Document:

Prepared and filed by St Ives Burrups

EXHIBIT 10.10

THE EXCESS BENEFIT PLAN

OF

APPLERA CORPORATION

Amended and Restated

Effective July 1, 2004

 

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TABLE OF CONTENTS

	 	 	Page No.
	 	 	

	ARTICLE 1	Definitions	1
	 	 	 
	ARTICLE 2	Purpose of Plan	4
	 	 	 
	ARTICLE 3	Eligibility	5
	 	 	 
	ARTICLE 4	Benefits	6
	 	 	 
	ARTICLE 5	Investment Direction	9
	 	 	 
	ARTICLE 6	Administration	11
	 	 	 
	ARTICLE 7	Amendment and Termination	14
	 	 	 
	ARTICLE 8	Trust	15
	 	 	 
	ARTICLE 9	Miscellaneous	16

 

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THE EXCESS BENEFIT PLAN 

OF

APPLERA CORPORATION

     Applera Corporation, a Delaware corporation having its principal place of business in Norwalk, Connecticut, hereby restates as of July 1, 2004, The Excess Benefit Plan of Applera Corporation, which was effective as of August 1, 1984.

ARTICLE 1

Definitions

     The words and phrases defined hereinafter shall have the following meaning:

     Section
      1.1 - Act.  The Employee Retirement Income Security Act of 1974.

     Section
      1.2 - Beneficiary.  The person or persons named under the provisions
      of Section 4.4 of this Plan.

     Section
      1.3 - Board of Directors.  The Board of Directors of the Company.

     Section
      1.4 - Change in Control.  Shall mean 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 effective date hereof, pursuant to Section 13
      or 15(d) of the Securities Exchange Act of 1934, as amended; provided,
      however, that, without limitation, such a Change in Control shall be deemed
      to have occurred at such time as (a) any “person” within the
      meaning of Section 14(d) of the Securities Exchange Act of 1934, as amended,
      becomes the “beneficial owner” as defined in Rule 13d-3 thereunder,
      directly or indirectly, of more than 25% of the combined voting power of
      the then outstanding voting securities of the Company entitled to vote
      generally in the election of directors; (b) during any two-year period,
      individuals who constitute the Board (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, other than in response to an actual
      or threatened Change in Control or proxy contest) shall be, for

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purposes
          of this clause (b), considered as though such person were a member
    of the Incumbent Board; or (c) the approval by the Company’s stockholders
          of the sale of all or substantially all of the stock or assets of the
    Company.

     Section
      1.5 - Code.  The Internal Revenue Code of 1986, as amended,
      or as it may be amended from time to time.

     Section
      1.6 - Company.  Applera Corporation, a Delaware corporation,
      or any successor to it in ownership of all or substantially all of its
      assets.

     Section
      1.7 - Committee.  The Committee as appointed by the Board of
      Directors and shall be the same Committee as constituted under Article
      XII of The Employee Pension Plan of Applera Corporation.

     Section
      1.8 - Defined Contribution Account– Shall mean the
      book account which reflects the credits under Section 4.1(b) and the investments
      gains or losses under Article 5 to the book account.

     Section
      1.9 - Defined Contribution Credit– Shall mean the credit
      to a Participant’s Defined Contribution Account under Section 4.1(b)
      of the Plan.

     Section
      1.10 -  Effective Date.  August 1, 1984.  The effective date
      of this restatement is July 1, 2004.

     Section
1.11 - Employee.  Any person, including any officer or director who is employed
in the service of the Company and who is a participant in the Pension Plan or
the Savings Plan.

     Section
      1.12 - Measurement Funds.  A Participant may elect one or more of the
      Measurement Funds selected by the Committee for the purpose of crediting
      additional amounts to his or her Defined Contribution Account. The Committee
      may, in its sole discretion, discontinue, substitute or add a Measurement
      Fund on a prospective basis at any time and in any manner it deems appropriate.

     Section 1.13- Pension Plan.  The Employee Pension Plan of Applera Corporation.

