Document:

<PAGE>

                                                                   Exhibit 10H

                                                                  EXECUTION COPY
                                                                  --------------

                              Dated July 25, 2000

                              Danaher Corporation

                               (Euro)300,000,000

                         6 1/4 percent Notes due 2005

                     _____________________________________

                            FISCAL AGENCY AGREEMENT

                     _____________________________________
<PAGE>

                                   CONTENTS

<TABLE>
<CAPTION>
Clause                                                               Page
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1.    INTERPRETATION...............................................    1

2.    APPOINTMENT OF PAYING AGENTS.................................    3

3.    AUTHENTICATION AND DELIVERY OF NOTES.........................    3

4.    PAYMENT TO THE FISCAL AGENT..................................    4

5.    NOTIFICATION OF NON-PAYMENT BY THE ISSUER....................    4

6.    DUTIES OF THE PAYING AGENTS..................................    4

7.    REIMBURSEMENT OF THE PAYING AGENTS...........................    5

8.    NOTICE OF ANY WITHHOLDING OR DEDUCTION.......................    5

9.    DUTIES OF THE FISCAL AGENT IN CONNECTION WITH REDEMPTION
        FOR TAXATION REASONS.......................................    5

10.   RECEIPT AND PUBLICATION OF NOTICES...........................    5

11.   CANCELLATION OF NOTES AND COUPONS............................    6

12.   ISSUE OF REPLACEMENT NOTES AND COUPONS.......................    6

13.   RECORDS AND CERTIFICATES.....................................    7

14.   COPIES OF THIS AGREEMENT AVAILABLE FOR INSPECTION............    7

15.   COMMISSIONS AND EXPENSES.....................................    7

16.   INDEMNITY....................................................    8

17.   REPAYMENT BY FISCAL AGENT....................................    8

18.   CONDITIONS OF APPOINTMENT....................................    8

19.   COMMUNICATION WITH PAYING AGENTS.............................    9

20.   TERMINATION OF APPOINTMENT...................................    9

21.   MEETINGS OF NOTEHOLDERS......................................   11
</TABLE>
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<TABLE>
<S>                                                                   <C>
22.   NOTICES......................................................   12

23.   TAXES........................................................   12

24.   COUNTERPARTS.................................................   13

25.   DESCRIPTIVE HEADINGS.........................................   13

26.   GOVERNING LAW AND SUBMISSION TO JURISDICTION.................   13

27.   AMENDMENTS...................................................   13

SCHEDULE 1.........................................................   14
         PART 1 - FORM OF THE TEMPORARY GLOBAL NOTE................   14
         PART 2 - FORM OF THE PERMANENT GLOBAL NOTE................   25

SCHEDULE 2.........................................................   33
         PART 1 - FORM OF DEFINITIVE NOTE AND COUPON...............   33
         PART 2 - CONDITIONS OF THE NOTES..........................   38

SCHEDULE 3

PROVISIONS FOR MEETINGS OF NOTEHOLDERS.............................   51
</TABLE>
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                              DANAHER CORPORATION

                               (Euro)300,000,000
                         6 1/4 percent Notes due 2005

                            FISCAL AGENCY AGREEMENT

Danaher Corporation
1250 24th Street, N.W.Table of Contents
Washington, D.C. 20037

                                                                   July 25, 2000

Ladies and Gentlemen:

WHEREAS:

(A)      Danaher Corporation (the "Issuer") has agreed to issue
         (Euro)300,000,000 6 1/4 percent Notes due 2005 (the "Notes" which
         expression shall include, unless the context otherwise requires, any
         further Notes issued pursuant to Condition 16 and forming a single
         series with the Notes).

(B)      The Notes will be issued in bearer form in the denominations of
         (Euro)1,000, (Euro)10,000 and (Euro)100,000 each having, in the case of
         definitive Notes (the "Definitive Notes"), interest coupons ("Coupons")
         attached.

(C)      The Notes will initially be represented by a temporary Global Note (the
         "Temporary Global Note") in or substantially in the form set out in
         Part 1 of Schedule 1 which will be exchanged in accordance with its
         terms for a permanent Global Note (the "Permanent Global Note" and,
         together with the Temporary Global Note, the "Global Notes") in or
         substantially in the form set out in Part 2 of Schedule 1.

(D)      If issued, the Definitive Notes and Coupons will be in or substantially
         in the respective forms set out in Part 1 of Schedule 2. The Terms and
         Conditions of the Notes (the "Conditions") will be in or substantially
         in the form set out in Part 2 of Schedule 2.

We wish to record the arrangements agreed between us for this purpose:

1.       INTERPRETATION

1.1      In this Agreement, any reference to principal or interest includes any
         additional amounts payable in relation thereto under Condition 9.

1.2      Terms and expressions used but not defined herein have the respective
         meanings given to them in the Conditions.

1.3      As used in this Agreement and in the Conditions:
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         "Conditions" means the Terms and Conditions of the Notes (as set out in
         Part 2 of Schedule 2 to this Agreement and as modified from time to
         time in accordance with their terms), and any reference to a numbered
         "Condition" is to the correspondingly numbered provision thereof;

         "(Euro)" and "euro" mean the single currency introduced at the start of
         the third stage of European economic and monetary union pursuant to the
         Treaty;

         "Fiscal Agent" and "Paying Agent" mean and include each Fiscal Agent
         and Paying Agent from time to time appointed to exercise the powers and
         undertake the duties conferred and imposed upon it by this Agreement
         and notified to the Noteholders under clause 20;

         "Noteholders" means the holders of the Notes for the time being;

         "Outstanding" means, in relation to the Notes, all the Notes issued
         other than:

         (a)   those Notes which have been redeemed in full and cancelled
               pursuant to Condition 7 or otherwise pursuant to the Conditions;

         (b)   those Notes in respect of which the due date for redemption under
               the Conditions has occurred and all sums due in respect of such
               Note (including all accrued interest) have been received by the
               Fiscal Agent in the manner provided in Clause 4 and remain
               available for payment against presentation and surrender of such
               Note or (as the case may be) the relevant Coupons;

         (c)   those Notes which have been purchased and cancelled under
               Condition 7;

         (d)   those Notes which have become void under Condition 11;

         (e)   those mutilated or defaced Notes which have been surrendered and
               cancelled and in respect of which replacements have been issued
               pursuant to Condition 12;

         (f)   (for the purposes only of ascertaining the principal amount of
               the Notes outstanding and without prejudice to the status for any
               other purpose of the relevant Notes) those Notes which are
               alleged to have been lost, stolen or destroyed and in respect of
               which replacements have been issued pursuant to Condition 12; or

         (g)   the Temporary Global Note to the extent that it has been duly
               exchanged for the Permanent Global Notes and/or Notes in
               definitive form and the Permanent Global Note to the extent that
               it has been exchanged for Notes in definitive form, in each case
               pursuant to their respective provisions,

         provided that for each of the following purposes, namely:

               (i)   the right to attend and vote at any meeting of the
                     Noteholders or any of them; and

               (ii)  the determination of how many and which Notes are for the
                     time being outstanding for the purposes of Schedule 3;

         those Notes (if any) which are for the time being held by any person
         (including but not limited to, the Issuer or any of its Subsidiaries)
         for the benefit of the Issuer or any of its Subsidiaries shall (unless
         and until ceasing to be so held) be deemed not to remain outstanding;

                                       2
<PAGE>

         "specified office" means in relation to any Fiscal Agent and Paying
         Agent the offices specified in clause 22 or any other specified offices
         as the Issuer may from time to time be duly notified pursuant to clause
         22; and

         "Treaty" means the Treaty establishing the European Community, as
         amended by the Treaty of European Union.

2.       APPOINTMENT OF PAYING AGENTS

2.1      The Issuer appoints, on the terms and subject to the conditions of this
         Agreement:

         (a)   Deutsche Bank AG London as fiscal and principal paying agent (the
               "Fiscal Agent") in respect of the Notes; and

         (b)   Deutsche Bank Luxembourg, S.A. and UBS AG as paying agents
               (together with the Fiscal Agent, the "Paying Agents") for the
               payment of principal of, and interest on, the Notes, in each case
               acting at its specified office.

2.2      The obligations of the Paying Agents are several and not joint.

3.       AUTHENTICATION AND DELIVERY OF NOTES

3.1      The Issuer undertakes that the Permanent Global Note (duly executed on
         behalf of the Issuer) will be available to be exchanged for interests
         in the Temporary Global Note in accordance with the terms of the
         Temporary Global Note.

3.2      The Issuer undertakes that it will deliver to, or to the order of, the
         Fiscal Agent, not later than 10 days prior, to the Exchange Date (as
         defined in the Permanent Global Note), the Definitive Notes (with
         Coupons attached) in an aggregate principal amount of (Euro)300,000,000
         or such lesser amount as is equal to the principal amount of Notes then
         outstanding. Each Definitive Note so delivered shall be duly executed
         on behalf of the Issuer.

3.3      The Issuer authorizes and instructs the Fiscal Agent (or its authorized
         agent) to authenticate the Global Notes and any Definitive Notes
         delivered pursuant to subclause 3.2.

3.4      The Issuer authorizes and instructs the Fiscal Agent to cause interests
         in the Temporary Global Note to be exchanged for interests in the
         Permanent Global Note or Definitive Notes, as the case may be, and
         interests in the Permanent Global Note to be exchanged for Definitive
         Notes, in each case in accordance with their respective terms.
         Following the exchange of the last interest in a Global Note, the
         Fiscal Agent shall cause the Global Note to be cancelled and delivered
         to the Issuer or as it may direct.

3.5      The Fiscal Agent shall cause all Notes delivered to and held by it
         under this Agreement to be maintained in safe custody and shall ensure
         that interests in the Temporary Global Note are only exchanged for
         interests in the Permanent Global Note or Definitive Notes, as the case
         may be, in accordance with the terms of the Temporary Global Note and
         this Agreement and that the Definitive Notes are issued only in
         accordance with the terms of the Permanent Global Note and this
         Agreement.

                                       3
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3.6      So long as any of the Notes is outstanding the Fiscal Agent shall,
         within seven days of any request by the Issuer, certify to the Issuer
         the number and principal amount of Notes held by it under this
         Agreement.

4.       PAYMENT TO THE FISCAL AGENT

4.1      The Issuer shall, not later than 10.00 a.m. (Central European time) on
         each date on which any payment of principal and/or interest in respect
         of any of the Notes becomes due and payable, transfer to an account
         specified by the Fiscal Agent such amount of euro as shall be
         sufficient for the purposes of the payment of principal and/or interest
         in immediately available funds or in such funds and at such times
         (being not later than 10.00 a.m. (Central European time) on the
         relevant due date) as may be determined by the Fiscal Agent to be
         customary for the settlement of similar transactions.

4.2      The Issuer shall ensure that, not later than 10.00 a.m. (London time)
         on the second Business Day immediately preceding the date on which any
         payment is to be made to the Fiscal Agent pursuant to subclause 4.1,
         that the bank effecting payment on its behalf confirms to the Fiscal
         Agent by tested telex or authenticated SWIFT message that it has issued
         irrevocable payment instructions for the transfer of the relevant sum
         due on that date to the account of the Fiscal Agent. For the purposes
         of this subclause 4.2, "Business Day" means a day on which banks are
         open for business in London and on which the TARGET System is open. The
         Fiscal Agent will forthwith notify the Issuer by telex if it has not by
         10.00 a.m. (London time) on the relevant Business Day received the
         confirmation and details referred to in this subclause and in the event
         that such failure is continuing at 3.00 p.m. (London time) on such day
         the Fiscal Agent will forthwith notify the other Paying Agents and the
         Issuer and in such event the Paying Agents shall not be bound to make
         payment in respect of the Notes until the Fiscal Agent notifies by
         telex each of the other Paying Agents that it has received
         unconditionally the full amount of any sum due in respect of the Notes.

5.       NOTIFICATION OF NON-PAYMENT BY THE ISSUER

         The Fiscal Agent shall notify by telex each of the other Paying Agents
         forthwith:

         (a)   if it has not by the specified time on the relevant date
               specified in clause 4.1 received unconditionally the full amount
               in euro required for the payment; and

         (b)   if it receives unconditionally the full amount of any sum due in
               respect of the Notes or Coupons after such date.

         Upon receipt of a notice from the Fiscal Agent as described in
         subparagraph (a) and until receipt of a notice from the Fiscal Agent as
         described in subparagraph (b), no Paying Agent shall be obliged to make
         any payment in respect of the Notes. The Fiscal Agent shall, at the
         expense of the Issuer, forthwith upon receipt of any amount as
         described in subparagraph (b), cause notice of that receipt to be
         published under Condition 15.

6.       DUTIES OF THE PAYING AGENTS

6.1      Subject to the payments to the Fiscal Agent provided for by clause 4.1
         being duly made and subject to clause 4.2, the Paying Agents shall act
         as paying agents of the Issuer in respect of the Notes and pay or cause
         to be paid on behalf of the Issuer, on and after each date on which any
         payment becomes due and payable, the amounts of principal and/or
         interest then payable on

                                       4
<PAGE>

         surrender or, in the case of a Global Note, endorsement, of Notes or
         Coupons under the Conditions and this Agreement. If any payment
         provided for by clause 4 is made late but otherwise under the terms of
         this Agreement, the Paying Agents shall nevertheless act as paying
         agents.

6.2      If default is made by the Issuer in respect of any payment, unless and
         until the full amount of the payment has been made under the terms of
         this Agreement (except as to the time of making the same) or other
         arrangements satisfactory to the Fiscal Agent have been made, neither
         the Fiscal Agent nor any of the other Paying Agents shall be bound to
         act as paying agents.

6.3      If on presentation of a Note or Coupon the amount payable in respect of
         the Note or Coupon is not paid in full (otherwise than as a result of
         the circumstances provided in Condition 7(b) or Condition 9) the Paying
         Agent to whom the Note or Coupon is presented shall procure that the
         Note or Coupon is enfaced with a memorandum of the amount paid and the
         date of payment.

6.4      If the Fiscal Agent pays any amounts to Noteholders or to the other
         Paying Agents at a time when it has not received payment in full in
         respect of such Note the Issuer shall, in addition to paying amounts
         due under clause 4.1, pay to the Fiscal Agent on demand interest at a
         rate reasonably determined by the Fiscal Agent to represent its cost of
         funding until receipt in full by the Fiscal Agent of the funds.

7.       REIMBURSEMENT OF THE PAYING AGENTS

         The Fiscal Agent shall charge the account referred to in clause 4 for
         all payments made by it under this Agreement and will credit or
         transfer to the respective accounts of the other Paying Agents the
         amount of all payments made by them under the Conditions immediately
         upon notification from them, subject in each case to any applicable
         laws or regulations.

8.       NOTICE OF ANY WITHHOLDING OR DEDUCTION

         If the Issuer is, in respect of any payment in respect of the Notes,
         compelled to withhold or deduct any amount as contemplated by Condition
         7(b) or Condition 9, the Issuer shall give notice to the Fiscal Agent
         as soon as reasonably practicable after it becomes aware of the
         requirement to make the withholding or deduction and shall give to the
         Fiscal Agent such information as the Fiscal Agent shall require to
         enable it to comply with the requirement.

9.       DUTIES OF THE FISCAL AGENT IN CONNECTION WITH REDEMPTION FOR TAXATION
         REASONS

         If the Issuer decides to redeem all the Notes for the time being
         outstanding under Condition 7(b) it shall give notice of the decision
         to the Fiscal Agent at least 15 days before the date on which notice is
         to be given to the Noteholders as required by Condition 15 and shall
         deliver the certificate and opinion referred to in Condition 7.

10.      RECEIPT AND PUBLICATION OF NOTICES

10.1     Forthwith upon the receipt by the Fiscal Agent of a demand or notice
         from any Noteholder under Condition 10, the Fiscal Agent shall forward
         a copy of the demand or notice to the Issuer.

10.2     On behalf of and at the request and expense of the Issuer, the Fiscal
         Agent shall cause to be published all notices required to be given by
         the Issuer under the Conditions.

                                       5
<PAGE>

11.      CANCELLATION OF NOTES AND COUPONS

11.1     All Notes which are surrendered in connection with redemption,
         (together with all unmatured Coupons attached to or delivered with
         Notes) and all Coupons which are paid shall be cancelled by the Paying
         Agent to which they are surrendered. Each of the Paying Agents shall
         give to the Fiscal Agent details of all payments made by it and shall
         deliver all cancelled Notes and Coupons to the Fiscal Agent (or as the
         Fiscal Agent may specify). Where Notes are purchased by or on behalf of
         the Issuer, the Issuer may ensure that the Notes (together with all
         unmatured Coupons appertaining to the Notes) are promptly cancelled and
         delivered to any Paying Agent.

11.2     Paying Agents shall (unless otherwise instructed by the Issuer in
         writing and save as provided in clause 13.1) destroy all cancelled
         Notes and Coupons and furnish the Issuer with a certificate of
         destruction containing written particulars of the serial numbers of the
         Notes and the number by maturity date of Coupons so destroyed.

12.      ISSUE OF REPLACEMENT NOTES AND COUPONS

12.1     The Issuer shall cause a sufficient quantity of additional forms of
         Notes and Coupons to be available, upon request, to the Fiscal Agent at
         its specified office for the purpose of issuing replacement Notes or
         Coupons as provided below.

12.2     The Fiscal Agent shall, subject to and in accordance with Condition 12
         and the following provisions of this clause, cause to be authenticated
         (in the case only of replacement Notes) and delivered any replacement
         Notes or Coupons which the Issuer may determine to issue in place of
         Notes or Coupons which have been lost, stolen, mutilated, defaced or
         destroyed.

12.3     In the case of a mutilated or defaced Definitive Note, the Fiscal Agent
         shall ensure that (unless otherwise covered by such indemnity as the
         Issuer may require) any replacement Definitive Note only has attached
         to it Coupons corresponding to those attached to the mutilated or
         defaced Definitive Note which is presented for replacement.

12.4     The Fiscal Agent shall endeavour to obtain verification, in the case of
         an allegedly lost, stolen or destroyed Note or Coupon in respect of
         which the serial number is known, that the Note or Coupon has not
         previously been redeemed or paid. The Fiscal Agent shall not issue a
         replacement Note or Coupon unless and until the applicant has:

         (a)   paid such costs as may be incurred in connection with the
               replacement;

         (b)   furnished it with such evidence and indemnity or otherwise as the
               Issuer and the Fiscal Agent may reasonably require; and

         (c)   in the case of a mutilated or defaced Note or Coupon, surrendered
               it to the Fiscal Agent.

12.5     The Fiscal Agent shall cancel mutilated or defaced Notes or Coupons in
         respect of which replacement Notes or Coupons have been issued pursuant
         to this clause. The Fiscal Agent shall furnish the Issuer with a
         certificate stating the serial numbers of the Notes or Coupons received
         by it and cancelled pursuant to this clause and shall, unless otherwise
         requested by the Issuer, destroy all those Notes and Coupons and
         furnish the Issuer with a destruction certificate containing the
         information specified in clause 11.2.

                                       6
<PAGE>

12.6     The Fiscal Agent shall, on issuing any replacement Note or Coupon,
         forthwith inform the Issuer and the other Paying Agents of the serial
         number of the replacement Note or Coupon issued and (if known) of the
         serial number of the Note or Coupon in place of which the replacement
         Note or Coupon has been issued. Whenever replacement Coupons are issued
         under this clause, the Fiscal Agent shall also notify the other Paying
         Agents of the maturity dates of the lost, stolen, mutilated, defaced or
         destroyed Coupons and of the replacement Coupons issued.

12.7     Whenever a Note or Coupon for which a replacement Note or Coupon has
         been issued and the serial number of which is known is presented to a
         Paying Agent for payment, the relevant Paying Agent shall immediately
         send notice to the Issuer and the Fiscal Agent.

13.      RECORDS AND CERTIFICATES

13.1     The Fiscal Agent shall (a) keep a full and complete record of all Notes
         and Coupons (other than serial numbers of Coupons) and of their
         redemption and/or purchase by or on behalf of the Issuer (other than
         purchases in the open market or by tender or by private agreement),
         cancellation or payment (as the case may be) and of all replacement
         Notes or Coupons issued in substitution for lost, stolen, mutilated,
         defaced or destroyed Notes or Coupons and (b) in respect of the Coupons
         of each maturity, retain until the expiry of five years from the
         Relevant Date in respect of the Coupons a list of the total numbers of
         Coupons of that maturity still remaining unpaid. The Fiscal Agent shall
         at all reasonable times make the records and Coupons (if any) available
         to the Issuer.

13.2     The Fiscal Agent shall give to the Issuer, as soon as possible and in
         any event within four months after the date of redemption, purchase,
         payment or replacement of a Note or Coupon (as the case may be), a
         certificate stating (a) the aggregate principal amount of Notes which
         have been redeemed and the aggregate amount in respect of Coupons which
         have been paid, (b) the serial numbers of those Notes in definitive
         form, (c) the total number of each denomination by maturity date of
         those Coupons, (d) the aggregate principal amounts of Notes (if any)
         which have been purchased by or on behalf of the Issuer and cancelled
         (subject to delivery of the Notes to the Fiscal Agent) and the serial
         numbers of such Notes in definitive form and the total number of each
         denomination by maturity date of the Coupons attached to or surrendered
         with the purchased Notes, (e) the aggregate principal amount of Notes
         and the aggregate amounts in respect of Coupons which have been
         surrendered and replaced and the serial numbers of those Notes in
         definitive form and the total number of each denomination by maturity
         date of the Coupons surrendered therewith and (f) the total number of
         each denomination by maturity date of unmatured Coupons missing from
         Notes which have been redeemed or surrendered and replaced and the
         serial numbers of the Notes in definitive form to which the missing
         unmatured Coupons appertained.

