AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON APRIL 14, 2000
REGISTRATION NO. 333-


SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM S-1

REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933

BRUKER DALTONICS INC.
(Exact name of registrant as specified in its charter)

           DELAWARE                                  3826                                     04-3110160
 (State or other jurisdiction                  (Primary Standard                           (I.R.S. Employer
              of                                  Industrial                             Identification No.)
incorporation or organization)            Classification Code Number)

15 Fortune Drive
Billerica, MA 01821
(978) 663-3660

(Address, including zip code, and telephone number,
including area code, of registrant's principal executive offices)


Frank H. Laukien, Ph.D.
Chairman, President and Chief Executive Officer
Bruker Daltonics Inc.
15 Fortune Drive
Billerica, MA 01821
(978) 663-3660
(Name, address, including zip code, and telephone number, including area code,
of agent for service)


COPIES TO:

 Richard M. Stein, Esquire                           Geoffrey B. Davis, Esquire
Hutchins, Wheeler & Dittmar                                 Ropes & Gray
A Professional Corporation                             One International Place
    101 Federal Street                                    Boston, MA 02110
     Boston, MA 02110                                      (617) 951-7000
      (617) 951-6600


Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this Registration Statement. If any of the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. / /

If this form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of earlier effective registration statement for the same offering. / /

If this form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration number of the earlier effective registration statement for the same offering. / /

If this form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the earlier registration statement number of the earlier effective registration statement for the same offering. / /

If delivery of the prospectus is expected to be made pursuant to Rule 434, check the following box. / /

CALCULATION OF REGISTRATION FEE

                                                                  Proposed Maximum
                   Title of Each Class of                        Aggregate Offering          Amount of
                Securities to be Registered                           Price(1)           Registration Fee
Common Stock, $0.01 par value per share.....................        $125,000,000              $33,000

(1) Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended.

The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with section 8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said section 8(a), may determine.




The information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.


Subject to Completion, Dated April , 2000

[LOGO]

Shares

Common Stock

This is the initial public offering of Bruker Daltonics Inc., and we are offering __________shares of our common stock. We anticipate the initial public offering price will be between $ and $ per share.

We have applied to list our common stock on the Nasdaq National Market under the symbol "BDAL."

Investing in our common stock involves risks. See "Risk Factors" beginning on page 6.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.

                                                                Underwriting
                                           Price to             Discounts and        Proceeds to
                                           Public               Commissions          Bruker Daltonics
                                           -------------------- -------------------- ----------------
Per Share                                  $                    $                    $
Total                                      $                    $                    $

We have granted the underwriters the right to purchase up to additional shares to cover over-allotments.

Deutsche Banc Alex. Brown Warburg Dillon Read LLC

Thomas Weisel Partners LLC

The date of this prospectus is , 2000.


INSIDE FRONT COVER

Enabling Life Science Tools for the Post-Genomic Era

Bruker Daltonics Logo image centered

--Genetic Variation: SNPs, Pharmacogenomics and Personalized Medicine (image)

--Proteomics (image)

--Biomarkers, Substance Detection and Pathogen Identification (image)

--Molecular Biology and Basic Medical Research (image)

--Drug Discovery, Combinatorial Chemistry and High-throughput Screening (image)

--Metabolic Profiling (image)

Our Broad Range of Applications (footer)

INSIDE FOLDOUT PANELS 1 AND 2

Bruker Daltonics logo (top left)

Bruker logo (top right)

                                                        Our Related
Our Mass Spectrometry (MS) Technology Platforms +      TechnologiesU       Solutions for Target Markets
-------------------------------------------------   --------------------  -------------------------------
(Our Array of Life Science Tools)                                         (Our Diversified Customer Base)
      MALDI-TOF MS (image)                          Consumables           LIFE SCIENCE INDUSTRIES
      ESI-TOF MS                                    AnchorChip-TM-        Pharmaceuticals (image)
      Fourier Transform MS                            Microarrays         Biotechnology
      Ion Trap MS (image)                             (image)             Agricultural Biotech (image)
      Substance Detection and Pathogen              Robotics (image)      Molecular Diagnostics
      Identification Tools (image)                  Automation            OTHER LIFE SCIENCE MARKETS
                                                    Bioinformatics        Universities (image)
                                                      (image)             Medical Schools
                                                                          Government (NIH, NSF, etc.)
                                                                          Security and Defense


PROSPECTUS SUMMARY

THIS SUMMARY HIGHLIGHTS SELECTED INFORMATION CONTAINED ELSEWHERE IN THIS PROSPECTUS. THIS SUMMARY MAY NOT CONTAIN ALL OF THE INFORMATION THAT YOU SHOULD CONSIDER BEFORE INVESTING IN OUR COMMON STOCK. YOU SHOULD CAREFULLY READ THE ENTIRE PROSPECTUS, INCLUDING "RISK FACTORS" AND THE FINANCIAL STATEMENTS, BEFORE MAKING AN INVESTMENT DECISION.

Bruker Daltonics

We are a leading developer and provider of innovative life science tools based on mass spectrometry. Our substantial investment in research and development allows us to design, manufacture and market a broad array of products intended to meet the rapidly growing needs of our diverse customer base. Our customers include pharmaceutical companies, biotechnology companies, agricultural biotechnology companies, molecular diagnostics companies, academic institutions and government agencies.

Mass spectrometers are sophisticated devices that provide highly accurate molecular information. Our mass spectrometry-based systems often combine automated front-end sample preparation robots, advanced mass spectrometry instrumentation, reagent kits and other consumables and bioinformatics software. Our systems offer integrated solutions for applications in multiple existing and emerging markets including genomics and proteomics, metabolic and biomarker profiling, drug discovery and development, molecular assays and diagnostics, molecular and systems biology and basic medical research.

We market our life science systems both through our direct sales force and through strategic distribution arrangements with Agilent Technologies, PerkinElmer, Sequenom, MWG-Biotech and others.

We are also a worldwide leader in supplying mass spectrometry-based systems for substance detection and pathogen identification in security and defense applications.

Our Products

Our life science solutions incorporate four core mass spectrometry technology platforms including matrix-assisted laser desorption ionization, or MALDI, time-of-flight mass spectrometry, electrospray ionization, or ESI, time-of-flight mass spectrometry, Fourier transform mass spectrometry and ion trap mass spectrometry. We also employ our mass spectrometry technology in our substance detection and pathogen identification systems.

Our Solutions

Our product lines integrate sophisticated mass spectrometers with automated sample preparation and measurement and, where appropriate, bioinformatics software to address many of the bioanalytical and bioinformatics needs of the life science industry across a broad range of applications. Our products have particular application to:

- genetic variation analysis, including such evolving areas as pharmacogenomics and personalized medicine;

- proteomics;

- metabolomics;

- drug discovery based on high-throughput screening and combinatorial chemistry; and

- drug development.

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Our automated systems allow our customers to generate and evaluate large volumes of accurate, high-quality data on a cost-effective basis. We believe that this enhanced throughput and high-quality data improves our customers' ability to apply bioinformatics to validate lead targets, understand disease pathways and analyze lead compounds. Our customers also use our products in molecular biology and other basic medical research. In addition, our automated, integrated mass spectrometry technology forms the basis of our substance detection and pathogen identification products used in security and defense markets. We believe that our products offer the following advantages to our customers:

- high degree of automation;

- integrated solutions;

- accurate results;

- increased productivity; and

- cost efficiency.

Our Strategy

Our strategy is to continue to be a leading provider of mass spectrometry and related systems for use in the life sciences, as well as in substance detection and pathogen identification. Key elements of our strategy include:

- provide a broad array of tools for a wide range of applications;

- develop new platforms, enhanced products and new applications;

- build alliances and pursue acquisitions;

- generate recurring revenue;

- develop and expand our bioinformation business; and

- leverage our intellectual property.

Bruker Daltonics was incorporated in Massachusetts in February 1991, as Bruker Federal Systems Corporation. In February 2000, we reincorporated in Delaware as Bruker Daltonics Inc.

Our principal executive offices are located at 15 Fortune Drive, Billerica, Massachusetts 01821, and our telephone number is (978) 663-3660. Information about Bruker Daltonics is available at www.daltonics.bruker.com. The information on our website is not incorporated by reference into and does not form a part of this prospectus. Daltonics and the Daltonics logo are trademarks of Bruker Daltonics. All other trademarks, tradenames or copyrights referred to in this prospectus are the property of their respective owners.

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The Offering

Common stock offered by Bruker Daltonics.....  shares

Common stock to be outstanding
  after this offering........................  shares

Use of proceeds..............................  General corporate purposes, including
                                               research and development, expansion of sales
                                               and marketing capabilities and working
                                               capital, funding potential strategic
                                               acquisitions, and repayment of our
                                               outstanding bank debt. For more detailed
                                               information, see "Use of Proceeds" on
                                               page 17.

Proposed Nasdaq National Market symbol.......  BDAL

The number of shares to be outstanding upon completion of this offering is based on shares outstanding as of , 2000. This number excludes 2,220,000 shares of common stock that will be reserved for issuance under our stock option plan upon completion of this offering, of which 783,135 shares were subject to outstanding options.

For a more detailed description of our capitalization, please see "Capitalization" on page 18. See "Risk Factors" and other information included in this Prospectus for a discussion of factors you should consider before investing in the shares of our common stock.

UNLESS OTHERWISE INDICATED, ALL INFORMATION IN THIS PROSPECTUS ASSUMES:

- THE UNDERWRITERS HAVE NOT EXERCISED THEIR OPTION TO PURCHASE ADDITIONAL SHARES; AND

- THE SEVEN-FOR-ONE COMMON STOCK SPLIT COMPLETED IN FEBRUARY 2000.

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Summary Financial Data
(in thousands, except per share data)

                                                              Year Ended December 31,
                                        -------------------------------------------------------------------
                                           1995          1996          1997          1998          1999
                                        -----------   -----------   -----------   -----------   -----------
Consolidated/Combined Statements of
  Operations Data (1):
Net revenue...........................  $   32,125    $   46,072    $   51,125    $   42,207    $   64,690
Costs and operating expenses:
  Cost of product revenue.............      16,424        20,329        24,538        19,672        31,618
  Sales and marketing.................       2,806         6,123         7,178         7,435        11,345
  General and administrative..........       1,795         1,717         2,120         2,212         3,411
  Research and development............       9,419         8,812         9,166        13,049        15,138
  Patent litigation costs.............          --         1,901         5,525            --           538
                                        ----------    ----------    ----------    ----------    ----------
      Total costs and operating
        expenses......................      30,444        38,882        48,527        42,368        62,050
                                        ----------    ----------    ----------    ----------    ----------
Operating income (loss) from
  continuing operations...............       1,681         7,190         2,598          (161)        2,640
Other income..........................         196             2           127           174           130
Interest expense, net.................      (1,341)       (1,032)         (743)         (901)         (907)
                                        ----------    ----------    ----------    ----------    ----------
Income (loss) from continuing
  operations before provision for
  income taxes........................         536         6,160         1,982          (888)        1,863
Provision for income taxes............           9         2,265         1,627            --           987
                                        ----------    ----------    ----------    ----------    ----------
Income (loss) from continuing
  operations..........................         527         3,895           355          (888)          876
Income from discontinued operations,
  net of income taxes.................         372           368           209           383           373
                                        ----------    ----------    ----------    ----------    ----------
Net income (loss).....................  $      899    $    4,263    $      564    $     (505)   $    1,249
                                        ==========    ==========    ==========    ==========    ==========

Net income (loss) per share-basic and
  diluted
  Income (loss) from continuing
    operations........................  $     0.01    $     0.08    $     0.01    $    (0.02)   $     0.02
  Income from discontinued operations,
    net of income taxes...............        0.01          0.01          0.00          0.01          0.01
                                        ----------    ----------    ----------    ----------    ----------
Net income (loss) per share...........  $     0.02    $     0.09    $     0.01    $    (0.01)   $     0.03
                                        ==========    ==========    ==========    ==========    ==========
Shares used in computing net income
  (loss) per share-basic and
  diluted.............................      45,500        45,500        45,500        45,500        45,500

                                                                  December 31, 1999
                                                              --------------------------
                                                               Actual    As Adjusted (2)
                                                              --------   ---------------
Consolidated Balance Sheet Data (1):
Cash and cash equivalents...................................  $ 2,443
Working capital.............................................   12,080
Total assets................................................   67,309
Total debt..................................................   15,340
Total stockholders' equity..................................   10,058


(1) In December 1998, Bruker Daltonics Inc. acquired Bruker Daltonik GmbH and its subsidiary Bruker Saxonia Analytik GmbH. Since these companies were under common ownership prior to the acquisition, the financial data is shown on a combined basis for all years presented.

(2) The adjusted balance sheet data reflects the receipt of the net proceeds from the sale of shares of common stock by Bruker Daltonics Inc. in this offering at an assumed initial public offering price of $ per share, after underwriting discounts and commissions and estimated offering expenses.

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RISK FACTORS

ANY INVESTMENT IN OUR COMMON STOCK INVOLVES A HIGH DEGREE OF RISK. YOU SHOULD CONSIDER CAREFULLY THE FOLLOWING INFORMATION ABOUT THESE RISKS, TOGETHER WITH THE OTHER INFORMATION CONTAINED IN THIS PROSPECTUS, BEFORE YOU DECIDE WHETHER TO BUY OUR COMMON STOCK. IF ANY OF THE FOLLOWING RISKS ACTUALLY OCCUR, OUR BUSINESS, RESULTS OF OPERATIONS AND FINANCIAL CONDITION COULD SUFFER

SIGNIFICANTLY. IN THIS CASE, THE MARKET PRICE OF OUR COMMON STOCK COULD DECLINE, AND YOU MAY LOSE ALL OR PART OF THE MONEY YOU PAID TO BUY OUR COMMON STOCK.

Risks Related to Our Business

If our products fail to achieve and sustain sufficient market acceptance across their broad intended range of applications in the life sciences, our business will be significantly harmed.

Our business strategy depends on our ability to successfully commercialize a broad range of products based on mass spectrometry for use in a variety of life science applications. We have only recently commercially launched many of our current products for sale to these markets, and many of our products have achieved only limited sales. The commercial success of our life science products depends on our obtaining continued and expanding market acceptance of our mass spectrometry tools by pharmaceutical and biotechnology companies and academic and government research laboratories across the wide range of applications covered by our product offerings. We may fail to achieve or sustain substantial market acceptance for our products across the full range of our intended life science applications or in one or more of our principal intended life science applications. Any such failure could materially harm our business. To succeed, we must convince substantial numbers of pharmaceutical and biotechnology companies and other laboratories to replace their existing techniques with mass spectrometry techniques employing our systems. Limited funding available for capital acquisitions by our customers, as well as our customers' own internal purchasing approval policies, could hinder market acceptance of our products. Our intended life science customers may be reluctant to make the substantial capital investment generally needed to acquire our products or to incur the training and other costs involved with replacing their existing systems with our products. We also may not be able to convince our intended life science customers that our systems are an attractive and cost-effective alternative to other technologies and systems for the acquisition, analysis and management of molecular information. Because of these and other factors, our products may fail to gain or sustain market acceptance.

Our products compete in markets that are subject to rapid technological change, and most of our products are based on a range of related mass spectrometry technologies.

The market for life science discovery tools is characterized by rapid technological change and frequent new product introductions. Rapidly changing technology could make some or all of our life science product lines obsolete unless we are able to continually improve our existing products and develop new products. Because substantially all of our life science products are based on mass spectrometry, we are particularly vulnerable to any technological advances that would make mass spectrometry obsolete as the basis for bioanalytical systems in any of our life science markets. To meet the evolving needs of our customers, we must rapidly and continually enhance our current and planned products and services and develop and introduce new products and services. Our business model calls for us to derive a significant portion of our revenues each year from products that did not exist in the previous year. However, we may experience difficulties which may delay or prevent the successful development, introduction and marketing of new products or product

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enhancements. In addition, our product lines are based on complex technologies which are subject to rapid change as new technologies are developed and introduced in the marketplace. We may have difficulty in keeping abreast of the rapid changes affecting each of the different markets we serve or intend to serve. If we fail to develop and introduce products in a timely manner in response to changing technology, market demands or the requirements of our customers, this failure could materially harm our business, results of operation and financial condition, could be materially harmed. We offer and plan to offer a broad product line and have incurred and expect to continue to incur substantial expenses for development of new products and enhanced versions of our existing products. The speed of technological change in our life science markets may prevent us from being able to successfully market some or all of our products for the length of time required to recover their often significant development costs. Failure to recover the development costs of one or more products or product lines could harm our business, results of operations and financial condition.

We face substantial competition.

In each market, for each of our life science products, we face substantial competition from major competitors, including competitors who also offer products based on mass spectrometry technology. We expect that competition in our life science markets will increase significantly as more biotechnology and pharmaceutical companies adopt automated high-throughput bioanalytical instruments as tools for drug discovery, drug development, proteomics, genomics and metabolomics. Currently, our principal competition comes from established companies providing products using existing technologies, including mass spectrometry and other technologies, which perform many of the same functions for which we market our products. Our competitors may develop or market products that are more effective or commercially attractive than our current or future products or that may render our products obsolete. Many of our competitors have substantially greater financial, operational, marketing and technical resources than we do.

In addition to the risks applicable to our life science products, our substance detection and pathogen identification products are subject to a number of additional risks, including lengthy product development and contract negotiation periods and certain risks inherent in long-term government contracts.

Our substance detection and pathogen identification products are subject to many of the same risks associated with our life science products, including vulnerability to rapid technological change, dependence on mass spectrometry technology and substantial competition. In addition, our substance detection and pathogen identification products are generally sold to government agencies under long-term contracts. These contracts generally involve lengthy pre-contract negotiations and product development. We may be required to devote substantial working capital and other resources prior to obtaining product orders. As a result, we may incur substantial costs before we recognize revenue from these products. Moreover, in return for larger, longer term contracts, our customers for these products often demand more stringent acceptance criteria. Their criteria may also cause delay in our ability to recognize revenue from sales of these products. Furthermore, we may not be able to accurately predict in advance our costs to fulfill our obligations under these long-term contracts. If we fail to accurately predict our costs, due to inflation or other factors, this failure may harm our results of operations. Any single long-term contract for our substance detection and pathogen identification products may represent a material portion of our total business volume, and the loss of any such contract could have a material adverse effect on our results of operations. The presence or absence of such contracts may cause substantial variation in

7

our results of operations between fiscal periods and, as a result, our results of operations for any given fiscal period may not be predictive of our results for subsequent fiscal periods. The resulting uncertainty may have an adverse impact on our stock price.

Our success depends on our ability to operate without infringing or misappropriating the proprietary rights of others.

Our commercial success depends on avoiding the infringement of other parties' valid patents and proprietary rights as well as the breach of any licenses relating to our technologies and products. There are various third-party patents which may relate to our technology. We may be found in the future to infringe these or other patents or proprietary rights of third parties, either with products we are currently marketing or developing or with new products which we may develop in the future. As described below, a German court has found that sales of our ion trap mass spectrometers in Germany infringe the European patents held by a competitor. If a third party holding rights under a patent successfully asserts an infringement claim with respect to any of our current or future products, we may be prevented from manufacturing or marketing our infringing product in the country or countries covered by the patent we infringe, unless we can obtain a license from the patent holder. We may not be able to obtain such a license on commercially reasonable terms, if at all, especially if the patent holder is a competitor. In addition, even if we can obtain such a license, it may be non-exclusive, which will permit others to practice the same technology licensed to us. We may also be required to pay substantial damages to the patent holder. Under certain circumstances in the United States, these damages may include damages equal to triple the actual damages experienced by the patent holder. If we have supplied infringing products to third parties for marketing by them or licensed third parties to manufacture, use or market infringing products, we may be obligated to indemnify these third parties for any damages they are required to pay to the patent holder and for any losses the third parties may sustain themselves as the result of lost sales or license payments they are required to make to the patent holder. Any successful infringement action brought against us may also adversely affect marketing of the infringing product in other markets not covered by the infringement action, as well as our marketing of other products based on similar technology. Furthermore, we will suffer adverse consequences of a successful infringement action against us even if the action is subsequently reversed on appeal, nullified through another action, or resolved by settlement with the patent holder. The damages or other remedies awarded, if any, may be significant. As a result, any successful infringement action against us may harm our business.

We are currently involved in several legal actions concerning technology for ion trap mass spectrometry with a competitor and various affiliates of the competitor, and a German court has decided that we have infringed two European patents of the competitor.

We have been involved for several years in various litigation proceedings with a competitor, Finnigan Corporation, and some of its affiliates regarding the possible infringement by us of some patents of Finnigan concerning technology for ion trap mass spectrometry. Finnigan is a subsidiary of ThermoQuest Corporation which in turn is a subsidiary of Thermo Electron Corporation. The various claims have been, will be or currently are being heard in the United States International Trade Commission, the Court of Appeals for the Federal Circuit, and are pending in the United States District Court for the District of Massachusetts and in various German courts. In addition, we have filed various infringement and antitrust actions against Finnigan and its affiliates. In 1996, 1997, 1998 and 1999, total worldwide sales of our ion trap mass spectrometry products constituted $2.7 million, $3.2 million, $5.0 million and $8.2 million, respectively.

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A German court has recently decided that we and our strategic partner Agilent have infringed two Finnigan patents by selling our ion trap mass spectrometer products in Germany. As a result, if Finnigan posts a required bond, both we and Agilent will be prohibited from selling our ion trap mass spectrometer products in Germany. We will also be required to pay damages and expenses to Finnigan in amounts to be determined by the German court in these proceedings. In 1999, our German sales of ion trap mass spectrometry products were $2.0 million. Finnigan is seeking to enforce the same European patents against us and Agilent in proceedings in Germany that could prevent us from distributing and delivering our ion trap mass spectrometry products in the United Kingdom, France, Sweden and Switzerland, and similar patents are at issue in the litigation brought by Finnigan in Massachusetts. Finnigan may also seek to show we have committed infringement elsewhere. Should we be found to infringe any patents of Finnigan or its affiliates in these proceedings, we may be liable for monetary damages and could be required to obtain licenses to commercialize our products or to redesign our products so that they do not infringe any of these patents. If we are unable to obtain a license or adopt a non-infringing product design, we could be prevented from developing, manufacturing and selling some of our ion trap mass spectrometry products. We may also have an indemnification obligation to Agilent. In these circumstances, our business would not develop as contemplated, and our results would materially suffer. For more information on our litigation with Finnigan and its affiliates, please see "Business-Legal Proceedings."

We may be involved in other lawsuits to protect or enforce our patents that are brought by us which would be expensive and time consuming.

In order to protect or enforce our patent rights, we may initiate patent litigation against third parties. We may also become subject to interference proceedings conducted in the patent and trademark offices of various countries to determine the priority of inventions. The defense and prosecution, if necessary, of intellectual property suits, interference proceedings and related legal and administrative proceedings is costly and diverts our technical and management personnel from their normal responsibilities. We may not prevail in any of these suits. An adverse determination of any litigation or defense proceedings could put our patents at risk of being invalidated or interpreted narrowly and could put our patent applications at risk of not issuing.

Furthermore, because of the substantial amount of discovery required in connection with intellectual property litigation, there is a risk that some of our confidential information could be compromised by disclosure during this type of litigation. For example, during the course of this kind of litigation, there could be public announcements of the results of hearings, motions or other interim proceedings or developments in the litigation. If securities analysts or investors perceive these results to be negative, it could have a substantial negative effect on the trading price of our stock.

If we are unable to effectively protect our intellectual property, third parties may use our technology, which would impair our ability to compete in our markets.

Our continued success will depend in significant part on our ability to obtain and maintain meaningful patent protection for our products throughout the world. We rely on patents to protect a significant part of our intellectual property and to enhance our competitive position. However, our presently pending or future patent applications may not issue as patents, and any patent previously issued to us may be challenged, invalidated, held unenforceable or circumvented. Furthermore, the claims in patents which have been issued or which may be issued to us in the future may not be sufficiently broad to prevent third parties

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from producing competing products similar to our products. In addition, the laws of various foreign countries in which we compete may not protect our intellectual property to the same extent as do the laws of the United States. Failure to obtain adequate patent protection for our proprietary technology could materially impair our ability to be commercially competitive.

In addition to patent protection, we also rely on protection of trade secrets, know-how and confidential and proprietary information. To maintain the confidentiality of trade secrets and proprietary information, we generally seek to enter into confidentiality agreements with our employees, consultants and strategic partners upon the commencement of a relationship with us. However, we may not obtain these agreements in all circumstances. In the event of unauthorized use or disclosure of this information, these agreements, even if obtained, may not provide meaningful protection for our trade secrets or other confidential information. In addition, adequate remedies may not exist in the event of unauthorized use or disclosure of this information. The loss or exposure of our trade secrets and other proprietary information would impair our competitive advantages and could have a material adverse affect on our operating results, financial condition and future growth prospects. Furthermore, others may have, or may in the future independently develop, substantially similar or superior know-how and technology.

We have agreed to share our name, portions of our intellectual property rights and distribution channels with other entities under common control and to lock in the price of products purchased from and sold to these entities.

We maintain a sharing agreement with 13 affiliated entities that requires us to share portions of our intellectual property as it existed on February 28, 2000 and our distribution channels with these affiliated companies and their affiliates. We also share the Bruker name with many of these affiliates and, under several defined circumstances, we could lose the right to use the Bruker name. The loss of the Bruker name could result in a loss of goodwill, brand loyalty and sales of our products. In addition, we have agreed to maintain the price of some products purchased from and sold to these affiliates for a period of up to twelve years, subject to yearly adjustments equal to the increase in the Consumer Price Index.

Our manufacture and sale of products could lead to product liability claims for which we could have substantial liability.

The manufacture and sale of our products exposes us to product liability claims if any of our products cause injury or are found otherwise unsuitable during manufacturing, marketing, sale or customer use. A successful product liability claim brought against us in excess of, or outside the coverage of, our insurance coverage could have a material adverse effect on our business, financial situation and results of operations. We may not be able to maintain product liability insurance on acceptable terms, if at all, and insurance may not provide adequate coverage against potential liabilities.

Our business could be harmed if our collaborations fail to advance our product development.

Demand for our products will depend in part upon the extent to which our collaborations with pharmaceutical and biotechnology companies are successful in developing, or helping us to develop, new products and new applications for our existing products. In addition, we collaborate with academic institutions on product development. We have limited or no control over the resources that any collaborator may devote to our products. Any of our present or future collaborators may not perform their obligations as

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expected. If we fail to enter into or maintain appropriate collaboration agreements or if any of these events occur, we may not be able to develop some of our new products, which could harm our business.

We rely on strategic partners to market some of our products.

A substantial portion of our sales of selected products consists of sales to third parties who incorporate our products in their systems. These third parties are responsible for the marketing and sales of their systems. We have little or no control over their marketing and sales activities or how they use their resources. Our present or future strategic partners may or may not purchase sufficient quantities of products from us or perform appropriate marketing and sales activities. These failures by our present or future strategic partners, or our inability to maintain or enter into new arrangements with strategic partners for product distribution, could materially harm the growth of our business and our ability to generate sufficient revenue.

Any reduction in the capital resources or government funding of our customers could reduce our sales and harm our business.

A significant portion of our sales are capital purchases by our customers. The spending policies of our customers could have a significant effect on the demand for our products. These policies are based on a wide variety of factors, including the resources available to make purchases, the spending priorities among various types of equipment, policies regarding spending during recessionary periods and changes in the political climate. Any changes in capital spending or changes in the capital budgets of our customers could significantly reduce demand for our products. The capital resources of our biotechnology and other corporate customers may be limited by the availability of equity or debt financing. Any significant decline in research and development expenditures by our life science customers could harm our business.

We are dependent, both directly and indirectly, upon general health care spending patterns, particularly in the research and development budgets of the pharmaceutical and biotechnology industries, as well as upon the financial condition of various governments and government agencies. Since our inception, both we and our academic collaborators have benefited from various governmental contracts and research grants. Whether we or our academic collaborators will continue to be able to attract these grants depends not only on the quality of our products, but also on general spending patterns of public institutions. There exists the risk of a potential decrease in the level of governmental spending allocated to scientific and medical research which could substantially reduce or even eliminate our grants. Our status as a public company may reduce our ability to obtain government research grants in the future. In addition, we make a substantial portion of our sales to non-profit and government entities which are dependent on continued high levels of government support for scientific research. Any decline in this support could harm our business.

We may not be able to expand our sales and service staff to meet demand for our products and services.

We need to expand our direct marketing and sales force as well as our service and support staff. Our future revenue and profitability will depend on our ability to expand our team of marketing and service personnel. Because our products are technical in nature, we believe that our marketing, sales and support staff must have scientific or technical expertise and experience. Competition for employees with these skills is intense. We may not be able to

11

continue to attract and retain sufficient qualified sales and service people, and we may not be able to grow and maintain an efficient and effective sales, marketing and support department. If we fail to continue to attract or retain qualified people, then our business could suffer.

We plan significant growth, and there is a risk that we will not be able to manage this growth.

Our success will depend on the expansion of our operations. Effective growth management will place increased demands on our management, operational and financial resources. To manage our growth, we must expand our facilities, augment our operational, financial and management systems, and hire and train additional qualified personnel. Our failure to manage this growth effectively would harm our business, results of operations and financial condition.

If ethical and other concerns surrounding the use of genetic information, gene therapy or genetically modified organisms become widespread, we may have less demand for our products.

Genetic testing has raised ethical issues regarding confidentiality and appropriate uses of the resulting information. For these reasons, governmental authorities may limit or prohibit genetic testing. Gene therapy and genetically modified organism content in food has raised safety concerns. Government regulation or market forces could reduce the demand for our life science tools for use in applications related to these markets. This could reduce the potential markets for our products which could decrease our sales.

We are dependent upon various key personnel and must recruit additional qualified personnel for a number of management positions.

Our success is highly dependent on the continued services of key management, technical and scientific personnel. Our management and other employees may voluntarily terminate their employment with us at any time upon short notice. The loss of the services of any member of our senior management, technical or scientific staff may significantly delay or prevent the achievement of product development and other business objectives. Our chief executive officer also is and has been chairman of the board of directors of an affiliated company and a management officer of another affiliate, which may reduce the time and attention he can devote to our management. In addition, our chief financial officer serves as the Treasurer of one of our affiliated companies. Our future success will also depend on our ability to identify, recruit and retain additional qualified scientific, technical and managerial personnel. Competition for qualified personnel is intense, particularly in the areas of information technology, engineering and science, and the process of hiring suitably qualified personnel is often lengthy. If we are unable to hire and retain a sufficient number of qualified employees, our ability to conduct and expand our business could be seriously reduced.

We are dependent in our operations upon a limited number of suppliers and contract manufacturers.

We currently purchase components used in our mass spectrometry instruments from a limited number of outside sources. The reliance on a limited number of suppliers could result in time delays associated with redesigning a product due to an inability to obtain an adequate supply of required components and reduced control over pricing, quality and timely delivery. Any interruption in the supply of components could have an adverse effect on our business, results of operations and financial condition.

12

If we fail to expand our international presence, our revenue will not grow as expected.

International sales account and are expected to continue to account for a significant portion of our total revenues. International expansion will require that we hire additional personnel. If we fail to hire additional personnel or develop and maintain relationships with foreign customers and partners, we may not be able to expand our international sales and would suffer decreased profits.

International sales and operations are and will remain subject to a number of additional risks not typically present in domestic operations, including:

- changes in regulatory requirements;

- the imposition of government controls;

- political and economic instability or conflicts;

- costs and risks of deploying systems in foreign countries;

- limited intellectual property rights; and

- the burden of complying with a wide variety of complex foreign laws and treaties.

Our international operations are and will remain subject to the risks associated with the imposition of legislation and regulation relating to the import or export of high technology products. We cannot predict whether tariffs or restrictions upon the importation or exportation of our products will be implemented by the United States or other countries. If these tariffs or restrictions are imposed, our revenues or profits could suffer.

We may lose money when we exchange foreign currency received from international sales into U.S. dollars.

A significant portion of our business is conducted in currencies other than the US dollar, which is our reporting currency. As a result, currency fluctuations among the US dollar and the currencies in which we do business have caused and will continue to cause foreign currency transaction gains and losses. We recognize foreign currency gains or losses arising from our operations in the period incurred. We cannot predict the effects of exchange rate fluctuations upon our future operating results because of the number of currencies involved, the variability of currency exposures and the potential volatility of currency exchange rates.

Various international tax risks could adversely affect our earnings.

We are subject to international tax risks. Distributions of earnings and other payments received from our subsidiaries may be subject to withholding taxes imposed by the countries where they are operating or are formed. If these foreign countries do not have income tax treaties with the United States or the countries where our subsidiaries are incorporated, we could be subject to high rates of withholding taxes on these distributions and payments. We could also be subject to being taxed twice on income related to operations in these non-treaty countries. Because we are unable to reduce the taxable income of one operating company with losses incurred by another operating company located in another country, we may have a higher foreign effective income tax rate than that of other companies in our industry. The amount of the credit that we may claim against our U.S. federal income tax for foreign income taxes is subject to many limitations which may significantly restrict our ability to claim a credit for all of the foreign taxes we pay.

13

If we make acquisitions, we will face risks that could harm our business.

If appropriate opportunities become available, we may acquire additional technologies, products or businesses to expand our existing and planned product lines and technologies. These acquisitions would expose us to the risks associated with acquisitions including:

- the assimilation of new technologies, operations, sites and personnel;

- the diversion of resources from the our existing business and technologies; and

- the inability to generate revenues to offset associated acquisition costs.

Acquisitions may also result in the issuance of dilutive equity securities, the incurrence or assumption of debt or additional expenses associated with the amortization of acquired intangible assets or potential business. Our failure to successfully address these risks could harm our business, results of operations and financial condition.

Our recent acquisition of ProteiGene involves the purchase of unproven technology which will require substantial resources to develop.

We recently acquired ProteiGene, a company in the early stages of developing various biological analysis systems and databases. ProteiGene's approach and technology are not yet proven, and there is a substantial risk that efforts in developing ProteiGene's technology will not yield any marketable products. In addition, the effort we expend on this development will utilize resources which we could otherwise have used in more proven areas of technology.

Responding to claims relating to improper handling, storage or disposal of hazardous chemicals and radioactive and biological materials which we use could be time consuming and costly.

We use controlled hazardous and radioactive materials in our business. The risk of accidental contamination or injury from these materials cannot be completely eliminated. If an accident with these substances occurs, we could be held liable for any damages that result. Additionally, an accident could damage our research and manufacturing facilities resulting in delays and increased costs.

Damages to our manufacturing facilities could adversely impact our ability to effectively operate our business.

We maintain manufacturing facilities in Billerica, Massachusetts, Bremen, Germany and Leipzig, Germany. Damage to any of these facilities due to fire, weather, earthquake or other natural disaster, power loss, unauthorized entry or other events could cause an interruption in the production of our products. A prolonged interruption in our manufacturing operations could have a material adverse impact on our ability to effectively operate our business. The insurance we have purchased may not be sufficient to cover any losses incurred.

Our operating results may fluctuate significantly and any failure to meet financial expectations may disappoint securities analysts or investors and result in a decline in our common stock price.

Our operating results have fluctuated in the past and we expect they will fluctuate in the future. These fluctuations could cause our common stock price to decline. Some of the factors that could cause our operating results to fluctuate include:

- recognition of non-recurring revenue due to completion of government contracts or other revenues;

- demand for and market acceptance of our products;

- the timing, release and competitiveness of our products;

14

- our competitors' announcements or introduction of new products, services or technological innovations;

- disputes regarding patents or other intellectual property rights;

- securities class action or other litigation;

- adverse changes in the level of economic activity in the United States and other major regions in which we do business; and

- general and industry-specific economic conditions, which may affect our customers' research and development expenditures and use of our products.

If revenue declines in a period, whether due to a delay in recognizing expected revenue or otherwise, our earnings may decline because many of our expenses are relatively fixed in the short term. In particular, research and development and selling, general and administrative expenses are not directly affected by variations in revenue in a period.

Due to volatile and unpredictable revenues and operating expenses, we believe that period-to-period comparisons of our results of operations may not be a good indication of our future performance. It is possible that, in some future periods, our operating results may be below the expectations of securities analysts or investors. In such event, the market price of our common stock could fluctuate significantly or decline.

Risks Related to This Offering

Concentration of ownership among our existing principal stockholders may prevent new investors from influencing significant corporate decisions.

Following the completion of this offering, our five current stockholders will beneficially own or control approximately percent of the outstanding shares of our common stock. Accordingly, our current stockholders will have the ability to control the outcome of corporate actions requiring stockholder approval, including election of directors, any merger, consolidation or sale of all or substantially all of our assets and any other significant corporate transactions. The concentration of ownership may also delay or prevent a change of control of the Company at a premium price if the current stockholders oppose it. Please see "Management" and "Principal Stockholders" for details on our stock ownership.

Our current stockholders have controlling interests in affiliated companies and could take actions which might not be in the best interest of our other stockholders.

Our five current stockholders are members of an extended family and are also the direct or indirect owners of a number of affiliated companies along with their respective subsidiaries. Our current stockholders, including our chief executive officer, also hold positions as officers or directors of certain of these affiliates. The interests of our current stockholders as the direct or indirect owners of these affiliates may conflict with their interests as stockholders of Bruker Daltonics. Our current stockholders, in their capacity as Bruker Daltonics stockholders, will have no obligation to act in the best interest of Bruker Daltonics or of other Bruker Daltonics stockholders, and they may cause us to take actions not in the best interests of Bruker Daltonics or to refrain from taking actions that are in our best interests.

The market price of our common stock may be highly volatile.

The trading price of our common stock is likely to be highly volatile and could be subject to wide fluctuations in price in response to various factors, many of which are beyond our control, including:

- developments concerning proprietary rights, including patents, by us or a competitor;

15

- conditions or trends in the life sciences;

- changes in the market valuations of life sciences or life science tool companies; and

- developments concerning our various strategic collaborations.

In addition, the stock market in general, and the Nasdaq National Market and the market for life science companies in particular, have experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of these companies. Furthermore, there has been particular volatility in the market prices of securities of biotechnology and life science companies. These broad market and industry factors may seriously harm the market price of our common stock regardless of our operating performance. In the past, following periods of volatility in the market, securities class action litigation has often been instituted against these companies. The commencement of any litigation against us could result in substantial costs and a diversion of management's attention and resources which could seriously harm our ability to achieve our financial goals.

Anti-takeover provisions in our charter documents may limit the ability of another party to acquire us which could cause our stock price to decline.

Various provisions of our certificate of incorporation and by-laws could delay or prevent a third party from acquiring us, even if doing so might be beneficial to our stockholders. These provisions provide for a classified board of directors of which approximately one third of the directors will be elected each year, allow the authorized number of directors to be changed only by a resolution of the board of directors, establish advance notice requirements for proposals that can be acted upon at stockholder meetings and limit who may call stockholder meetings. These provisions may prevent a merger or acquisition that would be attractive to stockholders and could limit the price investors would be willing to pay in the future for our common stock.

New investors in our common stock will experience immediate and substantial dilution.

The offering price of our common stock will be substantially higher than the net tangible book value per share of our existing capital stock. As a result, if you purchase common stock in this offering you will incur immediate and substantial dilution of $ in net tangible book value per share of common stock, based on an assumed public offering price of $ per share. You will also experience additional dilution upon the exercise of outstanding stock options. Please see "Dilution" for a more detailed discussion of the dilution new investors will incur in this offering.

If our stockholders sell substantial amounts of our common stock after the offering, the market price of our stock may decline.

The number of shares of common stock available for sale in the public market is limited by restrictions under federal securities law and under lock up agreements with our underwriters. These lock up agreements restrict our stockholders from disposing of their shares for one hundred eighty days after the date of this prospectus without the prior written consent of Deutsche Bank Securities Inc. However, Deutsche Bank Securities Inc. may release all or any portion of the common stock from the restrictions of the lock up agreements. Any sales of substantial amounts of common stock after the offering, including shares issued upon the exercise of outstanding options, may cause the market price of our common stock to decline.

16

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This prospectus contains "forward-looking statements." These statements may include statements regarding:

- our business strategy;

- plans for hiring additional personnel;

- entering into business combinations or strategic alliances;

- intellectual property;

- litigation results;

- adequacy of anticipated sources of funds, including the proceeds from this offering; and

- other statements about our plans, objectives, expectations and intentions contained in this prospectus that are not historical facts.

When used in this prospectus, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, actual results could differ materially from those expressed or implied by these forward looking statements for a number of reasons, including those discussed under "Risk Factors" and elsewhere in this prospectus. Following this offering, we assume no obligation to update any forward-looking statements contained in this prospectus.

17

USE OF PROCEEDS

We estimate the net proceeds from the sale of the shares of common stock offered by us will be $ , after deducting the estimated underwriting discount and offering expenses. We intend to use the net proceeds of this offering for general corporate purposes, including research and development, expansion of sales and marketing capabilities and working capital, potential strategic acquisitions and repayment of our outstanding bank loans. As of December 31, 1999, we had outstanding debt, including long-term and short-term, in the aggregate of $15.3 million. We intend to use approximately $ million of the net proceeds of the offering to repay this debt. The interest rate on our debt ranges from 4.7% to 7.9% with banks in Germany and the United States. The long-term debt matures in 2003 and 2008. The amounts actually expended for working capital purposes may vary significantly and will depend on a number of factors, including the amount of our future revenues and the other factors described under "Risk Factors." Accordingly, our management will retain broad discretion in the allocation of the net proceeds of this offering. Pending these uses, we intend to invest the proceeds in short-term, investment-grade, interest-bearing investments.

DIVIDEND POLICY

We have never declared or paid cash dividends on our capital stock. We currently anticipate that we will retain all available funds for use in our business and do not anticipate paying any cash dividends in the foreseeable future. Any determination to pay dividends in the future will be at the discretion of our board of directors and will depend upon our financial condition, results of operations and capital requirements.

18

CAPITALIZATION

The table below sets forth the following information:

- our actual capitalization as of December 31, 1999; and

- our capitalization as adjusted to reflect the receipt of net proceeds from our sale of shares of common stock at an assumed initial public offering price of $ per share in this offering, less the underwriting discounts and commissions and estimated offering expenses.

You should read this table in conjunction with the Financial Statements and the other financial information included in this prospectus.

                                                                  December 31, 1999
                                                              --------------------------
                                                               Actual        As Adjusted
                                                              --------       -----------
                                                                    (in thousands)
Short-term and long-term obligations........................  $15,340         $

Stockholders' equity:
Common Stock, $0.01 par value; 100,000,000 shares
  authorized, 45,500,000 shares issued and outstanding,
  actual; and         shares issued and outstanding, as
  adjusted(1)...............................................      455
Additional paid-in-capital..................................    6,045
Accumulated other comprehensive loss........................   (2,854)
Retained earnings...........................................    6,412
                                                              -------         --------
      Total stockholders' equity............................   10,058
                                                              -------         --------
        Total capitalization................................  $25,398         $
                                                              =======         ========


(1) The number of shares of common stock does not include 2,220,000 shares of common stock reserved for issuance under our 2000 Stock Option Plan which was adopted in February 2000. Options for 783,135 shares of common stock were granted under the 2000 Stock Option Plan in February 2000.

19

DILUTION

Our actual net tangible book value as of December 31, 1999, was approximately $9.7 million, or approximately $0.21 per share of common stock. After giving effect to the sale of shares of common stock offered by this prospectus at an assumed price of $ per share and after deduction of the underwriting discounts and estimated offering expenses, our adjusted net tangible book value at December 31, 1999, would have been $ million, or $ per share of common stock.

Actual net tangible book value per share before the offering has been determined by dividing net tangible book value (total tangible assets less total liabilities) by the number of shares of common stock outstanding at December 31, 1999, as adjusted for the subsequent seven-for-one stock split completed in February 2000. The offering will result in an immediate increase in net tangible book value of $ per share to existing stockholders and an immediate dilution in net tangible book value of $ per share to new investors. The following table illustrates this dilution on a per share basis:

Assumed initial public offering price per share.............              $
  Actual net tangible book value per share as of
    December 31, 1999.......................................   $ 0.21
  Increase per share attributable to new investors..........
                                                               ------
Adjusted net tangible book value per share after this
  offering..................................................
                                                                          ------
  Dilution per share to new investors.......................              $
                                                                          ======

The following table summarizes, on an adjusted basis as of December 31, 1999, the difference between the number of shares of common stock purchased from us, the total consideration paid and the average price per share paid by the existing stockholders and by the new investors, before deducting underwriting discounts and commissions and estimated offering expenses, at an assumed initial public offering price of $ per share.

                                         Shares Purchased        Total Consideration       Average
                                      ----------------------   ------------------------     Price
                                        Number      Percent       Amount       Percent    Per Share
                                      -----------   --------   -------------   --------   ---------
Existing stockholders...............  45,500,000               $  6,500,000                 $0.14
New investors.......................
                                      ----------     ------    ------------     ------
    Total...........................
                                      ==========     ======    ============     ======

The above discussion and tables assume no exercise of stock options after December 31, 1999.

If the underwriters exercise their over-allotment in full, the following will occur:

- the number of shares of common stock held by existing stockholders will decrease to approximately % of the total number of shares of our common stock outstanding; and

- the number of shares held by new investors will increase to shares, or approximately % of the total number of our common stock outstanding after this offering.

20

SELECTED FINANCIAL DATA

(in thousands, except per share data)

The consolidated and combined statements of operations data for each of the years ended December 31, 1997, 1998, and 1999 and the consolidated and combined balance sheet data as of December 31, 1997, 1998 and 1999 have been derived from our audited financial statements included elsewhere in this prospectus which, for 1998 and 1999, have been audited by Ernst & Young LLP, independent auditors, and for 1997 have been audited by BDO, independent auditors. The combined statements of operations data for the years ended December 31, 1995 and 1996 and the combined balance sheet data as of December 31, 1995 and 1996 have been derived from unaudited financial statements not included in this prospectus. The financial statements for 1995 through 1998 are presented on a combined basis due to the common ownership of the Company and its affiliated company in Germany, which was formally acquired in December 1998. Historical results are not necessarily indicative of future results. The data presented below have been derived from financial statements that have been prepared in accordance with accounting principles generally accepted in the United States and should be read with the consolidated and combined financial statements, including the notes, and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" included elsewhere in this prospectus.

                                                                        Year Ended December 31,
                                                ------------------------------------------------------------------------
                                                    1995           1996           1997           1998           1999
                                                ------------   ------------   ------------   ------------   ------------
                                                                 (in thousands, except per share data)
Consolidated/Combined Statements of Operations
  Data:
Product revenue...............................  $    30,076    $    43,942    $    49,247    $    40,157    $    60,620
Other revenue.................................        2,049          2,130          1,878          2,050          4,070
                                                -----------    -----------    -----------    -----------    -----------
    Net revenue...............................       32,125         46,072         51,125         42,207         64,690

Costs and operating expenses:
  Cost of product revenue.....................       16,424         20,329         24,538         19,672         31,618
  Sales and marketing.........................        2,806          6,123          7,178          7,435         11,345
  General and administrative..................        1,795          1,717          2,120          2,212          3,411
  Research and development....................        9,419          8,812          9,166         13,049         15,138
  Patent litigation costs.....................           --          1,901          5,525             --            538
                                                -----------    -----------    -----------    -----------    -----------
    Total costs and operating expenses........       30,444         38,882         48,527         42,368         62,050
                                                -----------    -----------    -----------    -----------    -----------
Operating income (loss) from continuing
  operations..................................        1,681          7,190          2,598           (161)         2,640

Other income                                            196              2            127            174            130
Interest expense, net.........................       (1,341)        (1,032)          (743)          (901)          (907)
                                                -----------    -----------    -----------    -----------    -----------
Income (loss) from continuing operations
  before provision for income taxes...........          536          6,160          1,982           (888)         1,863
Provision for income taxes....................            9          2,265          1,627             --            987
                                                -----------    -----------    -----------    -----------    -----------
Income (loss) from continuing operations......          527          3,895            355           (888)           876
Income from discontinued operations, net of
  income taxes................................          372            368            209            383            373
                                                -----------    -----------    -----------    -----------    -----------
Net income (loss).............................  $       899    $     4,263    $       564    $      (505)   $     1,249
                                                ===========    ===========    ===========    ===========    ===========
Net income (loss) per share--basic and
  diluted.....................................
  Income (loss) from continuing operations....  $      0.01    $      0.08    $      0.01    $     (0.02)   $      0.02
  Income from discontinued operations, net of
    income taxes..............................         0.01           0.01           0.00           0.01           0.01
                                                -----------    -----------    -----------    -----------    -----------
Net income (loss) per share...................  $      0.02    $      0.09    $      0.01    $     (0.01)   $      0.03
                                                ===========    ===========    ===========    ===========    ===========
Shares used in computing net income (loss) per
  share--basic and diluted....................       45,500         45,500         45,500         45,500         45,500

21

SELECTED FINANCIAL DATA (Continued)

(in thousands, except per share data)

                                                                         As of December 31,
                                              ------------------------------------------------------------------------
                                                  1995           1996           1997           1998           1999
                                              ------------   ------------   ------------   ------------   ------------
Consolidated/Combined Balance Sheet Data:...
Cash and cash equivalents...................  $     1,715    $     3,766    $     2,021          1,135    $     2,443
Working capital.............................      (14,936)       (14,759)        (8,845)         6,338         12,080
Total assets................................       49,134         62,105         52,249         63,841         67,309
Total debt..................................       13,817         12,752          8,496         17,924         15,340
Total stockholders' equity..................        6,312          9,996          9,870         10,340         10,058

22

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

YOU SHOULD READ THE FOLLOWING DISCUSSION AND ANALYSIS OF OUR FINANCIAL CONDITION AND RESULTS OF OPERATIONS TOGETHER WITH "SELECTED FINANCIAL DATA" AND OUR FINANCIAL STATEMENTS AND RELATED NOTES APPEARING ELSEWHERE IN THIS PROSPECTUS. THIS DISCUSSION AND ANALYSIS CONTAINS FORWARD-LOOKING STATEMENTS THAT INVOLVE RISKS, UNCERTAINTIES AND ASSUMPTIONS. OUR ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE ANTICIPATED IN THESE FORWARD-LOOKING STATEMENTS AS A RESULT OF MANY FACTORS, INCLUDING, BUT NOT LIMITED TO, THOSE SET FORTH UNDER "RISK FACTORS" AND ELSEWHERE IN THIS PROSPECTUS.

Overview

We are a leading developer and provider of innovative life science tools based on mass spectrometry. We are also a worldwide leader in supplying mass spectrometry-based systems for substance detection and pathogen identification in security and defense applications. We maintain technical centers in Europe, North America and Japan, as well as customer support facilities in many industrialized and developing countries. We allocate substantial capital and resources to research and development and are party to various collaborations and strategic alliances. Our diverse customer base includes pharmaceutical companies, biotechnology companies, academic institutions and government agencies.

Effective December 21, 1998, Bruker Daltonics Inc. acquired all of the shares of Bruker Daltonik GmbH for $5.4 million. The transaction represented an exchange between entities under common control and, accordingly, the assets acquired and liabilities assumed have been accounted for at historical cost in a manner similar to that of pooling-of-interests accounting. In addition, all periods presented have been restated to reflect the businesses on a combined basis.

Acquisitions

In December 1999, we acquired a 49% interest in ProteiGene from a related party. ProteiGene is a biomarker research and development company specializing in the application of mass spectrometry and bioinformatics for medical and microbiology cell and tissue analysis. The acquisition cost was $50,000 in cash, the estimated fair market value, and was accounted for as a purchase. In March 2000, we acquired the remaining 51% interest in ProteiGene for $26,000 from an unrelated party.

In June 1999, we acquired substantially all of the assets of Viking Instruments Corporation, a developer and manufacturer of transportable gas chromatograph mass spectrometers. Customers use these instruments for laboratory and field analysis of soil, air and water for the identification and quantification of a wide variety of organic compounds and pollutants. Our acquisition cost was $150,000 in cash, and we accounted for the transaction as a purchase. In connection with the acquisition, we expensed $100,000 as purchased in-process research and development, and we allocated $25,000 to intangibles, $20,000 to inventory and $5,000 to fixed assets. We are amortizing the intangibles over a period of five years and depreciating the fixed assets over three-to-five years.

Discontinued Operations

In 1999, we decided to dispose of our analytical infrared sales group. In March 2000, we completed the divestiture to a related party, Bruker Optik GmbH, without a gain or loss. Our former analytical infrared sales group sold and serviced instruments, not manufactured by us,

23

in Germany only. The infrared sales group generated revenues of $2.7 million in fiscal 1999. Amounts previously reported have been reclassified as discontinued operations and are not included in this discussion.

Significant Accounting Policies

CUSTOMER DEPOSITS. Under the terms and conditions of contracts with many of our customers, we require a portion of the purchase price in the form of an advance deposit. We record these deposit amounts as a liability until the associated revenue is recognized at the time of acceptance of the system.

REVENUE RECOGNITION. We recognize product revenue from system sales when a product is accepted by the customer, typically when we meet the terms and conditions of the contract. When we sell products through an independent distributor, a strategic collaboration partner or an unconsolidated affiliate which assumes responsibility for installation, we recognize the sale upon shipment from our facilities. We recognize revenue from accessories and parts upon shipment, and revenue from services when performed. We recognize other revenue, which is largely comprised of research and development grants, as the grant work is performed.

COST OF PRODUCT REVENUE. Cost of product revenue includes all direct materials, direct labor, benefits and indirect costs related to generating revenue. These indirect costs include indirect labor, materials and supplies, equipment rental and depreciation of production equipment, test equipment and facilities as related to production space revenue.

SALES AND MARKETING. Sales and marketing expenses include salaries, sales commissions, benefits, travel, occupancy costs and related expenses for our direct sales force, sales support and marketing functions. We have expanded our sales and marketing organization substantially since 1997, adding subsidiaries and sales representatives in China, France, Japan, Scandinavia, Switzerland, the United Kingdom and Taiwan. Sales and marketing expenses also include costs associated with supporting our distribution channel partners for our time-of-flight and ion trap mass spectrometry products. We expect that sales and marketing expenses will continue to increase in the future as we further expand our global distribution capabilities and introduce new products.

GENERAL AND ADMINISTRATIVE. General and administrative expenses include salaries, benefits and expenses for our executive, finance, legal, human resources and internal systems support personnel. In addition, general and administrative expenses include occupancy costs, fees for professional services and depreciation of office equipment. We expect general and administrative expenses to increase as we continue to expand our administrative infrastructure to support the anticipated growth of our business, including the costs associated with being a public company.

RESEARCH AND DEVELOPMENT. Research and development expenses include costs for the development of new technologies and products. These expenses include materials, salaries, benefits, occupancy costs and related expenses for development personnel. We expense research and development costs as incurred. We expect to increase spending on research and development in order to develop new products and applications.

PATENT LITIGATION COSTS. Patent litigation costs include actual and estimated legal fees associated with litigation in connection with our intellectual property, particularly the Finnigan litigation. These costs may increase depending upon the outcome of the current legal proceedings.

24

Results of Operations

The following table sets forth certain items included in our results of operations for the three years ended December 31, 1997, 1998 and 1999 expressed as a percentage of our net revenue for these periods.

                                                                        Year Ended
                                                                       December 31,
                                                              ------------------------------
                                                                1997       1998       1999
                                                              --------   --------   --------
Revenue:
  Product revenue...........................................    96.3%      95.1%      93.7%
  Other revenue.............................................     3.7        4.9        6.3
                                                               -----      -----      -----
      Net revenue...........................................   100.0      100.0      100.0
Costs and operating expenses:
  Cost of product revenue...................................    48.0       46.6       48.9
  Sales and marketing.......................................    14.0       17.6       17.5
  General and administrative................................     4.2        5.3        5.3
  Research and development..................................    17.9       30.9       23.4
  Patent litigation costs...................................    10.8        0.0        0.8
                                                               -----      -----      -----
      Total costs and operating expenses....................    94.9      100.4       95.9
                                                               -----      -----      -----
Operating income (loss) from continuing operations..........     5.1       (0.4)       4.1
Other income................................................     0.3        0.4        0.2
Interest expense, net.......................................    (1.5)      (2.1)      (1.4)
                                                               -----      -----      -----
Income (loss) from continuing operations, before income
  taxes.....................................................     3.9       (2.1)       2.9
Provision for income taxes..................................     3.2        0.0        1.5
                                                               -----      -----      -----
Income (loss) from continuing operations....................     0.7       (2.1)       1.4
Income from discontinued operations, net of income taxes....     0.4        0.9        0.5
                                                               -----      -----      -----
Net income (loss)...........................................     1.1%      (1.2)%      1.9%
                                                               =====      =====      =====

Year Ended December 31, 1999 Compared to Year Ended December 31, 1998

PRODUCT REVENUE. Product revenue increased $20.4 million, or 51.0%, to $60.6 million in 1999 compared to $40.2 million in 1998. The increase in product revenue in 1999 was fueled by strong demand for our life science products by industrial, academic and government customers. Additionally, $8.1 million of our 1999 product revenue was due to the completion of a large non-recurring substance detection contract.

OTHER REVENUE. Other revenue increased $2.1 million, or 98.6%, to $4.1 million in 1999 compared to $2.0 million in 1998. This increase was primarily due to additional grant funding for early stage research and development from various governmental agencies. While we historically have obtained significant funding under grant awards for early-stage research and development activity, this funding may be significantly reduced in the future.

COST OF PRODUCT REVENUE. Cost of product revenue increased $11.9 million, or 60.7%, to $31.6 million in 1999 compared to $19.7 million in 1998. The gross margin on product revenue was 47.8% in 1999 as compared to 51.0% in 1998. The decrease in gross margin is due primarily to lower substance detection and pathogen identification product revenue, which historically has had higher gross margins than our life science systems. We are seeking to

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improve our gross margin by developing new, more integrated systems and higher margin consumables for the life science market. In addition, we have redesigned our next generation systems to reduce the cost of product revenue.

SALES AND MARKETING. Sales and marketing expenses increased $3.9 million, or 52.6%, to $11.3 million in 1999 compared to $7.4 million in 1998. The increase was due to sales commissions and bonuses earned by our direct sales force as a result of an increase in the number of units sold and the expansion of our global distribution capabilities. The increase was also due to an increase in sales personnel and the associated recruiting, training, travel, commissions and office space costs necessary to support a larger sales organization. We expect that sales and marketing capabilities expenses will continue to increase in the future as we further expand our global distribution and introduce new products.

GENERAL AND ADMINISTRATIVE. General and administrative expenses increased $1.2 million, or 54.2%, to $3.4 million in 1999 compared to $2.2 million in 1998 as we continued to expand our financial and administrative infrastructure. We expect general and administrative expenses to increase as we continue to expand our administrative infrastructure to support the anticipated growth of our business, including expenses associated with being a public company.

RESEARCH AND DEVELOPMENT. Research and development expenses increased $2.1 million, or 16.0%, to $15.1 million in 1999 compared to $13.0 million in 1998. The increase in 1999 spending was principally due to new products introduced in March 2000. We expect to increase spending on research and development in order to continue to develop new products and applications. We also expect to make additional research and development investments in connection with our acquisition of ProteiGene.

PATENT LITIGATION COSTS. Patent litigation costs were $537,817 in 1999. This increase reflects a revised estimate of our legal costs associated with our intellectual property litigation. We may incur additional litigation costs in 2000, primarily due to the Finnigan litigation.

INTEREST EXPENSE, NET. Interest expense increased $6,853, or 0.8%, to $907,682 in 1999 compared to $900,829 in 1998. The interest expense is the result of our long and short-term borrowings from banks in the United States and Germany.

PROVISION FOR INCOME TAXES. Provision for income taxes were $986,887 in 1999 compared to $0 in 1998. The effective tax rate in 1999, was 53.0% which reflected a blended tax rate from the various countries in which we operate. In 1999 we benefited from utilization of tax loss carryforwards in Germany. In the United States, we were unable to recognize a tax benefit on our loss. There was no income tax expense in 1998 as a result of the loss for the year.

INCOME FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES. Income from discontinued operations net of income taxes decreased $9,937, or 2.6%, to $373,477 in 1999 compared to $383,414 in 1998. Income from discontinued operations is related to the disposal of our infrared sales group in March 2000.

Year Ended December 31, 1998 Compared to Year Ended December 31, 1997

PRODUCT REVENUE. Product revenue decreased $9.0 million, or 18.5%, to $40.2 million in 1998 compared to $49.2 million in 1997. The decrease in product revenue in 1998 compared to

26

1997 was primarily due to the completion of a significant substance detection and pathogen identification production contract in 1997. The growth in product revenue in our life science business did not entirely offset this decrease.

OTHER REVENUE. Other revenue increased $171,442, or 9.1%, to $2.0 million in 1998 compared to $1.9 million in 1997. This increase was due to additional grant funding for early-stage research and development grants from various governmental agencies.

COST OF PRODUCT REVENUE. Cost of product revenue decreased $4.8 million, or 19.8%, to $19.7 million in 1998 compared to $24.5 million in 1997. The gross margin of product revenue was 51.0% in 1998 over 50.2% in 1997. The increase in gross margin is primarily due to efficiencies that we introduced to the production process.

SALES AND MARKETING. Sales and marketing expenses increased $256,788, or 3.6%, to $7.4 million in 1998 compared to $7.2 million in 1997. Sales and marketing expenditures were consistent with those of the prior year.

GENERAL AND ADMINISTRATIVE. General and administrative expenses increased $92,802, or 4.4%, to $2.2 million in 1998 compared to $2.1 million in 1997. General and administrative expenditures were consistent with those of the prior year.

RESEARCH AND DEVELOPMENT. Research and development expenses increased $3.8 million, or 42.4%, to $13.0 million in 1998 compared to $9.2 million in 1997. The increase in 1998 spending was due to an increase in the number of engineering and development personnel and the associated recruiting, training and laboratory space necessary to support the larger development team.

PATENT LITIGATION COSTS. In 1997, we increased by $5.5 million, our reserve for all litigation costs we are likely to incur in connection with our defense against Finnigan's patent infringement litigation, including appeals. In 1998, we did not increase our estimate for these costs.

INTEREST EXPENSE, NET. Interest expense increased $157,630, or 21.2%, to $900,829 in 1998 compared to $743,199 in 1997. The interest expense is the result of our long and short-term borrowings from banks in the United States and Germany.

PROVISION FOR INCOME TAXES. Due to the net loss in 1998, we had no provision for income taxes. In 1997, the effective tax rate was 82.1%, which reflects an increase in statutory rates due to a non-recurring tax assessment in Germany.

INCOME FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES. Income from discontinued operations net of income taxes increased $174,563, or 83.6%, to $383,414 in 1998 compared to $208,851 in 1997. Income from discontinued operations is related to the disposal of our infrared sales group in March 2000.

Liquidity and Capital Resources

Presently, we anticipate that our existing capital resources and the expected proceeds from this offering will meet our operating and investing needs through the end of 2001. Historically, we have financed our growth through a combination of cash provided from operations, debt financing and issuance of common stock. Cash provided from operating activities is our primary source of liquidity. We generated $5.4 million in cash flow from operations during 1999, used $6.5 million in 1998 and generated $12.7 million in 1997.

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We used $4.4 million of cash in 1999, $2.9 million in 1998 and $3.9 million in 1997 for capital expenditures. Such capital expenditures were made to improve productivity and expand manufacturing capacity. We expect to continue to make capital investments focused on enhancing the efficiency of our operations and supporting our growth.

In August 1999, we entered into a revolving line of credit with Citizens Bank in the United States in the amount of $2.5 million, of which $1.0 million was outstanding as of December 31, 1999. This line, which is secured by portions of our inventory, receivables and equipment in the United States, is used to support working capital and expires July 31, 2001. We also maintained revolving lines of credit in 1998 and 1999 of approximately $4.2 million and $6.2 million, respectively, with German banks, of which $1.5 million was outstanding as of December 31, 1999. Our German lines of credit are secured by a portion of our inventory and receivables in Germany and are renewable in June 2000. In 1998 we raised $5.8 million from the issuance of our common stock which was used to acquire the stock of our affiliate, Bruker Daltonik GmbH.

No material capital expenditure commitments were outstanding as of December 31, 1999. Our future capital uses and requirements depend on numerous factors, including our success in selling our existing products, our progress in research and development, our ability to introduce and sell new products, our sales and marketing expenses, our need to expand production capacity, costs associated with possible acquisitions, expenses associated with unforeseen litigation, regulatory changes, and competition and technological developments in the market.

Impact of Foreign Currencies

We sell our products in many countries and a substantial portion of our sales and a portion of our costs and expenses are denominated in foreign currencies, especially in Euro. In 1999, the U.S. dollar strengthened against the Euro, and in 1998, the U.S. dollar strengthened against the German mark. In both cases, this reduced our consolidated revenue growth rate, as expressed in U.S. dollars. In addition, the currency fluctuations resulted in a foreign currency translation gain of $0.6 million in 1998 and a loss of $1.3 million in 1999, which are included as a component of accumulated other comprehensive income (loss) on our balance sheets.

Historically, our realized foreign exchange gains and losses have not been material. Accordingly, we have not hedged our foreign currency position in the past. However, as we expand our sales internationally, we plan to evaluate our currency risks and we may enter into foreign exchange contracts from time to time to mitigate foreign currency exposure.

Inflation

We do not believe inflation has had a material impact on our business or operating results during the periods presented.

Recent Accounting Pronouncements

In June 1998, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 133, "Accounting for Derivative Instruments and Hedging Activities." The provisions of the statement require the recognition of all derivatives as either assets or liabilities in the statement of financial position and the measurement of those instruments at fair value. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation. The Company is required to implement the statement in the first quarter of fiscal 2001. We do not believe that this new accounting standard will have a material impact on our financial statements.

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BUSINESS

Overview

Bruker Daltonics is a leading developer and provider of innovative life science tools based on mass spectrometry. Our substantial investment in research and development allows us to design, manufacture and market a broad array of products intended to meet the rapidly growing needs of our diverse customer base. Our customers include pharmaceutical companies, biotechnology companies, agricultural biotechnology companies, molecular diagnostics companies, academic institutions and government agencies.

Mass spectrometers are sophisticated devices that provide highly accurate molecular information. Our mass spectrometry-based systems often combine automated front-end sample preparation robots, advanced mass spectrometry instrumentation, reagent kits and other consumables, and bioinformatics software. Our systems offer integrated solutions for applications in multiple existing and emerging markets including genomics and proteomics, metabolic and biomarker profiling, drug discovery and development, molecular assays and diagnostics, molecular and systems biology and basic medical research.

We market our life science systems both through our direct sales force and through strategic distribution arrangements with Agilent Technologies, PerkinElmer, Sequenom, MWG-Biotech and others. We are also a worldwide leader in supplying mass spectrometry-based systems for substance detection and pathogen identification in security and defense applications.

Industry Background

We design our products to address the rapidly evolving needs of the life science industry. Public and private efforts to sequence the entire human genome have led to advances that are fueling further investment in the discovery and identification of single nucleotide polymorphisms, or SNPs, and other forms of genetic variation. These developments, combined with other advances in combinatorial chemistry and basic medical research, are spurring growth in the following rapidly developing and emerging areas:

- PHARMACOGENOMICS, which uses genetic and genomic information to predict the response of individual patients and patient populations to drugs;

- PERSONALIZED MEDICINE, which seeks to apply inexpensive, rapid molecular diagnostic tests, or assays, to profile a patient's genetic composition and enable the prescription of individualized drug therapy;

- PROTEOMICS, which involves the large-scale separation, identification and characterization of proteins in order to understand how proteins are created based on the information contained in genes;

- NEW METHODS OF DRUG DISCOVERY, which are based on the high-throughput screening of large numbers of small organic compounds synthesized through combinatorial chemistry against large numbers of targets identified through genomics and proteomics;

- BIOMARKER DETECTION, OR BIO-BARCODING, which develops rapid and sensitive assays for a broad range of cell and tissue types for applications including infectious disease detection, human tissue assessment, agricultural phenotype differentiation and pathogen identification, even when the molecular mechanisms are not understood or the genomic sequence is not available; and

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- METABOLIC PROFILING, OR METABOLOMICS, which analyzes the levels of metabolites present in a cell or in biological fluids to draw correlations between disease states, genetic modifications and variations in metabolite levels.

In addition, increased levels of funding for basic medical research have fueled demand by universities, medical schools and government agencies for sophisticated bioanalytical systems, such as mass spectrometers. Funding has also increased for substance detection and pathogen identification systems for security and defense applications.

LIMITATIONS OF ALTERNATIVE LIFE SCIENCE TOOLS

Many of the bioanalytical tools available today, other than mass spectrometry systems, have significant limitations when used for applications including the detection of genetic variation, pharmacogenomics, proteomics, drug discovery and biomarker detection. These limitations include lack of throughput to accommodate the volume of analysis required, lack of automation, time-consuming sample preparation and insufficient accuracy of the resulting data. For example, the two leading methods traditionally used for DNA sequencing and expression profiling are electrophoresis and hybridization. The error rate of these techniques can increase the cost, complexity and time involved in completing more demanding analyses.

Traditional protein science tools including Edman sequencing and two-dimensional gel separations are time consuming, relatively inaccurate and labor intensive. Additionally, many alternative life sciences tools can only be utilized by expert scientists. For other emerging applications including metabolic profiling and rapid biomarker detection, we believe there presently are no automated, sensitive and accurate alternative tools available other than mass spectrometry-based systems.

Increasingly, life science companies are looking to solutions that address the limitations inherent in these alternative tools.

MASS SPECTROMETRY

Mass spectrometers are devices for measuring the mass, or weight, of a molecule. Mass spectrometry systems employ an ionization source which creates charged molecules and a mass separation/detection component which separates these charged molecules on the basis of mass to detect their presence and quantity. Mass spectrometry has been used in physics and chemistry for over fifty years. Over the past fifteen years, mass spectrometry has emerged as a powerful research tool in the life sciences. For example, mass spectrometers can determine the identity, amount, structure, sequence and other biological properties of small molecules, like drug candidates and metabolites, as well as large biomolecules, like proteins or DNA.

While highly accurate, mass spectrometers historically have been limited by the time and skill required to prepare samples, conduct each measurement and analyze the data.

Our Solutions

Our product lines integrate sophisticated mass spectrometers with automated sample preparation and measurement, and, where appropriate, bioinformatics software to address many of the bioanalytical and bioinformatics needs of the life sciences industry across a broad range of applications. Our products have particular application to:

- genetic variation analysis, including such evolving areas as pharmacogenomics and personalized medicine;

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- proteomics;

- metabolomics;

- drug discovery based on high-throughput screening and combinatorial chemistry; and

- drug development.

Automated high-throughput mass spectrometry systems offer significant advantages over other bioanalytical tools in these emerging and rapidly changing markets. Our automated systems allow our customers to generate and evaluate large volumes of accurate, high-quality data on a cost-effective basis. We believe that this enhanced throughput and high-quality data improves our customers' ability to apply bioinformatics to validate lead targets, understand disease pathways and analyze lead compounds. Our customers also use our products in molecular biology and other basic medical research. In addition, our automated, integrated mass spectrometry technology forms the basis of our substance detection and pathogen identification products used in security and defense markets.

Our life science systems are based on four core mass spectrometry technologies. Building on these core technologies, we offer a wide range of systems that address key analytical needs in multiple applications across the life sciences industry. We believe that our products offer the following advantages to our customers:

HIGH DEGREE OF AUTOMATION. Our automated sample preparation and measurement technology and sophisticated bioanalytic software allow our customers to process high sample volumes with reduced reliance on highly-trained scientific personnel.

INTEGRATED SOLUTIONS. We provide our customers with complete bioanalytical solutions by integrating our mass spectrometry products with front-end sample preparation, purification and separation methods, reagent kits and other consumables and data interpretation bioinformatics software.

ACCURATE RESULTS. Our automated mass spectrometry systems generate large volumes of highly accurate data with the selectivity and sensitivity our customers demand. The high sensitivity of our products enables our customers to pursue miniaturization and analysis of smaller samples, including what is known as the lab-on-a-chip approach. The accuracy of the results reduces the need for repeat analysis to eliminate errors.

INCREASED PRODUCTIVITY. Our high-throughput products are designed to allow our life science customers to increase productivity by generating more results in a shorter time period.

COST EFFICIENCY. We have achieved performance advances with our products that are designed to result in increased information per analysis at a significantly lower cost per analysis for our customers.

Our Strategy

Our strategy is to continue to be a leading provider of mass spectrometry and related systems for use in life sciences, as well as in substance detection and pathogen identification. Key elements of our strategy include:

PROVIDE A BROAD ARRAY OF TOOLS FOR A WIDE RANGE OF APPLICATIONS. In life sciences, our strategy is to offer a broad range of products that provide end-to-end solutions for applications in existing and emerging markets. Our longer term strategy is to expand our enabling life science tools beyond our current mass spectrometry-based product lines, and to

31

extend our position as a leading provider of biological mass spectrometers to related bioinformation business opportunities. We plan to selectively evaluate new life science markets to which we may apply our core technologies and to continue to develop and market our mass spectrometry systems for substance detection and pathogen identification.

DEVELOP NEW PLATFORMS, ENHANCED PRODUCTS AND NEW APPLICATIONS. We plan to continue our substantial investment in internal research and development. As a result of this investment, in the past year we introduced an entirely new technology platform, four next generation mass spectrometers, two new consumable product lines and two bioinformatics software packages. We expect our collaborations with key industrial and academic customers to continue to play a strategic role in our research and development efforts and to assist us in identifying and anticipating opportunities for enhanced products and emerging applications.

BUILD ALLIANCES AND PURSUE ACQUISITIONS. We plan to continue to co-develop selected products with strategic partners, especially when these alliances expand our product lines and extend our marketing reach. As an example, our collaboration with Agilent recently resulted in the introduction of two bench-top ion trap instruments. We also intend to pursue strategic acquisitions to extend our technology base. For example, in the past year, we acquired ProteiGene and Viking to expand our biomarker and substance detection technologies, respectively.

GENERATE RECURRING REVENUE. Our consumables and product service and support provide an opportunity to generate recurring revenue. We seek to develop additional consumables which enhance the ease of use and productivity of our tools. For example, our reagents and assay kits make sample preparation easier for our customers. We seek to increase recurring revenue from post-warranty service to our growing industrial customer base as well as from training and applications support.

DEVELOP AND EXPAND OUR BIOINFORMATION BUSINESS. We intend to expand our presence in the bioinformation field through our wholly-owned subsidiary, ProteiGene. We expect to create proprietary databases which our customers can access by paying subscription fees, to collaborate in drug discovery with customers in return for milestone and product royalty payments, and to offer paid-for technology access partnerships to life science companies. We intend to deploy our automated high-throughput mass spectrometry-based discovery tools in an industrial-biology information production operation.

LEVERAGE OUR INTELLECTUAL PROPERTY. We expect to continue to pursue an intellectual property strategy of obtaining extensive patent protection. As of April 10, 2000, we owned or exclusively licensed 76 issued U.S. patents and 29 pending U.S. patent applications as well as 105 issued foreign patents and 77 pending foreign patent applications. We believe that maintaining extensive intellectual property rights allows us to maintain a competitive advantage through protecting access to key technologies. Where appropriate, we may pursue an active licensing program to generate recurring revenue.

Our Products

MASS SPECTROMETRY

We base our life science solutions on four core mass spectrometry technology platforms which include:

- matrix-assisted laser desorption ionization, or MALDI, time-of-flight mass spectrometry;

- electrospray ionization, or ESI, time-of-flight mass spectrometry;

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- Fourier transform mass spectrometry; and

- ion trap mass spectrometry.

Time-of-Flight Mass Spectrometers measure mass based on the time it takes for charged molecules to travel from the ionization source to the detection component. These mass spectrometers currently have the highest sample throughput and mass range of any mass spectrometer for use in the fields of genomics and proteomics. Our time-of-flight mass spectrometry solutions make full use of this potential for increased speed by automating the analysis, from initial sample preparation to final bioinformatics data mining. Our time-of-flight solutions combine high sensitivity, accuracy and throughput to generate large volumes of accurate raw data for SNP detection and proteomics.

Our life science tools include both MALDI and ESI time-of-flight instruments.

MALDI TIME-OF-FLIGHT MASS SPECTROMETERS offer a laser-based ionization process of solid samples that combines large volume sample throughput with high mass range and significant sensitivity. Our MALDI time-of-flight mass spectrometers are useful for (a) SNP analysis; (b) genotyping; (c) personalized medicine; (d) forensics; (e) proteomics and protein function analysis;
(f) protein, antisense and peptide analysis for drug discovery and development; and (g) fast cell and tissue biomarker detection. We offer three MALDI time-of-flight instruments:

REFLEX III-TM-. Our top-of-the-line MALDI time-of-flight instrument offers modular research flexibility and automated sampling combined with high sensitivity, resolution and accuracy.

BIFLEX III-TM-. The BIFLEX III provides high-end performance with high throughput for industrial biology and drug discovery applications. Sequenom uses this system in its industrial genomics MassArray system, and MWG-Biotech is integrating it into a medium-throughput SNP detection system.

OMNIFLEX-TM-. Our first bench-top MALDI time-of-flight, introduced in March 2000, is a walk-up multi-user instrument used in general-purpose mass spectrometry laboratories. The OmniFLEX combines sensitivity, resolution and accuracy, for a wide variety of routine and higher-end applications, with a lower price than our other two products described above. We co-market this product with PerkinElmer.

These products utilize our proprietary AnchorChip microarrays, which employ patented microfluidics technology to improve sensitivity and reduce analysis time per sample.

ESI TIME-OF-FLIGHT MASS SPECTROMETERS offer a non-destructive ionization process, rapid data acquisition and a high mass range. ESI time-of-flight mass spectrometers are useful for (a) identification, protein analysis and functional complex analysis in proteomics and protein function; (b) molecular identification in metabolomics and drug metabolite analysis; (c) combinatorial chemistry high-throughput screening, or HTS; and (d) fast liquid chromatography mass spectrometry, or LC/MS, in drug discovery and development.

BIOTOF II-TM-. We introduced our BioTOF II in March 2000. Our system offers enhanced resolution and improved mass accuracy beyond what we believe is currently achievable with other ESI time-of-flight systems.

FOURIER TRANSFORM MASS SPECTROMETERS utilize high-field superconducting magnets to offer the highest resolution, selectivity and accuracy currently achievable in mass spectrometry. Our systems based on this technology often eliminate the need for time-consuming separation techniques in complex mixture analyses. In addition, our systems can

33

fragment molecular ions to perform exact mass analysis on all fragments to determine molecular structure. Fourier transform mass spectrometers are useful for (a) the study of the structure and function of biomolecules including proteins, DNA and natural products; (b) complex mixture analysis including combinatorial libraries; (c) high-throughput proteomics and metabolomics; and
(d) high-throughput drug screening.

APEX III-TM-. Our APEX III product line offers a choice of four magnetic field strengths. An increase in field strength improves resolution, selectivity and accuracy. These products allow a wide range of research capabilities while maintaining simplicity of operation. Our recent software and automation developments allow us to offer high-throughput, easy-to-use systems.

ION TRAP MASS SPECTROMETERS measure all ions simultaneously which improves sensitivity relative to older quadrupole mass spectrometers. Ion trap mass spectrometers are useful for (a) sequencing and identification based on structural analysis; (b) quantitative liquid chromatography mass spectrometry;
(c) identification of combinatorial libraries; and (d) generally enhancing the speed and efficiency of the drug discovery and development process.

ESQUIRE3000-TM-. Our esquire3000 ion trap mass spectrometer combines our patented ion trap technology with ion source and liquid chromatography technology from Agilent. It offers performance benefits over other ion trap systems, including software integration with Agilent separation systems, faster scan rates, higher sensitivity, a wider mass range and a simple Windows NT user interface. We also manufacture a related product, the LC/MSD-trap, which is distributed by Agilent.

CONSUMABLES

We sell consumables for processing, purifying and preparing samples prior to mass spectrometric analyses. Additionally, our systems for substance detection and pathogen identification use consumables for sample collection. Consumables will provide an increasing recurring revenue stream as our installed systems base grows. Our consumables include:

Product                                Description
-------------------------------------  ------------------------------------------------------------
AnchorChips                            Microarrays that increase the sensitivity of MALDI analysis,
                                       improve automation and minimize reagent consumption

GenoPureDS kit                         Purifies DNA prior to mass spectrometric analysis

GenoPureOligo kit                      Purifies oligonucleotides, or DNA fragments, prior to
                                       analysis

Silicon wheels                         Sample collection device for substance detection

Quartz tubes                           Sample processing device for pathogen identification

Dryers and filters                     Air dryers and filters for our ion mobility spectrometers

AUTOMATION AND SEPARATION PRODUCTS, TRAINING AND SERVICES

We sell a broad array of related products and services with our initial system sales and during a product's lifetime. For substance detection systems, we have developed training

34

products, including complete system simulator installations. We offer post-warranty service on either a pre-paid or per-call basis and sell repair and replacement parts for our growing installed systems base. Our related products include:

Product                                Description
-------------------------------------  ------------------------------------------------------------
Reconnaissance Simulator               Full-function systems simulator including simulation of
                                       operational conditions

MM-1 Trainer                           Learning product simulating the functionality of an MM-1
                                       mass spectrometer

HP1100 and 3D-CE                       Separation products family, including liquid chromatograph,
                                       combinatorial chemistry accessory, capillary liquid
                                       chromatograph and capillary electrophoresis system --
                                       purchased from Agilent

MAP II and II/8                        Single-needle and high-throughput eight-needle sample
                                       preparation robots for MALDI -- adaptation of Gilson
                                       technology

AutoXecute                             Automation software for use with our time-of-flight systems

BIOINFORMATICS AND SOFTWARE

We have introduced automated control software to integrate separation devices and robotics into our solutions. In addition, we provide bioinformatics software to generate useable information from large volumes of raw data. Finally, we offer intuitive data acquisition and analysis software on a Windows NT platform to make our systems accessible to non-experts. Our related products include:

Product                                Description
-------------------------------------  ------------------------------------------------------------
HyStar NT                              Liquid chromatography mass spectrometry software to control
                                       Agilent and Waters liquid chromatography systems, Gilson
                                       robots, and the operation of an integrated liquid
                                       chromatography/nuclear magnetic resonance/mass spectrometry
                                       system

BioTools                               For biomolecule identification and sequencing

Mascot                                 Fast, automated web-enabled protein identification from
                                       protein databases--purchased from Matrix Science

AGCTools                               Interpretation software for DNA mass spectra for SNPs or
                                       other genetic variation

PolymerTools                           Interpretation software for mass spectra for synthetic
                                       polymer parameters

QuantAnalysis                          Software for quantification of metabolites and substances

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SUBSTANCE DETECTION AND PATHOGEN IDENTIFICATION

We sell a wide range of portable analytical and bioanalytical detection systems and related products. Our customers use these devices for nuclear, biological pathogen and chemical defense applications, anti-terrorism, law enforcement and process and facilities monitoring. Our substance detection and pathogen identification products use many of the same technology platforms as our life sciences products. For example, we developed our esquire products using the same ion trap technology used in our chemical and biological mass spectrometers. We also provide integrated, comprehensive detection suites which include our multiple detection systems, consumables, training and simulators. Our related products include:

Product                                Description
-------------------------------------  ------------------------------------------------------------
MM-1                                   Mobile mass spectrometer for automatic detection of chemical
                                       substances

CBMS                                   Mobile ion trap mass spectrometers for automated
                                       classification of biological pathogens and identification of
                                       chemical agents

RAID-16 and RAID-S                     Portable and stationary automated ion mobility detectors for
                                       chemical agents detection

SPME-RAID                              Trace detector for explosives

EM640 Series                           Transportable mass spectrometers for emergency response

Viking 573                             Portable gas chromatography mass spectrometer for law
                                       enforcement

RAPID II                               Long-range infrared detector for chemical substance clouds

SVG-2                                  Solid-state radiation detector

NIGAS                                  Non-intrusive neutron activation detector for chemical
                                       component analysis in closed containers

Research and Development

PRODUCT AND APPLICATIONS DEVELOPMENT. We commit substantial capital and resources to internal and collaborative research and development in order to provide innovative life science solutions to our customers. The following are a few examples of our recent research and development accomplishments:

- After a four-year development effort, we created a new technology platform for orthogonal time-of-flight mass spectrometry. In March 2000, we offered our second generation product derived from this ESI time-of-flight platform, the BioTOF II;

- In March 2000, we introduced various next-generation systems based on our existing Fourier transform mass spectrometry, ion trap mass spectrometry and MALDI time-of-flight technology platforms. These new systems typically had two-year development and engineering cycles. These products have fewer parts, lower production costs and improved price/performance ratios;

36

- We have recently commercialized our AnchorChip microarrays. These products incorporate our patented microfluidics technology which achieves greater sensitivity in MALDI analyses; and

- We developed our ion source, known as ZeroAdjust Nanospray-TM-, to solve ease of use and throughput constraints associated with traditional ESI sources at ultra low flow rates. This development increases throughput for proteomic applications.

GRANTS. Historically, we have been the recipient of various government grants. We recently completed a five-year Advanced Technology Program grant from the National Institute of Standards and Technology for the development of a Mass Tag DNA Diagnostic Mass Spectrometer. We also have several ongoing, multi-year research grants from the German Federal Government. We have generally retained at least non-exclusive rights to any items or improvements we develop under these grants.

Customers

We have a broad and diversified global life science customer base that included over 400 customers at December 31, 1999. Our life science customers accounted for approximately 60% of our net revenue in 1999. Our life science customer base includes pharmaceutical, biotechnology, agricultural biotechnology, molecular diagnostics and fine chemical companies, as well as commercial laboratories, university laboratories, medical schools and other not- for-profit research institutes and government laboratories. We sell our substance detection and pathogen identification products and services to defense departments and law enforcement and emergency response professionals. In fiscal 1999, our substance detection and pathogen identification customers represented approximately 40% of our net revenue.

During 1998 and 1999, the U.S. Department of Defense Edgewood Chemical Biological Center accounted for 12% and 13%, respectively, of our net revenue and the South Korean government (through its prime contractor Daewoo Heavy Industries) accounted for 18% and 15%, respectively, of our net revenue. Our production contract with the U.S. Department of Defense Edgewood Chemical Biological Center ended on March 31, 2000, and we do not currently anticipate that our net revenue attributable to either of these customers will account for greater than 10% of our net revenue in 2000.

Strategic Collaborations

We have several key technical collaborations and alliances for the development and distribution of new or existing products. These collaborations include:

AGILENT TECHNOLOGIES. In 1996, we commenced a collaboration with Agilent Technologies (formerly Hewlett Packard) to develop and distribute ion trap liquid chromatography mass spectrometry instrumentation. We manufacture and distribute our esquire3000 product, and we jointly manufacture a related ion trap product for distribution by Agilent. Under our agreement with Agilent, neither party can conduct joint ion trap development with any other party and each party can distribute its products without restriction.

PERKINELMER INSTRUMENTS. In March 2000, we began our alliance with PerkinElmer to leverage PerkinElmer's global distribution capability to co-market our OmniFlex time-of-flight products. We believe this alliance will advance expansion into new markets, including pharmaceutical drug development, protein, peptide and oligonucleotide product quality control, synthetic polymer manufacturing, and quality testing in the food and beverage industries.

