Document:

Exhibit 10.9

 Exhibit 10.9 
 DANAHER CORPORATION 
 1998 STOCK OPTION PLAN 
 Effective as of May 5, 1998 
 Amended as of May 1, 2001 
 Amended as of July 23, 2003 
 Amended and
Restated May 4, 2004 
 Amended as of May 4, 2005 
 Amended and Restated Effective as of January 1, 2009 
  

			
	PURPOSE	  	Danaher Corporation, a Delaware corporation (“Danaher” or the “Company”), wishes to recruit, reward, and retain key employees and outside
directors. To further these objectives, the Company hereby sets forth the Danaher Corporation 1998 Stock Option Plan (the “Plan”), effective as of May 5, 1998, amended May 1, 2001, amended as of July 23, 2003,
and amended and restated May 4, 2004, to provide options (“Options”) to employees to purchase shares of the Company’s common stock (the “Common Stock”). The Company may also make direct
grants of Common Stock (“Restricted Stock Grants”) to participants as a bonus or other incentive or grant such stock in lieu of Company obligations to pay cash under other plans or compensatory arrangements, including any
deferred compensation plans, and may also grant stock appreciation rights (“SARs”), restricted stock units (“RSUs”), and other stock-based awards (“Other Stock-Based Awards”).
Grants of the various equity-related instruments are “Awards.” The Plan constitutes an amendment to, and substitution for, the Danaher Corporation 1987 Stock Option Plan (the “1987
Plan”).
		
	PARTICIPANTS	  	All Employees and non-Employee directors (“Eligible Directors”) of Danaher and Eligible Subsidiaries are eligible for Awards under this Plan. Eligible employees and
directors become “optionees” or “recipients” when the Administrator grants them, respectively, an Option or one of the other Awards under this Plan. Optionees and recipients are referred to
collectively as “participants.” The term “participant” also includes, where appropriate, a person authorized to exercise an Option or hold or receive another Award in place of the intended original
recipient.
		
		  	“Employee” means any person employed as a common law employee of the Company or an Eligible Subsidiary.
		
	ADMINISTRATOR	  	The Administrator will be the Compensation Committee of the Board of Directors of Danaher (the “Compensation Committee”), unless the Board specifies another committee.
The Board may also act under the Plan as though it were the Compensation Committee.

			
		  	The Administrator is responsible for the general operation and administration of the Plan and for carrying out its provisions and has full discretion in interpreting and administering the
provisions of the Plan. Subject to the express provisions of the Plan, the Administrator may exercise such powers and authority of the Board as the Administrator may find necessary or appropriate to carry out its functions. The Administrator may
delegate its functions (other than those described in the GRANTING OF AWARDS section) to officers or employees.
		
		  	The Administrator’s powers will include, but not be limited to, the power to amend, waive, or extend any provision or limitation of any Award. The Administrator may act through meetings of
a majority of its members or by unanimous consent.
		
	GRANTING OF AWARDS	  	Subject to the terms of the Plan, the Administrator will, in its sole discretion, determine
		
		  	 the recipients of Awards,

		
		  	 the terms of such Awards,

		
		  	 the schedule for exercisability and nonforfeitability (including any requirements that the participant or the Company satisfy performance criteria or
Performance Objectives),

		
		  	 the time and conditions for expiration of the Awards, and

		
		  	 the form of payment due upon exercise or grant.

		
		  	The Administrator’s determinations under the Plan need not be uniform and need not consider whether possible participants are similarly situated.
		
		  	Options granted to employees are not intended to qualify as “incentive stock options” (“ISOs”) within the meaning of Section 422 of the
Internal Revenue Code of 1986, as amended from time to time (the “Code”), or the corresponding provision of any subsequently enacted tax statute. The Administrator may not reduce the Exercise Price of any outstanding Option,
other than as provided under Adjustments upon Changes in Capital Stock. Subject to the foregoing, the Administrator may set whatever conditions it considers appropriate for the Awards.

  

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	Substitutions	  	The Administrator may also grant Awards in substitution for options or other equity interests held by individuals who become Employees of the Company or of an Eligible Subsidiary as a result
of the Company’s acquiring or merging with the individual’s employer. If necessary to conform the Awards to the interests for which they are substitutes, the Administrator may grant substitute Awards under terms and conditions that vary
from those the Plan otherwise requires.
		
	DATE OF GRANT	  	The “Date of Grant” will be the date as of which the Administrator grants an Award to a person, as specified in the Administrator’s minutes.
		
	EXERCISE PRICE	  	The “Exercise Price” is the value of the consideration that a participant must provide in exchange for one share of Common Stock. The Administrator will determine the
Exercise Price under each Option and may set the Exercise Price without regard to the Exercise Price of any other Options granted at the same or any other time. The Company may use the consideration it receives from the optionee for general
corporate purposes.
		
		  	The Exercise Price per share for the Options may not be less than 100% of the Fair Market Value of a share on the Date of Grant.
		
		  	The Administrator may satisfy any state law requirements regarding adequate consideration for Restricted Stock Grants by (i) issuing Common Stock held as treasury stock or repurchased on
the open market or (ii) charging the recipients at least the par value for the shares covered by the Restricted Stock Grant.
		
	Fair Market Value	  	“Fair Market Value” of a share of Common Stock for purposes of the Plan will be determined as follows:
		
		  	 if the Common Stock is traded on a national securities exchange, the closing sale price on that date;

		
		  	 if the Common Stock is not traded on any such exchange, the closing sale price as reported by the National Association of Securities Dealers, Inc. Automated
Quotation System (“Nasdaq”) for such date;

		
		  	 if no such closing sale price information is available, the average of the closing bid and asked prices as reported by Nasdaq for such date;
or

  

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		  	 if there are no such closing bid and asked prices, the average of the closing bid and asked prices as reported by any other commercial service for such date.

		
		  	For any date that is not a trading day, the Fair Market Value of a share of Common Stock for such date shall be determined by using the closing sale price or the average of the closing bid
and asked prices, as appropriate, for the immediately preceding trading day.
		
	EXERCISABILITY	  	The Administrator will determine the times and conditions for exercise or retention of each Award but may not extend the period for exercise of an Option or SAR beyond the tenth anniversary
of its Date of Grant.
		
		  	Awards will become exercisable or nonforfeitable at such times and in such manner as the Administrator determines and the Award Certificate indicates; provided, however, that the
Administrator may, on such terms and conditions as it determines appropriate, accelerate the time at which the participant may exercise any portion of an Option or at which restrictions or other conditions on other Awards will
lapse.
		
		  	If the Administrator does not specify otherwise, Options for Employees will become exercisable and restrictions on other Awards will lapse as to one-fifth of the covered shares on each of the
first five anniversaries of the Date of Grant, and Options for Eligible Directors will become exercisable in full as of the Date of Grant. Subject to the section below entitled “Award Expiration,” unless the Administrator provides
otherwise, the passage of time after a participant’s Retirement will continue to count for purposes of determining the extent to which an Award is exercisable or nonforfeitable.
		
		  	No portion of an Award that is unexercisable or forfeitable at a participant’s termination of employment for any reason other than Retirement (as defined below) will thereafter become
exercisable or nonforfeitable, unless the Award Certificate provides otherwise, either initially or by amendment. All unexpired Awards become fully exercisable or nonforfeitable, as applicable, at age 65 irrespective of whether the person then
retires, except Awards the Compensation Committee designates are covered by Performance Objectives for purposes of Code Section 162(m).
		
		  	Any RSU Award shall be paid in a lump sum in shares within 30 days of the later of the date on which the Administrator (or the Compensation Committee, as the case may be) determines that (i)
the participant has satisfied the Award’s time-based vesting requirements, and (ii) if applicable, the Performance Criteria for such RSU Award has been satisfied.

  

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	METHOD OF EXERCISE	  	To exercise any exercisable portion of an Award, the participant must:
		
		  	 Deliver a written notice of exercise to the Secretary of the Company (or to whomever the Administrator designates), in a form complying with any rules the
Administrator may issue, signed by the participant, and specifying the number of shares of Common Stock underlying the portion of the Award the participant is exercising;

		
		  	 Pay the full Exercise Price (if any) by cashier’s or certified check for the shares of Common Stock with respect to which the Award is being exercised,
unless the Administrator consents to another form of payment (which could include the use of Common Stock); and

		
		  	 Deliver to the Secretary of the Company (or to whomever the Administrator designates) such representations and documents as the Administrator, in its sole
discretion, may consider necessary or advisable.

		
		  	Payment in full of the Exercise Price need not accompany the written notice of exercise provided the notice directs that the stock certificates for the shares issued upon the exercise be
delivered to a licensed broker acceptable to the Company as the agent for the individual exercising the option and at the time the stock certificates are delivered to the broker, the broker will tender to the Company cash or cash equivalents
acceptable to the Company and equal to the Exercise Price.
		
		  	If the Administrator agrees to payment through the tender to the Company of shares of Common Stock, the individual must have held the stock being tendered for at least six months at the time
of surrender. Shares of stock offered as payment will be valued, for purposes of determining the extent to which the optionee has paid the Exercise Price, at their Fair Market Value on the date of exercise. The Administrator may also, in its
discretion, accept attestation of ownership of Common Stock and issue a net number of shares upon Option exercise.

  

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	AWARD EXPIRATION	  	No one may exercise an Option or exercisable Award more than ten years after its Date of Grant. Unless the Award Certificate provides otherwise, either initially or by amendment, no one may
exercise an exercisable Award (and any otherwise nonforfeitable portions of the exercisable Awards will then expire) after the first to occur of:
		
	 Employment Termination
	  	 The 30th day after the date of termination of employment (other than for death, Disability, or Retirement), where termination of employment means the time when
the employer-employee or other service-providing relationship between the employee and the Company ends for any reason, including retirement. Unless the Award Certificate provides otherwise, termination of employment does not include instances in
which the Company immediately rehires a common law employee as an independent contractor. The Administrator, in its sole discretion, will determine all questions of whether particular terminations or leaves of absence are terminations of employment;

		
	 Retirement
	  	 For either Early or Normal Retirement (both as defined below and both collectively referred to as “Retirement”), the fifth anniversary
of Retirement. Solely for purposes of this Plan, “Normal Retirement” occurs on the date an employee voluntarily ceases to be an Employee at or after reaching age 65, and “Early Retirement” occurs on
the date an employee voluntarily ceases to be an Employee if both (i) the employment termination occurs before the Employee reaches age 65 and (ii) the Administrator determines that the cessation constituted “retirement” for purposes of
this Plan. In deciding whether a termination of employment is an Early Retirement, the Administrator need not consider the definition under any other Company Plan;

		
	 Gross Misconduct
	  	 For the Company’s termination of the participant’s employment as a result of the participant’s Gross Misconduct, the time of such termination.
For purposes of this Plan, “Gross Misconduct” means the participant has

		
		  	 (i) committed fraud, misappropriation, embezzlement, willful misconduct or gross negligence with respect to the Company or any Subsidiary thereof, or any other
action in willful disregard of the interests of the Company or any Subsidiary thereof;

  

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		  	 (ii) been convicted of, or pled guilty or no contest to, (1) a felony, (2) any misdemeanor (other than a traffic violation) with respect to his/her employment,
or (3) any other crime or activity that would impair his/her ability to perform his/her duties or impair the business reputation of the Company or any Subsidiary thereof;

		
		  	 (iii) refused or willfully failed to adequately perform any duties assigned to him/her; or

		
		  	 (iv) refused or willfully failed to comply with standards, policies or procedures of the Company or any Subsidiary thereof, including without limitation the
Company’s Standard of Conduct as amended from time to time.

		
	 Disability
	  	 For disability, the earlier of (i) the first anniversary of the participant’s termination of employment for disability and (ii) 60 days after the
participant no longer has a disability, where “disability” means the inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result
in death or that has lasted or can be expected to last for a continuous period of not less than twelve months; or

		
	 Death
	  	 The date 12 months after the participant’s death.

		
		  	If exercise is permitted after termination of employment, the Award will nevertheless expire as of the date that the former employee violates any covenant not to compete or any other
post—employment covenant (including without limitation any nonsolicitation, nonpiracy of employees, nondisclosure, nondisparagement, works-made-for-hire or similar covenants) in effect between the Company and any Subsidiary thereof, on the one
hand, and the former employee on the other hand.
		
		  	Nothing in this Plan extends the term of an Award beyond the tenth anniversary of its Date of Grant, nor does anything in this AWARD EXPIRATION section make an Award exercisable or
nonforfeitable that has not otherwise become exercisable or nonforfeitable.
		
	AWARD CERTIFICATES	  	Award Certificates will set forth the terms of each Award and will include such terms and conditions, consistent with the Plan, as the Administrator may determine are necessary or advisable.
To the extent the certificate is inconsistent with the Plan, the Plan will govern. The Award Certificates may contain special rules. The Administrator may, in its discretion, require Award agreements rather than certificates.

  

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	 STOCK APPRECIATION
 RIGHTS
	  	A SAR represents the right to receive a payment, in cash, shares of Common Stock or both (as determined by the Administrator), equal to the excess of the Fair Market Value on the date the SAR
is exercised over the SAR’s Exercise Price, if any. The Administrator will establish in its sole discretion the exercise price of a SAR and all other applicable terms and conditions, which will be set forth in the applicable Award Certificate
or Award agreement.
		
	OTHER STOCK-BASED AWARDS	  	The Administrator may grant RSUs and Other Stock-Based Awards that are denominated in, valued in whole or in part by reference to, or otherwise based on or related to, Common Stock. The
purchase, exercise, exchange or conversion of RSUs and Other Stock-Based Awards and all other terms and conditions applicable to the Awards will be determined by the Administrator in its sole discretion and will be set forth in the applicable Award
Certificate or Award agreement.
		
	STOCK SUBJECT TO PLAN	  	Except as adjusted below under CORPORATE CHANGES, the aggregate number of shares of Common Stock that may be issued under the Awards may not exceed 60 million shares and the maximum number of
shares that may be subject to any and all Awards, in the aggregate, for a single individual may not exceed 10 million shares. No Award that the Committee determines is subject to Performance Objectives for purposes of Code Section 162(m) may
pay or cover in excess of 10 million shares of Common Stock or the cash value equivalent to that number of shares. The Common Stock may come from treasury shares, authorized but unissued shares, or previously issued shares that the Company
reacquires, including shares it purchases on the open market. If any Award expires, is canceled, or terminates for any other reason, the shares of Common Stock available under that Award will again be available for the granting of new
Awards.
		
		  	No adjustment will be made for a dividend or other right for which the record date precedes the date of exercise.
		
		  	The participant will have no rights of a stockholder with respect to the shares of stock subject to an Award except to the extent that the Company has issued certificates for, or otherwise
confirmed ownership of, such shares upon the exercise or, as applicable, the grant or nonforfeitability of an Award.

  

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		  	The Company will not issue fractional shares pursuant to the exercise of an Award. Any fractional share will be rounded up and issued to the participant in a whole share.
		
	PERSON WHO MAY EXERCISE	  	During the participant’s lifetime and except as provided under TRANSFERS, ASSIGNMENTS, AND PLEDGES, only the participant or his/her duly appointed guardian or personal representative may
exercise or hold an Award (other than nonforfeitable shares of Common Stock). After his/her death, his/her personal representative or any other person authorized under a will or under the laws of descent and distribution may exercise any then
exercisable portion of an Award or hold any then nonforfeitable portion of any Award. If someone other than the original recipient seeks to exercise or hold any portion of an Award, the Administrator may request such proof as it may consider
necessary or appropriate of the person’s right to exercise or hold the Award.
		
	PERFORMANCE RULES	  	Subject to the terms of the Plan, the Committee will have the authority to establish and administer Performance Objectives with respect to such Awards as it considers appropriate, which
Performance Objectives must be satisfied, as the Committee specifies, before the participant receives or retains an Award or before the Award becomes nonforfeitable or exercisable.
		
		  	Performance Objectives will be based exclusively on one or more of the following financial measures determined based on the Company and its Subsidiaries on a group-wide basis or on the basis
of parent, Subsidiary, division, business platform, or operating unit results:
		
		  	 earnings per share (on a fully diluted or other basis)

		
		  	 pretax or after tax net income,

		
		  	 operating income,

		
		  	 gross revenue,

		
		  	 profit margin,

		
		  	 stock price targets or stock price maintenance,

		
		  	 free cash flow,

		
		  	 cash flow,

		
		  	 return on equity,

		
		  	 return on capital,

  

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		  	 earnings before interest, taxes, depreciation, and amortization (EBITDA),

		
		  	 strategic business criteria, consisting of one or more objectives based on meeting specified revenue, market penetration,
geographic business expansion goals, cost targets, or objective goals relating to acquisitions or divestitures,
  
 or any combination of these measures (in each case before or after such objective income and expense allocations or adjustments as the Committee may
specify within the Applicable Period).

		
		  	The Committee shall determine whether such Performance Objectives are attained, and such determination will be final and conclusive.
		
		  	Each Performance Objective may be expressed in absolute and/or relative terms, may be based on or use comparisons with current internal targets, the past performance of the Company (including
the performance of one or more Subsidiaries, divisions, business platforms, and/or operating units) and/or the past or current performance of other companies. In the case of earnings-based measures, Performance Objectives may use comparisons
relating to capital (including, but not limited to, the cost of capital), shareholders’ equity and/or shares outstanding, or to assets or net assets.
		
