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Prepared and filed by St Ives Financial
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<p align="center"><font size="2" face="serif"><b>UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br>Washington, D. C.  20549</b></font></p>
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<p align="center"><font size="2" face="serif"><b>FORM 8-K</b></font></p>
<p align="center"><font size="2" face="serif"><b>CURRENT REPORT</b></font></p>
<p align="center"><font size="2" face="serif"><b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></font></p>  <table width="100%" cellspacing="0" cellpadding="0" border="0">
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  <td align="center"><font size="2" face="serif"><b>August 17, 2006</b></font></td>
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  <td align="center"><font size="2" face="serif">Date of report (Date of earliest
      event reported)</font></td>
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  <td align="center"><font size="2" face="serif"><b><font face="serif" size="3">APPLERA
          CORPORATION</font></b></font></td>
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  <td align="center"><font size="2" face="serif">(Exact name of registrant as
      specified in its charter)</font></td>
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<td width="32%" align="center"><font size="2" face="serif"><b>Delaware</b></font></td>
<td align="left" width="2%">&nbsp;</td>
<td width="32%" align="center"><font size="2" face="serif"><b>1-4389</b></font></td>
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<td width="32%" align="center"><font size="2" face="serif"><b>06-1534213</b></font></td>
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<td width="32%" align="center"><font size="2" face="serif">(State or other jurisdiction<br>
  of Incorporation)</font></td>
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<td width="32%" align="center"><font size="2" face="serif">(Commission<br>file number)</font></td>
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<td width="32%" align="center"><font size="2" face="serif">(IRS Employer<br>Identification No.)</font></td>
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<td align="center"><font size="2" face="serif"><b>301 Merritt 7<br>
  Norwalk, Connecticut
      06851</b></font></td>
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<td align="center"><font size="2" face="serif">(Address of Principal Executive Offices, Including Zip Code)</font></td>
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<td align="center"><font size="2" face="serif"><b>(203) 840-2000</b></font></td>
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<td align="center"><font size="2" face="serif">(Registrant&#146;s telephone number, including area code)</font></td>
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<td align="center"><font size="2" face="serif"><b>N/A</b></font></td>
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<td align="center"><font size="2" face="serif">(Former name or former address, if changed since last report)</font></td>
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<p align="left"><font size="2" face="serif">Check the appropriate box below if
    the Form 8-K filing is intended to simultaneously satisfy the filing obligation
    of the registrant under any of the following provisions:</font></p>
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<td align="left"><font size="2" face="serif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td>
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<td align="left"><font size="2" face="serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td>
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<td align="left"><font size="2" face="serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td>
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<td align="left"><font size="2" face="serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td>
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<td align="left" width="9%"><font size="2" face="serif"><b>Item 1.01.</b></font></td>
<td align="left"><font size="2" face="serif"><b>Entry into a Material Definitive Agreement.</b></font></td>
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<p align="left"><font size="2" face="serif"><b>New Executive Officer Hire</b></font></p>
<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif">Joel R. Jung was hired as Vice
      President, Finance of the Celera Genomics group of Applera Corporation
      (the &#147;Company&#148;) on August 21, 2006. At a meeting of our Board
      of Directors on August 17, 2006, Mr. Jung was elected an Assistant Controller
      of the Company and designated as one of our executive officers, effective
      upon his employment with the Company. Pursuant to the terms of employment
      offered to Mr. Jung, he receives a base annual salary of $250,000, and is entitled
      to participate in our Incentive Compensation Program and receive other
      benefits commensurate with the benefits offered to other similarly situated
      employees. We also intend to pay Mr. Jung a sign-on bonus during our current
      fiscal quarter in an amount equal to $25,000.</font></p>
  <p align="left"><font size="2" face="serif">At a meeting of the Management
      Resources Committee (the &#147;MRC&#148;) of the Board held on August
      17, 2006, the MRC approved the grant to Mr. Jung of options for 50,000
      shares of Applera Corporation-Celera Genomics Group Common Stock (&#147;Celera
      stock&#148;) pursuant to the Applera Corporation/Celera Genomics Group
      Amended and Restated 1999 Stock Incentive Plan (the &#147;Applera-Celera
      Plan&#148;), effective upon his employment with the Company. These options
      become exercisable in four equal annual installments commencing on August
      21, 2007, the first anniversary of Mr. Jung&#146;s date of hire, and have
      a term of ten years. The exercise price for the options is $13.845 per
      share, which was the fair market value of a share of Celera stock on Mr.