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SEQUENOM. In 1997, we began an alliance with Sequenom to develop industrial genomics tools for high-throughput SNP analysis. Our BIFLEX III is the basis for a co-labeled system called SpectroScan-TM- which is an important component of the Sequenom MassARRAY system. Each party owns the rights to any developments it makes under this collaboration.

MWG-BIOTECH. In 1999, we began our alliance with MWG-Biotech to co-develop an integrated system for SNP analysis, including reagent kits, high-volume sample preparation systems and our BIFLEX III, MALDI time-of-flight system. The National Institute of Standards has selected this system to help establish a standard SNP database laboratory. Each party owns any developments it makes under this collaboration.

We have a number of other collaborations, including collaborations with Matrix Sciences and Variagenics for technology enhancements. We own all developments we make under these collaborations.

Sales and Marketing

MARKETING ACTIVITIES. Our primary marketing theme is "Enabling Life Science Tools Based on Mass Spectrometry." We emphasize our solutions and technology platforms rather than simply the provision of instruments. We pursue an active marketing program through a large number of activities throughout the year. Our key marketing vehicles include trade shows, advertising, our website, newsletters and related activities.

DIRECT SALES CHANNELS. During the last three years, we have committed significant resources to upgrade and expand our direct sales force and our distribution channels worldwide. We have direct sales coverage throughout most of the European Union, North America and much of the Pacific Rim. During the past three years, we have hired and trained more than forty professional technical sales staff for direct sales and marketing activities.

We have well-equipped application and demonstration facilities and qualified application personnel who assist customers and provide product demonstrations in specific application areas. We maintain our primary demonstration facilities in the United States (Massachusetts and California), Germany (Bremen and Leipzig), the United Kingdom and Japan. Demonstration systems and applications scientists are also available in Australia, France, Italy and Switzerland.

INDIRECT SALES CHANNELS. We have various international distributors and independent sales representatives, including in the countries of South Korea, Portugal and Israel and in the regions of Latin America and Eastern Europe. We have adopted a distribution business model where we engage in strategic distribution alliances with other companies to address certain market segments. Our primary distribution alliances are:

- We manufacture for Agilent an ion trap mass spectrometer, which they incorporate into their liquid chromatography mass spectrometry systems for distribution into various industrial markets.

- We sell high-throughput MALDI time-of-flight mass spectrometers through Sequenom into emerging industrial genomics markets for high-throughput SNP analysis.

- We sell BIFLEX MALDI time-of-flight mass spectrometry systems through MWG-Biotech for DNA/RNA applications, including SNP detection.

- We recently began co-marketing our OmniFLEX MALDI time-of-flight mass spectrometers with PerkinElmer in a variety of industrial market segments.

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Sales Cycle and Backlog

The typical sales cycle for our life science systems is three to six months for most product lines. However, the cycle can be in excess of a year when a customer must budget the product into an upcoming fiscal year. Substance detection and pathogen identification products can have multi-year sales cycles for large production contracts.

We typically ship ordered products within twelve months after receipt of the order. At December 31, 1998 and 1999, we had approximately $26.4 million and $30.1 million, respectively, in orders which had not yet been shipped and accepted by the customer.

Manufacturing

We manufacture and test the majority of our products in our three principal ISO 9001 registered manufacturing facilities located in the United States and Germany. We have considerable manufacturing flexibility at our various facilities, and each facility can manufacture multiple products at the same time. We maintain in-house key manufacturing know-how, technologies and resources. Our facilities incorporate environmental chambers, CE mark compliance test centers, clean room manufacturing for vacuum components, licensed facilities for handling closed radioactive sources, computer-aided laser cutting and vacuum welding. We maintain multiple suppliers for key components that are not manufactured in-house.

Intellectual Property

Our intellectual property consists of patents, copyrights, trade secrets, know-how and trademarks. Protection of our intellectual property is a strategic priority for our business. As of April 10, 2000, we owned or exclusively licensed 76 issued U.S. patents and 29 pending U.S. patent applications as well as 105 issued foreign patents and 77 pending foreign patent applications. We have exclusively licensed three patents, which cover time-of-flight mass spectrometry with improved resolution and accuracy, from Indiana University.

We believe our owned and licensed patent portfolio provides us with a competitive advantage. This portfolio permits us to maintain access to a number of key technologies. We license our owned patent rights where appropriate. We will enforce our patent rights against infringers if necessary.

The patent positions of life science tool companies involve complex legal and factual questions. As a result, we cannot predict the enforceability of our patents with certainty. In addition, we are aware of the existence from time to time of patents in certain countries which, if valid, could impair our ability to manufacture and sell our products in these countries.

We also rely upon trade secrets, know-how, trademarks, copyright protection and licensing to develop and maintain our competitive position. We generally require the execution of confidentiality agreements by our employees, consultants and other scientific advisors. These agreements provide that all confidential information made known during the course of a relationship with us will be held in confidence and used only for our benefit. In addition, these agreements provide that we own all inventions generated during the course of the relationship.

We are a party to various government contracts. Under some of these government contracts, the government may receive license or similar rights to intellectual property developed under the contract. However, under government contracts we enter we receive no less than non-exclusive rights to any items or technologies we develop.

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Scientific Advisory Board

We have established an international Scientific Advisory Board to advise us on strategic research and development and strategic marketing issues. The members of the Board include:

- Jean Futrell, Ph.D., Director of the Department of Energy's Environmental Molecular Sciences Laboratory in Richmond, Washington; former Chairman of Chemistry and Biochemistry at the University of Delaware.

- Steven A. Hofstadtler, Ph.D., Director of Drug Discovery Technology, ISIS Pharmaceuticals, Inc., Carlsbad, California.

- Joachim R. Wesener, Ph.D., Head of Mass Spectrometry at Bayer Central Research, Leverkusen; Board Member of German Society for Mass Spectrometry.

- Professor Helmut Meyer, University of Bochum, Germany; President of Protagen AG, Bochum, Germany.

- Professor Peter Derrick, University of Warwick, United Kingdom; Director of University of Warwick's Institute for Mass Spectrometry; Professor and Chairman of the Department of Chemistry.

- Gunther Heinrich, Ph.D., CEO and President of EPIDAUROS AG, Bernried, Germany.

We provide members of our Scientific Advisory Board a fee of $6,000 per year and options at fair market value for 1,500 shares of our common stock. These options vest in equal annual increments over the course of their three-year tenure. We also reimburse Scientific Advisory Board members for expenses reasonably incurred related to the services they provide us.

Competition

Our markets are highly competitive and we expect the competition to increase. Currently, we compete with a variety of companies along each of our product lines, including other companies that offer mass spectrometry-based systems. We believe that the principal competitive factors in our markets are technological applications expertise, product functionality, marketing expertise, distribution capability, proprietary patent portfolios, cost and cost effectiveness.

Our existing products and any products that we develop may compete in multiple, highly competitive markets. Many of our potential competitors in these markets have substantially greater financial, technical and marketing resources than we do. They may offer or succeed in developing products that would render our products or those of our strategic partners obsolete or noncompetitive. In addition, many of these competitors have significantly greater experience in the life sciences market. Our ability to compete successfully will depend on our ability to develop proprietary products that reach the market in a timely manner and are technologically superior to and/or are less expensive, or more cost effective, than other currently marketed products. Current competitors or other companies may possess or develop technologies and products that are more effective than ours. Our technologies and products may be rendered obsolete or uneconomical by technological advances or entirely different approaches developed by one or more of our competitors.

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Employees

As of April 10, 2000, we employed over 400 full-time employees, with approximately 80 employees in the United States and more than 320 employees located primarily in Europe. Over 100 of these employees hold doctorates in biology, chemistry or physics.

Facilities

Our three principal facilities incorporate manufacturing, research and development, application and demonstration, marketing and sales and administration functions. These are:

- a leased 25,000 square foot facility in Billerica, Massachusetts;

- an owned 50,000 square foot facility in Bremen, Germany; and

- an owned 50,000 square foot facility in Leipzig, Germany.

We lease additional centers for sales, applications and service support in Fremont, California; Coventry, United Kingdom (Bruker Daltonics Ltd.); Wissembourg, France (Bruker Daltonique S.A.); Stockholm, Sweden (Bruker Daltonics Scandinavia A.B.); Faellanden, Switzerland (Bruker Daltonics GmbH); Tsukuba, Japan (Nihon Bruker Daltonics K.K.); Beijing, People's Republic of China and Taipei, Taiwan.

Government Regulation

We possess low-level radiation licenses for our facilities in Billerica, Massachusetts and Leipzig, Germany. Some of our products, particularly in the detection area, are subject to enhanced levels of export controls from the United States and Germany. Apart from these two areas, we are not subject to direct governmental regulation other than the laws and regulations generally applicable to businesses in the jurisdictions in which we operate.

Legal Proceedings

FINNIGAN LITIGATION

Since December 31, 1996, we have been involved in patent litigation with a competitor, Finnigan, a subsidiary of ThermoQuest and an indirect subsidiary of Thermo Electron.

INTERNATIONAL TRADE COMMISSION INVESTIGATION AND APPEAL. In January 1997, Finnigan filed a complaint with the United States International Trade Commission alleging that our esquire mass spectrometer products which are based on our ion trap technology and a related product sold by our strategic partner, Agilent (formerly a division of Hewlett Packard), infringe Finnigan's U.S. Patents No. 4,540,884, or the `884 patent, and U.S. Patent Re. 34,000, or the `000 patent. In February 1998, an administrative law judge initially found that some claims of the `884 patent were not infringed, some claims of the `884 patent were invalid, and that the `000 patent was invalid. In April 1998, the Commission issued a final determination confirming the initial determination. Finnigan appealed the determination for the `884 patent only to the Court of Appeals for the Federal Circuit. In June 1999, this appeals court reversed the finding of invalidity of some claims of the `884 patent, but affirmed that our products did not infringe the `884 patent. The impact of this decision was to leave in effect the order of the Commission denying Finnigan the relief it sought.

PATENT INFRINGEMENT ACTION BY FINNIGAN IN UNITED STATES DISTRICT COURT. In December 1996, Finnigan brought suit in the United States District Court for the District of Massachusetts alleging that our esquire series of mass spectrometer products and a related product marketed by Agilent infringe two claims of the `000 patent and one claim of the `884

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patent. We have filed two motions for summary judgment. One motion seeks a ruling that the claim of the `884 patent is not infringed. The other seeks a ruling that the `000 patent is invalid. Finnigan has opposed these motions for summary judgment and cross-moved for summary judgment that the claim of the `884 patent covers the method of operation of our esquire mass spectrometers and the related Agilent product. A hearing on these motions is expected in June 2000.

OUR ANTITRUST ACTION AGAINST FINNIGAN AND OTHERS IN UNITED STATES DISTRICT COURT. In May 1997, we filed a complaint in the United States District Court for the District of Massachusetts alleging antitrust violations against Finnigan, ThermoQuest and Thermo Instruments, another subsidiary of ThermoElectron, based on Finnigan's actions in connection with several of its patents. In January 2000, Finnigan filed a motion to dismiss. We have opposed this motion. A hearing is scheduled for May 2000 on the motion to dismiss.

PATENT INFRINGEMENT ACTION BY FINNIGAN IN THE FEDERAL COURT IN DUSSELDORF, GERMANY. In March 1999, Finnigan brought suit in Federal Court in Dusseldorf, Germany alleging that our esquire series of mass spectrometer products and the related Agilent product infringe three Finnigan European patents. The court retained the claims alleging infringement in Germany but, on jurisdictional grounds, transferred the claims alleging infringement in the United Kingdom, France, Sweden and Switzerland to the Federal Court in Hamburg. In January and February 2000, the Dusseldorf court held hearings on the infringement actions. In March 2000, the court issued rulings that distribution and delivery of our esquire series of products and of the related Agilent product for use in Germany infringe two Finnigan patents. The court ordered us and Agilent to pay damages in an amount to be determined and stayed its consideration of the third patent pending the outcome of a nullity action we brought concerning the third patent. The court has not yet issued written explanations of the reasoning for its rulings. We expect that these explanations will be issued sometime in April or May 2000. It is our intention to appeal the ruling if there is a reasonable basis for an appeal. Under the court's order, if Finnigan elects to post a required bond, we and Agilent will be prevented from selling our ion trap devices in Germany. This restriction will continue until the Finnigan patents expire, in 2003 for one of the patents and in 2007 for the other, unless the patents are nullified, the infringement rulings are reversed on appeal, or we design around the Finnigan patents. The damages for our past sales of ion trap products in Germany to be determined by the Dusseldorf court are roughly estimated at $240,000, and the attorneys' fees and costs that we may be required to pay are roughly estimated at $105,000. The damages and costs that the Dusseldorf Court actually assesses may be more or less than the amounts estimated here.

PATENT INFRINGEMENT ACTION BY FINNIGAN IN THE FEDERAL COURT IN HAMBURG, GERMANY. As noted above, the Dusseldorf Court transferred to the Federal Court in Hamburg the claims alleging infringement in the United Kingdom, France, Sweden and Switzerland. In these proceedings the substantive patent law of each country will apply to the determination of the claims and defenses relating to infringement in each country, respectively. As of April 10, 2000, no proceedings have occurred in the Hamburg Court regarding these claims.

NULLITY ACTIONS AGAINST THE FINNIGAN PATENTS IN GERMANY. The same three Finnigan patents asserted in the Dusseldorf actions are also the subject of nullity actions we filed in the German Patent Court in Munich. In these actions the Munich Court is being asked to determine the validity of the three Finnigan patents as they apply in Germany. The Munich Court will not determine the validity of the patents as the patents apply in France or the

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United Kingdom. Hearings in the Munich nullity actions are anticipated to occur in July 2000, with decisions expected to follow some months later. If we prevail in the nullity actions, the rulings of the Dusseldorf Court will be withdrawn.

OUR PATENT INFRINGEMENT ACTION AGAINST FINNIGAN IN THE FEDERAL COURT IN DUSSELDORF, GERMANY. In late 1999, we filed a complaint in the Federal Court in Dusseldorf alleging that Finnigan's ion trap products infringe two of our European patents. Hearings are scheduled for September 2000. One of our two patents in this suit is the subject of a nullity action filed by Finnigan in the German Patent Court in Munich. A hearing date has not yet been set for the nullity action.

While we believe that our ion trap mass spectrometry products, including our esquire series and the product sold by Agilent, should ultimately be held not to infringe any claim of any valid Finnigan patent, we cannot predict the outcome of the Finnigan litigation. In 1996, 1997, 1998 and 1999, our sales of ion trap mass spectrometry products in Germany totaled $702,630, $727,276, $810,767 and $2.0 million, respectively. In 1996, 1997, 1998 and 1999, our sales of these products in other European countries totaled $448,561, $767,956, $1.8 million and $2.6 million, respectively. In 1996, 1997, 1998 and 1999, our sales of ion trap mass spectrometry products in the U.S. totaled $1.6 million, $1.5 million, $2.1 million and $3.6 million, respectively. In 1996, 1997, 1998 and 1999, total worldwide sales of our ion trap mass spectrometry products totaled $2.7 million, $3.2 million, $5.0 million and $8.2 million, respectively. Also, under our agreement with Agilent, we may be required to indemnify Agilent from any damages and expenses resulting from the Finnigan litigation. See "Risk Factors--Our success depends on our ability to operate without infringing or misappropriating the proprietary rights of others; and we are currently involved in several legal actions concerning technology for ion trap spectrometry with a competitor and various affiliates of the competitor, and a German court has decided that we have infringed two European patents of the competitor."

GENERAL

We may, from time to time, be involved in other legal proceedings in the ordinary course of business. We are not currently involved in any other pending legal proceedings that, either individually or taken as a whole, could materially harm our business, prospects, results of operations or financial condition.

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MANAGEMENT

Directors and Executive Officers

Our directors and executive officers and their respective ages and positions as of April 10, 2000 are as follows:

Name                                          Age                       Position
----                                        --------   ------------------------------------------
Frank H. Laukien, Ph.D. (1)...............     40      Chairman, President and Chief Executive
                                                       Officer

David E. Plunkett.........................     34      Chief Financial Officer and Treasurer

Dieter Koch, Ph.D.........................     60      Managing Director of Bruker Daltonik GmbH;
                                                       Managing Director
                                                       of Bruker Saxonia Analytik GmbH and
                                                       Director of Bruker Daltonics Inc.

Jochen Franzen, Ph.D. ....................     69      Managing Director, Bruker Daltonik GmbH

Hans-Jakob Baum...........................     47      Vice General Manager of Bruker Daltonik
                                                       GmbH

John Wronka, Ph.D. .......................     44      Vice President

Gary Kruppa, Ph.D. .......................     39      Vice President

Collin J. D'Silva (2).....................     43      Director

Timothy J. Hansberry (2)(3)...............     56      Director

William A. Linton (2)(3)..................     52      Director

Richard M. Stein (1)(3)...................     48      Director and Secretary

Bernhard Wangler (1)......................     49      Director


(1) Member of the executive committee

(2) Member of the audit committee

(3) Member of the compensation committee

FRANK H. LAUKIEN, PH.D. Dr. Laukien has been the Chairman, President and Chief Executive Officer of Bruker Daltonics since the inception of our predecessor company in February 1991. He has been a Managing Director of Bruker Daltonik GmbH since August 1997. He has also served as Chairman of Bruker AXS Inc., an affiliate of Bruker Daltonics, since October 1997 and as President of Bruker Instruments, Inc., an affiliate of Bruker Daltonics, since June 1997. He is a Professor of Mass Spectrometry at the University of Amsterdam. Dr. Laukien holds a B.S. degree from the Massachusetts Institute of Technology, as well as a M.A. and a Ph.D. in chemical physics from Harvard University.

DAVID E. PLUNKETT. Mr. Plunkett has been our Chief Financial Officer since December 1999 and Treasurer since June 1997. In June 1991, he joined Bruker Instruments, an affiliate of Bruker Daltonics, as Assistant Controller. Mr. Plunkett was the Controller of Bruker Instruments from December 1992 until December 1997. Since December 1997, Mr. Plunkett has also served as the Treasurer of Bruker Instruments. Mr. Plunkett holds a B.S. degree in accounting from Merrimack College.

DIETER KOCH, PH.D. Dr. Koch has been a Director of Bruker Daltonics since August 1997. He is a Managing Director of Bruker Daltonik GmbH, now a wholly-owned subsidiary of

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Bruker Daltonics, since June 1980. Dr. Koch has also been the Managing Director of Bruker Saxonia Analytik GmbH, now a subsidiary of Bruker Daltonik, since founding it in 1990. He is responsible for our substance detection and pathogen identification product lines. He holds M.S. and Ph.D. degrees in chemistry from the University of Cologne.

JOCHEN FRANZEN, PH.D. Dr. Franzen is a Managing Director of Bruker Daltonik GmbH and has held this position since June 1980. He is responsible for intellectual property and research activities at Bruker Daltonik GmbH. Prior to 1980 he served as Managing Director of Franzen Analysentechnik GmbH, a mass spectrometry manufacturing company. Dr. Franzen served as President of the German Society for Mass Spectrometry during 1997 and 1998. He holds an M.S. degree from the University of Mainz and a Ph.D. in physics from the Max-Planck Institute.

HANS-JAKOB BAUM. Mr. Baum has been a Vice General Manager of Bruker Daltonik GmbH since August 1999. He is responsible for sales and product applications. Mr. Baum joined Bruker Daltonik GmbH in June 1988 as a Product Manager. From January 1991 until August 1997, he was Sales Director of Bruker Daltonik. Before joining us, Mr. Baum was a Chemical Defense Officer in the German Army.

JOHN WRONKA, PH.D. Dr. Wronka has been our Vice President since June 1996. He is responsible for the general management of operations in the U.S. Dr. Wronka joined Bruker Instruments, an affiliate of Bruker Daltonics, in May 1989 as Mass Spectrometry Product Manager. He joined Bruker Daltonics as the Mass Spectrometry Division Manager in July 1995 and served as a Division Manager until June 1996. Prior to joining Bruker Instruments, Dr. Wronka was a Professor and Instrumentation Manager for Northeastern University. He holds a B.S. from St. Joseph's College and a Ph.D. in chemistry from the University of Delaware.

GARY KRUPPA, PH.D. Dr. Kruppa has served as our Vice President of the Fourier Transform Mass Spectrometry Division since October 1998. He joined Bruker Instruments, an affiliate of Bruker Daltonics, in November 1990 as an applications scientist. He joined Bruker Daltonics in December 1994, and from December 1994 until September 1998 he was a Product Manager. Before joining Bruker Instruments, he was a research scientist at Ciba-Geigy, now Novartis, a pharmaceutical and drug discovery company. Dr. Kruppa holds a B.S. degree from the University of Delaware and a Ph.D. in chemical physics from the California Institute of Technology.

COLLIN J. D'SILVA. Mr. D'Silva joined our board of directors in February 2000. Mr. D'Silva is the President and Chief Executive Officer of Transgenomic, Inc., a life science company involved in SNP discovery, in San Jose, California. Mr. D'Silva has held these positions since 1997. From 1988 to 1997, Mr. D'Silva was President and Chief Executive Officer of CETAC Technologies, Inc, a company designing instrumentation for elemental analysis. Mr. D'Silva holds a B.S. degree and a Masters in Industrial Engineering from Iowa State University.

TIMOTHY J. HANSBERRY. Mr. Hansberry joined our board of directors in February 2000. From August 1998 to January 2000, Mr. Hansberry was President and Chief Operating Officer of USTrust Bank and Vice Chairman and Chief Operating Officer of UST Corp. From December 1995 until August 1998, Mr. Hansberry was President and Chief Executive Officer of Affiliated Community Bancorp. From October 1992 until December 1995, he was President and Chief Executive Officer of Lexington Savings Bank. He is a Certified Public Accountant and holds a B.S. in management from Boston University. Mr. Hansberry also holds a Masters in Business Administration from Creighton University.

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WILLIAM A. LINTON. Mr. Linton joined our board of directors in February 2000. Mr. Linton is the Chairman and Chief Executive Officer of Promega Corporation, a DNA consumables company, and has held these positions since 1978. Mr. Linton received a B.S. degree from University of California, Berkeley in 1970.

RICHARD M. STEIN. Mr. Stein joined our board of directors in February 2000 and is our Secretary. Mr. Stein has been an attorney with Hutchins, Wheeler & Dittmar, a Boston-based law firm, since November 1992 and became a stockholder of the firm on January 1, 1993. He served as the managing stockholder of Hutchins, Wheeler & Dittmar from January 1995 until December 1997. Mr. Stein received a B.A. degree from Brandeis University in 1973 and a J.D. from Boston College Law School in 1976.

BERNHARD WANGLER. Mr. Wangler joined our board of directors in February 2000. Mr. Wangler has been a German tax consultant and principal partner with Kanzlei Wangler in Karlsruhe, Germany since July 1993. He has been a Certified Public Accountant in Germany since 1994. Mr. Wangler holds a Bachelor of Economics and Commerce degree and a Masters degree in Business Administration from the University of Mannheim, Germany.

Board Committees

The compensation committee of the board of directors of Bruker Daltonics is comprised of Messrs. Hansberry, Stein and Linton. The compensation committee reviews and evaluates the compensation and benefits of all of the officers of Bruker Daltonics, reviews general policy matters relating to compensation and employee benefits and makes recommendations concerning these matters to the board of directors. The compensation committee also administers Bruker Daltonics' stock option plan. See "--Benefit Plans."

The audit committee of the board of directors of Bruker Daltonics is comprised of Messrs. Hansberry, D'Silva and Linton. The audit committee reviews, with Bruker Daltonics independent auditors, the scope and timing of the auditors' services, the auditors' report on Bruker Daltonics' financial statements following completion of the audit, and Bruker Daltonics' internal accounting and financial control policies and procedures. In addition, the audit committee makes annual recommendations to the board of directors for the appointment of independent auditors for the ensuing year.

The executive committee of the board of directors of Bruker Daltonics is comprised of Messrs. Laukien, Stein and Wangler. The executive committee facilitates the day-to-day management of Bruker Daltonics. The executive committee handles all matters deemed appropriate from time to time by the Chairman, other than matters including the approval of any asset sale, merger, sale of securities or financing in excess of $5 million.

Election of Directors and Officers

Our board of directors consists of seven members. Our certificate of incorporation provides for a classified board of directors divided into three classes. The Class I directors' term of office will expire at the annual meeting of stockholders to be held in 2001, the Class II directors' term of office will expire at the annual meeting of stockholders to be held in 2002 and Class III directors' term of office will expire at the annual meeting of stockholders to be held in 2003. Messrs. Laukien and Koch will initially serve as Class I directors; Messrs. Stein, Wangler and D'Silva will initially serve as Class II directors; and Messrs. Hansberry and Linton will initially serve as Class III directors. At each annual meeting of stockholders, beginning with the 2001 annual meeting, the successors to directors whose terms will then expire will be elected to serve from the time of election and qualification until the third annual meeting following election and until their successors have been duly elected and qualified, or until

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their earlier resignation or removal, if any. To the extent there is an increase or reduction in the number of directors, increase or decrease in directorships resulting therefrom will be distributed among the classes so that, as nearly as possible, each class will consist of an equal number of directors. Two directors will be independent, as required by the rules of the Nasdaq National Market.

Executive officers are elected by, and serve at the discretion of, the board.

Compensation of Directors

Our current non-employee directors receive $10,000 per calendar year and an additional $5,000 per calendar year for each committee on which they serve. They are also reimbursed for the expenses they incur in attending meetings of the board or board committees. Although our directors are not entitled to any specified number of options as a result of their positions as directors, we have granted in the past, and intend to grant in the future, non-qualified stock options to our non-employee directors.

Compensation Committee Interlocks and Insider Participation

None of our directors serves as a member of the board of directors or compensation committee of any other company that has one or more executive officers serving as a member of our board of directors or compensation committee.

Executive Compensation

The following table sets forth the compensation earned by our Chief Executive Officer and each of our other most highly compensated executive officers (collectively, the "Named Executive Officers") during the year ending December 31, 1997, 1998 and 1999:

Summary Compensation Table

Name and Principal Position                                     Year     Salary ($)   Bonus ($)(1)
---------------------------                                   --------   ----------   ------------
Frank H. Laukien (2)........................................    1999        50,000       153,530
  Chairman, President and                                       1998             0       197,364
  Chief Executive Officer                                       1997             0       117,500

Dieter Koch (3).............................................    1999       117,104        36,493
  Managing Director, Bruker                                     1998       128,483        17,056
  Daltonik GmbH; Managing                                       1997       139,653            --
  Director, Bruker
  Saxonia Analytik GmbH

Jochen Franzen (3)..........................................    1999       106,755            --
  Managing Director, Bruker                                     1998       109,154            --
  Daltonik GmbH                                                 1997       107,914            --

John Wronka.................................................    1999        70,885       123,005
  Vice President                                                1998        68,488        75,886
                                                                1997        65,854        76,941

Hans-Jakob Baum (3).........................................    1999        93,683        32,680
  Vice General Manager of                                       1998        96,078        28,426
  Bruker Daltonik GmbH                                          1997        93,487        20,198


(1) Includes commissions paid.

(2) Frank H. Laukien's normalized salary for fiscal 2000 is $120,000.

(3) Amounts paid in Deutsch Mark and converted to United States Dollars based on the average conversion rate for the respective year.

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Benefit Plans

2000 STOCK OPTION PLAN

The 2000 Stock Option Plan, or the 2000 Plan, provides for the granting of incentive stock options to our employees and non-qualified options, as defined in Section 422 of the Internal Revenue Code, to our employees, directors, advisors and consultants. The 2000 Plan was adopted and approved by our directors and stockholders in February 2000. The 2000 Plan may be administered by our board of directors or by our compensation committee. Either of the board or the compensation committee has the authority to take the following actions:

(a) interpret and apply the 2000 Plan; and

(b) determine the eligibility of an individual to participate in the 2000 Plan.

Stock options are granted under stock option agreements which contain the vesting schedules of the stock options. Non-qualified stock options are granted with an exercise price of at least 50% of fair market value of the common stock on the date of grant, and incentive stock options are granted with an exercise price of at least 100% of the stock's fair market value on the date of grant. No incentive stock options may be granted to an employee who, at the time of the grant, owns more than 10% of the voting power or greater than 10% of a class of Bruker Daltonics' outstanding stock, unless the purchase price of the stock is not less than 110% of the stock's fair market value on the date of the grant and the option, by its terms, shall not be exercisable more than five years from the date it is granted.

Vested options may be exercised in full at one time or in part from time to time in amounts of 50 shares or more. The payment of the exercise price may be made as determined by the board or committee, and set forth in the option agreement, by delivery of cash or a check. Bruker Daltonics may delay the issuance of shares covered by the exercise of an option until the shares for which the option has been exercised have been registered or qualified under the applicable federal or state securities laws, or counsel for Bruker Daltonics has opined that the shares are exempt from the registration requirements of applicable federal or state securities laws.

The term of any option granted under the 2000 Plan is limited to either five or ten years, depending on the nature of the option holder. Upon the termination of an option holder's employment with Bruker Daltonics, his or her options will terminate no more than 90 days after that option holder leaves the employ of Bruker Daltonics. Options granted under the 2000 Plan are not transferrable other than by will or the laws of descent and distribution. The 2000 Plan may be amended by our board of directors; provided, however, that the board may not increase the number of shares reserved under the 2000 Plan without the consent of our stockholders.

The compensation committee may grant up to 20% of the shares reserved for option grants as restricted stock subject to repurchase rights rather than as stock options.

The number of shares reserved for issuance upon the exercise of options under the 2000 Plan is 2,220,000. As of April 10, 2000, 783,135 options were outstanding under the 2000 Plan. Options granted vest over a term established by the board of directors at the date of grant. None of these options begin to vest prior to March 1, 2001. The outstanding options have an exercise price ranging from $5.27 to $5.80 per share.

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On February 29, 2000 we granted the following officers incentive stock options to purchase the number of shares set forth below:

Frank H. Laukien............................................  25,000
Dieter Koch.................................................  25,000
Jochen Franzen..............................................  25,000
John Wronka.................................................  12,500
Hans-Jakob Baum.............................................  12,500

All of the above options have an exercise price of $5.27 per share except those granted to Frank Laukien which have an exercise price of $5.80 per share. None of these options are currently exercisable.

401(K) PLAN

We participate with our affiliates in a tax qualified employee savings plan which covers all of our employees in the United States who are at least 21 years old and have completed six months of eligible service. Eligible employees may defer up to 15% of their earnings as a salary deferral contribution to the plan, subject to the Internal Revenue Service's annual contribution and compensation limits. We currently match employee contributions dollar for dollar up to 3% of eligible compensation, which includes 100% of salary and 50% of commissions, after the second full plan year of the participant's employment. Our 401(k) plan is intended to qualify under
Section 401 of the Internal Revenue Code of 1986, as amended, so that contributions by employees and by us to our 401(k) plan, and income earned on plan contributions are not taxable to employees until withdrawn or distributed from the plan, and so that contributions, including employee salary deferral contributions, will be deductible by us when made. Our 401(k) also provides for discretionary profit sharing. We may contribute up to 3% of a participant's eligible compensation to profit sharing. In any given year that we conduct profit sharing, participants are eligible for 1% after three years of service, 2% after four years of service and 3% after five or more years of service.

Limitation of Liability; Indemnification of Directors and Officers

As permitted by Delaware General Corporation Law, we have included in our certificate of incorporation a provision to eliminate the personal liability of our directors for monetary damages for breach or alleged breach of their fiduciary duties as directors, other than breaches of their duty of loyalty, actions not in good faith or which involve intentional misconduct, or transactions from which they derive improper personal benefit. In addition, our by-laws provide that we are required to indemnify our officers and directors under certain circumstances, including those circumstances in which indemnification would otherwise be discretionary, and we are required to advance expenses to our officers and directors as incurred in connection with proceedings against them for which they may be indemnified. At present, we are not aware of any pending or threatened litigation or proceeding involving our directors, officers, employees or agents in which indemnification would be required or permitted, except that Jochen Franzen has been named as a defendant in the Finnigan litigation. We believe that our certificate of incorporation and by-law provisions are necessary to attract and retain qualified persons as directors and officers.

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PRINCIPAL STOCKHOLDERS

The following table sets forth information regarding the beneficial ownership of our common stock as of April 10, 2000, and as adjusted to reflect the sale of the common stock offered hereby by:

- each person (or group of affiliated persons) who is known by us to own beneficially more than 5% of the outstanding shares of our common stock;

- each of our directors who own our common stock;

- our executive officers listed in the "Summary Compensation Table" who own our common stock; and

- all directors and executive officers as a group.

Except as subject to community property laws where applicable, the persons named in the table have sole voting and investment power with respect to all shares of common stock shown as beneficially owned by them. Beneficial ownership and percentage of ownership are calculated in accordance with the rules of the Securities and Exchange Commission, or SEC.

                                                                                  Percentage of
                                                                                Shares Outstanding
                                                                              ----------------------
                                                          Number of Shares    Before the   After the
Name and Address of Beneficial Owner                     Beneficially Owned    Offering    Offering
------------------------------------                     ------------------   ----------   ---------
Named Executive Officers and Directors

Frank H. Laukien.......................................       9,100,000          20.0%           %
c/o Bruker Daltonics
15 Fortune Drive
Billerica, MA 01821

All Directors and Executive Officers as a Group(1).....       9,100,000          20.0%           %
  (12 persons, including the above)

5% Stockholders

Dirk D. Laukien........................................       9,100,000          20.0%           %
2634 Crescent Ridge Drive
The Woodlands, TX 77381

Isolde Laukien.........................................       9,100,000          20.0%           %
8 Brigham Road
Lexington, MA 02713

Joerg C. Laukien.......................................       9,100,000          20.0%           %
Uhlandstrasse IO
D-76275 Ettlingen-Bruchhausen
Germany

Marc M. Laukien........................................       9,100,000          20.0%           %
8 Crest View Road
Bedford, MA 01730


(1) As of April 10, 2000, David E. Plunkett, Dieter Koch, Ph.D., Jochen Franzen, Ph.D., Hans-Jakob Baum, John Wronka, Ph.D., Gary Kruppa, Ph.D., Collin J. D'Silva, Timothy J. Hansberry, William A. Linton, Richard M. Stein and Bernard Wangler were not beneficial owners of our common stock.

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RELATED TRANSACTIONS

Affiliation and Shareholders

Bruker Daltonics is affiliated with Bruker Physik AG, Bruker Optics, Inc., Bruker AXS Inc., Rhena Invest AG, Techneon AG, SBI Holding AG and their respective subsidiaries, collectively referred to as the Bruker affiliated companies, through common control at the shareholder level, as our current stockholders also own these entities.

Frank H. Laukien, Ph.D., the Chairman, President and Chief Executive Officer of Bruker Daltonics is also Chairman of the board of directors of Bruker AXS and director and President of Bruker Instruments, a Bruker affiliated company. Dr. Laukien is also a director of various Bruker affiliated companies in Canada, Belgium, and the Netherlands. Additionally, Dr. Laukien beneficially owns directly or indirectly more than 10% of the stock of each of the Bruker affiliated companies. Until March 31, 2000, he was also the Chief Executive Officer of Bruker AXS.

Dieter Koch, a director of Bruker Daltonics, is an officer in Bruker Daltonik GmbH, a subsidiary of Bruker Daltonics, and Bruker Saxonia Analytik GmbH, a subsidiary of Bruker Daltonik. Additionally, he owns 2% of Bruker Saxonia Analytik GmbH.

Richard M. Stein, a director of Bruker Daltonics, is a stockholder of Hutchins, Wheeler & Dittmar, a law firm which has been retained by Bruker Daltonics for over five years.

Bernard Wangler, a director of Bruker Daltonics, provided tax consulting services to our German affiliates for over five years. During fiscal 1997, 1998 and 1999, we paid his firm approximately $36,900, $142,800 and $170,000, respectively in exchange for these services.

Sharing Agreement

Bruker Daltonics entered into a sharing agreement with 13 of the Bruker affiliated companies, dated as of February 28, 2000. The Sharing Agreement provides for the sharing of specified intellectual property rights, services, facilities and other related items among the parties to the Agreement. The following description of the Sharing Agreement is a summary and is qualified in its entirety by the provisions of the Sharing Agreement, a copy of which has been filed as an exhibit to the registration statement of which this prospectus is a part.

Name

Pursuant to the terms of the Sharing Agreement, Bruker Analytik and Bruker Physik have granted to the other parties to the Sharing Agreement a perpetual, irrevocable, non-exclusive, royalty-free, non-transferable right and license to use the name "Bruker" in connection with the conduct and operation of their respective businesses, provided that the parties do not materially interfere with any other party's use of the name, do not take any action which would materially detract from the goodwill associated with the name and do not take any action which would cause a lien to be placed on the name or the parties' license rights. This license automatically becomes null and void with respect to a party if that party files, or has filed against it, a petition in bankruptcy, fails to comply with the relevant terms of the Sharing Agreement, suffers a major loss of its reputation in its industry or the marketplace or undergoes a change of control. However, once a party to the Sharing Agreement becomes a public company and issues stock in excess of $25 million to the public, it will not lose its license to the name Bruker in a subsequent change of control.

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Intellectual Property

The parties to the Sharing Agreement also generally share technology and other intellectual property rights, as they existed on or prior to February 28, 2000, subject to the terms of the Sharing Agreement. In addition, under the Sharing Agreement each party, including us, has agreed to negotiate with any other party who wishes to obtain an agreement permitting such party to make a broader use of the first party's intellectual property that was in effect on or prior to February 28, 2000. However, no party has any obligation to enter into these agreements. Bruker Daltonics has a written agreement in place with Bruker Optik defining the use, royalties and terms and conditions of the use of various technology and related intellectual property.

Distribution

In various countries, including Australia, Belgium, Canada, India, Italy, Netherlands, Mexico, Singapore, Spain and Thailand, Bruker Daltonics shares in the worldwide distribution network of Bruker affiliated companies. In 2000, we believe that less than 10% of our life sciences systems sales will be booked through affiliated international Bruker sales offices. The Sharing Agreement provides for the use of common distribution channels by the parties to the agreement. The terms and conditions of sale and the transfer pricing for any shared distribution will be on an arm's length basis as would be utilized in typical transaction with a person or entity not a party to the agreement. The Sharing Agreement also states that no common sales channel may have any exclusivity in any country or geographic area.

Services

We also share various general and administrative expenses for items such as umbrella insurance policies, retirement plans, accounting services and leases, with various affiliates. These services are charged among Bruker Daltonics and, the Bruker affiliated entities at arm's length conditions and pricing, according to individual Sub-Sharing Agreements.

In 1997, Bruker Instruments provided personnel, administrative and other services to us at a cost of $370,391, the estimated fair market value of these services. In 1998 various Bruker affiliated companies provided personnel, administrative and other services to us at a cost of approximately $227,000, the estimated fair market value of these services. In 1999, various Bruker affiliated companies and their subsidiaries provided personnel, administrative and other services, and subleased space to us at a cost of approximately $437,000, the estimated fair market value of these services.

We sublease our facility in Billerica, Massachusetts from Bruker Instruments. We paid rent of $125,123, $131,962 and $221,221 for increasing square footage at $8.85 per square foot, on a triple net basis for our sublease of this facility in 1997, 1998 and 1999, respectively. Bruker Instruments leases this facility from Umbrina Realty Trust. Frank H. Laukien, Dirk Laukien and Marc Laukien each own one third of the beneficial interest of Umbrina Realty Trust.

Purchases and Sales

We purchase subunits or components from various affiliates at arm's length commercial conditions and pricing. Examples include some FTIR components used in our substance and pathogen detectors, miscellaneous electronics boards used in Fourier transform mass spectrometers, sheet metal cabinets and some of the superconducting magnets used for Fourier transform mass spectrometers. In 1997, 1998 and 1999, we purchased components from our affiliates for $3,019,177, $3,913,662 and $3,208,752, respectively. However, a

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significant portion of these purchases were due to the discontinued operations of our previous infrared sales group. In 1997, 1998 and 1999, these purchases for the discontinued operations were $986,714, $1,712,242 and $1,645,089. As part of the Sharing Agreement, we will have a guaranteed continued supply of these subunits or components for at least seven years, with spare parts for at least 12 years, at commercially reasonable arm's length conditions and pricing.

We supply individual licenses to our HyStar software package to Bruker affiliated companies for resale as part of its liquid chromatography/nuclear magnetic resonance product offerings at commercially reasonable arm's length conditions and pricing. As part of the Sharing Agreement, we guarantee a continued supply of this software package (or its successor) for at least seven years. In 1997, 1998 and 1999 we sold to our affiliates products in the amounts of $14,256,695, $9,804,838 and $10,307,416, respectively. However, these sales were primarily for resales of our products by our affiliates as described above in the distribution paragraph. Since we incorporated our own direct sales subsidiaries in 1999, we believe that less than 10% of our future sales will be through our affiliates.

Other Transactions

In December 1999, we acquired 50,000 shares, or 49% of the stock, of ProteiGene from Frank H. Laukien. We paid $50,000 for this stock, the estimated fair market value and also the amount originally paid by Dr. Laukien for this stock.

We completed the sale of our analytical infrared sales group in March 2000 to Bruker Optik GmbH, our affiliate. The purchase price for this sale was $254,425, the net book value of the purchased assets and assumed liabilities.

Indebtedness

As of December 31, 1997, Bruker Daltonik GmbH had two demand loans outstanding aggregating $8,262,617 from Techneon AG, an affiliated company. The loans, which were secured by mortgages on our German real estate, accrued interest at 5.3% and 7.5%.

As of December 31, 1997, Bruker Daltonics had a $50,000 demand loan outstanding from Frank H. Laukien. The loan, which was unsecured, accrues interest at prime (8.5% at December 31, 1997).

As of December 31, 1999, we had no indebtedness to any of our affiliates.

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DESCRIPTION OF CAPITAL STOCK

Upon completion of the offering, our authorized capital stock will consist of 100,000,000 shares of common stock, $0.01 par value per share, of which shares will be outstanding ( shares if the Underwriters' over-allotment is exercised in full), and 5,000,000 shares of preferred stock, $0.01 par value per share, none of which will be outstanding at the time of this offering. The following description of our capital stock and certain provisions of our restated certificate of incorporation and by-laws is a summary and is qualified in its entirety by the provisions of the certificate of incorporation and by-laws, copies of which have been filed as exhibits to the registration statement of which this prospectus is a part.

Common Stock

Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of the stockholders, including the election of directors. Accordingly, holders of a majority of the shares of common stock entitled to vote in any election of directors may elect all of the directors standing for election if they choose to do so. The certificate of incorporation does not provide for cumulative voting for the election of directors. Holders of our common stock are entitled to receive ratably any dividends that may be declared by the board of directors out of funds legally available and are entitled to receive, pro rata, all assets of Bruker Daltonics available for distribution to such holders upon liquidation. Holders of our common stock have no preemptive, subscription or redemption rights.

Preferred Stock

We are authorized to issue "blank check" preferred stock, which may be issued from time to time in one or more series upon authorization by our board of directors. The board of directors, without further approval of the stockholders, is authorized to fix the dividend rights and terms, conversion rights, voting rights, redemption rights and terms, liquidation preferences and any other rights, preferences, privileges and restrictions applicable to each series of the preferred stock. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, adversely affect the voting power of the holders of our common stock and, under certain circumstances, make it more difficult for a third party to gain control of Bruker Daltonics, discourage bids for our common stock at a premium or otherwise adversely affect the market price of our common stock.

Various Certificate of Incorporation, By-law and Statutory Anti-Takeover Provisions Affecting Stockholders

CLASSIFIED BOARD. Our board of directors is divided into three classes. Initially Class I will serve until the annual meeting of stockholders in 2001, Class II will serve until the annual meeting of stockholders in 2002 and Class III will serve until the annual meeting of stockholders in 2003. Following this initial transition period, each class will serve for three years, with one class being elected each year. Removal of a member of the board of directors with or without cause requires a majority vote of the board of directors or of the stockholders. A majority of the remaining directors then in office, though less than a quorum, and the stockholders, are empowered to fill any vacancy on the board of directors. A majority vote of the stockholders is required to alter, amend or repeal the foregoing provisions.

DIRECTORS LIABILITY. The certificate of incorporation provides that no director shall be personally liable to us or our stockholders for monetary damages for breach of fiduciary duty as a director notwithstanding any provision of law imposing such liability, provided that, to

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the extent provided by applicable law, the certificate of incorporation shall not eliminate the liability of a director for (a) any breach of the director's duty of loyalty to us or our stockholders; (b) acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;
(c) acts or omissions in respect of certain unlawful dividend payments or stock redemptions or repurchases; or (d) any transaction from which such director derives improper personal benefit. The effect of this provision is to eliminate the rights of Bruker Daltonics and our stockholders (through stockholders' derivative suits against Bruker Daltonics) to recover monetary damages against a director for breach of the fiduciary duty of care as a director (including breaches resulting from negligent or grossly negligent behavior) except in the situations described in clauses (a) through (d) above. The limitations summarized above, however, do not affect the ability of Bruker Daltonics or our stockholders to seek non-monetary-based remedies, such as an injunction or rescission, against a director for breach of his fiduciary duty nor would such limitations limit liability under the Federal securities laws. Our by-laws provide that we shall, to the extent permitted by Delaware law indemnify and advance expenses to the currently acting and former directors, officers, employees and agents of Bruker Daltonics or of another corporation, partnership, joint venture, trust or other enterprise if serving at our request arising in connection with their acting in such capacities.

Various provisions described above may also have the effect of delaying stockholder actions with respect to certain business combinations and the election of new members to our board of directors. As such, the provisions could have the effect of discouraging open market purchases of our common stock because they may be considered disadvantageous by a stockholder who desires to undertake a business combination with us or elect a new director to our board.

Statutory Business Combination Provision

Section 203 of the Delaware General Corporation Law prohibits a publicly held Delaware corporation from consummating a "business combination," except under certain circumstances, with an "interested stockholder" for a period of three years after the date such person became an "interested stockholder" unless:

- before such person became an interested stockholder, the board of directors of the corporation approved the transaction in which the interested stockholder became an interested stockholder or approved the business combination;

- upon the closing of the transaction that resulted in the interested stockholder's becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding shares held by directors who are also officers of the corporation and shares held by employee stock plans; or

- following the transaction in which such person became an interested stockholder, the business combination is approved by the board of directors of the corporation and authorized at a meeting of stockholders by the affirmative vote of the holders of 66 2/3% of the outstanding voting stock of the corporation not owned by the interested stockholder.

The term "interested stockholder" generally is defined as a person who, together with affiliates and associates, owns, or, within the prior three years, owned, 15% or more of a corporation's outstanding voting stock. The term "business combination" includes mergers, asset sales and other similar transactions resulting in a financial benefit to an interested stockholder.
Section 203 makes it more difficult for an "interested stockholder" to effect various business combinations with a corporation for a three-year period. A Delaware

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corporation may "opt out" of Section 203 with an express provision in its original certificate of incorporation or an express provision in its certificate of incorporation or by-laws resulting from an amendment approved by holders of at least a majority of the outstanding voting stock. We have elected to "opt" out of Section 203 in our certificate of incorporation. Therefore any transaction between us and an interested stockholder is not subject to the requirements of Section 203.

Transfer Agent and Registrar

The transfer agent and registrar for our common stock is .

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SHARES ELIGIBLE FOR FUTURE SALE

Upon completion of this offering, Bruker Daltonics will have outstanding shares of our common stock. Of these shares, the shares offered hereby ( shares if the underwriters' over-allotment option is exercised in full) will be freely tradable without restriction or further registration under the Securities Act, unless purchased by "affiliates" of Bruker Daltonics as that term is defined in Rule 144 described below. The remaining 45,500,000 shares of common stock outstanding upon closing of the offering are "restricted securities" as that term is defined in Rule 144.

In general, under Rule 144, as amended, a person who has beneficially owned shares for at least one year is entitled to sell in "brokers' transactions" or to market makers, within any three-month period commencing 90 days after the date of this prospectus, a number of shares that does not exceed the greater of (a) one percent of the number of shares of common stock then outstanding, approximately shares immediately after the completion of this offering ( shares if the underwriters' over-allotment option is exercised in full), or (b) generally, the average weekly trading volume in our common stock during the four calendar weeks preceding the required filing of a Form 144 with respect to such sale. Sales under Rule 144 are generally subject to the availability of current public information about Bruker Daltonics. Under Rule 701, persons who purchase shares upon exercise of options granted prior to the effective date of this offering are entitled to sell such shares 90 days after the effective date of this offering in reliance on Rule 144, without having to comply with the holding period requirements of Rule 144.

Each of our stockholders has agreed to certain restrictions on their ability to sell, offer, contract or grant any option to sell, pledge, transfer or otherwise dispose of shares of our common stock for a period of 180 days after the date of this prospectus, without the prior written consent of Deutsche Bank Securities Inc. All 45,000,000 of our outstanding shares, not including the offered hereby, are subject to 180-day lockup agreements. These shares are eligible for sale 180 days after the commencement of this offering, subject to the requirements of Rule 144.

Prior to this offering, there has not been any public market for our common stock. Future sales of substantial amounts of our common stock in the public market could adversely affect the prevailing market prices and impair our ability to raise capital through the sale of equity securities.

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UNDERWRITING

Subject to the terms and conditions of the underwriting agreement, the underwriters named below, through their representatives, Deutsche Bank Securities Inc., Warburg Dillon Read LLC and Thomas Weisel Partners LLC, have severally agreed to purchase from Bruker Daltonics the following respective number of shares of common stock at a public offering price less the underwriting discounts and commissions set forth on the cover page of this prospectus:

Underwriter                                                  Number of Shares
-----------                                                  ----------------
Deutsche Bank Securities Inc...............................
Warburg Dillon Read LLC....................................
Thomas Weisel Partners LLC.................................
      Total................................................

The underwriting agreement provides that the obligations of the several underwriters to purchase the shares of common stock offered hereby are subject to various conditions precedent and that the underwriters will purchase all shares of the common stock offered hereby, other than those covered by the over-allotment option described below, if any of these shares are purchased. In addition, the underwriting agreement provides that, in the event of a default by an underwriter, in certain circumstances the purchase commitments of non-defaulting underwriters may be increased or the underwriting agreement may be terminated.

The underwriters propose to offer the shares of common stock to the public at the public offering price set forth on the cover of this prospectus and to dealers at a price that represents a concession not in excess of $ per share under the public offering price. The underwriters may allow, and these dealers may re-allow, a concession of not more than $ per share to other dealers. After the initial public offering, representatives of the underwriters may change the offering price and other selling terms.

We have granted to the underwriters an option, exercisable not later than 30 days after the date of this prospectus, to purchase up to additional shares of common stock at the public offering price less the underwriting discounts and commissions set forth on the cover page of this prospectus. The underwriters may exercise this option only to cover over-allotments made in connection with the sale of the common stock offered hereby. To the extent that the underwriters exercise this option, each of the underwriters will become obligated, subject to conditions, to purchase approximately the same percentage of additional shares of common stock as the number of shares of common stock to be purchased by it in the above table bears to the total number of shares of common stock offered hereby. We will be obligated, pursuant to the option, to sell these additional shares of common stock to the underwriters to the extent the option is exercised. If any additional shares of common stock are purchased, the underwriters will offer the additional shares on the same terms as those on which the other shares are being offered.

The underwriting fee is equal to the public offering price per share of common stock less the amount paid by the underwriters to us per share of common stock. The underwriting

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fee is currently expected to be % of the initial public offering price. We have agreed to pay the underwriters the following fees, assuming either no exercise or full exercise by the underwriters of the underwriters' over-allotment option:

                                                                          Total Fees
                                                         ---------------------------------------------
                                                          Without Exercise of    With Full Exercise of
                                         Fee Per Share   Over-Allotment Option   Over-Allotment Option
                                         -------------   ---------------------   ---------------------
Fees paid by Bruker Daltonics..........     $                   $                      $

In addition, we estimate that our share of the total expenses of this offering, excluding underwriting discounts and commissions, will be approximately $ .

We have agreed to indemnify the underwriters against some specified types of liabilities, including liabilities under the Securities Act, and to contribute to payments the underwriters may be required to make in respect of any of these liabilities.

Each of our officers and directors and all of our stockholders have agreed not to offer, sell, contract to sell, or otherwise dispose of, or enter into any transaction that is designed to, or could be expected to, result in the disposition of any shares of our common stock or other securities convertible into or exchangeable or exercisable for shares of our common stock or derivatives of our common stock owned by these persons prior to this offering or common stock issuable upon exercise of options or warrants held by these persons for a period of 180 days after the effective date of the registration statement of which this prospectus is a part without the prior written consent of Deutsche Bank Securities Inc. This consent may be given at any time without public notice. We have entered into a similar agreement with the representatives of the underwriters. There are no agreements between the representatives and any of our stockholders or affiliates releasing them from these lock-up agreements prior to the expiration of the 180-day period.

The representatives of the underwriters have advised us that the underwriters do not intend to confirm sales to any account over which they exercise discretionary authority.

In order to facilitate the offering of our common stock, the underwriters may engage in transactions that stabilize, maintain, or otherwise affect the market price of our common stock. Specifically, the underwriters may over-allot shares of our common stock in connection with this offering, thus creating a short position in our common stock for their own account. A short position results when an underwriter sells more shares of common stock than that underwriter is committed to purchase. Additionally, to cover these over-allotments or to stabilize the market price of our common stock, the underwriters may bid for, and purchase, shares of our common stock in the open market. Finally, the representatives, on behalf of the underwriters, may also reclaim selling concessions allowed to an underwriter or dealer if the underwriting syndicate repurchases shares distributed by that underwriter or dealer. Any of these activities may maintain the market price of our common stock at a level above that which might otherwise prevail in the open market. These transactions may be effected on the Nasdaq National Market or otherwise. The underwriters are not required to engage in these activities and, if commenced, may end any of these activities at any time.

At our request, the underwriters have reserved for sale, at the initial public offering price, up to shares, or %, of our common stock being sold in this offering for our vendors, employees, family members of employees, customers and other third parties. These purchasers are expected to agree not to offer, sell, contract to sell, or otherwise dispose of, or enter into any transaction that is designed to, or could be expected to, result in the disposition of any shares of our common stock or other securities convertible into or exchangeable or exercisable for shares of our common stock or derivatives of our common

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stock acquired by these persons in this offering or common stock issuable upon exercise of options or warrants held by these persons for a period of 180 days after the effective date of the registration statement of which this prospectus is a part without the prior written consent of Deutsche Bank Securities Inc. The number of shares of our common stock available for sale to the general public will be reduced to the extent these reserved shares are purchased. Any reserved shares that are not purchased by these persons will be offered by the underwriters to the general public on the same basis as the other shares in this offering.

Pricing of This Offering

Prior to this offering, there has been no public market for the common stock. Consequently, the initial public offering price for our common stock has been determined by negotiation among us and the representatives of the underwriters. Among the principal factors considered in determining the initial public offering price were:

- prevailing market conditions;

- our results of operations in recent periods;

- the market capitalization and stage of development of other companies that we and the representatives of the underwriters believe to be comparable to our business; and

- estimates of our business potential.

The estimated initial public offering price range set forth on the cover of this preliminary prospectus is subject to change as a result of market conditions and other factors.

Thomas Weisel Partners LLC, one of the representatives of the underwriters, was organized and registered as a broker-dealer in December 1998. Since December 1998, Thomas Weisel Partners has been named as a lead or co-manager on 153 filed public offerings of equity securities, of which 109 have been completed, and has acted as a syndicate member in an additional 80 public offerings of equity securities. Thomas Weisel Partners does not have any material relationship with us or any of our officers, directors or other controlling persons, except with respect to its contractual relationship with us pursuant to the underwriting agreement entered into in connection with this offering.

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CERTAIN UNITED STATES TAX CONSIDERATIONS FOR NON-UNITED STATES HOLDERS

There are federal income and estate tax consequences related to the ownership and disposition of our common stock by a non-U.S. holder. A non-U.S. holder is any person or entity that, for United States federal income tax purposes, is either a non-resident individual, or other corporation organized or created under non-U.S. law corporation, an estate that is not on its worldwide income or a trust that is either not subject to primary supervision over its administration by a United States court or not subject to the control of a U.S. person with respect to substantial trust decisions. Partnerships organized outside of the United States and their partners should consult their own tax advisors about the consequences of holding our common stock, as the tax treatment with respect to foreign partnerships and their partners is complex.

Individuals may, in certain cases, be deemed to be resident aliens, as opposed to non-resident aliens, by virtue of being present in the United States for at least 31 days in the calendar year and for an aggregate of at least 183 days during a three-year period ending in the current calendar year (counting for such purposes, all of the days present in the current year, one-third of the days present in the immediately preceding year, and one-sixth of the days present in the second preceding year). Resident aliens are generally subject to United States federal income tax as if they were United States citizens.

This summary does not discuss all United States federal income tax considerations that may be relevant to non-U.S. holders in light of their particular circumstances or to non-U.S. holders that may be subject to special treatment under United States federal income tax laws. This summary assumes that non-U.S. holders hold their stock as capital assets. Furthermore, this summary does not discuss aspects of United States federal income taxation that may be applicable to holders of options to purchase our common stock, nor does it address any aspects of non-U.S. taxation or United States state or local taxation.

This summary is based on current provisions of the Internal Revenue Code of 1986, as amended (the "Code"), existing, temporary and proposed regulations promulgated thereunder, and administrative and judicial interpretations thereof, all of which are subject to change, possibly with retroactive effect.

THIS SUMMARY IS OF A GENERAL NATURE ONLY AND IS NOT INTENDED TO BE, AND SHOULD NOT BE CONSTRUED TO BE, LEGAL, BUSINESS OR TAX ADVICE TO ANY PARTICULAR SHAREHOLDER. SHAREHOLDERS SHOULD CONSULT THEIR TAX ADVISORS WITH RESPECT TO THE UNITED STATES FEDERAL, STATE, LOCAL AND NON-U.S. TAX CONSEQUENCES OF THE DESCRIBED TRANSACTIONS IN THEIR PARTICULAR CIRCUMSTANCES.

Dividends

In the event that dividends are paid on shares of our common stock, dividends paid to a non-U.S. holder of our common stock generally will be subject to United States withholding tax at a 30% rate, unless an applicable income tax treaty provides for a lower withholding rate.

Currently, the applicable United States Treasury regulations presume, absent actual knowledge to the contrary, that dividends paid to an address in a foreign country are paid to a resident of such country for purposes of the 30% withholding tax. However, recently finalized United States Treasury regulations provide that in the case of dividends paid after December 31, 2000, United States backup withholding tax at a 31% rate will be imposed on dividends paid to non-U.S. holders if the certification or documentary evidence procedures

61

and requirements set forth in such regulations are not satisfied directly or through an intermediary. Further, in order to claim the benefit of an applicable income tax treaty rate for dividends paid after December 31, 2000, a non-U.S. holder must comply with certification requirements set forth in the recently finalized United States Treasury regulations.

The 30% withholding tax does not apply to dividends paid to a non-U.S. holder that provides a Form 4224 or, after December 31, 2000, a Form W-8ECI, certifying that the dividends are effectively connected with the non-U.S. holder's conduct of a trade or business within the United States. Instead, the effectively connected dividends will generally be subject to regular United States income tax as if the non-U.S. holder were a United States resident. If the non-U.S. holder is eligible for the benefits of a tax treaty between the United States and the holder's country of residence, any effectively connected income will be subject to United States federal income tax only if it is attributable to a permanent establishment in the United States mainlined by the holder. A non-U.S. corporation receiving effectively connected dividends may also be subject to an additional "branch profits tax" imposed at a rate of 30% (or a lower treaty rate) on an earnings amount that is net of the regular tax.

A non-U.S. holder may obtain a refund of any excess amounts withheld by filing an appropriate claim for refund along with the required information with the Internal Revenue Service ("IRS").

Gain on Disposition of Common Stock

A non-U.S. holder generally will not be subject to United States federal income or withholding tax requirements in respect of gain recognized on a disposition of common stock unless:

(a) the gain is effectively connected with the conduct of a trade or business of the non-U.S. holder within the United States or of a partnership, trust or estate in which the non-U.S. holder is a partner or beneficiary within the United States and, if certain tax treaties apply, is attributable to a permanent establishment of the non-U.S. holder, within the United States;

(b) the non-U.S. holder is an individual who holds our common stock as a capital asset within the meaning of Section 1221 of the Internal Revenue Code, is present in the United States for 183 or more days in the taxable year of the disposition and meets certain other tax law requirements;

(c) the non-U.S. holder is a United States expatriate required to pay tax pursuant to the provisions of United States tax law; or

(d) we are or have been a "United States real property holding corporation" for federal income tax purposes at any time during the shorter of the five-year period preceding such disposition or the period that the non-U.S. holder holds our common stock.

We believe that we are not, have not been and do not anticipate becoming, a United States real property holding corporation for United States federal income tax purposes.

A non-U.S. holder who is an individual and is described in clause (a) or
(c) above will be required to pay tax on the net gain derived from a sale of our common stock at regular graduated United States federal income tax rates. Further, a non-U.S. holder who is an individual and who is described in clause (b) above generally will be subject to a flat 30% tax on the gain derived from a sale. A non-U.S. holder that is a corporation and that is described

62

in clause (a) above generally will be required to pay tax on its net gain at regular graduated United States federal income tax rates. Such non-U.S. holder may also have to pay a branch profits tax.

Federal Estate Tax

For United States federal estate tax purposes, an individual's gross estate will include our common stock owned, or treated as owned, by an individual. Generally, this will be the case regardless whether or not such individual was a United States citizen or a United States resident. This general rule of inclusion may be limited by an applicable estate tax or other treaty.

Information Reporting and Backup Withholding Tax

Under United States Treasury regulations, we must report annually to the Internal Revenue Service and to each non-U.S. holder the amount of dividends paid to such holder and the tax withheld with respect to such dividends. These information reporting requirements apply whether withholding is required. Copies of the information returns reporting such dividends and withholding may also be made available to the tax authorities in the country in which the non-U.S. holder is a resident under the provisions of an applicable income tax treaty or agreement.

Dividends

Currently, the 31% United States backup withholding tax generally will not apply:

(a) to dividends which are paid to non-U.S. holders and are taxed at the regular 30% withholding tax rate as discussed above; or

(b) before January 1, 2001, to dividends paid to a non-U.S. holder at an address outside of the United States unless the payor has actual knowledge that the payee is a U.S. holder.

The recently finalized United States Treasury regulations provide that in the case of dividends paid after December 31, 2000, a non-U.S. holder generally will be subject to backup withholding tax at the rate of 31% unless:

(a) specified certification procedures are followed; or

(b) specified documentary evidence procedures are followed.

Sale or Exchange of Common Stock

U.S. information reporting and backup withholding generally will not apply to a payment of proceeds of a disposition of common stock where the transaction is effected outside the United States through a non-U.S. office of a non-U.S. broker. However, information reporting requirements, but not backup withholding, generally will apply to such a payment if the broker is:

- a U.S. person;

- a foreign person that derives 50% or more of its gross income for certain periods from the conduct of a trade or business in the U.S.;

- a controlled foreign corporation as defined in the Code; or

63

- a foreign partnership with certain U.S. connections (for payments made after December 31, 2000).

Information reporting requirements will not apply in the above cases if the broker has documentary evidence in its records that the holder is a non-U.S. holder and certain conditions are met or the holder otherwise establishes an exemption.

A non-U.S. holder will be required to certify its non-U.S. status, in order to avoid information reporting and backup withholding at a 31% rate on disposition proceeds, where the transaction is effected by or through a U.S. office of a broker.

The tax liability of persons subject to backup withholding will be reduced by the amount of tax withheld. When withholding results in an overpayment of taxes, a refund may be obtained if the required information is furnished to the IRS.

64

LEGAL MATTERS

The validity of the shares of common stock offered hereby will be passed upon for Bruker Daltonics by Hutchins, Wheeler & Dittmar, A Professional Corporation, Boston, Massachusetts. Richard M. Stein, a stockholder of Hutchins, Wheeler & Dittmar, holds options to purchase 3,000 shares of the common stock of Bruker Daltonics and will purchase shares of common stock in this offering. Mr. Stein is also a Director and the Secretary of Bruker Daltonics. Certain legal matters in connection with the offering will be passed upon for the underwriters by Ropes & Gray, Boston, Massachusetts.

EXPERTS

BDO, independent auditors, have audited our combined financial statements as of and for the year ended December 31, 1997, as set forth in their report. Ernst & Young LLP, independent auditors, have audited our consolidated and combined financial statements as of and for the years ended December 31, 1998 and 1999, as set forth in their report. We have included our financial statements in this prospectus and elsewhere in this registration statement in reliance on BDO and Ernst & Young LLP's reports, given upon their authority as experts in accounting and auditing.

WHERE YOU CAN FIND MORE INFORMATION

We have filed a registration statement on Form S-1 with the Securities and Exchange Commission, or SEC, for our common stock that we are offering by this prospectus. This prospectus does not contain all of the information set forth in the registration statement and the exhibits and schedules thereto. For further information with respect to us and our common stock, we make reference to the registration statement and to the exhibits and schedules filed therewith. Statements contained in this prospectus as to the contents of any contract or any other document referred to are not necessarily complete, and in each instance, reference is made to the copy of such contract or other document filed as an exhibit to the registration statement, each such statement being qualified in all respects by such reference. A copy of the registration statement may be inspected by anyone without charge at the SEC's principal office in Washington, D.C., and copies of all or any part of the registration statement may be obtained from the Public Reference Section of the SEC, 450 Fifth Street, N.W., Washington, D.C. 20549, upon payment of certain fees prescribed by the SEC. Please call the SEC at 1-800-SEC-0330 for further information on the operation of the public reference rooms. The SEC maintains a web site that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC. The address of the web site is http://www.sec.gov. Upon completion of the offering, we will be subject to the information reporting requirements of the Securities Exchange Act of 1934, as amended and, in accordance therewith, will file reports, proxy statements and other information with the SEC.

We intend to furnish our stockholders with annual reports containing financial statements audited by our independent public accountants and quarterly reports for the first three fiscal quarters of each fiscal year containing unaudited interim financial information.

65

BRUKER DALTONICS INC.

INDEX TO FINANCIAL STATEMENTS

Report of Ernst & Young LLP, Independent Auditors for the
  years ended
  December 31, 1998 and 1999................................     F-2

Consolidated Balance Sheets as of December 31, 1998 and
  1999......................................................     F-3

Combined / Consolidated Statements of Operations for the
  years ended
  December 31, 1998 and 1999................................     F-4

Combined / Consolidated Statements of Stockholders' Equity
  for the years ended
  December 31, 1998 and 1999................................     F-5

Combined / Consolidated Statements of Cash Flows for the
  years ended
  December 31, 1998 and 1999................................     F-6

Notes to Financial Statements for the years ended December
  31, 1998
  and 1999..................................................     F-7

Report of BDO, Independent Auditors for the year ended
  December 31, 1997.........................................    F-20

Report of Ernst & Young LLP, Independent Auditors for the
  year ended December 31, 1997..............................    F-21

Combined Balance Sheet as of December 31, 1997..............    F-22

Combined Statement of Operations for the year ended December
  31, 1997..................................................    F-23

Combined Statement of Stockholders' Equity for the year
  ended December 31, 1997...................................    F-24

Combined Statement of Cash Flows for the year ended December
  31, 1997..................................................    F-25

Notes to Financial Statements for the year ended December
  31, 1997..................................................    F-26

All financial data schedules for which provision is made in the applicable accounting regulation of the Securities and Exchange Commission are not required under the related instructions or are inapplicable and therefore have been omitted.

F-1

Report of Ernst & Young LLP, Independent Auditors

The Board of Directors
Bruker Daltonics Inc.

We have audited the accompanying consolidated balance sheets of Bruker Daltonics Inc. (the Company), as of December 31, 1998 and 1999, the related combined statements of operations, stockholders' equity, and cash flows for the year ended December 31, 1998, and the related consolidated statements of operations, stockholders' equity, and cash flows for the year ended December 31, 1999. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of Bruker Daltonics Inc. at December 31, 1998 and 1999, and the results of its operations and its cash flows for each of the years then ended, in conformity with accounting principles generally accepted in the United States.

                                          /s/ ERNST & YOUNG LLP

Boston, Massachusetts
March 11, 2000

F-2

BRUKER DALTONICS INC.

CONSOLIDATED BALANCE SHEETS

                                                                     December 31,
                                                              ---------------------------
                                                                  1998           1999
                                                              ------------   ------------
                                         ASSETS

Current assets:
  Cash and cash equivalents.................................  $ 1,134,916    $ 2,443,142
  Accounts receivable, less allowances for doubtful accounts
   of $157,198 in 1998 and $113,861 in 1999.................    9,743,922     12,203,888
  Inventories...............................................   17,033,673     25,441,844
  Deferred income taxes.....................................      369,150        899,000
  Other assets..............................................    1,055,375        532,446
                                                              -----------    -----------
      Total current assets..................................   29,337,036     41,520,320
                                                              -----------    -----------

Restricted cash.............................................    5,895,871             --
Property, plant and equipment, net..........................   28,365,580     25,350,543
Intangible and other assets.................................      242,827        438,197
                                                              -----------    -----------
          Total assets......................................  $63,841,314    $67,309,060
                                                              ===========    ===========

                          LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Short-term bank borrowings................................  $ 2,941,239    $ 2,496,350
  Accounts payable..........................................    3,254,786      6,661,399
  Due to affiliated companies...............................      147,239      1,496,240
  Accrued expenses..........................................    1,720,043      3,805,486
  Accrued payroll...........................................    1,656,727      1,741,669
  Customer deposits.........................................    9,872,513      8,323,465
  Warranty reserves.........................................    3,206,621      4,739,013
  Income taxes payable......................................      199,982        176,690
                                                              -----------    -----------
      Total current liabilities.............................   22,999,150     29,440,312
                                                              -----------    -----------

Deferred revenue............................................       99,841        393,371
Long-term debt..............................................   14,982,498     12,843,582
Deferred income tax liabilities.............................    8,667,382      8,785,712
Contingent liabilities......................................    6,752,312      5,788,434

Stockholders' equity:
  Common stock, $0.01 par value, authorized 100,000,000
   shares, issued and outstanding 45,500,000 shares in 1998
   and 1999.................................................      455,000        455,000
  Additional paid-in capital................................    6,045,000      6,045,000
  Accumulated other comprehensive loss......................   (1,322,828)    (2,854,829)
  Retained earnings.........................................    5,162,959      6,412,478
                                                              -----------    -----------
      Total stockholders' equity............................   10,340,131     10,057,649
                                                              -----------    -----------
          Total liabilities and stockholders' equity........  $63,841,314    $67,309,060
                                                              ===========    ===========

The accompanying notes are an integral part of these statements.

F-3

BRUKER DALTONICS INC.

COMBINED / CONSOLIDATED STATEMENTS OF OPERATIONS

                                                                Year Ended December 31,
                                                              ---------------------------
                                                                  1998           1999
                                                              ------------   ------------
                                                                COMBINED     CONSOLIDATED
Product revenue.............................................  $40,157,261    $60,620,349
Other revenue...............................................    2,049,740      4,070,101
                                                              -----------    -----------
          Net revenue.......................................   42,207,001     64,690,450
                                                              -----------    -----------

Costs and operating expenses:
  Cost of product revenue...................................   19,672,357     31,617,724
  Sales and marketing.......................................    7,434,968     11,345,265
  General and administrative................................    2,212,594      3,411,138
  Research and development..................................   13,048,670     15,138,114
  Patent litigation costs...................................           --        537,817
                                                              -----------    -----------
          Total costs and operating expenses................   42,368,589     62,050,058
                                                              -----------    -----------

Operating income (loss) from continuing operations..........     (161,588)     2,640,392

Other income................................................      173,737        130,219
Interest expense, net.......................................     (900,829)      (907,682)
                                                              -----------    -----------
Income (loss) from continuing operations before provision
  for income taxes..........................................     (888,680)     1,862,929
Provision for income taxes..................................           --        986,887
                                                              -----------    -----------
Income (loss) from continuing operations....................     (888,680)       876,042
Income from discontinued operations, net of income taxes....      383,414        373,477
                                                              -----------    -----------
Net income (loss)...........................................  $  (505,266)   $ 1,249,519
                                                              ===========    ===========

Net income (loss) per share-basic and diluted
  Income (loss) from continuing operations..................  $     (0.02)   $      0.02
  Income from discontinued operations, net of income
    taxes...................................................         0.01           0.01
                                                              -----------    -----------
Net income (loss) per share.................................  $     (0.01)   $      0.03
                                                              ===========    ===========
Shares used in computing net income (loss) per share-basic
  and diluted...............................................   45,500,000     45,500,000
                                                              ===========    ===========

The accompanying notes are an integral part of these statements.

F-4

BRUKER DALTONICS INC.

COMBINED / CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

                              Common Stock
                         -----------------------                                Accumulated
                          Bruker       Bruker      Additional                      Other           Total
                         Daltonics    Daltonik       Paid-in      Retained     Comprehensive   Stockholders'
                           Inc.         GmbH         Capital      Earnings     Income (Loss)      Equity
                         ---------   -----------   -----------   -----------   -------------   -------------
Balance as of December
  31, 1997.............  $ 52,500    $3,489,184    $  697,500    $7,600,096     $(1,969,494)    $ 9,869,786
  Issuance of common
   stock...............   402,500            --     5,347,500            --              --       5,750,000
  Payments to
   stockholders in
   connection with
   reorganization of
   business............        --    (3,489,184)           --    (1,931,871)             --      (5,421,055)
  Foreign currency
   translation
   adjustment..........        --            --            --            --         646,666         646,666
  Net loss.............        --            --            --      (505,266)             --        (505,266)
                                                                                                -----------
  Net comprehensive
   income..............        --            --            --            --              --         141,400
                         --------    ----------    ----------    ----------     -----------     -----------
Balance as of December
  31, 1998.............   455,000            --     6,045,000     5,162,959      (1,322,828)     10,340,131
  Foreign currency
   translation
   adjustment..........        --            --            --            --      (1,532,001)     (1,532,001)
  Net income...........        --            --            --     1,249,519              --       1,249,519
                                                                                                -----------
  Net comprehensive
   loss................        --            --            --            --              --        (282,482)
                         --------    ----------    ----------    ----------     -----------     -----------
Balance as of December
  31, 1999.............  $455,000    $       --    $6,045,000    $6,412,478     $(2,854,829)    $10,057,649
                         ========    ==========    ==========    ==========     ===========     ===========

The accompanying notes are an integral part of these statements.

F-5

BRUKER DALTONICS INC.

COMBINED / CONSOLIDATED STATEMENTS OF CASH FLOWS

                                                               Year Ended December 31,
                                                              --------------------------
                                                                 1998           1999
                                                              -----------   ------------
                                                               COMBINED     CONSOLIDATED
Operating activities:
Income (loss) from continuing operations....................  $  (888,680)  $    876,042
Adjustments to reconcile income (loss) from continuing
  operations to net cash provided by (used in) continuing
  operations:
    Depreciation and amortization...........................    2,604,582      3,486,625
    Deferred income taxes...................................      526,061        875,095
    Charge for purchase of in-process research and
      development...........................................           --        100,000
    Changes in operating assets and liabilities:
      Accounts receivable...................................   (6,272,587)    (3,605,416)
      Inventories...........................................   (1,802,029)   (10,264,776)
      Other assets..........................................     (862,924)        91,990
      Accounts payable and accrued expenses.................     (479,955)     6,374,182
      Warranty reserve......................................    1,758,596      2,033,985
      Contingent liabilities................................     (367,257)            --
      Income taxes payable..................................     (525,681)          (469)
      Deferred revenue......................................     (281,799)       294,710
      Customer deposits.....................................       66,098      4,680,139
                                                              -----------   ------------
Net cash provided by (used in) continuing operations........   (6,525,575)     4,942,107
Net cash provided by (used in) discontinued operations......       (9,068)       495,126
                                                              -----------   ------------
    Net cash provided by (used in) operating activities.....   (6,534,643)     5,437,233

Investing activities:
Purchases of property and equipment.........................   (2,887,675)    (4,235,677)
Acquisition of business.....................................           --       (200,000)
                                                              -----------   ------------
    Net cash used in investing activities...................   (2,887,675)    (4,435,677)

Financing activities:
Proceeds from long-term debt................................   14,212,750             --
Proceeds from short-term borrowings.........................    2,603,898      1,000,000
Payments on short-term borrowings...........................      (50,000)    (1,086,700)
Advances from (payments to) affiliated companies............   (8,616,816)       444,370
Issuance of common stock....................................    5,750,000             --
Payments to stockholders....................................   (5,435,012)            --
                                                              -----------   ------------
    Net cash provided by financing activities...............    8,464,820        357,670

Effect of exchange rate changes.............................       70,979        (51,000)
                                                              -----------   ------------
Net change in cash and cash equivalents.....................     (886,519)     1,308,226
Cash and cash equivalents at beginning of year..............    2,021,435      1,134,916
                                                              -----------   ------------
Cash and cash equivalents at end of year....................  $ 1,134,916   $  2,443,142
                                                              ===========   ============
Supplemental cash flow information:
  Cash paid for interest....................................  $ 1,018,765   $  1,231,867
  Cash paid for taxes.......................................      152,821        463,987

The accompanying notes are an integral part of these statements.

F-6

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS

1. Description of Business

Bruker Daltonics Inc. and its wholly-owned subsidiaries (the "Company") design, manufacture and market proprietary life science systems based on its mass spectrometry core technology platforms. The Company also sells a broad range of field analytical systems for substance detection and pathogen identification. The Company maintains major technical centers in Europe, North America and Japan. Bruker Daltonics allocates substantial capital and resources to research and development and is party to various collaborations and strategic alliances. The Company's diverse customer base includes pharmaceutical companies, biotechnology companies, academic institutions and government agencies.

These financial statements represent the consolidated accounts of Bruker Daltonics Inc., and its wholly-owned subsidiaries as of December 31, 1998 and 1999 and for the year ended December 31, 1999, and the combined accounts of Bruker Daltonics Inc., and its affiliated companies for the year ended December 31, 1998 (see Note 3). All significant intercompany accounts and transactions have been eliminated in consolidation and combination, respectively.

2. Summary of Significant Accounting Policies

USE OF ESTIMATES

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

CASH AND CASH EQUIVALENTS

The Company considers all highly liquid investments with original maturities of 90 days or less at date of purchase to be cash equivalents. Cash and cash equivalents are carried at cost, which approximates fair market value at year end.

RESTRICTED CASH

At December 31, 1998, $5,895,871 of cash was restricted as part of an advance deposit for a product distribution agreement between Bruker Daltonik GmbH and Hewlett-Packard Company (HP). The original advance was $6,680,002, from which the Company withdrew amounts for payment as products were delivered and accepted by HP. This deposit was reduced to $1,200,000 in the second quarter of 1999 and is no longer restricted. The Company has included the entire balance of $5,895,871 in customer deposits as of December 31, 1998.

CONCENTRATION OF CREDIT RISK

Financial instruments which subject the Company to credit risk consist of cash and cash equivalents and accounts receivables. The risk with respect to cash and cash equivalents is minimized by the Company's policy of investing in short-term financial instruments issued by highly-rated financial institutions. The risk with respect to accounts receivable is minimized by

F-7

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

2. Summary of Significant Accounting Policies (Continued) the credit worthiness of the Company's customers. The Company performs periodic credit evaluations of its customers' financial condition and generally does not require collateral. Credit losses have been within management's expectations. For the years ended December 31, 1998 and 1999, two customers accounted for an aggregate of 32% and 30%, respectively, of the Company's product revenue. Accounts receivables for these two customers accounted for an aggregate of 40% and 3% of total receivables as of December 31, 1998 and 1999, respectively.

INVENTORIES

Inventories are stated at the lower of cost or market with cost determined by the first-in, first-out, ("FIFO") method.

Inventories include demonstration equipment which the Company offers to current and potential customers. The Company amortizes its demonstration equipment over a three year period. Amortization expense for demonstration equipment was $258,844 and $306,792 for the years ended December 31, 1998 and 1999, respectively.

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are stated at cost and are being depreciated on a straight-line basis over the estimated useful lives of the assets as follows:

Buildings............................  25 years
Machinery and equipment..............  5--10 years
Furniture and fixtures...............  3--5 years
Leasehold improvements...............  Shorter of 15 years or the life of
                                       the lease

SOFTWARE COSTS

Purchased software is capitalized at cost and is amortized over the estimated useful life, generally three years. Software developed for use in the Company's products is expensed as incurred and is classified as research and development expense.

OTHER ASSETS

Other assets consist principally of patents and licenses. Patents, patent applications and rights are stated at acquisition cost. Amortization of patents is recorded using the straight-line method over the legal lives of the patents, generally for periods ranging up to ten years. Accumulated amortization of these assets amounted to $983,702 and $1,120,840, as of December 31, 1998 and 1999, respectively.

LONG-LIVED ASSETS

The Company reviews long-lived assets for impairment, in accordance with Statement of Financial Accounting Standard (SFAS) No. 121, "Accounting for the Impairment of Long-Lived Assets to Be Disposed Of," whenever events or circumstances indicate that the

F-8

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

2. Summary of Significant Accounting Policies (Continued) carrying amount of an asset may not be recoverable. Assets are written-down to fair value when the carrying costs exceed this amount. Any impairment losses are determined based upon estimated future cash flows and fair values. To date, no such indicators of impairment have been identified.

WARRANTY COSTS

The Company provides a one year parts and labor warranty with the purchase of equipment. The anticipated cost for this one year warranty is accrued upon recognition of the sale and is included as a current liability on the accompanying balance sheets.

CUSTOMER DEPOSITS

Under the terms and conditions of contracts with certain customers, the Company requires an advance deposit. These deposit amounts are recorded as a liability until revenue is recognized against the specific contract at time of acceptance of the system.

EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net earnings by the weighted-average number of common shares outstanding during the period. The diluted earnings per share computation includes the effect of shares which would be issuable upon the exercise of outstanding stock options, reduced by the number of shares which are assumed to be purchased by the Company from the resulting proceeds at the average market price during the period. At December 31, 1998 and 1999 there were no stock options outstanding, therefore basic and diluted earnings per share are equivalent.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company's financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable and long-term debt. The carrying amounts of the Company's cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to their short-term nature. The fair value of long-term debt is estimated based on current interest rates offered to the Company for financing arrangements with similar maturities. The recorded value of these financial instruments approximate their fair value at December 31, 1998 and 1999.

FOREIGN CURRENCY TRANSLATION

In accordance with Statement of Financial Accounting Standards ("SFAS") No. 52, "Accounting for Foreign Exchange," all balance sheet accounts of foreign subsidiaries are translated into United States dollars at the current exchange rate, and income statement items are translated at the average exchange rate for the period; resulting translation adjustments are made directly to accumulated other comprehensive income (loss) in stockholders' equity. Realized exchange gains and losses are included in current operations and were not material.

F-9

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

2. Summary of Significant Accounting Policies (Continued)
REVENUE RECOGNITION

Revenue is recognized from system sales when a product is accepted by the customer, except when sold through an independent distributor, a strategic collaboration partner or an unconsolidated Bruker affiliate which assumes responsibility for installation, in which case the system sale is recognized upon shipment from the Company's facilities. Revenue from accessories and parts is recognized upon shipment, and revenue from services when performed.

The Company also offers to its customers warranty and service agreements extending beyond the initial year of warranty for a fee. These fees are recorded as deferred revenue and amortized into income over the life of the agreements.

Other revenues, which are principally comprised of research and development grants, are recognized as grant work is performed.

ADVERTISING COSTS

Advertising costs are expensed as incurred. Advertising expenses included in sales and marketing were $452,466 and $363,567 for the years ended December 31, 1998 and 1999, respectively.

INCOME TAXES

The Company provides for income taxes under the liability method prescribed by SFAS No. 109, "Accounting for Income Taxes." Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the difference is expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.

ACCOUNTING DEVELOPMENTS

In June 1998, the Financial Accounting Standards Board ("FASB") issued SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities." The provisions of the statement require the recognition of all derivatives as either assets or liabilities in the statement of financial position and the measurement of those instruments at fair value. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation. The Company is required to implement the statement in the first quarter of fiscal 2001. The Company does not believe that this new accounting standard will have a material impact on the financial statements.

In fiscal 1999, the Company adopted SFAS No. 131, "Disclosures about Segments of an Enterprise and Related Information." The statement established annual and interim reporting standards for an enterprise's operating segments and related disclosures about its products and services, geographic areas and major customers. The adoption of the statement did not affect the results of operations or financial position of the Company.

F-10

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

3. Acquisitions

BRUKER DALTONIK GMBH

Effective December 21, 1998, Bruker Daltonics Inc. acquired all the assets of Bruker Daltonik GmbH formerly known as Bruker Franzen Analytik GmbH (a manufacturer of mass spectrometers) for $5,435,012 funded through the issuance of 5,750,000 shares of common stock for $1.00 per share to existing shareholders. The operations of Bruker Daltonik GmbH and its subsidiary, Bruker Saxonia Analytik GmbH, based in Germany, are included in the 1998 combined statements of operations for comparative purposes. The transaction represented an exchange between entities under common control and, accordingly, the assets acquired and liabilities assumed have been accounted for at historical cost in a manner similar to a pooling-of-interests.

PROTEIGENE, INC.

On December 6, 1999, the Company acquired a 49% interest in ProteiGene, Inc. from an officer of the Company for $50,000, the estimated fair market value. ProteiGene is a bioanalytical research and development company specializing in applications of mass spectrometry and bioinformatics in medical and microbiologic diagnostics. ProteiGene is developing products to be used in the care of patients suffering from routine and exotic infections, organ transplant rejection, and genetic and environmental diseases including cancers and auto-immune conditions where standard microbiologic and histopathologic diagnostics have proven ineffective.

VIKING INSTRUMENTS CORPORATION

On June 22, 1999, the Company purchased, out of bankruptcy court, the assets of Viking Instruments Corporation, a developer and manufacturer of transportable gas chromatrograph mass spectrometers (GC/MS). These transportable GC/MS instruments are used for laboratory and field analysis of soil, air and water for the identification and quantification of a wide variety of organic compounds and pollutants. The acquisition cost was $150,000, and the results of operations are included in the accompanying consolidated financial statements from the date of acquisition.

The pro forma net sales and results of operations for the ProteiGene and Viking Instruments acquisitions, had they occurred at the beginning of 1998, are not significant, and accordingly, have not been provided.

F-11

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

4. Inventories

The components of inventories were as follows:

                                                          December 31,
                                                   ---------------------------
                                                       1998           1999
                                                   ------------   ------------
Raw materials....................................  $ 3,924,861    $ 5,849,464
Work-in-process..................................    8,833,788     10,776,494
Finished goods...................................    4,275,024      8,815,886
                                                   -----------    -----------
                                                   $17,033,673    $25,441,844
                                                   ===========    ===========

5. Property, Plant and Equipment

Property, plant and equipment consisted of the following:

                                                        December 31,
                                                 ---------------------------
                                                     1998           1999
                                                 ------------   ------------
Land...........................................  $  1,726,893   $  1,480,358
Buildings......................................    26,975,800     24,165,161
Office furniture, machinery and equipment......    18,443,195     18,327,638
Leasehold improvements.........................        11,085         11,085
                                                 ------------   ------------
                                                   47,156,973     43,984,242
Less accumulated depreciation and
  amortization.................................   (18,791,393)   (18,633,699)
                                                 ------------   ------------
                                                 $ 28,365,580   $ 25,350,543
                                                 ============   ============

Depreciation expense for the years ended December 31, 1998 and 1999 was $2,464,693 and $3,317,282, respectively. Amortization of leasehold improvements is included with depreciation in the accompanying financial statements.

