Document:

Exhibit 10.2

 Exhibit 10.2 
 COMMERCIAL PAPER 
 ISSUING AND PAYING AGENT AGREEMENT 
 (Book-Entry and Obligations 
 Using
DTC Facilities 
 and Physical Notes) 
 THIS AGREEMENT (“Agreement”) dated as of May 5, 2006 (“Effective Date”) is entered into by and between Danaher Corporation (the “Issuer”) with offices at 2099 Pennsylvania Avenue, N.W., 12th Floor,
Washington, D.C. 20006 and Deutsche Bank Trust Company Americas (the “Bank”) with offices at 60 Wall St, 27th Floor, New York, NY 10005. 
 Section 1. Appointment 
 The Issuer requests and authorizes the Bank to act as agent for the Issuer in connection with the issuance and payment of unsecured (a) book-entry
obligations (each an “Obligation” and collectively the “Obligations”) as evidenced by Master Note Certificate(s) (the “Note Certificate(s) “) and (b) bearer short term promissory notes of the Issuer (each a
“Note” and collectively the “Notes”), in the case of (a), in the form appended hereto in Exhibit A-1 and in the case of (b), in the form to be appended hereto as Exhibit A-2 at such time as bearer short term promissory notes of
the Issuer are to be issued. The Bank agrees to act as such agent for the Issuer subject to the provisions of this Agreement commencing on the Effective Date shown above. 
 Insofar as the context requires, all references herein to an Issuer’s “Obligation” shall be deemed to include the Issuer’s Note, and all references herein to an Issuer’s
“Obligations” or “Book-entry Obligations” shall be deemed to include the Issuer’s Notes. 
 Section 2. Certificate
Agreement 
 The Issuer acknowledges that the Bank has previously entered into a commercial paper certificate agreement (as amended or
otherwise modified and currently in effect, the “Certificate Agreement”) which copy is appended hereto as Exhibit E, with the Depository Trust Company (DTC) and the Issuer also acknowledges that the continuation in effect of the
Certificate Agreement is a necessary prerequisite to the Bank’s providing services related to issuance of the Obligations. The Issuer understands and agrees that the Certificate Agreement shall supplement the provisions of this Agreement and
that the Issuer and the provisions of this Agreement are subject to the provisions of the Certificate Agreement. 

 Page 2 
 Section 3. Letter of Representations; Resolutions; Authorized Officers 
 The Issuer will, prior to the Effective
Date, deliver to the Bank an executed Letter of Representations (the “Representations”), a copy of which is appended hereto as Exhibit F. Further, the Issuer understands and agrees that such Representations when executed by the Issuer, the
Bank and DTC shall supplement the provisions of this Agreement and that the Issuer, the Bank, and DTC shall be bound by the provisions of the Representations. The Bank and the Issuer agree to comply with the relevant portions of DTC’s
Commercial Paper Issuing and Paying Agent Manual, and the DTC Same Day Settlement System Rules (collectively the “DTC Rules”). 
 The Issuer has delivered to the Bank (a) a certified copy of the resolutions adopted by the Board of Directors of the Issuer concerning the issuance of Obligations by the Issuer (the “Resolutions”), which copy is appended
hereto as Exhibit B, and (b) a certified original of the Issuer’s certificate of incumbency (the “Certificate of Incumbency”), containing the name, title, and true signature of those officers of the Issuer authorized by the
Resolutions to take action with respect to the Obligations (the “Authorized Officers”), which certificate is appended hereto as Exhibit C. The Issuer agrees to provide the Bank with revised certified Resolutions and/or Certificates of
Incumbency when and as required by changes in authorization of personnel. 
 Section 4. Authorized Persons 
 The Issuer authorizes the Bank to accept and to execute Instructions, as defined in and given pursuant to Section 6 hereof by any one of the
employees and/or Agents (defined as sales agents or dealers authorized by a separate agreement between the Issuer and its sales agents or dealers) of the Issuer who are designated in a writing that is signed by the requisite number of Authorized
Officers. Such designated employees or Agents shall be hereinafter collectively referred to as “Authorized Persons”. The initial written designation of Authorized Person(s) is appended hereto as Exhibit D. The Issuer agrees to provide the
Bank with revised written designations in the form of Exhibit D when and as required by changes in authorization or personnel. 
 Section 5. Note
Certificates 
  

	 	(X)	Book entry Obligations: 

 The Issuer will, prior to
the Effective Date, deliver to the Bank a Note Certificate evidencing Obligations issued, such Note Certificate bearing the manual or facsimile signatures of the requisite number of Authorized Officers and specifying the date of issuance, the full
legal name of the Issuer, the name of the state in which the Issuer is incorporated, and the name of the Bank, acting as paying agent for the Issuer, in each case the Note Certificate being registered in the name of Cede & Co., a nominee of
DTC. 

 Page 3 
  

	 	(Y)	Physical Notes and Signature Stamps: 

 For use as
described in Section 7 hereof, the Issuer will, at its election, (a) deliver to the Bank a supply of the Issuer’s sequentially numbered, blank Notes bearing the manual or facsimile signatures of the requisite number of Authorized
Officers and having spaces to show the face or principal amount, payee, date of issue, maturity date and amount of interest (if an interest bearing Note), and/or (b) authorize the Bank to use the Bank’s commercial paper universal note
stock, which has spaces to show the face or principal amount, payee, date of issue, maturity date, amount of interest (if an interest bearing Note) and signature(s) of the Authorized Officers. If the Issuer elects (b), or if the Notes described in
(a) do not bear such signature(s) when delivered to the Bank, then the Issuer will, at its election, deliver to the Bank for each signature required to be placed on the Notes either an electronic image of the requisite signature or a stamp
bearing the facsimile signature of an Authorized Officer. 
  

	 	(Z)	Book Entry Obligations, Physical Notes and Signature Stamps: 

 Any Obligation (as evidenced by the Note Certificate or Note bearing the manual or authorized facsimile signature of an Authorized Officer) shall, upon the Bank’s issuance of such Obligation on behalf of the
Issuer, bind the Issuer notwithstanding that such Authorized Officer shall have died or shall have otherwise ceased to hold office on the date such Obligation is issued by the Bank. Furthermore, the Issuer agrees that the Bank shall have no duty or
responsibility to determine the genuineness of the facsimile and/or manual signatures appearing on the Note Certificate(s), Notes or stamps but the foregoing shall not excuse the Bank from examining, and the Bank shall examine, its signature cards
to determine that signers are authorized and their signatures do not appear on their face to be incorrect or incomplete. 
 Section 6.
Instructions 
 The term “Instructions” shall mean a communication, purporting to be from an Authorized Officer or
Authorized Person, in the form of either (a) a written notice including those transmitted through facsimile transmittal equipment; (b) a telephone call; and/or (c) a transmission through an instruction and reporting communication
service (“Noteline Direct”) offered by the Bank pursuant to Section 10 hereof, in each case received by the Bank at the address specified in Section 15 prior to 1:00 p.m. New York time on the day on which the Instructions are to
be operative, which shall be a day the Bank is open for business. 

 Page 4 
 If the Bank, at its option, acts upon Instructions transmitted after 1:00 p.m. New York time on the day on which the Instructions are to be operative, the Issuer understands and agrees that (a) such Instructions
shall be acted upon, on a best efforts basis, by the Bank pursuant to the custom and practice of the commercial paper market, and (b) the Bank makes no representations or warranties that the issuance and delivery of any Note or Obligation
pursuant to Section 7 hereof shall be completed prior to the close of business on the issue date specified in the Instructions. 
 Any
Instructions given by telephone shall be confirmed to the Bank in a writing purporting to be from an Authorized Officer or Authorized Person prior to 1:00 p.m. New York time on the day on which such Instructions are to be operative. In the absence
of the Bank’s timely receipt of such written confirmation or in the event the Bank acts upon Instructions received after 1:00 p.m. New York time on the day on which the Instructions are to be operative, the Issuer understands and agrees that
the Instructions given by telephone or received after the aforementioned 1:00 p.m. New York time, as understood by the Bank, shall be the true and controlling Instructions for all purposes of this Agreement. 
 Notwithstanding anything to the contrary in this Section 6, the Issuer acknowledges that the Bank may act upon the Instructions without any duty to
make any inquiry regarding the genuineness of such Instructions. 
 Section 7. Issuance 
  

	 	(X)	Book Entry Obligations: 

 The Bank’s sole
duties in connection with the issuance of the Obligations when the Issuer delivers the Note Certificate(s) to the Bank in the form described in Section 5(X) herein, shall be as follows: 
  

	 	(a)	to hold Note Certificates in safekeeping; 

  

	 	(b)	to assign to each Instruction received from the Issuer a CUSIP number as specified in and in accordance with the CUSIP number assignment received by the Bank from the Issuer;

  

	 	(c)	to cause to deliver an Obligation on behalf of the Issuer upon receipt of the related Instructions from the Issuer, or its designated agent(s), as to the face or principal amount,
net dollar amount, date of issue, maturity date, interest rate (if any), and amount of interest due at maturity (if an interest bearing 

 Page 5 
 Obligation), by way of data entry or data transfer to the DTC Same Day Funds Settlement System (“SDFS”), and to receive from SDFS a confirmation receipt that such delivery was effected; and 
  

	 	(d)	to credit the net proceeds of all deliveries of the Obligations to the Issuer’s account with the Bank (Account No. 00447400) under advice to the Issuer at the address
specified in Section 15 hereof. 

  

	 	Y.	Physical Notes: 

 The Bank’s sole duties in
connection with the issuance of the Notes if the Issuer delivers a supply of the Issuer’s blank Notes to the Bank or uses the Bank’s commercial paper universal note stock pursuant to Section 5(Y) hereof shall be as follows:

  

	 	(a)	to hold the blank Notes in safekeeping, pending receipt of the Issuer’s Instructions; 

  

	 	(b)	to complete each Note pursuant to the Instructions as to the face or principal amount, net dollar amount, payee (which shall be “BEARER” unless otherwise specified in the
Instructions), date of issue, maturity date, interest rate (if any) and amount of interest due at maturity (if an interest bearing Note); 

  

	 	(c)	to cause a duly authorized officer or duly authorized employee of the Bank to countersign each Note for purposes of authentication of the Note only; 

  

	 	(d)	to deliver the Notes in accordance with the related Instructions (i) by hand, against receipt for payment or (ii) as otherwise provided in the related Instructions; and

  

	 	(e)	to credit the net proceeds of all deliveries of Notes to the Issuer’s account with the Bank (Account No. 00447400) under advice to the Issuer at the address specified in
Section 15 hereof. 

 The Bank’s additional duties in connection with the issuance of the Notes when the Issuer
delivers facsimile signature stamps to the Bank pursuant to Section 5(Y) hereof shall be as follows: 
  

	 	(f)	to hold the facsimile signature stamps delivered pursuant to Section 5(Y) hereof in safekeeping pending receipt of the Issuer’s Instructions; and 

 Page 6 
  

	 	(g)	to apply the facsimile signature stamp(s) to the Notes pursuant to the Instructions. 

