Company: BOH
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0000046195-25-000013
Chunk: 3

Company: BANK OF HAWAII CORP
Filing Date: 2025-06-27
Form: 11-K
Chunk 3
---
. For the years ended December 31, 2024 and 2023, in accordance with the Plan as amended, a special fixed bonus was paid directly to eligible employees in lieu of the Company's fixed contribution to the Plan. For the years ended December 31, 2024 and 2023, value-sharing contributions were approximately $881,000 and $945,000, respectively. Total employer and employee contributions are limited to certain maximum annual amounts, including those imposed under the Internal Revenue Code.

Participants direct their elective contributions into various investment options offered by the Plan and can change their investment options. The Company’s contributions are also invested as directed by the participants.

#### Participant Accounts
Each participant’s account is credited with the participant’s contributions, the Company’s matching contributions, and allocation of Plan earnings and is charged with an allocation of administrative expenses. Plan earnings are allocated based on the participant’s share of net earnings or losses of their respective elected investment options. Allocations of administrative expenses are based on the participant’s account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

#### Vesting
Under current Plan provisions, participants are immediately vested in their accounts.

4

#### 1. Description of the Plan (continued)

#### Participant Loans
Participants are allowed to borrow a minimum of $1,000 up to a maximum equal to the lesser of $50,000 and 50% of the current value of their account balance. Loan terms do not exceed five years unless the loan is used for the purchase of a primary residence. The loans are secured by the balance in the participant's account. The interest rate on a loan is set at the time a participant applies for the loan. Principal and interest is repaid ratably into the participant’s account through payroll deductions. No loans secured by Bank of Hawaii Corporation common stock are permitted.

#### Benefit Payments
A participant is entitled to allocations of the Company’s fixed and value-sharing contributions for the calendar year in which the participant terminated employment due to retirement, disability or death. For termination of employment prior to retirement (normal and early), disability or death, the participant’s vested account will be distributed as soon as practicable. For all accounts under the Plan that exceed $5,000, a distribution can only be made if the participant consents in writing to such a distribution. For the money purchase accounts, participants are entitled to receive the vested portion of their account in the form of a joint and survivor annuity