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<DIV align="center">
<B>As filed with the Securities and Exchange Commission on
May&nbsp;3, 2000</B>
</DIV>

<P align="right">
<B>Registration
No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B>

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<HR size="1" width="100%" align="left">
</DIV>

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</DIV>

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<B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center">
<B>Washington,&nbsp;D.C. 20549</B>
</DIV>

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<HR size="1" width="26%" align="center">

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<B><FONT size="5">Form S-8</FONT></B>

<DIV align="center">
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
</DIV>

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<HR size="1" width="26%" align="center">

<P align="center">
<B><FONT size="5">Compaq Computer Corporation</FONT></B>

<DIV align="center">
(Exact name of registrant as specified in its charter)
</DIV>

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<HR size="1" width="26%" align="center">

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="56%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="41%">&nbsp;</TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	<B>Delaware</B></FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	<B>76-0011617</B></FONT></TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	(State or Other Jurisdiction of<BR>
	Incorporation or Organization)</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	(I.R.S. Employer<BR>
	Identification Number)</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center">
<B>20555 SH 249</B>

<DIV align="center">
<B>Houston, Texas 77070</B>
</DIV>

<DIV align="center">
<B>(281)&nbsp;370-0670</B>
</DIV>

<DIV align="center">
(Address of Principal Executive Offices) (Postal Code)
</DIV>

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<HR size="1" width="26%" align="center">

<P align="center">
<B>Compaq Computer Corporation</B>

<DIV align="center">
<B>Employee Stock Purchase Plan</B>
</DIV>

<DIV align="center">
(Full Title of the Plan)
</DIV>

<P align="center">
<HR size="1" width="26%" align="center">

<P align="center">
<B>Thomas&nbsp;C. Siekman</B>

<DIV align="center">
<B>Senior Vice President&nbsp;&#38; General Counsel</B>
</DIV>

<DIV align="center">
<B>Compaq Computer Corporation</B>
</DIV>

<DIV align="center">
<B>20555 SH 249</B>
</DIV>

<DIV align="center">
<B>Houston, Texas 77070</B>
</DIV>

<DIV align="center">
<B>(281)&nbsp;370-0670</B>
</DIV>

<DIV align="center">
(Name, Address, Including Zip Code, and Telephone Number,
Including Area Code,
</DIV>

<DIV align="center">
of Agent for Service)
</DIV>

<P align="center">
<I>Copies to:</I>

<DIV align="center">
<B>Linda&nbsp;S. Auwers</B>
</DIV>

<DIV align="center">
<B>Vice President, Associate General Counsel&nbsp;&#38; Secretary
</B>
</DIV>

<DIV align="center">
<B>Compaq Computer Corporation</B>
</DIV>

<DIV align="center">
<B>20555 SH 249</B>
</DIV>

<DIV align="center">
<B>Houston, TX 77070</B>
</DIV>

<P align="center">
<B>CALCULATION OF REGISTRATION FEE</B>

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<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="23%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="16%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="16%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="16%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="17%">&nbsp;</TD>
</TR>

<TR>
	<TD colspan="9"></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="9"><HR size="1"></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="9"><HR size="1"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Amount</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Proposed</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Proposed</B></FONT></TD>
	<TD></TD>
	<TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Title of Each Class of</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>to be</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Maximum Offering</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Maximum Aggregate</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Amount of</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Securities to be Registered</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Registered</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Price Per Share</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Offering Price</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Registration Fee</B></FONT></TD>
</TR>

<TR>
	<TD colspan="9"></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="9"><HR size="1"></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Compaq Computer Corporation Common Shares, par value $0.01 per
	share</FONT></TD>
	<TD></TD>
	<TD align="center" valign="bottom"><FONT size="2">
	25,000,000(a)</FONT></TD>
	<TD></TD>
	<TD align="center" valign="bottom"><FONT size="2">
	$24.782813(b)</FONT></TD>
	<TD></TD>
	<TD align="center" valign="bottom"><FONT size="2">
	$619,570,325(b)</FONT></TD>
	<TD></TD>
	<TD align="center" valign="bottom"><FONT size="2">
	$163,566.57</FONT></TD>
</TR>

<TR>
	<TD colspan="9" align="left"><HR size="1"></TD>

</TR>

<TR>
	<TD colspan="9" align="left"><HR size="1"></TD>

</TR>

</TABLE>
</CENTER>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="4%"></TD>
	<TD width="96%"></TD>
</TR>