  

	 	Z.	Book Entry Obligations and Physical Notes: 

 The
Issuer acknowledges that pursuant to the custom and practice of the commercial paper market, the delivery or mailing of an Obligation against payment of the net amount of the Obligation (i.e., the principal amount of the Obligation less the discount
specified in the Instructions or the principal amount of an interest bearing Obligation) and the actual receipt of payment thereof are not simultaneous transactions. 
 Therefore, whenever the Instructions direct the Bank to deliver any Obligation against payment, the Bank is authorized to and will deliver such Obligation to the party specified in the Instructions and hold as receipt
a confirmation copy generated by SDFS (in the case of Book Entry transactions), or (a) the receipt of the party specified in the Instructions or (b) the United States Post Office’s registered mail (both (a) and (b) in the
case of physical Notes) in lieu of immediate payment by the purchaser of the Obligation (the “Purchaser”). The Issuer also acknowledges that pursuant to the custom and practice of the commercial paper market, the Purchaser is obligated to
settle in immediately available funds at or before the close of business on the Issue Date specified on the Obligation. The Issuer understands and agrees that whenever the Bank delivers an Obligation against receipt of funds as set forth above, the
Issuer and not the Bank shall bear the risk of the Purchaser’s failure to remit the net amount of the Obligation purchased, and of the loss or theft of Notes after such Notes are placed in the United States mail. 
 The Bank shall have no duty or responsibility to make any transfer of the proceeds of the sale of the Issuer’s Obligations, or to advance any monies
or effect any credit with respect to such proceeds or transfers unless and until the Bank has actually received the proceeds of the sale of the Obligations. Upon such receipt, the Bank shall immediately credit the Issuer’s account with the Bank
(Account No. 00447400) with such proceeds unless at the time of such crediting, the Issuer has advised the Bank, in writing, that the receipt of such proceeds is subject to reversal or cancellation. If the Bank, at its sole option, effects any
such transfer that results in an overdraft in any account of the Issuer, the amount of such overdraft shall be considered as a loan to the Issuer, and the Issuer agrees to pay the Bank on demand the amount of such loan together with interest thereon
at the rate customarily charged by the Bank on similar loans. 

 Page 7 
 Section 8. Payment 
 Bank’s sole duties in connection with payment of the Obligations shall be, upon
presentment at maturity of an issued Obligation, to pay the principal amount of a discounted Obligation or principal plus interest of an interest-at-maturity Obligation to the party appearing to be entitled thereto, and to debit the Issuer’s
account with the Bank (Account No. 00447400) for such amount under advice to the Issuer at the address specified in Section 15 hereof. 
 The Bank shall have no obligation to pay, at maturity, the amount referred to in this Section 8 unless sufficient funds have been received by the Bank in collected funds. If the Bank, at its sole option, makes any such payment that
results in an overdraft in any account of the Issuer, the amount of such overdraft shall be considered a loan to the Issuer, and the Issuer agrees to pay the Bank on demand the amount of such loan together with interest thereon at the rate
customarily charged by the Bank on similar loans. 
 Section 9. United States Dollars 
 The Issuer agrees that the Obligations issued or presented hereunder shall be denominated in United States dollars. The Issuer further agrees that payment
of any and all amounts due pursuant to the provisions of this Agreement shall be made solely in United States dollars. 
 Section 10. Noteline
Direct 
 The Issuer is granted a personal, non-transferable and non-exclusive right to use the instruction and reporting
communication service Noteline Direct to transmit through the Noteline Direct system Instructions made pursuant to Section 6 hereof. The Issuer may, by separate agreement between the Issuer and one or more of its Agents, authorize the Agent (in
each case other than the Bank) to directly access Noteline Direct for the purposes of transmitting Instructions to the Bank or obtaining reports with respect to the Obligations. 
 The Issuer acknowledges that (a) some or all of the services utilized in connection with Noteline Direct are furnished by Financial Sciences
Corporation (“FSC”), (b) Noteline Direct is provided to the Issuer “AS IS” without warranties or representations of any kind whatsoever by FSC or the Bank, and (c) Noteline Direct is proprietary and confidential
property disclosed to the Issuer in confidence and only on the terms and conditions and for purposes set forth in this Agreement. 
 By this
Agreement, the Issuer acquires no title, ownership or sublicensing rights whatsoever in Noteline Direct or in any trade secret, trademark, copyright or patent of the Bank or FSC now or to become applicable to Noteline Direct. The Issuer may not
transfer, sublicense, assign, rent, lease, convey, modify, translate, convert to a programming language, decompile, disassemble, recirculate, republish or redistribute Noteline Direct for any purpose without the prior written consent of the Bank
and, where necessary FSC. 

 Page 8 
 In the event (a) any action is taken or threatened which may result in a disclosure or transfer of Noteline Direct or any part thereof, other than as authorized by this Agreement, or (b) the use of any trademark, trade name,
service mark, service name, copyright or patent of the Bank or FSC by the Issuer amounts to unfair competition, or otherwise constitutes a possible violation of any kind, then the Bank and/or FSC shall have the right to take any and all action
deemed necessary to protect their rights in Noteline Direct, and to avoid the substantial and irreparable damage which would result from such disclosure, transfer or use, including the immediate termination of the Issuer’s right to use Noteline
Direct. 
 To permit the use of Noteline Direct to issue Instructions and/or obtain reports with respect to the Obligations, the Bank will
supply the Issuer with an identification number and initial passwords. From time to time thereafter, the Issuer may change its passwords directly through Noteline Direct. The Issuer will keep all information relating to its identification number and
passwords strictly confidential and will be responsible for the maintenance of adequate security over its customer identification number and passwords. For security purposes, the Issuer should change its passwords frequently (at least once a year).

 Instructions transmitted over Noteline Direct and received by the Bank pursuant to Section 6 hereof accompanied by the Issuer’s
identification number and the passwords, shall be deemed conclusive evidence that such Instructions are correct and complete and that the issuance or redemption of the Obligation(s) directed thereby has been duly authorized by the Issuer.

 Section 11. Representations and Warranties of the Issuer 
 The Issuer represents and warrants as follows: 
  

	 	(a)	This Agreement and the Obligations have been duly authorized and this Agreement when executed and delivered and the Obligations when issued in accordance with the applicable
Instructions, will be valid and binding obligations of the Issuer, enforceable against the Issuer in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws of general
applicability relating to or affecting creditors’ rights and to general equity principles; 

  

	 	(b)	This Agreement and the consummation of the transactions herein contemplated will not (i) result in a breach of any of the terms or provisions of, or constitute a default under,
any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument for money borrowed to which the Issuer is a party or by which the Issuer 

 Page 9 
 is bound or to which any of the property or assets of the Issuer is subject, or (ii) result in any violation of (x) the provisions of the Articles of Incorporation or the By-Laws of the Issuer or (y) to the best knowledge of
the Issuer, any statute or any order, rule or regulation of any court or government agency or body having jurisdiction over the Issuer or any of its properties, in any manner which, in the case of clauses (i) and (ii) (y), would have a
material adverse effect on the business of the Issuer and its subsidiaries taken as a whole; 
  

	 	(c)	No consent, approval, authorization, order, registration or qualification of or with any court or governmental agency or body having jurisdiction over the Issuer or any of its
properties is required for the issue and sale of the Obligations, except such as have been, or will have been obtained prior to the issue and sale of the Obligations, and such consents, approvals, authorizations, registrations or qualifications as
may be required under “blue sky” or state securities laws or insurance laws in connection with the issue and sale of the Obligations by the Issuer; and 

  

	 	(d)	Each Obligation issued under this Agreement will be exempt from registration under the Securities Act of 1933, as amended. Each Instruction by the Issuer to issue Obligations under
this Agreement shall be deemed a representation and warranty by the Issuer as of the date thereof that the representations and warranties herein are true and correct as if made on and as of such date, except to the extent that such representations
and warranties specifically refer to a different date, in which case they shall be true and correct as of such date. 

 Section 12.
Compensation 
 The Issuer agrees to pay such compensation for the Bank’s issuing and paying agent services pursuant to this
Agreement in accordance with the Bank’s schedule of fees, as amended from time to time, that has been accepted and agreed to by the Issuer. 
 Section 13. Indemnification 
 The Issuer agrees that the Bank shall not be liable for any losses, damages,
liabilities or costs suffered or incurred by the Issuer as a result of (a) the Bank’s having executed Instructions, (b) the Bank’s improperly executing or failing to execute any Instructions because of unclear Instructions,
failure of communications media or any other circumstances beyond the Bank’s control, (c) the actions or inactions of DTC, any Agent or any broker, dealer, consignee or agent not selected by the Bank, or (d) any other acts or
omissions of the Bank (or of any of its agents or correspondents) relating to this Agreement or the transactions or activities contemplated hereby except to the extent, if any, that such other acts or omissions constitute gross negligence, willful
misconduct or violation of law by the Bank. The Issuer, in the absence of gross negligence, willful 

 Page 10 
 misconduct or violation of law by the Bank, agrees to indemnify the Bank and hold it harmless from and against (a) any and all actions, claims (groundless or otherwise), suits, losses, fines and penalties arising
out of the Bank’s having executed any Instructions or otherwise having performed any of its obligations hereunder and (b) any damages, costs, expenses (including reasonable legal fees and disbursements), losses or liabilities relating to
any such actions, claims, suits, losses fines or penalties or to any breach of this Agreement by the Issuer. In no event shall the Bank be liable for special, indirect or consequential damages. This Section 13, Indemnification, shall survive
any termination of this Agreement and the issuance and payment of any Note(s). 
 14. Termination 
 Either the Bank or the Issuer may terminate this Agreement at any time by not less than ten (10) days’ prior written notice to the other. No
such termination shall affect the rights and obligations of the Issuer and the Bank which have accrued under this Agreement prior to termination. 
 15.
Addresses 
 Instructions hereunder shall be (a) mailed, (b) telephoned, (c) transmitted by facsimile device, and/or
(d) transmitted via Noteline Direct to the Bank at the address, telephone number, and/or facsimile number specified below and shall be deemed delivered upon actual receipt by the Bank’s Commercial Paper Issuance Operations at the address,
telephone number, and/or facsimile number specified below. 
 Deutsche Bank Trust Company Americas 
 Trust & Securities Services 
 60 Wall St – 27th Floor 
 New York, NY 10005 
 Attention: Money Market Instruments Operations 
 Telephone: (212) 250-7539 / 2972 
 Facsimile: (212) 797-8616 
 All notices, requests, demands and other communications hereunder (excluding Instructions) shall be in writing and shall be deemed to have been duly given (a) upon delivery by hand (against receipt), or (b) by United States Post
Office registered mail (against receipt) or by regular mail (upon receipt) to the party and at the address set forth below or at such other address as either party may designate by written notice: 
  

					
	(a)	  	Danaher Corporation
2099 Pennsylvania Avenue, N.W.
12th Floor
		  	Washington, D.C. 20006
		  	Attention:	  	Vice President and Treasurer
		  	Telephone:	  	(202) 419-7613
		  	Facsimile:	  	(202) 419-7666
		  	Electronic Mail: frank.mcfaden@danaher.com

 Page 11 
  

					
			
		  	Attention:	  	Associate General Counsel
		  	Telephone:	  	(202) 419-7611
		  	Facsimile:	  	(202) 419-7666
		  	Electronic Mail: jim.o’reilly@danaher.com
		
	(b)	  	Deutsche Bank Trust Company Americas
		  	Trust & Securities Services
		  	60 Wall St. – 27th Floor
		  	New York, NY 10005
		  	Attention: Money Market Instruments Operations
		  	Telephone:	  	(212) 250-7539 / 2972
		  	Facsimile:	  	(212) 797-8616

 16. Miscellaneous 
  

	 	(a)	This Agreement shall be governed by and interpreted in accordance with the laws of the State of New York and as applicable, operating circulars of the Federal Reserve Bank, federal
laws and regulations as amended, New York Clearing House rules, the DTC Rules, and general commercial bank practices applicable to commercial paper issuance and payment, funds transfer and related activities. 

