Other Benefits

In addition to the benefits described elsewhere in this Handbook, A&B offers a variety of other benefits. These benefits are designed to help you balance your personal, family and work responsibilities, and provide extra support.

This Handbook offers highlights of these additional benefits. More details are available from your local Human Resources representative.

A&B offers LifeWorks, a resource and referral program that provides help with a variety of "work life" issues, such as help finding legal assistance, assistance with such life changes as relocating or adopting a child, and other concerns.

LifeWorks is provided to A&B employees through Ceridian, a nationally recognized provider of work life assistance programs. To access the LifeWorks services, simply call Ceridian at 800-635-0606. When you call, you will speak with a trained counselor who can assess your needs and refer you to the resources that can help you.

Specifically, LifeWorks can help you with...

• Anticipating and managing normal life transitions, such as:

  • relocating,

  • planning a leave of absence, and the return from a leave,

  • parenting,

  • child or elder care, and

  • retirement.

• Finding and managing resources, such as:

  • full- and part-time child and elder care services, and

  • new schools, colleges and vocational/technical schools.

LifeWorks can provide valuable assistance through its skilled counselors. The service helps because it has already performed the initial research on certain topics for you, thus helping you focus on finding a solution that's right for you.*

At A&B, we believe it's important that employees have the opportunity to take time off for a variety of reasons. At the same time, we recognize that different locations have different needs and requirements; hence, our policies with regard to paid time off may vary from location to location.

Below is a summary of the paid time off benefits available to you as an A&B employee.* For more details, contact your local Human Resources representative.

Sick Leave

Good attendance and a commitment to superior work are important to the Company's success. At the same time, A&B recognizes that you may need to take time off in the event you...

• Suffer an illness or injury, or

• Need to care for a family member who is ill or injured.

That's why the Company provides all regular salaried employees time off under its sick leave policy. For information regarding the specific guidelines or limitations to this policy, contact your supervisor or local Human Resources representative.

Note: If you become seriously ill or injured and are unable to work for an extended period of time, you may be eligible for benefits under A&B's Long-Term Disability (LTD) Plan.

Vacations

All regular salaried employees are eligible for paid vacation beginning January 1 each year. Your vacation accrual is calculated annually; newly hired employees are entitled to a pro-rated vacation. The table below outlines the vacation accrual schedule.

If a holiday (as explained in the next section) is observed by the Company during your vacation, you will not need to use a vacation day for that holiday. Should you become ill or injured* during your vacation, your vacation may be extended, as long as you receive approval from A&B.

If you need further information, please contact your local Human Resources representative.

Holidays

At the beginning of each year, a listing of holidays will be posted. Because different locations have different needs and requirements pertaining to holidays, the actual days may vary.

Note that when a regular Company holiday falls on a weekend, the...

• Saturday holiday will be observed on the preceding Friday, and

• Sunday holiday will be observed on the following Monday.

FMLA Overview

A&B offers its employees a variety of leaves of absence, including Family and Medical Leaves, which are provided in accordance with the federal Family and Medical Leave Act (FMLA) and, if applicable, state law.

Note that the information provided below is just a summary, and that in certain states the actual leave polices may differ to comply with state law.

You may take an unpaid FMLA leave if you...

• Have worked for A&B for at least 12 months, during which time you worked at least 1,250 hours during the previous 12 months; and,

• Work at a location where there are at least 50 employees employed by A&B (or an affiliated company) within 75 miles.

FMLA leave is available if you need to care for...

• Your child after his or her birth,

• A child after he or she has been placed with you for adoption or foster care,

• Your spouse/domestic partner, child or parent who has a serious health condition, or

• Yourself, if you have a serious health condition and are unable to work.

If you qualify for an FMLA leave, it will be granted without pay after you have exhausted your paid time off benefits. When you return from your leave, you will be returned to your original position, or a position with equivalent pay, benefits and employment terms.*

To take a leave, you should provide at least 30 days' advance written notice if the leave is "foreseeable," or as much notice as possible. If the leave is for your serious health condition, you will be required to obtain a medical certification verifying a fitness for duty report.

