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                                                                   EXHIBIT 10.16

                               DEERE & COMPANY

                NONEMPLOYEE DIRECTOR DEFERRED COMPENSATION PLAN

                       EFFECTIVE DATE: 01 JANUARY 1997

                           REVISED:  26 MAY 1999

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                               DEERE & COMPANY

              NONEMPLOYEE DIRECTOR DEFERRED COMPENSATION PLAN

I.      PURPOSE

The purposes of the Deere & Company Nonemployee Director Deferred Compensation
Plan ("Plan") are to attract and retain highly qualified individuals to serve as
Directors of Deere & Company ("Company") and to relate Nonemployee Directors'
interests more closely to the Company's performance and its shareholders'
interests.

II.     ELIGIBILITY

Each member of the Board of Directors ("Board") of the Company who is not an
employee of the Company or any of its subsidiaries ("Nonemployee Director") is
eligible to participate in the Plan.

III.    DEFINITIONS

        (a)      COMMITTEE.   The Nominating Committee of the Board or any
                 successor committee of the Board.

        (b)      COMMON STOCK.   The publicly traded $1 par value common
                 stock of the Company or any successor.

        (c)      COMPENSATION.   Amounts payable for services as a
                 Nonemployee Director, excluding reimbursed expenses.

        (d)      DEFERRED ACCOUNT.   The bookkeeping account maintained for
                 each participating Nonemployee Director which will be
                 credited with Deferred Amounts pursuant to the terms hereof.

        (e)      DEFERRED AMOUNTS.   All amounts credited to a Nonemployee
                 Director's Deferred Account pursuant to the Plan.

        (f)      ELECTIVE DEFERRALS.   Compensation voluntarily deferred by a
                 Nonemployee Director under the Plan after 31 December 1996
                 (other than Lump-Sum Deferral defined below).

        (g)      LUMP-SUM DEFERRAL.   A one-time lump-sum amount for each
                 Nonemployee Director serving on 31 December 1996, which
                 amount is

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                 deferred under the Plan as described in Section V, below, as a
                 result of the termination of the John Deere Pension Benefit
                 Plan for Directors ("Retirement Plan").

        (h)      PARTICIPANT.   A Nonemployee Director for whom a Lump-Sum
                 Deferral occurs on the Effective Date, or who elects to
                 participate in the Plan.

        (i)      PRE-1997 ELECTIVE DEFERRALS.   Compensation deferred by a
                 Nonemployee Director prior to 1 January 1997 under the
                 predecessor Directors' Deferred Compensation Plan approved
                 30 January 1973, as amended from time to time.

        (j)      SECRETARY.  The Secretary of the Company.

IV.     EFFECTIVE DATE

The effective date of the Plan is 1 January 1997 ("Effective Date").

V.      LUMP-SUM DEFERRAL

As of the Effective Date, the Retirement Plan will be eliminated and the present
value of the life annuity offered under the Retirement Plan for each Nonemployee
Director who is both a participant in the Retirement Plan and a member of the
Board on the Effective Date will be deposited into the Deferred Account of such
Nonemployee Director.  The present value will be determined by using a discount
factor which shall be the rate for 10-year treasury stripped bonds in effect as
of 31 December 1996 and by using the 1984 Unisex Pension Mortality tables
published in the Pension Benefit Guaranty Corporation Regulation 2619, Appendix
A.

VI.     ELECTIVE DEFERRAL

        (a)      Participants may elect to defer a part or all of their
                 annual Compensation by making an irrevocable deferral
                 election in writing on a form provided by the Company and
                 delivered to the Company not later than the Company may
                 direct.  Elective Deferrals will become effective on the
                 first day of the following calendar quarter, at which time
                 they become irrevocable.  Notwithstanding the preceding
                 sentence, any person who first becomes a Nonemployee
                 Director during a calendarquarter, may elect, before his or
                 her term begins, to defer a part or all of his or her
                 compensation that would otherwise be payable to him or her
                 during the remainder of such calendar quarter and each
                 succeeding calendar quarter until such election

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                 is modified or terminated as provided herein.  A Participant
                 may discontinue deferrals, or may change his or her
                 investment choices, for future quarters by providing a
                 written election delivered to the Company not later than the
                 Company may direct.  These changes will become effective on
                 the first day of the following calendar quarter.

        (b)      If the amount of a Participant's Compensation is changed,
                 the deferral percentage and investment alternative elections
                 shall continue to be applied to the new Compensation amount
                 after the change.

VII.    DEFERRED ACCOUNT

        (a)      The Company shall establish a separate Deferred Account for
                 each Participant.

        (b)      Pre-1997 Elective Deferrals and the interest earned thereon
                 shall be credited to the Deferred Account and will continue
                 to be invested in the interest-bearing investment
                 alternative described below.

        (c)      Two investment alternatives will be available, as of the
                 Effective Date: an interest-bearing alternative and an
                 equity alternative denominated in units of Deere Common
                 Stock.  Additional investment alternatives may be added by
                 subsequent amendment of the Plan.

        (d)      At the time of Elective Deferral, Participants may direct
                 their deferrals into either investment alternative, or a
                 combination of the two, in increments of 5%.

        (e)      Deferred amounts credited into the interest-bearing
                 investment alternative will be credited with interest at the
                 end of each calendar quarter at the interest rate identified
                 in the U.S. Federal Reserve Statistical Release, "bank prime
                 loan" rate for the second month of each calendar quarter,
                 plus 2%.

        (f)      Deferred Amounts credited into the equity alternative shall
                 be expressed and credited to each Participant's Deferred
                 Account in units ("Units") determined as hereinafter
                 provided.  As of each date on which Deferred Amounts are
                 credited into the equity investment alternative, the Company
                 shall credit to such Deferred Account a number of Units and
                 fractional Units, rounded to three decimal places,
                 determined by dividing such Deferred Amounts by the Unit
                 Value (as defined below) of one share of Common Stock.  The
                 "Unit Value" of one share of Common Stock shall be the
                 closing price of the Common Stock on the New York Stock
                 Exchange

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                 on the date on which Deferred Amounts are credited to the
                 Deferred Account or a payment is to be valued under Section
                 VIII (b) below, as the case may be; or if there were no
                 sales on that day, then Unit Value shall be the closing
                 price on the New York Stock Exchange Composite Tape on the
                 most recent preceding day on which there were sales.  The
                 Lump-Sum Deferral shall be credited as of the Effective Date.

