Document:

Split dollar plan

 EXHIBIT 10.8 
  
 CENTER BANK 
 SPLIT DOLLAR PLAN 
  
 Pursuant to due
authorization by its Board of Directors, the undersigned, CENTER BANK, a state-chartered commercial bank located in Los Angeles, California (the “Company”), did constitute, establish and adopt the following Split Dollar Plan (the
“Plan”), effective the 1st day of May 2004. 
  
 The purpose of this Plan is to attract, retain, and reward Employees, by dividing the death proceeds of certain life
insurance policies which are owned by the Company on the lives of the participating Employees with the designated beneficiary of each insured participating Employee. The Company will pay the life insurance premiums from its general assets.

  
 ARTICLE 1 
 DEFINITIONS 
  
 Whenever used in this Plan, the following terms shall have the meanings specified: 
  

	1.1	“Beneficiary” means each designated person, or the estate of a deceased Participant, entitled to benefits, if any, upon the death of a Participant.

  

	1.2	“Beneficiary Designation Form” means the form established from time to time by the Plan Administrator that a Participant completes, signs and returns to the Plan
Administrator to designate one or more Beneficiaries. 

  

	1.3	“Board” means the Board of Directors of the Company as from time to time constituted. 

  

	1.4	“Disability” means the Participant’s suffering a sickness, accident or injury which has been determined by the insurance carrier of any individual or group
disability insurance policy covering the Participant, or by the Social Security Administration, to be a disability rendering the Participant totally and permanently disabled. Upon the request of the Plan Administrator, the Participant must submit
proof to the Plan Administrator of the insurance carrier’s or Social Security Administration’s determination. 

  

	1.5	“Company’s Interest” means the benefit set forth in Section 3.2. 

  

	1.6	“Early Termination” means the Termination of Employment before Normal Retirement Age for reasons other than death, Disability or Termination for Cause.

  

	1.7	“Election to Participate” means the form required by the Plan Administrator of an eligible Employee to indicate acceptance of participation in this Plan.

  

	1.8	“Employee” means an active employee of the Company. 

  

	1.9	“Insured” means the individual Participant whose life is insured. 

  

	1.10	“Insurer” means the insurance company issuing the life insurance policy on the life of the Insured. 

  

	1.11	“Normal Retirement Age” means the Participant attaining age sixty-five (65). 

  

	1.12	“Normal Retirement Date” means the later of the Normal Retirement Age or the date of Termination of Employment for any reason other than Termination for Cause.

	1.13	“Participant” means an Employee (i) who is selected to participate in the Plan, (ii) who elects to participate in the Plan, (iii) who signs an
Election to Participate and a Beneficiary Designation Form, (iv) whose signed Election to Participant and Beneficiary Designation Form are accepted by the Plan Administrator, (v) who commences participation in the Plan, and (vi) whose
Participation has not terminated. 

  

	1.14	“Participant’s Interest” means the benefit set forth in Section 3.1. 

  

	1.15	“Participation Schedule” schedule applies to the pre- Normal Retirement Age benefit only and shall be as follows: 

  

							
	 Directors or
 Senior Vice President and Above

	 	 Vice Presidents and
 First Vice Presidents

	 Years of Plan Service

	 	 Percentage of Participation

	 	 Years of Plan Service

	 	 Percentage of Participation

	 Less than 3
	 	0%	 	Less than 5	 	0%
	 3 but less than 5
	 	50%	 	5 but less than 10	 	50%
	 5 or more
	 	100%	 	10 or more	 	100%

  

	1.16	“Policy” means the individual insurance policy or policies adopted by the Plan Administrator for purposes of insuring a Participant’s life under this Plan.

  

	1.17	“Plan Administrator” means the plan administrator described in Article 10. 

  

	1.18	“Termination of Employment” means that the Participant ceases to be employed by the Company for any reason, voluntary or involuntary, other than by reason of a
leave of absence approved by the Company. 

  

	1.19	“Termination for Cause” means that the Participant’s employment with the Company has been or is terminated by the Board for any of the following reasons:

  

	 	(a)	Gross negligence or gross neglect of duties; or 

  

	 	(b)	Commission of a felony or of a gross misdemeanor involving moral turpitude; or 

  

	 	(c)	Fraud, disloyalty, dishonesty or willful violation of any law or significant Company policy committed in connection with the Participant’s employment and resulting in an
adverse effect on the Company; or 

  

	 	(d)	Issuance by the Company’s banking regulators of an order for removal of the Participant. 