6. Income Taxes

The components of income (loss) from continuing operations before provision for income taxes consisted of the following for the years ended December 31, 1998 and 1999:

                                                     Year Ended December 31,
                                                    -------------------------
                                                       1998          1999
                                                    -----------   -----------
United States.....................................  $   229,908   $(1,527,000)
Foreign...........................................   (1,118,588)    3,389,929
                                                    -----------   -----------
                                                    $  (888,680)  $ 1,862,929
                                                    ===========   ===========

F-12

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

6. Income Taxes (Continued) Significant components of the provision for income taxes for the years ended December 31, 1998 and 1999 were as follows:

                                                      Year Ended December 31,
                                                     --------------------------
                                                        1998            1999
                                                     ----------       ---------
Current:
  Federal..........................................  $  96,536        $     --
  State............................................     11,464              --
  Foreign..........................................         --          72,000
                                                     ---------        --------
                                                       108,000          72,000
                                                     ---------        --------

Deferred:
  Federal..........................................    (26,000)             --
  State............................................    (82,000)             --
  Foreign..........................................         --         914,887
                                                     ---------        --------
                                                      (108,000)        914,887
                                                     ---------        --------
      Total income taxes on continuing operations..  $      --        $986,887
                                                     =========        ========

The reconciliation of income tax computed at the United States federal statutory tax rate to income tax expense for the years ended December 31, 1998 and 1999 was as follows:

                                                      Year Ended December 31,
                                                     --------------------------
                                                        1998            1999
                                                     ----------       ---------
Income tax (benefit) at statutory rate.............       34.0%           34.0%
Add (deduct):
  Change in valuation allowance....................      (30.5)           35.6
  Permanent differences............................       (1.6)            1.2
  Foreign income tax at differing rates............         --            (8.9)
  Other............................................       (1.9)           (9.0)
                                                     ---------        --------
                                                            --            52.9%
                                                     =========        ========

F-13

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

6. Income Taxes (Continued) The components of the Company's deferred income taxes were as follows:

                                                          December 31,
                                                    -------------------------
                                                       1998          1999
                                                    -----------   -----------
Deferred tax assets:
  Inventory.......................................  $   301,000   $   880,000
  Warranty accrual................................       55,000       257,000
  Allowance for doubtful accounts.................       10,000        11,000
  R & D tax credit carryforward...................      175,000       225,000
  Net operating loss carryforward.................       29,000       171,000
  Other...........................................       49,000       456,000
                                                    -----------   -----------
                                                        619,000     2,000,000
Valuation allowance...............................      (99,000)     (763,000)
                                                    -----------   -----------
Net deferred tax..................................      520,000     1,237,000

Deferred tax liabilities:
  Patent litigation costs.........................   (2,793,000)   (4,023,000)
  Excess tax over book depreciation...............   (5,998,000)   (4,939,000)
  Other...........................................      (27,000)     (162,000)
                                                    -----------   -----------
Total deferred tax liabilities....................   (8,818,000)   (9,124,000)
                                                    -----------   -----------
Net deferred tax liability........................  $(8,298,000)  $(7,887,000)
                                                    ===========   ===========

For financial reporting purposes, a valuation allowance of $99,000 and $763,000 for December 31, 1998 and 1999, respectively, has been recognized to offset deferred tax assets since uncertainty exists with respect to future realization of deferred tax assets.

As of December 31, 1999, the Company had approximately $225,000 and $428,000 of research and development tax credits and net operating loss carryforwards, respectively, available to reduce future federal tax liabilities. These credits expire at various dates through the year 2019.

Undistributed earnings of foreign subsidiaries aggregated approximately $8.1 million at December 31, 1999, which, under existing law, will not be subject to United States tax until distributed as dividends. Because the earnings have been or are intended to be indefinitely reinvested in foreign operations, no provision has been made for United States income taxes that may be applicable thereto.

7. Financing Arrangements

In August 1999, the Company entered into a revolving line of credit with Citizens Bank in the amount of $2,500,000. This line, which is secured by certain inventory, receivables and equipment in the United States, is used to provide working capital and expires July 31, 2001. Interest on this line of credit is at the lower of LIBOR plus 175 basis points (7.91% at

F-14

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

7. Financing Arrangements (Continued) December 31, 1999) or the Prime Rate (8.5% at December 31, 1999). There is no commitment fee on the unused portion of the line. As of December 31, 1999, the Company had $1,000,000 outstanding on this line of credit.

The Company also maintained revolving lines of credit in 1998 and 1999, respectively, of approximately $4,200,000 and $6,200,000, among German banks at interest rates ranging between 7.5% and 6.1%. At December 31, 1998 and 1999, $2,941,239 and $1,496,350, respectively, was outstanding against these revolving lines of credit. The lines are secured by certain inventory and accounts receivable in Germany and are renewable in June 2000.

The weighted average interest rate for all outstanding borrowings under the Company's lines of credit was 7.01% and 7.06% at December 31, 1998 and 1999, respectively.

The Company has three notes payable with outstanding balances aggregating $14,982,498 and $12,843,582 as of December 31, 1998 and 1999, respectively. One note ($5,137,434 at December 31, 1999), with an interest rate of 5.10%, is payable in full in 2003. The other two notes ($7,706,148 in the aggregate at December 31, 1999), have an interest rate of 4.65% and are due in 2008. The notes are payable to Commerzbank in Germany. Interest is due monthly and all obligations are collateralized by the land and buildings of Bruker Daltonik GmbH.

8. Segment and Geographic Information

The Company operates in one business segment and engages in the design, manufacturing and marketing of proprietary life science systems, process analysis systems, and analytical instruments based primarily on mass spectrometry technology.

GEOGRAPHIC AREAS

Information concerning principal geographic areas is as follows:

                                                     Year Ended December 31,
                                                   ---------------------------
                                                       1998           1999
                                                   ------------   ------------
NET PRODUCT REVENUES FROM EXTERNAL CUSTOMERS
  Germany........................................  $26,621,316    $31,694,883
  United States..................................   13,535,945     22,166,224
  Other..........................................           --      6,759,242
                                                   -----------    -----------
                                                   $40,157,261    $60,620,349
                                                   ===========    ===========

F-15

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

8. Segment and Geographic Information (Continued) Net product revenues are attributable to geographic areas based on the region of sale.

                                                          December 31,
                                                   ---------------------------
                                                       1998           1999
                                                   ------------   ------------
LONG-LIVED ASSETS (EXCLUDING INTANGIBLE ASSETS)
  Germany........................................  $28,037,374    $24,283,757
  United States..................................      328,206        484,006
  Other..........................................           --        672,935
                                                   -----------    -----------
                                                   $28,365,580    $25,440,698
                                                   ===========    ===========
NET ASSETS
  Germany........................................  $ 9,307,408    $11,320,044
  United States..................................    6,821,503      5,294,422
  Other..........................................           --        357,091
                                                   -----------    -----------
                                                    16,128,911     16,971,557
  Elimination entries............................   (5,788,780)    (6,913,908)
                                                   -----------    -----------
                                                   $10,340,131    $10,057,649
                                                   ===========    ===========

9. Discontinued Operations

In 1999, the Company decided to discontinue its Fourier Transform-Infrared (FT-IR) business. The FT-IR business unit sells and services FT-IR instruments to a variety of markets outside the Company's core technology platform of mass spectrometry. The Company plans to complete the sale of its FT-IR business to Bruker Optik GmbH, an affiliated entity, in the first half of 2000 for a price, which approximates the net book value of the assets and liabilities of the business.

Summary results for the discontinued operations for the years ended December 31, 1998 and 1999 are as follows:

                                                     Year Ended December 31,
                                                  -----------------------------
                                                     1998              1999
                                                  -----------       -----------
Net product revenues............................  $2,853,737        $2,741,815
Total costs and expenses........................  (2,214,492)       (2,119,423)
Provision for income taxes......................    (255,831)         (248,915)
                                                  ----------        ----------
Income from discontinued operations.............  $  383,414        $  373,477
                                                  ==========        ==========

The assets and liabilities of the discontinued operations as of December 31, 1998 and 1999 consisted of inventories ($30,930 and $31,650, respectively) and accounts payable ($24,317 and $146,686, respectively).

F-16

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

10. Related-Party Transactions

The Company is affiliated, through common shareholders, with several other entities which use the Bruker name. The Company and its affiliates have entered into a sharing agreement which provides for the sharing of specified intellectual property rights, services, facilities and other related items.

The Company recognized sales to affiliated entities of $9,804,838 in 1998 and $10,307,416 in 1999 and purchases from affiliated entities of $3,913,662 in 1998 and $3,208,752 in 1999.

In 1998 and 1999, various Bruker affiliates provided administrative and other services (including office space-see note 12) to the Company at a cost of approximately $227,000 and $437,000, respectively, based on its assessment of the estimated fair market value of such services.

11. Employee Benefit Plans

The Company maintains or sponsors various defined contribution retirement plans that cover domestic and international employees. The Company may make contributions to these plans at its discretion. Retirement benefits earned are generally based on years of service and compensation during active employment. Eligibility is generally determined in accordance with local statutory requirements. However, the level of benefits and terms of vesting may vary among plans. The Company contributed $66,110 and $122,548 in 1998 and 1999, respectively.

12. Commitments and Contingencies

LEASES

The Company leases office space from related parties, under agreements expiring on various dates through 2004. The Company's principal office lease expires in 2000. These lease obligations for the next five years are as follows:

2000........................................................  $188,321
2001........................................................     3,971
2002........................................................     3,971
2003........................................................     3,971
2004........................................................     3,971
                                                              --------
                                                              $204,205
                                                              ========

Rent expense for the years ended December 31, 1998 and 1999 was $131,962 and $283,860, respectively.

LICENSE AGREEMENTS

The Company has entered into license agreements allowing the Company to utilize certain patents. If these patents are used in connection with a commercial product sale, the

F-17

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

12. Commitments and Contingencies (Continued) Company pays royalties ranging from 0.15% to 5.00% on the related product revenues. Licensing fees for the years ended December 31, 1998 and 1999 were $146,166 and $178,327, respectively.

GRANTS

The Company has a grant from the National Institute of Standards and Technology (NIST) Advanced Technology Program, which commenced on March 1, 1995 and ran through February 28, 2000. This grant is for the development of a DNA sequencing time-of-flight mass spectrometer with a total project cost of $7 million, of which $3.5 million will be reimbursed from NIST. The Company's expenditures were $1.3 million and $2.1 million in 1998 and 1999, respectively. Amounts reimbursed from NIST were $594,000 and $1 million in 1998 and 1999, respectively, and are classified in other revenues.

The Company's wholly-owned subsidiary, Bruker Daltonik GmbH and its subsidiary Bruker Saxonia Analytik GmbH, are the recipients of six grants from German government authorities. The grants were made in connection with the Company's development of specific spectrometers and components of spectrometers. Total grants awarded amount to $4.8 million and expire through December 31, 2001. Amounts received under these grants during 1998 and 1999 totaled $1.5 million and $3 million, respectively, and are classified in other revenues. Total expenditures related to these grants were $3 million and $3.2 million in 1998 and 1999, respectively.

LEGAL

The Company's wholly-owned subsidiary, Bruker Daltonik GmbH, has a $6.8 million and $5.8 million accrued liability at December 31, 1998 and 1999, respectively, related to certain patent infringement litigation filed by a competitor. In 1997, the competitor initiated an action in the United States District Court of Massachusetts alleging patent infringement against the Company and Hewlett-Packard. The competitor has also filed a request for an investigation of its patent infringement claims with the United States International Trade Commission (ITC) and has filed suit against the Company in Germany, France and the United Kingdom. The Massachusetts patent action has been pending the final determination of the ITC action while the actions in Germany, France and the United Kingdom are on going.

In 1998, the ITC found in favor of the Company and in 1999 the Court of Appeals for the Federal Circuit confirmed, in part, the ITC decision in favor of the Company. The Company has filed counterclaims in relation to these patent claims and in 1999 filed an anti-trust suit against the competitor in Massachusetts Federal Court. The Company believes that it has a meritorious defense to the competitor's claims and intends to vigorously defend itself.

Based on a review of the current facts and circumstances, management of the Company and its subsidiary believe that the amount of the accrued liability is a reasonable estimate of the exposure to loss associated with these matters, representing, principally, anticipated legal fees. While acknowledging the uncertainties of litigation, the Company believes that these

F-18

BRUKER DALTONICS INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

12. Commitments and Contingencies (Continued) matters will be resolved without a material effect on the Company's financial position or results of operations. However, an unfavorable outcome of these matters could result in a material adverse impact on the Company's financial statements.

Other lawsuits, claims and proceedings of a nature considered normal to its businesses are pending against the Company and its subsidiary. The Company believes the outcome of these proceedings will not have a material impact on the Company's financial position or results of operations.

13. Subsequent Events

STOCK SPLIT

On February 14, 2000, the Board of Directors of Bruker Daltonics, Inc. authorized a seven-for-one stock split in the form of a stock dividend. Shareholders of record received six additional shares of common stock for every share they owned. All common shares and per share data in the accompanying financial statements have been restated to reflect the stock split.

STOCK OPTIONS

In February 2000, the Board of Directors adopted and the Stockholders approved the 2000 Stock Option Plan ("the Plan"). The Plan provides for the issuance of up to 2,220,000 shares of Common Stock in connection with stock options or other awards under the Plan. The Plan allows a committee of the Board of Directors (the "Committee") to grant incentive stock options, non-qualified stock options, stock appreciation rights and stock awards (including the use of restricted stock and phantom shares). The Committee has the authority to determine which employees will receive the rewards, the amount of the awards, and other terms and conditions of the award. In February 2000, the Committee granted stock options for 783,135 shares of common stock, which vest over three-to-five year periods.

F-19

Report of BDO, Independent Auditors

The Board of Directors
Bruker Daltonics Inc.

We have audited the accompanying combined balance sheet as of December 31, 1997 of the entities listed in Note 1, and the related combined statements of operations, stockholders' equity, and cash flows for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. We did not audit the financial statements of Bruker Daltonics Inc., which statements reflect total assets of approximately $5.5 million as of December 31, 1997 and total revenues of approximately $14.7 million for the year then ended. Those statements were audited by other auditors whose report has been furnished to us, and our opinion, insofar as it relates to data included for Bruker Daltonics Inc., is based solely on the report of other auditors.

We conducted our audit in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, based on our audit and the report of other auditors, the financial statements referred to above present fairly, in all material respects, the combined financial position at December 31, 1997 of the entities listed in Note 1, and the results of their operations and their cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States.

April 6, 2000

         /s/ BDO von Riegen, Lienau, Sucker & Partner GmbH
                  Wirtschaftsprufungsgesellschaft

    (Sucker)                                         (Dr. Lienau)
Wirtschaftsprufer                                  Wirtschaftsprufer

F-20

Report of Ernst & Young LLP, Independent Auditors

The Board of Directors
Bruker Daltonics Inc.

We have audited the balance sheet of Bruker Daltonics Inc. (formerly Bruker Analytical Systems, Inc.) (the Company) as of December 31, 1997, and the related statements of income, stockholders' equity, and cash flows for the year then ended (not presented separately herein). These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with the auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Bruker Daltonics Inc. at December 31, 1997, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States.

                                          /s/ ERNST & YOUNG LLP

Boston, Massachusetts
February 3, 2000

F-21

BRUKER DALTONICS INC.

COMBINED BALANCE SHEET

                                                              December 31,
                                                              ------------
                                                                  1997
                                                              ------------
                                  ASSETS

Current assets:
  Cash and cash equivalents.................................  $ 2,021,435
  Accounts receivable, less allowance for doubtful accounts
   of $1,028................................................    2,449,755
  Inventories...............................................   14,436,816
  Deferred tax asset........................................      133,176
  Other assets..............................................      135,743
                                                              -----------
      Total current assets..................................   19,176,925
                                                              -----------

Restricted cash.............................................    6,680,002
Property, plant and equipment, net..........................   26,173,305
Intangible and other assets.................................      218,396
                                                              -----------
          Total assets......................................  $52,248,628
                                                              ===========
                   LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Short-term borrowings.....................................  $   182,881
  Accounts payable..........................................    4,290,956
  Due to affiliated companies, net..........................    8,218,007
  Accrued expenses..........................................    1,494,795
  Accrued payroll...........................................    1,340,363
  Customer deposits.........................................   10,470,046
  Warranty reserve..........................................    1,269,862
  Note payable to stockholder...............................       50,000
  Income taxes payable......................................      705,513
                                                              -----------
      Total current liabilities.............................   28,022,423
                                                              -----------

Deferred revenue............................................      381,640
Deferred tax liability......................................    7,323,929
Contingent liabilities......................................    6,650,850

Stockholders' equity:
Bruker Daltonics Inc.
  Common stock $.01 par value, authorized 7,000,000 shares,
   issued and outstanding 5,250,000 shares..................       52,500
  Additional paid-in capital................................      697,500
Bruker Daltonik GmbH
  Common stock no par value, authorized 1 share, issued and
   outstanding 1 share......................................    3,489,184
  Accumulated other comprehensive loss......................   (1,969,494)
  Retained earnings.........................................    7,600,096
                                                              -----------
      Total stockholders' equity............................    9,869,786
                                                              -----------
          Total liabilities and stockholders' equity........  $52,248,628
                                                              ===========

The accompanying notes are an integral part of these statements.

F-22

BRUKER DALTONICS INC.

COMBINED STATEMENT OF OPERATIONS

                                                               Year Ended
                                                              December 31,
                                                              ------------
                                                                  1997
                                                              ------------
Product revenue.............................................  $49,246,709
Other revenue...............................................    1,878,298
                                                              -----------
Net revenue.................................................   51,125,007
Costs and operating expenses:
  Cost of product revenue...................................   24,537,719
  Sales and marketing.......................................    7,178,180
  General and administrative................................    2,119,792
  Research and development..................................    9,166,087
  Patent litigation costs...................................    5,525,306
                                                              -----------
        Total costs and operating expenses..................   48,527,084
Operating income from continuing operations.................    2,597,923
Other income................................................      127,255
Interest expense, net.......................................     (743,199)
                                                              -----------
Income before provision for income taxes....................    1,981,979

Provision for income taxes..................................    1,626,785
                                                              -----------
Income from continuing operations...........................      355,194

Income from discontinued operations, net of income taxes....      208,851
                                                              -----------
Net income..................................................  $   564,045
                                                              ===========

The accompanying notes are an integral part of these statements.

F-23

BRUKER DALTONICS INC.
COMBINED STATEMENT OF STOCKHOLDERS' EQUITY

                                     Common Stock
                               ------------------------                                Accumulated
                                 Bruker       Bruker      Additional                      Other            Total
                               Daltonics     Daltonik      Paid-in      Retained      Comprehensive    Stockholders'
                                  Inc.         GmbH        Capital      Earnings          Loss             Equity
                               ----------   -----------   ----------   -----------   ---------------   --------------
Balance as of December 31,
  1996 (unaudited)...........   $ 7,000     $3,489,184     $ 93,000    $7,036,051      $  (628,822)      $9,996,413
  Issuance of common stock...    45,500             --      604,500            --               --          650,000
  Foreign currency
    translation adjustment...        --             --           --            --       (1,340,672)      (1,340,672)
  Net income.................        --             --           --       564,045               --          564,045
                                                                                                         ----------
  Net comprehensive loss.....        --             --           --            --               --         (776,627)
                                -------     ----------     --------    ----------      -----------       ----------
Balance as of December 31,
  1997.......................   $52,500     $3,489,184     $697,500    $7,600,096      $(1,969,494)      $9,869,786
                                =======     ==========     ========    ==========      ===========       ==========

The accompanying notes are an integral part of these statements.

F-24

BRUKER DALTONICS INC.

COMBINED STATEMENT OF CASH FLOWS

                                                               Year Ended
                                                              December 31,
                                                              ------------
                                                                  1997
                                                              ------------
Operating activities:
Income from continuing operations...........................  $    355,194
Adjustments to reconcile income from continuing operations
  to net cash provided by continuing operations:
  Depreciation and amortization.............................     2,572,850
  Deferred income taxes.....................................     1,024,312
  Changes in operating assets and liabilities:
    Accounts receivable.....................................     4,393,788
    Inventories.............................................      (325,147)
    Other assets............................................       780,460
    Accounts payable and accrued expenses...................     1,556,147
    Warranty reserve........................................    (1,080,366)
    Contingent liabilities..................................     3,585,381
    Income taxes payable....................................       663,583
    Deferred revenue........................................       248,820
    Customer deposits.......................................    (1,409,458)
                                                              ------------
Net cash provided by continuing operations..................    12,365,564
Net cash provided by discontinued operations................       320,904
                                                              ------------
    Net cash provided by operating activities...............    12,686,468
Investing activities:
Purchases of property and equipment.........................    (3,911,879)
                                                              ------------
    Net cash used in investing activities...................    (3,911,879)

Financing activities:
Payments on line of credit..................................    (5,399,472)
Changes in due to affiliated companies......................    (5,366,415)
Issuance of common stock....................................       650,000
                                                              ------------
    Net cash used in financing activities...................   (10,115,887)
Effect of exchange rate changes.............................      (403,760)
                                                              ------------
Net decrease in cash and cash equivalents...................    (1,745,058)
Cash and cash equivalents at beginning of year..............     3,766,493
                                                              ------------
Cash and cash equivalents at end of year....................  $  2,021,435
                                                              ============
Supplemental cash flow information:
  Cash paid for interest....................................  $  1,252,112
  Cash paid for income taxes................................       517,461

The accompanying notes are an integral part of these statements.

F-25

BRUKER DALTONICS INC.

NOTES TO COMBINED FINANCIAL STATEMENTS

1. Description of Business

These financial statements represent the combined accounts of Bruker Daltonics Inc. (formally Bruker Analytical Systems, Inc.) and Bruker Daltonik GmbH (formally Bruker-Franzen Analytik GmbH) including its subsidiary Bruker Saxonia Analytik GmbH (collectively "Bruker Daltonics" or the "Company"), for the year ended December 31, 1997. All significant intercompany accounts and transactions have been eliminated in combination.

The Company designs, manufactures and markets proprietary life science systems based on its mass spectrometry core technology platforms. The Company also sells a broad range of field analytical systems for pathogen identification and substance detection. The Company maintains major technical centers in Europe and North America. Bruker Daltonics allocates substantial amounts to research and development and are parties to various collaborations and strategic alliances. The Company's diverse customer base includes pharmaceutical and biotechnology companies, academic institutions and government agencies.

2. Summary of Significant Accounting Policies

USE OF ESTIMATES

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

CASH AND CASH EQUIVALENTS

The Company considers all highly liquid investments with original maturities of 90 days or less at date of purchase to be cash equivalents. Cash and cash equivalents are carried at cost, which approximates fair market value at year end. The Company has repurchase agreements with a bank. The repurchase agreements are collateralized by investments principally consisting of U.S. Government Agency securities in the amount of at least 100% of such obligation.

RESTRICTED CASH

At December 31, 1997, $6,680,002 of cash was restricted as part of an advance deposit for a product distribution agreement between Bruker Daltonik GmbH and Hewlett-Packard Company (HP). The Company withdrew amounts for payment as products were delivered and accepted by HP.

CONCENTRATION OF CREDIT RISK

Financial instruments which subject the Company to credit risk consist of cash and cash equivalents and accounts receivables. The risk with respect to cash and cash equivalents is minimized by the Company's policy of investing in short-term financial instruments issued by highly-rated financial institutions. The risk with respect to accounts receivable is minimized by

F-26

BRUKER DALTONICS INC.

NOTES TO COMBINED FINANCIAL STATEMENTS (Continued)

2. Summary of Significant Accounting Policies (Continued) the credit worthiness of the Company's customers. The Company performs periodic credit evaluations of its customers' financial condition and generally does not require collateral. Credit losses have been within management's expectations. For the year ended December 31, 1997, two customers accounted for an aggregate of 31% of the Company's product revenue. Accounts receivables, as of December 31, 1997, for these two customers accounted for an aggregate of 28% of total receivables.

INVENTORIES

Inventories are stated at the lower of cost or market with cost determined by the first-in, first-out, ("FIFO") method.

Inventories include demonstration equipment which the Company offers to current and potential customers. The Company amortizes its demonstration equipment over a three year period. Amortization expense for demonstration equipment was $105,981 for the year ended December 31, 1997.

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are stated at cost and are being depreciated on a straight-line basis over the estimated useful lives of the assets as follows:

Buildings...................................................  25 years
Machinery and equipment.....................................  5--10 years
Furniture and fixtures......................................  3--5 years

SOFTWARE COSTS

Purchased software is capitalized at cost and amortized over the estimated useful life, generally three years. Software developed for use in the Company's products is expensed as incurred and is classified as research and development expense.

OTHER ASSETS

Other assets consist principally of patents and licenses. Patents, patent applications and rights are stated at acquisition cost. Amortization of patents is recorded using the straight-line method over the legal lives of the patents, generally for periods ranging up to ten years. Accumulated amortization of these assets amounted to $694,104 as of December 31, 1997.

LONG-LIVED ASSETS

The Company reviews long-lived assets for impairment, in accordance with Statement of Financial Accounting Standard (SFAS) No. 121, "Accounting for the Impairment of Long-Lived Assets to Be Disposed Of," whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. Assets are written-down to fair value when the carrying costs exceed this amount. Any impairment losses are determined based upon estimated future cash flows and fair values. To date, no such indicators of impairment have been identified.

F-27

BRUKER DALTONICS INC.

NOTES TO COMBINED FINANCIAL STATEMENTS (Continued)

2. Summary of Significant Accounting Policies (Continued)
WARRANTY COSTS

The Company provides a one year parts and labor warranty with the purchase of equipment. The anticipated cost for this one year warranty is accrued upon recognition of the sale and is included as a current liability on the accompanying balance sheets.

CUSTOMER DEPOSITS

Under the terms and conditions of contracts with certain customers, the Company requires an advance deposit. These deposit amounts are recorded as a liability until revenue is recognized against the specific contract at time of acceptance of the system.

FOREIGN CURRENCY TRANSLATION

In accordance with Statement of Financial Accounting Standards ("SFAS") No. 52, "Accounting for Foreign Exchange," all balance sheet accounts of foreign subsidiaries are translated into United States dollars at the current exchange rate, and income statement items are translated at the average exchange rate for the period; resulting translation adjustments are made directly to accumulated other comprehensive income in stockholders' equity. Realized exchange gains and losses are included in current operations and were not material.

REVENUE RECOGNITION

Revenue is recognized from system sales when a product is accepted by the customer, except when sold through a non-combined Bruker affiliate that assumes responsibility for installation, in which case the system sale is recognized upon shipment. Revenue from accessories and parts is recognized upon shipment, and revenue from services, when actually performed.

The Company also offers to its customers extended warranty and service agreements extending beyond the initial year of warranty for a fee. These fees are recorded as deferred revenue and amortized into income over the life of the contract.

ADVERTISING COSTS

Advertising costs are expensed as incurred. Advertising expenses included in sales and marketing were $256,360 for the year ended December 31, 1997.

RESEARCH AND DEVELOPMENT COSTS

Research and development costs are expensed as incurred.

INCOME TAXES

The Company provides for income taxes under the liability method prescribed by SFAS No. 109, "Accounting for Income Taxes." Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statements and tax basis of

F-28

BRUKER DALTONICS INC.

NOTES TO COMBINED FINANCIAL STATEMENTS (Continued)

2. Summary of Significant Accounting Policies (Continued) assets and liabilities using enacted tax rates in effect for the year in which the difference is expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.

ACCOUNTING DEVELOPMENTS

In 1997, the Company adopted SFAS No. 130, "Reporting Comprehensive Income," which establishes rules for reporting of comprehensive income and its components. The components of comprehensive income that relate to the Company are net earnings and foreign currency translation adjustments.

In June 1997, the Financial Accounting Standards Board ("FASB") issued SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities." The provisions of the statement require the recognition of all derivatives as either assets or liabilities in the statement of financial position and the measurement of those instruments at fair value. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation. The Company is required to implement the statement in the first quarter of fiscal 2001. The Company does not believe that this new accounting standard will have a material impact on the financial statements.

3. Inventories

The components of inventories at December 31, 1997 were as follows:

                                                              December 31,
                                                              ------------
                                                                  1997
                                                              ------------
Raw materials...............................................  $ 3,808,502
Work-in-process.............................................    4,269,997
Finished goods..............................................    6,358,317
                                                              -----------
                                                              $14,436,816
                                                              ===========

4. Property, Plant and Equipment

Property, plant and equipment at December 31, 1997 consisted of the following:

                                                              December 31,
                                                              ------------
                                                                  1997
                                                              ------------
Land........................................................  $  1,118,789
Buildings...................................................    24,899,552
Office furniture, machinery and equipment...................    16,639,063
                                                              ------------
                                                                42,657,404
Less accumulated depreciation...............................   (16,484,099)
                                                              ------------
                                                              $ 26,173,305
                                                              ============

Depreciation expense for the year ended December 31, 1997 was $2,340,780.

F-29

BRUKER DALTONICS INC.

NOTES TO COMBINED FINANCIAL STATEMENTS (Continued)

5. Income Taxes

The components of income before provision for income taxes consisted of the following for the year ended December 31, 1997:

                                                               Year Ended
                                                              December 31,
                                                              -------------
                                                                  1997
                                                              -------------
United States...............................................    $  129,039
Foreign.....................................................     1,852,940
                                                                ----------
                                                                $1,981,979
                                                                ==========

Significant components of the provision (benefit) for income taxes for the year ended December 31, 1997 are as follows:

                                                               Year Ended
                                                              December 31,
                                                              -------------
                                                                  1997
                                                              -------------
Current:
  Federal...................................................    $   14,752
  State.....................................................         3,950
  Foreign...................................................        27,311
                                                                ----------
                                                                    46,013
                                                                ----------
Deferred:
  Federal...................................................       (49,806)
  Foreign...................................................     1,630,578
                                                                ----------
                                                                 1,580,772
                                                                ----------
Total income taxes on continuing operations.................    $1,626,785
                                                                ==========

The reconciliation of income tax computed at the U.S. federal statutory tax rates to income tax expense for the year ended December 31, 1997 was as follows:

                                                               Year Ended
                                                              December 31,
                                                              -------------
                                                                  1997
                                                              -------------
Income tax (benefit) at statutory rate......................    $  674,000
Add (deduct)
  Tax differentials on foreign earnings.....................       985,000
  State income taxes........................................         4,000
  Other.....................................................       (36,215)
                                                                ----------
                                                                $1,626,785
                                                                ==========

F-30

BRUKER DALTONICS INC.

NOTES TO COMBINED FINANCIAL STATEMENTS (Continued)

5. Income Taxes (Continued) The components of the Company's deferred income taxes at December 31, 1997 were as follows:

                                                              December 31,
                                                              -------------
                                                                  1997
                                                              -------------
Deferred tax assets:
  Inventory.................................................   $   131,610
  Warranty accrual..........................................        49,000
  Net operating loss credit carryforward....................     1,523,000
  Other.....................................................       498,637
                                                               -----------
                                                                 2,202,247
Deferred tax liabilities:
  Patent litigation costs...................................    (3,385,000)
  Excess tax over book depreciation.........................    (6,004,000)
  Other.....................................................        (4,000)
                                                               -----------
Total deferred tax liabilities..............................    (9,393,000)
                                                               -----------
Net deferred tax liability..................................   $(7,190,753)
                                                               ===========

As of December 31, 1997, the Company had approximately $3 million of net operating loss tax credit carryforwards available to reduce future tax liabilities. These credits expire through the year 2013.

6. Financing Arrangements

The Company maintains revolving lines of credit, of approximately $5,300,000 among German banks at interest rates ranging between 7.25% and 7.50%. At December 31, 1997, $182,881 were outstanding against these revolving lines of credit. The lines are renewable annually in October 1998.

7. Segment and Geographic Information

The Company operates in one business segment and engages in the design, manufacturing and marketing of proprietary life science systems, process analysis systems, and analytical instruments based primarily on mass spectrometry technology.

F-31

BRUKER DALTONICS INC.

NOTES TO COMBINED FINANCIAL STATEMENTS (Continued)

7. Segment and Geographic Information (Continued)
GEOGRAPHIC AREAS

Information concerning principal geographic areas for 1997 are as follows:

                                                               Year Ended
                                                              December 31,
                                                              -------------
                                                                  1997
                                                              -------------
Net product revenues from external customers
  Germany...................................................   $36,019,815
  United States.............................................    13,226,894
                                                               -----------
  Combined..................................................   $49,246,709
                                                               ===========

Net product revenues are attributable to geographic areas based on the region of sale.

                                                              December 31,
                                                              ------------
                                                                  1997
                                                              ------------
Long-lived assets (excluding intangible assets)
  Germany...................................................  $26,026,746
  United States.............................................      146,559
                                                              -----------
  Combined..................................................  $26,173,305
                                                              ===========
Net assets
  Germany...................................................  $ 9,146,007
  United States.............................................      841,695
                                                              -----------
                                                                9,987,702
  Elimination entries.......................................     (117,916)
                                                              -----------
  Combined..................................................  $ 9,869,786
                                                              ===========

8. Discontinued Operations

The Company plans to complete the sale of its FT-IR business to Bruker Optik GmbH in the first half of 2000. The FT-IR business sells and services FT-IR instruments to a variety of markets, outside the Company's core technology platform of mass spectrometry.

Summary results for the discontinued operations for the year ended December 31, 1997 are as follows:

                                                               Year Ended
                                                              December 31,
                                                              ------------
                                                                  1997
                                                              ------------
Net product revenues........................................   $1,643,857
Total costs and expenses....................................    1,295,352
Provision for income taxes..................................      139,654
                                                               ----------
Income from discontinued operations.........................   $  208,851
                                                               ==========

F-32

BRUKER DALTONICS INC.

NOTES TO COMBINED FINANCIAL STATEMENTS (Continued)

8. Discontinued Operations (Continued) The assets and liabilities of the discontinued operations as of December 31, 1997 consisted of accounts payable of $385,869.

9. Related-Party Transactions

As of December 31, 1997, Bruker Daltonik GmbH has two demand loans outstanding aggregating $8,262,617 to Techneon AG, an affiliated company. The loans, which are unsecured, bear interest at 5.25% and 7.50%.

At December 31, 1997, the Group had a $50,000 demand note to the President of the Group. The note, which is unsecured, bears interest at prime (8.50% at December 31, 1997).

The Company recognized sales to affiliated entities of $14,256,695 and purchases from affiliated entities of $3,019,177 in 1997.

In 1997, Bruker Instruments, Inc., a related party, provided administrative and other services to the Company at a cost of $370,391 based on its assessment of the estimated fair market value of such services.

10. Employee Benefit Plans

The Company maintains or sponsors various defined contribution retirement plans that cover domestic and international employees. The Company may make contributions to these plans at its discretion. Retirement benefits earned are generally based on years of service and compensation during active employment. Eligibility is generally determined in accordance with local statutory requirements. However, the level of benefits and terms of vesting may vary among plans. The Company contributed $49,037 in 1997.

11. Commitments and Contingencies

LEASES

The Company leases office and production space from Bruker Instruments, Inc. under a renewable lease. The term of this lease, which was entered into on June 27, 1996, is for three years and four months with one year extensions thereafter. Total rent expense was $125,123 in 1997.

Future minimum rental payments under the Company's operating lease, excluding real estate taxes, insurance and operating costs paid by the Company, are $131,962, $213,782 and $184,350 for 1998, 1999 and 2000, respectively.

GRANTS

The Company has a grant from the National Institute of Standards and Technology (NIST) Advanced Technology Program, which commenced on March 1, 1995 and runs through February 28, 2000. This grant is for the development of a DNA sequencing time-of-flight mass spectrometer with a total project cost of $7.0 million, of which $3.5 million will be reimbursed from NIST. The Company's expenditures were $953,852 in 1997. Amounts reimbursed from NIST were $487,780, and are classified in other revenues.

F-33

BRUKER DALTONICS INC.

NOTES TO COMBINED FINANCIAL STATEMENTS (Continued)

11. Commitments and Contingencies (Continued) Bruker Daltonik GmbH and its subsidiary Bruker Saxonia Analytik GmbH, are the recipients of five grants from German government authorities. The grants were made in connection with the Company's development of specific spectrometers and components of spectrometers. Grants range from $1,203,382 to $6,183,027 and aggregate $16,483,699. The grants expire from December 31, 1997 through January 31, 2001. Aggregate expenditures during the year ended December 31, 1997 totaled $3,744,857. Amounts reimbursed in the aggregate during 1997 totaled $1,390,518 and are classified in other revenues. At December 31, 1997, the Company had no grants receivable.

LEGAL

Various lawsuits, claims and proceedings of a nature considered normal to its businesses are pending against the Company and its subsidiary. The most significant of these are described below.

The Company has a $6.7 million accrued liability at December 31, 1997 related to certain patent infringement litigation filed by a competitor. In 1997, the competitor initiated an action in the United States District Court of Massachusetts alleging patent infringement against the Company and Hewlett-Packard. The competitor has also filed a request for an investigation of its patent infringement claims with the United States International Trade Commission (ITC) and has filed suit against the Company in Germany, France and the United Kingdom. The Massachusetts patent action has been pending the final determination of the ITC action while the actions in Germany, France and the United Kingdom are on going.

Based on a review of the current facts and circumstances, management of the Company believe that the amount of the accrued liability is a reasonable estimate of the exposure to the loss associated with these matters, representing, principally, anticipated legal fees. While acknowledging the uncertainties of litigation, the Company believes that these matters will be resolved without a material effect on the Company's financial position or results of operations. However, an unfavorable outcome of these matters could result in a material adverse impact on the Company's financial statements.

F-34

You should rely only on the information contained in this prospectus. We have not authorized anyone to provide information different from that contained in this prospectus. We are offering to sell, and seeking offers to buy, shares of common stock only in jurisdictions where offers and sales are permitted. The information contained in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus or of any sale of our common stock.

TABLE OF CONTENTS

                                     Page
                                   --------
Prospectus Summary...............      2
The Offering.....................      4
Summary Financial Data...........      5
Risk Factors.....................      6
Special Note Regarding
  Forward-Looking Statements.....     17
Use of Proceeds..................     18
Dividend Policy..................     18
Capitalization...................     19
Dilution.........................     20
Selected Financial Data..........     21
Management's Discussion and
  Analysis of Financial Condition
  and Results of Operations......     23
Business.........................     29
Management.......................     44
Principal Stockholders...........     40
Related Transactions.............     51
Description of Capital Stock.....     54
Shares Eligible for Future
  Sale...........................     57
Underwriting.....................     58
Tax Matters......................     61
Legal Matters....................     65
Experts..........................     65
Where You Can Find More
  Information....................     65
Index to Financial Statements....    F-1

Until , 2000 (25 days after the date of this prospectus), all dealers that buy, sell or trade in these securities, whether or not participating in this offering, may be required to deliver a prospectus. Dealers are also obligated to deliver a prospectus when acting as underwriters and with respect to their unsold allotments or subscriptions.

[LOGO]

Shares

Common Stock

Deutsche Banc Alex. Brown

Warburg Dillon Read LLC

Thomas Weisel Partners LLC

Prospectus

, 2000


PART II. INFORMATION NOT REQUIRED IN PROSPECTUS

ITEM 13. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION

The estimated expenses (other than the underwriting discount) payable in connection with the sale of the common stock offered hereby are as follows, all of which will be paid by the Company:

                                                               AMOUNT
                                                              --------
SEC registration fee........................................  $33,000
NASD filing fee.............................................     *
Nasdaq National Market fee..................................     *
Printing expenses...........................................     *
Legal fees and expenses.....................................     *
Accounting fees and expenses................................     *
Transfer agent and registrar fees and expenses..............     *
Miscellaneous...............................................     *
                                                              -------
Total.......................................................  $  *
                                                              =======


* To be completed by amendment.

ITEM 14. INDEMNIFICATION OF DIRECTORS AND OFFICERS

Section 145 of the General Corporation Law of the State of Delaware provides as follows:

A corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact the he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent or another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suite or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interest of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that his conduct was unlawful.

A corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorney's fees) actually and reasonably incurred by him in connection with the defense or settlement of such action or suit if he acted in good faith and a manner he reasonably believed to in or not opposed to the best interest of the corporation and except that no indemnification shall be made in respect to any claim, issue or matter as to which such person shall have been adjudged to be

II-1


liable to the corporation unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

In addition, pursuant to our certificate of incorporation and bylaws, we shall indemnify our directors and officers against expenses (including judgments or amounts paid in settlement) incurred in any action, civil or criminal, to which any such person is a party by reason of any alleged act or failure to act in his capacity as such, except as to a matter as to which such director or officer shall have been finally adjudged not to have acted in good faith in the reasonable belief that his action was in the best interest of the corporation.

The underwriting agreement between Bruker Daltonics and the underwriters of this offering provides that the underwriters are obligated, under certain circumstances, to indemnify our directors, officers and controlling persons against certain liabilities, including liabilities under the Securities Act. Reference is made to the form of Underwriting Agreement filed at Exhibit 1.1 hereto.

We maintain directors and officers liability insurance for the benefit of our directors and certain of our officers.

ITEM 15. RECENT SALES OF UNREGISTERED SECURITIES

During the three year period ending December 31, 1999, Bruker Daltonics has issued the following securities, none of which has been registered under the Securities Act:

1. On February 1, 1997, we sold 350,000 shares of common stock to Frank H. Laukien for a purchase price of $500 and a capital contribution of $49,500.

2. On June 30, 1997, we sold 1,750,000 shares of common stock to Isolde Laukien for a purchase price of $2,500 and a capital contribution of $247,500; 1,050,000 shares of common stock to Joerg C. Laukien for a purchase price of $1,500 and a capital contribution of $148,500; 1,050,000 shares of common stock to Marc M. Laukien for a purchase price of $1,500 and a capital contribution of $148,500; and 350,000 shares of common stock to Dirk D. Laukien for a purchase price of $500 and a capital contribution of $49,500.

3. On December 21, 1998, we sold 5,750,000 shares of common stock for $11,500 and a capital contribution of $1,138,500 to each of Frank H. Laukien, Isolde Laukien, Joerg C. Laukien, Marc M. Laukien and Dirk D. Laukien.

4. As of April 10, 2000, options to purchase 783,135 shares of common stock were outstanding under Bruker Daltonics' 2000 Stock Option Plan. None of the options are exercisable within 60 days. All of these options were granted in February 2000 to officers, directors, employees and advisors of Bruker Daltonics.

The sales of securities set forth in paragraphs one to three above were exempt from the registration requirements of the Securities Act in reliance on
Section 4(2) thereof, or Regulation D promulgated thereunder, as transactions by an issuer not involving a public offering. The sale of securities set forth in paragraph four above was exempt from the registration requirements of the Securities Act in reliance on Rule 701 promulgated under Section 3(b) of the Securities Act as transactions by an issuer pursuant to compensatory benefit plans and contracts relating to compensation as provided under such Rule 701. The

II-2


granting of stock options described in paragraph four above did not require registration under the Securities Act, or an exemption therefrom, insofar as such grants did not involve a "sale" of securities as such term is used in
Section 2(3) of the Securities Act.

II-3


ITEM 16. EXHIBITS

NO.                                 DESCRIPTION OF DOCUMENTS
---               ------------------------------------------------------------
        *1.1      Form of Underwriting Agreement
         2.1      Asset Purchase Agreement dated July 1, 1996 between the
                  Registrant and Spectrospin AG
         2.2      Share Purchase Agreement dated December 9, 1998 among the
                  Registrant, Bruker Physik AG and the estate of Dr.
                  Guenther R. Laukien
         2.3      Asset Purchase Agreement dated May 28, 1999 between the
                  Registrant and Viking Instruments Corp
         2.4      ProteiGene Share Purchase Agreement dated December 6, 1999
                  between the Registrant and Frank H. Laukien
         2.5      ProteiGene Share Purchase Agreement dated March 1, 2000
                  between the Registrant and Sidney R. Kaufman
         3.1      Amended and Restated Certificate of Incorporation of the
                  Registrant
         3.2      Amended and Restated Bylaws of the Registrant
        *4.1      Specimen stock certificate representing shares of common
                  stock of the Registrant
        *5.1      Opinion of Hutchins, Wheeler & Dittmar, A Professional
                  Corporation
        10.1      2000 Stock Option Plan
        10.2      Sharing Agreement dated as of February 28, 2000 among the
                  Registrant and 13 affiliates of the Registrant
       +10.3      Collaboration and OEM Agreement dated March 6, 2000 between
                  PerkinElmer Instruments LLC and its Affiliates and the
                  Registrant and its Affiliates
       +10.4      Cooperation Agreement dated November 15, 1999 between Bruker
                  Daltonik GmbH and MWG-Biotech AG
       +10.5      License Agreement dated August 10, 1998 between the
                  Registrant and Indiana University's Advanced Research &
                  Technology Institute
        10.6      Lease dated June 27, 1996 between the Registrant and Bruker
                  Instruments, Inc., as amended
       +10.7      ITMS Collaboration Agreement by and between Hewlett-Packard,
                  the Registrant and Bruker Daltonik GmbH, dated April 28,
                  1999
       +10.8      Collaboration Agreement dated December 4, 1997 between
                  Bruker-Franzen Analytik GmbH and Sequenom Instruments GmbH
       *10.9      Agreement by and between the Registrant and Bruker Optik
                  GmbH dated March 30, 2000
        21.1      Subsidiaries of the Registrant
        23.1      Consent of Ernst & Young LLP
        23.2      Consent of BDO
        23.3      Consent of Hutchins, Wheeler & Dittmar, A Professional
                  Corporation (included in Exhibit 5.1)
        24.1      Power of Attorney (included on page II-5)
        27.1      Financial Data Schedule


* To be filed by amendment

II-4


+ Confidential treatment requested as to certain portions, which portions have been omitted and filed separately with the Commission.

All other schedules for which provisions are made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted.

ITEM 17. UNDERTAKINGS

The undersigned registrant hereby undertakes to provide to the underwriters at the closing of this offering specified in the underwriting agreement certificates in such denomination and registered in such names as required by the underwriters to permit proper delivery to each purchaser.

The undersigned registrant hereby undertakes that: (1) for purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective; and (2) for the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to provisions described in Item 14 above, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

II-5


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this amended registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Billerica, Massachusetts, on April 14, 2000.

BRUKER DALTONICS INC.

By:         /s/ FRANK H. LAUKIEN, PH.D.
     -----------------------------------------
              Frank H. Laukien, Ph.D.
       PRESIDENT, CHIEF EXECUTIVE OFFICER AND
                      CHAIRMAN

We, the undersigned officers and directors of Bruker Daltonics, hereby severally constitute and appoint each of Frank H. Laukien and David E. Plunkett to sign for us and in our names in the capacities indicated below, the Registration Statement on Form S-1 filed herewith and any and all pre-effective and post-effective amendments to said Registration Statement, and, in connection with any registration of additional securities pursuant to Rule 464(b) under the Securities Act of 1933, to sign any abbreviated registration statement and any and all amendments thereto, and to file the same, with all exhibits thereto and other documents in connection therewith, in each case, with the Securities and Exchange Commission, and generally do all such things in our names and on our behalf in our capacities consistent with the provisions of the Securities Act of 1933, as amended, and all requirements of the Securities and Exchange Commission.


Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

                 Signature                                     Title                    Date
                 ---------                                     -----                    ----
                                                  President and Chief Executive
        /s/ FRANK H. LAUKIEN, PH.D.               Officer and Chairman of the
-------------------------------------------       Board (Principal Executive       April 14, 2000
          Frank H. Laukien, Ph.D.                 Officer)

           /s/ DAVID E. PLUNKETT                  Chief Financial Officer
-------------------------------------------       (Principal Financial and         April 14, 2000
             David E. Plunkett                    Accounting Officer)

          /s/ DIETER KOCH, PH.D.
-------------------------------------------       Director                         April 14, 2000
            Dieter Koch, Ph.D.

           /s/ BERNHARD WANGLER
-------------------------------------------       Director                         April 14, 2000
             Bernhard Wangler

         /s/ TIMOTHY J. HANSBERRY
-------------------------------------------       Director                         April 14, 2000
           Timothy J. Hansberry

           /s/ WILLIAM A. LINTON
-------------------------------------------       Director                         April 14, 2000
             William A. Linton

            /s/ COLLIN D'SILVA
-------------------------------------------       Director                         April 14, 2000
              Collin D'Silva

           /s/ RICHARD M. STEIN
-------------------------------------------       Director                         April 14, 2000
             Richard M. Stein


EXHIBIT INDEX

NO.                                          DESCRIPTION OF DOCUMENTS
---                        ------------------------------------------------------------
         *1.1              Form of Underwriting Agreement

          2.1              Asset Purchase Agreement dated July 1, 1996 between the
                           Registrant and Spectrospin AG

          2.2              Share Purchase Agreement dated December 9, 1998 among the
                           Registrant, Bruker Physik AG and the estate of Dr.
                           Guenther R. Laukien

          2.3              Asset Purchase Agreement dated May 28, 1999 between the
                           Registrant and Viking Instruments Corp.

          2.4              ProteiGene Share Purchase Agreement dated December 6, 1999
                           between the Registrant and Frank H. Laukien

          2.5              ProteiGene Share Purchase Agreement dated March 1, 2000
                           between the Registrant and Sidney R. Kaufman

          3.1              Amended and Restated Certificate of Incorporation of the
                           Registrant

          3.2              Amended and Restated Bylaws of the Registrant

         *4.1              Specimen stock certificate representing shares of common
                           stock of the Registrant

         *5.1              Opinion of Hutchins, Wheeler & Dittmar, A Professional
                           Corporation

         10.1              2000 Stock Option Plan

         10.2              Sharing Agreement dated as of February 28, 2000 among the
                           Registrant and 13 affiliates of the Registrant

        +10.3              Collaboration and OEM Agreement dated March 6, 2000 between
                           PerkinElmer Instruments LLC and its Affiliates and the
                           Registrant and its Affiliates

        +10.4              Cooperation Agreement dated November 15, 1999 between Bruker
                           Daltonik GmbH and MWG-Biotech AG

        +10.5              License Agreement dated August 10, 1998 between the
                           Registrant and Indiana University's Advanced Research &
                           Technology Institute

         10.6              Lease dated June 27, 1996 between the Registrant and Bruker
                           Instruments, Inc., as amended

        +10.7              ITMS Collaboration Agreement by and between Hewlett-Packard,
                           the Registrant and Bruker Daltonik GmbH, dated April 28,
                           1999

        +10.8              Collaboration Agreement dated December 4, 1997 between
                           Bruker-Franzen Analytik GmbH and Sequenom Instruments GmbH

        *10.9              Agreement by and between the Registrant and Bruker Optik
                           GmbH dated March 30, 2000

         21.1              Subsidiaries of the Registrant

         23.1              Consent of Ernst & Young LLP

         23.2              Consent of BDO

         23.3              Consent of Hutchins, Wheeler & Dittmar, A Professional
                           Corporation (included in Exhibit 5.1)

         24.1              Power of Attorney (included on page II-5)

         27.1              Financial Data Schedule


* To be filed by amendment

+ Confidential treatment requested as to certain portions, which portions

have been omitted and filed separately with the Commission.


Exhibit 2.1

FTMS ASSET PURCHASE AGREEMENT

BETWEEN SPECTROSPIN AG, FALLANDEN,

SWITZERLAND ("SAG"), AND BRUKER ANALYTICAL

SYSTEMS, INC., BILLERICA, MA, USA ("BASI")

1. AS OF JULY 1ST, 1996, BASI HEREBY ASSUME SAG'S LIABILITY, VALUED AS A US $100,000 SAG LIABILITY, FOR PROVIDING SERVICE, INCLUDING WARRANTY SERVICE, SPARE PARTS, AND UPGRADES, TO THE CUSTOMERS LISTED IN ATTACHMENT A, TO WHICH SAG HAS SOLD FOURIER TRANSFORM MASS SPECTROMETRY ("FTMS") EQUIPMENT OVER THE YEARS.

2. SAG HAS TRANSFERRED ITS REMAINING SUBUNIT AND COMPONENT FTMS INVENTORY, UNDER BASI PURCHASE ORDER BE601441, DATED APRIL 11, 1996, WITH A NEGLIGIBLE SAG BOOK VALUE, TO BASI FOR A TOTAL AMOUNT OF $100,000. THIS AMOUNT OF US $100,000 WILL BE THE FINAL AND ONLY INVOICE TO BE ISSUED BY SAG TO BASI FOR BE601441, AND ALL OTHER INVOICES FOR THIS PURCHASE ORDER NO. WILL BE CREDITED OUT BY SAG.

3. AS OF JULY 1ST, 1996, SAG HEREBY TRANSFERS AND / OR EXCLUSIVELY LICENSES TO BASI ALL ITS WORLDWIDE FTMS INTELLECTUAL PROPERTY RIGHTS, INCLUDING BUT NOT LIMITED TO FTMS INVENTIONS, PATENTS, PATENT APPLICATIONS, COPYRIGHTS, TRADEMARKS AND TRADEMARK APPLICATIONS, AND ALL FTMS KNOW-HOW, TRADE-SECRETS, TECHNICAL AND BUSINESS INFORMATION RELATING TO FTMS, VALUED AT US $100,000.

4.       SAG MAKES NO WARRANTIES AND REPRESENTATIONS ABOUT USEABILITY OF
         INVENTORIES, UPPER LIMIT ON TRANSFERRED SERVICE LIABILITY, VALIDITY AND
         ENFORCEABILITY OF INTELLECTUAL PROPERTY, OR ANY OTHER WARRANTY, UNLESS
         EXPLICITLY STATED IN THIS AGREEMENT. BASI DOES NOT ASSUME ANY PRODUCT
         OR PATENT LIABILITY FOR SAG SALES, OR ANY OTHER SAG CONTRACTUAL OR
         OTHER LIABILITY, IF ANY, UNLESS EXPLICITLY AGREED UPON IN THIS
         AGREEMENT.

FOR SAG:                                             FOR BASI:

/s/  WERNER SCHITTENHELM                             /s/  JOHN WRONKA

---------------------------                          ------------------------
WERNER SCHITTENHELM, DIRECTOR                        DR. JOHN WRONKA, V.P.


ATTACHMENT A: LIST OF SAG FTMS CUSTOMERS


Institution and Address                     Installation    Spectrometer
-------------------------                   ------------    -------------
-------------------------                   ------------    -------------

Dr. Rick Willis                             11.95           BioAPEX 47E
Australian Institute of Marine Sciences                     ESI, MALDI, APCI
PMB No. 3                                                   NanoSPRAY
Townsville, M.C.                                            GC, EI/CI, SIMS
Q1d. 4810 AUSTRALIA                                         QEA, Pulsed Valves
Phone: 61 77 789 375
Fax: 61 66 625 752
EMAIL: R_WLLIS@AIMS.GOV.AU

Prof. Jon Amster                            1.96            BioAPEX 70e
University of Georgia                                       ESI and MALDI
Chemistry Department
Athens, GA 30602
Phone: 706 542-2001
Fax: 706-542-9454
EMAIL: amster@sunchem.chem.uga.edu

Prof. Terrance B. McMahon                   6.95            CMS to APEX Upgrade
Department of Chemistry
University of Waterloo
Waterloo, Ontario N2L 3G1 CANADA
Phone: 519 888 4591
Fax: 519 746 0435
EMAIL: mcmahon@watsci.uwaterloo.ca

Prof. Einar Uggerud                         6.95            BioAPEX 47e
University of Oslo                                          ESI and MALDI
Postboks 1033 Blindern                                      EI/CI
N-0315-Oslo                                                 Laser Vaporization Cluster
Norway                                                      Source
Phone: 47 22 85 55 37
Fax: 47 22 85 54 41
email: einar.uggerud@kjemi.uio.no

Prof. Roger Giese                           2.95            APEX 47e with GC/MS
Barnett Institute
Mugar Building
Northeastern University
Boston, MA 02115 USA
Phone: 617 373 3227
Fax: 617 373 8720


Chinese University of Hong Kong        10.94              BioAPEX 47e
Department of Chemistry                                   Electrospray Ionization
Dr. Dominic Chan                                          MALD Ionization
Shatin, New Territories
HONG KONG
Phone: 85 2 2 609 6344
Fax: 85 2 2 603 5057

University of Florida                   2.94              APEX 70e
Department of Chemistry                                   Infinity Cell
Professor John Eyler                                      EI/CI Source
Gainesville, Florida                                      Glow Discharge
USA                                                       Electrospray Ionization
Phone: 904 392-0532
Fax: 904 392-0872

Brigham Young University                1.94              APEX 47e
Department of Chemistry                                   Infinity Cell
Dr. Dave Dearden                                          EI/CI Source
Salt Lake City, Utah                                      Pulsed Valve
USA
Phone: 801 378 2355
Fax: 801 378 5474
EMAIL: deardend@chem.byu.edu

FOM-AMOLF                              11.93              APEX 70e
Atomic and Molecular Physics                              Infinity Cell
Professor Jaap Boon                                       EI/CI Source
Kruislaan 407                                             Pyrolysis Source
1098 SJ Amsterdam
THE NETHERLANDS
Phone: 31 20 608 1234
Fax: 31 20 668 4106
EMAIL: ron@kookaburra.amolf.nl

Prof. Luc VanVaeck                     92                 APEX 47e
Department of Chemistry                                   Laser MicroFocus
University of Antwerp
Universiteitsplein 1
B-2160 Wilrijk
BELGIUM
Phone:  32 3 820 2348
Fax:  32 3 820 2249


Agency for Defense Development              92             APEX 70e
Dept. ATRC-6-6                                             EI/CI Source
Dr. Hwang                                                  SIMS Ionization
Yuseong, Taejon                                            Excimer Laser Dissociation
THE REPUBLIC OF KOREA

University of Rome `La Sapienza'            92             APEX 47e
Institute of Pharmaceutical Chemistry                      Infinity Cell
Professor Fulvio Cacace                                    Nd:YAG Laser Desorption
Piazza Aldo Moro 5                                         EI/CI Source
00185 Rome
ITALY
Phone:  39 49 913 698
Fax:  39 49 913 888

Technical University of Berlin                             CMS 70X
Institute for Organic Chemistry                            EI/CI Source
Professor Helmut Schwarz                                   GC Interface
Strasse des 17 Juni 135                                    FAB Ionization
1000 Berlin                                                Two Pulsed Valves
GERMANY                                                    Laser Desorption
Phone:  49 30 314 23483
Fax:  49 30 314 21102

Technical University of Munich                             CMS 47X
Institute for Physical and Theoretical                     Laser Desorption
    Chemistry
Professor Vladimir Bondybey
Lichtenbergstrasse 4
8046 Garching
GERMANY
Phone:  49 89 3209 3426
Fax:  49 89 3209 3418
Email:  Dr. Gereon Niedner-
Scahttebourg, gereon@anionx.phys.
chemie.tu-muenchen.de


Miami University                               CMS 47X
Dr. Carolyn Cassady                            EI/CI Source
Dept. of Chemistry                             Pulsed Valve
112, Hughes Hall
Oxford, Ohio  45056
USA
Phone:  513 529 2494
Fax:  513 529 1667

University of Waterloo                         CMS 47X
Department of Chemistry                        Infinity Cell
Professor Terry McMahon                        Pulsed Valve
Waterloo, Ontario N2L 3G1
CANADA
Phone:  519 888 4591

University of Bielefeld                        CMS 47X
Faculty for Chemistry                          Infinity Cell
Professor H.-Fr. Gruetzmacher                  EI/CI Source
Universitaetstrasse 25                         Laser Desorption
4800 Bielefeld
GERMANY
Phone:  49 521 106 2072
Fax:  49 521 106 6146
email:  gruetzmacher@chema.uni-
            bielefeld

University of Bremen                           CMS 70
Natural Sciences II                            Laser Desorption
Prof. K.-P. Wanczek
Loebenerstrasse
2800 Bremen 33
GERMANY
Phone:  49 421 218 3402
Fax:  49 421 218 7215

University of Amsterdam                        CMS 47X
Institute for Mass Spectrometry                EI/CI Source
Professor Nico Nibbering                       FAB Ionization
Nieuwe Achtergacht 129
1018 Amsterdam
THE NETHERLANDS
Phone:  31 205 255 457
Fax:  31 205 256 971


Wiomi Pty. Ltd.                                  CMS 47X
Dr. D.M. Kemp                                    GC Interface
P.O. Box 3063                                    SIMS Ionization
0001 Pretoria
SOUTH AFRICA

Ecole Polytechnique                              CMS 47X
Chemistry Department                             EI/CI Source
Prof. Audier                                     Pulsed Valve
91128 Palaiseau
FRANCE
Phone:  33 1 693 34878
Fax:  33 1 693 33010

Academy of Internal Affairs                      CMS 47X
Institute of Criminalistics                      GC Interface
Mrs. Krystyna Zawalska                           FAB Ionization
Ksawerov 13                                      Laser Desorption
00-904 Warsaw
POLAND

SASOL Technology Ltd.                            CMS 47X
Instrumental Techniques                          EI/CI Source
Research & Development                           GC Interface
Dr. Abrie Augustyn                               Laser Desorption
9570 Sasolburg
SOUTH AFRICA

Technical University Darmstadt                   CMS 47
Institute for Physical Chemistry
Dr. Manfred Irion
Petersenstrasse 20
6100 Darmstadt
GERMANY
Phone:  49 61 511 65438
Fax:  49 6151 166015

Consejo Superior de Investigaciones              CMS 47
Cientificas                                      Pulsed Valve
Instituto Rocasolano
Dr. J.-L. Abboud
Serrano 119
28006 Madrid
SPAIN


Russian Academy of Sciences                    CMS 47
Institute of Chemical Physics
Professor V.L. Talrose
Ul. Kosygina 4
117987 Moscow GSP-1
RUSSIA

University of New South Wales                  CMS 47
School of Chemistry                            Solid Probe
Professor Gary Willett                         Nd:YAG Laser Desorption
Kensington 2033
NSW AUSTRALIA
Phone:  61 2 697 4723
Fax:  61 2 662 2835

University of Nice                             CMS 47
Laboratory for Physical Organic
    Chemistry
Dr. Jean-Francois Gal
Parc Valrose
06034 Nice Cedex
FRANCE
Phone:  33 93 529 852
Fax:  33 93 529 919

Institute of Chemical and Biological           CMS 47
   Physics
Professor E.T. Lipmaa
Lenini Priestee 10
2000001 Tallinn
ESTONIA

Institute for Catalysis                        CMS 47
Dr. S. Iwanow
Prospekt Nauki 7
630090 Novosibirsk 90
RUSSIA


EXHIBIT 2.2

CERTIFIED COPY

/crest/

Document

of

Dr. Stiegeler

Notary

Karlsruhe Notary's Offices

Helmholtzstrasse 9 - 76133 Karlsruhe
P. O. Box 46 08 - 76030 Karlsruhe
Telephone: 07 21/9 26-62 63

DOCUMENT REGISTER 2 UR 4682/98

Bruker Daltonics, Inc.,
44 Manning Road, Billerica, MA 01821
USA

Order No. 1115 document cover (VB 2.79)


2 UR 4682/98

PUBLIC DOCUMENT

of

Dr. Stiegeler

Notary

NOTARY'S OFFICE 2, KARLSRUHE

Helmholtzstrasse 9, 76133 Karlsruhe
Telephone: 0721/926-6263

concerning the

TRANSFER OF AN
INTEREST IN A GmbH

PLACE OF NOTARIAL RECORDING:
Helmholtzstrasse 9-11, Karlsruhe

DATE OF NOTARIAL RECORDING:
December ninth,
nineteen hundred ninety-eight

- December 9, 1998 -


Present:

1. Ms. Isolde Laukien nee Mahler, born January 4, 1940, residing at Silberstreifen 8, 76287 Rheinstetten

acting as sole executive of

BRUKER-PHYSIK AKTIENGESELLSCHAFT

located in Rheinstetten (Silberstreifen 4, 76287 Rheinstetten)

listed in the Commercial Register of the Karlsruhe Amtsgericht [District Court], HRB 84.

The notary has certified this power of representation based on inspection of the Commercial Register of the Karlsruhe District Court on December 4, 1998.

2. Mr. Jorg Laukien, born December 10, 1954, residing at Uhlandstrasse 10, 76275 Ettlingen,

acting on his own account, and for account of

the other heirs of the late Prof. Dr. Gunter Rudi Fritz Laukien

as listed in the joint certificate of inheritance dated July 21, 1997 (Notary's Office 2, Karlsruhe - Probate Court - 2 GRN 157/97), the original of which is present today, a photocopy of which is attached to this document, the conformity of which with the original is hereby certified,

based on the power of attorney dated May 15, 1998, submitted in the original, returned, and a photocopy of which is attached to this document, the conformity of which with the original is hereby certified.

3. Mr. Frank H. Laukien, born February 4, 1960, residing at 12 Smith Hill Road, Lincoln, MA 01773, USA,

acting as President and Authorized Representative for

BRUKER DALTONICS, INC., 44 MANNING ROAD, BILLERICA, MASSACHUSETTS 01821

who submitted the originals of the elements of proof adjoining this document.

After their identities were established by means of Federal identity cards/passports, the persons appearing before me made the following declaration:


-3-

AT THE REQUEST OF THE PERSONS APPEARING BEFORE ME, I HEREBY DOCUMENT THEIR DECLARATIONS, WHICH THEY MADE WHILE BEING PRESENT TOGETHER AT THE SAME TIME, AS FOLLOWS:

I.

PRELIMINARY REMARKS

1. The

BRUKER DALTONIK GmbH

company, with headquarters in Bremen, is listed in the Commercial Register of the Bremen District Court HRB 8150.

2. The nominal capital of the company is DM 5,000,000.00.

3. The nominal capital is held as follows:

a)   Bruker Physik AG
     Rheinstetten,
     A participating share in the amount of     DM 1,275,000.00

b)   Community of heirs of Prof. Dr. G. Laukien
     A participating share in the amount of     DM 3,725,000.00

4. According to information from the parties concerned, the nominal capital is fully paid in.


-4-

II.

TRANSFER OF INTEREST

The appearing parties as defined in paragraph 1 above hereby transfer their interest in the amount of DM 1,275,000.00 in the above-mentioned GmbH, along with all rights and in rem components in exclusive rights, to the appearing parties as defined in paragraph 3 above.

The appearing parties as defined in paragraph 2 above hereby transfer their interest in the amount of DM 3,725,000.00 in the above-mentioned GmbH, along with all rights and in rem components in exclusive rights, to the appearing parties as defined in paragraph 3 above.

Agreement has been reached concerning this transfer of rights. The transferee accepts this transfer. Security of the trade relationship is not desired.

III.

TERMS/CONSIDERATION

1. The transfer made today is effective as of today's date.

2. The transferee is entitled to the claim on a pro rata share in annual net profits for previous years and the current year, unless already paid out to the shareholders.

3. The contract price for the transferred interests is DM 9,030,000.00 (in words: nine million thirty thousand). Of that amount, the community of heirs receives DM 6,727,350.00 and Bruker Physik AG receives DM 2,302,650.00.

4. The contract price must be paid by December 31, 1998.

- 5 -

-5-

IV.

GUARANTEE

The transferor guarantees only the existence of the interest, the fact that it is paid up in the amount indicated, and the free and unfettered transfer of rights. More extensive liability, specifically for the quality of the business undertakings of the company, is ruled out.

V.

CONSENT

Pursuant to the partnership agreement, no consent of the company/shareholders is required for today's transfer of interest. By way of precaution, this consent is hereby given.

The manager here present, Mr. Frank Laukien, hereby accepts the application for transfer.

VI.

COSTS

All costs associated with this document and any inheritance taxes shall be paid by the appearing party as defined in paragraph 3 above. The bill of charges shall be sent to the Wangler Law Offices.

VII.

CONCLUSION

The notary informed those present of the Beurkundungsgesetz [Document Authentication Act], specifically section 16 GmbHG [Law on Limited Liability Companies], section 24 GmbHG, and the joint and several liability for costs of the interested parties. According to information provided by the interested parties, the company has real property in Bremen and Leipzig.


-6-

The interested parties expressly waived verification by the notary of the information regarding the content of the partnership agreement.

The notary recommended that tax professionals be consulted for purposes of obtaining tax advice and information.

CONCLUSION:

1. The notary provided the requisite information. Specifically, he informed the parties of the liability of transferors and transferees with respect to shares not fully paid in, the risk of advance performance, as well as the need to document any collateral agreements.

The notary mentioned the duty of the general manager, pursuant to section 40 GmbHG, to file a revised shareholder list with the registration court.

2. The following are to be distributed:

- a certified photocopy to each of the interested parties;
- a certified photocopy to the Bremen Tax Office, pursuant to section 54 EStDV [Income Tax Implementing Regulation] - a certified photocopy for information to: Wangler Law Offices, Kriegsstrasse 133, 76135 Karlsruhe
- announcement of the transfer to the registration court, Bremen District Court

- 2 certified photocopies to the Bremen Tax Office - Real Property Transfer Tax Office -
- 2 certified photocopies to the Leipzig Tax Office
- Real Property Transfer Tax Office -.

The notary read the foregoing document aloud to the interested parties; it was approved by them, and signed by hand by them and by the notary, as follows:

/signatures/


ACKNOWLEDGMENT OF TRANSLATION

April 13, 2000

The undersigned officer of the Registrant hereby acknowledges on behalf of the Registrant that the foregoing translation of the Share Purchase Agreement dated December 9, 1998 among the Registrant, Bruker Physik AG and the estate of Dr. Guenther R. Laukien is a fair and accurate English translation from German of the original executed agreement.

BRUKER DALTONICS INC.

By: /s/ David E. Plunkett
   --------------------------------
Name: David E. Plunkett
Title: Treasurer


Exhibit 2.3

Thomas Kuehn, Ph.D., President
May 28, 1999

May 28, 1999

VIA TELECOPIER (301) 320-1690

Thomas Kuehn, Ph.D., President
Viking Instruments Corporation
c/o Woodmont Asset Management, Inc.
6403 Kirby Road
Bethesda, MD 20817

Dear Dr. Kuehn:

As you are aware, on May 25, 1999, the Bankruptcy Court extended the time to submit offers to purchase the business and assets of Viking Instruments Corporation ("Viking") until June 8, 1999. The following constitutes Bruker's final offer for it or its nominee to acquire from Viking the business and certain assets of Viking for One Hundred Fifty Thousand Dollars ($150,000.00) cash, including an initial advance in the amount of up to Thirty Thousand Dollars ($30,000.00) as post-petition debtor-in-possession financing to be credited to the purchase price (such initial advance being referred to herein as the "DIP Financing"), subject to the terms set forth in this letter. This offer replaces and supercedes all previous offers to Viking.

Bruker continues to believe that a prompt approval of a sale to it and closing of the transaction remain absolutely critical to the viability of this offer. Every day of delay runs the risk of further diminishing the goodwill of Viking and its value as an ongoing business. Bruker believes that this offer is in the best interests of all parties, including Viking's employees, creditors, vendors and customers, and urge that it be considered promptly. It is urgent that the steps referred to below proceed as expeditiously as possible if this transaction is to succeed.


Thomas Kuehn, Ph.D., President
May 28, 1999

I. Objectives

Bruker has certain key objectives which must be realized if this offer to purchase the business and certain assets of Viking is to be consummated.

First, it is critical that the goodwill of the business be preserved. Thus, Bruker would contemplate a closing as soon as practicable but not later than June 23, 1999. In the interim, it is important that satisfactory arrangements be made to preserve relationships with existing customers of Viking.

Second, a significant asset of Viking is its organization. All parties must act quickly if the Viking organization, with its many skills and talents, is to remain intact. As a condition to the closing of the transaction, Bruker would expect that the following Viking employees would become employees of, or consultants to, Bruker: Thomas Kuehn, Ph.D.; Mark Wilson, Ph.D.; Yuchi Huang, Ph.D., Brian Eckenrode, Ph.D.; Paul Groves; and Ken Cope (the "Employees"). As set forth below, Bruker contemplates that, between the time this offer is accepted and the close of business on June 7, 1999, it shall obtain from each of the Employees agreements (on terms acceptable to Bruker in its sole discretion) that the Employees will make themselves available to be employed by, or consultants to, Bruker.

Third, Bruker must be able to acquire the tangible and intangible assets described below free and clear of all liens, claims, interests and encumbrances of any kind. Bruker understands that, on October 29, 1998, Viking filed under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code"). Given Viking's present financial condition, Bruker believes that the transactions outlined in this letter will not be possible except under the umbrella of court supervision.

Fourth, it is contemplated that after the closing Viking's business will be integrated into Bruker as a focused business unit. Brian Abraham, Ph.D. of Bruker will oversee the transition of the assets and business acquired pursuant to this offer to Bruker's operations in Massachusetts.

To accomplish these objectives, Bruker is prepared to purchase certain assets of Viking, and pending consummation of this purchase (and subject to the limitations contained herein) to provide Viking, as additional consideration for the purchase, with the DIP Financing.

- 2 -

Thomas Kuehn, Ph.D., President
May 28, 1999

II. The Acquisition

A. Assumption of Liabilities. Bruker will not assume any liabilities of Viking of any kind.

B. Included Assets. Bruker will acquire all of Viking's assets other than the Excluded Assets identified below (the "Included Assets"), including, without limitation the following:

a. Intangible Assets. The assets to be acquired include all intangible assets of Viking of every kind, including but not limited to (i) all Viking trademarks and associated goodwill, including registration and applications for registrations, renewals and extensions; (ii) all patents, patent applications, interest in inventions, know-how, trade secrets, confidential information, techniques, specifications, schematics, and logic diagrams including, without limitation, all patents for or related to the Transportable Gas Chromatograph Mass Spectometer; (iii) interest in customer lists, sales prospect lists including, without limitation, all files and records related to transactions with customers of all kinds; (iv) copyrights and interest in copyrightable subject matter, including, without limitation, all works of authorship, software, firmware, microcode, computer programs, documentation and designs, and unregistered trade names including SpectraTrak, SpectraScan, Viking GC/MS, and Viking Instrument; (v) all rights, including without limitation, all intellectual property rights, under Viking's contracts with its employees, contractors and consultants; (vi) all right, title and interest in SpectraScan(TM) Software Operating System for SpectraTrak 573 System including the object and source code and the copyrights thereto; and (vii) all right, title and interest in SpectraTrak(TM) Model 573 Transportable GC/MS Design Package including mechanical design drawings, electrical and wiring harness design drawings and bill of materials.

b. Machinery, Equipment, Furnishing, Fixtures, and Supplies. The transaction would include all machinery, equipment (including, without limitation, computers, printers and laboratory equipment), furniture, fixtures, and supplies of Viking.

c. Work in Process. In addition, the transaction includes an assignment of so much of Viking's present work in process as shall not have been filled as of the closing of this transaction and any additional work in process which may be developed by Viking during the period of the DIP Financing and not filled as of the closing of this transaction, subject to any required consents of third parties (collectively, the "Work In Process"), including but not limited to unfilled purchase orders and other contract rights related to the order from Viking customers for Viking products; provided, however, that Bruker reserves the right not to accept an assignment of those Work In Process orders which Bruker, upon further review and in its sole discretion, determines not to accept for credit or any other reason.

- 3 -

Thomas Kuehn, Ph.D., President
May 28, 1999

Bruker shall notify Viking in writing on or before June 22, 1999 whether it intends not to accept any Work In Process orders.

d. Certain Leases and Executory Contracts. In addition, the transaction would include the assumption and assignment of such leases and executory contracts of Viking as Bruker may deem appropriate, which leases and executory contracts shall be identified by Bruker at any time before closing or within 30 days thereafter. Viking shall take any and all steps, including obtaining any necessary orders from the Bankruptcy Court, and pay any and all cure and/or compensation amounts, necessary to effectuate the assumption and assignment of the identified leases and executory contracts.

e. Inventory. All inventory, including without limitation: all raw materials; all finished products; all manufacturing inventory including, without limitation, all SpectraTrak(TM) Model 573 GL sub-assemblies, SpectraTrak(TM) Model 572 chassis components and GL sub-assemblies and all mechanical, electronic, and vacuum components and parts; all open stock; all service parts inventory including, without limitation, all new and used parts for SpectraTrak(TM) Models 600, 620, SpectraTrak(TM) Model 572 Transportable GC/MS and SpectraTrak(TM) Model 772 Process GC/MS, SpectraScan operating system software master duplication disks for SpectraTrak(TM) Models 620, 672, 572 and 772 and operating, maintenance, specifications, and design documents and manuals for out-of-production ST600, 620, 672, 572, 772 and other prototype products.

f. Listed Assets. Without limiting any of the foregoing, the Included Assets includes the assets listed on the attached Exhibit A.

C. Excluded Assets. The transaction would exclude (1) all causes of action pursuant to Section 544, 547, 548, 549 and 550 of the Bankruptcy Code (11 U.S.C. ss.ss.101 et seq.) ("Avoidance Actions"), (2) any cash of Viking on hand as of the closing of the sale, (3) any accounts receivable and (4) any executory contracts not specifically assumed and assigned to Bruker in accordance with the terms of this Letter Agreement.

D. Purchase Price. In consideration for the Included Assets, Bruker shall pay Viking One Hundred Fifty Thousand Dollars ($150,000.00) (the "Purchase Price") in immediately available funds at the closing of the sale the Assets subject to the satisfaction of the conditions set forth below.

E. Conditions This offer is subject to the following conditions, all of which must be satisfied by the date indicated, or if no date is indicated, prior to the closing, unless waived in writing by Bruker:

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Thomas Kuehn, Ph.D., President
May 28, 1999

1. It shall have been accepted in writing by Viking or Viking's successor in interest entitled to so accept by signing and returning to the undersigned a copy of this letter no later than 5:00 p.m. (Boston time) on June 2, 1999.

2. The sale of the Assets shall have been authorized and confirmed by order of a Bankruptcy Court Judge having authority to do so (the "Sale Order") on or before June 8, 1999, upon proper notice to all creditors of Viking's bankruptcy estate and other parties entitled to such notice by the Federal Rules of Bankruptcy Procedure or by the Local Bankruptcy Rules of the United States Bankruptcy Court for the Eastern District of Virginia, or otherwise by operation of law, with the appeal period from such order having finally passed without a notice of appeal having been filed, or each appeal having been dismissed or withdrawn within thirty (30) days after such notice was filed. At Bruker's option, the closing may take place if an appeal is filed, but no stay pending appeal has been issued.

3. The Sale Order referenced above shall have authorized the transfer of title to the Included Assets free and clear of liens, encumbrances, interests, security interests, taxes and adverse claims of every nature and character. To the extent a complaint must be filed in the Bankruptcy Court to accomplish the foregoing, a judgment shall have entered thereon in the Plaintiffs favor and proof of service on all Defendants shall have been filed of record with the Bankruptcy Court. In addition, the Sale Order shall contain a specific finding that Bruker is purchasing the Assets in good faith; (b) be substantially similar to the form of order attached hereto as Exhibit B, and (c) otherwise be satisfactory to Bruker.

4. The DIP Financing shall have been authorized and confirmed by an interim and final order of a Bankruptcy Court Judge having authority to do so (the "DIP Financing Order") entered contemporaneously with the entry of the Sale Order, upon proper notice to all creditors of Viking's bankruptcy estate and other parties entitled to such notice by the Federal Rules of Bankruptcy Procedure or by the Local Bankruptcy Rules of the United States Bankruptcy Court for the Eastern District of Virginia, or otherwise by operation of law, with the appeal period from such order having finally passed without a notice of appeal having been filed, or each appeal having been dismissed or withdrawn within thirty (30) days after such notice was filed. At Bruker's option, funding under the DIP Financing may take place if an appeal is filed, but no stay pending appeal has been issued.

5. The DIP Financing Order shall have authorized the DIP Financing on the terms and conditions set forth below. In addition, the DIP Financing Order shall contain a specific finding that Bruker is furnishing the DIP Financing in good faith; (b) be substantially similar to the form of order attached hereto as Exhibits C, and (c) otherwise be satisfactory to Bruker.

6. A Bankruptcy Court having jurisdiction over Viking's Chapter 11 case and authority to do so shall have entered the Procedure Order (as hereinafter defined).

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Thomas Kuehn, Ph.D., President
May 28, 1999

7. After the acceptance of this offer, Bruker shall have met with the Employees and, no later than June 7, 1999, shall have received from each of the Employees agreements that the Employees will make themselves available to be employed by, or consultants to, Bruker on terms acceptable to Bruker.

8. Bruker shall have the right to rescind this Offer if between the date hereof and the Closing there shall be a material adverse change in the condition of the Included Assets, irrespective of whether or not they shall have been insured; provided, however, that Bruker, with respect to each of the Included Assets not in the same condition, shall have the right at its election to complete the purchase contemplated hereby and either (a) become entitled to all insurance proceeds collected or to be collected by reason of damage to or loss of the respective Asset or (b) receive a credit against the Purchase Price for the diminution in the fair market value of the respective Asset by reason of damage to or loss of such Asset. So long as the value of the Assets shall not have been diminished by more than Twenty-Five Thousand Dollars ($25,000.00) in the aggregate as a result of changes in their condition, Bruker shall not exercise its right to rescind this Offer and, thereby terminate this Agreement, but rather will complete the purchase and exercise one of the options above.

9. There shall be no injunction, restraining order, or order of any nature issued by a court of competent jurisdiction, restraining or preventing the carrying out of the transactions contemplated hereby, and no proceeding challenging this transaction shall have been instituted or threatened.

10. Execution of security documentation for the DIP Financing referred to below, in form and substance satisfactory to Bruker.

11. Unless extended by Bruker, as provided below, closing not later than June 23, 1999 (the "Closing Date").

12. By June 7, 1999, Bruker shall have received (a) the certified year-end financials of Viking for fiscal year 1998, and (b) the financials of Viking for January, February and March, 1999 (collectively, the "Financials"); and further said Financials shall not vary from the representations made to Bruker regarding the condition of Viking.

13. Bruker being satisfied (in its absolute discretion) with the results of a due diligence investigation to be completed by Bruker and/or its representative by 6:00 p.m. (Boston time) June 22, 1999 (the "Diligence Deadline") including but not limited to satisfaction that Bruker will have available to it all resources necessary for the continued operation of Viking's business on acceptable terms. If Bruker is not satisfied with its due diligence, it shall so notify Viking in writing by the Diligence Deadline and upon such notice this offer and the Sale Order shall be of no further force or effect, and neither Viking nor Bruker shall have any liability or obligation to the other arising from or related to this offer and the Sale

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Thomas Kuehn, Ph.D., President
May 28, 1999

Order and the transaction contemplated hereby, other than in respect of the DIP Financing. In addition, Bruker shall have the right in its sole discretion on or before the Diligence Deadline not to accept any Work In Process order. Bruker shall have no liability for or any obligation under any Work In Process not accepted.

14. On or before the Closing Date, Viking shall obtain authority from the Bankruptcy Court or from its landlord that authorizes Bruker to enter and occupy the premises located at 44901 Falcon Place, Suite 116, Dulles, Virginia (the "Premises") from the Closing Date up to and including August 31, 1999, to operate Viking's business and/or to remove the Included Assets on terms where Bruker's only obligation is to pay on Viking's behalf, in accordance with the terms of its lease for the Premises, the current rent due under that lease for the period from the Closing Date through and including August 31, 1999.

15. Promptly upon Viking's acceptance of this offer, Viking will proceed to seek authority from the Bankruptcy Court (a) to sell the Included Assets and obtain the DIP Financing and otherwise to perform in accordance with this offer and (b) use its best efforts to obtain a Bankruptcy Court order approving the sales procedures described in Article IV of this offer (the "Procedure Order").

F. Closing of Acquisition. There shall be a closing of the acquisition within thirty (30) business days following the entry of the Sale Order of the Bankruptcy Court as contemplated under the Conditions sections of this offer; provided that the closing shall occur no later than June 23, 1999 except as provided below. If the closing shall not have occurred by such date, Bruker shall have the right, at its sole election and from time to time, to extend such period for one or more additional periods of not more than 10 days each by giving written notice thereof to Viking prior to the expiration of the then current period, except that Bruker may not, without the written consent of Viking, extend such period for more than 90 days from the date of this letter. At the closing, Viking shall execute and deliver to Bruker such bills of sale, assignments and other instruments of transfer and documentation as Bruker may request, in form and substance acceptance to Bruker.

III. The DIP Financing

As additional consideration for the purchase contemplated hereby, Bruker would provide to Viking, from and after the entry of the Sale Order through the date of the acquisition, but in any event, no longer than through June 23, 1999, financing for its post-petition operations in an amount not to exceed Thirty Thousand Dollars ($30,000.00), subject to the following terms and conditions:

1. All DIP Financing extended by Bruker to Viking shall bear interest at a rate per annum of 12% (such interest rate being referred to herein as the "Interest Rate"); provided, however, that such interest shall be waived and shall not be payable by Viking except if the closing of the sale of the Included Assets to Bruker shall not

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Thomas Kuehn, Ph.D., President
May 28, 1999

have occurred by June 23, 1999, the DIP Financing and all accumulated interest thereon shall be immediately due and payable.

2. No DIP Financing shall be used to pay any pre-petition liabilities, except as otherwise agreed to in writing by Bruker and approved by the Bankruptcy Court.

3. Before the DIP Financing is extended, Bruker must be granted by order of the Bankruptcy Court the following security interests and protections to secure such DIP Financing (including any interest payable pursuant to the provisions of this agreement and reasonable costs of collection, including reasonable attorneys' fees) on such terms and subject to such documentation as shall be acceptable to Bruker:

a. The DIP Financing shall be secured by a first priority security interest and lien in favor of Bruker on all assets of Viking whether now owned or hereinafter acquired, pursuant to ss.364(c)(2) of the Bankruptcy Code, which security interest and lien shall be valid, fully perfected and enforceable by action of law, provided, however, that this security interest and lien shall not extend to Avoidance Actions and shall be subordinate only to Hewlett-Packard Company's security interest on certain Viking assets and securing a claim of not more than $24,000.00;

b. The DIP Financing shall be an obligation of Viking with priority over all administrative expenses of the kind specified in ss.ss.503(b) or 507(b) of the Bankruptcy Code, pursuant to ss.364(c)(1) of the Bankruptcy Code; and

c. Bruker shall be deemed to be a good faith lender, pursuant to ss.364(e) of the Bankruptcy Code.

4. As a condition to such DIP Financing, the Bankruptcy Court must have entered the DIP Financing Order in the form attached as Exhibit C, which among other things, prescribes various events of default and authorizes the borrowing by Viking and granting to Bruker the security interests and protections described above, and Bruker must be provided a certified copy of such orders.

5. During the period any DIP Financing is outstanding, and as a condition to the extension of such DIP Financing by Bruker, Viking shall provide Bruker with copies of Viking's monthly reports of cash flow and expenditures filed with the United States Trustee's office, such copies to be provided to Bruker when and as filed with such office; and, by the third business day of each week, a report substantially the same as such reports filed with the United States Trustee, containing substantially the same information with respect to the preceding week.

