UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): September 15, 2015
Danaher Corporation
(Exact Name of Registrant as Specified in Charter)
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Delaware |
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001-08089 |
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59-1995548 |
(State or Other Jurisdiction
of Incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
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2200 Pennsylvania Ave., N.W., Suite 800W
Washington, D.C. |
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20037-1701 |
(Address of Principal Executive Offices) |
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(Zip Code) |
Registrants telephone number, including area code: 202-828-0850
Not applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. Entry into a Material Definitive Agreement
On September 15, 2015, Danaher Corporation (Danaher) issued $500,000,000 aggregate principal amount of 1.650% Senior Notes due 2018 (the
2018 Notes), $500,000,000 aggregate principal amount of 2.400% Senior Notes due 2020 (the 2020 Notes), $500,000,000 aggregate principal amount of 3.350% Senior Notes due 2025 (the 2025 Notes) and $500,000,000
aggregate principal amount of 4.375% Senior Notes due 2045 (the 2045 Notes, and together with the 2018 Notes, the 2020 Notes and the 2025 Notes, the Notes), in an underwritten public offering pursuant to a registration
statement on Form S-3 (File No. 333-203948) filed with the Securities and Exchange Commission (the Commission) on May 7, 2015, as amended by a Post-Effective Amendment No. 1 thereto (as amended, the Registration
Statement), filed with the Commission on June 15, 2015, and a related prospectus filed with the Commission. The Notes were sold pursuant to the terms of an underwriting agreement (the Underwriting Agreement) dated as of
September 10, 2015 among Danaher and Citigroup Global Markets Inc. and Barclays Capital Inc., as representatives of the several underwriters named therein. The Underwriting Agreement was separately filed with the Commission on
September 11, 2015 as Exhibit 1.1 to Danahers Current Report on Form 8-K.
The Notes were issued under an indenture dated as of
December 11, 2007 (the Base Indenture) between Danaher and The Bank of New York Mellon Trust Company, N.A., as trustee (the Trustee) and a supplemental indenture dated as of September 15, 2015 (the
Supplemental Indenture and, together with the Base Indenture, the Indenture).
The 2018 Notes will mature on September 15,
2018, the 2020 Notes will mature on September 15, 2020, the 2025 Notes will mature on September 15, 2025 and the 2045 Notes will mature on September 15, 2045. Interest on each series of the Notes will be paid semi-annually in arrears
on March 15 and September 15 of each year, commencing on March 15, 2016.
At any time prior to September 15, 2018 (the maturity date
of the 2018 Notes), in the case of the 2018 Notes, at any time prior to August 15, 2020 (one month prior to the maturity date of the 2020 Notes), in the case of the 2020 Notes, at any time prior to June 15, 2025 (three months prior to the
maturity date of the 2025 Notes), in the case of the 2025 Notes, and at any time prior to March 15, 2045 (six months prior to the maturity date of the 2045 Notes), in the case of the 2045 Notes, we will have the right, at our option, to redeem
the applicable series of Notes, in whole or in part, at any time and from time to time, by paying a make-whole premium, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption. In addition, on or after
August 15, 2020 (one month prior to the maturity date of the 2020 Notes), in the case of the 2020 Notes, June 15, 2025 (three months prior to the maturity date of the 2025 Notes), in the case of the 2025 Notes, and March 15, 2045 (six
months prior to the maturity date of the 2045 Notes), in the case of the 2045 Notes, we will have the right, at our option, to redeem the applicable series of Notes, in whole or in part, at any time and from time to time, at a redemption price equal
to 100% of the principal amount of the Notes of such series to be redeemed, plus accrued and unpaid interest, if any, on the principal amount being redeemed to the date of redemption.
If a change of control triggering event occurs with respect to the Notes, each holder of Notes may require
Danaher to repurchase some or all of its Notes at a purchase price equal to 101% of the principal amount of the Notes, plus accrued interest. A change of control triggering event means the occurrence of both a change of control and a rating event.
The Notes of each series are general unsecured obligations of Danaher, equal in right of payment with all existing and any future unsecured and
unsubordinated indebtedness of Danaher, senior in right of payment to any existing and future indebtedness of Danaher that is subordinated to the Notes, and effectively subordinated in right of payment to any existing and future secured indebtedness
of Danaher to the extent of the assets securing such indebtedness, and structurally subordinated to all existing and any future indebtedness and any other liabilities of Danahers subsidiaries.
Upon the occurrence of an event of default with respect to the Notes, which includes payment defaults, defaults in the performance of certain covenants, and
bankruptcy and insolvency related defaults, Danahers obligations under the Notes may be accelerated, in which case the entire principal amount of the Notes would be immediately due and payable.
The above description of the Indenture is qualified in its entirety by reference to the Base Indenture and the Supplemental Indenture. The Base Indenture has
been included as Exhibit 1.2 to Danahers Current Report on Form 8-K filed on December 11, 2007, and the Supplemental Indenture is filed as Exhibit 4.1 hereto. The Base Indenture and the Supplemental Indenture are incorporated herein by
reference.
We are filing the items listed below as exhibits to this Current Report for the purpose of incorporating them as exhibits to the Registration
Statement.
Item 9.01 Financial Statements and Exhibits
The following exhibits are filed herewith:
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Exhibit No. |
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Description |
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4.1 |
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Supplemental Indenture, dated as of September 15, 2015. |
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5.1 |
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Opinion of Wilmer Cutler Pickering Hale and Dorr LLP. |
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12.1 |
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Calculation of Pro Forma Ratio of Earnings to Fixed Charges. |
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23.1 |
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Consent of Wilmer Cutler Pickering Hale and Dorr LLP (contained in Exhibit 5.1 above). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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DANAHER CORPORATION |
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Date: September 15, 2015 |
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By: |
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/s/ Daniel L. Comas |
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Name: |
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Daniel L. Comas |
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Title: |
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Executive Vice President and Chief Financial Officer |
Exhibit 4.1
EXECUTION COPY
DANAHER
CORPORATION
AND
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
as Trustee
SUPPLEMENTAL INDENTURE
1.650% Senior Notes Due 2018
2.400% Senior Notes Due 2020
3.350% Senior Notes Due 2025
4.375% Senior Notes Due 2045
Dated as of September 15, 2015
THIS SUPPLEMENTAL INDENTURE (this Supplemental Indenture), dated as of
September 15, 2015, is between DANAHER CORPORATION, a Delaware corporation (the Company), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, as Trustee (the Trustee).
RECITALS
WHEREAS, the
Company has heretofore executed and delivered to the Trustee an Indenture dated as of December 11, 2007, between the Company and the Trustee (the Base Indenture and together with this Supplemental Indenture, the
Indenture), providing for the issuance from time to time of series of the Companys Securities;
WHEREAS,
Section 901(7) of the Base Indenture provides for the Company and the Trustee to enter into an indenture supplemental to the Base Indenture to establish the forms or terms of Securities of any series as permitted by Section 201 or
Section 301 of the Base Indenture;
WHEREAS, pursuant to Section 301 of the Base Indenture, the Company wishes to provide for
the issuance of the following new series of Securities to be known as its: (a) 1.650% Senior Notes due 2018 (the 2018 Notes), (b) 2.400% Senior Notes due 2020 (the 2020 Notes), (c) 3.350% Senior
Notes due 2025 (the 2025 Notes) and (d) 4.375% Senior Notes due 2045 (the 2045 Notes, and together with the 2018 Notes, 2020 Notes and 2025 Notes, the Notes). The form of each such series
of Notes and the terms, provisions and conditions thereof shall be as set forth in this Supplemental Indenture; and
WHEREAS, the Company
has requested that the Trustee execute and deliver this Supplemental Indenture and all requirements necessary to make this Supplemental Indenture a valid and binding instrument enforceable in accordance with its terms, and to make each series of
Notes, when executed and delivered by the Company and authenticated by the Trustee, the valid, binding and enforceable obligations of the Company, have been done and performed, and the execution and delivery of this Supplemental Indenture has been
duly authorized in all respects;
NOW, THEREFORE, in consideration of the covenants and agreements set forth herein and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
ARTICLE
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DEFINITIONS
Section 1.01 Relation to Base Indenture. This Supplemental Indenture constitutes an integral part of the Base Indenture.
Section 1.02 Definition Of Terms. For all purposes of this Supplemental Indenture:
(a) Capitalized terms used herein without definition shall have the meanings set forth in the Base Indenture;
(b) a term defined anywhere in this Supplemental Indenture has the same meaning throughout;
(c) the singular includes the plural and vice versa;
(d) headings are for convenience of reference only and do not affect interpretation;
(e) the following terms have the meanings given to them in this Section 1.02(e):
2018 Notes Interest Payment Date shall have the meaning set forth in Section 2.05(b).
2020 Notes Interest Payment Date shall have the meaning set forth in Section 2.05(c).
2025 Notes Interest Payment Date shall have the meaning set forth in Section 2.05(d).
2045 Notes Interest Payment Date shall have the meaning set forth in Section 2.05(e).
2018 Notes Maturity Date shall have the meaning set forth in Section 2.02.
2020 Notes Maturity Date shall have the meaning set forth in Section 2.02.
2025 Notes Maturity Date shall have the meaning set forth in Section 2.02.
2045 Notes Maturity Date shall have the meaning set forth in Section 2.02.
2018 Notes Record Date shall mean, with respect to any 2018 Notes Interest Payment Date, the March 1 and
September 1, whether or not a Business Day, immediately preceding the related 2018 Notes Interest Payment Date, which constitutes a Regular Record Date for purposes of the Base Indenture.
2020 Notes Record Date shall mean, with respect to any 2020 Notes Interest Payment Date, the March 1 and
September 1, whether or not a Business Day, immediately preceding the related 2020 Notes Interest Payment Date, which constitutes a Regular Record Date for purposes of the Base Indenture.
2025 Notes Record Date shall mean, with respect to any 2025 Notes Interest Payment Date, the March 1 and
September 1, whether or not a Business Day, immediately preceding the related 2025 Notes Interest Payment Date, which constitutes a Regular Record Date for purposes of the Base Indenture.
2045 Notes Record Date shall mean, with respect to any 2045 Notes Interest Payment Date, the March 1 and
September 1, whether or not a Business Day, immediately preceding the related 2045 Notes Interest Payment Date, which constitutes a Regular Record Date for purposes of the Base Indenture.
Business Day shall mean any day other than a Saturday or Sunday, which is not a day on which banking institutions in The
City of New York are authorized or required by law, regulation or executive order to close.