      Jung&#146;s date of employment, as determined in accordance with the Applera-Celera
      Plan.</font></p>
  <p align="left"><font size="2" face="serif">In addition, the MRC previously
      approved the grant to Mr. Jung of 19,200 restricted stock units (&#147;RSUs&#148;)
      pursuant to the Applera-Celera Plan, effective upon his employment with
      the Company. Each of these RSUs represents the right to receive one share
      of Celera stock at the time the RSU vests. These RSUs (the &#147;CRA FY
      07-09 RSUs&#148;) generally vest in four increments as follows:</font></p>
</div>
<table width="100%" cellspacing="0" cellpadding="0" border="0">
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<td width="3%"></td>
<td width="3%">
<font size="2" face="serif">&#149;</font></td>
<td>
<font size="2" face="serif">an increment of up to 16.67% of the total amount following the end of fiscal year 2007, based on the attainment of revenue objectives for the Celera Genomics group established by the MRC for that year;</font></td>
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<td>&nbsp;</td>
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<td>&nbsp;</td>
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<td width="3%"></td>
<td width="3%">
<font size="2" face="serif">&#149;</font></td>
<td>
<font size="2" face="serif">an increment of up to 16.67% of the total amount following the end of fiscal year 2008, based on the attainment of revenue objectives for the Celera Genomics group established by the MRC for that year;</font></td>
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<td>&nbsp;</td>
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<td>&nbsp;</td>
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<td width="3%">
<font size="2" face="serif">&#149;</font></td>
<td>
<font size="2" face="serif">an increment of up to 16.67% of the total amount following the end of fiscal year 2009, based on the attainment of revenue objectives for the Celera Genomics group established by the MRC for that year; and</font></td>
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<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
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<td width="3%"></td>
<td width="3%">
<font size="2" face="serif">&#149;</font></td>
<td>
<font size="2" face="serif">an increment of up to 50% of the total amount following the end of fiscal year 2009, based on the attainment of profitability objectives for the Celera Genomics group established by the MRC for fiscal years 2008 and 2009.</font></td>
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  <td>&nbsp;</td>
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<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif">However, the increments of these
      RSUs that vest after the end of our 2009 fiscal year may not vest prior
      to August 17, 2009. Any of these RSUs as to which the vesting targets have
      not been attained will be forfeited. RSUs that have not vested will be
      forfeited and revert back to the Company upon termination of employment
      with the Company or a subsidiary for any reason, although the MRC has the
      discretion to modify the vesting requirements in some circumstances. Prior
      to the vesting of the RSUs, the recipient will not be deemed to be the
      holder of, or have any of the rights of a holder with respect to, any shares
      of Celera stock deliverable with respect to the RSUs. </font></p>
</div>
<p align="left"><font size="2" face="serif"><b>Performance-Based Restricted Stock Units</b></font></p>
<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif"><i>Vesting of Applied Biosystems
        Awards</i>. Some of our employees, including some of our executive officers,
        were previously granted RSUs with vesting based on the performance of
        the Applied Biosystems group during our 2006 through 2009 fiscal years
        (the &#147;AB FY 06-09 RSUs&#148;). Each AB FY 06-09 RSU represents
        the right to receive one share of Applera Corporation-Applied Biosystems
        Group Common Stock (&#147;Applied Biosystems stock&#148;) pursuant
        to the Applera Corporation/Applied Biosystems Group Amended and Restated
        1999 Stock Incentive Plan (the &#147;Applera-Applied Biosystems Plan&#148;)
        at the time it vests. These RSUs generally vest in four increments of
        up to 25% of the total grant amount following the end of fiscal years
        2006, 2007, 2008, and 2009 based on the attainment of revenue objectives
        for the Applied Biosystems group previously established by the MRC for
        each of these fiscal years. At its August 17, 2006, meeting, the MRC
        determined that the highest of the 2006 fiscal year revenue objectives
        had been exceeded, such that the full 25% increment of the RSUs allocated
        to the 2006 fiscal year had vested. Accordingly, the following number
        of these RSUs vested for each of the following executive officers:</font></p>
</div>

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<td align="left"><font size="2" face="serif">Executive Officer</font></td>
<td align="left" width="2%">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">Number of Vested RSUs</font></td>
<td width="2%" align="left">&nbsp;</td> </tr>
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  </td>
<td></td>
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<td></td>
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<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">Tony L. White</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">22,200</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">Chairman, President<br>and Chief Executive Officer</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">Catherine M. Burzik</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">10,800</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">Senior Vice President and President,<br>
Applied Biosystems Group</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">Ugo D. DeBlasi</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">3,900</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">Vice President and Controller</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">Barbara J. Kerr</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">6,300</font></td>