14.      COPIES OF THIS AGREEMENT AVAILABLE FOR INSPECTION

         The Paying Agents shall hold copies of this Agreement available for
         inspection by Noteholders and Couponholders. For this purpose, the
         Issuer shall furnish the Paying Agents with sufficient copies of such
         document.

15.      COMMISSIONS AND EXPENSES

15.1     The Issuer shall pay to the Fiscal Agent such commissions in respect of
         the services of the Paying Agents under this Agreement as shall be
         agreed between the Issuer and the Fiscal Agent. The Issuer shall not be
         concerned with the apportionment of payment among the Paying Agents.

                                       7
<PAGE>

15.2     The Issuer shall also pay to the Fiscal Agent an amount equal to any
         value added tax which may be payable in respect of the commissions
         together with all reasonable documented expenses including, without
         limitation, legal, advertising, cable and postage expenses, insurance
         costs and publication expenses incurred by the Paying Agents in
         connection with their services under this Agreement.

15.3     The Fiscal Agent shall arrange for payment of the commissions due to
         the other Paying Agents and arrange for the reimbursement of their
         reasonable documented expenses promptly after receipt of the relevant
         moneys from the Issuer.

16.      INDEMNITY

16.1     The Issuer undertakes to indemnify each of the Paying Agents and their
         directors, officers, employees and controlling persons against all
         losses, liabilities, costs, claims, actions, damages, expenses or
         demands which any of them may incur or which may be made against any of
         them as a result of or in connection with the appointment of or the
         exercise of the powers and duties by any Paying Agent under this
         Agreement except as may result from its wilful default, negligence or
         bad faith or that of its directors, officers, employees or controlling
         persons or any of them, or breach by it of the terms of this Agreement.

16.2     Each of the Paying Agents severally undertakes to indemnify the Issuer
         and the Issuer's directors, officers, employees and controlling persons
         against all losses, liabilities, costs, claims, actions, damages,
         expenses or demands which any of them may incur or which may be made
         against any of them as a result of its wilful default, negligence or
         bad faith or that of its directors, officers, employees or controlling
         persons or any of them, or breach by it of the terms of this Agreement.

16.3     This clause shall survive the termination or expiry of this Agreement.

17.      REPAYMENT BY FISCAL AGENT

         Sums paid by or by arrangement with the Issuer to the Fiscal Agent
         pursuant to the terms of this Agreement shall not be required to be
         repaid to the Issuer unless and until any Note or Coupon becomes void
         under the provisions of Condition 11 but in that event the Fiscal Agent
         shall forthwith repay to the Issuer sums equivalent to the amounts
         which would otherwise have been payable in respect of the relevant Note
         or Coupon.

18.      CONDITIONS OF APPOINTMENT

18.1     Subject as provided in subclause 18.3 of this clause the Fiscal Agent
         shall he entitled to deal with money paid to it by the Issuer for the
         purposes of this Agreement in the same manner as other money paid to a
         banker by its customers and shall not be liable to account to the
         Issuer for any interest or other amounts in respect of the money. No
         money held by any Paying Agent need be segregated except as required by
         law.

18.2     In acting under this Agreement and in connection with the Notes and the
         Coupons the Paying Agents shall act solely as agents of the Issuer and
         will not assume any obligation towards or relationship of agency or
         trust for or with any of the owners or holders of the Notes or the
         Coupons.

18.3     No Paying Agent shall exercise any right of set-off or lien against the
         Issuer or any holders of Notes or Coupons in respect of any moneys
         payable to or by it under the terms of this Agreement.

                                       8
<PAGE>

18.4     Except as ordered by a court of competent jurisdiction or required by
         law or otherwise instructed by the Issuer, each of the Paying Agents
         shall be entitled to treat the holder of any Note or Coupon as the
         absolute owner thereof (whether or not the Note or Coupon shall be
         overdue and notwithstanding any notice of ownership or writing thereon,
         any notice of previous loss or theft thereof, or any notice of any
         trust or other interest therein) for the purpose of making payment and
         for all other purposes and shall not be required to obtain any proof
         thereof or as to the identity of such holder.

18.5     The Paying Agents shall be obliged to perform such duties and only such
         duties as are set out in this Agreement and the Notes and no implied
         duties or obligations shall be read into this Agreement or the Notes
         against the Paying Agents.

18.6     The Fiscal Agent may consult with legal and other professional advisers
         and the opinion of the advisers shall be full and complete protection
         in respect of action taken, omitted or suffered under this Agreement in
         good faith and in accordance with the opinion of the advisers. The
         Issuer agrees to reimburse the Fiscal Agent for all reasonable expenses
         incurred in consultation with such legal or other professional
         advisers.

18.7     Each of the Paying Agents shall be protected and shall incur no
         liability for or in respect of action taken, omitted or suffered in
         good faith in reliance upon any instruction, request or order from the
         Issuer or any other Paying Agent, or any Note or Coupon, or any notice,
         resolution, direction, consent, certificate, affidavit, statement,
         facsimile, telex or other paper or document which it reasonably
         believes to be genuine and to have been delivered, signed or sent by
         the proper party or parties or upon written instructions from the
         Issuer.

18.8     Any of the Paying Agents, their officers, directors, employees or
         controlling persons, may become the owner of, or acquire any interest
         in, Notes or Coupons with the same rights that it or he would have if
         the Paying Agent concerned were not appointed under this Agreement, and
         may engage or be interested in any financial or other transaction with
         the Issuer, and may act on, or as depository, trustee or agent for, any
         committee or body of holders of Notes or Coupons or other obligations
         of the Issuer, as freely as if the Paying Agent concerned were not
         appointed under this Agreement and without accounting for any profit.

18.9     The Fiscal Agent shall not be under any obligation to take any action
         under this Agreement which it expects will result in any expense or
         liability accruing to it, the payment of which within a reasonable time
         is not, in its opinion, assured to it.

19.      COMMUNICATION WITH PAYING AGENTS

         A copy of all communications relating to the subject matter of this
         Agreement between the Issuer and any of the Paying Agents other than
         the Fiscal Agent shall be sent to the Fiscal Agent.

20.      TERMINATION OF APPOINTMENT

20.1     The Issuer may terminate the appointment of any Paying Agent at any
         time and/or appoint additional or other Paying Agents by giving to the
         Paying Agent whose appointment is concerned and, where appropriate, the
         Fiscal Agent, at least 90 days' prior written notice to that effect,
         provided that, so long as any of the Notes is outstanding:

         (a)   in the case of a Paying Agent, the notice shall not expire less
               than 45 days before any due date for the payment of interest; and

                                       9
<PAGE>

         (b)   notice shall be given under Condition 15 not less than 30 days,
               nor more than 45 days, before the removal or appointment of a
               Paying Agent.

20.2     Notwithstanding the provisions of subclause 20.1, if at any time a
         Paying Agent becomes incapable of acting, or is adjudged bankrupt or
         insolvent, or files a voluntary petition in bankruptcy or makes an
         assignment for the benefit of its creditors or consents to the
         appointment of an administrator, liquidator or administrative or other
         receiver of all or any substantial part of its property, or if an
         administrator, liquidator or administrative or other receiver of it or
         of all or a substantial part of its property is appointed, or it admits
         in writing its inability to pay or meet its debts as they may mature or
         suspends payment of its debts, or if an order of any court is entered
         approving any petition filed by or against it under the provisions of
         any applicable bankruptcy or insolvency law or if a public officer
         takes charge or control of the Paying Agent or of its property or
         affairs for the purpose of rehabilitation, administration or
         liquidation, the Issuer may forthwith without notice terminate the
         appointment of the Paying Agent, in which event notice shall be given
         to the Noteholders under Condition 15 as soon as is practicable.

20.3     The termination of the appointment of a Paying Agent under this
         Agreement shall not entitle the Paying Agent to any amount by way of
         compensation but shall be without prejudice to any amount then accrued
         due.

20.4     All or any of the Paying Agents may resign their respective
         appointments under this Agreement at any time by giving to the Issuer
         and, where appropriate, the Fiscal Agent at least 90 days' prior
         written notice to that effect provided that, so long as any of the
         Notes is outstanding, the notice shall not expire less than 45 days
         before any due date for the payment of interest. Following receipt of a
         notice of resignation from a Paying Agent, the Issuer shall promptly,
         and in any event not less than 30 days before the resignation takes
         effect, give notice to the Noteholders (through the Fiscal Agent) under
         Condition 15. If any Paying Agent shall resign or be removed pursuant
         to subclauses 20.1 or 20.2 above or in accordance with this subclause
         20.4, the Issuer shall promptly and in any event within 30 days appoint
         a successor. If the Issuer fails to appoint a successor within such
         period, the relevant Paying Agent may select a leading bank (which, in
         the case of the Fiscal Agent, shall be a leading bank acting through
         its office in London) to act as Paying Agent hereunder and the Issuer
         shall appoint that bank as the successor Paying Agent.

20.5     Notwithstanding the provisions of subclauses 20.1, 20.2 and 20.4, so
         long as any of the Notes is outstanding, the termination of the
         appointment of a Paying Agent (whether by the Issuer or by the
         resignation of the Paying Agent) shall not be effective unless upon the
         expiry of the relevant notice there is:

         (a)   a Fiscal Agent; and

         (b)   at least one Paying Agent having a specified office in a city in
               western Europe which, so long as the Notes are listed on the
               Luxembourg Stock Exchange, will be in Luxembourg.

20.6     Any successor Paying Agent shall execute and deliver to its
         predecessor, the Issuer, and, where appropriate, the Fiscal Agent an
         instrument accepting the appointment under this Agreement, and the
         successor Paying Agent, without any further act, deed or conveyance,
         shall become vested with all the authority, rights, powers, trusts,
         immunities, duties and obligations of the predecessor with like effect
         as if originally named as a Paying Agent.

20.7     If the appointment of a Paying Agent under this Agreement is terminated
         (whether by the Issuer or by the resignation of the Paying Agent), the
         Paying Agent shall on the date on which the

                                       10
<PAGE>

         termination takes effect deliver to its successor Paying Agent (or, if
         none, the Fiscal Agent) all Notes and Coupons surrendered to it but not
         yet destroyed and all records concerning the Notes and Coupons
         maintained by it (except such documents and records as it is obliged by
         law or regulation to retain or not to release) and pay to its successor
         Paying Agent (or, if none, to the Fiscal Agent) the amounts (if any)
         held by it in respect of Notes or Coupons which have become due and
         payable but which have not been presented for payment, but shall have
         no other duties or responsibilities under this Agreement.

20.8     If the Fiscal Agent or any of the other Paying Agents shall change its
         specified office, it shall give to the Issuer and, where appropriate,
         the Fiscal Agent not less than 45 days' prior written notice to that
         effect giving the address of the new specified office. As soon as
         practicable thereafter and in any event at least 30 days before the
         change, the Fiscal Agent shall give to the Noteholders on behalf of and
         at the expense of the Issuer notice of the change and the address of
         the new specified office under Condition 15.

20.9     A corporation into which any Paying Agent for the time being may be
         merged or converted or a corporation with which the Paying Agent may be
         consolidated or a corporation resulting from a merger, conversion or
         consolidation to which the Paying Agent shall be a party shall, to the
         extent permitted by applicable law, be the successor Paying Agent under
         this Agreement without the execution or filing of any paper or any
         further act on the part of any of the parties to this Agreement. Notice
         of any merger, conversion or consolidation shall forthwith be given to
         the Issuer and, where appropriate, the Fiscal Agent.

21.      MEETINGS OF NOTEHOLDERS

21.1     The provisions of Schedule 3 shall apply to meetings of the Noteholders
         and shall have effect in the same manner as if set out in this
         Agreement provided that, so long as any of the Notes are represented by
         a Global Note, the expression "Noteholders" shall include the persons
         for the time being shown in the records of Morgan Guaranty Trust
         Company of New York, Brussels office, as operator of the Euroclear
         System ("Euroclear") and/or Clearstream Banking, societe anonyme,
         Luxembourg ("Clearstream, Luxembourg"), as the holders of a particular
         principal amount of such Notes (each an "Accountholder") (in which
         regard a certificate or other document issued by Euroclear or
         Clearstream, Luxembourg as to the principal amount of such Notes
         standing to the account of any person shall be conclusive and binding)
         for all purposes other than with respect to the payment of principal
         and interest on such Notes, the right to which shall be vested as
         against the Issuer solely in the bearer of each Global Note in
         accordance with and subject to its terms, and the expressions "holder"
         and "holders" shall be construed accordingly and in connection with the
         meetings of Noteholders the expression "Notes" shall mean units of .
         (Euro)1,000 principal amount of Notes.

21.2     Without prejudice to subclause 21.1, each of the Paying Agents shall,
         on the request of any holder of Notes, issue Voting Certificates and
         Block Voting Instructions (as defined in paragraph 1 of Schedule 3)
         together, if so required by the Issuer, with reasonable proof
         satisfactory to the Issuer of their due execution on behalf of the
         Paying Agent under the provisions of Schedule 3 and shall forthwith
         give notice to the Issuer under Schedule 3 of any revocation or
         amendment of a Voting Certificate or Block Voting Instruction. Each
         Paying Agent shall keep a full and complete record of all Voting
         Certificates and Block Voting Instructions issued by it and shall, not
         less than 24 hours before the time appointed for holding any meeting or
         adjourned meeting, deposit at such place as the Fiscal Agent shall
         designate or approve, full particulars of all Voting Certificates and
         Block Voting Instructions issued by it in respect of any meeting or
         adjourned meeting.

                                       11
<PAGE>

22.      NOTICES

         Any notice required to be given under this Agreement to any of the
         parties shall be delivered in person, sent by pre-paid post (first
         class if inland, first class airmail if overseas) or by facsimile or
         telex addressed to:

<TABLE>
<S>                                <C>                                               <C>
         The Issuer:               Danaher Corporation
                                   1250 24th Street, N.W.
                                   Washington, D.C. 20037
                                   Telex No: 202-828-0850
                                   Facsimile No: 202-828-0860
                                   (Attention: Patrick Allender)

         The Fiscal Agent:         Deutsche Bank AG London
                                   Winchester House
                                   1 Great Winchester Street
                                   London EC2N 2DB
                                   Telex No:  883341 BANT
                                   Facsimile No: (0207)5476149
                                   (Attention:  Corporate Trust and Agency
                                                Services)

         The Paying Agents:

                                   Deutsche Bank Luxembourg S.A.                     UBS AG
                                   2 Boulevard Konrad Adenauer                       Bahnhofstrasse 45
                                   L-1115 Luxembourg                                 CH-8098 Zurich
                                                                                     Switzerland

                                   Telex No: 3392 BTLLU
                                   Facsimile No: 00 352 473 136                      Telex No: 8128581 BVZCH
                                   (Attention: Coupon Paying Department)             Facsimile No: 00 411 236 5333
                                                                                     (Attention:WS-Coupons)
</TABLE>

         or such other address of which notice in writing has been given to the
         other parties to this Agreement under the provisions of this clause.

         Any notice shall take effect on receipt, provided that if sent by telex
         it shall be deemed to be received if and when the addressee's
         answerback shall have been received at the end of transmission, and
         provided further that any notice, request, demand or other
         communication received on a non-working day or after business hours in
         the place of receipt shall be deemed to be received on the next
         following working day in such place.

23.      TAXES

         The Issuer agrees to pay any and all stamp and other documentary taxes
         or duties which shall be payable in connection with the execution,
         delivery, performance and enforcement of this Agreement (except any
         stamp and other documentary taxes or duties resulting from the
         enforcement of this Agreement which are payable pursuant to clause
         16.2).

                                       12
<PAGE>

24.      COUNTERPARTS

         This Agreement may be executed in any number of counterparts and by the
         parties hereto in separate counterparts, each of which when so executed
         shall be deemed an original and all of which taken together shall
         constitute one and the same agreement.

25.      DESCRIPTIVE HEADINGS

         The descriptive headings in this Agreement are for convenience of
         reference only and shall not define or limit the provisions of this
         Agreement.

26.      GOVERNING LAW AND SUBMISSION TO JURISDICTION

26.1     The provisions of this Agreement are governed by, and shall be
         construed in accordance with, the laws of the State of New York.

26.2     The Issuer agrees that any State or federal courts sitting in the
         Borough of Manhattan, The City of New York, shall have jurisdiction to
         settle any disputes which may arise out of or in connection with this
         Agreement and accordingly any legal action or proceedings arising out
         of or in connection with the Notes or the Coupons (the "Proceedings")
         may be brought in such courts. The Issuer irrevocably submits to the
         jurisdiction of such courts and waives any objection which it may now
         or hereafter have to Proceedings in any such courts whether on the
         ground of the laying of venue or on the ground that the Proceedings
         have been brought in an inconvenient forum. This submission is made for
         the exclusive benefit of each of the Paying Agents and shall not limit
         the right of any of them to take Proceedings in any other court of
         competent jurisdiction nor shall the taking of Proceedings in one or
         more jurisdictions preclude the taking of Proceedings in any other
         jurisdiction (whether concurrently or not).

         To the extent that the Issuer has or hereafter may acquire any immunity
         from jurisdiction of any court or from any legal process with respect
         to itself or its property, the Issuer irrevocably waives such immunity
         in respect of its obligations under this Agreement.

27.      AMENDMENTS

         This Agreement may be amended by all of the parties, without the
         consent of any Noteholder or Couponholder, either:

         (a)   for the purpose of curing any ambiguity or of curing, correcting
               or supplementing any defective provision contained in this
               Agreement; or

         (b)   in any manner which the parties may mutually deem necessary or
               desirable and which shall not be inconsistent with the Conditions
               and shall not be materially prejudicial to the interests of the
               Noteholders.

         SIGNED by each of the parties (or their duly authorized
         representatives) as of the date first above written.

                                       13
<PAGE>

                                  SCHEDULE 1

                                    PART 1

                         FORM OF TEMPORARY GLOBAL NOTE

                              DANAHER CORPORATION
            (incorporated under the laws of the State of Delaware)

                             TEMPORARY GLOBAL NOTE

                               (Euro)300,000,000

                         6 1/4 percent Notes due 2005

This temporary Global Note is issued in respect of the 6 1/4 percent Notes due
2005 (the "Notes") of Danaher Corporation (the "Issuer"). The Notes are issued
subject to and with the benefit of a Fiscal Agency Agreement (the "Fiscal Agency
Agreement") dated July 25, 2000 between, inter alios, the Issuer and Deutsche
Bank AG London as Fiscal Agent (the "Fiscal Agent). The Notes are issued subject
to and with the benefit of the Terms and Conditions of the Notes (the
"Conditions") set out in Part 2 of Schedule 2 to the Fiscal Agency Agreement.

    1.   Promise To Pay

         Subject as provided in this temporary Global Note, the Issuer, for
         value received, promises to pay the bearer upon presentation and
         surrender of this temporary Global Note the sum of (Euro)300,000,000 or
         such lesser sum as is shown by the latest entry in Part I or Part II of
         the Schedule to this temporary Global Note on July 26, 2005 or on such
         earlier date as the principal of this temporary Global Note may become
         due under the Conditions and to pay interest on the principal sum for
         the time being outstanding at the rate of 6 1/4 percent per annum from
         July 26, 2000 payable annually in arrears on July 26 in each year until
         payment of the principal sum has been made or duly provided for in full
         together with any other amounts as may be payable, all subject to and
         under the Conditions.

    2.   Exchange For Permanent Global Note And Cancellations

         The permanent Global Note to be issued on exchange for interests in
         this temporary Global Note will be substantially in the form set out in
         Part 2 of Schedule 1 to the Fiscal Agency Agreement.

         Subject as provided below, the permanent Global Note will only have an
         entry made to represent Definitive Notes after the date which is 90
         days after the closing date for the Notes.

         Interests in this temporary Global Note may be exchanged for interests
         in a duly executed and authenticated permanent Global Note without
         charge and the Fiscal Agent or such other person as the Fiscal Agent
         may direct (the "Exchange Agent") shall make the appropriate entry on
         Part I of the Schedule to the permanent Global Note in full or partial
         exchange for this temporary Global Note, in order that the permanent
         Global Note represents an aggregate principal amount of Notes equal to
         the principal amount of this temporary Global Note submitted for
         exchange. Notwithstanding the foregoing, no such entry shall be made on
         the permanent Global Note unless there shall have been presented to the
         Exchange Agent a certificate from Morgan Guaranty Trust

                                       14
<PAGE>

         Company of New York, Brussels office, as operator of the Euroclear
         System ("Euroclear") or Clearstream Banking, societe anonyme,
         Luxembourg ("Clearstream, Luxembourg") substantially in the form of the
         certificate attached as Exhibit A.

