Important Information

The information in this Handbook applies only to Alexander & Baldwin, Inc. full-time salaried non-bargaining employees working in the U.S., or its territories or possessions. All references to Alexander & Baldwin, Inc. or "A&B" are intended to include all other participating companies, as listed under Legal Information.

The benefit plan descriptions in this document are for summary purposes only. Every effort has been made to ensure that the information in this Handbook accurately describes the terms of the plan document, master contract, or trust agreement. In all cases, however, only the official plan booklets, documents, master contracts, or trust agreements control the administration and operation of the plans.

If a conflict arises between information in the Benefits Handbook and the official plan booklets, documents, master contracts, or trust agreements, the latter official documents will govern. Similarly, if any conflict arises between oral descriptions provided and the official plan booklets, documents, master contracts, or trust agreements, these documents will govern.

The Plan Administrator has discretionary authority to administer and interpret the plans. The Plan Administrator may delegate this discretionary authority and any duties it deems appropriate to facilitate administration of the plans.

For any of these benefits, the applicable insurance company and/or claims administrator may, in its discretion, interpret and apply the terms of a plan with regard to benefit payments and to make findings of fact. This includes determining whether individuals are entitled to benefits under the plan and calculating benefit payments. Any determination made by the Plan Administrator (or any person acting on behalf of the Administrator) is final and binding.

By adopting and maintaining these plans, Alexander & Baldwin, Inc. has not entered into an employment contract with any employee. Employment with A&B is "at will" and may be ended "at will" by A&B or the employee, with or without cause.

Alexander & Baldwin, Inc. intends to continue these benefit plans, but reserves the right, in its sole discretion, to terminate, suspend, withdraw, amend, or modify the plans, in whole or in part, at any time. Any such action is subject to the applicable provisions of the plan documents. If a plan is terminated, it will not affect any claim made when the plan was in force.

For additional details on the administration of these plans and ERISA information, refer to Legal Information.