		  	The provisions governing the grants of Options and SARs and the establishment of Performance Objectives for other Awards are intended to conform with all provisions of Code
Section 162(m) and Treas. Reg. § 1.162-27 to the extent necessary to allow the Company a Federal income tax deduction for Awards as “qualified performance based compensation,” provided that Committee retains the discretion
whether to make Awards that do not so qualify. The Committee also retains the discretion to specify that it can adjust an Award payout downwards (to the extent permitted by the foregoing tax rules) under such factors as it considers appropriate.

		
		  	The measures used in setting Performance Objectives under the Plan for any given performance period will, to the extent applicable, be determined in accordance with generally accepted
accounting principles (“GAAP”) and in a manner consistent with the methods used in the Company’s audited financial statements, without regard to (i) extraordinary or nonrecurring items in accordance with GAAP, (ii) changes
in accounting, or (iii) the effect of discontinued operations, unless, in each of clauses (i)-(iii), the Committee decides otherwise within the Applicable Period.

  

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		  	The “Applicable Period” with respect to any performance period for an Award means a period beginning on or before the first day of the performance period and ending no later
than the earlier of (i) the 90th day of the performance period or (ii) the date on which 25% of the performance period has been completed.
		
	ADJUSTMENTS UPON CHANGES IN CAPITAL STOCK	  	Subject to any required action by the Company (which it shall promptly take) or its stockholders, and subject to the provisions of applicable corporate law, if, after the Date of Grant of an
Award,
		  	 the outstanding shares of Common Stock increase or decrease or change into or are exchanged for a different number or kind of security by reason of any
recapitalization, reclassification, stock split, reverse stock split, combination of shares, exchange of shares, stock dividend, or other distribution payable in capital stock, or

		
		  	 some other increase or decrease in such Common Stock occurs without the Company’s receiving consideration,

		
		  	the Administrator will make a proportionate and appropriate adjustment in the number of shares of Common Stock underlying each Award, so that the proportionate interest of the participant
immediately following such event will, to the extent practicable, be the same as immediately before such event. Unless the Administrator determines another method would be appropriate, any such adjustment to an Option will not change the total price
with respect to shares of Common Stock underlying the unexercised portion of an Option or SAR but will include a corresponding proportionate adjustment in the Option’s or SAR’s Exercise Price.
		
		  	The Administrator will make a commensurate change to the maximum number and kind of shares provided in the STOCK SUBJECT TO PLAN section.
		
		  	In the event of a declaration of an extraordinary dividend on the Common Stock payable in a form other than Common Stock in an amount that has a material effect on the price of the Common Stock,
the Administrator shall make such adjustments as it, in its sole discretion, deems appropriate in the outstanding Awards and the maximum number of shares provided in the Stock Subject to Plan section.

  

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		  	Any issue by the Company of any class of preferred stock, or securities convertible into shares of common or preferred stock of any class, will not affect, and no adjustment by reason thereof
will be made with respect to, the number of shares of Common Stock subject to any Award or the Exercise Price except as this ADJUSTMENTS section specifically provides. The grant of an Award under the Plan will not affect in any way the right or
power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, or to merge or to consolidate, or to dissolve, liquidate, sell, or transfer all or any part of its business or
assets.
		
	Substantial Corporate Change	  	Upon a Substantial Corporate Change, the Plan and any forfeitable portions of the Awards will terminate unless provision is made in writing in connection with such transaction for the assumption
or continuation of outstanding Awards, or the substitution for such Awards of any options or grants covering the stock or securities of a successor employer corporation, or a parent or subsidiary of such successor, with appropriate adjustments as to
the number and kind of shares of stock and prices, in which event the Awards will continue in the manner and under the terms so provided.
		
		  	Unless the Board determines otherwise, if an Award would otherwise terminate pursuant to the preceding sentence, the Administrator will either
		
		  	 provide optionees or holders of SARs will have the right, at such time before the consummation of the transaction causing such termination as the Board reasonably
designates, to exercise any unexercised portions of an Option or SAR, whether or not they had previously become exercisable, or

		
		  	 for any Awards, cause the Company, or agree to allow the successor, to cancel each Award after payment to the participant of an amount in cash, cash equivalents,
or successor equity interests substantially equal to the Fair Market Value under the transaction (minus, for Options and SARs, the Exercise Price for the shares covered by the Option or SAR (and for any Awards, where the Board or the Administrator
determines it is appropriate, any required tax withholdings)).

  

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		  	A Substantial Corporate Change means the
		
		  	 dissolution or liquidation of the Company,

		
		  	 merger, consolidation, or reorganization of the Company with one or more corporations in which the Company is not the surviving corporation,

		
		  	 the sale of substantially all of the assets of the Company to another corporation,

		
		  	 or any transaction (including a merger or reorganization in which the Company survives) approved by the Board that results in any person or entity (other than any
affiliate of the Company as defined in Rule 144(a)(1) under the Securities Act) owning 100% of the combined voting power of all classes of stock of the Company.

		
	SUBSIDIARY EMPLOYEES	  	Employees of Company Subsidiaries will be entitled to participate in the Plan, except as otherwise designated by the Board of Directors or the Administrator.
		
		  	“Eligible Subsidiary” means each of the Company’s Subsidiaries, except as the Board otherwise specifies. “Subsidiary” means any corporation,
limited liability company, partnership or other entity (“corporation”) (other than the Company) in an unbroken chain of corporations beginning with the Company if, at the time an Award is granted to a Participant under the
Plan, each of the corporations (other than the last corporation in the unbroken chain) owns stock or other equity possessing 20% or more of the total combined voting power of all classes of stock or equity in one of the other corporations in such
chain.
		
	LEGAL COMPLIANCE	  	The Company will not issue any shares of Common Stock under an Award until all applicable requirements imposed by Federal and state securities and other laws, rules, and regulations, and by any
applicable regulatory agencies or stock exchanges, have been fully met. To that end, the Company may require the participant to take any reasonable action to comply with such requirements before issuing such shares. No provision in the Plan or
action taken under it authorizes any action that is otherwise prohibited by Federal or state laws, rules, or regulations, or by any applicable regulatory agencies or stock exchanges.

  

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		  	The Plan is intended to conform to the extent necessary with all provisions of the Securities Act of 1933 (“Securities Act”) and the Securities Exchange Act of 1934
(“Exchange Act”) and all regulations and rules the Securities and Exchange Commission issues under those laws. Notwithstanding anything in the Plan to the contrary, the Administrator must administer the Plan, and Awards may
be granted and exercised, only in a way that conforms to such laws, rules, and regulations. To the extent permitted by applicable law, the Plan and any Awards will be deemed amended to the extent necessary to conform to such laws, rules, and
regulations.
		
	PURCHASE FOR INVESTMENT AND OTHER RESTRICTIONS	  	Unless a registration statement under the Securities Act covers the shares of Common Stock a participant receives under an Award, the Administrator may require, at the time of such grant and/or
exercise and/or lapse of restrictions, that the participant agree in writing to acquire such shares for investment and not for public resale or distribution, unless and until the shares subject to the Award are registered under the Securities Act.
Unless the shares are registered under the Securities Act, the participant must acknowledge:
		
		  	 that the shares received under the Award are not so registered,

		
		  	 that the participant may not sell or otherwise transfer the shares unless the shares have been registered under the Securities Act in connection with the sale or
transfer thereof, or

		
		  	 counsel satisfactory to the Company has issued an opinion satisfactory to the Company that the sale or other transfer of such shares is exempt from registration
under the Securities Act, and

		
		  	 such sale or transfer complies with all other applicable laws, rules, and regulations, including all applicable Federal and state securities laws, rules, and
regulations.

		
		  	Additionally, the Common Stock, when issued under an Award, will be subject to any other transfer restrictions, rights of first refusal, and rights of repurchase set forth in or incorporated by
reference into other applicable documents, including the Company’s articles or certificate of incorporation, by-laws, or generally applicable stockholders’ agreements.

  

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		  	The Administrator may, in its sole discretion, take whatever additional actions it deems appropriate to comply with such restrictions and applicable laws, including placing legends on
certificates and issuing stop-transfer orders to transfer agents and registrars.
		
	TAX WITHHOLDING	  	The participant must satisfy all applicable Federal, state, and local income and employment tax withholding requirements before the Company will deliver stock certificates or otherwise recognize
ownership or nonforfeitability under an Award. The Company may decide to satisfy the withholding obligations through additional withholding on salary or wages. If the Company does not or cannot withhold from other compensation, the participant must
pay the Company, with a cashier’s check or certified check, the full amounts required for withholding. Payment of withholding obligations is due at the same time as is payment of the Exercise Price or lapse of restrictions, as applicable. If
the Administrator so determines, the participant may instead satisfy the withholding obligations (i) by directing the Company to retain shares from the Option exercise or release of the Award, (ii) by tendering previously owned shares, (iii) by
attesting to his ownership of shares (with the distribution of net shares), or (iv) by having a broker tender to the Company cash equal to the withholding taxes, subject, in each of the first three clauses, to a withholding of no more than the
minimum applicable tax withholding rate.
		
	TRANSFERS, ASSIGNMENTS OR PLEDGES	  	Unless the Administrator otherwise approves in advance in writing or as set forth below, an Award may not be assigned, pledged, or otherwise transferred in any way, whether by operation of law
or otherwise or through any legal or equitable proceedings (including bankruptcy), by the participant to any person, except by will or by operation of applicable laws of descent and distribution. If necessary to comply with Rule 16b-3 under the
Exchange Act, the participant may not transfer or pledge shares of Common Stock acquired under an Award until at least six months have elapsed from (but excluding) the Date of Grant, unless the Administrator approves otherwise in advance in writing.
The Administrator may, in its discretion, expressly provide that a participant may transfer his Award, without receiving consideration, to (i) members of the optionee’s immediate family (children, grandchildren, or spouse), (ii) trusts for the
benefit of such family members, or (iii) partnerships whose only partners are such family members.
		
	AMENDMENT OR TERMINATION OF PLAN AND OPTIONS	  	The Board may amend, suspend, or terminate the Plan at any time, without the consent of the participants or their beneficiaries; provided, however, that no amendment will deprive any participant
or beneficiary of any previously declared Award. Except as required by law or by the CORPORATE CHANGES section, the

  

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		  	Administrator may not, without the participant’s or beneficiary’s consent, modify the terms and conditions of an Award so as to adversely affect the participant. No amendment,
suspension, or termination of the Plan will, without the participant’s or beneficiary’s consent, terminate or adversely affect any right or obligations under any outstanding Awards.
		
	PRIVILEGES OF STOCK OWNERSHIP	  	No participant and no beneficiary or other person claiming under or through such participant will have any right, title, or interest in or to any shares of Common Stock allocated or reserved
under the Plan or subject to any Award except as to such shares of Common Stock, if any, that have been issued to such participant.
		
	EFFECT ON OUTSTANDING OPTIONS	  	All options outstanding under the 1987 Plan will remain subject to the terms of the 1987 Plan before its amendment into this Plan; provided, however, that limitations imposed on such options by
Rule 16b-3 will continue to apply only to the extent Rule 16b-3 so requires.
		
	EFFECT ON OTHER PLANS	  	Whether receiving or exercising an Award causes the participant to accrue or receive additional benefits under any pension or other plan is governed solely by the terms of such other
plan.
		
	LIMITATIONS ON LIABILITY	  	Notwithstanding any other provisions of the Plan, no individual acting as a director, employee, or agent of the Company shall be liable to any participant, former participant, spouse,
beneficiary, or any other person for any claim, loss, liability, or expense incurred in connection with the Plan, nor shall such individual be personally liable because of any contract or other instrument he executes in such other capacity. The
Company will indemnify and hold harmless each director, employee, or agent of the Company to whom any duty or power relating to the administration or interpretation of the Plan has been or will be delegated, against any cost or expense (including
attorneys’ fees) or liability (including any sum paid in settlement of a claim with the Board’s approval) arising out of any act or omission to act concerning this Plan unless arising out of such person’s own fraud or bad
faith.
		
	NO EMPLOYMENT CONTRACT	  	Nothing contained in this Plan constitutes an employment contract between the Company and the participants. The Plan does not give the participants any right to be retained in the Company’s
employ, nor does it enlarge or diminish the Company’s right to terminate the participant’s employment.
		
	APPLICABLE LAW	  	The laws of the State of Delaware (other than its choice of law provisions) govern this Plan and its interpretation.

  

 - 16 - 

			
		
	DURATION OF PLAN	  	Unless the Board extends the Plan’s term, the Administrator may not grant Awards after May 4, 2008. The Plan will then terminate but will continue to govern unexercised and unexpired
Awards.
		
	CODE SECTION 409A REQUIREMENTS	  	Notwithstanding anything to the contrary in this Plan or any Award agreement, these provisions shall apply to any payments and benefits otherwise payable to or provided to a participant under
this Plan and any Award. For purposes of Code Section 409A, each “payment” (as defined by Code Section 409A) made under this Plan or an Award shall be considered a “separate payment.” In addition, for purposes of Code Section
409A, payments shall be deemed exempt from the definition of deferred compensation under Code Section 409A to the fullest extent possible under (i) the “short-term deferral” exemption of Treasury Regulation § 1.409A-1(b)(4), and (ii)
(with respect to amounts paid as separation pay no later than the second calendar year following the calendar year containing the participant’s “separation from service” (as defined for purposes of Code Section 409A)) the “two
years/two-times” separation pay exemption of Treasury Regulation § 1.409A-1(b)(9)(iii), which are hereby incorporated by reference.
		
		  	If the participant is a “specified employee” as defined in Code Section 409A (and as applied according to procedures of the Company and its affiliates) as of his separation from
service, to the extent any payment under this Plan or an Award constitutes deferred compensation (after taking into account any applicable exemptions from Code Section 409A), and to the extent required by Code Section 409A, no payments due under
this Plan or an Award may be made until the earlier of: (i) the first day of the seventh month following the participant’s separation from service, or (ii) the participant’s date of death; provided, however, that any payments delayed
during this six-month period shall be paid in the aggregate in a lump sum, without interest, on the first day of the seventh month following the participant’s separation from service. If this Plan or any Award fails to meet the requirements of
Code Section 409A, neither the Company nor any of its affiliates shall have any liability for any tax, penalty or interest imposed on the participant by Code Section 409A, and the participant shall have no recourse against the Company or any of its
affiliates for payment of any such tax, penalty or interest imposed by Code Section 409A.

  

 - 17 -Exhibit 10.13

 Exhibit 10.13 
 AMENDED AND RESTATED DANAHER CORPORATION & SUBSIDIARIES 
 EXECUTIVE DEFERRED INCENTIVE
PROGRAM 
 AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2008 

 DANAHER CORPORATION & SUBSIDIARIES 
 EXECUTIVE DEFERRED INCENTIVE PROGRAM 
 WHEREAS, the Plan Sponsor established
this Plan, effective as of March 1, 1995, to further the long-term growth of the Plan Sponsor and its subsidiary Employers by offering deferred compensation in addition to current compensation to a select group of management and highly
compensated employees of the Plan Sponsor and its subsidiary Employers who are involved in such growth; and 
 WHEREAS, under
Section 7.1 of this Plan, the Plan Sponsor has reserved unto itself the right to amend this Plan; and 
 WHEREAS, the Plan Sponsor
previously amended this Plan effective January 1, 1997; and 
 WHEREAS, the Plan Sponsor previously amended and restated this Plan,
generally effective as of August 1, 2003, by modifying the Plan’s design to provide a more competitive retirement benefit for the select group of management and highly compensated employees of the Plan Sponsor and its subsidiary Employers;
and 
 WHEREAS, the Plan Sponsor again amended and restated this Plan, generally effective as of May 15, 2007, except as otherwise
provided, by (i) increasing the number of shares of Common Stock available for issuance hereunder from 1,000,000 to 2,000,000 to adjust for the effect of the two-for-one split of the Common Stock in May 2004, and (ii) incorporating
appropriate anti-dilution provisions to ensure that going forward, the amount of shares of Common Stock available for issuance hereunder is not proportionately reduced as a result of stock splits or other adjustments to the Plan Sponsor’s
capital stock; and 
 WHEREAS, the Plan Sponsor now desires to amend and restate this Plan, generally effective as of January 1, 2008,
except as otherwise provided herein, to comply with Code Section 409A and all formal regulations, rulings, and guidance issued thereunder. 
 NOW, THEREFORE, in order to accomplish such purpose, the Plan Sponsor has adopted, by appropriate resolutions, this amended and restated Plan effective as of January 1, 2008. It is intended that this Plan, together with the Trust
Agreement, shall be unfunded for purposes of the Code and shall constitute an unfunded pension plan maintained for a select group of management and highly compensated employees for purposes of Title I of ERISA. 

