BANCORP HAWAII, INC.
ONE-YEAR INCENTIVE PLAN
EFFECTIVE JANUARY 1, 1993
SECTION 1. ESTABLISHMENT AND PURPOSES.
1.01 Bancorp Hawaii, Inc. hereby establishes the 1993 One-Year Incentive Plan.
1.02 The purpose of this Plan is to advance the interests of Bancorp Hawaii, Inc. by (i) motivating special
achievement by Eligible Employees upon whose judgment, initiative and efforts Bancorp Hawaii, Inc. is largely
dependent for the successful conduct of its business through a compensation program emphasizing long-term
performance incentives; (ii) supplementing other compensation plans; and (iii) assisting Bancorp Hawaii, Inc. in
retaining and attracting such employees.
SECTION 2. DEFINITIONS.
As used herein, the following terms shall have the following meanings unless a different meaning is plainly required
in the context:
2.01 "Board" shall mean the Board of Directors of the Holding Company.
2.02 "Committee" shall mean the Compensation Committee of the Holding Company.
2.03 "Contingent Award" shall mean an award to an Eligible Employee based on a specified percentage of Salary
for the Incentive Period.
2.04 "Earnings Growth" shall mean the percentage change in Earnings Per Share for the Incentive Period as
compared to the year immediately prior to the Incentive Period.
2.05 "Earnings Per Share" (EPS) shall mean fully diluted Earnings Per Share as reported by the Holding
Company in its annual report (or as otherwise reported to shareholders) adjusted as described in this Section
2.05. The Holding Company's reported net income shall be adjusted for the following in computing EPS:
a. Any extraordinary or unusual gain or loss transactions,
b. Securities gains or losses,
c. Incentive Salary Expense, and
d. Dividends on preferred shares, if any, of the Holding Company.
The Committee will, in its sole discretion, determine any adjustments to be made pursuant to this Section 2.05.
2.06 "Eligible Employees" shall mean Key Employees of the Holding Company or of a Subsidiar