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EXHIBIT 10.1




CHANGE IN CONTROL AGREEMENT





         This AGREEMENT is made effective as of                                          by and among United Commercial Bank
(the “Bank”), a California bank, with its principal administrative office at 555 Montgomery Street,
San Francisco, California 94111, UCBH Holdings, Inc. (the “Holding Company”), a corporation
organized under the laws of the State of Delaware which is the holding company of the Bank (any
reference to the Company shall be deemed to include the Holding Company and the Bank) and
                                         (“Executive”).



         In consideration of the contribution and responsibilities of Executive, and upon the other
terms and conditions hereinafter provided, the parties hereto agree as follows:



1.      TERM OF AGREEMENT.




         The period of this Agreement shall be deemed to have commenced as of the date first above
written and shall continue for a period of thirty-six (36) full calendar months thereafter.
Commencing on the first anniversary date of this Agreement and continuing at each anniversary date
thereafter, the board of directors of the Company (the “Board”) may extend the Agreement for an
additional year. The Board will review the Agreement and Executive’s performance annually for
purposes of determining, within its sole discretion, whether to extend this Agreement, and the
results thereof shall be included in the minutes of the Board’s meeting.



2.      CHANGE IN CONTROL.




         (a)     For purposes of this Agreement, a “Change in Control” of the Company shall mean an event
or series of event of a nature that at such time: (i) any “person” (as the term is used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) is or becomes the
“beneficial owner” (as determined under Rule 13d of such Act), directly or indirectly, of voting
securities of the Bank or the Holding Company representing fifty percent (50%) or more of the
Bank’s or the Holding Company’s outstanding voting securities or right to acquire such securities
except for any voting securities of the Bank purchased by the Holding Company and any voting
securities purchased by any employee benefit plan of the Bank or the Holding Company, or (ii) a
plan of reorganization, merger, consolidation, sale of all or substantially all the assets of the
Bank or the Holding Company or similar transaction occurs in which the Bank or the Holding Company
is not the resulting entity.



         (b)     If a Change in Control has occurred pursuant to Section 2(a), Executive shall be entitled
to the benefits provided in paragraph (c) of this Section 2 upon his subsequent termination of
regular employment within thirty-six (36) months following the Change in Control due to: (i)
termination of Executive’s employment (other than Termination for Cause as defined below) or (ii)
Executive resigns following any material adverse change in or loss of title, office or significant
authority or responsibility, material reduction in base salary or benefits (excluding bonus) or
relocation of his principal place of employment by more than 25 miles from its location at the time
of the Change in Control (“Change of Duties”). No



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benefits shall be provided to the Executive
pursuant to this Agreement if the Executive is terminated for reasons other than those specified in
this paragraph 2(b).



         (c)     Upon Executive’s entitlement to benefits pursuant to Section 2(b), (i) the Company shall
pay Executive, or in the event of his subsequent death or disability, his beneficiaries, his estate
or other representative, as the case may be, a sum equal to three (3) times the highest annual
compensation (defined as base salary) due to the Executive for the last three years immediately
preceding the Change in Control or such lesser number of years in the event that Executive shall
been employed by the Company for less than three years, less all required and applicable
withholding; and (ii) any unvested stock options and related rights and unvested awards granted to
Executive under any stock option and similar plans shall immediately vest and shall be exercisable
within one (1) year. Within ten (10) days of Executive’s entitlement of benefits pursuant to
Section 2(b), the Executive can elect to receive a lump sum payment for the compensation benefits
set forth in subsection (c)(i) above. In the event that no election is made, payment to Executive
shall be made on a monthly basis over a period of thirty-six (36) months.



         (d)     Upon the occurrence of a Change in Control followed by Executive’s termination of
employment or resignation (other than Termination for Cause), the Company and its successors or
assigns shall cause to be continued life, medical and disability coverage substantially identical
to the coverage maintained by the Company for the Executive prior to Executive’s termination or
resignation. Such coverage and payments shall cease upon the expiration of thirty-six (36) full
calendar months from the date of termination or resignation.