  

	 	(b)	This Agreement may not be assigned by the Issuer and may not be modified, or amended or supplemented except by a writing or writings duly executed by the duly authorized
representatives of the Issuer and the Bank. 

  

	 	(c)	This Agreement contains the entire understanding and agreement between the parties with respect to the subject matter hereof. All prior agreements, understandings, representations,
statements, promises, inducements, negotiations, and undertakings and all existing contracts previously executed between said parties with respect to said subject matter are superseded hereby. 

  

	 	(d)	With respect to all references herein to nouns, insofar as the context requires, the singular form shall be deemed to include the plural, and the plural form shall be deemed to
include the singular. 

 Page 12 
  

	 	(e)	In no event shall the Bank be liable for any failure or delay in the performance of its obligations hereunder because circumstances beyond the Bank control, including, but not
limited to, acts of God, flood, war (whether declared or undeclared), terrorism, fire, riot, embargo, government action, including any laws, ordinances, regulations or the like which restrict or prohibit the providing of the services contemplated by
this Agreement. 

  

	 	(f)	The Bank shall incur no liability in acting upon telephonic, facsimile or other electronic instructions which the Bank believes in good faith to have been given by an authorized
person, including but not limited to Instructions received in connection with the issuance of Obligations. In addition, in the event that the Issuer or an Agent currently or in the future utilizes a trading system that produces issuance instructions
that do not include signatures or initials, the Bank may conclusively rely upon such instructions absent such signatures or initials. 

 Page 13 
 Agreed to and Accepted by: 
  

							
	Deutsche Bank Trust Company Americas	  	Danaher Corporation
		
	 /s/ Annie Jaghatspanyan
	  	 /s/ Frank T. McFaden

	Authorized Officer’s Signature	  	Authorized Officer’s Signature
				
	Name:	  	 Annie Jaghatspanyan
	  	Name:	  	 Frank T. McFaden

	Title:	  	 Assistant Vice President
	  	Title:	  	 Vice President and Treasurer

	Date:	  	 May 5, 2006
	  	Date:	  	 May 5, 2006

		
	 /s/ Wanda Camacho
	  	 /s/ Daniel L. Comas

	Authorized Officer’s Signature	  	Authorized Officer’s Signature
				
	Name:	  	 Wanda Camacho
	  	Name:	  	 Daniel L. Comas

	Title:	  	 Vice President
	  	Title:	  	 Executive Vice President and Chief Financial Officer

	Date:	  	 May 5, 2006
	  	Date:	  	 May 5, 2006

 List of Exhibits 
 Exhibit A DTC Master Note & Universal Note 
 Exhibit B Board Resolutions & Secretary’s Certificate 
 Exhibit C Authorized Officers & Certificate of Incumbency 
 Exhibit D Authorized Persons 
 Exhibit E DTC Certificate Agreement 
 Exhibit F DTC Letter of RepresentationsExhibit 10.3

 Exhibit 10.3 
  

			
	

	  	LIMITED LIABILITY PARTNERSHIP  
 EXECUTION COPY

 8 May 2006 
 DANAHER EUROPEAN FINANCE S.A. 
 as Issuer 
 DANAHER CORPORATION 
 as Guarantor 
 LEHMAN BROTHERS INTERNATIONAL (EUROPE) 
 as
Arranger 
 - and - 
 LEHMAN
BROTHERS INTERNATIONAL (EUROPE) 
 as Dealer 
  

 DEALER AGREEMENT 
 relating to a U.S.$ 2,200,000,000 
 EURO-COMMERCIAL PAPER PROGRAMME 
  

 CONTENTS 
  

					
	 Clause
	  	Page
	1.	  	Interpretation	  	2
			
	2.	  	Issue	  	4
			
	3.	  	Representations And Warranties	  	7
			
	4.	  	Covenants And Agreements	  	10
			
	5.	  	Conditions Precedent	  	14
			
	6.	  	Termination And Appointment	  	15
			
	7.	  	Nomination Of New Issuer	  	15
			
	8.	  	Notices	  	16
			
	9.	  	Third Party Rights	  	16
			
	10.	  	Law And Jurisdiction	  	16
		
	 SCHEDULE 1     Condition Precedent Documents
	  	18
		
	 SCHEDULE 2     Selling Restrictions
	  	20
		
	 SCHEDULE 3     Programme Summary
	  	23
		
	 SCHEDULE 4     Increase Of Maximum Amount
	  	26
		
	 SCHEDULE 5     Appointment Of New Dealer
	  	28
		
	 SCHEDULE 6     Form Of Calculation Agency Agreement
	  	30

 THIS AGREEMENT is made on 8 May 2006 
 BETWEEN 
  

	(1)	DANAHER EUROPEAN FINANCE S.A. (the “Issuer”); 

  

	(2)	DANAHER CORPORATION, (the “Guarantor”); 

  

	(3)	LEHMAN BROTHERS INTERNATIONAL (EUROPE) (the “Arranger”); and 

  

	(4)	LEHMAN BROTHERS INTERNATIONAL (EUROPE), as Dealer. 

 IT IS AGREED as follows: 
  

	1.	INTERPRETATION 

  

	1.1	Definitions 

 In this Agreement: 
 “Agency Agreement” means the issuing and paying agency agreement, dated the date hereof, between the Issuer, the Guarantor and the
Issuing and Paying Agent, providing for the issue of and payment on the Notes, as such agreement may be amended or supplemented from time to time; 
 “Agreements” means this Agreement (as amended or supplemented from time to time), any agreement reached pursuant to Clause 2.1, the Deed of Covenant, the Guarantee and the Agency Agreement; 
 “Dealer” means the institution specified as a Dealer in the Programme Summary together with any additional institution or institutions
appointed pursuant to Clause 6.2 but excluding any institution or institutions whose appointment has been terminated pursuant to Clause 6.1; 
 “Deed of Covenant” means the deed of covenant, dated the date hereof, executed by the Issuer in respect of Global Notes issued pursuant to the Agency Agreement, as such deed may be amended or
supplemented from time to time; 
 “Definitive Note” means a security printed Note in definitive form; 
 “Disclosure Documents” means, at any particular date, (a) the Information Memorandum, (b) the most recently published audited
consolidated financial statements of the Guarantor and, if financial statements have been published by the Issuer, the most recently published audited unconsolidated financial statements of the Issuer and any subsequent quarterly unaudited financial
statements of the Issuer and the Guarantor (in the case of the Guarantor each having been filed with the United States Securities and Exchange Commission (the “SEC”)), and (c) any other document delivered by the Issuer or the
Guarantor to the Dealer which the Issuer or the Guarantor (as the case may be) has expressly authorised to be distributed in connection with transactions contemplated by this Agreement; 
  

 - 2 - 

 “Dollars” and “U.S.$” denote the lawful currency of the United States
of America; and “Dollar Note” means a Note denominated in Dollars; 
 “Dollar Equivalent” means, on any day:

  

	 	(a)	in relation to any Dollar Note, the nominal amount of such Note; and 

  

	 	(b)	in relation to any Note denominated or to be denominated in any other currency, the amount in Dollars which would be required to purchase the nominal amount of such Note as
expressed in such other currency at the spot rate of exchange for the purchase of such other currency with Dollars quoted by the Issuing and Paying Agent at or about 11.00 a.m. (London time) on such day; 

 “Euro”, “euro”, “EUR” or “€” means the lawful currency of member states of the
European Union that adopt the single currency introduced in accordance with the Treaty; and “Euro Note” means a Note denominated in Euro; 
 “FSMA” means the Financial Services and Markets Act 2000; 
 “Global Note”
means a Note in global form, representing an issue of commercial paper notes of a like maturity which may be issued by the Issuer from time to time pursuant to the Agency Agreement; 
 “Guarantee” means the guarantee dated on or about the date of this Agreement and executed as a deed by the Guarantor in respect of the
obligations of the Issuer under the Notes and the Deed of Covenant; 
 “Index Linked Note” means a Note, the redemption or
coupon amount of which is not fixed at the time of issue, but which is to be calculated in accordance with such formula or other arrangement as is agreed between the Issuer and the Dealer at the time of reaching agreement under Clause 2.1;

 “Information Memorandum” means the most recent information memorandum, as the same may be amended or supplemented from
time to time, containing information about the Issuer, the Guarantor and the Programme, the text of which has been prepared by or on behalf of the Issuer and the Guarantor for use by the Dealer in connection with the transactions contemplated by
this Agreement; 
 “Issuing and Paying Agent” means Deutsche Bank AG, London Branch and any successor Issuing and Paying
Agent appointed in accordance with the Agency Agreement; 
 “Note” means a commercial paper note of the Issuer purchased or
to be purchased by a Dealer under this Agreement, in bearer global or definitive form, substantially in the relevant form scheduled to the Agency Agreement or such other form(s) as may be agreed from time to time between the Issuer and the Issuing
and Paying Agent and, unless the context otherwise requires, includes the commercial paper notes represented by the Global Notes; 
  

 - 3 - 

 “Programme” means the Euro-commercial paper programme established by this Agreement;

 “Programme Summary” means the summary of the particulars of the Programme as set out in Schedule 3, as such summary may be
amended or superseded from time to time; 
 “Securities Act” means the United States Securities Act of 1933, as amended;

 “Subsidiary” means, with respect to any person, (i) any corporation, association or other business entity of which
more than 50% of the total voting power of shares of capital stock or other equity interest entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or
controlled, directly or indirectly, by such person or one or more of the other subsidiaries of that person (or a combination thereof) and (ii) any partnership (a) the sole general partner or managing general partner of which is such person
or a subsidiary or such person or (b) the only general partners of which are such person or of one or more subsidiaries of such person (or any combination thereof); 
 “Treaty” means the Treaty establishing the European Community, as amended; and 
 “USCP Program” means the Guarantor’s U.S. commercial paper program established on 5 May 2006 by the Guarantor, as issuer and Goldman, Sachs & Co., as U.S. dealer, concerning notes to be issued pursuant to
an Issuing and Paying Agency Agreement between the Guarantor and Deutsche Bank Trust Company Americas, dated 5 May 2006. 
  

	1.2	Programme Summary 

 Terms not expressly defined
herein shall have the meanings set out in the Programme Summary. 
  

	1.3	Legislation 

 Any reference in this Agreement to any
legislation (whether primary legislation or regulations or other subsidiary legislation made pursuant to primary legislation) shall be construed as a reference to such legislation as the same may have been, or may from time to time be, amended or
re-enacted. 
  

