10.1

CONSULTING AGREEMENT

AGREEMENT (this “Agreement”) made as
of  July 5, 2006 by and
between John F. Kirby (the “Consultant”), with an address at 6 Vista Drive,
Boonton, NJ 07005, and Navigators Management Company, Inc. (the “Company”),
with offices at Reckson Executive Park, 6 International Drive, Rye Brook, NY
10573.

W  I  T  N  E 
S  S  E  T  H:

WHEREAS, the Company
wishes to retain the Consultant to provide certain consulting services to the
Company; and

WHEREAS, the
Consultant is willing to provide the Company with such consulting services.

NOW, THEREFORE, the parties hereby agree as
follows:

1.             Retention of
Consultant. The Company hereby agrees to retain the Consultant,
and the Consultant hereby accepts such retention, on the terms and subject to
the conditions set forth in this Agreement, to provide the Company with such
underwriting advisory and other consulting services (the “Services”) as may be
requested by the Company from time to time during the Term (as hereinafter
defined).

2.             Availability of
Consultant. The Consultant agrees to devote such time and
attention to providing the Services as he and the Company shall jointly deem
reasonably necessary or appropriate.

3.             Term of Agreement.
The term of this Agreement (the “Term”) shall be for a period of one
year from the date hereof, unless either party hereto provides to the other
party 30 days’ prior written notice of such party’s election to terminate this
Agreement during the Term.

4.             Compensation. The Company
agrees to pay to the Consultant, as full compensation for the provision of the
Services by the Consultant during the Term, the sum of Thirty-Five Thousand
Dollars ($35,000) per annum (the “Compensation”). The Compensation shall be
payable on a monthly basis, upon receipt by the Company of an invoice from the
Consultant. The Company shall also reimburse the Consultant, upon presentation
by the Consultant to the Company of receipts or other appropriate supporting
documentation, for all reasonable travel expenses incurred by the Consultant in
performing the Services.

5.             Notices. Any notice
given under this Agreement shall be made in writing and shall be deemed to be
given when mailed via a nationally recognized overnight delivery service or by
registered or certified mail, postage prepaid, addressed to the other party at
the appropriate address set forth above, or at such other address as such other
party may hereafter designate by written notice hereunder.

 

 

 

6.             Assignment. Neither party
shall assign this Agreement without the prior written consent of the other
party.

7.             Independent
Contractor. The parties expressly agree and intend that the
Consultant, at all times hereunder, is acting as an independent contractor and
assumes full responsibility for his actions while providing the Services
pursuant to this Agreement. In no event shall the Consultant be considered an
employee of the Company, nor shall the Company be responsible for the payment
to the Consultant of any compensation or employment benefits except as
expressly set forth in this Agreement.

8.             Governing Law. This Agreement
shall be governed by and construed in accordance with the laws of the State of
New York applicable to agreements made and to be performed entirely within such
State.

9.             Entire Agreement;
Amendment. This Agreement constitutes the entire agreement
between the parties, and supersedes all prior understandings, whether oral or
written, between them, with respect to the subject matter hereof. This
Agreement may not be amended except as agreed in writing by both parties
hereto.

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first above written.

NAVIGATORS MANAGEMENT COMPANY, INC.

By:  /s/ Stanley A.
Galanski

JOHN F. KIRBY

By: /s/ John F. Kirby

 2Exhibit 10.30

DEMAND PROMISSORY NOTE

	
  $40,000,000

  	
  dated as of July 5, 2006

  

 

FOR VALUE
RECEIVED, the undersigned, BRUKER
BIOSCIENCES CORPORATION, a
Delaware corporation (the “Borrower”), with a principal place of
business at 40 Manning Road, Billerica, Massachusetts 01821, by this promissory
note (hereinafter referred to as the “Note”), absolutely and
unconditionally promises to pay to the order of CITIZENS
BANK OF MASSACHUSETTS (hereinafter, together with its successors in
title and assigns, called the “Lender”), at its office at 28 State
Street, Boston, Massachusetts 02109, ON DEMAND AT ANY TIME,
the principal sum of FORTY MILLION DOLLARS
($40,000,000), or so much thereof as shall have been advanced by the
Lender to the Borrower by way of loans under this Note (each, a “Loan”,
and collectively, the “Loans”) and shall remain outstanding, and to pay
interest on the principal sum outstanding hereunder from time to time from the
date hereof until the said principal sum or the unpaid portion thereof shall
have become due and payable as hereinafter provided and has been paid in full
by the Borrower. This Note evidences, among other things, the obligation of the
Borrower to repay Loans made hereunder by the Lender to the Borrower.

On or after the date hereof the Lender may, in its
sole and absolute discretion, advance to the Borrower in one or more advances
the principal amount of up to forty million dollars ($40,000,000) less
the aggregate amount of the LC Exposure (as hereinafter defined). Amounts
advanced hereunder may be repaid and readvanced from time to time upon the
request of the Borrower, provided that at all times the decision as to
whether to advance amounts shall be in the Lender’s sole and absolute
discretion, it being understood that, notwithstanding anything to the contrary
contained herein, the Lender is and shall be under no commitment to advance
funds hereunder. Subject to the immediately preceding sentence, the Borrower
may draw upon the amounts available under this Note by submitting to the Lender
a draw down certificate specifying the amount sought to be borrowed by the
Borrower hereunder and whether such Loan shall be a Prime Rate Loan, a LIBOR
Rate Loan or a LIBOR Advantage Loan (as each such term is hereinafter defined),
which certificate shall be signed by a duly authorized officer of the Borrower.
The Loans made by the Lender to the Borrower pursuant to this Note and all
repayments of principal made hereunder shall be recorded by the Lender on the
schedule annexed hereto, but any failure of the Lender to record the making of
such Loans or any error in so recording, shall not limit or otherwise affect
the obligations of the Borrower hereunder to make payments of principal of or
interest on this Note when due.

From
time to time prior to the maturity of this Note, at the request of the Borrower
(which request shall be in writing and delivered to Lender not fewer than two (2) nor
more than 

 

five (5) Business
Days (as hereinafter defined) in the case of LIBOR Rate Loans (as hereinafter
defined) and LIBOR Advantage Loans (as hereinafter defined) and one (1) Business
Day in the case of Prime Rate Loans (as hereinafter defined) prior to the
drawdown date of any advance), the Lender shall make advances to the Borrower
subsequent to the date hereof, and the Borrower may borrow, repay and reborrow
the funds available hereunder, provided
that the aggregate principal amount of all Loans outstanding hereunder plus the
LC Exposure shall in no event exceed forty million dollars ($40,000,000). All
Loans made by the Lender to the Borrower pursuant to this Note and all
repayments of principal made hereunder shall be recorded by the Lender on the
schedule annexed hereto. In addition, to the extent the Borrower requests that
the Lender issue a letter of credit for the Borrower’s or any Subsidiaries’
account, the Borrower or such Subsidiary shall be required to execute and
deliver an application for such letter of credit on the Lender’s standard form,
and comply with any other conditions and/or requirements which the Lender may
request. In addition, the Borrower hereby acknowledges and agrees that to the
extent any letter of credit (whether issued for the Borrower’s account or the
account of a Subsidiary) remains issued and outstanding beyond the date on
which demand is made hereunder, the Borrower will, immediately upon demand
hereunder pay to the Lender an amount equal to the aggregate LC Exposure, which
amount shall be held by the Lender as cash collateral for all reimbursement
obligations and other LC Exposure for all such letters of credit. The letter of
credit shall be governed by the terms and conditions set forth in such letter
of credit (including, without limitation, any and all fees to be paid in
connection with each such letter of credit).

