Document:

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                                                                   EXHIBIT 10.17

                      Termination of Split Dollar Agreement
                             And Release of Interest
                           ("Termination and Release")

WHEREAS, First Hawaiian Bank, a Hawaii corporation (hereafter, the "Employer")
has entered into a Split Dollar Agreement dated February 1, 1993 (hereafter, the
"Agreement") with the Walter A. Dods, Jr. Irrevocable Trust (hereafter, the
"Owner"), whereby the Employer was provided certain collateral rights in a life
insurance policy (hereafter, the "Policy") insuring Walter A. Dods, Jr.
("Employee") in exchange for providing premium payments on such Policy; and,

WHEREAS, the Agreement permits the modification of the Agreement only upon the
written approval of both the Employer and the Owner as provided by Section 14 of
the Agreement; and,

WHEREAS, the Employer and Owner wish to restructure the manner in which the life
insurance protection will be provided in the future to the Owner as a result of
the promulgation of regulations and other pronouncement which have altered the
income tax treatment of the program to the Employee;

THEREFORE, in consideration of the mutual promises contained in this Termination
and Release, the parties agree as follows:

1.    The Agreement shall be terminated as of the date hereof. Upon termination
      of the Agreement, the Policy which is the subject of the Agreement shall
      be split into two separate policies; one to be owned thereafter by the
      Owner and the other to be owned by the Employer. The resulting Policies
      shall be referred to as OWNER'S POLICY and the EMPLOYER'S POLICY as
      follows:

            OWNER'S POLICY

            The Owner's Policy will be owned completely by the current owner of
            the policy and will be designed to provide a death benefit of not
            less than three times the Employee's annual salary, less $1,000,000.
            Currently, that death benefit is equal to $2,578,466. Future
            increases in death benefits to reflect future increases in salary
            may be subject to limits imposed by the insurance carrier, and may
            require satisfactory medical underwriting. The cash value of the
            Owner's Policy is projected (but not guaranteed) to be sufficient to
            provide the stated death benefit above without requiring any future
            premium payments, using current financial assumptions as determined
            by the Employer. The Employer will have no interest in the Owner's
            Policy.

            EMPLOYER'S POLICY

            The Employer's Policy will be owned by Employer and the Owner will
            have no rights in it. The Employer's Policy will have a face amount
            and cash value equal to the remaining portion of death benefits and
            cash value of the Policy.

2.    Employer's intent is to provide Employee with a death benefit that may
      increase over time to reflect increases in Employee's annual salary.
      During Employee's employment with Employer, the death benefit of the
      Owner's Policy is intended to be the greater of $2,578,466 or an amount
      equal to three times Employee's then-current salary, with such product
      reduced by $1,000,000. If an increase in the policy death benefit is
      required, Employer shall notify Owner of the amount of the proposed
      increase. Owner shall apply for such increase and Employee shall promptly
      thereafter complete any underwriting requirements of the carrier. After
      termination of employment with Employer, the death benefit will remain
      level at the amount that existed before termination.

      The cash value of the Owner's Policy is intended to grow so that, without
      payment of additional premiums, that policy's cash values will support the
      death benefit. If, while the Employee is employed with Employer,
      conditions change such that, in the
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      good faith judgment of the Employer (using projected salary increases and
      other economic assumptions reasonably selected by the Employer),
      additional premiums are necessary to provide projected cash values
      sufficient to support the death benefit, then the Employer will make those
      additional premium payments into the Owner's Policy. Employer's obligation
      to fund increases in death benefits of the Owner's Policy shall be subject
      to and limited by any rules of the carrier. In addition, to the extent
      that any death benefit increase is issued on a rated or substandard basis,
      the Employer's obligation to pay additional premiums will be limited to a
      reasonable estimate of two hundred percent (200%) of the cost it would
      incur if the Employee were able to satisfy "standard" medical underwriting
      criteria.

      The Employer shall have discretion to determine how frequently it will
      review the Owner's Policy to determine whether death benefits should be
      increased and whether cash values are sufficient to meet the foregoing
      objectives; provided Employer shall conduct such reviews at least every
      three years.

      The Employer's obligation to make premium payments into the Owner's Policy
      shall terminate when the Employee ceases to be employed by Employer,
      whether through retirement, death, termination or otherwise.

3.    If any additional premium is paid by the Employer, an additional bonus
      payment will be made to the Employee sufficient to cover the state and
      federal income tax liability on the additional premium, and on this bonus,
      assuming the maximum marginal tax bracket.

4.    Owner agrees that, until Employee's retirement or other termination of
      employment with the Employer, neither Owner nor any other person will,
      without the prior written consent of Employer (which may be given or
      withheld in its sole discretion), exercise any rights of ownership under
      the Owner's Policy that reduces the policy's current or prospective cash
      value or that otherwise may increase the amount of premiums the Employer
      would be required to pay. If prior to retirement or termination of
      employment the Owner or any other person takes any such action without
      prior written consent of the Employer, the Employer shall have no further
      obligation to pay any additional premiums under the Owner's Policy.

5.    The Employer is given the authority to take the steps deemed necessary, in
      its sole discretion, to implement this Termination and Release, including
      but not limited to the submission of any forms or paperwork with the
      insurance carrier issuing the Policy deemed necessary to implement this
      Termination and Release.

6.    Upon execution of this Termination and Release, the Employer shall have no
      further rights in or claim to the Owner's Policy, and the Employee and the
      Owner of the Policy shall have no rights under or claims against the
      Employer with respect to the Agreement, the existing Policy, the BancWest
      Corporation Split-Dollar Plan for Executives or the Employer's Policy.