6. The proceeds of any DIP Financing provided by Bruker to Viking shall be used and applied only in accordance with a weekly budget of cash receipts and disbursements for the period June 9, 1999 through and including June 23, 1999,

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Thomas Kuehn, Ph.D., President
May 28, 1999

prepared by Viking and submitted to Bruker for approval at least twenty-four (24) hours earlier than the earliest to occur of (a) the first date scheduled for a hearing on the DIP Financing and (b) June 8, 1999. Bruker's advances under the DIP Financing shall be made weekly in accordance with the expected needs under such an approved budget. It shall be an event of the default and the full amount of all DIP Financing together with accrued interest at the Interest Rate shall immediately become due if for any individual week, without Bruker's written consent, (1) Viking's actual cash receipts are less than ninety percent (90%) of budgeted cash receipts in any one week or less than eighty-five percent (85%) of budgeted cash receipts from the beginning of the budget through any given date; or
(2) Viking's actual disbursements for any budgeted line item in any one week exceed budgeted amounts for that line item in that week by more than 10%, or (3) Viking's actual disbursements for all budgeted line items on a cumulative basis at any given time during the budget period exceed all budgeted disbursements as of that time by 25%. By Wednesday of each week, Viking shall provide Bruker with a report showing any variance between its actual performance and its budget performance through the prior Friday on a weekly and cumulative basis.

7. Notwithstanding anything to the contrary contained elsewhere herein, all outstanding DIP Financing plus interest at the Interest Rate shall become immediately due and payable upon the sale of all or any material portion of the Included Assets, individually or collectively, to one or more persons or entities other than Bruker or its nominee, or the termination of this offer pursuant to Article II, ss.ss.8 and 13.

8. Any DIP Financing which does not otherwise become due and payable by Viking in accordance with the foregoing provisions shall be repaid by Viking on the sale or other disposition of any assets in which Bruker is granted a security interest hereunder.

9. In addition to any other rights granted to it hereunder, Bruker shall have the right to obtain and make copies of all files and records of Viking related to any assets in which Bruker is granted a security interest hereunder for the purpose of collecting any monies owed to Bruker under the DIP Financing; and, if Viking sells or otherwise disposes of any such assets, it shall make reasonable arrangements to allow Bruker continued access to such files and records for such purposes.

10. As a condition to the DIP Financing, the Bankruptcy Court shall have entered the Sale Order authorizing the sale of the Included Assets to Bruker.

11. At a closing of the sale of the Included Assets to Bruker in accordance with the terms of this offer, the DIP Financing (without interest) shall be credited against the Purchase Price.

IV. Sale of the Assets to a Third Party

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Thomas Kuehn, Ph.D., President
May 28, 1999

1. Bruker understands that its offer in this letter will be subject to higher and better counteroffers before the Bankruptcy Court. Notwithstanding this, Bruker, by this offer, has evidenced its strong desire to assist Viking in resolving its immediate financial problems and, in doing so, has incurred, and may in the future incur, material risks and costs, including but not limited to the risks and costs of the DIP Financing, due diligence and negotiations with the Employees which Bruker would not have offered or incurred except as part of its integrated purchase offer set forth herein. Accordingly, in the event that a third party submits a higher and better counteroffer, which is accepted by Viking and approved by the Bankruptcy Court, Viking shall, concurrently with the closing of such third party acquisition, pay or cause to be paid to Bruker: (i) the full amount of all DIP Financing outstanding at the date of such third party closing together with accrued interest at the Interest Rate from the date such DIP Financing was provided plus (ii) the sum of Fifteen Thousand Dollars ($15,000.00), such amount representing an agreed amount to compensate Bruker for its risks, costs and expenses associated with this transaction, including but not limited to attorneys' fees. Furthermore, for a counteroffer to qualify as a higher and better counteroffer, it must be at least five percent (5%) greater than the Purchase Price.

2. Bruker also understands that Viking's acceptance of this offer is subject to the condition that if there are any qualified counter-offers for the Included Assets that the highest and best final offer for the Included Assets shall be determined by traditional auction procedures rather than by the use of sealed bids and hereby consents to such sale procedures.

3. As a condition to this transaction, the Bankruptcy Court must enter the Procedure Order approving the provisions of this Article IV and the time line for this transaction as set forth above such that the Sale Order is entered by June 8, 1999.

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Thomas Kuehn, Ph.D., President
May 28, 1999

V. General

1. This agreement shall be governed by the laws of the Commonwealth of Massachusetts, without giving effect to principles of conflicts of laws.

2. This agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

3. This agreement may not be amended or modified without the prior written agreement of the parties. No waiver of any provision contained herein shall be effective unless in writing and signed by the party against which such waiver is sought to be enforced, nor shall a waiver in any instance operate as a general waiver unless expressly stated in such signed writing.

4. This agreement shall be binding upon the parties hereto and their respective successors and assigns; provided, however, that Viking may not assign any of its interests hereunder without the prior written consent of Bruker.

5. Neither party shall be liable to the other for any consequential damages arising out of or in connection with this agreement.

6. The provisions of this agreement and any rights, duties and obligations pursuant hereto shall survive (a) the closing contemplated hereby, (b) any sale to a third party, and/or (c) the entry of any order which may be entered (i) confirming any plan of reorganization, (ii) converting this case from Chapter 11 to Chapter 7, or (iii) dismissing this case; and the terms and provisions of this agreement as well as the rights, duties and obligations pursuant hereto shall continue in full force and effect notwithstanding any such sale or the entry of any such order.

7. All notices, requests, demands or other communications required or permitted hereunder shall be in writing and shall be deemed to have been duly given when delivered by hand or mailed, first class certified mail with postage prepaid or by overnight receipted courier service, or when sent by confirmed telefax, to the intended recipient at the address for notices specified below or, as to either party, at such other address as shall be designated by such party in any notice to the other party:

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Thomas Kuehn, Ph.D., President
May 28, 1999

If to Bruker:

Frank H. Laukien, Ph.D., President

Bruker Daltonics, Inc.
44 Manning Road
Billerica, MA 01821

with a copy to:

Andrew M. Troop, Esq.

Hutchins, Wheeler & Dittmar

A Professional Corporation
101 Federal Street
Boston, Massachusetts 02110
Fax: (617) 951-1295

If to Viking:

Viking Instruments Corporation
44901 Falcon Place, Suite 116
Dulles, Virginia 20166

Attention: Thomas Kuehn, Ph.D., President Fax:

with a copy to:

John E. Carter, P.C.

10560 Main Street, Suite 311
P.O. Box 890
Fairfax, VA 22030

Fax:

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Thomas Kuehn, Ph.D., President
May 28, 1999

VI. Conclusion

Again, if this offer is acceptable, please so indicate by executing a copy of this letter and returning it to Bruker no later than 5:00 p.m. (Boston time) on June 2, 1999. If this offer is not accepted in writing by that time, the offer shall be of no further force or effect.

Very truly yours,

BRUKER DALTONICS, INC.

By:       /s/ Frank H. Laukien
   ------------------------------
          Frank H. Laukien, Ph.D.
          Its President, Duly Authorized

Agreed and Accepted:

By:  /s/ Thomas J. Kuehn
   -------------------------
     Thomas Kuehn, Ph.D.
     Its President, Duly Authorized

Date: June 2, 1999
     --------------

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List of Assets for Sale by Viking Instruments Corporation

1. Transportable Gas Chromatograph Mass Spectrometer Patent
a. International publication #WO 90/15658, "Miniaturized Mass Spectrometer System" Awarded 12/27/90
b. US Patent #5,313,061, "Miniaturized Mass Spectrometer System" Awarded 5/17/94
c. European Patent #0476062, "Miniaturized Mass Spectrometer System" Dated 6/6/90
d. German Patent #690283041.0, "Miniaturized Mass Spectrometer System" Dated 6/6/90
e. UK Patent #2249662, "Miniaturized Mass Spectrometer System" Dated 6/6/90
f. Canada Patent #2,058,763-6, "Miniaturized Mass Spectrometer System" Awarded 4/21/98
g. Japan Patent #Hei-2-509224, "Miniaturized Mass Spectrometer System",
(Pending)

2. SpectraTrak(TM) Model 573 Transportable GC/MS Design Package (Incomplete)
a. Mechanical design drawings
b. Electrical and wiring harness design drawings
c. Bill of materials
d. Operating and maintenance manual not available
e. Assembly drawings or schematics not available
f. Requires HP5973 mass selective detector OEM component kit for manufacture and operation

3. SpectraScan(TM) Software Operating System for SpectraTrak 573 System
(Incomplete)
a. Copyright of user interface and code
b. Master duplication disk
c. Undocumented assembly code
d. Software manual not available
e. Requires OEM version of HP Chemstation 3.x license for operation
f. Requires OEM version of NIST mass spectral library license for operation
g. Requires Windows 95 and other software utility licenses for operation

4. Manufacturing Inventory and Open Stock
a. Miscellaneous SpectraTrak(TM) Model 573 GC subassemblies (2 sets)
b. Miscellaneous SpectraTrak(TM) Model 572 chassis components and GC subassemblies (2 sets)
c. Miscellaneous mechanical, electronic, and vacuum components and parts
d. Inventory excludes any components, parts, and instruments manufactured by Hewlett Packard

5. Service Parts Inventory, Documentation, and Service Contracts
a. Miscellaneous new and used parts for SpectraTrak(TM) Models 600, 620, and 672 Transportable GC/MS (1989-1997) with rack-mounted transport case design
b. Miscellaneous new and used parts for SpectraTrak(TM) Model 572 Transportable GC/MS (1997-1998)
c. Miscellaneous new and used parts for SpectraTrak(TM) Model 772 Process GC/MS (1995-1998)
d. SpectraScan operating system software master duplication disks for SpectraTrak models 620, 672, 572, and 772 (requires HP Chemstation 2.x, Windows 3.1, and other software utility licenses for operation)
e. Operating, maintenance, specifications, and design documents and manuals for out-of-production and obsolete ST600, 620, 672, 572, 772 and other prototype products
f. Service inventory excludes components, parts, and instruments manufactured by Hewlett Packard
g. Current and on-going service contracts and warranty obligations

6. Marketing and Sales Assets
a. Customer list
b. Sales prospect list
c. Product literature and brochure copyrights
d. Unregistered software copyrights
e. Unregistered tradenames: "SpectraTrak", "SpectraScan", "Viking GC/MS",

"Viking Instruments"


Exhibit 2.4

AGREEMENT

This Agreement, dated as of December 6th, 1999, is concluded by and among Frank H. Laukien, with an address at 12 Smith Hill Road, Lincoln, MA 01773 (the "Seller"), and Bruker Daltonics, Inc., a Massachusetts Corporation with its principal place of business at 15 Fortune Drive, Manning Park, Billerica, MA 01821 (the "Buyer").

WHEREAS, the Seller owns fifty thousand (50,000) shares (the "Shares") of the Common Stock, $.01 par value per share, of ProteiGene, Inc., a Delaware corporation (the "Company"); and

WHEREAS, the Buyer desires to purchase from the Seller the Shares,

NOW THEREFORE, in consideration of mutual covenants, promises and agreements contained herein, as well as other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by each of the parties hereto, and intending to be legally bound hereby, the parties hereto agree as follows:

1.0 PURCHASE AND SALE OF SHARES

No later than December 6th, 1999 (the "Closing"), the Seller will sell to the Buyer the Shares for an aggregate purchase price of fifty thousand dollars ($50,000). At or before the Closing, the Buyer shall make payment of the aggregate purchase price to the Seller and the Seller shall deliver to each Buyer a certificate representing the Shares purchased by the Buyer. The parties shall also exchange such other documents and instruments as may be reasonably requested by any of them.

2.0 REPRESENTATIONS AND WARRANTIES OF THE SELLER

The Seller hereby represents and warrants to the Buyers as follows:

2.1 ORGANIZATION AND CORPORATE POWER. The Company and the Buyer are each duly organized, validly existing and in good standing under the laws of the jurisdictions of their organization and have all requisite power and authority to own their properties and to carry on their businesses as presently conducted. The Company and the Buyer are duly licensed or qualified to do business as a foreign entity in each jurisdiction wherein the character of their property, or the nature of the activities presently conducted by them, makes such qualification necessary.

2.2 AUTHORIZATION. The Seller has all necessary power and has taken, or will take before the Closing, all necessary action required for the due authorization, execution, delivery and performance by the Seller of this Agreement and any other agreements or instruments executed by the Seller in connection herewith or therewith (collectively the "Related Agreements"), the consummation of the transactions contemplated herein or therein, and for the due authorization, issuance and delivery of the Shares. This


Agreement and the Related Agreements will each be a valid and binding obligation of the Seller enforceable in accordance with its respective terms.

2.3 GOVERNMENT APPROVALS. No consent, approval, license or authorization of, or designation, declaration or filing with, any court or governmental authority is or will be required on the part of the Seller in connection with the execution, delivery and performance by the Seller of this Agreement and any of the Related Agreements.

2.4 COMPLIANCE WITH LAWS AND OTHER INSTRUMENTS. The Seller is in compliance with all of the provisions of this Agreement, and in all material respects with the provisions of each mortgage, indenture, lease, license, other agreement or instrument, judgment, decree, judicial order, statute, and regulation by which it is bound or to which any of its properties are subject. The execution, delivery or performance of this Agreement and the Related Agreements with or without the giving of notice or passage of time, or both, will not violate, or result in any breach of, or constitute a default under, or result in the imposition of any encumbrance upon any asset of the Seller or the Company pursuant to any provision of the charter or by-laws of the Seller or the Company, or any statute, rule or regulation, contract, lease, judgment, decree or other document or instrument by which the Seller or the Company is bound or to which any of their respective properties are subject.

2.5 DISCLOSURES. Neither this Agreement, the Related Agreements, nor any other agreement, document or written statement made by the Seller and furnished by the Seller to the Buyer in connection with the transactions contemplated hereby, contains any untrue statement of material fact or omits to state any material fact necessary to make the statements contained herein or therein not misleading.

2.6 SHARES. The Seller owns the entire right, title and interest in and to the Shares, free and clear of any liens and encumbrances of any nature whatsoever. The Shares are validly issued, fully paid and non-assessable.

3.0 REPRESENTATIONS AND WARRANTIES OF THE BUYERS

The Buyer hereby warrants to the Seller the following:

3.1 AUTHORIZATION. The Buyer has all requisite corporate power and authority and has taken all necessary corporate action required for the due authorization, execution, delivery and performance of this Agreement and the Related Agreements and the consummation of the transactions contemplated herein or therein. This Agreement and the Related Agreements to which the Buyer is a party constitute legal, valid and binding obligations of such Buyer, enforceable against such Buyer in accordance with their respective terms.

3.2 GOVERNMENT APPROVALS. No consent, approval, license or authorization of, or designation, declaration or filing with, any court or governmental authority is or


will be required on the part of the Buyer in connection with the execution, delivery and performance by the Buyer of this Agreement and the Related Agreements.

3.3 INVESTMENT REPRESENTATIONS. The Buyer is acquiring the Shares solely for its own account as an investment and not with a view to any distribution or resale thereof in violation of the Securities Act of 1933, as amended (the "Act"). The Buyer has been advised that the Shares have not been registered under the Act or under the provisions of any state securities or "blue sky" law. The Buyer, by accepting the Shares, agrees and acknowledges that it will not transfer such Shares unless such transfer is made (i) pursuant to an effective registration statement under the Act and in compliance with all applicable state securities or "blue sky" laws, or (ii) pursuant to an available exemption from registration under, or otherwise in compliance with the Act and all applicable state securities or "blue sky" laws. The Buyer has been further advised and understands that no public market now exists for any of the securities issued by the Company and that a public market may never exist for the Shares. The Buyer is an accredited investor for purpose of the Act.

4.0 CONDITIONS OF BUYER'S OBLIGATION

4.1 EFFECT OF CONDITIONS. The obligation of the Buyer to purchase and pay for the Shares at or before the Closing shall be subject to the satisfaction of each of the conditions stated in the following Sections of this Article.

4.2 REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Seller contained in this Agreement shall be true and correct on the date of the Closing, with the same effect as though made on and as of that date.

4.3 PERFORMANCE. The Seller shall have performed and complied with all of the agreements, covenants and conditions contained in this Agreement required to be performed at or prior to the Closing.

4.4 NO MATERIAL ADVERSE CHANGE. The business, properties, assets and condition (financial or otherwise) of the Seller and the Company shall not have been materially adversely affected since the date of this Agreement whether by fire, casualty, act of God or otherwise, and there shall have been no other changes in the business, properties, assets, condition (financial or otherwise), management or prospects of the Seller and the Company that would have a material adverse effect on their respective businesses or assets.

5.0 CONDITIONS OF SELLER'S OBLIGATION

5.1 EFFECT OF CONDITIONS. The obligation of the Seller to sell the Shares at the Closing shall be subject at its election to the satisfaction of each of the conditions stated in the following Section of this Article.


5.2 REPRESENTATIONS AND WARRANTIES; PERFORMANCE. The representations and warranties of the Buyer contained in this Agreement shall be true and correct on the date of such Closing with the same effect as though made on and as of that date.

6.0 TERMINATION

This Agreement may be terminated, and the transactions contemplated hereby abandoned, at any time prior to the Closing by the written agreement of the Seller and the Buyer.

7.0 MISCELLANEOUS

7.1 SURVIVAL OF REPRESENTATIONS. The representations, warranties, covenants and agreements made herein or in any certificates or documents executed in connection herewith shall survive for three (3) months after Closing.

7.2 AMENDMENTS AND WAIVERS. Amendments or additions to this Agreement may be made and compliance with any term, covenant, agreement, condition or provision set forth herein may be omitted or waived (either generally or in a particular instance and either retroactively or prospectively) upon the written consent of the Seller and the Buyer.

7.3 NOTICES. All notices, requests, consents, reports and demands shall be in writing and shall be hand delivered, sent by facsimile or other electronic medium, or mailed, postage prepaid, to the Seller or the Buyer at the address set forth below or to such other address as may be furnished in writing to the other parties hereto. All such notices and communications shall be deemed to have been duly given three (3) business days after being deposited in the mail, postage prepaid, if mailed, one (1) business day after being sent by overnight courier, delivery charges prepaid; when receipt acknowledged, if telecopied or sent by electronic medium; and upon delivery, if delivered by hand.

The Seller:              Frank H. Laukien, Ph.D.
                         12 Smith Hill Road
                         Lincoln, MA 01773
                         Fax: 781-259-1235

The Buyers:              Bruker Daltonics, Inc.
                         15 Fortune Drive
                         Billerica, MA 01821
                         Fax: 978-667-0985
                         Attn: President or Treasurer

7.4 EXPENSES. Each party hereto will pay its own expenses in connection with the transactions contemplated hereby.


7.5 COUNTERPARTS. This Agreement may be executed in multiple counterparts, each of which shall constitute an original but all of which shall constitute but one and the same instrument. One or more counterparts of this Agreement or any exhibit hereto may be delivered via telecopier, with the intention that they shall have the same effect as an original counterpart hereof.

7.6 EFFECT OF HEADINGS. The article and section headings herein are for convenience only and shall not affect the construction hereof.

7.7 GOVERNING LAW. This Agreement shall be governed by, and construed and enforced in accordance with, the internal laws of the Commonwealth of Massachusetts without giving effect to the conflicts of laws principles thereof.

IN WITNESS WHEREOF, the parties have executed hereto this Agreement as of the date first written above.

SELLER:

FRANK H. LAUKIEN

By: /s/  Frank H. Laukien
   ---------------------------
BUYER:

BRUKER DALTONICS, INC.

By: /s/  David E. Plunkett
   ---------------------------
   David E. Plunkett


Title:  TREASURER

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


Exhibit 2.5

AGREEMENT

This Agreement, dated as of March 1, 2000 by and between Sidney R. Kaufman of Natick, Massachusetts (the "Seller") and Bruker Daltonics Inc., a Delaware corporation with its principal place of business in Billerica, Massachusetts (the "Buyer").

WHEREAS, the Seller owns twenty-six thousand (26,000) shares (the "Shares") of the Common Stock, $.01 par value per share, of the Buyer; and

WHEREAS, the Buyer desires to purchase from the Seller the Shares;

NOW, THEREFORE, in consideration of mutual covenants, promises and agreements contained herein, as well as other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by each of the parties hereto, and intending to be legally bound hereby, the parties hereto agree as follows:

1.0 PURCHASE AND SALE OF SHARES

No later than March 1, 2000 (the "Closing"), the Seller will sell to the Buyer the Shares for an aggregate purchase price of Twenty-Six Thousand Dollars ($26,000). At or before the Closing, the Buyer shall make payment of the aggregate purchase price to the Seller and the Seller shall deliver to Buyer a certificate representing the Shares purchased by the Buyer. The parties shall also exchange such other documents and instruments as may be reasonably requested by any of them.

2.0 REPRESENTATIONS AND WARRANTIES OF THE SELLER

The Seller hereby represents and warrants to the Buyer as follows:

2.1 GOVERNMENT APPROVALS. No consent, approval, license or authorization of, or designation, declaration or filing with any court or governmental authority is or will be required on the part of the Seller in connection with the execution, delivery and performance by the Seller of this Agreement.

2.2 COMPLIANCE WITH LAWS AND OTHER INSTRUMENTS. The Seller is in compliance with all of the provisions of this Agreement, and in all material respects with the provisions of each mortgage, indenture, lease, license, other agreement or instrument, judgment, decree, judicial order, statute, and regulation by which he is bound or to which any of his properties are subject. The execution, delivery or performance of this Agreement with or without the giving of notice or passage of time, or both, will not violate, or result in any breach of or constitute a default under, or result in the imposition of any encumbrance upon any asset of the Seller pursuant to any statute, rule or regulation, contract, lease, judgment, decree or other document or instrument by which the Seller is bound or to which any of his properties are subject.

2.3 DISCLOSURES. Neither this Agreement nor any other agreement, document or written statement made by the Seller is furnished by the Seller to the Buyer in connection with the transactions contemplated hereby, contains any untrue statement of material fact


or omits to state any material fact necessary to make the statements contained herein or therein not misleading.

2.4 SHARES. The Seller owns the entire right, title and interest in and to the Shares, free and clear of any liens and encumbrances of any nature whatsoever. The Shares are validly issued, fully paid and non-assessable.

3.0 REPRESENTATIONS AND WARRANTIES OF THE BUYERS

The Buyer hereby warrants to the Seller the following:

3.1 AUTHORIZATION. The Buyer has all requisite corporate power and authority and has taken all necessary corporate action required for the due authorization, execution, delivery and performance of this Agreement and the consummation of the transactions contemplated herein. This Agreement constitutes the legal, valid and binding obligations of the Buyer enforceable against Buyer in accordance with its terms.

3.2 GOVERNMENTAL APPROVALS. No consent, approval, license or authorization of, or designation, declaration or filing with, any court or governmental authority is or will be required on the part of the Buyer in connection with the execution, delivery and performance by the Buyer of this Agreement.

4.0 MISCELLANEOUS

4.1 SURVIVAL OF REPRESENTATIONS. The representations, warranties, covenants and agreements made herein or in any certificates or documents executed in connection herewith shall survive for three (3) months after Closing.

4.2 AMENDMENTS AND WAIVERS. Amendments or additions to this Agreement may be made and compliance with any term, covenant, agreement, condition or provision set forth herein may be omitted or waived (either generally or in a particular instance and either retroactively or prospectively) upon the written consent of the Seller and the Buyer.

4.3 EXPENSES. Each party hereto will pay its own expenses in connection with the transactions contemplated hereby.

4.4 COUNTERPARTS. This Agreement may be executed in multiple counterparts, each of which shall constitute an original but all of which shall constitute but one and the same instrument. One or more counterparts of this Agreement or any exhibit hereto may be delivered via telecopier, with the intention that they shall have the same effect as an original counterpart hereof.

4.5. EFFECT OF HEADINGS. The article and section headings herein are for convenience only and shall not affect the construction hereof.

4.6 GOVERNING LAW. This Agreement shall be governed by, and construed and enforced in accordance with, the internal laws of the Commonwealth of Massachusetts without giving effect to the conflicts of laws principles thereof.

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

BRUKER DALTONICS INC.

By: /s/ DAVID E. PLUNKETT             /s/ SIDNEY R. KAUFMAN
   ----------------------------       --------------------------------
David E. Plunkett                        Sidney R. Kaufman
Treasurer

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Exhibit 3.1

CERTIFICATE OF INCORPORATION
OF
BRUKER DALTONICS INC.


FIRST: The name of this corporation shall be:

Bruker Daltonics Inc.

SECOND: Its registered office in the State of Delaware is to be located at 1209 Orange Street, in the City of Wilmington, County of New Castle, 19801, and its registered agent at such address is: THE CORPORATION TRUST COMPANY.

THIRD: The purpose or purposes of the corporation shall be:

To carry on any and all business and to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of Delaware.

FOURTH: The total number of shares of stock which the Corporation shall have authority to issue is 105,000,000 shares, which shares shall be divided into two classes consisting of: (i) 100,000,000 shares of Common Stock (with $.01 par value per share) ("Common Stock") and (ii) 5,000,000 shares of Preferred Stock (with $.01 par value per share) ("Blank Check Preferred Stock").

The designations and the powers, preferences and rights, and the qualifications, limitations or restrictions of the Common Stock and the Preferred Stock shall be as follows:

A. COMMON STOCK

1. VOTING RIGHTS. Except as otherwise required by law or this Certificate of Incorporation, each holder of Common Stock shall have one vote in respect of each share of Common Stock held by him of record on the books of the Corporation for the election of directors and on all matters submitted to a vote of stockholders of the Corporation.

2. DIVIDENDS. The holders of shares of Common Stock shall be entitled to receive, when and if declared by the Board of Directors, out of the assets of the Corporation which are by law available therefor, dividends payable either in cash, in property or in shares of capital stock, subject, however, to the limitations contained in Part B below.

3. DISSOLUTION, LIQUIDATION OR WINDING UP. After distribution in full of the preferential amount, if any, to be distributed to the holders of series of the Blank Check Preferred Stock (in accordance with the relative preferences among such series) in the event of involuntary liquidation, distribution, dissolution or winding-up, of the Corporation, the holders of the Common Stock shall be entitled to receive all of the remaining assets of the Corporation, tangible and intangible, or whatever kind available for distribution to stockholders, ratably in proportion to the number of shares of Common Stock held by them respectively.


B. BLANK CHECK PREFERRED STOCK

1. ISSUANCE. Shares of Blank Check Preferred Stock may be issued from time to time in one or more series as designated by the Board of Directors, each of said series to be distinctly designated. Shares of Blank Check Preferred Stock may be issued when deemed by the Board of Directors to be necessary to protect the Corporation from an actual, threatened or potential hostile or undesired takeover or takeover attempt. All shares of any one series of the Blank Check Preferred Stock shall be alike in every particular, except that there may be different dates from which dividends, if any, thereon shall be cumulative, if made cumulative. The voting powers, if any, and the designations, relative preferences, participating, optional or other special rights or privileges of each such series, and the qualifications, limitations or restrictions thereof, if any, may differ from those of any and all other series at any time outstanding.

2. AUTHORITY OF THE BOARD OF DIRECTORS. The Board of Directors is authorized, subject to limitations prescribed by law and the provisions of this Article FOURTH, to provide for the issuance of the shares of the Blank Check Preferred Stock in series, and by filing a certificate pursuant to the applicable law of the State of Delaware, to establish from time to time the number of shares to be included in each such series, and to fix in the resolution or resolutions providing for the issue of such stock adopted by the Board of Directors of the Corporation the voting powers, if any, and the designations, relative preferences, participating, optional or other special rights or privileges, and the qualifications, limitations or restrictions of such series, including, but without limiting the generality of the foregoing, the following:

(a) The distinctive designation of, and the number of shares of the Blank Check Preferred Stock which shall constitute such series. The designation of a series of preferred stock need not include the words "preferred" or "preference" and may be designated "special" or other distinctive term. Unless otherwise provided in the resolution issuing such series, the number of shares of any series of the Blank Check Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the Board of Directors in the manner prescribed by law;

(b) The rate and times at which, and the terms and conditions upon which, dividends, if any, on the Blank Check Preferred Stock of such series shall be paid, the extent of the preference or relation, if any, of such dividends to the dividends payable on any other class or classes, or series of the same or other classes of stock and whether such dividends shall be cumulative or non-cumulative and, if cumulative, the date from which such dividends shall be cumulative;

(c) Whether the series shall be convertible into, or exchangeable for, at the option of the holders of the Blank Check Preferred Stock of such series or the Corporation or upon the happening of a specified event, shares of any other class or classes or any other series of the same or any other class or classes of stock of the Corporation, and the terms and conditions of such conversion or exchange, including provisions for the adjustment of any such conversion rate in such events as the Board of Directors shall determine;

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(d) Whether or not the Blank Check Preferred Stock of such series shall be subject to redemption at the option of the Corporation or the holders of such series or upon the happening of a specified event, and the redemption price or prices and the time or times at which, and the terms and conditions upon which, the Blank Check Preferred Stock of such series may be redeemed;

(e) The rights, if any, of the holders of the Blank Check Preferred Stock of such series upon the voluntary or involuntary liquidation, merger, consolidation, distribution or sale of assets, dissolution or winding-up, of the Corporation;

(f) The terms of the sinking fund or redemption or purchase account, if any, to be provided for the Blank Check Preferred Stock of such series; and

(g) Subject to subparagraph 5 of Paragraph C hereof, whether such series of the Blank Check Preferred Stock shall have full, limited or no voting powers including, without limiting the generality of the foregoing, whether such series shall have the right, voting as a series by itself or together with other series of the Blank Check Preferred Stock or all series of the Blank Check Preferred Stock as a class, to elect one or more directors of the Corporation if there shall have been a default in the payment of dividends on any one or more series of the Blank Check Preferred Stock or under such other circumstances and on such conditions as the Board of Directors may determine.

C. OTHER PROVISIONS.

1. No holder of any of the shares of any class or series of stock or of options, warrants or other rights to purchase shares of any class or series of stock or of other securities of the Corporation shall have any preemptive right to purchase or subscribe for any unissued stock of any class or series or any additional shares of any class or series to be issued by reason of any increase of the authorized capital stock of the Corporation of any class or series, or bonds, certificates of indebtedness, debentures or other securities convertible into or exchangeable for stock of the Corporation of any class or series, or carrying any right to purchase stock of any class or series, but any such unissued stock, additional authorized issue of shares of any class or series of stock or securities convertible into or exchangeable for stock, or carrying any right to purchase stock, may be issued and disposed of pursuant to resolution of the Board of Directors to such persons, firms, corporations or associations (including such holders or others) and upon such terms as may be deemed advisable by the Board of Directors in the exercise of its sole discretion.

2. The relative powers, preferences and rights of each series of the Blank Check Preferred Stock in relation to the powers, preferences and rights of each other series of the Blank Check Preferred Stock shall, in each case, be as fixed from time to time by the Board of Directors in the resolution or resolutions adopted pursuant to authority granted in Paragraph B hereof. The consent, by class or series vote or otherwise, of the holders of such of the series of the Blank Check Preferred Stock as are from time to time outstanding shall not be required for the issuance by the Board of Directors of any other series of the Blank Check Preferred Stock whether or not the powers, preferences and rights of such other series shall be fixed by the Board

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of Directors as senior to, or on a parity with, the powers, preferences and rights of such outstanding series, or any of them; provided, however, that the Board of Directors may provide in the resolution or resolutions as to any series of the Blank Check Preferred Stock adopted pursuant to Paragraph B hereof, the conditions, if any, under which the consent of the holders of a majority (or such greater proportion as shall be fixed therein) of the outstanding shares of such series shall be required for the issuance of any or all other series of the Blank Check Preferred Stock.

3. Subject to the provisions of subparagraph 2 of this Paragraph C, shares of any series of the Blank Check Preferred Stock may be issued from time to time as the Board of Directors of the Corporation shall determine and on such terms and for such consideration as shall be fixed by the Board of Directors.

4. Shares of authorized Common Stock may be issued from time to time as the Board of Directors of the Corporation shall determine and on such terms and for such consideration as shall be fixed by the Board of Directors.

5. The number of authorized shares of Common Stock and of the Blank Check Preferred Stock, without a class or series vote, may be increased or decreased from time to time (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the stock of the Corporation entitled to vote thereon.

FIFTH: The name and mailing address of the sole incorporator is as follows:

  NAME                            MAILING ADDRESS
  ----                            ---------------
Nancy A. Valente                  c/o Hutchins, Wheeler & Dittmar
                                  A Professional Corporation
                                  101 Federal Street
                                  Boston, Massachusetts  02110

The names and mailing addresses of the persons who are to serve as the Directors until the first annual meeting of the stockholders or until successors are elected and qualified are as follows:

  NAME                            MAILING ADDRESS
  ----                            ---------------
Frank H. Laukien                  44 Manning Road
                                  Billerica, MA  01821

Richard M. Stein                  74 Kirkstall Road
                                  Newtonville, MA  02460

Timothy J. Hansberry              97 Adams Street
                                  Lexington, MA  02420

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Bernhard Wangler                  Kriegsstr. 133
                                  76135 Karlsruhe, Germany

Dr. Dieter Koch                   Fahrenheitstrasse 4, D-28359
                                  Bremen, Germany

Collin D'Silva                    2032 Concourse Drive
                                  San Jose, California  95131

William Linton                    2800 Woods Hollow Road
                                  Madison, Wisconsin  53711

The number of Directors shall be fixed from time to time exclusively by the Board of Directors pursuant to a resolution adopted by the Board of Directors. The Directors of the Corporation shall be divided into three classes:
Class I, Class II and Class III. Each class shall consist, as nearly as may be possible, of one-third of the whole number of the Board of Directors. If the Board of Directors is not evenly divisible by three, the Board of Directors shall determine the number of Directors to be elected to each class. The initial members of Class I shall hold office for a term to expire at the Annual Meeting of the Stockholders to be held in 2001; the initial members of Class II shall hold office for a term to expire at the Annual Meeting of the Stockholders to be held in 2002, the initial members of Class III shall hold office for a term to expire at the Annual Meeting of the Stockholders to be held in 2003, and in the case of each class, until their respective successors are duly elected and qualified. At each annual election held commencing with the annual election in 2001, the Directors elected to succeed those whose terms expire shall be identified as being of the same class as the Directors they succeed and shall be elected to hold office for a term to expire at the third Annual Meeting of the Stockholders after their election, and until their respective successors are duly elected and qualified. If the number of Directors changes, any increase or decrease in Directors shall be apportioned among the classes so as to maintain all classes as equal in number as possible, and any additional Director elected to any class shall hold office for a term which shall coincide with the terms of the other Directors in such class and until his successor is duly elected and qualified.

SIXTH: In furtherance and not in limitation of the powers conferred by the laws of the State of Delaware:

A. The Board of Directors of the corporation is expressly authorized to adopt, amend, or repeal the by-laws of the Corporation.

B. Elections of Directors need not be by written ballot unless the by-laws of the corporation shall so provide.

C. The books of the Corporation may be kept at such place within or without the State of Delaware as the by-laws of the Corporation may provide or as may be designated from time to time by the Board of Directors of the Corporation.

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SEVENTH: Whenever a compromise or arrangement is proposed between this corporation and its creditors or any class of them and/or between this corporation and its stockholders or any class of them, any court of equitable jurisdiction within the State of Delaware may, on the application in a summary way of this corporation or of any creditor or stockholder thereof or on the application of any receiver or receivers appointed for this corporation under the provisions of section 291 of Title 8 of the Delaware Code or on the application of trustees in dissolution or of any receiver or receivers appointed for this corporation under the provisions of section 279 of Title 8 of the Delaware Code, order a meeting of the creditors or class of creditors, and/or of the stockholders or class of stockholders of this corporation, as the case may be, to be summoned in such manner as the said court directs. If a majority in number representing three-fourths in value of the creditors or class of creditors, and/or of the stockholders or class of stockholders of this corporation, as the case may be, agree to any compromise or arrangement and to any reorganization of this corporation as a consequence of such compromise or arrangement, the said compromise or arrangement and the said reorganization shall, if sanctioned by the court to which the said application has been made, be binding on all the creditors or class of creditors, and/or on all the stockholders or class of stockholders, of this corporation, as the case may be, and also on this corporation.

EIGHTH: The Corporation hereby elects in this original certificate of incorporation not to be governed by Section 203 of the General Corporation Law of Delaware.

NINTH: Except as stated in Article Tenth of this certificate of incorporation, the corporation reserves the right to amend or repeal any provision contained in this certificate of incorporation, in the manner now or hereafter prescribed by statute, and all rights conferred upon a stockholder herein are granted subject to this reservation.

TENTH: No director shall be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director notwithstanding any provision of law imposing such liability; provided, however, that, to the extent required by applicable law, this provision shall not eliminate the liability of a director (i) for any breach of the director's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the General Corporation Law of Delaware, or
(iv) for any transaction from which the director derived an improper personal benefit. No amendment to or repeal of this provision shall apply to or have any effect on the liability or alleged liability of any director for or with respect to any acts or omissions of such director occurring prior to such amendment or repeal.

ELEVENTH: The Corporation is to have perpetual existence.

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IN WITNESS WHEREOF, the undersigned, being the incorporator hereinbefore named, has executed, signed, and acknowledged this certificate of incorporation this 4th day of February, 2000.

/s/  Nancy A. Valente
----------------------------
     Nancy A. Valente
     Sole Incorporator

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Exhibit 3.2

BY-LAWS

OF

BRUKER DALTONICS INC.

(A Delaware Corporation)


BY-LAWS

OF

BRUKER DALTONICS INC.

(A Delaware Corporation)

ARTICLE 1........................................................................4
   Section 1.1  Contents.........................................................4
   Section 1.2  Certificate in Effect............................................4

ARTICLE 2........................................................................4
   Section 2.1  Place............................................................4
   Section 2.2  Annual Meeting...................................................5
   Section 2.3  Notice of Stockholder Business...................................5
   Section 2.4  Special Meetings.................................................6
   Section 2.5  Notice of Meetings...............................................7
   Section 2.6  Affidavit of Notice..............................................7
   Section 2.7  Quorum...........................................................7
   Section 2.8  Voting Requirements..............................................8
   Section 2.9  Proxies and Voting...............................................8
   Section 2.10  Action Without Meeting..........................................8
   Section 2.11  Stockholder List................................................9
   Section 2.12  Record Date....................................................10

ARTICLE 3.......................................................................11
   Section 3.1  Number; Election and Term of Office.............................11
   Section 3.2  Duties..........................................................11
   Section 3.3  Compensation....................................................12
   Section 3.4  Reliance on Books...............................................12

ARTICLE 4.......................................................................12
   Section 4.1  Place...........................................................12
   Section 4.2  Annual Meeting..................................................12
   Section 4.3  Regular Meetings................................................13
   Section 4.4  Special Meetings................................................13
   Section 4.5  Quorum..........................................................13
   Section 4.6  Action Without Meeting..........................................13
   Section 4.7  Telephone Meetings..............................................14

ARTICLE 5.......................................................................15
   Section 5.1  Designation.....................................................15
   Section 5.2  Records of Meetings.............................................16

ARTICLE 6.......................................................................16
   Section 6.1  Method of Giving Notice.........................................16
   Section 6.2  Waiver..........................................................16

ARTICLE 7.......................................................................17
   Section 7.1  In General......................................................17

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   Section 7.2  Election of President, Secretary and Treasurer..................17
   Section 7.3  Election of Other Officers......................................17
   Section 7.4  Salaries........................................................17
   Section 7.5  Term of Office..................................................17
   Section 7.6  Duties of President and Chairman of the Board...................18
   Section 7.7  Duties of Vice President........................................18
   Section 7.8  Duties of Secretary.............................................19
   Section 7.9  Duties of Assistant Secretary...................................19
   Section 7.10  Duties of Treasurer............................................20
   Section 7.11  Duties of Assistant Treasurer..................................20

ARTICLE 8.......................................................................20
   Section 8.1  Directors.......................................................21
   Section 8.2  Officers........................................................22

ARTICLE 9.......................................................................22
   Section 9.1  Issuance of Stock...............................................22
   Section 9.2  Right to Certificate; Form......................................22
   Section 9.3  Facsimile Signature.............................................23
   Section 9.4  Lost Certificates...............................................23
   Section 9.5  Transfer of Stock...............................................24
   Section 9.6  Registered Stockholders.........................................24

ARTICLE 10......................................................................24
   Section 10.1  Third Party Actions............................................24
   Section 10.2  Derivative Actions.............................................25
   Section 10.3  Expenses.......................................................26
   Section 10.4  Authorization..................................................26
   Section 10.5  Advance Payment of Expenses....................................26
   Section 10.6  Non-Exclusiveness..............................................27
   Section 10.7  Insurance......................................................27
   Section 10.8  Constituent Corporations.......................................27
   Section 10.9  Additional Indemnification.....................................28

ARTICLE 11......................................................................28
ARTICLE 12......................................................................28
ARTICLE 13......................................................................29
ARTICLE 14......................................................................29
ARTICLE 15......................................................................29

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BRUKER DALTONICS INC.

BY-LAWS

ARTICLE 1

CERTIFICATE OF INCORPORATION

SECTION 1.1 CONTENTS. The name, location of principal office and purposes of the Corporation shall be as set forth in its Certificate of Incorporation. These By-laws, the powers of the Corporation and of its Directors and stockholders, and all matters concerning the conduct and regulation of the business of the Corporation shall be subject to such provisions in regard thereto, if any, as are set forth in said Certificate of Incorporation. The Certificate of Incorporation is hereby made a part of these By-laws.

SECTION 1.2 CERTIFICATE IN EFFECT. All references in these By-laws to the Certificate of Incorporation shall be construed to mean the Certificate of Incorporation of the Corporation as from time to time amended, including (unless the context shall otherwise require) all certificates and any agreement of consolidation or merger filed pursuant to the Delaware General Corporation Law, as amended.

ARTICLE 2

MEETINGS OF STOCKHOLDERS

SECTION 2.1 PLACE. All meetings of the stockholders may be held at such place either within or without the State of Delaware as shall be designated from time to time by the Board of Directors, the Chairman of the Board of Directors or the President and stated in the notice of the meeting or in any duly executed waiver of notice thereof.

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SECTION 2.2 ANNUAL MEETING. Annual meetings of stockholders, shall be held on the 2nd Tuesday of April in each year, if not a legal holiday, and if a legal holiday, then on the next secular day following, at 10:00 A.M., or at such other date and time as shall be designated from time to time by the Board of Directors, the Chairman of the Board of Directors or the President and stated in the notice of the meeting. If such annual meeting has not been held on the day herein provided therefor, a special meeting of the stockholders in lieu of the annual meeting may be held, and any business transacted or elections held at such special meeting shall have the same effect as if transacted or held at the annual meeting, and in such case all references in these By-laws, except in this
Section 2.2, to the annual meeting of the stockholders shall be deemed to refer to such special meeting.

SECTION 2.3 NOTICE OF STOCKHOLDER BUSINESS. To be properly brought before the meeting, business must be of a nature that is appropriate for consideration at an Annual Meeting and must be (i) specified in the notice of meeting (or any supplement thereto) given by or at the direction of the Board of Directors, or
(ii) otherwise properly brought before the meeting by or at the direction of the Board of Directors, or (iii) otherwise properly brought before the meeting by a stockholder. In addition to any other applicable requirements, for business to be properly brought before the Annual Meeting by a stockholder, the stockholder must have given timely notice thereof in writing to the Secretary of the Corporation. To be timely, each such notice must be given either by personal delivery or by United States mail, postage prepaid, to the Secretary of the Corporation not later than (1) with respect to a matter to be brought before an Annual Meeting of Stockholders or a Special Meeting in Lieu of an Annual Meeting, not later than the close of business on the 90th day nor earlier than the close of business on the 120th day

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prior to the date set forth in the By-laws for the Annual Meeting and (2) with respect to a matter to be brought before a Special Meeting of the Stockholders not in lieu of an Annual Meeting, the close of business on the tenth day following the date on which notice of such meeting is first given to stockholders. The notice shall set forth (i) information concerning the stockholder, including his or her name and address, (ii) a representation that the stockholder is entitled to vote at such meeting and intends to appear in person or by proxy at the meeting to present the matter specified in the notice, and (iii) such other information as would be required to be included in a proxy statement soliciting proxies for the presentation of such matter to the meeting.

Notwithstanding anything in these By-laws to the contrary, no business shall be transacted at the Annual Meeting except in accordance with the procedures set forth in this section; provided, however, that nothing in this section shall be deemed to preclude discussion by any stockholder of any business properly brought before the Annual Meeting in accordance with these By-laws.

SECTION 2.4 SPECIAL MEETINGS. Special meetings of the stockholders, for any purpose or purposes, unless otherwise prescribed by statute or by the Certificate of Incorporation, may be called by the President, the Chairman of the Board, or by the Board of Directors and shall be called by the President or Secretary at the request in writing of a majority of the Directors then in office. Such request shall state the purpose or purposes of the proposed meeting, which need not be the exclusive purposes for which the meeting is called. The stockholder shall not have the right, in their capacity as stockholders, to call a special meeting of the stockholders.

SECTION 2.5 NOTICE OF MEETINGS. A written notice of all meetings of stockholders stating the place, date and hour of the meeting and, in the case of a special meeting, the purpose or

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purposes for which the special meeting is called, shall be given to each stockholder entitled to vote at such meeting. Except as otherwise provided by law, such notice shall be given not less than ten nor more than sixty days before the date of the meeting. Business transacted at any special meeting of stockholders shall be limited to the purposes stated in the notice.

SECTION 2.6 AFFIDAVIT OF NOTICE. An affidavit of the Secretary or an Assistant Secretary or the transfer agent of the Corporation that notice of a stockholders meeting has been given shall, in the absence of fraud, be prima facie evidence of the facts stated therein.

SECTION 2.7 QUORUM. The holders of a majority of the stock issued and outstanding and entitled to vote thereat, present in person or represented by proxy, shall constitute a quorum at all meetings of the stockholders for the transaction of business except as otherwise provided by statute or by the Certificate of Incorporation. If, however, such quorum shall not be present or represented by proxy at any meeting of the stockholders, the stockholders entitled to vote thereat, present in person or represented by proxy, shall have power to adjourn the meeting from time to time, without notice other than announcement at the meeting, except as hereinafter provided, until a quorum shall be present or represented. At such adjourned meeting at which a quorum shall be present or represented any business may be transacted which might have been transacted at the original meeting. If the adjournment is for more than thirty days, or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting.

SECTION 2.8 VOTING REQUIREMENTS. When a quorum is present at any meeting, the vote of the holders of a majority of the stock having voting power present in person or represented by proxy shall decide any question brought before such meeting, unless the question is one upon

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which by express provision of any applicable statute or of the Certificate of Incorporation, a different vote is required in which case such express provision shall govern and control the decision of such question.

SECTION 2.9 PROXIES AND VOTING. Unless otherwise provided in the Certificate of Incorporation, each stockholder shall at every meeting of the stockholders be entitled to one vote in person or by proxy for each share of the capital stock having voting power held by such stockholder, but no proxy shall be voted on after three years from its date, unless the proxy provides for a longer period. Persons holding stock in a fiduciary capacity shall be entitled to vote the shares so held, and persons whose stock is pledged shall be entitled to vote the pledged shares, unless in the transfer by the pledgor on the books of the Corporation he shall have expressly empowered the Pledgee to vote said shares, in which case only the pledgee, or his proxy, may represent and vote such shares. Shares of the capital stock of the Corporation owned by the Corporation shall not be voted, directly or indirectly.

SECTION 2.10 ACTION WITHOUT MEETING. Unless otherwise provided in the Certificate of Incorporation, until the closing of an underwritten public offering of the Corporation's Common Stock (a "Public Offering") any action referred or permitted to be taken at any annual or special meeting of stockholders may be taken without a meeting, without prior notice and without vote, if a consent in writing, setting forth the action so taken, is signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote on such action were present and voted. Prompt notice of the taking of corporate action without a meeting by less than unanimous written consent shall be given to those stockholders who have not consented in writing.

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Effective upon the closing of a Public Offering, any action required or permitted to be taken at any annual or special meeting of stockholders may be taken without a meeting, without prior notice and without vote, only if all stockholders entitled to vote on the matter consent to the action in writing and written consents are filed with the records of the meetings of the stockholders. Such consents shall be treated for all purposes as a vote at a meeting.

SECTION 2.11 STOCKHOLDER LIST. The officer who has charge of the stock ledger of the Corporation shall prepare and make, at least ten days before every meeting of stockholders, a complete list of the stockholders entitled to vote at the meeting, arranged in alphabetical order, and showing the address of each stockholder and the number of shares registered in the name of each stockholder. Such list shall be open to the examination of any stockholder, for any purpose germane to the meeting, during ordinary business hours, for a period of at least ten days prior to the meeting either at a place within the city where the meeting is to be held, which place shall be specified in the notice of the meeting, or, if not so specified, at the place where the meeting is to be held. The list shall also be produced and kept at the time and place of the meeting during the whole time thereof, and may be inspected by any stockholder who is present. The original or duplicate stock ledger shall be the only evidence as to who are the stockholders entitled to examine such list, the stock ledger or the books of the Corporation, or to vote in person or by proxy at any meeting of stockholders.

SECTION 2.12 RECORD DATE. In order that the Corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any adjournment thereof, or to express consent to corporate action in writing without a meeting, or entitled to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights

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in respect of any change, conversion or exchange of stock or for the purpose of any other lawful action, the Board of Directors may fix, in advance, a record date, which shall not be more than sixty nor less than ten days before the date of such meeting, nor more than sixty days prior to any other action. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; provided, however, that the Board of Directors may fix a new record date for the adjourned meeting.

If no record date is fixed by the Board of Directors:

(a) The record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on the day next preceding the day on which notice is given, or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held.

(b) The record date for determining stockholders entitled to express consent to corporate action in writing without a meeting, when no prior action by the Board of Directors is necessary, shall be the day on which the first written consent is expressed.

(c) The record date for determining stockholders for any other purpose shall be at the close of business on the day on which the Board of Directors adopts the resolution relating thereto.

ARTICLE 3

DIRECTORS

SECTION 3.1 NUMBER; ELECTION AND TERM OF OFFICE. There shall be a Board of Directors of the Corporation consisting of not less than one member, the number of members to be determined by resolution of the Board of Directors, unless the Certificate of Incorporation fixes

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the number of Directors, in which case a change in the number of Directors shall be made only by amendment of the Certificate. The Board of Directors shall be divided into such classes for such terms as are provided for in the Certificate of Incorporation. Subject to any limitation which may be contained within the Certificate of Incorporation, the number of the Board of Directors may be increased at any time by vote of a majority of the Directors then in office. The Directors shall be elected at the annual meeting of the stockholders at which the term of office of the class to which they have been elected expires, except as provided in paragraph (c) of Section 8.1, and each Director elected shall hold office until his successor is elected and qualified or until his earlier resignation or removal. Directors need not be stockholders.

SECTION 3.2 DUTIES. The business of the Corporation shall be managed by or under the direction of its Board of Directors which may exercise all such powers of the Corporation and do all such lawful acts and things as are not by statute or by the Certificate of Incorporation or by these By-laws directed or required to be exercised or done by the stockholders.

SECTION 3.3 COMPENSATION. Unless otherwise restricted by the Certificate of Incorporation or these By-laws, the Board of Directors shall have the authority to fix the compensation of Directors. The Directors may be paid their expenses, if any, of attendance at each meeting of the Board of Directors and may be paid a fixed sum for attendance at each meeting of the Board of Directors or a stated salary as Directors. No such payment shall preclude any Director from serving the Corporation in any other capacity and receiving compensation therefor. Members of special or standing committees may be allowed like compensation for attending committee meetings.

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SECTION 3.4 RELIANCE ON BOOKS. A member of the Board of Directors or a member of any committee designated by the Board of Directors shall, in the performance of his duties, be fully protected in relying in good faith upon the books of account or reports made to the Corporation by any of its officers, or by an independent certified public accountant, or by an appraiser selected with reasonable care by the Board of Directors or by any committee, or in relying in good faith upon other records of the Corporation.

ARTICLE 4

MEETINGS OF THE BOARD OF DIRECTORS

SECTION 4.1 PLACE. The Board of Directors of the Corporation may hold meetings, both regular and special, either within or without the State of Delaware.

SECTION 4.2 ANNUAL MEETING. The first meeting of each newly elected Board of Directors shall be held immediately following the annual meeting of stockholders or any special meeting held in lieu thereof, and no notice of such meeting shall be necessary to the newly elected Directors in order legally to constitute the meeting.

SECTION 4.3 REGULAR MEETINGS. Regular meetings of the Board of Directors may be held without notice at such time and at such place as shall from time to time be determined by the Board.

SECTION 4.4 SPECIAL MEETINGS. Special meetings of the Board may be called by the President on two days' notice to each Director either personally or by mail or by email; special meetings shall be called by the President or Secretary in like manner and on like notice on the written request of two Directors unless the Board consists of only one Director, in which case

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special meetings shall be called by the President or Secretary in like manner and on like notice on the written request of the sole Director.

SECTION 4.5 QUORUM. At all meetings of the Board a majority of the Directors then in office shall constitute a quorum for the transaction of business and the act of a majority of the Directors present at any meeting at which there is a quorum shall be the act of the Board of Directors, except as may be otherwise specifically provided by statute or by the Certificate of Incorporation. If a quorum shall not be Present at any meeting of the Board of Directors, the Directors present thereat may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present.

SECTION 4.6 ACTION WITHOUT MEETING. Unless otherwise restricted by the Certificate of Incorporation or these By-laws, any action required or permitted to be taken at any meeting of the Board of Directors or of any committee thereof may be taken without a meeting, if all members of the Board or committee, as the case may be, consent thereto in writing, and the writing or writings are filed with the minutes of proceedings of the Board or committee.

SECTION 4.7 TELEPHONE MEETINGS. Unless otherwise restricted by the Certificate of Incorporation or these By-laws, members of the Board of Directors, or any committee designated by the Board of Directors, may participate in a meeting of the Board of Directors, or any committee, by means of conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other, and such participation in a meeting shall constitute presence in person at the meeting.

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ARTICLE 5

COMMITTEES OF DIRECTORS

SECTION 5.1 DESIGNATION.

(a) The Board of Directors may, by resolution passed by a majority of the whole Board, designate one or more committees, including, if the Board of Directors deems appropriate, an audit committee and a compensation committee, each committee to consist of one or more of the Directors of the Corporation. The Board may designate one or more Directors as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee.

(b) In the absence or disqualification of a member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not he or they constitute a quorum, may unanimously appoint another member of the Board of Directors to act at the meeting in the place of any such absent or disqualified member.

(c) Any such committee, to the extent provided in the resolution of the Board of Directors designating the committee, shall have and may exercise all the powers and authority of the Board of Directors in the management of the business and affairs of the corporation, and may authorize the seal of the Corporation to be affixed to all papers which may require it; but no such committee shall have the power or authority in reference to amending the Certificate of Incorporation, adopting an agreement of merger or consolidation, recommending to the stockholders the sale, lease or exchange of all or substantially all of the Corporation's property and assets, recommending to the stockholders a dissolution of the Corporation or a revocation of a dissolution, or amending the By-laws of the Corporation; and, unless the resolution or the

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Certificate of Incorporation expressly so provide, no such committee shall have the power or authority to declare a dividend or to authorize the issuance of stock. Such committee or committees shall have such name or names as may be determined from time to time by resolution adopted by the Board of Directors.

SECTION 5.2 RECORDS OF MEETINGS. Each committee shall keep regular minutes of its meetings and report the same to the Board of Directors when required.

ARTICLE 6
NOTICES

SECTION 6.1 METHOD OF GIVING NOTICE. Whenever, under any provision of the law or of the Certificate of Incorporation or of these By-laws, notice is required to be given to any Director or stockholder, such notice shall be given in writing by the Secretary or the person or persons calling the meeting by leaving such notice with such Director or stockholder at his residence or usual place of business or by mailing it addressed to such Director or stockholder, at his address as it appears on the records of the Corporation, with postage thereon prepaid, and such notice shall be deemed to be given at the time when the same shall be deposited in the United States mail. Notice to Directors may also be given by email.

SECTION 6.2 WAIVER. Whenever any notice is required to be given under any provision of law or of the Certificate of Incorporation or of these By-laws, a waiver thereof in writing, signed by the person or persons entitled to said notice, whether before or after the time stated therein, shall be deemed equivalent thereto. Attendance of a person at a meeting shall constitute a waiver of notice of such meeting, except when the person attends the meeting for the express purpose of

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objecting at the beginning of the meeting to the transaction of any business because the meeting is not lawfully called or convened.

ARTICLE 7

OFFICERS

SECTION 7.1 IN GENERAL. The officers of the Corporation shall be chosen by the Board of Directors and shall include a President, a Secretary and a Treasurer. The Board of Directors may also choose a Chairman of the Board, one or more Vice Presidents, Assistant Secretaries and Assistant Treasurers. Any number of offices may be held by the same person, unless the Certificate of Incorporation or these By-laws otherwise provide.

SECTION 7.2 ELECTION OF PRESIDENT, SECRETARY AND TREASURER. The Board of Directors at its first meeting after each annual meeting of stockholders shall choose a President, a Secretary and a Treasurer.

SECTION 7.3 ELECTION OF OTHER OFFICERS. The Board of Directors may appoint such other officers and agents as it shall deem appropriate who shall hold their offices for such terms and shall exercise such powers and perform such duties as shall be determined from time to time by the Board.

SECTION 7.4 SALARIES. The salaries of all officers and agents of the Corporation may be fixed by the Board of Directors.

SECTION 7.5 TERM OF OFFICE. The officers of the Corporation shall hold office until their successors are chosen and qualify or until their earlier resignation or removal. Any officer elected or appointed by the Board of Directors may be removed at any time in the manner specified in Section 8.2.

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SECTION 7.6 DUTIES OF PRESIDENT AND CHAIRMAN OF THE BOARD. The Chairman
of the Board shall be the Chief Executive Officer of the Corporation. The President shall report to the Chairman of the Board and the Chief Executive Officer and shall preside at all meetings of the stockholders and, if he is a Director, at all meetings of the Board of Directors. Subject to the control and direction of the Directors, the President shall have general and active management of the business of the Corporation and shall see that all orders and resolutions of the Board of Directors are carried into effect. The President shall execute bonds, mortgages and other contracts requiring a seal, under the seal of the Corporation, except where required or permitted by law to be otherwise signed and executed and except where the signing and execution thereof shall be expressly delegated by the Board of Directors to some other officer or agent of the Corporation. The Chairman of the Board, if any, shall make his counsel available to the other officers of the Corporation, shall be authorized to sign stock certificates on behalf of the Corporation, shall preside at all meetings of the Directors at which he is present, and, in the absence of the President at all meetings of the stockholders, and shall have such other duties and powers as may from time to time be conferred upon him by the Directors.

SECTION 7.7 DUTIES OF VICE PRESIDENT. In the absence of the President or in the event of his inability or refusal to act, the Vice President (or in the event there be more than one Vice President, the Vice Presidents in the order designated by the Directors, or in the absence of any designation, then in the order of their election) shall perform the duties of the President not otherwise conferred upon the Chairman of the Board, if any, and when so acting, shall have all the powers of and be subject to all the restrictions upon the President. The Vice Presidents shall

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perform such other duties and have such other powers as the Board of Directors may from time to time prescribe.

SECTION 7.8 DUTIES OF SECRETARY. The Secretary shall attend all meetings of the Board of Directors and all meetings of the stockholders and record all the proceedings of the meetings of the Corporation and of the Board of Directors in a book to be kept for that purpose and shall perform like duties for the standing committees when required. He shall give, or cause to be given, notice of all meetings of the stockholders and special meetings of the Board of Directors, except as otherwise provided in these By-laws, and shall perform such other duties as may be prescribed by the Board of Directors or President, under whose supervision he shall be. He shall have charge of the stock ledger (which may, however, be kept by any transfer agent or agents of the Corporation under his direction) and of the corporate seal of the Corporation.

SECTION 7.9 DUTIES OF ASSISTANT SECRETARY. The Assistant Secretary, or if there be more than one, the Assistant Secretaries in the order determined by the Board of Directors (or if there be no such determination, then in the order of their election) shall, in the absence of the Secretary or in the event of his inability or refusal to act, perform the duties and exercise the powers of the Secretary and shall perform such other duties and have such other powers as the Board of Directors may from time to time prescribe.

SECTION 7.10 DUTIES OF TREASURER. The Treasurer shall have the custody of the corporate funds and securities and shall keep full and accurate accounts of receipts and disbursements in books belonging to the Corporation and shall deposit all moneys and other valuable effects in the name and to the credit of the Corporation in such depositories as may be designated by the Board of Directors. The Treasurer shall disburse the funds of the Corporation as may be ordered by the

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Board of Directors, taking proper vouchers for such disbursements, and shall render to the President and the Board of Directors, at its regular meetings, or when the Board of Directors so requires, an account of all of his transactions as Treasurer and of the financial condition of the Corporation. If required by the Board of Directors, he shall give the Corporation a bond in such sum and with such surety or sureties as shall be satisfactory to the Board of Directors for the faithful performance of the duties of this office and for the restoration to the Corporation, in case of his death, resignation, retirement or removal from office, of all books, papers, vouchers, money and other property of whatever kind in his possession or under his control belonging to the Corporation.

SECTION 7.11 DUTIES OF ASSISTANT TREASURER. The Assistant Treasurer, or if there shall be more than one, the Assistant Treasurers in the order determined by the Board of Directors (or if there be no such determination, then in the order of their election), shall, in the absence of the Treasurer or in the event of his inability or refusal to act, perform the duties and exercise the powers of the Treasurer and shall perform such other duties and have such other powers as the Board of Directors may from time to time prescribe.

ARTICLE 8

RESIGNATIONS, REMOVALS AND VACANCIES

SECTION 8.1 DIRECTORS.

(a) RESIGNATIONS. Any Director may resign at any time by giving written notice to the Board of Directors or the President or the Secretary. Such resignation shall take effect at the time specified therein; and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.

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(b) REMOVALS. Subject to any provisions of the Certificate of Incorporation, any Director or the entire Board of Directors may be removed with or without cause, at any meeting called for the purpose, by vote of the holders of a majority of the shares entitled to vote for the election of Directors, or a majority vote of the Board of Directors. This Section 8.1(b) may not be altered, amended or repealed except by the holders of a majority of the shares of stock issued and outstanding and entitled to vote for the election of the Directors.

(c) VACANCIES. Vacancies occurring in the office of Director and newly created Directorships resulting from any increase in the authorized number of Directors shall be filled by a majority of the Directors then in office, though less than a quorum, unless previously filled by the stockholders entitled to vote for the election of Directors, and the Directors so chosen shall hold office subject to the By-laws until the next annual meeting of Stockholders at which the term of office of the class to which they have been elected expires and until their successors are duly elected and qualify or until their earlier resignation or removal. If there are no Directors in office, then an election of Directors may be held in the manner provided by statute.

SECTION 8.2 OFFICERS. Any officer may resign at any time by giving written notice to the Board of Directors or the President or the Secretary. Such resignation shall take effect at the time specified therein; and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective. The Board of Directors may, at any meeting called for the purpose, by vote of a majority of their entire number, remove from office any officer of the Corporation or any member of a committee, with or without cause. Any vacancy occurring in the office of President, Secretary or Treasurer shall be filled by the Board of Directors and the

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officers so chosen shall hold office subject to the By-laws for the unexpired term in respect of which the vacancy occurred and until their successors shall be elected and qualify or until their earlier resignation or removal.

ARTICLE 9

CERTIFICATE OF STOCK

SECTION 9.1 ISSUANCE OF STOCK. The Directors may, at any time and from time to time, if all of the shares of capital stock which the Corporation is authorized by its Certificate of Incorporation to issue have not been issued, subscribed for, or otherwise committed to be issued, issue or take subscriptions for additional shares of its capital stock up to the amount authorized in its Certificate of Incorporation. Such stock shall be issued and the consideration paid therefor in the manner prescribed by law.

SECTION 9.2 RIGHT TO CERTIFICATE; FORM. Every holder of stock in the Corporation shall be entitled to have a certificate, signed by, or in the name of the Corporation by, the Chairman of the Board, the President or a Vice President and the Treasurer or an Assistant Treasurer, or the Secretary or an Assistant Secretary of the Corporation, certifying the number of shares owned by him in the Corporation; provided that the Directors may provide by one or more resolutions that some or all of any or all classes or series of the Corporation's stock shall be uncertified shares. Certificates may be issued for partly paid shares and in such case upon the face or back of the certificates issued to represent any such partly paid shares, the total amount of the consideration to be paid therefor, and the amount paid thereon shall be specified.

SECTION 9.3 FACSIMILE SIGNATURE. Any of or all the signatures on the certificate may be facsimile. In case any officer, transfer agent or registrar who has signed or whose facsimile

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signature has been placed upon a certificate shall have ceased to be such officer, transfer agent or registrar before such certificate is issued, it may be issued by the Corporation with the same effect as if he were such officer, transfer agent or registrar at the date of issue.

SECTION 9.4 LOST CERTIFICATES. The Board of Directors may direct a new certificate or certificates to be issued in place of any certificate or certificates theretofore issued by the Corporation alleged to have been lost, stolen or destroyed, upon the making of an affidavit of that fact by the person claiming the certificate of stock to be lost, stolen or destroyed. When authorizing such issue of a new certificate or certificates, the Board of Directors may, in its discretion and as a condition precedent to the issuance thereof, require the owner of such lost, stolen or destroyed certificate or certificates, or his legal representative, to advertise the same in such manner as it shall require and/or to give the Corporation a bond in such sum as it may direct as indemnity against any claim that may be made against the Corporation with respect to the certificate alleged to have been lost, stolen or destroyed.

SECTION 9.5 TRANSFER OF STOCK. Upon surrender to the Corporation or the transfer agent of the Corporation of a certificate for shares duly endorsed or accompanied by proper evidence of succession, assignation or authority to transfer, it shall be the duty of the Corporation to issue a new certificate to the person entitled thereto, cancel the old certificate and record the transaction upon its books.

SECTION 9.6 REGISTERED STOCKHOLDERS. The Corporation shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive dividends, and to vote as such owner, and to hold liable for calls and assessments a person registered on its books as the owner of shares, and shall not be bound to recognize any equitable or other claim to

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or interest in such share or shares on the part of any other person, whether or not it shall have express or other notice thereof, except as otherwise provided by the laws of Delaware.

ARTICLE 10

INDEMNIFICATION

SECTION 10.1 THIRD PARTY ACTIONS. The Corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the Corporation) by reason of the fact that he is or was a Director, officer, employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorney's fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that his conduct was unlawful.

SECTION 10.2 DERIVATIVE ACTIONS. The Corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or

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suit by or in the right of the Corporation to procure a judgment in its favor by reason of the fact that he is or was a Director, officer, employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by him in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Corporation and except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the Corporation unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

SECTION 10.3 EXPENSES. To the extent that a Director, officer, employee or agent of the Corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in Sections 10.1 and 10.2, or in defense of any claim, issue or matter therein, he shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by him in connection therewith.

SECTION 10.4 AUTHORIZATION. Any indemnification under Sections 10.1 and
10.2 (unless ordered by a court) shall be made by the Corporation only as authorized in the specific case upon a determination that indemnification of the Director, officer, employee or agent is proper in the circumstances because he has met the applicable standard of conduct set forth in Sections 10.1

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and 10.2. Such determination shall be made (a) by the Board of Directors by a majority vote of a quorum consisting of Directors who were not parties to such action, suit or proceeding, or (b) if such a quorum is not obtainable, or, even if obtainable a quorum of disinterested Directors so directs, by independent legal counsel in a written opinion, or (c) by the stockholders.

SECTION 10.5 ADVANCE PAYMENT OF EXPENSES. Expenses incurred by an officer or Director in defending a civil or criminal action, suit or proceeding may be paid by the Corporation in advance of the final disposition of such action, suit or proceeding as authorized by the Board of Directors in the specific case upon receipt of an undertaking by or on behalf of such officer or Director to repay such amount unless it shall ultimately be determined that he is entitled to be indemnified by the Corporation as authorized in this Article 10. Such expenses incurred by other employees and agents may be so paid upon such terms and conditions, if any, as the Board of Directors deems appropriate.

SECTION 10.6 NON-EXCLUSIVENESS. The indemnification provided by this Article 10 shall not be deemed exclusive of any other rights to which those seeking indemnification may be entitled under any by-law, agreement, vote of stockholders or disinterested Directors or otherwise, both as to action in his official capacity and as to action in another capacity while holding such office, and shall continue as to a person who has ceased to be a Director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person.

SECTION 10.7 INSURANCE. The Corporation shall have power to purchase and maintain insurance on behalf of any person who is or was a Director, officer, employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer,

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employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against him and incurred by him in any such capacity, or arising out of his status as such, whether or not the Corporation would have the power to indemnify him against such liability under the provisions of this Article 10.

SECTION 10.8 CONSTITUENT CORPORATIONS. The Corporation shall have power to indemnify any person who is or was a director, officer, employee or agent of a constituent corporation absorbed in a consolidation or merger with this Corporation or is or was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, in the same manner as hereinabove provided for any person who is or was a Director, officer, employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise.

SECTION 10.9 ADDITIONAL INDEMNIFICATION. In addition to the foregoing provisions of this Article 10, the Corporation shall have the power, to the full extent provided by law, to indemnify any person for any act or omission of such person against all loss, cost, damage and expense (including attorney's fees) if such person is determined (in the manner prescribed in Section 10.4 hereof) to have acted in good faith and in a manner he reasonably believed to be in, or not opposed to, the best interest of the Corporation.

ARTICLE 11

EXECUTION OF PAPERS

Except as otherwise provided in these By-laws or as the Board of Directors may generally or in particular cases otherwise determine, all deeds, leases, transfers, contracts, bonds, notes,

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checks, drafts and other instruments authorized to be executed on behalf of the Corporation shall be executed by the President or the Treasurer.

ARTICLE 12

FISCAL YEAR

The fiscal year of the Corporation shall be fixed by resolution of the Board of Directors.

ARTICLE 13

SEAL

The Corporate seal shall have inscribed thereon the name of the Corporation, the year of its organization and the word "Delaware". The seal may be used by causing it or a facsimile thereof to be impressed or affixed or reproduced or otherwise.

ARTICLE 14

OFFICES

In addition to its principal office, the Corporation may have offices at such other places both within and without the State of Delaware as the Board of Directors may from time to time determine or the business of the Corporation may require.

ARTICLE 15

AMENDMENTS

Except as otherwise provided herein, these By-laws may be altered, amended or repealed or new By-laws may be adopted by the stockholders or by the Board of Directors, when such power is conferred upon the Board of Directors by the Certificate of Incorporation, at any regular meeting of the stockholders or of the Board of Directors, or at any special meeting of the stockholders or of the Board of Directors if notice of such alteration, amendment, repeal or adoption of new By-laws is contained in the notice of such special meeting, or by the written

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consent of a majority in interest of the outstanding voting stock of the Corporation or by the unanimous written consent of the Directors. If the power to adopt, amend or repeal by-laws is conferred upon the Board of Directors by the Certificate of Incorporation, it shall not divest or limit the power of the stockholders to adopt, amend or repeal by-laws.

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Exhibit 10.1

BRUKER DALTONICS INC.
2000 STOCK OPTION PLAN

1. PURPOSE OF THE PLAN.

This stock option plan (the "2000 Stock Option Plan") is intended to encourage ownership of the stock of Bruker Daltonics Inc. (the "Company") by management, employees, directors, consultants and advisors ("Optionees") of the Company and its subsidiaries, to induce qualified personnel to enter and remain in the employ of the Company or its subsidiaries and otherwise to provide additional incentive for Optionees to promote the success of its business.

2. STOCK SUBJECT TO THE 2000 STOCK OPTION PLAN.

(a) The total number of shares of the authorized but unissued or Treasury shares of the common stock, $.01 par value, of the Company ("Common Stock") for which options may be granted under the 2000 Stock Option Plan shall not exceed two million two hundred twenty thousand (2,220,000) shares, corresponding to four percent (4%) of the issued and outstanding shares of Common Stock after the completion of the Company's initial public offering, subject to adjustment as provided in Section 12 hereof.

(b) If an option granted hereunder shall expire or terminate for any reason without having vested fully or having been exercised in full, the unvested and/or unpurchased shares subject thereto shall again be available for subsequent option grants under the 2000 Stock Option Plan.

(c) Stock issuable upon exercise of an option granted under the 2000 Stock Option Plan may be subject to such restrictions on transfer, repurchase rights (but not to exceed 20% of the stock issuable upon exercise of options granted under the 2000 Stock Option Plan) or other restrictions as shall be determined by the Board of Directors of the Company (the "Board").

(d) Notwithstanding any other provision of this Plan to the contrary, the Committee shall have the right, in its sole discretion, to allocate and grant up to twenty percent (20%) of the Common Stock authorized to be granted as options hereunder as restricted stock to employees of


the Company on such terms and conditions and pursuant to such restricted stock agreements as the Committee, in its discretion, shall deem appropriate.

3. ADMINISTRATION OF THE 2000 STOCK OPTION PLAN.

At the discretion of the Board, the 2000 Stock Option Plan shall be administered either by (i) the Board, or (ii) the compensation committee (the "Compensation Committee") consisting of two or more members of the Board. In the event the Board is the administrator of the 2000 Stock Option Plan, references herein to the Compensation Committee shall be deemed to include the full Board. The Board may from time to time appoint a member or members of the Compensation Committee in substitution for or in addition to the member or members then in office and may fill vacancies on the Compensation Committee however caused. The Compensation Committee shall choose one of its members as Chairman and shall hold meetings at such times and places as it shall deem advisable. A majority of the members of the Compensation Committee shall constitute a quorum and any action may be taken by a majority of those present and voting at any meeting.

Any action may also be taken without the necessity of a meeting by a written instrument signed by a majority of the Compensation Committee. The decision of the Compensation Committee as to all questions of interpretation and application of the 2000 Stock Option Plan shall be final, binding and conclusive on all persons. The Compensation Committee shall have the authority to adopt, amend and rescind such rules and regulations as, in its opinion, may be advisable in the administration of the 2000 Stock Option Plan. The Compensation Committee may correct any defect or supply any omission or reconcile any inconsistency in the 2000 Stock Option Plan or in any option agreement granted hereunder in the manner and to the extent it shall deem expedient to carry the 2000 Stock Option Plan into effect and shall be the sole and final judge of such expediency. No Compensation Committee member shall be liable for any action or determination made in good faith.

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4. TYPE OF OPTIONS.

Options granted pursuant to the 2000 Stock Option Plan shall be authorized by action of the Compensation Committee and may be designated as either incentive stock options meeting the requirements of Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"), or non-qualified options which are not intended to meet the requirements of such Section 422 of the Code, the designation to be in the sole discretion of the Compensation Committee. The 2000 Stock Option Plan shall be administered by the Compensation Committee in such manner as to permit options granted as incentive stock options to qualify as incentive stock options under the Code.

5. ELIGIBILITY

(a) As required by U.S. law, incentive stock options shall only be granted to Optionees who are employees. As a result, options designated as incentive stock options shall, subject to the limitation on amounts of more than 10% of the combined voting power of the Company as designated in Section
5(e), be granted only to employees (including officers and directors who are also employees) of the Company or any of its subsidiaries, including subsidiaries which become such after adoption of the 2000 Stock Option Plan.

(b) The law permits more flexibility for the grant of non-qualified stock options. Accordingly, options designated as non-qualified options may be granted to officers, employees, consultants, advisors and directors of the Company or of any of its subsidiaries, including subsidiaries which become such after adoption of the 2000 Stock Option Plan.

(c) As used herein, "subsidiary" or "subsidiaries" shall be as defined in Section 424 of the Code and the Treasury Regulations promulgated thereunder (the "Regulations").

(d) The Compensation Committee shall, from time to time, at its sole discretion, select from such eligible persons those to whom options shall be granted and shall determine the number of shares to be subject to each option. In determining the eligibility of a person to be granted an option, as well as in determining the number of shares to be granted to

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any person, the Compensation Committee in its sole discretion shall take into account the position and responsibilities of the person being considered, the nature and value to the Company or its subsidiaries of his or her service and accomplishments, his or her present and potential contribution to the success of the Company or its subsidiaries, and such other factors as the Compensation Committee may deem relevant.

(e) As required by law, no option designated as an incentive stock option shall be granted to any employee of the Company or any subsidiary if such employee owns, immediately prior to the grant of an option, stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or of a parent or a subsidiary, unless the purchase price for the stock under such option shall be at least 110% of its fair market value at the time such option is granted and the option, by its terms, shall not be exercisable more than five years from the date it is granted. In determining the stock ownership under this paragraph, the provisions of Section 424(d) of the Code shall be controlling.

(f) In determining the fair market value under this paragraph, the provisions of Section 7 hereof shall apply.

6. OPTION AGREEMENT.

Each option shall be evidenced by an option agreement (the "Agreement") duly executed on behalf of the Company and by the Optionee to whom such option is granted, which Agreement shall comply with and be subject to the terms and conditions of the 2000 Stock Option Plan. The Agreement may contain such other terms, provisions and conditions which are not inconsistent with the 2000 Stock Option Plan as may be determined by the Compensation Committee; provided that (a) options designated as incentive stock options shall meet all of the conditions for incentive stock options as defined in Section 422 of the Code; (b) the vesting schedule contained in the form of incentive stock option agreement approved by the Board shall not be altered by the Compensation Committee for any grant of an incentive stock option; and (c) the vesting schedule contained in the form of non-qualified stock option agreement approved by the Board shall be the recommended vesting schedule for the grant of non-qualified stock options

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by the Compensation Committee but may be altered by the Compensation Committee. The date of grant of an option shall be as determined by the Compensation Committee. More than one option may be granted to an individual.

7. OPTION PRICE.

The option price or prices of shares of the Company's Common Stock for options designated as non-qualified stock options shall be as determined by the Compensation Committee, but in no event shall the option price of a non-qualified stock option be less than 50% of the fair market value of such Common Stock at the time the option is granted, as determined by the Compensation Committee. The option price or prices of shares of the Company's Common Stock for incentive stock options shall be not less than the fair market value of such Common Stock at the time the option is granted as determined by the Compensation Committee in accordance with the Regulations promulgated under
Section 422 of the Code. If such shares are then listed on any national securities exchange, the fair market value shall be the mean between the high and low sales prices, if any, on the largest such exchange on the date of the grant of the option or, if none, shall be determined by taking a weighted average of the means between the highest and lowest sales prices on the nearest date before and the nearest date after the date of grant in accordance with Treasury Regulations Section 25.2512-2. If the shares are not then listed on any such exchange, the fair market value of such shares shall be the mean between the high and low sales prices, if any, as reported in the National Association of Securities Dealers Automated Quotation National Market ("NASDAQ/NM") for the date of the grant of the option, or, if none, shall be determined by taking a weighted average of the means between the highest and lowest sales on the nearest date before and the nearest date after the date of grant in accordance with Treasury Regulations Section 25.2512-2. If the shares are not then either listed on any such exchange or quoted in NASDAQ/NM, the fair market value shall be the mean between the average of the "Bid" and the average of the "Ask" prices, if any, as reported in the National Daily Quotation Service for the date of the grant of the option, or, if none, shall be determined by taking a weighted average of the means between the highest and lowest sales

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prices on the nearest date before and the nearest date after the date of grant in accordance with Treasury Regulations Section 25.2512-2. If the fair market value cannot be determined under the preceding three sentences, it shall be determined in good faith by the Compensation Committee.

8. MANNER OF PAYMENT; MANNER OF EXERCISE.

(a) Options granted under the 2000 Stock Option Plan may provide for the payment of the exercise price, as determined by the Compensation Committee, and as set forth in the Option Agreement, by delivery of cash or a check payable to the order of the Company in an amount equal to the exercise price of such options.

(b) To the extent that the right to purchase shares under an option has accrued and is in effect, options may be exercised in full at one time or in part from time to time, by giving written notice, signed by the Optionee exercising the option, to the Company, stating the number of shares with respect to which the option is being exercised, accompanied by payment in full for such shares as provided in subparagraph (a) above. Upon such exercise, delivery of a certificate for paid-up non-assessable shares shall be made at the principal office of the Company to the Optionee exercising the option at such time, during ordinary business hours, not more than thirty (30) days from the date of receipt of the notice by the Company, as shall be designated in such notice, or at such time, place and manner as may be agreed upon by the Company and the person or persons exercising the option. Upon exercise of the option and payment as provided above, the Optionee shall become a shareholder of the Company as to the Shares acquired upon such exercise.

9. EXERCISE OF OPTIONS.

Each option granted under the 2000 Stock Option Plan shall, subject to
Section 6, Section 10(b) and Section 12 hereof, be exercisable at such time or times and during such period as determined by the Compensation Committee which shall be set forth in the Agreement; provided, however, that no option granted under the 2000 Stock Option Plan shall have a term in excess of ten (10) years from the date of grant.

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To the extent that an option to purchase shares is not exercised by an Optionee when it becomes initially exercisable, it shall not expire but shall be carried forward and shall be exercisable, on a cumulative basis, until the expiration of the exercise period. No partial exercise may be made for less than fifty (50) full shares of Common Stock.

Notwithstanding the foregoing, the Compensation Committee may in its discretion accelerate the exerciseability of any option subject to such terms and conditions as the Compensation Committee deems necessary and appropriate.

10. TERM OF OPTIONS; EXERCISEABILITY.
(a) TERM.

(1) Each option shall expire not more than ten (10) years from the date of the granting thereof, but shall be subject to earlier termination as herein provided.

(2) Except as otherwise provided in this Section 10, an option granted to any employee who ceases to be an employee of the Company, or an option granted to any other Optionee who ceases to have the same relationship with the Company or one of its subsidiaries which was in effect on the date the option was granted, shall terminate immediately on the date such Optionee ceases to be an employee, or ceases to have such relationship with the Company or one of its subsidiaries, or on the date on which the option expires by its terms, whichever occurs first.

(3) If such termination of employment or relationship is because the Optionee has become permanently disabled (within the meaning of
Section 22(e)(3) of the Code), such option shall terminate thirty (30) days after the date such Optionee ceases to be an employee or to have such relationship, or on the date on which the option expires by its terms, whichever occurs first.

(4) In the event of the death of any Optionee, any option granted to such Optionee shall terminate ninety (90) days after the date of death, or on the date on which the option expires by its terms, whichever occurs first.

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(5) Notwithstanding subparagraphs (2), (3) and (4) above, the Compensation Committee shall have the authority to extend the expiration date of any outstanding option in circumstances in which it deems such action to be appropriate, provided that no such extension shall extend the term of an option beyond the date on which the option would have expired if no termination of the Optionee's employment or relationship with the Company or its subsidiary had occurred.

(b) EXERCISEABILITY.

An option granted to an Optionee who ceases to be an employee, or ceases to have the same relationship with the Company or one of its subsidiaries which was in existence on the date the option was granted shall be exercisable only to the extent that the right to purchase shares under such option has accrued and is in effect on the date such Optionee ceases to be an employee, or ceases to have such relationship with the Company or one of its subsidiaries.

11. OPTIONS NOT TRANSFERABLE.

The right of any Optionee to exercise any option granted to him or her shall not be assignable or transferable by such Optionee otherwise than by will or the laws of descent and distribution, and any such option shall be exercisable during the lifetime of such Optionee only by him or her. Any option granted under the 2000 Stock Option Plan shall be null and void and without effect upon the bankruptcy of the Optionee to whom the option is granted, or upon any attempted assignment or transfer, except as herein provided, including without limitation any purported assignment, whether voluntary or by operation of law, pledge, hypothecation or other disposition, attachment, divorce, trustee process or similar process, whether legal or equitable, upon such option.

12. RECAPITALIZATIONS, REORGANIZATIONS AND THE LIKE.

(a) In the event that the outstanding shares of the Common Stock of the Company are changed into or exchanged for a different number or kind of shares or other securities of the Company or of another corporation by reason of any reorganization, merger, consolidation,

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recapitalization, reclassification, stock split-up, combination of shares, or dividends payable in capital stock, appropriate adjustment shall be made in the number and kind of shares as to which options may be granted under the 2000 Stock Option Plan and as to which outstanding options or portions thereof then unexercised shall be exercisable, to the end that the proportionate interest of the Optionee shall be maintained as before the occurrence of such event; such adjustment in outstanding options shall be made without change in the total price applicable to the unexercised portion of such options and with a corresponding adjustment in the option price per share.

(b) In addition, unless otherwise determined by the Board in its sole discretion, in the case of any (i) sale or conveyance to another entity of all or substantially all of the property and assets of the Company, including, without limitation, by way of merger or consolidation, or (ii) Change in Control (as hereinafter defined) of the Company, the purchaser(s) of the Company's assets or stock may, in his, her or its discretion, deliver to the Optionee the same kind of consideration that is delivered to the shareholders of the Company as a result of such sale, conveyance or Change in Control, or the Board may cancel all outstanding options in exchange for consideration in cash or in kind which consideration in both cases shall be equal in value to the value of those shares of stock or other securities the Optionee would have received had the option been exercised (to the extent then exercisable) and no disposition of the shares acquired upon such exercise been made prior to such sale, conveyance or Change in Control, less the option price therefor. Upon receipt of such consideration by the Optionee, his or her option shall immediately terminate and be of no further force and effect. The value of the stock or other securities the Optionee would have received if the option had been exercised shall be determined in good faith by the Board, and in the case of shares of the Common Stock of the Company, in accordance with the provisions of Section 7 hereof. The Board shall also have the power and right to accelerate the exerciseability of any options, notwithstanding any limitations in this 2000 Stock Option Plan or in the Agreement upon such a sale, conveyance or Change in Control. Upon such acceleration, any options or portion thereof originally designated as incentive stock options that no longer qualify as incentive stock options under Section 422 of the Code as a

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result of such acceleration shall be redesignated as non-qualified stock options. A "Change in Control" shall be deemed to have occurred if any person, or any two or more persons acting as a group, and all affiliates of such person or persons, who prior to such time owned less than twenty percent (20%) of the then outstanding Common Stock of the Company, shall acquire, whether by purchase, exchange, tender offer, merger, consolidation or otherwise, such additional shares of the Company's Common Stock in one or more transactions, or series of transactions, such that following such transaction or transactions, such person or group and affiliates beneficially own at least fifty percent (50%) of the Company's Common Stock outstanding.

(c) Upon dissolution or liquidation of the Company, all options granted under this 2000 Stock Option Plan shall terminate, but each Optionee (if at such time in the employ of or otherwise associated with the Company or any of its subsidiaries) shall have the right, immediately prior to such dissolution or liquidation, to exercise his or her option to the extent then exercisable.

(d) No fraction of a share shall be purchasable or deliverable upon the exercise of any option, but in the event any adjustment hereunder of the number of shares covered by the option shall cause such number to include a fraction of a share, such fraction shall be adjusted to the nearest smaller whole number of shares.

13. NO SPECIAL EMPLOYMENT OR OTHER RIGHTS.

Nothing contained in the 2000 Stock Option Plan or in any option granted under the Plan shall confer upon any Optionee right with respect to the continuation of his or her employment or other relationship by the Company (or any subsidiary) or interfere in any way with the right of the Company (or any subsidiary), subject to the terms of any separate employment or other agreement, at any time to terminate such employment or other relationship or to increase or decrease the compensation of the option holder from the rate in existence at the time of the grant of an option. Whether an authorized leave of absence, or absence in military or government service, shall constitute termination of employment or another relationship shall be determined by the Compensation Committee at the time.