The entire unpaid
principal (not at the time overdue) of this Note outstanding shall bear
interest at an annual rate which shall at all times be equal to the Prime Rate
(as hereinafter defined) in effect from time to time during the period
beginning on the date hereof and ending on the date on which the entire unpaid
principal amount of this Note shall be paid in full (such Loans bearing
interest at the Prime Rate shall hereinafter be referred to as “Prime Rate Loans”); provided, however,
that (a) if a LIBOR Rate option is in effect with respect to any principal
amount outstanding hereunder, such principal amount shall bear interest in
accordance with the LIBOR Rate provisions set forth in the next paragraph; and (b) if
a LIBOR Advantage Rate option is in effect with respect to any principal amount
outstanding hereunder, such principal amount shall bear interest in accordance
with the LIBOR Advantage Rate provisions set forth in the sixth paragraph of
this Note (any such Loan bearing interest at the LIBOR Advantage Rate shall
hereinafter be referred to as a “LIBOR
Advantage Loan”).

By delivering a
borrowing request to the Lender on or before 10:00 a.m., New York time, on
a Business Day, the Borrower may from time to time irrevocably request, on not
less than two nor more than five Business Days’ notice, that a LIBOR Rate Loan
be made in a minimum amount of $100,000 and integral multiples of $100,000 with
an Interest Period of one, two, three or six months. To the extent the Lender,
in its sole and absolute discretion, elects to honor such a request, each LIBOR
Rate Loan will be made available to the Borrower no later than 11:00 a.m.
New York time on the first day of the applicable LIBOR Rate Interest Period by
deposit to the account of the Borrower as shall have been specified in its
borrowing request. By delivering a continuation/conversion notice to the Lender
on or before 10:00 a.m., New York time, on a Business Day, the Borrower
may from time to time irrevocably elect, on not less than two nor more than five
Business Days’ notice, that all, or any portion in an aggregate minimum amount
of $100,000 and integral multiples of $100,000, of any LIBOR Rate Loan be
converted on the last 

 -2-
 

 

day of a LIBOR
Rate Interest Period into a LIBOR Rate Loan with a different LIBOR Rate
Interest Period, or continued on the last day of a LIBOR Rate Interest Period
as a LIBOR Rate Loan with a similar LIBOR Rate Interest Period, provided,
however, no portion of the outstanding principal amount of any LIBOR
Rate Loans may be converted to, or continued as, LIBOR Rate Loans after the
Lender has made demand hereunder (including, without limitation, the occurrence
of a Demand Event), and no portion of the outstanding principal amount of any
LIBOR Rate Loans may be converted to LIBOR Rate Loans of a different duration
if such LIBOR Rate Loans relate to any Hedging Obligations. If the Lender has
made demand hereunder (including, without limitation, the occurrence of a
Demand Event), or in the absence of delivery of a continuation/conversion
notice with respect to any LIBOR Rate Loan at least two Business Days before
the last day of the then current LIBOR Rate Interest Period with respect
thereto, each maturing LIBOR Rate Loan shall automatically be continued as a
Prime Rate Loan. LIBOR Rate Loans shall mature and become payable in full on
the last day of the LIBOR Rate Interest Period relating to such LIBOR Rate Loan.
Unless the Lender has made demand hereunder (including, without limitation, the
occurrence of a Demand Event), upon the maturity of a LIBOR Rate Loan, it may
be continued for an additional LIBOR Rate Interest Period or may be converted
to a Prime Rate Loan or a LIBOR Advantage Loan. LIBOR Rate Loans may be prepaid
upon the terms and conditions set forth herein. For LIBOR Rate Loans in
connection with which the Borrower has or may incur Hedging Obligations,
additional obligations may be associated with prepayment, in accordance with
the terms and conditions of the applicable Hedging Contracts.  Interest on the outstanding principal amount
of any LIBOR Rate Loan shall accrue during each LIBOR Rate Interest Period at a
rate equal to the sum of the LIBOR Lending Rate for such LIBOR Rate Interest
Period plus one percent (1%) per annum and shall be payable on each LIBOR Rate
Interest Payment Date and interest on the outstanding principal amount of any
LIBOR-Reference Bank Rate Loan shall accrue during each LIBOR Rate Interest
Period at a rate equal to the sum of the LIBOR-Reference Bank Lending Rate for
such LIBOR Rate Interest Period plus one percent (1%) per annum and shall be
payable on each LIBOR Rate Interest Payment Date. The Borrower shall give the
Lender, no later than 10:00 a.m., New York City time, at least four (4) Business
Days notice of any proposed prepayment of any LIBOR Rate Loans, specifying the
proposed date of payment of such LIBOR Rate Loans, and the principal amount to
be paid. Each partial prepayment of the principal amount of LIBOR Rate Loans
shall be in an integral multiple of $100,000 and accompanied by the payment of
all charges outstanding on such LIBOR Rate Loans and of all accrued interest on
the principal repaid to the date of payment. Borrower acknowledges that
prepayment or acceleration of a LIBOR Rate Loan during a LIBOR Rate Interest
Period shall result in the Lender incurring additional costs, expenses and/or
liabilities and that it is extremely difficult and impractical to ascertain the
extent of such costs, expenses and/or liabilities. Therefore, all full or
partial prepayments of LIBOR Rate Loans shall be accompanied by, and the
Borrower hereby promises to pay, on each date a LIBOR Rate Loan is prepaid or
the date all sums payable hereunder become due and payable, by acceleration or
otherwise, in addition to all other sums then owing, an amount (“LIBOR Rate Loan Prepayment Fee”) determined by
the Lender pursuant to the following formula:

(a)  the then current rate for United States
Treasury securities (bills on a discounted basis shall be converted to a bond
equivalent) with a maturity date closest to the end of the LIBOR Rate Interest
Period as to which prepayment is made, subtracted
from

 -3-
 

 

(b)  the LIBOR Lending Rate plus 1% per annum
applicable to the LIBOR Rate Loan being prepaid.

If the result of
this calculation is zero or a negative number, then there shall be no LIBOR
Rate Loan Prepayment Fee. If the result of this calculation is a positive
number, then the resulting percentage shall be multiplied by the amount of the
LIBOR Rate Loan being prepaid. The resulting amount shall be divided by (1) 360
and multiplied by (2) the number of days remaining in the LIBOR Rate
Interest Period as to which the prepayment is being made. Said amount shall be
reduced to present value calculated by using the referenced United States
Treasury securities rate and the number of days remaining on the LIBOR Rate
Interest Period for the LIBOR Rate Loan being prepaid. The resulting amount of
these calculations shall be the LIBOR Rate Loan Prepayment Fee.

At the option of
the Borrower, all or any portion of the unpaid principal (not at the time
overdue) of this Note outstanding shall bear interest at the “LIBOR Advantage Rate”, which means, relative
to any Interest Period (as hereinafter defined), the offered rate for delivery
in two (2) London Banking Days of deposits of U.S. Dollars which the  British Bankers’ Association fixes as its
LIBOR rate as of 11:00 a.m. London time on the day on which the Interest
Period commences, and for a period approximately equal to such Interest Period.
If the first day of any Interest Period is not a day which is both a (a) Business
Day and (b) a London Banking Day, the LIBOR Advantage Rate shall be
determined in reference to the next preceding day which is both a Business Day
and a London Banking Day. If for any reason the LIBOR Advantage Rate is unavailable
and/or the Lender is unable to determine the LIBOR Advantage Rate for any
Interest Period, the LIBOR Advantage Rate shall be deemed to equal the Prime
Rate. For purposes of LIBOR Advantage Loans, “Interest
Period” means initially, the period commencing on the date of this Note
(the “Start Date”) and ending on the
numerically corresponding date one month later, and thereafter each one month
period ending on the date of such month that numerically corresponds to the
Start Date. If an Interest Period is to end in a month for which there is no
day which numerically corresponds to the Start Date, the Interest Period will
end on the last day of such month (or on demand, if demand is made prior to
such date). Interest on the outstanding principal amount of the LIBOR Advantage
Loan shall accrue during the Interest Period applicable thereto at the rate
equal to the sum of the LIBOR Advantage Rate for such Interest period plus one
percent (1%) per annum and shall be payable on the “Interest Payment Date”, which
initially shall be August 5, 2006 and thereafter the numerically
corresponding date of each month. If a month does not contain a day that
numerically corresponds to the date of such Interest Payment Date, the Interest
Payment Date shall be the last day of such month.

