Document:

EXHIBIT 4.3

            

            
            THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
            THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR
            A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A
            SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
            REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF,
            EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

            

            
            UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
            REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
            (“DTC”) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE
            OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
            SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
            IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
            REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
            BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
            CO., HAS AN INTEREST HEREIN.

            

            
                 

            
            HEWLETT-PACKARD COMPANY

            
            5.50% Global Notes due March 1, 2018

            

            
            

            	No.
                    ________________	
                    	
                        
                        $__________________

                    
	CUSIP No.
                    428236 AS
                    2

            

            
                       
            Hewlett-Packard Company, a corporation duly organized and existing under the laws of
            Delaware (herein called the “Company,” which term includes any successor
            Person under the Indenture hereinafter referred to), for value received, hereby
            promises to pay to Cede & Co., or registered assigns, the principal sum
            of ____________________ Dollars ($_____________) or such other amount indicated on the
            Schedule of Exchange of Global Notes attached hereto on March 1, 2018 (if such date is
            not a Business Day, payment of principal, premium, if any, and interest for the
            Securities will be paid on the next Business Day; provided, however, that no interest
            on that payment will accrue from and after March 1, 2018, and to pay interest thereon
            from March 3, 2008, or from the most recent Interest Payment Date to which interest has
            been paid or duly provided for, semi-annually on March 1 and September 1 in each year,
            commencing September 1, 2008, at the rate of 5.50% per annum, until the principal
            hereof is paid or made available for payment. The interest so payable, and punctually
            paid or duly provided for, on any Interest Payment Date will, as provided in such
            Indenture, be paid to the Person in whose name this Security (or one or more
            Predecessor Securities) is registered at the close of business on the Regular Record
            Date for such interest, which shall be the fifteenth day (whether or not a Business
            Day), next preceding such Interest Payment Date. Any such interest not so punctually
            paid or duly provided for will forthwith cease to be payable to the Holder on such
            Regular Record Date and may either be paid to the Person in whose name this Security
            (or one or more Predecessor Securities) is registered at the close of business on a
            Special Record Date for the payment of such Defaulted Interest to be fixed by the
            Trustee, notice whereof shall be given to Holders of Securities of this series not less
            than 10 days prior to such Special Record Date, or be paid at any time in any other
            lawful manner not inconsistent with the requirements of any securities exchange on
            which the Securities of this series may be listed, and upon such notice as may be
            required by such exchange, all as more fully provided in said Indenture. Interest on
            the Security shall be computed on the basis of a 360-day year of twelve 30-day months,
            and for any period shorter than a full six-month interest period, on the basis of the
            actual days elapsed in such period.

            

            
            So long as all of the Securities of this series are
            represented by Global Securities, the principal of, premium, if any, and interest, if
            any, on this Global Security shall be paid in same day funds to the Depositary, or to
            such name or entity as is requested by an authorized representative of the Depositary.
            If at any time the Securities of this series are no longer represented by the Global
            Securities and are issued in definitive form (“Certificated Securities”),
            then the principal of, premium, if any, and interest, if any, on each Certificated
            Security at Maturity shall be paid to the Holder upon surrender of such Certificated
            Security at the office or agency maintained by the Company in the Borough of Manhattan,
            The City of New York (which shall initially be the principal corporate trust office of
            The Bank of New York Trust Company, N.A., as Trustee) or at such other place or places
            as may be designated in or pursuant to the Indenture, provided that such Certificated
            Security is surrendered to the Trustee, acting as Paying Agent, in time for the Paying
            Agent to make such payments in such funds in accordance with its normal procedures.
            Payments of interest with

            
             

            
            
            

            
            respect to Certificated Securities other than at Maturity
            may, at the option of the Company, be made by check mailed to the address of the Person
            entitled thereto as it appears on the Security Register on the relevant Regular or
            Special Record Date or by wire transfer in same day funds to such account as may have
            been appropriately designated to the Paying Agent by such Person in writing not later
            than such relevant Regular or Special Record Date.

            

            
            Reference is hereby made to the further provisions of
            this Security set forth on the reverse hereof, which further provisions shall for all
            purposes have the same effect as if set forth at this place.

