Document:

Company's 1-Yr. Incentive Plan Amendment 2003-1

 
EXHIBIT
10.2 
 
BANK OF HAWAII CORPORATION

HUMAN RESOURCES AND COMPENSATION COMMITTEE OF 
THE BOARD OF DIRECTORS RESOLUTIONS 
 

	RE:	 	ADOPTION OF AMENDMENT NO. 2003-1 TO THE PACIFIC CENTURY FINANCIAL CORPORATION ONE-YEAR INCENTIVE PLAN 

 
WHEREAS, Bank of Hawaii Corporation (“BOHC”)
maintains the Pacific Century Financial Corporation One-Year Incentive Plan, effective as of January 1, 1999 (“Plan”); and 
 
WHEREAS, under Section 11.1 of the Plan, the Human Resources and Compensation Committee of the Board of Directors of BOHC
(“Committee”) is authorized to amend the Plan. 
 
NOW, THEREFORE, BE IT RESOLVED THAT: 
 

	1.	 	The Committee hereby adopts Amendment No. 2003-1 to the Plan in the form substantially as attached hereto, effective as of January 1, 2003.

 

	2.	 	The appropriate members of the Committee are hereby authorized and directed to take any and all actions necessary and desirable to carry out the intent of the
foregoing resolution. 

 

 
I, David A. Heenan, hereby certify that I am the duly appointed and acting Chairperson of the Human
Resources and Compensation Committee of the Board of Directors of Bank of Hawaii Corporation, and that the above resolutions were adopted at a meeting of the Committee held on January 24, 2003, at which meeting a quorum was at all times
present and acting, and that said resolutions are still in full force and effect. 
 
DATED: January 24, 2003 
 

	 HUMAN RESOURCES AND
 COMPENSATION COMMITTEE OF
 THE BOARD OF DIRECTORS OF
 BANK OF HAWAII CORPORATION

	
	 By
	 	     /s/    David A.
Heenan        

	 	 	     Its Chairperson

 

 
AMENDMENT
NO. 2003-1 TO THE 
PACIFIC CENTURY FINANCIAL CORPORATION 
ONE-YEAR INCENTIVE PLAN 
 
1. Effective as of January 1, 2003, the Pacific Century Financial Corporation One-Year Incentive Plan (“Plan”) shall be amended
by removing references to the “Pacific Century Financial Corporation One-Year Incentive Plan” and inserting in lieu thereof references to the “Bank of Hawaii Corporation Executive Incentive Plan” as the name of the Plan.

 
2. Effective as of January 1, 2003, the Plan
shall be amended by removing references to the “Pacific Century Financial Corporation” and “PCFC” and inserting in lieu thereof references to the “Bank of Hawaii Corporation” and “BOHC”, respectively, as
sponsoring employer of the Plan. 
 
3. Effective as
of January 1, 2003, the following new paragraph shall be added at the end of Section 6.1 of the Plan: “The Final Award shall constitute compensation that is earned as of the date of determination and payment of such Final Award. Further, in
accordance with Article 7 and subject to certain exceptions as provided under Article 7, a Participant shall not be entitled to a payment of a Final Award unless such Participant is employed in good standing by BOHC or a Subsidiary throughout the
Performance Period and the period ending on the date of the determination and payment of such Final Award.” 
 
4. Effective as of January 1, 2003, Section 7.2 of the Plan shall be revised to read as follows: “Unless determined otherwise by the
Committee and set forth in the Participant’s Award Agreement, in the event that a Participant is not employed in good standing throughout the Performance Period and the period ending on the date of the determination and payment of a Final Award
other than for those reasons set forth in Section 7.1, the Participant shall not be entitled to any Final Awards for the Performance Period.” 
 
5. Effective as of January 1, 2003, Section 7.1 of the Plan shall be revised to read as follows: “In the event the employment of a
Participant is terminated by reason of death, Disability, or Retirement during a Performance Period, the Committee in its sole discretion shall determine whether the Participant shall be entitled to the payout of any Final Award and, if so, shall
also determine the manner in which any Final Award shall be prorated. The Participant shall not be entitled to any Final Award until the date of determination and payment of the Final Award. Payments of any prorated Final Awards in this case shall
be made at the similar time as payments are made to Participants who did not terminate employment during the applicable Performance Period.”Company's Stock Option Plan of 1994 Amendment 2002-1

 
EXHIBIT
10.16 
 
RESOLUTIONS OF 
THE BOARD OF DIRECTORS OF 
BANK OF HAWAII CORPORATION 
 

	RE:	 	ADOPTION OF AMENDMENT NO. 2002-1 TO THE BANK OF HAWAII CORPORATION STOCK OPTION PLAN OF 1994 

 
WHEREAS, Bank of Hawaii Corporation (“BOHC”)
maintains the Bank of Hawaii Corporation Stock Option Plan of 1994 (“Plan”) as an omnibus stock compensation award plan; 
 
WHEREAS, BOHC desires to amend the Plan in order to allow for the transferability of nonqualified stock options to a revocable trust
subject to administrative requirements and limitations; and 
 
WHEREAS, Article 13 of the Plan provides that the Plan may be amended at any time by action of the Board of Directors of BOHC. 
 
NOW, THEREFORE, BE IT RESOLVED THAT, BOHC hereby adopts Amendment No. 2002-1 to the Plan, in the form substantially as attached, effective
immediately as of this date of adoption. 
 
RESOLVED FURTHER, that the appropriate directors and officers of BOHC are hereby authorized and directed to take any and all actions necessary and desirable in order to consummate the matters authorized in these resolutions,
including execution of the Amendment. 
 

