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From HPAlumnipedia

...(As Soon As Possible)

From the HPAlumnipedia (www.hpalumnipedia.com) on Wednesday, July 9, 2008 at 03:06 • Page last modified: 6/27/2008

HPAlumnipedia > Leaving HP > ASAP

If you happen to be reading this webpage between your Notification Date and Release Date, you should have already received various documents from HP... Study them!

Please note: Some of the information and advice in this wiki reflects the specific terms of previous HP termination / retirement / severence programs.

Read carefully all information provided to you by HP regarding the current program – including printouts of all the online information. Mark it up and become completely familiar with it.

Urgent Tasks

In addition to what the HP documents tell you, there are some urgent action items (before you lose HP internal access) that are worth calling to your attention here:

• Make printed copies of anything provided by HP via web or email regarding the terms of any termination, retirement, or severence program. You may need to reference this later.

• Print out your HP stock options history and determine if you have unexercised options that will expire upon termination. You need to get your options report twice – before your termination date and again after your termination date.

• Switch your earnings statements from online back to paper, if appropriate, and print out any recent online-only statements you want to keep. (Thanks to Chris Feduniw for the suggestion.)

• Consume your Floating Holiday. (Note: Use of the Floating Holiday rather than payment for it might depend on the employee's state of residence. Also, non-exempt employees must download a paper timecard and fax it to HP to not delay processing for PTO.)

• Move out your AMEX card points before your card is cancelled.

• If you participate in the Share Ownership Plan, study and possibly print information you'll need later for selling shares and doing taxes at the SOP homepage

• If you have any personal email or phone calls directed to your HP address or phone number, tell the sender/caller to change that; and if you have any personal data in an online address book or similar, copy it out. Your HP email account, autoreply, and phone number vanish quickly. For more on this, see Personal business on company systems

• Look up your HP patent incentives status.

• Check out your eAwards account and use up those points (even if it is in the form of a debit card). (Thanks to Gary Stringham for the suggestion.)

• Retirees, consider whether to sign up for Long Term Care Insurance through John Hancock. Supposedly you can elect to take that coverage after retirement, but it might be safer to elect it now and cancel it later if you change your mind. (Thanks to Bob Sutis for the suggestion.)

• Check out the employee programs web site for options you can take with you after termination, such as the "Passport" program, where you can get a buy-one-get-one-free discount at certain restaurants. (Thanks to Danielle Caro for the suggestion.)

• Print out copies of your most recent evaluations, as many as you deem appropriate, for whatever purpose.

Convenience Tasks

And while it's still convenient to do so, before losing HP intranet access:

• Consider filing a revised W4 with HP online, to decrease your tax withholding; increase your exemptions if you expect a large FTO payout and need the money ASAP.

• Consider increasing your 401(k) contributions to reduce income taxes.

• Consider dropping out of the new Share Ownership Plan to receive a refund ASAP of contributions that won't be used to buy shares.

• Print your DPSP+RP statement.

• Consider the status of your reimbursement accounts while you're still on the payroll.

• Pay for continuing life insurance before the grace period (31 days?) expires.

• Take loans, refinance, or establish lines of credit ( such as through the credit union) while still employed.

• Consider using the HP Product Gift Matching Program to give an HP product grant for only 25% (or sometimes even just 15%) of the list price.

• Join the HP (Addison Avenue) credit union if desired while still on the payroll. This offers you various benefits (such as life and dental insurance), although other credit unions might work just well for you.

The next list -- your last week

Your Last Week: Actions to take during your last week at HP.

–Alan Silverstein, February 2007. Revised.