 ARTICLE I 
 DEFINITIONS 
 As used in this Plan, each of the following terms shall have the respective meaning set
forth below unless a different meaning is plainly required by the content. 
 1.1 Administrator. The individual or committee appointed
by the Plan Sponsor to administer the Plan pursuant to Article V. 
 1.2 Applicable Percentage. With respect to a Participant for a
Performance Cycle, the applicable percentage determined from the table in Appendix A depending on (a) the Participant’s Target Compensation for the Performance Cycle and (b) the Participant’s exact age on the Cycle Beginning Date
or, if later, the Participant’s Participation Date. Effective January 1, 2004, with respect to a Participant for a Performance Cycle beginning on or after January 1, 2004, the applicable percentage determined from the table in
Appendix A depending on the Participant’s Years of Participation as of the Cycle Beginning Date. 
 1.3 Beneficiary. An
individual or entity entitled to receive any benefits under this Plan that are payable upon a Participant’s death. 
 1.4 Benefit
Account. With respect to a Participant, the account maintained on behalf of the Participant to record any Benefit Amounts and Performance Shares credited thereto or forfeited therefrom, any earnings credited thereto and any losses debited
therefrom in accordance with the terms of this Plan. 
 1.5 Benefit Amount. With respect to a Participant for a Performance Cycle, the
Performance Shares credited pursuant to Section 3.4 and any dollar amounts calculated and credited pursuant to Section 3.4. 
 1.6
Bonus. With respect to a Participant for a Plan Year, the amount (if any) of the Participant’s Target Bonus for the Plan Year that shall be determined to have been earned by the Participant in accordance with the Plan Sponsor’s
bonus program, excluding any amount thereof that shall be contributed on the Participant’s behalf as a Salary Deferral Contribution to the 401(k) Plan. 
 1.7 Bonus Deferral Amount. With respect to a Participant for a Plan Year, an amount of the Participant’s Target Bonus or Bonus for the last preceding Plan Year that the Participant has elected to defer
pursuant to Section 3.3. 
 1.8 Code. The Internal Revenue Code of 1986, as it may be amended from time to time. 
 1.9 Common Stock. The common stock of the Plan Sponsor. 
  

 2 

 1.10 Common Stock Price. With respect to a specified date as of which the price of shares of
Common Stock shall be determined, the closing price on the New York Stock Exchange of one (1) share of Common Stock on the business day last preceding the specified date. Notwithstanding the foregoing, with respect to the calculation of any
Option Gain with respect to any Options exercised by a Participant and the crediting of any Gain Shares to a Participant’s Option Shares Account, the Common Stock Price determined as of any time shall be the most recent closing price on the New
York Stock Exchange of one (1) share of Common Stock. Solely for purposes of documenting administrative practice under the terms of the Plan, in determining the Common Stock Price under this Section 1.10 of the Plan, the terms
“closing price on the New York Stock Exchange” and “most recent closing price on the New York Stock Exchange” shall not be construed to mean the adjusted closing price on the New York Stock Exchange. 
 1.11 Cycle Beginning Date. With respect to a Performance Cycle, the first (1st) day of the Performance Cycle. 
 1.12 Cycle Ending Date. With respect to a Performance Cycle, the last day of the Performance Cycle or, if earlier, the date during the Performance
Cycle as of which this Plan shall terminate. 
 1.13 Deferral Account. With respect to a Participant, the account (if any) maintained
on behalf of the Participant to record the Salary Deferral Amounts (if any) and Bonus Deferral Amounts (if any) that have been credited on the Participant’s behalf and any earnings credited thereto in accordance with the terms of this Plan.

 1.14 Distributable Amount. With respect to any specified date coincident with or subsequent to the Eligibility
Termination Date of a Participant or a deceased Participant, the balance (if any) as of the specified date in the Participant’s Distribution Account (subsequent to any crediting thereof pursuant to Section 3.6 as of such Eligibility
Termination Date). 
 1.15 Distribution Account. With respect to a Participant, the account (if any) maintained on behalf of the
Participant to record the amounts to be distributed to the Participant or his or her Beneficiary or Beneficiaries and any earnings credited thereto in accordance with the terms of this Plan. 
 1.16 Distribution Date. With respect to a Participant or a deceased Participant whose Employment Termination Date has occurred, the date as of
which the Distributable Amount and the Participant’s Option Shares Account shall be paid to the Participant or the deceased Participant’s Beneficiary or Beneficiaries, as applicable, or the date as of which the first (1st) installment
of the Distributable Amount and the Participant’s Option Shares Account shall be paid to the Participant. 
 1.17 Dividend Share.
One (1) Notional Share credited to a Participant’s Option Shares Account pursuant to Section 3.2. 
 1.18 ERISA. The
Employee Retirement Income Security Act of 1974, as it may be amended from time to time. 
 1.19 Earnings Credit. With respect to a
Participant, a nominal amount determined pursuant to Sections 3.3(f), 3.4(d), 3.5(b), and 3.6(b) of this Plan for crediting to or deducting from the Participant’s Deferral Account, Benefit Account, Rollover Account, and Distribution Account
pursuant to Sections 3.3(f), 3.4(d), 3.5(b), and 3.6(b) respectively, of this Plan; provided, however, 

  

 3 

 
that, notwithstanding the foregoing, the Plan Sponsor acknowledges that increases and decreases in the value of the Notional Shares and other amounts
credited to any of the aforementioned Accounts that are invested in the Common Stock investment option shall arise from increases and decreases in the value of Common Stock rather than from the crediting of earnings. 
 1.20 Earnings Crediting Rate. With respect to a Participant, the rate at which nominal earnings shall be credited to, or nominal losses shall be
deducted from, all or a designated portion of the Participant’s Deferral Account, Benefit Account, Rollover Account and Distribution Account, as determined pursuant to Sections 3.3, 3.4, 3.5, and 3.6 respectively, of this Plan; provided,
however, that, notwithstanding the foregoing, the Plan Sponsor acknowledges that increases and decreases in the value of the Notional Shares and other amounts credited to any of the aforementioned Accounts that are invested in the Common Stock
investment option shall arise from increases and decreases in the value of Common Stock rather than from the crediting of earnings. 
 1.21
Effective Date. January 1, 2008, except as otherwise provided. The original effective date of this Plan is March 1, 1995. 
 1.22 Eligible Compensation. 
 (a) Cycle Beginning Date Prior to January 1, 2004. With respect to
a Participant for a Performance Cycle beginning prior to January 1, 2004: 
 (i) Eligible Employee on Cycle Beginning
Date. If the Participant’s Participation Date occurs on or before the Cycle Beginning Date of the Performance Cycle and the Participant is an Eligible Employee on such Cycle Beginning Date, the product (rounded to two (2) decimal
places) of (i) the Applicable Percentage, (ii) PV Factor 1+2+3, and (iii) the Participant's Target Compensation. 
 (ii) Eligible Employee After Cycle Beginning Date. If the Participant’s Participation Date occurs after the Cycle Beginning Date of the Performance Cycle but during the Performance Cycle, the product (rounded to two
(2) decimal places) of the Applicable Percentage and the amount determined in accordance with Paragraphs (i) through (iii) below, as applicable, depending on the Plan Year in the Performance Cycle during which the Participant’s
Participation Date occurs: 
 (A) First Plan Year. If the Participant’s Participation Date occurs during the
first (1st) Plan Year in the Performance Cycle, such amount shall equal the sum of (A) the product of (I) PV Factor 0 based on the Months Factor, (II) the Participant’s Target Compensation, (III) the Months Factor, and (IV)
one-twelfth (1/12) and (B) the product of (I) PV Factor 1+2 and (II) the Participant’s Target Compensation. 
 (B) Second Plan Year. If the Participant’s Participation Date occurs during the second (2nd) Plan Year in the Performance Cycle, such amount shall equal the sum of (A) the product of (I) PV Factor 0 based on the
Months Factor, (II) the Participant’s Target Compensation, (III) the Months Factor, and (IV) one-twelfth (1/12) and (B) the product of (I) PV Factor 1 and (II) the Participant’s Target Compensation. 
  

 4 

 (C) Third Plan Year. If the Participant’s Participation Date occurs during
the third (3rd) Plan Year in the Performance Cycle, such amount shall equal the product of (A) PV Factor 0 based on the Months Factor, (B) the Participant’s Target Compensation, (C) the Months Factor, and
(D) one-twelfth (1/12). 
 (b) Cycle Beginning Date on or After January 1, 2004. With respect to a
Participant for a Performance Cycle beginning on or after January 1, 2004: 
 (i) Eligible Employee on Cycle Beginning
Date. If the Participant’s Participation Date occurs on or before the Cycle Beginning Date of the Performance Cycle and the Participant is an Eligible Employee on such Cycle Beginning Date, the product (rounded to two (2) decimal
places) of (I) the Applicable Percentage and (II) the Participant’s Target Compensation. 
 (ii) Eligible
Employee After Cycle Beginning Date. If the Participant’s Participation Date occurs after the Cycle Beginning Date but during the Performance Cycle, the product (rounded to two (2) decimal places) of (I) the Applicable Percentage,
(II) the Participant’s Target Compensation, and (III) the Months Factor for the month in which the Participant’s Participation Date occurs. 
 1.23 Eligible Employee. (a) An Employee who was hired on or before January 1, 1995, and who is an Initial Participant, (b) an Employee who was hired after January 1, 1995, and whose
employment position is listed in the records prepared and maintained by the Administrator, or (c) effective on and after January 1, 1998, an Employee who is a Rollover Participant. Notwithstanding the foregoing sentence, the Administrator,
in his or her sole discretion, may determine that an Employee who was hired on or before January 1, 1995, and who is not an Initial Participant shall become an Eligible Employee under such circumstances as the Administrator, in his or her sole
discretion, may deem appropriate so long as the Employee has an employment position that is listed in the records prepared and maintained by the Administrator. 
 1.24 Eligibility Termination Date. With respect to a Participant who is an Eligible Employee, the earliest of (a) the Participant’s Employment Termination Date, or (b) the date that the
Participant is no longer an Eligible Employee as defined in Section 1.23(b). 
 1.25 Employee. An individual who performs
services for an Employer. 
 1.26 Employer. (a) The Plan Sponsor or (b) an employer that is a member of the Plan
Sponsor’s “controlled group of corporations, trades, or businesses,” as such term shall be defined in Code Sections 414(b) and 414(c), and that has adopted this Plan by executing an adoption agreement with the Plan Sponsor, the terms
of which shall thereupon be incorporated by reference as a part of the Plan. 
 1.27 Employment Termination Date. With respect to a
Participant, the earlier of the date that the Participant ceases being an Employee or the date as of which this Plan is terminated. Notwithstanding the foregoing, with respect to any Section 409A Amount of a Participant, the Participant’s
“Employment Termination Date” shall be the date that the Participant separates from service with all Employers, whether by death, retirement, or other termination of employment, in a manner consistent with the definition in Treas. Reg.
Section 1.409A-1(h). 
  

 5 

 1.28 Gain Share. One (1) Notional Share credited to a Participant’s Option Shares
Account pursuant to Section 3.2(d). 
 1.29 Grandfathered Amount. With respect to a Participant, any portion of the following
account balances that was vested as of December 31, 2004: the Performance Shares Account, the Benefit Account, the Option Shares Account, the Deferral Account, the Rollover Account, and the Distribution Account; and any earnings credited
thereto and any losses deducted therefrom on or after January 1, 2005, in accordance with the terms of the Plan. 
 1.30
Identification Date. December 31, 2007, and December 31 of each calendar year thereafter. 
 1.31 Initial
Participant. An Employee who became a Participant as of March 1, 1995, and is designated as an initial participant in the records prepared and maintained by the Administrator. 
 1.32 Long-term Rate. With respect to a Performance Cycle, the closing price of the ten (10)-year Treasury bond rate on the business day last
preceding the Cycle Beginning Date of the Performance Cycle or such other long-term interest rate as shall be determined for the remainder of the Performance Cycle by the Administrator in his or her sole discretion. 
 1.33 Months Factor. With respect to a Performance Cycle and a Participant whose Participation Date occurs after the Cycle Beginning Date of the
Performance Cycle but during the Performance Cycle, the number of months between the Participant’s Participation Date and the last day of the Plan Year during such Performance Cycle in which his or her Participation Date occurred as provided in
Appendix B. 
 1.34 Notional Share. One (1) notional share equivalent in value to one (1) share of Common Stock. 

1.35 Option. With respect to a Participant, a nonqualified stock option in which the Participant is vested under any stock option plan
maintained by the Plan Sponsor. 
 1.36 Option Exercise Date. With respect to Options held by a Participant, the date (if any) as of
which the Participant exercises the Options. 
 1.37 Option Gain. With respect to the Options exercised by a Participant as of an
Option Exercise Date, the product of (a) the number of Options exercised and (b) the difference between (i) the Common Stock Price on the Option Exercise Date and (ii) the exercise price per share of Common Stock. 
 1.38 Option Shares Account. With respect to a Participant, the account (if any) maintained on behalf of the Participant to record any Gain Shares
and any Dividend Shares that have been credited on his or her behalf under this Plan. 
 1.39 PV Factor 0. With respect to a
Performance Cycle with a Cycle Beginning Date before January 1, 2004, and a Participant whose Participation Date occurs after the Cycle Beginning Date of the Performance Cycle but during the Performance Cycle, a present value factor applicable

  

 6 

 
in determining the Participant’s Eligible Compensation for the Performance Cycle, which shall be (a) the factor provided in Appendix B based on the
applicable Months Factor and an interest rate of eight percent (8%) per annum, compounded annually, or (b) such other factor as shall be similarly calculated as shall be determined by the Administrator in his or her sole discretion.

 1.40 PV Factor 1. With respect to a Performance Cycle with a Cycle Beginning Date before January 1, 2004, and a Participant
whose Participation Date occurs after the Cycle Beginning Date of the Performance Cycle but during the second (2nd) Plan Year during the Performance Cycle, a present value factor applicable in determining the Participant’s Eligible
Compensation for the Performance Cycle, which shall be (a) the factor provided in Appendix B based on an interest rate of eight percent (8%) per annum, compounded annually, or (b) such other factor as shall be similarly calculated as
shall be determined by the Administrator in his or her sole discretion. 
 1.41 PV Factor 1+2. With respect to a Performance Cycle
with a Cycle Beginning Date before January 1, 2004, and a Participant whose Participation Date occurs after the Cycle Beginning Date of the Performance Cycle but during the first (1st) Plan Year during the Performance Cycle, a present
value factor applicable in determining the Participant’s Eligible Compensation for the Performance Cycle, which shall be (a) the factor provided in Appendix B based on an interest rate of eight percent (8%) per annum, compounded
annually, or (b) such other factor as shall be similarly calculated as shall be determined by the Administrator in his or her sole discretion. 
 1.42 PV Factor 1+2+3. With respect to a Performance Cycle with a Cycle Beginning Date before January 1, 2004, and a Participant whose Participation Date occurs on or before the Cycle Beginning Date of the Performance Cycle, a
present value factor applicable in determining the Participant’s Eligible Compensation for the Performance Cycle, which shall be (a) the factor provided in Appendix B based on an interest rate of eight percent (8%) per annum,
compounded annually, or (b) such other factor as shall be similarly calculated as shall be determined by the Administrator in his or her sole discretion. 
 1.43 Participant. An Eligible Employee or former Eligible Employee who is participating in this Plan pursuant to Article II. 
 1.44 Participation Date. With respect to an Eligible Employee, the date (if any) as of which the Eligible Employee shall become a Participant as determined pursuant to Section 2.1. 
 1.45 Payroll Period. With respect to an Eligible Employee, a period with respect to which the Eligible Employee receives a pay check or otherwise
is paid for services that he or she performs during the period for an Employer. 
 1.46 Pension Plan. Danaher Corporation &
Subsidiaries Pension Plan or any successor plan thereto, as it may be amended from time to time. 
 1.47 Performance Cycle. The three
(3) consecutive Plan Years beginning on March 1, 1995 or any successive period of three (3) consecutive Plan Years. Effective January 1, 2004, a period of one (1) Plan Year. 
 1.48 Performance Share. One (1) Notional Share. 
  

