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Exhibit 10(x)    
    

	Hewlett-Packard Company

3000 Hanover Street

Palo Alto, California 94304	 	Mailing Address

PO Box 10301

Palo Alto, CA 94303-0890

June 9,
2005 

Todd
Bradley

San Diego, California 

Dear
Todd, 

We
are very pleased that you are interested in joining the talented team of people at Hewlett-Packard. It's an exciting time for HP. We're becoming a leader in the Internet age. We're moving faster
than ever, focusing on bottom and top line results, and responding to the changing needs of today's customers. We're building on the strengths and assets that come from being the original Silicon
Valley start-up. Todd, we would like for you to join us, contribute to our future and help change the world. 

This
letter constitutes our offer of employment for the position of Executive Vice President, Personal Systems Group of Hewlett-Packard Company, reporting to the CEO and President, subject to election
to such title by Hewlett-Packard's Board of Directors. Additionally, you will be a member of the Executive Council. 

Your
full-time base salary will be $725,000.00 per year. In addition to your base salary, you will be eligible to participate in HP's Pay-for-Results
short-term incentive plan. Under this Plan, your targeted bonus opportunity will be equal to 125 percent of your base salary if 100 percent of the established goals are met.
You will also have an upside opportunity of up to 375 percent of base salary if HP meets its aspirational goals. The short-term bonus will be prorated for the balance of FY05 and
will be guaranteed at target for the remainder of FY05 and the first half of FY06. 

You
will receive a joining bonus payment of $1,000,000.00, fully payable upon hire (or as soon as practicable), with a payback provision should you voluntarily terminate employment within one year
from your date of hire without Good Reason or are terminated within such one year for Cause This payment will be subject to any appropriate tax withholding. 

HP
will also indemnify and hold you harmless from and against any claims, suits, judgments, losses, costs, or expenses (including reasonable legal fees) resulting from any actions taken against you by
your former employer, including but not limited to loss of cash payments otherwise due (other than the $720,000 payment due in 2006) and loss of any equity-related rights which you are entitled to
receive, (including option exercise rights and release of restricted stock under your agreements with your previous employer), as a result of your acceptance of this offer of employment with HP or
your performance of services for HP. The indemnification relating to the loss of equity-related rights shall assume that you have exercised all options prior to the earlier of the actual date of
exercise and August 15, 2005. 

We
are also pleased to offer you an HP non-qualified stock option for 400,000 shares. This option will be granted by the HR & Compensation Committee of Hewlett-Packard's Board of
Directors. The grant date will be the date the Committee meets to award these options, and the price will be the fair market value (average of the high and low of HP's share price) on that date.
Please note that the grant date cannot be earlier than your hire date. The option will vest 25 percent per year; will be fully vested in four years; and will be subject to an 8 year
term. Other terms and conditions of this grant will be governed by HP's 2004 Stock Plan, which will be provided to you when you receive your award. 

We
are also pleased to offer you 100,000 shares of HP Restricted Stock with certain time restrictions. The restricted stock will be granted by the HR & Compensation Committee of
Hewlett-Packard's Board of Directors. The grant date will be the date the Committee meets to award the restricted stock. Please note that the grant date cannot be earlier than your hire date. Assuming
that you meet all the 

 

conditions
of the grant, the restrictions on the stock will lapse 50% on the one year anniversary the grant date and the remaining 50% on the three year anniversary of the grant date. The terms and
conditions of this grant will be governed by a restricted stock agreement and by Hewlett-Packard's 2000 or 2004 Stock Plan, which will be provided to you when you receive your award. 

In
addition, you are eligible for $2,760,000.00 over the three year performance cycle, May 1, 2005 - April 30, 2008, in HP's Long-Term Performance Cash program (LTPC).
Approximately one-third of the total amount, or $920,000.00, will be eligible to be earned or "banked" each year depending on HP's performance relative to certain performance goals. Please
note, no payments occur prior to the end of the three year period under HP's LTPC. 

In
addition, we also offer you our fulll Standard Relocation Program with Housing Assistance (SRPH) with the following optional provisions: (1) Temporary Housing for up to six months, renewable
for an additional six months if necessary; will full tax gross-up so that there is no after-tax cost to you; (2) Extended time period for Home Purchasing Closing Cost
from 90 days to up to one year from hire date; (3) Extended time period for beginning Mortgage Subsidy Program from 90 days to up to one year from hire date (mortgage subsidy will
be for four years); (4) Extended Household Goods Storage up to six months, renewable for an additional six months if necessary; (5) Increase in Household Goods Shipment weight limit to
30,000 lbs; and, (6) Three month relocation allowance of $180,000.00,(standard is one month), less applicable withholding taxes. 