     Section
      1.14 - Plan.  The Excess Benefit Plan of Applera Corporation.

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     Section
      1.15 - Plan Year.  The period August 1, 1992 through June 30, 1993
      shall constitute a short Plan Year. Thereafter, a Plan Year shall mean
      each twelve
      (12) consecutive month period from July 1 to the next succeeding June 30.

     Section
      1.16 - Savings Plan.  The Employee 401(k) Savings Plan of Applera Corporation.

     Any word or phrase that is not a defined term in this section, which is a defined word or term in either the Savings Plan or Pension Plan and is used in this Plan, shall have the same meaning as it does in the Plan in which it appears.

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ARTICLE 2

Purpose of Plan

     Section
2.1 - Purpose.  This Plan is designed to provide retirement benefits payable
out of the general assets of the Company where benefits cannot be paid under
the Pension Plan and/or contributions are limited under the Savings Plan because
of the application of Code Section 415 and Code Section 401(a)(17) and the provisions
of the Pension Plan and/or the Savings Plan which implement such sections.

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ARTICLE 3

Eligibility

     Section
3.1 - Eligibility.  Participation in the Plan shall be limited to a select
group of management or highly compensated Employees of the Company, as determined
by the Committee in its sole discretion. From that group, the Committee shall
select in its sole discretion, Employees to participate in the Plan.

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ARTICLE 4

Benefits

     Section
4.1 - Amount of Benefits.  The benefit payable under this Plan shall be equal
to the sum of the following amounts:

		
a)	
the benefit, if any, which, when calculated under the Pension Plan without taking into account the provisions of the Pension Plan dealing with limits on pensions imposed by Code Section 415 and Code Section 401(a)(17), is in excess of the benefit payable
to or on behalf of the Employee under the Pension Plan after taking into account
such provisions; and
		 	 
		b)	
an amount equal to the Company Matching Contributions which would have been allocated on behalf of the Employee under Article III of the Savings Plan if the limitations of Code Sections 401(a)(17) and 415 were inapplicable, adjusted to take into account investment income and gain or loss experienced by the Measurement Funds as selected by the Participant.
	 	 	 
	 	 	In order to receive a Defined Contribution Credit under this Plan, the Employee must make a Voluntary Tax Deferred Contribution to the Savings Plan equal to the Section 402(g) of the Code limitation.  The amount of the Defined Contribution Credit under this Plan shall be equal to the lesser of (i) six percent (6%) of the Employee’s gross compensation before pre-tax reductions or (ii) the Section 402(g) of the Code limitation offset by the Company Matching Contribution in the Savings Plan.
	 	 	 
	 	 	Prior to July 1, 2004, the Plan also provided credits for Automatic Company Contributions and Additional Automatic Company Contributions which were impacted by the limitations described in the above paragraph.

     Section
      4.2 - Form of Benefit Payment.  Benefits payable to or on behalf of
      an Employee or his Beneficiary resulting from the provisions of Section
      4.1 shall be payable as follows:

		
a)	
A benefit payable under Section 4.1(a) shall be paid
in monthly installments after adjustment in accordance with the optional form
of benefits elected under the Pension Plan. The Beneficiary under this Section
4.1(a) shall be
	 	 	 

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		 	the same as the Pension Plan. Notwithstanding,
      if the lump sum
present value of an Employee’s benefit at time of payment is equal to or
less than $5,000, such benefit shall be paid in a lump sum.
		 	 
		
b)	
The form of a benefit payable under Section 4.1(b) shall be subject to the discretion of the Committee.  It may be paid in the form of a lump sum, a term certain annuity, single life annuity, joint and survivor annuity or by a combination of such methods.  Notwithstanding, if the Employee’s Defined Contribution at time of payment is equal to or less than $5,000, such Defined Contribution Account shall be paid in a lump sum.

     Section
      4.3 - Time of Benefit Payments.  Benefits due under this Plan shall
      be paid at such time or times following the Employee’s termination,
      retirement or death as the Committee in its discretion determines.

