Document:

QuickLinks
 -- Click here to rapidly navigate through this document
  

 
 

Exhibit 4(b)    
  

HEWLETT-PACKARD COMPANY  

 CORPORATE GUARANTY

(Limited Amount)  

        This
Corporate Guaranty (this "Guaranty") is made as of this 1st day of April 2002 by Hewlett-Packard Company, a Delaware
corporation ("Guarantor"), for the benefit of each Holder (as such term is defined in the CVR Agreement (as defined below)) of Contingent Value Rights
(as defined below) and Hewlett-Packard Erste Vermogensverwaltungs- und Beteiligungsgesellschaft mbH, a business entity organized under the laws of Germany ("Obligor"). 

        WHEREAS,
Obligor is an indirect subsidiary of Guarantor and Guarantor has an interest in the financial condition of Obligor and expects to derive advantages from the financial
accommodations described herein; 

        WHEREAS,
pursuant to an exchange offer made by Obligor pursuant to the terms of the Offer Agreement (the "Offer Agreement") dated as of
September 6, 2001, as amended on February 13, 2002, by and between Guarantor and Indigo N.V., a corporation organized under the laws of The Netherlands, Obligor is issuing Contingent
Value Rights (as defined in the CVR Agreement) to each Holder; 

        WHEREAS,
Obligor may be required to pay certain amounts to the Holders based on the terms and conditions contained in the Offer Agreement and in the CVR Agreement dated as of
April 1, 2002, entered into by and between Obligor and JP Morgan Trust Company, National Association, as Trustee, and JP Morgan Trust Company, National Association, as Depositary and Paying
Agent (the "CVR Agreement"). 

        WHEREAS,
it is a condition of the issuance of the Contingent Value Rights by Obligor that the Holders receive the benefits of this Guaranty. 

        NOW,
THEREFORE, for valuable consideration, the receipt whereof by Guarantor is hereby acknowledged, and to induce the Holders to consummate the transactions contemplated by the Offer
Agreement and to induce Obligor to issue the Contingent Value Rights, Guarantor hereby agrees as follows: 

	1.
	Guaranty.

        (a)  Subject
to Section 4 below, Guarantor hereby unconditionally and irrevocably guarantees to the Holders (i) the due and punctual payment in immediately
available funds of any and all sums of money that may become due pursuant to the Contingent Value Rights and the CVR Agreement, and (ii) the due and punctual performance of all covenants,
agreements, obligations and liabilities of Obligor under or pursuant to the Contingent Value Rights and the CVR Agreement (all the monetary and other obligations referred to in the preceding clauses
(i) and (ii), together with interest and any and all legal and other costs and expenses paid or incurred by the Holders or the Trustee in connection with the collection thereof (excluding any
and all legal and other costs and expenses that the CVR Agreement provides shall be paid by the Holders or the Trustee), being collectively called the
"Obligations"). Guarantor shall pay in full or perform, as applicable, any such Obligation promptly on demand (in the manner set forth in
Section 12 hereof) following the failure of Obligor so to pay or perform, as applicable, such Obligation pursuant to the terms of the Contingent Value Rights and the CVR Agreement. 

        (b)  To
the fullest extent permitted by applicable law, the obligations of Guarantor hereunder shall not be discharged, impaired or affected by (i) the failure of any
Holder or any other party to 

1

 

assert any claim or demand or to enforce or exercise any right or remedy against the Obligor or any other party under the provisions of the Contingent Value Rights and the CVR Agreement, or
(ii) by any other act or omission that may or might in any manner or to any extent otherwise operate as a discharge of the Obligor as a matter of law or equity. 

        (c)  This
Guaranty is absolute, unconditional and continuing and constitutes an independent guaranty of payment when due and not of collection, and is in no way conditioned
on or contingent upon any attempt to enforce in whole or in part any of Obligor's Obligations to the Holders, the existence or continuance of Obligor as a legal entity, the consolidation or merger of
Obligor with or into any other entity, the sale, lease or disposition by Obligor of all or substantially all of its assets to any other entity, the bankruptcy or insolvency of Obligor, the admission
by Obligor of its inability to pay its debts as they mature, or the making by Obligor of a general assignment for the benefit of, or entering into a composition or arrangement with, creditors. 

        (d)  Each
failure by Obligor to pay or perform Obligations to the Holders that are subject to this Guaranty as and when they are due shall give rise to a separate cause of
action, and separate suits may be brought hereunder as each cause of action arises. 

