BancWest Corporation Executive Committee Resolution Amending Directors’ Retirement Plan (Amendment No. 3)

Contract Categories: Human Resources › Retirement Agreements
Summary

The BancWest Corporation Executive Committee approved an amendment to the Directors’ Retirement Plan. Effective May 18, 2005, only individuals who began serving as directors before January 1, 2005, are eligible to participate in the plan. This change phases out plan participation for new directors and those serving on subsidiary boards after that date.

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EX-10.14 3 f18988exv10w14.htm EXHIBIT 10.14 exv10w14  

EXHIBIT 10.14
RESOLUTIONS OF THE
BANCWEST CORPORATION
EXECUTIVE COMMITTEE
May 18, 2005
 
Re: Amendment No. 3 to Directors’ Retirement Plan
Upon motion duly made and seconded the following resolution was approved by the committee:
     WHEREAS, the Executive Committee has determined that it is in the best interests of this corporation to phase out participation in the Directors’ Retirement Plan (the “Plan”) of individuals who are not members of the BancWest Corporation Board of Directors;
     IT IS RESOLVED, that Section 3.1 of the Plan is amended by adding the following text as the final sentence of that section:
Notwithstanding any other language of this Section 3.1, or any other provision of the Plan, no one shall be eligible to participate in the Plan by reason of service on the Board of Directors of the Corporation or any of its subsidiaries unless his or her service as a director commenced prior to January 1, 2005.