Document:

Prepared and filed by St Ives Financial

Exhibit
10.5

 

APPLERA
CORPORATION

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

Effective as of December 31, 2005

  

  

  
  TABLE
          OF CONTENTS

  	 ARTICLE
              1. INTRODUCTION	 1
	 	1.1	 Establishment
              of Plan	 1 
	  	1.2	 Purpose
              of the Plan	 1 
	 	 
	 ARTICLE
              2. DEFINITIONS	 2 
	  	2.1	 Definitions	 2
	  	2.2	 Number
              and Gender	 5
	 	 
	 ARTICLE
              3. PARTICIPATION AND SERVICE	 6
	  	3.1	 General	 6
	  	3.2	 Commencement
              of Participation	 6
	  	3.3	 Duration;
              Rehire	 6
	  	3.4	 Benefit
              Service	 6
	  	3.5	 Vesting
              Service	 6
	 	 
	 ARTICLE
              4. AMOUNT OF BENEFITS	 7
	  	4.1	 Accrued
              Benefit	 7
	  	4.2	 Rehired
              Individuals	 7
	  	4.3	 Effect
              of Domestic Relations Order	 8
	  	4.4	 Vesting	 8
	  	4.5	 Forfeiture	 8
	 	 
	 ARTICLE
              5. PAYMENT OF BENEFITS; DISABILITY AND DEATH BENEFITS	 9
	  	5.1	 Automatic
              Form of Benefit Payment	 9
	  	5.2	 Optional
              Forms of Payment	 9
	  	5.3	 Automatic
              Time of Benefit Payment	 9
	  	5.4	 Optional
              Time of Benefit Payment	 10
	  	5.5	 Manner
              and Time of Elections	 10
	  	5.6	 Disability
              Benefit	 10
	  	5.7	 Death
              Benefits	 10
	  	5.8	 Beneficiary
              Designation	 11
	  	5.9	 Erroneous
              Payments	 11
	  	5.10	 Rehire	 12
	 	 
	 ARTICLE
              6. SOURCE OF PAYMENTS	 13
	  	6.1	 Company
              Obligations and Source of Payments	 13
	  	6.2	 “Rabbi” Trust	 13
	 	 
	 ARTICLE
              7. ADMINISTRATION	 14
	  	7.1	 Committee	 14
	 	7.2	 Procedures
              for Requesting Benefit Payments; Claims Procedures	 15

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  	 ARTICLE
              8. AMENDMENT AND TERMINATION	 16
	  	8.1	 Amendment
              of the Plan	 16
	  	8.2	 Termination
              of the Plan	 16
	 	 
	 ARTICLE
              9. MISCELLANEOUS PROVISIONS	 17
	  	9.1	 Employment
              Rights	 17
	  	9.2	 No
              Examination or Accounting	 17
	  	9.3	 Records
              Conclusive	 17
	  	9.4	 Severability	 17
	  	9.5	 Counterparts	 17
	  	9.6	 Taxes	 17
	  	9.7	 Binding
              Effect	 17
	  	9.8	 Assignment	 18
	  	9.9	 Incapacity	 18
	  	9.10	 Unsecured
              Creditor	 19
	  	9.11	 Notice	 19
	  	9.12	 Benefits
              Not Salary	 19
	  	9.13	 Captions	 19
	  	9.14	 Governing
              Law	 19
	  	9.15	 Addresses	 19

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ARTICLE
1.   INTRODUCTION

 1.1     Establishment
        of Plan

Applera
        Corporation (the “Company”) establishes the Applera Corporation Supplemental Executive Retirement Plan (the “Plan”),
        effective as of
  December 31, 2005. 

   1.2     Purpose
of the Plan

  

  The
      purpose of this Plan is to provide supplemental retirement benefits for
      a select group of management or highly compensated employees of the Company.
      Payments under the Plan will be made from the general assets of the Company
      or from the assets of a Trust, if any, established as part of the Plan.
      It is intended that the Plan remain at all times a nonqualified plan and
      that the Trust, if any, will
constitute a grantor trust under Sections 671 through 679 of the Code. Until
      paid, any and all assets of any vehicle used for payment of benefits under
      this Plan will remain owned by the Company, subject to the claims of its
      general creditors in the
event of the Company’s insolvency.

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 ARTICLE
2.   DEFINITIONS

2.1     Definitions

Whenever used in this Plan, the following words and phrases will have the meanings set forth below unless a different meaning is expressly provided or plainly
required by the context: 

  (a)    “Accrued
  Benefit” means the amount payable to a Participant as a single life annuity
  at Normal Retirement Age pursuant to Section 4.1 of the Plan. 

  (b)     “Actuarial Equivalent” means
    a benefit having the same value as the benefit for which it is substituted. For
    purposes of determining the Actuarial Equivalent of any benefit as provided for
    under this Plan, the following factors will apply: Interest: 6%; and Mortality:
    RP2000 Mortality Table. 

  
(c)     “Beneficiary” means the person or entity
designated by a Participant or Former Participant pursuant to Section 5.7 to receive any death benefit payable under this Plan. If no Beneficiary is properly designated at the time of the Participant’s or Former Participant’s death, or if
no person so designated will survive the Participant or Former Participant, the Beneficiary will be the surviving spouse, or if there is no surviving spouse, the Participant’s or Former Participant’s
estate.

 (d)     “Benefit
Service” means the service described in Section 3.4. 

 (e)     “Board” means
the Board of Directors of the Company. 

 (f)     “Cause” means
termination of employment upon: 

 (1)      the
      willful and continued failure by the Participant to perform substantially
his duties with
an Employer (other
than any such failure resulting from the Participant’s incapacity due to
physical or mental illness) after a demand for a substantial performance is delivered
to the Participant by the Board which specifically identifies the manner in which
the Board believes that the Participant has not substantially performed his duties;
or 

(2)    the willful engaging by the Participant in illegal conduct which is materially and demonstrably
  injurious to an Employer. 

(g)     “Change in Control” means the occurrence
of an event that would be required to be reported (assuming such event has not been “previously reported”)
in response to Item 1(a) of the Current Report on Form 8-K, as in effect on the
date hereof, pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934; provided that, without limitation, such a Change in Control will be deemed
to have occurred at such time as: 

  (1)     any “person” within the meaning of Section 14(d) of the Securities Exchange Act of 1934 becomes the “beneficial
  owner” as defined in Rule 13d-3 thereunder, directly or indirectly, of more than 25% of the Company’s
  Common Stock;

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(2)     during
      any two-year period, individuals who constitute the Board of Directors
      of the Company (the “Incumbent Board”) as of the beginning of the period cease for any reason to constitute at least a majority thereof, provided that any person becoming a director
  during such period whose election or nomination for election by the Company’s
  stockholders was approved by a vote of at least three quarters of the Incumbent
  Board (either by a specific vote or by approval of the proxy statement of the
  Company in which such person is named as a nominee for director without objection
  to such nomination) will be, for purposes of this clause, considered as though
  such person were a member of the Incumbent Board; or 

  (3)     the
    approval by the Company’s stockholders of the sale
    of all or substantially all of the stock or assets of the Company. 

 (h)     “Code” means
the Internal Revenue Code of 1986, as amended from time to time. 

 (i)     “Committee” means
      the committee appointed by the Board in accordance with Section 7.1 of  this
      Plan. 

(j)     “Company” means
Applera Corporation and any successor thereto that agrees to assume the duties
and obligations of the Company hereunder. 

(k)     “Compensation” means
the base salary and annual bonuses paid by an Employer to a Participant while
in a position that the Board has designated as covered under the Plan. In applying
this definition, Compensation will be determined before the application of any
salary reduction under Code
Section 125, 132 and 401(k), and any deferred compensation agreement entered
into between the Participant and an Employer. Compensation for Plan purposes
will exclude all other forms of compensation, including but not limited to bonuses
other than annual bonuses, income derived from stock options, restricted stock
awards or other stock-based compensation; commissions; perquisites; expatriate
premiums; special payments; reimbursements and expense allowances; moving expenses;
fringe benefits;
income attributable to group-term life insurance; unused vacation paid in a lump
sum upon termination of employment; severance; long-term disability payments;
and contributions made by an Employer on behalf of the Participant to, and all
distributions from, qualified plans, nonqualified deferred compensation plans,
and excess benefit plans. 