         Notwithstanding the foregoing, where this temporary Global Note has
         been exchanged in part for the permanent Global Note pursuant to the
         foregoing and Definitive Notes have been issued in exchange for the
         total amount of Notes represented by the permanent Global Note pursuant
         to its terms, then interests in this temporary Global Note will no
         longer be exchangeable for interests in the permanent Global Note but
         will be exchangeable, in full or partial exchange, for duly executed
         and authenticated Definitive Notes, without charge, in the
         denominations of 1,000, 10,000 and 100,000 each with interest coupons
         attached, such Definitive Notes to be substantially in the form set out
         in Part 1 of Schedule 2 to the Fiscal Agency Agreement. Notwithstanding
         the foregoing, Definitive Notes shall not be so issued and delivered
         unless there shall have been presented to the Exchange Agent a
         certificate from Euroclear or Clearstream, Luxembourg substantially in
         the form of the certificate attached as Exhibit A.

         Any person who would, but for the provisions of this temporary Global
         Note and of the Fiscal Agency Agreement, otherwise be entitled to
         receive either (i) an interest in the permanent Global Note or (ii)
         Definitive Notes shall not be entitled to require the exchange of an
         appropriate part of this temporary Global Note for an interest in the
         permanent Global Note or Definitive Notes unless and until he shall
         have delivered or caused to be delivered to Euroclear or Clearstream,
         Luxembourg a certificate in substantially the form of the certificate
         attached as Exhibit B (copies of which form of certificate will be
         available at the offices of Euroclear in Brussels and Clearstream,
         Luxembourg in Luxembourg and the specified offices of each Paying Agent
         named in the Fiscal Agency Agreement).

         Upon (a) any exchange of the whole or a part of this temporary Global
         Note for an interest in the permanent Global Note or for a Definitive
         Note or (b) receipt of instructions from Euroclear or Clearstream,
         Luxembourg that, following the purchase by or on behalf of the Issuer
         of the whole or a part of this temporary Global Note, part is to be
         cancelled, the portion of the principal amount of this temporary Global
         Note so exchanged or cancelled shall be entered by or on behalf of the
         Fiscal Agent on Part I of the Schedule to this temporary Global Note,
         whereupon the principal amount of this temporary Global Note shall be
         reduced for all purposes by the amount so exchanged or cancelled and
         entered.

    3.   Benefits

         Until the entire principal amount of this temporary Global Note has
         been extinguished in exchange for the permanent Global Note and/or
         Definitive Notes, this temporary Global Note shall in all respects be
         entitled to the same benefits as the Definitive Notes referred to
         above, except that the holder of this temporary Global Note shall only
         be entitled to receive any payment on this temporary Global Note on
         presentation of certificates as provided below.

    4.   Payments

         Payments due in respect of Notes for the time being represented by this
         temporary Global Note shall be made to the bearer of this temporary
         Global Note only upon presentation by Euroclear or, as the case may be,
         Clearstream, Luxembourg, to the Fiscal Agent at its specified office of
         a certificate, substantially in the form of the certificate attached as
         Exhibit A, to the effect that Euroclear, or as the case may be,
         Clearstream, Luxembourg, has received a certificate substantially in
         the form of the certificate attached as Exhibit B.

                                       15
<PAGE>

         Upon any payment in respect of the Notes represented by this temporary
         Global Note, the amount so paid shall be endorsed by or on behalf of
         the Fiscal Agent on Part II of the Schedule to this temporary Global
         Note, which endorsement shall, in the absence of manifest error, be
         prima facie evidence that such payment has been made in respect of the
         Notes. In the case of any payment of principal the principal amount of
         this temporary Global Note shall be reduced for all purposes by the
         amount so paid and the remaining principal amount of this temporary
         Global Note shall be entered by or on behalf of the Fiscal Agent on
         Part II of the Schedule to this temporary Global Note.

         On and after October 24, 2000, no payment will be made on this
         temporary Global Note unless exchange for an interest in the permanent
         Global Note is improperly withheld or refused.

    5.   Accountholders

         For so long as any of the Notes is represented by this temporary Global
         Note and this temporary Global Note is held on behalf of Euroclear
         and/or Clearstream, Luxembourg, each person who is for the time being
         shown in the records of Euroclear and/or Clearstream, Luxembourg as the
         holder of a particular principal amount of such Notes (each an
         "Accountholder") (in which regard any certificate or other document
         issued by Euroclear or Clearstream, Luxembourg as to the principal
         amount of such Notes standing to the account of any such person shall
         be conclusive and binding for all purposes) shall be treated as the
         holder of that principal amount of such Notes for all purposes
         (including for the purposes of any quorum requirements of, or the right
         to demand a poll at, meetings of the Noteholders) other than with
         respect to the payment of principal and interest on such Notes, the
         right to which shall be vested, as against the Issuer and the Paying
         Agents, solely in the bearer of this temporary Global Note in
         accordance with and subject to its terms. Each Accountholder must look
         solely to Euroclear or Clearstream, Luxembourg, as the case may be, for
         its share of each payment made to the bearer of this temporary Global
         Note.

         Notes represented by this temporary Global Note are transferable in
         accordance with the rules and procedures for the time being of
         Euroclear or Clearstream, Luxembourg as appropriate.

         The Issuer covenants in favour of each Accountholder that it will make
         all payments in respect of the Notes, for the time being shown in the
         records of Euroclear and/or Clearstream, Luxembourg as being held by
         the Accountholder and represented by this temporary Global Note to the
         bearer of this temporary Global Note in accordance with clause 1 above
         and acknowledges that each Accountholder may take proceedings to
         enforce this covenant and any of the other rights which it has under
         the first paragraph of this clause directly against the Issuer.

    6.   Notices

         Notices to be given by the Issuer will be given at least once by
         publication in a daily newspaper in the English language with general
         circulation in London, England, and, so long as the Notes are listed on
         the Luxembourg Stock Exchange and the rules of the Luxembourg Stock
         Exchange so require, in a daily newspaper of general circulation in
         Luxembourg. If publication in London or Luxembourg is impractical,
         notices shall be published by such means as will, so far as may be
         reasonably practicable, approximate publication in such newspaper.
         Publication is expected to be made in the Luxemburger Wort in
         Luxembourg and the Financial Times in London. Such notices will be
         deemed to have been given on the date of such publication or, if
         published more than once, on the date of the first such publication.

                                       16
<PAGE>

         For so long as any of the Notes are represented by this temporary
         Global Note and/or the permanent Global Note and this temporary Global
         Note and/or the permanent Global Note is/are held on behalf of
         Euroclear and/or Clearstream, Luxembourg, notices may be given by
         delivery of the relevant notice to Euroclear and/or Clearstream,
         Luxembourg (as the case may be) for communication to the relative
         Accountholders rather than by publication as required in the preceding
         paragraph provided that, so long as the Notes are listed on the
         Luxembourg Stock Exchange, and the rules of that stock exchange so
         require, notices to Noteholders will be published in one daily
         newspaper in Luxembourg (which is expected to be the Luxemburger Wort).
         Any such notice shall be deemed to have been given to the Noteholders
         on the day after such notice is delivered to Euroclear and or
         Clearstream, Luxembourg (as the case may be) as aforesaid or the date
         of publication, whichever is earlier.

    7.   Prescription

         Claims against the Issuer in respect of principal and interest on the
         Notes represented by this temporary Global Note will be prescribed
         after 10 years (in the case of principal) and five years (in the case
         of interest) from the Relevant Date (as defined in Condition 4).

    8.   Cancellation

         Cancellation of any Note represented by this temporary Global Note will
         be effected by endorsement by or on behalf of the Fiscal Agent of the
         reduction in the principal amount of this temporary Global Note on Part
         I of the Schedule hereto.

    9.   Authentication

         This temporary Global Note shall not become valid or enforceable for
         any purpose unless and until it has been authenticated by or on behalf
         of the Fiscal Agent.

    10.  Governing Law

         This temporary Global Note is governed by, and shall be construed in
         accordance with, the laws of the State of New York.

                                       17
<PAGE>

IN WITNESS whereof the Issuer has caused this temporary Global Note to be duly
executed under its corporate seal to be affixed or imported hereon.

DANAHER CORPORATION

By:     __________________________________
Name:   __________________________________
Title:  __________________________________

Attest: __________________________________
Name:   __________________________________
Title:  __________________________________

Issued on July __, 2000

CERTIFICATE OF AUTHENTICATION

This is the temporary Global Note
described in the Fiscal Agency Agreement

By or on behalf of
Deutsche Bank AG London, as Fiscal Agent
(without recourse, warranty or liability)

By:     __________________________________
               Authorized Signatory

ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO
LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS INCLUDING THE LIMITATIONS
PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE

                                       18
<PAGE>

                   THE SCHEDULE TO THE TEMPORARY GLOBAL NOTE

                                    Part I

           EXCHANGES FOR THE PERMANENT GLOBAL NOTE/DEFINITIVE NOTES
                               AND CANCELLATIONS

The following exchanges of a part of this temporary Global Note for interests in
the permanent Global Note/Definitive Notes and cancellations of a part of the
aggregate principal amount of this temporary Global Note have been made:

<TABLE>
<CAPTION>
Date of exchange or       Part of the                Part of the            Remaining principal    Notation made by or
cancellation              aggregate principal        aggregate principal    amount of this         on behalf of the
                          amount of this             amount of this         temporary Global       Fiscal Agent
                          temporary Global           temporary Global       Note following
                          Note exchanged for         Note cancelled         exchange or
                          interests in the                                  cancellation
                          permanent Global
                          Note/Definitive Notes

                          (Euro)                     (Euro)                 (Euro)
<S>                       <C>                        <C>                    <C>                    <C>
_______________           _______________            _______________        _______________        _______________

_______________           _______________            _______________        _______________        _______________

_______________           _______________            _______________        _______________        _______________

_______________           _______________            _______________        _______________        _______________

_______________           _______________            _______________        _______________        _______________

_______________           _______________            _______________        _______________        _______________

_______________           _______________            _______________        _______________        _______________

_______________           _______________            _______________        _______________        _______________

_______________           _______________            _______________        _______________        _______________

_______________           _______________            _______________        _______________        _______________
</TABLE>

                                       19
<PAGE>

                                    Part II

                                   PAYMENTS

The following payments in respect of the Notes represented by this temporary
Global Note have been made:

<TABLE>
<CAPTION>
Date of payment           Amount of interest      Amount of principal     Remaining principal       Notation made by or
                          paid                    paid                    amount of this            on behalf of the
                                                                          temporary Global          Fiscal Agent
                                                                          Note following
                                                                          payment of principal

                          (Euro)                  (Euro)                  (Euro)
<S>                       <C>                     <C>                     <C>                       <C>
_______________           _______________         _______________         _______________           _______________

_______________           _______________         _______________         _______________           _______________

_______________           _______________         _______________         _______________           _______________

_______________           _______________         _______________         _______________           _______________

_______________           _______________         _______________         _______________           _______________

_______________           _______________         _______________         _______________           _______________

_______________           _______________         _______________         _______________           _______________

_______________           _______________         _______________         _______________           _______________

_______________           _______________         _______________         _______________           _______________

_______________           _______________         _______________         _______________           _______________

_______________           _______________         _______________         _______________           _______________

_______________           _______________         _______________         _______________           _______________
</TABLE>

                                       20
<PAGE>

                                   EXHIBIT A

                              DANAHER CORPORATION
            (incorporated under the laws of the State of Delaware)

                               (Euro)300,000,000

                         6 1/4 percent Notes due 2005

                              (the "Securities")

This is to certify that, based solely on certifications we have received in
writing, by tested telex or by electronic transmission from member organizations
appearing in our records as persons being entitled to a portion of the principal
amount set forth below (our "Member Organizations") (such certifications "Member
Certifications") substantially to the effect set forth in the Fiscal Agency
Agreement, as of the date hereof, (Euro)300,000,000 principal amount of the
above-captioned Securities (i) is owned by persons that are not citizens or
residents of the United States, domestic partnerships, domestic corporations or
any estate or trust the income of which is subject to United States federal
income taxation regardless of its source ("United States persons"), (ii) is
owned by United States persons that (a) are foreign branches of United States
financial institutions (as defined in U.S. Treasury Regulations Section
1.165-12(c)(1)(v)) ("financial institutions") purchasing for their own account
or for resale, or (b) acquired the Securities through foreign branches of United
States financial institutions and who hold the Securities through such United
States financial institutions on the date hereof (and in either case (a) or (b),
each such United States financial institution has agreed, on its own behalf or
through its agent, that we may advise the Issuer or the Issuer's agent that it
will comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the
Internal Revenue Code of 1986, as amended, and the regulations thereunder), or
(iii) is owned by United States or foreign financial institutions for purposes
of resale during the restricted period (as defined in U.S. Treasury Regulations
Section 1.163-5(c)(2)(i)(D)(7)), and to the further effect that United States or
foreign financial institutions described in clause (iii) above (whether or not
also described in clause (i) or (ii)) have certified that they have not acquired
the Securities for purposes of resale directly or indirectly to a United States
person or to a person within the United States or its possessions.

If the Securities are of the category contemplated in Section 230.903(c)(3) of
Regulation S under the Securities Act of 1933, as amended, then this is also to
certify with respect to such principal amount of Securities set forth above
that, except as set forth below, we have received in writing, by tested telex or
by electronic transmission, from our Member Organizations entitled to a portion
of such principal amount, certifications with respect to such portion,
substantially to the effect set forth in the Fiscal Agency Agreement.

We further certify (i) that we are not making available herewith for exchange
(or, if relevant, exercise of any rights or collection of any interest) any
portion of the temporary global Security excepted in such certifications, (ii)
that as of the date hereof we have not received any notification from any of our
Member Organizations to the effect that the statements made by such Member
Organizations with respect to any portion of the part submitted herewith for
exchange (or, if relevant, exercise of any rights or collection of any interest)
are no longer true and cannot be relied upon as of the date hereof and (iii)
that we shall retain the Member Certifications for a period of four calendar
years following the year such Member Certifications were obtained.

                                       21
<PAGE>

We understand that this certification is required in connection with certain tax
laws and, if applicable, certain securities laws of the United States. In
connection therewith, if administrative or legal proceedings are commenced or
threatened in connection with which this certification is or would he relevant,
we irrevocably authorize you to produce this certification to any interested
party in such proceedings.

*Dated

                                   [Morgan Guaranty Trust Company of New York,
                                   Brussels office, as operator of the
                                   Euroclear System] [Clearstream, Luxembourg]

                                   By ______________________________
                                           Authorized Signatory

__________________________
*  To be dated no earlier than the date to which this certification relates,
   namely (a) payment date or (b) the date set for the exchange of the temporary
   Global Note for an interest in the permanent Global Note.

                                       22
<PAGE>

                                   EXHIBIT B

                              DANAHER CORPORATION
            (incorporated under the laws of the State of Delaware)

                               (Euro)300,000,000

                         6 1/4 percent Notes due 2005

                              (the "Securities")

This is to certify that as of the date hereof, and except as set forth below,
the above-captioned Securities held by you for our account (i) are owned by
person(s) that are not citizens or residents of the United States, domestic
partnerships, domestic corporations or any estate or trust the income of which
is subject to United States federal income taxation regardless of its source
("United States person(s)"), (ii) are owned by United States person(s) that (a)
are foreign branches of United States financial institutions (as defined in U.S.
Treasury Regulations Section 1.165-12(c)(1)(v)) ("financial institutions")
purchasing for their own account or for resale, or (b) acquired the Securities
through foreign branches of United States financial institutions and who hold
the Securities through such United States financial institutions on the date
hereof (and in either case (a) or (b), each such United States financial
institution hereby agrees, on its own behalf or through its agent, that you may
advise the Issuer or the Issuer's agent that it will comply with the
requirements of Section 165(j)(3)(A), (B) or (C) of the Internal Revenue Code of
1986, as amended, and the regulations thereunder), or (iii) are owned by United
States or foreign financial institution(s) for purposes of resale during the
restricted period (as defined in U.S. Treasury Regulations Section
1.163-5(c)(2)(i)(D)(7)), and in addition if the owner of the Securities is a
United States or foreign financial institution described in clause (iii) above
(whether or not also described in clause (i) or (ii)) this is further to certify
that such financial institution has not acquired the Securities for the purposes
of resale directly or indirectly to a United States person or to a person within
the United States or its possessions.

If the Securities are of the category contemplated in Section 230.903(c)(3) of
Regulation S under the Securities Act of 1933, as amended (the "Act"), then this
is also to certify that, except as set forth below (i) in the case of debt
securities, the Securities are beneficially owned by (a) non-U.S. person(s) or
(b) U.S. person(s) who purchased the Securities in transactions which did not
require registration under the Act; or (ii) in the case of equity securities,
the Securities are owned by (x) non-U.S. person(s) (and such person(s) are not
acquiring the Securities for the account or benefit of U.S. person(s)) or (y)
U.S. person(s) who purchased the Securities in a transaction which did not
require registration under the Act. If this certification is being delivered in
connection with the exercise of warrants pursuant to Section 230.902(m) of
Regulation S under the Act, then this is further to certify that, except as set
forth below, the Securities are being exercised by and on behalf of non-U.S.
person(s). As used in this paragraph the term "U.S. person" has the meaning
given to it by Regulation S under the Act.

As used herein, "United States" means the United States of America (including
the States and the District of Columbia); and its "possessions" include Puerto
Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the
Northern Mariana Islands.

We undertake to advise you promptly by tested telex on or prior to the date on
which you intend to submit your certification relating to the Securities held by
you for our account in accordance with your documented procedures if any
applicable statement herein is not correct on such date, and in the absence of
any such notification it may be assumed that this certification applies as of
such date.

                                       23
<PAGE>

This certification excepts and does not relate to (Euro) [          ] of such
interest in the above Securities in respect of which we are not able to certify
and as to which we understand exchange and delivery of definitive Securities
(or, if relevant, exercise of any rights or collection of any interest) cannot
be made until we do so certify.

We understand that this certification is required in connection with certain tax
laws and, if applicable, certain securities laws of the United States. In
connection therewith, if administrative or legal proceedings are commenced or
threatened in connection with which this certification is or would be relevant,
we irrevocably authorize you to produce this certification to any interested
party in such proceedings.

*Dated

                                        By ____________________________
                                             Qualified Account Holder

__________________________
*  To be dated no earlier than the date to which this certification relates,
   namely (a) payment date or (b) the date set for the exchange of the temporary
   Global Note for an interest in the permanent Global Note.

                                       24
<PAGE>

                                  SCHEDULE 1

                                    PART 2

                       FORM OF THE PERMANENT GLOBAL NOTE

                              DANAHER CORPORATION
            (incorporated under the laws of the State of Delaware)

                             PERMANENT GLOBAL NOTE

                               (Euro)300,000,000

                         6 1/4 percent Notes due 2005

This permanent Global Note is issued in respect of the (Euro)300,000,000 6 1/4
percent Notes due 2005 (the "Notes") of Danaher Corporation (the "Issuer"). The
Notes are initially represented by a temporary Global Note, interests in which
will be exchanged in accordance with the terms of the temporary Global Note for
interests in this permanent Global Note and, if applicable, Definitive Notes.
The Notes are issued subject to and with the benefit of a Fiscal Agency
Agreement (the "Fiscal Agency Agreement") dated July 25, 2000 between, inter
alios, the Issuer and Deutsche Bank AG London as Fiscal Agent (the "Fiscal
Agent"). The Notes are issued subject to and with the benefit of the Terms and
Conditions of the Notes (the "Conditions") set out in Part 2 of Schedule 2 to
the Fiscal Agency Agreement.

1.       Promise To Pay

         Subject as provided in this permanent Global Note, the Issuer, for
         value received, promises to pay the bearer upon presentation and
         surrender of this permanent Global Note such sum as is equal to the
         principal amount of the Notes represented by this permanent Global Note
         as shown by the latest entry in Part I, Part II or Part III of the
         Schedule to this permanent Global Note on July 26, 2005 or on such
         earlier date as the principal of this permanent Global Note may become
         due under the Conditions and to pay interest on the principal sum for
         the time being outstanding at the rate of 6 1/4 percent per annum from
         July 26, 2000 payable annually in arrears on July 26 in each year until
         payment of the principal sum has been made or duly provided for in full
         together with any other amounts as may be payable, all subject to and
         under the Conditions.

2.       Exchange Of Interests In The Temporary Global Note For Interests In
         This Permanent Global Note

         Upon any exchange of an interest in the temporary Global Note
         representing the Notes for an interest in this permanent Global Note,
         the Fiscal Agent shall make the appropriate entry in Part I of the
         Schedule to this permanent Global Note in order to indicate the
         principal amount of Notes represented by this permanent Global Note
         following such exchange.