 7 

 1.49 Performance Shares Account. With respect to a Participant, the account maintained on behalf
of the Participant to record the Performance Shares (if any) that have been credited on the Participant’s behalf for a Performance Cycle. 
 1.50 Plan. Danaher Corporation & Subsidiaries Executive Deferred Incentive Program, as it is set forth herein and as it may be amended from time to time. 
 1.51 Plan Sponsor. Danaher Corporation. 
 1.52 Plan Year. The period beginning on March 1, 1995 and ending on December 31, 1995, or a calendar year beginning on or after January 1, 1996. 
 1.53 Rollover Account. With respect to a Rollover Participant, the account (if any) maintained on behalf of the Rollover Participant to record the
Rollover Amount (if any) that has been credited on the Rollover Participant’s behalf and any earnings credited thereto in accordance with the terms of this Plan. 
 1.54 Rollover Amount. With respect to a Rollover Participant, the nonforfeitable dollar amount as of a specified date that the Administrator has permitted to be credited under this Plan pursuant to
Section 3.5 of this Plan. 
 1.55 Rollover Participant. An Employee who elects to transfer to this Plan a nonforfeitable dollar
amount previously granted to the Employee under another arrangement maintained by an employer as permitted by the Administrator in his or her sole discretion. 
 1.56 Salary. With respect to a Participant for a Payroll Period, the total cash compensation (if any) that is payable to the Participant by any Employer during the Payroll Period and that would be reportable on
the Participant’s federal income tax withholding statement (Form W-2), including, but not limited to, salary and overtime pay, but excluding any Bonus that is payable to the Participant during the Payroll Period and any amount of such cash
compensation that shall be contributed on the Participant’s behalf as a Salary Deferral Contribution to the 401(k) Plan, plus remuneration as defined in Code Section 3401(a)(8)(A) to the extent not otherwise reported on the
Participant’s Form W-2 (excluding housing, COLA, tax equalization, hardship and special allowances). Solely for purposes of documenting administrative practice under the terms of the Plan, under this Section 1.56 of the Plan, any hiring
bonus paid to a Participant for a Payroll Period may be considered to be part of the Salary that is payable to the Participant by any Employer for the Payroll Period. 
 1.57 Salary Deferral Amount. With respect to a Participant for a Plan Year, an amount of the Participant’s Salary for a Payroll Period during the Plan Year that the Participant has elected to defer
pursuant to Section 3.3. 
 1.58 Salary Deferral Contribution. The term “Salary Deferral Contribution”
shall be defined in this Plan as it shall be defined in the 401(k) Plan. 
 1.59 Section 409A Amount. With respect to a
Participant, any of the following amounts: (1) the portion of the Participant’s Benefit Account that is unvested as of December 31, 2004 (if any), determined as the product of (I) the balance in the Participant’s Benefit
Account as of 

  

 8 

 
December 31, 2004 and (II) the difference between one hundred percent (100%) and the applicable Vesting Percentage attributable to the
Participant’s Benefit Amounts as of December 31, 2004, determined in accordance with Section 3.4(e)(iii) of the Plan, and any earnings credited thereto and any losses deducted therefrom on or after January 1, 2005 in accordance
with the terms of the Plan; and (2) any and all Benefit Amounts, Bonus Deferral Amounts, Salary Deferral Amounts, Performance Shares, and Rollover Amounts that in accordance with the terms of the Plan are credited on the Participant’s
behalf on and after January 1, 2005, and any earnings credited thereto and any losses deducted therefrom in accordance with the terms of the Plan (as well as any Distribution Amounts attributable to the amounts described in this subsection
(2)). Any Rollover Amount credited on behalf of a Rollover Participant on or after January 1, 2005 shall be not deemed to be a Section 409A Amount to the extent expressly provided in connection with any merger or consolidation of a
nonqualified deferred compensation plan (as defined in Code Section 409A) with and into this Plan. 
 1.60 Specified Employee. An
Employee who is a “key employee” as such term is defined in Code Section 416(i) without regard to Code Section 416(i)(5). For purposes of determining which Employees are key employees, an Employee is a key employee if the
Employee meets the requirements of Code Section 416(i)(A)(i), (ii) or (iii) (applied in accordance with the regulations thereunder and disregarding Code Section 416(i)(5)) at any time during the 12-month period ending on an
Identification Date; provided, however, that all Employees who are nonresident aliens during the entire 12-month period ending with the relevant Identification Date shall be excluded in any such determination. 
 1.61 Target Bonus. With respect to a Participant for a Plan Year, the target bonus (if any) that may be earned by the Participant for the Plan
Year as determined in accordance with the Plan Sponsor’s bonus program applicable to such Participant as from time to time in effect. 
 1.62 Target Compensation. With respect to a Participant for a Performance Cycle, the sum of (a) the Participant’s annual base salary for the first (1st) Plan Year in the Performance Cycle or, if later, the Plan Year in
the Performance Cycle during which the Participant’s Participation Date occurs and (b) the Participant’s Target Bonus for the same such Plan Year. Effective January 1, 2004, with respect to a Participant for a Performance Cycle,
the sum of (a) the Participant’s annual base salary for the Performance Cycle and (b) the Participant’s Target Bonus for the same such Performance Cycle. 
 1.63 Trust Agreement. Trust Agreement for the Danaher Corporation & Subsidiaries Executive Deferred Incentive Program, as it may be
amended from time to time. 
 1.64 Valuation Date. The monthly or other more frequent periodic date selected by the Administrator to
value Benefit Accounts, Deferral Accounts, Rollover Accounts, and Distribution Accounts; provided, however, that the first Valuation Date shall be August 1, 2003. With respect to a Participant whose Eligibility Termination Date does not
coincide with a Valuation Date defined in the preceding sentence, the Participant’s Eligibility Termination Date shall be deemed a Valuation Date solely with respect to that Participant. 
 1.65 Valuation Period. A period beginning on a Valuation Date and ending on the day before the next succeeding Valuation Date. 
  

 9 

 1.66 Vesting Percentage. With respect to a Benefit Amount and Performance Shares credited to a
Participant’s Benefit Account, the percentage to be applied to such Benefit Amount and Performance Shares to determine the amount thereof to which the Participant shall have a nonforfeitable right, subject to any provision to the contrary in
Section 3.4 or 5.9 or the Trust Agreement. 
 1.67 Vesting Year of Participation. Effective January 1, 2004, with respect to
a Participant other than a Rollover Participant, a twelve (12)-consecutive month period beginning on (A) the later of (i) January 1, 2004 or (ii) the Participant’s Participation Date, or (B) an anniversary thereof
during which the Participant remains an Eligible Employee, where the term “Eligible Employee” shall be defined only as in Sections 1.23(a) and (b) of this Plan; provided, however, that, in the case of a Participant who shall be absent
from employment with an Employer for any reason for more than six (6) consecutive weeks, unless otherwise determined by the Administrator in his or her sole discretion, the Participant shall not be deemed to have remained an Eligible Employee
for purposes of this Section and the date as of which any future Years of Participation shall be determined for the Participant shall begin on the date of his or her return (if any) from such absence. 
 1.68 Year of Participation. With respect to a Participant other than a Rollover Participant, (i) the ten (10)-consecutive month period
beginning on March 1, 1995, and (ii) a twelve (12)-consecutive month period beginning on (A) the Participant’s Participation Date, or (B) an anniversary thereof during which the Participant remains an Eligible Employee,
where the term “Eligible Employee” shall be defined only as in Sections 1.23(a) and (b) of this Plan; provided, however, that, in the case of a Participant who shall be absent from employment with an Employer for any reason for more
than six (6) consecutive weeks, unless otherwise determined by the Administrator in his or her sole discretion, the Participant shall not be deemed to have remained an Eligible Employee for purposes of this Section and the date as of which any
future Years of Participation shall be determined for the Participant shall begin on the date of his or her return (if any) from such absence. 
 1.69 Year of Service. With respect to a Participant, a twelve (12)-consecutive month period beginning on the Participant’s employment date with an Employer or an anniversary thereof during which the Participant remains an
Employee; provided, however, that, in the case of a Participant who shall be absent from employment with an Employer for any reason for more than six (6) consecutive weeks, unless otherwise determined by the Administrator in his or her sole
discretion, the Participant shall not be deemed to have remained an Employee for purposes of this Section and the date as of which any future Years of Service shall be determined for the Participant shall begin on the date of his or her return (if
any) from such absence. 
 1.70 401(k) Plan. Danaher Corporation & Subsidiaries Savings Plan or any successor thereto, as it
may be amended from time to time. 
  

 10 

 ARTICLE II 
 PARTICIPATION 
 2.1 Commencement of Participation. An Eligible Employee who is an Initial
Participant may become a Participant as of March 1, 1995, and any other Eligible Employee may become a Participant as of the date that is the first (1st) day of a month and that coincides with or follows the later of March 1, 1995, or
the date that the individual became an Eligible Employee; provided that the Eligible Employee completes an enrollment form and files it with the Administrator within the time period specified by the Administrator. 
 2.2 Termination of Participation. 
 (a) Participant Ceases Being an Eligible Employee. A Participant who ceases being an Eligible Employee but remains an Employee shall cease being a Participant as of his or her Eligibility Termination Date if
the Participant’s Distributable Amount as of such date (as determined subsequent to any crediting of his or her Distribution Account pursuant to Section 3.6 as of such date) equals zero (0) and his or her Option Shares Account (if
any) has a zero (0) balance. 
 (b) Participant Ceases Being an Employee. A Participant who ceases being an
Employee shall cease being a Participant as of the earlier of the Participant’s date of death or the date as of which the Participant’s Distributable Amount (as determined subsequent to any crediting of his or her Distribution Account
pursuant to Section 3.6 as of his or her Eligibility Termination Date) equals zero (0) and his or her Option Shares Account (if any) has a zero (0) balance. 
  

 11 

 ARTICLE III 
 ACCOUNTS AND VESTING 
 3.1 Performance Share Accounts. 
 (a) Award of Performance Shares. With respect to each Performance Cycle, the Administrator shall credit Participants’
Performance Shares Accounts with Performance Shares in accordance with the following: 
 (i) Eligible Employee on Cycle
Beginning Date. With respect to each Participant whose Participation Date occurred on or before the Cycle Beginning Date of the Performance Cycle, if the Participant shall be an Eligible Employee on the Cycle Beginning Date, the Administrator
shall credit the Participant’s Performance Shares Account as of the Cycle Beginning Date (but subsequent to any zeroing of such account pursuant to Section 3.4) with a number of Performance Shares equal to the quotient (rounded to the
nearer whole number) of (A) the Participant’s Eligible Compensation and (B) the Common Stock Price as of the Cycle Beginning Date. 
 (ii) Eligible Employee After Cycle Beginning Date. With respect to each Participant whose Participation Date occurs after the Cycle Beginning Date of the Performance Cycle but during the Performance Cycle, the
Administrator shall credit the Participant’s Performance Shares Account as of his or her Participation Date with a number of Performance Shares equal to the quotient (rounded to the nearer whole number) of (A) the Participant’s
Eligible Compensation and (B) the Common Stock Price as of the Participant’s Participation Date. 
 (b)
Limitations With Respect To Performance Shares. 
 (i) No Shareholder Rights. A Performance Share has no legal
relation to a share of Common Stock and, accordingly, no Participant who has a balance in his or her Performance Shares Account shall be entitled to any dividend, voting, or other rights of a shareholder of Common Stock with respect to the
Performance Shares in his or her Performance Shares Account. 
 (ii) No Right to Payment. No payment shall be made for
any one (1) or more of the Performance Shares in a Participant’s Performance Shares Account except as provided in Section 4.2. 
 (iii) Cancellation of Performance Shares. The Administrator may cancel all or any number of the Performance Shares in a Participant’s Performance Shares Account with the written consent of the Participant.

  

 12 

 3.2 Option Share Accounts. Notwithstanding anything to the contrary herein, no elections to defer
Option Gains are permitted under the terms of this Plan on or after January 1, 2005, and the provisions of this Plan relating to Option Gains shall only apply with respect to elections to defer Option Gains made prior to January 1, 2005.

 (a) Exercise of Options. With respect to any Option Gain deferred under this Plan, it is the Plan Sponsor’s
intent that: (i) the Participant first exercise the associated Options in a stock-for-stock exercise under the terms of the applicable stock option plan maintained by the Plan Sponsor; (ii) the shares to be returned to the Participant in
connection with the stock-for-stock exercise of the Options under the stock option plan shall be issued from the shares of Common Stock available under such stock option plan and shall be equal in number to the shares initially tendered by the
Participant in connection with the Option exercise; (iii) with respect to the aggregate market value of the Option Gain, (A) the value of such Option Gain shall be credited to the Participant’s Option Shares Account under this Plan,
(B) the stock option plan shall not issue any shares of Common Stock thereunder with respect to such Option Gain, and (C) this Plan shall issue any such shares of Common Stock with respect to the Option Gain from the shares of Common Stock
available for issuance under this Plan in accordance with the terms of this Plan. 
 (b) Election to Defer. Subject to
this Section, a Participant who is an Eligible Employee (i) may elect prior to the last day of a Plan Year to defer any Option Gain realized as a result of any exercise by the Participant of any Options during the last six (6) months of
the next succeeding Plan Year, or (ii) may elect prior to the last day of the sixth (6th) month of a Plan Year to defer any Option Gain realized as a result of any exercise by the Participant of any Options during the first six
(6) months of the next succeeding Plan Year. 
 (c) Election Procedures. Subject to any further procedures
established by the Administrator pursuant to Article V, a Participant shall make any deferral election that he or she desires to make pursuant to Subsection (b) above by properly completing an election form and filing the form with the
Administrator. A Participant may not, at any time, revoke a deferral election made pursuant to this Section. 
 (d)
Crediting of Gain Shares. Subject to Subsection (e) below, with respect to each Participant who exercises Options subject to a deferral election made pursuant to Subsection (b) above, if the Participant shall be an Eligible Employee
on the respective Option Exercise Date, as soon as administratively possible after the Administrator shall have received notice that the Options have been exercised, the Administrator shall credit the Participant’s Option Shares Account with a
number of Gain Shares equal to the quotient (rounded to the nearer hundredth) of (i) the Participant’s Option Gain from the exercise of the Options and (ii) the Common Stock Price as of the Option Exercise Date. 
 (e) No Crediting of Gain Shares. Notwithstanding Subsection (d) above, Gain Shares shall be credited to a Participant’s
Option Shares Account with respect to the Participant’s exercise of Options subject to a deferral election made pursuant to Subsection (b) above only in the event that: (i) the Participant shall have delivered pursuant to the
applicable stock option plan maintained by the Plan Sponsor shares of Common Stock that the Participant has held for at least six (6) months with an aggregate value equal to the aggregate exercise price of the Options exercised (or proof that
the Participant owns such shares); (ii) the Participant shall deliver to the Administrator a check for any federal employment taxes applicable to the deferral of the Option Gain on the exercise of the Options; (iii) the Participant shall
have exercised at least 1,000 Options; (iv) the Participant has not already exercised any Options in the same calendar month; and (v) the Option Gain is at least $25,000. 
  

 13 

 (f) Crediting of Dividend Shares. With respect to each Participant who has an
Option Shares Account, as soon as administratively possible after any dividend payment date with respect to the Common Stock, the Administrator shall credit the Participant's Option Shares Account with a number of Dividend Shares equal to the
quotient (rounded to the nearer hundredth) of (i) the product of (A) the dividend amount per share of Common Stock and (B) the number of Option Shares credited to his or her Option Shares Account and (ii) the Common Stock Price
as of the dividend payment date. 
 (g) Limitations With Respect to Option Shares. 
 (i) No Shareholder Rights. No Option Share shall have any legal relation to a share of Common Stock and, accordingly, no
Participant who has a balance in his or her Option Shares Account shall be entitled to any dividend, voting, or other rights of a shareholder of Common Stock with respect to the Option Shares in his or her Option Shares Account except as otherwise
provided in Subsection (f) above. 
 (ii) No Right to Payment. No payment shall be made for any of the Option
Shares in a Participant’s Option Shares Account except as provided in Section 4.3. 
 3.3 Deferral Accounts. 
 (a) Election to Defer. Subject to this Section: 
 (i) Bonus Deferral Amounts. A Participant who is an Eligible Employee may elect to have an amount of his or her Target Bonus for a
Plan Year, a percentage of his or her Bonus for a Plan Year, or any amount of his or her Bonus as exceeds a specified amount deferred as a Bonus Deferral Amount for the next succeeding Plan Year; provided that the actual amount deferred shall not
exceed the Participant’s Bonus. 
 (ii) Salary Deferral Amounts. A Participant who is an Eligible Employee may
elect to have an amount of his or her Salary for each Payroll Period in a Plan Year during which he or she shall be an Eligible Employee deferred as a Salary Deferral Amount. 
 (b) Election Procedures. Subject to any further procedures established by the Administrator pursuant to Article V, any election
made by a Participant pursuant to Subsection (a) above shall be subject to the procedures described in Paragraphs (i) through (iv) below: 
 (i) Initial Opportunity to Defer. 
 (A) Bonus Deferral Amounts. The
Participant may elect to have a Bonus Deferral Amount deferred on his or her behalf with respect to the Participant’s Target Bonus or Bonus for the Plan Year in which the Participant’s Participation Date occurs by so indicating on the
enrollment form required pursuant to Section 2.1. 
 (B) Salary Deferral Amounts. The Participant may elect to
have Salary Deferral Amounts deferred on his or her behalf with respect to the Participant’s Salary for the Plan Year in which the Participant's Participation Date occurs by so indicating on the enrollment form required pursuant to
Section 2.1. Such election shall be effective for Payroll Periods during 

  

 14 

 
such Plan Year or the remainder of such Plan Year, as applicable, beginning as soon as administratively possible on or after the latest of
(I) April 1, 1995, (II) the Participant’s Participation Date, or (III) the date that the Participant files the properly completed enrollment form with the Administrator. 
 (ii) Subsequent Opportunities to Defer. 
 (A) Bonus Deferral Amounts. The Participant may elect to have a Bonus Deferral Amount deferred on his or her behalf with respect
to the Participant’s Target Bonus or Bonus for a Plan Year subsequent to the Plan Year in which the Participant’s Participation Date occurs by properly completing an election form and filing the form with the Administrator prior to the
first (1st) day of such subsequent Plan Year. 
 (B) Salary Deferral Amounts. The Participant may elect to have
Salary Deferral Amounts deferred on his or her behalf with respect to the Participant’s Salary for a Plan Year subsequent to the Plan Year in which the Participant’s Participation Date occurs by properly completing an election form and
filing the form with the Administrator prior to the first (1st) day of such subsequent Plan Year. Such election shall be effective for Payroll Periods during the respective Plan Year beginning as soon as administratively possible on or after
the first (1st) day of the Plan Year. 
 (iii) No Revocations. A Participant may not, at any time, revoke a
previous election with respect to a Bonus Deferral Amount or Salary Deferral Amounts. 
 (iv) Termination of
Election. A Participant’s election concerning a Bonus Deferral Amount or Salary Deferral Amounts shall terminate on the earlier of (A) the date as of which the last amount or the only amount, as applicable, designated to
be withheld under such election shall be withheld or (B) the Participant’s Eligibility Termination Date. 
 (c)
Withholding by Employer. 
 (i) Bonus Deferral Amounts. The Employer of a Participant who has in effect an
election with respect to a Bonus Deferral Amount pursuant to Subsection (b) above shall withhold the designated Bonus Deferral Amount from the Participant’s Bonus and shall notify the Administrator that such amount was withheld as soon as
administratively possible after the withholding thereof. 
 (ii) Salary Deferral Amounts. The Employer of a Participant
who has in effect an election with respect to Salary Deferral Amounts pursuant to Subsection (b) above for a Payroll Period shall withhold the designated Salary Deferral Amount from the Participant’s Salary for the Payroll Period and shall
notify the Administrator that such amount was withheld as soon as administratively possible after the withholding thereof; provided, however, that, after the first such notice by the Employer to the Administrator, the Employer shall only notify the
Administrator of any change in the withholding of Salary Deferral Amounts. 
 (d) Crediting of Deferral Amounts. As
soon as administratively possible after the Administrator shall have received notice (or shall be deemed to have received notice pursuant to Subsection (c)(ii) above) that a Bonus Deferral Amount or a Salary Deferral Amount has been withheld on
behalf of a Participant, the Administrator shall credit the Participant’s Deferral Account by such amount. 
  

