##### 



Exhibit 10.8

RESOLUTIONS OF THE EXECUTIVE COMMITTEE
OF
BANCWEST CORPORATION

RESOLVED, that this Committee, for and on behalf of BancWest Corporation,
hereby adopts the amendments to the BancWest Corporation Supplemental Executive
Retirement Plan (the Plan) set forth as Exhibit A;

FURTHER RESOLVED, that the effective date of such amendments shall be
November 1, 2002;

FURTHER RESOLVED, that after the effective date of such amendments,
Section 5.5 of the Plan shall be applicable only to those individuals who (1)
who were active employees and Plan participants on December 20, 2001, and (2)
who are also active employees and Plan participants on the effective date of
the amendments; and all persons satisfying both of these requirements shall be
set forth on Exhibit II to the Plan.

* * * * * * * *

I, WILLIAM E. ATWATER, in my capacity as the the duly elected and acting
Secretary of BancWest Corporation, a Delaware corporation (the Company),
hereby certify that the foregoing resolutions were validly adopted at a meeting
of the BancWest Corporation Executive Committee duly convened and held on
September 18, 2002.

IN WITNESS WHEREOF, I have hereunto set my hand this 20th day of September
2002.

| |                                                                             
| | ----------------------------------------------------------------------------
| | /s/ William E. AtwaterWilliam E. Atwater
Senior Vice President and Secretary





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##### 



EXHIBIT A

AMENDMENT NO. 2
TO
BANCWEST CORPORATION
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN



|1. |  | The Plan is amended by revising Section 1.9 to read in its entirety as
follows:
|-- |  | -------------------------------------------------------------------------------



| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 1.9 Compensation means base salary, plus annual bonuses under the
Companys Incentive Plan for Key Executives (or, for those who do not
participate in the Incentive Plan for Key Executives, bonuses under other
short-term incentive plans involving award cycles of one year or less),
that are paid by a Participating Employer to a Participant or deferred by
the Participant under the Companys Deferred Compensation Plan. If more
than one such annual bonus is paid or so deferred (or deemed paid or
deferred by application of this sentence) in any 12-month period, only
the annual bonus paid or deferred latest in the 12-month period will be
treated as Compensation for that period, and such earlier annual bonus
will be treated as Compensation for purposes of the immediately
preceding 12-month period, so as to avoid distorting the level of the
Participants Compensation. Such items of Compensation shall include any
amount that is contributed by a Participating Employer pursuant to a
salary reduction agreement and is not includible in the Participants
gross income under Section 125 or 402(e)(3) of the Code, and any salary
reduction or bonus deferral elected by a Participant under a nonqualified
plan sponsored by a Participating Employer. Compensation shall not
include any items not specifically defined as Compensation in this
Section 1.9. For example, Compensation shall not include lump sum
vacation cashouts, income received or recognized in connection with
option or discounted stock purchase programs, payments under long-term
incentive plans, amounts paid as automobile or other allowances,
insurance premiums paid on a Participants behalf or amounts paid to
offset tax liabilities.



|2. |  | The Plan is amended by adding a second sentence to Section 1.10, so that
such section reads in its entirety as follows:
|-- |  | -----------------------------------------------------------------------------------------------------------------------



| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 1.10 Credited Service means the Participants years of Credited
Service under the Retirement Plan as of December 31, 1995 plus one
additional year of Credited Service for each calendar year thereafter
during which the Participant is credited with a year of Credited Service
under Article II of this Plan. For purposes of calculating a
Participants Supplemental Retirement Benefit (but without duplication of
service otherwise credited in accordance with Section 2.1) Credited
Service shall also include any prior service credit to be provided





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##### 





| |                                                                                                          
| | ---------------------------------------------------------------------------------------------------------
| | pursuant to Section 7.5, whether such prior service relates to periods
before or after December 31, 1995.



|3. |  | A new Section 1.23A shall be added to the Plan, to read as follows:
|-- |  | -------------------------------------------------------------------



| |                                                                                                                                                                                                                                                          
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 1.23A Plan Administrator means such person, committee, or entity
as may be appointed from time to time by the Committee, and charged with
such responsibilities of Plan administration as are determined by the
Committee, pursuant to Section 8.1(5).