            

            
            Unless the certificate of authentication hereon has been
            executed by the Trustee referred to on the reverse hereof by manual signature, this
            Security shall not be entitled to any benefit under the Indenture or be valid or
            obligatory for any purpose.

            

            
            
            

            
             

            
            IN WITNESS WHEREOF, the Company has caused this
            instrument to be duly executed.

            
            

            	
                    	
                    	HEWLETT-PACKARD COMPANY
	
                    	 	
                    	
                    
	
                    	
                    	By: 	__________________________________
	
                    	
                    	
                    	Kenneth J. Frier

                    Vice President and Assistant Treasurer
	
                    	 	
                    	
                    
	Attest:	________________________________	
                    	
                    
	
                    	Michael J. Holston

                    Executive Vice President, General Counsel

                    and Secretary	
                    	
                    
	
                    	 

                    	
                    	
                    
	Trustee’s
                    Certificate of Authentication.	
                    	
                    
	
                    	 	
                    	
                    
	
                        This is one of the Securities of the series designated

                        

                        
                        
                        herein referred to in the within-mentioned Indenture.

                    	
                    	
                    
	
                    	 	
                    	
                    
	Dated:	
                    	
                    	
                    
	
                    	 	
                    	
                    
	THE BANK OF NEW YORK
                    TRUST

                    COMPANY, N.A., as Trustee	
                    	
                    
	
                    	 	
                    	
                    
	
                    	 	
                    	
                    
	By:	________________________________	
                    	
                    
	
                    	Authorized Signatory

            

            

            
            
            

            

            
            Reverse of Security

            

            
            This Security is one of a duly authorized issue of
            securities of the Company (herein called the “Securities”), issued and to
            be issued in one or more series under an Indenture, dated as of June 1, 2000
            (herein called the “Indenture,” which term shall have the meaning assigned
            to it in such instrument), between the Company and The Bank of New York Trust Company,
            N.A. (as successor to J.P. Morgan Trust Company, National Association, as successor to
            Chase Manhattan Bank and Trust Company, National Association), as trustee (herein
            called the “Trustee,” which term includes any successor Trustee under the
            Indenture), and reference is hereby made to the Indenture and all indentures
            supplemental thereto for a statement of the respective rights, limitations of rights,
            duties and immunities thereunder of the Company, the Trustee and the Holders of the
            Securities and of the terms upon which the Securities are, and are to be, authenticated
            and delivered. This Security is one of the series designated on the face hereof
            initially limited in aggregate principal amount to $750,000,000.

            

            
            The Company will have the right to redeem the Securities,
            in whole or in part on at least 30 days’ but no more than 60 days’ prior
            written notice mailed to the registered Holders of the Securities to be redeemed. The
            Redemption Price will be equal to the greater of (1) 100% of the principal amount of
            the Securities to be redeemed and (2) the sum of the present value of the principal
            amount of the Securities to be redeemed and the remaining scheduled payments of
            interest thereon from the Redemption Date to the Maturity Date discounted from the
            scheduled payment dates to the Redemption Date on a semi-annual basis at the treasury
            rate plus 30 basis points, plus accrued and unpaid interest on the principal amount
            being redeemed to, but excluding, the Redemption Date.

            
            If money sufficient to pay the Redemption Price of and
            accrued interest on the Securities (or portions thereof) to be redeemed on the
            Redemption Date is deposited with the Trustee or Paying Agent on or before the
            Redemption Date and the conditions set forth in Article 11 of the Indenture are
            satisfied, then on and after the Redemption Date, interest will cease to accrue on such
            Securities (or such portion thereof) called for redemption and such Securities will
            cease to be outstanding. If any Redemption Date is not a Business Day, the Company will
            pay the Redemption Price on the next Business Day without any interest or other payment
            due to the delay.

            
            If fewer than all of the Securities of a series are to be
            redeemed, the Trustee will select the Securities of such series for redemption on a pro
            rata basis, by lot or by such other method as the Trustee deems appropriate and fair.
            No Securities of $2,000 or less will be redeemed in part.

            

            
            Unless the Company defaults in the payment of the
            Redemption Price, no interest will accrue on the Securities called for redemption for
            the period from and after the Redemption Date.