 15 

 (e) Crediting of Additional Amounts. 
 (i) In General. As of the last day of each Plan Year and as soon as administratively possible thereafter, the Administrator shall
credit to the Deferral Account of each Participant with respect to whom the requirements in Paragraph (ii) below shall be met an amount (if any) that shall be determined by the Administrator in his or her sole discretion and that shall be
intended to compensate for employer contributions that may have been foregone by the Participant under the 401(k) Plan, the Pension Plan, or any other qualified plan maintained by an Employer due to the fact that a Bonus Deferral Amount and/or
Salary Deferral Amounts were credited to the Participant’s Salary Deferral Account for the Plan Year. 
 (ii)
Requirements for Additional Amount. A Participant shall be eligible to have an amount credited to his or her Deferral Account for a Plan Year in accordance with Paragraph (i) above if the following requirements are met with respect to
the Participant: 
 (A) A Bonus Deferral Amount and/or Salary Deferral Amounts were credited to the Participant’s Salary
Deferral Account for the Plan Year; 
 (B) The Participant had completed at least one (1) One Year of Service
uninterrupted by a One-year Break in Service as of July 1 of the Plan Year; 
 (C) The Participant’s Eligibility
Termination Date had not occurred as of the last day of the Plan Year; and 
 (D) The Participant’s Basic Compensation
for the Plan Year does not exceed the Compensation Limitation for the Plan Year; 
 where, for purposes of this Paragraph, the terms “One
Year of Service,” “One-year Break in Service,” “Basic Compensation” and “Compensation Limitation” shall be as defined in the 401(k) Plan, the Pension Plan, or other qualified plan maintained by an Employer, as
applicable. 
 (f) Crediting of Earnings. 
 (i) Elections. A Participant may elect as the Earnings Crediting Rate that shall apply to all or a designated portion of the
Participant’s Deferral Account the earnings rate on one (1) of the investment options that the Administrator shall from time to time designate. A Participant makes his or her initial election of the Earnings Crediting Rate(s) that shall
apply to the Participant’s Deferral Account by properly completing an investment option form and filing it with the Administrator. A Participant who has filed an investment option form with the Administrator may elect to change his or her
investment election with respect to either the investment of future amounts credited to the Participant’s Deferral Account and/or the investment of all or a designated portion of the current balance of the Participant’s Deferral Account by
so designating on a new investment option form and filing the form with the Administrator or, in accordance with procedures adopted by the Administrator, by so notifying the Administrator in any manner acceptable to the Administrator; provided,
however, that a Participant may not change his or her investment election 

  

 16 

 
with respect to Common Stock and any such election of the Common Stock as an investment option shall be irrevocable and remain in effect until the
Participant’s Distributable Amount is distributed pursuant to Section 4.2 of this Plan. Except as otherwise provided by the Administrator with respect to one (1) or more investment options, any initial investment election made
pursuant to this Paragraph shall be effective as soon as administratively possible after August 31, 2003, and any subsequent investment election made pursuant to this Paragraph shall be effective as soon as administratively possible after the
date that the Participant files the investment option form with the Administrator or otherwise notifies the Administrator of his or her election, and each investment election shall continue in effect until the effective date of a subsequent
investment election properly made. Notwithstanding the foregoing, with respect to any Participant who is required to file reports with the Securities and Exchange Commission under Section 16 of the Securities Exchange Act of 1934, and the rules
promulgated thereunder, if the Participant has elected Common Stock as an investment option that shall apply to all or a portion of his or her Deferred Account, such investment option and Earnings Crediting Rate shall not become effective with
respect to any amounts deferred until the earlier of the April 30, July 31, October 31, or January 31 immediately following the date such amounts were deferred, and during the period from the date of deferral until such
April 30, July 31, October 31, or January 31, as applicable, the investment options and Earnings Crediting Rate that shall apply to such deferred amounts shall be the fixed income fund investment option, or such other
investment option as the Administrator shall determine. 
 The Administrator shall adopt and may amend procedures to be followed by
Participants in electing Earnings Crediting Rate(s) and, pursuant thereto, the Administrator may, among other actions, format investment option forms and establish deadlines for elections. 
 (ii) No Election. The Administrator shall from time to time designate a fixed income fund or other investment option that shall be
used to establish the Earnings Crediting Rate that shall apply to the Deferral Account of any Participant who has not made an investment option election pursuant to Subparagraph (i) above. 
 (iii) Earnings Credits. As of each Valuation Date, the Administrator shall determine the Earnings Credit applicable to the Deferral
Account of each Participant for the Valuation Period ending on the Valuation Date (or the portion thereof during which the Deferral Account was maintained): (i) if only one (1) Earnings Crediting Rate shall have applied to the Deferral
Account pursuant to Subsection (i) above, the Earnings Credit shall equal (A) the Earnings Crediting Rate (on an annual basis) times (B) the balance in the Deferral Account as of the later of the last preceding Valuation Date or the
date as of which the Deferral Account was established times (C) the days in the Valuation Period (or portion thereof) divided by (D) 365; and (ii) if more than one (1) Earnings Crediting Rate shall have applied to the Deferral
Account pursuant to Subsection (i) above, as applicable, the Earnings Credit shall equal the sum of each amount determined as (A) the Earnings Crediting Rate (on an annual basis) times (B) the portion of the balance in the Deferral
Account as of the later of the last preceding Valuation Date or the date as of which the Deferral Account was established to which such rate applied times (C) the days in the Valuation Period (or portion thereof) divided by (D) 365.

 (iv) Accounting. As of each Valuation Date, the balance in each Deferral Account maintained as of the Valuation Date
shall be determined as the amount calculated in accordance with the following: 
 (A) The balance (if any) in the Deferral
Account as of the later of the last preceding Valuation Date or the date as of which the Deferral Account was established; plus 
  

 17 

 (B) Any amounts credited to the Deferral Account pursuant to Sections 3.3(d) and 3.3(e)
of this Plan during the Valuation Period ending on the Valuation Date; plus 
 (C) Any positive Earnings Credit determined
for the Deferral Account pursuant to Section 3.3(f)(iii) of this Plan during the Valuation Period ending on the Valuation Date; less 
 (D) Any negative Earnings Credit determined for the Deferral Account pursuant to Section 3.3(f)(iii) during the Valuation Period ending on the Valuation Date. 
 (g) Vesting of Deferral Accounts. With respect to a Participant, the Participant’s Deferral Account shall be at all times
nonforfeitable. 
 3.4 Benefit Accounts. 
 (a) Cyclical Accounting for Performance Cycle Ending December 31, 2003. 
 (i)
Crediting of Benefit Amounts. As of December 31, 2003, with respect to a Participant who has a balance in his or her Performance Shares Account, the Administrator shall credit the Participant’s Benefit Account as follows:
(1) with a Benefit Amount for the Performance Cycle ending on December 31, 2003, where such Benefit Amount shall equal fifty percent (50%) (rounded to two (2) decimal places) of the product of (i) the number of Performance
Shares in the Participant’s Performance Shares Account as of December 31, 2003, and (ii) the Common Stock Price as of December 31, 2003; and (2) with a number of Performance Shares equal to fifty percent (50%) of the
number of Performance Shares in the Participant’s Performance Share Account as of December 31, 2003; provided that the Administrator shall account separately for each Benefit Amount credited to a Participant’s Account pursuant to this
Subsection. 
 (ii) Effect on Performance Shares Account. The Administrator shall reduce the number of Performance
Shares in the Participant’s Performance Shares Account to zero (0). 
 (iii) Annual Accounting. As of
December 31, 2003, with respect to each Benefit Amount (if any) in a Participant’s Benefit Account as of such date, the Administrator shall credit earnings on fifty percent (50%) of such Benefit Amount to the Participant’s
Benefit Account, where the amount of such earnings shall equal the product (rounded to two (2) decimal places) of (i) the Long-term Rate for the Performance Cycle in which the Plan Year occurs and (ii) the sum of (A) fifty
percent (50%) of such Benefit Amount and (B) the aggregate amount (if any) of earnings thereon previously credited to the Participant’s Benefit Account pursuant to this Subsection. 
 (b) Conversion of Other Benefit Amounts to Performance Shares. As of January 1, 2004, the Administrator shall convert all of
the Benefit Amounts in a Participant’s Benefit Account that previously were not credited with earnings at the Long-term Rate for a Performance Cycle under Paragraph (a)(iii) above to Performance Shares by crediting the Participant’s
Benefit 

  

 18 

 
Account with a number of Performance Shares equal to the quotient of (1) the aggregate of such Benefit Amounts, divided by (2) the Common Stock
Price on January 1, 2004, and then debiting the Participant’s Benefit Account by the aggregate of such Benefit Amounts. 
 (c) Cyclical Accounting for Performance Cycles Beginning on or After January 1, 2004. Effective January 1, 2004, as of each Cycle Beginning Date of a Performance Cycle, or Participation Date, that the Participant’s
Performance Shares Account is credited with Performance Shares pursuant Section 3.1(a), the Administrator shall credit each Participant’s Benefit Account with the number of Performance Shares in the Participant’s Performance Share
Account as of such date and then the Administrator shall reduce the number of Performance Shares in the Participant’s Performance Share Account to zero (0). 
 (d) Earnings Credits. 
 (i) Performance Shares. The investment option and Earnings Crediting Rate applicable to the Performance Shares in the Benefit Account of each Participant shall be Common Stock. As of each Valuation Date on or
after January 1, 2004, the Administrator shall determine the Earnings Credit applicable to the Performance Shares in the Benefit Account of each Participant for the Valuation Period ending on the Valuation Date (or the portion thereof during
which the Deferral Account was maintained): the Earnings Credit for the Common Stock investment option shall equal (A) the Earnings Crediting Rate (on an annual basis) times (B) the balance in the Benefit Account as of the later of the
last preceding Valuation Date or the date as of which the Benefit Account was established times (C) the days in the Valuation Period (or portion thereof) divided by (D) 365. 
 (ii) Benefit Amounts. As of the last day of each Plan Year beginning on or after January 1, 2004, with respect to each Benefit
Amount (if any) in a Participant’s Benefit Account as of the first (1st) day of such Plan Year other than Benefit Amounts consisting of Performance Shares, the Administrator shall credit earnings on such Benefit Amount to the
Participant’s Benefit Account, where the amount of such earnings shall equal the product (rounded to two (2) decimal places) of (i) the Long-term Rate for the Performance Cycle in which the Plan Year occurs and (ii) the sum of
(A) such Benefit Amount and (B) the aggregate amount (if any) of earnings thereon previously credited to the Participant’s Benefit Account. 
 (iii) Accounting. As of each Valuation Date, the balance in each Benefit Account maintained as of the Valuation Date shall be determined as the amount calculated in accordance with the following: 
 (A) The balance (if any) in the Benefit Account as of the later of the last preceding Valuation Date or the date as of which the Benefit
Account was established; plus 
 (B) Any amounts credited to the Benefit Account pursuant to Section 3.4(c) of this Plan
during the Valuation Period ending on the Valuation Date; plus 
 (C) Any amounts credited to the Benefit Account pursuant to
Section 3.4(e) of this Plan during the Valuation Period ending on the Valuation Date; plus 
  

 19 

 (D) Any positive Earnings Credit determined for the Benefit Account pursuant to
Section 3.4(d)(i) and 3.4(d)(ii) of this Plan during the Valuation Period ending on the Valuation Date; less 
 (E) Any
negative Earnings Credit determined for the Benefit Account pursuant to Section 3.4(d)(i) during the Valuation Period ending on the Valuation Date. 
 (e) Accounting at Eligibility Termination Date. As of the Eligibility Termination Date of a Participant, the Administrator shall take consecutively the actions in Paragraphs (i) through (iv) below, as
applicable, which such actions shall be taken subsequently to the actions to be taken by the Administrator pursuant to Subsections (c) and (d): 
 (i) Discretionary Crediting of Performance Shares. If the Participant’s Eligibility Termination Date precedes the Cycle Ending Date of a Performance Cycle, the Administrator may, in his or her sole
discretion, credit the Participant’s Benefit Account with a number of Performance Shares for the Performance Cycle in which such Eligibility Termination Date occurs equal to the number of Performance Shares credited to such Benefit Account on
the Cycle Beginning Date of such Performance Cycle. 
 (ii) Effect on Performance Shares Account. Except as otherwise
provided in Paragraph (i) above, unless the Participant’s Eligibility Termination Date coincides with the Cycle Ending Date of a Performance Cycle, the Administrator shall reduce the number of Performance Shares in the Participant’s
Benefit Account by the number of Performance Shares credited to such Benefit Account on the Cycle Beginning Date for the Performance Cycle or, if later, the Participant’s Participation Date. 
 (iii) Determination of Vesting Percentages. The Administrator shall determine the Vesting Percentage applicable to the Benefit
Amounts including Performance Shares and any earnings thereon in the Participant’s Benefit Account, in accordance with the following: 
 (A) Age and Service Vesting. 
 (1) If the Participant has both attained age
fifty-five (55) and completed at least five (5) Years of Service, the Participant’s Vesting Percentage applicable to the Benefit Amounts including Performance Shares and any earnings thereon shall be one hundred percent (100%).

 (2) Effective January 1, 2004, if such Paragraph (A)(1) above does not apply and if the Participant has completed at
least five (5) Years of Participation, the Participant’s Vesting Percentage applicable to the Benefit Amounts including Performance Shares and any earnings thereon shall be determined as follows: 
  

				
	 VESTING YEARS OF PARTICIPATION
	  	VESTING
PERCENTAGE	 
	                           1
	  	10	%
	                           2
	  	20	%
	                           3
	  	30	%
	                           4
	  	40	%
	                           5
	  	50	%
	                           6
	  	60	%
	                           7
	  	70	%
	                           8
	  	80	%
	                           9
	  	90	%
	                         10
	  	100	%

  

 20 

 (B) Vesting at Death. If the Participant has died, the Participant’s Vesting
Percentage applicable to the Benefit Amounts including Performance Shares and any earnings thereon shall be one hundred percent (100%). 
 (C) Partial Vesting for Initial Participants. If the Participant is an Initial Participant and neither Subparagraph (A)(1) nor Subparagraph (B) above applies to the Participant, the Participant’s
Vesting Percentage applicable to the Benefit Amounts including Performance Shares and any earnings thereon that correlate with the Benefit Amounts previously credited for the Performance Cycle beginning on March 1, 1995 shall be sixty-six and
two-thirds percent (66-2/3%); provided, however, that an Initial Participant’s Vesting Percentage may increase based upon his or her Vesting Years of Participation pursuant to Subparagraph (A)(2) above (e.g., after completion of five
(5) Years of Participation and seven (7) Vesting Years of Participation, an Initial Participant’s Vesting Percentage will be seventy percent (70%)). 
 (D) No Vesting. Except as otherwise provided in Subparagraph (A), (B), or (C) above, the Participant’s Vesting
Percentage applicable to each such Benefit Amount including Performance Shares plus any such earnings thereon shall be zero percent (0%). 
 (E) Gross Misconduct Exception to Vesting. Notwithstanding Subparagraph (A), (B) or (C) above, if the Administrator determines, in his or her sole discretion, that the circumstances of and/or
surrounding the Participant’s ceasing to be an Eligible Employee constitute gross misconduct on the part of the Participant, the Administrator may, in his or her sole discretion, determine that the Participant’s Vesting Percentage
applicable to the Benefit Amounts and the Performance Shares and earnings thereon shall be zero percent (0%). 
 (iv)
Forfeiture and Reduction of Benefit Account. If the Administrator determines pursuant to Paragraph (ii) above that the Participant’s Vesting Percentage with respect to the Benefit Amounts including Performance Shares and earnings
thereon, is less than one hundred percent (100%), the Administrator shall forfeit all or a portion of such Benefit Amount including Performance Shares plus any earnings thereon by (A) reducing pro rata the Benefit Amounts and Performance Shares
by the product (rounded to two (2) decimals) of (I) the Benefit Amounts and (II) the difference between one hundred percent (100%) and the applicable Vesting Percentage and (B) reducing any such earnings by the product (rounded
to two (2) decimals) of (I) the amount of such earnings and (II) the difference between one hundred percent (100%) and the applicable Vesting Percentage. 
  