Change of Control
means the occurrence of any of the following: (1) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any person (as that term is defined in
Section 13(d)(3) of the Exchange Act) (other than (a) the Company or one of its subsidiaries, (b) any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other
fiduciary or administrator of any such plan and (c) Steven M. Rales and Mitchell P. Rales) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the
Companys Voting Stock
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or other Voting Stock into which the Companys Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; or (2) the direct
or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of all or substantially all of the Companys assets and the assets of its subsidiaries,
taken as a whole, to one or more Persons (other than the Company or one of its subsidiaries). Notwithstanding the foregoing, (1) a transaction will not be deemed to involve a Change of Control if (A) the Company becomes a direct or
indirect wholly-owned subsidiary of a holding company and (B)(i) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Companys Voting
Stock immediately prior to that transaction or (ii) immediately following that transaction no Person (other than a holding company satisfying the requirements of this sentence) is the beneficial owner, directly or indirectly, of more than 50%
of the Voting Stock of such holding company and (2) a Change of Control will be deemed not to have occurred as a result of any change or event occurring in connection with, or as a result of, the Separation, including, without limitation, any
changes in the composition of the Board of Directors of the Company.
Change of Control Offer shall have the meaning
set forth in Section 3.02.
Change of Control Payment shall have the meaning set forth in Section 3.02.
Change of Control Payment Date shall have the meaning set forth in Section 3.02.
Change of Control Triggering Event, with respect to any series of Notes, shall mean the occurrence of both a Change of
Control and a Rating Event with respect to such series.
Comparable Treasury Issue shall mean the United States
Treasury security selected by the Quotation Agent as having an actual or interpolated maturity comparable to the remaining term (Remaining Life) of the Notes of a series to be redeemed that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Remaining Life of the Notes of such series.
Comparable Treasury Price shall mean, with respect to any Redemption Date, (A) the average of four Reference Treasury
Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the Company obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such
Reference Treasury Dealer Quotations or, (C) if only one such Reference Treasury Dealer Quotation is received, such Reference Treasury Dealer Quotation.
Exchange Act shall mean the Securities Exchange Act of 1934, as amended.
Global Note shall have the meaning set forth in Section 2.04.
Interest Payment Date shall mean the 2018 Notes Interest Payment Date, the 2020 Notes Interest Payment Date, the 2025 Notes
Interest Payment Date or the 2045 Notes Interest Payment Date, as applicable.
Interest Period shall have the meaning
set forth in Section 2.05(a).
Investment Grade Rating means a rating equal to or higher than Baa3 (or the
equivalent) by Moodys and BBB- (or the equivalent) by S&P; and the equivalent investment grade credit rating from any additional rating agency or rating agencies selected by the Company.
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Issue Date means September 15, 2015.
Maturity Date shall mean the 2018 Notes Maturity Date, the 2020 Notes Maturity Date, the 2025 Notes Maturity Date or the
2045 Notes Maturity Date, as applicable.
Moodys shall mean Moodys Investors Service Inc.
Person has the meaning set forth in the Base Indenture and includes a person or group as these
terms are used in Section 13(d)(3) of the Exchange Act.
Quotation Agent means the Reference Treasury Dealer
appointed by the Company.
Rating Agency shall mean (1) each of Moodys and S&P; and (2) if either
of Moodys or S&P ceases to rate the applicable series of Notes or fails to make a rating of such series of Notes publicly available for reasons outside of the Companys control, a nationally recognized statistical rating
organization within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act selected by the Company (as certified by a resolution of the Board of Directors of the Company) as a replacement agency for Moodys or S&P, or both of
them, as the case may be.
Rating Event means the rating on the applicable series of Notes is lowered by each of the
Rating Agencies and such series of Notes is rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of such series of Notes is under
publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (1) the occurrence of a Change of Control and (2) public notice of the occurrence of a Change of Control or the Companys
intention to effect a Change of Control; provided, however, that a Rating Event otherwise arising by virtue of a particular reduction in rating will not be deemed to have occurred in respect of a particular Change of Control (and thus will
not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the
Trustee in writing at the Companys or its request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not
the applicable Change of Control has occurred at the time of the Rating Event).
Redemption Date shall mean, with
respect to any redemption of any series of Notes, the date fixed for such redemption pursuant to the Indenture and such series of Notes.
Reference Treasury Dealer means (i) Citigroup Global Markets Inc. and Barclays Capital Inc. (or their respective
affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in the United States of America (a
Primary Treasury Dealer), the Company will substitute therefor another Primary Treasury Dealer, and (ii) any other Primary Treasury Dealer selected by the Company.
Reference Treasury Dealer Quotations means, with respect to each Reference Treasury Dealer and any Redemption Date,
the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30
p.m., New York City time, on the third Business Day preceding such Redemption Date.
Remaining Scheduled
Payments means, with respect to each series of Notes to be redeemed, the remaining scheduled payments of the principal thereof and interest thereon that would be due after the
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related Redemption Date but for such redemption; provided, however, that, if such Redemption Date is not an Interest Payment Date with respect to the Notes of such series, the amount
of the next succeeding scheduled interest payment thereon will be deemed to be reduced by the amount of interest accrued thereon to such Redemption Date.
S&P means Standard & Poors Rating Services, a division of The McGraw-Hill Companies, Inc.
Separation means the separation of the Company into two separate, independent companies, whether by way of dividend,
distribution, spin-off, split-off, exchange, reorganization, merger, sale and/or offering of securities or otherwise, which the Company indicated its intention to pursue in a press release issued on May 13, 2015.
Treasury Rate means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to
maturity (or interpolated yield to maturity on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price of such
Redemption Date.
Voting Stock means, with respect to any specified Person as of any date, the capital stock of such
Person that is at the time entitled to vote generally in the election of the Board of Directors or similar governing body of such Person.
The terms 2018 Notes, 2020 Notes, 2025 Notes, 2045 Notes,
Company, Trustee, Indenture, Base Indenture, and Notes shall have the respective meanings set forth in the recitals to this Supplemental Indenture and the
paragraph preceding such recitals.
ARTICLE 2
GENERAL TERMS AND CONDITIONS OF THE NOTES
Section 2.01 Designation and Principal Amount. Each series of Notes may be issued from time to time upon written order of
the Company for the authentication and delivery of such series of Notes pursuant to Section 303 of the Base Indenture. There are hereby authorized:
(a) a series of Securities designated as the 1.650% Senior Notes due 2018, limited in initial aggregate principal amount to U.S.
$500,000,000 (except upon registration of transfer of, or in exchange for, or in lieu of, other Securities pursuant to Sections 304, 305, 306, 906 or 1107 of the Base Indenture);
(b) a series of Securities designated as the 2.400% Senior Notes due 2020, limited in initial aggregate principal amount to U.S.
$500,000,000 (except upon registration of transfer of, or in exchange for, or in lieu of, other Securities pursuant to Sections 304, 305, 306, 906 or 1107 of the Base Indenture);
(c) a series of Securities designated as the 3.350% Senior Notes due 2025, limited in initial aggregate principal amount to U.S.
$500,000,000 (except upon registration of transfer of, or in exchange for, or in lieu of, other Securities pursuant to Sections 304, 305, 306, 906 or 1107 of the Base Indenture); and
(d) a series of Securities designated as the 4.375% Senior Notes due 2045, limited in initial aggregate principal amount to U.S.
$500,000,000 (except upon registration of transfer of, or in exchange for, or in lieu of, other Securities pursuant to Sections 304, 305, 306, 906 or 1107 of the Base Indenture).
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The Company may create and issue additional Notes of any series having the same terms and
conditions as such series of Notes in all respects (or in all respects except for the Issue Date, issue price and, to the extent applicable, the payment of interest accruing prior to the Issue Date of such additional Notes or the first payment of
interest following the Issue Date), so that such additional Notes of such series will be consolidated and form a single series with the initial Notes of such series.
Section 2.02 Maturity. (a) The date upon which the 2018 Notes shall become due and payable at final maturity,
together with any accrued and unpaid interest, is September 15, 2018 (the 2018 Notes Maturity Date), (b) the date upon which the 2020 Notes shall become due and payable at final maturity, together with any accrued
and unpaid interest, is September 15, 2020 (the 2020 Notes Maturity Date), (c) the date upon which the 2025 Notes shall become due and payable at final maturity, together with any accrued and unpaid interest, is
September 15, 2025 (the 2025 Notes Maturity Date), and (d) the date upon which the 2045 Notes shall become due and payable at final maturity, together with any accrued and unpaid interest, is September 15,
2045 (the 2045 Notes Maturity Date).
Section 2.03 Form, Payment and Appointment. Except as provided
in Section 2.04, each series of Notes shall be issued in fully registered, certificated form. Principal of and interest on each series of Notes will be payable, the transfer of such series of Notes will be registrable, and such series of Notes
will be exchangeable for such series of Notes of a like aggregate principal amount, at the office or agency of the Company maintained for such purpose in Chicago, Illinois, which shall initially be the principal office of the Trustee; provided,
however, that payment of interest may be made at the option of the Company by check mailed to the Person entitled thereto at such address as shall appear in the Security register or by wire transfer to an account appropriately designated by the
Person entitled to payment; provided, that the Paying Agent shall have received written notice of such account designation at least five Business Days prior to the date of such payment (subject to surrender of the relevant Note in the case of a
payment of interest on a Redemption Date or the Maturity Date).
No service charge shall be made for any registration of transfer or
exchange of any series of Notes, but the Company may require payment from the applicable Holder of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith.
The Security Registrar and Paying Agent for the Notes shall initially be the Trustee.
The Notes of each series shall be issuable in denominations of U.S. $2,000 and integral multiples of U.S. $1,000 in excess thereof.
The specified currency of the Notes shall be U.S. Dollars.
Section 2.04 Global Notes. The Notes of each series shall be issued initially in the form of a permanent Global Security in
registered form (each, a Global Note), deposited with The Depository Trust Company or such other Depositary as any officer of the Company may from time to time designate. Unless and until such Global Note is exchanged for Notes of
such series in certificated form, such Global Note may be transferred, in whole but not in part, and any payments on the Notes of such series shall be made only to the Depositary or a nominee of the Depositary, or to a successor Depositary selected
or approved by the Company or to a nominee of such successor Depositary.
Section 2.05 Interest.
