These excerpts taken from the HPQ 10-K filed Dec 18, 2008.
Restricted Stock Units
THIS STOCK NOTIFICATION AND AWARD AGREEMENT, as of the Grant Date noted above between Hewlett-Packard Company, a Delaware Corporation ("Company"), and the Director named above, is entered into as follows:
WHEREAS, HP has established the Hewlett-Packard Company 2000 Stock Plan (the "Plan"), a copy of which is attached hereto as Exhibit "A" and made part hereof; and
WHEREAS, The Director has filed an election in accordance with the terms of his/her service on the Company's Board of Directors to be granted a Restricted Stock Unit (RSU) Award under the Plan as hereinafter set forth below;
NOW THEREFORE, the parties hereby agree that in consideration of services rendered and to be rendered, HP grants the Director the number of RSUs set forth above upon the terms and conditions set forth herein.
deferred delivery of Shares may be accelerated under certain circumstances as set forth in the deferral election form.