     Section
      4.4 - Beneficiary in the Event of Death.  

	 	a)	
 Each Employer shall have the right, at any time, to designate his Beneficiary for purposes of the Section 4.1(b) Defined Contribution Account to receive any benefits payable under the Plan upon his death.  The Beneficiary designated under the Plan may be the same as or different from the Beneficiary designation under any other plan of the Company in which the Employee participates.  
	 	 	 
	 	b)	
 An Employee shall designate his Beneficiary in the form and manner specified by the Committee.  An Employee shall have the right to change his Beneficiary by complying with the terms of the Committee’s rules and procedures, as in effect from time to time.  If a married Participant names someone other than his spouse as a Beneficiary, a spousal consent, in the form designated by the Committee, must be signed by that Participant’s spouse and returned to the Committee.  Upon the acceptance by the Committee of a new Beneficiary designation, all Beneficiary designations previously made shall be canceled.  The Committee shall be entitled to rely on the last Beneficiary designation made by the Employee and accepted by the Committee prior to his
death.
	 	 	 
	 	c)	
 No designation or change in designation of a Beneficiary
shall be effective until received and acknowledged in writing by the Committee
or its
	 	 	 

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	 	 	 designated agent.
	 	 	 
	 	d)	Upon the death of an Employee, any remaining
        benefits due under this Plan to an Employee other than benefits resulting
        from subsection 4.1(a) shall be distributed to (i) the Beneficiary designated
        by the Employee under this Plan, or if none, (ii) the Beneficiary designated
        by the Employee under the Pension Plan, or if none, (iii) the Beneficiary
        designated by the Employee under the Savings Plan, or if none, (iv) the
    estate of the deceased Employee.
	 	 	 

     Section
      4.5 - Benefits Unfunded.  Benefits payable under this Plan shall be
      paid by the Company each year out of its general assets and shall not be
      funded in any manner.

     Section
      4.6 - Vesting.  An Employee
shall not have a right to a benefit under this Plan unless:

		
a)	
for purposes of the Section 4.1(a) benefit, he has five (5) years
of vesting service under the Pension Plan; and

		 	 
		b)	for purposes of the Section 4.1(b) benefit, he has
completed years of vesting service under the Savings Plan in accordance with the following schedule:
		 	 

	 	Years of Vesting
    Service	Vested Percentage
	 	 	 	 	 	 
	 	 	Less than 1	 	0	%
	 	 	1 but less than 2	 	25	%
	 	 	2 but less than 3	 	50	%
	 	 	3 but less than 4	 	75	%
	 	 	4 or more	 	100	%

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ARTICLE 5

Investment Direction

     Section
      5.1 - Investment of Defined Contribution Credit.  A Participant shall
      elect, in such form and manner as the Committee may direct or permit, the
      percentage of his or her Defined Contribution Credit that will be deemed
      invested in each Measurement Fund. An initial investment election of a
      Participant shall be made as of July 1, 2004 for existing Participants
      and for new Participants, the date the Participant commences or recommences
      participation in the Plan. The Participant may make changes to such investment
      elections at such times and in such manner as the Committee may permit,
      and such elections shall apply to his or her Defined Contribution Credit
      from and after the effective date of such election. Any investment election
      timely and properly made pursuant to this Section 5.1 with respect to a
      Participant’s Defined Contribution Credit shall remain in effect
      until changed by the Participant. The Committee shall have complete discretion
      to adopt and revise procedures to be followed in making investment elections.

     Section
      5.2 - Investment of Existing Defined Contribution Account.  A Participant,
      in connection with his or initial Defined Contribution Credit election
      in accordance with Section 5.1 above, shall elect, in such form and manner
      as the Committee may direct or permit, the percentage of his or her exiting
      Defined Contribution Account that will be deemed invested in each Measurement
      Fund. The Participant may make changes to such investment elections at
      such times and in such manner as the Committee may permit, and such elections
      shall apply to his or her Defined Contribution Account from after the effective
      date of such election. Any investment election timely and properly made
      pursuant to this
Section 5.2 with respect to a Participant’s Defined Contribution Account
shall remain in effect until changed by the Participant. The Committee shall
have complete discretion to adopt and revise procedures to be followed in making
investment elections.