        (e)  Guarantor
further guarantees that all payments made by Obligor to the Holders on the Obligations will be, when made, final and, if any such payment is recovered from, or
repaid by, the Holders in whole or in part in any bankruptcy, insolvency or similar proceeding instituted by or against Obligor, this Guaranty shall continue to be fully applicable to such Obligation
to the same extent as though the payment so recovered or repaid had never been originally made on such Obligation. 

        2.    Unsecured Obligation. This Guaranty is an unsecured obligation of Guarantor and shall rank pari passu with all other
unsecured obligations of Guarantor. 

        3.    Consent to Alteration of Terms of CVR Agreement. Subject to Section 4 below, the Guarantor hereby covenants that
from time to time, without notice to or consent of the Guarantor, the performance or observance by Obligor of any obligation under the Contingent Value Rights and the CVR Agreement may be:
(i) waived; and (ii) payment of any Obligation hereby guaranteed may be extended in accordance with any agreement between Obligor and Holders, all without affecting the liability of the
Guarantor hereunder. 

        4.    Maximum Liability of Guarantor. Notwithstanding any provision of this Guaranty to the contrary, the liability of Guarantor
hereunder shall not exceed the CVR Payout, as such term is defined in the CVR Agreement, plus interest incurred thereon pursuant to the Contingent Value Rights and the CVR Agreement and the costs and
expenses mentioned in Section 1. Notwithstanding any provision of this Guaranty to the contrary, nothing herein shall be deemed to expand the obligations and covenants of Obligor under or
pursuant to the Contingent Value Rights and the CVR Agreement. 

        5.    Subrogation. No payment by Guarantor pursuant to any provision hereof shall entitle Guarantor, by subrogation to the
rights of the Holders or otherwise to any payment by Obligor or out of the property of Obligor, except after payment in full of all Obligations which may be or become payable to the Holders at any
time or from time to time under the Contingent Value Rights and the CVR Agreement. 

        6.    Continuing Guaranty. This Guaranty shall be a continuing guaranty. Any co-guarantor or
co-guarantors, or any other party liable upon or in respect of any Obligation hereby guaranteed may be released without affecting the liability of Guarantor. No failure or delay on the
part of the Holders in exercising any right, power or privilege hereunder and no course of dealing between Guarantor and the Holders shall operate as a waiver thereof; nor shall any single or partial
exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights, powers and remedies herein
expressly provided are cumulative and not 

2

 

exclusive of any rights, powers or remedies that the Holders would otherwise have. No notice or demand on Guarantor in any case shall entitle Guarantor to any other further notice or demand in
similar or other circumstances or constitute a waiver of the rights of the Holders to any other or further action in any circumstances without notice or demand. 

        7.    Binding Effect. This Guaranty shall be binding upon Guarantor and its permitted successors and assigns and shall inure to
the benefit of the Holders and their successors and assigns. Except as provided for in Section 8 below, Guarantor may not assign its obligations under this Guaranty to any other person, by
operation of law or otherwise, without the written consent of a majority in interest of the Holders. 

        8.    Consolidation, Merger, etc.

        (a)  Guarantor
shall be entitled in its sole discretion to consolidate or merge with any Person (as defined below) or sell, lease, exchange, transfer, license, or otherwise
dispose of any or all of its assets (whether tangible or intangible). In the event of any such merger, consolidation, sale, lease, exchange, transfer, license or other disposition, subject to
Section 8(b) below, this Guaranty shall remain in effect unless otherwise agreed to in writing by a majority in interest of the Holders. 

        (b)  In
the event of a merger or consolidation in which Guarantor is not the surviving entity or a sale, conveyance or transfer of all or substantially all of the properties
and assets of Guarantor, (i) the surviving Person or the purchaser, as applicable, shall expressly assume, by an agreement supplemental hereto, executed and delivered to the Trustee under the
CVR Agreement, in form reasonably satisfactory to the Trustee, all obligations and covenants of Guarantor under this Guaranty, and (ii) following the assumption of this Guaranty by such
successor Person, such successor Person shall succeed to and be substituted for Guarantor hereunder with the same effect as if such successor Person had been named herein. 

        (c)  In
the event of any such merger, consolidation, sale, conveyance or transfer pursuant to Section 8(b), Guarantor or any Person which shall theretofore have become
such in the manner described in this Section shall be discharged from all obligations and covenants under this Guaranty and may be liquidated and dissolved. 

        (d)  For
purposes of this Section 8, "Person" means any individual, corporation, artnership, joint venture,
association, joint-stock company, trust, limited liability company, unincorporated organization or government or other agency or political subdivision thereof. 