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14. WITHHOLDING.

The Company's obligation to deliver shares upon the exercise of any option granted under the 2000 Stock Option Plan and any payments or transfers under Section 12 hereof shall be subject to the Optionee's satisfaction of all applicable Federal, state and local income, excise, employment and any other tax withholding requirements. All non-U.S. Optionees must pay all applicable employee and employers wage and other withholding taxes in advance of receiving shares upon exercise of any vested option.

15. RESTRICTIONS ON ISSUE OF SHARES.

(a) Notwithstanding the provisions of Section 8, the Company may delay the issuance of shares covered by the exercise of an option and the delivery of a certificate for such shares until one of the following conditions shall be satisfied:

(i) The shares with respect to which such option has been exercised are at the time of the issue of such shares effectively registered or qualified under applicable Federal and state securities acts now in force or as hereafter amended; or

(ii) Counsel for the Company shall have given an opinion, which opinion shall not be unreasonably conditioned or withheld, that such shares are exempt from registration and qualification under applicable Federal and state securities acts now in force or as hereafter amended.

(b) It is intended that all exercises of options shall be effective, and the Company shall use its best efforts to bring about compliance with the above conditions within a reasonable time, except that the Company shall be under no obligation to qualify shares or to cause a registration statement or a post-effective amendment to any registration statement to be prepared for the purpose of covering the issue of shares in respect of which any option may be exercised, except as otherwise agreed to by the Company in writing.

16. PURCHASE FOR INVESTMENT; RIGHTS OF HOLDER ON SUBSEQUENT REGISTRATION.

Unless the shares to be issued upon exercise of an option granted under the 2000 Stock Option Plan have been effectively registered under the Securities Act of 1933, as now in force or

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hereafter amended, the Company shall be under no obligation to issue any shares covered by any option unless the Optionee, in whole or in part, shall give a written representation and undertaking to the Company which is satisfactory in form and scope to counsel for the Company and upon which, in the opinion of such counsel, the Company may reasonably rely, that he or she is acquiring the shares issued pursuant to such exercise of the option for his or her own account as an investment and not with a view to, or for sale in connection with, the distribution of any such shares, and that he or she will make no transfer of the same except in compliance with any rules and regulations in force at the time of such transfer under the Securities Act of 1933, or any other applicable law, and that if shares are issued without such registration, a legend to this effect may be endorsed upon the securities so issued. In the event that the Company shall, nevertheless, deem it necessary or desirable to register under the Securities Act of 1933 or other applicable statutes any shares with respect to which an option shall have been exercised, or to qualify any such shares for exemption from the Securities Act of 1933 or other applicable statutes, then the Company may take such action and may require from each Optionee such information in writing for use in any registration statement, supplementary registration statement, prospectus, preliminary prospectus or offering circular as is reasonably necessary for such purpose and may require reasonable indemnity to the Company and its officers and directors and controlling persons from such holder against all losses, claims, damages and liabilities arising from such use of the information so furnished and caused by any untrue statement of any material fact therein or caused by the omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances under which they were made.

17. MODIFICATION OF OUTSTANDING OPTIONS.

The Board may authorize the amendment of any outstanding option with the consent of the Optionee when and subject to such conditions as are deemed to be in the best interests of the Company and in accordance with the purposes of this 2000 Stock Option Plan.

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18. APPROVAL OF STOCKHOLDERS.

The 2000 Stock Option Plan shall be subject to approval by the vote of stockholders holding at least a majority of the voting stock of the Company present, or represented, and entitled to vote at a duly held stockholders' meeting, or by written consent of the stockholders as provided for under applicable state law, within twelve (12) months after the adoption of the 2000 Stock Option Plan by the Board of Directors and shall take effect as of the date of adoption by the Board of Directors upon such approval. The Compensation Committee may grant options under the 2000 Stock Option Plan prior to such approval, but any such option shall become effective as of the date of grant only upon such approval and, accordingly, no such option may be exercisable prior to such approval.

19. TERMINATION AND AMENDMENT.

Unless sooner terminated as herein provided, the 2000 Stock Option Plan shall terminate ten (10) years from the date upon which the 2000 Stock Option Plan was duly adopted by the Board. The Board may at any time terminate the 2000 Stock Option Plan or make such modification or amendment thereof as it deems advisable; provided, however, that except as provided in this Section 20, the Board may not, without the approval of the stockholders of the Company obtained in the manner stated in Section 19, increase the maximum number of shares for which options may be granted or change the designation of the class of persons eligible to receive options under the 2000 Stock Option Plan, or make any other change in the 2000 Stock Option Plan which requires stockholder approval under applicable law or regulations.

20. RESERVATION OF STOCK.

The Company shall at all times during the term of the 2000 Stock Option Plan reserve and keep available such number of shares of stock as will be sufficient to satisfy the requirements of the 2000 Stock Option Plan and shall pay all fees and expenses necessarily incurred by the Company in connection therewith.

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21. LIMITATION OF RIGHTS IN THE OPTION SHARES.

An Optionee shall not be deemed for any purpose to be a stockholder of the Company with respect to any of the options except to the extent that the option shall have been exercised with respect thereto and, in addition, a certificate shall have been issued theretofore and delivered to the Optionee.

22. NOTICES.

Any communication or notice required or permitted to be given under the 2000 Stock Option Plan shall be in writing, and mailed by registered or certified mail or delivered by hand, if to the Company, to its principal place of business, attention: Treasurer, and, if to an Optionee, to the address as appearing on the records of the Company.

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Exhibit 10.2

SHARING AGREEMENT

This Agreement made and entered into as of the 28th day of February, 2000, (the "Date of the Agreement"), and as amended on April 7, 2000, by and among

o Bruker Physik AG ("BPAG-DE"), a German corporation,

o Techneon AG ("TAG-CH"), a Swiss corporation,

o Bruker Analytik GmbH ("BA-DE"), a German corporation,

o Bruker Elektronik GmbH ("BE-DE"), a German corporation,

o SBI Holding AG ("SBI-CH"), a Swiss corporation,

o Bruker Instruments, Inc. ("BII-US"), a Massachusetts corporation,

o Rhena Invest AG ("RIAG-CH"), a Swiss corporation,

o Bruker AG ("B-CH"), a Swiss corporation,

o Bruker-Spectrospin SA ("BS-FR"), a French corporation,

o Bruker SA("B-FR"), a French corporation,

o Bruker Daltonics Inc. ("BDAL-US"), a Delaware corporation,

o Bruker Optics, Inc. ("BOPT-US"), a Massachusetts corporation,

o Bruker AXS Inc. ("BAXS-US"), a Delaware corporation, and

o Bruker Medical AG ("BMED-CH"), a Swiss corporation.

WITNESSETH:

WHEREAS, the parties hereto presently are all affiliates of each other;

WHEREAS, each party hereto uses certain names, trademarks and other intellectual property owned by other of the parties hereto and may use certain services, facilities, products and related items of other of the parties hereto; and


WHEREAS, the parties hereto desire to confirm by a written agreement the arm's-length terms and conditions under which all such use has taken place and shall take place in the future;

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained herein, the parties hereto hereby agree as follows:

1.0 Definitions

1.1 "Affiliate" shall mean any person or entity which, directly or indirectly, controls a party hereto, or is controlled by a party hereto, it being understood that for such purposes "control" shall mean possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person or entity, whether through the ownership of voting securities or by contract or otherwise.

1.2 "Change of Control" shall mean, with respect to any party hereto, a change in the possession to a third party who is presently not an Affiliate, directly or indirectly, of the power to direct or cause the direction of the management of policies of such party, whether through a change in the ownership of voting securities or by contract or otherwise which occurs prior to completion of a public offering of at least $25,000,000 (twenty five million dollars) on a well-established public stock market (e.g. NASDAQ, Neuer Markt, or others). An initial public offering and transfer of control of a party to public ownership shall specifically not constitute a Change of Control.

1.3 "Intellectual Property" shall mean all patents, patent applications, inventions, trademarks, trademark applications, copyrights, copyright applications, trade secrets, common law rights and other intellectual property rights of any nature whatsoever in existence as of the Date of the Agreement, provided, however, that in the


case of any patents and patent applications of Bruker Daltonics, only those patents and patent applications listed on Attachment B shall be included in Intellectual Property.

1.4 "Lien" shall mean, with respect to any item, any mortgage, deed of trust, pledge, hypothecation, assignment, security interest, lien, charge, restriction, adverse claim by a third party, title defect or encumbrance of any kind.

1.5 The "Name" shall mean the name "Bruker", any logos associated therewith, and all Intellectual Property rights related thereto together with all goodwill associated therewith.

2.0 Name

2.1 The parties acknowledge that BA-DE owns the entire right, title and interest in and to the Name in Germany, as well as various international countries listed in Attachment A. The parties acknowledge that BPAG-DE owns the entire right, title and interest in and to the Name in the U.S., Israel and the rest of the world, except where the rights to the Name are specifically owned by BA-DE.

2.2 BA-DE and BPAG-DE hereby confirm that the other parties have properly used the Name prior to the date hereof.

2.3 BA-DE and BPAG-DE hereby grant the other parties hereto a perpetual, irrevocable, non-exclusive, royalty-free, non-transferable right and license to use the Name in connection with the conduct and operation of the business, as the same may be conducted from time to time, of each such party, subject to and in accordance with the following:

2.3.1 Each party shall use the Name in such a manner that it does not interfere with any other party's use of the Name. Moreover, all parties hereto have or will endeavour to adopt additional names in conjunction with the Name Bruker to


identify clearly the scope and purpose of each autonomous business (e.g. Bruker Optics, Bruker Daltonics(R), Bruker AXS, Bruker Medical, etc.)

2.3.2 No party shall at any time, directly or indirectly, take any material action which materially detracts from the goodwill associated with the Name.

2.3.3 Notwithstanding the irrevocable, perpetual nature of the license set forth in this Section 2.3, for ten (10) years after the signing of this Agreement, a Party's license under this Section 2.3 may become null and void at the option of BPAG-DE and BA-DE, which option must be exercised in writing within ninety (90) days of the occurrence if a party (a) files a voluntary petition for bankruptcy, (b) has an involuntary petition for bankruptcy filed against it which remains undismissed for at least sixty (60) consecutive days, (c) fails to comply with the provisions of this Section 2.3,
(d) suffers a major loss of its reputation in its industry or marketplace, such as by the distribution of defective, harmful, illegal, or dangerous goods or merchandise which materially detracts from the goodwill associated with the Name, or (e) undergoes a Change of Control. Provided, however, that each party hereto which may receive such written notice under this section, shall be given a ninety (90) day period after receipt of written notice to cure the problem or occurrence which led to the notice.

2.3.4 While the license set forth in this Section 2.3 is non-transferable, a party shall have the right to have its Affiliates use the Name subject to and in accordance with the following:

2.3.4.1 Use by an Affiliate shall be subject to all the conditions of this Section 2.3.


2.3.4.2 The party to this Agreement which permits its Affiliate to use the Name shall be fully responsible under this Agreement for the use of the Name by such Affiliate.

2.3.5 No party shall take any action which would cause a Lien to be placed on the Name or on a party's license rights under this Section 2.3.

2.4 In the event a party at any time believes a person or entity not a party to this Agreement is infringing the Name or in the event any party's use of the Name at any time leads to a claim that it is infringing the rights of a third party, the parties hereto will work together and cooperate in good faith with respect to the handling of such matter. The financial burden of enforcing the rights in the Name will be shared equitably between the parties hereto.

3.0 Technology

3.1 The parties acknowledge that each party hereto (a) owns various technology and the Intellectual Property relating thereto, and (b) has used and uses the technology and Intellectual Property of other parties hereto, provided, however, that use of the patents and patent applications included in such Intellectual Property by each party hereto (other than use pursuant to the separate written agreements referred to in Section 3.3 below) is limited to use of these patents and patent applications as it is in effect prior to the Date of the Agreement, and (c) that the Bruker Daltonics patents and patent applications described in Schedule B are used only by those parties specified as using such patents and patent applications in such Schedule B.

3.2 Each party confirms that the other parties hereto have properly used its technology and related Intellectual Property prior to the date hereof.


3.3 Each party acknowledges that certain specific written agreements are in place between certain parties hereto defining the use, royalties and terms and conditions of use of technology and related intellectual property between the specific parties to such separate previously existing written agreements. This Agreement shall not supersede or replace any existing written agreements pertaining to the subject matter hereof. For all technology and related intellectual property which is not governed by a specific separate written agreement between the parties or between any one or more parties and a third party, each party hereby grants each of the other parties hereto a perpetual, irrevocable, non-exclusive, royalty free, non-transferable right and license to use the technology and related Intellectual Property of the granting party in connection with the conduct and operation of the business, as the same may be conducted from time to time, of each such other party, unless such other party hereto undergoes a Change of Control, subject to and in accordance with the following:

3.3.1 In the event a party (the "First Party") desires to make a broader use of the technology or Intellectual Property of another party (the "Second Party") hereto than the use of such Intellectual Property by the First Party as of the Date of this Agreement, the two parties shall negotiate in good faith regarding the possibility of entering into a written agreement permitting the First Party to make such broader use, on arm's length terms and conditions such as would be utilized in a typical transaction with a person or entity not a party to this Agreement, provided, however, that neither the First Party nor the Second Party shall have any obligation to enter into any such agreement.

3.3.2 No party (the "First Party") shall at any time take any


action which would materially adversely affect the value of any technology or Intellectual Property of any other party hereto, which has been made available to the First Party hereunder.

3.3.3 Each party shall use the technology and Intellectual Property of the other parties in such a manner that it does not materially interfere with any other party's use thereof.

3.3.4 While the license set forth in this Section 3.3 is non-transferable, a party shall have the right to have its Affiliates use the technology or Intellectual Party of another party hereto subject to and in accordance with the following:

3.3.4.1 Use by an Affiliate shall be subject to all of the conditions of this Section 3.3.

3.3.4.2 The party to this Agreement which permits its Affiliate to use the technology or Intellectual Property of another party shall be fully responsible for the use thereof by such Affiliate.

3.3.5 No party shall take any action which shall cause a Lien to be placed on the technology or Intellectual Property of another party hereto or on such party's license rights under this Section 3.3.

3.4 In the event a party at any time believes a person or entity not a party to this Agreement is infringing the technology or Intellectual Property of any party to this Agreement or in the event any party's use of the technology or Intellectual Property of a party to this Agreement at any time leads to a claim that such using party is infringing the rights of a third party, the party which owns such technology or Intellectual Property will be responsible for the handling of such matter, provided that such owning


party shall receive reasonable cooperation in connection therewith from the other parties hereto which use such technology or Intellectual Property.

4.0 Distribution

4.1 The parties acknowledge that prior to the date hereof they have used, and may continue to use after the date hereof, selected common distribution channels for their respective products, including through the Affiliates of the parties hereto.

4.2 Such common distribution channels shall continue, and no party shall take any action which would interfere with the right of any other party hereto to use such distribution channels.

4.3 The terms and conditions of sale and the transfer pricing for such distribution will be on an arm's length basis as would be utilized in a typical transaction with a person or entity not a party to this Agreement.

4.4 No common sales channel shall have any exclusivity in any country or other geographic area and any party hereto shall have the right to establish its own subsidiary sales channel or third-party sales channels in any country or other geographic area at any time for any reason. However, in this case sixty (60) days written notice shall be given.

4.5 In addition to the ability to establish a new sales channel as described in Section 4.4 hereof, a party hereto shall have the right at any time to establish additional exclusive or non-exclusive sales channels in any country, geographic area or market segment with sixty (60) days written notice.

5.0 Shared Services


Any subleases of facilities, sharing of employees, shared services such as payroll services and any related matters may occur as two (2) or more of the parties hereto may agree from time to time as evidenced by a written agreement containing arm's length terms, conditions and pricing.

6.0 Components and Subunits

To the extent that prior to the date hereof a party has purchased subunits or components from another party hereto, such purchases may occur after the date hereof subject to and in accordance with the following:

6.1 Purchases may occur for seven (7) years after the date hereof, and spare parts purchases may occur for twelve (12) years after the date hereof.

6.2 The prices shall be the prices in effect as of the date hereof, provided that there may be a yearly price increase in an amount not to exceed the yearly increase in the Consumer Price Index, or corresponding index, of the country in which the manufacture occurs.

6.3 The terms and conditions shall be the previously established terms and conditions, provided that all such terms and conditions shall be reasonable arm's length terms and conditions. In any case, the prices shall be competitive, and from time to time may have to be adjusted by mutual agreement bases on cost and market conditions.

7.0 Miscellaneous Provisions

7.1 This Agreement shall be governed by and construed in accordance with either the laws of the Federal Republic of Germany or the laws of the Commonwealth of Massachusetts, USA. If a party (or parties) hereto has a complaint against another party (or parties) hereto, then the defendant shall have the choice of law and jurisdiction between Massachusetts and Germany.


7.2 All notices given hereunder shall be in writing and sent by certified mail, return receipt requested or by facsimile (receipt confirmed) to the principal place of business of each party hereto, provided that a party may change its address for notice in writing.

7.3 Subject to the prohibitions on transferability set forth herein, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. To the extent set forth herein, this Agreement shall bind the Affiliates of the parties hereto.

7.4. The headings of the provisions of this Agreement have been inserted for convenience of reference only and shall not be deemed to be part of this Agreement.

7.5 This Agreement may be executed in any number of counterparts and by the different parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all of which together shall constitute one and the same instrument, and it shall not be necessary in making proof of this Agreement to produce or account for more than one such counterpart. Facsimile signatures may be treated as original signatures.

7.6 In the event that any one or more of the provisions contained herein is held to be void or unenforceable for any reason, the validity or enforceability of the remainder of this Agreement shall continue in full force and effect, and such void or unenforceable provision shall be enforced to the maximum extent permissible.

7.7 This Agreement does not supersede any prior or contemporaneous written agreements in connection therewith. This Agreement may be amended or waived only by a written instrument executed by all parties hereto.


IN WITNESS WHEREOF, the parties hereto have executed this Agreement under seal in a series of counterpart originals as of the date first written above.

BRUKER PHYSIK AG                            BRUKER ANALYTIK GMBH

By:_______________________________          By:_______________________________
Title:____________________________          Title:____________________________

TECHNEON AG                                 BRUKER ELEKTRONIK GMBH

By:_______________________________          By:_______________________________
Title:____________________________          Title:____________________________

SBI Holding AG                              BRUKER INSTRUMENTS, INC.

By:_______________________________          By:_______________________________
Title:____________________________          Title:____________________________

RHENA INVEST AG                             BRUKER AG

By:_______________________________          By:_______________________________
Title:____________________________          Title:____________________________

BRUKER-SPECTROSPIN SA                       BRUKER SA

By:_______________________________          By:_______________________________
Title:____________________________          Title:____________________________

BRUKER DALTONICS INC.                       BRUKER OPTICS, INC.

By:_______________________________          By:_______________________________
Title:____________________________          Title:____________________________

BRUKER AXS INC.                             BRUKER MEDICAL AG

By:_______________________________          By:_______________________________
Title:____________________________          Title:____________________________


Attachment A

Country           Date of Filing    Present Owner             Number            Remarks
-------           --------------    -------------             ------            -------
Germany           10.21.71          Bruker Analytik GmbH      893509
Int'l Reg.        25.5.72           Bruker Analytik GmbH      388454            CH BE NL LU FR IT ES
                                                                                AT LI CS
Israel            31.5.72           Bruker Physik AG          35545
US                9.8.72            Bruker Physik AG          1133028           Includes Logo


Attachment B Ward and Olivo Status Report For Bruker Daltonics, Inc. As of 03/21/00

------------------------------------------------------------------------------------------------------------------------------
Application Title or     W&O Doc.      Application      Application   Assignee        Patent Number        Current Status
Project Description      No.           Serial Number    Filing Date                   Issue Date           of Application
                                                                                                           or Project
------------------------------------------------------------------------------------------------------------------------------
Extended Bradbury        140-011       08/548,012       10/5/95       Bruker          (see 140-023)        Re-filed as a
Nielson Gate                                                          Analytical                           continuation
                                                                      Instruments                          (see 140-023)
------------------------------------------------------------------------------------------------------------------------------
Multideflector           140-012       08/560,396       11/17/95      Bruker          5,696,375-12/9/97    Issued.
                                                                      Analytical                           Application for
                                                                      Instruments                          reissue pending
------------------------------------------------------------------------------------------------------------------------------
High Resolution Post     140-013       08/561,635       11/17/95      Bruker          5,753,909-5/19/98    Issued
Selector for Time of                                                  Analytical
Flight Mass                                                           Instruments
Spectrometry
------------------------------------------------------------------------------------------------------------------------------
Deflection Based         140-014       08/561,635       11/22/95      Bruker          5/,821,534-5/13/98   Issued
Daughter Ion Selector                                                 Analytical
                                                                      Instruments
------------------------------------------------------------------------------------------------------------------------------
Split Field Interface    140-015       08/561,634       11/22/95      Bruker          5,744,791-4/28/98    Issued
                                                                      Analytical
                                                                      Instruments
------------------------------------------------------------------------------------------------------------------------------
Metal Ion Directed       140-016       08/652,708       5/30/96       Bruker          N/A                  Pending.
Cleavage of Peptide                                                   Analytical                           Awaiting
Bonds                                                                 Instruments                          Instructions
                                                                                                           from the client
------------------------------------------------------------------------------------------------------------------------------
Nth Order Delayed        140-017       08/644,854       5/10/96       Bruker          5,861,623-1/19/99    Issued
Extraction                                                            Analytical
                                                                      Instruments
------------------------------------------------------------------------------------------------------------------------------
Gas Flow Focusing        140-018       N/A              N/A           Bruker          N/A                  Application
Based Ion Source                                                      Daltonics,                           draft provided
Application                                                           Inc.                                 to client, but
                                                                                                           no instructions
                                                                                                           to proceed - NO
                                                                                                           ACTION
------------------------------------------------------------------------------------------------------------------------------
Co-Axial Multiple        140-019A      08/866,134       5/30/97       Bruker          N/A                  Pending.
Reflection Time of                                                    Daltonics,                           Awaiting PTO
Flight Mass                                                           Inc.                                 response
Spectrometer
------------------------------------------------------------------------------------------------------------------------------
Shield Lens              140-021       08/926,541       9/10/97       Bruker          5,942,758-8/24/99    Issued
                                                                      Daltonics,
                                                                      Inc.
------------------------------------------------------------------------------------------------------------------------------
Extended Bradbury        140-023       08/911,639       8/15/97       Bruker          5,986,258-11/16/99   Issued
Nielson Gate                                                          Daltonics,
(Continuation of                                                      Inc.
140-011)
------------------------------------------------------------------------------------------------------------------------------
Kinetic Energy           140-026       09/032,510       2/27/98       Bruker          N/A                  Pending.
Focusing for Pulsed                                                   Daltonics,                           Awaiting PTO
Ion Desorption Mass                                                   Inc.                                 response
Spectroscopy
------------------------------------------------------------------------------------------------------------------------------


Ward and Olivo Status Report For Bruker Daltonics, Inc. As of 03/21/00

----------------------------------------------------------------------------------------------------------------------
Application Title or       W&O Doc.      Application    Application   Assignee       Patent        Current Status
Project Description        No.           Serial         Filing Date                  Number        of Application
                                         Number                                      Issue Date    or Project
----------------------------------------------------------------------------------------------------------------------
Increased MS/MS            140-028       N/A            N/A           Bruker         N/A           Invention
Sensitivity in Time of                                                Daltonics,                   Disclosure - NO
Flight Mass                                                           Inc.                         ACTION
Spectroscopy
----------------------------------------------------------------------------------------------------------------------
Surface Induced            140-029       09/087,535     5/29/98       Bruker         N/A           Pending.
Dissociation with                                                     Daltonics,                   Awaiting PTO
Pulsed Ion Extraction                                                 Inc.                         response.
----------------------------------------------------------------------------------------------------------------------
RF-DC Ion Guide            140-030       N/A            N/A           Bruker         N/A           Application
                                                                      Daltonics,                   Draft provided
                                                                      Inc.                         to client. To
                                                                                                   be finalized
                                                                                                   and filed ASAP
----------------------------------------------------------------------------------------------------------------------
Co-Axial Multiple          140-031       09/282,076     3/30/99       Bruker         N/A           Pending.
Reflection Time of                                                    Daltonics,                   Awaiting PTO
Flight Mass                                                           Inc.                         response.
Spectrometer (CIP of
140-019A)
----------------------------------------------------------------------------------------------------------------------
Multiple Ion Trap          140-032       N/A            N/A           Bruker         N/A           Application
Orthogonal Time of                                                    Daltonics,                   Draft provided
Flight Mass Spectrometer                                              Inc.                         to client. To
                                                                                                   be finalized
                                                                                                   and filed ASAP.
----------------------------------------------------------------------------------------------------------------------
"Multipart" Capillary      140-033       N/A            2/18/00       Bruker         N/A           Patent
for API Source                                                        Daltonics,                   Application
                                                                      Inc.                         filed. Awaiting
                                                                                                   PTO Response.
----------------------------------------------------------------------------------------------------------------------
Method and Apparatus       140-034       09/374,477     8/13/99       Bruker         N/A           Pending.
for Multiple Frequency                                                Daltonics,                   Missing parts
Multipole                                                             Inc.                         filed.
                                                                                                   Preliminary
                                                                                                   Amendment
                                                                                                   to be filed ASAP.
----------------------------------------------------------------------------------------------------------------------
Reissue Application re     140-035       09/324,098     6/1/99        Indiana        N/A           Pending.
Reilly et al. US Pat.                                                 Univ.                        Missing parts
No. 5,712,479                                                         Foundation                   filed 11/15/99.
----------------------------------------------------------------------------------------------------------------------
Ionization Chamber for     140-036       09/263,659     3/5/99        Bruker         N/A           Pending.
Atmospheric Pressure                                                  Daltonics,                   Missing parts
Ionization Mass                                                       Inc.                         filed.
Spectroscopy                                                                                       Preliminary
                                                                                                   Amendment to be
                                                                                                   filed ASAP.
----------------------------------------------------------------------------------------------------------------------
Shielded Lens              140-038       09/324,232     6/2/99        Bruker         N/A           Pending.
(Continuation of                                                      Daltonics,                   Missing parts
140-021)                                                              Inc.                         filed.
                                                                                                   Preliminary
                                                                                                   Amendment
                                                                                                   to be filed ASAP.
----------------------------------------------------------------------------------------------------------------------
Multiple Ion Trap for      140-039       N/A            N/A           N/A.           N/A           Invention
Othogonal TOFMS                                                                                    Disclosure - NO
                                                                                                   ACTION
----------------------------------------------------------------------------------------------------------------------
Extended Bradbury          140-041       09/344,598     6/25/99       Bruker         N/A           Pending.
Nielson Gate                                                          Daltonics,                   Missing parts
(Continuation of                                                      Inc.                         filed.
140-023)                                                                                           Preliminary
                                                                                                   Amendment to be
                                                                                                   filed ASAP.
----------------------------------------------------------------------------------------------------------------------


Ward and Olivo Status Report For Bruker Daltonics, Inc. As of 03/21/00

------------------------------------------------------------------------------------------------------------------------------
Application Title or        W&O Doc.        Application        Application    Assignee       Patent       Current Status
Project Description         No.             Serial Number      Filing Date                   Number       of Application
                                                                                             Issue Date   or Project
------------------------------------------------------------------------------------------------------------------------------
Ionization Source for       140-042         N/A                N/A            Bruker         N/A          Application
Mass Spectrometry                                                             Daltonics,                  Draft provided
                                                                              Inc.                        to client. To be
                                                                                                          finalized and
                                                                                                          filed ASAP.
------------------------------------------------------------------------------------------------------------------------------
Means and Method for a      140-043         N/A                N/A            Bruker         N/A          Application
Quill Sprayer for                                                             Daltonics,                  Draft provided
Electrospray                                                                  Inc.                        to client. To be
                                                                                                          finalized and
                                                                                                          filed ASAP.
------------------------------------------------------------------------------------------------------------------------------
Method and Apparatus for    140-044         N/A                N/A            Bruker         N/A          Draft being
a Multipole Ion Guide                                                         Daltonics,                  prepared.
for an Electrospray                                                           Inc.
Ionization Source
(HEXAPOLE)
------------------------------------------------------------------------------------------------------------------------------
Method and Apparatus for    140-045         N/A                N/A            Bruker         N/A          Patent
an Electrospray                                                               Daltonics,                  Application
Ionization Source                                                             Inc.                        Filed. Awaiting
(NANOSPRAY)                                                                                               PTO Response.
------------------------------------------------------------------------------------------------------------------------------
Zero Adjust System for      140-047         N/A                N/A            Bruker         N/A          Awaiting More
an E2 Microspray Device                                                       Daltonics,                  Detail From
                                                                              Inc.                        Inventors.
------------------------------------------------------------------------------------------------------------------------------
Method and Apparatus for    140-048         N/A                N/A            Bruker         N/A          Draft being
an Automated Ionization                                                       Daltonics,                  prepared.
System for Mass                                                               Inc.
Spectrometry (MULTIPART
CAPILLARY - ROBOT)
------------------------------------------------------------------------------------------------------------------------------
Mass Spectrometer           140-049         N/A                N/A            Bruker         N/A          Draft being
                                                                              Daltonics,                  prepared.
                                                                              Inc.
------------------------------------------------------------------------------------------------------------------------------
Method for the Automatic    140-050         N/A                N/A            Bruker         N/A          Application
Acquisition, Analysis                                                         Daltonics,                  Draft provided
and Electronic Delivery                                                       Inc.                        to client. To be
of High Resolution Exact                                                                                  finalized and
Mass ESI Mass Spectral                                                                                    filed ASAP.
------------------------------------------------------------------------------------------------------------------------------


Listing of licensed patents and patent applications as of 3/31/00.

No.    Assignee            Technology Covered             Remarks
-----------------------------------------------------------------
1      Indiana             Spatial-Velocity               USPNs:  5,504,326
       University          Correlation Focusing                   5,510,613
                           in Time-of-Flight                      5,712,479
                           Mass Spectrometry              Bruker Daltonics
                                                          holds the exclusive
                                                          right to practice
                                                          these patents.

2      Battelle            Capillary Electro-             USPN   4,842,701
       Memorial            phoresis - Electro-                    RE34,757
       Institute           spray Interface and                   5,423,964
                           Method                         one pending app.
                                                          Japan 2647941
                                                          Canada 1,340,133
                                                          Bruker Daltonics
                                                          has non-exclusive
                                                          rights to practice
                                                          these patents.

3      ISIS Pharma-        "Methods and Apparatus         Pending US patent
       ceuticals, Inc.     for External Accumulation      application. Bruker
                           and Photodissociation of       has exclusive rights
                           Ions Prior to Mass Spectro-    to practice any
                           metric Analysis"               patents issued.

4      Imperial Research   Method for multiplexed         WO 96/27681
       Technology, Ltd.    genotyping                     PCT /GB96/00476
                                                          Bruker Daltonics
                                                          has exclusive right
                                                          to practice this
                                                          patent in
                                                          conjunction with
                                                          mass spectrometry.

Patents acquired via Viking.

No.    Assignee            Technology Covered             Remarks
-----------------------------------------------------------------

1      Bruker Daltonics    Miniaturized Mass              USPN  5,313,061
                           Spectrometer System            Euro. PN 0476062
                                                          German PN
                                                          690283041.0
                                                          UKPN 2249662
                                                          Canadian PN
                                                          2,058,763
                                                          Japanese PN
                                                          Hei-2-509224


Granted Patents: Bruker Daltonik GmbH, Bremen as of 12. Apr. 00


(in Sequence of Priority)

P5047 Family: MM Owner: BFA Priority: 10.03.80 German Title: Eingangskopf eines Mess/Nachweissystems fur chemische Agenzien English Title: Input head of a measuring or identification system for chemical

agents
    Inventors:  Dr. B. Odernheimer  Johannes Kremer  K. Kranich
                DE 3 009 069                          21.10.82
                EP 0 047 286                          16.01.85
                US 4 433 982                          28.02.84

P5048 Family: MM Owner: BFA Priority: 23.09.81 German Title: Verfahren und Vorrichtung zur probenahme von Spurenkomponenten in Gasen, Flussigkeiten, an Festkorpern oder in Oberflachenschichten English Title: Method and device for the sampling of trace elements in gases, liquids, solids or in surface layers
Inventors: Dr. B. Odernheimer

                DE 3 137 765                          27.04.89
                EP 0 089 356                          27.08.86
                US 4 541 268                          17.09.85

P4643             Family: TOF           Owner: BAM        Priority:     10.07.85

German Title: Flugzeitmassenspektrometer mit einem Ionenreflektor English Title: Time-of-flight mass spectrometer using an ion reflector Inventors: Dr. Rudiger Frey Prof. E. W. Schlag

                EP 0 208 894                          23.10.91
                US ???

P5234             Family: CB            Owner: BFA        Priority:     23.12.87

German Title: Verfahren zur massenspektroskopischen Untersuchung eines Gasgemisches und Massenspektrometer zur Durchfuhrung dieses Verfahrens English Title: Method for mass-spectroscopic examination of a gas mixyture and mass spectrometer intended for carrying out this method

    Inventors:  Dr. Jochen Franzen  Dr. R.-H. Gabling  Gerhard Heinen
Gerhard WeiB
                US 5 028 777                          02.07.91

P5242 Family: TOF Owner: BFA Priority: 22.03.88 German Title: Verfahren zum Verdampfen einer Probensubstanz English Title: Method of vaporizing a sample substance Inventors: Prof. E. W. Schlag J. Lindner Prof. R. C. Beavis Prof. J. Grotemeyer

                DE 3 809 504                          21.09.89
                EP 0 333 912                          28.06.95
                US 5 062 935                          05.11.91


BDAL.DE                                                                Page    1


DAR08 Family: CB Owner: USA Priority: 13.04.88 German Title: Verfahren zur massenspektrometrischen Untersuchung eines Gasgemisches und Massenspektrometer zur Durchfuhrung dieses Verfahrens English Title: Method of mass analyzing a sample by use of a quistor and a quistor designed for performing this method

    Inventors:  Dr. Jochen Franzen  Dr. R.-H. Gabling  Gerhard Heinen
Gerhard WeiB
                US 4 882 484                          21.11.89

P5197 Family: CB Owner: BFA Priority: 13.04.88 German Title: Verfahren zur massenspektrometrischen Untersuchung eines Gasgemisches und Massenspektrometer zur Durchfuhrung dieses Verfahrens English Title: Method of mass analyzing a sample by use of a quistor and a quistor designed for performing this method

    Inventors:  Dr. Jochen Franzen  Dr. R.-H. Gabling  Gerhard Heinen
Gerhard WeiB
                EP 0 336 990                          13.04.88

P5464 Family: MM Owner: BFA Priority: 28.05.88 German Title: Verfahren zur nicht intrusiven kontinuierlichen und automatischen Analysenprobennahme, Abspeicherung und Bereitstellung der Proben und Daten fur eine eventuelle Auswertung English Title: Method for non-intrusive continuous and automatic taking of samples, storing and supplying of samples and data for a possible evaluation

    Inventors:  Dr. B. Odernheimer
                CA 1 335 866                          13.06.95
                DE 3 818 210                          23.11.89
                EP 0 407 469                          07.04.93
                Hei7-11475                            07.07.95
                PCT/DE89/00330
                SU 4 831 972
                US 5 216 925                          08.06.93

P5464A            Family: MM            Owner: BFA        Priority:     28.05.88

German Title:
English Title: Apparatus for non-intrusive continuous and automatic taking of samples, storing and supplying of samples and data for a possible evaluation Inventors: Dr. B. Odernheimer
US 5 205 178 27.04.93

P5368 Family: MM Owner: BFA Priority: 15.10.88 German Title: Vorrichtung zur Probenahme fur Uberwachungsfahrzeuge English Title: Sampling device for inspection vehicles Inventors: Dr. Dieter Koch Hans J. Baum

                DE 3 835 207                          03.08.89
                EP 0 364 687                          26.05.93
                US 4 982 616                          08.01.91


BDAL.DE                                                                Page    2


P5357 Family: LC Owner: BFA Priority: 03.11.88 German Title: Flussigkeits-Kolbenpumpe fur chromatographische Analysegerate English Title: Liquid plunger pump for chromatographic analyzer

    Inventors:  Dr. W. Risler

                DE 3 837 325                          03.09.90

P5511             Family: CB            Owner: BFA        Priority:     18.02.89

German Title:
English Title: Method and instrument for mass analyzing samples with a quistor Inventors: Dr. Jochen Franzen Dr. R.-H. Gabling Gerhard Heinen Gerhard WeiB

                DE689 13 290                          26.05.94
                EP 0 383 961                          23.02.94

P5467             Family: TOF           Owner: BFA        Priority:     23.06.89
  German Title: MS-MS-Flugzeitmassenspektrometer
  English Title: MS-MS time-of-flight mass spectrometer
    Inventors:  Priv.Doz. U. Boesl  Prof. E. W. Schlag  R. Weinkauf  K. Walter
                DE 3 920 566                          01.04.93
                EP 0 403 965                          15.09.94
                US 5 032 722                          16.07.91

DAR15 Family: CB Owner: USA Priority: 18.12.89 German Title:
English Title: Method and instrument for mass analyzing samples with a quistor Inventors: Dr. Jochen Franzen Dr. R.-H. Gabling Gerhard Heinen

Gerhard WeiB
                US 4 975 577                          04.12.90

P5505             Family: XQ            Owner: BFA        Priority:     08.01.90

German Title:
English Title: Generation of an exact three-dimensional quadrupole electric field
Inventors: Dr. Yang Wang

                CA 2 033 753                          21.11.95
                EP 0 509 986                          31.05.95
                US 5 283 436                          01.02.94

B2321             Family: XQ            Owner: BFA        Priority:     29.05.90

German Title: Masenspektrometrischer Hochfrequenz-Quadrupolkafig mit uberlagerten Multipolfeldern
English Title: Mass spectrometric high-frequency quadrupole cage with overlaid multipole fields
Inventors: Dr. Jochen Franzen

                DE 4 017 264                          22.06.92
                US 5 170 054                          08.12.92


BDAL.DE                                                                Page    3


B2326 Family: EM Owner: BFA Priority: 02.07.90 German Title: Verfahren und Vorrichtung zum Extrahieren geloster fluchtiger Substanzen aus Flussigkeiten in die Gasphase English Title: Method and apparatus for extracting dissolved, volatile substances from liquids into the vapor phase Inventors: Dr. Gokhan Baykut

                DE 4 021 239                          17.05.94
                US 5 258 057                          02.11.93

B2442             Family: TOF           Owner: BFA        Priority:     13.03.91

German Title: Verfahren und Vorrichtung zum Erzeugen von Ionen aus thermisch instabilen, nichtfluchtigen gro(beta)en Molekulen English Title: Method and Apparatus for generating ions from thermally unstable, non-volatile, large molecules, particularly for a mass spectrometer such as a time-of-flight mass spectrometer Inventors: Dr. Rudiger Frey Dr. Armin Holle Gerhard WeiB

                DE 4 108 462                          28.04.94
                EP 0 503 748                          11.12.96
                US 5 294 797                          28.04.94

B2524             Family: TOF           Owner: BFA        Priority:     05.09.91

German Title: Verfahren und Detektor zum Nachweis schwerer Molekulionen in einem Flugzeitmassenspektrometer
English Title: Method and detector for detecting heavy molecule ions in a time-of-flight mass
Inventors: Dr. Armin Holle
DE 4 129 791 17.06.93

B2534 Family: XQ Owner: BFA Priority: 27.11.91 German Title: Verfahren zum Isolieren von Ionen einer auswahlbaren Masse English Title: Method of clean removal of ions Inventors: Dr. Jochen Franzen

                DE 4 139 037                          13.03.95
                GB 2 261 988                          10.05.95
                US 5 331 157                          19.07.94

01/91             Family: XQ            Owner: BFA        Priority:     23.12.91

German Title: Verfahren und Vorrichtung fur phasenrichtige Anregung des Ionenauswurfs aus Ionenfallen-Massenspektrometern English Title: Method and device for in-phase excitation of ion ejection from ion trap mass spectrometers
Inventors: Dr. Jochen Franzen

                DE 41 42 871                          19.05.93
                GB 9 226 835                          03.05.95
                US 5 347 127                          13.09.94


BDAL.DE                                                                Page    4


02/91 Family: XQ Owner: BFA Priority: 23.12.91 German Title: Verfahren fur phasenrichtiges Messen der Ionen aus Ionenfallen-Massenspektrometern
English Title: Method and device for in-phase measuring of ions from ion trap mass spectrometers
Inventors: Dr. Jochen Franzen

                DE 41 42 870                          17.10.94
                GB 2 263 192                          10.05.95
                US 5 386 113                          31.01.95

03/91             Family: XQ            Owner: BFA        Priority:     23.12.91

German Title: Verfahren und Vorrichtung fur die Steuerung der Anregungsspannung fur den Ionenauswurf aus Ionenfallen-Massenspektrometern
English Title: Method and device for control of the excitation voltage for ion ejection from ion trap mass spectrometers Inventors: Dr. Jochen Franzen

                DE 41 42 869                          19.05.93
                GB 2 263 191                          30.08.95
                US 5 298 746                          29.03.94

01/92             Family: EM            Owner: BFA        Priority:     20.01.92

German Title: Einla(beta)ventil fur ein Hochvakuum-Analysengerat mit Bypass-Bepumpung
English Title: Inlet valve for a high vacuum analyzer with a bypass evacuation Inventors: Dr. Jochen Franzen Gerhard WeiB Alfred Kraffert

                GB 2 263 534                          17.05.95
                US 5 404 765                          11.04.95

03/92             Family: XQ            Owner: BFA        Priority:     27.01.92

German Title: Vorrichtung fur die massenspektrometrische Untersuchung schneller organischer Ionen
English Title: Method and device for the mass spectrometric examination of fast organic ions
Inventors: Dr. Jochen Franzen

                DE 42 02 123                          02.11.94
                US 5 373 156                          13.12.94

04/92             Family: EM            Owner: BFA        Priority:     27.02.92

German Title: Verfahren und Vorrichtung zur Aufbereitung fester Proben mit Hilfe pyrolytischer Verdampfung fur eine Analyse mittels eines Massenspektrometers oder eines Gaschromatographen

  English Title:
    Inventors:  Dr. Gokhan Baykut  Anatoly Schiller
                DE 42 06 109                          24.01.94


BDAL.DE                                                                Page    5


P5997 Family: MM Owner: BFA Priority: 13.11.92 German Title: Mobiles Massenspektrometer mit einer Probenahmevorrichtung mit drehbarem Spurrad mit Metallfelge
English Title: Sampling device comprising a revolvable sampling wheel with a

metal wheel rim
    Inventors:  Dr. Dieter Koch  G. Menne  Alfred Kraffert  R. Spudich
Gerhard WeiB
                DE 4 238 399                          27.08.93
                FR 9 312 064                          22.12.95
                GB 2 272 518                          10.07.96
                US 5 437 203                          01.08.95

10/93             Family: TOF           Owner: BFA        Priority:     26.02.93

German Title: Verfahren und Vorrichtung zur quantitativen Analyse von Gasgemischen mittels resonanter Laser-Massenspektrometrie bei stark fluktuierenden Me(beta)signalen
English Title:
Inventors: Christian Weikhardt Priv.Doz. U. Boesl Prof. E. W. Schlag

DE 43 05 981

01/93 Family: XQ Owner: BFA Priority: 19.05.93 German Title: Verfahren zur digitalen Erzeugung einer zusatzlichen Wechselspannung fur die resonante Anregung von Ionen in Ionenfallen English Title: Method and device for the digital generation of an additional alternating voltage for the resonant excitation of ions in an ion trap Inventors: Dr. Jochen Franzen Gerhard Heinen Dr. R.-H. Gabling

                DE 43 16 737                          01.09.94
                GB 2 278 233                          23.04.97
                US 5 438 195                          01.08.95

02/93             Family: XQ            Owner: BFA        Priority:     19.05.93

German Title: Auswurf von Ionen aus Ionenfallen durch kombinierte elektrische Dipol- und Quadrupolfelder
English Title: Ejection of ions from ion traps by combined electrical dipole and quadrupole fields
Inventors: Dr. Jochen Franzen

                DE 43 16 738                          17.10.96
                GB 2 278 232                          28.05.97
                US 5 468 957                          21.11.95

03/93             Family: TOF           Owner: BFA        Priority:     20.05.93

German Title: Nachweis schwerer Ionen in einem Flugzeitmassenspektrometer English Title: Detection of very large molecular ions in a time-of-flight mass spectrometer
Inventors: Dr. Armin Holle

                DE 43 16 805                          06.03.97
                GB 2 278 494                          25.09.96
                US 5 463 218                          31.10.95


BDAL.DE                                                                Page    6


04/93 Family: XQ Owner: BFA Priority: 20.07.93 German Title: Quadrupol-Ionenfallen mit schaltbaren Multipolanteilen English Title: Quadrupole ion trap with switchable multipole fractions Inventors: Dr. Jochen Franzen Dr. Yang Wang

                DE 43 24 224                          06.10.94
                GB 2 280 305                          02.04.97
                US 5 468 958                          21.11.95

05/93             Family: XQ            Owner: BFA        Priority:     20.07.93

German Title: Verfahren zur Auswahl der Reaktionspfade in Ionenfallen English Title: Method of selecting reaction paths in ion traps Inventors: Dr. Jochen Franzen Dr. R.-H. Gabling

                DE 43 24 233                          31.08.94
                GB 2 280 304                          06.08.97
                US 5 521 379                          28.05.96

06/93             Family: XQ            Owner: BFA        Priority:     07.08.93

German Title: Verfahren fur eine Regelung der Raumladung in Ionenfallen English Title: Method of automatically controlling the space charge in ion traps
Inventors: Dr. Jochen Franzen

                DE 43 26 549                          08.04.94
                GB 2 280 781                          05.03.97
                US 5 559 325                          24.09.96

02/94             Family: XQ            Owner: BFA        Priority:     10.03.94

German Title: Verfahren zur Ionisierung von gelosten Atomen oder Molekulen aus Flussigkeiten durch elektrisches Verspruhen English Title: Method of ionizing atoms or molecules by electrospraying Inventors: Dr. Matthias Mann Matthias Wilm US 5 504 329 02.04.96

03/94 Family: TOF Owner: BFA Priority: 10.03.94 German Title: Verfahren zur massenspektrometrischen Analyse von Proben aus 2-D-Gel-Elektrophoreseplatten mit matrixunterstutzter, ionisierender Laserdesorption
English Title: Method for mass spectrometric analysis of samples from electrophoresis plates
Inventors: Dr. Jochen Franzen

                DE 44 08 034                          01.03.95
                GB 2 280 304                          06.08.97
                US 5 595 636                          21.01.97

04/94             Family: CB            Owner: BFA        Priority:     29.04.94

German Title: Virtueller Impaktor mit schlitzformigen Dusen English Title: Virtual impactor
Inventors: Dr. Ulrich Geise

                DE 44 15 014                          29.07.96
                GB 2 280 305                          02.04.97
                US 5 533 406                          09.07.96


BDAL.DE                                                                Page    7


06/94 Family: XQ Owner: BFA Priority: 03.05.94 German Title: Vorrichtung und Verfahren zur massenspektrometrischen Untersuchung von Substanzgemischen durch Kopplung kapillarelektrophoretischer Separation (CE) mit Elektrospray-Ionisation (ESI) English Title: Device and method for mass spectrometric analysis of substance mixtures by coupling capillary electrophoretic separation (CE) with electrospray

ionization (ESI)
    Inventors:  Dr. Jochen Franzen  Dr. Frank Laukien
                DE 44 15 480                          02.09.99
                GB 2 289 161                          08.04.98
                US 5 505 832                          09.04.96

07/94 Family: XQ Owner: BFA Priority: 19.07.94 German Title: Verfahren zur Sto(beta)induzierten Fragmentierung von Ionen in Ionenfallen
English Title: Collisionally induced decomposition of ions in nonlinear ion traps
Inventors: Dr. Jochen Franzen

                DE 44 25 384                          16.06.95
                GB 2 291 534                          18.02.98
                US 5 528 031                          18.06.96

08/94             Family: XQ            Owner: BFA        Priority:     25.11.94

German Title: Verfahren und Vorrichtung zur Elektrospruh-Ionisierung fur speichernde Massenspektrometer
English Title: Electrospraying Method for mass spectrometric analysis Inventors: Dr. Jochen Franzen Dr. Matthias Mann Matthias Wilm

                DE 44 44 229                          25.07.96
                GB 2 288 061                          15.10.97
                US 5,608,217

P6403             Family: TOF           Owner: BFA        Priority:     29.11.94

German Title: Verfahren und Vorrichtung zur verbesserten Massenauflosung eines Flugzeitmassenspektrometers mit Ionenreflektor English Title: Device and method for the improved mass resolution of time-of-flight mass spectrometer with ion reflector

    Inventors:  Dr. Frank Laukien  Prof. J. Grotemeyer  Dr. Claus Koster
Johann Grundwurmer
                DE 44 42 348
                GB 9 524 247                          29.07.98
                US 5,739,529                          14.04.98

11/95 Family: XQ Owner: BFA Priority: 21.01.95 German Title: Verfahren zur Anregung der Schwingungen von Ionen in Ionenfallen mit Frequenzgemischen
English Title: Method for exciting the oscillations of ions in ion traps with

frequency mixtures
    Inventors:  Dr. Jochen Franzen  Dr. Michael Schubert
                DE 195 01 835                         08.01.98
                GB 2 297 192                          28.10.98
                US 5 654 542


BDAL.DE                                                                Page    8


12/95 Family: XQ Owner: BFA Priority: 21.01.95 German Title: Verfahren zur Regelung der Erzeugungsrate fur massenselektives Einspeichern von Ionen in Ionenfallen
English Title: Method for controlling the ion generation rate for mass selective loading of ions in ion traps

Inventors:  Dr. Jochen Franzen  Dr. Michael Schubert
            GB 2 297 191                          04.11.98
            US 5,710,427                          20.01.98

13/95 Family: CB Owner: BFA Priority: 09.02.95 German Title: Virtuelle Impaktoren mit schlitzformigen Dusen ohne Schlitzende English Title: Virtual impactors with slit shaped nozzles without slit ends

    Inventors:  Dr. Ulrich Geise

                DE 195 04 275                         10.02.00
                GB 2 297 706                          28.07.99
                US 5,858,043                          12.01.99

16/95             Family: XQ            Owner: BFA        Priority:     28.03.95
  German Title:
  English Title: Method for ionization of heavy molecules at atmospheric
pressure
    Inventors:  Dr. Jochen Franzen  Dr. Claus Koster
                GB 2 299 445                          09.12.98
                US 5 663 561                          02.09.97

17/95 Family: TOF Owner: BFA Priority: 28.03.95 German Title: Verfahren und Vorrichtung fur orthogonalen Einschu(beta)von Ionen in ein Flugzeit-Massenspektrometer English Title: Method and device for orthogonal ion injection into a time-of-flight mass spectrometer
Inventors: Dr. Jochen Franzen

                DE 195 11 333                         26.03.96
                GB 2 299 446                          25.11.98
                US 5,763,878                          09.06.98

18/95             Family: IMS           Owner: BSA        Priority:     26.04.95

German Title: Verfahren zur Messung von Ionenmobilitatsspektren English Title: Method of measuring ion mobility spectra Inventors: Dr. Jochen Franzen

                GB 2 300 296                          09.06.99
                US 5 719 392                          17.02.98

19/95             Family: XQ            Owner: BFA        Priority:     26.04.95

German Title: Vorrichtung fur den gasgefuhrten Transport von Ionen durch Kapillarrohr
English Title: Method and device for transport of ions in gas through a capillary
Inventors: Dr. Jochen Franzen

                DE 195 15 271                         02.09.99
                GB 2 300 295                          14.10.98
                US 5,736,740                          07.04.98


BDAL.DE                                                                Page    9


20/95 Family: XQ Owner: BFA Priority: 12.05.95 German Title: Hochfrequenz-Ionenleitsystem English Title: Method and device for the transport of ions in vacuum Inventors: Dr. Jochen Franzen

                DE 19 517 507                         21.03.96
                GB 2 300 751                          23.12.98
                US 5 708 268                          13.01.98

22/95             Family: XQ            Owner: BFA        Priority:     02.06.95

German Title: Vorrichtung fur die Einfuhrung von Ionen in ein Massenspektrometer
English Title: Method and device for the introduction of ions into the gas stream of an aperture to a mass

                 spectrometer
    Inventors:  Dr. Jochen Franzen
                DE 195 20 276                         26.08.99
                GB 2 301 703                          22.10.99
                US 5,747,799                          05.05.98

23/95             Family: XQ            Owner: BFA        Priority:     02.06.95

German Title:
English Title: Method and device for the introduction of ions into quadrupole ion traps
Inventors: Dr. Jochen Franzen

                GB 2 301 705                          10.01.00
                US 5,739,530                          14.04.98

24/95             Family: XQ            Owner: BFA        Priority:     29.06.95

German Title: Ionenfallen-Massenspektrometer mit vakuum-externer Ionenerzeugung
English Title: Ion trap mass spectrometer with vacuum-external ion generation Inventors: Dr. Jochen Franzen

                GB 2 302 984                          10.11.99
                US 5,859,433                          12.01.99

25/95             Family: XQ            Owner: BFA        Priority:     30.06.95

German Title: Verfahren und Vorrichtung fur die Reflektion von geladenen Teilchen
English Title: Method and device for the reflection of charged particles on surfaces
Inventors: Dr. Jochen Franzen

                DE 195 23 859
                GB 2 302 985                          12.01.00
                US 5 572 035                          05.11.96

26/95             Family: XQ            Owner: BFA        Priority:     14.09.95

German Title: Zwischenspeichern von Ionen fur massenspektrometrische Untersuchungen
English Title: Temporary storage of ions for mass spectrometric analyses Inventors: Dr. Jochen Franzen Dr. Michael Schubert

                EP 0 738 000 A                        16.02.00
                US 5,811,800                          22.09.98


BDAL.DE                                                                Page   10


28/95 Family: TOF Owner: BFA Priority: 19.09.95 German Title: Verbesserte Massenauflosung in Flugzeitmassenspektrometern mit Reflektoren
English Title: Mass Resolution in time-of-flight mass spectrometers with

reflectors
    Inventors:  Dr. Armin Holle  Dr. Claus Koster  Dr. Jochen Franzen
                US 5 654 545                          05.08.97

30/95 Family: TOF Owner: BFA Priority: 27.11.95 German Title: Verfahren und Vorrichtungen zur Massenspektrometrie von Tochterionen
English Title: Method for time-of-flight mass spectrometry of daughter ions Inventors: Dr. Claus Koster

                DE 195 44 808
                US 5,734,161                          31.03.98

31/95             Family: TOF           Owner: BFA        Priority:     14.12.95

German Title: Flugzeitmassenspektrometrie verbesserter Massenauflosung durch Schalten einer Zwischenblende
English Title: Method for improved mass resolution with a TOF-LD source Inventors: Dr. Armin Holle Dr. Claus Koster Dr. Jochen Franzen US 5 641 959 24.06.97

32/95 Family: TOF Owner: BFA Priority: 15.12.95 German Title: Flugzeitmassenspektrometrie mit verbesserter Massenauflosung English Title: Methjod of improving mass resolution in time-of-flight mass

spectrometry
    Inventors:  Dr. Armin Holle  Dr. Claus Koster  Dr. Jochen Franzen
                US 195 47 949
                US 5,742,049                          21.04.98

34/96 Family: TOF Owner: BFA Priority: 24.04.96 German Title: Verfahren zur matrix-unterstutzten ionisierenden Laserdesorption English Title: Method for matrix-assisted laser desorption and ionization Inventors: Dr. Claus Koster Dr. Jochen Franzen US 5,828,063 27.11.98

36/96 Family: TOF Owner: BFA Priority: 03.05.96 German Title: Lagerfahig vorpraparierte MALDI-Probentrager English Title: Prefabricated MALDI layers suitable for storage Inventors: Dr. Claus Koster Dr. Jochen Franzen Dr. Detlef Suckau

DE 196 18 032

37/96 Family: XQ Owner: BFA Priority: 20.06.96 German Title: Vorrichtung und Verfahren zum Einschuss von Ionen in eine Ionenfalle
English Title: Method and device for injection of ions into an ion trap Inventors: Dr. Jochen Franzen

                DE 196 28 179                         24.11.97
                US 5,818,055                          06.10.98


BDAL.DE                                                                Page   11


38/96 Family: TOF Owner: BFA Priority: 01.07.96 German Title: Vorrichtung zum Einschleusen von Probentragern in ein Massenspektrometer
English Title: Device and method for introduction of sample supports into a

mass spectrometer
    Inventors:  Dr. Armin Holle  Dr. Claus Koster  Rebettge
                US 5,841,136                          24.11.98

39/96 Family: TOF Owner: BFA Priority: 02.07.96 German Title: Verfahren zum Beladen von Probentragern fur Massenspektrometer English Title: Method for loading sample supports for mass spectrometers Inventors: Dr. Jochen Franzen

                DE 196 28 178                         18.09.97
                US 5,770,860                          23.06.98

41/96             Family: TOF           Owner: BFA        Priority:     15.08.96

German Title: Verfahren und Vorrichtung fur die genaue Massenbestimmung in einem Flugzeitmassenspektrometer
English Title: Adjustment of sample support in time-of-flight mass

spectrometers
    Inventors:  Dr. Claus Koster  Dr. Armin Holle  Dr. Jochen Franzen
                DE 196 33 441                         26.02.98
                US 5,910,656                          08.06.99

42/96 Family: ICR Owner: BFA Priority: 19.08.96 German Title: Vorrichtung zur Uberfuhrung von Ionen und mit dieser durchgefuhrtes Messverfahren
English Title: Introduction of ions from ion sources into mass spectrometers Inventors: Dr. Gokhan Baykut

                DE 196 29 134
                US 5,825,026                          20.10.98

43/96             Family: TOF           Owner: BFA        Priority:     20.08.96
  German Title: Genaue Massensbestimmung mit MALDI-Flugzeitmassenspektrometern
  English Title: Exact mass determination with MALDI time-of-flight mass
spectrometers
    Inventors:  Dr. Jochen Franzen  Dr. Claus Koster
                DE 196 33 507                         21.12.97
                US 5,869,830                          09.02.99

44/96 Family: TOF Owner: BFA Priority: 30.08.96 German Title: Korrektur der Massenbestimmung mit MALDI-Flugzeitmassenspektrometern
English Title: Accurate mass determination with MALDI time-of-flight mass spectrometers using internal
reference substances

    Inventors:  Dr. Claus Koster  Dr. Jochen Franzen  Dr. Armin Holle
                DE 196 35 646                         29.01.98
                US 5,886,345                          23.03.99


BDAL.DE                                                                Page   12


45/96 Family: TOF Owner: BFA Priority: 30.08.96 German Title: Hochstauflosendes lineares Flugzeitmassenspektrometer English Title: Linear time-of-flight mass spectrometer with high mass resolution
Inventors: Dr. Jochen Franzen

US 5,905,259 18.05.99

46/96 Family: TOF Owner: BFA Priority: 31.08.96 German Title: Hochauflosende Ionendetektion fur lineare Flugzeitmassenspektrometer
English Title: High resolution ion detection for linear time-of-flight mass spectrometers
Inventors: Dr. Jochen Franzen

US 5,898,173 27.04.99

47/96 Family: TOF Owner: BFA Priority: 09.09.96 German Title: Hochstauflosende Geometrie fur lineares Flugzeitmassenspektrometer
English Title: Geometry for a linear time-of-flight mass spectrometer with very high resolution
Inventors: Dr. Jochen Franzen

US 5,898,174 27.04.99

48/96 Family: TOF Owner: BFA Priority: 13.09.96 German Title: Simultane Fokussierung aller Massen in Flugzeitmassenspektrometern
English Title: Wide mass range focusing in time-of-flight mass spectrometers Inventors: Dr. Jochen Franzen

                DE 196 38 577                         15.01.98
                US 5,969,348                          19.10.99

50/97             Family: TOF           Owner: BFA        Priority:     24.02.97

German Title: Zwei-Schritt-Verfahren der DNA-Amplifikation fur MALDI-TOF-Messungen
English Title: Two-step method of DNA amplification for MALDI-TOF measurement Inventors: Dr. Ivo Gut Dr. Jochen Franzen DE 197 10 166 10.12.98

51/97 Family: XQ Owner: B+H Priority: 04.03.97 German Title: Verfahren der vergleichenden Analyse mit Ionenfallen-Massenspektrometern
English Title: Methods of comparative analyses using ion trap mass spectrometers
Inventors: Dr. Michael Schubert Dr. John Fjeldsted Dr. Jochen Franzen US 5,903,003 11.05.99

52/97 Family: XQ Owner: B+H Priority: 04.03.97 German Title: Verfahren der Raumladungsregelung von Tochterionen in Ionenfallen
English Title: Method for space-charge control of daughter ions in ion traps Inventors: Dr. Jochen Franzen Dr. Michael Schubert US 5,936,241 10.08.99

BDAL.DE Page 13


53/97 Family: TOF Owner: BFA Priority: 14.04.97 German Title: Verfahren und Gerate fur extrem schnelle DNA-Vervielfachung durch Polymerase-Kettenreaktionen (PCR)
English Title: Methods for extremely fast DNA replication by polymerase chain reactions (PCR)
Inventors: Dr. Jochen Franzen
DE 197 17 085 17.06.99

54/97 Family: XQ Owner: B+H Priority: 04.08.97 German Title: Axialsymmetrische Ionenfalle fur massenspektrometrische Messungen
English Title: Ion trap mass spectrometer of high mass-constancy Inventors: Gerhard WeiB Alfred Kraffert Dr. Michael Schubert Dr. Jochen Franzen
DE 197 33 834 04.03.99

55/97 Family: TOF Owner: BFA Priority: 30.08.97 German Title: Flugzeitmassenspektrometer mit thermokompensierter Fluglange English Title: Time-of-flight mass spectrometer with constant flight path length
Inventors: Dr. Jochen Franzen

US 6,049,077 11.04.00

59/97 Family: TOF Owner: BFA Priority: 08.12.97 German Title: Probentrager fur die MALDI-Massenspektrometrie nebst Verfahren zur Herstellung der Platten und zum Aufbringen der Proben English Title: Sample support plates for MALDI mass spectrometry including methods for manufacture of plates and application of samples Inventors: Dr. Martin Dr. Jochen Franzen
DE 197 54 978

61/98 Family: TOF Owner: BFA Priority: 26.01.98 German Title: Massenspektrometrisches Verfahren zur genauen Massenbestimmung unbekannter Ionen
English Title: Mass spectrometry method for accurate mass determination of unknown ions
Inventors: Dr. Claus Koster
DE 198 03 309 07.10.99

62/98 Family: TOF Owner: BFA Priority: 23.02.98 German Title: Verfahren zur qualitativen Schnellauswertung analytischer Massenspektren
English Title: Method of fast evaluation of analytical mass spectra Inventors: Dr. Jochen Franzen
DE 198 08 584 26.08.99

66/98 Family: TOF Owner: BFA Priority: 10.06.98 German Title: Thermostabile Flugzeiten in Flugzeitmassenspektrometern English Title: Method and apparatus for thermally stabilizing flight times in time-of-flight mass spectrometers
Inventors: Horst Rache
DE 198 27 841 10.02.00

BDAL.DE Page 14


71/98 Family: DA Owner: BFA Priority: 28.09.98 German Title: Verfahren fur die interaktive Steuerung von Me(beta)- oder Auswerteverfahren in Chromatographie, Spektroskopie oder Elektrophorese English Title: Method of using the mouse for interactive control in chromatography or spectroscopy
Inventors: Dr. Carsten Bassmann
DE 198 45 699 02.12.99

BDAL.DE Page 15


Bruker Daltonik GmbH, Bremen:  Patent Applications      as of 12. Apr. 00
  (in sequence of priority dates)
  P5511           Family: CB            Owner: BFA        Priority:     18.02.89

German Titel:
English Titel: Method and instrument for mass analyzing samples with a quistor Inventors: Dr. Jochen Franzen Dr. R.-H. Gabling Gerhard Heinen Gerhard WeiB

P5997 Family: MM Owner: BFA Priority: 13.11.92 German Title: Mobiles Massenspektrometer mit einer Probenahmevorrichtung mit drehbarem Spurrad mit Metallfelge
English Titel: Sampling device comprising a revolvable sampling wheel with a metal wheel rim
Inventors: Dr. Dieter Koch G. Menne Alfred Kraffert R. Spudich Gerhard WeiB

18/95 Family: IMS Owner: BSA Priority: 26.04.95 German Title: Verfahren zur Messung von Ionenmobilitatsspektren English Titel: Method of measuring ion mobility spectra Inventors: Dr. Jochen Franzen

28/95 Family: TOF Owner: BFA Priority: 19.09.95 German Title: Verbesserte Massenauflosung in Flugzeitmassenspektrometern mit Reflektoren
English Titel: Mass Resolution in time-of-flight mass spectrometers with reflectors
Inventors: Dr. Armin Holle Dr. Claus Koster Dr. Jochen Franzen

30/95 Family: TOF Owner: BFA Priority: 27.11.95 German Title: Verfahren und Vorrichtungen zur Massenspektrometrie von Tochterionen
English Titel: Method for time-of-flight mass spectrometry of daughter ions Inventors: Dr. Claus Koster

32/95 Family: TOF Owner: BFA Priority: 15.12.95 German Title: Flugzeitmassenspektrometrie mit verbesserter Massenauflosung English Titel: Methjod of improving mass resolution in time-of-flight mass spectrometry
Inventors: Dr. Armin Holle Dr. Claus Koster Dr. Jochen Franzen

33/96 Family: TOF Owner: BFA Priority: 08.03.96 German Title: Ionisierung schwerer Molekule bei Atmospharendruck English Titel: Method for the ionization of heavy molecules at atmospheric

pressure
     Inventors:  Dr. Jochen Franzen  Dr. Claus Koster


BDAL.DE  Patent                                                        Page    1


34/96 Family: TOF Owner: BFA Priority: 24.04.96 German Title: Verfahren zur matrix-unterstutzten ionisierenden Laserdesorption English Titel: Method for matrix-assisted laser desorption and ionization Inventors: Dr. Claus Koster Dr. Jochen Franzen

GB 2 299 445 A

36/96 Family: TOF Owner: BFA Priority: 03.05.96 German Title: Lagerfahig vorpraparierte MALDI-Probentrager English Titel: Prefabricated MALDI layers suitable for storage Inventors: Dr. Claus Koster Dr. Jochen Franzen Dr. Detlef Suckau

37/96 Family: XQ Owner: BFA Priority: 20.06.96 German Title: Vorrichtung und Verfahren zum Einschuss von Ionen in eine Ionenfalle
English Titel: Method and device for injection of ions into an ion trap Inventors: Dr. Jochen Franzen

38/96 Family: TOF Owner: BFA Priority: 01.07.96 German Title: Vorrichtung zum Einschleusen von Probentragern in ein Massenspektrometer
English Titel: Device and method for introduction of sample supports into a mass spectrometer
Inventors: Dr. Armin Holle Dr. Claus Koster Jens Rebettge

39/96 Family: TOF Owner: BFA Priority: 02.07.96 German Title: Verfahren zum Beladen von Probentragern fur Massenspektrometer English Titel: Method for loading sample supports for mass spectrometers Inventors: Dr. Jochen Franzen

41/96 Family: TOF Owner: BFA Priority: 15.08.96 German Title: Verfahren und Vorrichtung fur die genaue Massenbestimmung in einem Flugzeitmassenspektrometer
English Titel: Adjustment of sample support in time-of-flight mass spectrometers
Inventors: Dr. Claus Koster Dr. Armin Holle Dr. Jochen Franzen

42/96 Family: ICR Owner: BFA Priority: 19.08.96 German Title: Vorrichtung zur Uberfuhrung von Ionen und mit dieser durchgefuhrtes Messverfahren
English Titel: Introduction of ions from ion sources into mass spectrometers Inventors: Dr. Gokhan Baykut

BDAL.DE Patent Page 2


43/96 Family: TOF Owner: BFA Priority: 20.08.96 German Title: Genaue Massensbestimmung mit MALDI-Flugzeitmassenspektrometern English Titel: Exact mass determination with MALDI time-of-flight mass spectrometers
Inventors: Dr. Jochen Franzen Dr. Claus Koster

44/96 Family: TOF Owner: BFA Priority: 30.08.96 German Title: Korrektur der Massenbestimmung mit MALDI-Flugzeitmassenspektrometern
English Titel: Accurate mass determination with MALDI time-of-flight mass spectrometers using internal reference substances Inventors: Dr. Claus Koster Dr. Jochen Franzen Dr. Armin Holle

45/96 Family: TOF Owner: BFA Priority: 30.08.96 German Title: Hochstauflosendes lineares Flugzeitmassenspektrometer English Titel: Linear time-of-flight mass spectrometer with high mass resolution
Inventors: Dr. Jochen Franzen

46/96 Family: TOF Owner: BFA Priority: 31.08.96 German Title: Hochauflosende Ionendetektion fur lineare Flugzeitmassenspektrometer
English Titel: High resolution ion detection for linear time-of-flight mass spectrometers
Inventors: Dr. Jochen Franzen

47/96 Family: TOF Owner: BFA Priority: 09.09.96 German Title: Hochstauflosende Geometrie fur lineares Flugzeitmassenspektrometer
English Titel: Geometry for a linear time-of-flight mass spectrometer with very high resolution
Inventors: Dr. Jochen Franzen

48/96 Family: TOF Owner: BFA Priority: 13.09.96 German Title: Simultane Fokussierung aller Massen in Flugzeitmassenspektrometern
English Titel: Wide mass range focusing in time-of-flight mass spectrometers Inventors: Dr. Jochen Franzen

49/96 Family: TOF Owner: BFA Priority: 25.10.96 German Title: Hochauflosender Hochmassendetektor fur Flugzeitmassenspektrometer
English Titel: Ion detector
Inventors: Dr. Claus Koster

BDAL.DE Patent Page 3


50/97 Family: TOF Owner: BFA Priority: 24.02.97 German Title: Zwei-Schritt-Verfahren der DNA-Amplifikation fur MALDI-TOF-Messungen
English Titel: Two-step method of DNA amplification for MALDI-TOF measurement Inventors: Dr. Ivo Gut Dr. Jochen Franzen

51/97 Family: XQ Owner: B+H Priority: 04.03.97 German Title: Verfahren der vergleichenden Analyse mit Ionenfallen-Massenspektrometern
English Titel: Methods of comparative analyses using ion trap mass spectrometers
Inventors: Dr. Michael Schubert Dr. John Fjeldsted Dr. Jochen Franzen

52/97 Family: XQ Owner: B+H Priority: 04.03.97 German Title: Verfahren der Raumladungsregelung von Tochterionen in Ionenfallen
English Titel: Method for space-charge control of daughter ions in ion traps Inventors: Dr. Jochen Franzen Dr. Michael Schubert

GB 2 322 961

53/97 Family: TOF Owner: BFA Priority: 14.04.97 German Title: Verfahren und Gerate fur extrem schnelle DNA-Vervielfachung durch Polymerase-Kettenreaktionen (PCR)
English Titel: Methods for extremely fast DNA replication by polymerase chain reactions (PCR)
Inventors: Dr. Jochen Franzen

54/97 Family: XQ Owner: B+H Priority: 04.08.97 German Title: Axialsymmetrische Ionenfalle fur massenspektrometrische Messungen
English Titel: Ion trap mass spectrometer of high mass-constancy Inventors: Gerhard WeiB Alfred Kraffert Dr. Michael Schubert Dr. Jochen Franzen

55/97 Family: TOF Owner: BFA Priority: 30.08.97 German Title: Flugzeitmassenspektrometer mit thermokompensierter Fluglange English Titel: Time-of-flight mass spectrometer with constant flight path length
Inventors: Dr. Jochen Franzen

GB 2 329 066

BDAL.DE Patent Page 4


56/97 Family: XQ Owner: B+H Priority: 17.11.97 German Title: Quadrupol-Hochfrequenz-Ionenfallen fur Massenspektrometer English Titel: Quadrupole RF ion traps for mass spectrometers Inventors: Dr. Jochen Franzen Prof.Dr. Arne Kasten

57/97 Family: XQ Owner: B+H Priority: 25.11.97 German Title: Vorselektion extern erzeugter Ionen fur Quadrupol-Ionenfallen English Titel: Preselection of externally generated ions for quadrupole ion traps
Inventors: Dr. Michael Schubert Dr. Jochen Franzen

59/97 Family: TOF Owner: BFA Priority: 08.12.97 German Title: Probentrager fur die MALDI-Massenspektrometrie nebst Verfahren zur Herstellung der Platten und zum Aufbringen der Proben English Titel: Sample support plates for MALDI mass spectrometry including methods for manufacture of plates and application of samples Inventors: Dr. Martin Schurenberg Dr. Jochen Franzen

60/98 Family: TOF Owner: BFA Priority: 19.01.98 German Title: Verfahren zur bevorzugten Herstellung nur eines Stranges selektierten Genmaterials fur massenspektrometrische Messungen English Titel: Method for preferred production of only one strand of selected genetic material for mass spectrometric measurements Inventors: Dr. Jorn Mosner Dr. Jochen Franzen

61/98 Family: TOF Owner: BFA Priority: 26.01.98 German Title: Massenspektrometrisches Verfahren zur genauen Massenbestimmung unbekannter Ionen
English Titel: Mass spectrometry method for accurate mass determination of unknown ions
Inventors: Dr. Claus Koster

BDAL.DE Patent Page 5


62/98 Family: TOF Owner: BFA Priority: 23.02.98 German Title: Verfahren zur qualitativen Schnellauswertung analytischer Massenspektren
English Titel: Method of fast evaluation of analytical mass spectra Inventors: Dr. Jochen Franzen

65/98 Family: TOF Owner: BFA Priority: 30.04.98 German Title: Mutationsanalyse mitteld Massenspektrometrie English Titel: Mutation analysis using mass spectrometry Inventors: Dr. Ivo Gut

66/98 Family: TOF Owner: BFA Priority: 10.06.98 German Title: Thermostabile Flugzeiten in Flugzeitmassenspektrometern English Titel: Method and apparatus for thermally stabilizing flight times in time-of-flight mass spectrometers
Inventors: Horst Rache
GB 2 338 824

67/98 Family: TOF Owner: BFA Priority: 15.06.98 German Title: Ionisierung hochmolekularer Substanzen durch Laserdesorption aus flussigen Matrices
English Titel: Ionization of high-molecular substances by laser desorption from liquid matrices
Inventors: Dr. Claus Koster Dr. Jochen Franzen

GB 2 340 298

68/98 Family: TOF Owner: BFA Priority: 20.06.98 German Title: Me(beta)verfahren fur Polymorphismen und Mutationen in Nukleinsauren
English Titel: Methods of screening nucleic acids using mass spectrometry Inventors: Thomas Bonk Dr. Andreas Humeny Prof. Cord-Michael Prof. M. von Knebel Dr. Jochen Franzen

70/98 Family: XQ Owner: BFA Priority: 28.09.98 German Title: Verfahren zur Darstellung von Tochterionespektren der Ionenfallen-Massenspektrometrie
English Titel: Methods for library searches and extraction of structural information from daughter ion spectra in ion trap mass spectrometry Inventors: Dr. Jochen Franzen

BDAL.DE Patent Page 6


71/98 Family: DA Owner: BFA Priority: 28.09.98 German Title: Verfahren fur die interaktive Steuerung von Me(beta)- oder Auswerteverfahren in Chromatographie, Spektroskopie oder Elektrophorese English Titel: Method of using the mouse for interactive control in chromatography or spectroscopy
Inventors: Dr. Carsten Bassmann

*72/98 Family: XQ Owner: BFA Priority: 28.09.98 German Title: Verfahren zur Verwaltung von Tochterionen uber mehrere Generationen
English Titel: Method for management of daughter ion spectra over several generations
Inventors: Dr. Andreas Germanus

07/98 Family: TOF Owner: BSA Priority: 10.11.98 German Title: Einfache SNP-Analyse mittels Massenspektrometrie English Titel: Simple SNP analysis using mass spectrometry Inventors: Dr. Markus Kostrzewa Dr. Thomas Frohlich Dr. Thomas Wenzel

74/98 Family: TOF Owner: BDAL Priority: 30.11.98 German Title: Tochterionenspektren mit Flugzeitmassenspektrometern English Titel: Daughter ion spectra with time-of-flight mass spectrometers Inventors: Dr. Claus Koster Dr. Armin Holle Dr. Jochen Franzen

75/99 Family: TOF Owner: BDAL Priority: 27.01.99 German Title: Validierbare Punktmutationsanalyse mittels Massenspektrometrie English Titel:
Inventors: Dr. Ivo Gut Dr. Jochen Franzen

76/99 Family: ICR Owner: BDAL Priority: 12.03.99 German Title: Verfahren und Vorrichtung zur matrixunterstutzten Laserdesorptions-Ionisierung von Substanzen English Titel: A method and device for matrix assisted laser desorption ionization of substances
Inventors: Dr. Gokhan Baykut

77/99 Family: ICR Owner: BDAL Priority: 15.05.99 German Title: Verfahren und Vorrichtung zur Regelung der Ionenzahl in Ionenfallen-Massenspektrometern
English Titel:
Inventors: Dr. Gokhan Baykut Dr. Jochen Franzen


* This patent is used from time to time by parties to this agreement other than BDAL in connection with the use by such parties of BDAL's HyStar software.

BDAL.DE Patent Page 7


78/99 Family: TOF Owner: BDAL Priority: 16.05.99 German Title: Aufreinigende Probentrager fur die MALDI-Massenspektrometrie English Titel:
Inventors: Dr. Jochen Franzen

79/99 Family: TOF Owner: BDAL Priority: 30.06.99 German Title: Kopplung Dunnschicht-Chromatographie und Massenspektrometrie
(TLC/MS)
English Titel:
Inventors: Dr. F.-J. Mayer-Posner Dr. Jochen Franzen

*80/99 Family: XQ Owner: BDAL Priority: 01.07.99 German Title: Steuerung von Mess- und Auswerteverfahren mit der Computermaus English Titel:
Inventors: Rudiger Dreier Dr: Gerd Eden Dr. Jochen Franzen

81/99 Family: XQ Owner: BDAL Priority: 12.07.99 German Title: Fragmentierung in Quadrupol-Ionenfallenmassenspektrometern English Titel:
Inventors: Dr. Andeas Brekenfeld Dr. Michael Schubert Dr. Jochen Franzen

82/99 Family: ICR Owner: BDAL Priority: 03.08.99 German Title: Vorrichtung und Verfahren zum abwechselnden Betrieb mehrerer Ionenquellen
English Titel:
Inventors: Dr. Gokhan Baykut

83/99 Family: TOF Owner: BDAL Priority: 01.10.99 German Title: Kompaktes Reflektor-Flugzeitmassenspektrometer hochster Massenauflosung
English Titel:
Inventors: Dr. Armin Holle

84/99 Family: TOF Owner: BDAL Priority: 04.10.99 German Title: Prozessieren von Proben in Losung mit definiert kleiner Wandkontaktflache
English Titel:
Inventors: Dr. Martin Schurenberg Dr. Jochen Franzen Dr. Eckehard Nordhof Dr. Holger Eickhoff


* This patent is used from time to time by parties to this agreement other than BDAL in connection with the use by such parties of BDAL's HyStar software.

BDAL.DE Patent Page 8


85/99 Family: TOF Owner: BDAL Priority: 04.11.99 German Title: Kontaminationsfreie Ubertragung von Bioproben English Titel:
Inventors: Dr. Jochen Franzen

86/99 Family: TOF Owner: BDAL Priority: 10.12.99 German Title: Ionenselektor fur Tochterionenspektren in Flugzeitmassenspektrometern
English Titel:
Inventors: Platzhalter

87/99 Family: Owner: B+E Priority: 19.12.99 German Title: Massenspektrometrische Genotypisiserung des Gens MDR-1 English Titel:
Inventors: Platzhalter

88/00 Family: TOF Owner: BDAL Priority: 08.02.00 German Title: Gitterloses Reflektor-Flugzeitmassenspektrometer fur orthogonalen Ioneneinschuss
English Titel:
Inventors: Dr. Jochen Franzen

89/00 Family: TOF Owner: BDAL Priority: 27.02.00 German Title: Konditionierung eines Ionenstrahls fur den Einschuss in ein Flugzeitmassenspektrometer
English Titel:
Inventors: Dr. Jochen Franzen

90/00 Family: Owner: BDAL Priority: 06.03.00 German Title: Tandem-Massenspektrometer aus zwei Quadrupolfiltern English Titel:
Inventors: Dr. Jochen Franzen

BDAL.DE Patent Page 9


Exhibit 10.3

MALDI-TOF Mass Spectrometry

Collaboration and OEM Agreement

between

PerkinElmer Instruments LLC and its Affiliates ("PKI")

and

Bruker Daltonics Inc. and its Affiliates ("BDAL")

1. BACKGROUND

o PKI wishes to offer and distribute a MALDI-TOF system to its North American pharmaceutical, biotech, food and chemical industry customers, as well as to certain international markets by Q2-2000.

o PKI requires a high-quality MALDI-TOF for a diverse range of customer applications from a supplier with a strong reputation.

o PKI has particularly strong distribution channels into pharmaceutical and food QA/QC, pharma/biotech and chemical manufacturing, pharma/biotech drug development, pre-clinical and clinical trials.

o PKI also has international distribution strength in certain markets where BDAL is not well established, e.g. Latin America, Italy, Eastern Europe, Israel, India;

o If PKI rolls out a MALDI-TOF, it intends to sell such a product in significant numbers. Eventually, PKI wishes to sell such a product globally.

o Based on the performance, automation and quality of its systems, BDAL has recently become the leading MALDI-TOF company for high-end research applications in proteomics, PKIs, and drug discovery.

1

o BDAL has significant MALDI-TOF sales into universities, medical schools, government research labs, and pharma/biotech research and drug discovery labs.

o BDAL presently does not have strong distribution into industrial QA/QC, manufacturing, clinical trials, and drug development, and BDAL does not have complete international distribution coverage

o At Pittcon 2000, BDAL will introduce a high-performance, bench-top, PC/NT-driven MALDI-TOF system called OmniFLEXT(TM). This new product has very good performance/price ratio compared to otherbench-top MALDI-TOFs on the market. It is arguably "the first bench-top MALDI-TOF worth buying". The OmniFLEX also features an attractive industrial design, and a well thought-out intuitive GUI.

2. OBJECTIVE

PKI and BDAL wish to enter into a strategic alliance in MALDI-TOF mass spectrometry. In particular, PKI and BDAL wish to collaborate on the distribution of BDAL's linear bench-top OMNIFLEXTm MALDI-TOF system via PKI's international distribution system.

3. TERM AND NON-COMIPETE CLAUSE

Once signed by both parties this Agreement shall initially be valid until Dec. 31, 2001 ("Phase I"). If both PKI and BDAL are satisfied with Phase I of this Agreement, and if and when the numerical targets agreed to herein for Phase I have been reached, then this Agreement shall be automatically extended to Dec. 31st , 2003 ("Phase 2"). Thereafter, this Agreement is renewable for additional two-year periods by mutual written consent.

2

During the Term of this Agreement, and, except as described below, for one
(1) year following the expiration or termination of this Agreement, PKI will not develop, manufacture, offer to sell, sell or deliver any other benchtop MALDI-TOF system comparable to the OmniFLEX, i.e. in the selling price range between $80,000 to $140,000, and not built by BDAL, unless BDAL cannot deliver systems without sustained, substantial and non-solvable delivery or quality problems which negatively impact PKI's ability to sell the OmniFLEX.

Any MALDI-TOF system manufactured and/or sold by Genomic Solutions Inc. as part of a complete proteomics solution (presently called Investigator(TM) proteomics solution) via PKI or other sales channels shall be specifically excluded from this non-compete clause. Also, this non-compete clause shall not apply if PKI acquires an instrument company with a MALDI-TOF product line if that line represents less than 30% of the acquired company's business. Finally, this non-compete clause shall not apply if BDAL is not willing to sell and deliver OmniFLEX systems to PKI, for example by refusing to extend this Collaboration into a Phase 2 (see below), even though PKI may have achieved the minimum quantities of Phase I (see below).

4. PRODUCT DEFINITION & CO-LABELLING

The mass spectrometer that may be resold by PKI as an authorized OEM-dealer for BDAL is a linear OMNIFLEX(TM) MALDI-TOF, as described in Attachment A, which will meet the specifications contained in Attachment B. PKI may also resell additional BDAL MALDI-TOF accessories, such as MAP(TM) MALDI AutoPrep robots, AnchorChip(TM) high-sensitivity targets, various post-processing software packages, and MALDI-TOF consumables (collectively the "Accessories"), which are described on

3

BDAL's standard U.S. MALDI-TOF price list from time to time. The linear OmniFLEX system to be sold by PKI will be co-labeled with both, equally-sized PKI and BDAL decals on the system.

If, during the term of this Agreement BDAL introduces a system that replaces or supersedes the OmniFLEX or introduces new Accessories, BDAL will sell such products to PKI under the terms of this Agreement.

PKI is specifically not authorized to sell the reflector version of the OmniFLEX. If a research customer absolutely needs a reflector OmniFLEX system from the beginning, then PKI will pass this customer lead on to BDAL. The only exception to this policy is that PKI upon specific request by its linear OmniFLEX customer, may sell the reflector upgrade to PKI linear OmniFLEX customers who have accepted their PKI-purchased linear OnmiFLEX more than twelve
(12) months before those customers request an upgrade. The transfer price to PKI will be the BDAL U.S. list price minus a 10% finders' fee for PKI. BDAL will install the reflector upgrade, and provide a limited 90-day warranty on the reflector upgrade. Moreover, PKI agrees not to incentivize its sales force or product manager for reflectron upgrades sold via PKI to its customer base of linear OmniFLEX customers.

For customer leads passed from PKI to BDAL which result in an accepted purchase order for a reflectron OmniFLEX, or a reflectron upgrade, to BDAL, BDAL will pay PKI a 5% finder's fee of the purchase order net amount, provided that PKI played a significant and substantial role in assisting BDAL with the systems sale (i.e. this would apply if a joint sales call took place, but it would not apply for passing on lists of potential customers, unqualified general leads, etc.).

4

It is understood that BDAL itself will also continue to sell the OmniFLEX, including a version with an optional reflector, and nothing contained in this Agreement shall prevent BDAL from selling or distributing its OmniFLEX system also via additional third-party distribution channels in the future.

PKI and BDAL agree that on-time deliveries and high quality are important for the success of this Collaboration. If repeated substantially late deliveries and major quality problems arise, PKI and BDAL will try to resolve these issues mutually. If BDAL cannot deliver OmniFLEX systems to PKI without sustained, substantial and non-solvable delivery or quality problems which negatively impact PKI's ability to sell the OmniFLEX, then PKI can terminate this Agreement with one hundred twenty (120) days written notice, including a ninety (90) day period during which BDAL is afforded an opportunity to fix the delivery or quality problems.

