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EXHIBIT 10(r)(r)    
    

 
 

DIRECTOR KEY GRANT
  CONFIDENTIAL    
    

FORM OF NONQUALIFIED STOCK OPTION NOTICE

NONQUALIFIED STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS  

	OPTIONEE
 
	 	GRANT DATE
	 	SHARES GRANTED

   

    

	PLAN NUMBER
 
	 	VESTING CODE
	 	OPTION PRICE

   

    

	SUB. CODE
 
	 	COST CENTER
	 	SOCIAL SECURITY NUMBER

        We
are pleased to inform you have been granted you an option to purchase Compaq common stock under the Company's Nonqualified Stock Option plan for Non-Employee Directors
(the "Director Plan"), which, together with the terms contained in this Notice, sets forth the terms and conditions of your grant is incorporated herein by reference. a copy of the director Plan has
been provided to you. Please review it carefully; capitalized terms in this Notice have the same meaning as the Director Plan. 

	1.
	Vesting:
Subject to the conditions set forth below and in the Director 1995 Plan, you may exercise this Option in whole or in part (i) with respect to 50% of the Shares, one
year from the date of grant and (ii) with respect to the remaining 50% of the Shares, two years from the date of grant to purchase a number of Shares equal to the difference between A and B,
where

	2.
	Exercise:
Your Option may be exercised to the extent vested at any time during the period beginning on the grant date and ending ten years from the date hereof; provided that you may
only exercise this Option with respect to whole shares.

	3.
	Transferability:
Your Option may be transferred to a member of your immediate family or to an estate planning vehicle in accordance with the policies adopted by Board of Directors. No
subsequent transfers are permitted other than by laws of descent and distribution.

	4.
	Termination
of Service as Director Suspension of Employment: The Director Plan sets forth the terms and conditions of this grant that apply in the event of your termination of service
as Director. employment.

	5.
	To
Exercise: You may exercise this grant by delivering to the Company at its principal office notice of intent to exercise and payment in full of the exercise price. This option is a
nonqualified option. 

 
 

DIRECTOR GRANT IN LIEU OF RETAINER
  CONFIDENTIAL    
    

FORM OF NONQUALIFIED STOCK OPTION NOTICE

NONQUALIFIED STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS  

	OPTIONEE
 
	 	GRANT DATE
	 	SHARES GRANTED

   

    

	PLAN NUMBER
 
	 	VESTING CODE
	 	OPTION PRICE

   

    

	SUB. CODE
 
	 	COST CENTER
	 	SOCIAL SECURITY NUMBER

        You
have elected to receive all or a portion of your retainer for acting as a director of Compaq in the form of options to purchase Compaq common stock under the Company's Nonqualified
Stock Option Plan for Non-Employee Directors (the "Director Plan"), which, together with the terms contained in this Notice, sets forth the terms and conditions of your options and is
incorporated herein by reference. A copy of the Director Plan has been provided to you. Please review it carefully; capitalized terms in this Notice have the same meaning as the Director Plan. 

	1.
	Vesting:
Subject to the conditions set forth below and in the Director Plan, you may exercise this Option in whole or in part one year from the date of grant.

	2.
	Exercise:
Your Option may be exercised to the extent vested at any time during the period beginning on the grant date and ending ten years from the date hereof; provided that you may
only exercise this Option with respect to whole shares.

	3.
	Transferability:
Your Option may be transferred to a member of your immediate family or to an estate planning vehicle in accordance with the policies adopted by the Board of Directors.
No subsequent transfers are permitted other than by laws of descent and distribution.

	4.
	Termination
of Service as Director: The Director Plan sets forth the terms and conditions of this grant that apply in the event of your termination of service as Director.

	5.
	To
Exercise: You may exercise this grant by delivering to the Company at its principal office notice of intent to exercise and payment in full of the exercise price. This option is a
nonqualified option. 

