Document:

Exhibit 10.1

GENERAL WAIVER AND RELEASE AGREEMENT

1.             I understand that my employment
with Hewlett-Packard Company (HP) will end September 28 2006 pursuant to my
voluntary resignation and that I will receive the equity treatment  set forth in the attached Benefits Summary
Upon Resignation (Summary) and other terms as set forth in this agreement only
if I sign and do not revoke this General Waiver and Release Agreement (“Agreement”).  I understand and agree that the terms of the
Summary are incorporated by reference in this Agreement and are intended to
supersede and extinguish any other obligation HP may have to pay me severance
or other benefits upon termination, including but not limited to any agreements
or understandings, whether oral or written, made at any time prior to the date
of this Agreement.

2.             In exchange for HP’s doing the acts
described herein, I completely release and forever discharge HP, its past,
present and future successors, officers, directors, agents, and employees, from
all claims, damages (including but not limited to general, special, punitive,
liquidated and compensatory damages) and causes of action of every kind, nature
and character, known or unknown, in law or equity, fixed or contingent, which I
may now have, or I ever had arising from or in any way connected with my
employment relationship or the termination of my employment with HP. This
release includes, but is not limited to, all “wrongful discharge” claims, all
claims relating to any contracts of employment express or implied, any covenant
of good faith and fair dealing express or implied, any tort of any nature, any
federal, state, or municipal statute or ordinance, any claims for employment
discrimination, including sexual harassment, any claims under the California
Fair Employment and Housing Act, the California Labor Code, Title VII of the
Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act
(“ADEA”), the Older Workers Benefit Protection Act, 42 U.S.C. Section 1981, the
Worker Adjustment and Retraining Notification Act, the Employee Retirement
Income Security Act (ERISA) and any other laws and regulations relating to
employment, and any and all claims for attorney’s fees and costs. I understand
that this release does not apply to any claims arising under the ADEA after the
effective date of this Agreement.

HP
acknowledges and agrees that  nothing
in  this Agreement is intended to release
claims for vested benefits  under HP’s
benefit plans, any rights to benefits under applicable workers’ compensation
statutes or government-provided unemployment benefits, any claims arising under
federal or state securities, employment discrimination or other laws which do
not seek personal monetary or other relief personal to me, any rights to
enforce this Agreement, any rights to indemnity or the advancement of attorneys’
fees or expenses, or any claims relating to the validity of this Release under
the Age Discrimination in Employment Act, as amended.

3.             I agree to return to HP all HP
computers, peripherals, supplies, equipment, confidential and proprietary
information and other property; provided however that HP agrees to provide a
copy of such materials that I may reasonably designate as necessary to defend
myself in matters related to my employment with HP. I understand and agree
that, as an express condition of receiving the benefits of this Agreement, I
will not disclose to others, or take or use for my own purposes or for the
purposes of others, any Information owned or controlled by HP or any of its
subsidiary or affiliated companies, other than as provided herein. I agree that
these restrictions shall also apply to all (i) Information in HP’s possession
belonging to third parties, and (ii) 

Information
conceived, originated, discovered or developed, in whole or in part, by me
while an employee of HP.  As used herein,
“Information” includes trade secrets and other confidential or proprietary
business, technical, personnel or financial information, whether or not my work
product, in written, graphic, oral or other tangible or intangible forms,
including but not limited to specifications, samples, records, data, computer
programs, drawings, diagrams, models, customer names, business or marketing
plans, studies, analyses, projections and reports, communications by or to
attorneys (including attorney-client privileged communications), memos and
other materials prepared by attorneys or under their direction (including
attorney work product), and software systems and processes. Any Information
that is not readily available to the public shall be considered to be a trade
secret and confidential property, even if it is not
specifically marked as such, unless HP advises me otherwise in writing. This
paragraph shall not apply to any Information which becomes publicly available
through no fault of my own or which HP in writing authorizes me to use or
disclose.

In addition, I agree to abide by the terms of
any confidentiality and/or proprietary information agreement that I have
entered into with HP, the terms of which shall continue in full force and
effect notwithstanding this Agreement.