        9.    Waivers. To the fullest extent permitted by law, Guarantor hereby waives: 

        (a)  Notice
of acceptance of this Guaranty and of the incurring of any and all of the Obligations of Obligor; and 

        (b)  Presentment
of any instrument, demand of payment, notice of non-payment or protest thereof. 

        10.  Notification. Whenever at any time or from time to time Guarantor shall make any payment to the Holders hereunder on
account of Guarantor's liability hereunder, it will notify Obligor in writing that such payment is made under this Guaranty for such purpose. 

        11.  Partial Invalidity. If at any time any provision of this Guaranty is or becomes illegal, invalid or unenforceable in any
respect under the laws of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Guaranty nor the legality, validity or enforceability of such provision
under the laws of any other jurisdiction shall in any way be affected or impaired thereby. 

        12.  Enforcement by Trustee. Guarantor agrees and acknowledges and the Holders and Obligor by acceptance of this Guaranty and
the benefits conferred hereby, agree that JP Morgan Trust Company, National Association, as Trustee under the CVR Agreement, or any successor Trustee appointed 

3

 

pursuant to the CVR Agreement, shall act on behalf of the Holders with respect to this Guaranty in accordance with and subject to the applicable provisions of the CVR Agreement. Any demand for
performance hereunder shall be made in writing, delivered to the Guarantor by the Trustee. 

        13.  GOVERNING LAW; JURISDICTION. ALL QUESTIONS AND/OR DISPUTES CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF
THIS GUARANTY SHALL BE GOVERNED BY THE INTERNAL LAWS, AND NOT THE LAWS OF CONFLICTS, OF THE STATE OF DELAWARE. GUARANTOR, OBLIGOR, THE TRUSTEE AND EACH OF THE HOLDERS BY THEIR ACCEPTANCE OF THE
CONTINGENT VALUE RIGHTS HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES TO BE SUBJECT TO, AND HEREBY CONSENTS AND SUBMITS TO, THE JURISDICTION OF THE COURTS OF THE STATE OF DELAWARE, AND AGREES THAT ANY
ACTION INVOLVING ANY EQUITABLE OR OTHER
CLAIM SHALL BE BROUGHT EXCLUSIVELY IN THE DELAWARE COURT OF CHANCERY. IN THE EVENT THAT THE DELAWARE COURT OF CHANCERY DOES NOT ACCEPT JURISDICTION OVER ANY SUCH ACTION, GUARANTOR, OBLIGOR, THE
TRUSTEE, AND EACH OF THE HOLDERS BY THEIR ACCEPTANCE OF THE CONTINGENT VALUE RIGHTS HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ANY SUCH ACTION THEN SHALL BE BROUGHT EXCLUSIVELY IN THE UNITED
STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE. UNLESS THE CONTEXT OTHERWISE REQUIRES, ALL TERMS USED HEREIN WHICH ARE DEFINED IN THE UNIFORM COMMERCIAL CODE OF THE STATE OF DELAWARE SHALL HAVE
THE MEANINGS THEREIN STATED. 

4

 

        IN
WITNESS WHEREOF, Guarantor has caused this instrument to be duly executed and delivered by its proper officers as of the date first written above. 

	 	 	 	HEWLETT-PACKARD COMPANY
	

 	

 	
 	

By:	

/s/ Robert P. Wayman

	

 	

 	
 	

Name:	

Robert P. Wayman

	

 	

 	
 	

Title:	

Executive Vice President and
Chief Financial Officer

	

 	

 	
 	

Address:	

3000 Hanover Street

Palo Alto, CA 94304
	

Attest:	

/s/ Ann O. Baskins
	
 	

 	

 
	

Name:	

Ann O. Baskins
	
 	

 	

 
	

Title:	

Vice President, General Counsel and Secretary
	
 	

 	

 

5

QuickLinks

Exhibit 4(b)QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 10.(a)    
  

 
  STOCK PURCHASE AGREEMENT    
  

        THIS STOCK PURCHASE AGREEMENT (this "Agreement"), by and between Hewlett-Packard Company, a Delaware corporation
("HP"), and Hewlett-Packard Erste Vermögensverwaltungs- und Beteiligungsgesellschaft mbH, a German corporation
("Newco"), is made and entered into as of March 22, 2002. 