  

	1.20	“Years of Plan Service” The initial Year of Plan Service is the date on which the Participant began active employment in their current position with the Company.
Participant shall be credited with an additional Year of Plan Service on each subsequent anniversary of the initial Year of Plan Service until termination of plan participation. The Plan Administrator, in its sole discretion, may also grant
additional Years of Plan Service in such circumstances where it deems such additional service appropriate. 

  
 ARTICLE 2 
 PARTICIPATION

  

	2.1	Selection by Plan Administrator. Participation in the Plan shall be limited to those Employees of the Company selected by the Plan Administrator, in its sole discretion, to
participate in the Plan. 

  

	2.2	Enrollment Requirements. As a condition to participation, each selected Employee shall complete, execute and return to the Plan Administrator (i) an Election to
Participate, and (ii) a Beneficiary Designation Form. In addition, the Plan Administrator shall establish from time to time such other enrollment requirements as it determines in its sole discretion are necessary. 

	2.3	Eligibility; Commencement of Participation. Provided an Employee selected to participate in the Plan has met all enrollment requirements set forth in this Plan and required
by the Plan Administrator, that Employee will become a Participant, be covered by the Plan and will be eligible to receive benefits at the time and in the manner provided hereunder, subject to the provisions of the Plan. 

  

	2.4	Termination of Participation. A Participant’s rights under this Plan shall automatically cease and his or her participation in this Plan shall automatically terminate if
there is a Termination for Cause. In the event that the Company decides to maintain the Policy after the Participant’s termination of participation in the Plan, the Company shall be the direct beneficiary of the entire death proceeds of the
Policy. 

  

	2.5	Disability. If the Participant’s employment with the Company is terminated because of the Participant’s Disability, the Company shall maintain the Policy in full
force and effect and, in no event, shall the Company amend, terminate or otherwise abrogate the Participant’s Interest in the Policy. However, the Company may replace the Policy with a comparable insurance policy to cover the benefit provided
under this Plan. 

  

	2.6	Retirement. If the Participant remains in the continuous employ of the Company, upon the Participant’s Normal Retirement Date, the Company shall maintain the Policy in
full force and effect and in no event shall the Company amend, terminate or otherwise abrogate the Participant’s Interest in the Policy. However, the Company may replace the Policy with a comparable insurance policy to cover the benefit under
this Plan. 

  
 ARTICLE 3 
 POLICY OWNERSHIP/INTERESTS 
  

	3.1	Participant’s Interest. The Participant, or the Participant’s assignee, shall have the right to designate the Beneficiary of an amount of death proceeds equal to
the amount indicated on the participant’s Election to Participate, subject to: 

  

	 	(a)	Forfeiture of Participant’s rights upon Termination for Cause; 

  

	 	(b)	Reduction based on the Participation Schedule upon Early Termination; 

  

	 	(c)	Termination of the Plan and the corresponding forfeiture of rights for all Participants or any one Participant in accordance with Section 9.1 hereof; and

  

	 	(d)	Forfeiture of the Participant’s rights and interest hereunder that the Company may reasonably consider necessary to conform with applicable law (including the Sarbanes-Oxley
Act of 2002). 

  

	3.2	Company’s Interest. The Company shall own the Policy and shall have the right to exercise all incidents of ownership except that the Company shall not sell, surrender or
transfer ownership of a Policy so long as a Participant has an interest in the Policy as described in Section 3.1. This provision shall not impair the right of the Company, subject to Article 9, to terminate this Plan. With respect to each
Policy, the Company shall be the beneficiary of the remaining death proceeds of the Policy after the Participant’s Interest is determined according to Section 3.1. 

  
 ARTICLE 4 
 PREMIUMS 
  

	4.1	Premium Payment. The Company shall pay all premiums due on all Policies. 

  

	4.2	 Economic Benefit. The Plan Administrator shall determine the economic benefit attributable to any Participant based on the amount of the current term rate
for the Participant’s age multiplied by the 

	 	 
aggregate death benefit payable to the Participant’s Beneficiary. The “current term rate” is the minimum amount required to be imputed under
Internal Revenue Notice 2002-8, or any subsequent applicable authority. 

  

	4.3	Imputed Income. The Company shall impute the economic benefit to the Participant on an annual basis, by adding the economic benefit to the Participant’s W-2, or if
applicable, Form 1099. 

  
 ARTICLE 5

 BENEFICIARIES 
  

	5.1	Beneficiary. Each Participant shall have the right, at any time, to designate a Beneficiary(ies) to receive any benefits payable under the Plan to a beneficiary upon
the death of a Participant. The Beneficiary designated under this Plan may be the same as or different from the Beneficiary designation under any other plan of the Company in which the Participant participates. 

