Document:

Employee Stock Purchase Plan.

 EXHIBIT 10.10 
  
 JACKSON HEWITT TAX SERVICE INC. 
 EMPLOYEE STOCK PURCHASE
PLAN 
  
 1. Purpose. The purpose of the Plan is to provide
employees of the Company and its Designated Subsidiaries with an opportunity to purchase common stock of Jackson Hewitt Tax Service Inc. 
  
 2. Definitions. 
  
 a. “Board” shall mean the Board of Directors of the Company. 
  
 b. “Change in Capitalization” shall mean any increase, reduction, or change or exchange of shares of Common Stock for a different number or kind of
shares or other securities of the Company by reason of a reclassification, recapitalization, merger, consolidation, reorganization, stock dividend, stock split or reverse stock split, combination or exchange of shares, repurchase of shares, change
in corporate structure or otherwise. 
  
 c. “Code” shall mean the
Internal Revenue Code of 1986, as amended. 
  
 d. “Committee”
shall mean the Board, the Compensation Committee of the Board, or such other Committee appointed by the Board to administer the Plan and to perform the functions set forth herein. 
  
 e. “Common Stock” shall mean shares of common stock, par value $.01 per share, of the Company. 
  
 f. “Company” shall mean Jackson Hewitt Tax Service Inc., a Delaware
corporation. 
  
 g. “Compensation” shall mean the fixed salary or
base wage paid by the Company to an Employee as reported by the Company to the United States government (or other applicable government) for income tax purposes, including an Employee’s portion of salary deferral contributions pursuant to
Section 401(k) of the Code and any amount excludable pursuant to Section 125 of the Code, but excluding any bonus, fee, overtime pay, severance pay, expenses, stock option or other equity incentive income, or other special emolument or any credit or
benefit under any employee plan maintained by the Company. 
  

 h. “Continuous Status as an Employee” shall mean the absence of any interruption or termination of
service as an Employee. Continuous Status as an Employee shall not be considered interrupted in the case of a leave of absence agreed to in writing by the Company (including, but not limited to, military or sick leave), provided that such
leave is for a period of not more than 90 days or reemployment upon the expiration of such leave is guaranteed by contract or statute. 
  
 i. “Designated Subsidiaries” shall mean the subsidiaries of the Company which have been designated by the Company from time to time in its sole
discretion as eligible to participate in the Plan. 
  
 j.
“Employee” shall mean any person, including an officer, who is regularly employed by the Company or one of its Designated Subsidiaries. 
  
 k. “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
  
 l. “Exercise Date” shall mean the last business day of each Offering Period. 
  
 m. “Fair Market Value” per share as of a particular date shall mean (i) the
closing sales price per share of Common Stock on the national securities exchange on which the Common Stock is principally traded, on such date or on the last preceding date on which there was a sale of such Common Stock on such exchange, or (ii) if
the shares of Common Stock are not then listed on a national securities exchange or traded in an over-the-counter market, such value as the Committee, in its sole discretion, shall determine. 
  
 n. “Offering Date” shall mean the first business day of each calendar month
of each Plan Year during the effectiveness of the Plan, or such other date or dates determined by the Committee. 
  
 o. “Offering Period” shall mean each calendar month of each Plan Year during the effectiveness of the Plan, commencing on each Offering Date, or such
other period or periods determined by the Committee. 
  
 p.
“Participant” shall mean an Employee who participates in the Plan. 
  

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 q. “Plan” shall mean this Jackson Hewitt Tax Service Inc. Employee Stock Purchase Plan, as amended from
time to time. 
  
 r. “Plan Year” shall mean the calendar year,
and/or such other period or periods determined by the Committee. 
  
 3.
Eligibility. 
  
 Subject to the requirements of Section 4.b. hereof,
any person who is (i) an Employee as of an Offering Date and (ii) who is regularly scheduled to work at least 20 hours per week and at least 5 months per year shall be eligible to participate in the Plan and be granted an option for the Offering
Period commencing on such Offering Date if (iii) at the commencement of such Offering Period such person has maintained Continuous Status as an Employee for at least three months; provided, however, that the Company shall have the
right to exclude from eligibility and participation any officer of the Company or any subsidiary. 
  