 21 

 (v) Crediting of Earnings and Debiting of Losses. In the event that a
Participant’s Eligibility Termination Date is neither a Valuation Date nor the last day of a Plan Year, such Eligibility Termination Date shall be deemed to be a Valuation Date and the last day of the Plan Year, and the Administrator shall
determine the applicable Earnings Credits (if any) and value the Participant’s Benefit Account in accordance with Section 3.4(d). 
 3.5 Rollover Accounts. 
 (a) Crediting of Rollover Amount. As soon as administratively possible
following the Administrator’s determination of the Rollover Amount with respect to a Rollover Participant, the Administrator shall credit to the Rollover Account of the Rollover Participant the Rollover Amount (if any) that shall be determined
by the Administrator in his or her sole discretion. 
 (b) Crediting of Earnings. 
 (i) Elections. A Rollover Participant may elect as the Earnings Crediting Rate that shall apply to all or a designated portion of
the Rollover Participant’s Rollover Account the earnings rate on one (1) of the investment options that the Administrator shall from time to time designate. A Rollover Participant make his or her initial election of the Earnings Crediting
Rate(s) that shall apply to the Rollover Participant’s Rollover Account by properly completing an investment option form and filing it with the Administrator. A Rollover Participant who has filed an investment option form with the Administrator
may elect to change his or her investment election with respect to either the investment of future amounts credited to the Rollover Participant’s Rollover Account and/or the investment of all or a designated portion of the current balance of
the Rollover Participant’s Rollover Account by so designating on a new investment option form and filing the form with the Administrator or, in accordance with procedures adopted by the Administrator, by so notifying the Administrator in any
manner acceptable to the Administrator; provided, however, that a Participant may not change his or her investment election of Common Stock and any such election of Common Stock as an investment option shall be irrevocable and remain in effect until
the Participant’s Distributable Amount is distributed pursuant to Section 4.2 of this Plan. Except as otherwise provided by the Administrator with respect to one (1) or more investment options, any initial investment election made
pursuant to this Paragraph shall be effective as soon as administratively possible after August 31, 2003, and any subsequent investment election made pursuant to this Paragraph shall be effective as soon as administratively possible after the
date that the Rollover Participant files the investment option form with the Administrator or otherwise notifies the Administrator of his or her election, and each investment election shall continue in effect until the effective date of a subsequent
investment election properly made. 
 The Administrator shall adopt and may amend procedures to be followed by Rollover Participants in
electing Earnings Crediting Rate(s) and, pursuant thereto, the Administrator may, among other actions, format investment option forms and establish deadlines for elections. 
 (ii) No Election. The Administrator shall from time to time designate a fixed income fund or other investment option that shall be
used to establish the Earnings Crediting Rate that shall apply to the Rollover Account of any Rollover Participant who has not made an investment option election pursuant to Subparagraph (i) above. 
  

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 (iii) Earnings Credits. As of each Valuation Date, the Administrator shall
determine the Earnings Credit applicable to the Rollover Account of each Rollover Participant for the Valuation Period ending on the Valuation Date (or the portion thereof during which the Rollover Account was maintained): (i) if only one
(1) Earnings Crediting Rate shall have applied to the Rollover Account pursuant to Subsection (i) above, the Earnings Credit shall equal (A) the Earnings Crediting Rate (on an annual basis) times (B) the balance in the Rollover
Account as of the later of the last preceding Valuation Date or the date as of which the Rollover Account was established times (C) the days in the Valuation Period (or portion thereof) divided by (D) 365; and (ii) if more than one
(1) Earnings Crediting Rate shall have applied to the Rollover Account pursuant to Subsection (i) above, as applicable, the Earnings Credit shall equal the sum of each amount determined as (A) the Earnings Crediting Rate (on an annual
basis) times (B) the portion of the balance in the Rollover Account as of the later of the last preceding Valuation Date or the date as of which the Rollover Account was established to which such rate applied times (C) the days in the
Valuation Period (or portion thereof) divided by (D) 365. 
 (iv) Accounting. As of each Valuation Date, the
balance in each Rollover Account maintained as of the Valuation Date shall be determined as the amount calculated in accordance with the following: 
 (A) The balance (if any) in the Rollover Account as of the later of the last preceding Valuation Date or the date as of which the Rollover Account was established; plus 
 (B) Any positive Earnings Credit determined for the Rollover Account pursuant to Section 3.5(b)(iii) of this Plan during the
Valuation Period ending on the Valuation Date; less 
 (C) Any negative Earnings Credit determined for the Rollover Account
pursuant to Section 3.5(b)(iii) during the Valuation Period ending on the Valuation Date. 
 3.6 Distribution
Accounts. 
 (a) Accounting at Eligibility Termination Date. As of the Eligibility Termination Date
of a Participant, the Administrator shall take consecutively the actions in Paragraphs (i) and (ii) below, as applicable, which such actions shall be taken subsequently to the actions to be taken by the Administrator pursuant to Sections
3.3(f), 3.4(d), 3.4(e), and 3.5(b): 
 (i) Crediting of Distributable Amount. The Administrator shall credit to the
Participant’s Distribution Account the sum of (A) the balance (if any) in his or her Benefit Account, and (B) the balance (if any) in his or her Deferral Account (if any), and (C) the balance (if any) in his or her Rollover
Account (if any), and any and all investment elections in effect with respect to each of such balances as of the Participant’s Eligibility Termination Date shall be maintained in full force and effect. 
 (ii) Effect on Benefit Account, Deferral Account, and Rollover Account. The Administrator shall reduce the balance (if any) in the
Participant’s Benefit Account, the balance (if any) in the Participant’s Deferral Account (if any), and the balance (if any) in the Participant’s Rollover Account (if any) to zero dollars ($0). 
  

 23 

 (b) Crediting of Earnings. 
 (i) Performance Shares. With respect to the Performance Shares in a Participant’s Distribution Account, the Administrator
shall take the following actions during the period beginning on a Participant’s Eligibility Termination Date and ending on the Participant’s Employment Termination Date: 
 (A) Accounting on Valuation Dates. As of each Valuation Date during the aforementioned period, the Administrator shall credit
earnings (if any) to the Performance Share in the Participant’s Distribution Account in accordance with the methodology set forth under Section 3.4(d)(i) of this Plan. 
 (B) Accounting at Employment Termination Date. In the event that a Participant’s Employment Termination Date is not a
Valuation Date, such Employment Termination Date shall be deemed to be a Valuation Date and the Administrator shall credit earnings (if any) to the Performance Shares in the Participant’s Distribution Account in accordance with the methodology
set forth under Section 3.4(d)(i) of this Plan. 
 (ii) Prior Deferral Account and Rollover Account Balances. With
respect to the portion of a Participant’s Distribution Account previously transferred from his or her Deferral Account and/or Rollover Account and not consisting of Performance Shares, the Administrator shall take the following actions during
the period beginning on a Participant’s Eligibility Termination Date and ending on the Participant’s Employment Termination Date: 
 (A) Accounting on Valuation Dates. As of each Valuation Date during the aforementioned period, the Administrator shall credit earnings (if any) to such portion of the Participant’s Distribution Account in
accordance with the methodology set forth under Section 3.3(f)(iii). 
 (B) Accounting at Employment Termination
Date. In the event that a Participant’s Employment Termination Date is not a Valuation Date, such Employment Termination Date shall be deemed to be a Valuation Date and the Administrator shall credit earnings (if any) on such portion of a
Participant’s Distribution Account in accordance with Section 3.3(f)(iii) and/or 3.5(b)(iii), as applicable. 
 (iii) Balance of Distribution Account. With respect to the balance of a Participant’s Distribution Account after the crediting of earnings under Paragraphs (i) and (ii) above, the Administrator shall take the following
actions during the period beginning on the Participant’s Eligibility Termination Date and ending on the Participant’s Employment Termination Date: 
 (A) Annual Accounting Before Employment Termination Date. As of the last day of each Plan Year during the aforementioned period,
the Administrator shall credit earnings to the Distribution Account (if any) of each Participant whose Employment Termination Date has not occurred by the last day of the Plan Year, where the amount of such earnings shall equal the product (rounded
to two (2) decimal places) of (A) the Long-term Rate for the Performance Cycle in which the Plan Year occurs, (B) the sum of the monthly balances in the Distribution Account during the Plan Year not otherwise credited with earnings
under Paragraph (i) or (ii) above, and (C) the quotient (rounded to four (4) decimal places) of (I) the number of whole months during the Plan Year in which the Distribution Account had a balance, and (II) twelve (12).

  

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 (B) Accounting at Employment Termination Date. As of the Employment Termination
Date of a Participant, if such date is later than the Participant’s Eligibility Termination Date, the Administrator shall credit earnings to the Participant’s Distribution Account, where the amount of such earnings shall equal the product
(rounded to two (2) decimal places) of (A) the Long-term Rate for the Performance Cycle in which the Participant’s Employment Termination Date occurred, (B) the sum of the monthly balances in the Participant’s Distribution
Account during the Plan Year in which his or her Employment Termination Date occurred not otherwise credited with earnings under Paragraph (i) or (ii) above, and (C) the quotient (rounded to four (4) decimal places) of
(I) the number of whole months during such Plan Year in which the Participant’s Distribution Account had a balance, and (II) twelve (12). 
 (iv) Annual Accounting Following Employment Termination Date. With respect to a Participant whose Employment Termination Date has occurred but who is receiving, or a deceased Participant whose Beneficiary or
Beneficiaries are receiving, installment distributions of the Participant’s Distributable Amount pursuant to Section 4.2, as of each anniversary date of the Participant’s Employment Termination Date, the Administrator shall credit
earnings to the Participant’s Distribution Account, where the amount of such earnings shall equal the product (rounded to two (2) decimal places) of (A) the Long-term Rate for the Performance Cycle in which such anniversary date
occurs and (B) the balance in the Participant’s Distribution Account as of such anniversary date. 
  

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 ARTICLE IV 
 DISTRIBUTION OF BENEFITS 
 4.1 Election of Form and Medium of Distribution to Participant.
Subject to Article IX, at the time a Participant completes the enrollment form required by Section 2.1 and at any other such times as the Administrator, in his or her sole discretion, may prescribe: 
 (a) The Participant may elect, in accordance with procedures established by the Administrator, to receive the Participant’s
Distributable Amount (if any) and/or any shares of Common Stock representing a distribution of the Participant’s Option Shares Account (if any) payable upon his or her Employment Termination Date in one of the following forms of distribution:

 (i) a lump-sum distribution; or 
 (ii) annual installments over two (2), five (5) or ten (10) years if: 
 (A) with respect to any distribution of the Participant’s Option Shares Account, the Participant has (A) both attained age
fifty-five (55) and completed at least five (5) Years of Service or (B) completed fifteen (15) Years of Participation; or 
 (B) with respect to any portion of the Participant’s Distributable Amount attributable to a Grandfathered Amount, the Participant has (A) both attained age fifty-five (55) and completed at least five
(5) Years of Service or (B) completed fifteen (15) Years of Participation; or 
 (C) with respect to any
portion of the Participant’s Distributable Amount attributable to a Section 409A Amount, the Participant has both attained age fifty-five (55) and completed at least five (5) Years of Service. 
 (b) The Participant may elect, in accordance with procedures established by the Administrator, to receive any such lump-sum distribution
or annual installments in cash, in shares of Common Stock, or partially in cash and partially in shares of Common Stock; provided, however, that any Performance Shares and any other portion of the Participant’s Distributable Amount with respect
to which the Participant previously elected Common Stock as an investment option shall be paid in shares of Common Stock in accordance with Section 4.2(d). 
 4.2 Distributions Upon Termination of Employment. Subject to Articles V and IX: 
 (a)
Available Benefits. Upon the Employment Termination Date of a Participant, the Participant or his or her Beneficiary or Beneficiaries, if the Participant has died, shall be eligible to receive payment of the Distributable Amount. 

 

 26 

 (b) Form and Medium of Payment. 
 (i) Payment to Participant. A Participant who is eligible for payment of the Distributable Amount pursuant to Subsection
(a) above shall receive the Distributable Amount in the form and medium elected by the Participant on the most recent election form filed by the Participant pursuant to Section 4.1 prior to the Plan Year in which his or her Employment
Termination Date occurs; provided, however, that: 
 (A) any Performance Shares and any other portion of the
Participant’s Distributable Amount with respect to which the Participant previously elected Common Stock as the investment option shall be paid in shares of Common Stock; and 
 (B) subject to Paragraph (A) above and Section 9.2(c), if no such election form was filed with the Administrator, the
Distributable Amount shall be paid as a lump-sum distribution in cash. 
 (ii) Payment to Beneficiary. Subject to
Section 9.3 with respect to a Section 409A Amount, a Beneficiary of a deceased Participant who is eligible for payment of all or part of the Distributable Amount pursuant to Subsection (a) above shall receive all or such part, as
applicable, of the Distributable Amount as a lump-sum distribution in cash and in shares of Common Stock to the extent of the Performance Shares (if any) and any other portion of the Participant’s Distributable Amount with respect to which the
Participant previously elected Common Stock as the investment option. 
 (c) Timing of Payment. The Distribution Date
for payment of the Distributable Amount in accordance with Subsections (a) and (b) above shall be the earliest date administratively possible within the ninety (90)-day period following the respective Participant’s Employment
Termination Date. 
 (d) Payment in Common Stock. If all or part of a Participant’s Distributable Amount shall be
paid in shares of Common Stock (treasury shares, authorized and unissued shares, authorized and issued shares, or a combination of the foregoing), the Administrator shall calculate the number of such shares of Common Stock as follows and the whole
number of shares so calculated shall be paid in shares of Common Stock and the value of any fractional shares shall be paid in cash. 
 (i) With respect to the portion of the Distributable Amount not represented by Performance Shares, as the quotient (rounded to two decimal places) of (A) such portion of the Distributable Amount and (B) the Common Stock Price as
of the Participant’s Employment Termination Date. 
 (ii) With respect to the portion of the Distributable Amount
represented by Performance Shares, as the product of (A) the number of Performance Shares and (B) the Common Stock Price as of the Participant’s Employment Termination Date. 
 (e) Payment of Installment Distributions. Subject to Section 9.2(d) with respect to a Section 409A Amount, after the
Distribution Date of a Participant who shall receive installment distributions of the Distributable Amount, each subsequent installment distribution that shall be due shall be paid to the Participant as of the next succeeding anniversary of the
Participant’s Employment Termination Date; provided, however, that, in the event of the death of the Participant before all such 

  

 27 

 
installment distributions shall be made, all or part, as applicable, of the total of the remaining installment distributions shall be paid as of the next
succeeding anniversary of the Participant’s Employment Termination Date to the Participant’s Beneficiary or each of his or her Beneficiaries, as applicable; provided, however, that if the Participant elected to receive the Distributable
Amount in the form of annual installments and the Participant dies prior to receiving all of such annual installments, the Administrator may, in his or her sole discretion, allow the Beneficiary of the deceased Participant to continue receiving
installment payments rather than receiving such remaining payments as a lump sum except as otherwise provided in Section 9.3 with respect to any Section 409A Amounts. 
 (f) Administrative Matters. Subject to Section 8.5, the Administrator may, in his or her sole discretion, delay the
Distribution Date for the benefits payable to or on behalf of a Participant to the extent necessary to determine the benefits properly. 
 4.3 Distribution of Option Shares Accounts. Subject to Article V: 
 (a) Available Benefits. Upon the
Employment Termination Date of a Participant, the Participant or his or her Beneficiary or Beneficiaries, if the Participant has died, shall be eligible to receive payment of the Option Shares in the Participant’s Option Shares Account in
accordance with this Section. 
 (b) Form of Payment. 
 (i) Payment to Participant. As of the Distribution Date defined in accordance with Section 4.2(c), a Participant who is
eligible for payment of the Option Shares in the Participant’s Option Shares Account pursuant to Subsection (a) above shall receive, calculated as of the Participant’s Employment Termination Date, either (A) one (1) payment
of a number of shares of Common Stock equal to the whole number of Option Shares in the Participant’s Option Shares Account and cash equal to the value of any fractional Option Shares, or (B) one (1) installment payment of a number of
shares of Common Stock equal to the quotient of: (1) the number of Option Shares in the Participant’s Option Shares Account and (2) the number of installment payments elected by the Participant on the most recent election form filed
by the Participant pursuant to Section 4.1 prior to the Plan Year in which his or her Employment Termination Date occurs; provided, however, that, if no such election form was filed with the Administrator, a lump-sum distribution shall be paid.