Beginning August 31,
2006, and on the last Business Day (as hereinafter defined) of each successive
calendar month, there shall become absolutely due and payable hereunder, and
the Borrower promises to pay to the holder hereof, all of the unpaid interest
accrued to the date of payment on the unpaid principal hereof not at the time
overdue and not at the time bearing interest at the LIBOR Rate or LIBOR
Advantage Rate option set forth in the preceding paragraphs.

 -4-
 

 

On DEMAND there shall become absolutely due and payable by the
Borrower hereunder (without regard to the length of any interest period in
effect), and the Borrower hereby promises to pay to the holder hereof, the
balance (if any) of the principal hereof then remaining unpaid, all of the
unpaid interest accrued hereon and all (if any) other amounts payable on or in
respect of this Note or the indebtedness evidenced hereby.

Each overdue
amount (whether of principal, interest or otherwise) payable on or in respect
of this Note or the indebtedness evidenced hereby shall (to the extent
permitted by applicable law) bear interest, from the date on which such amount
shall have first become due and payable in accordance with the terms hereof to
the date on which such amount shall be paid to the holder of this Note (whether
before or after judgment), at the annual rate of interest which shall (to the
extent permitted by applicable law) at all times be two percent (2%) above the
Prime Rate (as hereinafter defined) in effect from time to time. The unpaid
interest accrued on each overdue amount in accordance with the foregoing terms
of this paragraph shall become absolutely due and payable by the Borrower to
the holder hereof on demand by the holder of this Note at any time. Interest on
each overdue amount will continue to accrue, as provided by the foregoing terms
of this paragraph, and will (to the extent permitted by applicable law) be
compounded monthly until the obligations of the Borrower in respect of the
payment of such overdue amount shall be discharged (whether before or after
judgment).

Any
deposits or other sums at any time credited by or due from the Lender to any of
the undersigned, or any endorser or guarantor hereof and any securities or
other property of  any of the
undersigned, or any such endorser or guarantor, in the possession of the
Lender, may at any and all times be held and treated as security for the
payment and performance of this Note and of any and all liabilities and
obligations, direct or indirect, absolute or contingent, due or to become due,
now existing or hereafter arising and whether or not evidenced by a writing of
any such endorser or guarantor to the Lender, and the Lender may apply or set
off such deposits or other sums at any time against any of the sums due hereunder
or of such liabilities or obligations of any endorser or guarantor, whether or
not the same have matured.

If
the Lender shall determine (which determination shall, upon notice thereof to
the Borrower be conclusive and binding on the Borrower) that the introduction
of or any change in or in the interpretation of any law, rule, regulation or
guideline, (whether or not having the force of law) makes it unlawful, or any
central bank or other governmental authority asserts that it is unlawful, for
the Lender to make, continue or maintain any LIBOR Rate Loan as, or to convert
any Loan into, a LIBOR Rate Loan of a certain duration, all LIBOR Rate Loans of
such type shall automatically convert into LIBOR-Reference Bank Loans at the
end of the then current Interest Periods with respect thereto or sooner, if
required by such law or assertion. For purposes of this Note, in the event of
such a conversion, all LIBOR-Reference Bank Rate Loans shall be treated (except
as to interest rate) as equivalent to a LIBOR Rate Loan of a similar amount and
LIBOR Rate Interest Period. For greater certainty, all provisions of this Note
relating to LIBOR Rate Loans shall apply equally to LIBOR-Reference Bank Loans,
including, but not limited to the manner in which LIBOR-Reference Bank Loans
are requested, continued, converted, the manner in which interest accrues, is
payable, principal payments are made, whether voluntary or involuntary, as well
as any penalties, increased costs or taxes associated with any of the
foregoing.

 -5-

 

 

If
the Lender shall have determined that (a) US dollar deposits in the
relevant amount and for the relevant LIBOR Rate Interest Period are not
available to the Lender in the London interbank market; (b) by reason of
circumstances affecting the Lender in the London interbank, adequate means do
not exist for ascertaining the LIBOR Rate applicable hereunder to LIBOR Rate
Loans of any duration; or (c) LIBOR no longer adequately reflects the
Lender’s cost of funding Loans, then, upon notice from the Lender to the
Borrower, all LIBOR Rate Loans shall automatically convert to LIBOR-Reference
Bank Loans.

In
addition to the LIBOR Rate Prepayment Fee, the Borrower agrees to reimburse the
Lender (without duplication) for any increase in the cost to the Lender, or
reduction in the amount of any sum receivable by the Lender, in respect, or as
a result of:  (a) any conversion or
repayment or prepayment of the principal amount of any LIBOR Rate Loans on a
date other than the scheduled last day of the LIBOR Rate Interest Period
applicable thereto, whether pursuant to the fifth paragraph or otherwise; (b) any
Loans not being made as LIBOR Rate Loans in accordance with the borrowing
request thereof; (c) any LIBOR Rate Loans not being continued as, or
converted into, LIBOR Rate Loans in accordance with the continuation/conversion
notice thereof, or (d) any costs associated with marking to market any
Hedging Obligations that (in the reasonable determination of the Lender) are
required to be terminated as a result of any conversion, repayment or
prepayment of the principal amount of any LIBOR Rate Loan on a date other than
the scheduled last day of the LIBOR Rate Interest Period applicable thereto,
whether pursuant to the fifth paragraph or otherwise. The Lender shall promptly
notify the Borrower in writing of the occurrence of any such event, such notice
to state, in reasonable detail, the reasons therefor and the additional amount
required fully to compensate the Lender for such increased cost or reduced
amount. Such additional amounts shall be payable by the Borrower to the Lender
within five days of its receipt of such notice, and such notice shall, in the
absence of manifest error, be conclusive and binding on the Borrower. The
Borrower understands, agrees and acknowledges the following: (i) the
Lender does not have any obligation to purchase, sell and/or match funds in
connection with the use of LIBOR Rate as a basis for calculating the rate of
interest on a LIBOR Rate Loan, (ii) the LIBOR Rate may be used merely as a
reference in determining such rate, and (iii) the Borrower has accepted
the LIBOR Rate as a reasonable and fair basis for calculating such rate, the
LIBOR Rate Prepayment Fee, and other funding losses incurred by the Lender. Borrower
further agrees to pay the LIBOR Rate Prepayment Fee and other funding losses,
if any, whether or not the Lender elects to purchase, sell and/or match funds.

