This excerpt taken from the HPQ 10-Q filed Jun 8, 2007.
3. A new Section 3.2 is added to read as follows:
New Hires. A Newly Hired Employee may elect within 30 days of becoming an Employee to defer base salary earned subsequent to the deferral election becoming effective and in the year of hire. Such an election shall become irrevocable and effective at the end of this 30-day period.