 (ii) Payment to Beneficiary. As of the Distribution Date determined in accordance with Section 4.2(c), a
Beneficiary of a deceased Participant who is eligible for payment of all or some of the Option Shares in the Participant’s Option Shares Account pursuant to Subsection (a) above shall receive, calculated as of the Participant’s
Employment Termination Date, the Beneficiary’s share of the number of shares of Common Stock as equals the number of Option Shares in the Participant’s Option Shares Account and cash equal to the value of any fractional Option Shares.

 (c) Payment of Installment Distributions. After the Distribution Date of a Participant who shall receive installment
distributions of the Option Shares in the Participant’s Option Shares Account, each subsequent installment distribution that shall be due shall be paid to the 

  

 28 

 
Participant as of the next succeeding anniversary of the Participant’s Employment Termination Date, where the amount of each installment distribution
shall be equal to the amount of the first such installment distribution, as calculated pursuant to Subsection (b)(i) above, except that an installment distribution due after any additional Dividend Shares are credited to a Participant’s Option
Shares Account pursuant to Section 3.2 shall include such Dividend Shares and a cash payment shall be made of the value of any fractional Option Shares remaining when the final installment distribution shall be paid; provided, however, that, in
the event of the death of the Participant before all such installment distributions shall be made, all or part, as applicable, of the total of the remaining installment distributions shall be paid as of the next succeeding anniversary of the
Participant’s Employment Termination Date to the Participant’s Beneficiary or each of his or her Beneficiaries, as applicable; provided, however, that if the Participant elected to receive the Option Shares in the form of installments and
the Participant dies prior to receiving all of such installments, the Administrator may, in his or her sole discretion, allow the Beneficiary of the deceased Participant to continue receiving installment payments rather than receiving such remaining
payments as a lump sum. 
 (d) Cash for Withholding Taxes. Notwithstanding Subsections (b) and (c) above, a
Participant or a Beneficiary of a deceased Participant may request, in accordance with procedures established by the Administrator, that a distribution in cash be made to the extent required for him or her to pay any withholding taxes attributable
thereto. 
 (e) Administrative Matters. Subject to Section 8.5, the Administrator may, in his or her sole
discretion, delay the distribution date for the benefits payable to or on behalf of a Participant to the extent necessary to determine the benefits properly. 
 4.4 In-service Distribution from Deferral Accounts. The Administrator may, but shall not be required to, establish procedures under which an in-service distribution may be made to a Participant of Bonus
Deferral Amounts or Salary Deferral Amounts in his or her Deferral Account (if any) in the event that the Participant has an unforeseeable emergency, as described in Subsection (a) below, and the distribution is reasonably needed to satisfy the
unforeseeable emergency, as described in Subsection (b) below: 
 (a) Unforeseeable Emergency. With respect to a
Participant, an unforeseeable emergency is severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of a “dependent” of the Participant, as such term shall be defined in
Code Section 152(a); loss of the Participant’s property due to casualty; or another similar extraordinary and unforeseeable set of circumstances arising as a result of events beyond the control of the Participant. 
 (b) Distribution Reasonably Necessary to Satisfy Emergency. A distribution shall be deemed to be reasonably necessary to satisfy a
Participant’s unforeseeable emergency if the following requirements are met: 
 (i) The distribution does not exceed the
amount of the Participant’s financial need plus amounts necessary to pay any income taxes or penalties reasonably anticipated to result from the distribution; 
  

 29 

 (ii) The Participant’s financial need cannot be relieved: 
 (A) Through reimbursement or compensation by insurance or otherwise, 
 (B) By liquidation of the Participant’s assets, to the extent that such liquidation would not itself cause severe financial
hardship, or 
 (C) By the termination of the Participant’s election (if any) with respect to a Bonus Deferral Amount or
Salary Deferral Amounts. 
 4.5 Beneficiaries. The Administrator shall provide to each new Participant a form on which he or she may
designate (a) one or more Beneficiaries who shall receive all or a portion of the Distributable Amount upon the Participant’s death, including any Beneficiary who shall receive any such amount only in the event of the death of another
Beneficiary; and (b) the percentages to be paid to each such Beneficiary (if there is more than one). A Participant may change his or her or her Beneficiary designation from time to time by filing a new form with the Administrator. No such
Beneficiary designation shall be effective unless and until the Participant has properly filed the completed form with the Administrator, and a Beneficiary designation form that designates the spouse of a Participant as his Beneficiary (whether or
not any other Beneficiary is also designated) shall be void with respect to the designation of the spouse upon the divorce of the Participant and the spouse with the result that the Participant’s former spouse shall not be a Beneficiary unless
the Participant files a new form with the Administrator and designates his or her former spouse as a Beneficiary. 
 If a deceased
Participant is not survived by a designated Beneficiary or if no Beneficiary was effectively designated, upon the Participant’s death, any benefit to which the Participant was then entitled shall be paid in a lump-sum distribution in cash to
the Participant’s spouse and, if there is no spouse, to the Participant’s estate. If a designated Beneficiary is living at the death of the Participant but dies before receiving any or all of the benefit to which the Beneficiary was
entitled, such benefit or the remaining portion of such benefit shall be paid in a lump-sum distribution in cash to the estate of the deceased Beneficiary. 
  

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 ARTICLE V 
 CLAIMS AND ADMINISTRATION 
 5.1 Applications. A Participant or the Beneficiary of a deceased
Participant who is or may be entitled to benefits under this Plan shall apply for such benefits in writing if and as required by the Administrator, in his or her sole discretion. 
 5.2 Information and Proof. A Participant or the Beneficiary of a deceased Participant shall furnish all information and proof required by the
Administrator for the determination of any issue arising under the Plan including, but not limited to, proof of marriage to a Participant or a certified copy of the death certificate of a Participant. The failure by a Participant or the Beneficiary
of a deceased Participant to furnish such information or proof promptly and in good faith, or the furnishing of false or fraudulent information or proof by the Participant or Beneficiary, shall be sufficient reason for the denial, suspension, or
discontinuance of benefits thereto and the recovery of any benefits paid in reliance thereon. 
 5.3 Notice of Address Change. Each
Participant and any Beneficiary of a deceased Participant who is or may be entitled to benefits under this Plan shall notify the Administrator in writing of any change of his or her address. 
 5.4 Claims Procedure. 
 (a) Claim Denial. The Administrator shall provide adequate notice in writing to any Participant or Beneficiary of a deceased Participant whose application for benefits, made in accordance with Section 5.1 of this Plan, has been
wholly or partially denied. Such notice shall include the reason(s) for denial, including references, when appropriate, to specific Plan or Trust Agreement provisions; a description of any additional information necessary for the claimant to perfect
the claim, if applicable and an explanation of why such information is necessary; and a description of the claimant’s right to appeal under Subsection (b) below. 
 The Administrator shall furnish such notice of a claim denial within ninety (90) days after the date that the Administrator received the claim. If
special circumstances require an extension of time for deciding a claim, the Administrator shall notify the claimant in writing thereof within such ninety (90)-day period and shall specify the date a decision on the claim shall be made, which shall
not be more than one hundred eighty (180) days after the date that the Administrator received the claim. Then, the Administrator shall furnish any denial notice on the claim by the later date so specified. 
 (b) Appeal Procedure. A claimant or his or her duly authorized representative shall have the right to file a written request for
review of a claim denial within sixty (60) days after receipt of the denial, to review pertinent documents, records and other information relevant to his or her claim without charge (including items used in the determination, even if not relied
upon in making the final determination and items demonstrating consistent application and compliance with this Plan’s administrative processes and safeguards), and to submit comments, documents, records, and other information relating to the
claim, even if the information was not submitted or considered in the initial determination. 
  

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 (c) Decision Upon Appeal. In considering an appeal made in accordance with
Subsection (b) above, the Administrator shall review and consider any written comments, documents, records, and other information relating to the claim, even if the information was not submitted or considered in the initial determination by the
claimant or his or her duly authorized representative. The claimant or his or her representative shall not be entitled to appear in person before any representative of the Administrator. 
 The Administrator shall issue a written decision on an appeal within sixty (60) days after the date the Administrator receives the appeal together
with any written comments relating thereto. If special circumstances require an extension of time for a decision on an appeal, the Administrator shall notify the claimant in writing thereof within such sixty (60)-day period. Then, the Administrator
shall furnish a written decision on the appeal as soon as possible but no later than one hundred twenty (120) days after the date that the Administrator received the appeal. The decision on the appeal shall be written in a manner calculated to
be understood by the claimant and shall include specific references to the pertinent Plan provisions on which the decision is based. If the claimant loses on appeal, the decision shall include the following information provided in a manner
calculated to be understood by the claimant: (1) the specific reason(s) for the adverse determination; (2) reference to the specific Plan provisions on which the determination is based; (3) a statement of the claimant’s right to
receive at no cost information and copies of documents relevant to the claim, even if such information was not relied upon in making determinations; and (4) a statement of the claimant’s rights to sue under ERISA. 
 5.5 Status, Responsibilities, Authority and Immunity of Administrator. 
 (a) Appointment and Status of Administrator. The Plan Sponsor shall appoint the Administrator. The Plan Sponsor may remove the
Administrator and appoint another Administrator or, if the Administrator is a committee, the Plan Sponsor may remove any or all members of the committee and appoint new members. The Administrator shall be the “administrator” of the Plan,
as such term shall be defined in Section 3(16)(A) of ERISA. 
 (b) Responsibilities and Discretionary Authority.
The Administrator shall have absolute and exclusive discretion to manage the Plan and to determine all issues and questions arising in the administration, interpretation, and application of the Plan and the Trust Agreement, including, but not
limited to, issues and questions relating to a Participant’s eligibility for Plan benefits and to the nature, amount, conditions, and duration of any Plan benefits. Furthermore, the Administrator shall have absolute and exclusive discretion to
formulate and to adopt any and all standards for use in calculations required in connection with the Plan and rules, regulations, and procedures that he or she deems necessary or desirable to effectuate the terms of the Plan; provided, however, that
the Administrator shall not adopt a rule, regulation, or procedure that shall conflict with this Plan or the Trust Agreement. Subject to the terms of any applicable contract or agreement, any interpretation or application of this Plan or the Trust
Agreement by the Administrator, or any rules, regulations, and procedures duly adopted by the Administrator, shall be final and binding upon Employees, Participants, Beneficiaries, and any and all other persons dealing with the Plan. 
  

 32 

 (c) Delegation of Authority and Reliance on Agents. The Administrator may, in his
or her discretion, allocate ministerial duties and responsibilities for the operation and administration of the Plan to one or more persons, who may or may not be Employees, and employ or retain one or more persons, including accountants and
attorneys, to render advice with regard to any responsibility of the Administrator. 
 (d) Reliance on Documents. The
Administrator shall incur no liability in relying or in acting upon any instrument, application, notice, request, letter, or other paper or document believed by the Administrator to be genuine, to contain a true statement of facts, and to have been
executed or sent by the proper person. 
 (e) Immunity and Indemnification of Administrator. The Administrator shall
not be liable for any of his or her acts or omissions, or the acts or omissions of any employee or agent authorized or retained pursuant to Subsection (c) above by the Administrator, except any act of the Administrator or any such person as
constitutes gross negligence or willful misconduct. The Plan Sponsor shall indemnify the Administrator, to the fullest extent permitted by law, if the Administrator is ever made a party or is threatened to be made a party to any threatened, pending,
or completed action, suit, claim, or proceeding, whether civil, criminal, administrative, or investigative (including, but not limited to, any action by or in the right of the Plan Sponsor), by reason of the fact that the Administrator is or was, or
relating to the Administrator’s actions as, the Administrator, against any expenses (including attorneys’ fees), judgments, fines, and amounts paid in settlement that the Administrator incurs as a result of, or in connection with, such
action, suit, claim, or proceeding, provided that the Administrator had no reasonable cause to believe that his or her conduct was unlawful. 
 5.6 Enrollment, Deferral Election and Other Procedures. The Administrator shall adopt and may amend procedures to be followed by Eligible Employees and Participants in electing to participate in this Plan, in electing to have Bonus
Deferral Amounts and Salary Deferral Amounts made on their behalf, in selecting a form of distribution of any Distributable Amount, and in taking any other actions required thereby under this Plan. Notwithstanding the foregoing sentence, any
enrollment, deferral election and other procedures relating to Section 409A Amounts shall be subject to the provisions of Article IX of the Plan. 
 5.7 Correction of Prior Incorrect Allocations. Notwithstanding any other provisions of this Plan, in the event that an adjustment to a Performance Shares Account, Benefit Account, Deferral Account, Option
Shares Account, Rollover Account, or Distribution Account shall be required to correct an incorrect allocation to such account, the Administrator shall take such actions as he or she deems, in his or her sole discretion, to be necessary or desirable
to correct such prior incorrect allocation. 
 5.8 Facility of Payment. If the Administrator shall determine that a Participant or the
Beneficiary of a deceased Participant to whom a benefit is payable is unable to care for his or her affairs because of illness, accident or other incapacity, the Administrator may, in his or her discretion, direct that any payment otherwise due to
the Participant or Beneficiary be paid to the legal guardian or other representative of the Participant or Beneficiary. Furthermore, the Administrator may, in his or her discretion, direct that any payment otherwise due to a minor Participant or
Beneficiary of a deceased Participant be paid to the guardian of the minor or the 

  

 33 

 
person having custody of the minor. Any payment made in accordance with this Section to a person other than a Participant or the Beneficiary of a deceased
Participant shall, to the extent thereof, be a complete discharge of the Plan’s obligation to the Participant or Beneficiary. 
 5.9
Unclaimed Benefits. If the Administrator cannot locate a Participant or the Beneficiary of a deceased Participant to whom payment of benefits under this Plan shall be required, following a diligent effort by the Administrator to locate the
Participant or Beneficiary, such benefit shall be forfeited. 
  

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 ARTICLE VI 
 STATUS OF PLAN AND TRUST AGREEMENT 
 6.1 Unfunded Status of Plan. The Plan constitutes a mere
promise by the Plan Sponsor to pay benefits in accordance with the terms of the Plan, and, to the extent that any person acquires a right to receive benefits from the Plan Sponsor under this Plan, such right shall be no greater than any right of any
unsecured general creditor of the Plan Sponsor. Subject to Section 6.2, nothing contained in this Plan and no action taken pursuant to the provisions of this Plan shall create or be construed so as to create a trust of any kind, or a fiduciary
relationship between the Plan Sponsor and any Participant, Beneficiary, or other person. 
 6.2 Shares to be Issued. The aggregate
number of shares of Common Stock that may be issued by the Plan Sponsor to satisfy the obligations under the Plan shall not exceed two million (2,000,000) shares of Common Stock. The Common Stock may come from treasury shares, authorized but
unissued shares, or previously issued shares that the Plan Sponsor reacquires, including shares it purchases on the open market. In the event of a nonreciprocal transaction between the Plan Sponsor and its shareholders that causes the per-share fair
value of the Common Stock to change, such as a stock dividend, stock split, spin-off, rights offering, or recapitalization through a large nonrecurring cash dividend, this Section 6.2 of the Plan shall be deemed to be proportionately and
appropriately amended to adjust the maximum number of shares of Common Stock subject to the Plan pursuant to this Section. 
 Solely for
purposes of documenting administrative practice under the terms of the Plan, in the event of such a nonreciprocal transaction between the Plan Sponsor and its shareholders that causes the per-share fair value of the Common Stock to change, such as a
stock dividend, stock split, spin-off, rights offering, or recapitalization through a large nonrecurring cash dividend, the Performance Shares Accounts, Option Shares Accounts, Deferral Accounts, Benefit Accounts, Rollover Accounts, and Distribution
Accounts under the Plan shall be proportionately and appropriately adjusted in the type(s), class(es), number of shares, and Common Stock Price credited to such Performance Shares Accounts, Option Shares Accounts, Deferral Accounts, Benefit
Accounts, Rollover Accounts, and Distribution Accounts under the Plan. The Administrator shall make any such adjustments so that the proportionate interest of each Participant immediately following any of the foregoing events will, to the extent
practicable, be the same as immediately preceding any such event, and the Administrator’s adjustments shall be final, binding, and conclusive. 
 6.3 Existence and Purposes of Trust Agreement. 
 (a) Existence of Trust Agreement. In accordance with
Section 6.1, the Plan Sponsor may enter into a Trust Agreement with a trustee to hold a trust fund that may become the source of Plan benefits as provided in the Trust Agreement, and such trust fund may hold shares of Common Stock. In such
event, the trustee would have such powers to hold, invest, reinvest, control, and disburse such trust fund as shall, at such time and from time to time, be set forth in the Trust Agreement or this Plan. 
  

 35 

 (b) Integration of Trust Agreement. The Trust Agreement shall be deemed to be a
part of this Plan, and all rights of Participants and Beneficiaries of deceased Participants under this Plan shall be subject to the provisions of the Trust Agreement, if and as applicable. 
 (c) Rights to Any Trust Fund Assets. No Participant or Beneficiary of a deceased Participant, nor any other person, shall have any
right to, or interest in, any assets of the trust fund maintained under the Trust Agreement upon termination of such Participant’s employment or otherwise, except as may be specifically provided from time to time in this Plan, the Trust
Agreement, or both, and then only to the extent so specifically provided. 
  