        (g)      When dividends are paid with respect to the Company's Common
                 Stock, the Company shall calculate the amount which would
                 have been payable on the Units in each Participant's
                 Deferred Account on each dividend record date as if each
                 Unit represented one issued and outstanding share of the
                 Company's Common Stock.  The applicable number of Units and
                 fractional Units equal to the amount of such dividends
                 (based on the Unit Value of one share of the Company's
                 Common Stock on the dividend payment date) shall be credited
                 to each Participant's Deferred Account.  In the event of any
                 capital stock adjustment to the Company's Common Stock or
                 other similar event, the number of Units or fractional Units
                 credited to Deferred Accounts shall be adjusted to
                 appropriately reflect such event.

        (h)      Participants credited with Units hereunder shall not have
                 any voting rights in respect thereof.

VIII.   PAYMENT OF BENEFITS

        (a)      The value of a Participant's Deferred Account shall be
                 payable solely in cash, either in (i) a lump sum, or (ii) in
                 up to ten equal annual installments, in accordance with an
                 election made by the Participant by written notice delivered
                 to the Company prior to the calendar year in which payments
                 are to be made or commence.  Such payment or payments shall
                 be made or commence, as the case may be, on the first
                 business day of the calendar year following the year of the
                 termination of service as Director.

        (b)      Any lump sum payment shall be valued as of the end of the
                 most recent calendar month prior to the payment date.  The
                 amount of each installment payment shall be determined by
                 dividing the aggregate value credited to the Participant's
                 Deferred Account (as of the end of the most recent calendar
                 month prior to the payment date) by the remaining number of
                 unpaid installments; provided, however, that the Committee
                 may, in its absolute discretion, approve any other method of
                 determining the amount of each installment payment in order
                 to achieve approximately equal installment payments over the
                 installment period.

        (c)      The Company shall have the right to deduct from all payments
                 under this

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                 Plan the amount necessary to satisfy any Federal, state, or
                 local withholding tax requirements.

        (d)      The Committee, at its sole discretion, may alter the timing
                 or manner of payment of Deferred Amounts in the event that
                 the Participant establishes, to the satisfaction of the
                 Board, severe financial hardship.  In such event, the
                 Committee may:

                 (1)      provide that all or a portion of the amount
                          previously deferred by the Participant shall be
                          paid immediately in a lump-sum cash payment;

                 (2)      provide that all or a portion of the installments
                          payable over a period of time shall be paid
                          immediately in a lump sum; or

                 (3)      provide for such other installment payment
                          schedules as it deems appropriate under the
                          circumstances.

                 It is expressly provided that the amount distributed shall
                 not be in excess of that amount which is necessary for the
                 Participant to meet the financial hardship.  Severe
                 financial hardship will be deemed to have occurred in the
                 event of the Participant's impending bankruptcy, the long
                 and serious illness of Participant or a dependent, other
                 events of similar magnitude, or the invalidation of a
                 deferral election by the Internal Revenue Service.  The
                 Committee's decision in passing on the severe financial
                 hardship of the Participant and the manner in which, if at
                 all, the payment of Deferred Amounts shall be altered or
                 modified shall be final, conclusive and not subject to
                 appeal.

IX.     DEATH OF PARTICIPANT

        (a)      In the event of the death of a Participant, any amounts
                 remaining in the Deferred Account will be paid to the
                 Participant's designated beneficiary in accordance with the
                 distribution choices (e.g., lump sum or installments)
                 elected by the Participant.  These payments will commence on
                 the first business day of the calendar year following the
                 Participant's death.  Amounts unpaid after the death of both
                 the Participant and the designated beneficiary will be paid
                 in a lump sum to the executor or administrator of the estate
                 of the last of them to die.  In the event that a Participant
                 had not properly filed a beneficiary designation with the
                 Company prior to his or her death or, in the event a
                 beneficiary predeceases the Participant, any unpaid

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                 deferrals will be paid in a lump sum to the Participant's
                 estate.

        (b)      No beneficiary hereunder shall have any right to assign,
                 alienate, pledge, hypothecate, anticipate, or in any way
                 create a lien upon any part of this Plan, nor shall the
                 interest of any beneficiary or any distributions due or
                 accruing to such beneficiary be liable in any way for the
                 debts, defaults, or obligations of such beneficiary, whether
                 such obligations arise out of contract or tort.

X.      CHANGE OF CONTROL

The following acceleration and valuation provisions shall apply in the event of
a "Change of Control" or "Potential Change of Control," as defined in this
Section X.

        (a)      In the event that:

                 (i)      a "Change of Control" as defined in paragraph (b) of
                          this Section X occurs; or

                 (ii)     a "Potential Change of Control" as defined in
                          paragraph (c) of this Section X occurs and the
                          Committee or the Board determines that the
                          provisions of this paragraph (a) should be invoked;

                 then, unless otherwise determined by the Committee or the
                 Board in writing prior to the occurrence of such Change of
                 Control, the value of all Units credited to a Participant's
                 Deferred Account shall be converted to cash based on the
                 "Change of Control Price" (as defined in paragraph X(d)) and
                 the aggregate amount credited to the Participant's Deferred
                 Account under the Plan shall be paid in one lump-sum payment
                 as soon as practicable following the date the Change of
                 Control or Potential Change of Control occurs, but in no
                 event more than 90 days after such date.

