Sample Business Contracts

Bonus Agreement - PE Corp., Celera Genomics and J. Craig Venter

Bonus Forms

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Dr. J. Craig Venter
Celera Genomics
45 West Gude Drive
Rockville, MD 02850

Dear Dr. Venter:

On behalf of PE Corporation through its Celera Genomics Unit (the "Company"), I
am pleased to confirm the terms and conditions of our agreement regarding your
bonus arrangements.

Your bonus program commenced as of July 1, 1998 and consists of four (4)
periods, each of which is twelve (12) months long ending on June 30 in each of
the years 1999 through 2002 (the "Bonus Periods").

Your bonus entitlement for each Bonus Period is $1,525,000 and will be paid to,
or on your behalf, as follows:

(a)  You must be an employee of the Company on the first and last days of each
     Bonus Period, except in the event of your death or disability (as defined
     for purposes of determining eligibility for Social Security disability
     benefits) in any Bonus Period.

     (i)  In the event of your death or disability, your entitlement (if any)
          will be prorated for the period of time during the Bonus Period during
          which you were actively employed by the Company.

(b)  The closing price of PE Corporation - Celera Genomics Group Common Stock
     (the "Celera Stock") on the New York Stock Exchange must exceed $17.12 per
     share on at least 1 day in each Bonus Period; provided, however, in the
     event of your death or disability, the stock price must be attained within
     90 days after either of said events, even if said 90 days extends into the
     next Bonus Period, unless the stock price was attained earlier in the Bonus
     Period in which your death or disability occurs.

(c)  If the stock price requirement of paragraph (b) above is not satisfied in
     any Bonus Period, your bonus entitlement ($1,525,000) for such Bonus Period
     will be carried over into one or more succeeding Bonus Periods and will be
     paid with, and in addition to, any entitlements attributable to the first
     Bonus Period in which the Celera Stock price exceeds $17.12 per share.

     (i)  Notwithstanding paragraph (a) above, the carried over amount will be
          paid to you, or on your behalf, even if you are not employed on the
          last day of the subsequent Bonus Period and are otherwise ineligible
          for any entitlement for such subsequent Bonus Period.


(d)  Payment of any amounts owing to you under this Agreement shall be made as
     soon as practicable after the end of the Bonus Period to which the payment
     relates; provided, however, any carried over amounts to which you may
     become entitled shall be paid as soon as practicable after the closing
     price of the Celera Stock exceeds $17.12 as provided in paragraph (b)

     (i)  In the event of your death, any such amounts shall be paid to your
          designated beneficiary, or if none, to your estate.

(e)  In lieu of current payments described in paragraph (d) above, you may elect
     to defer part or all of each Bonus Year's entitlement pursuant to the
     provisions of The Perkin-Elmer Corporation Deferred Compensation Plan by
     making an irrevocable election prior to the beginning of each Bonus Period;
     provided, however, for the Bonus Period ending June 30, 1999, any deferral
     election must be made within 10 days of your agreement and acceptance of
     the terms and conditions stated herein.

This letter constitutes the complete agreement between us in respect to your
bonus arrangements. If you are in agreement, please so indicate by signing and
returning the original of this letter. A signed copy is provided for your

Very truly yours,


By:      /s/ Tony L. White
     Chairman, President and
     Chief Executive Officer

The foregoing agreement is
hereby accepted and agreed to.

By:     /s/ J. Craig Venter