 
 

RECITALS    
  

        A.    Pursuant
to that certain Offer Agreement, made and entered into as of September 6, 2001 (the "Offer Agreement"), by
and between HP and Indigo N.V., a corporation organized under the laws of The Netherlands ("Indigo"), Newco has made an offer to purchase all of the
outstanding common shares of Indigo (the "Exchange Offer") in exchange for common stock of HP and contingent value rights issued by Newco (the
"CVRs") entitling the holders of the CVRs (the "Holders") to a contingent cash payment from Newco if
HP's revenues from digital press products that utilize Indigo's technology reach specified revenue milestones over a three-year period, which will begin after completion of the Exchange Offer, as set
forth in more detail in that certain Contingent Value Rights Agreement to be entered into by Newco and Chase Manhattan Bank and Trust Company, National Association, as Depository and Paying Agent. 

        B.    HP
desires to sell to Newco, and Newco desires to purchase from HP, for cash, that number of shares of common stock of HP (the
"Shares") that Newco is obligated to exchange for the Indigo common shares pursuant to the terms of the Offer Agreement and the completion on
March 22, 2002, of the Exchange Offer. 

        C.    The
closing sales price of HP common stock on the New York Stock Exchange on March 22, 2002 was $18.15. 

        NOW, THEREFORE, in consideration of the mutual covenants and undertakings herein contained, HP and Newco, intending to be legally bound,
covenant and agree as follows: 

 
 

ARTICLE 1    
    
    STOCK PURCHASE    
  

        1.1    Stock Purchase.    Subject to the terms and conditions of this Agreement, Newco agrees to purchase from HP and
HP agrees to sell and to issue to Newco, the Shares. The consideration for the purchase and sale of the Shares shall be cash in an amount of US$18.15 per share. 

        1.2    Closing.    An initial closing shall take place on March 26, 2002 (the "Initial Closing"). At the
Initial Closing, HP shall issue to Newco and Newco shall purchase from HP 31,000,000 shares of HP common stock for an aggregate purchase price of $562,650,000. Within two business days after the
public announcement of the final fixed price proation factor, as defined under the Offer Agreement, Newco shall purchase from HP and HP shall sell and to issue to Newco that number of shares of HP
common stock which is equal to the difference between the Shares and 31,000,000 (the "Second Closing"). Each of the Initial Closing and the Second Closing shall take place at the offices of HP at 3000
Hanover Street, Palo Alto California. 

        1.3    Tax Consequences.    The sale of the Shares by HP to Newco is intended by both parties to be governed by Treas.
Reg. Sec. 1.1032-3(b). 

 

 
 

ARTICLE 2    
    
    REPRESENTATIONS AND WARRANTIES OF HP    
  

        HP hereby represents and warrants to Newco as follows: 

        2.1    Organization.    HP is a corporation duly organized, validly existing and in good standing under the laws of
the State of Delaware. 

        2.2    Authority Relative to this Agreement.    HP has all necessary corporate power and authority to execute and
deliver this Agreement and to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement and the consummation of the
transactions contemplated hereby has been duly and validly authorized by all necessary corporate action on the part of HP, and no other corporate proceedings are necessary to authorize this Agreement
or to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by HP and, assuming the due authorization, execution and delivery by Newco, constitutes legal
and binding obligations of HP. 

        2.3    Issuance of Shares.    When issued in accordance with the terms of this Agreement, the Shares will be duly
authorized, validly issued, fully paid and nonassessable and not subject to preemptive rights. 

        2.4    No Conflict; Required Filings and Consents.    The execution and delivery of this Agreement by HP does not, and
the performance of this Agreement by HP shall not, conflict with or violate any provision of its certificate of incorporation or bylaws and all required consents or approvals for such execution and
delivery have been obtained. 

 
 

ARTICLE 3    
    
    REPRESENTATIONS AND WARRANTIES OF NEWCO    
  

        Newco hereby represents and warrants to HP as follows: 

        3.1    Organization.    Newco is a corporation duly organized, validly existing and in good standing under the laws of
Germany. 

        3.2    Authority Relative to this Agreement.    Newco has all necessary corporate power and authority to execute and
deliver this Agreement and to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement and the consummation of the
transactions contemplated hereby has been duly and validly authorized by all necessary corporate action on the part of Newco, and no other corporate proceedings are necessary to authorize this
Agreement or to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by Newco and, assuming the due authorization, execution and delivery by HP,
constitutes legal and binding obligations of Newco. 

        3.3    Issuance of Shares.    Newco acknowledges and agrees that (i) the issuance of the Shares to Newco
pursuant to this Agreement has not been registered under the Securities Act of 1933, as amended (the "Securities Act") by reason of their issuance in a
transaction exempt from the registration and prospectus delivery requirements of the Securities Act pursuant to Section 4(2) of the Securities Act and/or Regulation D and/or Regulation S
promulgated under the Securities Act, and (ii) that the exchange of the Shares by Newco for the outstanding Indigo common shares pursuant to the terms of the Exchange Offer has been registered
under the Securities Act on a Form S-4 Registration Statement filed by HP and Newco. Newco further represents that it is purchasing the Shares from HP for the purpose of exchanging the Shares for the
outstanding Indigo common shares pursuant to the terms of the Exchange Offer and that, except as aforesaid, Newco is not purchasing the 

2

 

Shares with a view to, or for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act. 