        (b)      For purposes of paragraph (a) of this Section X, a "Change
                 of Control" means a change in control of a nature that would
                 be required to be reported in response to Schedule 14A of
                 Regulation 14A promulgated under the Securities Exchange Act
                 of 1934 ("Exchange Act") whether or not the Company is then
                 subject to such reporting requirement, provided that,
                 without limitation, such a Change of Control shall be deemed
                 to have occurred if:

                 (i)      any "person" (as defined in Sections 13(d) and
                          14(d) of the

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                          Exchange Act), other than a Participant in the Plan
                          or group of Participants in the Plan, is or becomes
                          the "beneficial owner" (as defined in Rule 13(d)(3)
                          under the Exchange Act), directly or indirectly, of
                          securities of the Company representing 30% or more
                          of the combined voting power of the Company's then
                          outstanding securities;

                 (ii)     during any period of two consecutive years, there
                          shall cease to be a majority of the Board comprised
                          as follows: individuals who at the beginning of
                          such period constitute the Board and any new
                          director(s) whose election by the Board or
                          nomination for election by the Company's
                          stockholders was approved by a vote of at least _
                          of the directors then still in office who either
                          were directors at the beginning of the period or
                          whose election or nomination for election was
                          previously so approved;

                 (iii)    the shareholders of the Company approve a merger or
                          consolidation of the Company with any other
                          company, other than a merger or consolidation which
                          would result in the voting securities of the
                          Company outstanding immediately prior thereto
                          continuing to represent (either by remaining
                          outstanding or by being converted into voting
                          securities of the surviving entity) at least 80% of
                          the combined voting power of the voting securities
                          of the Company or such surviving entity outstanding
                          immediately after such merger of consolidation; or

                 (iv)     the shareholders of the Company approve a plan of
                          complete liquidation of the Company or an agreement
                          for the sale or disposition by the Company of all
                          or substantially all of the Company's assets.

        (c)      For purposes of paragraph (a) of this Section X, a "Potential
                 Change of Control" means the happening of any of the
                 following:

                 (i)      the entering into an agreement by the Company
                          (other than with a Participant in the Plan or group
                          of Participants in the Plan), the consummation of
                          which would result in a Change of Control of the
                          Company as defined in paragraph (b) of this Section
                          X; or

                 (ii)     the acquisition of beneficial ownership, directly
                          or indirectly, by any entity, person or group
                          (other than a Participant or group of Participants,
                          the Company or a majority owned subsidiary of the
                          Company, or any of the Company's employee benefit
                          plans including its trustee) of securities of the
                          Company representing 5%  or more of the combined
                          voting power of the Company's

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                          outstanding securities and the adoption by the
                          Board of a resolution to the effect that a
                          Potential Change of Control of the Company has
                          occurred for purposes of the Plan.

        (d)      For purposes of this Section X, "Change of Control Price"
                 means the highest price per share of the Common Stock paid
                 in any transaction reported on the New York Stock Exchange
                 Composite Tape, or offered in any transaction related to a
                 Potential or actual Change of Control of the Company at:

                 (i)      the date the Change of Control occurs;

                 (ii)     the date the Potential Change of Control is
                          determined to have occurred; or

                 (iii)    such other date as the Committee may determine
                          before the Change of Control occurs, or before or
                          at the time the Potential Change of Control is
                          determined to have occurred or the Committee or the
                          Board determines that the provisions of paragraph
                          X(a) shall be invoked, or at any time selected by
                          the Committee during the 60 day period preceding
                          such date.

        (e)      Notwithstanding anything to the contrary in the Plan, in the
                 event of a Change of Control (i) the Plan may not be amended
                 to reduce the formulas contained in paragraph VII(e) which
                 determine the rate at which amounts equivalent to interest
                 accrue with respect to cash amounts credited to a
                 Participant's Deferred Account, including cash amounts
                 attributable to the conversion of Units in a Participant's
                 Deferred Account pursuant to paragraph X(a), and (ii) the
                 successor Plan Administrator referred to in paragraph XI(d)
                 shall determine the rates under the interest formulas
                 contained in paragraph VII(e).

XI.     MISCELLANEOUS

        (a)      The right of a Participant to receive any amount credited to
                 the Participant's Deferred Account shall not be transferable
                 or assignable by the Participant, in whole or in part,
                 either directly or by operation of law or otherwise,
                 including, but not by way of limitation, execution, levy,
                 garnishment, attachment, pledge, bankruptcy, or in any other
                 manner, and no right or interest established herein shall be
                 liable for, or subject to, any obligation or liability of
                 the Participant, except by will or by the laws of descent
                 and distribution.  To the extent that any person acquires a
                 right to receive any amount credited to a Participant's
                 Deferred Account hereunder, such right shall be no greater
                 than that of an unsecured

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                 general creditor of the Company.  Except as expressly
                 provided herein, any person having an interest in any amount
                 credited to a Participant's Deferred Account under the Plan
                 shall not be entitled to payment until the date the amount
                 is due and payable.  No person shall be entitled to
                 anticipate any payment by assignment, alienation, sale,
                 pledge, encumbrance or transfer in any form or manner prior
                 to actual or constructive receipt thereof.

        (b)      The amounts credited to the Deferred Account shall constitute
                 an unsecured claim against the general funds of the Company.
                  The Company shall not be required to reserve or otherwise
                 set aside funds or shares of Common Stock for the payment of
                 its obligations hereunder.  The Plan is unfunded, and the
                 Company will make Plan benefit payments solely from the
                 general assets of the Company as benefit payments come due
                 from time to time.

        (c)      Except as herein provided, this Plan shall be binding upon
                 the parties hereto, their designated beneficiaries, heirs,
                 executors, administrators, successors (including but not
                 limited to successors resulting from any corporate merger,
                 purchase, consolidation or otherwise of all or substantially
                 all of the business or assets of the Company) or assigns.

        (d)      In the event of a Change in Control, the Committee shall
                 interpret the Plan and make all determinations, construe any
                 ambiguity, supply any omission, and reconcile any
                 inconsistency, deemed necessary or desirable for the Plan's
                 implementation.  The determination of the Committee shall be
                 conclusive.  The Committee may obtain such advice or
                 assistance as it deems appropriate from persons not serving
                 on the Committee.  The Secretary or other appropriate
                 officer of the Company shall, in the event of any Change in
                 Control, name as successor Plan Administrator any person or
                 entity (including, without limitation, a bank or trust
                 company).  Following a Change in Control, the successor Plan
                 Administrator shall interpret the Plan and make all
                 determinations deemed necessary or desirable for the Plan's
                 implementation.  The determination of the successor Plan
                 Administrator shall be conclusive.  The Company shall
                 provide the successor Plan Administrator with such records
                 and information as are necessary for the proper
                 administration of the Plan.  The successor Plan
                 Administrator shall rely on such records and other
                 information as the successor Plan Administrator shall in its
                 judgment deem necessary or appropriate in determining the
                 eligibility of a Participant and the amount payable to a
                 Participant under the Plan.

