Document:

Agreement concerning Lonny D. Robinson Employment Arrangement

 EXHIBIT 10.5 
 CENTER FINANCIAL CORPORATION AND CENTER BANK 
 AGREEMENT CONCERNING COMPENSATION PROVISIONS 

 WHEREAS, Lonny D. Robinson (“Executive”) was granted certain severance and other compensation by the Personnel and
Compensation Committee of Center Financial Corporation and Center Bank (collectively referred to herein as the “Company”) on May 14, 2008, in connection with Executive’s employment by the Company as Executive Vice President and
Chief Financial Officer (the “Compensation Provisions”); 
 WHEREAS, the parties desire to amend the Compensation Provisions
in order to comply with the terms and conditions of the TARP Program as discussed below; 
 NOW, THEREFORE, the parties hereto agree
that the following shall take effect as of the date hereof: 
  

	 	12.	Center Financial Corporation (“Center Financial”), has entered or intends to enter into agreements with the U.S. Treasury Department (“UST”) under which Center
Financial will issue preferred shares and other securities to the UST as part of the Troubled Assets Relief Program Capital Purchase Program (“CPP”) established under the Emergency Economic Stabilization Act of 2008 (“EESA”).
Executive is a Senior Executive Officer (as such term is defined under EESA), has determined that Center Financial’s participation in the CPP will be of material benefit to Executive, approved Center Financial’s participation in the CPP,
requested that Center Financial participate in the CPP and agrees to abide by all terms of EESA restricting payment of compensation to Executive. 

  

	 	13.	EESA imposes certain restrictions on employment agreements, severance, bonus and incentive compensation, stock options and awards, and other compensation and benefit plans and
arrangements (“Plans”) maintained by Center Financial and its affiliates and requires that such restrictions remain in place for so long as the UST holds any debt or equity securities issued by Center Financial. The parties hereby agree
that all Plans providing benefits to Executive shall be construed and interpreted at all times that the UST maintains any debt or equity investment in Center Financial in a manner consistent with EESA, and all such Plans shall be deemed to have been
amended as determined by the Company so as to comply with the restrictions imposed by EESA. Executive recognizes that such changes may result in the reduction or elimination of benefits otherwise provided to Executive under this agreement or any
other Plan. Notwithstanding any other terms of this agreement or any other Plan providing benefits to Executive, to the extent that any provision of this agreement or any other Plan is determined by the Company to be subject to and not in compliance
with EESA, including the timing, amount or entitlement of Executive to any payment of severance, bonus or any other amounts, such provisions shall be interpreted and deemed to have been amended to comply with the terms of EESA. Without limiting the
foregoing, any “golden parachute payment” provided under this Agreement or any other Plan, as defined for purposes of EESA and Section 280(G)(e) of the Internal Revenue Code of 1986, as amended (the “Code”), shall be
prohibited and aggregate severance payments and benefits due as a result of Executive’s “involuntary termination” of employment as defined for purposes of EESA and the Code or in connection with any bankruptcy filing, insolvency or
receivership of Center Financial, Center Bank or certain other entities shall be limited to an amount not exceeding three times Executive’s “base amount” as defined in Section 280G(b)(3) of the Code. The parties hereto further
agree that (i) Executive shall at no time be entitled to receive any compensation based upon incentives that encourage Executive to take unnecessary and excessive risks on behalf of the Company; (ii) Executive shall promptly repay the
Company or any other affiliated entity compensating Executive, within thirty (30) days of demand, the amount of any bonus or incentive compensation paid to Executive based upon statements of earnings, gains or other criteria that are later
determined to be materially inaccurate; and (iii) all golden parachute payments to Executive are prohibited. 

	 	14.	Executive and the Company agree that the severance compensation under the Compensation Provisions will be reduced as provided below to avoid the penalties imposed on “golden
parachute payments” under the Code, which is also a requirement of EESA. 

  

	 	(a)	If the present value of all Executive’s severance compensation provided by the Company under and outside the Compensation Provisions is high enough to cause any such payment to
be a “golden parachute payment” (as defined in Section 280G(b)(2) of the Code or EESA), then one or more of such payments will be reduced by the minimum amount required to prevent the severance compensation under the Compensation
Provisions from being a “golden parachute payment. 

  

	 	(b)	Executive may direct the Company regarding the order of reducing severance compensation and other payments from the Company to comply with this paragraph. 

 

	 	15.	No Further Amendment. Except as set forth herein the terms of the Compensation Provisions shall remain in full force and effect without modification or amendment.

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of November 25, 2008. 
  

