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Hereby is used in connection with what is present with the speaker or what the speaker has just mentioned or the speaker's present words (i.e. the present document); thereby is used in connection with what is at a distance from the speaker or what has been mentioned by the speaker or by someone else.
Hereby, on the other hand, most often appears in legal contexts, such as legal notices. Here is an example in which hereby means something like with/ by means of these words, as it often does. You are hereby banned from this courtroom, the judge said. People sometimes use hereby humorously, in mock-formality. It still means with these words. Coaches are hereby advised not to try this [strategy] at home or in North Carolina, where the first attempt to run the A-11 will result in a 15-yard unsporting penalty ...