         (e)     As used in this Section 2, the term “Termination for Cause” shall mean termination because
of an act or acts of gross misconduct, willful neglect of duties or conviction of a felony or
equivalent violation of law or any other act or failure to act that materially damages the
reputation of the Company as determined by the Board in its sole discretion after a good faith
investigation. For the purposes of this Section, no act, or the failure to act, on Executive’s
part shall be “willful” unless done, or omitted to be done, without reasonable belief that the
action or omission was in the best interests of the Company or its affiliates. Notwithstanding the
foregoing, Executive shall not be deemed to have been Terminated for Cause unless and until there
shall have been delivered to him a Notice of Termination which shall include a copy of a resolution
duly adopted by the affirmative vote of not less than seventy five percent (75%) of the members of
the Board at a meeting of the Board called and held for that purpose, finding that in the good
faith opinion of the Board, Executive was guilty of conduct justifying Termination for Cause and
specifying the relevant facts supporting the Termination for Cause. Executive shall not have the
right to receive compensation or other benefits for any period after the Date of Termination. The
Date of Termination shall be the date on which the Notice of Termination is delivered to Executive
or, in the event the Company is unable to reasonably locate Executive, three (3) business days
after delivery of such Notice of Termination to Executive at his last known address.



         (f)     Company expressly acknowledges and agrees that Executive shall have a contractual right to
the full benefits of this Agreement, and Company and any successor expressly waives any rights it
may have to deny liability for any breach of its contractual



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commitment hereunder upon the grounds
of lack of consideration, accord and satisfaction or similar defense. In any dispute arising after
a Change of Control as to whether Executive is entitled to the benefits of this Agreement and all
incentive plans, there shall be a presumption that the Executive is entitled to such benefits and
the burden of proving otherwise shall be on the Company or any successor.



3.      LIMIT IN PAYMENTS BY THE COMPANY.




         (a)     In the event that any amount or benefit paid or distributed to the Executive pursuant to
this Agreement, taken together with any amounts or benefits otherwise paid or distributed to the
Executive by the Company (the “Covered Payments”), would be an “excess parachute payment” as
defined in Section 280G of the Internal Revenue Code of 1986 (the “Code”) and would thereby subject
the Executive to the tax (the “Excise Tax”) imposed under Section 4999 of the Code (or any similar
tax that may hereafter be imposed), the provisions of this Section 3 shall apply to determine the
amounts payable to Executive pursuant to this Agreement.



         (b)     Immediately following delivery of any Notice of Termination, the Company shall notify the
Executive of the aggregate present value of all termination benefits to which the Executive would
be entitled under this Agreement and any other plan, program or arrangement as of the Date of
Termination, together with the projected maximum payments, determined as of such projected Date of
Termination that could be paid without the Executive being subject to the Excise Tax.



         (c)     If the aggregate value of all compensation payments or benefits to be paid or provided to
the Executive under this Agreement and any other plan, agreement or arrangement with the Company
exceeds the amount which can be paid to the Executive without the Executive incurring an Excise Tax
and the Executive would receive a greater net after-tax amount (taking into account all applicable
taxes payable by the Executive, including any Excise Tax) by applying the limitation contained in
this Section 3(c), then the amounts payable to the Executive under this Section 3 shall be reduced
(but not below zero) to the maximum amount which may be paid hereunder without the Executive
becoming subject to such an Excise Tax (such reduced payments to be referred to as the “Payment
Cap”). In the event that the Executive receives reduced payments and benefits hereunder, the
Executive shall have the right to designate which of the payments and benefits otherwise provided
for in this Agreement that he will receive in connection with the application of the Payment Cap.
If it shall be determined that Executive would not receive a net after-tax benefit (taking into
account income, employment and any Excise Tax) resulting from application of the Payment Cap, then
no reduction shall be made with respect to the pay or benefits due to Executive.



         (d)     For purposes of determining whether any of the covered Payments will be subject to the
Excise Tax and the amount of such Excise Tax:




        (i)     such Covered Payments will be treated as “parachute payments” within the meaning of
Section 280G of the Code, and all “parachute payments” in excess of the “base amount” (as
defined under Section 280G(b)(3) of the Code) shall be treated as subject to the Excise Tax,
unless, and except to the extent that, in the good faith



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judgment of the Company’s
independent certified public accountants or tax counsel selected by such accountants (the
“Accountants”), relying on the best authority available at the time of such determination
(including, but not limited to, any proposed Treasury Regulations upon which taxpayers may
rely), that the Company has a reasonable basis to conclude that such Covered Payments (in
whole or in part) either do not constitute “parachute payments” or represent reasonable
compensation for personal services actually rendered (within the meaning of Section
280G(b)(4)(B) of the Code) in excess of the “base amount,” or such “parachute payments” are
otherwise not subject to such Excise Tax, and




