Overview

The A&B Individual Deferred Compensation (IDC) Plan is a valuable part of the A&B Retirement and Investment Program—but it's up to you to make the most of this savings and investment opportunity. This section of your Handbook provides a detailed overview of the IDC Plan.

The A&B IDC Plan (also referred to as a 401(k) plan) allows you to save and invest money on a tax-deferred basis. Under this Plan, you can contribute a portion of your salary through automatic payroll deductions on a tax-deferred basis. A&B also provides you with a Company matching contribution if you meet the Plan's eligibility requirements. Thus, the Plan provides you with a convenient way to...

• Reduce your taxable income (and the taxes you pay) "today,"

• Save for the long term, and

• Boost your savings with Company matching contributions.

Your contributions, including the Company matching contributions, are invested on a tax-deferred basis—according to your instructions—in one or more available investment options. You decide and are responsible for how you invest your money.

Much of the information included in the IDC Plan information presented here—particularly the information regarding distributions, beneficiary designations, plan administration, and claiming benefits—also applies to the PSR Plan and is not repeated in the PSR Plan description.

Plan Highlights

The IDC Plan has several features designed to help you maximize your savings and investment potential...

• Convenient payroll deductions

  The Plan's automatic payroll deduction feature makes saving easy and convenient. Once you take the first step and enroll in the Plan, your savings grow automatically with each paycheck.

• Company matching contribution

  A special feature of the Plan is the Company matching contribution. You are eligible for the Company match if you have met the Plan's eligibility requirements.

• Wide choice of investment options

  The Plan features several investment options, providing you with a broad spectrum of risk and reward potential. These options enable you to select an appropriate investment mix, depending on your long-term savings goals and retirement objectives.

• On-demand information

  For those who want to track their savings and investments, information is just a phone call—or a mouse click—away through the information resources provided by Fidelity Investments, the Plan recordkeeper (as designated by the Plan Administrator).

• Flexibility and control

  Your Account balance is updated each business day so you always know how your investments are performing. You may change your contribution percentage and your investment mix on a daily basis.

• Access to your money

  The Plan is designed as a long-term savings and investment vehicle. However, there are provisions that allow you to access your Account funds for a variety of purposes.

Details on these provisions are provided in this section of your Handbook.

How To Enroll

You are eligible to enroll in the IDC Plan on your hire date or anytime thereafter, as long as you meet the eligibility requirements outlined under Who Is Eligible. If you leave A&B and are later rehired, you may re-enroll immediately following your rehire date.

To enroll, you can either call Fidelity directly at 800-835-5098 or by logging on to NetBenefitsSM at www.401k.com. You will be asked to provide...

• The percentage of your salary you would like to contribute, up to a maximum percentage of 50%, subject to certain IRS limits (see Tax Deferred Contributions)

• Your beneficiary(ies) (see Beneficiary Designations); and,

• How you would like your contributions invested (see Investing Your Savings.)

Note: You are eligible for the Company matching contribution as of the first day of the month coincident with or following the date on which you complete one year of eligibility service.

Plan Costs

Alexander & Baldwin, Inc. currently pays, if applicable, most administrative fees and expenses required for maintaining the IDC Plan. However, as a participant your Account may be charged recordkeeping and trustee fees. You may also be charged a fee for any loan you obtain, as outlined under Applying For An IDC Loan... Also, the Company may, at any time, choose to pass on all or a portion of Plan administrative costs. If that happens, such costs would be paid from the Plan Accounts.

Investment-related fees and expenses (including, for example, management fees and brokerage commissions) are incurred within each of the funds available for the investment of your Plan Account. The investment performance information you receive as a Plan participant is reported net of these fees and expenses.