If
on or after the date hereof the adoption of any applicable law, rule or
regulation or guideline (whether or not having the force of law), or any change
therein, or any change in the interpretation or administration thereof by any
governmental authority, central bank or comparable agency charged with the
interpretation or administration thereof, or compliance by the Lender with any request
or directive (whether or not having the force of law) of any such authority,
central bank or comparable agency:

(a)           shall subject the
Lender to any tax, duty or other charge with respect to its LIBOR Rate Loans or
its obligation to make LIBOR Rate Loans, or shall change the basis of taxation
of payments to the Lender of the principal of or interest on its LIBOR Rate
Loans or any 

 -6-
 

 

other amounts due under this agreement in respect of its LIBOR Rate
Loans or its obligation to make LIBOR Rate Loans (except for the introduction
of, or change in the rate of, tax on the overall net income of the Lender or
franchise taxes, imposed by the jurisdiction (or any political subdivision or
taxing authority thereof) under the laws of which the Lender is organized or in
which the Lender’s principal executive office is located); or

(b)           shall impose, modify
or deem applicable any reserve, special deposit or similar requirement
(including, without limitation, any such requirement imposed by the Board of
Governors of the Federal Reserve System of the United States) against assets
of, deposits with or for the account of, or credit extended by, the Lender or
shall impose on the Lender or on the London interbank market any other
condition affecting its LIBOR Rate Loans or its obligation to make LIBOR Rate
Loans;

and the result of any of
the foregoing is to increase the cost to the Lender of making or maintaining
any LIBOR Rate Loan, or to reduce the amount of any sum received or receivable
by the Lender under this Note with respect thereto, by an amount deemed by the
Lender to be material, then, within 15 days after demand by the Lender, the
Borrower shall pay to the Lender such additional amount or amounts as will
compensate the Lender for such increased cost or reduction.

If
any change in, or the introduction, adoption, effectiveness, interpretation,
reinterpretation or phase-in of, any law or regulation, directive, guideline,
decision or request (whether or not having the force of law) of any court,
central bank, regulator or other governmental authority affects or would affect
the amount of capital required or expected to be maintained by the Lender, or
person controlling the Lender, and the Lender determines (in its sole and
absolute discretion) that the rate of return on its or such controlling person’s
capital as a consequence of its commitments or the Loans made by the Lender is
reduced to a level below that which the Lender or such controlling person could
have achieved but for the occurrence of any such circumstance, then, in any
such case upon notice from time to time by the Lender to the Borrower, the
Borrower shall immediately pay directly to the Lender additional amounts
sufficient to compensate the Lender or such controlling person for such
reduction in rate of return. A statement of the Lender as to any such
additional amount or amounts (including calculations thereof in reasonable
detail) shall, in the absence of manifest error, be conclusive and binding on
the Borrower. In determining such amount, the Lender may use any method of
averaging and attribution that it (in its sole and absolute discretion) shall
deem applicable.

All
payments by the Borrower of principal of, and interest on, the LIBOR Rate Loans
and all other amounts payable hereunder shall be made free and clear of and
without deduction for any present or future income, excise, stamp or franchise
taxes and other taxes, fees, duties, withholdings or other charges of any
nature whatsoever imposed by any taxing authority, but excluding franchise
taxes and taxes imposed on or measured by the Lender’s net income or receipts
(such non-excluded items being called “Taxes”). In the event that any
withholding or deduction from any payment to be made by the Borrower hereunder
is required in respect of 

 -7-
 

 

any Taxes pursuant to
any applicable law, rule or regulation, then the Borrower will (a) pay
directly to the relevant authority the full amount required to be so withheld
or deducted; (b) promptly forward to the Lender an official receipt or
other documentation satisfactory to the Lender evidencing such payment to such
authority; and (c) pay to the Lender such additional amount or amounts as
is necessary to ensure that the net amount actually received by the Lender will
equal the full amount the Lender would have received had no such withholding or
deduction been required. Moreover, if any Taxes are directly asserted against
the Lender with respect to any payment received by the Lender hereunder, the
Lender may pay such Taxes and the Borrower will promptly pay such additional
amount (including any penalties, interest or expenses) as is necessary in order
that the net amount received by the Lender after the payment of such Taxes
(including any Taxes on such additional amount) shall equal the amount the
Lender would have received had not such Taxes been asserted. If the Borrower
fails to pay any Taxes when due to the appropriate taxing authority or fails to
remit to the Lender the required receipts or other required documentary
evidence, the Borrower shall indemnify the Lender for any incremental Taxes,
interest or penalties that may become payable by the Lender as a result of any
such failure.

The Borrower
absolutely and unconditionally agrees to reimburse the Lender, on demand,
whether or not all or any of the transactions contemplated by the Note are
ultimately consummated, for all its reasonable out-of-pocket expenses,
including but not limited to (a) the reasonable attorney’s fees and
disbursements of the Lender’s Special Counsel (as hereinafter defined) and
disbursements, incurred or expended in connection with the preparation,
negotiation and interpretation of this Note or any ancillary documentation
contemplated thereby, or any amendment thereof, or the making of loans, (b) all
attorneys’ fees and disbursements incurred and expended in connection with the
making of loans, and (c) all attorneys’ fees relating to the enforcement
of any obligations under this Note or the satisfaction of any indebtedness of
the Borrower hereunder, or in connection with any litigation proceeding or
dispute hereunder in any way related to the credit hereunder.

Each payment of
principal, interest or other sums payable on or in respect of this Note or the
indebtedness evidenced hereby shall be made by the Borrower directly to the
Lender in U.S. Dollars, for the account of the holder of this Note, at the
Lender’s Office, not later than 11:00 a.m., Boston time, on the due date
of such payment, and in immediately available and freely transferable funds.

All payments on or
in respect of this Note, the Guaranty (as hereinafter defined) or any other
document, instrument or agreement executed in connection herewith or therewith
(collectively, the “Loan Documents”) or the
indebtedness evidenced hereby shall be made to the holder of this Note without
recoupment, set-off or counterclaim and free and clear of and without any
deduction of any kind for any taxes, levies, imposts, duties, charges, fees,
deductions, withholdings, compulsory loans, restrictions or conditions of any
nature now or hereafter imposed or levied by any jurisdiction or any political
subdivision thereof or taxing or other authority therein unless the Borrower is
compelled by law to make such deduction or withholding. If any such obligation
is imposed upon the Borrower with respect to any amount payable by it hereunder
or under any of the other Loan Documents, the Borrower will pay to the Lender,
on the date on which such amount is due and payable hereunder or under such
other Loan Document, such additional amount in Dollars as shall be necessary to
enable the 

 -8-
 

 

Lender or any
holder hereof to receive the same net amount which the Lender or such
holder  would have received on such due
date had no such obligation been imposed upon the Borrower. The Borrower will
deliver promptly to the Lender certificates or other valid vouchers for all
taxes or other charges deducted from or paid with respect to payments made by
the Borrower hereunder or under such other Loan Document.

This Note
evidences the obligation of the Borrower (a) to repay the principal amount
of all Loans made by the Lender to the Borrower hereunder;  (b) to pay interest, as herein provided,
on the principal amount hereof remaining unpaid from time to time; and (c) to
pay other amounts which may become due and payable hereunder or under any other
Loan Document (collectively, the “Note
Obligations”). On the date hereof the Borrower shall pay to the Lender a
closing fee in the amount of $30,000. The Note Obligations, the obligations of
the Guarantors (as hereinafter defined) under the Guaranty (as hereinafter
defined) and the obligation of the Borrower and any Subsidiary to pay other
amounts which may become due and payable hereunder or under any other Loan
Document, including, without limitation, the LC Exposure, shall hereinafter be
referred to as the “Obligations”. The Borrower promises to pay all such
Obligations on the due dates thereof. The parties hereto hereby acknowledge and
agree that (a) all of the Obligations are guaranteed pursuant to the terms
of that certain Guaranty dated as of the date hereof from Bruker AXS Inc. (“AXS”),
a Delaware corporation, Bruker Daltonics Inc. (“Daltonics”), a Delaware
corporation and Bruker Optics Inc. (“Optics” and, collectively with AXS
and Daltonics, the “Guarantors”) to the Lender (as amended and in effect
from time to time, the “Guaranty”); and (b) all of the Obligations
are secured by (i) a pledge by the Borrower of 100% of the capital stock
of each of the Guarantors pursuant to a certain Stock Pledge Agreement dated as
of the date hereof between the Borrower and the Lender (as amended and in
effect from time to time, the “Borrower Pledge
Agreement”); (ii) a pledge by AXS of 100% of the capital stock of each
of its wholly-owned domestic Subsidiaries and 66% of the capital stock of each
of its non-U.S. Subsidiaries pursuant to a certain Stock Pledge Agreement dated
as of the date hereof between AXS and the Lender (as amended and in effect from
time to time, the “AXS Pledge Agreement”); (iii) a
pledge by Daltonics of 100% of the capital stock of each of its wholly-owned
domestic Subsidiaries and 66% of the capital stock of each of its non-U.S.
Subsidiaries pursuant to a certain Stock Pledge Agreement dated as of the date
hereof between Daltonics and the Lender (as amended and in effect from time to time,
the “Daltonics Pledge Agreement”); and (iv) (ii) a
pledge by Optics of 100% of the capital stock of each of its wholly-owned
domestic Subsidiaries and 66% of the capital stock of each of its non-U.S.
Subsidiaries pursuant to a certain Stock Pledge Agreement dated as of the date
hereof between Optics and the Lender (as amended and in effect from time to
time, the “Optics Pledge Agreement” and,
collectively with the Borrower Pledge Agreement, the AXS Pledge Agreement and
the Daltonics Pledge Agreement, the “Pledge
Agreements”).

