This excerpt taken from the HPQ 10-Q filed Jun 8, 2007.
XXII. EFFECTIVE DATE OF THE PLAN
The Plan shall take effect on the date of adoption by the Board of Directors of the Company, subject to approval by the shareholders of the Company at a meeting held within 12 months after the date of such adoption. Options and Stock or Cash Awards may be granted under the Plan at any time after the adoption of the Plan by the Board of Directors of the Company and prior to the termination of this Plan.