December 20, 2017
December 20, 2017
Xx. Xxxx X. Xxx
000 Xxxxxx Xxxxxx
Honolulu, HI 96813
Dear Xxxx:
In connection with the letter agreement (the “Letter Agreement”), dated July 10, 2017, between you and the Company, the Company is willing to increase the third retention payment by $20,000 in order to compensate you for certain retirement benefits you would have been eligible for if you had been participating in the Company’s Performance Improvement Incentive Plan for 2017, as follows:
3. If you remain employed with the Company through December 31, 2017, you will receive an additional payment of $195,000 (less applicable withholdings) in the Company’s last pay period of December 2017.
Except as herein stated, the Letter Agreement shall remain in full force and effect as originally stated. If you are in agreement with these terms, please sign below.
Very truly yours,
By /s/ Son-Xxx Xxxx
Son-Xxx Xxxx
Vice President, Human Resources
Agreed & Accepted:
/s/ Xxxx X. Xxx December 19, 2017
Xxxx X. Xxx Date