EX-10.B1X 4 a10b1xamendment1toexcessbe.htm EX-10.B1X
ALEXANDER & BALDWIN, INC. EXCESS BENEFITS PLAN
AMENDMENT NO. 1
The Alexander & Baldwin, Inc. Excess Benefits Plan, as amended and restated effective November 1, 2023 (the "Plan"), is hereby amended effective January 1, 2026, as follows:
1.Item 3 of Appendix A to the Plan shall be amended to state in its entirety as follows:
"3. The effective marginal tax rate is 39% and will remain at that rate in future years, unless changed by amendment to this Plan.”
IN WITNESS WHEREOF, Alexander & Baldwin, Inc. has caused this Amendment No. 1 to the Plan to be executed by its duly authorized officers on this 29 th day of October, 2025.
ALEXANDER & BALDWIN, INC.

By: | /s/ Derek Kanehira |  |  |
| Its Senior Vice President |  |  |
By: | /s/ Alyson J. Nakamura |  |  |
| Its Vice President & Secretary |  |  |