Note : you will need to be connected to the Internet.
Check that your connexion is ok.
Save you iLife and iWork applications and your data to an external drive.
Restart the Mac, hold Cmd + r on chime.
It will boot up from the Recovery partition.
You will see this screen :
Select Disk Utility.
Select the “Macintosh HD” partition under the Macintosh HD disk.
Go to the "Erase" tab.
Erase the partition to Mac OS extended (journaled) format.
Now quit Disk Utility and click “Reinstall OS X” and wait for the ~5GB download (this will take a while…) and reinstall.
If something unclear, please ask before proceeding.
Also see :
http://support.apple.com/kb/HT4718?viewlocale=en_US&locale=en_US