     Section
      5.3 - Proportionate Allocation.  In making any election described in
      Sections 5.1 and 5.2 above, the Participant shall specify, in any whole
      percentage, the percentage of his or her Defined Contribution Credit and/or
      Defined Contribution Account to be allocated to a Measurement Fund (as
      if the Participant was making an investment in that Measurement Fund with
      that portion of his or her Defined Contribution Credit or Defined Contribution
      Account as the case may be). Such election shall be made in such form and
      manner as the Committee shall direct or permit.

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     Section
      5.4 - Crediting or Debiting Method.  The performance of each Measurement
      Fund (either positive or negative) will be determined by the Committee,
      in its reasonable discretion, based on the performance of the Measurement
      Funds themselves. A Participant’s Defined Contribution Account shall
      be credited or debited on a daily basis based on the performance of each
      Measurement Fund selected by the Participant, as determined by the Committee
      in its sole discretion, as though (a) a Participant’s Defined Contribution
      Account was invested in the Measurement Fund(s) selected by the Participant,
      in the percentages applicable as of the close of business on such date
      and at the closing price on such date; (b) the portion of the Defined Contribution
      Credit that was credited was invested in the Measurement Fund(s) selected
      by the Participant, in the percentages applicable as of the close of business
      on the business day on which such amounts were credited to the Defined
      Contribution Account at the closing price on such date; and (c) any distribution
      made to a Participant that decreases such Participant’s Defined Contribution
      Account ceased being invested in the Measurement Fund(s), in the percentages
      applicable, as of the business day prior to the distribution, at the closing
      price on such date.

     Section
      5.5 - No Actual Investment.  Notwithstanding any other provision of
      the Plan that may be interpreted to the contrary, the Measurement Funds
      are to be used for measurement purposes only, and a Participant’s
      election of any such Measurement Fund, the allocation of his or her Defined
      Contribution Credit and/or defined Contribution Account thereto, the calculation
      of additional amounts and the crediting or debiting of such amounts to
      a Participant’s Defined Contribution shall not be considered or construed
      in any manner as an actual investment of, or as a requirement or direction
      to actually invest, his or her Defined Contribution Credit or Defined Contribution
      Account in any such Measurement Fund. In the event that the Company or
      the trustee of the Trust, in its own discretion, decides to invest funds
      in any or all of the Measurement Funds, no Participant shall have any rights
      in or to such investments themselves. Without limiting the foregoing, a
      Participant’s Defined Contribution Account shall at all times be
      a bookkeeping entry only and shall not represent any investment made on
      his or her behalf of the Company or the Trust. The Participant shall at
      all times remain an unsecured creditor of the Company.

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ARTICLE 6

Administration

     Section
      6.1 - Committee Duties.  The Plan shall be administered by a
      Committee which shall be appointed by the Board of Directors and shall
      be the same Committee as constituted under Article XII of The Employee
      Pension Plan of Applera Corporation. Members of the Committee may be participants
      under the Plan. The Committee shall also have the absolute discretion and
      authority to (a) make, amend, interpret, and enforce all appropriate rules
      and regulations for the administration of the Plan and (b) decide or resolve
      any and all ques­tions, including interpretations of the Plan, as
      may arise in connection with the Plan. Any individual serving on the Committee
      who is a participant shall not vote or act on any matter relating solely
      to himself. When making a determination or calculation, the Committee shall
      be entitled to rely on information furnished by an Employee or the Company.

     Section
      6.2 - Agents. In the administration of the Plan,
      the Committee may, from time to time, employ agents and delegate to them
      such administrative duties as it sees fit (including acting through a duly
      appointed representative) and may from time to time consult with counsel
      who may be counsel to the Company.