            

            
            In the event of redemption of this Security in part only,
            a new Security or Securities of this series and of like tenor for the unredeemed
            portion hereof will be issued in the name of the Holder hereof upon the cancellation
            hereof.

            
             

            
            
            

            

            
            The Indenture contains provisions, which will apply to
            the Securities, for defeasance and covenant defeasance and Events of Default with
            respect to this Security, in each case upon compliance with certain conditions set
            forth in the Indenture.

            

            
            If an Event of Default with respect to Securities of this
            series shall occur and be continuing, the principal of the Securities of this series
            may be declared due and payable in the manner and with the effect provided in the
            Indenture.

            

            
            The Indenture permits, with certain exceptions as therein
            provided, the amendment thereof and the modification of the rights and obligations of
            the Company and the rights of the Holders of the Securities of each series to be
            affected under the Indenture at any time by the Company and the Trustee with the
            consent of the Holders of more than 50% in aggregate principal amount of the Securities
            at the time Outstanding of each series to be affected. The Indenture also contains
            provisions permitting the Holders of specified percentages in principal amount of the
            Securities of each series at the time Outstanding, on behalf of the Holders of all
            Securities of such series, to waive compliance by the Company with certain provisions
            of the Indenture and certain past defaults under the Indenture and their consequences.
            Any such consent or waiver by the Holder of this Security shall be conclusive and
            binding upon such Holder and upon all future Holders of this Security and of any
            Security issued upon the registration of transfer hereof or in exchange herefor or in
            lieu hereof, whether or not notation of such consent or waiver is made upon this
            Security.

            

            
            As provided in and subject to the provisions of the
            Indenture, the Holder of this Security shall not have the right to institute any
            proceeding with respect to the Indenture or for the appointment of a receiver or
            Trustee or for any other remedy thereunder, unless such Holder shall have previously
            given the Trustee written notice of a continuing Event of Default with respect to the
            Securities of this series, the Holders of not less than 25% in principal amount of the
            Securities of this series at the time Outstanding shall have made written request to
            the Trustee to institute proceedings in respect of such Event of Default as Trustee and
            offered the Trustee reasonable indemnity, and the Trustee shall not have received from
            the Holders of a majority in principal amount of Securities of this series at the time
            Outstanding a direction inconsistent with such request, and shall have failed to
            institute any such proceeding, for 60 days after receipt of such notice, request and
            offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder
            of this Security for the enforcement of any payment of principal hereof or any premium
            or interest hereon on or after the respective due dates expressed herein.

            

            
            No reference herein to the Indenture and no provision of
            this Security or of the Indenture shall alter or impair the obligation of the Company,
            which is absolute and unconditional, to pay the principal of and any premium and
            interest on this Security at the times, place and rate, and in the coin or currency,
            herein prescribed.

            

            
            The Securities of this series are issuable only in
            registered form without coupons in denominations of $2,000 and any integral multiples
            of $1,000 in excess thereof.

            
             

            
            
            

            

            
            This Security shall be deemed to be a contract made under
            the laws of the State of New York, and for all purposes shall be construed in
            accordance with and governed by the laws of said State, without regard to conflict of
            laws principles thereof.

            

            
            All terms used in this Security that are defined in the
            Indenture shall have the meanings assigned to them in the Indenture.

            
             

            
            
            

            

            
                 ASSIGNMENT

            
             

            
            

            	
                        
                        FOR VALUE
                        RECEIVED the undersigned hereby sells, assigns and transfers
                        unto:

                    	
                    	
                        
                        PLEASE INSERT
                        SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF

                    
	
                    	
                    	ASSIGNEE:________________________
	
                    
	

                    __________________________________________________________________________
	

                    __________________________________________________________________________
	(Please print or
                    typewrite name and address including postal zip code of assignee)
	

                    __________________________________________________________________________
	the within Global
                    Security of HEWLETT-PACKARD COMPANY and all rights hereunder, hereby
                    irrevocably constituting and appointing

                    

                    
	
                        
                        __________________________________________________________________________________attorney

                    
	to transfer said
                    Global Security on the books of the within-named Company, with full power of
                    substitution in the premises.
	