3.       Exchange For Definitive Notes And Cancellations

         This permanent Global Note will be exchangeable in whole but not in
         part (free of charge to the holder) for Definitive Notes only (i) so
         long as an Event of Default has occurred and is continuing, (ii) if
         either Morgan Guaranty Trust Company of New York, Brussels office, as
         operator of Euroclear System ("Euroclear") or Clearstream Banking,
         societe anonyme,

                                       25
<PAGE>

         Luxembourg ("Clearstream, Luxembourg") is closed for business period
         for a continuous period of 14 days (other than by reason of holiday,
         statutory or otherwise) or announces an intention permanently to cease
         business or does in fact do so and no alternative clearing system
         satisfactory to the Fiscal Agent is available, (iii) if the Issuer
         would suffer a disadvantage as a result of a change in laws or
         regulations (taxation or otherwise) or as a result of a change in the
         practice of Euroclear and/or Clearstream, Luxembourg which would not be
         suffered were the Notes in definitive form and a certificate to such
         effect signed by two Directors of the Issuer is given to the Fiscal
         Agent or (iv) at the option of an Accountholder (as defined below),
         such option to be exercisable by the giving of instructions to that
         effect by the Accountholder to the holder of the permanent Global Note.
         Thereupon (in the case of (i) and (ii) above) the holder of this
         permanent Global Note (acting on the instructions of (an)
         Accountholder(s) (as defined below)) may or (in the case of (iv) above)
         shall give notice to the Fiscal Agent and the Issuer, and (in the case
         of (iii) above) the Issuer may give notice to the Fiscal Agent and the
         Noteholders, of its intention to exchange this permanent Global Note
         for Definitive Notes on or after the Exchange Date (as defined below).

         On or after the Exchange Date the holder of this permanent Global Note
         may or, in the case of (iii) and (iv) above, shall surrender this
         permanent Global Note to or to the order of the Fiscal Agent. In
         exchange for this permanent Global Note the Issuer will deliver, or
         procure the delivery of, an equal aggregate principal amount of
         Definitive Notes in the denominations of (Euro)1,000, (Euro)10,000 and
         (Euro)100,000 (having attached to them all Coupons in respect of
         interest which has not already been paid on this permanent Global
         Note), security printed in accordance with any applicable legal and
         stock exchange requirements and in or substantially in the form set out
         in Part 1 of Schedule 2 to the Fiscal Agency Agreement. On exchange of
         this permanent Global Note, the Issuer will ensure that this permanent
         Global Note is cancelled.

         "Exchange Date" means a day specified in the notice requiring exchange
         falling not less than 45 days after that on which such notice is given
         and on which banks are open for business in the city in which the
         specified office of the Fiscal Agent is located and in the city in
         which the relevant clearing system is located.

         Upon receipt of instructions from Euroclear or Clearstream, Luxembourg
         that, following the purchase by or on behalf of the Issuer of the whole
         or a part of this permanent Global Note, part is to be cancelled, the
         portion of the principal amount of this permanent Global Note so
         cancelled shall be entered by or on behalf of the Fiscal Agent on Part
         II of the Schedule to this permanent Global Note, whereupon the
         principal amount of this permanent Global Note shall be reduced for all
         purposes by the amount so cancelled and entered.

4.       Benefits

         Until the entire principal amount of this permanent Global Note has
         been extinguished in exchange for Definitive Notes or in any other
         manner envisaged by the Conditions, this permanent Global Note shall in
         all respects be entitled to the same benefits as the Definitive Notes
         referred to above.

5.       Payments

         Payments due in respect of Notes for the time being represented by this
         permanent Global Note shall be made to the bearer of this permanent
         Global Note.

                                       26
<PAGE>

         Upon any payment in respect of the Notes represented by this permanent
         Global Note, the amount so paid shall be endorsed by or on behalf of
         the Fiscal Agent on Part III of the Schedule to this permanent Global
         Note, which endorsement shall, in the absence of manifest error, be
         prima facie evidence that such payment has been made in respect of the
         Notes. In the case of any payment of principal the principal amount of
         this permanent Global Note shall be reduced for all purposes by the
         amount so paid and the remaining principal amount of this permanent
         Global Note shall be entered by or on behalf of the Fiscal Agent on
         Part III of the Schedule to this permanent Global Note.

6.       Accountholders

         For so long as any of the Notes is represented by this permanent Global
         Note and this permanent Global Note is held on behalf of Euroclear
         and/or Clearstream, Luxembourg, each person who is for the time being
         shown in the records of Euroclear and/or Clearstream, Luxembourg as the
         holder of a particular principal amount of Notes (each an
         "Accountholder") (in which regard any certificate or other document
         issued by Euroclear or Clearstream, Luxembourg as to the principal
         amount of such Notes standing to the account of any person shall be
         conclusive and binding for all purposes) shall be treated as the holder
         of that principal amount of such Notes for all purposes (including for
         the purposes of any quorum requirements of, or the right to demand a
         poll at, meetings of the Noteholders) other than with respect to the
         payment of principal and interest on such Notes, the right to which
         shall be vested, as against the Issuer and the Paying Agents, solely in
         the bearer of this permanent Global Note in accordance with and subject
         to its terms. Each Accountholder must look solely to Euroclear or
         Clearstream, Luxembourg, as the case may be, for its share of each
         payment made to the bearer of this permanent Global Note.

         Notes represented by this permanent Global Note are transferable in
         accordance with the rules and procedures for the time being of
         Euroclear or Clearstream, Luxembourg as appropriate.

         The Issuer covenants in favour of each Accountholder that it will make
         all payments in respect of the Notes for the time being shown in the
         records of Euroclear and/or Clearstream, Luxembourg as being held by
         the Accountholder and represented by this permanent Global Note to the
         bearer of this permanent Global Note in accordance with clause 1 above
         and acknowledges that each Accountholder may take proceedings to
         enforce this covenant and any of the other rights which it has under
         the first paragraph of this clause directly against the Issuer.

7.       Notices

         Notices to be given by the Issuer will be given at least once by
         publication in a daily newspaper in the English language with general
         circulation in London, England, and, so long as the Notes are listed on
         the Luxembourg Stock Exchange and the rules of the Luxembourg Stock
         Exchange so require, in a daily newspaper of general circulation in
         Luxembourg. If publication in London or Luxembourg is impractical,
         notices shall be published by such means as will, so far as may be
         reasonably practicable, approximate publication in such newspaper.
         Publication is expected to be made in the Luxemburger Wort in
         Luxembourg and the Financial Times in London. Such notices will be
         deemed to have been given on the date of such publication or, if
         published more than once, on the date of the first such publication.

         For so long as any of the Notes are represented by this permanent
         Global Note and/or the temporary Global Note and this permanent Global
         Note and/or the temporary Global Note is/are held on behalf of
         Euroclear and/or Clearstream, Luxembourg, notices may he given by
         delivery of the relevant notice to Euroclear and/or Clearstream,
         Luxembourg (as the case may be) for

                                       27
<PAGE>

         communication to the relative Accountholders rather than by publication
         as required in the preceding paragraph provided that, so long as the
         Notes are listed on the Luxembourg Stock Exchange, and the rules of
         that stock exchange so require, notices to Noteholders will be
         published in one daily newspaper in Luxembourg (which is expected to be
         the Luxemburger Wort. Any such notice shall be deemed to have been
         given to the Noteholders on the day after such notice is delivered to
         Euroclear and/or Clearstream, Luxembourg (as the case may be) as
         aforesaid or the date of publication, whichever is earlier.

8.       Prescription

         Claims against the Issuer in respect of principal and interest on the
         Notes represented by this permanent Global Note will be prescribed
         after 10 years (in the case of principal) and five years (in the case
         of interest) from the Relevant Date (as defined in Condition 4).

9.       Cancellation

         Cancellation of any Note represented by this permanent Global Note will
         be effected by endorsement by or on behalf of the Fiscal Agent of the
         reduction in the principal amount of this permanent Global Note on Part
         II of the Schedule hereto.

10.      Authentication

         This permanent Global Note shall not become valid or enforceable for
         any purpose unless and until it has been authenticated by or on behalf
         of the Fiscal Agent.

11.      Governing Law

         This permanent Global Note is governed by, and shall be construed in
         accordance with, the laws of the State of New York.

                                       28
<PAGE>

IN WITNESS whereof the Issuer has caused this permanent Global Note to be duly
executed under its corporate seal to be affixed or imported hereon.

DANAHER CORPORATION

By:      ________________________________
Name:    ________________________________
Title:   ________________________________

Attest:  ________________________________
Name:    ________________________________
Title:   ________________________________

Issued on July __, 2000

CERTIFICATE OF AUTHENTICATION

This is the permanent Global Note
described in the Fiscal Agency Agreement

By or on behalf of
Deutsche Bank AG London, as Fiscal Agent
(without recourse, warranty or liability)

By:      ________________________________
               Authorized Signatory

ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO
LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS INCLUDING THE LIMITATIONS
PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE.

                                       29
<PAGE>

                   THE SCHEDULE TO THE PERMANENT GLOBAL NOTE

                                    Part I

                    EXCHANGES OF THE TEMPORARY GLOBAL NOTE

The following exchanges of part of the temporary Global Note for interests in
this permanent Global Note have been made:

<TABLE>
<CAPTION>
Date of exchange                Part of aggregate            Aggregate principal amount    Notation made by or on
                                principal amount of the      of Notes represented by       behalf of the Fiscal Agent
                                temporary Global Note        this permanent Global Note
                                exchanged for this           following exchange
                                permanent Global Note

                                (Euro)                       (Euro)
<S>                             <C>                          <C>                           <C>
_________________               _________________            _________________             _________________

_________________               _________________            _________________             _________________

_________________               _________________            _________________             _________________

_________________               _________________            _________________             _________________

_________________               _________________            _________________             _________________

_________________               _________________            _________________             _________________

_________________               _________________            _________________             _________________

_________________               _________________            _________________             _________________

_________________               _________________            _________________             _________________

_________________               _________________            _________________             _________________

_________________               _________________            _________________             _________________
</TABLE>

                                       30
<PAGE>

                                    Part II

                                 CANCELLATIONS

The following cancellations of a part of the aggregate principal amount of this
permanent Global Note have been made:

<TABLE>
<CAPTION>
Date of cancellation           Part of the aggregate         Remaining principal amount    Notation made by or on
                               principal amount of this      of this permanent Global      behalf of the Fiscal Agent
                               permanent Global Note         Note following cancellation
                               cancelled

                               (Euro)                        (Euro)
<S>                            <C>                           <C>                           <C>
_________________              _________________             _________________             _________________

_________________              _________________             _________________             _________________

_________________              _________________             _________________             _________________

_________________              _________________             _________________             _________________

_________________              _________________             _________________             _________________

_________________              _________________             _________________             _________________

_________________              _________________             _________________             _________________

_________________              _________________             _________________             _________________

_________________              _________________             _________________             _________________

_________________              _________________             _________________             _________________

_________________              _________________             _________________             _________________

_________________              _________________             _________________             _________________
</TABLE>

                                       31
<PAGE>

                                   Part III

                                   PAYMENTS

          The following payments in respect of the Notes represented by this
permanent Global Note have been made:

<TABLE>
<CAPTION>
Date of payment            Amount of interest     Amount of principal     Remaining principal     Notation made by or
                           paid                   paid                    amount of this          on behalf of the
                                                                          permanent Global        Fiscal Agent
                                                                          Note following
                                                                          payment of principal

                           (Euro)                 (Euro)                  (Euro)
<S>                        <C>                    <C>                     <C>                     <C>
______________             ______________         ______________          ______________          ______________

______________             ______________         ______________          ______________          ______________

______________             ______________         ______________          ______________          ______________

______________             ______________         ______________          ______________          ______________

______________             ______________         ______________          ______________          ______________

______________             ______________         ______________          ______________          ______________

______________             ______________         ______________          ______________          ______________

______________             ______________         ______________          ______________          ______________

______________             ______________         ______________          ______________          ______________

______________             ______________         ______________          ______________          ______________

______________             ______________         ______________          ______________          ______________

______________             ______________         ______________          ______________          ______________
</TABLE>

                                       32
<PAGE>

                                  SCHEDULE 2

                                    PART 1

                      FORM OF DEFINITIVE NOTE AND COUPON

(Face of Note)

________________________________________________________________________________

                                 XSO114750515                          011475051
________________________________________________________________________________

                              DANAHER CORPORATION
            (incorporated under the laws of the State of Delaware)

                               (Euro)300,000,000

                         6 1/4 percent Notes due 2005

The issue of the Notes was authorized by a resolution of the board of directors
of Danaher Corporation (the "Issuer") passed on June 2, 2000.

This Note forms one of a series of Notes issued as bearer Notes in the
denominations of (Euro)1,000, (Euro)10,000 and (Euro)100,000, each in an
aggregate principal amount of (Euro)300,000,000.

The Issuer for value received and subject to and in accordance with the Terms
and Conditions endorsed hereon (the "Conditions") hereby promises to pay to the
bearer on July 26, 2005 (or on such earlier date as the principal sum may become
repayable under the said Conditions) the principal sum of:

                       (Euro)[1,000]/[10,000]/(100,000]

together with interest on the principal sum of (Euro) [1,000]/[10,000]/[100,000]
at the rate of 6 1/4 percent per annum payable annually in arrears on July 26 in
each year and together with such other amounts as may be payable, all subject to
and under the Conditions.

The Notes are issued pursuant to a Fiscal Agency Agreement (the "Fiscal Agency
Agreement") dated July 25, 2000 between, inter alios, the Issuer and Deutsche
Bank AG London as Fiscal Agent. The Notes have the benefit of, and are subject
to, the provisions contained in the Fiscal Agency Agreement and the Conditions.

Neither this Note nor any of the Coupons relating to this Note shall become
valid or enforceable for any purpose unless and until this Note has been
authenticated by or on behalf of the Fiscal Agent.

                                       33
<PAGE>

IN WITNESS WHEREOF this Note has been executed on behalf of the Issuer.

Dated as of July __, 2000

Issued in London, England.

                                                  Danaher Corporation

                                                  By:

-------------------------------------
 CERTIFICATE OF AUTHENTICATION

 This is one of the Notes described
 in the Fiscal Agency Agreement.

 By or on behalf of Deutsche Bank
 AG London, as Fiscal Agent
 (without recourse, warranty or
 liability)

-------------------------------------

ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO
LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS INCLUDING THE LIMITATIONS
PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE.

                                       34
<PAGE>

(Reverse of Note)

                            CONDITIONS OF THE NOTES

                   (as set out in Part 2 of this Schedule 2)

                       FISCAL AND PRINCIPAL PAYING AGENT

                            Deutsche Bank AG London
                               Winchester House

                           1 Great Winchester Street
                                London EC2N 2DB

                            THE OTHER PAYING AGENT

                         Deutsche Bank Luxembourg S.A.
                          2 Boulevard Konrad Adenauer
                               L-1115 Luxembourg

                                    UBS AG
                               Bahnhofstrasse 45
                                CH-8098 Zurich
                                  Switzerland

and/or such other or further Fiscal Agent or Paying Agents and/or specified
offices as may from time to time be appointed by the Issuer and notice of which
has been given to the Noteholders.

                                       35
<PAGE>

                              - FORM OF COUPON -

(Face of Coupon)

Danaher Corporation

(Euro)300,000,000 6 1/4 percent Notes due 2005

This Coupon relating to a Note payable in the
denomination of (Euro) [1,000]/[10,000]/[100,000]
is payable to bearer, separately negotiable and
subject to the Conditions of the Notes

                            Coupon for (Euro)[62.5]/[625]/[6,250] due on 20__

ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO
LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS INCLUDING THE LIMITATIONS
PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE.

________________________________________________________________________________
                                 XSO114750515                          011475051

________________________________________________________________________________

                                       36
<PAGE>

(Reverse of Coupon)

FISCAL AND PRINCIPAL PAYING AGENT:
Deutsche Bank AG London
Winchester House
1 Great Winchester Street

London EC2N 2DB

THE OTHER PAYING AGENTS:
Deutsche Bank Luxembourg S.A.
2 Boulevard Konrad Adenauer
L-1115 Luxembourg

UBS AG
Bahnhofstrasse 45
CH-8098 Zurich
Switzerland

                                       37
<PAGE>

                                  SCHEDULE 2

                                    PART 2

                            CONDITIONS OF THE NOTES

The Notes are issued pursuant to a Fiscal Agency Agreement dated July 25, 2000
(the "Fiscal Agency Agreement") among the Issuer, Deutsche Bank AG London as
fiscal agent (in such capacity, the "Fiscal Agent," which expression shall
include any successors thereto), and the paying agents named therein (together
with the Fiscal Agent, the "Paying Agents," which expression shall include any
successors thereto). The statements in these Terms and Conditions include
summaries of, and are subject to, the detailed provisions of the Fiscal Agency
Agreement, which includes the form of the Notes, the interest coupons
appertaining to any definitive Notes (the "Coupons") and which also includes
provisions that are not summarized herein. Copies of the Fiscal Agency Agreement
are available for inspection during normal business hours at the specified
office of the Fiscal Agent and each of the other Paying Agents. The holders of
the Notes (the "Noteholders") and holders of the Coupons (the "Couponholders")
are entitled to the benefit of the Fiscal Agency Agreement and are deemed to
have notice of all the provisions of the Fiscal Agency Agreement, which
provisions are binding on such holders.

1.       Form, Denomination and Title

         The Notes are in bearer form, and in the case of definitive Notes,
         serially numbered, in the denominations of (Euro)1,000, (Euro)10,000
         and (Euro)100,000, with Coupons attached on issue. Title to the Notes
         and the Coupons will pass by delivery. The Issuer, the Fiscal Agent and
         any other Paying Agent may (to the fullest extent permitted by
         applicable law) treat any Noteholder or Couponholder as the absolute
         owner thereof (whether or not such Note or Coupon shall be overdue and
         notwithstanding any notice of ownership or writing thereon, any notice
         of previous loss or theft thereof, or any notice of any trust or other
         interest therein) for the purpose of making payment and for all other
         purposes.

2.       Status

         The Notes will be senior unsecured obligations of the Issuer and will
         rank pari passu without preference among themselves, with other senior
         unsecured obligations of the Issuer, and will rank senior to all
         existing and future subordinated indebtedness of the Issuer.

3.       Covenants

(a)      Limitation on Secured Debt

         The Issuer will not, and will not permit any Subsidiary to, create,
         assume, or guarantee any Secured Debt without making effective
         provision for securities by the Notes equally and ratably secured with
         such Secured Debt. The foregoing restrictions shall not apply, however,
         to debt secured to by:

(1)      purchase money mortgages created to secure payment for the acquisition
         or construction of any property including, but not limited to, any
         indebtedness incurred by the Issuer or a Subsidiary prior to, at the
         time of, or within 180 days after the later of the acquisition, the
         completion of construction (including any improvements on an existing
         property) or the commencement of commercial operation of such property,
         which indebtedness is

                                       38
<PAGE>

         incurred for the purpose of financing all or any part of the purchase
         price of such property or construction or improvements on such
         property;

(2)      mortgages, pledges, liens, security interest or encumbrances
         (collectively referred to herein as "security interests") on property,
         or any conditional sales agreement or any title retention with respect
         to property, existing at the time of acquisition thereof, whether or
         not assumed by the Issuer or a Subsidiary;

(3)      security interests on property or shares of capital stock or
         indebtedness of any corporation or firm existing at the time such
         corporation or firm becomes a Subsidiary;

(4)      security interests in property or shares of capital stock or
         indebtedness of a corporation existing at the time such corporation is
         merged into or consolidated with the Issuer or a Subsidiary or at the
         time of a sale, lease, or other disposition of the properties of a
         corporation or firm as an entirety or substantially as an entirety to
         the Issuer or a Subsidiary, provided that no such security interests
         shall extend to any other Principal Property of the Issuer or such
         Subsidiary prior to such acquisition or to other Principal Property
         thereafter acquired other than additions or improvements to the
         acquired property;

(5)      security interests on property of the Issuer or a Subsidiary in favor
         of the United States of America or any state thereof, or in favor of
         any other country, or any department, agency, instrumentality or
         political subdivision thereof (including, without limitation, security
         interests to secure indebtedness of the pollution control or industrial
         revenue type) in order to permit the Issuer or any Subsidiary to
         perform a contract or to secure indebtedness incurred for the purpose
         of financing all or any part of the purchase price for the cost of
         constructing or improving the property subject to such security
         interests or which is required by law or regulation as a condition to
         the transaction of any business or the exercise of any privilege,
         franchise or license;

(6)      security interests on any property or assets of any Subsidiary to
         secure indebtedness owing by it to the Issuer or to another Subsidiary;

(7)      any mechanics', materialmen's, carriers' or other similar lien arising
         in the ordinary course of business (including construction of
         facilities) in respect of obligations which are not yet due or which
         are being contested in good faith;

(8)      any security interest for taxes, assessments or government charges or
         levies not yet delinquent, or already delinquent, but the validity of
         which is being contested in good faith;

(9)      any security interest arising in connection with legal proceedings
         being contested in good faith, including any judgment lien so long as
         execution thereof is being stayed;

(10)     landlords' liens on fixtures located on premises leased by the Issuer
         or a Subsidiary in the ordinary course of business; or

(11)     any extension, renewal or replacement (or successive extensions,
         renewals or replacements), in whole or in part, of any security
         interest referred to in the foregoing clauses (1) to (10) inclusive.