No reference
herein to any collateral for this Note shall impair the obligations of the
Borrower, which are absolute, unconditional and irrevocable, to pay the
principal of and the interest on this Note and to pay all (if any) other
amounts which may become due and payable on or in respect of this Note or the
indebtedness evidenced hereby, strictly in accordance with the terms and the
tenor of this Note.

 -9-
 

 

For all purposes
of this Note, the following terms shall have the respective meanings set forth
below:

(a)  “Account Event”
means the failure of the Borrower and the Guarantors to maintain their primary
United States operating accounts with the Lender, and such failure continues
for three (3) Business Days after written notice of such failure has been
provided by the Lender to the Borrower.

(b)  “Business Day”
means (i) any day which is neither a Saturday or Sunday nor a legal
holiday on which commercial banks are authorized or required to be closed in
Boston, Massachusetts; (ii) when such term is used to describe a day on
which a borrowing, payment, prepayment or repayment is to be made in respect of
any LIBOR Rate Loan, any day which is (x) neither a Saturday or Sunday nor
a legal holiday on which commercial banks are authorized or required to be
closed in New York City; and (y) a London Banking Day; and (iii) when
such term is used to describe a day on which an interest rate determination is
to be made in respect of any LIBOR Rate Loan, any day which is a London Banking
Day.

(c)  “Demand Event”
means the occurrence of any of the following: 
an Insolvency Event, an Account Event or a Lien Event.

(d)  “Hedging
Contracts” means interest rate swap agreements, interest rate cap
agreements and interest rate collar agreements, or any other agreements or
arrangements entered into between the Borrower and the Lender and designed to
protect the Borrower against fluctuations in interest rates or currency
exchange rates.

(e)  “Hedging
Obligations” means, with respect to the Borrower, all liabilities of the
Borrower to the Lender under Hedging Contracts.

(f)   “holder” means the Lender in
possession of this Note or any other person who is at the time the lawful
holder in possession of this Note.

(g)  “Insolvency
Event” means (i) the Borrower or any of its Subsidiaries shall make an
assignment for the benefit of creditors, or admit in writing its inability to
pay or generally fail to pay its debts as they mature or become due, or shall
petition or apply for the appointment of a trustee or other custodian, liquidator
or receiver of the Borrower or any Subsidiary or of any substantial part of the
assets of the Borrower or any of its Subsidiaries or shall commence any case or
other proceeding relating to the Borrower or any of its Subsidiaries under any
bankruptcy, reorganization, arrangement, insolvency, readjustment of debt,
dissolution or liquidation or similar law of any jurisdiction, now or hereafter
in effect, or shall take any action to authorize or in furtherance of any of
the foregoing, or if any such petition or application shall be filed or any
such case or other proceeding shall be commenced against the Borrower or any of
its Subsidiaries and the Borrower or any of its Subsidiaries shall indicate its
approval thereof, consent thereto or acquiescence therein or such petition or
application shall not have been dismissed within forty-five (45) days following
the filing thereof; or (ii) a decree or order is entered appointing any
such trustee, custodian, liquidator or receiver or adjudicating the Borrower or
any of its Subsidiaries bankrupt or insolvent, or approving a petition in any
such case or other proceeding, or a decree or order for relief is entered in
respect of the Borrower or any Subsidiary of the Borrower in an involuntary
case under federal bankruptcy laws as now or hereafter constituted.

 -10-

 

 

(h)  “LC Exposure”
means the sum of (i) aggregate maximum face amount of all issued and
outstanding letters of credit issued by the Lender or any of its affiliates for
the account of the Borrower or any Subsidiary, plus (ii) all unpaid
reimbursement obligations owing by the Borrower or any such Subsidiary to the
Lender or any of its affiliates in respect of any drawing made on any letter of
credit issued by the Lender or any of its affiliates for the account of the
Borrower or any Subsidiary; plus (iii) all fees, costs and other expenses
owing by the Borrower or any of its Subsidiaries to the Lender or its
affiliates in respect of any letter of credit issued for the account of the
Borrower or such Subsidiary.

(i)   “Lender’s
Office” means the office of the Lender located at 28 State Street, Boston,
Massachusetts 02109.

(j)   “Lender’s
Special Counsel” means Bingham McCutchen LLP.

(k)  “LIBOR Lending
Rate” means, relative to any LIBOR Rate Loan to be made, continued or
maintained as, or converted into, a LIBOR Rate Loan for any LIBOR Rate Interest
Period, a rate per annum determined pursuant to the following formula:

	
  LIBOR Lending Rate =

  	
  LIBOR Rate

  
	
  (1.00 - LIBOR Reserve Percentage)

  

 

(l)   “LIBOR Rate”
means relative to any LIBOR Rate
Interest Period for LIBOR Rate Loans, the offered rate for deposits of U.S.
Dollars in an amount approximately equal to the amount of the requested LIBOR
Rate Loan for a term coextensive with the designated LIBOR Rate Interest Period
which the British Bankers’ Association fixes as its LIBOR rate as of 11:00 a.m.
London time on the day which is two London Banking Days prior to the beginning
of such LIBOR Rate Interest Period.

(m) “LIBOR
Rate Loan” means any Loan the rate of interest applicable to which is based
upon the LIBOR Rate.

(n)  “LIBOR Rate
Interest Payment Date” means relative to any LIBOR Rate Loan, having a
LIBOR Rate Interest Period of three months or less, the last Business Day of
such LIBOR Rate Interest Period, and as to any LIBOR Rate Lon having a LIBOR
Rate Interest Period longer than three months, each Business Day which is three
months, or a whole multiple thereof, after the first day of such LIBOR Rate
Interest Period and the last day of such LIBOR Rate Interest Period.