(a) Interest payable on any Interest Payment Date, the Maturity Date or, if applicable, a Redemption Date, with respect to each series of Notes shall be the amount of interest accrued from, and including, the immediately preceding
Interest Payment Date in respect of which interest has been paid or duly provided for (or from and including the Issue Date if no interest has previously been paid or duly provided for with respect to such series of Notes) to, but excluding, such
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Interest Payment Date, Maturity Date or, if applicable, Redemption Date, as the case may be (each, an Interest Period). The amount of interest payable for any full semi-annual
Interest Period will be computed on the basis of a 360-day year consisting of twelve 30-day months. The amount of interest payable for any period shorter than a full semi-annual Interest Period for which interest is computed will be computed on the
basis of a 30-day month and, for any period less than a month, on the basis of the actual number of days elapsed per 30-day month.
(b)
The 2018 Notes will bear interest at the rate of 1.650% per year. Interest on the 2018 Notes shall be payable semi-annually in arrears on March 15 and September 15 of each year (each, a 2018 Notes Interest Payment
Date), commencing March 15, 2016, to the Persons in whose names the 2018 Notes are registered at the close of business on the 2018 Notes Record Date for such 2018 Notes Interest Payment Date, except as provided in Section 2.06.
(c) The 2020 Notes will bear interest at the rate of 2.400% per year. Interest on the 2020 Notes shall be payable
semi-annually in arrears on March 15 and September 15 of each year (each, a 2020 Notes Interest Payment Date), commencing March 15, 2016, to the Persons in whose names the 2020 Notes are registered at the close of
business on the 2020 Notes Record Date for such 2020 Notes Interest Payment Date, except as provided in Section 2.06.
(d) The
2025 Notes will bear interest at the rate of 3.350% per year. Interest on the 2025 Notes shall be payable semi-annually in arrears on March 15 and September 15 of each year (each, a 2025 Notes Interest Payment
Date), commencing March 15, 2016, to the Persons in whose names the 2025 Notes are registered at the close of business on the 2025 Notes Record Date for such 2025 Notes Interest Payment Date, except as provided in Section 2.06.
(e) The 2045 Notes will bear interest at the rate of 4.375% per year. Interest on the 2045 Notes shall be payable
semi-annually in arrears on March 15 and September 15 of each year (each, a 2045 Notes Interest Payment Date), commencing March 15, 2016, to the Persons in whose names the 2045 Notes are registered at the close of
business on the 2045 Notes Record Date for such 2045 Notes Interest Payment Date, except as provided in Section 2.06.
Section 2.06 In the event that any scheduled Interest Payment Date, the Maturity Date or a Redemption Date for any series of Notes
falls on a day that is not a Business Day, then the related payments of principal, premium, if any, and interest may be made on the next succeeding day that is a Business Day (and no additional interest will accrue or otherwise accumulate on the
amount payable for the period from and after such scheduled Interest Payment Date, Maturity Date or Redemption Date, as applicable). Interest due on the Maturity Date or a Redemption Date (in each case, whether or not an Interest Payment Date) of
any series of Notes will be paid to the Person to whom principal of such series of Notes is payable.
Section 2.07 No
Sinking Fund. The Notes are not entitled to the benefit of any sinking fund.
ARTICLE 3
REDEMPTION OF THE NOTES
Section 3.01 Optional Redemption by Company. (a) At any time prior to September 15, 2018, the Company
shall have the right, at its option, to redeem the 2018 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to the greater of:
(i) 100% of the principal amount of the 2018 Notes to be redeemed; and
(ii) the sum of the present values of the Remaining Scheduled Payments of principal and interest on such 2018 Notes to be redeemed (not
including any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate, plus 10
basis points, plus in each case accrued and unpaid interest thereon to, but excluding, the Redemption Date.
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(b) At any time prior to August 15, 2020, the Company shall have the right, at its
option, to redeem the 2020 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to the greater of:
(i) 100% of the principal amount of the 2020 Notes to be redeemed; and
(ii) the sum of the present values of the Remaining Scheduled Payments of principal and interest on such 2020 Notes to be redeemed (not
including any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate, plus 15
basis points, plus in each case accrued and unpaid interest thereon to, but excluding, the Redemption Date.
(c) On or after
August 15, 2020, the Company shall have the right, at its option, to redeem the 2020 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 2020 Notes to be redeemed,
plus accrued and unpaid interest thereon to, but excluding, the Redemption Date.
(d) At any time prior to June 15, 2025, the
Company shall have the right, at its option, to redeem the 2025 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to the greater of:
(i) 100% of the principal amount of the 2025 Notes to be redeemed; and
(ii) the sum of the present values of the Remaining Scheduled Payments of principal and interest on such 2025 Notes to be redeemed (not
including any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate, plus 20
basis points, plus in each case accrued and unpaid interest thereon to, but excluding, the Redemption Date.
(e) On or after
June 15, 2025, the Company shall have the right, at its option, to redeem the 2025 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 2025 Notes to be redeemed, plus
accrued and unpaid interest thereon to, but excluding, the Redemption Date.
(f) At any time prior to March 15, 2045, the
Company shall have the right, at its option, to redeem the 2045 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to the greater of:
(i) 100% of the principal amount of the 2045 Notes to be redeemed; and
(ii) the sum of the present values of the Remaining Scheduled Payments of principal and interest on such 2045 Notes to be redeemed (not
including any portion of such payments of interest
8
accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate, plus 25
basis points, plus in each case accrued and unpaid interest thereon to, but excluding, the Redemption Date.
(g) On or after
March 15, 2045, the Company shall have the right, at its option, to redeem the 2045 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 2045 Notes to be redeemed,
plus accrued and unpaid interest thereon to, but excluding, the Redemption Date.
(h) Notwithstanding the foregoing, installments
of interest on any series of Notes to be redeemed that are due and payable on Interest Payment Dates falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the registered Holders of the Notes of such series as of
the close of business on the corresponding Regular Record Date.
The Company will cause the notice of any redemption to be mailed (or sent
electronically in accordance with applicable Depositary procedures) to the registered Holders of the applicable series of Notes to be redeemed not less than 30 nor more than 60 days prior to the Redemption Date. If a series of Notes to be redeemed
is only partially redeemed pursuant to this Section 3.01, such series of Notes to be redeemed will be selected by the Trustee in such manner as in its sole discretion it shall deem appropriate and fair in accordance with applicable Depositary
procedures. The price for any redemption pursuant to this Section 3.01 shall be paid prior to 12:00 noon, New York City time, on the applicable Redemption Date or at such later time as is then permitted by the rules of the Depositary applicable
to the applicable series of Notes (if then registered as Global Notes); provided, that the Company shall deposit with the Trustee or the Paying Agent an amount sufficient to pay the applicable redemption price by 10:00 a.m., New York City
time, on the date such redemption price is to be paid.
If money sufficient to pay the redemption price of all of the Notes of a series
(or portions thereof) to be redeemed on the applicable Redemption Date is deposited with the Trustee or the Paying Agent on or before such Redemption Date as provided herein, then on and after such Redemption Date, interest will cease to accrue on
such Notes of such series (or such portion thereof) called for redemption.
Section 3.02 Change of Control Triggering
Event. If a Change of Control Triggering Event occurs, unless, with respect to any series of Notes, the Company has exercised its right to redeem such series of Notes as described in Section 3.01, Holders of each series of Notes will have
the right to require the Company to repurchase all or any part (equal to U.S. $2,000 or an integral multiple of U.S. $1,000 in excess thereof) of their Notes pursuant to the offer described below (the Change of Control Offer) on
the terms set forth in the Notes. In the Change of Control Offer, the Company will be required to offer payment in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes
repurchased to the date of purchase (the Change of Control Payment). Within 30 days following any Change of Control Triggering Event, or, at the Companys option, prior to the date of the consummation of any Change of
Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, the Company will be required to mail a notice to Holders of each applicable series of Notes, with a copy to the Trustee, describing
the transaction or transactions that constitute or may constitute the Change of Control Triggering Event and offering to repurchase such applicable series of Notes on the date specified in the notice, which date will be no earlier than 30 days and
no later than 60 days from the date such notice is mailed (the Change of Control Payment Date), pursuant to the procedures required by the Notes and described in such notice. The notice shall, if mailed prior to the date of the
consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date. The Company must comply with the requirements of Rule 14e-1
under
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the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a
Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Triggering Event provisions of the Notes, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under this Section 3.02 or the Change of Control Triggering Event provisions of the Notes by virtue of such conflicts.
On the Change of Control Payment Date, the Company will be required, to the extent lawful, to:
(i) accept for payment all Notes of each applicable series, or portions of such Notes, properly tendered pursuant to the Change of Control
Offer;
(ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes of each applicable
series, or portions of such Notes, properly tendered; and
(iii) deliver or cause to be delivered to the Trustee the Notes of each
applicable series properly accepted together with an Officers Certificate stating the aggregate principal amount of such Notes or portions of Notes being repurchased.
The Paying Agent will promptly pay to each Holder of Notes of each applicable series properly tendered the Change of Control Payment for such Notes, and the
Trustee will promptly authenticate (or cause to be transferred by book-entry) a new Note of such series equal in principal amount to any unpurchased portion of any Notes of such series surrendered; provided that each new Note will be in a
principal amount of U.S. $2,000 or an integral multiple of U.S. $1,000 in excess thereof. The Company will not be required to make an offer to repurchase Notes of any series upon a Change of Control Triggering Event if a third party makes such an
offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes of each such series properly tendered and not withdrawn under its offer. In addition, the
Company will not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture, other than a default in the payment of the Change of Control Payment upon a Change of
Control Triggering Event.
ARTICLE 4
FORM OF NOTES
Section 4.01 Form of Notes. (a) The 2018 Notes and the Trustees Certificate of Authentication to be
endorsed thereon are to be substantially in the forms attached as Exhibit A hereto, (b) the 2020 Notes and the Trustees Certificate of Authentication to be endorsed thereon are to be substantially in the forms attached as
Exhibit B hereto, (c) the 2025 Notes and the Trustees Certificate of Authentication to be endorsed thereon are to be substantially in the forms attached as Exhibit C hereto and (d) the 2045 Notes and the
Trustees Certificate of Authentication to be endorsed thereon are to be substantially in the forms attached as Exhibit D hereto, in each case with such changes therein as the officers of the Company executing the Notes (by manual or
facsimile signature) may approve, such approval to be conclusively evidenced by their execution thereof.
ARTICLE 5
ORIGINAL ISSUE OF NOTES
Section 5.01 Original Issue of Notes. (a) 2018 Notes having an initial aggregate principal amount of U.S.
$500,000,000 may from time to time, upon execution of this Supplemental Indenture, be
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executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said 2018 Notes to or upon the written order of the Company
pursuant to Section 303 of the Base Indenture without any further action by the Company (other than as required by the Base Indenture).