(l)     “Disability” means
the Participant is, by reason of any medically determinable physical or mental
impairment that can be expected to result in death or can be expected to last
for a continuous period of not less than 12 months, receiving income replacement
benefits for a period of not less
than three months under an accident and health plan of an Employer. 

(m)     “Early Retirement Date” means
the first day of any month on and after a Participant reaches age 55, or completes
5 or more years of Vesting Service, if later. 

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  (n)     “Employer” means
  the Company, its subsidiaries, and any other entity that has adopted this Plan
  with the written approval of the Committee (acting in its discretion in a non-fiduciary
  capacity on behalf of the Company). 

  (o)     “Final Average Compensation” means the
  highest average Compensation of a Participant during any sixty (60) consecutive calendar months preceding the determination date. If a Participant has not been employed for a period of at least sixty (60) consecutive calendar months, Final Average
  Compensation will be determined taking into account Compensation for a period of up to sixty (60) of the most recent calendar months of a Participant’s
employment. 

(p)     “Former
  Participant” means either:

 (1)     Any
      former employee of an Employer who has a vested Accrued Benefit under the  Plan;
      or

(2)     Any
        current employee of an Employer who was a Participant under the Plan
        but who is not a current participant, regardless of whether such individual’s
Accrued Benefit is vested or nonvested. 

(q)     “Late Retirement Date” means
the first day of the month following the termination of employment of a Participant
who continues to work past his Normal Retirement Age. 

(r)     “Normal Retirement Age” is
  age 65, or the age at which the Participant completes 5 years of Vesting Service,
  if later. 

(s)     “Normal Retirement Date” is the first day
of the month on or after the Participant’s Normal Retirement Age. 

 (t)     “Participant” means
an employee who becomes a Participant as provided in Article 3. 

 (u)     “Plan” means
the Applera Corporation Supplemental Executive Retirement Plan, as established
by this document and as amended from time to time. 

(v)     “Plan Year” means the Company’s
fiscal year, which is the twelve month period beginning each July 1st and ending the following June
30th. 

  (w)     “Specified Employee” means
  a key employee (within the meaning of Code Section 409A(a)(2)(B)(i) and the regulations
  thereunder) of the Company at any time during the 12 month period ending on December
  31. If an individual is a key employee as of December 31, such person is a Specified
  Employee for the 12 month period beginning on the following April 1. 

(x)     “Trust” means a “rabbi” grantor
trust under Sections 671 through 679 of the Code which may be established pursuant
to this Plan. 

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(y)      “Trust
      Agreement” means
  any agreement entered into between the Company and the Trustee, that establishes
  the Trust, if any, to form a part of this Plan and to receive, hold, invest
and dispose of the Trust Fund. 

  (z)      “Trust Fund” means
  the assets of every kind and description held under any Trust Agreement forming
a part of this Plan. 

(aa)     
      “Trustee” means
any person or entity appointed to act as trustee under the Trust, if any.

      (bb)     
      “Vesting Service” means
      the service described in Section 3.5.

2.2      Number
and Gender

Except when otherwise indicated by the context, any use of any term in the singular or plural will also include the opposite. As used in the Plan, the masculine
gender will be deemed to refer to the feminine whenever appropriate. 

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ARTICLE 3.     PARTICIPATION AND SERVICE

3.1   General

Participation in the Plan is limited solely to a select group of management or highly compensated employees who have been approved by the Board to be covered under
the Plan. The initial group of individuals eligible for the Plan are identified in Appendix A. No other individuals will be eligible to participate in the Plan without written approval of Board. 

3.2   Commencement
of Participation

An individual will become a Participant in the Plan as of the date the individual is approved to be covered under the Plan under Section 3.1. 

 3.3      Duration;
Rehire

(a)      Participant. An individual who becomes a
Participant will continue to be a Participant until the individual terminates employment with an Employer or until the Board determined that the individual is no longer eligible to be covered under the Plan. 

(b)      Former Participant. An individual will continue to
be a Former Participant until payment of his Accrued Benefit begins; his Accrued Benefit is forfeited pursuant to Section 4.5; or he once again becomes a Participant pursuant to Section 3.3(c) . 

(c)      Rehire. A Former Participant who resumes employment with an Employer will once again become a
  Participant on the later of the date he resumes service for an Employer or the date the Board approves the individual to be covered again under the Plan. 

  
  3.4      Benefit
Service

Benefit
      Service will include the Participant’s aggregate periods of employment with an Employer in a position that the Board has determined is eligible for
benefit credit under the Plan (determined in periods of whole months), including periods before the Effective Date of this Plan. The Board has determined that employment in a position on the Company’s
Executive Committee will be credited as Benefit Service, including periods before
the adoption of the Plan. 

3.5      Vesting
Service

Vesting
      Service will include a Participant’s aggregate periods of employment
      with an Employer whether or not in a position that the Board has designated
      as covered under the Plan (determined in periods of whole months), including
periods before the Effective Date of this Plan.

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ARTICLE
      4.   AMOUNT
OF BENEFITS

  4.1      Accrued
  Benefit 

  (a)      In
  General. A Participant’s Accrued Benefit
  under the Plan is the monthly benefit under the Benefit Formula to which a
  Participant would be entitled at his Normal Retirement Date, based on his Final
Average Compensation and Benefit Service as of the date of determination. 

  (b)      Benefit
  Formula. The Plan’s formula used to
  determine a Participant’s Accrued Benefit is 50% of Final Average Compensation, multiplied by a fraction. The numerator of the fraction is the lesser of the Participant’s
Benefit Service or 15 years, and the denominator is 15. 

  (c)      Offset
  for Special Contractual Benefits. A Participant’s Accrued Benefit will be offset by the Actuarial Equivalent value of any special contractual benefits provided by an Employer. The Committee will determine any special contractual benefits that should offset Accrued Benefits under
  the Plan. The Actuarial Equivalent value of any offset will be determined in whatever reasonable manner the Plan’s
actuary determines to be appropriate and such determination will be binding. 

(d)      Continued Employment After Normal Retirement Age. A Participant who continues to work past his
    Normal Retirement Age will have his Accrued Benefit determined based on his Final Average Compensation and Benefit Service at his Late Retirement Date. There will be no actuarial adjustment to reflect payment postponed beyond Normal Retirement Age.

  (e)      Change
  in Control. Upon a Participant’s
  termination of employment in connection with a Change in Control, the following special provisions apply, consistent with the Company’s
standard change in control agreement: 

(1)     The participant will
      be credited with 3 additional years of Benefit Service.
      

(2)     Final Average Compensation
will be calculated on Compensation received in the past twelve months, if greater than the definition of Final Average Compensation under Section 2.1(o) .

4.2      Rehired
Individuals

(a)       In
General. If a Former Participant once again becomes a Participant in accordance
with the provisions of Section 3.3, then such Participant’s Accrued Benefit
will reflect changes in Benefit Service and Final Average Compensation as further
specified in Sections 2.1(o) and 3.4. 

(b)      No Benefit Payments During Reemployment. As
specified in Section 5.10, if a rehired individual had begun receiving payments under Article 5, such payments will be suspended immediately upon his reemployment in a position that the Board has designated as covered under the Plan. 

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  (c)      Adjustment
  For Benefit Payments. If a rehired individual had begun receiving payment under
  Article 5, then such Participant’s Accrued Benefit will be adjusted to reflect the Actuarial Equivalent value of these payments. The Actuarial Equivalent amount of this adjustment will be determined
  in whatever manner the Plan’s actuary determines to be reasonable and
such determination will be binding. 

4.3      Effect
of Domestic Relations Order

Where
      a Participant’s Accrued Benefit is subject to a domestic relations
      order described in Section 9.8, the Accrued Benefit otherwise payable to
      such Participant (or his Beneficiary) will be reduced by the Actuarial
Equivalent of any amounts paid or payable pursuant to such order. 

 4.4      Vesting

(a)      In General. Subject to the forfeiture provisions of Section 4.5, each Participant will be fully vested in his Accrued Benefit upon the completion five (5) years of Vesting Service. Prior to the completion of five (5) years of Vesting Service, a Participant will not have any vested interest in his
Accrued Benefit. 

