Bank of Hawaii Corporation and Subsidiaries
Between Bank of Hawaii and Managing Committee Member dated May 3, 2004
This Retention Agreement (“Agreement”) is between Managing Committee Member (“you”) of address and
Bank of Hawaii Corporation and Bank of Hawaii (collectively, the “Bank”) of 130 Merchant Street, Honolulu,
Hawaii 96813. The purpose of this Agreement is to describe the terms of your retention and transition from
employment with the Bank.
1. Completion of your active duties and separation from employment . The date of your separation
from employment (“Separation Date”) will be twenty-four (24) months following your completion of active
employment duties (your “Inactive Service Date” or “ISD”), unless an Alternate Separation Date (“ASD”)
is selected or occurs between the ISD and the Separation Date.
a. Your ISD is scheduled to occur on XX XX, 2005. The final determination of your ISD will be made
by the Bank, in its discretion, based upon the needs of the Bank in achieving the goals of the Bank’s
Retention Program. The Bank may advance your ISD to any date before XX XX, 2005, or may
extend your ISD to any date within three months after XX XX, 2005. Any ISD beyond three months
from the original ISD date, will require mutual agreement of the parties in writing.
b. In the event you become employed elsewhere on a part-time or full-time basis between the ISD and
your scheduled Separation Date or ASD, your separation from employment with the Bank will be
effective immediately upon your new employment and that date will be deemed to be your ASD.
c. You may voluntarily elect an ASD by sending the Bank a written notice. The other circumstances
which can trigger the designation of an ASD are discussed below.
2. Duties and compensation until your inactive service date . You agree to continue to work diligently
in your current position through the ISD, at which time you will be