ALEXANDER & BALDWIN, INC. EXECUTIVE SEVERANCE PLAN AMENDMENT NO. 1
EX-10.B.1.(LIX) 2 exh10b1.htm AMENDMENT NO. 1 TO THE ALEXANDER & BALDWIN, INC. EXECUTIVE SEVERANCE PLAN exh10b1.htm
ALEXANDER & BALDWIN, INC.
EXECUTIVE SEVERANCE PLAN
AMENDMENT NO. 1
The Alexander & Baldwin, Inc. Executive Severance Plan, as adopted effective January 1, 2008 (the “Plan”), is hereby amended as follows effective as of October 18, 2010:
| 1. | The third sentence of Section 3.1(a) is amended in its entirety to read as follows: |
“If the release is not revoked, the payment under subsections 3.1(a)(i) and (iii) shall be payable no later than 60 days following the date of the participant’s Separation from Service.”
| 2. | The fourth sentence of Section 3.1(a) is amended in its entirety to read as follow: |
| | “If the release is timely revoked, the participant shall not be entitled to any benefit under Section 3.1(a)(i), (ii) and (iii).” |
IN WITNESS WHEREOF, Alexander & Baldwin, Inc. has caused this Amendment to be executed on its behalf by its duly authorized officers on this 18th day of October 2010.
ALEXANDER & BALDWIN, INC.
By /s/ Son-Jai Paik
Its Vice President
By /s/ Alyson J. Nakamura
Its Secretary
