Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 93

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 93
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AI'I • 2025 PROXY STATEMENT | 83 |

| APPENDIX A |

5.2 If an Option expires or terminates for any reason without having been fully exercised, if shares of Restricted Stock are forfeited, or if Shares covered by an Award are not issued or are forfeited, the unissued or forfeited Shares that had been subject to the Award shall be available for the grant of additional Awards. 6. Options 6.1 Each Option granted under this Plan shall be clearly and specifically designated as not being an incentive stock option under Code Section 422. Options shall be subject to the terms and conditions set forth in this Section 6 and such other terms and conditions not inconsistent with the Plan as the Board may specify. Such terms and conditions may provide that an Option may be exercised only as described in Section 7.3 and provide for the payment of cash in lieu of the issuance of all or a portion of the Shares issuable upon exercise (with Shares paid in cash being valued at Fair Market Value). 6.2 The Exercise Price of an Option granted under the Plan shall not be less than 100% of the Fair Market Value of a Share on the Date of Grant. 6.3 The Board shall determine the Option Period for an Option, which shall be specifically set forth in the Agreement, provided that an Option shall not be exercisable after ten years from its Date of Grant. 7. Exercise of Options 7.1 Subject to the terms of the applicable Agreement, an Option may be exercised, in whole or in part, by delivering to the Company a notice of the exercise, in such form as the Director may prescribe, accompanied by (a) full payment for the Shares with respect to which the Option is exercised or (b) to the extent provided in the applicable Agreement, irrevocable instructions to a broker to deliver promptly to the Company cash equal to the exercise price of the Option. 7.2 To the extent provided in the applicable Agreement or otherwise authorized by the Board, payment of the Exercise Price may be made by delivery (including constructive delivery) of Shares (provided that such Shares, if acquired pursuant to an Option or other Award granted hereunder or under any other compensation plan maintained by the Company or any Affiliate, have been held by the Participant for such period, if any, as the Board may specify) valued at Fair Market Value on the Date of Exercise. 7.3 To the extent provided in the applicable Agreement, an Option may be exercised by