	1.4	Clauses and Schedules 

 Any reference in this
Agreement to a Clause, sub-clause or a Schedule is, unless otherwise stated, to a clause or sub-clause hereof or a schedule hereto. 
  

	1.5	Headings 

 Headings and sub-headings are for ease of
reference only and shall not affect the construction of this Agreement. 
  

	2.	ISSUE 

  

	2.1	Basis of agreements to issue; uncommitted facility 

 Subject to the terms hereof, the Issuer may issue Notes to the Dealer from time to time at such prices and upon such terms as the Issuer and the Dealer may agree, provided 
  

 - 4 - 

 that the Issuer has, and shall have, no obligation to issue Notes to the Dealer, except as agreed, and
the Dealer has, and shall have, no obligation to subscribe Notes from the Issuer, except as agreed. The Issuer acknowledges that the Dealer may resell Notes subscribed by the Dealer. The tenor of each Note shall not be less than the Minimum Term nor
greater than the Maximum Term specified in the Programme Summary, calculated from (and including) the date of issue of such Note to (but excluding) the maturity date thereof. Definitive Notes (if any) shall be issued in the Denomination(s) specified
in the Programme Summary. Each issue of Notes having the same issue date, maturity date, currency or denomination, yield and redemption basis will be represented by a Global Note or by Definitive Notes having the aggregate nominal amount of such
issue as may be agreed between the Issuer and the Dealer. 
  

	2.2	Procedures 

 If the Issuer and the Dealer shall
agree on the terms of the subscription of any Note by the Dealer (including agreement with respect to the issue date, maturity date, currency, denomination, yield, redemption basis, aggregate nominal amount and purchase price), then: 
  

	 	2.2.1	Instruction to Issuing and Paying Agent: the Issuer shall instruct the Issuing and Paying Agent to issue such Note and deliver it in accordance with the terms of the Agency
Agreement; 

  

	 	2.2.2	Payment of purchase price: the Dealer shall subscribe such Note on the date of issue: 

  

	 	(a)	Dollar Note: in the case of a Dollar Note, by transfer of funds settled through the New York Clearing House Interbank Payments System (or such other same-day value funds
as at the time shall be customary for the settlement in New York City of international banking transactions denominated in Dollars) to such account of the Issuing and Paying Agent in New York City denominated in Dollars as the Issuing and
Paying Agent shall have specified for this purpose; or 

  

	 	(b)	Euro Note: in the case of a Euro Note, by transfer of funds settled through the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System to such
account of the Issuing and Paying Agent denominated in Euro as the Issuing and Paying Agent shall have specified for this purpose; or 

  

	 	(c)	Other Notes: in all other cases, by transfer of freely transferable same-day funds in the relevant currency to such account of the Issuing and Paying Agent at such bank in
the principal domestic financial centre for such currency as the Issuing and Paying Agent shall have specified for this purpose, 

 or, in each case, by such other form of transfer as may be agreed between the Dealer and the Issuer; and 
  

 - 5 - 

	 	2.2.3	Delivery Instructions: the Dealer shall notify the Issuer and the Issuing and Paying Agent of the Issuer of the payment and delivery instructions applicable to such Note in
accordance with prevailing market practice and in sufficient time to enable the Issuing and Paying Agent to deliver such Note (or, in the case of any Sterling Definitive Note, make the same available for collection) on its issue date.

  

	2.3	Failure of agreed issuance 

 If for any reason
(including, without limitation, the failure of the relevant trade) a Note agreed to be purchased pursuant to Clause 2.1 is not to be issued, each of the Issuer and the Dealer shall immediately notify the Issuing and Paying Agent thereof.

  

	2.4	Issuance currencies 

 The parties acknowledge that
Notes issued under the Programme may be denominated in Dollars or, subject as provided below, in any other currency. Any agreement reached pursuant to Clause 2.1 to sell and purchase a Note denominated in a currency other than Dollars shall be
conditional upon: 
  

	 	2.4.1	Compliance: it being lawful and in compliance with all requirements of any relevant central bank and any other relevant fiscal, monetary, regulatory or other authority, for
deposits to be made in such currency and for such Note to be issued, offered for sale, sold and delivered; 

  

	 	2.4.2	Convertibility: such other currency being freely transferable and freely convertible into Dollars; and 

  

	 	2.4.3	Amendments: any appropriate amendments which the Dealer, the Issuer or the Issuing and Paying Agent shall require having been made to this Agreement and/or the Agency
Agreement. 

  

	2.5	Maximum Amount 

 The Issuer shall ensure that the
outstanding nominal amount of all Notes issued under the Programme, when taken together with the aggregate principal amount outstanding from time to time under the USCP Program, does not exceed the Maximum Amount. For the purposes of calculating the
Maximum Amount, the nominal amount of any outstanding Note or Notes denominated in any currency other than Dollars shall be taken as the Dollar Equivalent of such nominal amount as at the date of the agreement for the issue of the Note or Notes then
to be issued provided that in calculating the nominal amount of Notes outstanding on the date of issue of such Note or Notes there shall be disregarded Notes which mature on that date. The Issuer may increase the Maximum Amount by giving at least
ten days’ notice by letter, substantially in the form set out in Schedule 4, to the Dealer, the Issuing and Paying Agent and the Paying Agents. Such increase will not take effect until the Dealer has received from the Issuer the documents
listed in such letter (if required by the Dealer), in each case in form and substance acceptable to the Dealer. 
  

 - 6 - 

	2.6	Calculation Agent 

 If Index Linked Notes are to be
issued, the Issuer will appoint either the Dealer or the Issuing and Paying Agent (subject to the consent of the Dealer or the Issuing and Paying Agent, as the case may be, thereto) or some other person (subject to the consent of the Dealer and the
Paying Agent to such person’s appointment) to be the calculation agent in respect of such Index Linked Notes and the following provisions shall apply: 
  

	 	2.6.1	Dealer: if the Dealer is to be the calculation agent, its appointment as such shall be on the terms of the form of agreement set out in Schedule 6, and the Dealer will be
deemed to have entered into an agreement in such form for a particular calculation if it is named as calculation agent in the redemption calculation attached to or endorsed on the relevant Note; 

  

	 	2.6.2	Issuing and Paying Agent: if the Issuing and Paying Agent is to be the calculation agent, its appointment as such shall be on the terms set out in the Agency Agreement; and

  

	 	2.6.3	Other Calculation Agent: if the person nominated by the Dealer or by the Issuing and Paying Agent as calculation agent is not the Dealer, that person shall execute (if it has
not already done so) an agreement substantially in the form of the agreement set out in Schedule 6 and the appointment of that person shall be on the terms of that agreement. 

  

	3.	REPRESENTATIONS AND WARRANTIES 

  

	3.1	Representations and warranties 

 Each of the Issuer
(in respect of itself) and the Guarantor (in respect of itself and the Issuer) represents and warrants to the Dealer at the date of this Agreement, each date upon which the Maximum Amount is increased, each date upon which an agreement for the issue
and subscription of Notes is made by the Issuer and each date upon which Notes are, or are to be, issued by the Issuer (by reference to the facts and circumstances then existing): 
  

	 	3.1.1	Authorisation; valid, binding and enforceable: each of: 

  

	 	(a)	the establishment of the Programme and the execution, delivery and performance by the Issuer and the Guarantor of the Agreements and the Notes; 

  

	 	(b)	the entering into and performance by the Issuer and the Guarantor of any agreement for the subscription of Notes reached pursuant to Clause 2.1; and 

 

	 	(c)	the issue and sale of the Notes by the Issuer and the Guarantor under the Agreements, 

 has been duly authorised by all necessary action and the same constitute, or, in the case of Notes, will, when issued in accordance with the Agency 
  

 - 7 - 

 Agreement, constitute, valid and binding obligations of each of the Issuer and the Guarantor enforceable
against them in accordance with their respective terms (subject, as to enforceability, to bankruptcy, insolvency, reorganisation and similar laws of general applicability relating to or affecting creditors’ rights and to general principles of
equity); 
  

	 	3.1.2	Status: the obligations of the Issuer and the Guarantor under each of the Agreements to which it is a party and the Notes will rank (other than in the case of obligations
preferred by mandatory provisions of law) pari passu with all other present and future unsecured and unsubordinated indebtedness of (i) the Issuer or guaranteed by the Issuer and (ii) the Guarantor, or guaranteed by the Guarantor,
as the case may be; 

  

	 	3.1.3	Incorporation, capacity: each of the Issuer and the Guarantor are duly incorporated and validly existing under the laws of its jurisdiction of incorporation and:

  

	 	(a)	the establishment of the Programme, the execution, delivery and performance by the Issuer and the Guarantor of the Agreements and the Notes; 

  

	 	(b)	the entering into and performance by the Issuer and the Guarantor of any agreement for the issue and subscription of Notes reached pursuant to Clause 2.1; and

  

	 	(c)	the issue and subscription of the Notes by the Issuer and Guarantor under the Agreements, 

 will not infringe any of the provisions of the Issuer’s or the Guarantor’s certificate of incorporation, as amended, and amended and restated
by-laws and will not contravene any law, regulation, order or judgement to which the Issuer or the Guarantor or any of its assets is subject nor result in the breach of any term of, or cause a default under, any instrument to which the Issuer or the
Guarantor is a party or by which it or any of its assets may be bound, in each case, in any material respect, in the context of the Programme and of the Notes issued thereunder; 
  

	 	3.1.4	Approvals: all consents, authorisations, licences or approvals of and registrations and filings with any governmental or regulatory authority required in connection with the
issue by the Issuer and the Guarantor of Notes under the Agreements and the performance of the Issuer’s and the Guarantor’s obligations under the Agreements and the Notes have been obtained and are in full force and effect, and copies
thereof have been supplied to the Dealer except for such consents, authorisations, licences, approvals, restrictions and filings as could reasonably be expected to be material in the context of this Agreement; 

  

 - 8 - 

	 	3.1.5	Disclosure: in the context of this Agreement and the transactions contemplated hereby, the information contained or incorporated by reference in the Disclosure Documents is
true and accurate in all material respects and is not misleading in any material respect and there are no other facts in relation to the Issuer, the Guarantor or any Notes the omission of which makes, in the context of the issue of the Notes, the
Disclosure Documents as a whole or any such information contained or incorporated by reference therein misleading in any material respect; 

  

	 	3.1.6	Financial Statements: the audited financial statements of the Issuer (if such financial statements are available), consolidated audited financial statements of the Guarantor
and any quarterly unaudited financial statements of the Issuer or the Guarantor (in the case of the Guarantor each having been filed with the SEC and incorporated by reference in the Information Memorandum), present fairly and accurately the
financial position of the Issuer and the Guarantor (consolidated in the case of the Guarantor) as of the respective dates of such statements and the results of operations of the Issuer and the Guarantor (consolidated in the case of the Guarantor)
for the periods they cover or to which they relate and such financial statements have been prepared in accordance with the relevant laws of the relevant jurisdiction of incorporation of each of the Issuer and the Guarantor and with generally
accepted accounting principles of the relevant jurisdiction of incorporation of each of the Issuer and the Guarantor applied on a consistent basis throughout the periods involved (unless and to the extent otherwise stated therein);