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EXHIBIT 10(r)(r)

DIRECTOR KEY GRANT CONFIDENTIAL

DIRECTOR GRANT IN LIEU OF RETAINER CONFIDENTIALQuickLinks
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Exhibit 10(s)(s)    
    

1985 Executive Stock Option Plan  

 
 

COMPAQ COMPUTER CORPORATION    
    
    NONQUALIFIED STOCK OPTION AGREEMENT  
    

        THIS AGREEMENT, made this [DATE], in Houston, Texas between COMPAQ COMPUTER CORPORATION, a Delaware corporation (hereinafter called the
"Company"), and                        (hereinafter called "Optionee"): 

RECITALS:  

        The Company has adopted the Compaq Computer Corporation 1985 Executive and Key Employee Stock Option Plan (the "Plan"), which Plan is incorporated herein by
reference and made a part of this Agreement. 

        The
Company has determined that it would be in the best interests of the Company and its stockholders to grant the option provided for herein (the "Option") to Optionee pursuant to the
Plan and the terms set forth herein as an inducement to remain in the service of the Company and as an incentive for increased efforts during such service; 

        NOW
THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties hereto agree as follows: 

        1.    Grant of the Option.    The Company hereby grants to Optionee the right and option to purchase, on the terms and
conditions hereinafter set forth, all or any part of an aggregate of                shares of the presently authorized but unissued Common Stock of the Company
(hereinafter called the "Stock"). The
purchase price of the Stock subject to this Option shall be $                per share, which price is not less than the per share fair market value of such Stock as of
the date hereof. 

 

        2.    Exercise of Option.    

        (a)   Providing
the conditions of subparagraphs (b), (c), (d), and (e) of this paragraph 2 have been satisfied, Optionee may exercise this Option to purchase a
number of shares of Stock which shall not exceed the difference between A and B, where 

	 	 	A	 	=	 	the number of shares subject to this Option multiplied by the appropriate fraction determined from the table below where "n" is equal to the number of whole months elapsed since the date of this Agreement:

	
Number of whole

months elapsed since

the date of this

Agreement
	
 	

Fraction to be

multiplied by the

number of shares

subject to this Option

	

  1 - 12	
 	

n/120
	

13 - 24	
 	

1/10      +	
 	

n - 12
 80
	

25 - 36	
 	

1/4      +	
 	

n - 24
 60
	

37 - 48	
 	

9/20      +	
 	

n - 36
 48
	

49 - 60	
 	

7/10      +	
 	

n - 48
 40
	

Over 60	
 	

10/10

	

 	
 	

B	
 	

=	
 	

the number of shares of Stock previously acquired by Optionee's partial exercise of this Option.

        (b)   This
Option may be exercised in whole or in part at any time during the period beginning one year after the date of this Agreement first written above and ending ten
years from the date of this Agreement first above written, provided that Optionee may not exercise this option more often than twice during any calendar year. The Option is not transferable or
assignable by the Optionee other than by will or the laws of descent and distribution. During the Optionee's lifetime, this Option shall be exercisable only by the Optionee. 

        (c)   Options
may be exercised in whole or in part with respect to whole shares only within the period permitted for exercise thereof, and shall be exercised by written notice
of intent to exercise the Option with respect to a specified number of shares delivered to the Company at its principal office and payment in full to the Company at its principal office and payment in
full to the Company at its principal office in the amount of the option price for the number of shares of the Common Stock with respect to which the Option is then being exercised. The payment of the
option price shall be made in cash or by certified check, bank draft, or postal or express money order payable to the order of the Company, or, with the consent of the Board (or the Committee, if
established by the Board), in whole or in part in Common Stock valued at Fair Market Value which is owned by the Optionee. 

        (d)   This
Option may not be exercised prior to the registration of the Stock with the Securities and Exchange Commission and any applicable state agencies. However, this
condition may be 

2

 

waived
by the Board (or Committee, if any) if it determines that such registration is not necessary in order to legally issue shares of Stock to Optionee. 