  

	5.2	Beneficiary Designation; Change. A Participant shall designate a Beneficiary by completing and signing the Beneficiary Designation Form, and delivering it to the Plan
Administrator or its designated agent. The Participant’s beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Participant or if the Participant names a spouse as Beneficiary and the marriage is
subsequently dissolved. A Participant shall have the right to change a Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Plan Administrator’s rules and procedures, as in effect
from time to time. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary
Designation Form filed by the Participant and accepted by the Plan Administrator prior to the Participant’s death. 

  

	5.3	Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received, accepted and acknowledged in writing by the Plan Administrator or
its designated agent. 

  

	5.4	No Beneficiary Designation. If the Participant dies without a valid designation of beneficiary, or if all designated Beneficiaries predecease the Participant, then the
Participant’s surviving spouse shall be the designated Beneficiary. If the Participant has no surviving spouse, the benefits shall be made payable to the personal representative of the Participant’s estate. 

  

	5.5	Facility of Payment. If the Plan Administrator determines in its discretion that a benefit is to be paid to a minor, to a person declared incompetent, or to a person
incapable of handling the disposition of that person’s property, the Plan Administrator may direct payment of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable
person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of the Participant and the
Participant’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan for such payment amount. 

  
 ARTICLE 6 
 ASSIGNMENT 

 
 Any Participant may irrevocably assign without consideration all or part
of such Participant’s Interest in this Plan to any person, entity or trust. In the event a Participant shall transfer all or part of such Participant’s Interest, then all or part of that Participant’s Interest in this Plan shall be
vested in his or her transferee, who shall be substituted as a party hereunder, and that Participant shall have no further interest in this Plan. 

 ARTICLE 7 
 INSURER 
  
 The Insurer
shall be bound only by the terms of its given Policy. Any payments the Insurer makes or actions it takes in accordance with a Policy shall fully discharge it from all claims, suits and demands of all persons relating to that Policy. The Insurer
shall not be bound by or deemed to have notice of the provisions of this Plan. The Insurer shall have the right to rely on the Plan Administrator’s representations with regard to any definitions, interpretations or Policy interests as specified
under this Plan. 
  
 ARTICLE 8 
 CLAIMS AND REVIEW PROCEDURE 
  

	8.1	Claims Procedure. A Participant or Beneficiary (“claimant”) who has not received benefits under the Plan that he or she believes should be paid shall make a claim
for such benefits as follows: 

  

	 	8.1.1	Initiation – Written Claim. The claimant initiates a claim by submitting to the Plan Administrator a written claim for the benefits. 

  

	 	8.1.2	Timing of Plan Administrator Response. The Plan Administrator shall respond to such claimant within 90 days after receiving the claim. If the Plan Administrator determines
that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional 90 days by notifying the claimant in writing, prior to the end of the initial 90-day period, that an
additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision. 

  

	 	8.1.3	Notice of Decision. If the Plan Administrator denies part or all of the claim, the Plan Administrator shall notify the claimant in writing of such denial. The Plan
Administrator shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth: 

  

	 	(a)	The specific reasons for the denial; 

  

	 	(b)	A reference to the specific provisions of the Plan on which the denial is based; 

  

	 	(c)	A description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed; 

  

	 	(d)	An explanation of the Plan’s review procedures and the time limits applicable to such procedures; and 

  

	 	(e)	A statement of the claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on review. 

  

	8.2	Review Procedure. If the Plan Administrator denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the Plan Administrator of
the denial, as follows: 

  

	 	8.2.1	Initiation – Written Request. To initiate the review, the claimant, within 60 days after receiving the Plan Administrator’s notice of denial, must file with the
Plan Administrator a written request for review. 

  

	 	8.2.2	 Additional Submissions – Information Access. The claimant shall then have the opportunity to submit written comments, documents, records and other
information relating to the claim. The Plan Administrator shall also provide the claimant, upon request and free of charge, reasonable access to, 

	 	 
and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits.

  

	 	8.2.3	Considerations on Review. In considering the review, the Plan Administrator shall take into account all materials and information the claimant submits relating to the claim,
without regard to whether such information was submitted or considered in the initial benefit determination. 

  

	 	8.2.4	Timing of Plan Administrator’s Response. The Plan Administrator shall respond in writing to such claimant within 60 days after receiving the request for review. If the
Plan Administrator determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional 60 days by notifying the claimant in writing, prior to the end of the
initial 60-day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision. 