  

	 	3.1.7	No material adverse change, No litigation: since the date of the most recent audited unconcolidated financial statements of the Issuer (if such financial statements are
available) and audited consolidated financial statements of the Guarantor supplied to the Dealer and, in relation to any date on which this warranty falls to be made after the date hereof, save as otherwise disclosed by any Disclosure Document
subsequently delivered by the Issuer or Guarantor (as the case may be) to the Dealer: 

  

	 	(a)	there has been no adverse change in the business, financial or other condition of the Issuer or the Guarantor or any of its Subsidiaries taken as a whole; and

  

	 	(b)	there is no litigation, arbitration or governmental proceeding pending or, to the knowledge of the Issuer or the Guarantor, threatened against or affecting the Issuer, the Guarantor
or any of the Guarantor’s Subsidiaries, 

 which in any case could reasonably be expected to be material in the context of
this Agreement and the transactions contemplated hereby; 
  

	 	3.1.8	No default: neither the Issuer nor the Guarantor are in default in respect of payment of any indebtedness for borrowed money where such indebtedness is in an aggregate amount
greater than U.S. $50,000,000; 

  

 - 9 - 

	 	3.1.9	No ratings downgrade: there has been no downgrading, nor any notice to the Issuer or the Guarantor of any intended downgrading, in the rating accorded to the Guarantor’s
short-term or long-term debt by Standard & Poor’s Ratings Services, a division of the McGraw-Hill Companies Inc., and Moody’s Investors Service, Inc., or any other rating agency which has issued a rating in connection with the
Guarantor or any security of the Guarantor; 

  

	 	3.1.10	Taxation: subject to compliance with the terms of the Agreements, neither the Issuer nor the Guarantor are required by any law or regulation or any relevant taxing authority
in the United States to make any deduction or withholding from any payment due under the Notes, the Agency Agreement or the Deed of Covenant for or on account of any income, registration, transfer or turnover taxes, customs or other duties or taxes
of any kind; 

  

	 	3.1.11	Maximum Amount not exceeded: the outstanding nominal amount of all Notes on the date of issue of any Note, when taken together with the aggregate principal amount outstanding
from time to time under the USCP Program, does not and will not exceed the Maximum Amount set out in the Programme Summary (as increased from time to time pursuant to Clause 2.5) and for this purpose the nominal amount of any Note denominated
in any currency other than Dollars shall be taken as the Dollar Equivalent of such nominal amount as at the date of the agreement for the issue of such Note provided that in calculating the nominal amount of the Notes outstanding on the date of
issue of such Note there shall be disregarded Notes which mature on that date; and 

  

	 	3.1.12	Investment Company: neither the Issuer nor the Guarantor is an investment company as defined in the United States Investment Company Act of 1940. 

  

	 	3.1.13	No Trade or Business by the Issuer in the United States: the Issuer is not engaged, and has not since its formation been engaged, in any trade or business within the United
States, as determined for United States federal tax purposes. 

  

	3.2	Notice of inaccuracy 

 If, prior to the time a Note
is issued and delivered to or for the account of the Dealer, an event occurs which would render any of the representations and warranties set out in Clause 3.1 immediately, or with the lapse of time, untrue or incorrect, the Issuer will inform
the Dealer in writing as soon as practicable of the occurrence of such event. In either case, the Dealer shall inform the Issuer in writing without any undue delay whether it wishes to continue or discontinue the issuance and delivery of the
respective Notes. 
  

	4.	COVENANTS AND AGREEMENTS 

  

	4.1	Issuer 

 The Issuer and the Guarantor covenant and
agree that: 
  

 - 10 - 

	 	4.1.1	Delivery of published information: whenever the Issuer or the Guarantor publishes or makes available to its shareholders or to the public (by filing with any regulatory
authority, securities exchange or otherwise) any information which could reasonably be expected to be material in the context of this Agreement and the transactions contemplated hereby, the Issuer or the Guarantor (as the case may be) shall notify
the Dealer as to the nature of such information, shall make a reasonable number of copies of such information available to the Dealer upon request to permit distribution to investors and prospective investors and shall take such action as may be
necessary to ensure that the representation and warranty contained in sub-clause 3.1.5 is true and accurate in all material respects on the dates contemplated by such sub-clause. Such notification may be by means of electronic communication,
including, but not limited to, by email and/or directing the Dealer’s attention to information on-line; 

  

	 	4.1.2	Indemnity: the Issuer, failing which the Guarantor, shall indemnify and hold harmless on demand the Dealer against any claim, demand, action, liability, damages, cost, loss
or expense (including, without limitation, reasonable legal fees and any applicable value added tax) which it may incur arising out of, in connection with or based upon: 

  

	 	(a)	the Issuer’s failure to make due payment under the Notes; or 

  

	 	(b)	Notes not being issued for any reason (other than as a result of the failure of the Dealer to pay for such Notes) after an agreement for the sale of such Notes has been made;

  

	 	(c)	the Guarantor’s failure to make due payment under the Guarantee; or 

  

	 	(d)	any breach or alleged breach of the representations, warranties, covenants or agreements made by the Issuer or the Guarantor in this Agreement unless in the case of an alleged
breach only, the allegation is being made by a person other than the Dealer or any untrue statement or alleged untrue statement of any material fact contained in the Disclosure Documents or the omission or alleged omission to state therein a
material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading in any material respect unless in the case of an alleged breach only, the allegation is being made by a
person other than the Dealer; 

  

	 	4.1.3	Procedure for indemnification: The Dealer will promptly notify the Issuer and the Guarantor in writing of any claim in respect of which indemnification may be sought under
Clause 4.1.2 of this Agreement against the Issuer or the Guarantor, as the case may be, provided that (i) the omission so to notify the Issuer or the Guarantor will not relieve the Issuer or the Guarantor, as the case may be, from any liability
which it may have hereunder unless and except to the extent it did not otherwise learn of such claim and such failure results in the forfeiture by the Issuer or the Guarantor, as the case may be, of 

  

 - 11 - 

 substantial rights and defences, and (ii) the omission to notify the Issuer or the Guarantor, as
the case may be, will not relieve it from liability which it may have to the Dealer otherwise than on account of Clause 4.1.2. 
 In the
event that any such claim is made against the Dealer and it notifies the Issuer and/or the Guarantor of the existence thereof, the Issuer or the Guarantor, as the case may be, will be entitled to participate therein, and to the extent that it may
elect by written notice delivered to the Dealer, to assume the defence thereof, with counsel reasonably satisfactory to the Dealer; provided that if the defendants in any such claim include both the Dealer and the Issuer or the Guarantor, as the
case may be, and the Dealer shall have concluded that there may be legal defences available to it which are different from or additional to those available to the Issuer or the Guarantor, as the case may be, the Issuer or the Guarantor shall not
have the right to direct the defence of such claim on behalf of the Dealer, and the Dealer shall have the right to select separate counsel to assert such legal defences on behalf of the Dealer. 
 Upon receipt of notice from the Issuer or the Guarantor, as the case may be, to the Dealer of the Issuer’s or the Guarantor’s election so to
assume the defence of such claim and approval by the Dealer of counsel, neither the Issuer nor the Guarantor will be liable to the Dealer for expenses incurred thereafter by the Dealer in connection with the defence thereof (other than reasonable
costs of investigation) unless (i) the Dealer shall have employed separate counsel in connection with the assertion of legal defences in accordance with the proviso to the next preceding sentence (it being understood, however, that neither the
Issuer nor the Guarantor, as the case may be, shall be liable for the expenses of more than one separate counsel (in addition to any local counsel in the jurisdiction in which any claim is brought), approved by the Dealer, representing the Dealer
who is party to such claim), (ii) the Issuer or the Guarantor, as the case may be, shall not have employed counsel reasonably satisfactory to the Dealer to represent the Dealer within a reasonable time after notice of existence of the claim, or
(iii) the Issuer or the Guarantor, as the case may be, has authorised in writing the employment of counsel for the Dealer. 
 The Issuer
and the Guarantor agree that without the Dealer’s prior written consent, it will not settle compromise or consent to the entry of any judgment in any claim in respect of which indemnification may be sought under Clause 4.1.2 of this Agreement
(whether or not the Dealer is an actual or potential party to such claim), unless such settlement, compromise or consent includes an unconditional release of the Dealer from all liability arising out of such claim. 
  

 - 12 - 

	 	4.1.4	Expenses, stamp duties, amendments: the Issuer, failing which the Guarantor, will: 

  

	 	(a)	Arranger’s expenses: pay, or reimburse the Arranger for, all reasonable out-of-pocket costs and expenses (including United Kingdom value added tax and any other taxes or
duties thereon and fees and disbursements of counsel to the Arranger) incurred by the Arranger in connection with the preparation, negotiation, printing, execution and delivery of this Agreement and all documents contemplated by this Agreement;

  

	 	(b)	Dealer’s expenses: pay, or reimburse the Dealer for, all reasonable out-of-pocket costs and expenses (including United Kingdom value added tax and any other taxes or
duties thereon and fees and disbursements of counsel to the Dealer) incurred by the Dealer in connection with the enforcement or protection of its rights under this Agreement; 

  

	 	(c)	Stamp duties: pay all stamp, registration and other taxes and duties (including any interest and penalties thereon or in connection therewith) except those arising solely as
a result of the Dealer’s default which may be payable upon or in connection with the creation and issue of the Notes and the execution, delivery and performance of the Agreements and the Issuer shall indemnify the Dealer against any claim,
demand, action, liability, damages, cost, loss or reasonable expense (including, without limitation, legal fees and any applicable value added tax) which it may incur as a result or arising out of or in relation to any failure to pay or delay in
paying any of the same; 

  

	 	(d)	Amendments: notify the Dealer of any change in the identity of or the offices of the Issuing and Paying Agent and any material change or amendment to or termination of the
Agency Agreement, the Guarantee or the Deed of Covenant not later than five days prior to the making of any such change or amendment or such termination; and it will not permit to become effective any such change, amendment or termination which
could reasonably be expected to affect adversely the interests of the Dealer or the holder of any Notes then outstanding; and 

  

	 	4.1.5	No deposit-taking: the Issuer will issue Notes only if the following conditions apply (or the Notes can otherwise be issued without contravention of section 19 of the FSMA):

  

	 	(a)	Selling restrictions: the Dealer represents, warrants and agrees in the terms set out in sub-clause 3.1 of Schedule 2; and 

  

	 	(b)	Minimum denomination: the redemption value of each such Note is not less than £100,000 (or an amount of equivalent value denominated wholly or partly in a currency
other than sterling), and no part of any 

  

 - 13 - 

	 	 	Note may be transferred unless the redemption value of that part is not less than £100,000 (or such an equivalent amount). 

  

	 	4.1.6	No Trade or Business by the Issuer in the United States: the Issuer will not engage in any trade or business within the United States, as determined for United States federal
tax purposes. 