     Section
      6.3 - Binding Effect of Decisions.  The decision or action of
      the Committee with respect to any question arising out of or in connection
      with the administration, interpretation and application of the Plan and
      the rules and regulations promulgated hereunder shall be final and conclusive
      and binding upon all persons having any interest in the Plan.

     Section
      6.4 - Indemnity of Committee.  The Company shall indemnify and
      hold harmless the members of the Committee and any Employee to whom the
      duties of the Committee may be delegated against any and all claims, losses,
      damages, expenses, or liabilities arising from any action or failure to
      act with respect to the Plan, except in the case of willful misconduct
      by the Committee or any of its members or any such Employee.

     Section
      6.5 - Claims Procedure

     (a)      A
    claim for benefits under the Plan must be made to the Committee in writing.
    The Committee shall have the absolute power, authority and discretion to
    adjudicate claims. The applicant shall be notified in writing of any adverse
    decision with

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respect to his claim within ninety
      (90) days after its submission. The notice shall be written in a manner calculated
      to be understood by the
        applicant and shall include:              

	 	 	(1)	the specific reason or reasons
    for the denial;
	 	 	 	 
	 	 	(2)	
 specific references to the pertinent Plan provisions on which the denial is based;
	 	 	 	 
	 	 	(3)	
 a description of any additional material or information necessary for the applicant to perfect the claim and an explanation why such material or information is necessary;
	 	 	 	 
	 	 	(4)	an explanation of the Plan’s
    claim review procedures; and
	 	 	 	 
	 	 	(5)	a statement of the applicant’s
    right to bring civil action under ERISA.

If special circumstances require an extension of time for processing the initial claim, a written notice of the extension and the reason therefor shall be furnished to the applicant before the end of the initial ninety (90) day period.  In no event shall such extension exceed ninety (90) days.

     (b)      In the event a claim for benefit is denied, the applicant or his duly authorized representative, at the applicant’s expense, may appeal the denial to the Committee within sixty (60) days of the receipt of written notice of denial.  In pursuing such appeal, the applicant or his duly authorized representative may:

	 	(1)	request in writing that the Committee
    review the denial;
	 	 	 
	 	(2)	
 review all relevant documents, records, and other information relevant to the claim; and
	 	 	 
	 	(3)	submit issues and comments in
    writing.

     The
    decision on review shall be made within sixty (60) days of receipt of the
    request for review, unless special circumstances require an extension of
    time for processing, in which case a decision shall be rendered as soon as
    possible, but not later than one hundred twenty (120) days after receipt
    of a request for review. If such an extension of time is

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required, written
          notice of the extension shall be furnished to the applicant before
    the end of the original sixty (60) day period which explains the reasons
    for
        the
          extension and the date a decision is expected. The decision on review
      shall be written in a manner calculated to be understood by the applicant,
      and
          shall include specific references to the pertinent Plan provisions
    on which such denial is based, a statement that applicants can receive free
      of charge
          copies of all documents, records, and other information relevant to
    the
        claim; a statement describing the applicant’s right to bring civil
        action under ERISA; and a description of voluntary appeals procedures,
        if any, offered
          by the Plan.

     Compliance with the forgoing provisions of Section 6.5 is a mandatory prerequisite to the Employee’s or Beneficiary’s right to commence any legal action with respect for benefits under the Plan.

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ARTICLE 7

Amendment and Termination

     Section
      7.1 - Amendment and Termination.  While the Company intends to maintain
      this Plan in conjunction with the Pension Plan and the Savings Plan for
      as long as necessary, the Company acting through its Board, reserves the
      right to amend and/or terminate it at any time for whatever reasons it
      may deem appropriate.

     Section
      7.2 - Committee and Amendment of Plan.  Notwithstanding Section 7.1
      above, the Committee shall be authorized to amend the Plan without the
      approval of the Board. However, the Committee shall not have the authority
      to amend the Plan if such amendment shall have a financial impact to the
      Company of one million dollars or more.