        (e)      The Board, upon recommendation of the Committee, may at any
                 time amend or terminate the Plan provided that no amendment
                 or termination shall impair the rights of a Participant with
                 respect to amounts then credited to the Participant's
                 Deferred Account, except with his or her consent.

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        (f)      Each Participant will receive a quarterly statement
                 indicating the amounts credited to the Participant's
                 Deferred Account as of the end of the preceding calendar
                 quarter.

        (g)      If adjustments are made to outstanding shares of Common Stock
                 as a result of stock dividends, stock splits,
                 recapitalizations, reorganizations, mergers, consolidations
                 and other changes in the corporate structure of the Company
                 affecting the Common Stock, an appropriate adjustment will
                 also be made in the number of Units credited to the
                 Participant's Deferred Account.

        (h)      This Plan and all elections hereunder shall be construed in
                 accordance with and governed by the laws of the State of
                 Illinois.

        (i)      Except where otherwise indicated by the context, any term
                 used herein connoting gender also shall include both the
                 masculine and feminine; the plural shall include the
                 singular, and the singular shall include the plural.

        (j)      In the event any provision of the Plan shall be held illegal
                 or invalid for any reason, the illegality or invalidity
                 shall not affect the remaining parts of the Plan, and the
                 Plan shall be construed and enforced as if the illegal or
                 invalid provision had not been included.

        (k)      Nothing in the Plan shall be deemed to create any obligation
                 on the part of the Board to nominate any Nonemployee
                 Director for reelection by the Company's shareholders, or
                 rights to any benefits not specifically provided by the Plan.

        (l)      The crediting of Units and the payment of cash under the
                 Plan shall be subject to all applicable laws, rules, and
                 regulations, and to such approvals by any governmental
                 agencies as may be required.

        (m)      The Company may impose such other restrictions on any Units
                 credited pursuant to the Plan as it may deem advisable
                 including, without limitation, restrictions intended to
                 achieve compliance with the Securities Act of 1933, as
                 amended, Section 16 of the Securities Exchange Act of 1934,
                 as amended, with the requirements of any stock exchange upon
                 which Common Stock is listed, and with any blue sky or other
                 securities laws applicable to such Units.

        (n)      With respect to any Participants subject to Section 16 of
                 the Securities Exchange Act, transactions under the Plan are
                 intended to comply with all applicable conditions of Rule
                 16b-3 or its successors.  To the extent any provision of the
                 Plan or action by the Board fails to so comply, it shall be
                 deemed null and void to the extent permitted by law and
                 deemed advisable by the Board.

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                                                                    EXHIBIT 10.6

                             AGILENT TECHNOLOGIES, INC.

                        EXECUTIVE DEFERRED COMPENSATION PLAN
                   (AMENDED AND RESTATED AS OF DECEMBER 3, 1999)

Section 1.  ESTABLISHMENT AND PURPOSE OF PLAN.

     The Agilent Technologies, Inc. Executive Deferred Compensation Plan
provides deferred compensation for a select group of management or highly
compensated employees as established in Title I of ERISA.  The Plan is intended
to be an unfunded and unsecured deferred compensation arrangement between the
Participant and Agilent, in which the Participant agrees to give up a portion of
the Participant's current compensation in exchange for Agilent's unfunded and
unsecured promise to make a payment at a future date, as specified in Section 6.
Agilent retains the right, as provided in Section 14, to amend or terminate the
Plan at any time. Certain capitalized words used in the text of the Plan are
defined in Section 21 in alphabetical order.

Section 2.  PARTICIPATION IN THE PLAN.

     2.1   PARTICIPATION IN GENERAL.  Employees on the U.S. payroll of Agilent
are eligible to defer Base Pay or Bonus under the Plan if they have Base Pay, at
the time of election as specified in Section 3, equal to or in excess of the sum
of (1) the amount defined in Code section 40l(a)(17), as adjusted by the
Secretary of the Treasury under Code section 415(d), in effect on January 1 of
the calendar year for which amounts are to be deferred, plus (2) $6,000.

     2.2   TRANSITION PERIOD PARTICIPATION.  Any Participant in HP's or
Agilent's Plan who, during the Transition Period, changes employment to the
other of such companies, shall commence participation in the company's Plan to
which the employee transfers.  All existing Deferral Accounts, deferral
elections, beneficiary designations, and any other documentation or information
on file with the Plan in which the employee participated at the former employing
company shall be treated as accounts, elections, designations, documentation or
information relating to the Plan of the new employing company.

Section 3.  TIMING AND AMOUNTS OF DEFERRED COMPENSATION.

     Eligible Employees shall make elections to participate in the Plan, as
follows:

     3.1   TIMING OF BASE PAY DEFERRAL.  With respect to a deferral of Base Pay,
an election to participate must be made prior to December 16 - or such earlier
date established by the Committee - of the calendar year preceding the calendar
year with respect to which an election to defer Base Pay is made, in accordance
with any procedures established by the Committee.

     3.2   AMOUNT OF BASE PAY DEFERRAL.  Once an election is made by an Eligible
Employee, an annual whole dollar amount will be deferred from Base Pay, taken
equally over the twenty-four (24) pay periods falling within the calendar year
to which the election pertains.  The minimum amount of Base Pay that may be
deferred is $6,000 per calendar year.  The maximum amount of Base Pay which may
be deferred each calendar year is equal to the amount of Base Pay exceeding the
amount defined in Code section 401(a)(17), as adjusted by the Secretary of the
Treasury under Code section 415(d), in effect on January 1 of the calendar year
to which the deferral election pertains.

     3.3   TIMING OF BONUS DEFERRAL.  Participants must make an election to
defer an H1 Bonus and/or H2 Bonus before December 16 - or such earlier date
established by the Committee - of the calendar year ending within the fiscal
year to which the H1 and H2 Bonuses pertain, in accordance with any procedures
established by the Committee.  Notwithstanding the foregoing, an election to
defer an H2 Bonus

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may be amended or revoked at any time prior to the commencement of the
Performance Period to which the H2 Bonus relates, in accordance with any
procedures established by the Committee.

     3.4   AMOUNT OF BONUS DEFERRAL.   An Eligible Employee may defer any
portion, up to 100%, of any H1 or H2 Bonus to which he or she may become
entitled, so long as the deferral amount is expressed in terms of a whole
percentage point.  Once an election is made by an Eligible Employee to defer any
portion or all of a Bonus, the appropriate dollar amount will be withheld from
the Bonus when this amount has been certified by the Committee in accordance
with the PFR Plan.

