Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 91

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 91
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 and except as otherwise determined by the Board, the closing sale price of a Share as reported on such securities exchange or quotation system as of the relevant date, and if the Shares are not listed or quoted on a securities exchange or quotation system, then an amount equal to the then fair market value of a Share as determined by the Board pursuant to a reasonable method adopted in good faith for such purpose; provided, however, that in the case of the grant of an Option that is intended to not provide for a deferral of compensation within the meaning of Code Section 409A, Fair Market Value shall be determined pursuant to a method permitted by Code Section 409A for determining the fair market value of stock subject to a nonqualified stock option that does not provide for a deferral of compensation within the meaning of Code Section 409A.

| 82 | BANK OF HAWAI'I  •  2025 PROXY STATEMENT |

| APPENDIX A |

1.14 "Option" means an option to purchase Shares granted pursuant to Section 6. 1.15 "Option Period" means the period during which an Option may be exercised. 1.16 "Participant" means a Director who has been granted an Award. 1.17 "Plan" means this Bank of Hawaii Corporation 2025 Director Stock Compensation Plan, as amended from time to time. 1.18 "Restricted Stock" means Shares granted pursuant to Section 8. 1.19 "Restricted Stock Units" means an Award providing for the contingent grant of Shares (or the cash equivalent thereof) pursuant to Section 9. 1.20 "Share" means a share of Common Stock. 1.21 "2015 Plan" means the Bank of Hawaii Corporation 2015 Director Stock Compensation Plan. Unless the context expressly requires the contrary, references in the Plan to (a) the term "Section" refers to the sections of the Plan, and (b) the word "including" means "including (without limitation)." 2. Purpose . This Plan is intended to promote the identification of the interests of the Directors with those of the stockholders of the Company and its Affiliates by encouraging and enabling Directors to acquire and retain Common Stock. This Plan shall apply to Awards made on or after the Effective Date and during the term of this Plan. Awards made under the 2015 Plan shall continue to be governed by the terms of that plan. 3. Administration . The Board shall administer the Plan and shall have plenary authority,