<td align="left">&nbsp;</td>
</tr>
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<td align="left"><font size="2" face="serif">Vice President, Human Resources</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">Sandeep Nayyar</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">3,900</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Assistant Controller</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">William B. Sawch</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">7,800</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Senior Vice President and General Counsel</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">Dennis L. Winger</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">7,800</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Senior Vice President and Chief Financial Officer</font></td>
<td align="left">&nbsp;</td>
<td width="20%" align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="center">&nbsp;</td>
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<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif">Also, Dennis A. Gilbert, Ph.D.,
      a Vice President of Applera, vested in 4,800 of these RSUs granted to him
      as a result of the MRC determination. Effective as of August 17, 2006,
      Dr. Gilbert is no longer designated as one of our executive officers although
      he remains a Vice President of Applera.</font></p>
  <p align="left"><font size="2" face="serif"><i>Applied Biosystems RSU Award
        Grant. </i>At its August 17, 2006, meeting, the MRC approved the grant
        of 30,960 RSUs to Catherine M. Burzik, Senior Vice President and President,
        Applied Biosystems Group, and one of our executive officers, pursuant
        to the Applera-Applied Biosystems Plan. Each of these RSUs represents
        the right to receive one share of Applied Biosystems stock at the time
        the RSU vests. These RSUs generally vest in three increments of up to
        one-third of the total grant amount following the end of fiscal years
        2007, 2008, and 2009, based on the attainment of revenue objectives for
        the Applied Biosystems group established by the MRC for each of these
        fiscal years. However, the third increment of these RSUs, which vests
        after the end of our 2009 fiscal year, may not vest prior to August 17,
        2009. The revenue objectives for these RSUs are the same revenue objectives
        that the MRC previously approved for the AB FY 06-09 RSUs referred to
        above for fiscal years 2007, 2008, and 2009. Any of these RSUs as to
        which the vesting targets have not been attained will be forfeited. RSUs
        that have not vested will be forfeited and revert back to the Company
        upon termination of employment with the Company or a subsidiary for any
        reason, although the MRC has the discretion to modify the vesting requirements
        in some circumstances. <b><i></i></b>Prior to the vesting of these RSUs,
        Ms. Burzik will not be deemed to be the holder of, or have any of the
        rights of a holder with respect to, any shares of Applied Biosystems
        stock deliverable with respect to the RSUs.</font></p>
  <p align="left"><font size="2" face="serif"><i>Celera Genomics RSU Award Grant. </i>At
      its August 17, 2006, meeting, the MRC approved the grant of 18,000 CRA
      FY 07-09 RSUs to Kathy P. Ordo&ntilde;ez, Senior Vice President and President,
      Celera Genomics Group, and one of our executive officers. </font></p>
</div>
<p align="left"><font size="2" face="serif"><b>Performance-Based Restricted Stock Awards</b></font></p>
<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif"><i>Vesting of Awards. </i>In our
      2004 fiscal year, the MRC awarded Tony L. White, our Chairman, President
      and Chief Executive Officer, and Dennis L. Winger, our Chief Financial
      Officer, restricted shares of Applied Biosystems stock and Celera stock
      that vested in three increments of up to one-third of the total grant amount
      following the end of fiscal years 2004, 2005, and 2006, based on the attainment
      of performance goals relating to cumulative operating cash flow for the
      Company established by the MRC for each of these fiscal years. At its August
      17, 2006, meeting, the MRC determined that the Company&#146;s operating
      cash flow for fiscal year 2006 had exceeded the goals for such fiscal year
      such that full increments of shares granted in respect of performance during
      such fiscal year had vested. Accordingly, Mr. White vested in 46,332 shares
      of Applied Biosystems stock and 15,444 shares of Celera stock,
      and Mr. Winger vested in 11,584 shares of Applied Biosystems stock and
      3,862 shares of Celera stock.</font></p>
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<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif"><i>Award Grants. </i>At its August
      17, 2006, meeting, the MRC approved the grant of 134,820 restricted shares
      of Applied Biosystems stock and 57,780 restricted shares of Celera stock
      to Tony L. White and 33,705 restricted shares of Applied Biosystems stock
      and 14,445 restricted shares of Celera stock to Dennis L. Winger. Of these
      shares, up to 44,940 shares of Applied Biosystems stock and 19,260 shares
      of Celera stock awarded to Mr. White and 11,235 shares of Applied Biosystems
      stock and 4,815 shares of Celera stock awarded to Mr. Winger will vest
      following the end of fiscal years 2007, 2008, and 2009, based upon the
      attainment of performance goals relating to cumulative operating cash flow
      for the Company established by the MRC for each of these fiscal years.
      Any of the shares of restricted stock as to which the performance goals
      have not been attained will be forfeited. Shares of restricted stock that
      have not vested will be forfeited and revert back to the Company upon termination
      of employment with the Company or a subsidiary for any reason, although
      the MRC has the discretion to modify the vesting requirements in some circumstances.