  

	4.2	Compliance 

 The Issuer shall take such steps (in
conjunction with the Dealer, where appropriate) to ensure that any laws and regulations or requirements of any governmental agency, authority or institution which may from time to time be applicable to any Note shall be fully observed and complied
with and in particular (but without limitation) that neither the Issuer, nor any of its affiliates (as defined in Rule 405 under the Securities Act) nor any person acting on its or its affiliates behalf have engaged or will engage in any directed
selling efforts with respect to the Notes, and they have complied and will comply with the offering restrictions requirement of Regulation S. Terms used in this sub-clause have the meanings given to them by Regulation S under the
Securities Act. 
  

	4.3	Selling restrictions 

 The Dealer represents,
covenants and agrees that it has complied with and will comply with the selling restrictions set out in Schedule 2. Subject to compliance with those restrictions, the Dealer is hereby authorised by the Issuer and the Guarantor to circulate the
Disclosure Documents to purchasers or potential purchasers of the Notes. 
  

	4.4	Dealers’ obligations several 

 The obligations
of each Dealer contained in this Agreement are several. 
  

	4.5	Status of Arranger 

 The Dealer agrees that the
Arranger has only acted in an administrative capacity to facilitate the establishment and/or maintenance of the Programme and has no responsibility to it for (a) the adequacy, accuracy, completeness or reasonableness of any representation,
warranty, undertaking, agreement, statement or information in the Information Memorandum, this Agreement or any information provided in connection with the Programme or (b) the nature and suitability to it of all legal, tax and accounting
matters and all documentation in connection with the Programme or any issue of Notes thereunder. 
  

	5.	CONDITIONS PRECEDENT 

  

	5.1	Conditions precedent to first issue 

 The Issuer and
the Guarantor, as the case may be, agree to deliver to the Dealer, prior to the first issue of Notes, each of the documents set out in Schedule 1 in form, substance and number reasonably requested by the Dealer. 
  

	5.2	Conditions precedent to each issue 

 In relation to
each issue of Notes, it shall be a condition precedent to the subscription thereof by the Dealer that (a) the representations and warranties in Clause 3.1 shall be true and correct on each date upon which an agreement for the sale of Notes
is made hereunder and on the date on which such Notes are issued by reference to the facts and circumstances then existing and that (b) there is no other material breach of the Issuer’s or Guarantor’s obligations under any of the
Agreements or the Notes. 
  

 - 14 - 

	5.3	Sterling Definitive Notes 

 In relation to an issue
of Sterling Definitive Notes (and if so agreed between the Issuer and the Dealer), it shall be a condition precedent to the subscription thereof by any Dealer that the Issuer supplies to each Dealer, not less than five days prior to the first issue
of such Notes to that Dealer confirmation from the Issuing and Paying Agent that the relevant agreed forms of Definitive Note have been security printed and the same delivered to the Issuing and Paying Agent. 
  

	6.	TERMINATION AND APPOINTMENT 

  

	6.1	Termination 

 The Issuer may terminate the
appointment of the Dealer, and the Dealer may resign, on not less than ten days’ written notice to the Dealer or the Issuer, as the case may be. The Issuer shall promptly inform the Issuing and Paying Agent and the Paying Agent of any such
termination or resignation. The rights and obligations of each party hereto shall not terminate in respect of any rights or obligations accrued or incurred before the date on which such termination takes effect and the provisions of
sub-clause 4.1.2 and 4.1.4 shall survive termination of this Agreement and delivery against payment for any of the Notes. 
  

	6.2	Additional Dealers 

 Nothing in this Agreement shall
prevent the Issuer from appointing one or more additional Dealers upon the terms of this Agreement provided that any additional Dealer shall have first confirmed acceptance of its appointment upon such terms in writing to the Issuer in substantially
the form of the letter set out in Schedule 5, whereupon it shall become a party to this Agreement vested with all the authority, rights, powers, duties and obligations as if originally named as a Dealer hereunder. The Issuer shall promptly inform
the Dealer, the Guarantor, the Issuing and Paying Agent and the Paying Agent of any such appointment. The Issuer hereby agrees to supply to such additional Dealer, upon such appointment, such legal opinions as are specified in paragraph 6 of
Schedule 1, if requested, or reliance letters in respect thereof. 
  

	7.	NOMINATION OF NEW ISSUER 

 The Guarantor may, with
the Dealer’s prior consent, at any time and from time to time nominate one or more issuers (each, an “Issuer”) under the Programme provided that such new Issuer so notifies the Dealer in writing and provides to the Dealer not
less than three business days prior to the first issue of Notes by the new Issuer (a) copies of documents corresponding to those referred to in paragraph 1, 2, 3 (c) and (d), 4(a)(if relevant), 7, 8 and 9 of Schedule 1 in relation to the
new Issuer, (b) the new Issuer’s written agreement to be bound by the terms of this Agreement and the Agency Agreement in form and substance satisfactory to the Dealer, (c) a legal opinion from counsel acceptable to the Dealer and
qualified in the law of the jurisdiction of incorporation of the new Issuer and (d) a supplemental Information Memorandum. 
  

 - 15 - 

 The Guarantor shall procure that the new Issuer shall comply with and discharge its obligations under
this Agreement, the Agency Agreement, the Deed of Covenant executed by it and the Notes issued by it. 
  

	8.	NOTICES 

  

	8.1	Addressee for notices 

 All notices and other
communications hereunder shall, save as otherwise provided in this Agreement, be made in writing and in English (by letter or fax) and shall be sent to the intended recipient at the address or fax number and marked for the attention of the person
(if any) from time to time designated by that party to the other parties hereto for such purpose. The initial address and fax number so designated by each party are set out in the Programme Summary. 
  

	8.2	Effectiveness 

 Any communication from any party to
any other party under this Agreement shall be effective if sent by letter or fax upon receipt by the addressee, provided that any such notice or other communication which would otherwise take effect after 4.00 p.m. on any particular day shall not
take effect until 10.00 a.m. on the immediately succeeding business day in the place of the addressee. 
  

	9.	THIRD PARTY RIGHTS 

 A person who is not a party to
this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Agreement. 
  

	10.	LAW AND JURISDICTION 

  

	10.1	Governing law 

 This Agreement and all matters
arising from or connected with it are governed by, and shall be construed in accordance with, English law. 
  

	10.2	English courts 

 The courts of England have
exclusive jurisdiction to settle any dispute (a “Dispute”), arising from or connected with this Agreement (including a dispute regarding the existence, validity or termination of this Agreement) or the consequences of its nullity.

  

	10.3	Appropriate forum 

 The parties agree that the
courts of England are the most appropriate and convenient courts to settle any Dispute and, accordingly, that they will not argue to the contrary. 
  

	10.4	Rights of the Dealer to take proceedings outside England 

 Clause 10.2 is for the benefit of the Dealer only. As a result, nothing in this Clause 10 prevents the Dealer from taking proceedings relating to a Dispute (“Proceedings”) in any other courts with jurisdiction. To
the extent allowed by law, the Dealer may take concurrent Proceedings in any number of jurisdictions. 
  

	10.5	Process agent 

 The Issuer and the Guarantor agree
that the documents which start any Proceedings and any other documents required to be served in relation to those Proceedings may be 
  

 - 16 - 

 served on it by being delivered to Veeder-Root Finance Company at Hydrex House, Garden Road, Richmond,
Surrey TW9 4NR, United Kingdom, marked for the attention of the Manager, Corporate Finance and the Vice President or, if different, its registered office for the time being or at any address of the Issuer in Great Britain at which process may be
served on it in accordance with Part XXIII of the Companies Act 1985. If such person is not or ceases to be effectively appointed to accept service of process on behalf of the Issuer or the Guarantor (as the case may be), the Issuer or the Guarantor
shall, on the written demand of the Dealer addressed and delivered to the Issuer or the Guarantor appoint a further person in England to accept service of process on its behalf and, failing such appointment within 15 days, the Dealer shall be
entitled to appoint such a person by written notice addressed to the Issuer or the Guarantor and delivered to the Issuer or the Guarantor (as the case may be). Nothing in this paragraph shall affect the right of the Dealer to serve process in any
other manner permitted by law. This clause applies to Proceedings in England and to Proceedings elsewhere. 
  

	10.6	Counterparts 

 This Agreement may be signed in any
number of counterparts (including facsimile copies), all of which when taken together shall constitute a single agreement. 
 AS WITNESS the hands of
the duly authorised representatives of the parties hereto the day and year first before written. 
  

 - 17 - 

 SCHEDULE 1 
 CONDITION PRECEDENT DOCUMENTS 
  

	1.	Certified copies of the Issuer’s and Guarantor’s certificate of incorporation, as amended, and amended and restated by by-laws. 

  

	2.	Certified copies of all documents evidencing the internal authorisations and approvals required to be granted by the Issuer and the Guarantor in connection with the Programme.

  

	3.	Certified or conformed copies of: 

  

	 	(a)	the Dealer Agreement, as executed; 

  

	 	(b)	the Agency Agreement, as executed; 

  

	 	(c)	the Deed of Covenant, as executed; and 

  

	 	(d)	the Guarantee, as executed. 

  

	4.	Copies of: 

  

	 	(a)	the confirmation of acceptance of appointment from the agent for service of process; and 

  

	 	(b)	the confirmation that the Deed of Covenant and the Guarantee have been delivered to the Issuing and Paying Agent. 

  

	5.	Legal opinions from: 

  

	 	(a)	Wilmer Cutler Pickering Hale and Dorr LLP, counsel to the Guarantor as to the laws of the State of incorporation of the Guarantor; 

  

	 	(b)	Arendt & Medernach, counsel to the Issuer as to the laws of Luxembourg; and 

  

	 	(c)	Clifford Chance LLP, counsel to the Dealer as to the laws of England. 

  

	6.	The Information Memorandum. 

  

	7.	A list of the names, titles and specimen signatures of the persons authorised: 

  

	 	(a)	to sign on behalf of the Issuer and the Guarantor (as applicable), the Notes and Agreements to which they are a party; 

  

	 	(b)	to sign on behalf of each of the Issuer and the Guarantor all notices and other documents to be delivered in connection therewith; and 

  

	 	(c)	to take any other action on behalf of the Issuer and the Guarantor in relation to the Programme. 

  

 - 18 - 

	8.	Confirmation from the Issuer or the Issuing and Paying Agent that the relevant forms of Global Note have been prepared and the same delivered to the Issuing and Paying Agent.

  

	9.	Confirmation that Standard & Poor’s Ratings Services, a division of the McGraw-Hill Companies Inc. and Moody’s Investors Service, Inc. respectively have granted
ratings for the Programme. 

  

 19 

 SCHEDULE 2 
 SELLING RESTRICTIONS 
  

	1.	General 

 By its purchase and acceptance of Notes
issued under this Agreement, the Dealer represents, warrants and agrees that it will observe all applicable laws and regulations in any jurisdiction in which it may offer, sell, or deliver Notes; and that it will not directly or indirectly offer,
sell, resell, reoffer or deliver Notes or distribute any Disclosure Document, circular, advertisement or other offering material in any country or jurisdiction except under circumstances that will result, to the best of its knowledge and belief, in
compliance with all applicable laws and regulations. 
 No action has been or will be taken in any jurisdiction by the Issuer, the Guarantor,
the Arranger or the Dealer that would permit a public offering of Notes, or possession or distribution of the Information Memorandum or any other offering material, in any county or jurisdiction where action for that purpose is required. 