                                       39
<PAGE>

(b)      Limitations on Sale and Leaseback Transactions

         The Issuer will not, and will not permit any Subsidiary to, enter any
         lease longer than three years (excluding leases of newly acquired,
         improved or constructed property) covering any Principal Property of
         the Issuer or any Subsidiary that is sold to any other person in
         connection with such lease (a "Sale and Leaseback Transaction"), unless
         either:

(1)      the Issuer or such Subsidiary would be entitled, without equally and
         ratably securing the Notes, to incur Indebtedness secured by a mortgage
         on the Principal Property leased pursuant to clauses (1) through (11)
         under Condition 3(a); or

(2)      an amount equal to the value of the Principal Property so leased is
         applied to the retirement, within 120 days of the effective date of
         such arrangement, of indebtedness for borrowed money incurred or
         assumed by the Issuer or a Subsidiary which is recorded as Funded Debt
         (defined to include the Notes and other long-term indebtedness of the
         Issuer or any Subsidiary) as shown on the most recent consolidated
         balance sheet of the Issuer and which in the case of such Indebtedness
         of the Issuer, is not subordinate and junior in right of payment to the
         prior payment of the Notes.

(c)      Exempted Indebtedness

         Notwithstanding Conditions 3(a) and 3(b), the Issuer and any one or
         more Subsidiaries may, without securing the Notes, issue, assume, or
         guarantee Secured Debt or enter into any Sale and Leaseback Transaction
         which would otherwise be subject to the foregoing restrictions,
         provided that, after giving effect thereto, the aggregate amount of
         such Secured Debt then outstanding (not including Secured Debt
         permitted under the exceptions set forth in Condition 3(a)) and the
         Attributable Debt of Sale and Leaseback Transactions (other than Sale
         and Leaseback Transactions in connection with clauses (1) or (2) in
         Condition 3(b)) at such time does not exceed 15% of Consolidated Net
         Assets.

(d)      Payment of Principal and Interest

         The Issuer covenants and agrees for the benefit of the Noteholders that
         it will duly and punctually pay the principal of and interest, if any,
         on the Notes in accordance with the terms of the Notes and these
         Conditions

(e)      Stay, Extension and Usury Laws

         The Issuer covenants (to the extent that it may lawfully do so) that it
         will not at any time insist upon, plead, or in any manner whatsoever
         claim or take the benefit or advantage of, any stay, extension or usury
         law wherever enacted, now or at any time hereafter in force, which may
         affect the covenants or the performance of these Conditions or the
         Notes and the Issuer (to the extent it may lawfully do so) hereby
         expressly waives all benefit or advantage of any such law and covenants
         that it will not by resort to any such law, hinder, delay or impede the
         execution of any power granted under the Fiscal Agency Agreement to the
         Fiscal Agent, but will suffer and permit the execution of every such
         power as though no such law has been enacted.

                                       40
<PAGE>

(f)      Taxes

         The Issuer shall, and shall cause each of its Significant Subsidiaries
         to, pay prior to delinquency all their respective taxes, assessments
         and governmental levies, except as contested in good faith and by
         appropriate proceedings.

4.       Definitions

         For the purpose of these Conditions:

         "Attributable Debt" means in respect of a Sale and Leaseback
         Transaction, as of any particular time, the present value (discounted
         at the rate of interest implicit in the lease involved in such Sale and
         Leaseback Transaction, as determined in good faith by the Issuer) of
         the obligation of the lessee thereunder for rental payments (excluding,
         however, any amounts required to be paid by such lessee, whether or not
         designated as rent or additional rent, on account of maintenance and
         repairs, insurance, taxes, assessments, water rates or similar charges
         or any amounts required to be paid by such lessee thereunder contingent
         upon the amount of sales, maintenance and repairs, insurance, taxes,
         assessments, water rates or similar charges) during the remaining term
         of such lease (including any period for which such lease has been
         extended or may, at the option of the lessor, be extended).

         "Consolidated Assets" means the aggregate of all assets of the Issuer
         and its Subsidiaries (including the value of all existing Sale and
         Leaseback Transactions and any assets resulting from the capitalization
         of other long-term lease obligations in accordance with GAAP),
         appearing on the most recent available consolidated balance sheet of
         the Issuer and its Subsidiaries at their net book values, after
         deducting related depreciation, amortization and other valuation
         reserves, all prepared in accordance with GAAP.

         "Consolidated Current Liabilities" means the aggregate of the current
         liabilities of the Company and its Subsidiaries appearing on the most
         recent available consolidated balance sheet of the Company and its
         Subsidiaries, all in accordance with GAAP. In no event shall
         Consolidated Current Liabilities include any obligation of the Company
         and its Subsidiaries issued under a revolving credit or similar
         agreement if the obligation issued under such agreement matures by its
         terms within twelve months from the date thereof but by the terms of
         such agreement such obligation may be renewed or extended or the amount
         thereof reborrowed or refunded at the option of the Company or any
         Subsidiary for a term in excess of 12 months from the date of
         determination.

         "Consolidated Current Liabilities," means the aggregate of the current
         liabilities of the Issuer and its Subsidiaries appearing on the most
         recent available consolidated balance sheet of the Issuer and its
         Subsidiaries, all in accordance with GAAP. In no event shall
         Consolidated Current Liabilities include any obligation of the Issuer
         and its Subsidiaries issued under a revolving credit or similar
         agreement if the obligation issued under such agreement matures by its
         terms within 12 months from the date thereof but by the terms of such
         agreement such obligation may be renewed or extended or the amount
         thereof reborrowed or refunded at the option of the Issuer or any
         Subsidiary for a term in excess of 12 months from the date of
         determination.

         "Consolidated Net Assets" means Consolidated Assets after deduction of
         Consolidated Current Liabilities.

                                       41
<PAGE>

         "Default" means any event which is, or after notice or passage of time
         would be, an Event of Default;

         "Funded Debt" means all indebtedness for money borrowed having a
         maturity of more than twelve months from the date of the most recent
         consolidated balance sheet of the Issuer and its Subsidiaries or
         renewable and extendable beyond twelve months at the option of the
         borrower and all obligations in respect of lease rentals which under
         GAAP would be shown on the consolidated balance sheet of the Issuer as
         a liability item other than a current liability; provided, however,
         that Funded Debt shall not include any of the foregoing to the extent
         that such indebtedness or obligations are not required by GAAP to be
         shown on the balance sheet of the Issuer.

         "Indebtedness" means, with respect to a Person, (i) all liabilities
         representing borrowed money or purchase money obligations as shown on
         the liability side of a balance sheet, (ii) all indebtedness secured by
         any Lien existing on property owned subject to such Lien, whether or
         not such secured indebtedness has been assumed and (iii) contingent
         obligations in respect of, or to purchase or otherwise acquire, any
         such indebtedness of others described in the foregoing clauses (i) or
         (ii) above, including guarantees and endorsements (other than for
         purposes of collection in the ordinary course of business of any such
         indebtedness).

         "Lien" means, with respect to any property or assets, any mortgage or
         deed of trust, pledge, hypothecation, assignment, security interest,
         lien or other security arrangement of any kind or nature whatsoever on
         or with respect to such property or assets (including any conditional
         sale or other title retention agreement having substantially the same
         economic effect as any of the foregoing).

         "Person" means any individual, corporation, partnership, joint venture,
         association, limited liability company, joint-stock company, trust,
         unincorporated organization or government or any agency or political
         subdivision thereof.

         "Principal Property" means any manufacturing plant, warehouse, office
         building or parcel of real property (including fixtures but excluding
         leases and other contract rights which might otherwise be deemed real
         property) owned by the Issuer or any Subsidiary, whether owned at the
         date of issue of the Notes or thereafter, provided each such plant,
         warehouse, office building or parcel of real property has a gross book
         value (without deduction for any depreciation reserves) at the date as
         of which the determination is being made of in excess of two percent of
         the Consolidated Net Assets of the Issuer and the Subsidiaries, other
         than any such plant, warehouse, office building or parcel of real
         property or portion thereof which, in the opinion of the Board of
         Directors of the Issuer (evidenced by a certified Board Resolution), is
         not of material importance to the business conducted by the Issuer and
         its Subsidiaries taken as a whole.

         "Relevant Date" means (i) the date on which payment on any Note or
         Coupon first becomes due or (ii) if payment to the Fiscal Agent on or
         prior to such due date is improperly withheld or refused, the date on
         which all moneys then due for payment shall have been so received and
         notice to that effect shall have been duly given in accordance with
         "Condition 15" below.

         "Secured Debt" means Indebtedness for borrowed money and any Funded
         Debt which is secured by a security interest in (a) any Principal
         Property or (b) any shares of capital stock or Indebtedness of any
         Subsidiary.

                                       42
<PAGE>

         "Significant Subsidiary" means any direct or indirect Subsidiary of the
         Issuer that would be a "significant subsidiary" as defined in Article
         I, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities
         Act of 1933, as amended, as such regulation is in effect on the date
         hereof.

         "Subsidiary" of any specified Person means any corporation or other
         entity (including, without limitation, partnerships, joint ventures and
         associations) of which at least a majority of the outstanding stock
         having by the terms thereof ordinary voting power for the election of
         directors of such corporation or other entity (irrespective of whether
         or not at the time stock of any other class or classes of such
         corporation shall have or might have voting power by reason of the
         happening of any contingency) is at the time directly or indirectly
         owned by such Person, or by one or more Subsidiaries, or by such
         Persons and one or more other Subsidiaries.

5.       Successor

(a)      Merger

         The Issuer may not merge or consolidate with, or sell, lease or convey
         all or substantially all of its assets to any other corporation,
         unless:

(1)      the successor entity is a corporation, partnership or trust organized
         and existing under the laws of the United States, any State or the
         District of Columbia and such entity shall expressly assume the due and
         punctual payment of the principal of (and premium, if any) and interest
         on all the Notes, according to their terms, and the due and punctual
         performance and observance of all the covenants and conditions of the
         Notes to be performed by the Issuer; and

(2)      immediately after giving effect to the transaction, no Default shall
         have occurred and be continuing.

(b)      Successor Corporation Substituted

         Upon any consolidation or merger, or any sale, lease, conveyance or
         other disposition of all or substantially all of the assets of the
         Issuer in accordance with Condition 5(a), the successor corporation
         formed by such consolidation or into or with which the Issuer is merged
         or to which such sale, lease, conveyance or other disposition is made
         shall succeed to, and be substituted for, and may exercise every right
         and power of, the Issuer under this Agreement with the same effect as
         if such successor person has been named as the Issuer herein; provided,
         however, that the predecessor Issuer in the case of a sale, lease,
         conveyance or other disposition shall not be released from the
         obligation to pay the principal of and interest, if any, on the Notes.

6.       Interest

(a)      Interest on the Notes will be payable in arrears on July 26 of each
         year until maturity (each, an "annual interest payment date"),
         beginning July 26, 2001. The Notes will bear interest at the rate of 6"
         percent per annum. Interest on the Notes payable on each annual
         interest payment date will include interest accrued from and including
         July 26, 2000 (the "Issue Date") or from and including the most recent
         date to which interest has been paid or duly provided for to but
         excluding the next annual interest payment date, including the maturity
         date.

                                       43
<PAGE>

(b)      Interest on the Notes that is required to be calculated for a period of
         less than one year will be calculated on the basis of the actual number
         of days elapsed divided by the actual number of days in the period from
         and including the immediately preceding annual interest payment date to
         but excluding the next annual interest payment date.

7.       Redemption and Purchase

(a)      Redemption at Maturity

         Unless earlier redeemed or purchased and cancelled as provided below,
         the Issuer will redeem the Notes at their principal amount on July 26,
         2005.

(b)      Redemption for Taxation Reasons

         Except as set forth hereunder, the Notes may not be redeemed prior to
         maturity. If (a) as a result of any change in, or amendment to, the
         laws (or any regulations or rulings promulgated thereunder) of the
         United States (or any political subdivision or taxing authority thereof
         or therein), or any change in, or amendment to, the official position
         regarding the application or interpretation of such laws, regulations
         or rulings, which change or amendment is announced or becomes effective
         on or after July 25, 2000, the Issuer becomes or will become obligated
         to pay additional amounts as described herein under the heading
         "Payment of Additional Amounts" or (b) any act is taken by a taxing
         authority of the United States on or after July 25, 2000, whether or
         not such act is taken with respect to the Issuer or any affiliate, that
         results in a substantial probability that the Issuer will or may be
         required to pay such additional amounts, then the Issuer may, at its
         option, redeem the Notes, as a whole but not in part, upon not less
         than 35 days' nor more than 60 days' published notice in accordance
         with "Notices" below at 100% of their principal amount together with
         interest accrued thereon to the respective date fixed for redemption;
         provided that the Issuer determines in its business judgment, that the
         obligation to pay such additional amounts cannot be avoided by the use
         of reasonable measures available to the Issuer, not including
         substitution of the obligor under the Notes. No redemption pursuant to
         (b) above may be made unless the Issuer shall have received an opinion
         of independent counsel to the effect that an act taken by a taxing
         authority of the United States results in a substantial probability
         that it will or may be required to pay the additional amounts described
         herein under the heading "Payment of Additional Amounts" and the Issuer
         shall have delivered to the Fiscal Agent a certificate, signed by a
         duly authorized officer, stating that based on such opinion the Issuer
         is entitled to redeem the Notes pursuant to their terms.

(c)      Purchase

         The Issuer may at any time purchase Notes (provided that all unmatured
         Coupons related thereto are attached or surrendered therewith) in the
         open market or by tender or by private agreement at any price. Such
         Notes may be held, resold or, at the option of the Issuer, surrendered
         to any Paying Agent for cancellation.

                                       44
<PAGE>

(d)      Cancellation

         All Notes redeemed pursuant to the provisions of this Condition will be
         cancelled forthwith, together with all unmatured Coupons surrendered
         therewith, and may not be resold or reissued.

8.       Payment

(a)      Payments of the principal and interest in respect of each Note and
         Coupon will be made in euro against presentation and surrender (or, in
         the case of part payment only, endorsement) of such Note or Coupon
         (subject as provided below), as the case may be, at the office of any
         Paying Agent outside the United States and its possessions. Such
         payments will be made, at the option of the holder, by euro cheque or
         by credit of or transfer to a designated euro account subject in all
         cases to any fiscal or other laws and regulations applicable in the
         place of payment, but without prejudice to the provisions under the
         heading "Payment of Additional Amounts." No payment with respect to any
         Note or Coupon will be made at any office of a Paying Agent located in
         the United States or its possessions, nor will any payment be made by
         transfer to an account maintained in the United States. Each definitive
         Note shall be presented for payment together with all related unmatured
         Coupons, failing which the amount of any missing unmatured Coupon will
         be deducted from the sum due for payment. Any amount so deducted will
         be paid in the manner mentioned above against surrender of the relevant
         missing Coupons within a period ending 10 years from the Relevant Date
         (as defined under the heading "Prescription") in respect of the Note to
         which such Coupon appertained. If any day for payment of principal or
         interest in respect of any Note or Coupon is not a Business Day (as
         defined below), the holder shall not be entitled to payment until the
         next Business Day following such day in such place or to any interest
         or other sums in respect of such postponed payment. If the date for
         redemption of a Note is not an annual interest payment date, the
         accrued interest from the previous annual interest payment date or the
         Issue Date, as the case may be, shall be payable only against
         presentation of such Note.

         "Business Day" means a day which is both a day on which commercial
         banks and foreign exchange markets settle payments in the place where
         the specified office of the Paying Agent to which the Note or Coupon is
         surrendered for payment is located and a day on which the
         Trans-European Automated Real-Time Gross Settlement Express Transfer
         System or any successor thereto is operating.

(b)      The Issuer reserves the right to terminate the appointment of the
         Fiscal Agent and any Paying Agent, to vary the appointment of the
         Fiscal Agent and/or any Paying Agent, and to appoint additional or
         other Paying Agents provided that it will, so long as any of the Notes
         remains outstanding, always maintain a Paying Agent having a specified
         office in a city in western Europe which, so long as the Notes are
         listed on the Luxembourg Stock Exchange, will be in Luxembourg. Not
         less than 30 nor more than 45 days' prior notice (except in the case of
         termination by reason of the insolvency or default of the Fiscal Agent
         or any Paying Agent, when such notice shall be effective forthwith) of
         any such termination, variation or appointment, or any changes in the
         specified office of the Fiscal Agent or any of the other Paying Agents,
         will be given to the Noteholders in accordance with "Condition 15."

                                       45
<PAGE>

9.       Payment of Additional Amounts

         All payments of principal and interest in respect of the Notes and
         Coupons by the Issuer will be made without withholding or deduction for
         or on account of any present or future taxes, duties, assessments or
         governmental charges of whatever nature imposed, levied, withheld or
         assessed by or within the United States or any political subdivision or
         any authority thereof or therein having power to tax, unless such
         withholding or deduction is required by law. In such event the Issuer
         will, subject to the exceptions and limitations set forth below, pay as
         additional interest on the Notes, such additional amounts as are
         necessary in order that the net payment by the Issuer or a paying agent
         of the principal of and interest on the Notes or the Coupons to a
         holder who is not a United States person (as defined below), after
         deduction for any present or future tax, assessment or governmental
         charge of the United States or a political subdivision or taxing
         authority thereof or therein, imposed by withholding with respect to
         the payment, will not be less than the amount provided in the Notes or
         any coupons to be then due and payable; provided, however, that the
         foregoing obligation to pay additional amounts shall not apply:

(a)      in respect of any Note or Coupon presented for payment by the holder of
         any Note or Coupon who is not a United States Alien (as defined
         herein):

(b)      to a tax, assessment or governmental charge that is imposed or withheld
         solely by reason of the holder, or a fiduciary, settlor, beneficiary,
         member or shareholder of the holder if the holder is an estate, trust,
         partnership or corporation, or a person holding a power over an estate
         or trust administered by a fiduciary holder, being considered as:

               (i)   being or having been present or engaged in trade or
                     business in the United States or having or having had a
                     permanent establishment in the United States;

               (ii)  having a current or former relationship with the United
                     States, including a relationship as a citizen or resident
                     thereof;

               (iii) a personal holding company, a foreign personal holding
                     company with respect to the United States, a controlled
                     foreign corporation or a passive foreign investment company
                     for United States tax purposes or a corporation subject to
                     the accumulated earnings tax;

               (iv)  being or having been (i) a "10-percent shareholder" of the
                     Issuer as defined in section 871(h)(3) of the United States
                     Internal Revenue Code of 1986, as amended (the "Code") or
                     (ii) such holder being a bank receiving interests described
                     in Section 881(d)(3)(A) of the Code; or

(c)      to a tax, assessment or governmental charge that is imposed or withheld
         solely by reason of the payment being made in the United States on a
         Note or Coupon;

(d)      to a tax, assessment or governmental charge that is imposed or withheld
         solely by reason of the failure to comply with certification,
         identification or information reporting requirements concerning the
         nationality, residence, identity or connection with the United States
         of the holder or beneficial owner of such Note or any coupon
         appertaining thereto, if compliance is required by statute or by
         regulation of the United States Treasury Department or income tax
         treaty as a precondition to exemption from such tax, assessment or
         other governmental charge;

                                       46
<PAGE>

(e)      to a tax, assessment or governmental charge that is imposed otherwise
         than by withholding by the Issuer or a paying agent from the payment;

(f)      to a tax, assessment or governmental charge that would not have been
         imposed or withheld but for the presentation by the holder of such Note
         or Coupon appertaining thereto for payment on a date more than 30 days
         after the Relevant Date (as defined herein);

(g)      in respect of any estate, inheritance, gift, sales, transfer, personal
         property or similar tax, assessment or governmental charge;

(h)      in respect of any tax, assessment or other governmental charge which is
         payable by a holder that is not the beneficial owner of the Note or
         Coupon, or a portion of either, or that is a foreign or fiduciary
         partnership, but only to the extent that a beneficial owner, settlor
         with respect to such fiduciary or member of the partnership would not
         have been entitled to the payment of such additional amounts had the
         beneficial owner or member received directly its beneficial or
         distributive share of the payment;

(i)      in respect of any tax assessment or other governmental charge required
         to be withheld by any paying agent from any payment of the principal of
         or interest on any Note or Coupon, if such payment can be made without
         such withholding by any other paying agent; or

(j)      in the case of any combination of items (a), (b), (c), (d), (e), (f),
         (g),(h) and (i).

         The Notes and Coupons are subject in all cases to any tax, fiscal or
         other law or regulation or administrative or judicial interpretation
         applicable thereto. Except as specifically provided under this heading
         and under the heading "Redemption for Taxation Reasons", the Issuer
         shall not be required to make any payment with respect to any tax,
         assessment or governmental charge imposed by any government or a
         political subdivision or taxing authority thereof or therein.

         As used in this Condition, the term "United States" means the United
         States of America (including the States and the District of Columbia)
         and its territories, its possessions and other areas subject to its
         jurisdiction and "United States person" means any individual who is a
         citizen or resident of the United States, a corporation, partnership or
         other entity created or organized in or under the laws of the United
         States or any estate or trust the income of which is subject to United
         States federal income taxation regardless of its source; provided,
         however, that elsewhere in the Fiscal Agency Agreement (and the
         schedules attached thereto) such terms shall have the meanings given to
         them by the United States Internal Revenue Code or Regulation S under
         the United States Securities Act of 1933, as amended, as applicable.