Additional details regarding your leave options are available through your local Human Resources representative. For details regarding the effect of an FMLA leave on your other A&B benefits, see What Happens to Your Benefits.

Other Types Of Leave

A&B also provides unpaid leaves of absence to its salaried non-bargaining employees for the following reasons...

• Military reserve training

• Extended military service

• Personal circumstances

• Illness or injury

For complete details regarding the conditions and lengths of leaves available, contact your supervisor or local Human Resources representative. If you are considering taking a leave of absence, you should discuss your situation with your supervisor as far in advance as possible.

What Happens To Your Benefits

A&B will pay its share of the costs of maintaining your pre-tax FlexSolutions coverages throughout your approved unpaid leave at the same level as when you were an active employee. This includes...

• Your and your dependents' health care coverage, plus

• Your Employee Life, AD&D, and LTD coverages.

Meanwhile, you may be required to continue to pay your share of the cost of any of these coverages.

If you fail to make any required contributions on a timely basis, your coverage can be stopped during your approved unpaid leave (this will generally only apply if your payment is more than 30 days late).

Your coverage(s)—and therefore your contributions—will be the same coverage(s) in force while you were an active employee.

If any or all of your coverages end while you are on an unpaid leave, these coverages will be reinstated on the date you...

• Return to work from an approved unpaid leave, or

• Re-enroll by filing a written request with A&B to deduct the required contribution from your pay.

Your benefits will be reinstated as if there had been no break in coverage, as long as you re-enroll within 31 days of returning to work. This means that you will not have to provide evidence of insurability, and any pre-existing condition limitations or non-confinement provisions will not apply.

A&B's Severance Policy determines what benefits, if any, will be paid in the event an individual's employment with the Company ends.

Note: The A&B Severance Policy outlined here applies to all full-time salaried non-bargaining employees of A&B, its divisions and wholly owned subsidiaries. This policy should not be interpreted as a specific guarantee regarding employment or compensation. These guidelines should not be relied upon by any employee. The Company reserves the right to change this policy at any time.

If your employment with A&B ends due to*...

• A reduction in the Company's workforce, and/or

• The elimination of a job

... you may be eligible for a severance allowance under this policy.

What The Severance Policy Provides

If an individual has at least one year of service with A&B, and his or her employment ends as a result of a workforce reduction or job elimination, he or she may be eligible to receive a severance payment. The actual payment made is based on the individual's length of service with the Company as outlined in the table below.

The Company will determine how the severance allowance will be paid, after considering the expressed preference of the affected employee. However, any severance allowance payable must be fully paid within two years.

Severance Policy Provisions

The following provisions apply to the A&B Severance Policy...

• Any decision to reduce the workforce and/or eliminate a job shall be at the sole discretion of the Company.

• Individuals whose employment ends as a result of a workforce reduction or job elimination will:

  • be paid for all earned unused vacation, including any vacation earned during the current year, and

  • stop participating in A&B's employee health and welfare benefit plans in accordance with the provisions of each particular plan.

• No severance allowance will be paid to an affected employee who:

  • rejects an offer of a comparable position with the Company (or one of its subsidiaries or divisions); or

  • through the efforts of the Company, is employed by another employer.

• If an affected employee is receiving a severance allowance when he or she dies, the remainder of the allowance will be paid to the designated beneficiary.

• Employees are not eligible for a severance allowance if they:

  • are discharged;

  • voluntarily end their employment;

  • die before the effective date of the termination; or

  • are eligible for, and are receiving sick leave or Long-Term Disability (LTD) payments during a period of disability.

A&B sponsors a health care and life insurance benefits program for its retired employees. If you retire from active service with A&B or one of its participating companies as a full-time salaried employee, you may be eligible to receive these benefits, which are provided through the Alexander & Baldwin, Inc. Retiree Health and Welfare Benefit Plan.

