Well companies like Emachines, Dell, HP, etc. don't want people to fry their processors by doing something dumb trying to overclock. Therefore they have special BIOS which does not allow overclocking. In order to overclock a processor, the system has to be custom built (or purchased from a high end system manufacturer......like the super expensive Alienware).
After you have the old thermal paste removed from the heatsink and the processor, you apply the new thermal paste onto the processor, just don't put too much (pea size drop is enough).