     3.5   EFFECT OF TAXES ON MAXIMUM DEFERRALS.  Notwithstanding any provision
herein to the contrary, and to the extent consistent with the terms of the PFR
Plan, the Company may withhold Taxes from any cash payment made under the Plan
or PFR Plan, owing as a result of any deferral or payment hereunder, as the
Company deems appropriate in its sole discretion.  If, with respect to the pay
period within which a deferral, payment or Bonus is made under the Plan or PFR
Plan, the Participant receives insufficient actual cash compensation to cover
such Taxes, then the Company may withhold any remaining Taxes owing from the
Participant's subsequent cash compensation received, until such Tax obligation
is satisfied.

SECTION 4.  DEFERRAL ACCOUNTS.

     4.1   CREDITING IN GENERAL.  Amounts deferred pursuant to Section 3 shall
be credited to a Deferral Account in the name of the Participant.  Each Deferred
Account shall be a bookkeeping entry of Agilent.  Deferred Amounts arising from
deferrals of Base Pay shall be credited to a Deferral Account at least
quarterly.  Deferrals resulting from amounts credited to a Participant's
Deferral Account from the deferral of Bonuses shall be credited to a Deferral
Account as soon as practicable after the Committee has certified the amount of
an Bonus in writing, pursuant to the provisions of the PFR Plan.  The
Participant's rights in the Deferral Account shall be no greater than the rights
of any other unsecured general creditor of Agilent.  Deferred Amounts and
Earnings thereon invested hereunder shall for all purposes be part of the
general funds of Agilent.  Any payout to a Participant of amounts credited to a
Participant's Deferral Account is not due, nor are such amounts ascertainable,
until the Payout Commencement Date.

     4.2   HEWLETT-PACKARD COMPANY OFFICERS EARLY RETIREMENT PLAN DEFERRALS.  A
Deferral Account may be created or credited pursuant to the termination of the
Hewlett-Packard Company Officers Early Retirement (OER) Plan, as restated
effective October 31, 1999.  Except as otherwise provided in this Section 4.2,
an OER Deferral shall be forfeited in full, if the Termination Date of a
Rollover Participant for whom the OER Deferral was created or credited occurs
prior to April 1, 2001.  Notwithstanding the foregoing, the OER Deferral of a
Rollover Participant shall not be forfeited due to his or her Termination Date
occurring prior to April 1, 2001, if the Rollover Participant has attained the
age of 58 on or before March 31, 1999.

     4.3   CERTAIN TRANSITION PERIOD DEFERRAL ACCOUNTS.  With respect to an
employee who becomes a Plan participant during the Transition Period, as
described in Section 2.2, a Deferral Account shall be created for such a new
Participant as soon as practicable after the employee becomes an Agilent
employee, in an initial amount equal to the employee's total cumulative Plan
Deferral Account as of the date on which he or she changes employment, with
Earnings thereon determined on a pro rata basis.  All deferrals - and any
Earnings thereon - arising after the date on which the employee changes
employment, shall be credited to such employee's Deferral Account in a fashion
consistent with the provisions of this Plan.

SECTION 5.  EARNINGS ON THE DEFERRAL ACCOUNT

     Amounts in a Participant's Deferral Account will be credited at least
quarterly with Earnings until such amounts are paid out to the Participant under
this Plan as set forth in Section 6.   All Earnings attributable to the Deferral
Account shall be added to the liability of and retained therein by Agilent.  Any
such addition to the liability shall be appropriately reflected on the books and
records of Agilent and identified as an addition to the total sum owing the
Participant.  The Deferral Account of a Rollover Participant shall be credited
with Earnings at the same time and accounted for in the same manner as the

<PAGE>

Deferral Account of a Participant (regardless of the Rollover Participant's
eligibility to participate in the Plan), pro-rated to reflect the date on which
the deferral account from a Rollover Plan is transferred into the Plan.

SECTION 6.  PAYOUT TO THE PARTICIPANTS.

     6.1   TERMINATION AFTER RETIREMENT DATE.  If a Participant's Termination
Date is on or after his or her Retirement Date, an election as to the form and
commencement of benefit may be made in accordance with this Section 6.1.  An
election under this section is only valid if made before the date which is at
least twelve (12) months prior to the Participant's Termination Date, and on or
before the last day of the calendar year preceding the Termination Year.

           6.1.1    FORM OF PAYOUT.  A Participant making a valid election under
this Section 6.1 may elect to receive either (a) a single lump sum payout by
January 15 of the year following the Termination Year, or (b) a payout in annual
installments over a five (5) to fifteen (15) year period beginning with the
January 15 following the Termination Year.

           6.1.2    COMMENCEMENT OF PAYOUT.  A Participant making a valid
election under this Section 6.1 may elect to further defer the Payout
Commencement Date, under either the single lump sum or the annual installment
election addressed in Section 6.1.1, by an additional one (1), two (2) or three
(3) years beginning after the January 15 following the Termination Year.

           6.1.3    EARNINGS ON DEFERRAL ACCOUNTS.  Whatever the form of payout
under Section 6, and whatever the timing of the Payout Commencement Date, the
Deferral Account of a Participant shall continue to be credited with Earnings
until all amounts in such an account are paid out to the Participant.

     6.2   DEFAULT FORM AND COMMENCEMENT OF PAYOUT.  If a Participant's
Termination Date is on or after his or her Retirement Date and a valid election
under Section 6.1 is not made, the Participant shall receive his or her payout
in annual installments over the fifteen (15) year period beginning with the
January 15 following the Termination Year.

     6.3   DEATH OF PARTICIPANT.  If a Participant dies and an election was made
under Section 6.1, the Beneficiary will be paid according to the election even
though the election was not made twelve (12) months or more prior to the
Participant's death.  If the Participant dies and no election was made, then the
Beneficiary will receive the payout in annual installments over the fifteen (15)
year period beginning with the January 15 in the calendar year following the
year of the Participant's death.

     6.4   TERMINATION PRIOR TO RETIREMENT DATE.  If the Participant's
Termination Date precedes his or her Retirement Date, then the Participant will
receive a single lump sum payout as soon as practicable after the Termination
Date.