(b) 2020 Notes having an initial aggregate principal amount of U.S. $500,000,000 may from time to time, upon execution of this
Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said 2020 Notes to or upon the written order of the Company pursuant to Section 303 of
the Base Indenture without any further action by the Company (other than as required by the Base Indenture).
(c) 2025 Notes
having an initial aggregate principal amount of U.S. $500,000,000 may from time to time, upon execution of this Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon
authenticate and deliver said 2025 Notes to or upon the written order of the Company pursuant to Section 303 of the Base Indenture without any further action by the Company (other than as required by the Base Indenture).
(d) 2045 Notes having an initial aggregate principal amount of U.S. $500,000,000 may from time to time, upon execution of this
Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said 2045 Notes to or upon the written order of the Company pursuant to Section 303 of
the Base Indenture without any further action by the Company (other than as required by the Base Indenture).
ARTICLE 6
PARTICULAR COVENANTS OF THE COMPANY
In addition to the covenants set forth in Article 10 of the Base Indenture, the Notes shall include the following additional covenants,
and such additional covenants shall be subject to covenant defeasance pursuant to Section 1303 of the Base Indenture.
Section 6.01 Further Instruments and Acts. The Company shall execute and deliver to the Trustee such further instruments
and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of the Indenture.
Section 6.02 Additional Provisions.
(a) The restrictions set forth in Section 1010 of the Base Indenture shall not apply to, in addition to those exceptions set forth
in clauses (i) through (xi) of such Section 1010, debt secured by any security interests on any property, assets or equity or other ownership interests created to secure indebtedness incurred by the Company or any of its Subsidiaries
in connection with the Separation (provided that this clause (a) shall cease to apply to any such security interests to the extent (1) the Separation has not been consummated within 180 days of the creation of such security interests or
(2) such security interests continue to encumber property, assets or equity or other ownership interests of the Company or any of its Subsidiaries as of a date which is 30 days after the consummation of the Separation), or any extension,
renewal or replacements (or successive extensions, renewals or replacements), in whole or in part, of any such security interests.
(b) Clause (a) of Section 1011 of the Base Indenture shall be deemed to include reference to Section 6.02(a) of this
Supplemental Indenture in addition to the reference to clauses (i) through (xi) of Section 1010 of the Base Indenture.
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ARTICLE 7
SUPPLEMENTAL INDENTURES
Section 7.01 Supplemental Indentures with Consent of Holders of Notes. As set forth in Section 902 of the Base
Indenture, with the consent of the Holders of a majority in the aggregate principal amount of Securities of each series affected by such supplemental indenture at the time Outstanding, the Company and the Trustee may from time to time and at any
time enter into an indenture or indentures supplemental to the Base Indenture for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Base Indenture or this Supplemental Indenture or of
modifying in any manner the rights of the Holders of the Securities.
Section 7.02 Additional Provisions. In addition
to the provisions set forth in Section 901 of the Base Indenture, without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures
supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes:
(a) to conform the Indenture this
Supplemental Indenture to the description of the Notes set forth in the Companys prospectus supplement, dated September 10, 2015, and the accompanying prospectus, dated June 15, 2015; and
(b) to evidence and provide for the acceptance of appointment by a successor or separate trustee with respect to the Notes and to add
to or change any of the provisions of the Indenture as necessary to provide for the administration of the Indenture by more than one trustee.
ARTICLE 8
THE TRUSTEE
Section 8.01 Ratification of Indenture. In addition to the provisions set forth in Section 603 of the Base Indenture,
subject to the provisions of Section 601 of the Base Indenture:
(a) in no event shall the Trustee be responsible or liable
for any failure or delay in the performance of its obligations under the Indenture arising out of or caused by forces beyond its reasonable control, including strikes, work stoppages, accidents, acts of war or terrorism, civil or military
disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software or hardware) services; it being understood that the Trustee shall use reasonable efforts which
are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances; and
(b) notwithstanding anything to the contrary contained in the Indenture (as amended or supplemented), the Company, the Trustee and any
Paying Agent may, to the extent it is required to do so by law, deduct or withhold income or other similar taxes imposed from principal or interest payments hereunder. The Company, the Trustee and any Paying Agent shall reasonably cooperate with
each other and shall provide each other with copies of documents or information reasonably necessary for each of the Company, the Trustee and any such Paying Agent to comply with any withholding tax or tax information reporting obligations imposed
on any of them, including any obligations imposed pursuant to an agreement with a governmental authority.
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ARTICLE 9
MISCELLANEOUS
Section 9.01 Ratification of Indenture. The Base Indenture, as supplemented by this Supplemental Indenture, is in all
respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Base Indenture in the manner and to the extent herein and therein provided.
Section 9.02 Trustee Not Responsible for Recitals. The recitals herein contained are made by the Company and not by the
Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture.
Section 9.03 New York Law To Govern. THIS SUPPLEMENTAL INDENTURE AND EACH NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER
THE LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF SAID STATE.
Section 9.04 Waiver of Jury Trial. EACH OF THE ISSUER, THE HOLDERS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THE INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY.
Section 9.05 Separability. In case any one or more of the provisions contained in this Supplemental Indenture or in any
series of Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, then, to the extent permitted by law, such invalidity, illegality or unenforceability shall not affect any other provisions of this Supplemental
Indenture or of such series of Notes, but this Supplemental Indenture and such series of Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein.
Section 9.06 Counterparts. This Supplemental Indenture may be executed in any number of counterparts each of which shall be
an original, but such counterparts shall together constitute but one and the same instrument.
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IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed, as of the day and year first written above.
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DANAHER CORPORATION |
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THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
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EXHIBIT A
[IF THIS NOTE IS TO BE A GLOBAL SECURITY, INSERT:]
THIS NOTE
IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (DTC), OR A NOMINEE OF DTC. THIS NOTE IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN DTC OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR ANOTHER
NOMINEE OF DTC.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
DANAHER CORPORATION
1.650%
Senior Note due 2018
CUSIP: 235851 AN2
Danaher Corporation, a corporation duly organized and existing under the laws of Delaware (herein called the Company, which
term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to ,
or registered assigns, the principal sum set forth in the Schedule of Increases or Decreases in Note attached hereto on September 15, 2018, and to pay interest thereon from September 15, 2015 or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, semi-annually on March 15 and September 15 in each year, commencing March 15, 2016 at the rate of 1.650% per annum, until the principal hereof is paid or made available for
payment. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in
whose name this Note (or one or more predecessor Notes) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 1 or September 1 (whether or not a Business Day), as the case may be,
next preceding such Interest Payment Date, except as provided in Section 2.06 of the Supplemental Indenture. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes
of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.
A-1
Payment of the principal of (and premium, if any) and interest on this Note will be made at the
office or agency of the Company maintained for that purpose in Chicago, Illinois, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at
the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer to an account maintained by the Person entitled thereto
as specified in the Security Register.
Reference is hereby made to the further provisions of this Note set forth on the reverse hereof,
which further provisions shall for all purposes have the same effect as if set forth at this place.
Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.
A-2
IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.
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A-3
TRUSTEES CERTIFICATE OF AUTHENTICATION
This is one of the Notes of the series designated therein described in the within-mentioned Indenture.
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THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., |
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A-4
REVERSE OF NOTE
This Note is one of a duly authorized issue of Securities of the Company (herein called the Notes), issued and to be issued
in one or more series under a Base Indenture, dated as of December 11, 2007 (herein called the Base Indenture, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York
Mellon Trust Company, N.A., as Trustee (herein called the Trustee, which term includes any successor trustee under the Indenture), as amended and supplemented by the Supplemental Indenture, dated as of September 15, 2015
(herein called the Supplemental Indenture, which term shall have the meaning assigned to it in such instrument, and together with the Base Indenture, herein called the Indenture) and reference is hereby made to
the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be authenticated and
delivered. This Note is one of the series designated on the face hereof initially limited in aggregate principal amount to U.S. $500,000,000. The Notes are unsecured general obligations of the Company.
1. Optional Redemption
At any time prior to September 15, 2018, the Company shall have the right, at its option, to redeem the Notes, in whole or in part, at any
time and from time to time, at a redemption price equal to the greater of:
(i) 100% of the principal amount of the Notes to be redeemed;
and
(ii) the sum of the present values of the Remaining Scheduled Payments of principal and interest on such Notes to be redeemed (not
including any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 10 basis points,
plus in each case accrued and unpaid interest thereon to, but excluding, the Redemption Date.
Notwithstanding the foregoing, installments
of interest on Notes that are due and payable on Interest Payment Dates falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the registered Holders as of the close of business on the corresponding Regular Record
Date.
The Company will cause the notice of any redemption to be mailed (or sent electronically in accordance with applicable Depositary
procedures) to the registered Holders of the Notes to be redeemed not less than 30 nor more than 60 days prior to the Redemption Date. If the Notes are only partially redeemed pursuant to Section 3.01 of the Supplemental Indenture, the Notes to
be redeemed will be selected by the Trustee in such manner as in its sole discretion it shall deem appropriate and fair in accordance with applicable Depositary procedures. The price for any redemption pursuant to Section 3.01 of the
Supplemental Indenture shall be paid prior to 12:00 noon, New York City time, on the applicable Redemption Date or at such later time as is then permitted by the rules of the Depositary applicable to the Notes (if then registered as Global Notes);
provided, that the Company shall deposit with the Trustee or the Paying Agent an amount sufficient to pay the applicable redemption price by 10:00 a.m., New York City time, on the date such redemption price is to be paid.
If money sufficient to pay the redemption price of all of the Notes (or portions thereof) to be redeemed on the applicable Redemption Date is
deposited with the Trustee or the Paying Agent on or before such Redemption Date as provided herein and in the Indenture, then on and after such Redemption Date, interest will cease to accrue on such Notes (or such portion thereof) called for
redemption.
In the event of redemption of this Note in part only, a new Note or Notes of this series for the unredeemed portion hereof
shall be issued in the name of the Holder hereof upon the cancellation hereof.
A-5
2. No Other Redemption
Except as set forth in Section 1 of this Note and in Article 3 of the Supplemental Indenture, the Company may not redeem the Notes of this
series at its option prior to the Maturity Date.