        (e)   Upon
the Company's determination that the Option has been validly exercised as to any of the Stock, the Secretary of the Company shall issue certifications in the
Optionee's name for the number of shares set forth in his written notice. However, the Company shall not be liable to the Optionee for damages relating to any delays in issuing the certificates to
him, any loss of the certificates, or any mistakes or errors in the issuance of the certificates or in the certificates themselves. 

        3.    Employment of Optionee.    Subject to the terms of any employment contract to the
contrary, the Company shall have the right to terminate or change the terms of employment of Optionee at any time and for any reason whatsoever. 

        4.    Notices.    Any notice required to be given under the terms of this Option Agreement shall be addressed to the
Company in care of its Secretary at the principal executive office of the Company, and any notice to be given to Optionee shall be addressed to him at the address given by him beneath his signature
hereto or such other address as either party hereto may hereafter designate in writing to the other. Any such notice shall be deemed to have been duly given when addressed as aforesaid,
registered or certified mail, and deposited (postage or registration or certification fee prepaid) in a post office or branch post office regularly maintained by the United States. 

        5.    Disputes.    As a condition of the granting of the Option hereby, the Optionee and his heirs and successors
agree that any dispute or disagreement which may arise hereunder shall be determined by the Board (or Committee, if any) in its sole discretion and judgment, and that any such determination and any
interpretation by the Board (or Committee, if any) of the terms of this Option shall be final and shall be binding and conclusive, for all purposes, upon the Company, Optionee, his heirs and personal
representatives. 

        6.    Legend on Certificates.    The certificates representing the shares of Stock purchased by exercise of this
Option will be stamped or otherwise imprinted with a legend in such form as the Company or its counsel may require with respect to any applicable restrictions on sale or transfer and the stock
transfer records of the Company will reflect stop-transfer instructions with respect to such shares. 

        7.    Option Subject to Plan.    This option is subject to the Plan. The terms and provisions of the Plan (including
any subsequent amendments thereto) are hereby incorporated herein by reference thereto. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan,
the applicable terms and provisions of the Plan will govern and prevail. All definitions of words and terms contained in the Plan shall be applicable to this Option. 

        8.    Miscellaneous.    

        (a)   All
decisions of the Board (or Committee, if any) upon any questions arising under the Plan or under this Option Agreement shall be conclusive. 

        (b)   Nothing
herein contained shall affect Optionee's right to participate in and receive benefits from and in accordance with the then current provisions of any pension,
insurance or other employee welfare plan or program of the Company. 

        (c)   Optionee
agrees to make appropriate arrangements with the Company for satisfaction of any applicable federal, state or local income tax, withholding requirements or like
requirements, including the payment to the Company at the time of exercise of the Option of all such taxes and requirements. 

        (d)   This
Agreement shall be binding upon and inure to the benefit of any successor or successors of the Company. 

3

 

        (e)   The
interpretation, performance and enforcement of this Option Agreement shall be governed by the laws of the State of Delaware. 

        IN
WITNESS WHEREOF, the Company has, as of the date and place first above written, caused this Agreement to be executed on its behalf by its President or any Vice President, attested to
by any Vice President, and Optionee has hereunto set his hand as of the date and place first above written, which date is the date of grant of this Option. 

	 	 	COMPAQ COMPUTER CORPORATION
	

 	
 	

By	

 
	 	 	 	(Printed Name)
	

 	
 	

 	

(Title)
	

 	
 	

 	

"COMPANY"
	

ATTEST:	
 	

 	

 
	

 	
 	

 	

(Printed Name)
	

 	
 	

 	

"OPTIONEE"
	 	 	Address:

4

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Exhibit 10(s)(s)

COMPAQ COMPUTER CORPORATION NONQUALIFIED STOCK OPTION AGREEMENT

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