10.      Events of Default

         If any one or more of the following events (each, an "Event of
         Default") shall occur:

         (a)   default for 15 days in payment of any interest on the Notes;

         (b)   failure to pay principal with respect to the Notes, if any, when
               due;

                                       47
<PAGE>

         (c)   default by the Issuer in the performance or observance of any
               other of the covenants in the Notes if such default continues for
               60 days after written notice thereof by any Noteholder to the
               Issuer requiring the same to be continued;

         (d)   any indebtedness of the Issuer or any of its Subsidiaries becomes
               due and repayable prematurely by reason of an event of default
               (however described) or the Issuer or any of its Subsidiaries
               fails to make any payment in respect of any indebtedness on the
               due date for payment (as extended by an originally applicable
               grace period) or any security given by the Issuer or any of its
               Subsidiaries for any indebtedness becomes enforceable or if
               default is made by the Issuer or any Subsidiary in making any
               payment due under any guarantee and/or indemnity given by it in
               relation to any indebtedness of any other person (as extended by
               any originally applicable grace period), provided, however, that
               no such event shall constitute an event of default unless the
               indebtedness relating to all such events which shall have
               occurred and be continuing whether individually or in the
               aggregate shall amount to at least $30,000,000 (or its equivalent
               in any other currency); or

         (e)   the Issuer or any of its Significant Subsidiaries pursuant to or
               within the meaning of any Bankruptcy Law (i) commences a
               voluntary case, (ii) consents to the entry of an order for relief
               against it in an involuntary case, (iii) consents to the
               appointment of a Custodian of it or for all or substantially all
               of its property, (iv) makes a general assignment for the benefit
               of its creditors, or (v) generally is unable to pay its debts as
               the same become due; or

         (f)   a court of competent jurisdiction enters an order or decree under
               any Bankruptcy Law that (i) is for relief against the Issuer or
               any of its Significant Subsidiaries in an involuntary case, (ii)
               appoints a Custodian of the Issuer or any of its Significant
               Subsidiaries or for all or substantially all of its property, or
               (iii) orders the liquidation of the Issuer or any of its
               Significant Subsidiaries, and the order or decree remains
               unstayed and in effect for 90 days;

         then any Noteholder may, by written notice to the Issuer at the
         specified office of the Fiscal Agent, effective upon the date of
         receipt thereof by the Fiscal Agent, declare the Note held by the
         holder to be forthwith due and payable whereupon the same shall become
         forthwith due and payable at par, together with accrued interest (if
         any) to the date of repayment, without presentment, demand, protest or
         other notice of any kind. The term "Bankruptcy Law" means Title 11,
         U.S. Code or any similar Federal or State law for the relief of
         debtors. The term "Custodian" means any receiver, trustee, assignee,
         liquidator or similar official under any Bankruptcy Law.

11.      Prescription

         The Notes and Coupons will become void unless presented for payment
         within a period of 10 years (in the case of principal) and five years
         (in the case of interest) after the Relevant Date therefore.

12.      Replacement of Notes and Coupons

         If any Note or Coupon is mutilated, defaced, destroyed, stolen, or
         lost, it may be replaced at the specified office of the Fiscal Agent,
         subject to all applicable laws and stock exchange requirements, upon
         payment by the claimant of such costs as may be incurred in connection

                                       48
<PAGE>

         therewith and on such terms as to evidence and indemnity or otherwise
         as the Issuer and the Fiscal Agent may reasonably require. Mutilated or
         defaced Notes or Coupons must be surrendered before replacements will
         be issued.

13.      Meetings of Noteholders, Modification and Waiver

         The Fiscal Agency Agreement contains provisions for convening meetings
         of the Noteholders to consider any matters affecting their interests,
         including the sanctioning of a modification of the Notes, the Coupons
         or any of the provisions of the Fiscal Agency Agreement. Such a meeting
         may be convened by the Issuer or Noteholders holding not less than 10
         percent of the aggregate principal amount of the Notes then
         outstanding. The quorum at any such meeting is one or more persons
         holding or representing not less than 50 percent of the aggregate
         amount of the Notes then outstanding, or at any adjourned meeting 50
         percent of the aggregate principal amount of the Notes then outstanding
         represented or held by the persons present at such previously adjourned
         meeting, except that at any such meeting the business of which includes
         the modifications of certain provisions of the Notes or the Coupons
         (including modifying the date of maturity of the Notes or at any date
         for payment of interest thereon, reducing or canceling the amount of
         principal or the rate of interest payable in respect of the Notes or
         altering the currency of payment of the Notes or the Coupons), the
         quorum should be one or more persons holding or representing not less
         than two-thirds of the aggregate principal amount of the Notes then
         outstanding, or at any adjourned such meeting one or more persons
         holding or representing not less than one-third in aggregate principal
         amount of the Notes then outstanding. A resolution passed at any
         meeting of the Noteholders shall be binding on all the Noteholders,
         whether or not they are present, and on all Couponholders. The Fiscal
         Agent and Issuer may agree, without the consent of the Noteholders or
         Couponholders, to

               (i)   any modification (except as mentioned above) of the Fiscal
                     Agency Agreement which is not prejudicial to the interests
                     of the Noteholders, or

               (ii)  any modification of the Notes, the Coupons or the Fiscal
                     Agency Agreement which is of a formal, minor, or technical
                     nature or is made to correct a manifest error or to comply
                     with mandatory provisions of the law.

         Any such modification shall be binding on the Noteholders and the
         Couponholders and any such modification shall be notified to the
         Noteholders in accordance with the preceding paragraph as soon as
         practicable thereafter.

14.      Fiscal Agent and Paying Agents

         In acting under the Fiscal Agency Agreement and in connection with the
         Notes and the Coupons, the Fiscal Agent and the other Paying Agents are
         acting solely as agents of the Issuer and do not assume any obligation
         towards, or relationship of agency or trust for or with, any Noteholder
         or Couponholder. The Fiscal Agency Agreement contains provisions for
         the indemnification of the Fiscal Agent and the other Paying Agents and
         for their relief from responsibility. The Fiscal Agent and the other
         Paying Agents are entitled to enter into business transactions with the
         Issuer without accounting for any profit.

15.      Notices

                                       49
<PAGE>

         (a)   Notices to be given by the Issuer will be given at least once by
               publication in a daily newspaper in the English language with
               general circulation in London, England, and, so long as the Notes
               are listed on the Luxembourg Stock Exchange and the rules of the
               Luxembourg Stock Exchange so require, in a daily newspaper of
               general circulation in Luxembourg. If publication in London or
               Luxembourg is impractical, notices shall be published by such
               means as will, so far as may be reasonably practicable,
               approximate publication in such newspaper. Publication is
               expected to be made in the Luxemburger Wort in Luxembourg and the
               Financial Times in London. Such notices will be deemed to have
               been given on the date of such publication or, if published more
               than once, on the date of the first such publication.

         (b)   For so long as all of the Notes are represented by one or both of
               the Global Notes and such Global Note(s) is/are held on behalf of
               Euroclear and/or Clearstream, Luxembourg, notices to holders of
               Notes represented by such Global Note(s) may be given by delivery
               of the relevant notice to Euroclear and/or Clearstream,
               Luxembourg (as the case may be) for communication to the relative
               Accountholders rather than by publication as required in (a)
               above provided that, so long as the Notes are listed on the
               Luxembourg Stock Exchange, and the rules of that stock exchange
               so require, notices to Noteholders will be published in one daily
               newspaper in Luxembourg (which is expected to be the Luxemburger
               Wort). Any such notice shall be deemed to have been given to the
               Noteholders on the day after such notice is delivered to
               Euroclear and/or Clearstream, Luxembourg (as the case may be) as
               aforesaid.

16.      Further Issues

         The Issuer may, without notice to or the consent of the holders of the
         Notes, issue additional Notes of the same tenor as the Notes so that
         such additional Notes and the Notes offered hereby shall form a single
         series, and references herein to the Notes shall include (unless the
         context otherwise requires) any further Notes issued as described in
         this paragraph.

17.      Governing Law

         The Fiscal Agency Agreement, the Notes and the Coupons will be governed
         by and construed in accordance with the laws of the State of New York.

         Any State or federal courts sitting in the Borough of Manhattan, The
         City of New York, shall have jurisdiction to settle any disputes which
         may arise out of or in connection with the Notes or the Coupons and
         accordingly any legal action or proceedings arising out of or in
         connection with the Notes or the Coupons (the "Proceedings") may be
         brought in such courts. The Issuer irrevocably submits to the
         jurisdiction of such courts and waives any objection which it may now
         or hereafter have to Proceedings in any such courts whether on the
         ground of the laying of venue or on the ground that the Proceedings
         have been brought in an inconvenient forum. This submission is made for
         the benefit of each of the Noteholders and Couponholders and shall not
         limit the right of any of them to take Proceedings in any other court
         of competent jurisdiction nor shall the taking of Proceedings in one or
         more jurisdictions preclude the taking of Proceedings in any other
         jurisdiction (whether concurrently or not).

         To the extent that the Issuer has or hereafter may acquire any immunity
         from jurisdiction of any court or from any legal process with respect
         to itself or its property, the Issuer irrevocably waives such immunity
         in respect of its obligations under any Note or Coupon.

                                       50
<PAGE>

                                  SCHEDULE 2

                    PROVISIONS FOR MEETINGS OF NOTEHOLDERS

1.       Definitions

         In this Agreement and the Conditions, the following expressions have
         the following meanings:

         "Block Voting Instruction" means, in relation to any Meeting, a
         document in the English language issued by a Paying Agent:

         (a)   certifying that certain specified Notes (the "Deposited Notes")
               have been deposited with such Paying Agent (or to its order at a
               bank or other depositary) or blocked in an account with a
               clearing system and will not be released until the earlier of:

               (i)   the conclusion of the Meeting; and

               (ii)  the surrender to such Paying Agent, not less than 48
                     hours before the time fixed for the Meeting (or, if the
                     Meeting has been adjourned, the time fixed for its
                     resumption), of the receipt for the deposited or blocked
                     Notes and notification thereof by such Paying Agent to the
                     Issuer;

         (b)   certifying that the depositor of each deposited Note or a duly
               authorized person on its behalf has instructed the relevant
               Paying Agent that the votes attributable to such deposited Note
               are to be cast in a particular way on each resolution to be put
               to the Meeting and that, during the period of 48 hours before the
               time fixed for the Meeting, such instructions may not be amended
               or revoked;

         (c)   listing the total number and (if in definitive form) the
               certificate numbers of the deposited Notes, distinguishing for
               each resolution between those in respect of which instructions
               have been given to vote for, or against, the resolution; and

         (d)   authorizing a named individual or individuals to vote in respect
               of the deposited Notes in accordance with such instructions;

         "Chairman" means, in relation to any Meeting, the individual who takes
         the chair in accordance with paragraph 7;

         "Constitutive Quorum" means:

         (a)   for voting on Ordinary Resolutions, more than half of the
               aggregate principal amount of the outstanding Notes; and

         (b)   for voting on any Extraordinary Resolution, more than two-thirds
               of the aggregate principal amount of the outstanding Notes;

         provided, however, that, in the case of a Meeting which has resumed
         after adjournment for want of a quorum it means:

               (i)   for voting on Ordinary Resolutions more than half of the
                     aggregate principal amount of the Notes then outstanding
                     represented or held by the Voters actually present at such
                     previously adjourned Meeting; and

                                       51
<PAGE>

               (ii)  for voting on any Extraordinary Resolution more than one
                     third of the aggregate principal amount of Notes
                     outstanding.

         "Extraordinary Resolution" means a resolution passed at a duly convened
         Meeting passed by the favorable vote of one or more Voters holding or
         representing in the aggregate more than half of the aggregate principal
         amount of outstanding Notes;

         "Meeting" means a meeting of Noteholders (whether originally convened
         or resumed following an adjournment) convened to resolve an ordinary or
         extraordinary matters;

         "Ordinary Resolution" means any resolution for all business other than
         voting on an Extraordinary Resolution;

         "Proxy" means, in relation to any Meeting, a person appointed to vote
         under a Block Voting Instruction other than:

         (a)   any such person whose appointment has been revoked and in
               relation to whom the Fiscal Agent has been notified in writing of
               such revocation by the time which is 48 hours before the time
               fixed for such Meeting;

         (b)   any such person appointed to vote at a Meeting which has been
               adjourned for want of a quorum and who has not been re-appointed
               to vote at the Meeting when it is resumed; and

         (c)   a director, auditor or employee of the Issuer or any of its
               controlled companies.

         "Voter" means, in relation to any Meeting, the bearer of a Voting
         Certificate, a Proxy or the bearer of a Definitive Note who produces
         such Definitive Note at the Meeting;

         "Voting Certificate" means, in relation to any Meeting, a certificate
         in the English language issued by a Paying Agent and dated in which it
         is stated:

         (a)   that certain specified Notes (the "deposited Notes") have been
               deposited with such Paying Agent (or to its order at a bank or
               other depositary) or blocked in an account with a clearing system
               and will not be released until the earlier of:

               (i)   the conclusion of the Meeting; and

               (ii)  the surrender of such certificate to such Paying Agent; and

         (b)   that the bearer of such certificate is entitled to attend and
               vote at the Meeting in respect of the deposited Notes;

         "Written Resolution" means a resolution in writing signed by or on
         behalf of all holders of Notes who for the time being are entitled to
         receive notice of a Meeting in accordance with the provisions of this
         Schedule, whether contained in one document or several documents in the
         same form, each signed by or on behalf of one or more such holders of
         the Notes;

         "24 hours" means a period of 24 hours including all or part of a day
         upon which banks are open for business in both the places where the
         relevant Meeting is to be held and in each of the places where the
         Paying Agents have their Specified Offices (disregarding for this
         purpose the day upon

                                       52
<PAGE>

         which such Meeting is to be held) and such period shall be extended by
         one period or, to the extent necessary, more periods of 24 hours until
         there is included as aforesaid all or part of a day upon which banks
         are open for business as aforesaid; and

         "48 hours" means 2 consecutive periods of 24 hours.

2.       Issue Of Voting Certificates And Block Voting Instructions

         The holder of a Note may obtain a Voting Certificate from any Paying
         Agent or require any Paying Agent to issue a Block Voting Instruction
         by depositing such Note with such Paying Agent or arranging for such
         Note to be (to its satisfaction) held to its order or under its control
         or blocked in an account with a clearing system not later than 48 hours
         before the time fixed for the relevant Meeting. A Voting Certificate or
         Block Voting Instruction shall be valid until the release of the
         deposited Notes to which it relates. So long as a Voting Certificate or
         Block Voting Instruction is valid, the bearer thereof (in the case of a
         Voting Certificate) or any Proxy named therein (in the case of a Block
         Voting Instruction) shall be deemed to be the holder of the Notes to
         which it relates for all purposes in connection with the Meeting. A
         Voting Certificate and a Block Voting Instruction cannot be outstanding
         simultaneously in respect of the same Note.

3.       References To Deposit/Release Of Notes

         Where Notes are represented by the Temporary Global Note and/or the
         Permanent Global Note or are held in definitive form within a clearing
         system, references to the deposit, or release, of Notes shall be
         construed in accordance with the usual practices (including blocking
         the relevant account) of such clearing system.

4.       Validity Of Block Voting Instructions

         A Block Voting Instruction shall be valid only if it is deposited at
         the specified office of the Fiscal Agent, or at some other place
         approved by the Fiscal Agent, at least 24 hours before the time fixed
         for the relevant Meeting or the Chairman decides otherwise before the
         Meeting proceeds to business. If the Fiscal Agent requires, a notarized
         copy of each Block Voting Instruction and satisfactory proof of the
         identity of each Proxy named therein shall be produced at the Meeting,
         but the Fiscal Agent shall not be obliged to investigate the validity
         of any Block Voting Instruction or the authority of any Proxy.

5.       Convening Of Meeting

         The Issuer may convene a Meeting at any time. The Issuer shall be
         obliged to convene a Meeting upon the request in writing of Noteholders
         holding not less than one tenth of the aggregate principal amount of
         the outstanding Notes.

6.       Notice

         At least 30 days' written notice (exclusive of the day on which the
         notice is given and of the day on which the relevant Meeting is to be
         held) specifying the date, time and place of the Meeting shall be given
         to the Noteholders and the Paying Agents (with a copy to the Issuer).
         The notice shall set out the full text of any resolutions to be
         proposed and shall state that the Notes may be deposited with, or to
         the order of, any Paying Agent for the purpose of obtaining Voting
         Certificates or appointing Proxies not later than 48 hours before the
         time fixed for the Meeting.

                                       53
<PAGE>

7.       Chairman

         An individual (who may, but need not, be a Noteholder) nominated in
         writing by the Issuer may take the chair at any Meeting but, if no such
         nomination is made or if the individual nominated is not present within
         15 minutes after the time fixed for the Meeting, those present shall
         elect one of themselves to take the chair failing which, the Issuer may
         appoint a Chairman. The Chairman of an adjourned Meeting need not be
         the same person as was the Chairman of the original Meeting.

8.       Quorum

         A Meeting shall be deemed validly convened if at least one or more
         Voters representing or holding not less than the Constitutive Quorum
         are present at the Meeting provided, however, that, so long as at least
         the Constitutive Quorum of the aggregate principal amount of the
         outstanding Notes is represented by the Temporary Global Note and/or
         the Permanent Global Note, a single Proxy representing the holder
         thereof shall be deemed to be two Voters for the purpose of forming a
         quorum.

9.       Adjournment for want of quorum

         If within 15 minutes after the time fixed for any Meeting a quorum is
         not present, then:

         (a)   in the case of a Meeting requested by Noteholders, it shall be
               dissolved; and

         (b)   in the case of any other Meeting, it shall be adjourned for such
               period (which shall be not less than 14 days and not more than 42
               days) and to such place as the Chairman determines; provided,
               however, that:

               (i)   the Meeting shall be dissolved if the Issuer so decides;
                     and

               (ii)  no Meeting may be adjourned more than once for want of a
                     quorum.

10.      Adjourned Meeting

         The Chairman may, with the consent of (and shall if directed by) any
         Meeting, adjourn such Meeting from time to time and from place to
         place, but no business shall be transacted at any adjourned Meeting
         except business which might lawfully have been transacted at the
         Meeting from which the adjournment took place.

11.      Notice following adjournment

         Paragraph 6 shall apply to any Meeting which is to be resumed after
         adjournment for want of a quorum save that:

         (a)   10 days' notice (exclusive of the day on which the notice is
               given and of the day on which the Meeting is to be resumed) shall
               be sufficient; and

         (b)   the notice shall specifically set out the quorum requirements
               which will apply when the Meeting resumes.

         It shall not be necessary to give notice of the resumption of a Meeting
         which has been adjourned for any other reason.

                                       54
<PAGE>

12.      Participation

         The following may attend and speak at a Meeting:

         (a)   Voters;

         (b)   representatives of the Issuer and the Fiscal Agent;

         (c)   the financial advisers of the Issuer;

         (d)   the legal counsel to the Issuer and the Fiscal Agent; and

         (e)   any other person approved by the Meeting.

13.      Show of hands

         Every question submitted to a Meeting shall be decided in the first
         instance by a show of hands. Unless a poll is validly demanded before
         or at the time that the result is declared, the Chairman's declaration
         that on a show of hands a resolution has been passed, passed by a
         particular majority, rejected or rejected by a particular majority
         shall be conclusive, without proof of the number of votes cast for, or
         against, the resolution.

14.      Poll

         A demand for a poll shall be valid if it is made by the Chairman, the
         Issuer or one or more Voters representing or holding not less than one
         fiftieth of the aggregate principal amount of the outstanding Notes.
         The poll may be taken immediately or after such adjournment as the
         Chairman directs, but any poll demanded on the election of the Chairman
         or on any question of adjournment shall be taken at the Meeting without
         adjournment. A valid demand for a poll shall not prevent the
         continuation of the relevant Meeting for any other business as the
         Chairman directs.

15.      Votes

         Every Voter shall have one vote in respect of each Note held by him.

         In the case of a voting tie the Chairman shall have a casting vote.

         Unless the terms of any Block Voting Instruction state otherwise, a
         Voter shall not be obliged to exercise all the votes to which he is
         entitled or to cast all the votes which he exercises in the same way.

16.      Validity of Votes by Proxies

         Any vote by a Proxy in accordance with the relevant Block Voting
         Instruction shall be valid even if such Block Voting Instruction or any
         instruction pursuant to which it was given has been amended or revoked,
         provided that the Fiscal Agent has not been notified in writing of such
         amendment or revocation by the time which is 24 hours before the time
         fixed for the relevant Meeting. Unless revoked, any appointment of a
         Proxy under a Block Voting Instruction in relation to a Meeting shall
         remain in force in relation to any resumption of such Meeting following
         an adjournment; provided, however, that no such appointment of a Proxy
         in relation to a Meeting originally convened which has been adjourned
         for want of a quorum shall remain in

                                       55
<PAGE>

         force in relation to such Meeting when it is resumed. Any person
         appointed to vote at such a Meeting must be re-appointed under a Block
         Voting Instruction Proxy to vote at the Meeting when it is resumed.

