PACIFIC CENTURY FINANCIAL CORPORATION
EXECUTIVE OFFICER ONE-YEAR INCENTIVE PLAN
Effective January 1, 1998
SECTION 1. ESTABLISHMENT AND PURPOSES.
1.01 Pacific Century Financial Corporation hereby establishes the Executive Officer One-Year Incentive Plan.
1.02 The purpose of this Plan is to advance the interests of Pacific Century Financial Corporation by (i)
motivating special achievements by Eligible Employees upon whose judgment, initiative and efforts Pacific
Century Financial Corporation is largely dependent for the successful conduct of its business through a
compensation program emphasizing performance objectives; (ii) supplementing other compensation plans; and
(iii) assisting Pacific Century Financial Corporation in retaining and attracting such employees.
1.03 This Plan shall be effective as of January 1, 1998 and shall operate on the basis of the current Incentive
Period. This Plan constitutes the current operating document for the administration of the Plan effective January 1,
1994, that was disclosed to shareholders and received shareholder approval on April 27, 1994. As such, the
material terms of this Plan have been approved by shareholders for purposes of the performance-based
compensation requirements of
Section 162(m) of the Internal Revenue Code of 1986, as amended.
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, as determined in Section 4.02, expressed
as a percentage of Salary for the Incentive Period.
2.04 "Eligible Employees" shall mean the Executive Officers of the Holding Company or of a Subsidiary (as
described in Section 4.02) who, in the opinion of the Committee, are or give promise of becoming of exceptional