5. INTRODUCTION AND PHASE 1

PKI and BDAL intend to announce their strategic alliance and simultaneously introduce the OmniFLEX at Pittcon 2000 on March 13th, 2000. BDAL will loan an OmniFLEX shell or system to PKI for Pittcon 2000. If PKI can provide paint color requests and decals to BDAL very soon, then BDAL will make a best effort to have a co-labeled OmniFLEX shell or system in the PKI selected colors at the PKI booth at Pittcon.

This strategic alliance will be announced in a joint mutually agreeable press release, which will initially be drafted by PKI.

5

For Phase 1 of this Agreement until Dec. 31st, 2001, PKI with the signing of this Agreement places a firm, fixed minimum order with BDAL for [*](1) systems to be delivered to PKI at a minimum rate of [*] per month for July-October 2000, and going up to [*] per month for the thirteen month period between November 2000 and November 2001, for a minimum total of [*] systems. This order shall be accompanied by a non-refundable down-payment of forty percent (40%) of the total order value, i.e. [*], which will be credited against actual deliveries of OmniFLEX systems to PKI. Alternatively, PKI may opt to pay a cash down-payment of forty percent (40%) for the first [*] units in the amount of [*], plus an irrevocable letter of credit acceptable to BDAL for the down-payment of forty percent (40%) on the remaining [*] units in the amount of
[*], with both amounts to be credited against actual deliveries of OmniFLEX systems to PKI. The letter of credit will provide that, if PKI fails to meet its commitment to purchase and take delivery of systems in accordance with the agreed upon monthly delivery rate, BDAL shall have the right, after giving thirty (30) days written notice to PKI, to call the letter of credit. The letter of credit will be reduced quarterly on the last business day of the quarter in an amount equal to the value of the units delivered to PKI during such quarter.

Should PKI determine that it needs more systems during Phase 1, then PKI will advise BDAL as soon as practical on forecasting for additional systems deliveries. Should PKI take delivery and pay for all [*] systems (or optionally
[*] systems, see below) ordered in Phase 1 well before Dec. 31st, 2001, then Phase 2 will begin earlier, i.e.


(1) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

6

whenever PKI has taken delivery and paid for the first [*](2) systems (or optionally [*] systems, see below).

During Phase 1, PKI may re-sell the co-labeled OmniFLEX MALDI-TOF

o in the US, Canada and Mexico into

(i) the for-profit food and agriculture industries for any application, including but not limited to research, production, product safety and or distribution;

(ii) the for-profit chemical, petroleum and polymer industries for applications involving

(a) the characterization of raw materials, intermediates and products used in the production and distribution of synthetic polymers, bulk chemicals, specialty chemicals, and petrochemicals, and

(b) the development of analytical methods used to support the characterizations describe in (ii)(a) above; and

(c) research laboratories only as far as these research labs are involved in methods development for (ii)(a) and (ii)(b) above;

(iii) QA/QC, manufacturing, drug development and clinical trials in the for-profit pharmaceutical and biotech industry for applications specifically involving

(a) the characterization of any molecular components integral to the manufacture and distribution of commercial products, and

(b) the characterization of any molecular component integral to the development and evaluation of pharmacologically active compounds for any


(2) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

7

development phase after the identification of lead candidate compounds, including characterization of polypeptides, oligonucleotides, and carbohydrates synthesized within core laboratories when these compounds are used as enabling tools for any development phase after the drug discovery phase and the identification of lead compounds.

In Phase 1, if PKI increases the minimum order from [*](3) to [*] systems over eighteen (18) months, PKI shall have the option of adding the following countries and fields-of-use to its authorized reselling territory:

o Central and South America to all potential customers

o Italy, Greece, Turkey, Eastern Europe, Israel, and India to all potential customers.

In Phase 1, PKI is not permitted to re-sell the OmniFLEX into any other country, and PKI is not permitted to re-sell the OmniFLEX in the U.S. and Canada into pharmaceutical/biotech laboratories performing drug discovery, including target research and discovery of new lead compounds; into chemical/polymer research labs, except as described in (ii)(c) above; or into academic, non-profit or governmental customer accounts.

During Phase 1, BDAL will be responsible for installation and warranty service of the co-labeled OmniFLEX in the U.S., Canada and Mexico. If PKI elects to add Central and South America, Italy, Greece, Turkey, Eastern Europe, Israel, and India, then BDAL will initially be responsible for the installation, but PKI will participate in the installation in


(3) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

8

order to train its local technicians, and PKI will be responsible for the post-installation warranty service. BDAL will provide 1-2 weeks of installation and service training to PKI at mutually agreeable times at BDAL's Massachusetts factory.

At the beginning of Phase 1, BDAL will generally assist PKI with transferring marketing materials (e.g. Powerpoint presentations, brochures, flyers, manual, advertisements) to PKI at no charge, except for direct printing cost. BDAL retains all rights, including its copyright on these materials, but PKI is authorized to use these materials as co-labeled materials for its own marketing purposes, provided that any material changes in content must be approved in writing by BDAL. However, PKI is responsible for its own advertising, trade show and similar costs. If PKI develops additional marketing materials (e.g. application notes, product notes, photos, etc.), PKI will provide these materials to BDAL at no charge, except for direct printing cost. PKI retains all rights, including its copyright, and BDAL will obtain prior written permission from PKI if BDAL makes material changes in content. BDAL has the right to use the PKI materials as co-labeled materials for marketing purposes.

6. CONTINUATION AND PHASE 2

If PKI reaches or exceeds the minimum sales goal of [*](4) systems (or optionally [*] systems) in Phase 1, then this OEM distribution model is expanded globally for Phase 2, starting Jan. 1st, 2002, and until this Agreement is terminated. If at the end of Phase 1 the minimum sales goal of [*] systems (or optionally [*] systems) has not been reached


(4) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

9

by PKI, then this Agreement can either be terminated by either party hereto, or PKI and BDAL may mutually agree to extend Phase 1 by another 2 years.

At least 4 months prior to the beginning of the two-year Phase 2, as well as at least 4 months prior to the beginning of any subsequent 2-year Phase 2 agreement period, PKI will order a two-year minimum order to be mutually agreed upon, but in any case greater than [*](5) systems per month, to be delivered to PKI over 2 years at a minimum rate of greater than [*] systems per month. Unless the parties otherwise mutually agree, this two-year order shall be accompanied with a non-refundable down-payment of forty percent (40%) of the total order value, which will be credited against actual deliveries of OmniFLEX systems to PKI.

Alternatively, PKI may opt to pay a cash down-payment of forty percent (40%) for the first third (one 3rd), plus an irrevocable letter of credit acceptable to BDAL for the down-payment of forty percent (40%) on the remaining two thirds (two 3rds), with both amounts to be credited against actual deliveries of OmniFLEX systems to PKI. The letter of credit will provide that, if PKI fails to meet its commitment to purchase and take delivery of systems in accordance with the agreed upon monthly delivery rate, BDAL shall have the right, after giving thirty (30) days written notice to PKI, to call the letter of credit The letter of credit will be reduced quarterly on the last business day of the quarter in an amount equal to the value of the units delivered to PKI during such quarter.


(5) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

10

Should PKI determine that it needs more systems during Phase 2, then PKI will advise BDAL as soon as practical on forecasting for additional systems deliveries.

During Phase 2 and subsequently, PKI may re-sell the OmniFLEX MALDI-TOF

o in the U.S., Canada and Mexico into

(i) the for-profit food and agriculture industries for any application, including but not limited to research, production, product safety and or distribution;

(ii) the for-profit chemical, petroleum and polymer industries for applications involving

(a) the characterization of raw materials, intermediates and products used in the production and distribution of synthetic polymers, bulk chemicals, specialty chemicals, and petrochemicals, and

(b) the development of analytical methods used to support the characterizations describe in (ii)(a) above; and

(c) research laboratories only as far as these research labs are involved in methods development for (ii)(a) and (ii)(b) above;

(iii) QA/QC, manufacturing, drug development and clinical trials in the for profit pharmaceutical and biotech industry for applications specifically involving

(a) the characterization of any molecular components integral to the manufacture and distribution of commercial products, and

(b) the characterization of any molecular component integral to the development and evaluation of pharmacologically active compounds for any development phase after the identification of lead candidate compounds, including characterization of polypeptides, oligonucleotides, and

11

carbohydrates synthesized within core laboratories when these compounds are used as enabling tools for any development phase after the drug discovery phase and the identification of lead compounds. in such other countries and geography, which may be broader than during Phase 1, and into country-specific fields of use as will be mutually agreed between the parties prior to the beginning of Phase 2, provided that the monthly minimum quantity of units will exceed the two (2) units per month of Phase 1 by a mutually agreeable amount.

In Phase 2 and subsequently, PKI is not permitted to re-sell the OmniFLEX globally into pharmaceutical/biotech laboratories performing drug discovery, including target research and discovery of new lead compounds; into chemical/polymer research labs, except as described in (ii)(c) above, or into academic, non-profit or governmental customer accounts. During Phase 2, PKI will be responsible for installation and warranty service of the co-labeled OmniFLEX globally.

For post-warranty service, PKI and BDAL will adopt a two-layer service strategy with front-line service support by PKI for straight-forward service issues (e.g. subunit exchange, calibration, vacuum service, laser alignment, software loading), and back-up BDAL service by factory-engineers for difficult problems.

7. OEM PRICING AND VOLUME DISCOUNTS

Assuming that PKI herewith places a minimum order with BDAL for [*](6) systems at the beginning of Phase 1, as discussed in section 5 above, and a minimum order of [*]


(6) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

12

systems at the beginning of the Phase 2 two-year period (or subsequent two-year Phase 2 type periods), an OEM Discount of [*](7) shall apply, as long as BDAL is responsible for installation and warranty service. "OEM Discount" is the percentage discount off the U.S. list price given in Attachment A, which shall be fixed for Phase 1, but which may increase or decrease in Phase 2 and subsequently.

Specifically, for the minimum order of [*] systems under Phase 1, the OEM transfer price per system to PKI shall be [*], as long as BDAL is responsible for installation and warranty service.

During Phase 1, and as long as PKI takes delivery of [*] OmniFLEX systems from BDAL per month, PKI's OEM Discount for other MALDI-TOF accessories, consumables and software will be [*] off BDAL's applicable U.S. list price, as it may be in effect from time to time.

All pricing is understood as F.O.B. BDAL's factory in Billerica, USA, and does not include import duty, or any country or local sales tax, VAT, Mehrwertsteuer, or similar.

As part of this Agreement, PKI grants BDAL a [*] OEM discount on digitizers purchased by BDAL from PKI Ortec division on minimum orders of [*] units per order. BDAL forecasts that it will wish to purchase [*] Ortec digitizers in 2000, and [*] Ortec digitizers in the year 2001, but this forecast shall not be contractually binding.


(7) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

13

For each OnmiFLEX system for which PKI provides the warranty service, the OEM Discount is increased to [*](8). For each OmniFLEX system for which PKI performs installation, acceptance and warranty service, the OEM Discount is increased to [*].

The transfer prices above includes Windows-NT workstation (present configuration: 500 MHz Pentium PC, 19" color monitor, 256MB RAM, >8 GB hard disk, 1.44 MB floppy, CDR drive for data archival, Ethernet connection) and a HP 1100xi laser printer. Should PKI decide to supply the Windows-NT workstation and the laser printer, then the transfer price for each OmniFLEX system is reduced by $2,856.00. However, PKI needs to send each Windows-NT workstation to BDAL for complete software loading and systems final test 4-6 weeks prior to the expected factory shipment date.

8. DEVELOPMENT, DEMONSTRATION, TESTING (DDT) DISCOUNT

For OMNIFLEX systems purchased by PKI for internal applications development, or internal customer demonstration purposes, the DDT discount shall be [*] off BDAL's applicable U.S. price list. For Phase 1, the DDT transfer price to PKI is [*]. PKI may not resell any systems purchased under this DDT discount until the earlier of two years after delivery to PKI or the termination or expiration of this Agreement, unless there is an imminent major model change, which would make the DDT systems in PKI's demo inventory obsolete.

9. PAYMENT TERMS

For each ONPULEX system, the payment terms for each OEM system are as follows:


(8) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

14

40% deposit N30 after order placement

30% N30 after delivery

30% N30 upon installation and acceptance

For the first [*](9) units in Phase 1, the 40% cash down payment will be deemed to satisfy the requirement for a 40% deposit and 30% will be due N30 after delivery and 30% will be due N30 upon installation and acceptance. For the remaining [*] units in Phase 1 subject to the letter of credit referred to in
Section 5, 70% will be due N30 after delivery and 30% N30 upon installation and acceptance.

10. WARRANTY AND SERVICE

In Phase 1, the cost of customer site preparation according to BDAL's site planning guide, or rigging and transportation of the system into the PKI or customer lab, and consumables required for the installation, are not included in the BDAL OEM price. If PKI or its customers require additional installations (in addition to the one installation included in the normal transfer price of [*]), then these additional installations will be billed by BDAL to PKJ, or its customer, at normal posted BDAL service rates.

In Phase 1, each system price includes a one-year limited warranty under BDAL's standard warranty terms, a copy of which is attached hereto as Attachment C. The period of warranty is one year following demonstration of specifications, but in any event not more than 13 months after delivery, if the beginning of installation is delayed for no fault of BDAL. If, however, the installation and acceptance of the system by BDAL takes longer than 2 weeks because the OmniFLEX system does not meet its performance


(9) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

15

specifications for reasons other than siting problems, then the one year warranty shall run from acceptance of the instrument.

Warranty covers both parts and labor.

In Phase 2, or whenever PKI is responsible for the warranty service, PKI will supply warranty service labor, be responsible for travel and related costs of its service technicians, etc. However, BDAL provides to PKI a limited 13 months hardware back-up warranty, beginning upon shipment by BDAL to PKI or its customer, for all submits which are not wear-and-tear items or consumables. This BDAL hardware warranty is for parts-exchange or BDAL depot level parts repair service only, and does not cover field service.

After the expiration of the one-year limited warranty (or at any time when PKI needs expert assistance with installations or warranty service for which PKI is responsible per this Agreement) PKI, or the final customer, may purchase additional annual Maintenance Service Agreements (MSA) or per-call service from the BDAL service organization in each country at normal MSA or per-call service rates, posted in each country from time to time. If a customer requires additional response time guarantees, or 24/7 coverage, then surcharges to the normal BDAL MSA rates will apply.

BDAL will sell to PKI any spare parts needed by PKI to service the OmniFLEX system as long as such system is manufactured and for an additional seven (7) years after manufacture of such system is discontinued, or for an additional seven (7) years after the

16

termination of this Agreement, whichever is earlier, at a discount level of
[*](10) off of BDAL's U.S. list price.

11. LICENSING OF BDAL'S MALDI-TOF IP FOR OEM SYSTEMS

With the purchase of each OMNIFLEX system, PKI and its final system's customer receives a paid-up non-exclusive license for each particular OMNIFLEX system to use this particular system under BDAL's intellectual property, including all patents owned by or exclusively licensed by BDAL, for MALDI-TOF mass spectrometry. Specifically, this license includes the Indiana University patent portfolio on SVCF (Space-Velocity Correlation Focussing, by J. Reilly et. al.), and for BDAL OEM MALDI-TOF systems purchased by PKI, the royalty cost to Indiana University will be paid by BDAL. The sublicense agreement in Attachment D, which will be executed simultaneously as a separate agreement, is required for this Agreement to become valid.

Each software package sold from BDAL to PKI comes with a single CPU license which PKI may transfer to the final customer. Details of the software licensing and sublicensing will be subject to BDAL's standard software licensing policy, as it may be in effect from time to time.

12. OVERSIGHT BOARD

BDAL and PKI will each appoint two members to serve on an oversight board ("Oversight Board") with respect to this Agreement. Initially, the representative of BDAL will be Frank H. Laukien and Victor Fursey, and the representatives of PKI will be Dr. Robert Rosenthal and Michael Elliott. The oversight board will meet on a quarterly basis or as otherwise agreed upon by BDAL and PKI to review the progress under the


(10) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

17

Agreement, to review and approve modifications to this Agreement, and attempt in good faith to resolve any disputes that may arise before the arbitration provisions of Section 13.9 are invoked to resolve any dispute. The Oversight Board will also meet, in person or by telephone, to address any issues relating to the interpretation of the field of use language in Section 5 in order to minimize customer confusion and resolve disputes as quickly as possible.

13. GENERAL TERMS AND CONDITIONS

13.1  The terms and conditions of this Agreement are confidential, and any press
      releases will be done by mutual agreement.

13.2  Neither party acquires any intellectual property rights under this
      Agreement except the limited rights necessary to carry out the purposes
      set forth in paragraph 11.

13.3  Both parties shall adhere to all applicable laws, regulations and rules
      relating to the export of technical data and equipment. PKI shall not
      export or re-export any BDAL product or technical data to any proscribed
      country listed in such applicable laws, regulations and rules unless
      properly authorized.

13.4  This Agreement does not create any agency or partnership relationship.

13.5  All additions or modifications to this Agreement must be made in writing
      and must be signed by both parties.

13.6  This Agreement constitutes the entire agreement between the parties with
      respect to the subject matter hereof and it supersedes all prior
      agreements, understandings and negotiations, written or oral, between the
      parties with respect to the subject matter hereof, except for a previously
      signed Confidentiality Agreement. Drafts to

18

      this Agreement were exchanged and drafted by both parties hereto, and
      accordingly this Agreement shall be considered jointly drafted.

13.7  This Agreement is made under, and shall be construed according to, the
      laws of the Commonwealth of Massachusetts.

13.8  Neither party shall be liable to the other party for any special,
      consequential or punitive damages, including, but not limited to, loss of
      profits. The provisions of this section shall survive any termination of
      this Agreement.

13.9  Neither party shall institute a proceeding in any court or administrative
      agency to resolve a dispute between the parties before that party has
      sought to resolve the dispute through direct negotiation with the other
      party using the Oversight Board established in accordance with Section 12.
      If the dispute is not resolved within thirty (30) days after a demand for
      direct negotiation, the aggrieved party may then seek relief through
      arbitration in Boston Massachusetts administered by the American
      Arbitration Association under its commercial arbitration rules before a
      single arbitrator; provided that persons eligible to be selected as the
      arbitrator shall be limited to attorneys-at-law who have practiced law for
      at least 15 years specializing in either general commercial litigation or
      general corporate and commercial matters. The arbitrator shall base his or
      her award on applicable laws and judicial precedent and include in such
      award a statement of the reasons upon which the award is based. Judgement
      on the award rendered by the arbitrator may be entered in any court having
      jurisdiction thereof. Both parties will share the cost of the arbitration
      equally. The arbitrator may not award special, consequential or punitive
      damages.

19

14. NOTICE

All notices and other communications required by this Agreement shall be deemed duly given when deposited in the mail, postage prepaid, registered or certified First Class mail and addressed to the address given below (unless a different address shall have been duly given previously) or sent by telephone facsimile (with receipt confirmed by telephone):

If to BDAL, to:
Bruker Daltonics Inc.
44 Manning Road
Billerica, MA 0 1821
Attention: President
Facsimile No.: (978) 667-0985

If to PKI, to:

PerkinElmer Instruments LLC
761 Main Avenue
Norwalk, Connecticut 06859

Attention: President
Facsimile No.: (203) 761-2800

15. EXCUSABLE DELAYS

Neither party shall be liable in damages for failure to perform under this Agreement due to any causes beyond its control and without its fault or negligence, including, but not restricted to, acts of God, acts of war, governmental acts, fires, floods, epidemics, quarantine restrictions, freight embargoes, strikes, unusually severe weather, or delay of a subcontractor due to such causes (unless the materials, supplies, or services to be furnished under a subcontract are procurable from other sources). In the event that a party discovers any facts which may, or could with the passage of time, result in a delay in performance due to an event beyond its control, that party shall immediately provide written notice to the other party of such facts (including a description of the cause of the delay, an estimate of the duration of the delay and a statement regarding the

20

remedial steps that are being undertaken to resume performance) and shall take all measures and precautions to reduce the effects of the delay on contract performance. The time for performance under this Agreement shall be extended by an amount of time equal to the period of delay; provided, however, that, if the delay lasts more than ninety (90) days, the party whose performance is not delayed shall have the right, but not the obligation, to terminate this Agreement without liability.

16. NAME AND TRADEMARK

16.1. BDAL hereby grants to PKI a royalty-free, non-exclusive license under the BDAL Trademarks, that pertain to the OmniFLEX and its Accessories, to distribute these BDAL products to which any of the BDAL Trademarks have been applied by BDAL; and use any documentation provided by BDAL hereunder. No license is granted to PKI to use the name Bruker Daltonics(R) as, or as part of, a corporate name and/or a trading name.

16.2. PKI hereby grants to BDAL a royalty-free, non-exclusive license under the

      PKI Trademarks, to apply the PKI Trademarks to the co-labeled OmniFLEX
      before supplying them to PKI.

16.3  The BDAL Trademarks and PKI Trademarks shall be applied to the products in
      accordance with such principles as may be agreed between the parties
      regarding the form, location and prominence of such trademark, each such
      trademark to be of equal prominence to each other.

16.4  All rights in the BDAL Trademarks are owned by BDAL, and all rights in the
      PKI Trademarks are owned by PKI. All rights granted pursuant to this
      Section 16 shall

21

terminate upon the expiration or termination of this Agreement. This applies to registered or unregistered trademarks.

17. PATENT INDEMNITY

BDAL shall defend, indemnify and hold PKI harmless from and against all claims, damages, costs (including reasonable attorneys fees), or judgments against PKI in which it is determined or alleged that the sale or the use of any of BDAL product infringes any patent, copyright, trademark or any other intellectual property right of any third party. PKI agrees that BDAL, at its sole option, shall be relieved of the foregoing obligations unless PKI or its customers (i) notifies BDAL promptly in writing of such claim, suit or proceeding, (ii) gives BDAL available information and assistance to settle and/or defend any such claim, suit or proceeding, (iii) gives BDAL authority over the defense or settlement of such claim as contemplated above, and (iv) refrains from settling such claim without BDAL's written consent. If a product (or any part thereof) is, or in the opinion of BDAL, may become, the subject of any claim, suit or proceeding for infringement of any patent, copyright or trademark, or if it is determined that a product (or any part thereof) is infringing and, as a result, its use is enjoined, then BDAL may, at its option and expense: (i) procure for PKI the right under such patent, copyright or trademark to distribute such product (or such part thereof) without prejudice to BDAL's obligations above; or
(ii) replace such product (or part thereof) with other suitable parts; or (iii) suitably modify such product (or part thereof) to make them non-infringing without modifying their capability; or (iv) if the use of a product (or part thereof) is prevented by injunction, remove such product (or part thereof) and refund the aggregate payment paid therefor by

22

PKI less an amount to account for actual use by PKI's customer, as measured over a sixty month (60) month life span.

18. TERMINATION

If either party shall, at any time, commit any material breach of any of the terms or conditions of this Agreement, the non-breaching party shall give notice of the breach to the breaching party. If the breaching party fails to cure the breach within forty-five (45) days of said notice (or such longer period not to exceed ninety (90) days if such breach is incapable of cure within forty-five days, provided that the breaching party continues diligently to cure said breach during such period), the non-breaching party may terminate this Agreement, effective immediately.

In the event that at any time during the term of this Agreement, either party is adjudged insolvent or bankrupt or shall make an assignment for the benefit of its creditors, the other party hereto shall have the right, at its election, to terminate this Agreement effective upon the giving of written notice. In no event shall this Agreement be construed as an asset of the bankrupt party.

Upon termination of this Agreement, PKI shall immediately cease to describe itself as a distributor of products. BDAL shall honor its obligations under this Agreement with respect to orders for products placed prior to the effective date of termination or expiration, and shall fill such orders that are accepted by it prior to the effective date of such termination or expiration.

SIGNATURES:

For PKK:    /s/ Robert Rosenthal                For BDAL:   /s/ Frank H. Laukien
            --------------------                         -----------------------
Name:       Robert Rosenthal                          Name: Frank H. Laukien
            ----------------

23

Title: President & CEO Title: President & CEO Date: March 06, 2000 Date: March 02, 2000

Attachment D:

OEM SUB-LICENSE AGREEMENT

THIS AGREEMENT (the "Agreement") is made and/or entered into by and between Bruker Daltonics Inc. ("Licensor"), a Delaware corporation with its principal place of business at Fortune Drive, Manning Park, Billerica, Massachusetts 0 182 1, and PerkinElmer Instruments LLC ("Licensee") a ______________________ corporation with its principal place of business at 761 Main Avenue, Norwalk, CT 06859.

WHEREAS, Licensor is the exclusive licensee of, having the full right to grant sublicenses to, the Patent Rights, as these are defined with particularity herein; and

WHEREAS, Licensee desires to obtain a license under certain patent rights held by Licensor, as defined with particularity in this Agreement;

NOW, THEREFORE in view of the promises set forth below, the parties hereto agree as follows:

1. Definitions

Solely for the purposes of this Agreement the following terms, as used herein, will have the meanings specified below:

1.1 "Effective Date" means the date last written below.

1.2 "Patent Rights" means those patents and/or patent applications listed on Schedule A and any patents issuing from such patent applications, or any related U.S. or foreign applications or patents based upon any of such patent applications or patents, as well as any continuations, divisions, reexaminations, reissues, substitutes, renewals or extensions of any of the foregoing patent applications or patents.

1.3 "Affiliate" of a specified entity means an entity that directly or indirectly controls, is controlled by, or is under common control with, the specified entity. For purposes of this Agreement, the direct or indirect ownership of more than 50% of the outstanding voting shares of an entity, the right to receive 50% or more of the profits or earnings of an entity, or the right to control policy decisions of an entity, will be deemed to constitute control.

1.4 "Licensed Product" or "Licensed Products" means and includes any apparatus, device, system, product, article of manufacture, appliance, method or process, the practice, manufacture, use or sale of which would

24

be, but for this Agreement, covered in whole or in part by a pending claim in a pending application within the Patent Rights or an unexpired claim in a patent within the Patent Rights.

1.5 "Net Sales" means the gross sales amount of all sales or leases of Licensed Products by Licensee, Affiliates or sublicensees to any distributors and/or customers minus any customary quantity, trade or cash discounts actually given, allowed returns or allowances given in lieu of allowed returns, freight and insurance, if separately itemized on the invoice and paid by the customer, and any value added, sales, use or excise taxes actually included in the invoice amount, provided, however, that no deductions will be taken for any other costs incurred in the manufacture, offering for sale, sale, distribution, shipment, promotion, advertisement, exploitation or commercialization of the Licensed Products, for any costs of collections or any uncollectible accounts, or for any other costs, expenditures, fees or expenses. For all Licensed Products used by Licensee as premiums to promote, market, sell and/or lease products or processes other than Licensed Products such premiums will be deemed to have been sold at Licensee's customary sales price. Licensed Products will be considered "sold" when delivered, billed out, or invoiced, whichever comes first. In the cases of transactions not at "arm's length" and of transactions in which the Licensed Product is exchanged for other than a separate, entirely-money consideration, "Net Wholesale Price" shall mean Fair Market Value.

1.6 "Fair Market Value" as applied to Licensed Products means the Net Sales which the Licensee (or its Affiliate) would realize from an unaffiliated buyer typical of Licensee's (or its Affiliate's) buyers in an arm's length sale of identical apparatus in the same quantity and at the same time and place as such transaction; provided, however, that Fair Market Value shall not be lower than complete cost less the items specified in paragraph 1.5 above to be deducted from Net Sales, to the extent these items are included in such complete cost) plus a normal profit factor.

2. Grant of Special OEM Sub-License

2.1. Licensor hereby grants an individual systems' license to Licensee, with the right to grant sublicenses to its Affiliates, to use and/or to re-sell each MALDI-TOF mass spectrometer purchased by Licensee from Licensor under a separate "MALDI-TOF Mass Spectrometry Collaboration and OEM Agreement" of even date.

2.2. Pursuant to the separate "MALDI-TOF Mass Spectrometry Collaboration and OEM Agreement" Licensor shall be responsible

25

for the payment of all royalties to IU-ARTI on Licensor's MALDI-TOF systems sold as OEM systems to Licensee.

2.3. Any license granted under this Agreement shall not constitute or be interpreted as a license to the Licensee for manufacture, use or sale of any other MALDI-TOF or other mass spectrometer, other than the OEM MALDI-TOF systems specifically purchased from Licensor under the terms of the "MALDI-TOF Mass Spectrometry Collaboration and OEM Agreement". In particular, this Agreement does not waive for the Licensee future access payments, retroactive or future royalty payments on any other MALDI-TOF or other mass spectrometer not specifically covered by this Agreement.

3. Payments/License Fees and Royalties

This section is not applicable, as Licensor pays all royalties to IU-ARTI for OEM MALDI-TOF systems sold to Licensee under the separate "MALDI-TOF Mass Spectrometry Collaboration and OEM Agreement".

26

4. Representation and Warranties

Licensor warrants that, to the best of its knowledge and belief, it is the sole exclusive licensee of all rights, title, and interest in the Patent Rights, free of any liens, encumbrances, restrictions and other legal or equitable claims, subject, however, to any rights of governmental authorities, including full right and authority to sublicense the Patent Rights.

5. Records, Reports, and Payments

5.1        not applicable

5.2        not applicable

5.3        not applicable

5.4        not applicable

6. Term of the Agreement

6.1 Unless sooner canceled or terminated as herein provided, the individual system's license granted under this Agreement will continue for ten (10) years or for the full term of the last expiring patent or patent application within the Patent Rights, whichever is longer.

6.2 If Licensee becomes bankrupt or insolvent, or files a petition in bankruptcy, or if the business of Licensee is placed in the hands of a receiver, assignee or trustee for the benefit of creditors, whether by the voluntary act of Licensee or otherwise, this Agreement will automatically terminate without any notice whatsoever to Licensee.

6.3 not applicable

6.4 Licensee will have the right to terminate this Agreement with or without cause at any time upon six (6) months written notice to Licensor.

6.5 not applicable

6.6 If, at any time during this Agreement, Licensee directly or indirectly opposes or assists any third party to oppose the grant of any Letters Patent on any patent application within the Patent Rights or disputes or directly or indirectly assists any third party to dispute the validity of any patent within the Patent Rights, or any of the claims thereof, Licensor will be entitled thereafter to terminate immediately all or any portion of the license granted under this Agreement by notice thereof to Licensee.

27

6.7 In the event that any claim of any application within the Patent Rights is canceled, abandoned, or otherwise disallowed by a final non-appealable or non-appealed action of a Patent Office having jurisdiction, or in the event that any claim of any patent within the Patent Rights is held invalid or unenforceable by a non-appealable or non-appealed decision by any court of competent jurisdiction, such claim will be deemed to have expired, as of the date of final disallowance or final decision of invalidity or non-enforceability.

6.8 Provisions of this Agreement which by their nature contemplate rights and obligations of the parties to be enjoyed or performed after the expiration or termination of this Agreement will survive until their purposes are fulfilled. Termination of this Agreement for any reason will not relieve either party of its obligations under this Agreement previous to the effective date of such termination.

7. Non-Transferability of Licenses

7.1 The license granted by this Agreement can be transferred by the Licensee, but only as part of a transaction by which the Licensee divests itself of all or substantially all of the business of manufacturing and/or selling Licensed Products. In the event of such a transfer, Licensee and its Affiliates shall thereupon cease to be Licensees hereunder, but such termination of licenses shall not affect any obligations to pay royalties which may have accrued prior thereto.

7.2 Should any entity or person cease to be an Affiliate of a party, as that term is defined in paragraph 1.3 above, this Agreement shall be terminated as to that entity or person, who shall have no further rights or obligations under this Agreement; provided, that such termination of Affiliate status shall not affect any obligations to pay royalties which may have accrued prior thereto.

7.3 The license granted in this Agreement shall be binding upon any successor of Licensor in ownership or control of the Patent Rights, and the obligations of Licensee, including, but not limited to, the obligation to make reports and pay royalties, shall run in favor of any such successor of Licensor's benefits under this Agreement.

8. Payments, Notices and Other Communications

Any payment, notice, or other communication pursuant to this Agreement will be sufficiently made or given on the date of mailing if sent to such party by express mail or certified first class mail, postage prepaid, made out to Bruker Daltonics,

28

Inc. and addressed to it at its address below or made out to Licensee and addressed to it at its address below as either party will designate by written notice given to the other party:

Licensor:   Frank H. Laukien, President
            Bruker Daltonics Inc.
            Fortune Drive, Manning Park
            Billerica, MA 0 1821

Licensee:   Robert Rosenthal, President
            PerkinElmer Instruments LLC.
            ____________________________
            ____________________________

9. Miscellaneous Provisions

9.1 Each party hereto agrees that it will not release any information to any third party with respect to the terms of this Agreement without the prior written consent of the other party. This prohibition includes, but is not limited to, press releases, educational and scientific conferences, promotional materials, governmental filings, and discussions with lenders, investment bankers, public officials, and the media. Should any third party seek to obtain any information by legal process with respect to the existence or terms of this Agreement from either Party hereto, such Party shall promptly notify the other Party hereto, and shall take all appropriate measures to avoid and minimize the release of such information.

9.2 This Agreement will be construed, governed, interpreted, and applied in accordance with the laws of the Commonwealth of Massachusetts, U.S.A., except that questions affecting the construction and effect of any patent will be determined by the law of the country in which the patent was granted.

9.3 In the event of an adjudication to resolve a dispute over the scope to or appropriate royalty payment (if any) under, any of the Patent Rights licensed under this Agreement, the Licensee may place any disputed royalty payments in an interest-bearing escrow account mutually satisfactory to the Licensee and Licensor, rather than paying them to the Licensor, during the pendency of the adjudication. If the determination of the adjudication is that no royalty payment is owed to the Licensor, the escrowed funds, together with any accrued interest, shall be returned to the Licensee. If the determination of the adjudication is that a royalty payment is owed to the Licensor, the escrowed funds, together with any accrued interest, shall be paid to the Licensor.

29

9.4 This Agreement constitutes the entire understanding between the Parties hereto with respect to the subject matter hereof. This Agreement supersedes any prior agreements between the Parties hereto as to the subject matter of this Agreement except as specifically provided herein. No modification, extension or waiver of any provision hereof or any release of any right hereunder shall be valid, unless the same is in writing and is consented to by both Parties hereto.

9.5 The provisions of this Agreement are severable, and if any provision of this Agreement is held to be ineffective, unenforceable or illegal for any reason, such ineffectiveness, unenforceability and/or illegality shall not affect the validity or enforceability of any or all of the remaining portions hereof.

9.6 This Agreement shall be construed in accordance with its fair meaning and not strictly for or against any Party.

9.7 This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original, but both of which together constitute one and the same Agreement.

9.8 Paragraph titles or captions contained herein are inserted only as a matter of convenience and for reference, and in no way define, limit, extend, or describe the scope of this Agreement, nor the intent of any provision thereof.

9.9 Each Party acknowledges that it has or has, had the opportunity to consult with counsel of its choice and that in executing this Agreement it has not relied upon any statements, representations or agreements of any other person other than those contained herein.

9.10 Notwithstanding Paragraph 1.5 above, at anytime prior to the expiration of the patents licensed pursuant to this Agreement, Licensee may challenge in a legal proceeding the validity or enforceability the Patent Rights. Licensor may not use in said legal proceeding this Agreement, the language contained herein or the royalty payments previously made or required to be made by this Agreement as an admission by Licensee that any Patent Rights are valid, enforceable or infringed.

9.11 Licensee agrees to mark the Licensed Products made, used or sold in the United States with all applicable United States patent numbers. All Licensed Products used, shipped to or sold in other countries will be marked in such a manner as to conform with the patent laws and practice of the country of use, shipment, and/or sale.

30

9.12 No failure or delay on the part of either Party hereto in the exercise of any power, right or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privilege.

9.13 Nothing in this Agreement shall be construed as:

(a) a warranty or representation as to the validity, enforceability or scope of any patent by the Licensor;

(b) a warranty or representation that any manufacture, sale, lease, use or importation will be free fi7om infringement of patents other than those under which and to the extent to which licenses or covenants are in force hereunder, including patents of third parties;

(c) an agreement to bring or prosecute actions or suits against third parties for infringement;

(d) conferring any right to use, in advertising, publicity or otherwise, any name, trade name, trademark, service mark, symbol or any other identification or any contraction, abbreviation or simulation thereof,

(e) conferring by implication, estoppel or otherwise any license or other right under any patent, except as expressly granted herein;

(f) a representation or warranty of any kind or the assumption of any responsibility whatsoever by any Party with respect to the manufacture, sale, lease, use or other disposition of any product or method licensed hereunder (including without limitation, claims of third parties asserting that a product is defective or unsafe for its intended purpose); and

(g) a representation deemed to place Licensee and Licensor in a partnership, joint venture or agency relationship and neither party will have the right or authority to obligate or bind the other party in any manner.

9.14 All notices and communications provided for hereunder shall be in writing and shall be mailed or delivered to the business address of the respective Parties as aforementioned, or to such other address as any Party may designate from time to time in writing to the other.

31

9.15 Each of the Parties agrees to perform reasonably requested actions of the other Party which are required to effectuate the covenants and purposes of this Agreement.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals and duly executed this Agreement as of the day and year set forth below.

      Licensee                                            Licensor

BY:   /s/  Robert Rosenthal                     BY:   /s/  Frank H. Laukien
      ---------------------                           ---------------------
      Robert Rosenthal                                Frank H. Laukien
      President & CEO                                 President & CEO
      PerkinElmer Instruments LLC                     Bruker Daltonics Inc.

DATE: March 06, 2000                            DATE: March 02, 2000

32

SCHEDULE A

--------------------------------------------------------------------------------
  US Pat. No.   Inventor                           Title
  -----------   --------                           -----
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
  5,504,326     James P. Reilly   Spatial-Velocity Correlation Focusing
                Steven M. Colby   in Time-of-Flight Mass Spectrometry
                Timothy B. King
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
  5,510,613     James P. Reilly   Spatial-Velocity Correlation Focusing
                Steven M. Colby   in Time-of-Flight Mass Spectrometry
                Timothy B. King
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
  5,712,479     James P. Reilly   Spatial-Velocity Correlation Focusing
                Steven M. Colby   in Time-of-Flight Mass Spectrometry
                Timothy B. King
--------------------------------------------------------------------------------


33

Exhibit 10.4

/logo/
MWGAG
BIOTECH
Today for Tomorrow

Agreement concerning the Cooperation of

Bruker Daltonik GmbH

and

MWG-Biotech AG

Objective

MWG-Biotech AG (MWG) and Bruker Daltonik GmbH and their Bruker branches (Bruker) are contemplating entering into commercial and technical cooperation in the field of DNA research through SNP analysis, as well as other potential molecular biology areas of application by means of MALDI-TOF mass spectrometry.

Validity

As soon as this agreement is signed by both sides, it shall be valid at least until December 31, 2002. It shall be extended by two years upon submission of the signed agreement of both sides.

Product definition, development objective, and periods of time

The following products are to be developed or further developed in combination, and thereafter jointly marketed, as a solution for the field of low and medium daily sample throughput:

o Bruker: The Bruker MALDI-TOF mass spectrometer BIFLEX III in a linear configuration having the specifications listed in Appendix I. Development objective: [*](1) Timeframe: [*]

/letterhead information/


(1) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

MWG AG Biotech Today for Tomorrow

o MWG: provision of equipment for the primer extension reaction and sample preparation robotics having the following tasks:

o Sample preparation robot having a throughput of up to 1,000 samples per day. Time frame: [*](2)

o Sample preparation robot having a throughput of up to 10,000 samples per day. Time frame: [*]

Both products shall serve, among other things, for the following applications:

o For use with the "Bruker Magnetic Bead DNA Purification Kit"

o For use with the "Ivo Gut Alkylation Method".

Marketing

Products affected by this agreement shall be deemed OEM products. MWG and Bruker are free to offer solutions derived from these products competitively or jointly.

OEM price structure

The following OEM price structure with calendar-year OEM discount rates relative to the list price (Appendix 1) will be used as the basis for future product orders:

Bruker Biflex III MALDI-TOF MS:
           Number per year                        OEM discount
                 #10                                  [*]
                11-20                                 [*]
                 21+                                  [*]

The OEM discount rate will be applied retroactively.


(2) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

MWG AG Biotech Today for Tomorrow

For equipment used for its own research or for demonstration purposes, the discount rate shall increase to [*](3).

MWG:

OEM price structure

Bruker Daltonik GmbH shall receive a [*] OEM discount for the MWG sample preparation robots. The price for the high throughput robot for up to 10,000 samples per day will be determined as of March 2000. The price for a demonstration device shall be [*] of our list price.

If sales are made through joint appearances and efforts, prices will be negotiated on a case-by-case basis.

All prices are ex works, exclusive of customs duty, value-added tax, sales tax on imports, and similar taxes.

Protection of patronage

In a competitive situation, as soon as one of the parties to the agreement is able to confirm in writing (letter, fax, e-mail, etc.) the buying intention of a customer or the impending purchase by a customer, the sale shall be protected for that party for a period of 12 months.

This protection shall not apply if the other party to the agreement can provide suitable documentation, within one week of disclosure of the case, proving that the sale came about through its own efforts.

Installation, maintenance, and service

Bruker is responsible for installation, guarantees, and additional services for the Bruker Biflex III.

The purchase of a Bruker Biflex III includes equipment installation and a demonstration of specifications. These services are included in the purchase price.


(3) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

MWG AG Biotech Today for Tomorrow

The customer must prepare the installation area in accordance with Appendix 2. Expenses relating thereto, as well as other expendable materials required for the installation, are not included in the purchase price.
Additional installations and services resulting therefrom, if required, shall be settled with MWG at the usual Bruker computation rates. The guarantee period shall be one year from the demonstration of the specifications, but not more than 15 months after delivery.

MWG:
Installation, maintenance, and service
Services shall remain the same for the MWG sample preparation robots.

Purchasing lead-times and sales projections The purchasing lead-time for a Bruker Biflex III is three months. To shorten this purchasing lead-time, MWG shall issue semi-annual sales projections at least three months prior to the end of the previous half. These projections shall be reviewed and corrected, if necessary, 30 days prior to the end of the previous half. Additionally, Bruker will deliver the equipment in a timely manner. If this planning aid proves not to be useful, with MWG taking delivery of less than 75% of the projected Bruker Biflex III devices, it will be suspended and replaced with the usual purchasing lead-time of three months.

MWG:
Purchasing lead-times and sales projections The purchasing lead-times shall be a maximum of 30 days after receipt of a new order.


MWG AG Biotech Today for Tomorrow

Terms of payment

The following terms of payment shall apply for each Bruker Biflex III ordered:
40% 30 days net after receipt of the customer order 40% 30 days net after delivery
20% 30 days net after installation and acceptance of the specifications.

MWG:

Terms of payment

30 days net after delivery.

Protection and utilization of intellectual property in joint developments

For future developments, whether performed jointly, financed jointly, or merely arising through the exchange of confidential information, MWG and Bruker each undertake to maintain silence with respect to third parties and to protect the intellectual property and business information of the other party to the agreement.

A decision will be made on a case-by-case basis with regard to utilization and financial recognition of joint developments.

Contact individuals

MWG and Bruker shall each appoint two contact individuals who shall serve as the interface between the two companies for commercial and technical matters, respectively, and who shall monitor compliance with this agreement:

For MWG:
      Commercial matters:     Helmut Pende, MWG-Biotech AG, Ebersberg
      Technical matters:      Dr. Jutta Huber, MWG-Biotech AG, Ebersberg

                                                                  MWG AG Biotech
                                                              Today for Tomorrow

For Bruker:

Commercial matters:
Dr. Roland Schnurpfeil, Bruker Daltonik GmbH, Bremen, Technical matters:
Dr. Markus Kostrzewa, Bruker Saxonia Analytik GmbH, Leipzig

This agreement enters into force when it is signed:

Bremen, November 15, 1998                 Ebersberg, November 2, 1999
Bruker Daltonik GmbH                      MWG-Biotech AG

/corporate address stamp/                 /corporate address stamp/

Name: Dr. Franzen    Dr. Koch             Name: Michael Weichselgartner
Title:  General Managers                  Title: CEO
/signatures/                              /signature/

                                                                  MWG AG Biotech
                                                              Today for Tomorrow

                                   Price List
                                   RoboAmp(R)

RoboAmp(R)4200 basic platforms                                                                   DM
RY-4200 M     Robot for the automation of Non Cross Contamination (NCC) PCR                      147.500,00
              and loading of MALDI samples
              including: 1 washable tip assembly for sample distribution, handler
                       for positioning of microplates
                       96 well HTR thermocycler with motorized lid
                       Disposable tip assembly for sample distribution
                       Air waste chassis and electronic chassis
                       Automated tube/well sealing device
                       Power Supply
                       RoboSeq sample management and application software
                       MWG analysis and control unit
                       Reagent rack, cooled
                       Sample position for 2 plates, non cooled
                       Pipetting positions, cooled for 2 microplates (1 cooled/1 non cooled)
                       Stacker for 8 microtitre plates
                       Disposable tip rack for 8 x 96 tips
                       Module for loading of MALDI carriers in 96 and 384 well format

Accessories

Reagent Rack
RY-RC         Reagent rack, cooled                                                                 8.150,00
RY-RN         Reagent rack, non cooled                                                             3.050,00
RY-RS         Reagent rack, small non cooled                                                       1.150,00
Sample Position
RY-SPT        Tube rack, 96 positions, 1.5 ml, non cooled                                          1.450,00
RY-SPTC       Tube rack, 96 positions 1.5 ml, cooled                                               6.920,00
RY-SPC        Sample position for 2 plates/1 cooled/1 non cooled                                   6.450,00
RY-SPN        Sample position for 2 plates, non cooled                                             1.560,00
RY-SPS        Sample position for 2 microtitre plates                                                820,00

Pipetting Position
RY-PPC        Pipetting positions for 2 plates, 1 cooled/1 non cooled                              6.450,00
RY-PPC384     Pipetting positions for 2 plates, 384 well, 1 cooled/1 non cooled                    7.950,00
RY-PPN        Pipetting positions for 2 plates, non cooled                                         1.560,00
RY-PPN384     Pipetting positions for 2 plates, 384 well, non cooled                               1.950,00
PRY-PPS       Pipetting positions for 2 microtitre plates, non cooled                                820,00

RY-ST4        Stacker for 4 microtitre plates                                                      1.850,00
RY-ST8        Stacker for 8 microtitre plates                                                      2,450,00
RY-ST12       Stacker for 12 microtitre plates                                                     2.950,00
RY-STC10      Stacker for 10 microtitre plates, cooled effective 01.12.99                          9.950,00

Shaker
RY-3-1410     Shaker, 1 microtitre plate                                                           3.200,00

Disposable Tip Rack
RY-TR2        Disposable tip rack for 2 x 96 tips                                                  1.150,00
RY-TR4        Disposable tip rack for 4 x 96 tips                                                  2.050,00
RY-TR6        Disposable tip rack for 6 x 96 tips                                                  2.950,00
RY-TR8        Disposable tip rack for 8 x 96 tips                                                  3.850,00


MWG AG Biotech Today for Tomorrow

Automated Agarose Gel Loading (requires RY-WTA)
RY-GLS        Holding & Loading Devices for agarose gels                                             960,00
HB-0708       Gel tray 96 Complete, 12 x 8 + 1 tooth combs                                         1.250,00

Bar Code Option
RY-BCR        Bar code reader                                                                        780,00
RY-BCP        Bar code printer                                                                     3.060,00
RY-MPS        Multiport seriell, PC Interface card                                                   840,00

Tip assembly
RY-WTA        Washable tip assembly for sample distribution                                          375,00
RY-DTA        Disposable tip assembly for sample distribution                                        375,00

Liquid Container
RY-SLC        System liquid container, 5l                                                            210,00
RY-WC         Waste container, 20l                                                                   245,00

Training
RY-EKR        Training course, en Ebersberg, 2 days                                                1.500,00

Service kits & contracts
RY-1-2001     Service kit                                                                        on request
RY-1-2002     Liquid handling kit                                                                on request
S-10040       Service contract RoboAmp(R)4200                                                     19.900,00

Prices are net prices ex VAT and shipping costs. Prices become valid on
01.11.99. Prices are subject to change without notice.


MWG AG Biotech Today for Tomorrow

Appendix 1

BIFLEX(TM) III RESEARCH-GRADE MALDI-TOF MS SYSTEM

BIFLEX(TM) III Matrix-Assisted LASER Desorption Mass Spectrometer

Time-of-flight mass analyzer

o 125 cm linear TOF analyzer for both positive and negative ions
o High sensitivity fast MCP detector system with detector housing
o Ion flight path housing o Integrated vacuum system, electronics and computer desk
o Ultra-Stable power supplies for TOF analyzer, detector and ion source

Gridless MALDI source with Pulsed Ion Extraction (PIE(TM))

o Ion source and ion lens system
o Automatic vacuum lock for sample introduction with inlet vacuum pump
o N2-LASER including variable power attenuator and UV optics
o SCOUT(TM)384 Microtitre Plate Source/Target with Observation Optics
o Large area target (12cm x 8cm) with exact dimensions of microtitre plate
o Precise X-Y positions (4 micron step increments)
o 2 exchangeable targets (384-position standard)
o 1 adaptor target for up to 12 inserts provided with 25 assorted inserts
(10 position)
o High resolution magnifying observation optics with display on 14" color monitor
o Intuitive GUI for simple mouse controlled X-Y positioning

Pumping system including vacuum measurement and control unit

o 260 l/sec turbomolecular pump including forepump
o Vacuum measurement system and control unit

Data System and Software

o 2 GHz Digitizer
o Sun SPARCUltra 5, 19" color monitor, 128MB RAM, 4.3 Gbyte IDE disk, 1.44 MB floppy drive, CD-ROM drive, EtherNet connection for external networks
o Mass spectrometry software for acquisition (XACQ(TM)), processing (XMASS(TM)), plotting, and analysis in a networked multi-user environment
o AutoXecute with fuzzy-logic optimization for automated acquisition
o Postscript printer
o DAT tape drive for backup

BASIC SYSTEM PRICE DEM 337.000,-


MWG AG Biotech Today for Tomorrow

Appendix 2

BIFLEX(TM) Facilities Information

Warning: Read SAFETY PRECAUTIONS on page 2

Preface

BIFLEX(TM) is a high performance, bench-integrated MALD-TOF mass spectrometer system. All components of hardware and associated control electronics are mounted in a laboratory "desk-style" bench which is approximately 1.9m long and 0.905 m deep. Two backing pumps are mounted in a small box situated underneath the bench. Even the control computer can be mounted on top of the system, thus not adding to the footprint. This document details the required system facilities.

Instrument Preparation

On system arrival the crate should be opened to check for shipping damages or shortages, and the crate should be moved to a position adjacent to the final site of installation. A mechanical means of transportation should be made available for the installation engineer to manoevre the system out of the crate and to its final installation position.

Site Consideration

1. Physical Requirements:

Please refer to the attached instrument floor plan for details of the required floor and height space recommended. It is possible to fit the system into a smaller space with only around 0.2m clearance around three sides of the bench, but should access be required for service, preventative maintenance etc. then the "recommended" clearances come into play. Note that for door access the system's narrowest dimension is 0.905 m. If the door is smaller, call Bruker.

2. Power Requirements:

The system is supplied requiring 230V AC power (50/60 Hz) single phase with a single 16A outlet (German: Schukostecker). The computer system can be operated with 110-240V AC at 50/60 Hz either on separate outlets or can be connected through the main internal BIFLEX power distribution system. The system's average power consumption is 1.5kW. There may be an initial surge slightly greater than this on powering up the vacuum system. A stable voltage supply is required and use of appropriate line conditioners, (or uninterruptable power supply, if required) is recommended to ensure its integrity.

Note: Even short occasional power failures will require a lengthy vacuum pump down and the customer is responsible for providing stable, uninterrupted power.

3. Pressurized Air:


MWG AG Biotech Today for Tomorrow

No pressurized air is required for this system.

4. Cooling Water:

No cooling water or closed cycle cooling unit is required for this system.

5. Rough Pump Outlet:

For the outlet of the rough pumps you either need an oil mist filter, or you have to lead it to the outside or into your exhaust air system. Tubing: 9mm inner diameter, 12 mm outer diameter, 5m delivered with the instrument.

6. System Weight:

The entire system with pumps and computer data system included is approximately 250Kg.

7. Environment:

The system should be located in a clean, reasonably vibration free and temperature controlled environment for maintaining optimum performance. No special humidity control is required but the temperature limits are 15(degree)C to 27(degree)C (optimum of 20(degree)C) and in a range of 20 - 80% relative humidity.

8. Electrical Safety Codes:

The instrument will meet all applicable safety codes before shipment.

9. Safety Precautions:

The Nitrogen laser emits high intensity radiation at 337nm, 200uJ. The class IIIB laser radiation emitted is invisible to the eye but can cause damage to it. To safeguard the user the BIFLEX(TM) is equipped with safety features which prevent operation of the laser when the instrument covers are open. Thus during standard operation (all covers closed), no laser radiation can be transmitted outside the spectrometer (i.e. then the system is Class 1). Bruker does not recommend disabling any of the safety features, by anyone than a trained Bruker service engineer, or running the system with covers removed.

The spectrometer operation involves uses of high voltages. All access to wiring and feedthroughs is restricted behind safety panels. Bruker does not assume responsibility for any injury incurred as a result of disabling the safety interlocks. We do not guarantee optimum performance of the instrument when operating under non-standard conditions. Bruker does not recommend disabling the safety features and any user that does so proceeds at their own risk.


MWG AG Biotech Today for Tomorrow

BIFLEX(TM) III dimensions and floor plan:

[diagram]


ACKNOWLEDGMENT OF TRANSLATION
April 13, 2000

The undersigned officer of the Registrant hereby acknowledges on behalf of the Registrant that the foregoing translation of the Cooperation Agreement dated November 15, 1999 between Bruker Daltonik GmbH and MWG-Biotech AG is a fair and accurate English translation from German of the original executed agreement.

BRUKER DALTONICS INC.

By:    /s/  David E. Plunkett
   --------------------------------
Name:  David E. Plunkett

Title: Treasurer


Exhibit 10.5

AGREEMENT

THIS AGREEMENT (the "Agreement") is made and/or entered into by and between Indiana University's Advanced Research & Technology Institute ("IU-ARTI"), a nonprofit corporation organized under the laws of the state of Indiana, having offices at 501 North Morton Street, Suite 111, Bloomington, Indiana 47404, and Bruker Daltonics, Inc. ("Bruker"), a Massachusetts corporation with its principal place of business at Fortune Drive, Manning Park, Billerica, Massachusetts 01821.

NOW THEREFORE in view of the promises set forth below, the parties hereto agree as follows:

1. Definitions.

For all purposes of this Agreement the following terms, as used herein, will have the meanings specified below:

1.1 "Effective Date" means the date last written below.

1.2 The "Invention" means all inventions, proprietary developments, data and/or information owned as of the Effective Date by IU-ARTI relating to Method and Apparatus Providing Improved Time-of-Flight Mass Spectrometer Resolution, Invention Number 9404, created by James P. Reilly, Steven M. Colby, and Timothy B. King (hereinafter the "Inventors"), as described in the patent application(s) and/or patent(s) listed in Schedule A, as well as any continuations, divisions, reexaminations, reissues, substitutes, renewals or extensions of any of the foregoing patent applications or patents.

1.3 "Affiliate" of a specified entity means an entity that directly or indirectly controls, is controlled by, or is under common control with, the specified entity. For purposes of this Agreement, the direct or indirect ownership of more than 50% of the outstanding voting shares of an entity, the right to receive 50% or more of the profits or earnings of an entity, or the right to control policy decisions of an entity, will be deemed to constitute control.

1.4 "Patent Rights" means those patents and/or patent applications listed on Schedule A and any patents issuing from such patent applications, or any related U.S. or foreign applications or patents based upon any of such patent applications or patents, as well as any continuations, divisions, reexaminations, reissues, substitutes, renewals or extensions of any of the foregoing patent applications or patents.

1.5 "Licensed Products" means any apparatus, device, system, product, article, appliance, method or process covered in whole or in part by a pending claim in a pending application within the Patient Rights or an unexpired claim in a patent within the Patent Rights.

1

1.6 "Net Sales" means the gross sales amount of all sales or leases of Licensed Products by Bruker, Affiliates or sublicensees to any customer minus any customary quantity, trade or cash discounts actually given, allowed returns or allowances given in lieu of allowed returns, freight and insurance, if separately itemized on the invoice and paid by the customer, and any value added, sales, use or excise taxes actually included in the invoice amount, provided, however, that no deductions will be taken for any other costs incurred in the manufacture, offering for sale, sale, distribution, shipment, promotion, advertisement, exploitation or commercialization of the Licensed Products, for any costs of collections or any uncollectible accounts, or for any other costs, expenditures, fees or expenses. For all Licensed Products used by Bruker as premiums to promote, market, sell and/or lease products or processes other than Licensed Products, such premiums will be deemed to have been sold at Bruker's customary sales price. Such premiums do not include systems used solely for demonstration or for in-house research and development purposes by Bruker. Licensed Products will be considered "sold" when delivered, billed out, or invoiced, whichever comes first.

1.7 "Due Diligence" means the process whereby Bruker has the opportunity to inspect and review all IU-ARTI and Inventors' files pertaining to the Invention and Patent Rights.

2. Grant of License

2.1 IU-ARTI grants to Bruker a royalty-bearing exclusive license to make, have made, use, lease, and sell the Licensed Products, and practice, sublicense or otherwise enforce the Patent Rights, subject only, however, to a reservation of rights by IU-ARTI for itself and Indiana University to make, have made and use the Licensed Products or otherwise exploit the Patent Rights for research and educational purposes.

2.2 Bruker acknowledges that the United States Government retains certain rights in the inventions funded in whole or in part under any contract, grant or similar agreement with a Federal agency. The License granted under this Section 2 is expressly subject to any such rights.

2.3 Bruker grants to IU-ARTI and Indiana University a non-exclusive, non-transferable royalty-free license, for research and educational purposes only, to any improvements to the Invention developed by Bruker.

2.4 The scope of this Agreement will cover the Invention, Patent Rights and Licensed Products and any patent that will issue claiming the benefit of priority from the Patent Rights, or a priority date before the effective date of the Agreement, in so far as the priority date pertains to technology related to the subject matter of the Patent Rights, and any invention in the field of laser time-of-flight mass spectrometry relating to both instrumentation development and application development that may have been conceived by the Inventors before the Effective Date of this Agreement. This Agreement specifically excludes the work embodied in IU-ARTI Invention Number 9737, "Hybrid

2

Ion Mobility and Mass Spectrometer," and other such investigations outside James P. Reilly's research group ("Reilly Group").

3. Payments/License Fees and Royalties.

3.1 Bruker agrees to provide IU-ARTI with a state of the art linear and reflectron REFLEX II Matrix Assisted Laser Desorption Ionization Time-of-Flight ("MALDI-TOF) Mass Spectrometer (valued at $280,000) in support of the research support/collaboration effort as set forth in
Section 10.

3.2 Bruker agrees to pay to IU-ARTI a one-time payment of [*](1) as a non-refundable license fee that will be deemed to forgive any past royalties that may be due, if there are any, to be paid in the following installments:

3.2.1 a one-time payment of [*] due upon execution of this Agreement, and

3.2.2 a one-time payment of [*], due upon the expiration of ninety
(90) days after the Effective Date of this Agreement, whichever is shorter;

[*] of the non-refundable license fee will be considered an advance creditable toward future royalties due under 3.3.1, provided, that the credit may be applied to only fifty percent (50%) of the total due in any one period; and that no other credits or reductions may be applied.

3.3 Bruker agrees to pay to IU-ARTI within sixty (60) days after the end of each semi-annual calendar year of this Agreement (i.e., period ending June 30 and December 31) the following:

3.3.1 for Licensed Products made, and or sold within the United States, an earned royalty of [*] of Bruker's or its Affiliates' Net Sales (Bruker's royalty rate is discounted in consideration for its many obligations under this Agreement); and

3.3.2 for Licensed Products manufactured here in the United States and sold abroad for use in a foreign country, an earned royalty of [*] less than the amount specified in Section 3.3.1 above, as an incentive to make products in the United States.

3.4 After Bruker has secured the first two (2) sublicensees for IU-ARTI in accordance with the terms of Section 4 below, the earned royalty of [*] in
Section 3.3.1 will be adjusted, either up or down, [*] the average ongoing royalty rate of the sublicensees. The adjustment of this section will be recalculated once every calendar year, at the beginning of the calendar year, incorporating all sublicensees then in effect.


(1) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

3

4. Sublicenses.

4.1 Bruker will use reasonably diligent efforts, in accordance with
Section 5, to sublicense the Patent Rights, and if they are unable to sublicense the Patent Rights, to otherwise enforce the Patent Rights, in accordance with Section 9. As long as Bruker continues to sublicense or otherwise enforce the Patent Rights in such reasonably diligent manner, then the exclusive license of this Agreement will remain exclusive. If, however, at any time, Bruker provides IU-ARTI with written notice of its decision to discontinue sublicensing, and or otherwise enforcing the Patent Rights in accordance with this Agreement, then the exclusive license of this Agreement will revert to a non-exclusive license ninety
(90) days after receipt of such notice by IU-ARTI.

4.2 Bruker will have the exclusive right to grant sublicenses to others for the Patent Rights. Bruker will provide IU-ARTI with a complete copy of each sublicense granted hereunder within sixty (60) days of execution of each sublicense.

4.3 For any sublicenses granted by Bruker hereunder, Bruker will attempt to collect up-front licensing fees from all sublicensees and will pay to IU-ARTI, for any third-party up-front licensing fee ("third-party fees") received without governmental intervention, [*] of such third-party fees received, but after an aggregate of [*] in third-party fees has been received, IU-ARTI and Bruker will split all additional third-party fees in
[*] shares each to IU-ARTI and Bruker. Third-party fees include up-front payments, payments for past damages and license access fees, milestones, and other financial consideration but not advances of future royalties.

4.4 For any sublicenses granted by Bruker hereunder, Bruker will pay to IU-ARTI, with respect to third-party earned royalties based on sublicensee Net Sales, or royalties paid in advance that are received without governmental intervention, [*] of such third-party earned royalties received, but whereupon an aggregate of [*] in third-party earned royalties has been received from third-party royalties, IU-ARTI and Bruker will split all additional third-party earned royalties in [*] shares each to IU-ARTI and Bruker.

4.5 Bruker will not conclude a sublicense under which the earned royalties payable by a sublicensee are less than [*](2) of such sublicensee's Net Sales without the written consent of IU-ARTI. Bruker will not conclude a sublicense under which the Patent Rights are cross-licensed to a sublicensee or otherwise sublicensed or exchanged for non-financial consideration without the written consent of IU-ARTI.

4.6 Termination of the license granted to Bruker by IU-ARTI under this Agreement will terminate all sublicenses that may have been granted by Bruker. Any sublicense granted by Bruker must contain corresponding provisions relative to termination and the conditions of continuance of any sublicenses.


(2) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

4

5. Best Efforts and Due Diligence.

5.1 Bruker will use reasonably diligent efforts to bring the Licensed Products to market through a program of developing, marketing, sublicensing, commercializing, or otherwise enforcing the Patent Rights.

5.2 Bruker will prepare and submit to IU-ARTI within sixty (60) days of the completion of Due Diligence or upon the expiration of one hundred fifty (150) days after the Effective Date of this Agreement, whichever is shorter, a commercially reasonable development plan for the development, marketing, sublicensing, and enforcement of the Patent Rights ("sublicensing and commercialization plan"), which will become a part of this Agreement.

5.3 Bruker will provide IU-ARTI with semi-annual reports of its activities under the sublicensing and commercialization plan occurring during each semi-annual period, due in accordance with Section 7.1, and its projected activities under the sublicensing and commercialization plan for the next semi-annual period. If the activities reported are substantially inadequate compared to plans submitted earlier under Section 5.2, given reasonable industry and commercialization standards, IU-ARTI will so notify Bruker. If, within six (6) months of said notification, Bruker has not rectified the deficiencies so identified, such deficiencies will constitute a material breach of this Agreement.

6. Warranty.

6.1 IU-ARTI warrants that, to the best of its knowledge and belief, it is the owner of all rights, title, and interest in the Patent Rights, free of any liens, encumbrances, restrictions and other legal or equitable claims, subject, however, to any rights of governmental authorities.

6.2 All property, whether tangible or intangible, which may be delivered hereunder, will be delivered on an "as is, where is" basis without any express or implied warranty. Other than the obligations of IU-ARTI set forth in this Agreement, IU-ARTI MAKES NO OTHER WARRANTIES WHATSOEVER.
IU-ARTI HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR ANY IMPLIED WARRANTIES ARISING FROM ANY COURSE OF DEALING, USAGE, OR TRADE PRACTICE. IU-ARTI ASSUMES NO RESPONSIBILITY WITH RESPECT TO THE EXPLOITATION OR COMMERCIALIZATION OF THE LICENSED PRODUCTS, INVENTION, OR PATENT RIGHTS OR THE MANUFACTURE, USE, SALE, LEASE OR DISTRIBUTION OF ANY METHODS, PROCESSES, APPARATUS, DEVICES, SYSTEMS, PRODUCTS, ARTICLES, AND/OR APPLIANCES DERIVED FROM OR USING THE LICENSED PRODUCTS, INVENTION, OR PATENT RIGHTS BY BRUKER, ITS AFFILIATES, OR SUBLICENSEES. IU-ARTI WILL

5

NOT BE LIABLE FOR LOSS OF PROFITS, LOSS OF USE, OR ANY OTHER DIRECT,
INCIDENTAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES.

7. Records, Reports, and Payments.

7.1 Bruker will render to IU-ARTI semi-annual written reports for each semi-annual calendar year period, due within sixty (60) days following each semi-annual period, during the term of the license under this Agreement, setting forth an accounting for all Licensed Products sold, distributed, or leased, and a calculation of total Net Sales for such semi-annual period including a reporting of any applicable deductions, allowances, and charges as provided in Section 1.6 of this Agreement. Concurrent with the making of the report under this Section 7.1, Bruker will include payment due and will submit the sublicensing and commercialization plan report require in accordance with Section 5.3. Bruker will require its sublicensees to render these same written reports to Bruker and will provide IU-ARTI with such reports within 15 days of receipt by Bruker and such reports will be accompanied by applicable payment to IU-ARTI by Bruker for each sublicensee.

7.2 Bruker will keep and maintain and will require any of its sublicensees to keep and maintain, complete, accurate, and correct records and books relating to the sale or lease of the Licensed Products for three (3) years following the end of the calendar year to which such records and books pertain.

7.3 The books and records of account kept by Bruker and any of its sublicensees, must be made available upon reasonable notice during normal business hours for examination by one or more auditors of IU-ARTI's choosing and at IU-ARTI's expense, who will be permitted to enter upon the premises of Bruker or its sublicensees and make and retain copies of any and all parts of said books and records of account, including invoices that are relevant to any report required to be rendered under this Agreement. Any amount found to have been owed but not paid, will be paid promptly to IU-ARTI with interest at the maximum rate allowable by Indiana Usury Law. If, in the event any such audit shows that Bruker has underpaid its royalty obligation hereunder by fifteen percent (15%) or more during any calendar year, Bruker will pay IU-ARTI the amount of such underpayment and Bruker will reimburse IU-ARTI for the out-of-pocket expense for such audit. If, in the event any such audit shows that any sublicensee has underpaid its royalty obligation hereunder by fifteen percent (15%) or more during any calendar year, Bruker will require its sublicensee to pay IU-ARTI the amount of such underpayment and will reimburse IU-ARTI for the out-of-pocket expense for such audit.

7.4 Royalty or other payments to be paid in cash will be paid in United States dollars in accordance with Section 16, or at such other place as IU-ARTI may reasonably designate and will be made within sixty (60) days following each semi-annual reporting period listed in Section 7.1. Any withholding taxes which Bruker is required by law to withhold on remittance of the royalty payments will be deducted from the royalty paid and Bruker will furnish IU-ARTI with copies of all official receipts for such taxes. If any royalties hereunder are based on Net Sales converted from foreign currency, such

6

conversion will be made by using the exchange rate prevailing at a first-class foreign exchange bank on the last business day of the semi-annual reporting period listed in Section 7.1 to which such royalty payments relate. Late payment will bear interest at the maximum rate allowable by Indiana Usury Law.

8. Patent Prosecution

8.1 The filing, prosecution, and maintenance of all patents within the Patent Rights will be the primary responsibility of IU-ARTI provided, however, that Bruker will have reasonable opportunities to advise and cooperate with IU-ARTI in such filing, prosecution and/or maintenance.

8.2 Within ninety (90) days of presentation of itemized statements to Bruker, Bruker will reimburse IU-ARTI for all reasonable fees and costs incurred by IU-ARTI during the term of this Agreement relating to the preparation, filing, prosecution, and maintenance of the Patent Rights.

8.3 In the event Bruker determines that the continued filing, prosecution or maintenance of any particular patent application or patent within the Patent Rights is not justified, it will advise IU-ARTI in writing and IU-ARTI will then have the option to file, prosecute or maintain any such Patent Rights at its own expense, and IU-ARTI will have the option to delete the particular patent application or patent within the Patent Rights from the license granted under this Agreement. In that event, Bruker will have no rights under this license for any such deleted patent application or patent and IU-ARTI will be free to exploit and to assign or license any such deleted patent applications or patents to third parties without effect on the amount of royalties due to IU-ARTI under Section 3.1.

8.4 In the event that any claim of any application within the Patent Rights is canceled, abandoned, or otherwise disallowed by a final non-appealable or non-appealed action of a Patent Office having jurisdiction, or in the event that any claim of any patent within the Patent Rights is held invalid or unenforceable by a non-appealable or non-appealed decision by any court of competent jurisdiction, such claim will be deemed to have expired, as of the date of final disallowance or final decision of invalidity or non-enforceability.

9. Infringement

9.1 Each party will promptly inform the other in writing of any alleged infringement of any of the patents within the Patent Rights, and provide the other party with any available evidence of infringement.

9.2 During the term of this Agreement, Bruker will have the first option to prosecute, at its own expense, any such infringements of the Patent Rights and, in furtherance of such prosecution, Bruker may, for such purposes, join IU-ARTI as a party plaintiff or use the name of IU-ARTI as a party plaintiff, without expense to IU-ARTI. In the event that litigation or other governmental proceedings are required in the conduct of the patent

7

enforcement or defense, Bruker shall be entitled to recover its reasonable enforcement or defense costs, including reasonable attorneys' fees, on a matter-by-matter basis, from any judgment, settlement, or the like, the payment of which is dispositive of the governmental proceeding. Such costs incurred by Bruker shall be recovered from the first one-half (1/2) of the total recoveries from the litigation or other governmental proceeding, with the remainder of this first one-half of recoveries being divided in fifty percent (50%) shares between IU-ARTI and Bruker. The second one-half (1/2) of the total recoveries from the litigation or other governmental proceeding will be divided in fifty percent (50%) shares between IU-ARTI and Bruker.

9.3 If, within six (6) months after having been notified of any alleged infringement, Bruker will have been unsuccessful in persuading the alleged infringer to desist, and will not have brought or be diligently prosecuting an infringement action, or if Bruker will notify IU-ARTI at any time prior thereto of its intention not to bring suit against any alleged infringer, then, and in those events only, IU-ARTI will have the right to prosecute at its own expense any infringement of the Patent Rights, and IU-ARTI may, for such purposes, join Bruker as a party plaintiff or use the name of Bruker as a party plaintiff, without expense to Bruker. The total cost of any such infringement action commenced or defended solely by IU-ARTI will be borne by IU-ARTI, and IU-ARTI will keep any recovery or damages for past infringement derived therefrom.

9.4 In the event that a declaratory judgment action alleging invalidity or non-infringement of any of the Patent Rights will be brought, Bruker will defend such action, but IU-ARTI, at its option, will have the right to intervene and take over the sole defense of the action at its own expense and whereupon IU-ARTI will keep any recovery or damages derived therefrom or from any counterclaims asserted therein. Unless and until IU-ARTI elects to intervene and take over the sole defense of the action, Bruker will be responsible, at its sole expense, for the defense of the action and whereupon Bruker will keep any recovery or damages derived therefrom, or from any counterclaims asserted therein. If IU-ARTI and Bruker share in the responsibility of the expense for the defense of the action, Bruker and IU-ARTI will share in any recovery or damages derived therefrom or from any counterclaims asserted therein in proportion to the total costs contributed by each party.

9.5 In the event an infringement action is brought against Bruker arising from the use of the Patent Rights, Bruker will defend such action and will be solely responsible for all attorneys fees, costs of defense, and liability arising out of that action.

9.6 In any infringement suit brought or declaratory judgment action defended by either Bruker or IU-ARTI to protect any of the Patent Rights pursuant to this Agreement, the other party will, at the request and expense of the party initiating such suit, cooperate in all respects and, to the extent possible, have its employees testify when requested and make available relevant records, papers, information, samples, specimens, and the like.

8

9.7 Bruker will not settle or compromise any claim or action in a manner that imposes any restrictions or obligations on IU-ARTI without IU-ARTI's written consent, which consent will not be unreasonably withheld.

10. Research Support

10.1. Scope of Work. IU-ARTI will use reasonable efforts to perform experiments and studies of mutual interest to Bruker and Dr. James Reilly, Professor of Chemistry, Indiana University, related to Time-of-Flight mass spectrometry fundamentals, instrumentation and applications (hereinafter, "Collaboration").

10.2. Key Personnel. The Collaboration will be performed under the direction of Dr. James Reilly. In the event he is unable or unwilling to continue with the Collaboration, the parties will attempt to find a mutually acceptable substitute. In the event a mutually acceptable substitute is not found, the Collaboration may be terminated.

10.3 Term. The Collaboration will commence on the date of completion of the Due Diligence or will commence on the expiration of ninety (90) days after the Effective Date of this Agreement, whichever is shorter; and continue for a period of four (4) years.

10.4 Meetings. Dr. Reilly will from time-to-time and at mutually agreeable times give presentations at Bruker sponsored symposia or mass spectrometer conferences and contribute application notes for Bruker's marketing efforts. Bruker will be responsible for Dr. Reilly's travel expenses related to the giving of presentations and marketing assistance but no additional consulting fee will be paid for such presentations provided that they do not exceed three (3) presentations per year.

10.5 Bruker Facilities. During the Collaboration, Bruker will make its Massachusetts MALDI-TOF research and development and applications laboratories accessible to Dr. Reilly and his research group from time-to-time for special experiments and collaborative projects that cannot readily be performed in Dr. Reilly's laboratory.

10.6 Payments. Bruker will provide funding for the Collaboration as follows:

10.6.1 [*](3) per year;
10.6.2 [*] of the Net Sales per year during the period of Collaboration.

Payment will be made quarterly in advance with the first such payment due 90 days after the Effective Date of this Agreement. Checks will be payable to IU-ARTI and sent in accordance with
Section 16.


(3) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

9

10.7  Equipment. Bruker will deliver and install a demo REFLEX II system with
      the following configuration and/or capabilities:

      10.7.1  Manual target introduction and computer-controlled sample
              selection;
      10.7.2  "Scout" ion source;
      10.7.3  Ability to record positive and negative ion spectra;
      10.7.4  One hundred megabyte (100Mb) storage capability for large
              time-of-flight data files;
      10.7.5  Bruker's latest data manipulation software, and most recent
              applicable data acquisition software;
      10.7.6  The Multichannel Plate (MCP) detectors provided will be
              sufficiently speed-optimized to meet Bruker's resolution
              specification in mode of 12,000;
      10.7.7  Ion gate with a preselection resolution on the order of 100;
      10.7.8  Digital scope capable of sampling at 1 GHz; and
      10.7.9  Heating mantle to facilitate flight tube pump-out.

      Bruker will provide for the replacement of Bruker-built parts (excluding
      OEM-built parts) and documentation as needed to effect repairs on the
      system, but will not be responsible for providing any other service or
      repair of the system during the period of Collaboration. If either the
      Agreement or the Collaboration is terminated prior to the fourth
      anniversary of commencement of the Collaboration, the REFLEX II system
      will be returned to Bruker. Subsequent to the fourth anniversary of
      commencement of the Collaboration, title to the REFLEX 11 system will
      remain with IU-ARTI and will be free of all claims, liens, or encumbrances
      of Bruker.

      10.8. Reports and Publications. It is intended that there be full
      cooperation and a free flow of information between IU-ARTI and Bruker with
      respect to the conduct of the Collaboration. Bruker will have unrestricted
      timely access to the results of the Collaboration and the data generated
      will be communicated fully and openly to Bruker. Subject to patent rights
      of IU-ARTI, Bruker may use these data in any manner it deems appropriate.
      IU-ARTI is free to publish, present, or use any results arising out of the
      Collaboration for its own instructional, research, or publication
      objectives provided that the publication, presentation or use does not
      disclose any Information furnished by Bruker under Section 10.9. IU-ARTI
      agrees that any proposed publication or presentation relating to the
      Collaboration will be submitted to Bruker for review 30 days prior to
      submission for publication or presentation. In the event that the proposed
      publication or presentation contains patentable subject matter which
      requires protection, IU-ARTI will, upon written request from Bruker within
      the 30-day review period, delay the publication or presentation for a
      maximum of an additional 60 days to allow filing of a patent application.

      10.9. Intellectual Property.

            10.9.1 IU-ARTI will promptly disclose to Bruker, and Bruker will
      hold with the same level of confidentiality that it obligates IU-ARTI to
      use under Section 10.9, all creative ideas, developments and inventions,
      whether or not patentable, conceived or first

10

reduced to practice as a result of the Collaboration (hereinafter "Collaboration Inventions"). Collaboration Inventions developed solely by IU-ARTI will remain the property of IU-ARTI. Collaboration Inventions developed solely by Bruker will remain the property of Bruker. Collaboration Inventions developed jointly by the parties will be jointly owned by IU-ARTI and Bruker.

10.9.2 IU-ARTI hereby grants to Bruker and its Affiliates the unrestricted, irrevocable, royalty-free, worldwide, perpetual, non-exclusive right and license to make and/or use solely for Bruker's own internal research and educational purposes the Collaboration Inventions, and the unrestricted, irrevocable, royalty-free, worldwide, perpetual, non-exclusive right and license to make, have made, use, and sell the jointly-owned Collaboration Inventions.

10.9.3 IU-ARTI hereby grants to Bruker the first option for a worldwide, exclusive, royalty-bearing license, subject to the rights of the U.S. government, to make, have made, use, sell, with a right to sublicense or other-wise enforce, Collaboration Inventions owned solely by IU-ARTI, or IU-ARTI's interest in any jointly-owned Collaboration Inventions. The terms of such license will be reasonable in the circumstances and will be negotiated in good faith between Bruker and IU-ARTI. The option will extend for a time period of six (6) months from the date of first disclosure to Bruker. If Bruker exercises its option, but Bruker and IU-ARTI are unable to reach agreement on the terms of the license, Bruker will at its own option, have either "right of first refusal" with respect to any agreement granting rights in Collaboration Inventions to any third party, or a perpetual, worldwide, non-exclusive, royalty-bearing license, subject to the rights of the U.S. government, to make, have made, use, or sell Collaboration Inventions solely owned by IU-ARTI. IU-ARTI will not enter into any agreement granting any third party rights in Collaboration Inventions without first offering Bruker the same terms and conditions offered to the third party. Bruker will have thirty (30) days from IU-ARTI's first offering to Bruker in which to notify IU-ARTI that it desires to exercise its right of first refusal. If Bruker does not notify IU-ARTI that it desires to exercise its right of first refusal, then IU-ARTI may conclude the agreement with a third party on the terms and conditions proposed to Bruker. If IU-ARTI desires to enter into an agreement on terms and conditions other than those proposed to Bruker, it must again propose such agreement to Bruker as described in this Section 10.9.3.

10.10. Confidentiality.

10.10.1 IU-ARTI agrees to hold in confidence, in accordance with this paragraph, any information disclosed to IU-ARTI by Bruker in connection with the Collaboration and identified in writing as confidential (hereinafter "Information"). For the purpose of this Agreement, "hold in confidence" means that IU-ARTI will protect the Information in the same manner in which it protects its own confidential information. The Information will remain the property of Bruker, and will be disclosed only to those persons necessary for the performance of the Collaboration or is required by law.

11

10.10.2 No indirect or consequential damages or damages based on loss of profits or market share are contemplated or recoverable for breach of confidentiality.

10.10.3 The obligations of IU-ARTI to maintain confidentiality will survive the expiration or termination of this Agreement and will endure for 5 years from the date of disclosure.

10.10.4. The obligation of non-disclosure will not apply to the following:

10.10.4.1. Information that is publicly available through no fault of IU-ARTI;
10.10.4.2. Information that is disclosed to IU-ARTI by a third party entitled to disclose the Information;
10.10.4.3. Information that is already known to IU-ARTI; or
10.10.4.4. Information that is required to be disclosed by law, provided IU-ARTI promptly notifies Bruker in writing of such lawful disclosure.

10.11 IU-ARTI agrees that it will not enter into any other agreements that will conflict with its obligations hereunder.

11. Termination

11.1 Unless sooner canceled or terminated as herein provided, the license granted under this Agreement will continue for ten (10) years or for the full term of the last expiring patent or patent application within the Patent Rights, whichever is longer.

11.2 If Bruker becomes bankrupt or insolvent, or files a petition in bankruptcy, or if the business of Bruker is placed in the hands of a receiver, assignee or trustee for the benefit of creditors, whether by the voluntary act of Bruker or otherwise, this Agreement may be terminated by IU-ARTI by giving written notice to Bruker.

11.3 If Bruker at any time defaults in the payment of any license fee, royalty or other payment, or in providing any report due under this Agreement or make any false report. or commits a material breach of any covenant or undertaking set forth herein, IU-ARTI will have the right, in addition to all other remedies available, to terminate this Agreement and revoke any and all licenses herein granted, by giving Bruker ninety (90) days prior written notice of such termination, provided, however, that if Bruker will have rectified such default or breach within such ninety (90) day period, then this Agreement will remain in effect and the rights and licenses herein granted will be in force as if no default or breach had occurred on the part of Bruker. In the event of termination under this Section, Bruker will continue to be obligated to pay to IU-ARTI all license fees, royalties, or other payments payable at the time of termination pursuant to this Section or otherwise accruing under this Agreement.

11.4 Bruker will have the right to terminate this Agreement with or without cause at any time upon six (6) months written notice to IU-ARTI.

12

11.5 Any termination of the license granted under this Agreement will not relieve Bruker of any obligations to make payments for any license fees, royalties or other payments that may have accrued prior to the date of such termination. Bruker may, for and only for a twelve (12) month period following termination of this Agreement, sell all Licensed Products in the inventory of Bruker at the usual sales price of Bruker for such Licensed Products, provided that Bruker will pay to IU-ARTI the royalties thereon as required by Section 3 of this Agreement and will submit the reports required by Section 7 of this Agreement. Any Licensed Products remaining in inventory of Bruker following such twelve (12) month period will be either destroyed or, at Bruker's discretion, transferred, without charge or cost, to IU-ARTI.

11.6 Upon termination of this Agreement for any reason the rights granted herein will immediately revert to IU-ARTI.

11.7 If, at any time during this Agreement, Bruker directly or indirectly opposes or assists any third party to oppose the grant of any Letters Patent on any patent application within the Patent Rights or disputes or directly or indirectly assists any third party to dispute the validity of any patent within the Patent Rights, or any of the claims thereof, IU-ARTI will be entitled thereafter to terminate immediately all or any portion of the license granted under this Agreement by notice thereof to Bruker.

11.8 Provisions of this Agreement which by their nature contemplate rights and obligations of the parties to be enjoyed or performed after the expiration or termination of this Agreement will survive until their purposes are fulfilled. Termination of this Agreement for any reason will not relieve either party of its obligations under this Agreement previous to the effective date of such termination.

12. Indemnification and Insurance

12.1 Bruker will, and require all of its sublicensees to, at all times during the term of this Agreement and thereafter, indemnify, hold harmless, and defend IU-ARTI, Indiana University, their trustees, officers, directors, employees, agents, and affiliates from and against all claims, losses, damages, and/or liability of whatsoever kind or nature, as well as all costs and expenses, including legal expenses and reasonable attorneys fees, which arise or may arise at any time out of or in connection with any activity of Bruker involving the Licensed Products, Invention, or the Patent Rights, including without limitation, the manufacture, use, sale, lease, commercialization, licensing or distribution of any system, method, process, apparatus, device, product, article or appliance derived from or using the Licensed Products, Invention, or the Patent Rights.

12.2 Bruker and each of its sublicensees will carry liability insurance at its expense, adequate to assure its obligations to the IU-ARTI under
Section 11. 1 of this Agreement. Bruker will include satisfactory evidence of adequate insurance coverage upon request.

13. Assignment

13

Bruker may assign or otherwise transfer this Agreement and the license granted hereby and the rights acquired by it to and only to the assignee or transferee of Bruker's entire business or of that part of Bruker's business to which the License granted under this Agreement relates, provided, however, that such assignee or transferee agrees in writing to be bound by the terms and conditions of this Agreement within thirty (30) days of such sale or transfer.

14. Non-Use of Names

Bruker will not use the names or trademarks of Indiana University, IU-ART1 or of the Inventors, nor any adaptation thereof in any advertising, promotional or sales activities without prior written consent obtained from IU-ARTI in each separate case, except that Bruker may state that it is licensed under one or more of the patents and/or applications within the Patent Rights.

15. Export Controls

It is understood that IU-ARTI is subject to United States laws and regulations controlling the export of technical data, computer software, laboratory prototypes, and other commodities that may require a license from the applicable agency of the United States Government and/or may require written assurances by Bruker that Bruker will not export data or commodities to certain foreign countries without prior approval of such agency. IU-ARTI neither represents that a license will not be required nor that, if required, it will be issued.

16. Payments, Notices and Other Communications

Any payment, notice, or other communication pursuant to this Agreement Nvill be sufficiently made or given on the date of mailing, if sent to such party by express mail or certified first class mail, postage prepaid, made out to IU-ARTI and addressed to it at its address below or made out to Bruker and addressed to it at its address below or a replacement address as either party will designate by written notice given to the other party:

IU-ARTI:    Julie M. Watson, Vice President
            Advanced Research and Technology Institute
            Office of Technology Transfer
            Indiana University Research Park
            501 N. Morton Street, Suite 111
            Bloomington, IN 47404-3730

            Tax ID Number: 35-1990726

Bruker:     Dr. Frank Laukien, President
            Bruker Daltonics, Inc.

14

15 Fortune Drive, Manning Park Billerica, MA 01821

17. Miscellaneous Provisions

17.1 This Agreement will be construed, governed, interpreted, and applied in accordance with the laws of the State of Indiana, U.S.A., except that questions affecting the construction and effect of any patent will be determined by the law of the country in which the patent was granted.

17.2 This Agreement sets forth the entire agreement and understanding of the parties related to the subject matter and may not be modified, except that this Agreement may be modified by a duly executed amendment signed by an authorized representative of both parties.

17.3 The provisions of this Agreement are severable, and in the event that any provision of this Agreement will be determined to be invalid or unenforceable under any controlling body of law, such invalidity or non-enforceability will not in any way affect the validity or enforceability of the remaining provisions hereof.