17.      Powers

         A duly convened Meeting shall have power (exercisable by either
         Ordinary Resolution or Extraordinary Resolution), without prejudice to
         any other powers conferred on it or any other person and in accordance
         with the provision of Clause 8:

         (a)   To approve all business other than an Extraordinary Resolution,
               with a majority of at least one more than half of the Voters
               present at the Meeting, in first or second call; and

         (b)   to approve any of the following Extraordinary Resolutions with a
               majority of one more than half of the aggregate principal amount
               of the outstanding Notes, at the first call or second call; (i)
               to change any date fixed for payment of principal or interest in
               respect of the Notes, to reduce the amount of principal or
               interest payable on any date in respect of the Notes or to alter
               the method of calculating the amount of any payment in respect of
               the Notes on redemption or maturity or the date for any such
               payment; (ii) to effect the exchange or substitution of the Notes
               for, or the conversion of the Notes into, shares, Notes or other
               obligations or securities of the Issuer or any other person or
               body corporate formed or to be formed; (iii) to change the
               currency in which amounts due in respect of the Notes are
               payable; (iv) to change the quorum required at any Meeting or the
               majority required to pass an Extraordinary Resolution; (v) to
               amend this definition; (vi) the substitution of any person for
               the Issuer (or any previous substitute) as principal obligor
               under the Notes and the Deed of Covenant; (vii) waiver to any
               breach or authorization of any proposed breach by the Issuer of
               its obligations under or in respect of the Notes or the Deed of
               Covenant or any act or omission which might otherwise constitute
               an event of default under the Notes; (vii) authorization of the
               Fiscal Agent or any other person to execute all documents and do
               all things necessary to give effect to any Extraordinary
               Resolution; (ix) any other authorization or approval which is
               required to be given by Extraordinary Resolution; (x) appointment
               of any persons as a committee to represent the interests of the
               Noteholders and to confer upon such committee any powers which
               the Noteholders could themselves exercise by Extraordinary
               Resolution; (xi) adopt a proposal for controlled administration
               or composition with creditors of the Issuer; (xii) create of a
               fund for the expenses incurred by the Noteholders in respect of
               the Notes; and (xiii) any matter of interest to the Noteholders.

18.      Extraordinary Resolution binds all holders

         An Extraordinary Resolution shall be binding upon all Noteholders and
         holders of Coupons whether or not present at such Meeting and each of
         the Noteholders shall be bound to give effect to it accordingly. Notice
         of the result of every vote on an Extraordinary Resolution shall be
         given to the Noteholders and the Paying Agents (with a copy to the
         Issuer) within 14 days of the conclusion of the Meeting.

19.      Minutes

         Minutes shall be made of all resolutions and proceedings at each
         Meeting. The Chairman shall sign the minutes, which shall be prima
         facie evidence of the proceedings recorded therein. Unless and until
         the contrary is proved, every such Meeting in respect of the
         proceedings of

                                       56
<PAGE>

         which minutes have been summarized and signed shall be deemed to have
         been duly convened and held and all resolutions passed or proceedings
         transacted at it to have been duly passed and transacted.

20.      Written Resolution

         A Written Resolution shall take effect as if it were an Extraordinary
         Resolution.

                                       57
<PAGE>

Please confirm that this letter correctly sets out the arrangements agreed
between us.

Yours faithfully,

DEUTSCHE BANK AG LONDON

By:     /s/ Mark Jones         /s/ Richard Tate
       -------------------------------------------------
Name:   Mark Jones             Richard Tate
Title:  Vice President         Assistant Vice President

DEUTSCHE BANK LUXEMBOURG S.A.

By:     /s/ Mark Jones
       -------------------------------------------------
Name:   Mark Jones
Title:  Vice President

UBS AG

By:     /s/ Mark Jones
       -------------------------------------------------
Name:   Mark Jones
Title:  Vice President

We agree to the foregoing.

DANAHER CORPORATION

By:     /s/ Chris McMahon
       -------------------------------------------------
Name:   Chris McMahon
Title:  V.P. and Controller

                                       58<PAGE>

                                                                Exhibit 10I

                              EMPLOYMENT AGREEMENT

          THIS EMPLOYMENT AGREEMENT ("Agreement") is entered into as of this
18th day of July, 2000 (the "Effective Date"), by and between Danaher
Corporation, a Delaware corporation (the "Company"), and Henry Lawrence Culp,
Jr. (the "Executive").

          WHEREAS, the Company desires to employ the Executive, and the
Executive desires to be employed by the Company, on the terms and conditions set
forth herein.

          NOW, THEREFORE, in consideration of the mutual covenants and
agreements set forth herein and other good and valuable consideration, the
receipt and sufficiency of which hereby are acknowledged, the parties hereto
agree as follows:

          1.  Employment. On the terms and conditions set forth in this
              ----------
Agreement, the Company agrees to employ the Executive, and the Executive agrees
to be employed by the Company, for the term set forth in Section 2 hereof and in
the position and with the duties set forth in Section 3 hereof.

          2. Term. The employment of the Executive by the Company as provided in
             ----
Section 1 hereof shall commence on the date of execution of this Agreement (the
"Effective Date") and, unless sooner terminated as hereinafter set forth, shall
end three (3) years thereafter; provided that, unless sooner terminated as
                                --------
hereinafter set forth, the term of this Agreement shall be extended
automatically for additional one (1) year periods on the second anniversary date
of this Agreement and each subsequent anniversary date (the "Applicable
Anniversary Notice Date"), unless and until either party provides written notice
to the other party not less than ninety (90) days prior to the Applicable
Anniversary Notice Date that the party is terminating this Agreement, which
termination shall be effective as of the end of the initial term or extended
term, as the case may be.

          3. Position and Duties. The Executive shall serve as the Chief
             -------------------
Operating Officer of the Company, or in another position of equal or greater
title, authority and responsibility, as assigned by the Chief Executive Officer
of the Company or the board of directors of the Company (the "Board"), with
duties and responsibilities as the Chief Executive Officer of the Company or the
Board may from time to time determine and assign to the Executive. The Executive
agrees to serve without additional compensation, if elected or appointed
thereto, as a director of the Company and any of its subsidiaries and in one or
more executive offices of any of the Company's subsidiaries, provided that the
Executive is indemnified for serving in any and all director capacities on a
basis no less favorable than is
<PAGE>

currently provided by the Company to any other director of the Company or any of
its subsidiaries. The Executive shall devote the Executive's best efforts and
full business time to the performance of the Executive's duties and the
advancement of the business and affairs of the Company.

          4. Place of Performance. In connection with the Executive's employment
             --------------------
by the Company, the Executive shall be based at the principal executive offices
of the Company which the Company retains the right to change in its discretion
or at such other place as the Company and the Executive mutually agree and
subject to Section 9(c)(iv) hereof.

          5. Compensation.
             ------------
             (a) Base Salary. The Company shall pay to the Executive an annual
                 -----------
base salary (the "Base Salary") at the rate of $600,000 per year. The Base
Salary shall be reviewed for increases no less frequently than annually on the
same basis as such salary reviews are made with respect to other executive
officers of the Company. If the Executive's Base Salary is increased, the
increased amount shall be the Base Salary for the remainder of the term of the
Executive's employment hereunder. The Base Salary shall be payable biweekly or
in such other installments as shall be consistent with the Company's payroll
procedures.

             (b) Annual Bonus. During the first and each succeeding calendar
                 ------------
year of the term, the Executive shall have a target bonus opportunity of 100% of
the Executive's Base Salary, and a maximum bonus opportunity for extraordinary
performance, expressed as a percentage of the target bonus opportunity, not less
favorable than that provided for the Executive on the Effective Date, or for the
President and Chief Executive Officer, following any appointment to that office,
(the "Annual Bonus"). The amount of the Annual Bonus shall be determined by the
Compensation Committee of the Board in its sole discretion, based upon the
Company's achievement of pre-established, objective budgetary and other
performance goals. For any year in which the Company has a shareholder approved
bonus plan meeting the requirements of Section 162(m) of the Internal Revenue
Code, such bonus shall be determined by such committee in a manner that will
permit the Annual Bonus payable to the Executive to be fully deductible by the
Company. The amount of each Annual Bonus shall be determined and paid not later
than 15 days after the Company's earnings for the preceding fiscal year have
been publicly announced. The Executive shall be entitled to a pro-rata portion
of the target Annual Bonus for any calendar year (or fiscal year, if other than
a calendar year) in which his termination of employment occurs except in the
case of a termination for Cause pursuant to Section 9(b)(ii) or a termination by
the Executive without Good Reason.

             (c) Other Benefits. The Company shall maintain in full force and
                 --------------
effect, and the Executive shall be entitled to participate in, all of the
employee

                                      -2-
<PAGE>

benefit and fringe benefit plans and arrangements in effect on the date hereof
in which executives of the Company participate or plans or arrangements
providing the Executive with at least equivalent benefits thereunder (including,
without limitation, the Executive Deferred Incentive Program, and each group
life insurance and accident plan, medical and dental insurance plans, and
disability plan); provided, however, that, changes in such plans or arrangements
may be made, including termination of such plans or arrangements if it occurs
pursuant to a program applicable to all executives of the Company and does not
result in a proportionately greater reduction in the rights of or benefits to
the Executive as compared with any other executive of the Company.
Notwithstanding any other provision of this sub-paragraph, during the term of
the Executive's employment hereunder, the Company shall provide the Executive
with term life insurance (which may include any group life insurance arrangement
provided by the Company to its other employees), covering the Executive's life
in a face amount each year equal to six times the Executive's base salary for
such year through age fifty five, at which time the face amount of such
insurance coverage may be decreased by the Company to four times the Executive's
base salary (the "Age 55 Face Amount") and thereafter the face amount may be
decreased by the Company by ten percent of the Age 55 Face Amount upon each
birthday of the Executive thereafter. The Executive agrees to cooperate with the
Company in obtaining such insurance, including submitting to a physical
examination if required to do so by the insurance carrier. The beneficiary of
this insurance will be designated by the Executive and if not so designated, the
beneficiary will be his estate. Nothing paid to the Executive under any fringe
plan or arrangement presently in effect or made available in the future shall be
deemed to be in lieu of the salary payable to the Executive pursuant to Section
5(a). Any payments or benefits payable to the Executive hereunder in respect of
any calendar year during which the Executive is employed by the Company for less
than the entire such year shall, unless otherwise provided in the applicable
plan or arrangement be pro-rated in accordance with the number of days in such
calendar year during which he is so employed.

             (d) Vacation; Holidays. The Executive shall be entitled to all
                 ------------------
public holidays observed by the Company and vacation days in accordance with the
applicable vacation policies in effect for senior executives of the Company,
which shall be taken at a reasonable time or times.

             (e) Relocation Assistance Loan. In addition to the Company's
                 --------------------------
standard relocation package, a copy of which is attached as Exhibit 1, the
Company shall lend to the Executive, on an interest-free basis, the sum of
$500,000 (the "Loan") to assist him in meeting his relocation expenses, with the
loan proceeds to be payable to the Executive within fourteen (14) days after the
execution by the Executive of a Promissory Note substantially in the form
attached as Exhibit 2. The Company shall also make lump-sum payments sufficient,
after giving effect to all federal, state and other applicable taxes, to make
the Executive whole for any taxes that might be incurred as a result of the
making of, any imputation of interest

                                      -3-
<PAGE>

on, or forgiveness of, the Loan. The Executive agrees that in the event that
his employment with the Company is terminated for Cause or without Good Reason
prior to the third anniversary of the Effective Date, he shall repay to the
Company a pro rata portion of the Loan based on the following formula:

          Amount of Loan Repayment = $500,000
                                      x
                                (1095 - Number of Days from the Effective
                                Date until the Date of Termination) / 1095

          Any repayment called for under this Section shall be made to the
Company within fourteen (14) days of the Executive's Date of Termination;
alternatively, at the Company's sole discretion, the loan repayment obligation
may be satisfied, in whole or in part, by the Company offsetting that obligation
against amounts owed to the Executive by the Company.  If the Executive's
employment continues beyond the third anniversary of the Effective Date, or if
the Executive's employment is terminated prior to such date for any reason other
than Cause or without Good Reason, then the Company shall forgive the Loan in
its entirety as of the Date of Termination.

             (f) Withholding Taxes and Other Deductions. To the extent required
                 --------------------------------------
by law, the Company shall withhold from any payments due Executive under this
Agreement any applicable federal, state or local taxes and such other deductions
as are prescribed by law or Company policy.

             (g) Club Memberships. During the term of the Executive's employment
                 ----------------
hereunder, the Company shall reimburse the Executive for the cost of maintaining
annual membership during the term in his existing club and the cost of joining
and maintaining annual membership during the term in a club of his choosing
located within the District of Columbia, or the suburban Maryland or Virginia
area adjacent to the District of Columbia.

              (h) Tax and Financial Planning. During the term of the Executive's
                  --------------------------
employment hereunder, the Company shall reimburse the Executive for the
reasonable expenses incurred by the Executive in connection with obtaining
professional tax and financial planning advice.

             (i) Annual Physical Examination. During the term of the Executive's
                 ---------------------------
employment hereunder, the Company shall reimburse the Executive for the
reasonable expenses incurred by the Executive in undergoing an annual physical
examination by a licensed physician.

             (j) Compensation During Disability. During any period that the
                 ------------------------------
Executive fails to perform the Executive's duties hereunder as a result of
incapacity due to physical or mental illness (the "Disability Period"), the
Executive shall be treated as fully employed and shall continue to receive, or
receive the benefit of (as

                                      -4-
<PAGE>

the case may be) all items described in Section 5 hereof at the rate then in
effect for such period until his employment is terminated pursuant to
Section 9(b)(i) hereof; provided, that payments made to the Executive during
                        --------
the first 180 days of the Disability Period shall be reduced by the sum of the
amounts, if any, payable to the Executive at or prior to the time of any payment
under disability benefit plans of the Company and which amounts were not
previously applied to reduce any payment.

          6. Expenses. During the term of the Executive's employment hereunder,
             --------
the Executive shall be entitled to receive prompt reimbursement for all
reasonable and customary expenses incurred by the Executive in performing
services hereunder, including all expenses of travel and living expenses while
away from home on business or at the request of and in the service of the
Company, provided that all such expenses are accounted for in accordance with
the policies and procedures established by the Company. The Company shall also
provide the Executive during the term of his employment hereunder with an
automobile allowance of $2,000 per month.

          7. Confidential Information.
             ------------------------
             (a) The Executive covenants and agrees that the Executive will not
ever, without the prior written consent of the Board or a person authorized by
the Board or except as may be ordered by a court of competent jurisdiction,
publish or disclose to any unaffiliated third party or use for the Executive's
personal benefit or advantage any confidential information with respect to the
Company's past, present, or planned business, including but not limited to all
information and materials related to any Company business, business plan,
product, service, procedure, strategy, method (including the Danaher Business
System), technique, technology, research, strategy, plan, customer or supplier
information, customer or supplier list, financial data, technical data, computer
files, and computer software, including any of the foregoing that is in any
stage of research, development, or planning, and any other information which the
Executive obtained while employed by, or otherwise serving or acting on behalf
of, the Company or which the Executive may possess or have under his control,
that is not generally known (except for unauthorized disclosures) to the public
or within the industry in which the Company does business. This covenant shall
not limit the Executive's use of such confidential information in the normal
course of his performance of services for the Company.

             (b) The Executive acknowledges that the restrictions contained in
Section 7(a) hereof are reasonable and necessary, in view of the nature of the
Company's business, in order to protect the legitimate interests of the Company,
and that any violation thereof would result in irreparable injury to the
Company. Therefore, the Executive agrees that in the event of a breach or
threatened breach by the Executive of the provisions of Section 7(a) hereof, the
Company shall be

                                      -5-
<PAGE>

entitled to obtain from any court of competent jurisdiction, preliminary or
permanent injunctive relief restraining the Executive from disclosing or using
any confidential information. Nothing herein shall be construed as prohibiting
the Company from pursuing any other remedies available to it for breach or
threatened breach, including, without limitation, recovery of damages from the
Executive.

             (c) The Executive shall deliver promptly to the Company on
termination of employment, or at any other time the Company may so request, all
confidential materials, memoranda, notes, records, reports and other documents
and materials (and all copies thereof), in whatever form or medium, that contain
any of the foregoing, including but not limited to computer data, files,
software, and hardware, relating to the Company's or its affiliates' respective
businesses which the Executive obtained while employed by, or otherwise serving
or acting on behalf of, the Company or which the Executive may then possess or
have under his control.

          8. Non-Competition.
             ---------------
               (a) Non-Competition. The Executive covenants and agrees that the
                   ---------------
Executive will not, during the Executive's employment hereunder and for a period
of three (3) years thereafter (to the extent permitted by law), at any time and
in the United States or any other jurisdiction in which the Company is engaged
or has reasonably firm plans to engage in business, enter into any competitive
endeavors and not undertake any commercial activity which is contrary to the
best interests of the Company or its subsidiaries or affiliates, including
becoming an employee, owner (except for passive investments of not more than
three percent (3%) of the outstanding shares of, or any other equity interest
in, any company or entity listed or traded on a national securities exchange or
in an over-the-counter securities market), officer, agent, advisor, consultant
or director of any firm or person which directly competes with a line or lines
of business of the Company.

             (b) Injunctive Relief. In the event the restrictions against
                 -----------------
engaging in a competitive activity contained in Section 8(a) hereof shall be
determined by any court of competent jurisdiction to be unenforceable by reason
of their extending for too great a period of time or over too great a
geographical area or by reason of their being too extensive in any other
respect, Section 8(a) hereof shall be interpreted to extend only over the
maximum period of time for which it may be enforceable and over the maximum
geographical area as to which it may be enforceable and to the maximum extent in
all other respects as to which it may be enforceable, all as determined by the
court in the action.

             (c) Non-Solicitation. The Executive covenants and agrees that the
                 ----------------
Executive will not, during the Executive's employment hereunder and for a period
of three (3) years thereafter solicit, induce, entice, or encourage or attempt
to solicit, induce, entice, or encourage any employee of the Company or any of
the Company's

                                      -6-
<PAGE>

affiliates to render services for any other person, firm, entity, or
corporation or to terminate his or her employment with the Company.

          9. Termination of Employment.
             -------------------------
             (a) Death. The Executive's employment hereunder shall terminate
                 -----
upon the Executive's death.

             (b) By the Company. The Company may terminate the Executive's
                 --------------
employment hereunder under the following circumstances:

                 (i) The Company may terminate the Executive's employment
hereunder for "Disability." For purposes of this Agreement, the Company shall
have the right to terminate the Executive's employment by reason of "Disability"
if, as a result of the Executive's incapacity due to physical or mental illness,
the Executive shall have been absent from his duties hereunder on a full-time
basis for the entire period of six (6) consecutive months, and within thirty
(30) days after written notice of termination is given shall not have returned
to the performance of his duties hereunder on a full-time basis.

                (ii) The Company may terminate the Executive's employment
hereunder with or without "Cause." For purposes of this Agreement, "Cause" shall
mean (A) the willful and continued failure by the Executive to substantially
perform his duties hereunder (other than any such failure resulting from the
Executive's incapacity due to physical or mental illness or any such actual or
anticipated failure after the issuance of a Notice of Termination, as defined in
Section 9(e), by the Executive for Good Reason, as defined in Section 9(c)),
after demand for substantial performance is delivered by the Company that
specifically identifies the manner in which the Company believes the Executive
has not substantially performed his duties, which is not cured within 10 days
after notice of such failure has been given to the Executive by the Company, (B)
the willful engaging by the Executive in misconduct which is materially
injurious to the Company, monetarily or otherwise (including, but not limited
to, conduct that violates Section 8(a) hereof), or (C) the Executive's
conviction of any felony. For purposes of this paragraph, no act, or failure to
act, on the Executive's part shall be considered "willful" unless done, or
omitted to be done by him not in good faith and without reasonable belief that
his action or omission was in the best interest of the Company.

               (iii) The Company, in the sole discretion of the Board, may
terminate the Executive's employment hereunder at any time other than for
Disability or Cause, for any reason or for no reason at all.

        (c) By the Executive. The Executive may terminate the Executive's
            ----------------
employment hereunder at any time, with or without "Good Reason." For purposes of
this Agreement, "Good Reason" shall mean any one or more of the following
circumstances:

                                      -7-
<PAGE>

                 (i) A failure by the Company to comply with any material
provision of this Agreement which has not been cured within ten (10) days after
notice of such noncompliance has been given by the Executive to the Company,
including, without limitation, any failure to appoint or continue the Executive
to an office or position as required by this Agreement;

                (ii) Any purported termination of the Executive's employment
which is not effected pursuant to a Notice of Termination satisfying the
requirements of Section 9(e) hereof (and for purposes of this Agreement no such
purport ed termination shall be effective);

               (iii) The assignment to the Executive of any duties materially
inconsistent with his status as the Chief Operating Officer, or as the President
and Chief Executive Officer of the Company (as applicable at the time when the
events enumerated in this paragraph (iii) occur) or a material adverse
alteration in the nature or status of his responsibilities in connection with
such positions;

                (iv) Relocation of the Executive to a location which is not
within Washington, the District of Columbia, or the suburban Maryland or
Virginia area adjacent to the District of Columbia, except for required travel
on the Company's business to an extent substantially consistent with the
Executive's business travel obligations;

                 (v) The failure by the Company to continue in effect any
compensation or benefit plan in which the Executive participated as of the
Effective Date and which is material to the Executive's aggregate compensation
and benefits hereunder, unless an equitable arrangement (embodied in an ongoing
substitute or alternative plan) has been made with respect to such plan, or the
failure by the Company to continue the Executive's participation therein (or in
such substitute or alternative plan) on a basis not materially less favorable,
both in terms of the amount of benefits provided and the level of the
Executive's participation relative to other participants, as existed at the
Effective Date;

                (vi) If there is a Change of Control, merger, acquisition or
other similar affiliation with another entity (a "Corporate Event") and the
Executive does not continue as the Chief Operating Officer, or any other more
senior office or directorship he holds immediately prior to such Corporate
Event, of the most senior resulting entity of the affiliated group of which
Company or the surviving entity is a member after the Corporate Event; or

               (vii) The failure of the Company to obtain a satisfactory
agreement from any successor to assume and agree to perform this Agreement.

