$('applet').each(function() {
    var object = $('<object></object>');
    var self = $(this);
    var params = self.children();
    var parent = self.parent();
    var attributes = $(self[0].attributes);
    self.remove();

    attributes.each(function() {
        object.attr(self.attr('nodeName'), self.attr('nodeValue'));
    });

    if (!object.attr('type'))
        object.attr('type', 'application/x-java-applet');

    params.each(function() {
        var par = $('<param />');
        par.attr('name', $(this).attr('name'));
        par.attr('value', $(this).attr('value'));
    
        object.append(par);
        delete par;
    });

    parent.append(object);
});