4.             To
the extent doing so is consistent with the exercise of my rights under the
federal and state Constitutions, I agree that I will cooperate with the Company
in connection with any internal investigation, and the defense or prosecution
of any claim that may be made against or by the Company (with the exception of
any claims that may be asserted by the Company against me), or in connection
with any ongoing or future investigation or dispute or claim of any kind
involving the Company, including any proceeding, civil or criminal, before any
arbitral, administrative, judicial, legislative, or other body or agency,
including testifying in or in connection with any proceeding, to the extent
such claims, investigations or proceedings relate to services performed or
required to be performed by me, pertinent knowledge possessed by me, or any act
or omission by me.  If such cooperation
is consistent with the foregoing conditions, including my decision to assert my
Constitutional rights, I further agree: 
(1) to perform all acts and to execute and deliver any documents that
may be reasonably necessary to carry out the provisions of this Agreement; (2)
to permit the Company’s counsel to interview me on one or more occasions
pertaining to such matters at a mutually agreeable time and place; and (3) in
connection with the interviews contemplated by this Agreement, to execute an
affidavit or a written declaration setting forth information provided by me in
the interviews.  The Company and I
anticipate that I may be deposed subsequent to the execution of this
Agreement.  If the Company requests my
deposition, I agree to appear for such deposition at a mutually-agreeable time
and location.  If I attend the deposition
at the request of the Company or I am otherwise required to attend a
deposition, the Company agrees to reimburse me for the reasonable expenses
incurred by me in attending such a deposition. 
The Company further agrees that the payments and benefits provided in
the attached Benefits Summary Upon Resignation will not be withheld or revoked
if I choose to assert my federal or state Constitutional rights, including the
invocation of my Constitutional rights with respect to any meetings,
depositions or interviews.

5.             In
furtherance of my legal, moral and social obligations, I agree that any
information and evidence I provide in any governmental investigation or
litigation, will be accurate, and truthful information and testimony.  I acknowledge and understand that, by
agreeing to enter into this 

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Agreement, the Company seeks only to obtain
complete, accurate, and truthful information and testimony from me, consistent
with my rights under the federal and state Constitutions, and nothing
more.  The Company acknowledges and
agrees that my obligations under paragraph 4 above concerning cooperation, and
my rights under paragraphs 6 and 7 below concerning indemnification and
advancement of expenses are not to be construed as inconsistent with this
paragraph.

6.             The Company agrees to indemnify me to
the fullest extent permitted by the Company’s bylaws and applicable law to
include but not limited to Section 2802 of the California Labor Code.   The parties acknowledge that a proper
request has been made pursuant to paragraph 6.2 of the By-laws.  The Company further acknowledges  that, based on its understanding of the
information it currently possesses about my actions and conduct as an employee
and attorney for the Company, it is not aware of any facts which suggest that I
am not fully entitled to be indemnified for my conduct.   Nothing in this Agreement shall modify, or
be interpreted to modify, the application or applicability of any law,
document, or authority relating to indemnification.

7.             Pursuant
to Paragraph 6 of this Agreement and subject to execution of the Undertaking
executed concurrently herewith, the Company agrees to advance Expenses actually
and reasonably incurred by me in connection with any Proceeding  provided I acted
in good faith and in a manner I reasonably believed to be in or not opposed to
the best interests of the Company and, with respect to any criminal action or
proceeding, I had reasonable cause to believe my conduct was lawful.  The Company’s agreement to advance attorneys’
fees and costs is subject to appropriate periodic review.  Should the Company determine that I am  not entitled to advancement by the Company,
the Company, subject to review by a Court of competent jurisdiction, may cease
to advance the attorneys’ fees and expenses. 
Moreover, should it be determined that I am not entitled to
indemnification by the Company, the Company may seek to recover any advanced
Expenses.