(b)      Full
Vesting Due to Special Events. Notwithstanding
the foregoing, a Participant’s Accrued Benefit will be fully vested if any
of the following events occur while the Participant is employed by an Employer: 

(1)     the
Participant dies; 

(2)     the
Participant is determined to have a Disability; 

(3)      there
  is a Change in Control; or

(4)      The
Participant’s employment is terminated without Cause. 

4.5      Forfeiture

Notwithstanding any other provision of this Plan to the contrary, each Participant will forfeit his entire Accrued Benefit under the following circumstances:

  (a)      Termination for Cause. Cause will be
  determined by the Committee in its sole discretion using the definition set forth in Section 2.1(f) . 

(b)      Duty
of Loyalty. Each Participant has an ongoing responsibility to fulfill the following
duties of loyalty: giving the Company reasonable notice of retirement intent
and facilitating transition of responsibilities; providing reasonable assistance
to the Company during
retirement; and not acting contrary to the Company’s best interests (including adherence to the Company’s non-compete restrictions). Adherence to the Plan’s
Duty of Loyalty condition will be determined by the Committee in its sole
discretion. 

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ARTICLE 5.   PAYMENT OF BENEFITS; DISABILITY AND DEATH BENEFITS 

  5.1      Automatic Form of Benefit Payment
  

Unless a Participant or Former Participant elects the optional form of payment set forth in Section 5.2 in the manner and at the time prescribed in Section 5.5, the
automatic form of benefit payment under the Plan will be a single life annuity payable for the life of the Participant. 

5.2      Optional
Forms of Payment

 (a)      In
    General. A Participant or Former Participant may elect in accordance with
    Section 5.5 to receive his Accrued Benefit in the form of a Contingent 50%
    Annuitant Option or a Contingent 100% Annuitant Option, either of which will
    be the Actuarial Equivalent of the automatic form of payment provided in
  Section 5.1. 

 (b)      Definition
    of Contingent 50% Annuitant Option. An annuity payable as of the first day
    of each month to the Participant or Former Participant, for life, with a
    continuing annuity to the Beneficiary if the Beneficiary survives the Participant
    or Former Participant, in an amount which is 50 percent of the monthly annuity
    payable to the Participant or Former Participant, beginning with the first
    day of the month following the Participant’s or Former Participant’s
    death and continuing for the Beneficiary’s
lifetime. 

 (c)      Definition
    of Contingent 100% Annuitant Option. An annuity payable as of the first day
    of each month to the Participant or Former Participant, for life, with a
    continuing annuity to the Beneficiary if the Beneficiary survives the Participant
    or Former Participant, in an amount which is 100 percent of the monthly annuity
    payable to the Participant or Former Participant, beginning with the first
    day of the month following the Participant’s or Former Participant’s
    death and continuing for the Beneficiary’s
lifetime. 

5.3      Automatic
Time of Benefit
Payment

Unless
      a Participant or Former Participant elects an optional time of benefit
      payment as set forth in Section 5.4 in the manner and at the time prescribed
      in Section 5.5, the automatic time of benefit payment under the Plan will
      be the Participant’s Normal Retirement Date or the first day of the month following the Participant’s
      actual termination of employment, if later. Notwithstanding the foregoing,
      if a Participant or Former Participant is a Specified Employee, payment
      will not be made before the date that is six months after the date such
Participant or Former Participant terminates employment. 

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5.4     Optional
        Time of Benefit
Payment

(a)     In
      General. A Participant who terminates employment before Normal Retirement
      Age may elect in accordance with Section 5.5 to receive payments as of
      the first day of any month on and after the later of his Early Retirement
      Date or his actual termination of employment. 

(b)     Reduction
      For Early Commencement. The Accrued
Benefit will be reduced 1⁄4 of 1% for each month by which the payment precedes
his Normal Retirement Date. 

(c)     Notwithstanding
      the foregoing, if a Participant or Former Participant is a Specified Employee,
      payment will not be made before the date that is six months after the date
      such Participant or Former Participant terminates employment. 

5.5     Manner
  and Time of Elections

The
      election of an optional form or time of benefit payment will be made on
      such forms and in such manner as the Company prescribes. A Participant’s initial
election under this Section 5.5 must be made within 30 days of the Participant’s
initial eligibility under the Plan and, if no such election is made, the Participant
will be deemed to have made an election to receive his Accrued Benefit pursuant
to the automatic form and time for benefit payment. Any subsequent changes to
this initial election (or deemed election) must be made pursuant to the restrictions
of Code Section 409A and the regulations thereunder, at such time and in such
manner as the Committee prescribes. 

 5.6   Disability
          Benefit

If
      a Participant’s employment is terminated due to Disability, his Accrued
      Benefit will be payable commencing with the month in which the Participant
      would have attained his earliest retirement age (reduced under Section
      5.4 to reflect early commencement) and in the form elected by the Participant
(reduced under Section 5.2 to reflect any optional form of payment). 

 5.7   Death
          Benefits

(a)     In
      the case of a Participant or Former Participant who dies before benefit
      payments
have begun, a death benefit will be paid to the Participant’s or Former
Participant’s
Beneficiary, under the following provisions: 

  (1)     If
      the Participant’s death occurs after the Participant’s Early
      Retirement Date, a death benefit will be payable to the Participant’s
      Beneficiary commencing with the month following the month of the Participant’s
      death and continuing for the then remaining lifetime of the Beneficiary
      in an amount equal to 100% of the amount that would have been payable to
      the Participant if benefit payments had commenced as of the first day of
      the month following the Participant’s death (reduced under Section
      5.4 to reflect early commencement) in the form of a Contingent 100% Annuitant
  Option (reduced under Section 5.2 to reflect the optional form of payment). 

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(2)     If
    the
Participant’s death occurs on or before the Participant’s Early Retirement
Date, the death benefit will be payable to the Participant’s Beneficiary
commencing with the month the Participant would have attained his Early Retirement
Date had the Participant survived, and continuing for the then remaining lifetime
of the Beneficiary in an amount equal to 100% of the amount that would have been
payable to the Participant if he had terminated employment on the date of his
death (or termination date, if earlier), survived to his Early Retirement Date,
retired and had benefit payments commence (reduced under Section 5.4 to reflect
early commencement) in the form of a Contingent 100% Annuitant Option (reduced
under Section 5.2 to reflect the optional form of payment) and died on the day
after the date the Participant attained his Early Retirement Date. 

(b)     In
    the case of a Participant who dies after benefit payments have begun, any
    death benefits will be paid only in the event the Participant elected a Contingent
    50% Annuitant Option or a Contingent 100% Annuitant Option, and only if the
  Participant’s Beneficiary survives the Participant.

(c)     In
      no other case will any amount be paid to a Participant’s or Former
      Participant’s Beneficiary. 

 5.8   Beneficiary
          Designation 

A Participant or Former Participant may designate a person or other entity as the Beneficiary to receive any death benefit payable under the Plan. Each Beneficiary
designation will be in the form prescribed by the Company, will be effective only when properly filed in writing with the Company before the earlier of the Participant’s or Former Participant’s death or the time payment commences, and will
revoke all prior designations by the Participant or Former Participant. A Participant or Former Participant may not change his Beneficiary designation once payment has commenced under the Plan. 

5.9   Erroneous
          Payments

In the event that a Participant or a Beneficiary receives a distribution under this Plan in excess of the amount, if any, to which he or she is entitled, by reason
of a calculation error or otherwise, the Company may, in its sole discretion, adjust future benefit payments to the Participant or the Beneficiary to the extent necessary to recoup the amount which the Participant or the Beneficiary received which
was in excess of the amount to which he or she was entitled under the terms of the Plan. If the Company determines, in its sole discretion, that it is not feasible or desirable to adjust future benefit payments to a Participant or a Beneficiary, the
Company may require the Participant or the Beneficiary to repay to the Plan the amount which is in excess of the amount to which the Participant or the Beneficiary is entitled under the terms of the Plan. All amounts received by a Participant or a
Beneficiary under the Plan will be deemed to be paid subject to this condition. 

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5.10   Rehire

In
      the event that an individual who is currently receiving payments under
      the Plan is rehired by an Employer in a position that the Board has designated
      as covered under the Plan, then any payments being made under this Article
      5 will be suspended immediately. Payment will recommence according to this
      Article 5 upon the Participant’s subsequent termination of employment,
      adjusted as provided in Section
4.2. 