  

	 	8.2.5	Notice of Decision. The Plan Administrator shall notify the claimant in writing of its decision on review. The Plan Administrator shall write the notification in a manner
calculated to be understood by the claimant. The notification shall set forth: 

  

	 	(a)	The specific reasons for the denial; 

  

	 	(b)	A reference to the specific provisions of the Plan on which the denial is based; 

  

	 	(c)	A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as
defined in applicable ERISA regulations) to the claimant’s claim for benefits; and 

  

	 	(d)	A statement of the claimant’s right to bring a civil action under ERISA Section 502(a). 

  
 ARTICLE 9 
 AMENDMENTS AND TERMINATION 
  

	9.1	Amendment or Termination of Plan. Except as otherwise provided in Sections 2.5 and 2.6, or as otherwise agreed to in writing, this Plan may be amended or terminated only by a
written agreement signed by the Company and the Participants. Provided, however, if a Participant waives participation, that Participant’s Interest will terminate upon receipt by the Plan Administrator of such waiver. In the event that the
Company decides to maintain the Policy after the Participant’s termination of participation in the Plan, the Company shall be the direct beneficiary of the entire death proceeds of the Policy. 

  
 Notwithstanding the previous paragraph, the Company may amend or terminate
the plan at any time if, pursuant to legislative, judicial or regulatory action, continuation of the Agreement would (i) cause benefits to be taxable to the Participant prior to actual receipt, or (ii) result in significant financial
penalties or other significantly detrimental ramifications to the Company (other than the financial impact of paying the benefits). 
  

	9.2	Option to Purchase Upon Termination. If the Company exercises the right to terminate the Plan or a Participant’s participation in the Plan, the Company shall not sell,
surrender or transfer ownership of a Policy without first giving a Participant or the Participant’s transferee the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price
shall be an amount equal to the cash surrender value of the Policy. 

	9.3	Waiver of Participation. A Participant may, in the Participant’s sole and absolute discretion, waive his or her rights under the Plan at any time. Any waiver permitted
under this Section 9.3 shall be in writing and delivered to the Plan Administrator. 

  
 ARTICLE 10 
 ADMINISTRATION 
  

	10.1	Plan Administrator Duties. This Plan shall be administered by a Plan Administrator which shall consist of the Board, or such committee or persons as the Board may choose.
Members of the Plan Administrator may be Participants under this Plan. The Plan Administrator shall also have the discretion and authority to (i) make, amend, interpret and enforce all appropriate rules and regulations for the administration of
this Plan and (ii) decide or resolve any and all questions including interpretations of this Plan, as may arise in connection with the Plan. 

  

	10.2	Agents. In the administration of this Plan, the Plan Administrator may employ agents and delegate to them such administrative duties as it sees fit, (including acting through
a duly appointed representative), and may from time to time consult with counsel who may be counsel to the Company. 

  

	10.3	Binding Effect of Decisions. The decision or action of the Plan Administrator with respect to any question arising out of or in connection with the administration,
interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in the Plan. 

  

	10.4	Indemnity of Plan Administrator. The Company shall indemnify and hold harmless the members of the Plan Administrator against any and all claims, losses, damages, expenses or
liabilities arising from any action or failure to act with respect to this Plan, except in the case of willful misconduct by the Plan Administrator or any of its members. 

  

	10.5	Information. To enable the Plan Administrator to perform its functions, the Company shall supply full and timely information to the Plan Administrator on all matters relating
to the Compensation of its Participants, the date and circumstances of the retirement, Disability, death or Termination of Employment of its Participants, and such other pertinent information as the Plan Administrator may reasonably require.

  
 ARTICLE 11 
 MISCELLANEOUS 
  

	11.1	Binding Effect. This Plan shall bind each Participant and the Company, their beneficiaries, survivors, executors, administrators and transferees and any Beneficiary.

  

	11.2	No Guarantee of Employment. This Plan is not an employment policy or contract. It does not give a Participant the right to remain an Employee of the Company, nor does it
interfere with the Company’s right to discharge a Participant. It also does not require a Participant to remain an Employee nor interfere with a Participant’s right to terminate employment at any time. 

  

	11.3	Applicable Law. The Plan and all rights hereunder shall be governed by and construed according to the laws of the State of California, except to the extent preempted by the
laws of the United States of America. 

  

	11.4	Reorganization. The Company shall not merge or consolidate into or with another company, or reorganize, or sell substantially all of its assets to another company, firm or
person unless such succeeding or continuing company, firm or person agrees to assume and discharge the obligations of the Company under this Plan. Upon the occurrence of such event, the term “Company” as used in this Plan shall be deemed
to refer to the successor or survivor company. 

	11.5	Notice. Any notice or filing required or permitted to be given to the Plan Administrator under this Plan shall be sufficient if in writing and hand-delivered, or sent by
registered or certified mail, to the address below: 

  

					
	 	 	Center Bank	 	 
	 	 	3435 Wilshire Boulevard #700	 	 
	 	 	Los Angeles, CA 90010	 	 

  
 Such notice shall be
deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark or the receipt for registration or certification. 
  