<TR valign="top">
	<TD>(a)&nbsp;</TD>
	<TD align="left">
	Pursuant to Rule&nbsp;416(a) under the Securities Act of 1933,
	this registration statement registers such indeterminate number
	of additional shares as may become issuable under the
	anti-dilution provisions contained in the Compaq Computer
	Corporation Employee Stock Purchase Plan.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>(b)&nbsp;</TD>
	<TD align="left">
	The price is estimated in accordance with Rule&nbsp;457(h)(1) of
	the Securities Act of 1933, solely for the purpose of calculating
	 the registration fee and is the product of multiplying
	25,000,000, the maximum number of shares issuable under the
	Compaq Computer Corporation Employee Stock Purchase Plan that are
	 covered by this registration statement, by 85% of $29.15625 the
	average of the high and low prices per share of Compaq Computer
	Corporation&#146;s Common Stock on the New&nbsp;York Stock
	Exchange&nbsp;&#151; Composite Tape of May 2, 2000.</TD>
</TR>

</TABLE>

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<HR size="1" width="100%" align="left">
</DIV>

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<HR size="1" width="100%" align="left">
</DIV>
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<P align="center"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>

<DIV>&nbsp;</DIV>

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<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><B>Item&nbsp;3.&nbsp;</B></TD>
	<TD>
	<B><I>Incorporation of Documents by Reference</I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following documents are incorporated by reference in this
registration statement:
<P>

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<TR>
	<TD width="6%"></TD>
	<TD width="5%"></TD>
	<TD width="89%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>(i)&nbsp;</TD>
	<TD align="left">
	The latest annual report of Compaq Computer Corporation (the
	&#147;Company&#148;) for the fiscal year ended December&nbsp;31,
	1999 filed pursuant to Section&nbsp;13(a) or 15(d) of the
	Securities Exchange Act of 1934, as amended (the &#147;Exchange
	Act&#148;);</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>(ii)&nbsp;</TD>
	<TD align="left">
	All other reports filed by the Company pursuant to
	Sections&nbsp;13(a) or 15(d) of the Exchange Act since the end of
	 the fiscal year covered by the Company&#146;s latest annual
	report referred to in Item 3(i) above;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>(iii)&nbsp;</TD>
	<TD align="left">
	The description of the Company&#146;s common stock set forth in
	the Company&#146;s Registration Statement on Form&nbsp;8-A.</TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All documents filed by the Company after the date of this
registration statement pursuant to Sections&nbsp;13(a), 13(c),
14, and 15(d) of the Exchange Act, prior to the filing of a
post-effective amendment (that indicates all securities offered
have been sold or deregisters all securities then remaining
unsold), shall be deemed to be incorporated by reference in this
registration statement and to be a part hereof from the date of
filing of such documents.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Copies of the documents incorporated by reference above may be
requested from the Company without charge, except the exhibits
(unless we have specifically incorporated by reference an exhibit
 in this Prospectus), by writing to:
<P>

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	<TD width="8%"></TD>
	<TD width="92%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	Compaq Computer Corporation</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	20555 SH 249</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	Houston, Texas 77070</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	Telephone: (800)&nbsp;433-2391</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	Attention: Investor Relations</TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><B>Item&nbsp;4.&nbsp;</B></TD>
	<TD>
	<B><I>Description of Securities</I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Not applicable.

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><B>Item&nbsp;5.&nbsp;</B></TD>
	<TD>
	<B><I>Interests of Named Experts and Counsel</I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The legality of the common stock offered by this Prospectus has
been passed upon for the Company by Linda&nbsp;S. Auwers, Vice
President, Associate General Counsel and Secretary of the
Company. Ms.&nbsp;Auwers has options to purchase Company common
stock, owns shares of Company common stock as a participant in an
 employee benefit plan, and is eligible to participate in Compaq
Computer Corporation&#146;s 1998 Stock Option Plan and this
Employee Stock Purchase Plan.

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><B>Item&nbsp;6.&nbsp;</B></TD>
	<TD>
	<B><I>Indemnification of Directors and Officers</I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Exculpation.</I> Section&nbsp;102(b)(7) of the Delaware
General Corporation Law (the &#147;DGCL&#148;) permits a
corporation to include in its certificate of incorporation a
provision eliminating or limiting the personal liability of a
director to the corporation or its stockholders for monetary
damages for breach of fiduciary duty as a director, provided that
 such provision may not eliminate or limit the liability of a
director for any breach of the director&#146;s duty of loyalty to
 the corporation or its stockholders, for acts or omissions not
in good faith or which involve intentional misconduct or a
knowing violation of law, for any unlawful payment of dividends,
or unlawful stock purchase or redemption, or for any transaction
from which the director derived an improper personal benefit.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company&#146;s Restated Certificate of Incorporation limits
the personal liability of a director of the Company and its
stockholders for monetary damages for a breach of fiduciary duty
as a director to the fullest extent permitted by the DGCL.