 36 

 ARTICLE VII 
 PLAN AMENDMENT OR TERMINATION 
 7.1 Right to Amend. The Plan Sponsor reserves the right to
amend the Plan, by action duly taken by its Board of Directors, at any time and from time to time to any extent that the Plan Sponsor may deem advisable, and any such amendment shall take the form of an instrument in writing duly executed by one or
more individuals duly authorized by the Board of Directors. Without limiting the generality of the foregoing, the Plan Sponsor specifically reserves the right to amend the Plan retroactively as may be deemed necessary. Notwithstanding the foregoing
sentences, the Plan Sponsor shall not amend the Plan so as to change the method of calculating the Benefit Amount attributable to any Performance Shares in any Participant’s Performance Shares Account as of the date that such an amendment would
otherwise be effective; so as to reduce the balance in the Deferral Account, Benefit Account, Option Shares Account, Rollover Account, or Distribution Account of any Participant as of such otherwise effective date; or so as to reduce the Vesting
Percentage applicable to any Benefit Amount of any Participant that shall have been credited to the Participant’s Benefit Account (plus any earnings credited thereon) prior to such otherwise effective date (whether or not such Vesting
Percentage shall have been determined pursuant to Section 3.4 as of such date), unless any such amendment shall be reasonably required to comply with applicable law or to preserve the tax treatment of benefits provided under the Plan or is
consented to by the affected Participant. 
 7.2 Right to Terminate. The Plan Sponsor reserves the right to terminate the Plan, by
action duly taken by its Board of Directors, at any time as the Plan Sponsor may deem advisable. Upon termination of the Plan, (a) if the trust fund maintained under the Trust Agreement has not become the source for Plan benefits, the Plan
Sponsor shall pay or provide for the payment of all liabilities with respect to Participants and Beneficiaries of deceased Participants by distributing amounts to and on behalf of such Participants and Beneficiaries; and (b) if the trust fund
maintained under the Trust Agreement has become the source for Plan benefits, the Plan Sponsor shall direct the trustee thereof to pay to or provide for the payment of all reasonable administrative expenses of the Plan and trust fund, and thereafter
the Plan Sponsor shall direct such trustee to use and apply the remaining assets of the trust fund to provide for liabilities thereof with respect to Participants and Beneficiaries of deceased Participants by continuing the trust fund and making
provision under the Trust Agreement for the payment of such liabilities or by distributing amounts from the trust fund to and on behalf of such Participants and Beneficiaries; provided that, if, after payment or provision for payment of all
reasonable administrative expenses of the Plan and trust fund maintained under the Trust Agreement and satisfaction of all liabilities of such trust fund with respect to Participants and Beneficiaries of deceased Participants, there shall be excess
assets remaining, the trustee thereof shall pay such excess assets to the Plan Sponsor. 
  

 37 

 ARTICLE VIII 
 MISCELLANEOUS 
 8.1 No Guarantee of Employment. Nothing contained in this Plan shall be
construed as a contract of employment between any Employee and the Plan Sponsor or any Employer, as a right of any Employee to be continued in any employment position with, or the employment of, the Plan Sponsor or any Employer, or as a limitation
of the right of the Plan Sponsor or any Employer to discharge any Employee. 
 8.2 Nonalienation of Benefits. Any benefits or rights
to benefits payable under this Plan shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, garnishment, execution, or levy of any kind, either voluntary or involuntary, including any
such liability that is for alimony or other payments for the support of a Beneficiary or former Beneficiary, or for the support of any other relative, before payment thereof is received by the Participant, Beneficiary of a deceased Participant, or
other person entitled to the benefit under the Plan; and any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, charge, or otherwise dispose of any right to benefits payable under this Plan shall be void; provided, however,
that this Section shall not prohibit the Administrator from offsetting, pursuant to Section 8.3 of this Plan, any payments due to a Participant, the Beneficiary of a deceased Participant, or any other person who may be entitled to receive a
benefit under this Plan. 
 8.3 Offset of Benefits. Notwithstanding anything in this Plan to the contrary, in the event that a
Participant or the Beneficiary of a deceased Participant owes any amount to the Plan, the Plan Sponsor, or any other Employer, whether as a result of an overpayment or otherwise, the Administrator may, in his or her discretion, offset the amount
owed or any percentage thereof in any manner against any payments due from the Plan to the Participant or Beneficiary. 
 8.4 Taxes.
Neither the Plan Sponsor nor any Employer represents or guarantees that any particular federal, state, or local income, payroll, personal property or other tax consequence will result from participation in this Plan or payment of benefits under this
Plan. Notwithstanding anything in this Plan to the contrary, the Administrator may, in his or her sole discretion, deduct and withhold applicable taxes from any payment of benefits under this Plan. For the avoidance of doubt, each Participant and
Beneficiary shall be responsible for any and all taxes, interest, and penalties with respect to his or her Section 409A Amounts. The Administrator also may permit such obligations to be satisfied by the transfer to the Plan Sponsor or any
Employer of cash, shares of Common Stock, or other property. 
 8.5 Timing of Distributions. The provisions of this Section 8.5
shall apply notwithstanding any provisions of the Plan to the contrary. The timing of all distributions under the Plan is subject to the Plan Sponsor’s and any Employer’s deduction limitations under Code Section 162(m). Distributions
instituted during a period during which the Plan Sponsor prevents trading in Common Stock (a “blackout period”) will not be effective until the first business day following the end of the blackout period. The Administrator also may, in his
or her sole discretion, postpone any distribution to comply with applicable law or internal policies of the Plan Sponsor. 
  

 38 

 8.6 Not Compensation Under Other Benefit Plans. No amounts in a Participant’s Benefit Account
or Deferral Account shall be deemed to be salary or compensation for purposes of the 401(k) Plan or any other employee benefit plan of the Plan Sponsor or any Employer except as and to the extent otherwise specifically provided in any such plan.

 8.7 Merger or Consolidation of Plan Sponsor. If the Plan Sponsor is merged or consolidated with another organization, or another
organization acquires all or substantially all of the Plan Sponsor’s assets, such organization may become the “Plan Sponsor” hereunder by action of its board of directors and by action of the board of directors of the Plan Sponsor if
still existent. Such change in plan sponsors shall not be deemed to be a termination of this Plan. 
 8.8 Savings Clause. If any term,
covenant, or condition of this Plan, or the application thereof to any person or circumstance, shall to any extent be held to be invalid or unenforceable, the remainder of this Plan, or the application of any such term, covenant, or condition to
persons or circumstances other than those as to which it has been held to be invalid or unenforceable, shall not be affected thereby, and, except to the extent of any such invalidity or unenforceability, this Plan and each term, covenant, and
condition hereof shall be valid and shall be enforced to the fullest extent permitted by law. 
 8.9 Governing Law. This Plan shall be
construed, regulated and administered under the laws of the District of Columbia to the extent not pre-empted by ERISA or any other federal law. 
 8.10 Construction. As used in this Plan, the masculine and feminine gender shall be deemed to include the neuter gender, as appropriate, and the singular or plural number shall be deemed to include the other, as appropriate, unless
the context clearly indicates to the contrary. 
 8.11 Headings No Part of Agreement. Headings of articles, sections and subsections
of this Plan are inserted for convenience of reference; they constitute no part of the Plan and are not to be considered in the construction of the Plan. 
  

 39 

 ARTICLE IX 
 SPECIAL PROVISIONS APPLICABLE TO SECTION 409A AMOUNTS 
 9.1 Scope. The provisions of this
Article IX shall apply to Section 409A Amounts only and shall not apply to any Grandfathered Amounts. If the provisions of this Article IX conflict with any other provisions of the Plan, the provisions of this Article IX shall control.

 9.2 Special Provisions. Notwithstanding any provision of Articles III and IV of the Plan and Section 5.6 of the Plan, with
respect to a Participant: 
 (a) Elections. With respect to any Section 409A Amount and in addition to any
enrollment form and election requirements provided for in the Plan or established by the Administrator, any election for a Plan Year shall be made not later than December 31 of the calendar year immediately preceding such Plan Year; provided,
however, that, in the case of the first Plan Year in which a Participant becomes an Eligible Employee, any election for the portion of the Plan Year during with the Participant is an Eligible Employee shall be made within thirty (30) days after
the date the Participant first becomes an Eligible Employee. 
 (b) Form and Medium of Distribution. Any election made
with respect to a Section 409A Amount pursuant to Section 9.2(a) above shall specify the form and medium of distribution with respect to that Section 409A Amount. The form of distribution so elected by a Participant shall be one of
the forms of distribution set forth in Section 4.1(a) of the Plan and shall be subject to the restriction in Section 4.1(a)(ii) of the Plan concerning the availability of installment payments. The medium of distribution shall be specified
in accordance with Section 4.1(b) of the Plan. 
 (c) Default Form of Payment. Notwithstanding
Section 4.2(b)(i)(B) of the Plan, with respect to any Participant who has both attained age fifty-five (55) and completed at least five (5) Years of Service, if such Participant fails to elect a form of distribution with respect to
any Section 409A Amount, the Participant shall be deemed to have elected to have such Section 409A Amount paid in the form of five (5) installment payments in accordance with the payment frequency set forth in Section 9.2(d)
below. 
 (d) Timing of Payment. Notwithstanding Article IV of the Plan and specifically Sections 4.2(c) and
(e) of the Plan, the Distribution Date for a Section 409A Amount (or the first installment of a Section 409A Amount, if applicable) shall be no earlier than the first day of the month following the last day of the six month period
commencing on the Participant’s Employment Termination Date. If pursuant to the terms of the Plan a Section 409A Amount is to be distributed in installments, the second installment of the Section 409A Amount shall be made on
January 15 of the calendar year following the date of payment of the initial installment, and each subsequent installment thereafter (if any) shall be made on each January 15 thereafter until all installment payments of a Section 409A
Amount have been paid to the Participant. In the avoidance of doubt, the amount of each installment payment of a Section 409A Amount shall equal the quotient of (i) the total Section 409A Amount to be distributed, divided by
(ii) the number of installment payments remaining in the applicable period of annual installments. 
  

 40 

 (e) Subsequent Changes in Time of Payment and Form of Distribution. With respect
to a Section 409A Amount, a Participant may elect to delay a payment of the Section 409A or to change the form of distribution of the Section 409A Amount provided that the following conditions are met: 
 (i) Any election under this Section 9.2(e) shall not take effect until a date that is at least twelve (12) months after the date
on which the election is made. 
 (ii) The payment with respect to which an election under this Section 9.2(e) is made
shall be deferred for a period of not less than five (5) years from the date such payment would otherwise have been paid. 
 (iii) Any election under this Section 9.2(e) shall be made on a date that is not less than twelve (12) months prior to the date the payment is originally scheduled to be made. 
 (f) Permitted Payment Delays. Notwithstanding Section 8.5 of the Plan and in addition to the foregoing provisions of this
Section 9.2, a payment of a Section 409A Amount to a Participant may be delayed to a date after the designated payment date under either of the following two circumstances: 
 (i) Where the Plan Sponsor reasonably anticipates that an Employer’s deduction
with respect to the payment of a Section 409A Amount would otherwise be limited or eliminated by application of Code Section 162(m); provided, however, that such payment shall be made to the Participant (i) during the
Participant’s first taxable year in which the Plan Sponsor reasonably anticipates that the deduction of such payment will not be limited or eliminated by the application of Code Section 162(m), or, if later, (ii) during the period
beginning with the Participant’s Employment Termination Date and ending on the later of (A) the last day of the taxable year of the Plan Sponsor in which the Participant’s Employment Termination Date occurs or (B) the fifteenth
(15th) day of the third month following the Participant’s Employment Termination Date. 
 (ii) Where the Plan Sponsor reasonably anticipates that the making of the payment of the Section 409A Amount will violate Federal
Securities laws or other applicable law; provided, however, that such payment will be made to the Participant at the earliest date at which the Plan Sponsor reasonably anticipates that the making of such payment will not cause such violation.

 (g) Unforeseeable Emergency. For the avoidance of doubt, the provisions of Section 4.4 of the Plan shall apply
to any Bonus Deferral Amounts and any Salary Deferral Amounts that are considered to be Section 409A Amounts. 
 (h)
Plan Termination. Notwithstanding the provisions of Section 7.2 of the Plan, the termination of the Plan shall not accelerate the time and form of payment of any Section 409A Amount except when the Plan Sponsor elects to terminate
the Plan in accordance with one of the following: 
 (i) The Plan Sponsor elects to terminate the Plan within twelve
(12) months of a corporate dissolution taxed under Code Section 331 or with the approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A), provided that the Section 409A Amounts are included in Participants’ gross
incomes in the latest of (a) the calendar year in which the Plan termination occurs, (b) the calendar year in which the Section 409A Amount is no longer subject to a substantial risk of forfeiture, or (c) the first calendar year
in which the payment of the Section 409A Amount is administratively practical. 
  

 41 

 (ii) The Plan Sponsor elects to terminate the Plan under the following conditions:
(a) the Employer terminates all arrangements sponsored by the Employer that would be aggregated with any terminated arrangements under the regulations promulgated under Code Section 409A if the same Participant had deferrals of
compensation under all such terminated arrangements; (b) no payments (other than payments that would be payable under the terms of the arrangements if the termination had not occurred) are made within twelve (12) months of the termination
of the arrangements; (c) all payments are made within twenty-four (24) months of the termination of the arrangements; and (d) no Employer adopts a new arrangement that would be aggregated with any terminated arrangement under the
regulations promulgated under Code Section 409A if the same Participant participated in both arrangements, at any time within five (5) years following the date of termination of the Plan. 
 (iii) The Plan Sponsor elects to terminate the Plan in accordance with any such other events and conditions that the Commissioner of the
Internal Revenue Service may prescribe in generally applicable guidance published in the Internal Revenue Bulletin. 
 (i)
Definition of Payment. With respect to a Section 409A Amount, the entitlement to a series of installment payments shall be treated as the entitlement to a single payment, and each such installment payment shall not be considered a
separate payment hereunder. 
 9.3 Payments to a Beneficiary. Notwithstanding Section 4.2(e) of the Plan, with respect to any
Section 409A Amounts, if a Participant elected to receive the Distributable Amount in the form of annual installments and the Participant dies prior to receiving all of such annual installments, the Beneficiary of the deceased Participant shall
receive such remaining payments as a lump-sum in accordance with Section 4.2(b)(ii) of the Plan. 
  

 42 

 IN WITNESS WHEREOF, the Plan Sponsor has caused this amended and restated Plan to be executed by its duly
authorized officer as of the last date signed by the officer as set forth below. 
  

			
	PLAN SPONSOR:
	DANAHER CORPORATION
		
	By:	 	 
		 	Daniel L. Comas
		
	Date:	 	 

  

 43 

 DANAHER CORPORATION & SUBSIDIARIES 
 EXECUTIVE DEFERRED INCENTIVE PROGRAM 
 APPENDIX A 
 APPLICABLE PERCENTAGE 
  

	I.	EFFECTIVE PRIOR TO JANUARY 1, 2004: 

  

							
	 TARGET COMPENSATION
	  	AGE OF PARTICIPANT	 
	  	Under 40	 	 	40 and Over	 
	 Less than $150,000
	  	3.5	%	 	4.5	%
	 Greater than or equal to $150,000
	  	5.5	%	 	6.5	%

  

	II.	EFFECTIVE ON AND AFTER JANUARY 1, 2004: 

  

			
	 YEARS OF PARTICIPATION

	  	 APPLICABLE PERCENTAGE

	 0-10
	  	6%
	 11-15
	  	8%
	 Greater than 15
	  	10%

  

 A-1 

 DANAHER CORPORATION & SUBSIDIARIES 
 EXECUTIVE DEFERRED INCENTIVE PROGRAM 
 APPENDIX B 
 PRESENT VALUE FACTORS 
  

			
	 PV Factor 1+2+3
	  	2.6
		
	 PV Factor 1+2
	  	1.8
		
	 PV Factor 1
	  	  .9

  

	I.	EFFECTIVE PRIOR TO JANUARY 1, 2004: 

 MONTHS FACTORS 
  

			
	 Months Factor
	  	 PV Factor O

	 12
	  	  .9
	 11
	  	  .8
	 10
	  	  .8
	 9
	  	  .8
	 8
	  	  .8
	 7
	  	  .9
	 6
	  	1.0
	 5
	  	1.0
	 4
	  	1.0
	 3
	  	1.0
	 2
	  	1.0
	 1
	  	1.0

  

	II.	Effective Prior to January 1, 2004: 

 MONTHS FACTORS 
  

			
	 Eligibility Date
	  	 Prorata Factor

	 January 1st

	  	1.00
	 February 1st
	  	0.92
	 March 1st

	  	0.83
	 April 1st

	  	0.75
	 May 1st

	  	0.67
	 June 1st

	  	0.50
	 July 1st

	  	0.50
	 August 1st

	  	0.42
	 September 1st
	  	0.33
	 October 1st

	  	0.25
	 November 1st
	  	0.17
	 December 1st
	  	0.08

  

 B-1

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