Hewlett
Packard has a very competitive benefits program. You will have access to a variety of savings and stock purchase plans, as well as health care insurance options to choose from. 

	•
	Employee
Benefits: Eligibility to participate in Company's benefit programs

	•
	401(k)—HP
provides a matching contribution each pay period equal to 100% of the first 3% of eligible pay you contribute, plus 50% of the next 2% of eligible pay
you contribute.

	•
	Stock
Ownership Plan—You are eligible to contribute 1% - 10% of your salary to purchase HP stock every 6 months subject to plan terms. You purchase shares
at a minimum 15% discount from the market price on the purchase date.

	•
	Health &
Welfare Plans

	•
	Retirement—HP
establishes an account for you as soon as you are eligible, and on a quarterly basis, HP allocates as a "pay credit" 4% of your eligible base pay
you earned during the quarter. Your account earns interest based on a fixed rate that is updated annually. The annualized interest rate is equal to the average yield corresponding to a
one-year Treasury security, plus 1%.

	•
	Executive
Deferred Compensation Program

	•
	Vacation—Paid
time-off in accordance with the standard Hewlett-Packard Company policy but in no event less than 20 days per year

	•
	Perquisites:
You are eligible for all executive perks on the same terms that other senior executives are entitled to receive.

	•
	Financial
Counseling

	•
	Executive
Physical 

As
a further inducement to accept employment with HP, for a period of 36 months following commencement of employment, if your employment terminates as the result of a covered event then,
subject to the applicable provisions of the American Jobs Creations Act, you will receive (in each case, as soon as administratively practicable); 

2

 

	•
	a
lump sum severance payment equal to two times your annual base pay;

	•
	a
lump sum payment equivalent to any guaranteed FY05 or FY06 bonus to the extent such bonus has not been previously paid.

	•
	a
prorated payment of any Long-Term Performance Cash awarded during a period of 36 months following commencement of employment, the amount of which will
be determined based on the actual achievement of goals under the Long-Term Performance Cash Program;

	•
	a
prorated payment of any earned Pay-for-Results bonus to the extent such bonus has not been previously paid.

	•
	a
prorated vesting of any existing restricted stock awarded during a period of 36 months following commencement of employment based on number of active months.

	•
	fifty
percent (50%) of any unvested stock options awarded during a period of 36 months following commencement of employment shall be fully vested, and you shall have
up to one year in which to exercise all options, after which time such options shall lapse; and

	•
	Financial
counseling, outplacement services and similar amounts as are typically granted to senior executives upon termination of employment. 

For
purposes of this provision, a covered event includes any termination of employment other than for Cause or termination by reason of death or total and permanent disability (within the meaning of
Internal Revenue Code Section 22(e)(3). Cause shall mean a breach by you or any term or terms of your Agreement Regarding Confidential Information and Proprietary Developments, or of any of
HP's policies (including, without limitation, HP's Standards of Business Conduct, HP's Harrassment Policy, HP's Misconduct Policy and HP's Drug-Free Workplace Policy) or of any law,
statute or regulation; or your failure or inability to perform your duties as Executive Vice President, Personal Systems Group for Hewlett-Packard Company or such duties and responsibilities as may be
reasonably assigned to you after having been given at least thirty days in which to correct such performance. To
clarify the foregoing, "Failure or inability to perform" shall be efforts based and not based on quality of performance and shall be excused if the result of a physical or mental incapacity and breach
shall mean material breach of at type that historically has resulted in termination for Cause. 

A
covered event also includes, a termination of employment initiated by you as the result of one or more of the following events (unless in the case of economic reductions such events apply generally
to all similarly situated senior managers of the Company in approximately the same proporation): 1) without your express written consent, a reduction by HP in your annualized target pay
relative to your annualized Target Pay in effect immediately prior to such reduction or 2) a substantial diminution of your responsibilities; 3) a material and adverse change in
reporting relationships, titles, or organizational assigment. 

In
return for such severance arrangement and as a condition of the receipt of those benefits, you must sign a severance agreement in a format acceptable to HP which includes a general release of all
claims and your agreement during the twelve month period following termination 1) not to render services for any organization or engage, either directly or indirectly in any business that in
the opinion of HP competes with or is in conflict with the interests of HP, and 2) not to directly or indirectly, induce, or attempt to influence any employee of HP to leave its employ. 