(o)  “LIBOR Rate
Interest Period” means, relative to any LIBOR Rate Loans, (i) initially,
the period beginning on (and including) the date on which such LIBOR Rate Loan
is made or continued as, or converted into, a LIBOR Rate Loan pursuant to the
terms of this Note and ending on (but excluding) the day which numerically
corresponds to such date one, two, three or six months thereafter (or, if such
month has no numerically corresponding day, on the last Business Day of such
month), in each case as the Borrower may select in its notice pursuant to the
third paragraph; and (ii) thereafter, each period commencing on the last
day of the next preceding LIBOR Rate Interest Period applicable to such LIBOR
Rate Loan and ending one, two, 

 -11-
 

 

three or six
months  thereafter, as selected by the
Borrower by irrevocable notice to the Lender not less than two Business Days
prior to the last day of the then current LIBOR Rate Interest Period with
respect thereto, provided, however, that (1) the Borrower shall not be
permitted to select LIBOR Rate Interest Periods to be in effect at any one time
which have expiration dates occurring on more than three different dates; (2) LIBOR
Rate Interest Periods commencing on the same date for LIBOR Rate Loans
comprising part of the same advance under this Note shall be of the same
duration; (3) LIBOR Rate Interest Periods for LIBOR Rate Loans in
connection with which the Borrower has or may incur Hedging Obligations with
the Lender shall be of the same duration as the relevant periods set forth
under the applicable Hedging Contracts; (4) if such LIBOR Rate Interest
Period would otherwise end on a day which is not a Business Day, such Interest
Period shall end on the next following Business Day unless such day falls in
the next calendar month, in which case such LIBOR Rate Interest Period shall
end on the first preceding Business Day; and (5) no LIBOR Rate Interest
Period may end later than the termination of this Note.

(p)  “LIBOR-Reference
Bank Lending Rate” means, relative to a LIBOR-Reference Bank Rate Loan for
any LIBOR Rate Interest Period, a rate per annum determined pursuant to the
following formula:

	
  LIBOR-Reference Bank Lending
  Rate =

  	
  LIBOR-Reference Bank Rate

  
	
  (1.00 - LIBOR Reserve Percentage)

  

 

(q)  “LIBOR-Reference
Bank Loan” means any Loan the rate of interest applicable to which is based
upon the LIBOR-Reference Bank Rate.

(r)   “LIBOR-Reference
Bank Rate” means relative to any LIBOR Rate Interest Period for
LIBOR-Reference Bank Loans, the rate for which deposits in U.S. Dollars are
offered by the Reference Banks to prime banks in the London interbank market in
an amount approximately equal to the amount requested LIBOR-Reference Bank Loan
at approximately 11:00 a.m., London time on the day that is two London
Banking Days prior to the beginning of such LIBOR Rate Interest Period. The
Lender will request the principal London office of each of the Reference Banks
to provide a quotation of its rate. If at least two such quotations are provided,
the rate for such date will be the arithmetic mean of the quotations. If fewer
than two quotations are provided as requested, the rate for such date will be
the arithmetic mean of the rates quoted by major banks in New York City
selected by the Lender, at approximately 11:00 a.m. New York City time for
loans in U.S. Dollars to leading European banks for such LIBOR Rate Interest
Period and in an amount approximately equal to the amount requested
LIBOR-Reference Bank Loan

(s)  “LIBOR Reserve
Percentage” means, relative to any day of any LIBOR Rate Interest Period
for LIBOR Rate Loans, the maximum aggregate (without duplication) of the rates
(expressed as a decimal fraction) of reserve requirements (including all basic,
emergency, supplemental, marginal and other reserves and taking into account
any transitional adjustments or other scheduled changes in reserve
requirements) under any regulations of the Board of Governors of the Federal
Reserve System (the “Board”) or other governmental authority having
jurisdiction with respect thereto as issued from time to time and then
applicable to assets or 

 -12-
 

 

liabilities
consisting of “Eurocurrency Liabilities”, as currently defined in Regulation D
of the Board, having a term approximately equal or comparable to such LIBOR
Rate Interest Period.

(t)   “Lien Event”
means that the Borrower or any Guarantor has either (i) granted to a
Person (other than the Lender) a lien, security interest or other encumbrance
on any of the Borrower’s or such Guarantor’s assets or other property located
in the United States (and, for the avoidance of doubt, the capital stock or
other equity interest of a Subsidiary of the Borrower or such Guarantor shall,
for purposes of this definition, be deemed located in the United States), or (ii) entered into or permit to exist any arrangement
or agreement (excluding the Note and the other Loan Documents) which directly
or indirectly prohibits the Borrower or any Guarantor from creating, assuming
or incurring any lien, security interest or other encumbrance upon its
properties, revenues or assets or those of any of its domestic Subsidiaries
whether now owned or hereafter acquired, or (iii) entered into any
agreement, contract or arrangement (excluding the Note and the other Loan
Documents) restricting the ability of any Subsidiary of the Borrower or
Guarantor to pay or make dividends or distributions in cash or kind to the
Borrower or such Guarantor, to make loans, advances or other payments of
whatsoever nature to the Borrower or such Guarantor, or to make transfers or
distributions of all or any part of its assets to the Borrower or such
Guarantor; in each case other than (x) restrictions
on specific assets which assets are the subject of purchase money security
interests, and (y) customary anti-assignment provisions contained in
leases and licensing agreements entered into by the Borrower or such Guarantor
in the ordinary course of its business and, in each of the cases set forth in (i) through
(iii) above, such event continues for three (3) Business Days
after written notice of such event has been provided by the Lender to the
Borrower.

(u)  “London
Banking Day” means a day on which dealings in US dollar deposits are
transacted in the London interbank market.

(v)  “Person”
means any individual, corporation, partnership, trust, unincorporated
association, business, or other legal entity, and any government or any
governmental agency or political subdivision thereof.

(w) “Prime Rate”
means the greater of (i) annual rate of interest from time to time
announced by the Lender as its base rate or its prime rate or (ii) the
rate equal to the weighted average of the published rates on overnight Federal
Funds transactions with members of the Federal Reserve System plus 1/2%. The
Prime Rate is a reference rate and does not necessarily represent the lowest or
best rate being charged to any customer. Changes in the rate of interest
resulting from changes in the Prime Rate shall take place immediately without
notice or demand of any kind.

(x)   “Reference
Banks” means four major banks in the London interbank market.

(y)  “Subsidiary”
means any corporation, association, trust or other business entity of which the
designated parent shall at any time own directly or indirectly through a
Subsidiary or Subsidiaries at least a majority (by number of votes) of the
outstanding Voting Stock.

(z)   “Voting Stock”
means stock or similar interests, of any class or classes (however designated),
the holders of which are at the time entitled, as such holders, to vote for the

 -13-
 

 

election of a
majority of the directors (or persons performing similar functions) of the
corporation, association, trust or other business entity involved, whether or
not the right so to vote exists by reason of the happening of a contingency.

The Borrower will
have the right to prepay at any time the unpaid principal of this Note in full
or in part, subject to the requirement that the Borrower compensate the Lender
for any funding losses and other costs incurred as a result of such prepayment
of a LIBOR Rate borrowing prior to the end of the interest period applicable to
such borrowing. There shall become and be absolutely due and payable by the
Borrower on the date of each prepayment of principal of this Note, and the
Borrower hereby promises to pay on the date of each such prepayment of this
Note, all of the unpaid interest accrued to such date on the amount of
principal of this Note being prepaid on such date and, with respect to any
principal which bears interest based upon the LIBOR Rate, any amounts required
to be paid pursuant to the fourth paragraph of this Note.

Any partial
payment of the indebtedness evidenced by this Note shall be applied by the
holder hereof (a) first, to the payment of all of the interest due and
payable on the unpaid principal of this Note at the time of such partial
payment, (b) then, to the payment of all (if any) other amounts (except
principal) due and payable at the time of such partial payment on or in respect
of this Note or the indebtedness evidenced by this Note, and (c) finally,
to the repayment or (as the case may be) the prepayment of the unpaid principal
of this Note due and payable at the time of such partial payment.

Upon demand by the
holder of this Note of the entire unpaid principal of this Note, all of the
interest accrued on the unpaid principal of this Note and all (if any) other
amounts payable on or in respect of this Note or the indebtedness evidenced
hereby (without regard to the length of any interest period in effect), the
entire unpaid principal of this Note, all of the interest accrued on the unpaid
principal of this Note and all (if any) other amounts payable on or in respect
of this Note or the indebtedness evidenced hereby (without regard to the length
of any interest period in effect), shall forthwith become and be due and
payable to the holder of this Note without presentment, further demand,
protest, notice of protest or any other formalities of any kind, all of which
are hereby expressly and irrevocably waived by the Borrower. In addition, if
demand hereunder has not been made prior to the occurrence of a Demand Event,
in the event of any such Demand Event, all outstanding amounts hereunder shall
become immediately due and payable automatically and without any requirement of
notice from the Lender.