        (ii)     the value of any non-cash benefits or any deferred payment or benefit shall be
determined by the Accountants in accordance with the principles of Section 280G of the Code



         (e)     For purposes of determining whether the Executive would receive a greater net after-tax
benefit were the amounts payable under this Agreement reduced in accordance with Section 3(c), the
Executive shall be deemed to pay:




        (i)     Federal income taxes at the highest applicable marginal rate of Federal income
taxation for the calendar year in which the first amounts are to be paid hereunder, and




        (ii)     any applicable state and local income taxes at the highest applicable marginal
rate of taxation for such calendar year, net of the maximum reduction in Federal income
taxes which could be obtained from the deduction of such state or local taxes if paid in
such year; provided, however, that the Executive may request that such determination be made
based on his individual tax circumstances, which shall govern such determination so long as
the Executive provides to the Accountants such information and documents as the Accountants
shall reasonably request to determine such individual circumstances.



         (f)     If the Executive receives reduced payments and benefits under this Section 3 (or this
Section 3 is determined not to be applicable to the Executive because the Accountants conclude that
the Executive is not subject to any Excise Tax) and it is established pursuant to a final
determination of the court or an Internal Revenue Service proceeding (a “Final Determination”)
that, notwithstanding the good faith of the parties in applying the terms of this Agreement, the
aggregate “parachute payments” within the meaning of Section 280G of the Code paid to the Executive
or for his benefit are in an amount that would result in the Executive being subject to an Excise
Tax and the Executive would still be subject to the Payment Cap under the provisions of Section
3(c), then the amount equal to such excess parachute payments shall be promptly refunded by the
Executive on demand. If this Section 3 is not applied to reduce the Executive’s entitlements under
this Agreement because the Accountants determine that the Executive would not receive a greater net
after-tax benefit by applying this Section 3 and it is established pursuant to a Final
Determination that, notwithstanding the good faith of the parties in applying the terms of this
Agreement, the Executive would have received a greater net after-tax benefit by subjecting his
payments and benefits hereunder to the Payment Cap, then the aggregate “parachute payments” paid to
the



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Executive or for his benefit in excess of the Payment Cap shall be refunded by the Executive as
soon as possible. If the Executive receives reduced payments and benefits by reason of this
Section 3 and it is established pursuant to a Final Determination that the Executive could have
received a greater amount without exceeding the Payment Cap, then the Company shall promptly
thereafter pay the Executive the aggregate additional amount which could have been paid without
exceeding the Payment Cap as soon as practicable.



4.      NOTICE OF TERMINATION




         (a)     Any purported termination by the Company or resignation by Executive in connection with a
Change in Control or within 36 months after the Change in Control shall be communicated by Notice
of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination”
shall mean a written notice which shall indicate the specific termination provision in this
Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed
to provide a basis for termination of Executive’s employment under the provision so indicated.



         (b)     “Date of Termination” shall mean the date described in paragraph 2(d) above.



         (c)     Executive shall have thirty (30) days within which to dispute the Notice of Termination,
or he shall forever waive any arguments, disputes, bases, or reasons that the Notice of Termination
is improper, void, unenforceable, ineffective or should not preclude him from being converted to
stand-by employment status and receiving the benefits of paragraph 2(c). Any dispute must be made
timely by delivering written notice to the Company’s designee within such thirty (30) days, which
written notice shall contain a description with reasonable detail of all reasons, bases, and facts
constituting and supporting Executive’s dispute. The dispute shall be resolved by final, binding
arbitration as further set forth in Section 13 below.



5.      SOURCE OF PAYMENTS.




         It is intended by the parties hereto that all payments provided in this Agreement shall be
paid in cash or check from the general funds of the Company.



6.      EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFIT PLANS.




         This Agreement contains the entire understanding between the parties hereto and supersedes any
prior written or oral agreement between the Company and Executive relating to the subject matter
hereof. Nothing in this Agreement shall confer upon Executive the right to continue in the employ
of the Company or shall impose on the Company any obligation to employ or retain Executive in its
employ for any period.