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ARTICLE 6.   SOURCE
OF PAYMENTS 

 6.1   Company
          Obligations and Source of Payments 

All benefits payable under the Plan will be paid as they become due and payable by the Company out of its general assets. Nothing contained in this Plan will be
deemed to create a trust of any kind for Participants, Former Participants or their Beneficiaries or create a fiduciary relationship between the Company and the Participants, Former Participants or their Beneficiaries. To the extent that any person
acquires a right to receive benefits under the Plan, such rights will be no greater than the right of any unsecured general creditors of the Company. 

6.2   “Rabbi” Trust

Notwithstanding
      Section 6.1, to fund the benefits provided under the Plan, the Company
      may, in its sole discretion, execute a Trust Agreement with a Trustee or
      Trustees, or enter into one or more contracts with an insurance company
      or companies, or adopt a combination of both methods of funding. The Company
      will determine the form and terms of any such Trust Agreement or insurance
      contract, and may, in its
sole discretion, modify such instruments from time to time or remove or replace
      any Trustee or insurance company. Any such Trust so established will be
      a “rabbi” grantor trust under Sections 671 through 679 of the
Code. 

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ARTICLE
7.   ADMINISTRATION

7.1   Committee

(a)     General.
      The Committee, subject to those powers which the Board has reserved as
      described in Article 8 below, will have general authority over, and responsibility
      for, the administration and interpretation of the Plan. The Committee will
      have full power, authority and discretion to interpret and construe the
      Plan, to make all determinations considered necessary or advisable for
      the administration of the Plan and the Trust, if any, the calculation of
      the amount of benefits payable under the Plan, and to review claims for
      benefits
under the
Plan. The Committee’s interpretations and constructions of the Plan and
its decisions or actions thereunder will be binding and conclusive on all persons
for all purposes. 

(b)     Composition.
      The Committee will consist of at least three individuals, each of whom
      will be appointed by the Board. Any Committee member may resign by delivering
      his or her written resignation to the Committee no later than 15 days before
      the effective date of the resignation. The Board may remove any member
      of the Committee at any time and for any reason with or without advance
      written notice. Vacancies in the Committee arising by resignation, death,
      removal or otherwise will be filled by the Board. 

(c)     Committee
      Procedures. The Committee will elect or designate one of its own members
      as Chair, establish its own procedures and the time and place for its meetings
      and provide for the keeping of minutes of all meetings. A majority of the
      members of the Committee will constitute a quorum for the transaction of
      business by the Committee. Any action of the Committee may be taken upon
      the affirmative vote of a majority of the members at a meeting or, at the
      direction of its Chair, without a meeting by mail or telephone, provided
      that all of the Committee members are informed in writing of the matter
      to be voted upon. The Committee may establish procedures pursuant to which
      a Committee member may elect not to participate in a Committee proceeding
      in which such member has an interest. No Committee member will be entitled
      to act on or decide any matters relating solely to such Committee member
      as a Participant or any of his or her rights or benefits under the Plan. 

(d)     Expenses.
      All expenses incurred by the Committee in its administration of the Plan
      will be paid by the Company. The Committee members will not receive any
      special compensation for serving in such capacity but will be reimbursed
      for any reasonable expenses actually incurred in connection therewith.
      No bond or other security is required of the Committee or any member thereof
      in any jurisdiction. 

(e)     Liability;
      Indemnification. No Committee member will be personally liable by reason
      of any instrument executed by such Committee member, or action taken by
      the member in his or her capacity as a Committee member, acting in good
      faith and exercising reasonable care, nor for any mistake of judgment made
      in good faith. Committee members may be entitled to indemnification for
      certain costs, expenses and liabilities to the fullest extent permitted
      by applicable law and regulations and the charter and bylaws of the Company,
      and
subject to the terms and conditions set forth in such bylaws. 

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   7.2     Procedures
          for Requesting Benefit Payments; Claims Procedures 

To obtain Plan benefits, a Participant, Former Participant or Beneficiary must file a written application with the Company. Procedures for filing a claim in the
event that Plan benefits are denied in whole or in part are as follows. 

(a)     Benefits
Claims. A Participant, Former Participant or Beneficiary may file a claim with
respect to amounts asserted to be due hereunder by filing a written claim with
the Committee specifying the nature of such claim in detail. The Committee will
notify the claimant within sixty (60) days as to
whether the claim is allowed or denied, unless the claimant receives written
notice from the Committee stating that special circumstances require an extension
of time for a decision on the claim, in which case the period will be extended
by an
additional sixty (60) days. Notice of the Committee’s decision will be in writing, sent by mail to the claimant’s last known address and, if the claim is denied, such notice will state the reasons for the denial, refer to the Plan
provisions on which the denial is based, describe any additional material or information necessary for the claimant to perfect the claim, and explain the Plan’s
claim review procedure. 

(b)     Review Procedure. A claimant is entitled to request
a review of any denial of his claim under paragraph (a) above. The request for
review must be submitted to the Committee in writing within sixty (60) days of
receipt of the notice of denial. Absent a request for review within this sixty
(60) day  period, the claim will be extinguished in its entirety. The claimant
will be entitled to submit issues and comments in writing, as well as other written
documents, to the Committee. The claimant will also be entitled to receive from
the Committee,
upon request, reasonable access to and copies of all documents, records and other
information relating to his claim. The review will be conducted by the Committee,
which will render a decision in writing within sixty (60) days of a request for
a  review, provided that, if the Committee determines that special circumstances
require an extension of time, this period will be extended by an additional sixty
(60) days. The review will take account of all comments, documents, records and
other
information submitted by the claimant relating to the claim, without regard to
whether such information was submitted or considered in the initial benefit determination
under paragraph (a) above. The claimant will receive written notice of the Committee’s
review decision, together with specific reasons for the decision and reference
to the
pertinent provisions of the Plan.

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 ARTICLE 8. AMENDMENT
      AND TERMINATION 

   8.1     Amendment
          of the Plan 

The Company reserves the right to amend the Plan at any time and in any respect whatsoever by action of its Board or by such other means as may be prescribed by the
Board. Retroactive Plan amendments may not decrease the Accrued Benefit of any Participant or Former Participant determined as of the time the amendment is adopted, unless the Participant or Former Participant consents in writing. 

 8.2     Termination
          of the
Plan

While it is the intent of the Company to maintain the Plan indefinitely, it reserves the right to terminate the Plan in whole or part by action of the Board (or by
such other means as may be prescribed by the Board) at any time. 

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ARTICLE 9. MISCELLANEOUS PROVISIONS

 9.1     Employment
Rights

Nothing contained in this Plan or any modification of the Plan or act done in pursuance of this Plan will be construed as giving any Participant or Former
Participant any legal or equitable right with respect to his or her employment against an Employer (or any director, officer or employee thereof), unless specifically provided in this Plan or under applicable law, or as giving any person a right to
be retained in the employ of an Employer. All employees will remain subject to assignment, reassignment, promotion, transfer, layoff, reduction, suspension, and discharge to the same extent as if this Plan had never been established. 

 9.2     No
          Examination or
Accounting

Neither this Plan nor any action taken under it will be construed as giving any person the right to an accounting or to examine the books or affairs of the Company,
an Employer, the Plan, or the Committee, except to the extent required by law. 

 9.3     Records
Conclusive

The records of the Company, an Employer and the Committee will be conclusive in respect to all matters involved in the administration of the Plan to the extent
permitted by applicable law. 

 9.4     Severability

In the event any provision of this Plan will be held illegal or invalid for any reason, such illegality or invalidity will not affect the remaining parts of this
Plan, and it will be construed and enforced as if such illegal or invalid provision had never been included. 

 9.5     Counterparts

This Plan may be executed in any number of counterparts, each of which will be deemed to be an original. All the counter parts will constitute but one and the same
instrument and may be sufficiently evidenced by any one counterpart. 

 9.6     Taxes

The Company and the Employers will withhold, or cause to be withheld, from all benefits payable under the Plan all federal, state, local or other taxes required by
applicable law be withheld with respect to such payment. 

  
    9.7     Binding
          Effect

  

  
    The Plan will be binding
        upon and inure to the benefit of the Company and its successors and assigns
        and the Participants, Former Participants, their Beneficiaries and estates.
        The Plan will also be binding upon and inure to the benefit of any successor
        organization succeeding to substantially all 

  

   

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 of the assets and business of the Company, but nothing in the Plan will preclude the Company from merging or
consolidating into or with, or transferring all or substantially all of its assets to, another organization which assumes the Plan and all obligations of the Company thereunder. 