Any notice or filing required or permitted to be given to a Participant under this Plan shall be sufficient if in writing and hand-delivered, or sent
by mail, to the last known address of the Participant. 
  

	11.6	Entire Agreement. This Plan, along with a Participant’s Election to Participate, Beneficiary Designation Form and any agreement in writing between the Company and any
Participant, constitute the entire agreement between the Company and the Participant as to the subject matter hereof. No rights are granted to the Participant under this Plan other than those specifically set forth herein. 

 
 IN WITNESS WHEREOF, the Company executes this Plan as of the date indicated above.

  

			
	CENTER BANK
		
	By	 	/S/    YONG HWA
KIM        
	 	 	First Vice President & Controller

  
 Participants—Board of
Directors and Named Executives 
  
 Sean Hong
Kim—CEO and PresidentSurvivor income plan

 EXHIBIT 10.9 
  
 CENTER BANK 
 SURVIVOR INCOME PLAN 
  
 Pursuant to due
authorization by its Board of Directors, the undersigned, CENTER BANK, a state-chartered commercial bank located in Los Angeles, California (“the Company”), did constitute, establish and adopt the following Survivor Income Plan (the
“Plan”), effective the 1st day of May 2004. 
  
 The purpose of this Plan is to attract, retain, and reward highly qualified Employees, by providing death benefits to the
designated beneficiary of each participating Employee. The Company will pay the death benefits from its general assets. 
  
 ARTICLE 1 
 DEFINITIONS

  
 Whenever used in this Plan, the following terms shall have
the meanings specified: 
  

	1.1	“Beneficiary” means each designated person, or the estate of a deceased Participant, entitled to benefits, if any, upon the death of a Participant.

  

	1.2	“Beneficiary Designation Form” means the form established from time to time by the Plan Administrator that a Participant completes, signs and returns to the Plan
Administrator to designate one or more Beneficiaries. 

  

	1.3	“Board” means the Board of Directors of the Company as from time to time constituted. 

  

	1.4	“Disability” means the Participant’s suffering a sickness, accident or injury which has been determined by the insurance carrier of any individual or group
disability insurance policy covering the Participant, or by the Social Security Administration, to be a disability rendering the Participant totally and permanently disabled. Upon the request of the Plan Administrator, the Participant must submit
proof to the Plan Administrator of the insurance carrier’s or Social Security Administration’s determination. 

  

	1.5	“Election to Participate” means the form required by the Plan Administrator of an eligible Employee to indicate acceptance of participation in this Plan.

  

	1.6	“Employee” means an active employee of the Company. 

  

	1.7	“Normal Retirement Age” means the Participant attaining age sixty-five (65). 

  

	1.8	“Participant” means an Employee (i) who is selected to participate in the Plan, (ii) who elects to participate in the Plan, (iii) who signs an
Election to Participate and a Beneficiary Designation Form, (iv) whose signed Election to Participant and Beneficiary Designation Form are accepted by the Plan Administrator, (v) who commences participation in the Plan, and (vi) whose
Participation has not terminated. 

  

	1.9	“Plan Administrator” means the plan administrator described in Article 6. 

  

	1.10	“Termination of Employment” means that the Participant ceases to be employed by the Company for any reason, voluntary or involuntary, other than by reason of a
leave of absence approved by the Company. 

	1.11	“Termination for Cause” means that the Participant’s employment with the Company has been or is terminated by the Board for any of the following reasons:

  

	 	(a)	Gross negligence or gross neglect of duties; or 

  

	 	(b)	Commission of a felony or of a gross misdemeanor involving moral turpitude; or 

  

	 	(c)	Fraud, disloyalty, dishonesty or willful violation of any law or significant Company policy committed in connection with the Participant’s employment and resulting in an
adverse effect on the Company; or 

  

	 	(d)	Issuance by the Company’s banking regulators of an order for removal of the Participant. 

  

	1.12	“Years of Plan Service” The initial Year of Plan Service is the date on which the Participant began active employment in their current position with the Company.
Participant shall be credited with an additional Year of Plan Service on each subsequent anniversary of the initial Year of Plan Service until termination of plan participation. The Plan Administrator, in its sole discretion, may also grant
additional Years of Plan Service in such circumstances where it deems such additional service appropriate. 

  
 ARTICLE 2 
 PARTICIPATION AND BENEFITS

  

	2.1	Selection by Plan Administrator. Participation in the Plan shall be limited to those Employees of the Company selected by the Plan Administrator, in its sole discretion, to
participate in the Plan. 