7.      MODIFICATION AND WAIVER.




         (a)     This Agreement may not be modified or amended except by an instrument in writing signed by
the parties hereto.



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         (b)     No term or condition of this Agreement shall be deemed to have been waived, nor shall
there be any estoppel against the enforcement of any provision of this Agreement, except by written
instrument of the party charged with such waiver or estoppel. No such written waiver shall be
deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate
only as to the specific term or condition waived and shall not constitute a waiver of such term or
condition for the future or as to any act other than that specifically waived.



8.      REQUIRED REGULATORY PROVISIONS.




         (a)     The Board may terminate Executive’s employment at any time, but any termination by the
Board, other than Termination for Cause, shall not prejudice Executive’s right to compensation or
other benefits under this Agreement. Executive shall not have the right to receive compensation or
other benefits for any period after Termination for Cause as defined in Section 2 hereinabove, or
after resignation for reasons other than those specified in paragraph 2(b) above.



         (b)     If Executive is suspended from office and/or temporarily prohibited from participating in
the conduct of the Company’s affairs by a notice served under Section 8(e)(3) or 8(g)(1) of the
Federal Deposit Insurance Act (12 U.S.C. Section 1818(e)(3) or (g)(1)), the Company’s obligations
under this contract shall be suspended as of the date of service, unless stayed by appropriate
proceedings. If the charges in the notice are dismissed, the Company shall: (i) pay Executive all
or part of the compensation withheld while their contract obligations were suspended and (ii)
reinstate the obligations which were suspended.



         (c)     If Executive is removed and/or permanently prohibited from participating in the conduct of
the Company’s affairs by an order issued under Section 8(e)(4) or 8(g)(1) of the Federal Deposit
Insurance Act (12 U.S.C. Section 1818(e)(4) or (g)(1)), all obligations of the Company under this
contract shall terminate as of the effective date of the order, and the Company shall have no
obligation to provide any compensation or benefits which were suspended while Executive was
suspended or prohibited from participating in the conduct of the Company’s affairs by notice
described in paragraph 9(b) above.



         (d)     If the Company is in default as defined in Section 3(x)(1) of the Federal Deposit
Insurance Act, all obligations of the Company under this Agreement shall terminate as of the date
of default, but this paragraph shall not affect any vested rights of the contracting parties.



         (e)     Any payments made to Executive pursuant to this Agreement, or otherwise, are subject to
and conditioned upon compliance with 12 U.S.C. ss.1828(k) and any rules and regulations promulgated
thereunder.



9.      SEVERABILITY.




         If, for any reason, any provision of this Agreement is held invalid, such invalidity shall not
affect any other provision of this Agreement not held so invalid, and each such other provision
shall to the full extent consistent with law continue in full force and effect. If any



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provision
of this Agreement is held invalid in part, such invalidity shall in no way affect the rest of such
provision not held so invalid, and the rest of such provision, together with all other provisions
of this Agreement, shall to the full extent consistent with law continue in full force and effect.



10.    HEADINGS FOR REFERENCE ONLY.




         The headings of sections and paragraphs herein are included solely for convenience of
reference and shall not control the meaning or interpretation of any of the provisions of this
Agreement. In addition, references to the masculine shall apply equally to the feminine.



11.    GOVERNING LAW.




         This Agreement shall be governed by the laws of the State of California, without regard to its
principles of conflict of law.



12.    ARBITRATION.




         Any dispute or controversy arising under or in connection with, or relating to this Agreement
shall be settled exclusively by final, binding arbitration, conducted before a single arbitrator
sitting in a location selected by Executive within fifty (50) miles from the location of the
Company’s main office, in accordance with the rules of the American Arbitration Association
governing arbitration of employment disputes then in effect. The arbitrator shall either be agreed
between the parties, or shall be selected in accordance with applicable AAA rules. The arbitrator
shall have authority to grant interim relief (including interim relief on an expedited basis, such
as injunctive relief), which relief may be entered in any court having jurisdiction. The parties
specifically consent to the jurisdiction of the federal and state courts located within the County
of San Francisco to enter an arbitration award or injunctive relief pursuant to this Agreement.
Judgment may be entered on the arbitrator’s award in any court having jurisdiction. The prevailing
party at arbitration shall be entitled to recover their costs and reasonable attorneys fees, and
the arbitrator shall be vested with authority to determine the prevailing party. The parties have
signified their agreement with the particular provisions of the arbitration agreement by initialing
this Section 17 in the spaces provided below.