3. Change of Control Trigger Event
If a Change of Control Triggering Event occurs, unless the Company has exercised its right to redeem the Notes of this series as described in
Section 3.01 of the Supplemental Indenture, Holders of Notes of this series will have the right to require the Company to repurchase all or any part (equal to U.S. $2,000 or an integral multiple of U.S. $1,000 in excess thereof) of their
Notes pursuant to the offer described below (the Change of Control Offer) on the terms set forth herein. In the Change of Control Offer, the Company will be required to offer payment in cash equal to 101% of the aggregate
principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to the date of purchase (the Change of Control Payment). Within 30 days following any Change of Control Triggering Event, or,
at the Companys option, prior to the date of the consummation of any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, the Company will be required to mail a notice to
Holders of the Notes, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which
date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the Change of Control Payment Date), pursuant to the procedures required by the Indenture and described in such notice. The notice
shall, if mailed prior to the date of the consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date. The Company must
comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change
of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Triggering Event provisions of the Notes, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under Section 3.02 of the Supplemental Indenture or this Section 2 of this Note by virtue of such conflicts.
On the Change of Control Payment Date, the Company will be required, to the extent lawful, to:
(i) accept for payment all Notes, or portions of Notes, properly tendered pursuant to the Change of Control Offer;
(ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes, or portions of Notes, properly
tendered; and
(iii) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers
Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased.
The Paying Agent will promptly pay to
each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate (or cause to be transferred by book-entry) a new Note equal in principal amount to any unpurchased portion of any Notes
surrendered; provided that each new Note will be in a principal amount of U.S. $2,000 or an integral multiple of U.S. $1,000 in excess thereof. The Company will not be required to make an offer to repurchase the Notes upon a Change of
Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn
under its offer. In addition, the Company will not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture, other than a default in the payment of the Change of
Control Payment upon a Change of Control Triggering Event.
A-6
4. No Sinking Fund
The Notes of this series are not entitled to the benefit of any sinking fund.
5. Defeasance and Discharge
The Indenture contains provisions for defeasance and discharge and for defeasance at any time of certain restrictive covenants and Events of
Default with respect to this Note upon compliance with certain conditions set forth in the Indenture.
6. Events of Default
If an Event of Default with respect to Notes of this Series shall occur and be continuing, the principal of the Notes of this series may be
declared due and payable in the manner and with the effect provided in the Indenture.
7. Modification and Waiver
The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of
the Company and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Notes at the time
Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of each series at the time Outstanding, on behalf of the Holders of all Notes of such
series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such
Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. Without notice to or
consent of any Holder, the parties thereto may amend or supplement the Indenture and the Notes to, among other things, cure any ambiguity, defect or inconsistency, or make any other change that does not adversely affect the rights of any Holder of a
Note.
8. Remedies
As provided in and subject to the provisions of the Indenture, the Holder of this Note shall not have the right to institute any proceeding
with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Notes of
this series, the Holders of not less than 25% in principal amount of the Notes of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Notes of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to
institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Note for the enforcement of any payment of principal hereof or any
premium or interest hereon on or after the respective due dates expressed herein.
No reference herein to the Indenture and no provision
of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency,
herein prescribed.
9. Transfer and Exchange
As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Security
Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form
A-7
satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of
like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.
The Notes of this series are issuable only in registered form without coupons in denominations of U.S. $2,000 or an integral multiple of
U.S. $1,000 thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series are exchangeable for a like aggregate principal amount of Notes of this series and of like tenor of a different authorized
denomination, as requested by the Holder surrendering the same.
No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.
Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may
treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and none of the Company, the Trustee nor any such agent shall be affected by notice to the contrary.
10. Governing Laws
THIS
NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF SAID STATE.
11. Defined Terms
All
terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.
A-8
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to:
(Insert assignees social security or tax
identification number)
(Insert address and zip code of assignee)
and irrevocably appoints
agent to transfer this Note on the books of the
Company. The agent may substitute another to act for him or her.
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Signature Guarantee: |
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(Sign exactly as your name appears on the other side of this Note)
A-9
SIGNATURE GUARANTEE
Signatures must be guaranteed by an eligible guarantor institution meeting the requirements of the Security Registrar, which requirements include
membership or participation in the Security Transfer Agent Medallion Program (STAMP) or such other signature guarantee program as may be determined by the Security Registrar in addition to, or in substitution for,
STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.
A-10
SCHEDULE OF INCREASES OR DECREASES IN NOTE
The initial principal amount of this Note is U.S. $[●]. The following increases or decreases in the principal amount of this Note have been made:
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Signature of authorized officer or Trustee |
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A-11
EXHIBIT B
[IF THIS NOTE IS TO BE A GLOBAL SECURITY, INSERT:]
THIS NOTE
IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (DTC), OR A NOMINEE OF DTC. THIS NOTE IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN DTC OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR ANOTHER
NOMINEE OF DTC.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
DANAHER CORPORATION
2.400%
Senior Note due 2020
CUSIP: 235851 AP7
Danaher Corporation, a corporation duly organized and existing under the laws of Delaware (herein called the Company, which
term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to ,
or registered assigns, the principal sum set forth in the Schedule of Increases or Decreases in Note attached hereto on September 15, 2020, and to pay interest thereon from September 15, 2015 or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, semi-annually on March 15 and September 15 in each year, commencing March 15, 2016 at the rate of 2.400% per annum, until the principal hereof is paid or made available for
payment. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in
whose name this Note (or one or more predecessor Notes) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 1 or September 1 (whether or not a Business Day), as the case may be,
next preceding such Interest Payment Date, except as provided in Section 2.06 of the Supplemental Indenture. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes
of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.
B-1
Payment of the principal of (and premium, if any) and interest on this Note will be made at the
office or agency of the Company maintained for that purpose in Chicago, Illinois, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at
the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer to an account maintained by the Person entitled thereto
as specified in the Security Register.
Reference is hereby made to the further provisions of this Note set forth on the reverse hereof,
which further provisions shall for all purposes have the same effect as if set forth at this place.
Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.
B-2
IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.
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Dated: |
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DANAHER CORPORATION |
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B-3
TRUSTEES CERTIFICATE OF AUTHENTICATION
This is one of the Notes of the series designated therein described in the within-mentioned Indenture.
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THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
as Trustee |
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Authorized Officer |
B-4
REVERSE OF NOTE
This Note is one of a duly authorized issue of Securities of the Company (herein called the Notes), issued and to be issued
in one or more series under a Base Indenture, dated as of December 11, 2007 (herein called the Base Indenture, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York
Mellon Trust Company, N.A., as Trustee (herein called the Trustee, which term includes any successor trustee under the Indenture), as amended and supplemented by the Supplemental Indenture, dated as of September 15, 2015
(herein called the Supplemental Indenture, which term shall have the meaning assigned to it in such instrument, and together with the Base Indenture, herein called the Indenture) and reference is hereby made to
the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be authenticated and
delivered. This Note is one of the series designated on the face hereof initially limited in aggregate principal amount to U.S. $500,000,000. The Notes are unsecured general obligations of the Company.
1. Optional Redemption
At any time prior to August 15, 2020, the Company shall have the right, at its option, to redeem the Notes, in whole or in part, at any
time and from time to time, at a redemption price equal to the greater of:
(i) 100% of the principal amount of the Notes to be redeemed;
and
(ii) the sum of the present values of the Remaining Scheduled Payments of principal and interest on such Notes to be redeemed (not
including any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 15 basis points,
plus in each case accrued and unpaid interest thereon to, but excluding, the Redemption Date.
On or after August 15, 2020, the
Company shall have the right, at its option, to redeem the Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest
thereon to, but excluding, the Redemption Date.
Notwithstanding the foregoing, installments of interest on Notes that are due and payable
on Interest Payment Dates falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the registered Holders as of the close of business on the corresponding Regular Record Date.
The Company will cause the notice of any redemption to be mailed (or sent electronically in accordance with applicable Depositary procedures)
to the registered Holders of the Notes to be redeemed not less than 30 nor more than 60 days prior to the Redemption Date. If the Notes are only partially redeemed pursuant to Section 3.01 of the Supplemental Indenture, the Notes to be redeemed
will be selected by the Trustee in such manner as in its sole discretion it shall deem appropriate and fair in accordance with applicable Depositary procedures. The price for any redemption pursuant to Section 3.01 of the Supplemental Indenture
shall be paid prior to 12:00 noon, New York City time, on the applicable Redemption Date or at such later time as is then permitted by the rules of the Depositary applicable to the Notes (if then registered as Global Notes); provided, that
the Company shall deposit with the Trustee or the Paying Agent an amount sufficient to pay the applicable redemption price by 10:00 a.m., New York City time, on the date such redemption price is to be paid.
If money sufficient to pay the redemption price of all of the Notes (or portions thereof) to be redeemed on the applicable Redemption Date is
deposited with the Trustee or the Paying Agent on or before such Redemption Date as provided herein and in the Indenture, then on and after such Redemption Date, interest will cease to accrue on such Notes (or such portion thereof) called for
redemption.
B-5
In the event of redemption of this Note in part only, a new Note or Notes of this series for the
unredeemed portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof.
2. No Other Redemption
Except as set forth in Section 1 of this Note and in Article 3 of the Supplemental Indenture, the Company may not redeem the
Notes of this series at its option prior to the Maturity Date.
3. Change of Control Trigger Event
If a Change of Control Triggering Event occurs, unless the Company has exercised its right to redeem the Notes of this series as described in
Section 3.01 of the Supplemental Indenture, Holders of Notes of this series will have the right to require the Company to repurchase all or any part (equal to U.S. $2,000 or an integral multiple of U.S. $1,000 in excess thereof) of their
Notes pursuant to the offer described below (the Change of Control Offer) on the terms set forth herein. In the Change of Control Offer, the Company will be required to offer payment in cash equal to 101% of the aggregate
principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to the date of purchase (the Change of Control Payment). Within 30 days following any Change of Control Triggering Event, or,
at the Companys option, prior to the date of the consummation of any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, the Company will be required to mail a notice to
Holders of the Notes, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which
date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the Change of Control Payment Date), pursuant to the procedures required by the Indenture and described in such notice. The notice
shall, if mailed prior to the date of the consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date. The Company must
comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change
of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Triggering Event provisions of the Notes, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under Section 3.02 of the Supplemental Indenture or this Section 2 of this Note by virtue of such conflicts.
On the Change of Control Payment Date, the Company will be required, to the extent lawful, to:
(i) accept for payment all Notes, or portions of Notes, properly tendered pursuant to the Change of Control Offer;
(ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes, or portions of Notes, properly
tendered; and
(iii) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers
Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased.
The Paying Agent will promptly pay to
each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate (or cause to be transferred by book-entry) a new Note equal in principal amount to any unpurchased portion of any Notes
surrendered; provided that each new Note will be in a principal amount of U.S. $2,000 or an integral multiple of U.S. $1,000 in excess thereof. The Company will not be required to make an offer to repurchase the Notes upon a Change of
Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn
under its offer. In addition, the
B-6
Company will not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture, other than a default in the payment of
the Change of Control Payment upon a Change of Control Triggering Event.