|4. |  | The Plan is amended by deleting the word and at the end of Section
5.1(a) (viii), by adding , and at the end of Section 5.1(a)(ix), by
adding new Section 5.1(a)(x), and by replacing the phrase (i) through
(ix) with (i) through (x) in Sections 5.1(b) and 5.2. New Section
5.1(a)(x) shall read in its entirety as follows:
|-- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |                                                                                           
| | ------------------------------------------------------------------------------------------
| | (x) The value of the amounts described in Section 7.5(b)(ii)
attributable to past service.



|5. |  | The Plan is amended by revising Section 5.5 to read in its entirety as
follows:
|-- |  | -------------------------------------------------------------------------------
|  
|   |  | Section 5.5 Special Benefits.                                                  



| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (a) Effective as of November 1, 2002, each Participant listed on
Exhibit II shall be deemed 100% vested in his Supplemental Retirement
Benefit, shall be granted three extra years of Credited Service under the
Plan, and upon termination of employment the greater of Compensation for
the 12-month period immediately prior to such termination or Final
Average Compensation shall be used in determining his Supplemental
Retirement Benefit. The Supplemental Retirement Benefit of each such
Participant shall commence to be paid at the later of his attainment of
age 55 or his date of termination of employment. Such benefit shall be
calculated pursuant to Section 5.3 and as if the Participant retired with
the approval of the Committee.



| |                                                                                                                                                                                                                                                                                  
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (b) A Participant may elect to delay the receipt of benefits
provided pursuant to Section 5.5(a) if the election is filed at least 30
days before his termination of employment. Benefits may not be delayed
beyond age 65 (or, if later, the date of termination of employment).

6.       The Plan is amended by deleting the words Supplemental Retirement
Benefit and from the fourth line of Section 7.3, so that Section 7.3
reads in its entirety as follows:



| |  | Section 7.3 Pioneer Federal Savings Bank.
| |  | -----------------------------------------



| |                                                                                                                                                                                                                                                                                                                  
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | If a Participants accrued benefit in the Retirement Plan includes
amounts that accrued prior to January 1, 1994 under the Retirement
Pension Plan of Pioneer Federal Savings Bank, his Grandfathered
Supplemental Accrued Benefit shall be determined under Section 4.2,
provided his Grandfathered Supplemental

2



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##### 





| |                                                                                                                            
| | ---------------------------------------------------------------------------------------------------------------------------
| | Accrued Benefit shall be based only on Credited Service (as defined in
the Retirement Plan) earned after December 31, 1993.



|7. |  | The Plan is amended by adding Section 7.5 to the Plan, reading in its
entirety as follows:
|-- |  | ------------------------------------------------------------------------------------------
|  
|   |  | Section 7.5 Certain Prior Service Credit                                                  



| |                                                                                   
| | ----------------------------------------------------------------------------------
| | (a) This Section 7.5 applies only to a Section 7.5 Participant (as
defined below).



| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (b) For purposes of calculating his or her Supplemental Retirement
Benefit (i) the Credited Service of a Section 7.5 Participant (but not
Vesting Service) shall include prior service credit with respect to that
Participants period of employment by an Acquired Employer, and (ii) to
the extent appropriate to avoid duplication of benefits, the value of all
past or future retirement benefits, contributions or other amounts paid
or payable with respect to such prior service shall be converted to a
monthly life annuity of Actuarial Equivalent value and shall then be
deducted from the Section 7.5 Participants Target Retirement Amount as
contemplated by Section 5.1. The amount of any such Credited Service or
related deductions shall be determined by the Committee or its designees
in its or their discretion.



| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (c) Section 7.5 Participant means any present or future
Participant who became an employee of a Participating Employer prior to
December 20, 2001 as the result of the acquisition by the Company or its
subsidiaries of stock or assets of an Acquired Employer. Acquired
Employer means First Interstate Bank of Hawaii, Pioneer Federal Savings
Bank, Bank of the West, Central Bank, SierraWest Bancorp, First Security
Bank of New Mexico, N.A., Wells Fargo Bank New Mexico N.A., and First
Security Bank of Nevada.