 
I, Cori C. Weston, hereby certify that I am the duly appointed and acting Secretary of Bank of Hawaii
Corporation and that the above resolutions were adopted at a meeting of the Board of Directors of BOHC held on July 26, 2002, at which meeting a quorum was at all times present and acting, and that said resolutions are still in full force and
effect. 
 
DATED:     July 26, 2002.     
 

	 BANK OF HAWAII CORPORATION

	
	 By
	 	 /s/    Cori C. Weston         

	 	 	 Its Secretary

 
AMENDMENT
2002-1 TO THE 
BANK OF HAWAII CORPORATION 
STOCK OPTION PLAN OF 1994 
 
In accordance with Article 13 of the Bank of Hawaii Corporation Stock Option Plan of 1994 (“Plan”), the Plan is hereby amended
by this Amendment No. 2002-1, effective as of the date of adoption by the Board of Directors, as follows: 
 
Section 6.11 of the Plan shall be amended by adding the following provision at the end thereof: 
 
However, subject to the approval of the Committee, the
Participant may transfer an NQSO for no consideration to a revocable trust under which, during the Participant’s lifetime: (a) the Participant is the sole grantor and beneficiary of the trust; (b) the Participant is the sole trustee of the
trust or the Participant and his or her spouse are the sole co-trustees of the trust; and (c) the Participant as grantor of the trust maintains the authority to revoke the trust without the consent of any other person and have all trust assets
revest to himself or herself. Such transfer shall be subject to any additional conditions or limitations as the Committee may establish, and the trust as transferee shall remain subject to all the terms and conditions applicable to the NQSO prior to
such transfer. 
 

 
To record the adoption of this amendment to the Plan, Bank of Hawaii Corporation has executed this document this 26th day of
July, 2002. 
 

	 BANK OF HAWAII CORPORATION

	
	 By
	 	 /s/    Cori C. Weston         

	 	 	 Its Secretary

	
	 By
	 	 /s/    Neal C. Hocklander         

	 	 	 Its Vice ChairmanCompany's Director Stock Compensation Program Amendment 2001-1

 
EXHIBIT 10.32

 
RESOLUTIONS OF 
THE BOARD OF DIRECTORS OF 
PACIFIC CENTURY FINANCIAL CORPORATION 
 

	RE:	 	APPROVAL OF AMENDMENT NO. 2001-1 TO THE  PACIFIC CENTURY FINANCIAL CORPORATION  DIRECTOR STOCK COMPENSATION PROGRAM 

 
WHEREAS, Pacific Century Financial Corporation (the
“Corporation”) maintains the Pacific Century Financial Corporation Director Stock Compensation Program (the “Program”) for the purpose of enabling Directors of the Corporation or the Bank of Hawaii to acquire and retain a
proprietary interest in the Corporation by ownership of common stock of the Corporation; 
 
WHEREAS, Article 7 of the Program provides that the Program may be amended at any time by action of the Corporation’s Board of Directors; and 
 
WHEREAS, the Corporation desires to amend the Program for
purposes of modifying the grant amounts for options and restricted shares. 
 
NOW, THEREFORE, BE IT RESOLVED THAT the Corporation hereby adopts Amendment No. 2001-1 to the Program, in the form substantially as attached hereto, effective as of the date of adoption. 
 
RESOLVED FURTHER, that the appropriate officers of the
Corporation are hereby authorized and directed to take any and all actions necessary or desirable to carry out the intent of the foregoing resolutions. 
 

 
I,
    Cori C. Weston   , hereby certify that I am the duly appointed Secretary of the Board of Directors of Pacific Century Financial Corporation, and that the above resolutions were adopted at a meeting of the
Board of Directors of such Corporation held on April 27, 2001, at which meeting a quorum was at all times present and acting, and that said resolutions are still in full force and effect. 
 
 

	 DATED:
	 	 April 27, 2001

 

	 BOARD OF DIRECTORS OF 
 PACIFIC CENTURY FINANCIAL
 CORPORATION

	
	 By
	 	 /s/    Cori C. Weston         

	 	 	 Its Secretary

 
 

 
AMENDMENT
NO. 2001-1 TO 
THE PACIFIC CENTURY FINANCIAL CORPORATION 
DIRECTOR STOCK COMPENSATION PROGRAM 
 
In accordance with the provisions of its Article 7, the Pacific Century Financial Corporation Director Stock Compensation Program is
amended effective as of the date of adoption of this Amendment 2001-1, as follows: 
 
i) The following provision shall be added at the end of Section 2 of the Pacific Century Financial Corporation Director Stock Option Plan: 
 
Effective as of the 2001 annual meeting, in lieu of the formula grant amounts as described in the preceding
sentence, the following formula grant amount shall apply: an option for the purchase of 3,000 shares to a Director who is a Director of either or both of the Company and the Bank of Hawaii. In addition to the above formula grants, the Committee may
at its sole discretion designate the Directors to whom other options shall be granted and determine the amount of the options so granted. 
 
ii) The following provision shall be added at the end of Section 2 of the Pacific Century Financial Corporation Director Restricted Share
Plan: 
 
Effective as of the 2001 annual meeting,
in lieu of the formula grant amount as described in the preceding sentence, the automatic grant shall be equal to 200 restricted shares, and the maximum aggregate limitation shall not apply. In addition to the above formula grants, the Committee may
at its sole discretion designate the Directors to whom other restricted shares shall be granted and determine the amount of the restricted shares so granted.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}]]