All computations
of interest payable as provided in this Note shall be made by the holder hereof
on the basis of the actual number of days elapsed divided by (a) in the
case of LIBOR Rate Loans and LIBOR Advantage Loans, 360 and (b) in the
case of Prime Rate Loans, 365. The holder of this Note shall determine the
Prime Rate in effect from time to time. Any change in the Prime Rate shall, for
all purposes of this Note, become effective on, and from the beginning of, the
day on which such change shall first be made public by the Lender in accordance
with the Lender’s usual practice.

If any sum would,
but for the provisions of this paragraph, become due and payable on or in
respect of this Note or the indebtedness evidenced hereby on a day which is not
a Business 

 -14-
 

 

Day, then such sum
shall become due and payable on the Business Day next succeeding the day on
which such sum would otherwise have become due and payable hereunder, and
interest payable hereunder to the holder hereof shall be adjusted by the holder
hereof accordingly.

The failure of the
holder of this Note to exercise all or any of its rights, remedies, powers or
privileges hereunder in any instance shall not constitute a waiver thereof in
that or in any other instance.

The Borrower
hereby irrevocably waives notice of acceptance, presentment, notice of
nonpayment, protest, notice of protest, suit and all other conditions precedent
in connection with the delivery, acceptance, collection and/or enforcement of
this Note or any collateral or security therefor. The Borrower hereby
absolutely and irrevocably consents and submits to the jurisdiction of the
courts of the Commonwealth of Massachusetts and of any Federal Court located in
the said Commonwealth in connection with any actions or proceedings brought
against such Borrower by the holder hereof arising out of or relating to this
Note.

The Borrowers
represents and warrants to the Lender that: (a) the Borrower is a
corporation duly organized, validly existing and in good standing under the
laws of the state of Delaware; (b) the Borrower has adequate corporate
power and authority and full legal right to carry on the business in which it
is presently engaged and will be engaged upon consummation of the transactions
contemplated hereby; (c) all necessary corporate action has been taken to
execute and deliver this Note and the other Loan Documents to which the
Borrower is a party, to make the borrowings hereunder and to perform all of its
obligations hereunder and under the other Loan Documents; and (d) as of
the date hereof no Lien Event has occurred and is continuing.

The Borrower agrees that
to the extent demand has not been made hereunder, the Borrower will deliver to
the Lender the following:  (a) within
120 days after the end of each fiscal year of the Borrower, a consolidated and
consolidating balance sheet of the Borrower and its Subsidiaries as at the end
of such fiscal year, and the related consolidated and consolidating statements
of income or operations, shareholders’ equity and cash flows for such fiscal
year, setting forth in each case in comparative form the figures for the
previous fiscal year, all in reasonable detail and prepared in accordance with
generally accepted accounting principles, with such consolidated statements
audited and accompanied by a report and opinion of an accounting firm of
nationally recognized standing, which report and opinion shall be prepared in
accordance with generally accepted auditing standards and applicable securities
laws and shall not be subject to any “going concern” or like qualification or
exception or any qualification or exception as to the scope of such audit or
with respect to the absence of any material misstatement; (b) within 60
days after the end of each fiscal quarter of each fiscal year of the Borrower,
a consolidated and consolidating balance sheet of the Borrower and its
Subsidiaries as at the end of such fiscal quarter, and the related consolidated
and consolidating statements of income or operations, shareholders’ equity and
cash flows for such fiscal quarter and for the portion of the Borrower’s fiscal
year then ended, setting forth in each case in comparative form the figures for
the corresponding fiscal quarter of the previous fiscal year and the
corresponding portion of the previous fiscal year, all in reasonable detail,
certified by the chief executive officer, chief financial officer, treasurer or
controller of the Borrower as fairly presenting the financial condition,
results of operations, shareholders’ equity and cash flows of the Borrower 

 -15-
 

 

and its Subsidiaries in accordance with
generally accepted accounting principles, subject only to normal year-end audit
adjustments and the absence of footnotes; and (c) promptly after the same
are available, copies of all annual, regular, periodic and special reports
(including, without limitation, copies of the Borrower’s 10-K and 10-Q)
and registration statements which the Borrower may file or be required to file
with the SEC under Section 13 or 15(d) of the Securities Exchange Act
of 1934. In addition, the Borrower agrees to provide the Lender with immediate
written notice in the event the Borrower, any Guarantor or any Subsidiary has
defaulted under any material contract or agreement, or any agreement evidencing
any indebtedness or other borrowed money, together with the details of such
default.

The Borrower
hereby agrees, at the Borrower’s own expense, to execute and deliver, from time
to time, any and all further, or other, instruments, and to perform such acts,
as the Lender may reasonably request to effect the transactions contemplated by
this Note and to provide to the Lender the benefits of all rights, authorities
and remedies conferred upon the Lender by the terms of this Note.

The Borrower shall
use the proceeds of the loans made by the Lender to the Borrower pursuant to
this Note solely to finance all or a portion of the purchase of the capital
stock of Optics and for general corporate and working capital purposes. No
portion of this Loan is to be used for the purpose of purchasing or carrying
any “margin stock” or “margin security” as such terms are used in Regulations U
and X of the Board of Governors of the Federal Reserve System (2 C.F.R. Parts
221 and 224).

This
Note may be assigned by the Lender, provided, so long as no demand has been
hereunder (including the occurrence of a Demand Event), the Lender shall first
obtain the prior written consent of the Borrower, which consent shall not be
unreasonably withheld or delayed. Anything contained in this Note to the
contrary notwithstanding, the Lender may at any time pledge all or any portion
of its interest and rights under any of the Loan Documents (including all or
any portion of this Note) to any of the twelve Federal Reserve Banks organized
under §4 of the Federal Reserve Act, 12 U.S.C. §341. No such pledge or the enforcement
thereof shall release the pledgor Lender from its obligations hereunder or
under any of the other Loan Document. The Borrower shall not be permitted to
assign any of its rights and obligations hereunder to any other Person.

All agreements
among the Borrower and the Lender are hereby expressly limited so that in no
contingency or event whatsoever, shall the amount paid or agreed to be paid to
Lender for the use or the forbearance of the indebtedness evidenced hereby
exceed the maximum permissible under applicable law. As used herein, the term “applicable
law” shall mean the law in effect as of the date hereof; provided, however,
that in the event there is a change in the law which results in a higher
permissible rate of interest, then this Note shall be governed by such new law
as of its effective date. In this regard, it is expressly agreed that it is the
intent of the Borrower and Lender in the execution, delivery and acceptance of
this Note to contract in strict compliance with the laws of the Commonwealth of
Massachusetts from time to time in effect. If, under or from any circumstances
whatsoever, fulfillment of any provision hereof or any of the Loan Documents at
the time of performance of such provision shall be due, shall involve
transcending the limit of such validity prescribed by applicable law, then the
obligation to be fulfilled shall automatically be reduced to the limits of such
validity, and if under or from 

 -16-
 

 

circumstances
whatsoever Lender should ever receive an interest an amount which would exceed
the highest lawful rate, such amount which would be excessive interests shall
be applied to the reduction of the principal balance evidenced hereby and not
to the payment of interest. This provision shall control every other provision
of all agreements among the Borrower and the Lender.