<P align="center">2

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Indemnification.</I> Section&nbsp;145 of the DGCL permits a
corporation to indemnify any of its directors or officers who was
 or is a party or is threatened to be made a party to any third
party proceeding by reason of the fact that such person is or was
 a director or officer of the corporation, against expenses
(including attorneys&#146; fees), judgments, fines and amounts
paid in settlement actually and reasonably incurred by such
person in connection with such action, suit or proceeding, if
such person acted in good faith and in a manner such person
reasonably believed to be in or not opposed to the best interests
 of the corporation, and, with respect to any criminal action or
proceeding, had no reasonable cause to believe that such
person&#146;s conduct was unlawful. In a derivative action, <I>
i.e.</I>, one by or in the right of a corporation, the
corporation is permitted to indemnify any of its directors or
officers against expenses (including attorneys&#146; fees)
actually and reasonably incurred by such person in connection
with the defense or settlement of such action or suit if such
person acted in good faith and in a manner such person reasonably
 believed to be in or not opposed to the best interest of the
corporation, except that no indemnification shall be made if such
 person shall have been adjudged liable to the corporation,
unless and only to the extent that the court in which such action
 or suit was brought shall determine upon application that such
person is fairly and reasonably entitled to indemnity for such
expense despite such adjudication of liability.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company&#146;s Bylaws provide for indemnification of
directors and officers of the Company against liability they may
incur in their capacities as such to the fullest extent permitted
 by the DGCL.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Insurance.</I> The Company has in effect directors&#146; and
officers&#146; liability insurance with a limit of
$100&nbsp;million and fiduciary liability insurance with a limit
of $25&nbsp;million. The fiduciary liability insurance covers
actions of directors and officers as well as other employees with
 fiduciary responsibilities under ERISA.

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><B>Item&nbsp;7.&nbsp;</B></TD>
	<TD>
	<B><I>Exemption From Registration Claimed</I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Not applicable.

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><B>Item&nbsp;8.&nbsp;</B></TD>
	<TD>
	<B><I>Exhibits</I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See Index to Exhibits.

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD><B>Item&nbsp;9.&nbsp;</B></TD>
	<TD>
	<B><I>Undertakings</I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp; The undersigned registrant hereby undertakes:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="3%"></TD>
	<TD width="91%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>(1)</TD>
	<TD align="left">
	To file, during any period in which offers or sales are being
	made, a post-effective amendment to this registration statement:</TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="10%"></TD>
	<TD width="4%"></TD>
	<TD width="86%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>(i)</TD>
	<TD align="left">
	To include any prospectus required by Section&nbsp;10(a)(3) of
	the Securities Act of 1933;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>(ii)</TD>
	<TD align="left">
	To reflect in the prospectus any facts or events arising after
	the effective date of the registration statement (or the most
	recent post-effective amendment thereof) which, individually or
	in the aggregate, represent a fundamental change in the
	information set forth in the registration statement;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>(iii)</TD>
	<TD align="left">
	To include any material information with respect to the plan of
	distribution not previously disclosed in the registration
	statement or any material change to such information in the
	registration statement;</TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do
	not apply if the registration statement is on Form&nbsp;S-3 or
	Form&nbsp;S-8 and the information required to be included in a
	post-effective amendment by those paragraphs is contained in
	periodic reports filed by the registrant pursuant to
	Section&nbsp;13 or Section&nbsp;15(d) of the Securities Exchange
	Act of 1934 that are incorporated by reference in the
	registration statement.</TD>
</TR>

