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CPF > SEC Filings for CPF > Form 8-K on 31-Jan-2014All Recent SEC Filings

Show all filings for CENTRAL PACIFIC FINANCIAL CORP

Form 8-K for CENTRAL PACIFIC FINANCIAL CORP


31-Jan-2014

Entry into a Material Definitive Agreement, Material Modification


Item 1.01 Entry into a Material Definitive Agreement

Tax Benefits Preservation Plan

On January 31, 2014, Central Pacific Financial Corp., a Hawaii corporation (the "Company"), adopted an amendment ("Amendment") to the Tax Benefits Preservation Plan, dated as of November 23, 2010 (the "Plan") between the Company and Wells Fargo Bank, National Association, a national banking association, as Rights Agent (the "Rights Agent") to extend the "Final Expiration Date" (as defined in the Plan) to continue to protect against a possible limitation on the Company's ability to use certain tax assets (such as, Net Operating Loss ("NOLs") carry forwards) to offset future income. The Amendment extended the Final Expiration Date under the Plan for an additional two-year period, from February 18, 2014 to February 18, 2016.

A copy of the Amendment, is attached hereto as Exhibit 4.1 and incorporated herein by reference.



Item 3.03 Material Modification to Rights of Security Holders

The information set forth under "Item 1.01 Entry Into a Material Definitive Agreement" of this Current Report on Form 8-K is incorporated into this Item 3.03 by reference.



Item 9.01. Financial Statements and Exhibits.

(d) The following exhibits are being filed herewith:

Exhibit No.                            Exhibit Description
4.1            Amendment No. 1 to Tax Preservation Plan, dated January 31, 2014,
               between Central Pacific Financial Corp. and Wells Fargo Bank,
               National Association


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