 4. Grant of Option; Participation. 
  
 a. On each Offering Date, the Company shall commence an offer by granting each eligible Employee an option to purchase shares of Common Stock, subject to the
limitations set forth in Sections 3 and 10 hereof. 
  
 b. Each eligible
Employee may elect to become a Participant in the Plan with respect to an Offering Period, only by filing an agreement with the Company authorizing contributions (as set forth in Section 5 hereof). Such authorization will remain in effect for
subsequent Offering Periods, until modified or terminated by the Participant. 
  
 c. The option price per share of the Common Stock subject to an offering shall be 95% (or such other percentage determined by the Committee) of the Fair Market Value of a share of Common Stock as of the Exercise Date (or as of such other
time or times determined by the Committee). 
  

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 5. Payroll Deductions. 
  
 a. A Participant may, in accordance with rules adopted by the Committee, authorize a payroll deduction (or such other method of
payment determined by the Committee) of any whole percentage from 2 percent to 10 percent of such Participant’s Compensation for each pay period. A Participant may increase or decrease such payroll deduction (including a cessation of payroll
deductions) at any time but not more frequently than once per calendar month, by filing a new authorization form with the Committee. For purposes of this Plan, any reference to contributions by payroll deduction is deemed to also include any other
method of contribution determined by the Committee from time to time. 
  
 b. All payroll deductions made by a Participant shall be credited to such Participant’s account under the Plan. A Participant may not make any additional payments into such account. 
  
 6. Exercise of Option. 
  
 a. Unless a Participant withdraws from the Plan as provided in Section 8 hereof, such
Participant’s option to purchase shares will be exercised automatically on the Exercise Date, and the maximum number of shares subject to such option will be purchased for such Participant at the applicable option price with the accumulated
payroll deductions and cash dividends (credited pursuant to Section 9 hereof) in such Participant’s account. During a Participant’s lifetime, a Participant’s option to purchase shares hereunder is exercisable only by such Participant.

  
 b. If applicable, any cash balance remaining in a Participant’s
account after the termination of an Offering Period will be carried forward to the Participant’s account for the purchase of Common Stock during the next Offering Period unless the Participant elects to terminate participation in the Plan under
Section 8 hereof, in which case the Participant will receive a cash payment equal to the balance of his or her account. 
  
 c. The shares of Common Stock purchased upon exercise of an option hereunder shall be credited to the Participant’s account under the Plan and shall be deemed
to be transferred to the Participant on the Exercise Date and, except as otherwise provided herein, the Participant shall have all rights of a stockholder with respect to such shares. 
  

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 7. Delivery of Common Stock. 
  
 As promptly as practicable after receipt by the Committee of a written request for withdrawal of Common Stock from any Participant,
the Company shall arrange the delivery to such Participant of a stock certificate representing the shares of Common Stock which the Participant requests to withdraw. Withdrawals may not occur prior to 30 days after the Exercise Date on which such
shares of Common Stock were purchased. Shares of Common Stock received upon stock dividends or stock splits shall be treated as having been purchased on the Exercise Date of the shares to which they relate. 
  
 8. Withdrawal; Termination of Employment. 
  
 a. A Participant may withdraw all, but not less than all, the payroll deductions and
cash dividends credited to such Participant’s account (that have not been used to purchase shares of Common Stock) under the Plan at any time by giving written notice to the Company received prior to the Exercise Date. All such payroll
deductions and cash dividends credited to such Participant’s account will be paid to such Participant promptly after receipt of such Participant’s notice of withdrawal and such Participant’s option for the Offering Period in which the
withdrawal occurs will be automatically terminated. No further payroll deductions for the purchase of shares of Common Stock will be made for such Participant during such Offering Period and for the following Offering Period, and any additional cash
dividends during the Offering Period will be distributed to the Participant. 
  
 b. Upon termination of a Participant’s Continuous Status as an Employee during the Offering Period for any reason, including voluntary termination, retirement or death, the payroll deductions and cash dividends credited to such
Participant’s account (that have not been used to purchase shares of Common Stock) will be returned (and any future cash dividends will be distributed) to such Participant or, in the case of such Participant’s death, to the person or
persons entitled thereto under Section 12 hereof, and such Participant’s option will be automatically terminated. 
  
  

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 9. Dividends and Interest. 
  
 a. Cash dividends paid on Common Stock held in a Participant’s account shall be credited to such Participant’s account and
used in addition to payroll deductions to purchase shares of Common Stock on the Exercise Date distributed to Participants in cash, less the cost of administrative and mailing expenses. Dividends paid in Common Stock or stock splits of the Common
Stock shall be credited to the accounts of Participants. Dividends paid in property other than cash or Common Stock shall be distributed to Participants as soon as practicable. 
  
 b. No interest shall accrue on or be payable with respect to the payroll deductions or credited cash dividends of a Participant in
the Plan. 
  
