Document:

Prepared and filed by St Ives Financial

Exhibit 10.1

 

Dear Robert,

As
      you know, the Celera Genomics Group of Applera Corporation (the “Company”) has announced that it is seeking partners to maximize the value of its small
molecule activities in South San Francisco, California (the “Business”) in the most cost effective manner. These activities could result in a sale or other transaction involving the Business. In order to ensure your continued attention and
dedication to your duties to the Business during this period of uncertainty, the Company wishes to advise you with respect to certain bonuses and severance payments that may be made by the Company in the event that the Company’s activities
result in a sale or other transfer of all or substantially all of the assets of the Business to a separate entity not controlled by the Company (a “Sale”)
and your employment is impacted.

	
1.      		
    BONUS/SEVERANCE	
	 
	 	
A.      		
    Sale Bonus.
    The Company will pay you a bonus of up to 20% of your annual base salary
    upon the closing of a Sale based upon your effort to help bring about the
    Sale, provided you are employed by the Company upon the closing of the Sale.
    (The Company will consider paying a bonus if you exercise good faith efforts
    to effect a Sale and the Sale in fact occurs but your
employment terminates before the sale.) The Company’s expectation is that
you would receive 100% of such bonus if the closing of the Sale occurs and you
satisfy the conditions set forth below. The Company will make any such bonus
payment, less applicable withholdings, within fifteen (15) days of the closing
date of a Sale. 	
	 
	 	
B.      		
    Post Sale Bonus.
    The Company will pay you an additional bonus of up to 200% of your annual
    base salary, less applicable withholdings, if you remain an active employee
    through the completion of a Sale and, under the buyer, for at least 6 months
    thereafter. The Company’s expectation is that you would receive 100%
    of such bonus, provided you satisfy the conditions set forth below. The Post
    Sale Bonus would be paid within 15 days after such 6 month period. 	
	 
	 	 	
The conditions for receipt
of the bonuses are as follows: (i) you must abide by Company policies prior to
the closing of the Sale; (ii) you must act throughout the period from this letter
agreement to the closing in a manner reasonably intended to help the buyer and
the Company achieve the Sale, and consistent with the Company’s best interests,
(iii) in the case of the Post Sale Bonus, you may not terminate employment prior
to 6 months after the closing of the Sale, except as a result of your death or
long term disability.	
	 
	 	
C.      		
    Severance. This subsection C) regarding severance shall have no operation if both bonuses under subsections A)
and B) become owing to you. You will be eligible for a severance payment of 200% of your annual base salary, less applicable withholdings if any of the following events occur, provided that you have made best efforts to help bring about a Sale and
have complied with Company policies: 	
	 

	 	 	1)   The
    Company terminates your employment without cause prior to a Sale;
	 	 	 
	 	 	 2)   You
          accept employment with the buyer of the Business and your employment
          is terminated without cause by the buyer within six (6) months of the
          closing of the Sale or your
          total compensation
is decreased during such six (6) month period;
	 	 	 
	 	 	 3)   You
    are not offered employment by the buyer of the Business;
	 	 	 
	 	 	 4)   You
          are offered employment by the buyer of the Business at less than your
          current target total cash compensation level (annual base salary plus
          target bonus) at the Company or with benefits that are not reasonably
          comparable in the aggregate to your current benefits from the Company,
    and you do not accept such an offer; or
	 	 	 
	 	 	 5)   
          Buyer requests
          you to relocate to a work location more than 30 miles from the current
    work location.
	 	 	 
	 	 Any
          severance provided hereunder will be in lieu of any other severance
          entitlement you may have from the Company. Such severance would be
          paid within fifteen (15) days of when it becomes due and owing to you.
          The Company will also pay you for the cost of COBRA medical continuation
          benefits for six (6) months at your current level of coverage at the
    time of the severance payment.
	 	 	 
	 	 Any
          vested Company stock options will be exercisable in accordance with
    the Company Stock Option Plan (30 days from your termination date).