  

	2.2	Enrollment Requirements. As a condition to participation, each selected Employee shall complete, execute and return to the Plan Administrator (i) an Election to
Participate, and (ii) a Beneficiary Designation Form. In addition, the Plan Administrator shall establish from time to time such other enrollment requirements as it determines in its sole discretion are necessary. 

  

	2.3	Eligibility; Commencement of Participation. Provided an Employee selected to participate in the Plan has met all enrollment requirements set forth in this Plan and required
by the Plan Administrator, that Employee will be covered by the Plan and will be eligible to receive benefits at the time and in the manner provided hereunder, subject to the provisions of the Plan. 

  

	2.4	Participant’s Benefit. Upon the Participant’s death while employed by the Company, the Participant’s designated Beneficiary shall be entitled to the amount
indicated on the participant’s Election to Participate. The benefit shall be paid to the Beneficiary in a lump sum within sixty (60) days following the Participant’s death. 

  

	2.5	Termination of Participation. A Participant’s rights under this Plan shall cease and his or her participation in this Plan shall terminate upon Termination of
Employment. 

  

	2.6	Option to Convert to Split Dollar Arrangement. Upon the Participant’s Termination of Employment for any reason except Termination for Cause, this Agreement shall convert
to an Endorsement Split Dollar arrangement that conforms to all applicable laws and regulations governing split dollar life insurance, unless the Participant elects otherwise by written notice to the Company, or Participant has not met the following
Participation requirements at the time the agreement was signed: 

  

							
	 Directors or
 Senior Vice President and Above

	 	 Vice Presidents and
 First Vice Presidents

	 Years of Plan Service

	 	 Percentage of Participation

	 	 Years of Plan Service

	 	 Percentage of Participation

	 Less than 3
	 	0%	 	Less than 5	 	0%
	 3 but less than 5
	 	50%	 	5 but less than 10	 	50%
	 5 or more
	 	100%	 	10 or more	 	100%

 ARTICLE 3 
 BENEFICIARIES 
  

	3.1	Beneficiary Designation. The Participant shall have the right, at any time, to designate a Beneficiary(ies) to receive any benefits payable under this Plan to a Beneficiary
upon the death of the Participant. The Beneficiary designated under this Plan may be the same as or different from the Beneficiary designation under any other plan of the Company in which the Participant participates. 

  

	3.2	Beneficiary Designation: Change. The Participant shall designate a Beneficiary by completing and signing the Beneficiary Designation Form, and delivering it to the Plan
Administrator or its designated agent. The Participant’s Beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Participant or if the Participant names a spouse as Beneficiary and the marriage is
subsequently dissolved. The Participant shall have the right to change a Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Plan Administrator’s rules and procedures, as in
effect from time to time. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary
Designation Form filed by the Participant and accepted by the Plan Administrator prior to the Participant’s death. 

  

	3.3	Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received, accepted and acknowledged in writing by the Plan Administrator or
its designated agent. 

  

	3.4	No Beneficiary Designation. If the Participant dies without a valid beneficiary designation, or if all designated Beneficiaries predecease the Participant, then the
Participant’s spouse shall be the designated Beneficiary. If the Participant has no surviving spouse, the benefits shall be made to the personal representative of the Participant’s estate. 

  

	3.5	Facility of Payment. If the Plan Administrator determines in its discretion that a benefit is to be paid to a minor, to a person declared incompetent, or to a person
incapable of handling the disposition of that person’s property, the Plan Administrator may direct payment of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable
person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of the Participant and the
Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan for such payment amount. 

  
 ARTICLE 4 
 CLAIMS AND REVIEW
PROCEDURE 
  

	4.1	Claims Procedure. A Participant or Beneficiary (“claimant”) who has not received benefits under the Plan that he or she believes should be paid shall make a claim
for such benefits as follows: 

  

	 	4.1.1	Initiation—Written Claim. The claimant initiates a claim by submitting to the Plan Administrator a written claim for the benefits. 

  

	 	4.1.2	Timing of Plan Administrator Response. The Plan Administrator shall respond to such claimant within ninety (90) days after receiving the claim. If the Plan Administrator
determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional ninety (90) days by notifying the claimant in writing, prior to the end of the
initial 90-day period that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision. 

  
  

	 	4.1.3	Notice of Decision. If the Plan Administrator denies part or the entire claim, the Plan Administrator shall notify the claimant in writing of such denial. The Plan
Administrator shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth: 

  

	 	(a)	The specific reasons for the denial; 

  

	 	(b)	A reference to the specific provisions of the Plan on which the denial is based; 

  

	 	(c)	A description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed; 

  

	 	(d)	An explanation of the Plan’s review procedures and the time limits applicable to such procedures; and 

  

	 	(e)	A statement of the claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on review. 