 10. Stock. 
  
 a. The maximum number of shares of Common Stock which shall be reserved for sale under
the Plan shall be 400,000, subject to adjustment upon Changes in Capitalization of the Company as provided in Section 16 hereof. If the total number of shares which would otherwise be subject to options granted pursuant to Section 4.a. hereof on an
Offering Date exceeds the number of shares then available under the Plan (after deduction of all shares for which options have been exercised or are then outstanding), the Committee shall make a pro rata allocation of the shares remaining available
for option grant in as uniform a manner as shall be practicable and as it shall determine to be equitable. In such event, the Committee shall give written notice to each Participant of such reduction of the number of option shares affected thereby
and shall similarly reduce the rate of payroll deductions, if necessary. 
  
 b. Shares of Common Stock to be delivered to a Participant under the Plan will be registered in the name of the Participant or, at the election of the Participant, in the name of the Participant and another person as joint tenants with
rights of survivorship. 
  
 11. Administration. The Plan shall be
administered by the Committee, and the Committee may select an administrator to whom its duties and responsibilities hereunder may be delegated. The Committee shall have full power and authority, subject to the provisions of the Plan, to promulgate
such rules and regulations as it deems necessary for the proper administration of the Plan, to interpret the provisions and supervise the administration of the Plan, and to take all action in connection therewith or in relation thereto as it deems
necessary or advisable. Any decision reduced to writing and signed by a majority of the members of the Committee 

  

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shall be fully effective as if it had been made at a meeting duly held and shall be binding on all parties. The Company will pay all expenses incurred in the
administration of the Plan. No member of the Committee shall be personally liable for any action, determination, or interpretation made in good faith with respect to the Plan, and all members of the Committee shall be fully indemnified by the
Company with respect to any such action, determination or interpretation. 
  
 12. Designation of Beneficiary. 
  
 a. A Participant may
file, on forms supplied by and delivered to the Company, a written designation of a beneficiary who is to receive any shares and cash remaining in such Participant’s account under the Plan in the event of the Participant’s death.

  
 b. Such designation of beneficiary may be changed by the Participant at
any time by written notice. In the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s death, the Company shall deliver such shares and/or
cash to the executor or administrator of the estate of the Participant or, if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse
or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 
  
 13. Transferability. Neither payroll deductions credited to a Participant’s account nor any rights with regard to the
exercise of an option or to receive shares under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 12 hereof) by the Participant.
Any such attempt at assignment, transfer, pledge or other disposition shall be without effect, except that the Company may treat such act as an election to withdraw funds in accordance with Section 8 hereof. 
  
 14. Use of Funds. All payroll deductions received or held by the Company under
the Plan may be used by the Company for any corporate purpose, and the Company shall not be obligated to segregate such payroll deductions. 
  
 15. Reports. Individual accounts will be maintained for each Participant in the Plan. Statements of account will be given to participating Employees as soon
as practicable following each Offering Period, which statements will set forth the amounts of payroll deductions, the per share purchase price, the number of shares 
  

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 of Common Stock purchased, the aggregate shares in the Participant’s account and the remaining cash balance, if any.

  
 16. Effect of Certain Changes. In the event of a Change in
Capitalization or the distribution of an extraordinary dividend, the Committee shall conclusively determine the appropriate equitable adjustments, if any, to be made under the Plan, including without limitation adjustments to the number of shares of
Common Stock which have been authorized for issuance under the Plan but have not yet been placed under option, as well as the price per share of Common Stock covered by each option under the Plan which has not yet been exercised. 
  
 17. Amendment or Termination. The Board may terminate or amend the Plan at any
time and for any reason or no reason. Except as provided in Section 16 hereof, no such termination can adversely affect options previously granted and no amendment may make any change in any option theretofore granted which adversely affects the
rights of any Participant. No amendment shall be effective unless approved by the stockholders of the Company if stockholder approval of such amendment is required to comply with Rule 16b-3 under the Exchange Act or to comply with any other law,
regulation or stock exchange rule. 
  
 18. Notices. All notices or
other communications by a Participant to the Company under or in connection with the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the
receipt thereof. 
  