      Prior to the vesting of the shares of restricted stock, Messrs. White and
      Winger have the right to receive dividends, if any, and to vote the restricted
      shares, but may not sell or otherwise dispose of these shares. </font></p>
  <p align="left"><font size="2" face="serif">At its August 17, 2006, meeting,
      the MRC approved the specific restricted stock performance goals for cumulative
      operating cash flow for the Company for fiscal year 2007. </font></p>
</div>
<p align="left"><font size="2" face="serif"><b>Time-Based Vesting Restricted Stock Awards</b></font></p>
<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif">At its August 17, 2006, meeting,
      the MRC approved the grant of 67,410 restricted shares of Applied Biosystems
      stock and 28,890 restricted shares of Celera stock to Tony L. White. These
      shares will vest as to one-third of the total grant on June 30, 2007, June
      30, 2008, and August 17, 2009, subject in each case to Mr. White being
      an employee of the Company as of the vesting date. Shares of restricted
      stock that have not vested will be forfeited and revert back to the Company
      upon termination of employment with the Company or a subsidiary for any
      reason, although the MRC has the discretion to modify the vesting requirements
      in some circumstances. Prior to the vesting of the shares of restricted
      stock, Mr. White has the right to receive dividends, if any, and to vote
      the restricted shares, but may not sell or otherwise dispose of these shares. </font></p>
</div>

<p align="left"><font size="2" face="serif"><b>Incentive Compensation Program </b></font></p>
<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif">Most employees of the Company not
      compensated on a commission basis, including the Company&#146;s executive
      officers, participate in the Company&#146;s Incentive Compensation Program
      (&#147;ICP&#148;). Awards under this program vary for each executive
      officer and are determined by multiplying: (1) the target bonus levels
      for the position, expressed as a percentage of base salary, by (2) the
      overall business performance (the &#147;business modifier&#148;), expressed
      relative to a 100% target for plan performance and which may range from
      0-150% based on actual results, by (3) the individual&#146;s performance
      (the &#147;personal modifier&#148;), expressed relative to a 100% target
      and which may range from 0-150% based on individual contribution and results.</font></p>
</div>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif"><i>The Business Modifier. </i>The
      MRC uses specific performance objectives for each business as a basis on
      which to measure annual business performance under this program. The financial
      measures used are well recognized throughout the investment community,
      and the MRC believes that achievement of these goals is directly linked
      to maximizing stockholder return.</font></p>
</div>

<table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="3%"></td>
<td width="3%">
<font size="2" face="serif">&#149;</font></td>
<td>
<font size="2" face="serif">For the Applied Biosystems group, the MRC uses EBIT (earnings before interest and taxes), revenue, cash flow, EPS (earnings per share), and the achievement of specific business goals.</font></td>
</tr>
<tr>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
</table>
<table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="3%"></td>
<td width="3%">
<font size="2" face="serif">&#149;</font></td>
<td>
<font size="2" face="serif">For the Celera Genomics group, the MRC used EBIT, cash flow, and the achievement of specific business goals for the Company&#146;s 2006 fiscal year ICP, and will use these goals and also a revenue goal for the Company&#146;s 2007 fiscal year ICP.</font></td>
</tr>
<tr>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
</table>
<table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="3%"></td>
<td width="3%">
<font size="2" face="serif">&#149;</font></td>
<td>
<font size="2" face="serif">For Corporate employees, including Mr. White and certain other executive officers, the MRC uses a combination of the performance results for the Applied Biosystems group and the Celera Genomics group.</font></td>
</tr>
</table>
<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif">At its August 17, 2006, meeting,
      the MRC approved the specific Applied Biosystems group and Celera Genomics
      group business performance objectives applicable to the 2007 fiscal year
      ICP.</font></p>
  <p align="left"><font size="2" face="serif"><i>The Personal Modifier. </i> Mr.