        3.4    No Conflict; Required Filings and Consents.    The execution and delivery of this Agreement by Newco does not,
and the performance of this Agreement by Newco shall not, conflict with or violate any provision of its certificate of incorporation or bylaws, or equivalent charter documents, and all required
consents or approvals for such execution and delivery have been obtained. 

 
 

ARTICLE 4    
    
    GENERAL PROVISIONS    
  

        4.1    Notices.    All notices and other communications hereunder shall be in writing and shall be deemed given if
delivered personally or by commercial delivery service, or sent via telecopy (receipt confirmed)
to the parties at the following addresses or telecopy numbers (or such other address or telecopy numbers for a party as shall be specified by like notice): 

        If
to HP, to: 

Hewlett-Packard
Company

3000 Hanover Street

Palo Alto, California 94304

Attention: Chief Executive Officer

Telephone No.: (650) 857-1501

Telecopy No.: (650) 852-2977 

with
copies to: 

Hewlett-Packard
Company

3000 Hanover Street

Palo Alto, California 94304

Attention: General Counsel

Telephone No.: (650) 857-1501

Telecopy No.: (650) 857-4837 

        If
to Newco, to: 

Hewlett-Packard
Erste

Vermögensverwaltungs- und Beteiligungsgesellschaft mbH

Herrenbergerstr. 140

71034 Boeblingen

Germany

Attention: Juergen Banhardt 

        4.2    Counterparts.    This Agreement may be entered into in one or more counterparts, all of which shall be
considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party, it being understood that all
parties need not sign the same counterpart. 

        4.3    Entire Agreement.    This Agreement constitutes the entire agreement between the parties hereto with respect to
the subject matter hereof, and supersedes and replaces all prior or contemporaneous agreements, written or oral, regarding such subject matter. 

        4.4    Severability.    If any provision of this Agreement or a portion thereof is held by a court of competent
jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no
way be affected, impaired or invalidated. The parties further agree to replace such invalid, illegal, 

3

 

void or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid, illegal,
void or unenforceable provision. 

        4.5    Rules of Construction.    The parties hereto agree that they have been represented by counsel during the
negotiation and execution of this Agreement and, therefore, waive the application of any law, regulation, holding or rule of construction providing that ambiguities in an agreement or other
document will be construed against the party drafting such agreement or document. 

        4.6    Amendment.    This Agreement may be amended or modified only by a writing signed by both parties hereto. 

        4.7    Assignment.    The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the
respective successors and assigns of the parties hereto. 

        4.8    Termination.    This Agreement shall become effective at the Effective Time. In the event that the Offer
Agreement is terminated in accordance with its terms, this Agreement shall terminate and be of no further force or effect. 

        4.9    Governing Law.    This Agreement shall be governed by, and construed in accordance with, the internal laws of
the State of New York, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof. 

[Remainder of page intentionally left blank.] 

4

 

        IN
WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement effective as of the 22 day of March, 2002. 

	 	 	HEWLETT-PACKARD COMPANY
	

 	
 	

By:	
 	

/s/  CHARLES N. CHARNAS      

	

 	
 	

Name:	
 	

CHARLES N. CHARNAS

	

 	
 	

Title:	
 	

Assistant Secretary and

Senior Managing Counsel

	

 	
 	

HEWLETT-PACKARD ERSTE VERMÖGENSVERWALTUNGS- UND BETEILIGUNGSGESELLSCHAFT MBH
	

 	
 	

By:	
 	

/s/  CHARLES N. CHARNAS      

	

 	
 	

Name:	
 	

CHARLES N. CHARNAS

	

 	
 	

Title:	
 	

Managing Director

SIGNATURE PAGE TO STOCK PURCHASE AGREEMENT  

5

QuickLinks

Exhibit 10.(a)

STOCK PURCHASE AGREEMENT

RECITALS

ARTICLE 1 STOCK PURCHASE

ARTICLE 2 REPRESENTATIONS AND WARRANTIES OF HP

ARTICLE 3 REPRESENTATIONS AND WARRANTIES OF NEWCO

ARTICLE 4 GENERAL PROVISIONS

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00042-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00042-of-00352.parquet"}]]