4. No Sinking Fund
The Notes of this series are not entitled to the benefit of any sinking fund.
5. Defeasance and Discharge
The Indenture contains provisions for defeasance and discharge and for defeasance at any time of certain restrictive covenants and Events of
Default with respect to this Note upon compliance with certain conditions set forth in the Indenture.
6. Events of Default
If an Event of Default with respect to Notes of this Series shall occur and be continuing, the principal of the Notes of this series may be
declared due and payable in the manner and with the effect provided in the Indenture.
7. Modification and Waiver
The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of
the Company and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Notes at the time
Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of each series at the time Outstanding, on behalf of the Holders of all Notes of such
series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such
Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. Without notice to or
consent of any Holder, the parties thereto may amend or supplement the Indenture and the Notes to, among other things, cure any ambiguity, defect or inconsistency, or make any other change that does not adversely affect the rights of any Holder of a
Note.
8. Remedies
As provided in and subject to the provisions of the Indenture, the Holder of this Note shall not have the right to institute any proceeding
with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Notes of
this series, the Holders of not less than 25% in principal amount of the Notes of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Notes of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to
institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Note for the enforcement of any payment of principal hereof or any
premium or interest hereon on or after the respective due dates expressed herein.
No reference herein to the Indenture and no provision
of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency,
herein prescribed.
B-7
9. Transfer and Exchange
As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Security
Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.
The Notes of this
series are issuable only in registered form without coupons in denominations of U.S. $2,000 or an integral multiple of U.S. $1,000 thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series
are exchangeable for a like aggregate principal amount of Notes of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same.
No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith.
Prior to due presentment of this Note for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and none of the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
10. Governing Laws
THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF SAID STATE.
11. Defined Terms
All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.
B-8
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to:
(Insert assignees social security or tax
identification number)
(Insert address and zip code of assignee)
and irrevocably appoints
agent to transfer this Note on the books of the
Company. The agent may substitute another to act for him or her.
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Signature Guarantee: |
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(Sign exactly as your name appears on the other side of this Note)
B-9
SIGNATURE GUARANTEE
Signatures must be guaranteed by an eligible guarantor institution meeting the requirements of the Security Registrar, which requirements include
membership or participation in the Security Transfer Agent Medallion Program (STAMP) or such other signature guarantee program as may be determined by the Security Registrar in addition to, or in substitution for,
STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.
B-10
SCHEDULE OF INCREASES OR DECREASES IN NOTE
The initial principal amount of this Note is U.S. $[●]. The following increases or decreases in the principal amount of this Note have been made:
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Principal amount of this Note following such decrease or increase |
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Signature of authorized officer or Trustee |
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B-11
EXHIBIT C
[IF THIS NOTE IS TO BE A GLOBAL SECURITY, INSERT:]
THIS NOTE
IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (DTC), OR A NOMINEE OF DTC. THIS NOTE IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN DTC OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR ANOTHER
NOMINEE OF DTC.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
DANAHER CORPORATION
3.350%
Senior Note due 2025
CUSIP: 235851 AQ5
Danaher Corporation, a corporation duly organized and existing under the laws of Delaware (herein called the Company, which
term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to ,
or registered assigns, the principal sum set forth in the Schedule of Increases or Decreases in Note attached hereto on September 15, 2025, and to pay interest thereon from September 15, 2015 or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, semi-annually on March 15 and September 15 in each year, commencing March 15, 2016 at the rate of 3.350% per annum, until the principal hereof is paid or made available for
payment. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in
whose name this Note (or one or more predecessor Notes) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 1 or September 1 (whether or not a Business Day), as the case may be,
next preceding such Interest Payment Date, except as provided in Section 2.06 of the Supplemental Indenture. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes
of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.
C-1
Payment of the principal of (and premium, if any) and interest on this Note will be made at the
office or agency of the Company maintained for that purpose in Chicago, Illinois, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at
the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer to an account maintained by the Person entitled thereto
as specified in the Security Register.
Reference is hereby made to the further provisions of this Note set forth on the reverse hereof,
which further provisions shall for all purposes have the same effect as if set forth at this place.
Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.
C-2
IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.
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DANAHER CORPORATION |
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C-3
TRUSTEES CERTIFICATE OF AUTHENTICATION
This is one of the Notes of the series designated therein described in the within-mentioned Indenture.
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THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., |
as Trustee |
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Authorized Officer |
C-4
REVERSE OF NOTE
This Note is one of a duly authorized issue of Securities of the Company (herein called the Notes), issued and to be issued
in one or more series under a Base Indenture, dated as of December 11, 2007 (herein called the Base Indenture, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York
Mellon Trust Company, N.A., as Trustee (herein called the Trustee, which term includes any successor trustee under the Indenture), as amended and supplemented by the Supplemental Indenture, dated as of September 15, 2015
(herein called the Supplemental Indenture, which term shall have the meaning assigned to it in such instrument, and together with the Base Indenture, herein called the Indenture) and reference is hereby made to
the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be authenticated and
delivered. This Note is one of the series designated on the face hereof initially limited in aggregate principal amount to U.S. $500,000,000. The Notes are unsecured general obligations of the Company.
1. Optional Redemption
At any time prior to June 15, 2025, the Company shall have the right, at its option, to redeem the Notes, in whole or in part, at any time
and from time to time, at a redemption price equal to the greater of:
(i) 100% of the principal amount of the Notes to be redeemed; and
(ii) the sum of the present values of the Remaining Scheduled Payments of principal and interest on such Notes to be redeemed (not
including any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 20 basis points,
plus in each case accrued and unpaid interest thereon to, but excluding, the Redemption Date.
On or after June 15, 2025, the Company
shall have the right, at its option, to redeem the Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to,
but excluding, the Redemption Date.
Notwithstanding the foregoing, installments of interest on Notes that are due and payable on Interest
Payment Dates falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the registered Holders as of the close of business on the corresponding Regular Record Date.
The Company will cause the notice of any redemption to be mailed (or sent electronically in accordance with applicable Depositary procedures)
to the registered Holders of the Notes to be redeemed not less than 30 nor more than 60 days prior to the Redemption Date. If the Notes are only partially redeemed pursuant to Section 3.01 of the Supplemental Indenture, the Notes to be redeemed
will be selected by the Trustee in such manner as in its sole discretion it shall deem appropriate and fair in accordance with applicable Depositary procedures. The price for any redemption pursuant to Section 3.01 of the Supplemental Indenture
shall be paid prior to 12:00 noon, New York City time, on the applicable Redemption Date or at such later time as is then permitted by the rules of the Depositary applicable to the Notes (if then registered as Global Notes); provided, that
the Company shall deposit with the Trustee or the Paying Agent an amount sufficient to pay the applicable redemption price by 10:00 a.m., New York City time, on the date such redemption price is to be paid.
If money sufficient to pay the redemption price of all of the Notes (or portions thereof) to be redeemed on the applicable Redemption Date is
deposited with the Trustee or the Paying Agent on or before such Redemption Date as provided herein and in the Indenture, then on and after such Redemption Date, interest will cease to accrue on such Notes (or such portion thereof) called for
redemption.
C-5
In the event of redemption of this Note in part only, a new Note or Notes of this series for the
unredeemed portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof.
2. No Other Redemption
Except as set forth in Section 1 of this Note and in Article 3 of the Supplemental Indenture, the Company may not redeem the
Notes of this series at its option prior to the Maturity Date.
3. Change of Control Trigger Event
If a Change of Control Triggering Event occurs, unless the Company has exercised its right to redeem the Notes of this series as described in
Section 3.01 of the Supplemental Indenture, Holders of Notes of this series will have the right to require the Company to repurchase all or any part (equal to U.S. $2,000 or an integral multiple of U.S. $1,000 in excess thereof) of their
Notes pursuant to the offer described below (the Change of Control Offer) on the terms set forth herein. In the Change of Control Offer, the Company will be required to offer payment in cash equal to 101% of the aggregate
principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to the date of purchase (the Change of Control Payment). Within 30 days following any Change of Control Triggering Event, or,
at the Companys option, prior to the date of the consummation of any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, the Company will be required to mail a notice to
Holders of the Notes, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which
date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the Change of Control Payment Date), pursuant to the procedures required by the Indenture and described in such notice. The notice
shall, if mailed prior to the date of the consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date. The Company must
comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change
of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Triggering Event provisions of the Notes, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under Section 3.02 of the Supplemental Indenture or this Section 2 of this Note by virtue of such conflicts.
On the Change of Control Payment Date, the Company will be required, to the extent lawful, to:
(i) accept for payment all Notes, or portions of Notes, properly tendered pursuant to the Change of Control Offer;
(ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes, or portions of Notes, properly
tendered; and
(iii) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers
Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased.
The Paying Agent will promptly pay to
each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate (or cause to be transferred by book-entry) a new Note equal in principal amount to any unpurchased portion of any Notes
surrendered; provided that each new Note will be in a principal amount of U.S. $2,000 or an integral multiple of U.S. $1,000 in excess thereof. The Company will not be required to make an offer to repurchase the Notes upon a Change of
Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn
under its offer. In addition, the
C-6
Company will not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture, other than a default in the payment of
the Change of Control Payment upon a Change of Control Triggering Event.
4. No Sinking Fund
The Notes of this series are not entitled to the benefit of any sinking fund.
5. Defeasance and Discharge
The Indenture contains provisions for defeasance and discharge and for defeasance at any time of certain restrictive covenants and Events of
Default with respect to this Note upon compliance with certain conditions set forth in the Indenture.
6. Events of Default
If an Event of Default with respect to Notes of this Series shall occur and be continuing, the principal of the Notes of this series may be
declared due and payable in the manner and with the effect provided in the Indenture.
7. Modification and Waiver
The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of
the Company and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Notes at the time
Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of each series at the time Outstanding, on behalf of the Holders of all Notes of such
series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such
Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. Without notice to or
consent of any Holder, the parties thereto may amend or supplement the Indenture and the Notes to, among other things, cure any ambiguity, defect or inconsistency, or make any other change that does not adversely affect the rights of any Holder of a
Note.
8. Remedies
As provided in and subject to the provisions of the Indenture, the Holder of this Note shall not have the right to institute any proceeding
with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Notes of
this series, the Holders of not less than 25% in principal amount of the Notes of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Notes of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to
institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Note for the enforcement of any payment of principal hereof or any
premium or interest hereon on or after the respective due dates expressed herein.