      White, based on his review of the performance of each executive officer
      (other than himself) over the course of the year, may propose a personal
      modifier to reflect each officer&#146;s personal performance and contribution
      to the overall business results. </font></p>
  <p align="left"><font size="2" face="serif">The MRC is responsible for final
      approval of all incentive compensation awards for executive officers, taking
      into consideration the market target bonus level, the business modifier,
      and the personal modifier. At its August 17, 2006, meeting, the MRC determined
      the business modifiers for the fiscal 2006 ICP based on actual fiscal 2006
      performance compared to the previously-approved goals, and the committee
      also approved corresponding ICP awards for members of the Company&#146;s
      Management Executive Committee. Payments under the ICP for Applera&#146;s
      2007 fiscal year will be determined after the conclusion of the fiscal
      year.</font></p>
</div>
<p align="left"><font size="2" face="serif"><b>New Executive Officer Base Salaries</b></font></p>
<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif">At its August 17, 2006, meeting,
      the MRC approved the following base salaries for members of the Company&#146;s
      Management Executive Committee for the Company&#146;s 2007 fiscal year. Also as of that
      date, Mr. White approved the fiscal year 2007 base salaries for the Company&#146;s
      other executive officers as set forth below.</font></p>
</div>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<table width="100%" cellspacing="0" cellpadding="0" align="center" border="0">
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Executive Officer</font></td>
<td align="left" width="2%">&nbsp;</td>
<td colspan="2" align="center"><font size="2" face="serif">Base Salary</font></td>
<td width="2%" align="left">&nbsp;</td> </tr>
<tr valign="top">
<td><hr align="left" width="90" size="1" noshade></td>
<td></td>
<td width="1%"><hr noshade size="1"></td>
<td width="10%"><hr noshade size="1"></td>
<td></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Management Executive Committee</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top">
<td align="left"><hr align="left" width="185" size="1" noshade></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#ffffff">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="right">&nbsp;</td>
  <td align="right">&nbsp;</td>
  <td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#ffffff">
<td align="left"><font size="2" face="serif">Tony L. White</font></td>
<td align="left">&nbsp;</td>
<td align="right"><font size="2" face="serif">$</font></td>
<td width="10%" align="right"><font size="2" face="serif"> 1,150,000</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Chairman, President and Chief Executive Officer</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Catherine M. Burzik</font></td>
<td align="left">&nbsp;</td>
<td align="right"><font size="2" face="serif">$</font></td>
<td width="10%" align="right"><font size="2" face="serif"> 680,000</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Senior Vice President and President, Applied Biosystems Group</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#ffffff">
<td align="left"><font size="2" face="serif">Barbara J. Kerr</font></td>
<td align="left">&nbsp;</td>
<td align="right"><font size="2" face="serif">$</font></td>
<td width="10%" align="right"><font size="2" face="serif"> 390,000</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Vice President, Human Resources</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Kathy P. Ordo&ntilde;ez</font></td>
<td align="left">&nbsp;</td>
<td align="right"><font size="2" face="serif">$</font></td>
<td width="10%" align="right"><font size="2" face="serif"> 567,840</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Senior Vice President and President, Celera Genomics Group</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#ffffff">
<td align="left"><font size="2" face="serif">William B. Sawch</font></td>
<td align="left">&nbsp;</td>
<td align="right"><font size="2" face="serif">$</font></td>
<td width="10%" align="right"><font size="2" face="serif"> 525,200</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Senior Vice President and General Counsel</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Dennis L. Winger</font></td>
<td align="left">&nbsp;</td>
<td align="right"><font size="2" face="serif">$</font></td>
<td width="10%" align="right"><font size="2" face="serif"> 594,880</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Senior Vice President and Chief Financial Officer</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Other Executive Officers</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top">
<td align="left"><hr align="left" width="130" size="1" noshade></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#ffffff">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="right">&nbsp;</td>
  <td align="right">&nbsp;</td>
  <td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#ffffff">
<td align="left"><font size="2" face="serif">Ugo D. DeBlasi</font></td>
<td align="left">&nbsp;</td>
<td align="right"><font size="2" face="serif">$</font></td>
<td width="10%" align="right"><font size="2" face="serif"> 287,000</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Vice President and Controller</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Sandeep Nayyar</font></td>
<td align="left">&nbsp;</td>
<td align="right"><font size="2" face="serif">$</font></td>
<td width="10%" align="right"><font size="2" face="serif"> 287,040</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">Assistant Controller</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="right">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
</tr>
</table>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<p align="center"><font size="2" face="serif"><b>SIGNATURES</b></font></p>
<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif">Pursuant to the requirements of
      the Securities Exchange Act of 1934, the registrant has duly caused this
      report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
</div>

<table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td colspan="2" align="left"><font size="2" face="serif"><b>APPLERA CORPORATION</b></font></td>
</tr>
<tr valign="top">
<td width="50%">&nbsp;</td>
<td width="4%">&nbsp;</td>
<td>&nbsp;</td> </tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="4%" align="left"><font size="2" face="serif">By: </font></td>
<td align="left"><font size="2" face="serif">/s/ Dennis L. Winger</font></td>
</tr>
<tr valign="top">
<td>&nbsp;</td>
<td width="4%">&nbsp;</td>
<td><hr size="1" noshade>
  </td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="4%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Dennis L. Winger<br>Senior Vice President and Chief Financial Officer</font></td>
</tr>
</table>
<p align="left"><font size="2" face="serif">Dated: August 23, 2006</font></p>
<hr noshade align="center" width="100%" size="2">
</body>
</html>
[{"type": "8-K", "sequence": "1", "filename": "b414674_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 42802}]
{"company-data": {"conformed-name": "APPLERA CORP", "cik": "0000077551", "assigned-sic": "3826", "irs-number": "061534213", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-04389", "film-number": "061051557"}, "business-address": {"street1": "301 MERRITT 7", "city": "NORWALK", "state": "CT", "zip": "06851", "phone": "2038402000"}, "mail-address": {"street1": "301 MERRITT 7", "city": "NORWALK", "state": "CT", "zip": "06851"}, "former-company": [{"former-conformed-name": "PE CORP", "date-changed": "19990129"}, {"former-conformed-name": "PERKIN ELMER CORP", "date-changed": "19930601"}]}
Prepared and filed by St Ives Financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.  20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
August 17, 2006
Date of report (Date of earliest
      event reported)
APPLERA
          CORPORATION
(Exact name of registrant as
      specified in its charter)
Delaware
1-4389
06-1534213
(State or other jurisdiction
of Incorporation)
(Commission
file number)
(IRS Employer
Identification No.)
