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This excerpt taken from the HPQ DEF 14A filed Jan 27, 2010. Compensation Alternatives. Within (A) twenty-five (25) days after
the beginning of the Director Plan Year, or (B) if the Non-Employee Director
elects to participate in the Hewlett-Packard Company 2005 Executive Deferred
Compensation Plan (the “EDCP”) then in the calendar year preceding the first
day of the Director Plan Year, each Non-Employee Director may elect to receive
his Annual Equity Retainer in the form of restricted stock units (a “Director
RSU Award”) and or in the form of an option to purchase shares of Common Stock
(a “Director Option Award”). If any
Non-Employee Director fails to make such an election, then he shall be deemed
to have elected a Director RSU Award for the value of his Annual Equity
Retainer. Any such election, or any modification or termination of such an
election, shall be filed with HP on a form prescribed by HP for this
purpose. If a Non-Employee Director does
not elect to participate in the EDCP and does not select his or her means of
payment within the prescribed time, then such Non-Employee Director shall not
be permitted to participate in the EDCP for the applicable Director Plan Year.
(ii) |
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