For purposes
of this Paragraph, the following definitions shall apply:

i.                                          “Expenses” shall include, without limitation,
actually and reasonably incurred attorneys’ fees, court costs, transcript
costs, fees of experts and witnesses, travel expenses, duplicating costs,
telephone charges, postage, delivery service fees, and all other expenses of
the types customarily incurred in connection with prosecuting, defending,
preparing to prosecute or defend, investigating, or being or preparing to be a
witness or other participant in a Proceeding.

ii.                                       “Proceeding” includes any action,
investigation, suit, arbitration, alternative dispute resolution mechanism,
administrative hearing or other proceeding, whether civil, criminal,
administrative or investigative in nature.

8.             As a condition precedent to the
receipt of any benefits under this Agreement, I agree that for a period of
twelve months immediately following the termination of my employment with HP, I

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will not
directly or indirectly, induce or attempt to influence any employee of HP to
leave its employ.  I agree that HP would
suffer an irreparable injury if I were to breach the covenants contained in
this paragraph and that HP would by reason of such breach or threatened breach
be entitled to injunctive relief in a court of appropriate jurisdiction and I
hereby stipulate to the entering of such injunctive relief prohibiting me from
engaging in such conduct.

9              I understand and agree that I
fully and forever waive any and all rights and benefits conferred upon me by
the provisions of Section 1542 of the Civil Code of the State of California,
which states as follows:

A general release does not extend to
claims which the creditor does not know or suspect to exist in his favor at the
time of executing the release, which if known by him must have materially
affected his settlement with the debtor.

Notwithstanding
the provisions of Section 1542, except as provided herein, I agree that this
Agreement shall be a full and complete general release.  I further understand and agree that I may
hereafter discover claims or facts different from or in addition to those which
I now know or believe to exist, and which, if known or suspected at the time of
entering into this Agreement, may have materially affected this Agreement.  Nevertheless, the waiver in this Agreement
shall be and remain effective in all respects notwithstanding such different or
additional facts or the discovery thereof. 
Notwithstanding the foregoing, nothing in this paragraph or elsewhere in
this Agreement shall be construed as a waiver of any rights created by this
Agreement.

10.           I
agree that I will not make any disparaging or untruthful remarks or statements
about the Company, nor make any derogatory statements concerning the Company,
its officers, directors, or employees, whether acting in their individual or
representative capacity.  The Company
will not disparage or otherwise make any untruthful derogatory remarks or
statements concerning me.  Nothing in
this Paragraph shall in any way limit the ability of myself or the Company or
its officers, directors, employees to respond to or cooperate with any
government inquiry or investigation or to give truthful testimony as required
by law.

11.           Except
as provided below, the Company hereby releases and forever discharges me from
any known and unknown claims and causes of action that it may have against me
that in any matter arise out of or are in any way connected with my employment
with the Company or my departure from the Company, including any and all
liabilities, claims, demands, contracts, debts, obligations, and causes of
action of every nature, kind, and description, in law, equity, or
otherwise.  Except as provided below, the
Company understands and agrees that it fully and forever waives any and all
rights and benefits conferred upon it by the provisions of Section 1542 of the
Civil Code of the State of California, which states as follows:

A
general release does not extend to claims which the creditor does not know or
suspect to exist in his favor at the time of executing the release, which if
known by him must have materially affected his settlement with the debtor.

Notwithstanding the provisions of Section 1542,
except as provided herein, the Company agrees that this Agreement shall be a
full and complete general release.  It
further understands and 

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agrees that it may hereafter discover claims or
facts different from or in addition to those which it now knows or believes to
exist, and which, if known or suspected at the time of entering in to this
Agreement, may have materially affected this Agreement.  Nevertheless, the waiver in this Agreement
shall be and remain effective in all respects notwithstanding such different or
additional facts or the discovery thereof. 
Notwithstanding the foregoing, nothing in this paragraph or elsewhere in
this Agreement shall be construed as a waiver of any rights created by this
Agreement.  The Company further agrees to
pay reasonable attorneys’ fees incurred by you in connection with negotiating
this agreement.

12.           I have not relied on any
representations or statements not set forth in this Agreement with regard to
the subject matter, basis or effect of this Agreement or otherwise. This
Agreement may only be amended in writing, signed by me and one of HP’s Deputy
General Counsel.