| |                                                                                                                                                                                                                                                                                                          
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (d) This Section 7.5 shall not affect calculation of Vesting Service
or the date Vesting Service commences. Pursuant to Sections 2.2 and 3.2,
Vesting Service shall not accrue until an employee has been designated as
a Participant by the Committee and has satisfied the requirements of
Section 2.2.
|
| | (e) This Section 7.5 shall not affect calculation of any
Grandfathered Supplemental Account or Grandfathered Supplemental Accrued
Benefit.                                                                                                                                                               

3



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##### 





|8. |  | Section 8.1 of the Plan is amended in its entirety to read as follows:
|-- |  | ----------------------------------------------------------------------
|  
|   |  | Section 8.1 Committee.                                                



| |                                                                                                                                                                                                                                                                                                             
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Except as otherwise provided in this Plan, and unless otherwise
determined by the Board, the Committee shall have the power and duty to
take all actions and make all decisions necessary or proper to administer
this Plan, in its sole discretion. In that connection, the Committee
shall have the power:



| |                                                                                                                                                                                                                    
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (1) To require as a condition of receiving any benefits under this
Plan, any person to furnish such information that the Committee may
reasonably request for the purpose of the proper administration of the
Plan;



| |                                                                                                                                                                 
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (2) To make and enforce such rules and regulations and prescribe the
use of such forms as it shall deem necessary for the efficient
administration of this Plan;



| |                                                                                                                                                                                             
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (3) To make factual determinations and to decide questions
concerning the interpretation of this Plan, including with respect to the
eligibility of any person for benefits under this Plan;



| |                                                                                                                            
| | ---------------------------------------------------------------------------------------------------------------------------
| | (4) To determine the amount of benefits that shall be payable to any
person in accordance with the provisions of this Plan;



| |                                                                                                                                                                                               
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (5) To delegate such of its responsibilities under the Plan to such
employees of the Company or a Participating Employer, including
Participants, as the Committee shall deem appropriate; and



| |                                                                                                                                                                                                                                                                                                                                                                                             
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (6) To employ the services of such other persons as the Committee
may deem necessary or desirable in connection with this Plan, including
but not limited to an actuary, legal counsel, an independent accountant,
agents, and such clerical, medical, and accounting services as it may
require in carrying out the provisions of this Plan or in complying with
the requirements of ERISA.



|9. |  | Section 8.3 of the Plan is amended in its entirety to read as follows:
|-- |  | ----------------------------------------------------------------------
|  
|   |  | Section 8.3 Claims Procedure.                                         



| |                                                                                                                                   
| | ----------------------------------------------------------------------------------------------------------------------------------
| | (a) All claims for benefits under the Plan and all questions
relating to such claims shall be submitted to the Plan Administrator.



| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (b) If a claim is wholly or partially denied, the Plan Administrator
shall furnish the Participant within a reasonable period of time, but not
later than ninety (90) days after receipt of the claim by the Plan
Administrator, a written explanation of the denial. If the Plan
Administrator determines that special circumstances exist which require
an extension of time for processing the claim, the Plan Administrator
shall have one hundred and eighty (180) days after the

4



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##### 





| |                                                                                                                                                                                                                                                                                                                         
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | receipt of the claim to furnish the Participant with a written
explanation of the denial, provided the Plan Administrator gives the
Participant written notice of the special circumstances (and the date by
which the Plan Administrator expects to render a decision) within ninety
(90) days of receipt of the claim.