</TABLE>

<P align="center">3
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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="6%"></TD>
	<TD width="3%"></TD>
	<TD width="91%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>(2)</TD>
	<TD align="left">
	That, for the purpose of determining any liability under the
	Securities Act of 1933, each such post-effective amendment shall
	be deemed to be a new registration statement relating to the
	securities offered therein, and the offering of such securities
	at that time shall be deemed to be the initial bona fide offering
	 thereof.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>(3)</TD>
	<TD align="left">
	To remove from registration by means of a post-effective
	amendment any of the securities being registered which remain
	unsold at the termination of the offering.</TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="94%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>(b)</TD>
	<TD align="left">
	The undersigned registrant hereby undertakes that, for purposes
	of determining any liability under the Securities Act of 1933
	each filing of the registrant&#146;s annual report pursuant to
	Section&nbsp;13(a) or Section&nbsp; 15(d) of the Securities
	Exchange Act of 1934 (and, where applicable, each filing of the
	Compaq Computer Corporation Employee Stock Purchase Plan&#146;s
	annual report pursuant to Section&nbsp; 15(d) of the Securities
	Exchange Act of 1934) that is incorporated by reference in the
	registration statement shall be deemed to be a new registration
	statement relating to the securities offered therein, and the
	offering of such securities at that time shall be deemed to be
	the initial bona fide offering thereof.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>(c)</TD>
	<TD align="left">
	Insofar as indemnification for liabilities arising under the
	Securities Act of 1933 may be permitted to directors, officers
	and controlling persons of the registrant pursuant to the
	foregoing provisions, or otherwise, the registrant has been
	advised that in the opinion of the Securities and Exchange
	Commission such indemnification is against public policy as
	expressed in the Securities Act of 1933 and is, therefore,
	unenforceable. In the event that a claim for indemnification
	against such liabilities (other than the payment by the
	registrant of expenses incurred or paid by a director, officer or
	 controlling person of the registrant in the successful defense
	of any action, suit or proceeding) is asserted by such director,
	officer or controlling person in connection with the securities
	being registered, the registrant will, unless in the opinion of
	its counsel the matter has been settled by controlling precedent,
	 submit to a court of appropriate jurisdiction the question
	whether such indemnification by it is against public policy as
	expressed in the Securities Act of 1933 and will be governed by
	the final adjudication of such issue.</TD>
</TR>

</TABLE>

<P align="center">4

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<P align="center"><B>SIGNATURES</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>The Registrant. </I>Pursuant to the requirements of the
Securities Act of 1933, the Registrant, Compaq Computer
Corporation, certifies that it has reasonable grounds to believe
that it meets all of the requirements for filing on Form&nbsp;S-8
 and has duly caused this registration statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in the
City of Houston, State of Texas, United States, on the 3rd day of
 May, 2000.
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="40%"></TD>
	<TD width="60%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<B>COMPAQ COMPUTER CORPORATION</B></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	(Registrant)</TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="40%"></TD>
	<TD width="2%"></TD>
	<TD width="58%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD>By:&nbsp;</TD>
	<TD align="center">
	/s/ LINDA&nbsp;S. AUWERS</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="40%"></TD>
	<TD width="60%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<HR size="1" align="left"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="center">
	Linda&nbsp;S. Auwers</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="center">
	<I>Vice President, Associate General Counsel&nbsp;&#38; Secretary
	</I></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We, the undersigned officers and directors of Compaq Computer
Corporation, do hereby constitute and appoint Jesse&nbsp;J.
Greene,&nbsp;Jr. and Linda&nbsp;S. Auwers, or either of them, our
 true and lawful attorneys and agents, to do any and all acts and
 things in our name and on our behalf in our capacities as
directors and officers, and to execute any and all instruments
for us and in our names in the capacities indicated below, which
said attorneys and agents, or either of them, may deem necessary
or advisable to enable said corporation to comply with the
Securities Act of 1933, as amended, and any rules, regulations,
and requirements of the Securities and Exchange Commission, in
connection with the Company&#146;s registration statements on
Form&nbsp;S-8 regarding the Compaq Computer Corporation Employee
Stock Purchase Plan, including specifically, but without
limitation, power and authority to sign for us or any of us, in
our names in the capacities indicated below, such registration
statement on Form&nbsp;S-8 and any and all amendments thereto;
and we do each hereby ratify and confirm all that the said
attorneys and agents, or either of them, shall do or cause to be
done by virtue hereof. The following persons executed this power
of attorney in the capacities and on the dates indicated below.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons
in the capacities and on the dates indicated.