	 	 
	2.	RELEASE 

You will be asked to provide the Company a release, as a condition to any payment hereunder, in substantially the following form:

Employee
      hereby releases the Company, any related companies, and the employees and
      directors of all of them from all claims or demands Employee may have based
      on Employee’s employment with the Company or the termination of that
      employment. This includes, for example, a release of any rights or claims
      Employee may have under the Age Discrimination in Employment Act, which
      prohibits age discrimination in employment; Title VII of the Civil Rights
      Act of 1964, which prohibits discrimination in employment based on race,
      color, national origin, religion or sex; the Equal Pay Act, which prohibits
      payment to men and women of unequal pay
for equal work; any other federal, state or local laws or regulations prohibiting
      employment discrimination, whether on the basis of age, color, sex, race,
      sexual preference or orientation, marital status, national origin, mental
      or physical disability, religion, ancestry, or veteran status, or on any
      other basis prohibited by law; or any law, regulation or rule concerning
      wages or salary for hours worked. This also includes a release by Employee
      of any claims for wrongful discharge,
breach of contract or tort. This release covers both claims that Employee knows
      about and those Employee may not know about. Employee acknowledges full
      understanding of, and waiver of all rights under, Section 1542 of the California
      Civil Code, which provides as follows: a general release does not extend
      to claims, which the creditor does not know or suspect to exist in his
      favor at the time of executing the release, which if known must have materially
      affected his settlement with the
debtor. 

2

	3. 	TERM 

This letter supersedes any other agreements concerning severance, change in control, or similar agreements regarding termination of employment as long as this
letter remains in effect. This letter shall have a term of one (1) year from the date hereof and the terms hereof will apply to any Sale within such one (1) year. In the event any payment provided for hereunder becomes due and owing to you, then no
other agreement for compensation and benefits you have with the Company concerning severance, change in control, or similar agreement shall have any effect. If upon termination of this letter after one year no payment has become due to you hereunder
and you remain employed by the Company, then any preexisting severance, change in control, or similar agreement you have with the Company shall be restored and this letter agreement shall have no force or effect; provided, however the parties will
negotiate in good faith an extension of the term of this letter agreement if a Sale is being discussed with a third party at the time this letter agreement would otherwise terminate.

	4.	MISCELLANEOUS 

This letter agreement shall be governed by and construed in accordance with the laws of the State of California. If any provision herein is found to be
unenforceable or invalid, such unenforceability and invalidity shall not affect the remainder of this letter agreement. This is the entire agreement between you and the Company concerning the subject matter hereof. You agree to keep the terms of
this letter agreement strictly confidential.

Please acknowledge your agreement by signing the enclosed copy of this letter where indicated below and returning it to me. 

	 	  APPLERA
    CORPORATION 	 	 
	 	 	 	 
	 	 	 	 
	By:	/s/
    Dennis L.	Winger                         		10/13/05               
	 	Dennis
    L. Winger 	 	Date
	 	 	 	 
	 	 	 	 
	 	  AGREED
    TO:	 	 
	 	 	 	 
	 	 	 	 
	 	/s/
    Robert Booth                                   	 	10/25/05               
	 	  Robert
    Booth 	 	Date

3Prepared and filed by St Ives Financial

Exhibit 10.2

 

APPLERA CORPORATION/APPLIED
BIOSYSTEMS GROUP

AMENDED AND RESTATED 1999 STOCK INCENTIVE PLAN

FORM OF RESTRICTED
STOCK
UNIT AWARD AGREEMENT

RESTRICTED STOCK UNIT AWARD AGREEMENT dated as of [Grant Date], by and between Applera Corporation, a Delaware corporation (the “Company”), and [Name], a regular salaried employee of
the Company or one of its subsidiaries (“you”).

1.   Grant
          of Restricted Stock Units.   The
          Company hereby grants to you [Total  Number ] Restricted Stock Units
          (each a “Unit”). Upon vesting, each Unit entitles you to
          receive one share of Applied Biosystems Group
          Common Stock, par value $.01 per share (the
“Applied Biosystems Stock”), under the terms of the Applera Corporation/Applied
Biosystems Group Amended and Restated 1999 Stock Incentive Plan (the “Plan”).
Each Unit  will remain subject to forfeiture unless and until such Unit has vested
in accordance with the Plan and this Agreement, and will remain restricted as
to transferability until such Unit is settled.

2.   Vesting.   Your
      Units will vest subject to attainment of the performance
goals (the “Performance Goals”) applicable to each of the Company’s
2006, 2007, 2008, and 2009 fiscal years (the “Measurement Years”),
as established by the Management Resources Committee of the Board of Directors
of the
Company (the “Committee”). If and to the extent that those performance
goals are met, your Units will vest in the amounts set forth in Exhibit I to
this Agreement, up to a maximum of 25% of your Units with respect to each of
such  Measurement Years. Your actual date of vesting will be the date on which,
following the close of the applicable Measurement Year, the Committee determines
that the performance goals for that applicable Measurement Year have been met.
Any Units
allocated for vesting in respect of any Measurement Year that do not vest based
on the Performance Goals for that Measurement Year will be forfeited and will
revert back to the Company without payment to you of any consideration.

