Danaher 2011 Annual Report Download - page 227

SCHEDULE B
The following sets forth the specific, fixed expenses to be shared by Owner and the other Participating Aircraft Operators on an initial basis. At any time and
from time to time during the Term, the parties and the other Participating Aircraft Operators may mutually agree to share certain fixed expenses on a basis to be
agreed upon by the parties, or may mutually agree to discontinue or modify any of the fixed expense sharing arrangements set forth below.
1. Owner and each of the other Participating Aircraft Operators shall share the fixed expenses related to the compensation and benefits for the pilots,
cabin attendants and maintenance personnel and Manager’s staff, as well as training costs and other associated fixed costs for such flight crews,
including office supplies, telephones, mobile phones and internet charges (the “Shared Expenses”). Such Shared Expenses shall be pro rated each
calendar year among Owner and each of the other Participating Aircraft Operators based on the total number of flight hours logged by each entity’s
respective aircraft for such calendar year. The Manager, in consultation with Owner and the other Participating Aircraft Operators, at the
beginning of each calendar year, shall estimate the total Shared Expenses expected to be paid to the flight crew for the calendar year and shall pro
rate such Shared Expenses among the parties on a preliminary basis based on the total number of flight hours logged by each party’s respective
aircraft for the prior calendar year. At the beginning of each calendar quarter Owner and each of the other Participating Aircraft Operators shall pay
to the Manager an amount estimated to be one-quarter of such party’s total portion of such Shared Expenses for the year. Following the close of the
calendar year, the Manager shall determine the actual amount of Shared Expenses for the calendar year, as well as the actual, total number of
flight hours logged by Owner for the calendar year and Owner shall pay the Manager such additional amounts, or the Manager shall refund to
Owner such amounts, as appropriate, such that Owner shall bear only its actual pro rata share of the Shared Expenses for the calendar year.
2. Owner shall pay directly the rental fees allocated to its aircraft, pursuant to the terms of the lease agreement covering hangar, office, garage and
common space.
Source: DANAHER CORP /DE/, 10-K, February 24, 2012 Powered by Morningstar® Document Research℠
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