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ARTICLE 8

Trust

     Section
8.1 - Establishment of the Trust Notwithstanding the Unfunded Status of the Plan.
The Company may establish a grantor Trust, and may transfer over to the Trust
such assets as the Company determines, in its sole discretion, are necessary
to provide, on a present value basis, for its respective future liabilities created
with respect to the Defined Contribution Account.

     Section
      8.2 - Interrelationship of the Plan and the Trust.  The provisions
      of the Plan and the Plan Agreement shall govern the rights of a Participant
      to receive distributions pursuant to the Plan. The provisions of the Trust
      shall govern the rights of the Company, Participants, and the creditors
      of the Company to the assets transferred to the Trust.

     Section
      8.3 - Distributions From the Trust.  The Company’s obligations
      under the Plan may be satisfied with Trust assets distributed pursuant
      to the terms of the Trust, and any such distribution shall reduce the Company’s
      obligations under the Plan.

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ARTICLE 9

Miscellaneous

     Section
      9.1 - Status of Plan.  The Plan is intended to be a plan that is not
      qualified within the meaning of Code Section 401(a) and that “is
      unfunded and is maintained by an employer primarily for the purpose of
      providing deferred compensation for a select group of management or highly
      compensated employees” within the meaning of ERISA Sections 201(2),
      301(a)(3), and 401(a)(1). The Plan shall be administered and interpreted
      to the extent possible in a manner consistent with that intent.

     Section
      9.2 - Unsecured General Creditor.  Participants and their Beneficiaries,
      heirs, successors, and assigns shall have no legal or equitable rights,
      interests, or claims in any property or assets of the Company. For purposes
      of the payment of benefits under the Plan, any and all of the Company’s
      assets shall be, and remain, the general, unpledged unrestricted assets
      of the Company. The Company’s obligation under the Plan shall be
      merely that of an unfunded and unsecured promise to pay money in the future.

     Section
      9.3 - Company’s Liability.  This Plan supersedes and shall be
      in lieu of all prior plans, arrangements, or understandings regarding the
      benefits provided by the Plan, whether written or oral.

     Section
      9.4 - Nonassignability.  Neither a Participant nor any other person
      shall have any right to commute, sell, assign, transfer, pledge, anticipate,
      mortgage, or otherwise encumber, transfer, hypothecate, alienate, or convey
      in advance of actual receipt, the amounts, if any, payable hereunder, or
      any part thereof, which are, and all rights to which are expressly declared
      to be, unassignable and non-transferable. No part of the amounts payable
      shall, prior to actual payment, be subject to seizure, attachment, garnishment,
      or sequestration for the payment of any debts, judgments, alimony, or separate
      maintenance owed by a Participant or any other person, be transferable
      by operation of law in the
event of a Participant’s or any other person’s bankruptcy or insolvency,
or be transferable to a spouse as a result of a property settlement or otherwise.

     Section
      9.5 - Not a Contract of Employment.  The terms and conditions of the
      Plan shall not be deemed to constitute a contract of employment between
      the Company and a Participant. Such employment is hereby acknowledged to
      be an “at will” employment relationship that can be terminated
      at any time for any reason, or no reason, with or without cause, and with
      or without notice, except as otherwise expressly provided in a written
      employment agreement. Nothing in the Plan shall be deemed to give a

 

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Participant
            the right to be retained in the service of the Company as an Employee
        or to interfere with the right of any Employer to discipline or discharge
            the Participant at any time.

     Section
      9.6 - Furnishing Information.  A Participant or his or her Beneficiary
      shall cooperate with the Committee by furnishing any and all information
      requested by the Committee and take such other actions as may be requested
      in order to facilitate the administra­tion of the Plan and the payments
      of benefits hereunder, including but not limited to taking such physical
      examinations as the Committee may deem necessary.

     Section
      9.7 - Terms.  Whenever any words are used herein in the masculine,
      they shall be construed as though they were in the feminine in all cases
      where
      they would so apply; and whenever any words are used herein in the singular
      or in the plural, they shall be construed as though they were used in the
      plural or the singular, as the case may be, in all cases where they would
      so apply.