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="50%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="34%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="10%">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Signature</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Title</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Date</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1"></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ MICHAEL&nbsp;D. CAPELLAS<BR>
	<HR size="1">Michael&nbsp;D. Capellas</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	President, Chief Executive Officer and Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ JESSE GREENE, JR.<BR>
	<HR size="1">Jesse Greene, Jr.</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	Senior Vice President and Chief Financial Officer</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	Directors:</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ BENJAMIN&nbsp;M. ROSEN<BR>
	<HR size="1">Benjamin&nbsp;M. Rosen</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	Chairman of Board of Directors</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ LAWRENCE&nbsp;T. BABBIO, JR.<BR>
	<HR size="1">Lawrence T. Babbio, Jr.</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center">5
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<P><HR noshade><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="49%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="33%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="12%">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Signature</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Title</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Date</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1"></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ DR.&nbsp;JUDITH&nbsp;L. CRAVEN<BR>
	<HR size="1">Dr. Judith L. Craven</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ CHRIS&nbsp;A. DAVIS<BR>
	<HR size="1">Chris&nbsp;A. Davis</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ ROBERT TED ENLOE,&nbsp;III<BR>
	<HR size="1">Robert Ted Enloe,&nbsp;III</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ GEORGE&nbsp;H. HEILMEIER<BR>
	<HR size="1">George&nbsp;H. Heilmeier</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ PETER&nbsp;N. LARSON<BR>
	<HR size="1">Peter&nbsp;N. Larson</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ KENNETH&nbsp;L. LAY<BR>
	<HR size="1">Kenneth&nbsp;L. Lay</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ THOMAS&nbsp;J. PERKINS<BR>
	<HR size="1">Thomas&nbsp;J. Perkins</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ KENNETH ROMAN<BR>
	<HR size="1">Kenneth Roman</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ LUCILLE&nbsp;S. SALHANY<BR>
	<HR size="1">Lucille&nbsp;S. Salhany</FONT></TD>
	<TD></TD>
	<TD align="center" valign="top"><FONT size="2">
	Director</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May 2, 2000</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A majority of the members of the Board of Directors.

<P align="center">6
<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>The Plan. </I>Pursuant to the requirements of the Securities
Act of 1933, the Compaq Computer Corporation Employee Stock
Purchase Plan has duly caused this registration statement to be
signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Houston, State of Texas, United
States, on the 3rd day of May, 2000.

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="49%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="35%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="10%">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Signature</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Title</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Date</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1"></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ YVONNE JACKSON<BR>
	<HR size="1">Yvonne Jackson</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	Member of the Plan Committee</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May&nbsp;3,&nbsp; 2000</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" valign="top"><FONT size="2">
	/s/ CAROLINE ATHERTON<BR>
	<HR size="1">Caroline Atherton</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	Member of the Plan Committee</FONT></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	May&nbsp;3,&nbsp; 2000</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center">7

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<!-- link1 "EXHIBIT INDEX" -->

<P align="center"><B>EXHIBIT INDEX</B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="13%">&nbsp;</TD>
	<TD width="1%">&nbsp;</TD>
	<TD width="13%">&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="70%">&nbsp;</TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Exhibit</B></FONT></TD>
	<TD></TD>
	<TD></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Number</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Name</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="3"><HR size="1"></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1"></TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	&#151;&nbsp;Compaq Computer Corporation Employee Stock Purchase
	Plan</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">5</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	&#151;&nbsp;Opinion of Counsel as to the legality of the
	securities being registered</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">23.1</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	&#151;&nbsp;Consent of PricewaterhouseCoopers&nbsp;LLP</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">23.2</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	&#151;&nbsp;Consent of Counsel (included in Opinion filed as
	Exhibit&nbsp; 5)</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">24.1</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	&#151;&nbsp;Power of Attorney of Directors is included on the
	signature page of the Registration Statement.</FONT></TD>
</TR>

<TR>
	<TD colspan="5">&nbsp;</TD>
</TR>

<TR>
	<TD></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">24.2</FONT></TD>
	<TD></TD>
	<TD></TD>
	<TD align="left" valign="top"><FONT size="2">
	&#151;&nbsp;Power of Attorney of Plan Committee is included on
	the signature page of the Registration Statement.</FONT></TD>
</TR>

