2007 Equity Incentive Plan Notice of Performance Unit / Share Award



 Exhibit 10.2 
 NARA BANCORP, INC. 
 2007 EQUITY INCENTIVE PLAN 
 NOTICE OF PERFORMANCE UNIT / SHARE AWARD GRANT AND AGREEMENT 
  

							
	Name:	 		  	Unit / Share #:	  	
	Address:	 		  	Plan Name:	  	2007 Equity Incentive Plan
	Employee ID:	 		  		  	

 Performance [Units/ Shares] Agreement (this “Agreement”), dated as of
_____________, _____ (the “Grant Date”), between Nara Bank and/or Nara Bancorp, Inc. (collectively the “Company”) and _________________ (the “Participant”): 
 This Agreement is pursuant to the terms of the Nara Bancorp, Inc. 2007 Equity Incentive Plan (the “Plan”), a copy of which has been furnished
to the Participant and the terms of which are incorporated herein by reference. All capitalized terms that are used in this Agreement that are not defined herein have the meanings defined in the Plan. In the event of a conflict between the terms of
the Plan and the terms of this Agreement, the terms of the Plan shall prevail. Also attached for your reference is a copy of the Prospectus. 
 Section 1. Grant of Award. The Participant is hereby granted an award of Performance [Unit /Shares] representing XXXX shares of Common Stock of Nara Bancorp, Inc. under the terms and conditions
specified herein (the “Award”). [Vested Performance Units will be settled in shares of Common Stock of Nara Bancorp, Inc.] 
 Section 2. Vesting of Units. 
 2.1 Vesting Schedule. Subject to the limitations described in the
Plan, units covered by the Award (the “Performance [Units / Shares]”) shall vest based on a) the passage of time, _______ year cliff vesting, and b) the attainment of certain performance goals as described in the following vesting
schedule. To determine the total number of Performance [Units / Shares] you will be granted under the Award the Company will look at the weighted vesting schedule below. The schedule below is for the first year of vesting, or until modified
by the Company. Each year the performance criteria may be modified by the Company in their complete discretion. Each performance criteria will be given a certain weight. For each goal you will receive vesting credit based on goal attainment and the
weight given to each performance criteria. The Award is the maximum number of Performance [Unit /Shares] you may be granted. 
  

			
	Performance Criteria	  	Weight Given
		
	 individual performance criteria
	  	XX%
		
	 corporate performance criteria
	  	XX%








 Section 3. Withholding of Taxes. When the Performance [Units / Shares]
vest, you will be deemed to have earned taxable income in the amount that is equal to the Nasdaq closing selling price per share of Common Stock multiplied by the total number of Performance [Units / Shares] which vested. The Company is
required to withhold applicable federal and state income and employment taxes for this income. The Company may, at its option, satisfy such withholding obligation by reducing the total number of shares of Common Stock issued to the Participant. The
reduction in the number of shares will have a fair market value equal or slightly greater than the Company’s minimum withholding obligation. After applying the tax withholdings from the equivalent cash value, the Company will pay to Participant
in cash any remaining amount. 
  

					
	PARTICIPANT	 		 	NARA BANCORP, INC. / NARA BANK
			
	  	 		 	  
	XXXXXXXXXXXX	 		 	Min Kim
			
		 		 	  
		 		 	President and CEO
			
	 	 		 	
	Address	 		 	
			
	 	 		 	
	Telephone or Facsimile