This excerpt taken from the HPQ 10-K filed Jan 14, 2005.
FORM OF NONQUALIFIED STOCK OPTION NOTICE
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.
DIRECTOR KEY GRANT CONFIDENTIAL
DIRECTOR GRANT IN LIEU OF RETAINER CONFIDENTIAL