No reference herein to the Indenture and no provision
of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency,
herein prescribed.
C-7
9. Transfer and Exchange
As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Security
Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.
The Notes of this
series are issuable only in registered form without coupons in denominations of U.S. $2,000 or an integral multiple of U.S. $1,000 thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series
are exchangeable for a like aggregate principal amount of Notes of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same.
No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith.
Prior to due presentment of this Note for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and none of the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
10. Governing Laws
THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF SAID STATE.
11. Defined Terms
All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.
C-8
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to:
(Insert assignees social security or tax
identification number)
(Insert address and zip code of assignee)
and irrevocably appoints
agent to transfer this Note on the books of the
Company. The agent may substitute another to act for him or her.
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Signature: |
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Signature Guarantee: |
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(Sign exactly as your name appears on the other side of this Note)
C-9
SIGNATURE GUARANTEE
Signatures must be guaranteed by an eligible guarantor institution meeting the requirements of the Security Registrar, which requirements include
membership or participation in the Security Transfer Agent Medallion Program (STAMP) or such other signature guarantee program as may be determined by the Security Registrar in addition to, or in substitution for,
STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.
C-10
SCHEDULE OF INCREASES OR DECREASES IN NOTE
The initial principal amount of this Note is U.S. $[●]. The following increases or decreases in the principal amount of this Note have been made:
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Amount of increase in principal amount of this Note |
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Principal amount of this Note following such decrease or increase |
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Signature of authorized officer or Trustee |
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C-11
EXHIBIT D
[IF THIS NOTE IS TO BE A GLOBAL SECURITY, INSERT:]
THIS NOTE
IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (DTC), OR A NOMINEE OF DTC. THIS NOTE IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN DTC OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR ANOTHER
NOMINEE OF DTC.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
DANAHER CORPORATION
4.375%
Senior Note due 2045
CUSIP: 235851 AR3
Danaher Corporation, a corporation duly organized and existing under the laws of Delaware (herein called the Company, which
term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to ,
or registered assigns, the principal sum set forth in the Schedule of Increases or Decreases in Note attached hereto on September 15, 2045, and to pay interest thereon from September 15, 2015 or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, semi-annually on March 15 and September 15 in each year, commencing March 15, 2016 at the rate of 4.375% per annum, until the principal hereof is paid or made available for
payment. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in
whose name this Note (or one or more predecessor Notes) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 1 or September 1 (whether or not a Business Day), as the case may be,
next preceding such Interest Payment Date, except as provided in Section 2.06 of the Supplemental Indenture. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes
of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.
D-1
Payment of the principal of (and premium, if any) and interest on this Note will be made at the
office or agency of the Company maintained for that purpose in Chicago, Illinois, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at
the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer to an account maintained by the Person entitled thereto
as specified in the Security Register.
Reference is hereby made to the further provisions of this Note set forth on the reverse hereof,
which further provisions shall for all purposes have the same effect as if set forth at this place.
Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.
D-2
IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.
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DANAHER CORPORATION |
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D-3
TRUSTEES CERTIFICATE OF AUTHENTICATION
This is one of the Notes of the series designated therein described in the within-mentioned Indenture.
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THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
as Trustee |
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Authorized Officer |
D-4
REVERSE OF NOTE
This Note is one of a duly authorized issue of Securities of the Company (herein called the Notes), issued and to be issued
in one or more series under a Base Indenture, dated as of December 11, 2007 (herein called the Base Indenture, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York
Mellon Trust Company, N.A., as Trustee (herein called the Trustee, which term includes any successor trustee under the Indenture), as amended and supplemented by the Supplemental Indenture, dated as of September 15, 2015
(herein called the Supplemental Indenture, which term shall have the meaning assigned to it in such instrument, and together with the Base Indenture, herein called the Indenture) and reference is hereby made to
the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be authenticated and
delivered. This Note is one of the series designated on the face hereof initially limited in aggregate principal amount to U.S. $500,000,000. The Notes are unsecured general obligations of the Company.
1. Optional Redemption
At any time prior to March 15, 2045, the Company shall have the right, at its option, to redeem the Notes, in whole or in part, at any
time and from time to time, at a redemption price equal to the greater of:
(i) 100% of the principal amount of the Notes to be redeemed;
and
(ii) the sum of the present values of the Remaining Scheduled Payments of principal and interest on such Notes to be redeemed (not
including any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 25 basis points,
plus in each case accrued and unpaid interest thereon to, but excluding, the Redemption Date.
On or after March 15, 2045, the
Company shall have the right, at its option, to redeem the Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest
thereon to, but excluding, the Redemption Date.
Notwithstanding the foregoing, installments of interest on Notes that are due and payable
on Interest Payment Dates falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the registered Holders as of the close of business on the corresponding Regular Record Date.
The Company will cause the notice of any redemption to be mailed (or sent electronically in accordance with applicable Depositary procedures)
to the registered Holders of the Notes to be redeemed not less than 30 nor more than 60 days prior to the Redemption Date. If the Notes are only partially redeemed pursuant to Section 3.01 of the Supplemental Indenture, the Notes to be redeemed
will be selected by the Trustee in such manner as in its sole discretion it shall deem appropriate and fair in accordance with applicable Depositary procedures. The price for any redemption pursuant to Section 3.01 of the Supplemental Indenture
shall be paid prior to 12:00 noon, New York City time, on the applicable Redemption Date or at such later time as is then permitted by the rules of the Depositary applicable to the Notes (if then registered as Global Notes); provided, that
the Company shall deposit with the Trustee or the Paying Agent an amount sufficient to pay the applicable redemption price by 10:00 a.m., New York City time, on the date such redemption price is to be paid.
If money sufficient to pay the redemption price of all of the Notes (or portions thereof) to be redeemed on the applicable Redemption Date is
deposited with the Trustee or the Paying Agent on or before such Redemption Date as provided herein and in the Indenture, then on and after such Redemption Date, interest will cease to accrue on such Notes (or such portion thereof) called for
redemption.
D-5
In the event of redemption of this Note in part only, a new Note or Notes of this series for the
unredeemed portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof.
2. No Other Redemption
Except as set forth in Section 1 of this Note and in Article 3 of the Supplemental Indenture, the Company may not redeem the
Notes of this series at its option prior to the Maturity Date.
3. Change of Control Trigger Event
If a Change of Control Triggering Event occurs, unless the Company has exercised its right to redeem the Notes of this series as described in
Section 3.01 of the Supplemental Indenture, Holders of Notes of this series will have the right to require the Company to repurchase all or any part (equal to U.S. $2,000 or an integral multiple of U.S. $1,000 in excess thereof) of their
Notes pursuant to the offer described below (the Change of Control Offer) on the terms set forth herein. In the Change of Control Offer, the Company will be required to offer payment in cash equal to 101% of the aggregate
principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to the date of purchase (the Change of Control Payment). Within 30 days following any Change of Control Triggering Event, or,
at the Companys option, prior to the date of the consummation of any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, the Company will be required to mail a notice to
Holders of the Notes, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which
date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the Change of Control Payment Date), pursuant to the procedures required by the Indenture and described in such notice. The notice
shall, if mailed prior to the date of the consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date. The Company must
comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change
of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Triggering Event provisions of the Notes, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under Section 3.02 of the Supplemental Indenture or this Section 2 of this Note by virtue of such conflicts.
On the Change of Control Payment Date, the Company will be required, to the extent lawful, to:
(i) accept for payment all Notes, or portions of Notes, properly tendered pursuant to the Change of Control Offer;
(ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes, or portions of Notes, properly
tendered; and
(iii) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers
Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased.
The Paying Agent will promptly pay to
each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate (or cause to be transferred by book-entry) a new Note equal in principal amount to any unpurchased portion of any Notes
surrendered; provided that each new Note will be in a principal amount of U.S. $2,000 or an integral multiple of U.S. $1,000 in excess thereof. The Company will not be required to make an offer to repurchase the Notes upon a Change of
Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn
under its offer. In addition, the
D-6
Company will not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture, other than a default in the payment of
the Change of Control Payment upon a Change of Control Triggering Event.
4. No Sinking Fund
The Notes of this series are not entitled to the benefit of any sinking fund.
5. Defeasance and Discharge
The Indenture contains provisions for defeasance and discharge and for defeasance at any time of certain restrictive covenants and Events of
Default with respect to this Note upon compliance with certain conditions set forth in the Indenture.
6. Events of Default
If an Event of Default with respect to Notes of this Series shall occur and be continuing, the principal of the Notes of this series may be
declared due and payable in the manner and with the effect provided in the Indenture.
7. Modification and Waiver
The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of
the Company and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Notes at the time
Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of each series at the time Outstanding, on behalf of the Holders of all Notes of such
series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such
Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. Without notice to or
consent of any Holder, the parties thereto may amend or supplement the Indenture and the Notes to, among other things, cure any ambiguity, defect or inconsistency, or make any other change that does not adversely affect the rights of any Holder of a
Note.
8. Remedies
As provided in and subject to the provisions of the Indenture, the Holder of this Note shall not have the right to institute any proceeding
with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Notes of
this series, the Holders of not less than 25% in principal amount of the Notes of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Notes of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to
institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Note for the enforcement of any payment of principal hereof or any
premium or interest hereon on or after the respective due dates expressed herein.
No reference herein to the Indenture and no provision
of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency,
herein prescribed.
D-7
9. Transfer and Exchange
As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Security
Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.
The Notes of this
series are issuable only in registered form without coupons in denominations of U.S. $2,000 or an integral multiple of U.S. $1,000 thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series
are exchangeable for a like aggregate principal amount of Notes of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same.
No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith.
Prior to due presentment of this Note for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and none of the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
10. Governing Laws
THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF SAID STATE.
11. Defined Terms
All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.
D-8
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to:
(Insert assignees social security or tax
identification number)
(Insert address and zip code of assignee)
and irrevocably appoints
agent to transfer this Note on the books of the
Company. The agent may substitute another to act for him or her.
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Date: |
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Signature: |
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Signature Guarantee: |
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(Sign exactly as your name appears on the other side of this Note)
D-9
SIGNATURE GUARANTEE
Signatures must be guaranteed by an eligible guarantor institution meeting the requirements of the Security Registrar, which requirements include
membership or participation in the Security Transfer Agent Medallion Program (STAMP) or such other signature guarantee program as may be determined by the Security Registrar in addition to, or in substitution for,
STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.