             (d) Change of Control. For the purpose of this Agreement, a "Change
                 -----------------
of Control" shall mean any one or more of the following circumstances:

                                      -8-
<PAGE>

                 (i)  The acquisition by any individual, entity or group (within
the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of
1934, as amended (the "Exchange Act")) (a "Person") of beneficial ownership
(within the meaning of Rule 13d-3 promulgated under the Exchange Act) of the
greater of (1) 30% or more of either (A) the then-outstanding shares of common
stock of the Company (the "Outstanding Company Common Stock") or (B) the
combined voting power of the then-outstanding voting securities of the Company
entitled to vote generally in the election of directors (the "Outstanding
Company Voting Securities") and (2) the lowest whole number percentage which is
greater than the combined percentage of the Outstanding Company Common Stock or
the Outstanding Company Voting Securities owned by Steven and Mitchell Rales and
affiliates (within the meaning of Rule 12b-2 of the Securities Exchange Act of
1934, as amended) of Steven and Mitchell Rales (without duplication); provided,
however, that for purposes of this subsection any acquisition by any employee
benefit plan (or related trust) sponsored or maintained by the Company or any
corporation controlled by the Company shall not constitute a Change of Control;
or

                (ii) Individuals who, as of the date hereof, constitute the
Board (the "Incumbent Board") cease for any reason to constitute at least a
majority of the Board; provided, however, that any individual becoming a
director subsequent to the date hereof whose election, or nomination for
election by the Company's shareholders, was approved by a vote of at least a
majority of the directors then comprising the Incumbent Board shall be
considered as though the individual were a member of the Incumbent Board, but
excluding, for this purpose, any individual whose initial assumption of office
occurs as a result of an actual or threatened election contest with respect to
the election or removal of directors or other actual or threatened solicitation
of proxies or consents by or on behalf of a Person other than the Board; or

               (iii) Consummation of a reorganization, merger or consolidation
or sale or other disposition of all or substantially all of the assets of the
Company (a "Business Combination"), in each case, unless, following a Business
Combination, all or substantially all of the individuals and entities who were
the beneficial owners, respectively, of the Outstanding Company Common Stock and
Outstanding Company Voting Securities immediately prior to the Business
Combination beneficially own, directly or indirectly, more than 50% of,
respectively, the then- outstanding shares of common stock and the combined
voting power of the then-outstanding voting securities entitled to vote
generally in the election of directors, as the case may be, of the corporation
resulting from the Business Combination (including, without limitation, a
corporation which as a result of the transaction owns the Company or all or
substantially all of the Company's assets either directly or through one or more
subsidiaries) in substantially the same proportions as their ownership,
immediately prior to the Business Combination of the Outstanding Company Common
Stock and Outstanding Company Voting Securities, as the case may be; or

                                      -9-
<PAGE>

                (iv) Approval by the shareholders of the Company of a complete
liquidation or dissolution of the Company.

             (e) Notice of Termination. Any termination of the Executive's
                 ---------------------
employment by the Company or the Executive (other than pursuant to Section 9(a)
hereof) shall be communicated by written "Notice of Termination" to the other
party hereto in accordance with Section 11 hereof. For purposes of this
Agreement, a "Notice of Termination" shall mean a notice which shall indicate
the specific termination provision in this Agreement relied upon, if any, and,
if for "Cause" or for "Good Reason", shall set forth in reasonable detail the
facts and circumstances claimed to provide a basis for termination of the
Executive's employment under the provision so indicated.

             (f) Date of Termination. For purposes of this Agreement, the "Date
                 -------------------
of Termination" shall mean (i) if the Executive's employment is terminated by
the Executive's death, the date of the Executive's death; (ii) if the
Executive's employment is terminated pursuant to Section 9(b)(i) hereof, thirty
(30) days after Notice of Termination, provided that the Executive shall not
have returned to the performance of the Executive's duties on a full-time basis
during this 30-day period; (iii) if the Executive's employment is terminated
pursuant to Section 9(b)(ii) or 9(c) hereof, the date specified in the Notice of
Termination; and (iv) if the Executive's employment is terminated for any other
reason, the date on which Notice of Termination is given.

          10.  Compensation Upon Termination.
               -----------------------------
             (a) If the Executive's employment is terminated by the Executive's
death, the Company shall pay or provide the following amounts to the Executive's
estate, or as may be directed by the legal representatives of the estate, not
later than 14 days from the Date of Termination in the case of the payments
referred to in clauses (i), (ii) and (iii) below and, at the time when such
payments are due, in the case of the payments referred to in clause (iv) below
(the respective "Payment Due Dates") and the Company shall have no further
obligations to the Executive under this Agreement:

                 (i) Base Salary through the Date of Termination;

                (ii) the balance of any annual or long-term cash incentive
awards (if any) earned (but not yet paid) pursuant to the terms of the
applicable programs;

               (iii) any deferred compensation (together with any accrued
interest or earnings thereon) including but not limited to deferred bonuses
allocated or credited to the Executive or his account as of the Date of
Termination, or date of payment, if later; and

                                      -10-
<PAGE>

                (iv) the pro-rata Annual Bonus determined in accordance with
Section 5(b), and any other or additional benefits in accordance with applicable
plans or programs of the company.

          For purposes of this Agreement, the amounts listed in subsections (i)
through (iv) above shall be collectively referred to as the "Accrued
Obligations."

          (b) (i) If the Company terminates the Executive's employment for
Disability as provided in Section 9(b)(i) hereof, the Company shall pay or
provide the Executive all of the Accrued Obligations, on the respective Payment
Due Dates, and the Company shall have no further obligations to the Executive
under this Agreement except as provided in clause (ii) below; provided, that
                                                              --------
payments made to the Executive during the Disability Period shall be reduced by
the sum of the amounts, if any, payable to the Executive at or prior to the time
of any payment under disability benefit plans of the Company, to the extent not
previously applied to reduce any payment.

                (ii) The Company shall maintain in full force and effect, for
the continued benefit of the Executive for twelve months following the Date of
Termination due to Disability, all employee welfare benefit plans and programs
in which the Executive was entitled to participate immediately prior to the Date
of Termination provided that the Executive's continued participation is possible
under the general terms and provisions of such plans and programs. In the event
that the Executive's participation in any such plan or program is barred, the
Company shall arrange to provide the Executive with benefits substantially
similar to those which the Executive would otherwise have been entitled to
receive under such plans and programs from which his continued participation is
barred.

             (c) If the Company terminates the Executive's employment for Cause
as provided in Section 9(b)(ii) hereof, or if the Executive terminates his
employment without Good Reason, the Company shall pay or provide, on the
respective Payment Due Dates, the Executive all of the Accrued Obligations,
other than the pro-rata bonus, and the Company shall have no further obligations
to the Executive under this Agreement.

             (d) If the Company terminates the Executive's employment other than
for Cause or Disability or if the Executive terminates the Executive's
employment for Good Reason as provided in Section 9(c) hereof, or if the Company
terminates this Agreement by giving notice of termination pursuant to Section 2,
the Company shall pay or provide, on the respective Payment Due Dates or as
otherwise provided below, and shall have no further obligations to the
Executive:

                 (i)  The Accrued Obligations;

                                      -11-
<PAGE>

                (ii) An amount equal to the sum of (x) the Executive's Base
Salary and (y) the target Annual Bonus for the year of termination, in
substantially equal proportionate installments in accordance with the Company's
normal payroll practices, commencing with the first payroll period in the month
following the month in which the Date of Termination occurs, for a period of two
years;

               (iii) The Company shall pay all reasonable legal fees and
expenses incurred by the Executive as a result of such termination, including
the reasonable fees and expenses of enforcing the terms of this Agreement, if
the Executive establishes that he was terminated without Cause or terminated his
employment for Good Reason, or in connection with any tax audit or proceeding to
the extent attributable to the application of Section 4999 of the Internal
Revenue Code of 1986 as amended (the "Code") to any payment or benefit provided
hereunder;

                (iv) For two years after the Date of Termination, or any longer
period as may be provided by the terms of the appropriate plan, program,
practice or policy, the Company shall continue benefits to the Executive and the
Executive's family at least equal to those which would have been provided to
them in accordance with the welfare benefit plans, practices, policies and
programs provided by the Company and its affiliated companies (including,
without limitation, medical, prescription, dental, disability, employee life,
group life, accidental death and travel accident insurance plans and programs)
to the extent applicable generally to other peer employees of the Company and
its affiliated companies, as if the Executive's employment had not been
terminated; provided, however, that if the Executive becomes reemployed with
            --------  -------
another employer and is eligible to receive medical or other welfare benefits
under another employer provided plan, the medical and other welfare benefits
described herein shall be secondary to those provided under the other plan
during the applicable period of eligibility; and

                 (v) To the extent not theretofore paid or provided, the Company
shall timely pay or provide to the Executive any other amounts or benefits
required to be paid or provided or which the Executive is eligible to receive
under any plan, program, policy or practice or contract or agreement of the
Company and its affiliated companies.

             (e) Excise Tax Restoration Payment. In the event that it is
                 ------------------------------
determined that any payment or distribution of any type to or for the benefit of
the Executive made by the Company, by any of its affiliates, by any person who
acquires ownership or effective control or ownership of a substantial portion of
the Company's assets (within the meaning of section 280G of the Code) or by any
affiliate of this person, whether paid or payable or distributed or
distributable pursuant to the terms of an employment agreement or otherwise (the
"Total Payments"), would be subject to the excise tax imposed by section 4999 of
the Code

                                      -12-
<PAGE>

or any interest or penalties with respect to the excise tax (the excise
tax, together with any interest or penalties, are collectively referred to as
the "Excise Tax"), then the Executive shall be entitled to receive an additional
payment (an "Excise Tax Restoration Payment") in an amount that shall fund the
payment by the Executive of any Excise Tax on the Total Payments as well as all
income taxes imposed on the Excise Tax Restoration Payment, any Excise Tax
imposed on the Excise Tax Restoration Payment and any interest or penalties
imposed with respect to taxes on the Excise Tax Restoration or any Excise Tax.

             (f) Mitigation. The Executive shall not be required to mitigate
                 ----------
amounts payable pursuant to Section 10 hereof by seeking other employment
provided, however, that the Company's obligation to continue to provide the
--------  -------
Executive with fringe benefits pursuant to this Agreement above, shall cease if
the Executive and his family become eligible to participate in fringe benefits
substantially similar to those provided for in this Agreement as a result of the
Executive's employment during the period that the Executive and his family is
entitled to these fringe benefits.

             (g)  No Additional Payments. Notwithstanding anything to the
                  ----------------------
contrary in this Agreement, the Executive acknowledges and agrees that in the
event of the termination of his employment, even if in breach of this Agreement,
he will be entitled only to those payments specified herein for the
circumstances of his termination, and not to any other payments by way of
damages or claims of any nature, whether under this Agreement or under any other
agreements between the Executive and the Company.

         11. Notices. All notices, demands, requests or other communications
             -------
required or permitted to be given or made hereunder shall be in writing and
shall be delivered, telecopied or mailed by first class registered or certified
mail, postage prepaid, addressed as follows:

          (a)  If to the Company:

               Danaher Corporation
               1250 24th Street, N.W., Suite 800
               Washington, D.C. 20037
               (202) 828-0850
               Telecopy: (202) 828-0860
               Attention:  Secretary

                                      -13-
<PAGE>

        (b)    If to the Executive:

               Henry Lawrence Culp, Jr.
               c/o Danaher Corporation
               1250 24th Street, N.W., Suite 800
               Washington, D.C. 20037
               (202) 828-0850
               Telecopy: (202) 828-0860

               with a copy (which shall not constitute notice) to:

               Stephen T. Lindo, Esq.
               Willkie Farr & Gallagher
               787  7th Avenue
               New York, NY  10019
               (212) 728-8242
               Telecopy: (212) 728-8111

or to such other address as may be designated by either party in a notice to the
other.  Each notice, demand, request or other communication that shall be given
or made in the manner described above shall be deemed sufficiently given or made
for all purposes three (3) days after it is deposited in the U.S. mail, postage
prepaid, or at such time as it is delivered to the addressee (with the return
receipt, the delivery receipt, the answer back or the affidavit of messenger
being deemed conclusive evidence of delivery) or at such time as delivery is
refused by the addressee upon presentation.

          12. Severability. The invalidity or unenforceability of any one or
              ------------
more provisions of this Agreement shall not affect the validity or
enforceability of the other provisions of this Agreement, which shall remain in
full force and effect.

         13. Survival. It is the express intention and agreement of the parties
             --------
hereto that the provisions of Sections 7 and 8 hereof shall survive the
termination of employment of the Executive. In addition, all obligations of the
Company to make payments hereunder shall survive any termination of this
Agreement on the terms and conditions set forth herein.

         14. Successors and Assigns.
             ----------------------
             (a) This Agreement is personal to the Executive and without the
prior written consent of the Company shall not be assignable by the Executive
otherwise than by will or the laws of descent and distribution. This Agreement
shall inure to the benefit of and be enforceable by the Executive's legal
representatives.

             (b) This Agreement shall inure to the benefit of and be binding
upon the Company and its successors and assigns.

                                      -14-
<PAGE>

             (c) The Company will require any successor or any party that
acquires control of the Company (whether direct or indirect, by purchase,
merger, consolidation or otherwise) to all or substantially all of the business
and/or assets of the Company or any party that acquires control of the Company
to assume expressly and agree to perform this Agreement in the same manner and
to the same extent that the Company would be required to perform it if no
succession had taken place. As used in this Agreement, "Company" shall mean the
Company as hereinbefore defined and any successor to its business and/or assets
as aforesaid which assumes and agrees to perform this Agreement by operation of
law, or otherwise.

          15. Resolution of Disputes. Any disputes arising under on in
              ----------------------
connection with this Agreement shall, at the election of the Executive or the
Company, be resolved by binding arbitration, to be held in Washington, D.C. in
accordance with the rules and procedures of the American Arbitration
Association. Judgment upon the award rendered by the arbitrator(s) may be
entered in any court having jurisdiction thereof. Each party shall bear its own
costs and expenses in connection with any arbitration or court proceeding
(including fees and disbursements of counsel), subject to Section 10(d)(iii)
hereof.

          16. Legal Fees. The Company shall promptly pay the legal fees and
              ----------
expenses incurred by the Executive in connection with negotiation and execution
of this Agreement.

          17. Binding Effect. Subject to any provisions hereof restricting
              --------------
assignment, this Agreement shall be binding upon the parties hereto and shall
inure to the benefit of the parties and their respective heirs, devisees,
executors, administrators, legal representatives, successors and assigns.

          18. Amendment; Waiver. This Agreement shall not be amended, altered or
              -----------------
modified except by an instrument in writing duly executed by the parties hereto.
Neither the waiver by either of the parties hereto of a breach of or a default
under any of the provisions of this Agreement, nor the failure of either of the
parties, on one or more occasions, to enforce any of the provisions of this
Agreement or to exercise any right or privilege hereunder, shall thereafter be
construed as a waiver of any subsequent breach or default of a similar nature,
or as a waiver of any provisions, rights or privileges hereunder.

          19. Headings. Section and subsection headings contained in this
              --------
Agreement are inserted for convenience of reference only, shall not be deemed to
be a part of this Agreement for any purpose, and shall not in any way define or
affect the meaning, construction or scope of any of the provisions hereof.

          20. Governing Law. This Agreement, the rights and obligations of the
              -------------
parties hereto, and any claims or disputes relating thereto, shall be governed
by

                                      -15-
<PAGE>

and construed in accordance with the laws of the State of Delaware (but not
including the choice of law rules thereof).

          21. Entire Agreement. This Agreement constitutes the entire agreement
              ----------------
between the parties hereto with respect to the subject matter hereof, and it
supersedes all prior oral or written agreements, commitments or understandings
with respect to the matters provided for herein other than stock option
agreements and certificates and the Company's employee benefit plans which are
covered by the Employee Retirement Income Security Act of 1974.

          22. Counterparts. This Agreement may be executed in two or more
              ------------
counterparts, each of which shall be an original and all of which shall be
deemed to constitute one and the same instrument.

          IN WITNESS WHEREOF, the undersigned have duly executed this Agreement,
or have caused this Agreement to be duly executed on their behalf, as of the day
and year first hereinabove written.

                              DANAHER CORPORATION

                              By: /s/ Steven M. Rales
                                  -------------------
                                  Name:  STEVEN M. RALES
                                  Title: Chairman of the Board
                                  Date of Execution:____________

                              THE EXECUTIVE:

                              /s/ H.L. Culp, Jr.
                              -------------------
                              Henry Lawrence Culp, Jr.
                              Date of Execution: October 13, 2000
                                                 ----------------

                                      -16-
<PAGE>

                                PROMISSORY NOTE

$500,000.00                                    WASHINGTON, D.C.

October 13, 2000

          FOR VALUE RECEIVED, the undersigned Henry Lawrence Culp, Jr.
(hereinafter "Culp") hereby promises to pay to the order of Danaher Corporation,
1520 24th Street, Suite 800, N.W., Washington, D.C. 20037 (hereinafter called
the "Company") the principal amount of FIVE HUNDRED THOUSAND DOLLARS
($500,000.00), without interest, in the manner set forth herein.

          This Note and the indebtedness evidenced hereby are being provided
pursuant to the terms of the employment agreement dated July 18, 2000 (the
"Effective Date") between Culp and the Company (the "Employment Agreement").

          Subject to the terms and conditions contained herein, if Culp is
employed by the Company for the full period from the Effective Date through the
third anniversary of the Effective Date (the "Third Anniversary"), then on the
Third Anniversary the indebtedness evidenced by this Note shall be forgiven by
the Company in full as of such date and this Note shall be marked cancelled.  In
the event Culp's employment with the Company is terminated prior to the Third
Anniversary, the following shall apply:

          A.  If Culp's employment with the Company is terminated for "Cause"
(as defined in the Employment Agreement), Culp will repay to the Company, within
fourteen (14) days of such termination date, a pro rata portion of the sums
advanced to him pursuant to this Note based on the following formula:

          Amount of principal to be repaid = $500,000
                                    multiplied by
                                    (1,095 minus the number of days from the
                                    Effective Date through the Date of
                                    Termination) divided by 1,095.

          B.  In the event that Culp's employment with the Company is terminated
either by the Company without Cause (as defined in the Employment Agreement) or
by reason of Culp's death or Disability or by Culp for "Good Reason" (each as
defined in the Employment Agreement), then on the date of such employment
termination the indebtedness evidenced by this Note shall be forgiven by the
Company in full as of such date and this Note shall be marked cancelled.

          C.  In the event Culp terminates his employment with the Company other
than for Good Reason, Culp shall repay, within fourteen (14) days of such

                                      -1-
<PAGE>

termination date, the same principal amount evidenced by this Note as if he had
been terminated for "Cause".  The repayment obligation referenced in the
preceding sentence shall not apply in the event of a termination of the
Employment Agreement by reason of Culp's death or Disability.

          The Company shall have the right to set off any amounts which Culp
owes the Company hereunder against any monies which the Company or any of its
subsidiaries may owe to Culp, of any nature whatsoever, including without
limitation, any compensation and any severance owed under the Employment
Agreement or any other benefit owed to or held by Culp as an employee of the
Company or any of its subsidiaries, and Culp hereby agrees to and authorizes any
such setoff.

          If payment of the principal on this Note is not paid in accordance
with the terms aforementioned, then this Note shall be deemed to be in default
and if suit is brought to collect this Note, the Company shall be entitled to
collect, in addition to any principal outstanding, all reasonable costs and
expenses to include, but not necessarily be limited to, reasonable attorneys'
fees and expenses.

          Presentment, notice of dishonor and protest are hereby waived by Culp.
This Note shall be binding upon Culp and his heirs, executors, administrators,
and legal representatives.

          No delay or omission on the part of the Company in exercising any
rights hereunder shall operate as a waiver of such rights or of any other right
to the Company, nor shall any delay, omission or waiver on any one occasion be
deemed as a bar to or waiver of the same or any other right on any future
occasion.  This note may not be changed or terminated orally.

          Culp shall have the right to prepay the principal of this Note, in
whole or in part, at any time or times, without penalty.

          All rights and obligations hereunder shall be governed by, and
construed and enforced in accordance with, the substantive laws of the State of
Delaware, and this Note is executed as, and shall have effect of, a sealed
instrument.  If any provision of this transaction is inconsistent with the laws
and status of the State of Delaware, the rest of the transaction shall not be
affected, and that part that is not in accord with the said laws shall be
adjusted to so comply.

          IN WITNESS WHEREOF, the undersigned has executed this Note as an
instrument under seal this 13th day of October, 2000.

                              /s/  H.L. Culp, Jr.
                              -------------------
                              Henry Lawrence Culp, Jr.

                                      -2-

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