Your eligibility for these benefits will be determined based on a combination of your age and years of service. For example: If you retire at age 65, you must have completed at least 10 years of service with A&B to be eligible; in contrast, if you retire at age 55, you must have completed at least 30 years of service to be eligible.

Health Insurance Benefits

If you are eligible for the A&B Retiree Health and Welfare Benefit Plan, you will be offered one or more types of health care coverage from which to choose. The cost of this coverage which will be paid for by A&B will be based on your age and the number of years of service you have completed. You may also elect health care coverage for your spouse; however, you must pay the full cost of your spouse's coverage.

Life Insurance Benefits

If you are eligible for the A&B Retiree Health and Welfare Benefit Plan, you receive life insurance coverage at no cost to you. The amount of this coverage is based on either...

• Your base salary at the time you retire (or the amount of Employee Life Insurance coverage you had before you retired); or

• The number of years since you retired.

For More Information...

If you would like additional information regarding the A&B Retiree Health and Welfare Benefit Plan, contact your local Human Resources representative. If you retire and become eligible for the Plan, you will receive complete details at that time. Although A&B intends to continue this Plan, it reserves the right to change, amend or terminate the Plan at any time and for any reason.

A&B supports its employees efforts to increase their skills—and therefore their value to the Company—by paying for certain training and education programs, as well as college degree programs.* To be eligible for benefits, you must have completed at least one year of continuous service with A&B or one of its participating affiliates.

You may receive reimbursement of up to two-thirds of the cost of an approved course (one which in the Company's judgment will enhance your value to A&B). The remaining one-third will be reimbursed if the program is a previously approved degree program and you can provide proof that you completed the degree program course with a "B" average or better.

To be eligible for reimbursement, you must...

• Furnish receipts for books, fees and tuition paid; and

• Obtain Company approval before enrolling in each course.

You will receive reimbursement once you present proof of satisfactory completion of the course and the reimbursement has been approved by the appropriate responsible executive.

The A&B Transportation Benefit Plan is designed to help you reduce your commuting costs. The Plan, made possible by recent changes in the IRS Tax Code, allows you to pay for mass transit fares or parking costs related to your regular commute using pre-tax dollars.

How The Plan Works

If you incur commute expenses on a regular basis, you may enroll in either the Plan's Commuting or Parking benefits by completing the appropriate enrollment form(s).

When you complete the form(s), you will need to indicate the amount you would like withheld from your pay on a pre-tax basis specifically for these expenses. The amount you elect to set aside will be deducted from your pay before federal and state withholding taxes are calculated.

To receive reimbursement for eligible expenses (as described below), you must submit a claim form—along with your receipts or tickets—at any time throughout the year, but not later than March 31 of the following calendar year. Because the reimbursement you receive is not taxed, your commute and/or parking costs are paid tax-free.

You may change your election three times a year; the change will take effect on the next April 1, July 1, or October 1. To make an election change or to end participation, you must send or email your request at least 30 days prior to the effective date to your local Human Resources Representative.

You may stop participating at any time; however, you may not re-enroll until the following year. Any unused balance remaining at the end of the Plan Year cannot be refunded to you and will be carried over into the new Plan Year. Please note that if you have any rollover of funds from one year to the next, you must enroll in the Transportation Benefit Plan for the next year in order to access those funds in your account.

What The Plan Covers

The maximum monthly amount for which you can claim reimbursement is based on the type of expenses incurred. You can claim up to...

• $230 per month for Commuting expenses, and/or

• $230 per month for Parking expenses

... as described below.

Note, however, that your reimbursement will not exceed the actual amount of the expense(s) you incur. Let's say you take transit to work and contribute $60 a month to your transportation account. If your actual commuting expense was only $40 one month, you will be reimbursed $40. On the other hand, if your actual expense was $60 the following month, you could receive the full $60 provided you had enough money in your account.

In addition to the benefits described here, you may be able to participate in other benefit programs available at your work site. For information about the other benefits that may be available, contact your local Human Resources representative or access the information available on-line at your worksite.