					
	CENTER BANK:	 	By:	 	 /s/ Peter Y. S. Kim

		 		 	Peter Y. S. Kim
		 		 	Chairman of the Board
			
	CENTER FINANCIAL:	 	By:	 	 /s/ Peter Y. S. Kim

		 		 	Peter Y. S. Kim
		 		 	Chairman of the Board
			
	EXECUTIVE:	 		 	 /s/ Lonny D. Robinson

		 		 	Lonny D. RobinsonSide Letter Agreement

 EXHIBIT 10.6 
 December 12, 2008 
 United States Department of the Treasury 
 1500 Pennsylvania Avenue, NW 
 Washington, D.C. 20220 
 Center Financial Corporation 
 3435 Wilshire Boulevard, Suite 700 

Los Angeles, California 90010 
 Ladies and Gentlemen: 
 Reference is made to that certain Letter Agreement incorporating the Securities Purchase Agreement – Standard Terms dated of even date herewith (the
“Securities Purchase Agreement”) by and among United States Department of Treasury (“Investor”) and Center Financial Corporation (“Company”). Investor and Company desire to set forth herein certain
additional agreements regarding Company’s commitment to the holder of the Preferred Shares after the closing of the transactions contemplated by the Securities Purchase Agreement. Terms that are defined in the Securities Purchase Agreement are
used in this letter agreement as so defined. 
 In order to comply with California Corporations Code §212(a), the Company has modified
section 7(b) of the Standard Provisions of the Certificate of Determination attached as Exhibit A to the Securities Purchase Agreement (the “Certificate of Determination”) to provide in pertinent part as follows: 

“Whenever, at any time or times, dividends payable on the shares of Designated Preferred Stock have not been paid for an aggregate of six
quarterly Dividend Periods or more, whether or not consecutive, the holders of the Designated Preferred Stock shall have the right, with holders of shares of any one or more other classes or series of Voting Parity Stock outstanding at the time,
voting together as a class, to elect two directors...” 
 By its execution hereof, the Company hereby confirms and agrees that as of
the date hereof and at all times while any shares of the Designated Preferred Stock are outstanding it shall maintain a range of directors of the Company that will permit the holder of the Preferred Shares to elect two directors in accordance with
said section 7(b). Currently Article III, Section 3.2 (the “Applicable Provision”) of the Company’s bylaws (the “Bylaws”) provides for a range of directors of no less than six (6) and no more than
eleven (11). At all times while any shares of the Designated Preferred Stock are outstanding, the Company shall not fill more than nine (9) director positions. In the event the Company desires to increase the number of directors beyond nine
(9), then the Company shall be required to amend the Bylaws to increase the maximum directors to always allow for at least two open director seats for the holders of the Preferred Shares to elect in accordance with Section 7(b) of the Standard
Terms of the Certificate of Determination of Preferences of Series A Fixed Rate Cumulative Perpetual Preferred Stock of Center Financial Corporation (and to amend the bylaws to provide that such provision may not be modified, amended or repealed by
the Company’s board of directors (or any committee thereof) or without the affirmative vote and approval of (x) the stockholders and (y) the holders of at least a majority of the shares of Designated Preferred Stock outstanding at the
time of such vote and approval). 
 The parties hereto acknowledge that there would be no adequate remedy at law if the Company fails to
perform any of its obligations under this letter agreement and that the Investor may be irreparably harmed by any such failure, and accordingly agree that the Investor, in addition to any other remedy to which it may be entitled at law or in equity,
to the fullest extent permitted and enforceable under applicable law shall be entitled to compel specific performance of the obligations of the Company under this letter agreement without the necessity of proving the inadequacy of monetary damages
as a remedy or the posting of a bond. 
 This letter agreement and the Certificate of Determination constitute the entire agreement, and
supersede all other prior agreements, understandings, representations and warranties, both written and oral, between the parties with respect to the subject matter hereof. 

 This letter agreement may be executed in counterparts, each of which shall be deemed an original and all
of which shall together constitute one and the same instrument. This letter agreement shall be governed in all respects, including as to validity, interpretation and effect, by the internal laws of the State of California, without giving effect to
the conflict of laws rules thereof. 
 In witness whereof, this letter agreement has been duly executed by the authorized representatives of
the parties hereto as of the date first above written. 
  

			
	CENTER FINANCIAL CORPORATION
		
	By:	 	 /s/ Jae Whan Yoo

	Name:	 	Jae Whan Yoo
	Title:	 	President and Chief Executive Officer
		
	By:	 	 /s/ Lonny D. Robinson

	Name:	 	Lonny D. Robinson
	Title:	 	Executive Vice President and Chief Financial Officer
	
	 UNITED STATES
 DEPARTMENT OF THE
TREASURY

		
	By:	 	 /s/ Neel Kashkari

	Name:	 	Neel Kashkari
	Title:	 	Interim Assistant Secretary for Financial Stability

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