 

	2.	The United States of America 

  

	2.1	Regulation S Restrictions 

 The Notes and the
Guarantee have not been and will not be registered under the Securities Act and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons. The Dealer represents and agrees that it has offered and sold,
and will offer and sell, Notes only outside the United States to non-U.S. persons in accordance with Rule 903 of Regulation S under the Securities Act. Accordingly, the Dealer represents and agrees that neither it, its affiliates nor any
persons acting on its or their behalf have engaged or will engage in any directed selling efforts with respect to the Notes, and that it and they have complied and will comply with the offering restrictions requirement of Regulation S. The
Dealer also agrees that, at or prior to confirmation of sale of Notes, it will have sent to each distributor, dealer or person receiving a selling concession, fee or other remuneration that purchases Notes from it a confirmation or notice to
substantially the following effect: 
 “The Securities covered hereby have not been registered under the U.S. Securities Act of 1933 (the
“Securities Act”) and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons. Terms used above have the meanings given to them by Regulation S under the Securities Act.”

 Terms used in this paragraph have the meanings given to them by Regulation S under the Securities Act. 
  

 - 20 - 

	2.2	Tax Restrictions 

  

	 	2.2.1	Except to the extent permitted under U.S. Treas. Reg. §1.163-5(c)(2)(i)(D) (the “D Rules”), the Dealer (A) represents that it has not offered or sold, and agrees
that during the restricted period it will not offer or sell, Notes (or interests therein) to a person who is within the United States or its possessions or to a United States person, and (B) represents that it has not delivered and agrees that
it will not deliver within the United States or its possessions definitive Notes that are sold during the restricted period; 

  

	 	2.2.2	the Dealer represents that it has in effect, and agrees that throughout the restricted period it will have in effect, procedures reasonably designed to ensure that its employees and
agents who are directly engaged in selling Notes (or interests therein) are aware that such Notes (or interests therein) may not be offered or sold during the restricted period to a person who is within the United States or its possessions or to a
United States person, except as permitted by the D Rules; 

  

	 	2.2.3	if it is a United States person, the Dealer represents that it is acquiring the Notes (or interests therein) for purposes of resale outside of the United States and its possessions
in connection with their original issue and that if it retains Notes (or interests therein) for its own account, it will only do so in accordance with the requirements of U.S. Treas. Reg. §1.163-5(c)(2)(i)(D)(6); and 

 

	 	2.2.4	with respect to each affiliate of the Dealer that acquires Notes (or interests therein) for the purpose of offering or selling such Notes (or interests therein) during the
restricted period, the Dealer either (A) repeats and confirms the representations and agreements contained in subparagraphs 2.2.1 through 2.2.3 on the affiliate’s behalf or (B) agrees that it will obtain from such affiliate for the
benefit of the Issuer and the Guarantor the representations and agreements contained in subparagraphs 2.2.1 through 2.2.3. 

 Terms used in
this paragraph 2.2 and not defined herein have the meanings given to them by the U.S. Internal Revenue Code and regulations thereunder, including the D Rules. 
  

	3.	The United Kingdom 

 In relation to each issue of
Notes, the Dealer subscribing such Notes represents, warrants and undertakes to the Issuer and the Guarantor that: 
  

	 	3.1	No deposit-taking 

  

	 	3.1.1	it is a person whose ordinary activities involve it in acquiring, holding, managing or disposing of investments (as principal or agent) for the purposes of its business: and

  

	 	3.1.2	it has not offered or sold and will not offer or sell any such Notes other than to persons: 

  

 - 21 - 

	 	(a)	whose ordinary activities involve them in acquiring, holding, managing or disposing of investments (as principal or agent) for the purposes of their businesses; or

  

	 	(b)	who it is reasonable to expect will acquire, hold, manage or dispose of investments (as principal or agent) for the purposes of their businesses, 

 where the issue of the Notes would otherwise constitute a contravention of Section 19 of FSMA by the Issuer and the Guarantor; 
  

	 	3.2	Financial promotion: it has only communicated or caused to be communicated and will only communicate or cause to be communicated any invitation or inducement to engage in
investment activity (within the meaning of section 21 of FSMA) received by it in connection with the issue or sale of any Notes in circumstances in which section 21(1) of FSMA does not apply to the Issuer or the Guarantor; and

  

	 	3.3	General compliance: it has complied and will comply with all applicable provisions of FSMA with respect to anything done by it in relation to any Notes in, from or otherwise
involving the United Kingdom. 

 4. Japan 
 The Notes have not been and will not be registered under the Securities and Exchange Law of Japan and, accordingly, the Dealer undertakes that it will not offer or sell any Notes, directly or indirectly, in Japan or
to, or for the benefit of any Japanese Person or to others for re-offering or resale, directly or indirectly, in Japan or to any Japanese Person expect under circumstances which will result in compliance with all applicable laws, regulations and
guidelines promulgated by the relevant Japanese governmental and regulatory authorities and in effect at the relevant time. For the purposes of this paragraph, “Japanese Person” shall mean any person resident in Japan, including any
corporation or other entity organised under the laws of Japan. 
  

	5.	Luxembourg 

 The Dealer agrees that the Notes may
not be offered or sold to the public in or from the Grand Duchy of Luxembourg unless the requirements of Luxembourg law concerning public offerings and any applicable regulatory requirements and other laws and regulations have been complied with.

  

 - 22 - 

 SCHEDULE 3 
 PROGRAMME SUMMARY 
  

					
	Issuer	  		  	
	Danaher European Finance S.A.
	Address:	  	23, Avenue Monterey, L-2086,
Luxembourg	  	
	Telephone:	  	+ 352 46 61 11 37 53	  	
	Fax:	  	+ 352 46 61611 37 10	  	
	Contact:	  	The Director	  	
			
	Guarantor	  		  	
		
	Danaher Corporation	  	
			
	Address:	  	2099 Pennsylvania Avenue
Washington DC 20006
United States of America	  	
	Telephone:	  	+1 202 828 0850	  	
	Fax:	  	+1 202 828 0860	  	
	Contact:	  	The Treasurer	  	
		
	Dealer and Arranger	  	
		
	Lehman Brothers International (Europe)	  	
	Address:	  	25 Bank Street	  	
		  	London E14 5LE	  	
	Telephone:	  	+ 44 20 7103 8615	  	
	Fax:	  	+ 44 20 7067 9474	  	
	Contact:	  	European Medium Term Notes and Money Markets
		
	Issue and Paying Agent	  	
		
	Deutsche Bank AG, London Branch	  	
			
	Address:	  	Winchester House
1 Great Winchester Street
London EC2N 2DB	  	
	Telephone:	  	+44 20 7545 8000	  	
	Fax:	  	+44 20 7547 3665	  	
	Contact:	  	Trust & Securities Services	  	
			
	Maximum Amount:	  		  	Denominations:
		
	U.S.$2,200,000,000	  	 U.S.$500,000
 €500,000

  

 - 23 - 

					
		  		  	 £100,000
 ¥100,000,000

		  		  	(or other conventionally accepted Denominations in other currencies) provided that the Dollar Equivalent of any Note must be at least U.S.$500,000 determined based on the spot rate of exchange
on the issue date.
			
	Governing Law:	  		  	Form of Notes:
			
	Agreements:	  	English	  	 Exchangeable Global Notes with Definitive Notes available on default or in certain other limited circumstances
  
 Sterling Definitive Notes

			
	Notes:	  	English	  	Notes may be issued at a discount to face value or may bear interest or may be Index Linked Notes
			
	Minimum Term:	  		  	Maximum Term:
			
	One day	  		  	183 days
			
	Clearing Systems:	  		  	Selling Restrictions:
		
	Euroclear Bank S.A./N.V., as operator of the Euroclear system, Euroclear France S.A. as operator of the Euroclear France clearing system, Clearstream Banking, société
anonyme, Luxembourg (or such other recognised clearing system as may be agreed between the Issuer and the Issuing and Paying Agent and in which Notes may from time to time be held)	  	 U.S.A.
 United Kingdom
 Japan
 Luxembourg

  

 - 24 - 

 Agent for Service of Process: 
 Veeder-Root Finance Company 
  

			
	Address:	  	 Hydrex House
 Garden Road
 Richmond
 Surrey
 TW9 4NR
 United Kingdom

		
	Telephone:	  	+44 19 3277 3820
	Fax:	  	+44 19 3278 9540
	Contact:	  	Vice President and Manager, Corporate Finance

  

 - 25 - 

 SCHEDULE 4 
 INCREASE OF MAXIMUM AMOUNT 
 [Letterhead
of Issuer] 
 [Date] 
  

	To:	[•] (as Dealer) 

 [•] (as Issuing and Paying
Agent) 
 Dear Sirs 
 U.S.$
• Euro-commercial paper programme 
 We refer to a dealer agreement dated [•] May 2006 (the “Dealer Agreement”) between
ourselves as the Issuer, Danaher Corporation as the Guarantor, the Arranger and you as Dealer relating to a U.S.$ 2,200,000,000 Euro-commercial paper programme (the “Programme”). Terms used in the Dealer Agreement shall have the
same meaning in this letter. 
 In accordance with Clause 2.5 of the Dealer Agreement, we hereby notify each of the addressees listed above that the
Maximum Amount of the Programme is to be increased from U.S.$2,200,000,000 to U.S.$[•],000,000,000 with effect from [date], subject to delivery of the following documents: 
  

	(a)	an updated or supplemental Information Memorandum reflecting the increase in the Maximum Amount of the Programme. 

  

	(b)	certified copies of all documents evidencing the internal authorisations and approvals required to be granted by the Issuer and the Guarantor for such increase in the Maximum
Amount; 

  

	(c)	certified copies of [specify any governmental or other consents required by the Issuer or the Guarantor for such increase]; 

  

	(d)	legal opinions from (i) Wilmer Cutler Pickering Hale and Dorr LLP, counsel to the Guarantor, as to the laws of the State of incorporation of the Guarantor,
(ii) Arendt & Medernach, counsel to the Issuer, as to the laws of Luxembourg and (iii) Clifford Chance LLP relating to such increase; 

  

	(e)	a list of names, titles and specimen signatures of the persons authorised to sign on behalf of the Issuer and the Guarantor all notices and other documents to be delivered in
connection with such an increase in the Maximum Amount; and 

  

	(f)	written confirmation that [Standard & Poor’s Ratings Services, a division of the McGraw-Hill Companies Inc.] [Moody’s Investors Service, Inc.] [Fitch IBCA, Inc.]
[Duff & Phelps Credit Rating Co.] respectively are maintaining their current ratings for the Programme. 

  

 - 26 - 

 From the date on which such increase in the Maximum Amount becomes effective, all references in the Dealer Agreement to
the Maximum Amount or the amount of the Programme shall be construed as references to the increased Maximum Amount as specified herein. 
 Yours faithfully 
  

	
	  
 for and on behalf of

	Danaher European Finance S.A.