     6.5   COMMITTEE DISCRETION.  Notwithstanding anything in this Section 6 to
the contrary, the Committee shall have the discretion to modify the availability
and timing of a valid election under Section 6.1, and the timing, form and
amount (e.g., payouts affected by a forfeiture under Section 4.2) of any payout,
in any manner it deems appropriate; provided, however, that any alteration with
respect to a Covered Officer must be consistent with the requirements for
deductibility of compensation under section 162(m) of the Code.

     6.6   TRANSITION PERIOD TRANSFERS.  Notwithstanding anything within this
Section 6 to the contrary, a transfer of a Participant's employment between
Agilent and HP prior to the Distribution Date shall not be considered a
termination of employment nor trigger a Termination Date for purposes of
applying the provisions of this section.  Rather, the employee shall continue
his or her participation in the HP Plan or Agilent Plan as provided in Sections
2.2 and 4.3 of this Plan and the HP Plan.

<PAGE>

Section 7.  HARDSHIP PROVISION.

     7.1   UNFORESEEABLE EMERGENCIES.  Neither the Participant nor his or her
Beneficiary is eligible to withdraw amounts credited to a Deferral Account prior
to the time specified in Section 6.    However, such credited amounts may be
subject to early withdrawal if an unforeseeable emergency occurs that is caused
by an event beyond the Participant's or Beneficiary's control and would result
in severe financial hardship to the individual if early withdrawal is not
permitted.  A severe financial hardship exists only when all other reasonably
available financial resources have been exhausted.   The Committee shall have
sole discretion to determine whether to approve any hardship withdrawal, which
amount will be limited to the amount necessary to meet the emergency.    The
Committee's decision is final and binding on all interested parties.

     7.2   WAITING PERIOD.  If the Committee approves a hardship withdrawal, the
Participant (1) may not defer Base Pay or Bonuses, as specified in Section 3,
for the remainder of the calendar year in which the hardship withdrawal is
received, and (2) may not participate in the deferral election which relates to
the next succeeding calendar year (with respect to deferrals of Base Pay), and
to both the H1 and H2 Bonuses arising from the next succeeding fiscal year.

Section 8.  OTHER ACCESS TO CREDITED AMOUNTS.

     8.1   UNANTICIPATED NEEDS.  Neither the Participant nor his or her
Beneficiary is eligible to withdraw amounts credited to a Deferral Account prior
to the time specified in Section 6.  However, such credited amounts may be
subject to early withdrawal if an unanticipated need for funds occurs, other
than a need specified in Section 7; provided, however, that the Participant
permanently forfeits ten percent (10%) of the amount to be withdrawn.
Additionally, withdrawals based on an unanticipated need for funds may be made
no more than once each calendar year and the amount to be withdrawn must be at
least $12,000.

     8.2   WAITING PERIOD.  If the Participant withdraws amounts credited to a
Deferral Account under this section, he or she (1) may not defer Base Pay or
Bonuses, as specified in Section 3, for the remainder of the calendar year in
which the withdrawal is received, and (2) may not participate in the deferral
election which relates to the next succeeding calendar year (with respect to
deferrals of Base Pay), and to both the H1 and H2 Bonuses arising from the next
succeeding fiscal year.

Section 9.  DESIGNATION OF BENEFICIARY.

     The Participant shall, by written notice to Agilent,  (1) designate a
Beneficiary hereunder, and (2) shall have the right thereafter to change such
designation. Notwithstanding the foregoing, with respect to an employee who
becomes a Plan Participant during the Transition Period, as described in Section
2.2, all existing beneficiary designations on file with the HP Plan shall be
deemed and treated as designations under this Plan.  In the case of a
Participant's death, payment due under this Plan shall be made to the designated
Beneficiary or, in the absence of such designation, by will or the laws of
descent and distribution in the state of residence of the Participant.

Section 10.  CHANGE IN CONTROL.

     10.1  DISCRETION TO ACCELERATE.  In the event of a proposed change in
control of Agilent, as defined below, the Committee shall have complete
authority and discretion, but no obligation, to accelerate payments of both
terminated and active Participants.

     10.2  PROPOSED CHANGE IN CONTROL.  A "proposed change in control" shall
mean (1) a tender offer by any person or entity, other than Agilent or an
Agilent subsidiary, to acquire securities representing 40 percent or more of the
voting power of Agilent or (2) the submission to Agilent's shareholders for
approval of a transaction involving the sale of all or substantially all of the
assets of Agilent or a merger of Agilent with or into another corporation.
Notwithstanding the foregoing, neither the initial public offering

<PAGE>

of voting common stock in Agilent, nor the distribution by HP of shares of
Agilent voting common stock in a transaction which qualifies under Section 355
of the Code, shall constitute a "proposed change in control" for purposes of
this Section 10.

     10.3  REQUEST FOR NEGOTIATION.  The Committee may also ask the Board of
Directors to negotiate, as part of any agreement involving the sale or merger of
Agilent, or a sale of substantially all of Agilent's assets or a similar
transaction, terms providing for protection of Participants and their interests
in the Plan.

Section 11.  LIMITATION ON ASSIGNMENTS.

     Benefits under this Plan are not subject to anticipation, alienation, sale,
transfer, assignment, pledge, encumbrance, attachment or garnishments by
creditors of the Participant or the Participant's Beneficiary and any attempt to
do so shall be void.

Section 12.  ADMINISTRATION.

     12.1  ADMINISTRATION BY COMMITTEE.  The Plan shall be administered by the
Committee.  No member of the Committee shall become a Participant of the Plan.
The Committee shall have the sole authority to interpret the Plan, to establish
and revise rules and regulations relating to the Plan and to make any other
determinations that it believes necessary or advisable for the administration of
the Plan. Decisions and determination by the Committee shall be final and
binding upon all parties, including shareholders, Participants, Beneficiaries
and other employees.  The Committee may delegate its administrative
responsibilities, as it deems appropriate.

     12.2  BOOKS AND RECORDS.  Books and records maintained for the purpose of
the Plan shall be maintained by the officers and employees of Agilent at its
expense and subject to supervision and control of the Committee.

Section 13.  NO FUNDING OBLIGATION.