301 Merritt 7
Norwalk, Connecticut
      06851
(Address of Principal Executive Offices, Including Zip Code)
(203) 840-2000
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if
    the Form 8-K filing is intended to simultaneously satisfy the filing obligation
    of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.
Entry into a Material Definitive Agreement.
New Executive Officer Hire
Joel R. Jung was hired as Vice
      President, Finance of the Celera Genomics group of Applera Corporation
      (the "Company") on August 21, 2006. At a meeting of our Board
      of Directors on August 17, 2006, Mr. Jung was elected an Assistant Controller
      of the Company and designated as one of our executive officers, effective
      upon his employment with the Company. Pursuant to the terms of employment
      offered to Mr. Jung, he receives a base annual salary of $250,000, and is entitled
      to participate in our Incentive Compensation Program and receive other
      benefits commensurate with the benefits offered to other similarly situated
      employees. We also intend to pay Mr. Jung a sign-on bonus during our current
      fiscal quarter in an amount equal to $25,000.
At a meeting of the Management
      Resources Committee (the "MRC") of the Board held on August
      17, 2006, the MRC approved the grant to Mr. Jung of options for 50,000
      shares of Applera Corporation-Celera Genomics Group Common Stock ("Celera
      stock") pursuant to the Applera Corporation/Celera Genomics Group
      Amended and Restated 1999 Stock Incentive Plan (the "Applera-Celera
      Plan"), effective upon his employment with the Company. These options
      become exercisable in four equal annual installments commencing on August
      21, 2007, the first anniversary of Mr. Jung's date of hire, and have
      a term of ten years. The exercise price for the options is $13.845 per
      share, which was the fair market value of a share of Celera stock on Mr.
      Jung's date of employment, as determined in accordance with the Applera-Celera
      Plan.
In addition, the MRC previously
      approved the grant to Mr. Jung of 19,200 restricted stock units ("RSUs")
      pursuant to the Applera-Celera Plan, effective upon his employment with
      the Company. Each of these RSUs represents the right to receive one share
      of Celera stock at the time the RSU vests. These RSUs (the "CRA FY
      07-09 RSUs") generally vest in four increments as follows:
•
an increment of up to 16.67% of the total amount following the end of fiscal year 2007, based on the attainment of revenue objectives for the Celera Genomics group established by the MRC for that year;
•
an increment of up to 16.67% of the total amount following the end of fiscal year 2008, based on the attainment of revenue objectives for the Celera Genomics group established by the MRC for that year;
•
an increment of up to 16.67% of the total amount following the end of fiscal year 2009, based on the attainment of revenue objectives for the Celera Genomics group established by the MRC for that year; and
•
an increment of up to 50% of the total amount following the end of fiscal year 2009, based on the attainment of profitability objectives for the Celera Genomics group established by the MRC for fiscal years 2008 and 2009.
However, the increments of these
      RSUs that vest after the end of our 2009 fiscal year may not vest prior
      to August 17, 2009. Any of these RSUs as to which the vesting targets have
      not been attained will be forfeited. RSUs that have not vested will be
      forfeited and revert back to the Company upon termination of employment
      with the Company or a subsidiary for any reason, although the MRC has the
      discretion to modify the vesting requirements in some circumstances. Prior
      to the vesting of the RSUs, the recipient will not be deemed to be the
      holder of, or have any of the rights of a holder with respect to, any shares
      of Celera stock deliverable with respect to the RSUs.
Performance-Based Restricted Stock Units
Vesting of Applied Biosystems
        Awards
. Some of our employees, including some of our executive officers,
        were previously granted RSUs with vesting based on the performance of
        the Applied Biosystems group during our 2006 through 2009 fiscal years
        (the "AB FY 06-09 RSUs"). Each AB FY 06-09 RSU represents
        the right to receive one share of Applera Corporation-Applied Biosystems
        Group Common Stock ("Applied Biosystems stock") pursuant
        to the Applera Corporation/Applied Biosystems Group Amended and Restated
        1999 Stock Incentive Plan (the "Applera-Applied Biosystems Plan")
        at the time it vests. These RSUs generally vest in four increments of
        up to 25% of the total grant amount following the end of fiscal years
        2006, 2007, 2008, and 2009 based on the attainment of revenue objectives
        for the Applied Biosystems group previously established by the MRC for
        each of these fiscal years. At its August 17, 2006, meeting, the MRC
        determined that the highest of the 2006 fiscal year revenue objectives
        had been exceeded, such that the full 25% increment of the RSUs allocated
        to the 2006 fiscal year had vested. Accordingly, the following number
        of these RSUs vested for each of the following executive officers:
Executive Officer
Number of Vested RSUs
Tony L. White
22,200
Chairman, President
and Chief Executive Officer
Catherine M. Burzik
10,800
Senior Vice President and President,
Applied Biosystems Group
Ugo D. DeBlasi
3,900
Vice President and Controller
Barbara J. Kerr
6,300
Vice President, Human Resources
Sandeep Nayyar
3,900
Assistant Controller
William B. Sawch
7,800
Senior Vice President and General Counsel
Dennis L. Winger
7,800
Senior Vice President and Chief Financial Officer
Also, Dennis A. Gilbert, Ph.D.,
      a Vice President of Applera, vested in 4,800 of these RSUs granted to him
      as a result of the MRC determination. Effective as of August 17, 2006,
      Dr. Gilbert is no longer designated as one of our executive officers although
      he remains a Vice President of Applera.