13.    RELEASE.




         By accepting the benefits under this Agreement upon any payments hereunder, Executive or in
the event of Executive’s subsequent death, the Authorized Representative releases and discharges
the Company, and its successors and assigns and their directors, officers, agents, employees,
consultants and affiliated and controlled companies (the “Related Parties”), from any and all
claims, demands and causes of action arising out of or related to Executive’s employment with the
Company and to the termination of that employment. Prior to and as a condition to receipt of any
payment, benefit, or consideration under this Agreement, Executive, or in the event of Executive’s
subsequent death, the Authorized Representative, shall sign and deliver to the Company a full,
complete, general release of any and all known and unknown claims against the Company and Related
Parties (other than



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indemnity obligations of the Company hereunder) to the fullest extent permitted
under California law, in a form satisfactory to the Company.



14.    SUCCESSOR TO THE COMPANY.




         Any successor or assignee, whether direct or indirect, by purchase, merger, consolidation or
otherwise, to all or substantially all the business or assets of the Company shall be required to
assume and agree to perform the Company’s obligations under this Agreement, in the same manner and
to the same extent that the Company would be required to perform if no such succession or
assignment had taken place.



15.    INDEMNIFICATION




         The Company agrees to indemnify Executive in accordance with the terms of the Company’s
standard indemnification agreement which has been executed by the Company and Executive. To the
extent available on commercially reasonable terms, the Company shall obtain and maintain
appropriate Directors and Officers liability insurance including Executive as a named insured in an
amount comparable to industry standards.



16.    NONDISCLOSURE




         Executive recognizes and acknowledges that the knowledge of the confidential business
activities and plans for business activities of the Company as it may exist from time to time is a
valuable, special and unique asset of the business of the Company. Executive will not, during or
after the term of his employment, disclose any knowledge of the past, present, planned or
considered confidential business activities of the Company that is not public or readily accessible
to the public from non-confidential published sources to any person, firm, corporation, or other
entity for any reason or purpose whatsoever unless expressly authorized by the Board or required by
law or policies of the Company. Notwithstanding the foregoing, Executive may disclose any
knowledge of banking, financial and/or economic principles, concepts or ideas which are not solely
and exclusively derived from the confidential business plans and activities of the Company. In the
event of a breach or threatened breach by the Executive of the provisions of this Section, the
Company will be entitled to an injunction restraining Executive from disclosing, in whole or in
part, the knowledge of the past, present, planned or considered confidential business activities of
the Company. Nothing herein will be construed as prohibiting the Company from pursuing any other
remedies available to the Company for such breach or threatened breach, including the recovery of
damages from Executive.



17.    ADVICE OF COUNSEL.




         Each party acknowledges that, in executing this Agreement, such party has had the opportunity
to seek the advice of independent legal counsel, and has read and understood all of the terms and
provisions of this Agreement. This Agreement shall not be construed against any party by reason of
the drafting or preparation hereof.



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18.    POST-TERMINATION OBLIGATIONS.




         All payments and benefits to Executive under this Agreement shall be subject to Executive’s
compliance with the terms of this Agreement. Executive’s obligation to furnish such information
and assistance to the Company as may reasonably be required by the Company in connection with any
litigation or other judicial or administrative matter in which the Company or any of its
Subsidiaries or affiliates is, or may become, a party provided that the Company shall reimburse
Executive for all reasonable expenses incurred in connection with such cooperation.



19.    AT WILL EMPLOYMENT.




         Notwithstanding, the terms and conditions of this Agreement each party acknowledges that this
Agreement is not an employment agreement and that Executive is an “At Will Employee” or “Employment
At Will” as defined in the Human Resources Personnel Policy Manual.







SIGNATURES




         IN WITNESS WHEREOF, United Commercial Bank and UCBH Holdings, Inc. have caused this Agreement
to be executed by their duly authorized officers, and Executive has signed this Agreement, on the
                     day of                     , ___.



	 	 	 	 	 	 	 
	ATTEST:	 	 	 	United Commercial Bank
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Secretary
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	SEAL
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	ATTEST:	 	 	 	UCBH Holdings, Inc.
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Secretary
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	SEAL
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	WITNESS:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 






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