     Agilent is under no obligation to transfer amounts credited to the
Participant's Deferral Account to any trust or escrow account, and Agilent is
under no obligation to secure any amount credited to a Participant's Deferral
Account by any specific assets of Agilent or any other asset in which Agilent
has an interest.  This Plan shall not be construed to require Agilent to fund
any of the benefits provided hereunder nor to establish a trust for such purpose
Agilent may make such arrangements as it desires to provide for the payment of
benefits, including, but not limited to, the establishment of a rabbi trust or
such other equivalent arrangements as Agilent may decide.  No such arrangement
shall cause the Plan to be a funded plan within the meaning of Title I of ERISA,
nor shall any such arrangement change the nature of the obligation of Agilent
nor the rights of the Participants under the Plan as provided in this document.
Neither the Participant nor his or her estate shall have any rights against
Agilent with respect to any portion of the Deferral Account except as a general
unsecured creditor.  No Participant has an interest in his or her Deferral
Account until the Participant actually receives the deferred payment.

SECTION 14.   AMENDMENT AND TERMINATION OF THE PLAN.

     Agilent, by action of the Committee, in its sole discretion may suspend or
terminate the Plan or revise or amend it in any respect whatsoever; provided,
however, that amounts already credited to Deferral Accounts will continue to be
owed to the Participants or Beneficiaries and will continue to accrue Earnings
and continue to be a liability of Agilent.  Any amendment or termination of the
Plan will not affect the entitlement of any Participant or the Beneficiary of a
Participant who terminates employment before the amendment or termination.  All
benefits to which any Participant or Beneficiary may be entitled shall be
determined under the Plan as in effect at the time the Participant terminates
employment and shall not be affected by any subsequent change in the provisions
of the Plan; provided, however, that Agilent reserves the right to change the
basis of return on investment of the Deferral Account with respect to any
Participant

<PAGE>

or Beneficiary.  Participants or Beneficiaries will be given notice prior to the
discontinuance of the Plan or reduction of any benefits provided by the Plan.

SECTION 15.  TAX WITHHOLDING.

     If Agilent concludes that Tax is owing with respect to any deferral of
income or payment hereunder, Agilent shall withhold such amounts from any
payments due the Participant, or otherwise make appropriate arrangements with
the Participant or his or her Beneficiary for satisfaction of such obligation.

SECTION 16.  CHOICE OF LAW.

     This Plan, and all rights under this Plan, shall be interpreted and
construed in accordance with ERISA and, to the extent not preempted, the law of
the State of Delaware, unless otherwise stated in the Plan.

SECTION 17.  NOTICE.

     Any written notice to Agilent required by any of the provisions of this
Plan shall be addressed to the chief personnel officer of Agilent or his or her
delegate and shall become effective when it is received.

SECTION 18.  NO EMPLOYMENT RIGHTS.

     Nothing in the Plan, nor any action of Agilent pursuant to the Plan, shall
be deemed to give any person any right to remain in the employ of Agilent or
affect the right of Agilent to terminate a person's employment at any time, with
or without cause.

SECTION 19.  ROLLOVERS FROM OTHER PLANS.

     19.1  DISCRETION TO ACCEPT.  The Committee shall have complete authority
and discretion, but no obligation, to allow the Plan to create Deferral Accounts
for Rollover Participants and credit such accounts with amounts to reflect the
Rollover Participant's deferral account in a Rollover Plan.  The amounts
credited to such Deferral Accounts are fully subject to the provisions of this
Plan.  Reference in the Plan to such a crediting as a "rollover" or "transfer"
of assets from a Rollover Plan is nominal in nature, and confers no additional
rights upon a Rollover Participant other than those specifically set forth in
the Plan.

     19.2  STATUS OF ROLLOVER PARTICIPANTS.  A Rollover Participant and his or
her Beneficiary are fully subject to the provisions of this Plan, except as
otherwise expressly set forth herein.  A Rollover Participant who is not already
a Participant in the Plan and is not otherwise eligible to participate in the
Plan at the time of rollover, shall not be entitled to make any additional
deferrals under the Plan unless and until he or she has becomes an Eligible
Employee under the terms of the Plan.

     19.3  PAYMENT TO ROLLOVER PARTICIPANTS.  If at the time of rollover or
transfer, payments from a Rollover Participant's account in a Rollover Plan have
already commenced from a Rollover Plan, he or she shall continue to receive such
payments in accordance with the form and timing of payment provisions of such
plan.  If a Rollover Participant is not yet eligible to receive payments from
the Rollover Plan at the time of the rollover or transfer, he or she is bound by
the payout provisions of this Plan.

SECTION 20.  CODE SECTION 162(m).

     With respect to Covered Employees, this Plan is designed to satisfy the
special requirements for performance-based compensation set forth in Section
162(m)(4)(C) of the Code, and the Plan shall be so construed.  Furthermore, if a
provision of the Plan as it relates to a Covered Officer causes a deferral or
payment to fail to satisfy these special requirements, the Plan shall be deemed
amended to satisfy the requirements to the extent permitted by law and subject
to Committee approval.

<PAGE>

SECTION 21.  DEFINITIONS.

     21.1  AGILENT means Agilent Technologies, Inc., a Delaware corporation, and
any business entity within the Agilent consolidated group.

     21.2  BASE PAY means the annual base rate of cash compensation for
employees on the U.S. payroll of Agilent, excluding bonuses, commissions,
overtime pay, Bonuses, shift differential, payments under the Agilent or HP
Income Protection Plan, the Agilent or HP Supplemental Income Protection Plan,
or any other additional compensation.

     21.3  BENEFICIARY means the person or persons designated by a Participant
pursuant to Section 9 to receive any amounts payable under the Plan in the event
of the Participant's death.

     21.4  BONUS shall have the same meaning as set forth in the PFR Plan.

     21.5  CODE means the Internal Revenue Code of 1986, as amended from time to
time.

     21.6  COMMITTEE means the Compensation Committee of the Board of Directors
of Agilent, as constituted in accordance with the provisions of the PFR Plan, or
its delegate.

     21.7  COVERED OFFICER shall have the same meaning as "covered employee"
does under Code section 162(m).

     21.8  DEFERRAL ACCOUNT means the account balance of a Participant in the
Plan created from Deferred Amounts or from a credit to a Participant's account
from a Rollover Plan, and the Earnings thereon prior to a payout to the
Participant.

     21.9  DEFERRED AMOUNT means the amount the Participant elects to have
deferred from Base Pay and/or a Bonus, pursuant to Section 3.