Applied Biosystems RSU Award
        Grant.
At its August 17, 2006, meeting, the MRC approved the grant
        of 30,960 RSUs to Catherine M. Burzik, Senior Vice President and President,
        Applied Biosystems Group, and one of our executive officers, pursuant
        to the Applera-Applied Biosystems Plan. Each of these RSUs represents
        the right to receive one share of Applied Biosystems stock at the time
        the RSU vests. These RSUs generally vest in three increments of up to
        one-third of the total grant amount following the end of fiscal years
        2007, 2008, and 2009, based on the attainment of revenue objectives for
        the Applied Biosystems group established by the MRC for each of these
        fiscal years. However, the third increment of these RSUs, which vests
        after the end of our 2009 fiscal year, may not vest prior to August 17,
        2009. The revenue objectives for these RSUs are the same revenue objectives
        that the MRC previously approved for the AB FY 06-09 RSUs referred to
        above for fiscal years 2007, 2008, and 2009. Any of these RSUs as to
        which the vesting targets have not been attained will be forfeited. RSUs
        that have not vested will be forfeited and revert back to the Company
        upon termination of employment with the Company or a subsidiary for any
        reason, although the MRC has the discretion to modify the vesting requirements
        in some circumstances.
Prior to the vesting of these RSUs,
        Ms. Burzik will not be deemed to be the holder of, or have any of the
        rights of a holder with respect to, any shares of Applied Biosystems
        stock deliverable with respect to the RSUs.
Celera Genomics RSU Award Grant.
At
      its August 17, 2006, meeting, the MRC approved the grant of 18,000 CRA
      FY 07-09 RSUs to Kathy P. Ordoñez, Senior Vice President and President,
      Celera Genomics Group, and one of our executive officers.
Performance-Based Restricted Stock Awards
Vesting of Awards.
In our
      2004 fiscal year, the MRC awarded Tony L. White, our Chairman, President
      and Chief Executive Officer, and Dennis L. Winger, our Chief Financial
      Officer, restricted shares of Applied Biosystems stock and Celera stock
      that vested in three increments of up to one-third of the total grant amount
      following the end of fiscal years 2004, 2005, and 2006, based on the attainment
      of performance goals relating to cumulative operating cash flow for the
      Company established by the MRC for each of these fiscal years. At its August
      17, 2006, meeting, the MRC determined that the Company's operating
      cash flow for fiscal year 2006 had exceeded the goals for such fiscal year
      such that full increments of shares granted in respect of performance during
      such fiscal year had vested. Accordingly, Mr. White vested in 46,332 shares
      of Applied Biosystems stock and 15,444 shares of Celera stock,
      and Mr. Winger vested in 11,584 shares of Applied Biosystems stock and
      3,862 shares of Celera stock.
Award Grants.
At its August
      17, 2006, meeting, the MRC approved the grant of 134,820 restricted shares
      of Applied Biosystems stock and 57,780 restricted shares of Celera stock
      to Tony L. White and 33,705 restricted shares of Applied Biosystems stock
      and 14,445 restricted shares of Celera stock to Dennis L. Winger. Of these
      shares, up to 44,940 shares of Applied Biosystems stock and 19,260 shares
      of Celera stock awarded to Mr. White and 11,235 shares of Applied Biosystems
      stock and 4,815 shares of Celera stock awarded to Mr. Winger will vest
      following the end of fiscal years 2007, 2008, and 2009, based upon the
      attainment of performance goals relating to cumulative operating cash flow
      for the Company established by the MRC for each of these fiscal years.
      Any of the shares of restricted stock as to which the performance goals
      have not been attained will be forfeited. Shares of restricted stock that
      have not vested will be forfeited and revert back to the Company upon termination
      of employment with the Company or a subsidiary for any reason, although
      the MRC has the discretion to modify the vesting requirements in some circumstances.