13.           I understand and agree that I:

a.                                       Have a full twenty-one (21) days in which to
consider this Agreement before executing it, although it may be executed at any
time within that period;

b.                                      Have carefully read and fully understand all of
the provisions of this Agreement;

c.                                       Am, through this Agreement, releasing HP from any
and all claims I may have against HP, other than as provided herein;

d.                                      Knowingly and voluntarily agree to all of the
terms set forth in this Agreement;

e.                                       Knowingly and voluntarily intend to be legally
bound by the same;

f.                                         Am hereby advised in writing to consider the
terms of this Agreement and have consulted with an attorney prior to executing
this Agreement;

g.                                      Have a full seven (7) days following the
execution of this Agreement to revoke this Agreement, and that any such
revocation must be in writing and must be received by one of HP’s Deputy General
Counsel no later than the last day of the applicable revocation period, are
hereby advised in writing that this Agreement shall not become effective or
enforceable until the revocation period has expired; and

h.                                      Understand that rights or claims under the ADEA that may
arise after the date this Agreement is executed are not waived.

14.           It is agreed that
nothing contained in this Agreement shall constitute or be treated as an
admission of any wrongdoing, liability or violation of the law by the Parties
and shall not be admissible in any proceeding as evidence of or an admission by
either party of any violation of any law or regulation or of any liability
whatsoever to the other Party. 
Notwithstanding the foregoing, this Agreement may be introduced into a
proceeding solely for the purpose of enforcing the Agreement.

15.           The Confidentiality
and Non-Disparagement provisions in this Agreement are material terms which, if
breached, could cause the Parties to suffer irreparable harm for which damages
would be an inadequate remedy. 
Therefore, upon any such breach or threat thereof, either Party shall be
entitled to injunctions and other appropriate equitable relief, in addition to
whatever remedies it may have at law.

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16.           HP agrees that the
consideration being provided to me under this agreement is confidential and
that it shall not disclose said consideration to persons outside HP; provided,
however, that nothing herein shall prohibit or restrict HP (or its attorneys)
from making disclosures relating to this agreement as required by law, from
responding to any inquiry, or providing testimony, about the fact or terms of
this agreement, the consideration being provided to me, or the facts and
circumstances underlying this Agreement, before the United States Congress, the
Securities and Exchange Commission (SEC), or any other federal or state
regulatory or law enforcement authority or as required by law, or prohibit or
restrict HP from disclosing the terms of this Agreement to its attorneys or
accountants; or prohibit HP from disclosing the terms of this Agreement in any
litigation brought to enforce any obligations created by this Agreement.

17.           This Agreement, the
Undertaking, the Benefits Summary Upon Resignation and any agreements regarding
confidential and proprietary information that I executed constitute an
integrated, written contract, expressing the entire agreement between the
Parties with respect to the subject matter hereof.  The Parties agree that they are not relying
on any promises or representations, which do not appear herein.  The Parties also agree that this Agreement
shall supersede and render null and void any and all other prior agreements,
implied, oral or written, between them, except as otherwise stated herein.  This Agreement can be amended or modified
only by a written agreement, signed by all of the Parties hereto.

18.           If any provision, or
portion of a provision, of this Agreement is held to be invalid, void or
unenforceable for any reason, the remainder of this Agreement shall remain in
full force and effect, as if such provision, or portion of provision, had never
been contained herein.  The
unenforceability or invalidity of a provision of this Agreement in one
jurisdiction shall not invalidate or render that provision unenforceable in any
other jurisdiction.

19.           This Agreement is
made and entered into in the State of California, and shall in all respects be
interpreted, enforced and governed under the laws of said State.  The language of all parts of this Agreement
shall in all cases be construed as a whole, according to its fair meaning, and
not strictly for or against any of the Parties.

