Exhibit 10(q)(q)


 


 


HEWLETT-PACKARD
COMPANY


 


SERVICE ANNIVERSARY STOCK PLAN


 


 


The
following constitutes the provisions of the Service Anniversary Stock Plan
(“Plan”) of Hewlett-Packard Company (“Employer” or “Company”):


 


1.                                       PURPOSE.  The Plan is designed to recognize the
Company’s appreciation for long service to the Company by its employees.


 


2.                                       APPLICABILITY
TO PARTICIPATING SUBSIDIARIES.  A
participating subsidiary is any subsidiary or affiliated corporation of
Hewlett-Packard Company which shall be authorized to participate under the Plan
by the Board of Directors of Hewlett-Packard Company.  In the event and so long as a subsidiary corporation of
Hewlett-Packard Company is a participating subsidiary, the term “employees” as
used in the Plan shall be deemed to include the employees of such subsidiary
and the term “employer” shall be deemed to mean such subsidiary as to its
participating employees.


 


3.                                       ELIGIBILITY.  All full-time and regular part-time (20
hours or more per week on a regular schedule) employees who have completed
increments of ten years of continued service to the Employer are eligible;
provided, however, that David Packard of Hewlett-Packard Company shall not be
eligible to participate.


 


4.                                       STOCK
AWARD.  After the completion of ten,
twenty, thirty, forty, or fifty years of eligible service, an employee will be
eligible to receive a stock award consisting of ten shares of Hewlett-Packard
Company common stock.  Awards will be
made in December each year, unless altered by the Board of Directors, with
awards made to individuals who have attained the requisite service milestone or
will attain such service milestone by April 30th of the following year.


 


5.                                       CASH AWARDS IN
LIEU OF STOCK.  For subsidiary
corporations in countries where a stock award is illegal or impractical, a cash
award equivalent to the fair market value of ten shares of stock may be paid in
lieu of the stock award as determined to be appropriate by the Board of
Directors.


 


6.                                       TERMINATION OF
EMPLOYMENT PRIOR TO STOCK AWARD.  Any
otherwise eligible employee who terminates prior to the last work day of
October will not receive any award.  An
employee whose termination date is the last available work date of October or
after, but prior to the date of the December awards, will receive the award
provided that eligibility was established prior to actual termination.


 


7.                                       DECEASED
EMPLOYEES.  The beneficiary of a
deceased employee will receive any stock service award scheduled for December
provided that service eligibility was established prior to the employee’s
death, and provided further that the employee was on active pay status on the
last work day of October.


 


 

















 


8.                                       ADMINISTRATION
OF THE PLAN.  Delegation of
Authority for the Day-to-Day Administration of the Plan.  Except
to the extent prohibited by applicable law or applicable rules of a stock
exchange, the Board or any of its committees as shall be administering the Plan
may delegate to one or more individuals the day-to-day administration of the
Plan and any of the functions assigned to it in this Plan. The delegation may
be revoked at any time.


 


9.                                       MODIFICATION
AND TERMINATION.  Hewlett-Packard
Company reserves the sole and exclusive right, either as to its employees and
subsidiaries and affiliates, to terminate this Plan at any time in its entirety
or to modify the Plan from time to time by resolution of its Board of
Directors.


 


10.                                 APPLICABLE
LAW.  The interpretation, performance
and enforcement of this Plan shall be governed by the laws of the State of
California.


 


 


	
  11/20/87

  	
   

  	
  Adopted by the Board

  
	
  2/23/88

  	
   

  	
  Approved by the
  Shareholders

  
	
  7/31/89

  	
   

  	
  200,000 shares reserved and available

  
	
  10/11/89

  	
   

  	
  800,000 shares registered on S-8

  
	
  02/25/92

  	
   

  	
  500,000 shares reserved and approved by Shareholders

  
	
  4/17/95

  	
   

  	
  Two for one stock split

  
	
  7/16/96

  	
   

  	
  Two for one stock split

  
	
  10/27/00

  	
   

  	
  Two for one stock split in
  the form of a stock dividend

  
	
  11/21/02

  	
   

  	
  Section 8 amended and plan
  restated by HR & Compensation Committee