</TABLE>
</CENTER>
</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "description": "COMPAQ COMPUTER CORPORATION", "secsgml_size_bytes": 35229}]
{"company-data": {"conformed-name": "COMPAQ COMPUTER CORP", "cik": "0000714154", "assigned-sic": "3571", "irs-number": "760011617", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-36218", "film-number": "618542"}, "business-address": {"street1": "20555 S H 249", "city": "HOUSTON", "state": "TX", "zip": "77070", "phone": "7133700670"}, "mail-address": {"street1": "20555 S H 249", "city": "HOUSTON", "state": "TX", "zip": "77070"}}
As filed with the Securities and Exchange Commission on
May 3, 2000
Registration
No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Compaq Computer Corporation
(Exact name of registrant as specified in its charter)
Delaware
76-0011617
(State or Other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer
Identification Number)
20555 SH 249
Houston, Texas 77070
(281) 370-0670
(Address of Principal Executive Offices) (Postal Code)
Compaq Computer Corporation
Employee Stock Purchase Plan
(Full Title of the Plan)
Thomas C. Siekman
Senior Vice President & General Counsel
Compaq Computer Corporation
20555 SH 249
Houston, Texas 77070
(281) 370-0670
(Name, Address, Including Zip Code, and Telephone Number,
Including Area Code,
of Agent for Service)
Copies to:
Linda S. Auwers
Vice President, Associate General Counsel & Secretary
Compaq Computer Corporation
20555 SH 249
Houston, TX 77070
CALCULATION OF REGISTRATION FEE
Amount
Proposed
Proposed
Title of Each Class of
to be
Maximum Offering
Maximum Aggregate
Amount of
Securities to be Registered
Registered
Price Per Share
Offering Price
Registration Fee
Compaq Computer Corporation Common Shares, par value $0.01 per
	share
25,000,000(a)
$24.782813(b)
$619,570,325(b)
$163,566.57
(a)
Pursuant to Rule 416(a) under the Securities Act of 1933,
	this registration statement registers such indeterminate number
	of additional shares as may become issuable under the
	anti-dilution provisions contained in the Compaq Computer
	Corporation Employee Stock Purchase Plan.
(b)
The price is estimated in accordance with Rule 457(h)(1) of
	the Securities Act of 1933, solely for the purpose of calculating
	 the registration fee and is the product of multiplying
	25,000,000, the maximum number of shares issuable under the
	Compaq Computer Corporation Employee Stock Purchase Plan that are
	 covered by this registration statement, by 85% of $29.15625 the
	average of the high and low prices per share of Compaq Computer
	Corporation's Common Stock on the New York Stock
	Exchange — Composite Tape of May 2, 2000.
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference
The following documents are incorporated by reference in this
registration statement:
(i)
The latest annual report of Compaq Computer Corporation (the
	"Company") for the fiscal year ended December 31,
	1999 filed pursuant to Section 13(a) or 15(d) of the
	Securities Exchange Act of 1934, as amended (the "Exchange
	Act");
(ii)
All other reports filed by the Company pursuant to
	Sections 13(a) or 15(d) of the Exchange Act since the end of
	 the fiscal year covered by the Company's latest annual
	report referred to in Item 3(i) above;
(iii)
The description of the Company's common stock set forth in
	the Company's Registration Statement on Form 8-A.
All documents filed by the Company after the date of this
registration statement pursuant to Sections 13(a), 13(c),
14, and 15(d) of the Exchange Act, prior to the filing of a
post-effective amendment (that indicates all securities offered
have been sold or deregisters all securities then remaining
unsold), shall be deemed to be incorporated by reference in this
registration statement and to be a part hereof from the date of
filing of such documents.
Copies of the documents incorporated by reference above may be
requested from the Company without charge, except the exhibits
(unless we have specifically incorporated by reference an exhibit
 in this Prospectus), by writing to:
Compaq Computer Corporation
20555 SH 249
Houston, Texas 77070
Telephone: (800) 433-2391
Attention: Investor Relations
Item 4.
Description of Securities
Not applicable.
Item 5.
Interests of Named Experts and Counsel
The legality of the common stock offered by this Prospectus has
been passed upon for the Company by Linda S. Auwers, Vice
President, Associate General Counsel and Secretary of the
Company. Ms. Auwers has options to purchase Company common
stock, owns shares of Company common stock as a participant in an
 employee benefit plan, and is eligible to participate in Compaq
Computer Corporation's 1998 Stock Option Plan and this
Employee Stock Purchase Plan.
Item 6.
Indemnification of Directors and Officers
Exculpation.
Section 102(b)(7) of the Delaware
General Corporation Law (the "DGCL") permits a
corporation to include in its certificate of incorporation a
provision eliminating or limiting the personal liability of a
director to the corporation or its stockholders for monetary
damages for breach of fiduciary duty as a director, provided that
 such provision may not eliminate or limit the liability of a