20.           Any controversy or
dispute involving the construction or application of any terms, covenants or
conditions of this Agreement, or any claims arising out of or relating to this
Agreement or the breach thereof will be submitted to and settled by final and
binding arbitration in Santa Clara county, 
California under the auspices of JAMS, and the parties hereto submit to
the in personam jurisdiction of such
tribunal and waive any objection that such forum is inconvenient or otherwise
improper.  The Company agrees to pay the
expenses of the Arbitration, including the fees of the Arbitrator, who shall be
mutually agreed upon by the Parties.  The
Parties further understand and agree that the arbitration shall be instead of
any civil litigation and that the arbitrator’s decision shall be final and
binding to the fullest extent permitted by law and enforceable by any court
having jurisdiction thereof.  Notwithstanding
the foregoing, either Party may seek in Court a Preliminary Injunction to
enforce the provisions of this Agreement.

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21.           It is expressively
understood and agreed by the Parties that this Agreement and all of its terms
shall be binding upon each Parties’ representatives, heirs, executors,
administrators, successors and assigns.

22.           Each of the Parties
represents and warrants that, as of the Effective Date, she or it has the sole
right and authority to execute this Agreement, and she or it has not sold,
assigned, transferred, conveyed or otherwise disposed of any claims or demands
relating to any right surrendered by virtue of this Agreement.  Each of the Parties and its signatory
represents that the signatory is fully authorized to execute this Agreement on
behalf of, the party for whom he signs.

23.           Each of the Parties
hereby acknowledge that they have read and understand the terms and conditions
of this Agreement, have had the opportunity to consult with counsel, and that
they sign this Agreement voluntarily, without coercion, and based upon their
own judgment and not in reliance upon any representations or promises made by
the other Parties or their counsel other than those contained within this
Agreement.  The Parties further agree
that if any of the facts or matters upon which they now rely in making this
Agreement hereafter prove to be otherwise, this Agreement will nonetheless
remain in full force and effect.

24.           I understand that taxes which may
become due as a result of any payment or transaction contemplated by this
Agreement including the attached Summary are my sole responsibility, and I
further agree to hold HP harmless on account thereof.  In addition, I agree that taxes which
are due but unpaid may be setoff against any sums due under this Agreement to
the maximum extent allowed by law.

I HAVE BEEN
ADVISED TO DISCUSS ALL ASPECTS OF THIS AGREEMENT WITH AN ATTORNEY AND OTHER
ADVISORS OF MY CHOICE, AND HAVE IN FACT DONE SO. I HAVE CAREFULLY READ AND
FULLY UNDERSTAND ALL THE PROVISIONS OF THIS AGREEMENT AND I VOLUNTARILY AGREE
TO IT.

	
  /s/ Ann O. Baskins

  	
   

  
	
  Ann O. Baskins

  
	
   

  
	
  Date:

  	
  September 28, 2006

  	
   

  
	
   

  
	
   

  
	
  Accepted and Agreed

  
	
   

  
	
  HEWLETT-PACKARD COMPANY

  
	
   

  
	
  /s/ Charles N. Charnas

  	
   

  
	
  By: Charles N. Charnas

  
	
  Vice-President , Deputy General Counsel and Assistant Secretary

  
			

 

 7Exhibit 10.2

	
  James Otieno 

  	
  Hewlett-Packard Company

  	
  

  
	
  VP, Executive Compensation and Services

  	
  3000 Hanover Street, ms 1025

  
	
   

  	
  Palo Alto, CA 
  94304

  
	
   

  	
  www.hp.com

  

 

	
  To:

  	
   

  	
  Ann O. Baskins

  	
   

  	
  Date:

  	
   

  	
  September 28, 2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  From:

  	
   

  	
  James Otieno

  	
   

  	
  Subject:

  	
   

  	
  Benefits Summary Upon Resignation

  

 

	
  Employee Name:

  	
  Ann O. Baskins

  
	
  Hire
  Date:

  	
  01/11/82

  	
   

  	
   

  
	
  Termination
  Date:

  	
  09/27/2006

  	
   

  

 

The following is a
summary of benefits, payments, and other consideration which will be provided
to you upon your voluntary resignation.

o            Termination Date: September 28, 2006.

o            Equity:

o            Stock Options: 

·                  You will have
until the close of the market on November 22, 2006 to exercise your options
that are vested as of September 28, 2006.

