Exhibit 10.4

FIRST HAWAIIAN, INC.
2016 OMNIBUS INCENTIVE COMPENSATION PLAN

RESTRICTED SHARE UNIT AWARD AGREEMENT

This Restricted Share Unit Award Agreement (this “Award Agreement”) evidences an
award of restricted share units (“RSUs”) by First Hawaiian, Inc., a Delaware
corporation (“First Hawaiian”) under the First Hawaiian, Inc. 2016 Omnibus
Incentive Compensation Plan (the “Plan”).  Capitalized terms not defined in the
Award Agreement have the meanings given to them in the Plan.

 

 

Name of Grantee:

_______________ (the “Grantee”).

Grant Date:

_______________ (the “Grant Date”).

Number of RSUs:

_______________. 

Vesting Dates:

___% of the RSUs will be immediately vested upon the Grant Date.

The remaining ___% of the RSUs will vest one-third on each of the first, second
and third anniversaries of the Grant Date (each, a “Vesting Date”).

The RSUs will only vest if the Grantee is, and has been, continuously employed
by First Hawaiian from the Grant Date through the applicable Vesting Date, and
any unvested RSUs will be forfeited upon any termination of Employment. 

Notwithstanding the foregoing:

A. Upon a termination of Employment due to Disability and subject to the
Grantee’s continued compliance with any restrictive covenants in any employment
or other agreement with First Hawaiian, the RSUs will remain outstanding and
vest on each Vesting Date as if the Grantee had remained Employed through the
Vesting Date;

B. Upon a termination of Employment due to death, any outstanding unvested RSUs
will immediately vest in full as of the date of such termination; and

C. Upon a Change in Control, any outstanding, unvested RSUs will be treated in
accordance with the Plan.

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Delivery Date:

No later than 30 days after a Vesting Date (or, if earlier, the date of the
Grantee’s termination of Employment due to death or in accordance with the Plan
upon a Change in Control), First Hawaiian will issue to the Grantee one Share
for each vested RSU, subject to applicable tax withholding (each such date the
Shares are so issued, a “Delivery Date”).

Dividends:

On a Delivery Date, First Hawaiian will pay to the Grantee a cash amount equal
to the product of (1) all cash dividends or other distributions (other than cash
dividends or other distributions pursuant to which the RSUs were adjusted
pursuant to Section 1.6.3 of the Plan), if any, paid on a Share from the Grant
Date to such Delivery Date and (2) the number of Shares delivered to the Grantee
on such Delivery Date (including for this purpose any Shares which would have
been delivered on such Delivery Date but for being withheld to satisfy tax
withholding obligations).

All Other Terms:

As set forth in the Plan.

 

The Plan is incorporated herein by reference.  Except as otherwise set forth in
the Award Agreement, the Award Agreement and the Plan constitute the entire
agreement and understanding of the parties with respect to the RSUs.  In the
event that any provision of the Award Agreement is inconsistent with the Plan,
the terms of the Plan will control.  Except as specifically provided herein, in
the event that any provision of this Award Agreement is inconsistent with any
employment agreement between the Grantee and First Hawaiian (“Employment
Agreement”), the terms of the Employment Agreement will control.  By accepting
this Award, the Grantee agrees to be subject to the terms and conditions of the
Plan.

This Award Agreement may be executed in counterparts, which together will
constitute one and the same original.

 

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IN WITNESS WHEREOF, the parties have caused this Award Agreement to be duly
executed and effective as of the Grant Date.

 

 

 

 

 

 

FIRST HAWAIIAN, INC.

 

By:

 

 

 

Name:

 

 

Title:

 

 

 

 

[NAME OF GRANTEE]

 

 

 

 

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