In
      any agreement or plan which the Company may enter into to effect any merger,
      consolidation, reorganization, or transfer of assets, the Company agrees
      that it
will make appropriate provision for the preservation of the Participants’ and Former Participants’ benefits accrued under the Plan prior to such merger, consolidation, reorganization or transfer of assets. Upon such a merger,
consolidation, reorganization, or transfer of assets and assumption of the Plan obligations of the Company, the term “Company” will
refer to such other organization and the Plan will continue in full force and
effect. 

 9.8     Assignment

No Participant or Former Participant or Beneficiary will have the right to assign, transfer, hypothecate, encumber or anticipate his or her benefits under the Plan,
nor will the benefits under this Plan be subject to any legal process to levy upon or attach the benefits for payment of any claim against the Participant or Former Participant or his or her Beneficiary. In the event of any attempted assignment or
transfer, the Company will have no further liability hereunder. The foregoing notwithstanding, in accordance with procedures that are established by the Committee (including procedures requiring prompt notification to the affected Participant or
Former Participant and each alternate payee of the receipt by the Plan or the Company of a domestic relations order and its procedures for determining the qualified status of such order), a judicial order for purposes of or pertaining to domestic
relations (which orders do not alter the amount, timing, or form of benefit other than to have it commence at the earliest permissible date) will be honored by the Plan and the Company if the Committee or its designee determines that such order
would constitute a qualified domestic relations order (within the meaning of Section 414(p) of the Code) if the Plan were a qualified retirement plan under Section 401(a) of the Code. 

  
    9.9     Incapacity

  

  
    If the Committee is
        presented with credible evidence that any person to whom any amount is
        or was payable under the Plan is unable to care for his or her affairs
        because of illness or accident, or is a minor, or has died, then any
        payment, or any part thereof, due to such person or his or her estate
        (unless a prior claim therefor has been made by a duly appointed legal
        representative), may, if the Committee is so inclined, be paid to such
        person’s spouse, child, or other relative, an institution maintaining
        or having custody of such person, or any other person deemed by the Committee
        to be a proper recipient on behalf of such person otherwise entitled
        to payment. In making such a finding the Committee may rely on the advice
        of experts chosen by the Committee in its sole discretion. Any 

  

   

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 payment consequent
on such finding will be in complete discharge of the liability of the Plan and
the
Company therefor. 

 9.10     Unsecured
          Creditor

To the extent that any person acquires a right to receive payments from the Company under the Plan, such right will be no greater than the right of an unsecured
general creditor of the Company.

 9.11     Notice

Any election, application, claim, designation, request, notice, instruction or other communication required or permitted to be made by a Participant, Former
Participant, Beneficiary, or other person to the Committee will be made in writing and in such form as is prescribed from time to time by the Committee and will be mailed by first-class mail, postage pre-paid or delivered to such location as will be
specified by the Committee and will be deemed to have been given and delivered only upon receipt thereof at such location. 

 9.12     Benefits
          Not Salary

The benefits payable under the Plan will be independent of, and in addition to, any other benefits provided by the Company and will not be deemed salary or other
remuneration by the Company for the purpose of computing benefits to which any Participant or Former Participant may be entitled under any other plan or arrangement of the Company. 

 9.13     Captions

The captions preceding the sections of the Plan have been inserted solely as a matter of convenience and will not in any manner define or limit the scope or intent
of any provisions of the Plan. 

  
    9.14      Governing
          Law

  

  
    The Plan
        is intended to constitute an unfunded Plan for a select group of employees
        and rights thereunder will be construed according to the laws of the
        State of Delaware, without giving effect to the choice of law principles
        thereof, and the laws of the United States, as applicable.

  

  
    9.15      Addresses

  

  
    Each Participant
        or Former Participant must file with the Company from time to time in
        writing his or her post office address and each change of post office
        address. The communication, statement or notice addressed to a Participant
        or Former Participant at the last post office address filed with the
        Company, or if no address is filed with the Company, then at the last
        post office address as shown on the records of the Company, will be binding
        on the Participant or Former 

  

   

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Participant and his or her Beneficiaries for all purposes of the Plan. The Company will not be required to search for or locate a Participant, Former Participant or his or her
Beneficiary.

IN WITNESS WHEREOF, Applera Corporation has caused this document to be executed by its duly authorized officers, this __30th__ day of December, 2005.

	 	APPLERA
    CORPORATION
	 	 
	 	By: /s/
    Barbara J. Kerr                         
	 	Title:
    V.P. Human Resources             

20

 APPENDIX A

INDIVIDUALS ELIGIBLE FOR PARTICIPATION

The Management Resources Committee of the Board approved the adoption of the Plan solely for the benefit of the group of individuals listed below. No other
individuals will be eligible to participate in the Plan without written approval of Board.

No individual has a right to continue to participate in the Plan in the future without the approval of the Board. Each individual will continue to participate in
the Plan at the discretion of the Board.

As
      of December 31, 2005, the following individuals are eligible to participate
      in the Plan:

 Catherine
      M. Burzik

Barbara
      J. Kerr

Kathy
      Ordoñez

William
      B. Sawch

Dennis
      L. Winger

21

Applera
Corporation Supplemental Executive Retirement Plan

Beneficiary Form

Instructions

  Complete this form to designate your beneficiary for any death benefits that
  may be payable under the Applera Corporation Supplemental Executive Retirement
  Plan (the “SERP”). Make a copy of this form, and return the original
  to the Applera Corporation
Human Resources Department.

  After you have designated your SERP Beneficiary, you may change your Beneficiary
  designation at any time, up to 30 days before SERP benefit payments are scheduled
  to begin. You may not make any changes within 30 days of the date SERP benefit
payments are scheduled to begin or any time thereafter.

  Generally, any Beneficiary designation will be effective as of the date it
  is received by the Applera Corporation Human Resources Department. Your Beneficiary
  Designation will not be valid if it is received: (1) after the date of your
  death; (2) within 30 days of the date SERP benefit payments are scheduled to
begin; or (3) after SERP benefit payments have begun.

	
Participant
Information	 	 

		 

		 

		 

		 

	
	 	 
	
Name:_____________________________________________________________________________________________________
	 	 	 	 	 	 	 
	
Work phone #:_______________________________________________________	
Home phone #:________________________
	 	 	 	 	 	 	 
	
Marital Status:	
[__]	
Single	
[__]	
Married	
[__]	
Divorced
	(check
    one)	 	 	 	 	 	 

Your
Beneficiary Designation

Your SERP Beneficiary is the individual you designate to receive any death benefits that may be payable under the SERP. You may not name an entity other than a person to be your SERP
Beneficiary (such as your estate, a charity, an institution, or a trust) and you may not name more than one primary beneficiary.

	In general,
    death benefits are payable from the SERP in the following circumstances:
	•	You
          die after you have earned a vested interest in your SERP benefit, but
          before you have started receiving
    your SERP benefit payments.
	•	 You
          die after you have started receiving SERP benefit payments, you elected
          a payment form that provides
          a survivor
benefit, and your beneficiary survives you.
	 	 

	Name
    of Beneficiary:_______________________________________________________________________________________________________________________
	 	 
	        Relationship
          to you: _____________________________________________________

    	 SSN:______________________________________________________
	 	 
	Address:_______________________________________________________________________________________________________________________________
	 	 
	 Work
          phone #:_________________________________________________________

    	 Home
    phone #:______________________________________________
	 	 

If you are
    married and your spouse is not your beneficiary, this Beneficiary Designation
Form is invalid without the consent of your spouse.

Spousal
Consent

State community property law and the SERP plan rules require that a married participant name his or her spouse as the SERP beneficiary, unless the spouse consents in writing below to
another beneficiary designation and this consent is witnessed by a Notary Public. 

I hereby consent to the beneficiary designation on this form and acknowledge that (1) I am entitled to this benefit; (2) the effect of such designation is to cause my spouse’s death
benefit to be paid to a beneficiary other than me; (3) no beneficiary designation is valid unless I consent to it; and (4) my consent is irrevocable. My consent is being given voluntarily and no undue influence or coercion has been exercised in
connection with my decision to consent.