17.4 Bruker agrees to mark the Licensed Products made, used or sold in the United States with all applicable United States patent numbers. All Licensed Products used, shipped to or sold in other countries will be marked in such a manner as to conform with the patent laws and practice of the country of use, shipment, and/or sale.

17.5 The failure of either party to assert a right hereunder or to insist upon compliance with any term or condition of this Agreement will not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition by the other party.

17.6 Nothing contained in this Agreement will be deemed to place the parties in a partnership, joint venture or agency relationship, and neither party will have the right or authority to obligate or bind the other party in any manner.

17.7 This Agreement will be executed in duplicate counterparts, each of which will be deemed an original, but all of which taken together will constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals and duly executed this Agreement as of the day and year last set forth below.

Indiana University Advanced Research Bruker Daltonics, Inc. and Technology Institute

15

By:   /s/  Douglas M. Wilson              By:   /s/  Frank Laukien
   ---------------------------------         ----------------------------
      Douglas Wilson                            Dr. Frank Laukien
      President                                 President

DATE:       8/10/98                       DATE:       8/10/98


16

SCHEDULE A

Patent No.      Inventors           Title
----------      ---------           -----

5,504,326       James P. Reilly     Spatial-Velocity Correlation Focusing in
                Steven M. Colby     Time-of-Flight Mass Spectrometry
                Timothy B. King

5,510,613       James P. Reilly     Spatial-Velocity Correlation Focusing in
                Steven M. Colby     Time-of-Flight Mass Spectrometry
                Timothy B. King

5,712,479       James P. Reilly     Spatial-Velocity Correlation Focusing in
                Steven M. Colby     Time-of-Flight Mass Spectrometry
                Timothy B. King

17

Exhibit 10.6

THIRD AMENDMENT
TO
LEASE BETWEEN BRUKER INSTRUMENTS, INC., LESSOR
AND
BRUKER DALTRONICS, INC., LESSEE
FOR THE PREMISES AT

15 FORTUNE DRIVE, BILLERICA, MASSACHUSETTS

Amendment to Amended Lease Agreement dated as of June 27, 1996 (the "Lease") between Bruker Instruments, Inc., Lessor and Bruker Daltronics, Inc., Lessee, for the property known as and numbered 15 Fortune Drive, Billerica, Massachusetts.

1. WHEREAS, the Lease defines the term as through October 31, 1999; and

WHEREAS, the Lessor and Lessee wish to extend the term to renew annually automatically;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1. Article II, Paragraph 1 of the Lease is hereby modified to:

TO HAVE AND TO HOLD the Demised Premises under the Tenant for the term of one year, automatically renewing annually unless terminated in writing with 90 days written notice by either party.

2. Article II, Paragraph 2 of the Lease is hereby DELETED.

3. All other provisions of the Lease remain unchanged and the parties hereto ratify the Lease as amended hereby.

Executed as an instrument under seal as of the 25th day of January, 1999.

Lessor:
BRUKER INSTRUMENTS, INC.

/signature/
Duly Authorized

Lessee:
BRUKER DALTRONICS, INC.

/signature/
Duly Authorized


SECOND AMENDMENT
TO
LEASE BETWEEN BRUKER INSTRUMENTS, INC., LESSOR
AND
BRUKER DALTRONICS, INC., LESSEE
FOR THE PREMISES AT

15 FORTUNE DRIVE, BILLERICA, MASSACHUSETTS

Amendment to Amended Lease Agreement dated as of January 15, 1998 (the "Lease") between Bruker Instruments, Inc., Lessor and Bruker Daltronics, Inc., Lessee, for the property known as and numbered 15 Fortune Drive, Billerica, Massachusetts.

1. WHEREAS, the Lease defines the rentable space as Seventeen Thousand Five Hundred Ninety-five (17,595); and

WHEREAS, the Lessor and Lessee wish to increase the rentable space;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

2. Article I, Paragraph 1 of the Lease is hereby modified by changing "Seventeen Thousand Five Hundred Ninety-five (17,595)" to "Twenty-Nine Thousand Five Hundred Thirty-five (29,535)".

3. Article III, Paragraph (a) of the Lease is hereby modified by changing "One Hundred Thirty One Thousand Nine Hundred Sixty-two and 44/100 ($131,962.44)" to "Two Hundred Twenty One Thousand Two Hundred Twenty and 00/100 ($221,220.00)".

4. All other provisions of the Lease remain unchanged and the parties hereto ratify the Lease as amended hereby.

Executed as an instrument under seal as of the 25th day of January, 1999.

Lessor:
BRUKER INSTRUMENTS, INC.

/signature/
Duly Authorized

Lessee:
BRUKER DALTRONICS, INC.

/signature/
Duly Authorized

2

FIRST AMENDMENT
TO
LEASE BETWEEN BRUKER INSTRUMENTS, INC., LESSOR
AND
BRUKER DALTRONICS, INC., LESSEE
FOR THE PREMISES AT

15 FORTUNE DRIVE, BILLERICA, MASSACHUSETTS

Amendment to Lease Agreement dated as of June 27, 1996 (the "Lease") between Bruker Instruments, Inc., Lessor and Bruker Daltronics, Inc., Lessee, for the property known as and numbered 15 Fortune Drive, Billerica, Massachusetts.

WHEREAS, the Lease defines the rentable space as Sixteen Thousand Six Hundred Eighty-three (16,683); and

WHEREAS, the Lessor and Lessee wish to increase the rentable space;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1. Article I, Paragraph 1 of the Lease is hereby modified by changing "Sixteen Thousand Six Hundred Eighty-three (16,683)" to "Seventeen Thousand Five Hundred Ninety-five (17,595)".

2. Article III, Paragraph (a) of the Lease is hereby modified by changing "One Hundred Twenty Five Thousand One Hundred Twenty-two and 50/100 ($125,122.50)" to "One Hundred Thirty One Thousand Nine Hundred Sixty-two and 44/100 ($131,962.44)".

3. All other provisions of the Lease remain unchanged and the parties hereto ratify the Lease as amended hereby.

Executed as an instrument under seal as of the 15th day of January, 1998.

Lessor:
BRUKER INSTRUMENTS, INC.

/signature/
Duly Authorized

Lessee:
BRUKER DALTRONICS, INC.

/signature/
Duly Authorized

3

INDENTURE OF LEASE

THIS INDENTURE made this 27th day of June, 1996 by and between BRUKER INSTRUMENTS, INC., a Massachusetts corporation with principal offices located at 19 Fortune Drive, Billerica, MA 01821, as sub-landlord (hereinafter referred to as the "Landlord"), and BRUKER ANALYTICAL SYSTEMS, INC., a Massachusetts corporation, having a usual place of business at 15 Fortune Drive, Billerica, MA 01821 as sub-tenant (hereinafter referred to as the "Tenant").

RECITAL

Dirk D. Laukien and Frank H. Laukien, Trustees of Umbrina Realty Trust (the "Trust") entered into a Lease Agreement dated as of April 1, 1993 with the Landlord (the "Lease Agreement"), whereby Landlord leased the premises known as and numbered 15 Fortune Drive, Billerica, Massachusetts (the "Property").

W I T N E S S E T H:

ARTICLE I - PREMISES. The Landlord does by these presents demise and lease unto the Tenant and the Tenant does hereby hire from the Landlord, upon and subject to the terms and provisions of this Lease for the term hereinafter set forth, the following premises (hereinafter sometimes called the "Demised Premises"): approximately Sixteen Thousand Six Hundred Eighty-three (16,683) rentable square feet of space in the Property, all as more particularly shown on the plan attached hereto as EXHIBIT A, as well as the right to use in common with other tenants Thirty-three and 2/10 percent (33.2%) of the parking spaces provided for the Building (as hereinafter defined). The Demised Premises are demised and leased subject to:

(a) The rights of parties in possession and the existing state of title thereof as of the commencement of the term of this Lease;

(b) All zoning regulations, restrictions, rules and ordinances, building restrictions and other laws and regulations now in effect or hereafter adopted by any governmental authority having jurisdiction; and

(c) Taxes, assessments, easements, claims of easements and encumbrances, as of the date of commencement of the term of this Lease.

The Demised Premises are leased herewith together with the right to use, in common with others entitled thereto, the hallways, stairways, loading areas and elevators, if any, necessary for access to, egress from and use of the Demised Premises.

The Property in which the Demised Premises are situated may be sometimes referred to herein as the "Building". The Building, together with all other improvements situated upon the land known and numbered as 15 Fortune Drive, Billerica, described in

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EXHIBIT B attached hereto and made a part hereof, shall be sometimes collectively referred to herein as "Landlord's Property."

ARTICLE II - TERM. TO HAVE AND TO HOLD the Demised Premises unto the Tenant for the term of Three (3) years and four (4) months commencing on July 1, 1996 and terminating on October 31, 1999, both dates inclusive.

Provided that Landlord has extended the Lease Agreement, and provided, further that at the times of exercise, and at the end of the then present term,
(i) there exists no Default, as hereinafter defined, beyond applicable notice and cure periods, and (ii) this Lease is still in force and effect, Tenant shall have the right to extend the Term hereof upon all of the same terms, conditions, covenants and agreements herein contained (except for Rent, which shall be adjusted as set forth in Article III, below) for two (2) successive terms of three (3) years each. The said two (2) extension terms are hereinafter referred to as the "First Extension Term" and the "Second Extension Term", respectively. Tenant may extend this Lease by providing the Landlord written notice of its election to extend not less than four (4) months prior to the expiration of the then current term.

ARTICLE III - RENT.

(a) Fixed Annual Rent: Tenant agrees to pay to Landlord fixed annual rent, One Hundred Twenty Five Thousand One Hundred Twenty-two and 50/100 ($125,122.50) dollars, payable in equal monthly installments commencing on July 1, 1996 and on the first day of each calendar month of the term of this Lease in advance, without deduction, counterclaim or set-off.

(b) FIRST EXTENDED TERM: The fixed annual rent for the First Extended Term shall be adjusted in accordance with changes in the Consumer Price Index (hereinafter called the "Price Index"). The Price Index shall mean the average for "All Items" Series A, for "Urban Wage Earners and Clerical Workers, Boston, Massachusetts", as promulgated by the Bureau of Labor Statistics of the U.S. Department of Labor. The fixed annual rent for the First Extended Term shall be adjusted in accordance with the following provisions:

(i) The Price Index as of July, 1996 shall be designated the Base Price Index.

(ii) Promptly after the commencement of the First Extended Term, the fixed annual rent shall be adjusted so that the ratio of the Price Index for the first month following the commencement of the First Extended Term to the adjusted rent shall be the same as the ratio of the Base Price Index to the fixed annual rent for the original Term; and

(iii) No such adjustment shall reduce the fixed annual rent below the highest fixed annual rent during the original Term.

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(c) SECOND EXTENDED TERM: The fixed annual rent for the Second Extended Term shall be adjusted in accordance with changes in the Price Index. The fixed annual rent for the Second Extended Term shall be adjusted in accordance with the following provisions:

(i) The Price Index as of November, 1999 shall be designated the Base Price Index.

(ii) Promptly after the commencement of the Second Extended Term, the fixed annual rent shall be adjusted so that the ratio of the Price Index for the first month following the commencement of the Second Extended Term to the adjusted rent shall be the same as the ratio of the Base Price Index to the fixed annual rent for the First Extended Term; and

(iii) No such adjustment shall reduce the fixed annual rent below the highest fixed annual rent during the First Extended Term.

In the event that a substantial change is made in the method of establishing such Price Index, then the Price Index shall be adjusted to the figure that would have resulted had no change occurred in the manner of computing such Price Index. In the event that such Price Index (or a successor substitute index) is not available, a reliable governmental or other nonpartisan publication evaluating the information theretofore used in determining the Price Index shall be used in lieu of such Price Index.

Tenant may exercise its option to extend the Term of this Lease for the First Extended Term, and, thereafter, extend the First Extended Term of this Lease for the Second Extended Term, by providing Landlord with written notice thereof not less than four (4) months prior to the expiration of the then current term.

Tenant also agrees to pay as Additional Rent (as hereinafter defined), any and all sums which may become due by reason of an omission or failure of the Tenant to comply with any of the terms, covenants, provisions, obligations and conditions of this Lease, together with all damages, costs and expenses which the Landlord may suffer or incur by reason of any omission or failure, including without limitation, attorneys fees, plus interest calculated at the highest rate allowable by law.

Rent and other sums of money provided to be paid by the Tenant to the Landlord shall be paid to the Landlord at the place to which notices to the Landlord are required to be sent as provided in ARTICLE XXIV, below, or to such other person or address as the Landlord shall from time to time designate by written notice to the Tenant.

Tenant also agrees to pay, as additional rent, any and all sums which may become due by reason or an omission or failure of the Tenant to comply with any of the terms, covenants, provisions, obligations and conditions of this Lease, together with all damages, costs and expenses which the Landlord may suffer or incur by reason of any omission or failure, including without limitation, attorneys fees and expenses.

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ARTICLE IV - NET - NET - NET LEASE. All costs, taxes, and all other expenses based upon or arising out of the possession, and/or use of the Demised Premises shall be borne solely by the Tenant without any exception, limitation, or reservation whatsoever except as otherwise specifically provided in this Lease. It is the intention of the parties that all rent, additional rent and other payments provided for in this Lease shall be 100% net to the Landlord and shall not be diminished in any manner whatsoever except as otherwise specifically provided herein.

ARTICLE V - TENANT'S COVENANTS. The Tenant agrees with the Landlord that during the term of this Lease and for such further time as the tenant or any person claiming through or under it shall hold the Demised Premises or any part thereof that:

(1) the Tenant shall pay punctually to the Landlord the rent and additional rent reserved herein, and all other sums that may become due and payable by the tenant hereunder, at the times and in the manner set forth in this Lease;

(2) the Tenant shall pay all charges for heat, water, sewer, gas, electricity, telephone and other utilities or services used or consumed upon the Demised Premises, whether called a charge, tax, assessment, fee or otherwise, including, without limitation, water and sewer charges and taxes, if any, all such charges to be paid as the same from time to time become due and, in any event, before the same shall become delinquent. In the event any of the utilities servicing the Demised Premises are not separately metered, the Tenant shall pay its Proportionate Share (as hereinafter defined) of such utility costs as provided in ARTICLE VI of this Lease. In no event shall the Landlord be liable to the Tenant in damages or otherwise for any interruption, curtailment or suspension of any utility services, nor shall Tenant be entitled to any abatement of rent by reason of the same.

(3) the Tenant shall keep the Demised Premises and the fixtures therein, and also all of the doors and windows thereof in the same condition they now are or may be put in hereafter, reasonable wear and tear, damage by fire and other unavoidable casualty only excepted, and the Landlord shall be under no obligation to make any repairs, renovations, alterations or improvements to the Demised Premises, the Building or the Landlord's Property (except as herein specifically provided otherwise);

(4) the Tenant shall not permit any hole to be drilled which may weaken the structure of the Building. Upon the removal of any fixtures, equipment or signs so installed by the Tenant, the Tenant shall restore the stone, brickwork, and walls, ceilings and floors to

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the condition they were in prior to the installation, except as otherwise specifically provided in herein;

(5) if the Tenant, or its employees, agents, invitees, licensees, or anyone claiming under the Tenant or the whole or any part of any property of every kind, nature and description belonging to the Tenant or anyone claiming by, through or under the Tenant shall be injured, lost or damaged by theft, fire, explosion, falling plaster, gas, electricity, electrical disturbance, water, rain, snow, stream, all leaks (including, but not limited to, leaks from any part of the Building, the pipes, appliances, plumbing works, the roof, street, subsurface or any other place), or from any cause whatsoever, whether similar or dissimilar to the foregoing, no part of said injury, loss or damage is to be borne by the Landlord;

(6) other than those arising due to Landlord's own negligence or willful deeds, the Tenant agrees to and does hereby indemnify and save the Landlord harmless from and against any and all claims, losses, damages, liability, suits, costs, fees and expenses, including, without limitation, reasonable attorneys' fees and expenses, arising out of or in connection with the Tenant's use or occupancy of the Demised Premises, the Building or the Landlord's Property and any act or omission of the Tenant, its agents, contractors, invitees, licensees, servants, or employees; or resulting from the failure of the Tenant to perform and discharge its covenants and obligations under this Lease. If the Landlord is, except due to its own negligence, made a party to any litigation or legal claim (without regard to whether any litigation is commenced) asserted by or against the Tenant, or by or against any parties in possession of the Demised Premises, or any party thereof claiming under the Tenant, the Tenant shall pay all costs, including without limitation, reasonable counsel fees, incurred by the Landlord in connection with such litigation and in connection with enforcing this indemnification;

(7) the Tenant covenants that all furnishings, trade fixtures, effects and personal property of every kind, nature and description belonging to the Tenant and all parties claiming by, through or under the Tenant which, during the term of this Lease or any occupancy of the Demised Premises by the Tenant or anyone claiming by, through or under the Tenant, may be upon or within the Demised Premises, shall be at the sole risk and hazard of theft; and if the whole or any part thereof shall be destroyed or damaged by fire, explosion, falling plaster, steam gas, electricity, electrical disturbance, water, rain, snow, all leaks (including, but not limited to, leaks from any part of the Building, the pipes, appliances,

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plumbing works, the roof, street, subsurface, or any other place), theft, or from any other cause whatsoever, no part of said loss or damage is to be charged to or to be borne by the Landlord, except as may be caused by the negligence or intentional acts of the Landlord;

(8) no trade or occupation shall be carried on upon or within the Demised Premises, nor will any use be made thereof which shall be unlawful, improper, offensive or contrary to any law of the Commonwealth of Massachusetts, or any law or ordinance from time to time in force of the Town of Billerica, or rules or regulations of the Board of Fire Underwriters, or which shall be injurious to any person or property;

(9) the Tenant shall not: permit any practice which will create any nuisance; overload, deface or injure the Demised Premises, the Building or the Landlord's Property; commit or suffer any waste; dump, flush, or in any way introduce any hazardous or toxic substances into the sewage or other waste disposal system serving the Demised Premises, the Building or the Landlord's Property; generate, store, use or dispose of inflammable, hazardous or toxic substances in or about the Demised Premises, the Building or the Landlord's Property; or make such use of the Demised Premises, the Building or the Landlord's Property as to disturb, by obnoxious odors, noises or otherwise, the Landlord, or any of the Landlord's other tenants in the Building.

(10) nothing shall be done upon or within the Demised Premises, the Building or the Landlord's Property which increases, in any way, the rate of fire insurance or creates any extra premiums for any such insurance, or increases the rate of other casualty or liability insurance or prevents the obtaining of any such insurance on the building or on the property kept therein, or which renders void or voidable any such policy of insurance; provided that if the rate of any such insurance is increased or extra premiums are made payable by reason of anything done or permitted to be done by the Tenant on the Demised Premises, the Tenant shall pay such increase or extra premiums on demand;

(11) unless covered by casualty insurance, the Tenant shall keep in good condition, at its own expense, with glass for the same kind and quality as that which may be damaged or broken, all the glass now or hereafter in the demised Premises, whether broken by accident, the elements or any other cause;

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(12) the Tenant shall comply promptly with all laws, rules, regulations, requirements and orders of public authorities, local boards of fire underwriters and similar organizations having jurisdiction which are applicable to the Demised Premises, Tenant's use and occupancy thereof and/or the Tenant's business operation;

(13) the Tenant shall maintain in full force and effect as of the date it takes possession of the Demised Premises and during the term, of this Lease, at its sole cost and expense, the following insurance policies: (i) comprehensive public liability and property damage insurance indemnifying and insuring the Landlord, the Landlord's Mortgagee, if required by the Landlord, and the Tenant against all claims and demands for personal injury liability (including, without limitation, bodily injury, sickness, disease and death) or damage to property which may be claimed to have occurred upon, within or about the Demised Premises, the Building and the Landlord's Property, with combined single limits of not less than One Million Dollars ($1,000,000,000), with such insurance to include products and completed operations and
(ii) fire and casualty insurance, covering loss of or damage to all furnishings, trade fixtures, effects and other personal property located within the Demised Premises, on an all risk of loss basis, in amounts equal to the full replacement cost thereof.

The Landlord and the Landlord's Mortgagee, if required by the Landlord, shall be named as an additional named insured on all insurance policies required hereunder, with full privity of contract including the right to participate in any loss adjustment. The Tenant may maintain such insurance under a blanket policy affecting the Demised Premises and other premises of the Tenant or any business organization affiliated with the Tenant. The Tenant shall furnish the Landlord with copies of said insurance policies and satisfactory evidence of the payment of the premiums thereon. The Tenant shall furnish the Landlord with Certificates of Renewal at least thirty (30) days prior to the expiration of each such insurance policy. The Tenant shall pay promptly when due the premiums on said insurance policies. All insurance policies required hereunder shall contain provisions providing that the policies. All insurance policies required hereunder shall contain provisions providing that the policies may not be canceled or modified without at least thirty (30) days prior written notice to the Landlord and that the Landlord shall be notified of any non-payment of premium.

The Landlord may from time to time increase the minimum limits of insurance required pursuant to the provisions of this paragraph

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(13). Tenant also agrees to keep all of its employees covered by workmen's compensation insurance in the required statutory amounts and such other insurance in such amounts and upon such terms as the Landlord may, from time to time, reasonably require.

(14) the Tenant shall not permit any non-structural repairs, installations, alterations, additions, improvements or removals (collectively, the "Alterations") to be made to the Demised Premises without the prior written consent of the Landlord, which consent shall not be unreasonably withheld or delayed. All permitted Alterations made by the tenant to the Demised Premises shall be made at Tenant's sole cost and expense and shall belong to the Tenant during the term hereof and, unless otherwise specifically provided by the Landlord, shall become the property of the Landlord and shall remain upon and be surrendered with the Demised Premises as a part thereof at the termination of this Lease. The tenant agrees that it shall procure all necessary permits before making any such permitted non-structural Alternations. The Landlord agrees that it shall co-operate with the Tenant in obtaining such permits, provided, however, all costs and expenses incident to Landlord's cooperation (including without limitation, reasonable attorneys fees and costs) shall be paid by Tenant upon demand.

Tenant shall not make any structural Alternations to the Demised Premises or the Building without the prior written consent of the Landlord, which, at Landlord's sole option may be withheld or denied for any reason, or for not reason.

With regard to all structural and non-structural Alterations that have been consented to by the Landlord, the Tenant shall: (i) submit to Landlord compete plans and specifications for the work; (ii) deliver to the Landlord a statement of the names of all contractors and subcontractors and the estimated cost of all labor and material to be furnished by them; (iii) require each contractor and subcontractor to carry workmen's compensation insurance, in statutory amounts, covering all of the contractor's and subcontractor's employees and comprehensive public liability and property damage insurance with combined single limits of not less than One Million Dollars ($1,000,000,000) with such insurance policies to include contractual liability, products and completed operations, naming the Landlord and Tenant as additional named insureds; and (iv) require the contractors and subcontractors to deliver to the Landlord certificates of insurance for all such required insurance. The Tenant agrees that all Alterations done by it or anyone claiming under it will be done in a good and workmanlike manner, that the same will be done in conformity

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with the plans and specifications approved by the Landlord. The Tenant shall repair any and all damage, caused by or resulting from, any such Alterations, including, without limitation, the filling of holes. The Tenant agrees to save the Landlord harmless from, and indemnify the Landlord against any and all claims for injury, loss or damage to persons or property caused by or resulting from the doing of any such work which indemnification shall include the payment of Landlord's reasonable attorneys' fees and expenses incurred in connection with such claims and in enforcing this indemnification. The Tenant agrees to pay promptly when due all charges for labor and materials in connection with any work done by the Tenant or anyone claiming under the Tenant upon the Demised Premises so the Demised Premises shall, at all times, be free of liens for such work;

(15) the Tenant shall not permit any sign to be place upon the outside of the building except such sign, and in such place and manner as shall have been first approved by the Landlord in writing. Whatever signs shall be placed upon the Building shall be attached in a good and workmanlike manner and in conformity with all laws, ordinances, regulations and orders for ht time being in force of all public authorities having jurisdiction. The Tenant shall indemnify and same harmless the Landlord from an and all claims for injury or damage to person or property caused by the installation, maintenance or removal of any signs attached by the Tenant;

(16) the Tenant shall not assign, mortgage, pledge or transfer by operation of law or otherwise convey this Lease or any interest therein, or sublet the Demised Premises or any part thereof without first obtaining on each occasion the written consent of the Landlord, which consent, at Landlord's sole option, may be withheld or denied for any reason or for no reason.

If the Tenant shall be a corporation, a transfer of more than forty-nine (49%) of the voting stock of said corporation, either at one time, or in the aggregate shall be deemed to be an assignment of this Lease unless such stock is listed for sale to the public on a recognized stock exchange or such transfer is made in connection with a bona fide public offering. Such a transfer shall be permitted in connection with a merger or consolidation of Tenant with or into another corporation, if immediately subsequent to such merger or consolidation, the net worth of the surviving corporation shall be at least one hundred twenty-five percent (125%) of the net worth of Tenant immediately prior thereto. Net worth in all instances to be determined by a Certified Public Accountant using generally

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accepted accounting principals, consistently applied. Notwithstanding the foregoing , the Tenant may assign the Lease to a parent, subsidiary or affiliate corporation, subject to the continued liability of the Tenant, as set forth below.

The Tenant may not, in any event, assign, sublet or otherwise transfer this Lease if it is in default of any of the terms, covenants or conditions of this Lease. No assignment, sublease or other transfer by the Tenant, even though consented to by the Landlord, shall, in any manner, diminish or limit the liability of the Tenant to the Landlord under the terms, covenants and conditions of this Lease, and such liability shall remain and continue in full force and effect as if the Tenant had never entered into any assignment, sublease or transfer. The Tenant shall remain and continue to be unconditionally and primarily liable for the performance of all obligations of this Lease including without limitation, the obligation to pay all rent. The acceptance by the Landlord of rent or the performance of any of the other obligations of this Lease from an assignee, subtenant or transferee shall not be deemed a release of the Tenant from any of its obligations or an acknowledgment of any assignment or sublease.

Any attempted assignment, transfer, mortgage, grant of security interest, sublease, or other conveyance of this Lease or any interest therein, except as permitted by the provisions of this Paragraph 16, shall be void. If, for any assignment or sublease of this Lease, the Tenant receives rent or other consideration, either initially or over the term of the assignment or sublease, in excess of the rent called for hereunder, or in case of sublease of part, in excess of such rent fairly allocable to the part, after appropriate adjustments to assure that all other payments called for hereunder are appropriately taken into account, the Tenant shall pay to Landlord as additional rent, the full excess of each such payment of rent or other consideration received by Tenant promptly after its receipt.

(17) the Tenant shall not do or cause anything to be done whereby the Demised Premises, the Building or the Landlord's Property shall be encumbered by any lien, attachment or other encumbrance, and shall, whenever and as often as any lien, attachment, or encumbrance is filed against the Demised Premises, the Building or the Landlord's Property as a result of any acts by the Tenant or anyone claiming under the Tenant, or any work performed or claimed to have been performed by or for the benefit of the Tenant, cause the same to be canceled and discharged of record, by payment, bond or otherwise, within ten (10) days after the date of the filing thereof. If any such lien is not discharged and released

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within said ten (10) days, then the Landlord shall have the right, but not the obligation, to take such action as it deems desirable to remove such lien, and the Tenant shall indemnify and reimburse the Landlord for any costs incurred in connection therewith;

(18) if the Tenant or anyone claiming under the Tenant shall remain in possession of the Demised Premises or any part thereof after the expiration or sooner termination of this Lease without any agreement in writing between the Landlord and the Tenant with respect thereto, prior to acceptance of rent by the Landlord, the person remaining in possession shall be deemed a tenant at sufferance and after acceptance of rent by the Landlord, the person remaining in possession shall be deemed a monthly tenant at will, subject to the provisions of this Lease insofar as the same may be made applicable to a tenancy at will; provided, however, that if annual rent shall be payable during the term of this Lease at different rates at different times, annual rent during such period as such person shall continue to hold the Demised Premises or any part thereof shall be payable at twice the highest rate payable during the term hereof. In no event shall any tenancy for years or from year to year be created unless by an agreement by and between the Landlord and Tenant in writing;

(19) the Tenant shall at all times during the term of this Lease and at its own expense, keep and maintain the Demised Premises in good order, repair and condition, including, without limiting the foregoing, keeping the Demised Premises in good, safe, reasonably neat and attractive condition, both interior and exterior;

(20) the Tenant agrees that it and its employees and others connected with Tenant's operations at the Demised Premises will abide by all reasonable rules and regulations with respect to the building from time to time established by Landlord by written notice to Tenant.

ARTICLE VI - TENANTS PROPORTIONATE SHARE. Tenant shall, during the term of this Lease, pay to Landlord, as additional rent, Tenant's proportionate share of all real estate impositions, public assessments, insurance costs and Operational Expenses, all as hereinafter defined, with respect to Landlord's Property as provided in this ARTICLE VI. It is agreed that Thirty-three and 2/10 percent (33.2%) will be Tenant's proportionate share of all additional rent and items provided for in this ARTICLE VI ("Tenant's Proportionate Share").

(A) Tenant shall pay to Landlord Tenant's Proportionate Share of (i)
the real estate impositions for all tax periods wholly included in the term of this Lease and (ii) for any fraction of a tax period included in the term of this Lease at the beginning or end, the corresponding fraction of the real estate impositions assessed for the period. All such

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payments shall be made within ten (10) days after Landlord shall have notified Tenant of the amount of such impositions (such notice to include a copy of the tax bills involved), except that payment for the period in which the term of this Lease shall end shall be made not later than the termination date of this Lease, and if the amount is not then determinable shall be made on the basis of the last prior imposition, with readjustment as soon as the correct amount is determinable. the term "real estate impositions" as used herein shall be deemed to constitute the real estate taxes on Landlord's Property (including, without implied limitation, the Building and the Demised Premises), expenses of any proceedings for abatement or reduction of taxes and assessments (less any abatements or refunds received and attributable to a tax period or fraction thereof included during the term of this Lease), and any use or occupancy or similar tax with respect to the Landlord's Property. The foregoing provisions of this ARTICLE VI are predicated upon the present system of taxation in the Commonwealth of Massachusetts. If taxes upon rentals shall be substituted, in whole or in part, for the present and valorem real estate taxes, then Tenant's Proportionate Share of taxes (as set forth above) shall be based upon such taxes on rentals to the extent to which the same shall be a substitute for present and valorem real estate taxes. Further, if there is any other change in the system of taxation (other than as set out immediately above) which is in substitution of the present system, Tenant shall be responsible for its fair and equitable share thereof, taking into account the prorations provided for in this ARTICLE VI.

(B) In the event of any public special or betterment assessments for improvements hereafter installed, Tenant shall pay to Landlord Tenant's Proportionate Share thereof, as follows:

If Landlord is permitted by law to pay the assessments in installments, Tenant shall pay to Landlord Tenant's Proportionate Share of the first installment within thirty (30) days after Landlord shall have notified Tenant of such assessment and the amount of the first installment. Thereafter, at least fifteen (15) days before subsequent installments become due, Tenant shall pay to Landlord Tenant's Proportionate Share of each installment, including interest, coming due during the term of this Lease, and shall pay to Landlord not later than the end of the term of this Lease for any fraction of an installment period at the end of the term, the corresponding fraction of Tenant's Proportionate Share of the installment, including interest, for the period.

If Landlord is not permitted to pay any such assessments in installments, Tenant shall pay to Landlord Tenant's Proportionate Share of the full amount thereof within sixty (60) days after Landlord shall have notified Tenant of the amount of the assessment.

Tenant shall have no liability for any installment due or deemed to be due after the expiration of the term hereof except as such installment relates to any period of time falling within the term of this Lease.

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(C) Tenant shall pay to Landlord Tenant's Proportionate Share of all costs and expenses of every kind and nature paid or incurred by the Landlord (including appropriate reserves) in operating, maintaining, insuring, managing, equipping, policing and securing (if and to the extend provided by the Landlord) the common areas of the Building and Landlord's Property and the Demised Premises. Such costs and expenses (the "Operational Expenses") shall include, but shall not be limited to, the cost of scheduled trash and refuse compacting and removal; water and sewer and other utility charges servicing the common areas of the Building and Landlord's Property and the Demised Premises (unless the utilities servicing the Demised Premises are separately metered, in which event, the Tenant shall pay all such utility costs directly to the utility companies providing such services as indicated pursuant to the provisions of ARTICLE V hereunder) and the cost of maintenance, repair and replacement of utility systems serving the common areas of the Building and/or the Landlord's Property (including, without limitation, water, sewer and storm water and other utility lines, pipes and conduits); the cost of pumping, cleaning, repairing, replacing and rebuilding all septic systems and leaching fields serving the Landlord's Property; the cost of maintenance, repair and replacement of the Landlord's signage; wages, salaries, fees and other compensation, payroll taxes, contributions to any social security, unemployment insurance, pension or similar fund and payments for other fringe benefits made to or on behalf of any and all agents, employees, or contractors of the Landlord performing services rendered in connection with the common areas of the Building and/or Landlord's Property; fees for licenses and permits; costs of independent contractors performing services with respect to the common areas of the Building and/or Landlord's Property; supplies; depreciation of equipment used in the operation, repair and maintenance of the Landlord's Property; premiums incurred by the Landlord with respect to all insurance relating to the Building and/or Landlord's Property, including, without limitation, fire and casualty insurance, public liability insurance, workmen's compensation insurance, boiler and machinery insurance, sprinkler leakage insurance, rent insurance and such other insurance as Landlord shall elect to carry; cleaning costs for the common areas of the Building and/or Landlord's Property, including without implied limitation, the facade, windows and sidewalks and all Building common areas; costs incurred for the operation, service, maintenance, inspection, repairs and alterations of and to the Building, and the heating, air-conditioning (if any), ventilating, plumbing, electrical and elevator systems (if any) of the Building, and the cost of labor, materials, supplies and equipment used in connection with all of the aforesaid items; management fees of the managing agent (if any) for the Building and the Landlord's Property; all costs incurred by Landlord to comply with governmental requirements whether Federal, State, or Municipal; capital expenditures necessitated by casualties to the extent the same are not covered by insurance; and reasonable legal and accounting fees and expenses incurred in connection with the management and operation of the Building and Landlord's Property; but there shall be excluded from such Operational Expenses the initial costs of equipment properly chargeable to the capital account and depreciation of the original cost of constructing the buildings upon the Landlord's Property and the common area appurtenant thereto.

Tenant's Proportionate Share of the Operational Expenses shall be paid in monthly installments, in the amount estimated by the Landlord from time to time, in

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advance of the first day of each and every calendar month during the term of this Lease. Within one hundred twenty (120) days after the end of each calendar year during the term hereof, Landlord shall furnish to Tenant a statement in reasonable detail setting forth the computation of such total costs and expenses; thereupon there shall be a prompt adjustment between Landlord and Tenant, with payment to, or repayment by, Landlord, as the case may require, to the end that Landlord shall receive the entire amount of Tenant's Proportionate Share of said costs and expenses, and no more. Notwithstanding the foregoing, in the event that Tenant shall have paid to Landlord an amount in excess of Tenant's Proportionate Share of Operational Expenses, Landlord may, but shall not be obligated to, credit any such excess payments against monthly installments of Operational Expenses next coming due during the term hereof.

ARTICLE VII - MAINTENANCE AND REPAIRS. The Landlord agrees at its own expense, expeditiously after receipt of notice from Tenant, to make all repairs to the structure, exterior walls, walls between the Demised Premises and the adjoining premises, foundation, common areas (including the glass entrance to the Building) and roof of the Building, unless such repairs or alterations shall be made necessary (i) by reason of any alterations, additions or improvements made by the Tenant, (ii) by reason of any special use to which the Demised Premises are put by the Tenant, (iii) by reason of the negligent or willful misconduct of the Tenant or anyone claiming under Tenant or (iv) by the failure of the Tenant to perform or observe some agreement or condition contained in this Lease on the part of the Tenant to be performed or observed, in which event the Tenant shall promptly make such repairs or alterations at its own expense. As used in this Section, the expression "structure" means supporting columns and beams and the expression "exterior walls" does not include windows, doors, glass, or the frames of windows. All repairs which are required to be made to the Demised Premises and which the Landlord is not obligated to make pursuant to this Section shall be made by the Tenant, unless herein otherwise specifically provided.

ARTICLE VIII - LANDLORD'S RIGHT OF ENTRY. The Landlord and its agents shall have the right to enter into and upon the Demised Premises or any part thereof during regular business hours, and in case of emergency, at any time:

(a) to examine the same;

(b) to order the removal of any signs not affixed in accordance with the terms of this Lease (or to remove the same if said order shall not be complied with within ten (10) days),

(c) to make any repairs or alterations to the Demised Premises as the Landlord shall be expressly required to make or shall otherwise elect to make, but nothing herein contained shall obligate the Landlord to make any repairs or alterations to the Demised Premises except as in this Lease otherwise provided; and

(d) to make any repairs, alterations or improvements or additions to the Building and the Landlord's Property and to put through the Demised Premises such

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pipes, wires, conduits and appurtenances as may be necessary for effecting such repairs, alterations, improvements or additions, provided that the same shall not interfere unreasonably with the business of the Tenant and shall not unreasonably restrict the space usable by the Tenant; and the Tenant shall not be entitled to any abatement or reduction of rent by reason thereof. The Tenant shall permit inspection of the Demised Premises at reasonable hours to prospective purchasers and mortgagees, and, during the last twelve (12) months of the term of this Lease, the Tenant shall permit inspection of the Demised Premises at reasonable hours to prospective tenants and shall permit the usual "To Let" or "For Sale" signs to be placed on the property; provided, however, that such inspection or inspections shall not interfere unreasonably with the business being conducted on the Demised Premises.

ARTICLE IX - DEFAULT. In the event that:

(1) the Tenant should default in the payment of the annual rent, or additional rent or any part thereof, and such default continues for five (5) days after the due date thereof; or

(2) the Tenant should default in the performance of any of the other terms, covenants and conditions in this Lease contained and on its part to be kept and performed and fail to correct such default within twenty (20) days after the receipt of written notice from the Landlord designating the nature of such default, or if by reason of the nature of such default it cannot be corrected within said twenty (20) days, Tenant fails to commence to correct such default within said twenty
(20) days and thereafter diligently prosecute the correction of the same to completion; or

(3) if any assignment shall be made by the Tenant of its property for the benefit of creditors; or

(4) if the Tenant's leasehold interest shall be taken on execution; or

(5) if proceedings shall be commenced by the Tenant in court of bankruptcy or insolvency; or

(6) if the Tenant shall be declared bankrupt or insolvent according to law; or

(7) if any proceedings shall be commenced against the Tenant in a court of bankruptcy or insolvency and such proceedings shall not have been dismissed within sixty (60) days;

then in any of said cases, Landlord shall have the right, at its sole election either (i) without necessity or requirement for making an entry, to terminate this Lease by notice in writing to Tenant, which shall take effect on the date, prior to the expiration of

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the term of this Lease, specified in Landlord's notice or (ii) enter into and take possession of the Demised Premises (or any part thereof in the name of the whole) without demand or notice and repossess the same as of the Landlord's former estate, expelling Tenant and those claiming under it, forcibly, if necessary, without being deemed guilty of any manner of trespass, provided that such repossession shall not be construed to effect a termination of this Lease, unless Landlord so declares as part of such entry, or sends Tenant a written notice of termination as provided above. Any such termination or entry shall be without prejudice to any remedy for arrears of rent or preceding breach of contract.

If the Landlord shall terminate this Lease, or take possession of the Demised Premises, as aforesaid, Tenant shall indemnify Landlord each month against all loss of rent and all damages which Landlord may incur by reason of any such termination between the time of termination and the expiration of the term of the Lease, or at the election of Landlord, exercised at the time of the termination or at any time thereafter, Tenant shall indemnify Landlord each month until the exercise of the election against all loss of rent and other obligations which Landlord may incur by reason of such termination during the period between the time of the termination and the exercise of the election, and upon the exercise of the election, Tenant shall pay to Landlord as damages such amount as at the time of the exercise of the election represents the amount by which the rental value of the Demised Premises for the period from the exercise of the election until the expiration of the term shall be less than the amount of rent and other payments provided herein to be paid by Tenant to Landlord during said period. It is understood and agreed that at the time of the termination or at any time thereafter Landlord may rent the Demised Premises, and for a term which may expire after the expiration of the term of this Lease, without releasing Tenant from any liability whatsoever, that Tenant shall be liable for any reasonable expenses incurred by Landlord in connection with obtaining possession of the Demised Premises, with removing from the Demised Premises property of Tenant and persons claiming under it (including warehouse charges), with putting the Demised Premises into good condition for reletting and with any reletting, including, but without limitation, reasonable attorneys' fees and brokers' fees, and that any monies collected from any reletting shall be applied first to the foregoing expenses and then to the payment of rent and all other payments due from Tenant to Landlord.

In lieu of the foregoing, the Landlord may elect to receive from the Tenant and the Tenant agrees to pay to the Landlord, on demand, as liquidated damages, a sum equal to the amount by which the sum of the rent, additional rent and other payments called for under this lease for remainder of the term exceeds the fair rental value of Demised Premises for the remainder of the term.

The word "Tenant" as used in clauses (3), (4)Less than (5), (6) and (7) of this ARTICLE IX shall be deemed to mean either (a) the Tenant or (b) the guarantor, if any, of the Tenant's obligations under this Lease.

ARTICLE X - CONDEMNATION, EMINENT DOMAIN. If, after the execution of this Lease and before the expiration of the term hereof, any portion of the Demised Premises shall be taken by right of eminent domain that reduces the Demised

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Premises to less than 15,000 rentable square feet of space, then this Lease and the term hereof shall terminate as of the time when the Landlord shall be divested of its interest in the Demised Premises, and annual fixed rent and all additional rent and other charges payable hereunder shall be apportioned and adjusted as of the date of termination.

If the term of this Lease shall not be terminated as aforesaid, then the term of this Lease shall continue in full force and effect, and the Landlord shall, within a reasonable time after possession is required for public use (subject to delays due to difficulty in obtaining labor, materials, equipment, government restrictions, labor difficulties, fires or to any other cause beyond the Landlord's control and subject to the provisions of the applicable building and zoning laws) repair and rebuild what may remain of the Demised Premises so as to put the same into condition for use and occupancy by the Tenant. A just proportion of the annual rent reserved herein, according to the nature and extent of the injury to the Demised Premises, shall be suspended or abated until what may remain of the Demised Premises shall be put in such condition by the Landlord, and thereafter a just proportion of the annual rent reserved herein, according to the nature and extent of the part so taken, shall be abated for the balance of the term of this Lease; provided, however, that in connection with the above obligation to repair and rebuild Landlord shall have no obligation to expend more than the amount actually recovered as an award for such taking and made available by any mortgage of the building and/or the Landlord's Property.

The Landlord reserves to itself, and the Tenant assigns to the Landlord, all rights to damages accruing on account of any taking under the power of eminent domain or by reason of any act of any public or quasi-public authority for which damages are payable. The Tenant agrees to execute such instruments of assignment as may be reasonably required by the Landlord in any proceeding for the recovery of such damages if requested by the Landlord, and to turn over to the Landlord any damages that may be recovered in such proceeding. It is agreed and understood, however, that the Landlord does not reserve to itself, and the Tenant does not assign to the Landlord, any damages payable for reimbursement of the cost of moving Tenant's stock, fixtures and appliances to the extent that such claim may be made independently by Tenant directly against any taking authority without regard to and without diminishing Landlord's claim.

ARTICLE XI - DAMAGE AND/OR DESTRUCTION. In the event that the Demised Premises shall be damaged or destroyed by fire, the elements, or other casualty, then Tenant shall give immediate notice thereof to Landlord, and, except as hereinafter otherwise provided, the Demised Premises shall be repaired or restored by the Landlord as speedily as possible (but due allowance shall be made for any reasonable or unavoidable delay arising in connection with the adjustment of the fire loss or inability to procure labor or materials or any other cause beyond the Landlord's control); provided, however, that in no event shall Landlord be obligated (i) to expend for such repairs or restoration more than the amount of proceeds of insurance actually recovered and made available by any mortgagee of the Building or the Landlord's Property, nor shall Landlord be obligated to repair or restore if not allowed by applicable zoning, building or other such laws or (ii) to repair, reconstruct or replace Tenant's leasehold improvements, furniture, fixtures, equipment or other personal property or goods located upon or within the

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Demised Premises. In the event that the damage to the Demised Premises should be so extensive as to render the whole or any part thereof untenantable and unsuitable for use and occupation by the Tenant, a just proportion of the annual fixed rent hereinafter reserved, according to the nature and extent of the injury to the Demised Premises, shall be suspended or abated until the Demised Premises, shall be suspended or abated until the Demised Premises shall have been repaired or restored by the Landlord (to the extent of the insurance proceeds recovered and made available by Landlord's mortgagee(s) as aforesaid) to substantially the same condition they were in immediately prior to such casualty.

Notwithstanding anything contained in the foregoing paragraph to the contrary, it is expressly agreed that if the Demised Premises are damaged or destroyed to the extent of fifty percent (50%) or more of the insurable value of the same, then the Landlord may terminate this Lease and the term hereof. In the event the Building is damaged to the extent of thirty-three and one-third percent (33 1/3%) or more of the insurable value of the same (regardless of whether or not the Demised Premises shall be damaged or destroyed), then the Landlord may terminate this Lease and the term hereof. In either case, the election to terminate shall be by a notice given to the Tenant within sixty (60) days after such damage or destruction and in the event of such notice this Lease shall terminate on the thirtieth day after the giving of such notice of termination.

Notwithstanding anything in this Article contained in the contrary, it is expressly agreed and understood that if during the last Lease Year of the term of this Lease the Demised Premises are damaged or destroyed to the extent of fifteen percent (15%) or more of the insurable value of the same, then the Landlord may terminate this Lease and the term hereof by notice given to the Tenant within sixty (60) days after such damage or destruction and in the event of such notice this Lease shall terminate on the thirtieth day after the giving of the notice of such termination.

ARTICLE XII - QUIET ENJOYMENT. It is agreed that upon the Tenant, paying the rent reserved and performing and observing the terms, agreements, obligations, conditions, and provisions herein on its part to be performed and observed, shall and may peaceably and quietly have, hold and enjoy the Demised Premises during the term hereof without any manner of hindrance or molestation from the Landlord, subject to the terms and conditions of any mortgages of record now or at any time hereafter a lien or liens on the Building and/or the Landlord's Property as to which mortgages this Lease is subordinate, subject to the powers or condemnation and eminent domain of public and quasi-public authorities, and subject further to any rights of the Landlord with respect to any provision of this Lease.

ARTICLE XIII - RIGHT TO DEFAULT. If Tenant shall default in the performance or observance of any agreement or condition in this Lease contained on its part to be performed or observed other than an obligation to pay money, and shall not cure such default within twenty (20) days after written notice from Landlord, specifying the default (or if such default is not capable of being cured within twenty (20) days, if Tenant shall not within said period commence to cure such default and thereafter prosecute the curing of such default to completion with due diligence), Landlord may, at

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its option and without the obligation to do so, without waiving any claim for damages for breach of agreement, at any time thereafter cure such default for the account of Tenant, and any amount paid or any contractual liability incurred by Landlord in so doing shall be deemed paid or incurred for the account of Tenant, and Tenant hereby agrees to reimburse Landlord therefore or save Landlord harmless therefrom; provided that Landlord may cure any such default as aforesaid prior to the expiration of said grace period but after notice to Tenant, if the curing of such default prior to the expiration of said grace period is reasonably necessary to protect the real estate or Landlord's interest therein, or to prevent injury or damage to persons or property. If Tenant shall fail to reimburse Landlord upon demand for any amount paid for the account of Tenant hereunder, said amount shall be added to and become due together with the next payment of rent due hereunder.

ARTICLE XIV - APPLICABLE LAW AND CONSTRUCTION. This Lease shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts. If any term, covenant, condition or provision of this Lease or the application thereof to any person or circumstances shall be declared invalid, or unenforceable by the final ruling of a court of competent jurisdiction having final review, the remaining terms, covenants, conditions and provisions of this Lease and their application to persons or circumstances shall not be affected thereby and shall continue to be enforced and recognized as valid agreements of the parties, and in the place of such invalid or unenforceable provision, there shall be substituted a like, but valid and enforceable provision which comports to the findings of the aforesaid court and must nearly accomplishes the original intention of the parties. It is the intention of the parties hereto that if any provision of this Lease is capable of two constructions, one of which would render the provision void and the other of which would render the provision valid, then the provision shall be construed in accordance with the construction which renders the provision valid.

There are no oral or written agreements between Landlord and Tenant affecting this Lease. This Lease represents the entire Agreement between the parties and it is agreed that no representations, warranties or understandings other than those expressly set forth herein, have been made, and if so made, were neither material nor relied upon.

This Lease may be modified only by instruments in writing executed by Landlord and Tenant, and no act or omission of any employee or agent of the Landlord shall alter, charge or modify any of the provisions hereof. It shall be an absolute condition precedent in each instance that such written modification be produced before either party may legally assert, rely upon or establish any modification of this Lease.

The titles of the several Articles contained herein are included for convenience and reference only and the words contained therein shall in no way be held or deemed to define, limit, describe, explain, modify, amplify and/or add to the interpretation, construction, or meaning of any provision of, or the scope or intent of, this Lease.

The words "Landlord" and "Tenant" and the pronouns referring thereto, as used in this Lease, shall mean, where the context requires or admits, the persons named herein

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as the Landlord and as the Tenant, respectively, and their respective heirs, legal representatives, subsidiaries, successors and assigns, irrespective of whether singular or plural, masculine, feminine or neuter.

ARTICLE XV - REMEDIES CUMULATIVE. No mention of this Lease of any specific right or remedy shall preclude the Landlord from exercising any other right or from maintaining any action, either at law or in equity. The remedies available to the Landlord under this Lease, and at law or in equity, shall be cumulative and, except as otherwise specifically provided in this Lease, the exercise of one remedy shall not constitute an election or waiver of any other remedy. In addition to other remedies provided in this Lease, the Landlord shall be entitled to the restraint by injunction of the violation or attempted or threatened violation of any covenants, conditions or provisions of this Lease or to a decree compelling specific performance of any such covenants, conditions or provisions.

ARTICLE XVI - WAIVER. No assent, express or implied, by the Landlord to any breach of any agreements or conditions herein contained on the part of the other to be performed or observed, and no waiver, express or implied, of any such agreement or condition shall be deemed to be a waiver of or assent to any succeeding breach of the same or any other agreement or condition; the acceptance by the Landlord as to any breach shall not be construed as waiving any of the Landlord's rights hereunder unless such waiver is in writing. No payment by the Tenant or acceptance by the Landlord of a lesser amount than will be due the Landlord from the Tenant shall be deemed to be anything but payment on account, and the acceptance by the Landlord of a check for a lesser amount with an endorsement or statement thereon or upon a letter accompanying said check that said lesser amount is payment in full shall not be deemed an accord and satisfaction, and the Landlord may accept said check without prejudice to recover the balance due or pursue any other remedy.

ARTICLE XVII - SUBORDINATION. This Lease is and shall be subject and subordinate to any mortgage, deed of trust or any instrument in the nature of a mortgage now existing or hereafter placed upon the Demised Premises, the Building and/or the Landlord's Property by the Landlord. Tenant agrees to execute such documents as may be reasonably required to effectuate this subordination. Tenant agrees to make such changes in this Lease as may be reasonably required by the holders of any mortgage upon the Demised Premises, the Building, and/or the Landlord's Property or any transferee which may purchase all or a substantial part of Landlord's interest in the Demised Premises, the Building, and/or the Landlord's Property; provided that such changes may not increase the rent, additional rent or other payments due hereunder or otherwise materially affect the obligations of Tenant hereunder.

After receiving written notice from any person, firm, or other entity, that it holds a mortgage (which term shall include a deed of trust) which includes as part of the mortgaged premises the Demised Premises, Tenant shall, so long as such mortgage is outstanding, be required to give to such holder the same notice as is required to be given to Landlord under the terms of this Lease, but such notice may be given by Tenant to Landlord and such holder concurrently. It is further agreed that such holder shall have

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the same opportunity to cure any default, and the same time within which to effect such curing, as is available to Landlord; and if necessary to cure such a default, such holder shall have such access to the Demised Premises as shall be required in connection therewith.

ARTICLE XVIII - ASSIGNMENTS BY LANDLORD. With respect to any assignment by the Landlord of Landlord's interest in this Lease or the rent, additional rent and other payments payable hereunder, conditional in nature or otherwise, which assignment is made to the holder of any security interest in the Building or the Landlord's Property, the Tenant hereby agrees:

(i) that the execution thereof of any such assignment by the Landlord and the acceptance thereof by the holder shall never be deemed an assumption by such holder of the obligations of the Landlord hereunder, unless such holder shall, by written notice sent to the Tenant, expressly otherwise elect; and

(ii) that except as aforesaid, such holder shall be treated as having assumed the Landlord's obligations hereunder only upon the foreclosure of such holder's mortgage or security interest, if any, the taking of possession of the Demised Premises, the Building, or the Landlord's Property and upon written notice to the Tenant.

ARTICLE XIX - LIMITATION OF LANDLORD'S LIABILITY. If at any time during the term of this Lease, the landlord's interest hereunder shall be held by anyone acting in a fiduciary capacity, then notwithstanding any other provision of this Lease, Landlord's obligations hereunder shall not be binding upon such fiduciary acts, but only upon such fiduciary in that capacity and upon the trust estate.

The covenants of Landlord contained in this Lease shall be binding upon each party holding the landlord's interest herein only with respect to breaches occurring during the time of that party's ownership of the landlord's interest hereunder. Nothing included in the terms of this Lease shall preclude the Landlord from transferring in any manner all or any portion of the landlord's interest under this Lease. In addition, Tenant specifically agrees to look solely to Landlord's interest in the Landlord's Property for the satisfaction of any claim or judgment against Landlord, it being specifically agreed that neither Landlord, nor any person, partner, entity, firm or other beneficial owner of Landlord, nor anyone claiming under Landlord shall ever be otherwise liable for any such judgment. It is further understood and agreed that with respect to any services to be furnished by Landlord to Tenant, Landlord shall in no event be liable for failure to furnish the same when prevented from so doing by strike, lockout, breakdown, accident, order or regulation of or by any governmental authority, or failure of supply, or inability by the exercise of reasonable diligence to obtain supplies, parts, or employees necessary to furnish such services, or because of war or other emergency, or for any cause beyond the Landlord's reasonable control, or for any cause to do any act or neglect of the Tenant or its servants, agents, employees, licensees, or any person, claiming by, through or under the Tenant, or any termination for any reason of Landlord's occupancy of the premises from which the service is being supplied by Landlord, and in no event shall the Landlord ever by liable to Tenant for any indirect or consequential damages.

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ARTICLE XX - PROVISIONS BIDING, ETC. Except as hereinafter provided otherwise, the agreements and conditions in this Lease contained on the part of the Landlord to be performed and observed shall be binding upon the Landlord and its successors and assigns and those claiming through or under the Landlord and shall inure to the benefit of the Tenant and its heirs, legal representatives, successors and assigns (and those claiming through or under the Tenant); and the agreements and conditions on the part of the Tenant to be performed and observed shall be binding upon the Tenant and its heirs, legal representatives, successors and assigns (and those claiming through or under the Tenant) and shall inure to the benefit of the Landlord and its heirs, legal representatives, successors and assigns (and those claiming through or under the Landlord).

Each term and each provision of this Lease to be performed by Tenant shall be construed to be both a covenant and a condition. The reference contained to successors and assigns of Tenant is not intended to constitute a consent to assignment by Tenant, but as reference only to those instances in which Landlord may later give written consent to a particular assignment as required by the provisions of ARTICLE V hereof.

ARTICLE XXI - PERMITTED USES. The Tenant covenants and agrees to use the Demised Premises only for light manufacturing, research and development and sales and service of electronic equipment (but not to the general public) and general office use, in any event subject to the Rules and Regulations (herein the "Permitted Uses" and for no other purposes.

ARTICLE XXII - CONDITION OF THE DEMISED PREMISES WHEN SURRENDERED. Upon the termination or expiration of this Lease, the Tenant shall peaceably and quietly surrender possession of the Demised Premises to the Landlord in broom-clean condition and in the same good order and repair in which the Tenant is obligated to keep and maintain the Demised Premises by the provisions of this Lease, normal wear and tear excepted. Any and all alterations, additions and improvements which may have been made to or installed by the Tenant upon or within the Demised Premises and which are in any manner attached to the floors, walls and ceilings of the Demised Premises, shall remain upon or within the Demised Premises and at the termination of this Lease shall be surrendered with the Demised Premises as a part thereof and shall become the property of the Landlord, unless the Landlord shall specifically direct the Tenant to remove any such alternations, additions or improvements. Upon such direction, Tenant shall, at its sole cost and expense, remove such property and promptly repair any and all damages which may be caused by or result from either the original installation or from the removal of such property from the Demised Premises.

All fixtures, signs, furniture, equipment and personal property which may be located upon or within the Demised Premises (and are not subject to the provisions of the foregoing paragraph), may, and at the Landlord's request must, be removed by the Tenant from the Demised Premises upon the expiration or sooner termination of this Lease. Furthermore, the Tenant hereby agrees to promptly repair any and all damage which may be caused by or result from the installation or placement of such property upon or within

25

the Demised Premises or by the removal of such property from the Demised Premises. Any property not so removed shall be deemed abandoned and may be removed and disposed of by Landlord in such manner as Landlord shall determine and Tenant shall pay Landlord the entire cost and expense incurred by the Landlord in effecting such removal and disposition and in making any incidental repairs and replacements to the Demised Premises and for use and occupancy during the period after the expiration of the term of this Lease and prior to Tenant's performance of its obligations under this Article. Tenant shall and does hereby indemnify Landlord against all loss, cost and damage resulting from Tenant's failure and delay in surrendering the Demised Premises as herein above provided.

The delivery of keys to or acceptance thereof by any employee of the Landlord shall not operate as a termination of this Lease or a surrender of the Demised Premises.

ARTICLE XXIII-SUBROGATION. The Landlord hereby releases the Tenant from any and all liability for any loss or damage caused by fire or any of the extended coverage casualties covered by Landlord's insurance, even if such fire or other casualty shall be brought about by the fault or negligence of the Tenant or its agents, provided; however, the this release shall be in force and effect only with respect to loss or damage occurring during such time as the Landlord's policies of fire and extended coverage insurance shall contain a clause to the effect that his release shall not affect said policies or the right of the Landlord to recover thereunder. The intent of this Article is to preclude any action by Landlord's insurance carrier against Tenant under any right of subrogation, but it is expressly understood that nothing contained in this Article shall be deemed a release or waiver of any other rights which Landlord may have against Tenant under this Lease including without limitation, the right to seek damages in excess of insurance proceeds where legally entitled. The Landlord agrees that its fire and extended coverage insurance policies will include such a clause so long as the same is includable without extra cost. If extra cost is chargeable therefor, the Landlord will advise the Tenant thereof and of the amount thereof. The Tenant, at its election, may pay the same, or waive the benefit of such a clause.

The Tenant hereby releases the Landlord from any and all liability for any loss or damage caused by fire or any of the extended coverage casualties covered by Tenant's insurance, even if such fire or other casualty shall be brought by the fault or negligence of the Landlord or its agents; provided, however, this release shall be in force and effect only with respect to loss or damage occurring during such time as the Tenant's policies of fire and extended coverage insurance shall contain a clause to the effect that this release shall not affect said policies or the right of the Tenant to recover thereunder. The intent of this Article is to preclude any action by Tenant's insurance carrier against Landlord under any right of subrogation, but it is expressly understood that nothing contained in this Article shall be deemed a release or waiver of any other rights which Tenant may have against Landlord under this Lease including without limitation, the right, subject to the limitation set forth in ARTICLE XIX hereof, to seek damages in excess of insurance proceeds where legally entitled. The Tenant agrees that its fire and extended coverage insurance policies will include such a clause so long as the same is includable without extra cost, or if extra cost is chargeable therefor, the Tenant will advise the Landlord

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thereof and of the amount thereof. The Landlord, at its election, may pay the same, or waive the benefit of such a clause.

ARTICLE XXIV - NOTICES. All notices required or permitted to be given hereunder shall be in writing and delivered by hand, telecopier, overnight delivery carrier (with proof of delivery, such as Federal Express) or mailed postage prepaid, by registered or certified mail, return receipt requested, if sent to the Tenant, the same shall be addressed if to the Tenant:

Bruker Analytical Systems, Inc. 15 Fortune Drive
Billerica, MA 01821

or to such other address as the Tenant may hereafter designate in writing, and if sent to the Landlord:

Bruker Instruments, Inc.
44 Manning Road
Billerica, MA 01821
Attn: Treasurer
FAX: (978) 667-9580

with a copy to:

George Woron, Esq.
75 State Street - Suite 1520
Boston, MA 02109
FAX: (617) 439-0134

or in the case of either party to such other address as shall be designated by written notice given to the other party. Any such notice shall be deemed given when so delivered by hand or if so mailed, when deposited with the U.S. Post Service.

ARTICLE XXV - ESTOPPEL CERTIFICATE. The Tenant agrees from time to time, within ten (10) days after a request by Landlord, to execute, acknowledge and deliver to Landlord, any prospective purchaser or mortgagee or other party designated by the Landlord, a written statement certifying (which statement may be relied upon by any party receiving such statement) that this Lease is then in full force and effect as modified and stating the modifications) and that the Landlord is not in default hereunder (or if such shall not be the case, to specify any default then existing).

ARTICLE XXVI - BROKERAGE. The Tenant warrants and represents that it has not dealt with any broker or agent in connection with this Lease and agrees to hold harmless and indemnify the Landlord of and from any and all claims for any brokerage or finder's fee or compensation attributable to dealings with the Tenant, together with any and all expenses incurred by Landlord in disputing such claims and in enforcing this indemnification, including without limitation, reasonable attorneys' fees and expenses.

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ARTICLE XXVII - LEASE NOT TO BE RECORDED. Tenant agrees that it shall not record this Lease.

ARTICLE XXVIII - AUTHORITY TO EXECUTE LEASE. The person signing this Agreement on behalf of the Tenant materially represents that the Tenant is a duly organized and existing corporation and has taken all steps necessary or desirable to authorize the execution of this Lease and that upon the execution hereof by him on behalf of the Tenant, this Lease shall be binding and enforceable upon the Tenant.

WITNESS the execution of this instrument as a sealed instrument as of the day and year first above written.

Witness:                          LANDLORD:
                                  BRUKER INSTRUMENTS, INC.

                                  By: /s/  Dirk D. Laukien
                                      --------------------------------
                                      Dirk D. Laukien, Vice President,
                                      Duly authorized

Witness:                          TENANT:
                                  BRUKER ANALYTICAL
                                   SYSTEMS, INC.

                                  By: /s/  David E. Plunkett
----------------------------         ---------------------------------
                                     David Plunkett, its Treasurer,
                                     hereunto duly authorized

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Attachment A

[Diagram]

29

Exhibit 10.7

ITMS COLLABORATION AGREEMENT

BY AND BETWEEN

HEWLETT-PACKARD COMPANY

AND

BRUKER DALTONIK GMBH


CONFIDENTIAL HEWLETT-PACKARD - BRUKER

                                TABLE OF CONTENTS

RECITALS                                                                     1
ARTICLE 1 - DEFINITIONS                                                      2
ARTICLE 2 - MANAGEMENT OF THE RELATIONSHIP AND COMMUNICATIONS
BETWEEN THE PARTIES                                                          4
ARTICLE 3 - OVERVIEW OF THE GEMINI PROGRAM                                   6
ARTICLE 4 - SPECIFICATIONS FOR THE GEMINI / GEMINI R&D MS                    7
ARTICLE 5 - DESIGN AND DEVELOPMENT OF THE GEMINI / GEMINI R&D MS             8
ARTICLE 6 - MARKETING OF THE GEMINI / GEMINI R&D MS                         10
ARTICLE 7 - MANUFACTURING AND PROCURING COMPONENTS FOR THE
              GEMINI / GEMINI R&D MS                                        11
ARTICLE 8 - SALES OF COMPONENTS AND OF THE GEMINI MS AND GEMINI
R&D MS                                                                      15
ARTICLE 9 - HP'S MINIMUM PURCHASE COMMITMENT, INITIAL PURCHASE
ORDER AND DISPOSITION OF HP'S SECURITY DEPOSIT/DOWN PAYMENT                 19
ARTICLE 10 - WARRANTIES AND SUPPORT                                         20
ARTICLE 11 - NEW DEVELOPMENT PROJECTS                                       21
ARTICLE 12 - EMPLOYEE RELATIONS                                             22
ARTICLE 13 - CONFIDENTIAL INFORMATION                                       23
ARTICLE 14 - DEVELOPMENT INVENTIONS AND OTHER INTELLECTUAL
              PROPERTY CREATED DURING DEVELOPMENT PROGRAMS                  24
ARTICLE 15 - REPRESENTATIONS, WARRANTIES AND DISCLAIMERS                    29
ARTICLE 16 - CONFLICTS WITH THIRD PARTY INTELLECTUAL PROPERTY
              RIGHTS                                                        29
ARTICLE 17 - RESPONSIBILITIES FOR SALES OF ESQUIRE-LC SYSTEMS               30
ARTICLE 18 - DISPOSITION OF RESEARCH FUNDS                                  32
ARTICLE 19 - PUBLICITY                                                      33
ARTICLE 20 - TERM, TERMINATION AND EXCLUSIVITY                              33
ARTICLE 21 - DISPUTES BETWEEN THE PARTIES                                   38
ARTICLE 22 - MISCELLANEOUS                                                  39
EXECUTION                                                                   41


41BRUKER-HP Collaboration Agreement    ii


ITMS COLLABORATION AGREEMENT

This Agreement is made with an Effective Date of April 28, 1999 by Hewlett-Packard Company, a Delaware corporation with offices at 1601 California Avenue, Palo Alto, CA 94304-1126 ("HP"); and Bruker Daltonik GmbH, a corporation organized and existing under the laws of Germany with offices at Fahrenheitstrasse 4, D-28359 Bremen, Germany ("Bruker"), formerly called Bruker-Franzen Analytik GmbH ("BFA").

RECITALS

A. HP is in the business of designing, manufacturing, and marketing analytical chemistry instruments such as liquid chromatographs, gas chromatographs, and mass spectrometers; analytical chemistry systems that combine a liquid or gas chromatograph with a mass spectrometer; and software tools for collecting and processing data in such systems. HP is a leader in developing low-cost mass spectrometers and technology for the ionization/interface stage of LC/MS systems. HP has considerable expertise in the design and manufacture of API ion sources.

B. Bruker is in the business of designing, manufacturing and marketing analytical chemistry instruments such as mass spectrometers and associated software. Bruker is a recognized leader in developing ion trap mass spectrometers. Bruker has considerable expertise in the design and manufacture of ion trap mass spectrometers and conventional nanoelectrospray ion sources.

C. HP and Bruker have complementary expertise. HP and BRUKER wish to develop a long-term collaboration in API-ITMS technology. HP and Bruker desire to serve their respective customers more effectively by collaborating on developing LC/MS() mass spectrometers, especially certain critical core components thereof, thereby enabling both parties to take advantage of the particular strengths, experience and superior competencies of each. HP and Bruker also recognize that by allocating responsibility for manufacturing components of mass spectrometers, the parties can take advantage of higher volume production, reducing the cost of the components to each party and enabling the parties to participate in a highly competitive market.

D. Bruker and HP entered into a certain BRUKER-HP ITMS Agreement dated January 19, 1996, which established a plan for developing (1) a product series (Esquire-LC ITMS) for market introduction in Fall 1996 and (2) a lower cost, higher volume product series (Gemini) for market introduction in January 1998. The BRUKER-HP ITMS Agreement has been amended twice: on March 14, 1997, (Amendments I and 2) and on September 1, 1997 (Amendment
3). Phase I of the program provided for in the ITMS Agreement, as amended, has been completed. The hardware development work under Phase 2 of the program is substantially complete. The software development work is progressing. The Esquire ITMS product series has been developed and the second generation product, called Esquire-LC, is currently being marketed by both parties. The Gemini mass spectrometer, which was to be developed in Phase 3, is still under development.

E. The Parties desire to continue the development of software for, and the manufacture and marketing of, the Esquire-LC ITMS system.

F. The parties now wish to recommit themselves and undertake to develop a re-defined Gemini / Gemini R&D MS and to allocate the necessary resources to complete this development.


CONFIDENTIAL HEWLETT-PACKARD - BRUKER

G. The parties wish to complete the set of specifications for the Gemini / Gemini R&D MS, and to adopt a plan for finalizing these specifications. The Parties also wish to allocate responsibility for designing, integrating, and manufacturing the various components of the Gemini/Gemini R&D MS. The Parties will sell these components and other parts to each other, allocate responsibility for integrating the various components and testing the integrated Gemini / Gemini R&D MS, establish the terms and conditions of sale of the Gemini / Gemini R&D MS and certain components thereof, and provide for long term support of the Gemini / Gemini R&D MS.

H. Because circumstances have changed substantially from what was contemplated when the ITMS Agreement was signed, the Parties wish to replace the ITMS Agreement, as amended, with this agreement.

TERMS AND CONDITIONS

NOW, THEREFORE, in consideration of the mutual covenants expressed in this Agreement, HP and Bruker agree as follows:

ARTICLE I - DEFINITIONS

1.1 Affiliate means a business entity which controls, is controlled by, or is under common control with a Party. "Control" means ownership or control of more than 50% of the stock entitled to vote for the election of directors, or in the case of a non-corporate entity an equivalent majority control. Such entity will be considered an Affiliate only so long as such control exists.

1.2 Agreement means this ITMS Collaboration Agreement, comprising this document and the appendices identified in Section 22 .

1.3 APCI means atmospheric pressure chemical ionization.

1.4 API means atmospheric pressure ionization, the process of producing ions at atmospheric pressure and then sampling the ions through atmospheric interfaces.

1.5 Bruker Core Areas means the following areas: RF ITMS technology design or parts of an RF ITMS, RF ion trap, and methods of operating an RF ion trap; electronics, firmware and software for RF ion trap control and detection and acquisition of MS, MS/MS and MS(n) data.

1.6 Engineering Collaboration Period means the period of time during which the Parties collaborate on the joint development of ITMSs, including Esquire, Esquire-LC, Gemini/Gemini R&D, [*](1), and any other future ITMS jointly developed hereunder. The Engineering Collaboration Period is specified and determined in Article 20. 1.

1.7 Esquire-LC means the API-ITMS co-developed by the Parties under the Old Agreement.


(1) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

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CONFIDENTIAL HEWLETT-PACKARD - BRUKER

1.8 ESI means electrospray ionization.

1.9 Gemini is the code name given to (1) the project to develop high-performance, rugged, easy-to-use, relatively low cost, bench-top, ITMSs for high performance liquid chromatography with MS('~ capability; (2) the ITMSs that are expected to result from such project; and(3) the overall program that includes manufacturing and marketing, as well as the development, of such ITMSs.

1.10 Gemini NIS is the internal code name for the API-ITMS that the Parties will develop and manufacture for HP in accordance with this Agreement.

1.11 Gemini R&D NIS is the internal code name for an alternative configuration of the Gemini MS that the Parties will develop and manufacture for Bruker in accordance with this Agreement.

1.12 HP Core Areas means the following areas: conventional on-line electrospray and APCI generation of ions but excluding nano-electrospray; as reduced to practice in an ITMS product.

1.13 Intellectual Property Rights means the rights under patents, patent applications, and copyrights, and the rights in any industrial designs or trade secrets recognized by law.

1.14 ITMS means radio frequency ion trap mass spectrometer.

1.15 LCIMS means a mass spectrometer designed to work with a liquid chromatograph.

1.16 MS(n) means multiple stages of mass spectrometry (where n = the number of stages) in which there is a collision or reaction between each stage of mass analysis.

1.17 Old Agreement means the "BRUKER-HP ITMS AGREEMENT between Bruker-Franzen Analytik GmbH and Hewlett-Packard Company" dated January 19, 1996, together with Amendments I and 2 thereto, dated March 14, 1997, and Amendment 3, dated September 1, 1997.

1.18 Party and Parties refer to HP and Bruker as the context requires.

1.19 Qualified New Lead means the identification of a prospective new customer who is presented as interested in buying a product and who either has the authority to buy the product or can authorize the purchase of the product. A lead will be considered new if the selling Party who receives the lead has not had any contact with the individual (or his / her predecessor) during the 12 months prior to receiving the lead.

ARTICLE 2 - MANAGEMENT OF THE RELATIONSHIP AND COMMUNICATIONS
BETWEEN THE PARTIES

2.1 Designation of Key Personnel. Bruker will designate appropriate persons to serve as its Program Manager, Product Manager, Project Manager, and Business Manager. HP will designate appropriate persons to serve as its Program Manager, Product Manager, Project Manager, and Business Manager. Each Party also may designate one or more Project Leaders.

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CONFIDENTIAL HEWLETT-PACKARD - BRUKER

2.2 Program Managers. The Program Managers will represent their respective Parties on all business and management issues. They will confer as needed to ensure that schedule delays and administrative issues are resolved; that inventions are being identified and reported; that intellectual property and confidentiality issues are properly addressed ; and that other activities are proceeding in accordance with this the Agreement. The Program Managers will ensure that all issues relating to the manufacture and delivery of parts, components and finished instruments are addressed properly.

2.3 Product Managers. The Product Managers will be responsible for product strategy, product definition, marketing programs, product introduction plans, promotions, business plans, and pricing proposals.

2.4 Project Managers. The Project Managers will be responsible for answering technical questions, clarifying technical issues, and resolving schedule delays. They will confer regularly to ensure that all technical issues are resolved quickly; that all inventions are being identified and reported promptly; and that all intellectual property issues are addressed thoroughly. The Project Managers will confer whenever important issues arise in the development of the specifications or the prototypes of the Gemini MS / Gemini R&D MS.

2.5 Project Leaders. The Project Leaders will be responsible for receiving and answering technical questions and resolving technical issues in the areas for which they have been designated.

2.6 Business Managers. The Business Managers have the authority to resolve any issues that arise under this Agreement. The Business Managers will not be involved on a day-to-day basis, but they will confer as needed to ensure harmonious relationships between the Parties and their respective Program Managers, Product Managers, and Project Managers.

2.7 Changing Designations. Each Party may change its Project Leader, Program Manager, Product Manager, Project Manager, or Business Manager. Each Party will notify the other Party of such change in a timely manner.

2.8 Lifecycle Planning. In developing the Gemini / Gemini R&D MS and any other product under this Agreement the Parties will use "Lifecycle Planning," HP's product development methodology. As part of Lifecycle Planning, the Parties will prepare a set of Lifecycle Documents substantially like those that HP prepares for the development of a new product. To minimize redundant effort, the Parties will collaborate in developing those portions of their respective Lifecycle Documents that are common to the product development. The Parties will exclude from their jointly prepared Lifecycle Documents, and will not collaborate on or exchange, information about pricing, customer profiles, and markets. Lifecycle Planning prescribes well-defined phases in developing a new product, with checkpoints and formal reviews at the end of each phase. The Parties will conduct joint formal reviews at each check point to discuss all common issues on the development of the product. The Parties will conduct separately their independent formal reviews of the marketing and financial aspects of the development project. The Parties will develop consensual quality plans for hardware, software, and analytical performance. The Parties must sign off upon the completion of each phase before proceeding to the next phase. The Parties will revise their Project Plan and other Lifecycle Documents, as required to track the progress of the Project.

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CONFIDENTIAL HEWLETT-PACKARD - BRUKER

2.9 Meetings and Reviews. The Parties will conduct regular telephone conferences to discuss any corrective actions that may be required to keep the project on track. The Parties will conduct formal project reviews at checkpoint dates. These meetings will be face-to-face, by video conference, or by teleconference.

2.10 Notices. Any required notices will be given in writing. Notices may be delivered by any reasonable means and will be deemed to have been given on the date of actual receipt. Notices will be given to the Parties at the following addresses, or at such other addresses as the Parties may designate:

Hewlett-Packard Company             Bruker Daltonik GmbH
Attn.: Dick Begley                  Attn.: Dieter Koch
1601 California Avenue              Fahrenheitstrasse 4, D-28359
Palo Alto, CA 94304 USA             Bremen, Germany
Fax: 650 857-7029                   Fax: 49-421-2205-100

with a copy to:                     with a copy to
Hewlett-Packard Company             Bruker Daltonics, Inc.
Attn.: Managing Counsel(IP)         Attn.: Frank H. Laukien, Ph.D.
1501 Page Mill Road                 19 Fortune Drive, Manning Park
Palo Alto, CA 94304                 Billerica, MA 0 1821
Fax: 650 852-8063                   Fax: 987 667-0985

ARTICLE 3 - OVERVIEW OF THE GEMINI PROGRAM

3.1 Goals of the Gemini Project. As the first project under this Agreement, HP and Bruker undertake to develop the Gemini MS for HP and the Gemini R&D MS for Bruker. The Gemini MS will be a high-performance, rugged, easy-to-use, relatively low cost, bench-top ITMS for high performance liquid chromatography with MS(n) capability. The Gemini R&D MS will be a high-performance, flexible, research-oriented ITMS for high performance liquid chromatography with MS(') capability. The Gemini MS / Gemini R&D MS is described in more detail and the required functionality, features, and performance characteristics are set out in the Gemini Product Data sheet, which is incorporated herein as Appendix 1. The Gemini MS and the Gemini R&D MS will be based upon essentially the same components, but will have different configurations, as well as differences in names and appearances as provided in Section 5.7. HP and Bruker will complete the development so that HP and Bruker can begin shipping the Gemini MS and the Gemini R&D MS respectively to their demo centers and to their first customers between January 1, 2000 and March 1, 2000. The Gemini Project if successful may lead to the [*](2) as further described in Article 11. Improvements to or further developments of the Gemini MS / Gemini R&D MS after the product is introduced and first marketed, particularly any software developed during any continuing development program, may be made available as an upgrade to the Gemini MS / Gemini R&D MS or as part of the next generation platform, [*].

3.2 General Plan. The Parties will collaborate to complete a set of specifications for the Gemini MS and the Gemini R&D MS. The Parties will divide the responsibilities for designing, developing, manufacturing, assembling, integrating and testing the Gemini / Gemini R&D MS. The


(2) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

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CONFIDENTIAL HEWLETT-PACKARD - BRUKER

Parties will apply jointly for certifications of the product(s) in the names of both Parties. The specific responsibilities of each Party are described in the Gemini Project Plan, incorporated herein as Appendix 2. The Parties will carry out the development work, including the manufacture of prototype units and pilot run units, during the different phases of the development in accordance with the Gemini Project Plan.

ARTICLE 4 - SPECIFICATIONS FOR THE GEMINI / GEMINI R&D MS

4.1 Documents Comprising Set of Specifications. The Gemini MS will be defined, described and specified in accordance with the following set of specifications:

4.1.1 Gemini Product Data Sheet
4.1.2 Gemini Hardware External Reference Specification
4.1.3 Gemini Software External Reference Specification
4.1.4 Gemini Compatibility Matrix
4.1.5 Gemini Analytical Performance Quality Plan
4.1.6 Gemini Hardware Quality and Regulatory Plan
4.1.7 Gemini Software Quality Plan

4.2 Requirements and Desired Targets. In some instances the specifications will set out not only the requirements that the Gemini MS / Gemini R&D MS must meet, but also the desired targets that the Parties recognize as technically challenging. The Parties will meet all requirements and will use reasonable efforts to meet all desired targets. A Party will not be in default for failing to design and/or manufacture a component so that the Gemini MS meets a desired target.

4.3 Status and Further Efforts to Complete Set of Specifications. The set of specifications, while substantially complete, still have areas requiring further work. Items designated "TBD" (to be determined) will be the subject of further discussions. The Parties will endeavor to complete and formally adopt the specifications in April 1999. To that end, the Project Managers and the other affected technical personnel will confer at least bi-weekly by teleconference to discuss any open issues until the entire set of specifications is complete and the Parties have adopted them.

4.4 Formal Adoption of Specifications. When the Parties agree that a specification is complete, Bruker's and HP's Product Managers and the Project Managers will sign the specification to signify that the specification has been formally adopted.

4.5 Changes to Specifications After Adoptions. After a specification has been formally adopted, the Parties may change the specification only by mutual written agreement, signed by Bruker's and HP's Product Manners and Project Managers.

ARTICLE 5 - DESIGN AND DEVELOPMENT OF THE GEMINI / GEMINI R&D MS

5.1 Project Plan. The Gemini Project Plan (Appendix 2) sets out the plan for designing and developing the Gemini MS and the principal portions of the Gemini R&D MS, which are in common with the Gemini MS. The Gemini Project Plan allocates the various tasks between the Parties. Each Party will perform its tasks on the development of the Gemini MS / Gemini R&D MS in each of the phases of the Project in accordance with the Gemini Project Plan.

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CONFIDENTIAL HEWLETT-PACKARD - BRUKER

5.2 Individual and Collaborative Approach. Each Party has -well-defined tasks called out in the Gemini Project Plan. The Parties will work closely together on system design, integration and testing, particularly of software. The Parties also will work together as necessary to solve a problem or correct for a missed milestone or a delay in an element on the critical path. Because the various components of the Gemini MS will need to work together, a Party may offer suggestions respecting a component even if that Party is not responsible for developing that component. The Party responsible for developing the component will consider each suggestion and will adopt the suggestion unless in its judgment the suggestion is not feasible or reasonable.

5.3 HP's Core Responsibilities. HP will design and develop the APCI and ESI ionization sources of the Gemini MS / Gemini R&D MS, the high voltage supplies that drive the ion source, the ion optics that guide the ions to the mass analyzer section, the vacuum system, the mechanical packaging and exoskeleton, and the ChemStation software. HP also will design (or procure) the APCI hardware accessory and application software options for protein database searching, peptide tools analysis and deconvolution analysis. HP also will provide assistance to Bruker in the integration and testing of the hardware components that HP develops and the software that HP develops with the hardware components and software that Bruker develops, as and when it becomes necessary. The Gemini Project Plan contains a more detailed and complete itemization of the components for which HP is responsible.

5.4 Bruker's Core Responsibilities. Bruker will design and develop the ion trap mass analyzer portion of the Gemini MS, including the electronics, the algorithms, and the software for controlling the ion trap mass analyzer. Bruker will do the mechanical design of the internal tub supports. Bruker will develop the acquisition and control software and software for performing data analysis. Bruker also is responsible for overall integration of the Gemini MS, with HP assisting when and as necessary. Bruker also will design (or procure) the nanoelectrospray accessory and application software options for MS library searching, standalone data analysis, and identification- of-unknown-peaks ("LUMS Dissect") analysis. The Gemini Project Plan contains a more detailed and complete itemization of the components for which Bruker is responsible.

5.5 Joint Responsibilities. Bruker and HP are jointly responsible for ensuring that their respective components and contributions to Gemini MS/Gemini R&D MS are fully compatible so that when the kit components are integrated, the products will meet their set of specifications. Bruker and HP are jointly responsible for conducting and passing tests for the prototype and pilot run instruments and software.

5.6 Alternate Versions and Models of the Gemini MS. The Gemini MS will be designed, developed, and manufactured to include all essential features and functions so that HP may sell it as a stand-alone product and as part of a high-throughput, routine analysis system. The Gemini MS will bear the product identification and appearance or trade dress of an HP instrument. The Gemini MS is also intended to serve as a core platform from which each Party may develop specialized Gemini instruments and systems. A Party may include additional software as a standard or optional feature. All Gemini instruments and systems and Gemini R&D systems will be based on the core Gemini MS so that economies of scale may be realized in manufacturing common parts and components and in assembling and testing the finished product. The Parties expect to differentiate their respective products.

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CONFIDENTIAL HEWLETT-PACKARD - BRUKER

5.7 Gemini R&D MS. Bruker will modify the Gemini MS to make the Gemini R&D MS. The Gemini R&D MS will differ in appearance from the Gemini MS and will be consistent with the appearance of the Bruker product line. Bruker will design and manufacture different external covers for the Gemini R&D MS. The Gemini R&D MS will bear the product identification and appearance or trade dress, of a Bruker instrument. Bruker will distribute the Gemini R&D MS to its customers. Bruker intends to market the Gemini R&D MS as a flexible research-oriented instrument and as part of a high-end LC/MS(') system. Bruker may include other ion sources and/or other software as standard features. HP will provide a fast switching power supply as a standard component of the Gemini R&D MS.

5.8 Continuing Responsibilities. If a purchased part that a Party has designed into a component becomes obsolete, that Party will develop an alternative design using parts that will be available in the future. That Party also will develop an appropriate migration plan (acceptable to HP and Bruker) that includes the purchase of sufficient parts to (a) continue manufacture and timely delivery of the Gemini MS and Gemini R&D MS during the period of transition to the new design and (b) make field replacements of obsoleted parts or components as may be required.

5.9 Formal Testing and Certifications. Bruker and HP are jointly responsible for obtaining the required certifications as set out in the Gemini Hardware Quality and Regulatory Plan and for meeting all requirements for CSA and CE certification. Whenever testing occurs at the other party's site, the visiting party will provide engineering support personnel for the tests at their own expense, including travel costs.

5.10 Product Documentation. HP and Bruker Will collaborate on the development of -the (a) product engineering documentation for use in manufacturing and testing,
(b) training materials for training product support engineers, and (c) user information for generation of user manuals. Bruker will take the lead in preparing the first draft and the final draft of the product engineering documentation. Each Party will prepare and exchange its drafts of training materials and user information pertaining to the parts and functions of the Gemini/Gemini R&D for which it is responsible for designing and developing. Both Bruker and HP will own the copyright in the product documentation. Each Party may adapt and prepare derivative works of the product documentation in developing manuals or other documentation for its employees and its customers.

5.11 Sustaining Engineering. Each Party will provide sustaining engineering for the Gemini / Gemini R&D MS product line comparable to the level that it provides for other similar products. The Parties will continue to collaborate on refinements, engineering changes, cost reduction, and software updates, upgrades, and new releases.

ARTICLE 6 - MARKETING OF THE GEMINI / GEMINI R&D MS

6.1 Market Introduction. Neither Party may announce the Gemini/Gemini R&D MS or show such instruments to prospective customers until both Parties have accepted the production prototypes at the end of the Production Prototype Phase, unless both Parties agree to the early announcement or showing. Neither Party may issue quotations on, accept purchase orders for, or ship its Gemini/Gemini R&D MS instrument unless the other Party consents or both Parties have accepted the pilot run units at the end of the Pilot Run Phase. At any time the Parties may by mutual agreement disclose information about the

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CONFIDENTIAL HEWLETT-PACKARD - BRUKER

Gemini/Gemini R&D MS and invite industry experts to observe demonstrations of prototype units, under terms of appropriate confidentiality agreements, to obtain critical feedback.

6.2 No Restrictions on Sales by the Parties. Bruker may sell the Gemini R&D MS without restriction on customers, geographic territory or sales channels. HP may sell the Gemini.MS without restriction on customers, geographic territory or sales channels.