·                  In addition,
your unvested outstanding stock options as of September 28, 2006 will expire on
November 22, 2006. On November 20, 2006, the vesting of a number of your
unvested outstanding stock options, beginning with the stock options with the
lowest exercise price and continuing with stock options having increasingly
higher exercise prices, will be accelerated so that the aggregate intrinsic
value of the accelerated stock options equals $1 million on November 20,
2006.  The intrinsic value of an
accelerated option is equal to the excess of the average of the high and low
prices of a share of the Company’s common stock on November 20, 2006 over the
exercise price of such accelerated option. You will have until the close of the
market on November 22, 2006 to exercise such accelerated options.

·      If the structure or timing of the stock
option treatment causes or would cause you to incur penalties, fines, or
extraordinary tax consequences under Section 409A of the Internal Revenue Code,
and any or all of such negative consequences can be cured by restructuring the
equity payment but without any additional financial consequences to HP, the
parties agree to restructure the stock option treatment in good faith and
within reason to cure such curable negative consequences, and to do so by
amending this Agreement promptly, on your request.  You will notify HP in care of Charles N.
Charnas at charles.charnas@hp.com of any request to restructure no later than
Noon Pacific time, September 29, 2006.

o            Restricted Stock: Upon termination all shares of restricted
stock will be forfeited.

 1
 

 

 

o            Benefits: You will receive a payout of any accrued
retirement benefits that are applicable, this includes: 401k savings and US
Pension Benefits (including but not limited to the HP Excess Benefit Plan).   Please
note that you may be able to rollover some of the retirement payouts into a
qualified account to preserve favorable tax treatment.  In addition, you will receive a cash payment
of the balance of your unused vacation time.

o            Computer Equipment:  Office and home equipment (laptop, home pc, printer etc.) must be
returned to HP upon your termination.

o            Health:  You are
eligible to participate in HP’s continued Group Medical through COBRA for up to
18 months.

o            Release and Waiver of Claims:  As a condition to receiving these terms, you
must sign a general waiver and release agreement.

Ann, above are the
essential terms of the agreement between you and HP concerning the termination
of your employment.  There will be no
other payments to you other than those specified above.

I hereby resign as of the
resignation date above.

Ann, please sign below to indicate your agreement with
the terms and conditions set forth in this document.

	
  

  	
   

  	
  Hewlett-Packard
  Company

   

   

  
	
  /s/ Ann O. Baskins

  	
   

  	
  /s/ Charles N. Charnas

  
	
  Ann O. Baskins

  	
   

  	
  By: Charles N. Charnas

  
	
   

  	
   

  	
  Vice President,
  Deputy General Counsel and Assistant Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date:

  	
  September 28,
  2006

  	
   

  	
  Date:

  	
  September 28,
  2006

  
					

 

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Other
Termination Benefits:

This summary table is intended to provide
summary information only.  The terms of
your agreement and applicable plan documents/plan notices govern.

	
  Program

  	
   

  	
  Benefit

  	
   

  	
  Comments

  
	
  Health

  
	
  Medical

  	
   

  	
  ·  UHC Core $1,200 Deductible PPO (You Only)

  	
   

  	
  ·  Coverage ends on date of termination, but
  can be continued for up to 18 months under COBRA. 

  ·  Current COBRA premium for You Only is
  $341.41/month. Costs are subject to increase annually effective each January
  1. 

  ·  A COBRA packet will be mailed to you from
  the HP Benefits Center. 

  ·  To enroll in COBRA or ask questions about
  your coverage, please call the HP Benefits Center at 1-800-890-3100 (choose
  the “Benefits Center” option)

  
	
  Dental

  	
   

  	
  ·  HP Dental Plan (You Only)

  	
   

  	
  ·  Coverage ends on date of termination, but
  can be continued for up to 18 months under COBRA. 

  ·  Current COBRA premium for You Only is
  $38.90/month. Costs are subject to increase annually effective each January
  1. 