     Section
9.8 - Captions.  The captions of the articles, sections, and paragraphs of
the Plan are for convenience only and shall not control or affect the meaning
or construction of any of its provisions.

     Section
      9.9 - Governing Law.  The provisions of the Plan shall be construed
      and interpreted according to the internal laws of the State of Connecticut
      without regard to its conflicts of laws principles.

     Section
      9.10 - Notice.  Any notice or filing required or permitted to be given
      to the Committee under the Plan shall be sufficient if in writing and hand-delivered,
      or sent by registered or certified mail, to the address below: 

Applera Corporation

301 Merritt 7

Norwalk, CT  06851-1070

Attn:
Vice President – Human Resources 

     Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification.

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     Any notice or filing required or permitted to be given to a Participant under the Plan shall be sufficient if in writing and hand-delivered, or sent by mail, to the last known address of the Participant.

     Section
      9.11 - Successors.  The provisions of the Plan shall bind and inure
      to the benefit of the Participant’s Company and its successors and
      assigns and the Participant and the Participant’s designated Beneficiaries.

     Section
      9.12 - Spouse’s Interest.  The interest in the benefits hereunder
      of a spouse of a Participant who has predeceased the Participant shall
      automatically pass to the Participant and, except as otherwise provided
      in Section 9.15, shall not be transferable by such spouse in any manner,
      including but not limited to such spouse’s will, nor shall such interest
      pass under the laws of intestate succession.

     Section
      9.13 - Validity.  In case any provision of the Plan shall be determined
      to be illegal or invalid for any reason, said illegality or invalidity
      shall not affect the remaining parts hereof, but the Plan shall be construed
      and enforced as if such illegal or invalid provision had never been inserted
      herein.

     Section
      9.14 - Incompetency.  If the Committee determines in its discretion
      that a benefit under the Plan is to be paid to a minor, a person declared
      incompetent, or to a person incapable of handling the disposition of that
      person’s property, the Committee may direct payment of such benefit
      to the guardian, legal representative, or person having the care and custody
      of such minor, incompetent, or incapable person. The Committee may require
      proof of minority, incompetence, incapacity, or guardianship, as it may
      deem appropriate, prior to distribution of the benefit. Any payment of
      a benefit shall be a payment for the account of the Participant and the
      Participant’s Beneficiary, as the
case may be, and shall be a complete discharge of any liability under the Plan
      for such payment amount.

     Section
      9.15 - Legal Fees to Enforce Rights After Change in Control.  The Company
      is aware that upon the occurrence of a Change in Control, the Board or
      (which might then be composed of new members) or a shareholder of the Company,
      or of any successor corporation might then cause or attempt to cause the
      Company or such successor to refuse to comply with its obligations under
      the Plan and might cause or attempt to cause the Company to institute,
      or may institute, litigation seeking to deny Participants the benefits
      intended under the Plan. In these circumstances, the purpose of the Plan
      could be frustrated. Accordingly, if, following a Change in Control, it
      should

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appear to any participant that the
      Company, or any successor corporation has failed to comply with any of its
      obligations under the Plan or any
          agreement thereunder or, if the Company, or any other person takes any
          action to declare the Plan void or unenforceable or institutes any litigation
          or other legal action designed to deny, diminish, or to recover from
      any participant the benefits intended to be provided, then the Company irrevocably
          authorize such participant to retain counsel of his or her choice at
      the
          expense of the Company to represent such participant in connection with
          the initiation or defense of any litigation or other legal action, whether
          by or against the Company or any director, officer, shareholder, or other
          person affiliated with the Company or any successor thereto in any jurisdiction.

     Section
      9.16 - Tax Withholding.  The Company or the trustee of the Trust shall
      withhold, in such manner as determined by the Company or the trustee (as
      the case may be) in its sole discretion, from any payments made to a Participant
      under the Plan such amount or amounts as may be required to comply with
      all federal, state, and local income, employment, and other withholding
      obligations. 