After
the end of such 36-month period, you shall be entitled to severence in accordance with the severence program then in effecto for senior executives of a comparable level. 

HP
will pay your reasonable legal fees incurred in connection with negotiating this agreement. Notwithstanding anything in any other agreement as to nondisclosure of confidential information, you may
comply with legal process provided you give HP prompt written notice of the receipt thereof. 

3

 

Enclosed
with this letter are current copies of the our Standards of Business Conduct and Drug-Free Workplace policies, Confidential Information and Proprietary Developments form, HP
Employee Acceptance form and the Sign-on Incentive Addendum.. Adherence to these policies, including subsequent changes, is required of all employees. 

Hewlett
Packard is committed to providing a safe and productive working environment. Therefore, if you accept our offer of employment you will be required to successfully complete an employment
background screen, which includes verification of such things as prior employment, educational and criminal conviction history. Shortly you will receive via email (or mail if email is unavailable)
information on how to initiate your background check and a document summarizing your rights under the Fair Credit Reporting Act. 

Hewlett-Packard
is committed to providing reasonable accommodations to employees with disabilities. If you need any accommodations, please let me know. 

This
offer is contingent upon commencement of employment with HP and upon your compliance with the Immigration Reform and Control Act of 1986. In essence, the act requires you to establish your
identity and employment eligibility. If you accept this offer, you will be required to complete Section 1 of the Employment Eligibility Verification Form (I-9) and present the
documents identified to a duly authorized representative of HP to be witnessed. 

Todd,
if you have any questions regarding this employment offer, please contact James Otieno at (650) 857-8961. We look forward to hearing from you and hope that you choose to join
us in our journey to reinvent HP. Please confirm your acceptance via e-mail to James at mailto:james.otieno@hp.com and me at  mailto:marcela.perez-de-alonso@hp.com. 

Sincerely, 

/s/  MARCELA PEREZ DE ALONSO     

Marcela Perez de Alonso

Executive Vice President, Human Resources 

	Cc:
	Otieno

File 

4

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Exhibit 10(y)    
    

	Hewlett-Packard Company

3000 Hanover Street

Palo Alto, California 94304	 	Mailing Address

PO Box 10301

Palo Alto, CA 94303-0890

July 11,
2005 

Randall
Mott

Austin, Texas 

Dear
Randy, 

We
are very pleased that you are interested in joining the talented team of people at Hewlett-Packard ("HP"). It's an exciting time for HP. We're becoming a leader in the Internet age. We're moving
faster than ever, focusing on bottom and top line results, and responding to the changing needs of today's customers. We're building on the strengths and assets that come from being the original
Silicon Valley start-up. Randy, we would like for you to join us, contribute to our future and help change the world. 

This
letter constitutes HP's offer of employment for the position of Executive Vice President, Chief Information Officer of HP, reporting to the CEO and President, subject to approval by HP's Board of
Directors. Additionally, you will be a member of the Executive Council. This position is at-will, subject to the severance and indemnification provisions of this agreement. 

Your
full-time base salary will be $690,000.00 per year, which will be reviewed for increase on an annual basis pursuant to HP's compensation policies. 

In
addition to your base salary, you will be eligible to participate in HP's Pay-for-Results annual incentive plan. Under this Plan, your targeted bonus will be
100 percent of your base salary, with a maximum target opportunity of 300 percent of base salary, assuming HP meets its performance goals. The actual earned annual cash incentive, if
any, payable to you for any performance period will depend upon the extent to which the applicable performance goal(s) specified by HP's HR and Compensation Committee are achieved and will be
decreased or increased for under or over performance. The short-term bonus will be prorated for the balance of fiscal year 2005. For the remainder of fiscal year 2005 as well as fiscal
year 2006, all performance goals will be deemed to have been achieved at target. 

You
will receive a joining bonus payment of $2,200,000.00, fully payable upon hire (or as soon as practicable), with a payback obligation should you voluntarily leave HP, other than in connection with
a "covered event" (as defined below), within one year from your date of hire. This payment will be subject to any appropriate tax withholding. 