	Spouse’s
    Signature:                                                                                                           	 	Date:                                       
	 	 	 
	Signed
        in the
presence of:         	 	Notary
    Seal
	 	 	 
	     
	                 
	                 
	                 
	                 
	                 
	                 
	             
	             	 	Date:                                       
	Notary
    Public Signature	 	 
	 	 	 
	My commission
        expires
on:                                                                	 	 
	 	 	 
	 	 	 
	Participant
    Signature	 	 
	 	 	 
	 I
        reserve the right
to revoke or change any beneficiary designation. I
hereby revoke all my previous beneficiary designations
(if any).
	 	 	 
	                                                                                                                         
	                
	          	 	 
	 Participant’s
    Signature	 	Date:Exhibit 10.1

    
      

    

    Exhibit
      10.1

    

    ASSET
      PURCHASE AGREEMENT

    

    ASSET
      PURCHASE AGREEMENT dated February 6, 2006, between Impart Media Group, Inc.
      (formerly known as Limelight Media Group, Inc.), a Nevada corporation, with
      offices at 1300 North Northlake Way, Seattle, Washington 98103 (“Buyer”), and
      Marlin Capital Partners II, LLC, a Florida limited liability company, with
      offices at 2900 Gateway Drive, Pompano Beach, Florida 33069
      (“Seller”).

    

    Background

    

    Pursuant
      to a certain December 2, 2002 Request for Proposal, including a Letter of
      Acceptance dated April 15, 2003, by and between the Port Authority of New York
      and New Jersey (the “Port Authority”) and Black Experience, Inc., as amended by
      a First Addendum dated March 2, 2004, and subsequently assigned to Seller (the
      “PATH Contract”), Seller owns the exclusive right to provide advertising
      services on the Port Authority’s PATHVISION Broadcasting System (the
“Business”). Seller conducts the Business under the name “InTransit Media” and
      owns and uses in the Business the other assets listed on Schedule
      A-1
      annexed
      hereto (collectively, with the PATH Contract, the “Assets”). Buyer and Seller
      were previously parties to an Agreement, dated June 8, 2005, relating to the
      sale of the Assets (the “Original Agreement”), which the parties acknowledge to
      be null and void and of no force and effect. Seller desires to sell the Assets
      to Buyer and Buyer desires to purchase the Assets from Seller on the terms
      and
      conditions set forth below. 

    

    Therefore,
      for good and valuable consideration, the receipt and sufficiency of which are
      hereby acknowledged, the parties agree as follows:

    

    1.    Purchase
      and Sale. 

    

    (a)    In
      consideration of Buyer’s payment of the Purchase Price, as provided below, on
      the Closing Date (as hereinafter defined), Seller shall sell, assign, transfer
      and deliver the Assets to Buyer. Anything in the foregoing to the contrary
      notwithstanding, the Assets do not include those assets of Seller listed on
      Schedule A-2 hereto (the “Excluded Assets”). The Purchase Price shall consist of
      $500,000 and the number of Buyer Shares (as hereinafter defined) calculated
      as
      provided below and shall be paid by Buyer to Seller on the Closing Date as
      follows: (i) Four Hundred Thousand Dollars ($400,000) by wire transfer of
      immediately available funds to an account of Seller designated by it at least
      two (2) days prior to the Closing Date; and (ii) by delivery to Seller of a
      number of duly authorized, validly issued, fully paid and non-assessable,
      unregistered shares (the “Buyer Shares”) of Buyer’s common stock, $.001 par
      value per share (the “Common Stock”), determined by dividing $266,666 by the
      average closing price of the Common Stock at the conclusion of twenty (20)
      consecutive trading days ending on January 31, 2006. Buyer shall also receive
      a
      $100,000 credit for the Option Price previously paid by it to
      Seller.

    
      
         

      

      
        
        

        
          

        

      

      
        
        

      

    

    (b)    The
      current expiration date of the PATH Contract is December 31, 2007. Under the
      terms of the PATH Contract, the Port Authority has the option (the “PATH
      Option”) to extend from time to time the term thereof in increments of one or
      more years for up to a total of four years. Buyer acknowledges that Seller
      has
      made no representation to it with regard to the Port Authority’s intention to
      exercise the PATH Option for any period or at all. If and when the Port
      Authority exercises the PATH Option, the following provisions shall be
      applicable:

    

    (i) 
          For
      each
      year by which the term of the PATH Contract is extended (but not to exceed
      four
      (4) years in total), Seller shall be entitled to receive as additional Purchase
      Price that number of additional Buyer Shares as is determined by dividing
      $333,333 by the average closing price of the Common Stock at the conclusion
      of
      twenty (20) consecutive trading days ending on the trading day most recently
      preceding the last day of the term of the PATH Contract prior to extension.
      Such
      Buyer Shares shall be issued and delivered to Seller within five (5) business
      days after such last day.

    

    (ii) 
         In
      the
      event of a stock dividend, stock split, combination of shares or other similar
      transaction effected in any period during which the average closing price of
      the
      Common Stock is to be determined, the closing prices of the Common Stock shall
      be appropriately and equitably adjusted in calculating any such
      average.

    

    (iii)    In
      the
      event that the term of the PATH Contract is extended otherwise than through
      the
      exercise of the PATH Option, Seller shall nevertheless be entitled to receive
      the additional Purchase Price provided herein, subject to the terms and
      conditions hereof.

    

    (c)    In
      connection with the sale of the Assets to Buyer, Seller shall execute and
      deliver to Buyer on the Closing Date the bill of sale and the assignments of
      contracts and domain name(s) attached hereto as Exhibits 1, 2 and 3,
      respectively.

    

    2.    Liabilities.
      Buyer
      shall assume only those obligations and liabilities set forth on Schedule B
      hereto (the “Assumed Liabilities”). Except for the Assumed Liabilities, Buyer is
      not assuming any existing, contingent or future liability of Seller (the
“Excluded Liabilities”). Without limitations, the Excluded Liabilities
      include:

    

    (i)     
      any
      liability for taxes of Seller;

    

    (ii)    
any
      obligations of Seller in respect of the assets of Seller not included in the
      Assets acquired hereunder; 

    

    (iii)    any
      liability of Seller pursuant to any employee benefit plan;

     

    
      (iv)    any
        liabilities or obligations of Seller for borrowed money or interest on borrowed
        money;

      

      (v)    
any
        liabilities or obligations of Seller to affiliates of Seller;

    

     

    
      
         

      

      
        
        

        
          

        

      

      
        
        

      

    

    (vi)    all
      claims, liabilities, or obligations of Seller as an employer, including, without
      limitation, liabilities for wages, supplemental unemployment benefits, vacation
      benefits, severance benefits, retirement benefits, Federal Consolidated Omnibus
      Budget Reconciliation Act of 1985 benefits, Federal Family and Medical Leave
      Act
      of 1993 benefits, Federal Workers Adjustment and Retraining Notification Act
      obligations and liabilities, or any other employee benefits, withholding tax
      liabilities, workers’ compensation, or unemployment compensation benefits or
      premiums, hospitalization or medical claims, occupational disease or disability
      claims, or other claims attributable in whole or in part to employment or
      termination by Seller or arising out of any labor matter involving Seller as
      an
      employer, and any claims, liabilities and obligations arising from or relating
      to any employee benefit plans;

    

    (vii)   all
      claims, liabilities, losses, damages, or expenses relating to any litigation,
      proceeding, or investigation of any nature arising out of the Business or
      ownership of the Assets on or prior to the Closing Date including, without
      limitation, any claims against or any liabilities for injury to, or death of,
      persons or damage to or destruction of property, any workers’ compensation
      claims, and any warranty claims;

    

    (viii)   
        except
      for the Assumed Liabilities, any accounts payable, other indebtedness,
      obligations or accrued liabilities of Seller; 

    

    (ix)     all
      claims, liabilities, or obligations of Seller arising or to be performed prior
      to the Closing Date under the PATH Contract; and 

    

    (x)     
      any
      contracts, agreements, leases, licenses or other commitments of Seller not
      expressly assumed hereunder by Buyer.