  

 - 27 - 

 SCHEDULE 5 
 APPOINTMENT OF NEW DEALER 
 [Letterhead of
Issuer] 
 [Date] 
  

	To:	[Name of new Dealer] 

 Dear Sirs

 U.S.$ 2,200,000,000 Euro-commercial paper programme 
 We
refer to a dealer agreement dated [•] May 2006 (the “Dealer Agreement”) between ourselves as Issuer, Danaher Corporation as the Guarantor, the Arranger and the Dealer relating to a U.S.$ 2,200,000,000 Euro-commercial paper
programme (the “Programme”). Terms used in the Dealer Agreement shall have the same meaning in this letter. 
 In accordance with
Clause 6.2 of the Dealer Agreement, we hereby appoint you as an additional dealer for the Programme upon the terms of the Dealer Agreement with [immediate effect/effect from [date]]. Please confirm acceptance of your appointment upon
such terms by signing and returning to us the enclosed copy of this letter, whereupon you will, in accordance with Clause 6.2 of the Dealer Agreement, become a party to the Dealer Agreement vested with all the authority, rights, powers, duties
and obligations as if originally named as a Dealer thereunder. 
 Yours faithfully 
  

	
	  
 for and on behalf of

	Danaher European Finance S.A.

 [On copy] 
 We hereby confirm acceptance of our appointment as a Dealer upon the terms of the Dealer Agreement referred to above. For the purposes of Clause 8 (Notices), our contact details are as follows: 

 

 - 28 - 

 [Name of Dealer] 
  

					
	Address:	  	[                    ]	 	
			
	Telephone:	  	[                    ]	 	
	Fax:	  	[                    ]	 	
	Telex:	  	[                    ]	 	
	Contact:	  	[                    ]	 	

  

	
	Dated:                     
	
	Signed:
                                        
                                
	                for [Name of new Dealer]

  

 - 29 - 

 SCHEDULE 6 
 FORM OF CALCULATION AGENCY AGREEMENT 
 THIS AGREEMENT is made on [date] 
 BETWEEN 
  

	(1)	DANAHER EUROPEAN FINANCE S.A. (the “Issuer”); 

  

	(2)	DANAHER CORPORATION as guarantor (the “Guarantor”); 

  

	(3)	[CALCULATION AGENT], as the calculation agent appointed pursuant to Clause 6 hereof (the “Calculation Agent”, which expression shall include any
successor thereto). 

 WHEREAS: 
  

	(A)	Under a dealer agreement (as amended, supplemented and/or restated from time to time, the “Dealer Agreement”) dated [•] 2006 and made between the Issuer, the
Guarantor, the Arranger and the Dealer referred to therein, and an issuing and paying agency agreement (as amended, supplemented and/or restated from time to time, the “Agency Agreement”) dated [•] 2006 and made between the
Issuer and the agents referred to therein, the Issuer established a Euro-commercial paper programme (the “Programme”). 

  

	(B)	The Dealer Agreement contemplates, among other things, the issue under the Programme of index linked notes and provides for the appointment of calculation agents in relation
thereto. Each such calculation agent’s appointment shall be on substantially the terms and subject to the conditions of this Agreement. 

 IT IS AGREED as follows: 
  

	1.	INTERPRETATION 

  

	1.1	Definitions 

 Terms not expressly defined herein
shall have the meanings given to them in the Dealer Agreement or the Agency Agreement. 
  

	1.2	Legislation 

 Any reference in this Agreement to any
legislation (whether primary legislation or regulations or other subsidiary legislation made pursuant to primary legislation) shall be construed as a reference to such legislation as the same may have been, or may from time to time be, amended or
re-enacted. 
  

	1.3	Index Linked Notes 

 “Relevant Index Linked
Notes” means such Index Linked Notes in respect of which the Calculation Agent is appointed. 
  

 - 30 - 

	2.	APPOINTMENT OF CALCULATION AGENT 

 The Issuer
appoints the Calculation Agent as its agent for the purpose of calculating the redemption amount and/or, if applicable, the amount of interest in respect of the Relevant Index Linked Notes upon the terms and subject to the conditions of this
Agreement. The Calculation Agent accepts such appointment. 
  

	3.	DETERMINATION AND NOTIFICATION 

  

	3.1	Determination 

 The Calculation Agent shall
determine the redemption amount of, and/or, if applicable, the amount of interest payable on, each Relevant Index Linked Note in accordance with the redemption and/or interest calculation applicable thereto. 
  

	3.2	Notification 

 The Calculation Agent shall as soon
as it has made its determination as provided for in Clause 3.1 above (and, in any event, no later than the close of business on the date on which the determination is made) notify the Issuer and the Issuing and Paying Agent (if other than the
Calculation Agent) of the redemption amount and/or, if applicable, the amount of interest so payable. 
  

	4.	STAMP DUTIES 

 The Issuer will pay all stamp,
registration and other taxes and duties (including any interest and penalties thereon or in connection therewith) payable in connection with the execution, delivery and performance of this Agreement. 
  

	5.	INDEMNITY AND LIABILITY 

  

	5.1	Indemnity 

 The Issuer shall indemnify and hold
harmless on demand the Calculation Agent against any claim, demand, action, liability, damages, cost, loss or expense (including, without limitation, reasonable legal fees and any applicable value added tax) which it may incur arising out of, in
connection with or based upon the exercise of its powers and duties as Calculation Agent under this Agreement, except such as may result from its own negligence or bad faith or that of its officers, employees or agents. 
  

	5.2	Liability 

 The Calculation Agent may consult as to
legal matters with lawyers selected by it, who may be employees of, or lawyers to, the Issuer. If such consultation is made, the Calculation Agent shall be protected and shall incur no liability for action taken or not taken by it as Calculation
Agent or suffered to be taken with respect to such matters in good faith, without negligence and in accordance with the opinion of such lawyers. 
  

 - 31 - 

	6.	CONDITIONS OF APPOINTMENT 

 The Calculation Agent
and the Issuer agree that its appointment will be subject to the following conditions: 
  

	 	(a)	No obligations: in acting under this Agreement, the Calculation Agent shall act as an independent expert and shall not assume any obligations towards or relationship of
agency or trust for the Issuer or the owner or holder of any of the Relevant Index Linked Notes or any interest therein; 

  

	 	(b)	Notices: unless otherwise specifically provided in this Agreement, any order, certificate, notice, request, direction or other communication from the Issuer made or given
under any provision of this Agreement shall be sufficient if signed or purported to be signed by a duly authorised employee of the Issuer; 

  

	 	(c)	Duties: the Calculation Agent shall be obliged to perform only those duties which are set out in this Agreement and in the redemption and/or interest calculation relating to
the Relevant Index Linked Notes; 

  

	 	(d)	Ownership, interest: the Calculation Agent and its officers and employees, in its individual or any other capacity, may become the owner of, or acquire any interest in, any
Relevant Index Linked Notes with the same rights that the Calculation Agent would have if it were not the Calculation Agent hereunder; and 

  

	 	(e)	Calculations and determinations: all calculations and determinations made pursuant to this Agreement by the Calculation Agent shall (save in the case of manifest error) be
binding on the Issuer, the Calculation Agent and (if other than the Calculation Agent) the holder(s) of the Relevant Index Linked Notes and no liability to such holder(s) shall attach to the Calculation Agent in connection with the exercise by the
Calculation Agent of its powers, duties or discretion under or in respect of the Relevant Index Linked Notes in accordance with the provisions of this Agreement, except such as may result from the Calculation Agent’s own negligence or bad faith
or that of its officers, employees or agents. 

  

	7.	ALTERNATIVE APPOINTMENT 

 If, for any reason, the
Calculation Agent ceases to act as such or fails to comply with its obligations under Clause 3, the Issuer shall appoint the Issuing and Paying Agent as calculation agent in respect of the Relevant Index Linked Notes. 
  

	8.	THIRD PARTY RIGHTS 

 A person who is not a party to
this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Agreement. 
  

	9.	NOTICES 

 Clause 8 (Notices) of the Dealer
Agreement shall apply to this Agreement mutatis mutandis. 
  

 - 32 - 

	10.	LAW AND JURISDICTION 

  

	10.1	Governing law 

 This Agreement and all matters
arising from or connected with it are governed by, and shall be construed in accordance with, English law. 
  

	10.2	English courts 

 The courts of England have
exclusive jurisdiction to settle any dispute (a “Dispute”), arising from or connected with this Agreement (including a dispute regarding the existence, validity or termination of this Agreement) or the consequences of its nullity.

  

	10.3	Appropriate forum 

 The parties agree that the
courts of England are the most appropriate and convenient courts to settle any Dispute and, accordingly, that they will not argue to the contrary. 
  

	10.4	Rights of the Calculation Agent to take proceedings outside England 

 Clause 10.2 is for the benefit of the Calculation Agent only. As a result, nothing in this Clause 10 prevents the Calculation Agent from taking proceedings relating to a Dispute (“Proceedings”) in any
other courts with jurisdiction. To the extent allowed by law, the Calculation Agent may take concurrent Proceedings in any number of jurisdictions. 
  

	10.5	Process agent 

 The Issuer and the Guarantor agree
that the documents which start any Proceedings and any other documents required to be served in relation to those Proceedings may be served on it by being delivered to Vedeer Root Finance Company at Hydrex House, Garden Road, Richmond, Surrey TW9
4NR, United Kingdom for the attention of the Vice President and the Managers, Corporate Finance or, if different, its registered office for the time being or at any address of the Issuer or the Guarantor in Great Britain at which process may be
served on it in accordance with Part XXIII of the Companies Act 1985. If such person is not or ceases to be effectively appointed to accept service of process on behalf of the Issuer or the Guarantor, the Issuer or the Guarantor, as the case may be,
shall, on the written demand of the Dealer addressed and delivered to the Issuer or the Guarantor appoint a further person in England to accept service of process on its behalf and, failing such appointment within 15 days, the Dealer shall be
entitled to appoint such a person by written notice addressed to the Issuer or the Guarantor and delivered to the Issuer or the Guarantor, as the case may be. Nothing in this paragraph shall affect the right of the Dealer to serve process in any
other manner permitted by law. This clause applies to Proceedings in England and to Proceedings elsewhere. 
  

	11.	COUNTERPARTS 

 This Agreement may be signed in any
number of counterparts (including facsimile copies), all of which when taken together shall constitute a single agreement. 
 AS WITNESS the hands of the duly authorised representatives of the parties hereto the day and year first before written. 
  

 - 33 - 

			
	DANAHER EUROPEAN FINANCE S.A.
		
	By:	 	  

	
	DANAHER CORPORATION
		
	By:	 	  

	
	[NAME OF CALCULATION AGENT]
		
	By:	 	  

  

 - 34 - 

 Signature Page 
  

			
	The Issuer
	
	DANAHER EUROPEAN FINANCE S.A.
		
	By:	 	 /s/ Frank T. McFaden

	
	The Guarantor
	
	DANAHER CORPORATION
		
	By:	 	 /s/ Frank T. McFaden

	
	The Arranger
	
	LEHMAN BROTHERS INTERNATIONAL (EUROPE)
		
	By:	 	 /s/ Sarah McMorrow

	
	The Dealer
	
	LEHMAN BROTHERS INTERNATIONAL (EUROPE)
		
	By:	 	 /s/ Sarah McMorrow

  

 - 35 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]