You
will also be eligible for $7,000,000.00 over the three year performance cycle, May 1, 2005 - April 30, 2008, in HP's Long-Term Performance Cash program (LTPC). Two
million five hundred thousand dollars will be eligible to be earned or "banked" the first year; $2,500,000.00 the second year; and $2,000,000.00 the third year depending on HP's performance relative
to certain performance goals. The goals for the first two years of the first performance cycle are deemed to have been met and will be payable regardless of whether or not you are still employed by HP
at the conclusion of the three year period. Please note, no payments occur prior to the end of the three year period under HP's LTPC. You will be eligible to participate in future performance cycles
under the LTPC at a level commensurate with your responsibilities. 

We
are also pleased to offer you an HP non-qualified stock option for 500,000 shares. This option will be granted by the HR & Compensation Committee. The grant date will be the date
the Committee meets to award these options, and the price will be the fair market value (average of the high and low of HP's share price) on that date. Please note that the grant date cannot be
earlier than your hire date. The option will vest 25 percent per year on each one year anniversary of your date of hire; will be fully vested in four years; and will be subject to an
8 year term. Other terms and conditions of this grant will be governed by HP's 2004 Stock Plan, which will be provided to you when you receive your award. 

 

You
will also receive 285,000 shares of HP Restricted Stock with certain time restrictions. The restricted stock will be granted by the HR & Compensation Committee of HP's Board of Directors.
The grant date will be the date the Committee meets to award the restricted stock. Please note that the grant date cannot be earlier than your hire date. Assuming that you meet all the conditions of
the grant, the restrictions on the stock will lapse at a rate of 20% per year on each one year anniversary of your date of hire. The terms and conditions of this grant will be governed by a restricted
stock agreement and by HP's 2000 or 2004 Stock Plan, which will be provided to you when you receive your award. 

In
addition, you are eligible to participate in the company's annual equity programs at a level that is commensurate with your responsibilities. 

You
will also be provided with the benefits of HP's Standard Relocation Program with Housing Assistance (SRPH) with the following modifications: (1) Temporary Housing for up to six months,
renewable for an additional six months if necessary; (2) Extended time period for Home Purchasing Closing Cost from 90 days to up to one year from hire date; (3) Extended time
period for beginning Mortgage Subsidy Program from 90 days to up to one year from hire date (mortgage subsidy will be for four years); (4) Extended Household Goods Storage up to six
months, renewable for an additional six months if necessary; (5) Increase in Household Goods Shipment weight limit to 30,000 lbs; and, (6) a relocation allowance of $1,000,000.00,
less applicable withholding taxes, fully payable upon hire (or as soon as practicable). 

HP
will ensure appropriate home security protection as it does for similarly situated executives. HP will assume the maintenance of security services for your current home until you relocate. 

The
Company has a very competitive benefits program. You will have access to a variety of savings and stock purchase plans, as well as health care insurance options to choose from. 

	•
	Employee
Benefits: Eligibility to participate in Company's benefit programs

	•
	401(k)—HP
provides a matching contribution each pay period equal to 100% of the first 3% of eligible pay you contribute, plus 50% of the next 2% of eligible pay
you contribute.

	•
	Stock
Ownership Plan—You are eligible to contribute 1% - 10% of your salary to purchase HP stock every 6 months subject to plan terms. You purchase shares
at a minimum 15% discount from the market price on the purchase date.

	•
	Health &
Welfare Plans

	•
	Retirement—HP
establishes an account for you as soon as you are eligible, and on a quarterly basis, HP allocates as a "pay credit" 4% of your eligible base pay
you earned during the quarter. Your account earns interest based on a fixed rate that is updated annually. The annualized interest rate is equal to the average yield corresponding to a
one-year Treasury security, plus 1%.

	•
	Executive
Deferred Compensation Program

	•
	Vacation—Paid
time-off in accordance with the standard Hewlett-Packard Company policy but in no event less than 25 days per year

	•
	Perquisites:
You are eligible for all executive perks on the same terms that other senior executives are entitled to receive.

	•
	Financial
Counseling

	•
	Executive
Physical 

2

 

As
a further inducement to accept employment with HP, you will be eligible to participate in the then existing Severance Program for Executives.for a period of 36 months following commencement
of employment, if your employment terminates as the result of a covered event then you will receive the following: 

	•
	A
lump sum severance payment equal to one and a half times your annual base pay

	•
	A
payment equivalent to any guaranteed FY05 or FY06 bonus to the extent such bonus has not been previously paid.

	•
	A
payment of any "banked" Long-Term Performance Cash.

	•
	A
prorated payment of any earned Pay-for-Results bonus to the extent such bonus has not been previously paid.

	•
	A
prorated payment of any existing restricted stock based on number of active months.