  

	4.2	Review Procedure. If the Plan Administrator denies part or the entire claim, the claimant shall have the opportunity for a full and fair review by the Plan Administrator of
the denial, as follows: 

  

	 	4.2.1	Initiation – Written Request. To initiate the review, the claimant, within 60 days after receiving the Plan Administrator’s notice of denial, must file with the
Plan Administrator a written request for review. 

  

	 	4.2.2	Additional Submissions – Information Access. The claimant shall then have the opportunity to submit written comments, documents, records and other information relating
to the claim. The Plan Administrator shall also provide the claimant, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the
claimant’s claim for benefits. 

  

	 	4.2.3	Considerations on Review. In considering the review, the Plan Administrator shall take into account all materials and information the claimant submits relating to the claim,
without regard to whether such information was submitted or considered in the initial benefit determination. 

  

	 	4.2.4	Timing of Plan Administrator’s Response. The Plan Administrator shall respond in writing to such claimant within sixty (60) days after receiving the request for
review. If the Plan Administrator determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional sixty (60) days by notifying the claimant in
writing, prior to the end of the initial 60-day period that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision.

  

	 	4.2.5	Notice of Decision. The Plan Administrator shall notify the claimant in writing of its decision on review. The Plan Administrator shall write the notification in a manner
calculated to be understood by the claimant. The notification shall set forth: 

  

	 	(a)	The specific reasons for the denial; 

  

	 	(b)	A reference to the specific provisions of the Plan on which the denial is based; 

  

	 	(c)	A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as
defined in applicable ERISA regulations) to the claimant’s claim for benefits; and 

  

	 	(d)	A statement of the claimant’s right to bring a civil action under ERISA Section 502(a). 

 ARTICLE 5 
 AMENDMENTS AND TERMINATION 
  

	5.1	Amendment or Termination of Plan. This Plan may be amended or terminated only by a written agreement signed by the Company and the Participants. Provided, however, if
a Participant waives participation, that Participant’s Interest will terminate upon receipt by the Plan Administrator of such waiver. In the event that the Company decides to maintain any insurance policy after the Participant’s
termination of participation in the Plan, the Company shall be the direct beneficiary of the entire death proceeds of such policy. 

  
 Notwithstanding the previous paragraph, the Company may amend or terminate the Plan at any time if, pursuant to legislative, judicial or regulatory
action, continuation of the Plan would (i) cause benefits to be taxable to the Participants prior to actual receipt, or (ii) result in significant financial penalties or other significantly detrimental ramifications to the Company (other
than the financial impact of paying the benefits). 
  

	5.2	Waiver of Participation. A Participant may, in the Participant’s sole and absolute discretion, waive his or her rights under the Plan at any time. Any waiver
permitted under this Section 5.2 shall be in writing and delivered to the Plan Administrator. In the event that the Company decides to maintain the Policy after the Participant’s termination of participation in the Plan, the Company shall
be the direct beneficiary of the entire death proceeds of the Policy. 

  
 ARTICLE 6 
 ADMINISTRATION 
  

	6.1	Plan Administrator Duties. This Plan shall be administered by a Plan Administrator which shall consist of the Board, or such committee as the Board shall appoint. Members of
the Plan Administrator may be Participants under this Plan. The Plan Administrator shall also have the discretion and authority to (i) make, amend, interpret and enforce all appropriate rules and regulations for the administration of this Plan
and (ii) decide or resolve any and all questions including interpretations of this Plan, as may arise in connection with the Plan. 

  

	6.2	Agents. In the administration of this Plan, the Plan Administrator may employ agents and delegate to them such administrative duties as it sees fit, (including acting through
a duly appointed representative), and may from time to time consult with counsel who may be counsel to the Company. 

  

	6.3	Binding Effect of Decisions. The decision or action of the Plan Administrator with respect to any question arising out of or in connection with the administration,
interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in the Plan. 

  

	6.4	Indemnity of Plan Administrator. The Company shall indemnify and hold harmless the members of the Plan Administrator against any and all claims, losses, damages, expenses or
liabilities arising from any action or failure to act with respect to this Plan, except in the case of willful misconduct by the Plan Administrator or any of its members. 

  

	6.5	Information. To enable the Plan Administrator to perform its functions, the Company shall supply full and timely information to the Plan Administrator on all matters relating
to the Compensation of its Participants, the date and circumstances of the Termination of Employment of its Participants, and such other pertinent information as the Plan Administrator may reasonably require. 

