ALEXANDER & BALDWIN, INC. RETIREMENT PLAN FOR OUTSIDE DIRECTORS AMENDMENT NO. 1
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EX-10.B.1(XXVI) 6 exh10b1_xxvi.htm EXHIBIT 10.B.1(XXVI) exh10b1_xxvi.htm
ALEXANDER & BALDWIN, INC. RETIREMENT PLAN FOR
OUTSIDE DIRECTORS
AMENDMENT NO. 1
The Alexander & Baldwin, Inc. Retirement Plan for Outside Directors, effective June 29, 2012, hereinafter referred to as the “Plan”, is hereby amended effective March 1, 2013, as follows:
1. The last sentence in Appendix A, item #2, shall be deleted and replaced with the following:
“The after-tax equivalent rate shall be determined by multiplying the discount rate in use by the A&B Retirement Plan for Salaried Employees of A&B, LLC by the excess of 100% over the effective marginal tax rate declared by the Administrative Committee.”
2. Item #3 in Appendix A shall be deleted in its entirety and replaced with the following:
“The Administrative Committee shall declare the effective marginal tax rate at the beginning of each year.”
IN WITNESS WHEREOF, Alexander & Baldwin, Inc. has caused this Amendment to be executed on its behalf by its duly authorized officers on this 26th day of February, 2013.
ALEXANDER & BALDWIN, INC.
By: /s/ Son-Jai Paik______________
Its Vice President
By: /s/ Alyson Nakamura__________
Its Secretary