director for any breach of the director's duty of loyalty to
 the corporation or its stockholders, for acts or omissions not
in good faith or which involve intentional misconduct or a
knowing violation of law, for any unlawful payment of dividends,
or unlawful stock purchase or redemption, or for any transaction
from which the director derived an improper personal benefit.
The Company's Restated Certificate of Incorporation limits
the personal liability of a director of the Company and its
stockholders for monetary damages for a breach of fiduciary duty
as a director to the fullest extent permitted by the DGCL.
2
Indemnification.
Section 145 of the DGCL permits a
corporation to indemnify any of its directors or officers who was
 or is a party or is threatened to be made a party to any third
party proceeding by reason of the fact that such person is or was
 a director or officer of the corporation, against expenses
(including attorneys' fees), judgments, fines and amounts
paid in settlement actually and reasonably incurred by such
person in connection with such action, suit or proceeding, if
such person acted in good faith and in a manner such person
reasonably believed to be in or not opposed to the best interests
 of the corporation, and, with respect to any criminal action or
proceeding, had no reasonable cause to believe that such
person's conduct was unlawful. In a derivative action,
i.e.
, one by or in the right of a corporation, the
corporation is permitted to indemnify any of its directors or
officers against expenses (including attorneys' fees)
actually and reasonably incurred by such person in connection
with the defense or settlement of such action or suit if such
person acted in good faith and in a manner such person reasonably
 believed to be in or not opposed to the best interest of the
corporation, except that no indemnification shall be made if such
 person shall have been adjudged liable to the corporation,
unless and only to the extent that the court in which such action
 or suit was brought shall determine upon application that such
person is fairly and reasonably entitled to indemnity for such
expense despite such adjudication of liability.
The Company's Bylaws provide for indemnification of
directors and officers of the Company against liability they may
incur in their capacities as such to the fullest extent permitted
 by the DGCL.
Insurance.
The Company has in effect directors' and
officers' liability insurance with a limit of
$100 million and fiduciary liability insurance with a limit
of $25 million. The fiduciary liability insurance covers
actions of directors and officers as well as other employees with
 fiduciary responsibilities under ERISA.
Item 7.
Exemption From Registration Claimed
Not applicable.
Item 8.
Exhibits
See Index to Exhibits.
Item 9.
Undertakings
(a)  The undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being
	made, a post-effective amendment to this registration statement:
(i)
To include any prospectus required by Section 10(a)(3) of
	the Securities Act of 1933;
(ii)
To reflect in the prospectus any facts or events arising after
	the effective date of the registration statement (or the most
	recent post-effective amendment thereof) which, individually or
	in the aggregate, represent a fundamental change in the
	information set forth in the registration statement;
(iii)
To include any material information with respect to the plan of
	distribution not previously disclosed in the registration
	statement or any material change to such information in the
	registration statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do
	not apply if the registration statement is on Form S-3 or
	Form S-8 and the information required to be included in a
	post-effective amendment by those paragraphs is contained in
	periodic reports filed by the registrant pursuant to
	Section 13 or Section 15(d) of the Securities Exchange
	Act of 1934 that are incorporated by reference in the
	registration statement.
3
(2)
That, for the purpose of determining any liability under the
	Securities Act of 1933, each such post-effective amendment shall
	be deemed to be a new registration statement relating to the
	securities offered therein, and the offering of such securities
	at that time shall be deemed to be the initial bona fide offering
	 thereof.
(3)
To remove from registration by means of a post-effective
	amendment any of the securities being registered which remain
	unsold at the termination of the offering.
(b)
The undersigned registrant hereby undertakes that, for purposes
	of determining any liability under the Securities Act of 1933
	each filing of the registrant's annual report pursuant to
	Section 13(a) or Section  15(d) of the Securities
	Exchange Act of 1934 (and, where applicable, each filing of the
	Compaq Computer Corporation Employee Stock Purchase Plan's
	annual report pursuant to Section  15(d) of the Securities
	Exchange Act of 1934) that is incorporated by reference in the
	registration statement shall be deemed to be a new registration
	statement relating to the securities offered therein, and the
	offering of such securities at that time shall be deemed to be