  ·  A COBRA packet will be mailed to you from
  the HP Benefits Center. To enroll in COBRA or ask questions about your
  coverage, please call the HP Benefits Center at 1-800-890-3100 (choose the
  “Benefits Center” option)

  
	
  Vision

  	
   

  	
  ·  HP Vision Plan (You Only)

  	
   

  	
  ·  Coverage ends on date of termination, but
  can be continued for up to 18 months under COBRA. 

  ·  Current COBRA premium for HP Vision Plan for
  You Only is $11.51/month. Costs are subject to increase annually effective
  each January 1. 

  ·  A COBRA packet will be mailed to you from
  the HP Benefits Center. 

  ·  To enroll in COBRA or ask questions about
  your coverage, please call the HP Benefits Center at 1-800-890-3100 (choose
  the “Benefits Center” option)

  

 

 3
 

 

 

	
  Employee Life Insurance

  	
   

  	
  ·  1 x Pay ($500,000)

  	
   

  	
  ·  Coverage ends 31 days following your date of
  termination. 

  ·  Portable term life insurance coverage can be
  continued or converted to an individual policy through Prudential. 

  ·  Applications for porting life insurance
  coverage or converting life insurance coverage will automatically be mailed
  to you after termination. 

  ·  Applications must be completed and submitted
  within 60 days of termination.

  
	
  Employee AD&D

  	
   

  	
  ·  1 x Pay ($500,000)

  	
   

  	
  ·  Coverage ends on date of termination. 

  ·  Portable term AD&D coverage can be
  continued directly through Prudential. 

  ·  Application for portable AD&D coverage
  will automatically be mailed to you after termination. 

  ·  Application must be completed and submitted
  within 60 days of termination. 

  ·  In order to continue AD&D insurance
  coverage, you must also continue life insurance coverage.

  
	
  LTD Dependent Health Continuation

  	
   

  	
  ·  60% of Pay

  	
   

  	
  ·  Coverage ends upon termination.

  ·  Conversion option not available for this
  plan.

  
	
  Other
  Benefits

  
	
  HP 401(k) Plan

  	
   

  	
  ·  Total Balance* as of 9/26/06 is $432,767.71;
  100% Vested 

   

  *  Balance may change due to market fluctuation.

  	
   

  	
  ·  Account will be available for a distribution
  or could remain in the Plan until as late as age 70.5.

  
	
  HP Retirement Plan

  	
   

  	
  ·  Estimated lump sum of $199,646 or monthly
  annuity of $1,075 with commencement date of 10/01/2006.

  	
   

  	
  ·  Balance is fully vested. 

  ·  This money will be payable as lump sum or
  annuity following termination or could remain in the Plan until as late as
  age 70.5.

  
	
  HP Deferred Profit Sharing Plan

  	
   

  	
  ·  Estimated lump sum of $203,296 or monthly
  annuity of $1,094 with commencement date of 10/01/2006.

  	
   

  	
  ·  Balance is fully vested. 

  ·  This money will be payable as lump sum or
  annuity following termination or could remain in the Plan until as late as
  age 70.5.

  

 

 4
 

 

 

	
  Excess Benefit Plan (the nonqualified portion of the
  HP Retirement Plan)

  	
   

  	
  ·  Estimated lump sum of $946,210 payable as a
  lump sum April 2007.

  	
   

  	
  ·  Balance is fully vested. 

  ·  This money will be paid as a lump sum the
  seventh month following termination (April 2007).

  
	
  Vacation Accrual Payout

  	
   

  	
  ·  Accrued hours not taken will be paid out at
  termination (refer to final pay stub).

  	
   

  	
  ·  Accrued hours not taken will be paid out at
  termination (refer to final pay stub).

  
	
  Computer Equipment

  	
   

  	
  ·  All office and home office equipment must be
  returned to HP

  

 

REMEMBER TO UPDATE
YOUR ADDRESS

All future payments,
benefit information and communications will be sent to the home address on file
at Hewlett Packard. If your home address changes, you must complete and submit
a Change of Address form to HP. Having your current address on file will help
to ensure that payments and important communications are received.

 

 5

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