Danaher 2008 Annual Report Download - page 285

Exhibit 10.16
EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (“Agreement”) was initially entered into as of the 18th day of July, 2000 (the “Effective Date”) and amended as
of the last date set forth on the signature page hereto which amendment shall be effective as of January 1, 2009, by and between Danaher Corporation, a
Delaware corporation (the “Company”), and Henry Lawrence Culp, Jr. (the “Executive”).
WHEREAS, the Company desires to employ the Executive, and the Executive desires to be employed by the Company, on the terms and conditions set
forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and other good and valuable consideration, the receipt
and sufficiency of which hereby are acknowledged, the parties hereto agree as follows:
1. Employment. On the terms and conditions set forth in this Agreement, the Company agrees to employ the Executive, and the Executive agrees to be
employed by the Company, for the term set forth in Section 2 hereof and in the position and with the duties set forth in Section 3 hereof.
2. Term. The employment of the Executive by the Company as provided in Section 1 hereof shall commence on the Effective Date and, unless sooner
terminated as hereinafter set forth, shall end three (3) years thereafter; provided that, unless sooner terminated as hereinafter set forth, the term of this
Agreement shall be extended automatically for additional one (1) year periods on the second anniversary of the Effective Date and each subsequent anniversary
date (the “Applicable Anniversary Notice Date”), unless and until either party provides written notice to the other party not less than ninety (90) days prior to
the Applicable Anniversary Notice Date that the party is terminating this Agreement, which termination shall be effective as of the end of the initial term or
extended term, as the case may be.
3. Position and Duties. The Executive shall serve as the President and Chief Executive Officer of the Company, with duties and responsibilities as the
board of directors of the Company (the “Board”) may from time to time determine and assign to the Executive. The Executive agrees to serve without additional
compensation, if elected or appointed thereto, as a director of the Company and any of its subsidiaries and in one or more executive offices of any of the
Company’s subsidiaries, provided that the Executive is indemnified for serving in any and all director capacities on a basis no less favorable than is currently
provided by the Company to any other director of the Company or any of its subsidiaries. The Executive shall devote the Executive’s best efforts and full
business time to the performance of the Executive’s duties and the advancement of the business and affairs of the Company.
4. Place of Performance. In connection with the Executive’s employment by the Company, the Executive shall be based at the principal executive offices
of the Company which the Company retains the right to change in its discretion or at such other place as the Company and the Executive mutually agree and
subject to Section 9(c)(iv) hereof.
Source: DANAHER CORP /DE/, 10-K, February 25, 2009 Powered by Morningstar® Document Research℠
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