3.   Termination
          of Employment.   If
          your employment with the Company or a subsidiary is terminated by you
          or  the Company for any reason prior to the vesting of all or a portion
          of the Units, the Units which have not vested will be forfeited and
          will revert back to the Company without payment to you of any consideration.
          The foregoing notwithstanding, if
you remain employed by the Company or a subsidiary as of the last day of any
          Measurement Year but your employment terminates during the period between
          the end of the Measurement Year and the date on which the Committee
          makes a determination  regarding the Performance Goals for that Measurement
          Year, you will continue to be eligible to vest in your Units attributable
          to that Measurement Year to the same extent you would have been eligible
          to vest in those Units had you remained employed
through the date on which the Committee makes such determination. Upon such determination,
          the Units for that Measurement Year which have not vested will thereupon
          be forfeited and will revert back to the Company without payment to
          you of any
consideration.

 4.   Stockholder
          Rights.   Prior
          to the time that your Units vest and the Company has issued shares
          of Applied  Biosystems Stock relating to such Units, you will not be
          deemed to be the holder of, or to have any of the rights of a holder
          with respect to, any shares of Applied Biosystems Stock deliverable
          with respect to such Units.

5.   Non-Transferability.   Prior
        to the time that your Units vest and the Company has issued shares of
        Applied Biosystems Stock relating to such Units, none of the shares of
        Applied Biosystems Stock subject to the Units may be sold, assigned,
        bequeathed, transferred, pledged, hypothecated, or
otherwise disposed of in any way.

6.   Change
          of Control.   Subject
          to the terms of the Plan, all outstanding Units
will be deemed vested (without
regard to the vesting dates) upon the occurrence of any of the events set forth
in Section 11 of the Plan.

7.   No
          Right to Continued Employment.   Neither
        the Units nor this Agreement confer upon you any right to continue to
        be an employee of the Company or any of its subsidiaries or interferes
        in any way with the right of the Company or any of its subsidiaries to
        terminate your employment at any time. The Units will terminate
upon the termination of your employment for any reason. The Units will not be
        reinstated if you are subsequently reinstated as an employee of the Company
        or any subsidiary.

8.   No
          Right to Future Benefits.   The
          Plan and the benefits offered under the  Plan are provided by the Company
          on an entirely discretionary basis, and the Plan creates no vested
          rights in participants. Neither the Units nor this Agreement confer
          upon you any benefit other than as specifically set forth in this Agreement
          and
the Plan. You understand and agree that the benefits offered under the Units
          and the Plan are not part of your salary and that receipt of the Units
          does not entitle you to any future benefits under the Plan or any other
          plan or program of the  Company. The award of Units is not part of
          normal or expected compensation for purposes of calculating any severance,
          resignation, redundancy, end of service payments, bonuses, long-service
          awards, pension, or retirement benefits or similar
payments.

9.   Compliance
          with Law.   No
          shares of Applied Biosystems Stock will be  delivered to you upon the
          vesting of the Units unless counsel for the Company is satisfied that
          such delivery will be in compliance with all applicable laws.

10.   Entire
          Agreement.   This Agreement and the Plan contain the entire agreement between
          you and the Company regarding the Units and supersede all prior arrangements
          or understandings with respect thereto.

11.   Terms
          of Plan Govern.   This
          Agreement and the terms of the Units will be  governed by the terms
          of the Plan which is hereby incorporated by reference in this Agreement.
          In the event of any ambiguity in this Agreement or any inconsistency
          between the terms of this Agreement and the terms of the Plan, the
          terms of the Plan
will govern. By your signature below, you acknowledge receipt of the Plan Summary
          and agree to be bound by all of the terms of the Plan. 

2

12.   Amendments.   The
        Units or the Plan may, subject to certain exceptions, be  amended by
        the Committee at any time in any manner. However, no amendment of the
        Units or the Plan will adversely affect in any material manner any of
        your rights under the Units without your consent.

13.   Governing
        Law.   This
        Agreement will be governed by and construed in  accordance with the internal
        laws of the State of Delaware.

14.   Withholding.   By
          signing this Agreement, you agree that the Company may,  in its sole
          discretion (but subject to any limitations imposed by law), require
          you to satisfy any tax, social insurance or social security withholding
          obligations arising in connection with the Units or your participation
          in the Plan by: (a) paying
the Company or your employer, as the case may be, an amount sufficient to satisfy
          any applicable tax, social insurance and social security withholding
          obligations; (b) deducting from your salary or any other cash payments
          due to you a sum equal to  any applicable tax, social insurance and
          social security withholding obligations; (c) withholding a number of
          shares of Applied Biosystems Stock with a fair market value equal to
          any applicable tax, social insurance and social security withholding

obligations; or (d) any combination of the foregoing.