	•
	Fifty
percent (50%) of any unvested stock options shall be fully vested, and you shall have up to one year in which to exercise the options, after which time such options
shall lapse. 

For
purposes of this provision,"cause" will have the same deined meaning as in the Severance Program for Executives. 

A
covered event includes, 1) HP's decision to terminate your employment without cause, 2) a final court order preventing you from performing the duties of the CIO position, or
3) a termination of employment initiated by you as the result of one or more of the following events (unless such events apply generally to all similarly situated senior managers of the
Company): a) without your express written consent, a reduction by HP in your annualized target pay relative to your annualized Target Pay in effect immediately prior to such reduction or
b) a substantial diminution of your responsibilities(including but not limited to not being a member of the senior most management decision making body) accompanied by a reduction in target
pay. A change in reporting relationships, titles, or organizational assignment unaccompanied by a change in pay is not deemed to be substantial diminution of responsibilities absent a reduction in
pay. 

In
return for such severance arrangement and as a condition of the receipt of those benefits, you must sign a severance agreement in a format acceptable to HP, which includes a general release of all
claims (except as to any rights you have under this agreement for severance pay and benefits, reimbursement, defense or indemnification) as well as your agreement during the twelve month period
following termination not to directly or indirectly, induce, or attempt to influence any employee of HP to leave its employ. 

HP
will defend and indemnify you (including payment of all reasonable legal fees incurred in defending any action) for any losses (including any tax implications from payment to you under this
provision) which result from your acceptance of this offer of employment with HP. This defense and indemnification obligation will remain in effect for any claims brought within five years of the
effective date of this agreement and will be subject to a maximum indemnity of eight times your annual base salary and targeted short-term bonus (but where said maximum will not include
any legal fees incurred or any other obligations related to the claim). You will also be entiteld to indemnification for any claims arising from performance of services to HP consistent with the
Company's Certificate of Incorporation and By-Laws. 

The
parties agree that if a dispute were to arise between you and HP, that any such dispute would be subject to binding arbitration in Santa Clara County, California before the Judicial Arbitration
and Mediation Services, under the American Arbitration Association's National Rules for the Resolution of Employment Disputes, as supplemented by the California Rules of Civil Procedure.  The parties hereby agree to waive their
right to have any dispute between them resolved in a court of law by a judge or  

3

 

 jury. In the event of a dispute relating to any provision of this agreement, the Company will reimburse fees and expenses as incurred quarterly, including reasonable attorneys'
fees, in connection with the dispute, provided you prevail on at least one material issue in the dispute or provided that the arbitrator does not determine that your legal positions were frivolous or
without legal foundation. In the event that you do not prevail or no such determination is made by the arbitrator, you will repay to the Company any amounts previously reimbursed by it 

The
Company will also reimburse you for reasonable legal and tax advice expenses incurred in connection with the negotiation, preparation and execution of this agreement. 

HP
is committed to providing reasonable accommodations to employees with disabilities. If you need any accommodations, please let me know. 

Enclosed
with this letter are current copies of the our Standards of Business Conduct and Drug-Free Workplace policies, Confidential Information and Proprietary Developments form, HP
Employee Acceptance form and the Sign-on Incentive Addendum.. Adherence to these policies, including subsequent changes, is required of all employees. 

HP
takes great pride in providing a safe and productive working environment. Therefore, if you accept our offer of employment you will be required to successfully complete an employment background
screen, which includes verification of such things as prior employment, educational and criminal conviction history. Shortly you will receive via email (or mail if email is unavailable) information on
how to initiate your background check and a document summarizing your rights under the Fair Credit Reporting Act. 

This
offer is contingent upon commencement of employment with HP and upon your compliance with the Immigration Reform and Control Act of 1986. In essence, the act requires you to establish your
identity and employment eligibility. If you accept this offer, you will be required to complete Section 1 of the Employment Eligibility Verification Form (I-9) and present the
documents identified to a duly authorized representative of HP to be witnessed. 

Randy,
if you have any questions regarding this employment offer, please contact James Otieno at (650) 857-8961. We look forward to hearing from you and hope that you choose to join
us in our journey to reinvent HP. Please confirm your acceptance via e-mail to James at mailto:james.otieno@hp.com and me at  mailto:marcela.perez-de-alonso@hp.com. 

Sincerely, 

/s/  MARCELA PEREZ DE ALONSO    

Marcela Perez de Alonso

Executive Vice President, Human Resources 

	Cc:
	Otieno

File 

4

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Exhibit 10(y)

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