     Section
      9.17 - Effect on Other Employee Benefit Plans.  Any benefit paid or
      payable under this Plan shall not be included in a Participant’s
      compensation for purposes of computing benefits under any employee benefit
      plan maintained or contributed to by an Employer except as may otherwise
      be required under the terms of such employee benefit plan.

The information contained herein has been provided by Applera Corporation and is the sole responsibility of Applera Corporation.

 

19Prepared and filed by St Ives Burrups

 

EXHIBIT 10.34

	
	
	

  

  

  

AMENDMENT TO

CELERA DIAGNOSTICS

JOINT VENTURE AGREEMENT

AS OF JUNE 22, 2004

  

  

  

	
	
	

 

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AMENDMENT TO JOINT VENTURE AGREEMENT

          AMENDMENT TO JOINT VENTURE AGREEMENT (this “Amendment”), dated as of the 22nd day of June, 2004, is by and among Applera Corporation (“Applera”), the Applied Biosystems Group of Applera (“ABI”), the Celera Genomics Group of Applera (“CRA”), Foster City Holdings, LLC (“ABI LLC”), and Rockville Holdings, LLC (“CRA LLC”).

RECITALS

          WHEREAS, the parties have entered into a Joint Venture Agreement dated as of April 1, 2001 (the “JV Agreement”);

          WHEREAS, the parties have proposed the amendments to the JV Agreement reflected herein to align certain procedural provisions of the JV Agreement with Applera practices, and those amendments have been approved by the Inter-Group Policy Committee as defined in, and required by, by the JV Agreement.

          NOW, THEREFORE, the parties hereto agree to the following amendments to the JV Agreement:

          1.  The last paragraph of Section 2.3 of Annex E to the JV Agreement is hereby amended and restated in its entirety to read as follows:

	 	The JV Board shall review and approve the JV Company business plan and corresponding budget (including fixed and working capital requirements) for each of its fiscal years consistent with the timing of the Applera annual budgeting and planning processes, and at such other times as the JV Board determines from time to time.

          2.  The following sentence is hereby added to the end of Section 4.1(b) of Annex E to the JV Agreement:  “Notwithstanding anything to the contrary contained herein, the approval of any matters by members of the JV Board at Applera Executive Committee or other meetings shall be deemed approval by them in their capacity as members of the JV Board, and therefore approval by the JV Board, without the need to call a separate JV Board meeting, provided that the quorum provisions of this paragraph shall have been met at any such meeting.”

 

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          IN WITNESS WHEREOF, the parties agree to the foregoing as of the date first written above.

	 	APPLERA CORPORATION
	 	 	 
	 	By:	/s/ Tony L. White

       Name: Tony L. White 

       Title: Chairman, President and 

       Chief Executive Officer 
	 	 	 
	 	APPLIED BIOSYSTEMS
        GROUP OF

APPLERA CORPORATION
	 	 	 
	 	By: 	/s/ Catherine
          M. Burzik

       Name: Catherine M. Burzik

     Title: President
	 	 	 
	 	CELERA GENOMICS
        GROUP OF

APPLERA CORPORATION
	 	 	 
	 	By: 	/s/ Kathy
          Ordoñez

     Name: Kathy Ordoñez

     Title: President
	 	 	 
	 	FOSTER CITY HOLDINGS,
    LLC
	 	 	 
	 	By: Applera Corporation,
        acting through the

Applied Biosystems Group, as the sole member 

of Foster City Holdings, LLC
	 		 
	 	By: 	/s/ Catherine
          M. Burzik_

           Name: Catherine M. Burzik

     Title: President
	 	 	 
	 	ROCKVILLE HOLDINGS,
    LLC
	 	 	 
	 	By: Applera Corporation,
        acting through the

Celera Genomics Group, as the sole member

of Rockville Holdings, LLC
	 	 	 
	 	By: 	/s/ Kathy
          Ordoñez

       Name: Kathy Ordoñez

       Title: President

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