First Amendment to Hewlett-Packard Company Executive Deferred Compensation Plan
This amendment to the Hewlett-Packard Company Executive Deferred Compensation Plan, effective May 1, 2004, clarifies how unpaid benefits are distributed if a participant dies. Payments will go first to the spouse or domestic partner, then to children, parents, siblings, or the estate, in that order. The company will determine domestic partner status in a consistent and fair way. The amendment was adopted on April 21, 2004, and signed by an executive vice president of Hewlett-Packard.
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Exhibit 10(y)
FIRST AMENDMENT
TO THE
HEWLETT-PACKARD COMPANY EXECUTIVE DEFERRED
COMPENSATION PLAN
The Hewlett-Packard Company Executive Deferred Compensation Plan (the "Plan") is amended in the following respect, effective May 1, 2004:
1. New paragraph is added to the end of Section 9 to read as follows:
Notwithstanding the above, if any payment due a person remains unpaid at his or her death, the payment will be made to (i) that person's spouse; (ii) if no spouse is living at the time of such payment, then his or her living children, in equal shares; (iii) if neither a spouse nor children are living, then his or her living parents, in equal shares; (iv) if neither spouse, nor children, nor parents are living, then his or her living brothers and sisters, in equal shares; (v) in none of the individuals described in (i) through (iv) are living, to his or her estate. A person's domestic partner shall be considered a person's spouse for purposes of this paragraph. The Committee shall determine a person's status as a domestic partner in a uniform and nondiscriminatory manner. Such a determination shall be binding and conclusive on all parties.
This First Amendment is hereby adopted this 21st day of April, 2004.
| HEWLETT-PACKARD COMPANY | ||||
By | /s/ MARCELA PEREZ DE ALONSO Marcela Perez de Alonso Executive Vice President Human Resources and Workforce Development | |||
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- Exhibit 10(y)
