Exhibit 10.1


 


July 28, 2021


 


Bonita I. Lee


 


 


 


	Re:	 	First Amendment to Amended and Restated Employment Agreement




 


Dear Ms. Lee:


 


This is to memorialize a FIRST AMENDMENT to your
AMENDED AND RESTATED EMPLOYMENT AGREEMENT dated February 26, 2020 (the “Agreement”) with Hanmi Financial Corporation,
a Delaware corporation, and Hanmi Bank, a state-chartered bank incorporated under the laws of the State of California (together, the “Company”).
It sets forth certain changes to the terms of your employment with the Company, effective as of close of business on the date set forth
above (the “Effective Date”). Effective as of the Effective Date, this Agreement supersedes and replaces those
provisions in your Agreement set forth herein. The numbered paragraph set forth below corresponds to the same numbered paragraph set forth
in your Agreement.


 


		3.	Your Compensation.



 


(a)                
Salary. During the Term, you will receive an annual base salary, which may be increased from time to time, but not reduced
(other than a reduction that would affect all senior executives of the Bank based on the financial performance of the Bank, and in such
case, your reduction shall not exceed the percentage reduction of similarly situated senior executives of the Bank) (your “Salary”)
payable in accordance with the Company’s regular payroll practices. The amount of your Salary will be $650,000, retroactively effective
as of April 4, 2021. Your Salary will be reviewed at least annually commencing in 2022 and may be increased, but not decreased (except
as noted above), in the sole discretion of the independent members of the Board, based on the recommendation from the Compensation and
Human Resources Committee (the “CHRC”).


 


(b)               
Incentive Compensation. During the Term, you will be eligible to receive an annual cash bonus (your “Bonus”)
for each fiscal year of the Company commencing with the fiscal year ending December 31, 2020, pursuant to an annual cash bonus plan. For
the fiscal year ending December 31, 2021, your target Bonus shall be 75% of your Salary, with the possibility of increase above 75% of
your Salary in the sole discretion of the CHRC. The actual amount of the Bonus and the performance goals applicable to the Bonus shall
be determined in accordance with the terms and conditions of said bonus plan as in effect from time to time, as determined by the independent
members of the Board in its sole discretion, based on a recommendation from the CHRC.


 


In all other respects, your Agreement remains in
full force and effect.


 


This First Amendment may be executed in counterparts,
each of which will constitute an original and all of which, when taken together with the Agreement, will constitute one agreement. However,
this First Amendment will not be effective until the date both parties have executed this First Amendment.


 


[Signature Page Follows]


 


 






     


     


    

	 	Very truly yours,	 
	 	 	 
	 	HANMI FINANCIAL CORPORATION
	 	 	 
	 	 	 
	 	 	 
	 	/s/ John Ahn	 
	 	Name: John J. Ahn	 
	 	Title: Chairman	 
	 	 	 
	 	 	 
	 	HANMI BANK
	 	 	 
	 	 	 
	 	 	 
	 	/s/ John Ahn	 
	 	Name: John J. Ahn	 
	 	Title: Chairman	 




 


 


ACCEPTED AND AGREED TO:


 


 


 


	/s/ Bonita Lee	 




Bonita I. Lee


 


Dated: July 30, 2021


 


 


 




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