	the initial bona fide offering thereof.
(c)
Insofar as indemnification for liabilities arising under the
	Securities Act of 1933 may be permitted to directors, officers
	and controlling persons of the registrant pursuant to the
	foregoing provisions, or otherwise, the registrant has been
	advised that in the opinion of the Securities and Exchange
	Commission such indemnification is against public policy as
	expressed in the Securities Act of 1933 and is, therefore,
	unenforceable. In the event that a claim for indemnification
	against such liabilities (other than the payment by the
	registrant of expenses incurred or paid by a director, officer or
	 controlling person of the registrant in the successful defense
	of any action, suit or proceeding) is asserted by such director,
	officer or controlling person in connection with the securities
	being registered, the registrant will, unless in the opinion of
	its counsel the matter has been settled by controlling precedent,
	 submit to a court of appropriate jurisdiction the question
	whether such indemnification by it is against public policy as
	expressed in the Securities Act of 1933 and will be governed by
	the final adjudication of such issue.
4
SIGNATURES
The Registrant.
Pursuant to the requirements of the
Securities Act of 1933, the Registrant, Compaq Computer
Corporation, certifies that it has reasonable grounds to believe
that it meets all of the requirements for filing on Form S-8
 and has duly caused this registration statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in the
City of Houston, State of Texas, United States, on the 3rd day of
 May, 2000.
COMPAQ COMPUTER CORPORATION
(Registrant)
By:
/s/ LINDA S. AUWERS
Linda S. Auwers
Vice President, Associate General Counsel & Secretary
We, the undersigned officers and directors of Compaq Computer
Corporation, do hereby constitute and appoint Jesse J.
Greene, Jr. and Linda S. Auwers, or either of them, our
 true and lawful attorneys and agents, to do any and all acts and
 things in our name and on our behalf in our capacities as
directors and officers, and to execute any and all instruments
for us and in our names in the capacities indicated below, which
said attorneys and agents, or either of them, may deem necessary
or advisable to enable said corporation to comply with the
Securities Act of 1933, as amended, and any rules, regulations,
and requirements of the Securities and Exchange Commission, in
connection with the Company's registration statements on
Form S-8 regarding the Compaq Computer Corporation Employee
Stock Purchase Plan, including specifically, but without
limitation, power and authority to sign for us or any of us, in
our names in the capacities indicated below, such registration
statement on Form S-8 and any and all amendments thereto;
and we do each hereby ratify and confirm all that the said
attorneys and agents, or either of them, shall do or cause to be
done by virtue hereof. The following persons executed this power
of attorney in the capacities and on the dates indicated below.
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons
in the capacities and on the dates indicated.
Signature
Title
Date
/s/ MICHAEL D. CAPELLAS
Michael D. Capellas
President, Chief Executive Officer and Director
May 2, 2000
/s/ JESSE GREENE, JR.
Jesse Greene, Jr.
Senior Vice President and Chief Financial Officer
May 2, 2000
Directors:
/s/ BENJAMIN M. ROSEN
Benjamin M. Rosen
Chairman of Board of Directors
May 2, 2000
/s/ LAWRENCE T. BABBIO, JR.
Lawrence T. Babbio, Jr.
Director
May 2, 2000
5
Signature
Title
Date
/s/ DR. JUDITH L. CRAVEN
Dr. Judith L. Craven
Director
May 2, 2000
/s/ CHRIS A. DAVIS
Chris A. Davis
Director
May 2, 2000
/s/ ROBERT TED ENLOE, III
Robert Ted Enloe, III
Director
May 2, 2000
/s/ GEORGE H. HEILMEIER
George H. Heilmeier
Director
May 2, 2000
/s/ PETER N. LARSON
Peter N. Larson
Director
May 2, 2000
/s/ KENNETH L. LAY
Kenneth L. Lay
Director
May 2, 2000
/s/ THOMAS J. PERKINS
Thomas J. Perkins
Director
May 2, 2000
/s/ KENNETH ROMAN
Kenneth Roman
Director
May 2, 2000
/s/ LUCILLE S. SALHANY
Lucille S. Salhany
Director
May 2, 2000
A majority of the members of the Board of Directors.
6
The Plan.
Pursuant to the requirements of the Securities
Act of 1933, the Compaq Computer Corporation Employee Stock
Purchase Plan has duly caused this registration statement to be
signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Houston, State of Texas, United
States, on the 3rd day of May, 2000.
Signature
Title
Date
/s/ YVONNE JACKSON
Yvonne Jackson
Member of the Plan Committee
May 3,  2000
/s/ CAROLINE ATHERTON
Caroline Atherton
Member of the Plan Committee
May 3,  2000
7
EXHIBIT INDEX
Exhibit
Number
Name
4
— Compaq Computer Corporation Employee Stock Purchase
	Plan
5
— Opinion of Counsel as to the legality of the
	securities being registered
23.1
— Consent of PricewaterhouseCoopers LLP
23.2
— Consent of Counsel (included in Opinion filed as
	Exhibit  5)
24.1
— Power of Attorney of Directors is included on the
	signature page of the Registration Statement.
24.2
— Power of Attorney of Plan Committee is included on
	the signature page of the Registration Statement.