HEWLETT-PACKARD COMPANY OFFICERS
EARLY RETIREMENT PLAN
SECTION 1. ESTABLISHMENT AND PURPOSE OF PLAN
The Hewlett-Packard Company Officers Early Retirement Plan was adopted and established effective April 1,
1983 (the "Effective Date"). The Plan was last amended and restated as of January 1, 1996 to read as set forth
herein. The Plan is intended to provide benefits for a select group of management and highly compensated
employees referred to as "Officers" herein. The purpose of the program is to provide an opportunity for Officers
to retire early with the benefits provided in Section 4.
SECTION 2. DEFINITIONS
The following words and phrases when capitalized and used in this Plan shall have the following meaning unless
from the context it clearly appears otherwise:
(a) "Anniversary Year" means, with respect to any Officer, a period of twelve (12) consecutive months
commencing on his or her Election Date and each annual anniversary of such date at which the individual
continues to be an Officer.
(b) "Company" means Hewlett-Packard Company, a California corporation.
(c) "Early Retirement Benefit" means the benefit provided under Section
4. A Participant's Early Retirement Benefit shall commence the month following his or her termination of
(d) "Election Date" means the date as of which an individual becomes an Officer by action of the Board of
Directors of the Company.
(e) "Eligible Employee" means an Employee who at termination of employment either is an Officer or has been an
Officer during his or her career.
(f) "Employee" means an individual employed by the Company or any foreign or domestic subsidiary of the
(g) "ERISA" means the Employee Retirement Income Security Act of 1974, as it may be amended from time to
(h) "Final Base Rate of Pay" means the greater of (i) the Rate of Pay on the last day of an Employee's active
employment, or (2) the Rate of Pay on the last day an Employee is an Officer.
(i) "Normal Retirement Date"