6.3 HP Collaboration on Sales of the Gemini R&D MS. Whenever appropriate, HP will provide to Bruker or its Affiliates. Qualified New Leads to prospective customers who express an interest in the Gemini R&D MS. Bruker or its Affiliates will pay HP a commission or finder's fee on the sale of a Gemini R&D MS that results from a Qualified New Lead, as provided in the Finder's Fee Agreement.

6.4 Bruker Collaboration on Sales of the Gemini MS. Whenever appropriate, Bruker or its Affiliates will provide to HP Qualified New Leads to prospective customers who express an interest in the Gemini MS. HP will pay Bruker or its Affiliates a commission or finder's fee on the sale of a Gemini MS that results from a Qualified New Lead, as provided in the Finder's Fee Agreement.

ARTICLE 7 - MANUFACTURING AND PROCURING COMPONENTS FOR THE
GEMINI / GEMINI R&D MS

7.1 HP's Core Responsibilities.

7.1.1 HP Gemini Kits and HP Gemini R&D Kits. HP will manufacture (or procure) and test all components comprising the HP Gemini Kit and the HP Gemini R&D Kit. These components are identified in "Appendix 2 - Gemini Component Breakdown" in the Gemini Project Plan. HP will assemble and test each HP Gemini Kit and each HP Gemini R&D Kit. HP will manufacture HP Gemini Kits based on (a) HP's forecast of demand and actual purchase orders from HP customers for the Gemini MS and (b) Bruker's forecast of demand and actual purchase orders received from Bruker for kits with standard positive/negative power switching. HP will manufacture HP Gemini R&D Kits based on (a) actual purchase orders and sales forecasts from Bruker and (b) HP's forecast of demand and actual purchase orders received from HP customers who specify fast positive/negative power switching. HP will design the shipping container and packaging for the HP Gemini Kits and HP Gemini R&D Kits so that Bruker can reuse the shipping container and packaging for the Gemini MS and the packaging for the Gemini R&D MS. HP will provide the container and packaging as part of the Gemini MS Kit and Gemini R&D Kit. HP will pack the High Voltage Power Supply within the shipping container, but separate from and outside the mechanical packaging or body of the HP Gemini Kit and the HP Gemini R&D Kit, so that Bruker may easily remove the power supply and store it separately. HP will ship HP Gemini Kits and HP Gemini R&D Kits to Bruker FOB San Francisco using reasonable efforts to ship in accordance with schedules in Bruker purchase orders.

7.1.2 HP Software. HP will manufacture CD ROMs containing the standard ChemStation software. Separate copies of the ChemStation software will be provided for each customer shipment. HP will provide a master copy of all integration software components that HP develops for the Gemini MS/Gemini R&D MS. (Bruker will incorporate these components on its CD-ROM for distribution to customers.) HP also will manufacture CD ROMs or discs containing the software for the following

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optional products, which Bruker may purchase from HP: HP Peptide Tools, HP Deconvolution, and Peptide Search.

7.1.3 HP Ship Kits. HP will manufacture or procure all accessories and consumables comprising the HP Ship Kit. The specific items included in the HP Ship Kit are listed under the heading "HP Ship Kit" in "Appendix 2 - Gemini Component Breakdown" in the Gemini Project Plan.

7.1.4 Consumables. HP will manufacture or procure the consumables that are regularly used by customers in using the Gemini MS or Gemini R&D MS. HP customers and Bruker customers may order these consumables from HP through HP's consumables distribution channel.

7.2 Bruker's Core Responsibilities.

7.2.1 Bruker Hardware. Bruker will manufacture (or procure) and test all hardware components for which Bruker has production responsibility. These components are identified in the section under the heading "Bruker-Daltonik Components" in "Appendix 2 - Gemini Im Component Breakdown" in the Gemini Project Plan.

7.2.2 Bruker Software. Bruker will manufacture CD ROMs containing all software required to provide control of the Gemini MS and Gemini R&D MS and CD ROMs containing the data analysis software. Bruker also will manufacture CD ROMs or discs containing the software for the following optional products, which HP may purchase from Bruker: LC/MS Dissect, Library Search, and stand-alone data analysis.

7.2.3 Integration and Final Testing. Bruker will provide final assembly and integration of the HP Gemini Kit / HP Gemini R&D Kit with the corresponding Bruker hardware components referred to in Section 7.2.1 and the Bruker Software referred to in Section 7.2.2 to produce the final Gemini MS units and Gemini R&D MS units and will conduct the final testing of each of the final units. All work will be performed in an ISO 9000 certified environment. Bruker will conduct the final test of each Gemini MS and Gemini R&D MS in accordance with the final test procedures that Bruker, with 11P's assistance, will develop before the end of the pilot run phase.

7.3 Separately Procured Items. The following components, although required for the operation of the Gemini MS and Gemini R&D MS, are not provided by HP to Bruker as part of the HP Gemini Kit or HP Gemini R&D Kit, and are not provided by Bruker to HP as part of the Gemini MS that it sells to HP: (1) an Edwards EIM18 rough pump; (2) a PC with two LAN boards, monitor, and printer; and (3) a syringe pump. Each Party will procure these components separately and furnish them as part of the Gemini MS or Gemini R&D MS that such Party sells to its customers.

7.4 ISO Compliance. Each Party will prepare its manufacturing facilities and environment in which Gemini / Gemini R&D components, kits, and products will be manufactured and the processes and systems that it will use to manufacture Gemini / Gemini R&D components, kits, and products to meet the relevant ISO 9000 standards by October 1, 1999. Each Party will maintain ISO 9000 certification for the duration of its activities in manufacturing Gemini / Gemini R&D components, kits, and products. If a Party decides to use a separate entity for manufacturing any component for which

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it is responsible, the Party will use its best efforts to select an entity that will meet the relevant ISO 9000 standards before engaging such entity to perform any work required under this Agreement. If a Party uses a separate entity for manufacturing any component for which it is responsible, and such entity does not meet the relevant ISO 9000 standards, the Party will carefully inspect all incoming parts and provide the other Party assurance that such parts meet such Party's quality standards.

7.5 Year 2000 Compliance Warranties. The phrase "Year 2000 Compliant" means able to perform without error, loss of data or loss of functionality arising from any failure to process, calculate, compare or sequence date data accurately. Each Party warrants to the other Party that the processes and systems that it uses to manufacture Gemini and Gemini R&D components, kits, and products hereunder will be Year 2000 Compliant by June 1, 1999, and that such processes and systems will not have an adverse impact on the provision of components, kits and products to either Party or their respective customers. Each Party also warrants to the other Party that all software and firmware that it develops for the other Party or furnishes to the other Party or to the other Party's customers will be Year 2000 Compliant and will not cause any product with which the software or firmware is intended to be used and is used to become non-Year 2000 Compliant. Each Party will demonstrate Year 2000 Compliance by furnishing the other Party successful results of a formal software inspection and review and by successfully executing the year 2000 compliance tests.

7.6 Quality Program. Each Party will maintain an objective quality program for all products it delivers to the other Party. Each Party's quality program will be in accordance with the current revision of HP's Supplier Quality System Requirements. Each Party will provide to the other Party a copy of its quality program and supporting test documentation.

7.7 Delegating Manufacturing Responsibilities. Whenever in this Agreement a Party is assigned the responsibility for manufacturing an item, such Party may procure the item from a third party or may have a third party manufacture the item. However, such Party must use its best efforts to select a third party supplier or third party manufacturer who will meet all relevant requirements of ISO 9000. Such Party also will use its best efforts to require the third party supplier or third party manufacturer to provide Year 2000 Compliance warranties, substantially like the warranties in Section. 7.5, covering everything, particularly software and firmware, procured from such third party, and to permit inspection by both Parties.

7.8 Contingency Manufacturing Plan. The Parties will develop a mutually-acceptable contingency manufacturing plan for use in case either Party cannot produce sufficient products to meet the other Party's requirements.

7.8.1 If during any quarter either party is unable or unwilling to ship at least 90% of the quantity of HP Gemini MS and HP Gemini R&D MS kits and instruments, the Parties' Program Managers will discuss corrective actions. If during any quarter either party is unable or unwilling to ship at least 80% of the quantity of HP Gemini MS and HP Gemini R&D MS kits and instruments, the Par-ties' Program Managers and Business Managers will decide what corrective actions to take. Such actions may include, but are not limited to the following: (a) hire appropriately skilled personnel to add capacity or shift personnel from other programs to meet the shipment goals, or (b) provide additional technical assistance to the other party in which situation the party receiving assistance will compensate the other party at a rate of 1.5 times salaries plus transportation and living expenses.

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7.9 Engineering Design or Process Changes.

7.9.1 Proposed Changes. Neither Party will, without the prior written consent of the other Party, make or incorporate in the Gemini kit, Gemini R&D kit or Gemini MS any change in any process or any change in any design that affects the electrical performance; the mechanical form fit, or function; the environmental compatibility; the chemical characteristics; the software compatibility; or the life, reliability, or quality of such Gemini Product (collectively, "Engineering Changes"). Each Party will give to the other Party notice of any proposed Engineering Change, and will provide evaluation samples and other appropriate information at least 90 days prior to the first proposed shipment of the Gemini kit, Gemini R&D kit or Gemini MS involving an Engineering Change. Each Party also will give to the other Party notice of any proposed geographical relocation of any manufacturing process together with assurances that such relocation will not affect product availability, the electrical performance, the mechanical form, fit, or function, the environmental compatibility, the chemical characteristics, the software compatibility, or the life, reliability, or quality of such Gemini Product, at least 60 days before such relocation.

7.9.2 Safety Standard Changes. Each Party will immediately give notice to the other Party if any upgrade, substitution or other change to an instrument is required to make that instrument meet applicable safety standards or other governmental statutes, rules, orders or regulations, even those that are not defined as Engineering Changes in Section 7.9. 1. The Parties will determine which Party is responsible for meeting the requirement, and such Party shall take all appropriate steps to effect the upgrade, substitution, or other change that may be required. If the instrument met all applicable safety standards and other governmental requirements at the time of manufacture, the Parties will allocate the costs of any subsequent upgrade, substitution or other change required, in an equitable manner, based on good faith discussions between the Parties.

7.9.3 Excessive Failure Rate. If the failure rate for the Gemini MS and/or Gemini R&D MS exceeds an average of two service calls per instrument per year, averaged over the total number of instruments under warranty, the Parties jointly will analyze the failure reports, determine the root causes, and develop corrective action plans. If the Parties determine that the failures are primarily attributable to one Party, such Party will provide additional engineering and technical support needed to bring the failure rate within an acceptable limit. If the Parties determine that the failures are not primarily attributable to one Party, both Parties will provide additional engineering and technical support needed to bring the failure rate within an acceptable limit.

ARTICLE 8 - SALES OF COMPONENTS AND OF THE GEMINI MS AND GEMINI
R&D MS

8.1 HP Gemini Products. Bruker may purchase from HP and HP will sell to Bruker the following products ("HP Gemini Products") so long as either HP is actively selling the Gemini MS or Bruker is actively selling the Gemini R&D MS:

HP Gemini Kits, as specified in Sub-Section 7.1.1

HP Gemini R&D Kits, as specified in Sub-Section 7.1.1

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HP Ship Kits, comprising accessories and consumables, as specified in Sub-Section 7.1.3

HP APCI accessory HP CDs or disks containing optional software identified on the document entitled "Pricing of HP and Bruker Kits, Instruments, Accessories, and Software" which is incorporated herein as an Appendix 3 in Section 22.9.

HP Gemini R&D kit without source parts, etc. as specified in Gemini Project Plan.

8.2 Bruker Gemini Products. HP may purchase from Bruker and Bruker will sell to HP the following products ("Bruker Gemini Products") so long as either Bruker is actively selling the Gemini R&D MS or HP is actively selling the Gemini MS:

Gemini MS as assembled and tested in accordance with Section 7.2.3 Bruker Nanoelectro spray accessory

Bruker CDs or disks containing optional software identified on the document entitled "Pricing of HP and Bruker Kits, Instruments, Accessories, and Software"

8.3 Prices. Sales between HP and Bruker will be conducted in US dollars. The prices are set out in the document entitled "Pricing of HP and Bruker Kits, Instruments, Accessories, and Software," which is incorporated herein as Appendix 3. The Parties have a goal of reducing their respective manufacturing costs so that they can reduce their prices to each other after the year [*](3) from the prices specified for the year [*]. The parties will confer regarding their prices for HP Gemini Kits, HP Gemini R&D Kits and the Gemini MS sold after the year [*]. HP will reduce the prices that HP charges Bruker for the HP Gemini Kit and the HP Gemini R&D Kit by the same percentage that Bruker reduces the price that it charges HP for the Bruker value add portion of the Gemini MS.

Bruker and HP have mutual interest in product differentiation, including different ionization methods (e.g. MALDI, FAB, SIMS, MCI, MAB). Bruker has an initial interest in developing an in-source MALDI-ITMS system based upon ionization in vacuum. Bruker has the option of purchasing a Gemini R&D kit without ESI/API source parts, power supplies, etc. to be used with different ionization sources mentioned above. This option is described in the Gemini project plan and the price set forth in Appendix 3. This provision is applicable for a volume of more than 5 kits per year. If less than 5 kits per year are required, Bruker can purchase Gemini R&D kits, and the excess parts not used for this instrument configuration can be used by Bruker for spare parts.

8.4. Exchange Rate Variances. The prices in Appendix 3 are based upon an exchange rate of 1.65DM per US dollar. HP and Bruker agree to share the exchange rate risk associated with the Bruker value add portion of the Gemini MS. If the actual exchange rate varies more than 5%DM/US$ Bruker and HP will equally share the impact of the variance. The actual exchange rate will be the noon Fed Funds fixing rate on the date that Bruker accepts a purchase order placed by HP. Within thirty days after the end of each HP fiscal quarter HP and Bruker will settle the impact of the differences and the appropriate party will make a payment to the other party. If the exchange rate between US dollars and the DM(or Euro) differs from the assumed exchange rate by more than 15% at the beginning of any HP fiscal quarter, HP and Bruker will reset the assumed exchange rate and adjust the prices in Appendix 3. To complete the reset of the assumed exchange rate, the Parties will (1) replace Appendix 3, "Pricing of HP and Bruker Kits,


(3) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

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Instruments, Accessories, and Software" with a document containing revised prices in US dollars, (2) agree that any reference to prices refers to the updated Appendix, and (3) agree that any reference to the assumed exchange rate, in the body of the contract or any Appendices, refers to the new assumed exchange rate.

8.5 AOB-HP License Agreement Analytical of Branford, Inc. ("AOB") is the exclusive licensee of U.S. patents No. 5,130,5338, No. 5,581,080, and No. 5,686,726. AOB has granted to HP sublicenses under AOB's exclusive licenses to the AOB licensed patents. AOB and HP have agreed that the Esquire-LC, Gemini MS & Gemini R&D MS and successor ITMS systems will be considered as licensed products sold by HP and Bruker to their customers so long as HP pays AOB the royalty due upon such sales. The AOB license fee is included in the price of the HP Esquire-LC kit and HP Gemini MS and Gemini R&D MS kits and bioanalysis and deconvolution software. However, Bruker cannot use the HP API source parts or deconvolution software for products other than ITMS products since Bruker has no license to AOB patents.

8.6 Taxes, Duties, Shipping Charges, Insurance. Title to the HP Gemini MS Kits, HP Gemini R&D MS Kits, HP Ship Kits, APCI accessories, and the media on which HP has stored its optional software will pass to Bruker, FOB San Francisco. Bruker will pay all taxes, duties, freight and insurance for shipments from San Francisco. Title to the finished HP Gemini MS, nanoelectrospray accessory and the media on which Bruker has stored its optional software will pass to HP, FOB Bremen, Germany. HP will pay all taxes, duties, freight and insurance for shipments from Bremen, Germany.

8.7 Order Forecasts.

8.7.1 During the Development Project. At the beginning of the Production Prototype Phase, Bruker will give HP an initial forecast of Bruker's requirements for HP Gemini Products (as defined or listed in Section 8.1 ) for the first year after shipment release. Likewise, at the beginning of the Production Prototype Phase, HP will give Bruker an initial forecast of HP's requirements for Bruker Gemini Products (as defined or listed in Section 8.2) for the first year after shipment release . At the beginning of the Pilot Run Phase, each Party will provide to the other Party an updated forecast.

8.7.2 On-Going Forecasts. After the successful conclusion of the Pilot Run Phase, HP will provide to Bruker before the end of each month a forecast of the quantity of the Gemini MS, the Bruker Nanoelectrospray Accessory, and Bruker Software that HP has ordered or scheduled for delivery or expects to order or schedule for deliveries, during the following 12 months. Similarly, before the end of each month Bruker will provide to HP a forecast of the quantity of the HP Gemini Kit, the HP Gemini R&D Kit, the HP Ship Kit, the HP APCI Accessory, and HP Software that Bruker has ordered or scheduled for deliveries, or expects to order or schedule for deliveries, during the following 12 months. Each Party will update its forecast each month to provide the other Party its best estimates of the number of units that it will want delivered in each of the 12 succeeding months.

8.7.3 Implications of Forecasts on Orders for Products. Both parties may accept, but will not be obligated to accept, a purchase order for quantities of Gemini Products that differ from the quantities indicated in its forecasts by more than the percentages indicated in the table below. A conforming purchase order must conform with each parameter set out below; the variances permitted are to be considered separately and not cumulatively.

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--------------------------------------------------------------------------------
Time Between Relevant       Minimum Quantity of        Maximum Quantity of
Forecast and Required       Product on Purchase Order  Product on Purchase Order
Shipments on Purchase Order
--------------------------------------------------------------------------------
Forecast Provided 1 Month              100%                      100%
Before Shipments Scheduled
on Purchase Order
--------------------------------------------------------------------------------
Forecast Provided 2 Months             100%                      110%
Before Shipments Scheduled
on Purchase Order
--------------------------------------------------------------------------------
Forecast Provided 3 Months             80%                       120%
Before Shipments Scheduled
on Purchase Order
--------------------------------------------------------------------------------
Forecast Provided 6 Months             50%                       150%
Before Shipments Scheduled
on Purchase Order
--------------------------------------------------------------------------------

8.8 Purchase Orders

8.8.1 Function of Purchase Orders. Each Party will formally order kits, instruments, components, accessories, software, and replacement parts, ("Products") from the other Party and schedule shipments ("Delivery Dates") by issuing its regular purchase order ("Order") to the other Party. Each Order will include: (i) unit quantity; (ii) unit price; (iii) shipping destination; (iv) Delivery Date; and (v) other instructions or requirements pertinent to the Order. Both parties may schedule regular intervals for deliveries by an appropriate Order setting forth the intervals. This Agreement will control and take precedence over the terms of an Order if there is any inconsistency between this Agreement and an Order.

8.8.2 Order Acknowledgment. An Order will be deemed to have been placed as of the date of receipt of the Order. The receiving Party will promptly confirm the receipt of an Order electronically or through facsimile to the ordering Party within two working days. Orders that are within the allowed variances from the forecasts, as set out in Section 8.7, will be deemed accepted upon receipt. All Orders will be deemed accepted if the receiving Party does not reject the Order or non-conforming item on the Order, in whole or in part, within ten business days of receipt of the Order. If an Order exceeds the Forecast or shortens the Lead Time, the receiving Party will use reasonable efforts to fill such excess or accommodate such shorter Lead Time.

8.8.3 Submission of Regular Monthly Purchase Orders. Each Party will submit to the other Party its Purchase Order for Products to be purchased and delivered during any month at least 60 days before the beginning of such month.

8. 9 Standard Payment Terms. Each Party will pay for Products, in US dollars, net 37 days, after the latest of. (a) receipt by the receiving Party of an appropriate invoice from the shipping Party; or (b) receipt by the Party of the corresponding Products or Parts. Except as other-wise provided in this

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Agreement, associated freight expenses and duties will be paid directly by the receiving Party. Neither Party will be liable for any costs related to or payments for unordered or Nonconforming Products.

8.10 Prototypes and Products Delivered During Development Project. During the Lab Prototype Phase, the Parties will provide the parts, hardware components, software, and labor to make and allocate lab prototypes,, in accordance with the Gemini Project Plan. This will be done without charge to or receiving reimbursement from the other Party, irrespective of where the lab prototypes will be sent, who will get the lab prototypes, or how the lab prototypes will be used. During the Production Prototype Phase, the Parties may provide the parts, hardware components, software and labor to upgrade some of the lab prototypes to become production prototypes. The Parties will also provide the parts, hardware components, software, and labor to make new production prototypes. The Parties will allocate the production prototypes between the Parties, in accordance with the Gemini Project Plan, without charge to or receiving reimbursement from the other Party, irrespective of where the production prototypes will be sent, who will get the production prototypes, or how the production prototypes will be used. During the Pilot Run Phase, the Parties may upgrade some of the production prototypes to become pilot run instruments, and the Parties will make additional pilot run instruments. The Parties will distribute the pilot run instruments in accordance with the Gemini Project Plan, The pilot run instruments will be treated as customer units for purposes of determining and allocating costs and payments between the Parties. Bruker will pay HP for all HP Gemini Kits, HP Gemini R&D Kits, and HP Ship Kits (or their equivalents in components and parts) incorporated into the pilot run instruments, as though Bruker had ordered the components for its regular manufacturing. HP will pay Bruker for all the pilot run units that are delivered to HP, as though the units were ordered for customer shipments. If one Party has purchased and famished the separately procured items for a unit that is distributed to the other Party, the other Party will reimburse the procuring Party for such separately procured items.

ARTICLE 9 - HP'S MINIMUM PURCHASE COMMITMENT, INITIAL PURCHASE
ORDER AND DISPOSITION OF HP'S SECURITY DEPOSIT/DONVN PAYMENT

9.1 Minimum Purchase Commitment by HP. HP will purchase a minimum of [*](4) units of the Gemini NIS during the two years following shipment release.

9.2 HP's Initial Purchase Order. As assurance for HP's minimum purchase commitment recited above, HP will issue a new purchase order for this minimum quantity after completion of the Production Prototype phase. This new purchase order will replace and automatically cancel existing HP Purchase Order #23732322. Notwithstanding anything to the contrary in Sub-Section 8.7.3,
Section 8.8, and Section 8.9, (a) HP will not submit regular purchase orders until the [*] units ordered on its initial purchase order have been allocated for deliveries; instead HP will issue call offs or use another mutually acceptable procedure to advise Bruker of shipping destinations, Delivery Dates, and other instructions for each of the [*] units; (b) HP will pay for the first
[*] units, including the pilot run units, as provided in Section 9.5 below.

9.3 Security Deposit/Down Payment Previously Paid by HP to Bruker. Under the terms of the Old Agreement, HP submitted Purchase Order 923732322 to Bruker for
[*] Gemini units. HP paid Bruker


(4) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

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[*] as a security deposit and down payment, with an expectation that Bruker would begin shipping Gemini systems to HP in [*](5).

9.4 Partial Refund of Security Deposit/Down Payment. Within five days of execution of this Agreement, Bruker will refund to HP, by wire transfer, the balance of the security deposit / down payment, including accrued interest, except Bruker will retain [*] as the security deposit/down payment for the first
[*] units of the Gemini MS . Thereafter, Bruker will pay HP interest within 30 days after the end of each HP Fiscal Quarter on any amounts that Bruker retains as a security deposit/down payment during such quarter. The interest rate for computing interest for such quarter will be the average of the LIBOR one-year index for such quarter divided by four.

9.5 Disposition of Security Deposit/Down Payment. Each time Bruker sells and delivers a Gemini MS to HP, Bruker will deduct [*] of transfer price from the security deposit/down payment and invoice HP for the remainder. When the balance of the security deposit/down payment is less than [*], Bruker will apply the balance to HP's purchase of the next Gemini MS and invoice HP for the difference. If Bruker fails to develop the Gemini/Gemini R&D MS in a timely manner in accordance with the Gemini Project Plan, or if Bruker terminates this Agreement before the security deposit/down payment has been used up in the normal course of selling products to HP, Bruker shall immediately refund to HP the remaining balance of the security deposit/down payment. If HP does not order sufficient products to deplete the security deposit/down payment through no fault of Bruker, HP will forfeit any remaining security deposit/down payment.

9.6 Delay in Initial Shipment. If the initial shipment of the Gemini MS is delayed beyond the scheduled shipment date of [*], Bruker will refund to HP [*] of the Security Deposit for each Gemini MS that HP forecasts, on its forecast immediately preceding the delay, for delivery during the period of the delay, until the initial shipment occurs.

ARTICLE 10 - WARRANTIES AND SUPPORT

10.1 HP Warranty. HP warrants that all HP Gemini Products, including the media on which HP software is fixed, will be free from defects in materials and workmanship for a period of 15 months from the date of shipment by HP to Bruker. If any HP part in any Gemini MS or Gemini R&D MS fails during manufacture or test at Bruker's factory as a result of such defect, Bruker may draw from its stock of HP parts to replace any such failed HP part and return such failed part to HP for replacement at no charge: or for credit. If any HP part in any Gemini R&D MS fails as a result of such defect after Bruker has shipped the Gemini R&D MS, but within 15 months of HP's shipment to Bruker, HP will provide a replacement part in exchange for such failed part at no charge. However, HP will not be responsible for paying for any labor or other expenses incurred in connection with replacing such part in the Gemini R&D MS.

10.2 Bruker Warranty. Bruker warrants that all Bruker Gemini Products, including the media on which Bruker software is fixed, will be free from defects in materials and workmanship for a period of


(5) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

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15 months from the date of shipment by Bruker to HP. If any Bruker part in any Gemini MS fails as a result of such defect within 15 months of Bruker's shipment to HP, Bruker will provide a replacement part in exchange for such failed part at no charge. However, Bruker will not be responsible for paying for any labor or other expenses incurred in connection with replacing such part in the Gemini MS.

10.3 Replacement Parts. Each Party will prepare a list of parts (by part number and description) that it will make available as replacement parts under its warranty and that it will sell for customer support. In preparing these lists, each Party will determine whether to furnish individual parts or assemblies of parts as replacement parts. Each Party also will determine and specify the lead-time for ordering and the lot quantity for each listed replacement part. Each Party also will determine the distribution channel(s) that it will use in selling the replacement parts or making them available to the other Party. The prices that each Party will charge the other Party for replacement parts or the formula that will be used to determine such prices is set out in the "Pricing of HP Kits, Accessories, and Software and Bruker Instruments, Accessories, and Software".

10.4 Return of Failed Parts and Failure Reports. HP will send to Bruker all failed electronic boards that HP replaces for its customers, at Bruker's expense. If Bruker requests HP to send other failed parts to Bruker, HP will use reasonable efforts to send such other failed parts to Bruker , at Bruker's expense. If HP requests Bruker to send any failed parts to HP, Bruker will use reasonable efforts to send such failed parts to HP, at HP's expense. Whether or not any failed part is returned, the par-ties will provide each other with failure information to facilitate corrective action by the Party that made the part.

ARTICLE 11 - NEW DEVELOPMENT PROJECTS

11.1 Upgrades to Gemini/Gemini R&D MS and New ITMS. The Parties will begin considering upgrades to the Gemini/Gemini R&D MS and/or the design of the next generation platform (under the code name [*](6)), at the end of the Gemini Production Prototype Phase. If the Parties decide to jointly develop a major upgrade to the Gemini/Gemini R&D MS or to jointly develop the [*] or any other ITMS, the Parties will use Lifecycle Planning, including the preparation of Lifecycle Documents for the project. Neither Party will be obligated to commence or to finish any joint development of an upgrade or new product unless both Parties formally adopt the Lifecycle Documents for the upgrade or new product, and both Parties agree to a set of prices at which the Parties will sell components and products to one another.

11.2 RP Developments of Technologies in HP Core Areas. HP anticipates that it will continue making improvements in the HP Core Areas. HP will inform Bruker product, project and program management of any improvements that HP develops and incorporates into any of its ITMS instruments during the Engineering Collaboration Period. Both Parties will share technology improvements in their core areas to assure that both Parties' products are competitive in basic areas of MS and MS/MS performance such as sensitivity, mass range, resolution, etc. Upon meeting the required competitive levels, the parties will discuss and mutually agree how to differentiate their products.

11.3 Bruker Developments of Technologies in Bruker Core Area. Bruker anticipates that it will continue making improvements in the Bruker Core Areas. Bruker will inform HP products, project and


(6) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

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program management of any improvements that Bruker develops and incorporates into any of its ITMS instruments during the Engineering Collaboration Period. Both Parties will share technology improvements in their core areas to assure that both Parties' products are competitive in basic areas of MS and MS/MS performance such as sensitivity, mass range, resolution, etc. Upon meeting the required competitive levels, the parties will discuss and mutually agree how to differentiate their products.

ARTICLE 12 - EMPLOYEE RELATIONS

12.1 Visiting Employees. Each Party will perform most of its tasks on its own premises. However, employees of each Party will visit the other Party's premises on a regular basis during the Engineering Collaboration Period. Regardless of the duration of any such visit, the visiting employee will not be deemed an employee of the Host Party. The visiting employee's regular employer will continue to be responsible for the employee's wages, benefits and payroll taxes, and (unless otherwise agreed by the Parties) reimbursable expenses. Each visiting employee will abide by the safety and security rules of the Host Party.

12.2 Sensitive Information. A visiting employee may inadvertently observe or overhear information that a reasonably prudent person would recognize as confidential or proprietary. If this happens, the employee will treat such information as belonging to the Host Party and will not disclose it to anyone or use it for any purpose without first inquiring of the Host Party.

12.3 Recruiting. No Party may recruit any employee assigned by another Party to work on the Project while such employee works on the Project or within one year thereafter. However, such employee may take the initiative to apply for employment with the other Party and such other Party may offer employment to such employee.

ARTICLE 13 - CONFIDENTIAL INFORMATION

13.1 Confidential Information. "Confidential Information" means (a) written information that is marked as confidential at the time of disclosure and (b) unwritten information that is treated as confidential at the time of disclosure and designated as confidential in a written memorandum sent to the recipient within thirty days of disclosure, summarizing the information sufficiently for identification.

13.2 Duty of Care. Each Party receiving Confidential Information under this Agreement will protect it by using the same degree of care, but no less than a reasonable degree of care, to prevent the unauthorized use, dissemination, or publication of the Confidential Information as the recipient uses to protect its own confidential information of a like nature.

13.3 Persons Who May Receive Information. A recipient may disclose Confidential Information only to its employees and consultants who have a need to know such information to carry out their duties. All such employees and consultants must be obligated by written agreement to give substantially the same protection to the Confidential Information as is provided herein.

13.4 Use of Confidential Information. HP may use Bruker's Confidential Information only for the purpose of understanding technologies associated with such disclosures, for developing ITMS products under this agreement, and for such purposes as may be permitted under Article 14. Bruker may use HP's

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Confidential Information only for the purpose of understanding technologies associated with such disclosures, for developing ITMS products under this agreement, and for such purposes as may be permitted under Article 14.

13.5 Disclosures Under Prior Agreements. As of the Effective Date, this Agreement will govern any disclosure of Confidential Information pertinent to the Project under any prior agreement.

13.6 Exclusions. The provisions of this Article shall not apply to any information:

(a) that was already in recipient's possession before disclosure by the disclosing Party,

(b) that is, or after it becomes, a matter of public knowledge through no fault of recipient,

(c) that is rightfully received by recipient from a third party without a duty of confidentiality,

(d) that is disclosed by the disclosing Party to a third party without imposing a duty of confidentiality on the third party, or

(e) that is developed independently by employees of the recipient with no access to the Confidential Information.

A recipient may disclose Confidential Information when required by law, but only to the extent so required, provided that the recipient gives the disclosing Part), reasonable advance notice so that the disclosing Party can protect its interests.

13.7 Term. The recipient's obligations of confidentiality expires three years after the expiration or termination of the Engineering Collaboration Period.

ARTICLE 14 - DEVELOPMENT INVENTIONS AND OTHER INTELLECTUAL
PROPERTY CREATED DURING DEVELOPMENT PROGRAMS

14.1 Invention. "Invention" means anything that comprises patentable subject matter under the U.S. Patent Law (Title 35, U.S. Code Section 101)

14.2 Development Invention. "Development Invention" means an invention comprising, or embodied in, an ITMS or a component thereof, or a process practiced or implemented in or by an ITMS made or developed, by one or more employees of either Bruker or HP, during the Engineering Collaboration Period.

14.3 Ownership of Development Inventions. A Development Invention made or developed solely by Bruker employees ("a Bruker Development Invention") is deemed to be solely owned by Bruker. A Development Invention made or developed solely by HP employees ("an HP Development Invention") is deemed to be solely owned by HP. A Development Invention made or developed jointly by employees of both Parties ("a Joint Development Invention") is deemed to be owned by both Parties. For purposes of Section 14.5 and Section 14.6 below, a Bruker Development Invention will be considered solely owned by Bruker, and an HP Development Invention will be considered solely owned by HP, notwithstanding any assignment or partial assignment of any ownership by a Party to any other party.

14.4 Disclosure of Development Inventions. Each Party will disclose to the other Party all Development Inventions, including Joint Development Inventions, made or developed by its employees.

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14.5 Obtaining and Maintaining Patents Covering Development Inventions. Each Party will determine, in its sole discretion, whether and where to file patent applications covering Development Inventions of which it is the sole owner. Each Party will be solely responsible for the prosecution of patent applications and the maintenance of patents covering Development Inventions of which it is the sole owner. With respect to Joint Development Inventions, the Parties will be governed by the provisions of Section 143 in determining whether and where to file patent applications and in allocating responsibility for the prosecution of patent applications and the maintenance of patents.

14.6 Licenses Regarding Solely Owned Development Inventions. The provisions of this Section 14.6 and the Sub-sections hereunder relate and extend only to solely owned Development Inventions and grant no rights to exploit any other inventions or under any patents covering any other inventions.

14.6.1 Licenses to Each Other Regarding Development Invention Within Owner's Core Area. With respect to each solely owned Development Invention in the owner's Core Areas, the owning Party hereby grants and will grant to the other Party, for the duration of the Engineering Collaboration Period and for 2 years there after a world-wide, non-exclusive, royalty-free, paid -up license to use, offer to sell, sell and import ITMSs that constitute, embody, or incorporate such Development Invention and to practice any process(es) constituting or embodying such Development Invention in using ITMSs with the right to grant sublicenses to the other Party's Affiliates, but without the right to grant sublicenses to non-Affiliates. Such license extends and will extend to all patents covering the Development Invention and to trade secrets embodied in the Development Invention, but not to copyrights in computer programs. Such license specifically excludes the right to make, or have made, i.e. the license is not a manufacturing license.

14.6.2 Licenses to Each Other Regarding Development Invention In Other Party's Core Area. With respect to each solely owned Development Invention in the other Party's Core Areas, the owning Party hereby grants and will grant to the other Party a world-wide, non-exclusive, royalty-free, paid-up, perpetual. license to make, have made, use, offer to sell, sell, and import products that constitute, embody, or incorporate such Development Invention and to practice any process(es) constituting or embodying such Development Invention in manufacturing or using products, in all fields, with the right to grant sublicenses to the other Party's Affiliates, but without the right to grant sublicenses to non-Affiliates. Such license extends and will extend to all patents covering the Development Invention and to trade secrets embodied in the Development Invention, but not to copyrights in computer programs.

14.6.3. Licenses to Each Other Regarding Development Invention In Neither Party's Core Area. With respect to each solely owned Development Invention that is in neither Party's Core Areas, the owning Party hereby grants and will grant to the other Party, for the duration of the Engineering Collaboration Period and for two years thereafter, a world-wide, non-exclusive, royalty-free, paid-up license to use, offer to sell, and import ITMSs that have been developed jointly by the Parties hereunder that constitute, embody, or incorporate such Development Invention and to practice any process(es) constituting or embodying such Development Invention in using ITMSs that have been developed jointly by the Parties hereunder, with the right to grant sublicenses to the other Party's Affiliates, but without the right to grant sublicenses to non-Affiliates. Such license extends and will extend to all patents covering the Development Invention and to trade secrets embodied in the Development

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Invention, but not to copyrights in computer programs. Such license specifically excludes the right to make or have made, i.e., the license in not a manufacturing license.

14.6.4 Licenses to Third Parties. Each Party will determine, in its sole discretion, whether, and to whom else, it will grant additional licenses and the terms of such licenses with respect to its solely owned Development Inventions.

14.7 Joint Development Inventions

14.7.1 Joint Development Inventions In Bruker Core Areas. If the subject matter of a Joint Development Invention is exclusively in Bruker Core Areas: (1) Bruker shall have the first right to determine whether to seek patents on such invention; (2) if Bruker decides to file one or more patent applications on such invention, upon request by Bruker, HP will assign its rights to any patent application and any patent issuing from such patent application covering such invention, and Bruker may file and prosecute such patent applications solely in its name; and (3) HP shall retain, and Bruker shall grant to HP under the patents issuing from such patent applications, a royalty-free, nonexclusive, perpetual license to make, have made, import, offer to sell, sell, and use products that incorporate the invention, with the right to grant sublicenses to its Affiliates, but without the right to grant sublicenses to non-Affiliates. If Bruker decides not to file a patent application on a Joint Development Invention in Bruker Core Areas, or if Bruker does not timely request HP to assign HP's rights to file a patent application on such Joint Development Invention, the Joint Development Invention will be treated as a Joint Development Invention in neither Core Areas under the provisions of Section 14.7.3.

14.7.2 Joint Development Inventions In HP Core Areas. If the subject matter of a Joint Development Invention is exclusively in HP Core Areas: (1) HP shall have the first right to determine whether to seek patents on such invention; (2) if HP decides to file one or more patent applications on such invention, upon request by HP, Bruker will assign its rights to any patent application and any patent issuing from such patent application covering such invention, and HP may file and prosecute such patent applications solely in its name; and (3) Bruker shall retain, and HP shall grant to Bruker under the patents issuing from such patent applications, a royalty-free, nonexclusive, perpetual license to make, have made, import, offer to sell, sell, and use products that incorporate the invention, with the right to grant sublicenses to its Affiliates, but without the right to grant sublicenses to non-Affiliates. If HP decides not to file a patent application on a Joint Development Invention in HP Core Areas, or if HP does not timely request Bruker to assign Bruker's rights to file a patent application on such Joint Development Invention, the Joint Development Invention will be treated as a Joint Development Invention in neither core areas under the provisions of Section 14.7.3.

14.7.3 Joint Development Inventions In Neither Core Areas or in Both Core Areas. Joint inventions that are in neither Party's Core Areas, or simultaneously in both Party's Core Areas, will be owned jointly, and both parties will try to resolve by mutual agreement who takes the lead in filing patents on such inventions.

14.8 Inventions Prior to Effective Date. The Provisions of this Article 14 will apply to all Development Inventions-made during the Engineering Collaboration Period, whether made during the validity of the Old Agreement or after the Effective Date of this Agreement, except that with respect to any invention covered by the Old Agreement for which a patent has issued or for which a patent

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application has been filed in any country in the names of both Parties, all patents issued in all countries covering such invention will be assigned to both Bruker and HP in accordance with the Old Agreement.

14.9 Licenses to Each Other on Pre-existing Intellectual Property. With respect to any HP or Bruker inventions, patents, know-how or trade secrets that existed before the Old Agreement was signed ("Pre-existing Intellectual Property"), the owning Party hereby grants and will grant to the other Party, for the duration of the Engineering Collaboration Period and for two years thereafter, a world-wide, non-exclusive, royalty-free, paid-up license to use, offer to sell, sell and import ITMSs that have been developed jointly by the Parties hereunder that constitute, embody, or incorporate such Pre-existing Intellectual Property and to practice any process(es) constituting or embodying such Pre-existing Intellectual Property in using ITMSs that have been developed jointly by the Parties hereunder, with the right to grant sublicenses to the other Party's Affiliates, but without the right to grant sublicenses to non-Affiliates. Such license does not extend to copyrights in computer programs. Such license specifically excludes the right to make or have made, i.e., the license in not a manufacturing license. The license also extends to the Esquire-LC.

14.10 Implied Licenses. The Parties acknowledge that with respect to any invention of a Party that such Party embodies in or incorporates into the Gemini MS / Gemini R&D MS or a component thereof, any purchaser of the Gemini MS / Gemini R&D MS will have an implied license under any patent that may cover such invention permitting such purchaser to use, to offer for sale, and to sell such patented invention when using or selling such Gemini MS / Gemini R&D MS.

14.11 Ownership of Copyrights in Works of Authorship. The copyright in a document and in any software or firmware code, written solely by employees of one Party, shall be owned solely by that Party. The copyright in a document and in any software or firmware code, written by employees of both Parties shall be owned by both Parties.

14.12 Trade Secrets in and Legends to be Applied to Documents. If a document or software or firmware code includes or incorporates a trade secret of either Party, the Party that creates such document or software or firmware must include a legend on the document or embedded in the code designating such document or code as "Confidential" or "Proprietary" with the name of the Party whose trade secret is incorporated (or names of both Parties if trade secrets of both Par-ties are incorporated). Notwithstanding the ownership of the copyright in a work by one or both Parties, if the work incorporates or is based upon Confidential Information disclosed by one or both Parties or developed as Confidential Information in the Gemini Program or in connection with any other matters covered by this Agreement, the work may be used and distributed only in accordance with the provisions governing the use and distribution of Confidential Information herein.

14.13 License to Use HP Software. HP will make available for purchase by Bruker, as set out in Section 8.1, CDs containing certain optional computer application programs covered by HP copyrights. HP hereby grants to Bruker a license, under HP's copyright in each computer application program for which Bruker has paid the license fee, to install and to execute the program on one computer. Bruker will transfer to Bruker's customer the license when Bruker transfers the CDs containing such computer application program or when Bruker transfers the computer on which such computer application program is installed. Bruker will pay HP the license fee (or purchase the CE, containing the optional

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computer application program) for each computer on which an HP optional computer application program is installed or executed.

14.14 License to Use Bruker Software. Bruker will make available for purchase by HP, as set out in Section 8.2, CDs containing certain optional computer application programs covered by Bruker copyrights. Bruker hereby grants to HP a license, under Bruker's copyright in each computer application program -for which HP has paid the license fee, to install and to execute the program on one computer. HP will transfer to HP's customer the license when HP transfers the CDs containing such computer application program or when HP transfers the computer on which such computer application program is installed. HP will pay Bruker the license fee (or purchase the CD containing the optional computer application program) for each computer on which a Bruker optional computer application program is installed or executed.

14.15 License to Copy and Distribute Documents. Each Party grants to the other Party a non-exclusive, royalty-free, worldwide license under its copyrights in any technical paper or brochure describing or applicable to the Gemini MS / Gemini R&D MS to make and distribute copies thereof and to make derivative works thereof and to make and distribute copies of such derivative works

ARTICLE 15 - REPRESENTATIONS, WARRANTIES AND DISCLAIMERS

15.1 Third Party Confidential Information. Each Party represents and warrants to the other Party that it will not furnish to the other Party, incorporate in any works furnished to the other Party or use in any deliverable in the Gemini Project any confidential information of any third party without permission of such third party.

15.2 Third Party Works of Authorship. Each Party represents and warrants to the other Party that it will not furnish to the other Party, incorporate in any works furnished to the other Party, or use in any deliverable in the Gemini Project any copyrighted works of any third party without permission of such third party.

15.3 Third Party Patents. Each Party represents and warrants to the other Party that it will not furnish to the other Party, incorporate in any works furnished to the other Party, or use in any deliverable in the Gemini Project any product, data, information, know-how, or process that such Party reasonably believes may infringe or conflict with any patent rights of a third party, unless such Party also furnishes to such other Party a warning of such possible infringement or conflict and information known by such Party about such possible infringement or conflict. Neither Party has a duty under this Agreement to conduct a patent search or infringement study. Except as expressly set forth elsewhere in this Agreement, neither Party warrants against infringement of third-party patent rights.

15.4 Disclaimers of Express and Implied Warranties. Except as expressly set forth elsewhere in this Agreement, each Party expressly disclaims any express or implied warranties, including without limitation the warranties of merchantability and fitness for a particular purpose.

ARTICLE 16 - CONFLICTS WITH THIRD PARTY INTELLECTUAL PROPERTY
RIGHTS

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16.1 Claims Directed to Bruker Core Areas.

16.1.1 Bruker's Duty To Defend. Bruker will, at its expense, defend or settle any third party claim asserted against HP based on an allegation of infringement of a third party's intellectual property rights in the Bruker Core Areas. Bruker will pay all costs, damages and expenses awarded by a court or agreed to in settlement, arising from such third party claim against HP.

16.1.2 HP's Duty To Notify and Cooperate. HP will give Bruker prompt notice of any third party claim, tender the defense, permit Bruker to control the defense, and provide information and reasonable assistance to Bruker at HP's expense.

16.2 Claims Directed to HP Core Areas.

16.2.1 Duty To Defend. HP will, at its expense, defend or settle any third party claim asserted against Bruker based on an allegation of infringement of a third party's intellectual property rights in the HP Core Areas. HP will pay all costs, damages and expenses awarded by a court or agreed to in settlement, arising from such third party claim against Bruker.

16.2.2 Bruker's Duty To Notify and Cooperate. Bruker will give HP prompt notice of any third party claim, tender the defense, permit HP to control the defense, and provide information and reasonable assistance to HP at Bruker's expense.

16.3 Either Party's Right to Defend. The party providing any indemnification under this Section 16 shall have complete control of the defense and settlement of the matter subject to indemnification. If an indemnified party under Section 16 decides to retain its own counsel in connection with the matter where it is receiving indemnification, such indemnified party shall do so at its sole cost and expense, and such counsel shall have no role other than a monitoring role.

16.4 Other Third Party Claims. Each party will be responsible for its own defense against third party claims not covered by the provisions above. The parties will co-operate with one another in defending against such third party claims.

16.5 Pending Litigation. Bruker will assume the complete defense of the existing ITMS law suit and any new law suits brought by Finnigan Corporation against the Parties in Bruker's Core Areas as of the Effective Date and will be solely responsible for the selection of counsel and prosecution or settlement of the suit. HP will provide reasonable assistance to Bruker upon request, at HP's expense. Bruker will pay all costs of the defense incurred after the Effective Date. Bruker will pay any settlement and any final adverse judgment. Bruker is not liable for any of HP's defense costs incurred prior to the Effective Date.

ARTICLE 17 - RESPONSIBILITIES FOR SALES OF ESQUIRE-LC SYSTEMS

17.1 Co-Branding. Bruker will continue to affix the trademarks and logotypes of both Bruker and HP to the Esquire-LC systems that Bruker makes.

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17.2 Sales of Esquire Kits. HP will continue to sell to Bruker the HP Esquire-LC Kit, the HP APCI accessory and certain HP software related to Esquire-LC to Bruker as is described in Appendix 4. Bruker may purchase the HP software and HP hardware related to Esquire-LC through Bruker's OEM and DTD agreement with HP at the prices set out in such agreements. The prices for the Esquire-LC kits and APCI accessory are set out in an exhibit entitled "Pricing of HP Esquire-LC kits and APCI accessory" which is attached as Appendix 4. Bruker is responsible for determining the final amount of Esquire-LC kits to be ordered from HP.

17.3 Marketing Esquire-LC Systems in the United States and Canada

17.3.1 Division of Responsibilities. In the United States and Canada , HP's primary area of responsibility for promotion and sale of Esquire-LC Systems will be the commercial (for-profit) market plus HP's established customer base in the non-profit market. In the United States and Canada , Bruker's primary area of responsibility for promotion and sale of Esquire-LC Systems will be the non-profit market plus Bruker's established customer base in the commercial market. "Non-profit" means institutions such as governments, universities, hospitals, and research institutions that do not market products with an expectation of ultimately earning a profit. Representatives of HP and Bruker may, from time to time, meet to discuss whether each Party is effectively serving its primary area of responsibility, but nothing stated in this Section 17.3.1 or in any such meeting or discussion will prevent either Party from accepting, orders for Esquire-LC Systems outside its primary area of responsibility.

17.3.2 Purchases of Esquire-LC Systems and Accessories. HP may purchase Esquire-LC Systems and related accessories,, such as the Bruker nanoelectrospray ionization source, from Bruker for resale to commercial customers in the United States and Canada. Such purchases will be at transfer prices equal to Bruker's list prices in effect when HP submits its order, less a [*](7) discount. HP also may purchase the Bruker nanoelectrospray ionization source, for resale with the HP 1100 Series LC/MSD at a transfer price equal to Bruker's list price for the nanoelectrospray accessory in effect when HP submits its order, less an [*] discount.

17.3.3 Service and Support of Esquire-LC Systems.

17.3.3.1 HP will, at HP's expense, provide demos, first-line phone service and field support for simple problems, administration of warranties and service, hardware warranty of HP products and parts, and support for applications software arising from HP sales of Esquire-LC Systems.

17.3.3.2 Bruker will, at Bruker's expense, provide installation services for Esquire-LC systems (but not the HP 1100),, phone support and field service for serious problems, hardware warranty for products and parts not supplied by HP, software phone support, and support for applications (at the factory only). If Bruker's sales and service affiliate does not provide such services in a timely manner, HP may contact Bruker and Bruker either will dispatch an engineer from the factory to provide the service or authorize HP to provide the service, in which case HP may invoice Bruker and Bruker will reimburse HP for HP's actual cost of providing such service for HP customers.


(7) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

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17.4 Marketing Esquire-LC Systems in Other Countries.

17.4.1 Responsibilities. In Europe and other countries outside the United States and Canada, Bruker shall have primary responsibility for promotion and sales of Esquire-LC systems. In Europe and other countries outside the United States and Canada, HP shall promote and co-market the Esquire-LC with Bruker. From time to time HP can sell to HP's established customer base in Europe and other countries outside the United States and Canada. Nothing contained in this section 17.4.1 will prevent either party from accepting orders outside of its primary area of responsibility.

17.4.2 Commission for Sales of Esquire-LC Systems in Other Countries after Effective Date. Bruker will pay HP for promoting, marketing, and assisting., Bruker in selling Esquire-LC Systems in countries other than the United States and Canada by paying HP a commission upon each sale of an Esquire-LC System where substantive sales support is provided for a particular sale. The company receiving the sales lead and substantive sales support has the sole responsibility to determine whether or not the consummated sale was a direct result of the sales lead and sales support passed on by the other company. The commission on all such sales after the effective date will be [*](8) of -the net value of the order exclusive of all commissions, freight charges, duties or taxes.

17.4.3 Reports of Sales and Payments of Commissions. Bruker will report its sales and shipments of Esquire-LC Systems in all countries on a monthly basis within three business days after the end of each month. Bruker will pay all commissions due HP within 15 days after the end of each HP Fiscal Quarter.

17.4.4 Commission for Sales of Esquire-LC Systems in Other Countries Prior to Effective Date. Bruker has paid HP a sales commission of [*] rate of the German list price on sales of six Esquire-LC systems. This payment was in addition to the commission already paid by Bruker on three Esquire-LC systems sold under Amendment 3 of the Old Contract. HP agrees that Bruker does not owe HP any additional commissions for sales of ESQUIRE-LC systems prior to the Effective Date.

17.5 Marketing of other Products Not Using Shared Technology Nothing contained in this Article 17 will be construed in any way to restrict or limit either Party with regard to promotion, distribution or sale of either Party's non-ITMS products that do not incorporate shared technology.

ARTICLE 18 - DISPOSITION OF RESEARCH FUNDS

HP heretofore paid Bruker [*] to help fund development of the Esquire/Gemini product line under the Old Agreement. If the Gemini MS and Gemini R&D MS are developed and introduced in accordance with the Gemini Project Plan, or mutually agreed upon changes to the Gemini Project Plan, Bruker will permanently retain the [*]. Otherwise, Bruker will forwith refund all of the [*] to HP.

ARTICLE 19 - PUBLICITY


(8) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

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19.1 Endorsements. Bruker and HP will consider each other's reasonable requests for endorsements of technical capabilities or the technology in each Party's respective core area. However, neither Party is obligated to endorse or give public testimonials respecting the other.

19.2 Publicity. The Parties will collaborate respecting publicity. Neither Party will issue any notice to third parties or generate any publicity concerning this Agreement or the relationship of the Parties without the prior written consent of the other, except as may be required by law.

ARTICLE 20 - TERM, TERMINATION AND EXCLUSIVITY

20.1 Engineering Collaboration on the Gemini/Gemini R&D and Other ITMS. The initial term of engineering collaboration on ITMS products, including the Gemini/Gemini R&D MS, commenced on January 19, 1996, under the Old Agreement, and will continue under this Agreement through [*](9). The Parties will continue their engineering collaboration after [*], for successive terms of one year through [*], unless one Party gives notice to the other Party, on or before [*] or September 1 of any subsequent year, that such Party does not want to extend the collaboration beyond the end of that year. The period of time from January 19, 1996, through the termination of engineering collaboration on [*], or on such date in such later year, up to [*], if the Parties extend the engineering collaboration, will be called the Engineering Collaboration Period. Certain provisions of this Agreement related to the engineering collaboration, specifically Section 2.9 - Meetings and Reviews, Article 3 - Over-view of the Gemini Program, Article 4 - Specifications for the Gemini/Gemini R&D MS, Article
5 - Design and Development of the Gemini/Gemini R&D MS, Article 11 - New Development Projects, Article 19 - Publicity, and Section 20.2.1 - Exclusivity will be in effect from the Effective Date until [*], and will be the extended automatically each year for an additional period of one year through [*], unless one Party gives notice to the other Party, on or before [*], or September 1 of any subsequent year, that such Party does not want to extend the collaboration beyond the end of that year, in which case these provisions will expire or terminate upon the expiration or termination of the engineering collaboration (
i.e. the end of the Engineering Collaboration Period). After the Engineering Collaboration Period neither Party will have any obligations; under such provisions. The obligations of the Parties to disclose inventions, as provided in Section 14.4, extends beyond the Engineering Collaboration Period, but applies only to inventions made during the Engineering Collaboration Period. The obligations to grant licenses under patents covering Development Inventions, as provided in Article 14, extends beyond the Engineering Collaboration Period, but applies only to Development Inventions made during the Engineering Collaboration Period.

20.2 Exclusivity.

20.2.1 Exclusivity during the Collaboration Period. During the Engineering Collaboration Period, HP will not design, develop or manufacture an RIF ITMS, except as provided herein, or enter into any agreement with a third party for the design, development, manufacture or distribution of an RIF ITMS, other than an RF ITMS jointly developed by the Parties hereunder. However, HP's unrestricted right to distribute the Gemini and its successor products developed under this Agreement shall not be limited by this Section 20.2. 1.


(9) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

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During the Engineering Collaboration Period, Bruker will not design, develop or manufacture a commercial LC/MS/MS API-ITMS, except the Gemini R&D and its successor products, as provided in this Agreement, or enter into any agreement with a third party analytical instruments company for the design, development, manufacture or distribution of a commercial LC/MS/MS API-ITMS, other than an RF UMS jointly developed by the Parties hereunder. However, Bruker's unrestricted right to distribute the Gemini R&D and its successor products developed under this Agreement shall not be limited by this Section 20.2. 1.

A specific exception to this exclusivity section 20.2.1, is that Bruker always has the unencumbered right to design and develop any ITMS technology and systems for final customers in the Department of Defense, other government agencies, or their prime contractors or subcontractors for use in the course of their work on a government contract.

Moreover, during the Engineering Collaboration Period and thereafter, Bruker has the unencumbered right to give non-exclusive licenses for its ITMS technology to any other party at any time at Bruker's sole discretion. Similarly, HP has the right to give non-exclusive licenses for its technology to any party at any time.

20.2.2 Exclusivity if HP gives notice. If HP gives notice to Bruker, pursuant to section 20.1, that it does not want to extend the Engineering Collaboration Period, then (1) HP shall not directly market or distribute any ITMS-based products, other than ITMS systems procured from Bruker, and Bruker shall continue to make such systems available to HP at competitive pricing and performance, for a period of four years from the date that HP gives such written notice, and (2) HP shall continue to make the components which it is selling to Bruker at the time of the notice available to Bruker at competitive pricing and performance, for a minimum of two years from the date that HP gives such written notice. Both Parties will develop a mutually agreed upon plan to maintain a competitive advantage for instrument pricing and performance compared with other state of art ITMS systems during the post-Collaboration period. Both parties will continue to supply parts to each other beyond the minimum two year period pursuant to Section 20.3.

20.2.3 Exclusivity if Bruker gives notice. If Bruker gives notice to HP, pursuant to Section 20.1, that it does not want to extend the Engineering Collaboration Period, then neither Party is under any continuing obligation under this Section 20.2. If Bruker gives written notice that it does not want to extend the Engineering Collaboration Period, then for a period of two years from the date that Bruker gives written notice (1) Bruker shall continue to make ITMS systems jointly developed under this agreement available to HP at competitive pricing and performance, as provided in Section 20.3, and (2) HP shall continue to make the components which it is selling to Bruker at the time of the notice available to Bruker at competitive pricing and performance. Both Parties will develop a mutually agreed upon plan to maintain a competitive advantage for instrument pricing and performance compared with other state of art ITMS systems during the post-collaboration period. Both Parties will continue to supply parts to each other beyond the minimum two year period pursuant to Section 20.3.

20.3 Manufacturing and Selling Gemini Products and Other ITMS Products. Notwithstanding the expiration or termination of the Engineering Collaboration Period, the Parties will continue to manufacture and sell to each other Gemini Products, and any comparable or successor products for any other ITMS jointly developed by the Parties under this Agreement, in accordance with Article 7 and

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Article 8 for at least two years after the expiration of the Engineering Collaboration Period. If Bruker obsoletes the Gemini R&D MS and removes the product from its price list, or if the number of HP Gemini R&D Kits that Bruker orders from HP declines below 5 per calendar quarter for two successive quarters, HP may notify Bruker that HP will discontinue manufacturing HP Gemini Products, in which event, HP will allow Bruker to make one last-time buy of HP Gemini Products, within three months of such notice, after which HP will no longer be obligated to accept purchase orders for or sell HP Gemini Products to Bruker. If HP obsoletes the Gemini MS and removes the product from its price list, or if the number of Gemini MS that HP orders from Bruker declines below 5 per calendar quarter for two successive quarters, Bruker may notify HP that Bruker will discontinue manufacturing Bruker Gemini Products, in which event, Bruker will allow HP to make one last-time buy of Bruker Gemini Products, within three months of such notice, after which Bruker will no longer be obligated to accept purchase orders for or sell Bruker Gemini Products to HP. Notwithstanding the preceding two sentences, each Party will sell replacement parts to the other, in accordance with Section 10.3, for at least five years after the later of the last sale of a Gemini MS by Bruker to HP or the last sale of an HP Gemini R&D Kit by HP to Bruker. This section 20.3 shall also apply to any HP and Bruker successor products developed under this Agreement.

20.4 Service and Support. Bruker will continue to provide service and support, both in- warranty and out-of-warranty, in accordance with Article 10, for at least five years after its last sale of a Gemini NIS to HP. HP will continue to provide service and support, both in-warranty and out-of-warranty, in accordance with Article 10, for at least five years after its last sale of an HP Gemini R&D Kit to Bruker. Bruker will not be required to provide a Failure Report under
Section 10.4 after HP's last sale of an HP Gemini R&D Kit to Bruker. HP will not be required to provide a Failure Report under Section 10.4 after Bruker's last sale of a Gemini MS to HP. This section 20.4 shall also apply to any HP and Bruker successor products developed under this Agreement.

20.5 Termination of Engineering Collaboration Period for Default.

20.5.1 Right to Terminate. If, during the Engineering Collaboration Period, either Party (a) commits a material breach of its obligations hereunder or (b) files for bankruptcy or receivership or does not dismiss a petition for involuntary bankruptcy filed against it within 60 days of such filing, either of which will be deemed a default hereunder, the other Party may terminate the Engineering Collaboration Period on a date earlier than that prescribed in
Section 20.1.

20.5.2 Material Breach. A material breach would include, by way of example and not a limitation: (1) failing to meet and. collaborate on critical tasks for which collaboration is required for the successful development of Gemini/Gemini /R&D MS or subsequent product, without good cause; (2) stopping work on the project to develop Gemini/Gemini /R&D MS or subsequent product, without good cause; (3) refusing to furnish parts, components, or instruments for which a Party is responsible to the other Party in accordance with the Gemini Project Plan (or the corresponding Project Plan for a new product), without good cause,
(4) disclosing or misusing Confidential Information of a Party, in violation of Article 13, to the material detriment of such Party; or (5) failing to make available improvements in a Party's Core Areas as required by Section 11.2 and
Section 11.3; (6) willfully failing to disclose Development Inventions (7) violating the exclusivity in Section 20.2, (8) failing to ship or being materially late in shipping Gemini Products or other products jointly developed hereunder; and (9) attempting to assign this Agreement in violation of Section 22.5.

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20.5.3 Not Material Breach. The following, by way of example and not of limitation, would not be considered a material breach giving rise to the right to terminate engineering collaboration: (1) delays in the development of a product caused by Force Majeure or substantial unanticipated technical problems;
(2) failing to attain a desired target in the specifications; (3) inadvertent or minor delays in the development project that are promptly corrected; and (4) minor delays in manufacturing and delivering Gemini Products or other products jointly developed hereunder where such delays do not cause a significant disruption of the other Party's ability to sell and deliver products to its customers.

20.5.4 Notice and Opportunity to Cure Default and Resolve Dispute. Before terminating the Engineering Collaboration Period under this Section 20.5, a Party who has the right to terminate under Sub-Section 20.5.1, must send the other Party a written notice of default setting out the grounds for such early termination. The Party receiving such a notice of default must cure the default within 90 days of receipt of such notice. If it is not technically feasible to cure the default within such 90 days, then within such 90 days the Party receiving the notice of default must submit to the Party who has the right to terminate a mutually acceptable plan to cure the default and proceed to cure the default under such plan. If the Party in Default has not cured the default or presented a mutually acceptable plan to cure the default within such 90 days, the Party with the right to terminate may thereafter terminate the Engineering Collaboration Period by sending the Party in default a written notice formally terminating the Engineering Collaboration Period on the date specified in such notice. If the Party receiving a notice of default disputes in good faith the right of the other Party to terminate the Engineering Collaboration Period, it may, in addition to, or in lieu of, curing the default or presenting a mutually acceptable plan to cure the default, initiate actions to resolve the dispute in accordance with Article 21. If the Party receiving a notice of default initiates the dispute resolution process under Article 21 and proceeds in good faith to resolve the dispute, the Party sending the notice of default will postpone sending any notice formally terminating the Engineering Collaboration Period for an additional 90 days while the Parties are engaged in resolving the dispute. The Parties may continue trying to resolve any dispute under Article 21 even after a Party terminates the Engineering Collaboration Period under this Section
20.5. If the Parties resolve a dispute after the Engineering Collaboration Period has been terminated under this Section 20.5, the Parties may, by mutual agreement, rescind the early termination, in which event the Engineering Collaboration Period will be determined in accordance with Section 20. 1.

20.5.5 Consequences of Early Termination of Engineering Collaboration Period.

20.5.5.1 Termination By Either Party. If either Party terminates the Engineering Collaboration Period under this Section 20.5, neither Party will be obligated to collaborate on development projects thereafter. The obligations of the Parties under Section 2.9- Meetings and Reviews, Article 3 - Overview of the Gemini Program, Article 4 - Specifications for the Gemini/Gemini R&D MS, Article 5 - Design and Development of the Gemini/Gemini R&D MS, Article 11 - New Development Projects, Article 19 - Publicity, and Section 20.2.1 - Exclusivity will terminate. Notwithstanding the Early Termination of engineering collaboration, if the Parties have commenced manufacturing and selling Gemini/Gemini R&D Products, the Parties will continue their relationship in accordance with
Section 20.3.

20.5.5.2 Termination by Bruker. If Bruker terminates the Engineering Collaboration Period under this Section 20.5 for default by HP, Bruker may retain the Research Funds, but if Bruker has not shipped the minimum quantity of Gemini MS specified in Section 9.1, then Bruker will forthwith refund any

41BRUKER-HP Collaboration Agreement 31


CONFIDENTIAL HEWLETT-PACKARD - BRUKER

remaining Security Deposit. If Bruker terminates the Engineering Collaboration Period under this Section 20.5 for default by HP, then HP shall not market or distribute directly or indirectly any ITMS-based products, other than ITMS systems procured from Bruker, and Bruker shall continue to make such systems available to HP at competitive pricing and performance, for a period of four years after such early termination by Bruker; however, if Bruker is in default or subsequently commits a material breach of this Agreement or becomes in default, then this restriction upon HP will not apply.

20.5.5.3 Termination by HP. If HP terminates the Engineering Collaboration Period under this Section 20.5 for default by Bruker, prior to the market introduction of the Gemini MS, then Bruker will forthwith refund to HP the Research Funds according to Article 18. If HP terminates the Engineering Collaboration Period under this Section 20.5 for default by Bruker and if Bruker has not shipped the minimum quantity of Gemini MS specified in Section 9.1, then Bruker will forthwith refund to HP any remaining Security Deposit.

ARTICLE 21 - DISPUTES BETWEEN THE PARTIES

21.1 Initial Dispute Resolution. The Program Managers will meet and confer as needed to resolve any disputes between the Parties. If the Program Managers are unable to resolve a dispute, they will refer it to the Business Managers.

21.2 Escalation of Dispute. Any dispute that the Business Managers are unable to resolve will be referred to senior executives of the Parties. The senior executives will meet and confer in good faith to resolve the dispute.

21.3 Mediation. If the Parties have not resolved the dispute within thirty days of the first meeting of the senior executives, any Party may initiate formal mediation. Mediation will take place in Boston, Massachusetts unless the Parties agree otherwise. The Parties will select a mediator. If the Parties are unable to agree on a mediator, any Party may ask the American Arbitration Association to appoint a mediator with experience in the analytical chemistry industry. The mediator will agree in writing to hold in confidence any information that a Party designates as confidential. All communications made by the Parties in connection with mediation will be treated as settlement negotiations and will not be admissible in any other proceeding.

21.4 Litigation; Injunctions. If the Parties have not resolved the dispute through mediation within ninety days of the initiation of mediation, any Party may initiate litigation to resolve the dispute. No Party may initiate litigation until the above procedure has been followed. However, any Party may at any time seek injunctive relief to prevent imminent, irreparable harm.

21.5 Choice of Law. The substantive laws of the State of New York, which are well developed and provide a preferable structure for commercial transactions, will govern this Agreement, without regard to the principles of conflict of laws.

21.6 Forum. Any lawsuit may be brought in the U.S. District Court for the District of Massachusetts if the requirements for federal jurisdiction are met, or in the Middlesex Superior Court in Massachusetts if the requirements for federal jurisdiction are not met. All Parties consent to the exercise of personal. jurisdiction by these courts.

41BRUKER-HP Collaboration Agreement 32


CONFIDENTIAL HEWLETT-PACKARD - BRUKER

ARTICLE 22 - MISCELLANEOUS

22.1 Legal Status of the Parties. Each Party is an independent contractor. This Agreement does not create a joint venture, partnership, or other legal entity.

22.2 No Third Party Beneficiaries. This Agreement is intended for the sole benefit of the Parties hereto, and unless expressly provided herein, no rights or powers shall arise hereunder in favor of any third party.

22.3 Force Majeure. The failure of any Party to perform hereunder as a result of governmental action, laws, orders, or regulations, or as a result of disasters, such as war, acts of public enemies, fires, floods, earthquakes, acts of God or any causes of like kind beyond the reasonable control of such Party is excused for so long as such cause exists.

22.4 Exports. Each Party will comply with applicable laws and regulations of the United States, the European Community, and Germany relating to export of goods and technical data. The Parties will not export or re-export any technical data, the direct product of such technical data, or any products received from any other Party to any proscribed country unless properly authorized.

22.5 No Assignment. No Party may assign any of its rights or obligations hereunder (except the right to receive money) without the prior written consent of the other Party. However, consent is not required for an assignment in connection with a change of the state of incorporation of a Party, a merger of a Party into its parent corporation, or a transfer of the business with which this Agreement is associated to an Affiliate of a Party. No assignment will relieve any Party of responsibility for its obligations hereunder, but consent to a request for a transfer of such responsibility to a successor in interest or to a transferee of the business will not be unreasonably withheld. Any purported assignment by a Party in violation of this Section will be voidable by the other Party.

22.6 Rules of Construction and Interpretation. This Agreement was prepared by the Parties in negotiation. No Party will be considered the drafter and this Agreement will be construed without strict construction in favor of or against any Party.

22.7 No Waiver. Waiver of any provision of this Agreement will not be deemed a continuing waiver of that provision or a waiver of any other provision.

22.8 Severability. If any provision of this Agreement is held to be ineffective, unenforceable or illegal for any reason, such decision will not affect the validity or enforcement of any or all of the remaining portions thereof.

22.9 Integration; Supersession; and Amendments. This Agreement, including the Recitals, together with the Appendices identified below, contains the entire understanding of the Parties as to its subject matter. This Agreement supersedes and replaces the Old Agreement and any other prior agreements or understandings between the Parties as to this subject matter. If there are any conflicts between any provision in this Agreement and a provision in an Appendix the provision in this Agreement will prevail. Any waiver, modification or exception to this Agreement must be in writing and signed by a

41BRUKER-HP Collaboration Agreement 33


CONFIDENTIAL HEWLETT-PACKARD - BRUKER

duly authorized company representative. Any such waiver, modification or exception in a given instance will not be deemed a waiver, modification or exception as to other or future actions or circumstances. The following Appendices are part of this Agreement:

22.9.1 Appendix I - Gemini Product Data Sheet
22.9.2 Appendix 2 - Gemini Project Plan
22.9.3 Appendix 3 - Pricing of IIP and Bruker Kits, Instruments Accessories, and Software
22.9.4 Appendix 4 - Pricing of HP Esquire-LC Kit and Instrument and APCI Prices

22.10 Bruker has been and intends to continue purchasing HP Analytical Chemistry Products from HP under a DTD Agreement and/or an Original Equipment Manufacturer's Agreement and reselling such products to Bruker's customers. Bruker and HP have been collaborating on sales activities, providing leads to one another under the terms of a Finder's Fee Agreement. The transaction under such agreements and the relationships governed by such agreements will continue to be governed by the terms of such respective agreements and are not abrogated or modified by this Agreement.

22.11 Counterparts. This Agreement may be signed in any number of counterparts, each of which will be deemed an original, but all of which will constitute one and the same instrument.

41BRUKER-HP Collaboration Agreement 34


CONFIDENTIAL HEWLETT-PACKARD - BRUKER

EXECUTION

IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives on the date written below.

BRUKER DALTONIK GmbH                     HEWLETT-PACKARD COMPANY


By  /s/ Frank H. Laukien                 By  /s/ Richard F. Begley
  ------------------------                 --------------------------------

Printed Name  Frank H. Laukien           Printed Name  Richard F. Begley
            --------------------                     ----------------------

Title  Managing Director                 Title  General Manager - CAD
     ---------------------                    -----------------------------


By  /s/ Dieter Koch                      By  /s/ Richard D. Kniss
  -------------------                      --------------------------------

Printed Name  Dieter Koch                Printed Name  Richard D. Kniss
            ---------------                          ----------------------

Title  Managing Director                 Title  V.P. & General Manager CAG
     ---------------------                    -----------------------------

Date  May 3, 1999                        Date  April 28, 1999
    ---------------                          ------------------------------


41BRUKER-HP Collaboration Agreement    35


CONFIDENTIAL HEWLETT-PACKARD - BRUKER

Gemini Product Data Sheet

Appendix 1 to Bruker-HP Collaboration Agreement

Document Information:
--------------------------------------------------------------------------------
Filename                      Gemini.pds.doc
--------------------------------------------------------------------------------
Current Owner                 Michael Schubert, John Fieldsted, Ken
                              Imatani, Sebastian Meyer-Plath
--------------------------------------------------------------------------------
Product Identifier            G2440A LC/MS Detector
--------------------------------------------------------------------------------
Project Identifier            Gemini
--------------------------------------------------------------------------------
Current Lifecycle Phase       Entwurf/Investigation
--------------------------------------------------------------------------------

Revision Log:
Revision   Date        Reason for Update
--------------------------------------------------------------------------------
A.00      971114       Initial revision
--------------------------------------------------------------------------------
A.01      971117       Revisions to FURPS, decision priority list, and
                       critical success factors following review session by John
                       Fjeldsted, Steve Madden, Jim Bertsch, and Frank Cesarz
--------------------------------------------------------------------------------
A.02      971121       Revisions to related projects, boundary
                       conditions, project management team, and what project is
                       not following review session with Gemini project team
--------------------------------------------------------------------------------
A.03      971219       Revisions to FURPS following review by HP and BFA
                       Gemini project management team and LCQ
                       benchmarking phase 1
--------------------------------------------------------------------------------
A.04      980626       Update for Appendix to new HP-BFA Gemini contract,
                       by Ken Imatani, John Fjeldsted, Frank Kuhlmann,
                       Paul Goodley, Bryan Miller and Jim Bertsch; Change
                       of ownership from Bryan Miller to Ken Imatani
--------------------------------------------------------------------------------
A.05      14.7.98      Update by MS after discussions with SMP
--------------------------------------------------------------------------------
A.06      23.7.98      Update by MS after Review with BS and GH.
                       Clarifications regarding ESI HV supply for use
                       with nanospray, mass axis stability, trigger
                       outputs
--------------------------------------------------------------------------------
A.07      12.8.98      Update after discussions with John Fjeldsted
--------------------------------------------------------------------------------
A.08      24.8.98      Update after more discussions with John Fjeldsted
--------------------------------------------------------------------------------
A.09      29.9.98      Update after discussion on mass range issues
--------------------------------------------------------------------------------
A.10      9.10.98      Update
--------------------------------------------------------------------------------
A.11      18.1.99      Update
--------------------------------------------------------------------------------
A.12      31.3.99      Update
--------------------------------------------------------------------------------
A.13      Apr. 8, 99   Reformated Header, deleted "Draft, for discussion
                       only" (JF)
--------------------------------------------------------------------------------
A.14      Apr. 15, 99  Added "Appendix 1 to Bruker-HP Collabor..." (JF)
--------------------------------------------------------------------------------
A.15      Apr. 21, 99  Changed language:  stretch goals-> desired targets
                       (MS)
--------------------------------------------------------------------------------
                       Instructions: Manually enter the document revisions here
                       and update the corresponding footer revision each time
                       revision log changed. Revision text should include
                       location, time, participants, (R&D, marketing, product
                       support) and a summary of the changes. Also state the
                       revision control system used to recover revisions.
--------------------------------------------------------------------------------

[*] Remaining two pages of Appendix 1 have been marked confidential.(10)


(10) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

41BRUKER-HP Collaboration Agreement 36


CONFIDENTIAL HEWLETT-PACKARD - BRUKER

Gemini Product Data Sheet

Appendix 2 to Bruker-HP Collaboration Agreement

[*] Twenty-four pages of Appendix 2 have been marked confidential.(11)


(11) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

41BRUKER-HP Collaboration Agreement 37


CONFIDENTIAL HEWLETT-PACKARD - BRUKER

Appendix 3
Pricing of HP & Bruker Kits, Accessories,
Software & Instruments

                                                                       Ship Release     Jan 1, 2001       Jan 1, 2002
HP Esquire-LC Kit sold to Bruker US$, G1961A (230V version)            through          through           and
HP Esquire-LC Kit sold to Bruker US$, G1963A (208V version)            through          through           and
HP Gemini R&D Kit sold to Bruker US$ (fast pos/neg switching)          [*](12)          [*]               [*]

HP Gemini Kit sold to Bruker US$
(standard positive/negative switching)                                 [*]              [*]               [*]

Bruker Value Add Price to HP US$                                       [*]              [*]               [*]

Bruker Value Add Price to HP US$ (fast pos/neg switching)              [*]              [*]               [*]

HP Price Paid to Bruker for Gemini Instrument US$                      [*]              [*]               [*]

HP Price Paid to Bruker for Gemini Instrument US$                      [*]              [*]               [*]
(with positive/negative switching)

HP Gemini Ship Kit sold to Bruker US$                                  [*]              [*]               [*]

HP Gemini Kit without source parts as given in Project Plan, sold
to Bruker US$ for up to 10 Kits of such ind per year                   [*]              [*]               [*]

HP APCI sold to Bruker US$                                             [*]              [*]               [*]

HP Peptide Tools sold to Bruker sales outside US only, US$*            [*]              [*]               [*]

HP Deconvolution plus Peptide Tools sold to Bruker,
sales inside US only, US$                                              [*]              [*]               [*]

Bruker Nanoelectrospray sold to HP, DM                                 [*]              [*]               [*]

Sales of Bruker Software to HP and Sales of HP Software
to Bruker, discount off list                                           [*]              [*]               [*]

* This price may increase if/when HP increases the list price. The same formula that was used initially would apply (HPList - [*]) Bruker can sell the jointly developed deconvolution software outside of the United States, where no AOB license fee is due. In Europe and Asia-Pacific countries, Bruker may purchase from HP Peptide Tools bioanalysis software at the price specified in this appendix. In the United States by purchasing deconvolution and Peptide Tools from HP at the price specified in this appendix, Bruker obtains a licensed product for re-sale to its customers which includes the fee due to AOB.

Spare Parts Pricing: The formula for pricing spare parts will be cost of material multiplied by [*].


(12) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

41BRUKER-HP Collaboration Agreement 38


CONFIDENTIAL HEWLETT-PACKARD - BRUKER

                                   Appendix 4
                  Pricing of Esquire LC Kit, Instrument & APCI
                  Prices effective until Introduction of Gemini

HP Esquire LC Kit sold to Bruker US$*, G1961A (230V version)      [*](13)
HP Esquire LC Kit sold to Bruker US$*, G1963A (208V version)      [*]

HP APCI sold to BFA US$**, G1962A                                 [*]

Price for purchases of the Esquire LC instrument by HP from Bruker will be the US list price less a discount of [*].

*The Price of the HP Esquire Kit sold to Bruker will decrease whenever Bruker decreases the US List price of the Esquire Instrument. The reduction of the Esquire Kit price will be the same percentage as the Esquire US List price is reduced. The current US List for the Esquire instrument is $179,000.

**APCI pricing will be replaced with the APCI pricing for Gemini once Gemini starts shipping.

Components of the Esquire-LC Kit:

1. API Source Inlet and electrospray source as developed for HP 1100 Series LC/MSD (spray chamber, nebulizer, integrated drying gas heater, sampling capillary, dual skimmer differential pumping stages, split octopole ion guide, and lens focusing optics, modified LC/MSD cast manifold - per current Bruker drawing, baffle, vacuum hoses and interconnection between pumps, and source covers). The ESI source is compatible for flow rates from 1 to 1000 uL/min. The system can also accept an APCI source (from HP, optional) or nanoelectrospray (from Bruker, optional). This product does not have an autocalibration system.

2. Pumping system as developed for LC/MSD (Edwards E1M18 rough pump, 250l/s split-flow drag-stage turbo pump, 70l/s drag-stage turbo pump; two turbo controllers.

3. Gas Flow Control Assembly as developed for LC/MSD (valves and manifold for the control of the nebulizer and drying gas flows, no electronics included.

4. Customized Octopole RF drive printed circuit assembly for split octopole ion guide.

5. License for production of multiply charged ions by electrospray on the ESQUIRE-LC (this does not include deconvolution software).

6. HP LC ChemStation software (G2170AA, (version A.06); HP spectral Evaluation module (G2180AA, version A.06).

7. Jet Direct Card 4100A.


(13) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.

41BRUKER-HP Collaboration Agreement 39


Exhibit 10.8

Collaboration Agreement

by and between

Bruker-Franzen Analytik GmbH
Fahrenheitstr.4
28359 Bremen
hereinafter referred to as 'Bruker'

and

Sequenom Instruments GmbH
Mendelssohnstr. 15 D
22761 Hamburg
hereinafter referred to as 'Sequenom'

November 24, 1997

Preamble

(1) Bruker-Franzen Analytik develops and manufactures mass spectrometers and supplies such instruments on a worldwide scale.

Bruker-Franzen Analytik has exclusive intellectual property rights and know-how, covering

o MALDI-TOF mass spectrometer technology
o Pulsed Ion Extraction
o Multi-Target Acquisition
o Postprocessing XMASS(TM) software

Bruker-Franzen Analytik maintains an organisation appropriate for the manufacture, marketing and customer service with regard to such mass spectrometers.

(2) Sequenom has exclusive intellectual property rights and know-how, covering Sequenom's DNA MassArray(TM) technology basis and comprising

o Sample preparation and sample conditioning of nucleic acids, optimized for MS separation and detection
o DNA analysis application formats specifically designed for MS analysis (BiomassSIZE(TM), BiomassSCAN(TM), BiomassPROBE(TM), BiomassSEQUENCE(TM), BiomassINDEX(TM))


o Parallel processing features, applying DNA chips (SpectroChip(TM)) and multiplexing
o Separation and detection of nucleic acids by MS, incl. analytical and diagnostic applications.

(3) The parties intend to establish a broad relationship focusing on nucleic acid analysis by mass spectrometry subject to the experience within this Collaboration.

Collaboration

(1) Bruker-Franzen and Sequenom intend to collaborate in the manufacture and marketing of and in the provision of customer service for 2D-array MADI-TOF mass spectrometers designed to process Sequenom's SpectroChips(TM) (the 'Mass Spectrometer') under a joint Bruker-Franzen - Sequenom logo.

The Mass Spectrometer will be made available as stand-alone instrument and will be integrated by Sequenom in collaboration with highly qualified instrument manufacturers in the area of microliter and nanoliter liquid handling, mass spectrometry and system integration in modular analytical lines (the 'Modular System'), comprising automatic liquid handling modules, DNA amplification and sequencing modules, sample-to-chip transfer modules and controlling and data management units. The Modular System will be designed to run applications of Sequenom's DNA MassArray(TM) software.

(2) Bruker-Franzen will design and manufacture the Mass Spectrometer, meeting the specifications required for use in the DNA MassArray(TM) process and dedicated and appropriate to process Sequenom's SpectroChips(TM), including the XY-stage component and signal acquisition software. The parties will mutually agree on specifications for the Mass Spectrometer and the SpectroChip(TM). Bruker will make available to Sequenom the complete details of the interface, including software protocols and time behavior, enabling Sequenom to develop the specific application DNA MassArray(TM) software.

(3) The Mass Spectrometer will be available by June 30, 1998.

(4) Bruker-Franzen and Sequenom will promote the Mass Spectrometer under a joint label. The procedure will be defined on a case-by-case basis.

(5) Bruker-Franzen will market and provide service for the Mass Spectrometer on a world-wide scale and under the name of Bruker-Franzen and Sequenom.

(6) Sequenom will provide nucleic acid analysis services to customers and to corporate partners using DNA MassArray(TM)'

Sequenom will provide DNA MassArray(TM) application development, including necessary software, to Mass Spectrometry users.


Sequenom will develop, manufacture and market SpectroChips(TM) for whatever applications.

Business Terms

(1) Bruker-Franzen will supply the Mass Spectrometer to the market at a competitive market price (the 'Market Price').

(2) Sequenom maintains the option to purchase from Bruker-Franzen the Mass Spectrometer at a reduced price (the 'Supply Price').

The Supply Price will be calculated by deducting [*](1) from the Market Price, referring to the basic instrument, in the respective country of instrument delivery.

(3) Bruker-Franzen Analytik will provide one Mass Spectrometer to Sequenom, Hamburg as (beta) test site by June 30, 1998 without payment.

Initially, a prototype instrument equipped for handling of a single SpectroChip(TM) will be supplied by March 30, 1998. The Modular System in Hamburg will be used as demonstration and test site by both parties.

A second Mass Spectrometer will be supplied to Sequenom, San Diego, the price being the Supply Price, by June 30, 1998.

(4) The Mass Spectrometer will be locked by appropriate hardware and software features for the exclusive processing of Sequenom's SpectroChip(TM).

Timelines

(1) The Collaboration Agreement will come into force with the date of signature.

(2) The Collaboration Agreement may be terminated by either party at 12 months notice; such first notice of termination may, however, not be given earlier than 30 Dec. 1999.

Date:  December 4, 1997                   Date:  December 4, 1997
     ---------------------------               -------------------------
Bruker-Franzen                      Sequenom

--------

(1) [*] Indicates information has been omitted and separately filed with the Securities and Exchange Commission pursuant to an application for an order declaring confidential treatment thereof.


/s/  Dr. Franzen                    /s/ Hubert Koster


/s/  H.J. Baum


Exhibit 21.1

List of Subsidiaries of the Registrant

         Name                                              Jurisdiction
         ----                                              ------------
1.       Bruker Daltonics Ltd.                             England

2.       Bruker Daltonique S.A.                            France

3.       Nihon Bruker Daltonics K.K.                       Japan

4.       Bruker Daltonics AG                               Switzerland

5.       Bruker Daltonics Scandinavia AB                   Sweden

6.       ProteiGene, Inc.                                  Massachusetts, USA

7.       Bruker Daltonik GmbH                              Germany

8.       Bruker Saxonia Analytik GmbH*                     Germany

* Bruker Saxonia Analytik GmbH ("Saxonia") is an indirect subsidiary of the Registrant. Saxonia is 98% owned by Bruker Daltonik GmbH ("Daltonik");

Daltonik, in turn, is a wholly owned subisdiary of the Registrant.


Exhibit 23.1

CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS

We consent to the reference of our firm under the captions "Selected Financial Data" and "Experts" and to the use of our reports dated March 11, 2000 and February 3, 2000, in the Registration Statement (Form S-1) and related Prospectus of Bruker Daltonics, Inc. for the registration of its shares of common stock.

                                          /s/ ERNST & YOUNG LLP

Boston, Massachusetts


April 10, 2000


Exhibit 23.2

Bremen, April 13, 2000

CONSENT OF BDO, INDEPENDENT AUDITORS

We consent to the reference to our firm under the captions "Selected Financial Data" and "Experts" and to the use of our report dated April 6, 2000, in the Registration Statement (Form S-1) and related Prospectus of Bruker Daltonics Inc. for the registration of shares of its common stock.

BDO von Riegen, Lienau, Sucker & Partner GmbH

Wirtschaftsprufungsgesellschaft

/s/ signature                                  /s/ signature

(Sucker)                                       (Dr. Lienau)
Wirtschaftsprufer                              Wirtschaftsprufer





ARTICLE 5
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED 1999 FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.


PERIOD TYPE YEAR
FISCAL YEAR END DEC 31 1999
PERIOD END DEC 31 1999
CASH 2,443,142
SECURITIES 0
RECEIVABLES 12,203,888
ALLOWANCES 113,861
INVENTORY 25,441,844
CURRENT ASSETS 41,520,320
PP&E 43,984,242
DEPRECIATION 18,633,699
TOTAL ASSETS 67,309,060
CURRENT LIABILITIES 29,440,312
BONDS 12,843,582
PREFERRED MANDATORY 0
PREFERRED 0
COMMON 455,000
OTHER SE 9,602,649
TOTAL LIABILITY AND EQUITY 67,309,060
SALES 60,620,349
TOTAL REVENUES 64,690,450
CGS 31,617,724
TOTAL COSTS 62,050,058
OTHER EXPENSES (130,219)
LOSS PROVISION 0
INTEREST EXPENSE 907,682
INCOME PRETAX 1,862,929
INCOME TAX 986,887
INCOME CONTINUING 876,042
DISCONTINUED 373,477
EXTRAORDINARY 0
CHANGES 0
NET INCOME 1,249,519
EPS BASIC 0.03
EPS DILUTED 0.03