This Termination and Release is agreed to by the following:

Employee                                 First Hawaiian Bank

/s/ Walter A. Dods, Jr.                  By  /s/ Sheila M. Sumida
------------------------------------        --------------------------
Signature                                Its  Executive Vice President

12/16/03                                 12/16/2003
-----------------------------            -----------------------------
Date                                     Date

Owner (if different than Employee)
FIRST HAWAIIAN BANK, TRUSTEE

/S/ THOMAS F. SANDOZ
                  VICE PRESIDENT
Signature

12-16-03
--------
Date<PAGE>

                                                                   EXHIBIT 10.18

                      Termination of Split Dollar Agreement
                             And Release of Interest
                           ("Termination and Release")

WHEREAS, First Hawaiian Bank, a Hawaii corporation (hereafter, the "Employer")
has entered into a Split Dollar Agreement dated February 1, 1993 (hereafter, the
"Agreement") with Donald G. Horner (hereafter, the "Owner"), whereby the
Employer was provided certain collateral rights in a life insurance policy
(hereafter, the "Policy") insuring Donald G. Horner ("Employee") in exchange for
providing premium payments on such Policy; and,

WHEREAS, the Agreement permits the modification of the Agreement only upon the
written approval of both the Employer and the Owner as provided by Section 14 of
the Agreement; and,

WHEREAS, the Employer and Owner wish to restructure the manner in which the life
insurance protection will be provided in the future to the Owner as a result of
the promulgation of regulations and other pronouncement which have altered the
income tax treatment of the program to the Employee;

THEREFORE, in consideration of the mutual promises contained in this Termination
and Release, the parties agree as follows:

7.    The Agreement shall be terminated as of the date hereof. Upon termination
      of the Agreement, the Policy which is the subject of the Agreement shall
      be split into two separate policies; one to be owned thereafter by the
      Owner and the other to be owned by the Employer. The resulting Policies
      shall be referred to as OWNER'S POLICY and the EMPLOYER'S POLICY as
      follows:

      OWNER'S POLICY

      The Owner's Policy will be owned completely by the current owner of the
      policy and will be designed to provide a death benefit equal to
      $1,727,664. The cash value of the Owner's Policy is projected (but not
      guaranteed) to be sufficient to provide the stated death benefit above
      without requiring any future premium payments, using current financial
      assumptions as determined by the Employer. The Employer will have no
      interest in the Owner's Policy.

      EMPLOYER'S POLICY

      The Employer's Policy will be owned by Employer and the Owner will have no
      rights in it. The Employer's Policy will have a face amount and cash value
      equal to the remaining portion of death benefits and cash value of the
      Policy.
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8.    Employer's intent is to provide Employee with a death benefit equal to
      $1,727,664.

      The cash value of the Owner's Policy is intended to grow so that, without
      payment of additional premiums, that policy's cash values will support the
      death benefit. If, while the Employee is employed with Employer,
      conditions change such that, in the good faith judgment of the Employer
      (using economic assumptions reasonably selected by the Employer),
      additional premiums are necessary to provide projected cash values
      sufficient to support the death benefit, then the Employer will make those
      additional premium payments into the Owner's Policy. Employer's obligation
      to make additional premium payments to the Owner's Policy shall be subject
      to and limited by any rules of the carrier.

      The Employer shall have discretion to determine how frequently it will
      review the Owner's Policy to determine whether cash values are sufficient
      to meet the foregoing objectives; provided Employer shall conduct such
      reviews at least every three years.

      The Employer's obligation to make premium payments into the Owner's Policy
      shall terminate when the Employee ceases to be employed by Employer,
      whether through retirement, death, termination or otherwise.

9.    If any additional premium is paid by the Employer, an additional bonus
      payment will be made to the Employee sufficient to cover the state and
      federal income tax liability on the additional premium, and on this bonus,
      assuming the maximum marginal tax bracket.

10.   Owner agrees that, until Employee's retirement or other termination of
      employment with the Employer, neither Owner nor any other person will,
      without the prior written consent of Employer (which may be given or
      withheld in its sole discretion), exercise any rights of ownership under
      the Owner's Policy that reduces the policy's current or prospective cash
      value or that otherwise may increase the amount of premiums the Employer
      would be required to pay. If prior to retirement or termination of
      employment the Owner or any other person takes any such action without
      prior written consent of the Employer, the Employer shall have no further
      obligation to pay any additional premiums under the Owner's Policy.

11.   The Employer is given the authority to take the steps deemed necessary, in
      its sole discretion, to implement this Termination and Release, including
      but not limited to the submission of any forms or paperwork with the
      insurance carrier issuing the Policy deemed necessary to implement this
      Termination and Release.

12.   Upon execution of this Termination and Release, the Employer shall have no
      further rights in or claim to the Owner's Policy, and the Employee and the
      Owner of the Policy shall have no rights under or claims against the
      Employer with respect to the Agreement, the existing Policy, the BancWest
      Corporation Split-Dollar Plan for Executives or the Employer's Policy.
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This Termination and Release is agreed to by the following:

Employee                                 First Hawaiian Bank

/s/ Donald G. Horner                     By  /s/ Sheila M. Sumida
--------------------                         -------------------------
Signature                                Its  Executive Vice President
                                              ------------------------

12/17/03                                 12/17/03
--------------------                     -----------------------------
Date                                     Date

Owner (if different than Employee)

----------------------------------
Signature

---------------------
Date

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