    

    3.    Representations
      and Warranties of Seller.
      Seller
      hereby represents and warrants to Buyer as follows:

    

    (a)    As
      of the
      Closing, Seller is a limited liability company duly organized and validly
      existing under the laws of the State of Florida; Seller has full power and
      authority to execute and deliver this Agreement and all other agreements to
      be
      executed and delivered by Seller hereunder or in connection herewith (the
“Ancillary Agreements”) and to consummate the transactions hereby or thereby
      contemplated; all necessary limited liability company action has been taken
      to
      authorize Seller to enter into this Agreement and the Ancillary
      Agreements;

    

    (b)    This
      Agreement and the Ancillary Agreements have been duly executed and delivered
      by
      Seller and each such agreement constitutes the legal, valid and binding
      obligation of Seller, enforceable against it in accordance with its respective
      terms, except as enforceability may be limited by (i) bankruptcy, insolvency
      or
      other laws for the protection of debtors and (ii) laws relating to the
      availability of specific performance, injunctive relief and other equitable
      remedies;

    
      
         

      

      
        
        

        
          

        

      

      
        
        

      

    

    (c)    Neither
      the execution, delivery or performance of this Agreement, the Ancillary
      Agreements, nor the transactions contemplated hereby or thereby will violate
      Seller’s Articles of Organization or Operating Agreement or any other agreements
      or instruments, law, regulation, judgment or order by which Seller is
      bound;

    

    (d)    Seller
      has, and at the Closing Date will transfer to the Buyer, good and valid title
      to
      all the Assets, free and clear of all liens, claims or other
      encumbrances.

    

    (e)    No
      consent, authorization, approval, order, license, certificate or permit of
      or
      from, or declaration or filing with, any federal, state, local or other
      governmental authority or any court or other tribunal, and no consent or waiver
      of any party to any Material Contract (as hereinafter defined) to which Seller
      is a party is required or declaration to or filing with any governmental or
      regulatory authority, or any other third party is required to: (i) execute
      this
      Agreement or any Ancillary Agreement, (ii) consummate this Agreement or any
      Ancillary Agreement and the transactions contemplated hereby or thereby, or
      (iii) permit Seller to assign or transfer the Assets (including without
      limitation, the Material Contracts) to Buyer. 

    

    (f)    There
      are
      no actions, suits, proceedings, orders or claims pending or, to its knowledge,
      threatened against Seller, or pending or threatened by Seller against any third
      party, at law or in equity, or before or by any governmental department,
      commission, board, bureau, agency or instrumentality which relate to, or in
      any
      way affect, the Business or the Assets (including, without limitation, any
      actions, suits, proceedings or investigations with respect to the transactions
      contemplated by this Agreement or any Ancillary Agreement). Seller is not
      subject to any judgment, order or decree of any court or other governmental
      agency relating to the Business or the Assets, and Seller has received no
      written opinion or memorandum from legal counsel to the effect that it is
      exposed, from a legal standpoint, to any liability which relates to the Business
      or the Assets.

    

    (g)    The
      Seller does not use any patent, trademark, copyright, trade secrets or other
      intellectual or industrial property rights, other than non-exclusively licensed
      use of commercially available software, in the Business. 

    

    (h)    Each
      Material Contract (as listed on Schedule A-1 hereto) is valid and binding on
      and
      enforceable against Seller in accordance with its terms and, to the knowledge
      of
      Seller, each other party thereto and is in full force and effect. Seller is
      not
      in breach or default under any Material Contract. Seller does not know of,
      and
      has not received notice of, any violation or default under (nor, to the
      knowledge of Seller, does there exist any condition which with the passage
      of
      time or the giving of notice or both would result in such a violation or default
      under) any Material Contract by any other party thereto. In addition, to
      Seller’s knowledge, there are no negotiations pending or in progress to revise,
      modify, terminate or extend the PATH Contract, nor has the Port Authority
      advised Seller orally or in writing that it is terminating or considering
      terminating the PATH Contract. Prior to the date hereof, Seller has made
      available to Buyer true and complete copies of all Material Contracts.

    
      
         

      

      
        
        

        
          

        

      

      
        
        

      

    

    (i)    
Seller
      understands and acknowledges that the Buyer Shares are “restricted securities”
and have not been registered under the Securities Act of 1933, as amended (the
      “1933 Act”) or any applicable state securities law and that such shares are
      being sold pursuant to applicable exemptions from such registration
      requirements. Seller further acknowledges that it is acquiring the Buyer Shares
      as principal for its own account and not for the benefit of any other person
      and
      not with a view to or for distributing or reselling such Buyer Shares or any
      part thereof, has no present intention of distributing any of such Buyer Shares
      and has no arrangement or understanding with any other persons regarding the
      distribution of such Buyer Shares (this representation and warranty not limiting
      Seller’s right to sell the Buyer Shares in compliance with applicable,
      registration, qualification or pursuant to applicable exemptions available
      under
      federal and state securities laws). Seller is an accredited investor as such
      term defined under Rule 501(a) of Regulation D of the 1933 Act and acknowledges
      that it has been furnished with or afforded access to, and has had the
      opportunity to ask questions and receive answers concerning, all information
      pertaining to the Buyer Shares. Seller acknowledges that all certificates
      evidencing ownership of the Buyer Shares will contain appropriate legends
      incorporating any applicable securities laws restrictions.

    

    (j)
    Seller
      understands and acknowledges that Buyer, in reliance upon Seller’s
      representation contained herein and the provisions of Section 7 of that certain
      Addendum, dated March 2, 2004, to the PATH Contract, has agreed to execute
      this
      Agreement (and consummate the transactions contemplated herein) without an
      express condition precedent to the Closing Date that Seller shall have obtained
      the consent of the Port Authority of New York and New Jersey to the assignment
      of the PATH Contract from Seller to Buyer. Accordingly, Seller represents to
      Buyer that the Assets presently constitute, and on the Closing Date will
      constitute, all or substantially all of the assets of Seller. 

    

    4.    Representations
      and Warranties of Buyer.
      Buyer
      represents and warrants to Seller as follows:

    

    (a)    Buyer
      is
      a corporation duly organized and validly existing under the laws of the State
      of
      Nevada; Buyer has full power and authority to execute and deliver this Agreement
      and the Ancillary Agreements and to consummate the transactions hereby or
      thereby contemplated; all necessary corporate action has been taken to authorize
      Buyer to enter into this Agreement and the Ancillary Agreements;

    

    (b)    This
      Agreement and the Ancillary Agreements have been duly executed and delivered
      by
      Buyer and each such agreement constitutes the legal, valid and binding
      obligations of Buyer enforceable against it in accordance with its terms, except
      as enforceability may be limited by bankruptcy, insolvency or other laws for
      the
      protection of debtors;

    

    (c)    Neither
      the execution, delivery or performance of this Agreement, the Ancillary
      Agreements, nor the transactions contemplated hereby or thereby will violate
      Buyer’s Articles of Incorporation or by-laws or any other agreements or
      instruments, law, regulation, judgment or order by which Buyer is
      bound;

    

    (d)    No
      consent, authorization, approval, order, license, certificate or permit of
      or
      from, or declaration or filing with, any federal, state, local or other
      governmental authority or any court or other tribunal, and no consent or waiver
      of any party to any contract to which Buyer is a party is required or
      declaration to or filing with any governmental or regulatory authority, or
      any
      other third party is required to: (i) execute this Agreement or any Ancillary
      Agreement, or (ii) consummate this Agreement or any Ancillary Agreement and
      the
      transactions contemplated hereby or thereby;

    
      
         

      

      
        
        

        
          

        

      

      
        
        

      

    

    (e)    The
      Buyer
      has filed all reports required to be filed by it under the Securities Exchange
      Act of 1934, as amended (the “1934 Act”), including pursuant to Section 13(a) or
      15(d) thereof, for the two years preceding the date hereof (or such shorter
      period as Buyer was required by law to file such material) (the foregoing
      materials, including the exhibits thereto, being collectively referred to herein
      as the “SEC Reports”). As of their respective dates, the SEC Reports complied in
      all material respects with the requirements of the 1934 Act and the rules and
      regulations of the Commission promulgated thereunder, and none of the SEC
      Reports, when filed, contained any untrue statement of a material fact or
      omitted to state a material fact required to be stated therein or necessary
      in
      order to make the statements therein, in light of the circumstances under which
      they were made, not misleading. The financial statements of the Company included
      in the SEC Reports comply in all material respects with applicable accounting
      requirements and the rules and regulations of the Commission with respect
      thereto as in effect at the time of filing. Such financial statements have
      been
      prepared in accordance with generally accepted accounting principles applied
      on
      a consistent basis during the periods involved (“GAAP”), except as may be
      otherwise specified in such financial statements or the notes thereto and except
      that unaudited financial statements may not contain all footnotes required
      by
      GAAP, and fairly present in all material respects the financial position of
      the
      Company and its consolidated subsidiaries as of and for the dates thereof and
      the results of operations and cash flows for the periods then ended, subject,
      in
      the case of unaudited statements, to normal, immaterial, year-end audit
      adjustments; and 