The Borrower
hereby grants to the Lender, a continuing lien, security interest and right of
setoff as security for all liabilities and obligations to the Lender, whether
now existing or hereafter arising, upon and against all deposits, credits,
collateral and property, now or hereafter in the possession, custody,
safekeeping or control of the Lender or any entity under the control of the
Lender or any affiliate of the Lender and its respective successors and assigns
or in transit to any of them. At any time, without demand or notice (any such
notice being expressly waived by the Borrower), the Lender may setoff the same
or any part thereof and apply the same to any liability or obligation of the
Borrower even though unmatured and regardless of the adequacy of any other
collateral securing the Loan. ANY AND ALL RIGHTS TO REQUIRE THE LENDER TO
EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT ANY OTHER COLLATERAL WHICH SECURES
THE LOAN PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS,
CREDITS OR OTHER PROPERTY OF THE BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND
IRREVOCABLY WAIVED.

The Borrower
agrees to indemnify and hold harmless the Lender and its affiliates from and
against any and all claims, actions and suits whether groundless or otherwise,
and from and against any and all liabilities, losses, damages and expenses of
every nature and character arising out of this Note or any of the other Loan
Documents or the transactions contemplated hereby including, without
limitation, (a) any actual or proposed use by the Borrower or any of its
Subsidiaries of the proceeds of any of the Loans or any letter of credit issued
for the account of the Borrower or any Subsidiary, (b) the reversal or
withdrawal of any provisional credits granted by the Lender upon the transfer
of funds from lock box, bank agency, concentration accounts or otherwise under
any cash management arrangements with the Borrower or any Subsidiary or in
connection with the provisional honoring of funds transfers, checks or other
items, (c) the Borrower or any of its Subsidiaries entering into or
performing this Note or any of the other Loan Documents or (d) with
respect to the Borrower and its Subsidiaries and their respective properties
and assets, the violation of any environmental law, the presence, disposal,
escape, seepage, leakage, spillage, discharge, emission, release or threatened
release of any hazardous substances or any action, suit, proceeding or
investigation brought or threatened with respect to any hazardous substances
(including, but not limited to, claims with respect to wrongful death, personal
injury or damage to property), in each case including, without limitation, the
reasonable fees and disbursements of counsel and allocated costs of internal
counsel incurred in connection with any such investigation, litigation or other
proceeding, but excluding all such liabilities to the extent such liabilities
arose from the gross negligence, bad faith or willful misconduct of the otherwise
indemnified Person. In litigation, or the preparation therefore, the Lender and
its affiliates shall be entitled to select their own counsel and, in addition
to the foregoing indemnity, the Borrower agrees to pay promptly the reasonable
fees and expenses of such counsel. If, and to the extent that the obligations
of the Borrower under this paragraph  are
unenforceable for any reason, the Borrower hereby agrees to make the maximum
contribution to the payment in satisfaction of such obligations which is 

 -17-
 

 

permissible under
applicable law. The covenants contained in this paragraph shall survive payment
or satisfaction in full of all other Obligations.

This Note is
intended by the parties as the final, complete and exclusive statement of the
transactions evidenced by this Note. All prior or contemporaneous promises,
agreements and understandings, whether oral or written, are deemed to be
superceded by this Note, and no party is relying on any promise, agreement or
understanding not set forth in this Note. This Note may not be amended or
modified except by a written instrument describing such amendment or
modification executed by the Borrower and the Lender.

Except
as otherwise expressly provided in this Note, all notices and other
communications made or required to be given pursuant to this Note or the other
Loan Documents shall be in writing and shall be delivered in hand, mailed by
United States registered or certified first class mail, postage prepaid, sent
by overnight courier, or sent by telegraph, telecopy, facsimile or telex and
confirmed by delivery via courier or postal service, addressed as follows:  (a) if to the Borrower, at 40 Manning
Road, Billerica, Massachusetts  01821,
Attention:  William J. Knight, Chief
Financial Officer, or at such other address for notice as the Borrower shall
last have furnished in writing to the Person giving the notice and (b) if
to the Lender, at 28 State Street, Boston, Massachusetts  02109, Attention:  Nathan E. Pusey, Senior Vice President, or at
such other address for notice as the Lender shall last have furnished in
writing to the Person giving the notice. Any such notice or demand shall be
deemed to have been duly given or made and to have become effective (i) if
delivered by hand, overnight courier or facsimile to a responsible officer of
the party to which it is directed, at the time of the receipt thereof by such
officer or the sending of such facsimile and (ii) if sent by registered or
certified first-class mail, postage prepaid, on the third Business Day following
the mailing thereof.

Upon receipt of an
affidavit of an officer of the Lender as to the loss, theft, destruction or
mutilation of the Note and, in the case of any such loss, theft, destruction or
mutilation, upon cancellation of such Note, the Borrower will issue, in lieu
thereof, a replacement note in the same principal amount thereof and otherwise
of like tenor.

THE BORROWER
HEREBY WAIVES ITS RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM
ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS NOTE OR ANY OF THE OTHER
LOAN DOCUMENTS, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR THEREUNDER OR THE
PERFORMANCE OF SUCH RIGHTS AND OBLIGATIONS OR ANY COURSE OF CONDUCT, COURSE OF
DEALINGS, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY, INCLUDING
ANY COURSE OF CONDUCT, COURSE OF DEALINGS, STATEMENTS OR ACTIONS OF THE LENDER
RELATING TO THE ADMINISTRATION OF THE LOANS OR ENFORCEMENT OF THE LOAN
DOCUMENTS AND AGREES THAT IT WILL NOT SEEK TO CONSOLIDATE ANY SUCH ACTION WITH
ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. Except
as prohibited by law, the Borrower hereby waives any right it may have to claim
or recover in any litigation referred to in the preceding sentence any special,
exemplary, punitive or consequential damages or any damages other than, or in
addition to, actual damages. The Borrower (a) certifies that no
representative, agent or attorney of the Lender has represented, expressly or
otherwise, that the 

 -18-
 

 

Lender would not,
in the event of litigation, seek to enforce the foregoing waivers and (b) acknowledges
that the Lender has been induced to enter into this Note and the other Loan
Documents to which it is a party by, among other things, the waivers and
certifications contained herein.

This Note
is intended to take effect as a sealed instrument. This Note and the
obligations of the Borrower hereunder shall be governed by and interpreted and
determined in accordance with the laws of the Commonwealth of Massachusetts.

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

 -19-

 

 

IN
WITNESS WHEREOF, this DEMAND PROMISSORY NOTE
has been duly executed by the undersigned, BRUKER BIOSCIENCES
CORPORATION, as of the day and in the year first above written.

	
  

  	
   

  	
  The Borrower:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BRUKER BIOSCIENCES CORPORATION

  
	
   

  	
   

  	
   

  
	
  Witness:

  	
  /s/ Richard M. Stein

  	
   

  	
  By:

  	
  /s/ Frank H. Laukien

  
	
   

  	
  Title: President

  
	
   

  	
   

  
	
   

  	
   

  
	
  ACCEPTED:

  	
   

  
	
   

  	
   

  
	
  CITIZENS BANK OF MASSACHUSETTS

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Nathan E. Pusey

  	
   

  	
   

  
	
  Title: Senior Vice President

  	
   

  
							

 

 -20-
 

 

 

REPAYMENTS
OF PRINCIPAL

Advances and
payments of principal of this Note were made on the dates and in the amounts
specified below:

	
   

  	
   

  	
  Amount

  	
   

  	
  Amount of

  	
   

  	
  Balance of

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  and Type

  	
   

  	
  Principal

  	
   

  	
  Principal

  	
   

  	
  Notation

  	
   

  
	
  Date

  	
   

  	
  of Loan

  	
   

  	
  Repaid

  	
   

  	
  Unpaid

  	
   

  	
  Made by:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 -21-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}]]