ADDENDUM TO STOCK OPTION AGREEMENTS, PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT, AND TIME-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT

ADDENDUM

TO

STOCK OPTION AGREEMENTS,

PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT,

AND

TIME-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT

The following provisions are hereby incorporated into, and are hereby made a part of, the terms and provisions governing each option, performance-based restricted stock unit, and time-based restricted stock unit (collectively, the “Award”) granted to ____________________ (“Participant”) under the Alexander & Baldwin, Inc. 2007 Incentive Compensation Plan. The applicable stock option agreements, performance-based restricted stock unit award agreement, and time-based restricted stock unit award agreement (collectively, the “Agreements”) for the Award are hereby amended as follows.

Appendix A (“Definitions”) of the Agreements is hereby amended by deleting the existing definition of “Good Reason” and replacing it with the following provisions:

Good Reason shall mean the occurrence of any of the following events effected without Participant’s consent: (A) a change in Participant’s position with the Corporation (or any P