      Prior to the vesting of the shares of restricted stock, Messrs. White and
      Winger have the right to receive dividends, if any, and to vote the restricted
      shares, but may not sell or otherwise dispose of these shares.
At its August 17, 2006, meeting,
      the MRC approved the specific restricted stock performance goals for cumulative
      operating cash flow for the Company for fiscal year 2007.
Time-Based Vesting Restricted Stock Awards
At its August 17, 2006, meeting,
      the MRC approved the grant of 67,410 restricted shares of Applied Biosystems
      stock and 28,890 restricted shares of Celera stock to Tony L. White. These
      shares will vest as to one-third of the total grant on June 30, 2007, June
      30, 2008, and August 17, 2009, subject in each case to Mr. White being
      an employee of the Company as of the vesting date. Shares of restricted
      stock that have not vested will be forfeited and revert back to the Company
      upon termination of employment with the Company or a subsidiary for any
      reason, although the MRC has the discretion to modify the vesting requirements
      in some circumstances. Prior to the vesting of the shares of restricted
      stock, Mr. White has the right to receive dividends, if any, and to vote
      the restricted shares, but may not sell or otherwise dispose of these shares.
Incentive Compensation Program
Most employees of the Company not
      compensated on a commission basis, including the Company's executive
      officers, participate in the Company's Incentive Compensation Program
      ("ICP"). Awards under this program vary for each executive
      officer and are determined by multiplying: (1) the target bonus levels
      for the position, expressed as a percentage of base salary, by (2) the
      overall business performance (the "business modifier"), expressed
      relative to a 100% target for plan performance and which may range from
      0-150% based on actual results, by (3) the individual's performance
      (the "personal modifier"), expressed relative to a 100% target
      and which may range from 0-150% based on individual contribution and results.
The Business Modifier.
The
      MRC uses specific performance objectives for each business as a basis on
      which to measure annual business performance under this program. The financial
      measures used are well recognized throughout the investment community,
      and the MRC believes that achievement of these goals is directly linked
      to maximizing stockholder return.
•
For the Applied Biosystems group, the MRC uses EBIT (earnings before interest and taxes), revenue, cash flow, EPS (earnings per share), and the achievement of specific business goals.
•
For the Celera Genomics group, the MRC used EBIT, cash flow, and the achievement of specific business goals for the Company's 2006 fiscal year ICP, and will use these goals and also a revenue goal for the Company's 2007 fiscal year ICP.
•
For Corporate employees, including Mr. White and certain other executive officers, the MRC uses a combination of the performance results for the Applied Biosystems group and the Celera Genomics group.
At its August 17, 2006, meeting,
      the MRC approved the specific Applied Biosystems group and Celera Genomics
      group business performance objectives applicable to the 2007 fiscal year
      ICP.
The Personal Modifier.
Mr.
      White, based on his review of the performance of each executive officer
      (other than himself) over the course of the year, may propose a personal
      modifier to reflect each officer's personal performance and contribution
      to the overall business results.
The MRC is responsible for final
      approval of all incentive compensation awards for executive officers, taking
      into consideration the market target bonus level, the business modifier,
      and the personal modifier. At its August 17, 2006, meeting, the MRC determined
      the business modifiers for the fiscal 2006 ICP based on actual fiscal 2006
      performance compared to the previously-approved goals, and the committee
      also approved corresponding ICP awards for members of the Company's
      Management Executive Committee. Payments under the ICP for Applera's
      2007 fiscal year will be determined after the conclusion of the fiscal
      year.
New Executive Officer Base Salaries
At its August 17, 2006, meeting,
      the MRC approved the following base salaries for members of the Company's
      Management Executive Committee for the Company's 2007 fiscal year. Also as of that
      date, Mr. White approved the fiscal year 2007 base salaries for the Company's
      other executive officers as set forth below.
Executive Officer
Base Salary
Management Executive Committee
Tony L. White
$
1,150,000
Chairman, President and Chief Executive Officer
Catherine M. Burzik
$
680,000
Senior Vice President and President, Applied Biosystems Group
Barbara J. Kerr
$
390,000
Vice President, Human Resources
Kathy P. Ordoñez
$
567,840
Senior Vice President and President, Celera Genomics Group
William B. Sawch
$
525,200
Senior Vice President and General Counsel
Dennis L. Winger
$
594,880
Senior Vice President and Chief Financial Officer
Other Executive Officers
Ugo D. DeBlasi
$
287,000
Vice President and Controller
Sandeep Nayyar
$
287,040
Assistant Controller
SIGNATURES
Pursuant to the requirements of
      the Securities Exchange Act of 1934, the registrant has duly caused this
      report to be signed on its behalf by the undersigned hereunto duly authorized.
APPLERA CORPORATION
By:
/s/ Dennis L. Winger
Dennis L. Winger
Senior Vice President and Chief Financial Officer
Dated: August 23, 2006