                    
	 
	Dated:__________________________

                    

                    	
                    	
                    
	
                        
                         

                    	
                        SIGN HERE

                    	_____________________________
	
                    	
                    	NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST
                    CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN
                    EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

                    

                    SIGNATURE GUARANTEED

            

            

            

            
            
            

            
            SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
            NOTE

            
            The following increases or decreases in this Global Note
            have been made:

            

            

            	
                        
                        Date

                    	
                        
                        Amount of Decrease in Principal Amount of
                        this Global Note

                    	
                        
                        Amount of Increase in Principal Amount of
                        this Global Note

                    	
                        
                        Principal Amount of this Global Note
                        Following Such Decrease or Increase

                    	
                        
                        Signature of Authorized Signatory of
                        Trustee or Notes CustodianConverted by EDGARwiz

Exhibit 10.3

SUMMARY OF TRUSTEE COMPENSATION ARRANGEMENT

Northeast Utilities (“NU”) pays an annual retainer to each Trustee who is not employed by NU or its subsidiaries. NU pays an additional retainer to the Lead Trustee and the Chairs of each of the Audit, Compensation, Corporate Responsibility, Corporate Governance and Finance Committees. Each retainer is paid in four equal quarterly installments. NU pays one-half of the value of the retainers payable to the Chairs of each of the Audit and Compensation Committees in the form of NU common shares. The following table sets forth the amounts of non-employee Trustee retainers for 2008:

 

		
	Retainer

	Annual

Amount

	Annual Retainer (all Trustees) 

	$45,000

	Lead Trustee 

	$50,000

	Audit Committee Chair 

	$20,000

	Compensation Committee Chair 

	$15,000

	Corporate Responsibility Committee Chair 

	$7,500

	Corporate Governance Committee Chair 

	$7,500

	Finance Committee Chair 

	$10,000

During 2008, NU will pay each non-employee Trustee $1,500 for attendance in person or by telephone at each meeting of the full Board and each committee on which the Trustee serves.

Under the Northeast Utilities Incentive Plan, each non-employee Trustee is eligible to receive share-based grants during each calendar year. In January 2008, each non-employee Trustee was granted 3,000 Restricted Share Units (“RSUs”) under the Incentive Plan, all of which will vest and be distributed in equivalent NU common shares on January 10, 2009.

Before 2007, NU distributed common shares in respect of only one-half of RSUs granted to non-employee Trustees upon vesting. NU deferred the distribution of common shares with respect to the remaining one-half of the RSUs until four years after the vesting date, or if a Trustee terminates service on the Board for any reason before this distribution date, the month following the month in which a Trustee ceases to serve on the Board. In 2007, the Board adopted share ownership guidelines applicable to the non-employee Trustees and eliminated the distribution deferral provision for RSUs. However, Trustees were entitled to elect, on or before December 31, 2007, to make a new irrevocable election to continue the four-year deferral, by grant year. The share ownership guidelines require Trustees to attain ownership of 7,500 common shares and/or RSUs, which have a fair market value equal to approximately five times the value of the current annual retainer, by 2012.

Prior to the beginning of each calendar year, non-employee Trustees may irrevocably elect to receive all or any portion of their retainers and fees in the form of common shares. Pursuant to the Northeast Utilities Deferred Compensation Plan for Trustees, each Trustee may also irrevocably elect to defer receipt of all or a portion of cash and/or equity compensation, including RSUs issued under the Incentive Plan. Deferred funds are credited with interest at the rate set forth in Section 37-1 of the Connecticut General Statutes, which rate is currently 8.0%.  Deferred compensation is payable either in a lump sum or in one to five annual installments in accordance with the Trustee’s prior election.

 

A non-employee Trustee who performs additional Board-related services in the interest of NU or any of its subsidiaries upon the request of either the Board or the Chairman of the Board is entitled to receive additional compensation equal to $750 per half-day plus reasonable expenses. In addition, NU pays travel-related expenses for spouses of Trustees who attend Board functions. The Internal Revenue Service considers payment of travel expenses for a Trustee’s spouse to be imputed income to the individual Trustee.  As a result, NU provides each Trustee with a gross-up payment in an amount sufficient to pay the income tax liability for the imputed income attributable to such travel expenses.

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