| |                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (c) The written explanation of a claim denial shall set forth, in a
manner calculated to be understood by the Participant, the following
information:                                                                                                                                                                                                                                                                                                         
|
| | (1) The specific reason or reasons for the denial of the claim;                                                                                                                                                                                                                                                                                                                                                                                               
|
| | (2) A specific reference to the pertinent Plan provisions, if any,
on which the denial is based;                                                                                                                                                                                                                                                                                                                                                              
|
| | (3) A description of any additional material or information
necessary for the Participant to perfect the claim and an explanation of
why such material or information is necessary;                                                                                                                                                                                                                                                                           
|
| | (4) A description of the Plans review procedures and the time
limits applicable to such procedures, including (i) a statement that the
claim and the denial shall be reviewed upon submission of a written
request to the Committee, and (ii) a statement that the failure to submit
a written request for review within sixty (60) days after the receipt of
the written explanation of the claim denial shall make the Plan
Administrators decision final;
|
| | (5) A statement that the Participant shall have, as part of the
review procedure, a reasonable opportunity:                                                                                                                                                                                                                                                                                                                                                   
|
| | (i) To receive, upon request and free of charge, reasonable access
to, and copies of, all documents, records and other information relevant
to the claim for benefits, and                                                                                                                                                                                                                                                                                    
|
| | (ii) To submit written comments, documents, records and other
information relating to the claim for benefits; and                                                                                                                                                                                                                                                                                                                                             
|
| | (6) A statement that the Participant has the right to bring a civil
action under ERISA Section 502(a) following an adverse benefit
determination on appeal.                                                                                                                                                                                                                                                                                                   
|
| | (d) The denial of a Participants claim shall be reviewed by the
Committee if a written request for review is filed within sixty (60) days
after receipt of the written explanation of the claim denial by the
Participant. Otherwise, the initial decision of the Plan Administrator
shall be the final decision of the Plan.                                                                                                                                
|
| | (e) The Committee shall review the information and comments
submitted by the Participant or the Participants duly authorized
representative. The Committee may hold a hearing of all parties
involved, if the Committee deems                                                                                                                                                                                                                                

5



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##### 





| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | such hearing to be necessary. The Committee shall furnish the
Participant with a written explanation of the decision on review within
sixty (60) days after receipt of a written request for review. If the
Committee determines that special circumstances exist which require an
extension of time for reviewing the information, the Committee shall have
one hundred and twenty (120) days after receipt of the written request
for review to finish the Participant with a written decision or review
denial, provided the Committee gives the Participant written notice of
the special circumstances (and the date by which the Committee expects to
render a decision) within sixty (60) days of receipt of the written
request for review.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|
| | (f) The written explanation of the decision on review shall set
forth, in a manner calculated to be understood by the Participant, the
following information:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|
| | (1) The specific reason or reasons for the decision, including a
response to the information and comments, if any, submitted by the
Participant;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|
| | (2) Specific

reference to pertinent Plan provisions and records, if
any, on which the decision is based;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|
| | (3) A statement that the Participant is entitled to receive, upon
request and free of charge, access to and copies of all documents,
records and other information relevant to the benefit claim;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|
| | (4) A statement that the Participant has the right to bring a civil
action under ERISA Section 502(a) following an adverse benefit
determination on appeal; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|
| | (5) A statement, if applicable, that, in addition to the Plans
claims procedure set forth above, the Participant may, but is not
required to, submit a claim for benefits under a voluntary level of
appeal.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|
| | (g) On appeal, the Committees determination shall be the final
decision of the Plan. The Participant may submit a claim for benefits
under a voluntary level of appeal. However, such claim is not required
in order to exhaust the Plans claims procedure. Such claim must be
submitted in accordance with the claims procedure applicable to such
voluntary appeal within a reasonable time, but not later than sixty (60)
days after the receipt of the Committees adverse benefit determination
by the Participant. A copy of the applicable claims procedure shall be
provided by the Committee upon the Participants written request. Such
claims procedure shall contain a statement that a decision by the
Participant as to whether or not to submit a claim for benefits under the
voluntary level of appeal will have no effect on the Participants rights
to any other benefits under the Plan and information about the applicable
rules, the Participants right to representation, the process for
selecting the decision maker, and the circumstances, if any, that may
affect the impartiality of the decision maker, such
as any financial or personal interests in the result or any past or
present relationship with any party to the review process.

6