Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 72

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 72
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 individual who became a participant in the Excess Benefit Plan after May 19, 2006, the plan provides that benefits are payable upon a separation from service according to a distribution schedule that is determined by reference to the total amount accrued for the individual under the plan. A participant with: • $100,000 or less in deferred amounts will receive a lump sum payment six months after separation from service; • more than $100,000 but no more than $300,000 in deferred amounts will receive distributions in two installments; • more than $300,000 but no more than $500,000 in deferred amounts will receive distributions in three installments; and • more than $500,000 in deferred amounts will receive distributions in five installments. In each case, the first installment will be paid on the first day of the seventh month following separation from service and subsequent installments will be paid in each subsequent January. An individual who first became a participant in the Excess Benefit Plan on or prior to May 19, 2006 will receive benefits upon the participant’s separation from service and may have elected to be paid as follows: (a) according to the distribution schedule applicable to individuals who become participants

| BANK OF HAWAI'I  •  2025 PROXY STATEMENT | 63 |

| COMPENSATION DISCUSSION AND ANALYSIS |

after May 19, 2006, (b) in a lump sum on the first day of the seventh month following separation from service, or (c) in annual installments (not to exceed five) commencing on the first day of the seventh month following separation from service or commencing on an anniversary of the participant’s separation from service (not later than the fifth anniversary). The amount of each installment will be calculated using the declining balance method. If a participant dies prior to the full distribution of his or her deferred amounts, any unpaid amounts remaining will be distributed in a lump sum to the participant's beneficiary. The Company’s obligations under the Excess Benefit Plan are payable from its general assets, although the Company has established a rabbi trust to assist it in meeting its liabilities under the plan. The assets of the trust are at all times subject to the claims of the Company’s general creditors. Set forth below is information regarding the amounts deferred by or for the benefit of the named executive officers in 2024. Nonqualified Deferred Compensation Table

| Name                |     | Executive Contributions in 2024 
                          ($)(1) |     | Registrant