D-10
SCHEDULE OF INCREASES OR DECREASES IN NOTE
The initial principal amount of this Note is U.S. $[●]. The following increases or decreases in the principal amount of this Note have been made:
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Date |
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Amount of decrease in principal amount of this Note |
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Amount of increase in principal amount of this Note |
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Principal amount of this Note following such decrease or increase |
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Signature of authorized officer or Trustee |
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D-11
Exhibit 5.1
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September 15, 2015 |
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+1 202 663 6000 (t)
+1 202 663 6363 (f)
wilmerhale.com |
Danaher Corporation
2200
Pennsylvania Avenue NW, Suite 800W
Washington, DC 20037-1701
Re: |
1.650% Senior Notes due 2018 |
2.400% Senior Notes due 2020
3.350% Senior Notes due 2025
4.375% Senior Notes due 2045
Ladies and
Gentlemen:
We have acted as counsel for Danaher Corporation, a Delaware corporation (the Company), in connection with the
issue and sale by the Company of $500,000,000 aggregate principal amount of its 1.650% Senior Notes due 2018 (the 2018 Notes), $500,000,000 aggregate principal amount of its 2.400% Senior Notes due 2020 (the 2020 Notes),
$500,000,000 aggregate principal amount of its 3.350% Senior Notes due 2025 (the 2025 Notes) and $500,000,000 aggregate principal amount of its 4.375% Senior Notes due 2045 (the 2045 Notes, and together with the 2018 Notes,
the 2020 Notes and the 2025 Notes, the Notes), pursuant to an underwriting agreement dated as of September 10, 2015 (the Underwriting Agreement) among the Company and Citigroup Global Markets Inc. and Barclays Capital
Inc., as representatives of the several underwriters named therein. The Notes will be issued pursuant to an indenture (the Base Indenture) dated as of December 11, 2007 between the Company and The Bank of New York Mellon Trust
Company, N.A. as trustee (the Trustee), as supplemented by a supplemental indenture (the Supplemental Indenture and together with the Base Indenture, the Indenture) of even date herewith between the Company and
the Trustee.
The Company filed with the Securities and Exchange Commission (the Commission) a Registration Statement on Form
S-3 (File No. 333-203948) under the Securities Act of 1933, as amended (the Securities Act), on May 7, 2015, and the Company and DH Europe Finance S.A., a Luxembourg public limited company, filed with the Commission a
Post-Effective Amendment No. 1 to the Registration Statement on Form S-3 (File No. 333-203948) under the Securities Act, on June 15, 2015, including the prospectus dated June 15, 2015 (the Base Prospectus). The
Company filed with the Commission the Base Prospectus, as supplemented by the preliminary prospectus supplement dated September 10, 2015 (the Preliminary Prospectus Supplement) on September 10, 2015, and the final prospectus
supplement dated September 10, 2015 (the Prospectus Supplement) on September 11, 2015.
Wilmer Cutler Pickering
Hale and Dorr LLP, 1875 Pennsylvania Avenue NW, Washington, DC 20006
Beijing Berlin Boston Brussels Denver
Frankfurt London Los Angeles New York Oxford Palo Alto Washington
Danaher Corporation.
September 15, 2015
Page
2
We have examined and relied upon corporate or other proceedings of the Company regarding the
authorization of the execution and delivery of the Indenture, the Underwriting Agreement and the issuance of the Notes, the Registration Statement, the Base Prospectus, the Preliminary Prospectus Supplement, the Prospectus Supplement and the
Indenture. We have also examined and relied upon originals or copies, certified or otherwise identified to our satisfaction, of such other corporate records of the Company, such other agreements and instruments, certificates of public officials,
officers of the Company and other persons, and such other documents, instruments and certificates as we have deemed necessary as a basis for the opinions hereinafter expressed.
In our examination of the documents referred to above, we have assumed the genuineness of all signatures, the legal capacity of all individual
signatories, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as copies, the authenticity of such original documents, and the completeness and accuracy of the
corporate records of the Company provided to us by the Company.
In rendering the opinions set forth below, we have assumed (i) the
due execution and delivery, pursuant to due authorization, of the Indenture by the Trustee; (ii) that the Trustee has all requisite power and authority to enter into and perform its obligations under the Indenture; and (iii) the Indenture
will be a valid and binding obligation of the Trustee. We have also assumed that there will not have occurred, prior to the date of issuance of the Notes, any change in law affecting the validity or enforceability of such Notes and that at the time
of the issuance and sale of the Notes, the Board of Directors of the Company (or any committee thereof or officer of the Company acting pursuant to authority properly delegated to such committee or officer by the Board of Directors) shall not have
taken any action to rescind or otherwise reduce its prior authorization of the issuance of the Notes.
We express no opinion herein as to
the laws of any jurisdiction other than the state laws of the State of New York, the General Corporation Law of the State of Delaware and the federal laws of the United States of America.
Our opinions below are qualified to the extent that they may be subject to or affected by (i) applicable bankruptcy, insolvency,
reorganization, moratorium, usury, fraudulent conveyance or similar laws relating to or affecting the rights or remedies of creditors generally, (ii) duties and standards imposed on creditors and parties to contracts, including, without
limitation, requirements of materiality, good faith, reasonableness and fair dealing, and (iii) general equitable principles. Furthermore, we express no opinion as to the availability of any equitable or specific remedy upon any breach of the
Indenture or the Notes, or to the successful assertion of any equitable defenses, inasmuch as the availability of such remedies or the success of any equitable defenses may be subject to the discretion of a court. We also express no opinion herein
with respect to compliance by the Company with the securities or blue sky laws of any state or other jurisdiction of the United States or of any foreign jurisdiction. In addition, we express no opinion and make no statement herein with
respect to the antifraud laws of any jurisdiction.
Danaher Corporation.
September 15, 2015
Page
3
On the basis of, and subject to, the foregoing, we are of the opinion that when the Notes
have been duly executed by the Company and when duly authenticated by the Trustee in accordance with the terms of the Indenture, and delivered to the purchasers thereof against payment of the consideration in accordance with the terms of the
Underwriting Agreement therefor duly approved by the Company, the Notes will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms.
Please note that we are opining only as to the matters expressly set forth herein, and no opinion should be inferred as to any other matters.
This opinion is based upon currently existing statutes, rules, regulations and judicial decisions and is rendered as of the date hereof, and we disclaim any obligation to advise you of any change in any of the foregoing sources of law or subsequent
developments in law or changes in facts or circumstances that might affect any matters or opinions set forth herein.
We hereby consent to
the filing of this opinion with the Commission as an exhibit to the Companys Current Report on Form 8-K to be filed on or about September 15, 2015, which Form 8-K will be incorporated by
reference into the Registration Statement and to the use of our name in the Preliminary Prospectus Supplement and Prospectus Supplement under the caption Legal Matters. In giving such consent, we do not hereby admit that we are in the
category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission.
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Very truly yours, |
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WILMER CUTLER PICKERING HALE AND DORR LLP |
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By: |
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/s/ Erika L. Robinson |
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Erika L. Robinson, a Partner |
Exhibit 12.1
CALCULATION OF PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES
The ratios of earnings to fixed charges on a consolidated basis for the periods indicated were as follows (in millions, except ratio data):
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Year Ended December 31 |
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Six Months Ended
July 3, |
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2010 |
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2011 |
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2012 |
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2013 |
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2014 |
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2015 |
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Fixed Charges: |
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Gross Interest Expense |
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$ |
117.1 |
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$ |
141.6 |
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$ |
157.5 |
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$ |
145.9 |
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$ |
122.7 |
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$ |
60.0 |
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Interest Element of Rental Expense |
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15.2 |
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19.9 |
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22.3 |
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19.4 |
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18.8 |
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10.4 |
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Interest on Unrecognized Tax Benefits |
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Total Fixed Charges |
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$ |
132.3 |
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$ |
161.5 |
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$ |
179.8 |
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$ |
165.3 |
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$ |
141.5 |
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$ |
70.4 |
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Earnings Available for Fixed Charges: |
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Earnings (Excluding Earnings from Equity Investees) Before Income Taxes Plus Distributed Income of Equity Investees |
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$ |
1,915.8 |
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$ |
2,429.4 |
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$ |
2,985.4 |
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$ |
3,566.0 |
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$ |
3,481.8 |
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$ |
1,649.9 |
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Add Fixed Charges |
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132.3 |
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161.5 |
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179.8 |
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165.3 |
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141.5 |
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70.4 |
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Interest on Unrecognized Tax Benefits |
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Total Earnings Available for Fixed Charges |
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$ |
2,048.1 |
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$ |
2,590.9 |
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$ |
3,165.2 |
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$ |
3,731.3 |
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$ |
3,623.3 |
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$ |
1,720.3 |
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Ratio of Earnings to Fixed Charges |
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15.5 |
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16.0 |
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17.6 |
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22.6 |
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25.6 |
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24.4 |
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The Pro-Forma ratios of earnings to fixed charges on a consolidated basis for the periods indicated were as follows (in
millions, except ratio data):
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Year Ended December 31, 2014 Pro Forma |
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Six Months Ended July 3, 2015 Pro Forma |
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Fixed Charges: |
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Gross Interest Expense |
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$ |
178.9 |
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$ |
87.7 |
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Interest Element of Rental Expense |
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18.8 |
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10.4 |
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Interest on Unrecognized Tax Benefits |
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Total Fixed Charges |
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$ |
197.7 |
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$ |
98.1 |
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Earnings Available for Fixed Charges: |
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Earnings (Excluding Earnings from Equity Investees) Before Income Taxes Plus Distributed Income of Equity Investees |
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$ |
3,446.7 |
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$ |
1,632.6 |
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Add Fixed Charges |
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197.7 |
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98.1 |
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Interest on Unrecognized Tax Benefits |
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Total Earnings Available for Fixed Charges |
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$ |
3,644.4 |
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$ |
1,730.7 |
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Ratio of Earnings to Fixed Charges |
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18.4 |
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17.6 |
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Exhibit 12.1
NOTE: These ratios include Danaher Corporation and its consolidated subsidiaries. The ratio of
earnings to fixed charges was computed by dividing earnings by fixed charges for the periods indicated, where earnings consist of (1) earnings (excluding earnings from equity investees) before income taxes plus distributed income of
equity investees; plus (2) fixed charges, and fixed charges consist of (A) interest, whether expensed or capitalized, on all indebtedness, (B) amortization of premiums, discounts and capitalized expenses related to indebtedness, and (C)
an interest component representing the estimated portion of rental expense that management believes is attributable to interest. Interest on unrecognized tax benefits is included in the tax provision in the Companys Consolidated Statements of
Earnings and is excluded from the computation of fixed charges.
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