Exhibit 10.66


                           Thermo Electron Corporation
                       Summary of Annual Incentive Program


The annual incentive program ("AIP") was established to (a) motivate the
Company's officers in achieving value for the Company's stockholders and to meet
other business objectives of the Company, (b) attract and retain highly
qualified individuals, and (c) recognize individual, business unit and Company
performance and behavior consistent with the Company's values.


All officers of the Company are eligible to participate in the AIP. Each year,
the Compensation Committee selects the AIP participants for the year and
establishes a target incentive cash award amount for each such participant. This
target amount, which is a percentage of base salary, is determined by the
Compensation Committee based on the salary level and position of the participant
within the Company. The amount actually awarded to a participant varies with the
performance of either or both of the officer and the Company as a whole.
Performance is evaluated by using either or both financial measures of corporate
performance and an evaluation of the officers' qualitative contributions to the
achievement of specified business objectives of the Company.