     21.10 DISTRIBUTION DATE has the same meaning as this same defined term in
the Master Separation and Distribution Agreement between HP and Agilent,
effective August 12, 1999.

     21.11 EARNINGS means the deemed return on investment (or charge on
investment loss) allocated to a Participant's Deferral Account, based on the
return of the Fund, reduced by ten (10) percent when the return of the Fund is
positive, and increased by ten (10) percent when the return of the Fund is
negative.  Whether the return of the Fund is positive or negative for purposes
of the adjustment described in the preceding sentence, is determined in
accordance with Section 5.

     21.12 ELIGIBLE EMPLOYEE means an employee on the U.S. payroll of Agilent
who has Base Pay at the time of election as specified in Section 3 equal to or
in excess of the sum of (1) the amount defined in Code section 401(a)(17), as
adjusted by the Secretary of the Treasury under Code section 415(d), in effect
on January 1 of the calendar year for which amounts are to be deferred, plus (2)
$6,000.  Where this Plan references an Eligible Employee's deferral of a Bonus,
this assumes the Eligible Employee is also a participant in the PFR Plan.

     21.13 ERISA means the Employee Retirement Income Security Act of 1974, as
amended from time to time.

     21.14 Fund means-

           21.14.1  Unless otherwise provided in this Subsection 21.14, an S&P
           500 index Fund, as designated by the Committee from time to time;
           and,

<PAGE>

           21.14.2  With respect to Earnings credited to the Deferral Account of
           a Covered Officer, the term Fund shall specifically refer to the
           Vanguard Institutional Index Fund; and,

           21.14.3  With respect to a Deferral Account created or credited by
           the deferral of amounts arising from the termination of the
           Hewlett-Packard Company Officers Early Retirement Plan, as restated
           effective October 31, 1999, the term Fund shall specifically refer to
           a fund the investments of which are comprised of a mix of debt and
           equity, as chosen in the sole discretion of the Committee, and as
           subject to the forfeiture provisions of Section 4.2.

     21.15 H1 BONUS means a Bonus arising from the Performance Period defined by
the first half of Agilent's fiscal year (November 1 through April 30), or as
otherwise set forth in accordance with the terms of the PFR Plan.

     21.16 H2 BONUS means a Bonus arising from the Performance Period defined by
the second half of Agilent's fiscal year (May 1 through October 31), or as
otherwise set forth in accordance with the terms of the PFR Plan.

     21.17 HP means Hewlett-Packard Company, a Delaware corporation.

     21.18 PARTICIPANT, unless preceded by "PFR" in which case the term
indicates a participant in the PFR Plan, means any individual who has a Deferral
Account under the Plan or who is receiving or entitled to receive benefits under
the Plan.  The term Participant also refers to a Rollover Participant, except
where expressly provided otherwise.

     21.19 PAYOUT COMMENCEMENT DATE means the date on which the payout to a
Participant of amounts credited to his or her Deferral Account first commences.

     21.20 PERFORMANCE MEASURE shall have the same meaning as set forth in the
PFR Plan.

     21.21 PERFORMANCE PERIOD shall have the same meaning as set forth in the
PFR Plan.

     21.22 PLAN, unless preceded by (i) "PFR", in which case the term refers to
the PFR Plan, (ii) "HP", in which case the term refers to the Hewlett-Packard
Company Executive Deferred Compensation Plan, or (iii) "Rollover", in which case
the terms refers to a Rollover Plan, means the Agilent Technologies, Inc.
Executive Deferred Compensation Plan.

     21.23 RETIREMENT DATE means the date on which a Participant has completed
at least 15 years of service, as defined in the Retirement Plan, and has
attained age 55.  For this purpose, the Committee may, in its discretion, permit
the years of service of a Rollover Participant to include the years of service
with the employer for which a Rollover Participant worked immediately preceding
employment with Agilent.

     21.24 RETIREMENT PLAN means, until the Distribution Date, the
Hewlett-Packard Company Retirement Plan, and on and after the Distribution Date,
the Agilent Retirement Plan.

     21.25 ROLLOVER PARTICIPANT means an individual with a Deferral Account in
the Plan transferred from a Rollover Plan in accordance with the provisions of
Section 19.  The term Rollover Participant may also refer to an individual who
has previously been a Participant in the Plan, or an existing Participant at the
time of transfer.

     21.26 ROLLOVER PLAN means-

           21.26.1  The nonqualified deferred compensation plan of any other
           employing business entity within the HP consolidated group, until the
           Distribution Date; or

<PAGE>

           21.26.2  The Hewlett-Packard Company Officers Early Retirement Plan,
           to the extent a Deferral Account is created or added to for a
           Participant or Rollover Participant, due to the termination of this
           plan; or,

           21.26.2  The nonqualified deferred compensation plan of a business
           entity acquired by Agilent through acquisition of a majority of the
           voting interest in, or substantially all of the assets of, such
           entity.

     21.27 TAX OR (TAXES) means any federal, state, local, or any other
governmental income tax, employment tax, payroll tax, excise tax, or any other
tax or assessment owing with respect to amounts deferred, any Earnings thereon,
and any payments made to Participants under the Plan.

     21.28 TERMINATION DATE means the date on which the Participant ceases to be
an employee of Agilent.

     21.29 TERMINATION YEAR means the calendar year within which a Participant's
Termination Date falls.

     21.30 TRANSITION PERIOD means the period commencing with the beginning of
Agilent's Payroll Date (as defined in the Master Separation and Distribution
Agreement between HP and Agilent, effective August 12, 1999), and ending on the
Distribution Date (as defined in the Master Separation and Distribution
Agreement between HP and Agilent, effective August 12, 1999).

     21.31 PFR PLAN means the Agilent Technologies, Inc. Pay-for-Results
Management Incentive Plan effective November 1, 1999, as amended from time to
time.

SECTION 22.  EXECUTION.

IN WITNESS WHEREOF, Agilent has caused this Plan to be duly adopted by the
undersigned this 3 day of December 1999, effective December 3, 1999.

Agilent Technologies, Inc.

By:     /s/ D. Craig Nordlund
     -------------------------------------
     D. Craig Nordlund,
     Vice President, General Counsel and Secretary
     Agilent Technologies, Inc.

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