15.   Data
          Privacy.   By
          signing this Agreement, you consent to the collection,  use, processing
          and transfer of personal data as described in this paragraph. You understand
          that the Company and its subsidiaries hold certain personal information
          about you, including your name, home address and telephone number,
          date of birth,
social security number, social insurance number or other employee identification
          number, salary, nationality, job title, any shares of stock or directorships
          held in the Company, details of all options or any other entitlement
          to shares of stock  awarded, canceled, purchased, vested, unvested
          or outstanding in your favor, for the purpose of managing and administering
          the Plan (“Data”). You further understand that the Company
          and/or its subsidiaries will transfer Data amongst  themselves as necessary
          for the purpose of implementation, administration and management of
          your participation in the Plan, and that the Company and/or any of
          its subsidiaries may each further transfer Data to any third parties
          assisting the Company
in the implementation, administration and management of the Plan. You understand
          that these recipients may be located in the United States and elsewhere.
          You authorize them to receive, possess, use, retain and transfer the
          Data, in electronic or  other form, for the purposes of implementing,
          administering and managing your participation in the Plan, including
          any requisite transfer of such Data as may be required for the administration
          of the Plan and/or the subsequent holding of shares of
stock on your behalf to a broker or other third party with whom you may elect
          to deposit any shares of stock acquired pursuant to the Plan. You understand
          and further authorize the Company and/or any of its subsidiaries to
          keep Data in your  personnel file. You also understand that you may,
          at any time, review Data, require any necessary amendments to Data
          or withdraw the consents herein in writing by contacting the Company.
          You further understand that withdrawing your consent may
affect your ability to participate in the Plan.

3

IN WITNESS WHEREOF, this Agreement has been duly executed by the undersigned as of the day
and year first written above.

	 	 	APPLERA
    CORPORATION
	 	 	 
	 	By:	

	 	 	Chairman,
    President and

    Chief Executive Officer

 

	Accepted
    and Agreed:	 
	 	 
	 	 
	
	 
	[Name]	 

4

 Performance
Vesting

APPLERA CORPORATION/APPLIED
BIOSYSTEMS GROUP

AMENDED AND RESTATED 1999 STOCK INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

 Exhibit
I

Subject to the terms of the Plan and the Agreement to which this Exhibit I relates, your Units will vest in increments of up to 25% of the total award per fiscal year in accordance with the
following schedule, based on whether the revenue of the Applied Biosystems group of Applera Corporation in each applicable fiscal year meets the Performance Goals specified below, as determined by the Committee. Unless the Committee otherwise
determines, Units will not vest incrementally between these Performance Goal measures.

	
      Measurement

    Year	 	 	 	
Performance
Goals

Revenue
(in millions)	 	
Vesting
as a

Percentage
of the

Targeted
Units	 	
Vesting
as a

Percentage
of the

Total Units	 
	
	 	 	 	
	 	
	 	
	 

	
FY 2006	 	
Minimum Threshold	 	
$[      ]
		 	
50
		
%	
10.42
		
%
	 	 	
Target	 	
$[      ]
		 	
100
		
%	
20.83
		
%
	 

		 	
Outperformance	 	
$[      ]
		 	
120
		
%	
25.00
		
%
	
FY 2007	 	
Minimum Threshold	 	
$[      ]
		 	
50
		
%	
10.42
		
%
	 

		 	
Target	 	
$[      ]
		 	
100
		
%	
20.83
		
%
	 

		 	
Outperformance	 	
$[      ]
		 	
120
		
%	
25.00
		
%
	
FY 2008	 	
Minimum Threshold	 	
$[      ]
		 	
50
		
%	
10.42
		
%
	 

		 	
Target	 	
$[      ]
		 	
100
		
%	
20.83
		
%
	 

		 	
Outperformance	 	
$[      ]
		 	
120
		
%	
25.00
		
%
	
FY 2009	 	
Minimum Threshold	 	
$[      ]
		 	
50
		
%	
10.42
		
%
	 

		 	
Target	 	
$[      ]
		 	
100
		
%	
20.83
		
%
	 

		 	
Outperformance	 	
$[      ]
		 	
120
		
%	
25.00
		
%

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