    

    (f)
    Since
      the
      date of the latest audited financial statements included within the SEC Reports,
      except as disclosed in the SEC Reports, (i) there has been no event, occurrence
      or development that has had or that could reasonably be expected to result
      in a
      material adverse effect on Buyer, its business or operations, (ii) Buyer has
      not
      incurred any liabilities (contingent or otherwise) other than (A) trade payables
      and accrued expenses incurred in the ordinary course of business consistent
      with
      past practice and (B) liabilities that would not be required to be reflected
      in
      the Company’s financial statements pursuant to GAAP or that would not be
      required to be disclosed in filings made with the Commission, (iii) the Company
      has not altered its method of accounting, and (iv) the Company has not declared
      or made any dividend or distribution of cash, securities or other property
      to
      its stockholders. 

    

    5.    Closing.
      The
      closing of the transactions contemplated hereby shall occur at 10:00 am,
      prevailing Eastern Time, on February 3, 2006 (the “Closing Date”).

    

    6.    Accounts
      Payable It
      is the
      intention of the parties that liability for the payment of the ordinary accounts
      payable arising from the Material Contracts shall be assumed by Buyer from
      Seller (the “Assumed Payables”). At Closing, Seller shall deliver to Buyer a
      complete statement of each Assumed Payable. Buyer agrees to pay and discharge
      in
      the ordinary course all such Assumed Payables and, upon request, provide
      evidence of such payment to Seller.

    

    7.    Indemnification
      by Seller.
      Seller
      agrees to indemnify, defend and hold Buyer and its affiliates harmless from
      and
      against any and all losses, liabilities, obligations, suits, proceedings,
      demands, judgments, damages, claims, expenses and costs, including, without
      limitation, reasonable fees, expenses and disbursements of counsel
      (collectively, “Damages”), which any of them may suffer, incur or pay in
      connection with (i) any breach of a representation or warranty made by Seller,
      (ii) any liability accruing prior to the Closing Date incurred in connection
      with the Business or Assets other than those constituting Assumed Liabilities,
      (iii) the non-fulfillment by Seller of any covenant contained herein or in
      the
      Ancillary Agreements or (iv) any Excluded Liabilities.

    
      
         

      

      
        
        

        
          

        

      

      
        
        

      

    

    8.    Indemnification
      by Buyer.
      Buyer
      agrees to indemnify defend and hold Seller and its affiliates harmless from
      and
      against any and all Damages which any of them may suffer, incur or pay in
      connection with (i) any breach of a representation or warranty made by Buyer
      herein, (ii) any liability arising under or in connection with the use and/or
      ownership of the Assets arising on or after the Closing Date, (iii) the
      non-fulfillment by Buyer of any covenant contained herein or in the Ancillary
      Agreements or (iv) any Assumed Liabilities.

    

    9.    
         Publicity;
      Non-Disclosure.
      All
      notices to third parties and all other publicity concerning the transactions
      contemplated by this Agreement shall be jointly planned and coordinated by
      and
      between Buyer and Seller. Neither of the parties shall act unilaterally in
      this
      regard without the prior written approval of the other party, which approval
      shall not be unreasonably withheld. Except by mutual agreement or as may be
      required to obtain financing for the transactions contemplated by this Agreement
      or unless compelled to disclose by judicial or administrative process or by
      other requirements of law, no party shall disclose any of the terms and
      conditions of this Agreement except as may be necessary to enforce its terms,
      or
      as ordered by a court of competent jurisdiction.

    

    10. 
          Taxes
      and Other Fees.
      Seller
      shall pay any and all sales taxes or other taxes or recording fees payable
      as a
      result of the sale of the Assets hereunder. 

    

    11. 
          Limitations
      on Indemnification.
      The
      representations, warranties, indemnification, covenants and agreements of Seller
      and Buyer contained in this Agreement shall survive the execution and delivery
      hereof for a period of one year. For the purposes hereof, Damages shall be
      computed net of any insurance coverage with respect thereto that reduces the
      Damages that would otherwise be suffered. An indemnified party shall be entitled
      to indemnification hereunder with respect to a breach by the indemnifying party
      of any representation or warranty only to the extent that the amount of all
      Damages suffered by the indemnified party as a result of the breach by the
      indemnifying party of one or more representations and warranties exceeds in
      the
      aggregate $25,000 (the “Basket”), whereupon Seller shall be liable for all such
      Damages, dollar for dollar, including such $25,000 amount. In no event shall
      Buyer be entitled to indemnification hereunder with respect to one or more
      breaches by Seller of its representations or warranties in an aggregate amount
      that exceeds the Purchase Price.

    

    12.
           Registration
      Rights Agreement.
      On the
      Closing Date, Buyer and Seller shall execute and deliver the Registration Rights
      Agreement in the form of Exhibit 4 hereto relating to the Buyer
      Shares.

    

    13. 
              Trade
      Names.
      On the
      Closing Date, Seller shall file any and all certificates as necessary to cancel
      or terminate all assumed or trade name certificates in connection with Seller’s
      use of the names “Intransit” or “Intransit Media”. Not later than five days
      after the Closing Date, Seller shall provide Buyer with evidence of such
      cancellations and terminations.

    
      
         

      

      
        
        

        
          

        

      

      
        
        

      

    

    14.
           Severability.
      If any
      provision of this Agreement is determined to be invalid, illegal or incapable
      of
      being enforced by reason of any rule of law or public policy, all other
      provisions of this agreement shall remain in full force and effect.

    

    15.
           No
      Waiver.
      No
      waiver by any party of any breach or nonperformance of any provision or
      obligation of this Agreement shall be deemed to be a waiver of any preceding
      or
      succeeding breach of the same or any provision of this Agreement.

    

    16.
           Entire
      Agreement; Amendment.
      This
      Agreement and the Ancillary Agreements are the entire agreement of the parties
      with respect to the subject matter hereof, supersede all prior agreements and
      understandings, oral and/or written, relating to the subject matter hereof,
      and
      may not be amended, supplemented, or modified, except by written instrument
      executed by all parties hereto and thereto. Without limiting the foregoing,
      the
      parties hereby agree that upon execution of this Agreement, the Original
      Agreement shall be deemed void ab initio and no party shall have any rights,
      obligations or liabilities thereunder. This Agreement shall be binding upon
      and
      inure to the benefit of the parties hereto, their successors and permitted
      assigns. Where the context so requires, the singular shall include the plural
      and vice versa.

    

    17.          Execution
      in Counterparts.
      This
      Agreement may be executed in one or more counterparts, each of which shall
      constitute an original and all of which shall constitute one and the same
      document.

    

    18.          Governing
      Law; Counsel.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York, without giving effect to conflict of laws principles. The
      parties acknowledge that they have each had an opportunity to be represented
      by
      legal counsel of their choice and that they enter into this Agreement and the
      transactions contemplated hereby freely and voluntarily with full knowledge
      and
      understanding of its contents.

    

    [remainder
      of page intentionally left blank; signature page follows]

    
      
         

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Agreement as of the date first written
      above.

    

    
      	 	
              IMPART
                MEDIA GROUP, INC.

            
	 	 	 
	 	 	 
	 	
              By: 
                

            	
              /s/Joseph
                F. Martinez 

            
	 	 	
              Name:  Joseph
                F. Martinez

            
	 	 	
              Title:   
                Chairman of the Board and Chief Financial Officer

            
	 	 	 
	 	 	 
	 	 	 
	 	
              MARLIN
                CAPITAL PARTNERS II, LLC D/B/A INTRANSIT MEDIA

            
	 	 	 
	 	 	 
	 	
              By: 
                

            	
              /s/Michael
                Brauser

            
	 	 	
              Name:  Michael
                Brauser

            
	 	 	
              Title:    Manager

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