 ARTICLE 7 
 MISCELLANEOUS 
  

	7.1	Unsecured General Creditor. Participants and their Beneficiaries successors and assigns shall have no legal or equitable rights, interests or claims in any property or assets
of the Company. Any and all of the Company’s assets shall be, and remain, the general, unpledged unrestricted assets of the Company. The Company’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay
money in the future. 

  

	7.2	Not a Contract of Employment. The terms and conditions of this Plan shall not be deemed to constitute a contract of employment between the Company and the Participant.
Nothing in this Plan shall be deemed to give a Participant the right to be retained in the service of the Company or to interfere with the right of the Company to discipline or discharge the Participant at any time. 

  

	7.3	Participation in Other Plans. Nothing herein contained shall be construed to alter, abridge, or in any manner affect the rights and privileges of the Participant to
participate in and be covered by any pension, profit sharing, group insurance, bonus or similar employee plans which the Company may now or hereafter maintain. 

  

	7.4	Alienability. Neither the Participant nor any Beneficiary under this Plan shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute,
modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony, or separate maintenance owed by the Participant or the Beneficiary
or any of them, to be transferable by operation of law in the event of bankruptcy, insolvency, or otherwise. In the event the Participant or any Beneficiary attempts assignment, commutation, hypothecation, transfer, or disposal of the benefit
hereunder, the Company’s liabilities shall forthwith cease and terminate. 

  

	7.5	Successors. The provisions of this Plan shall bind and inure to the benefit of the Company and its successors and assigns and the Participant and the Beneficiary.

  

	7.6	Reorganization. The Company shall not merge or consolidate into or with another corporation, or reorganize, or sell substantially all of its assets to another corporation,
firm, or person unless and until such succeeding or continuing corporation, firm, or person agrees to assume and discharge the obligations of the Company under this Plan. Upon the occurrence of such event, the term “Company” as used in
this Plan shall be deemed to refer to such succeeding or continuing company, firm, or person. 

  

	7.7	Interpretation. Wherever the fulfillment of the intent and purpose of this Plan requires, and the context will permit, the use of the masculine gender includes the feminine
and use of the singular includes the plural. 

  

	7.8	Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this Plan, the Company or Plan
Administrator may in its discretion perform such alternative act as most nearly carries out the intent and purpose of this Plan and is in the best interests of the Company. 

  

	7.9	Applicable Law. Subject to ERISA, the provisions of this Plan shall be construed and interpreted in accordance with the laws of the State of California without regard to its
conflict of law principles. 

  

	7.10	Headings. Article and section headings are for convenient reference only and shall not control or affect the meaning or construction of any of its provisions.

  

	7.11	 Furnishing Information. A Participant or his or her Beneficiary will cooperate with the Plan Administrator by furnishing any and all information requested by
the Plan Administrator and take such other actions as 

	 	 
may be requested in order to facilitate the administration of the Plan and the payments of benefits hereunder, including but not limited to taking such
physical examinations as the Plan Administrator may deem necessary. 

  

	7.12	Validity. In case any provision of this Plan shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this
Plan shall be construed and enforced as if such illegal and invalid provision has never been inserted herein. 

  

	7.13	Notice. Any notice or filing required or permitted to be given to the Plan Administrator under this Plan shall be sufficient if in writing and hand-delivered, or sent by
registered or certified mail, to the address below: 

  

					
	 	 	Center Bank	 	 
	 	 	3435 Wilshire Boulevard # 700	 	 
	 	 	Los Angeles, CA 90010	 	 

  
 Such notice shall be
deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark or the receipt for registration or certification. 
  

Any notice or filing required or permitted to be given to a Participant under this Plan shall be sufficient if in writing and hand-delivered, or sent
by mail, to the last known address of the Participant. 
  

	7.14	Signed Copies. This Plan may be executed in any number of counterparts, each of which shall be deemed to be an original, and such counterparts taken together shall constitute
one (1) and the same instrument. 

  
 IN WITNESS WHEREOF, the
Company has caused this Plan to be duly executed by its President and its corporate seal affixed at Los Angeles, California, on the 1st day of May 2004. 
  

			
	CENTER BANK
		
	By	 	/S/    YONG HWA
KIM        
	 	 	Senior Vice President & Controller

  
 Participants—Board of
Directors and Named Executives 
  
 Chung
Hyun Lee—Director 
  
 Sang Hoon
Kim—Director 
  
 Peter Y. S.
Kim—Director 
  
 James Z.
Hong—Director 
  
 James Hong—Executive
Vice President and Chief Credit Officer

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