 19. Regulations and Other Approvals; Governing Law.
 
  
 a. This Plan and the rights of all persons claiming hereunder
shall be construed and determined in accordance with the laws of the State of Delaware without giving effect to the choice of law principles thereof, except to the extent that such law is preempted by federal law. 
  
 b. The obligation of the Company to sell or deliver shares of Common Stock with
respect to options granted under the Plan shall be subject to all applicable laws, rules and regulations, including all applicable federal and state securities laws, and the obtaining of all such approvals by governmental agencies as may be deemed
necessary or appropriate by the Committee. 
  
 c. The Plan is intended to
comply with Rule 16b-3 under the Exchange Act and the Committee shall interpret and administer the provisions of 
  

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 the Plan in a manner consistent therewith. Any provisions inconsistent with such Rule shall be inoperative and shall not affect the
validity of the Plan. 
  
 20. Withholding of Taxes. If the
Participant makes a disposition, within the meaning of Section 424(c) of the Code and regulations promulgated thereunder, of any share or shares issued to such Participant pursuant to such Participant’s exercise of an option, and such
disposition occurs within the two-year period commencing on the day after the Offering Date or within the one-year period commencing on the day after the Exercise Date, such Participant shall, within ten (10) days of such disposition, notify the
Company thereof and thereafter immediately deliver to the Company any amount of Federal, state or local income taxes and other amounts which the Company informs the Participant the Company is required to withhold. 
  
 21. Effective Date. The Plan shall become effective upon its approval by the
stockholders of the Company, but no Offering Period shall commence until determined by the Board. 
  

 9Employment Agreement dated March 30, 2004: Seon Hong Kim

 Exhibit 10.1 
  
 EMPLOYMENT AGREEMENT 
  
 THIS AGREEMENT is made this 30th day of March, 2004 between CENTER FINANCIAL CORPORATION (the COMPANY”), a California corporation, CENTER BANK (the “BANK”), a California banking corporation (collectively referred to as “Employer”), both
having their -a principal place of business at 3435 Wilshire Boulevard, Los Angeles, California 90010, and Seon Hong Kim (“Executive”) whose residence address is 6513 Sheltondale Avenue, West Hills, California 91367. 
  
 W I T N E S S E T H 
  
 WHEREAS, the Company is a California corporation and the Bank is California
banking corporation both duly organized, validly existing, and in good standing under the laws of the State of California, with power to own property and carry on its business as it is now being conducted; 
  
 WHEREAS, the Employer desires to avail itself of the skill, knowledge and
experience of Executive in order to insure the successful management of its business; and 
  
 WHEREAS, the parties hereto desire to specify the terms of Executive’s employment with Employer; 
  
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, it is agreed that from and after September 1, 2004 (the “Effective
Date”), the following terms and conditions shall apply to Executive’s said employment: 
  
 A. TERM OF EMPLOYMENT 
  
 1. Term. Employer hereby employs Executive and Executive hereby accepts employment with Employer for the initial period of three (3) years (the
“Term”) commencing with the Effective Date, subject to earlier termination as hereinafter provided. The Term may be extended for an additional term of three (3) years by mutual agreement prior to the end of the initial Term. Where used
herein, “Term” shall refer to the entire period of employment of Executive by Employer hereunder, whether for the period provided above, or whether terminated earlier as hereinafter provided. 
  
 2. Designation. Executive shall serve as the President and Chief
Executive Officer of the Company and the Bank, and as a director of both the Company and the Bank. 
  
 B. DUTIES OF EXECUTIVE 
  
 1. Duties. Executive shall perform the duties of President and Chief Executive Officer of the Company and the Bank, subject to the powers by law
vested in the Boards of Directors of the Company and the Bank and in the Company’s shareholders. During the Term, Executive shall perform exclusively the services herein contemplated to be performed by Executive faithfully, 
  

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 diligently and to the best of Executive’s ability, consistent with the highest and best standards of the banking
industry and in compliance with all applicable laws and the Company and the Bank’s Articles of Incorporation, Bylaws and internal written polices. 
  
 2. Conflicts of Interest. Except as permitted by the prior written consent of the Boards of Directors of Employer, Executive shall devote
Executive’s entire productive time, and Executive shall not directly of indirectly render any services of business, commercial or professional nature, to any other person, firm or corporation, whether for compensation or otherwise, which are in
conflict with Employer’s interests. 
  
 C. COMPENSATION

  
 1. Salary. For Executive’s services hereunder,
the Bank shall pay or cause to be paid an annual base salary to Executive of Two Hundred Seventy Nine Thousand Three Hundred and Thirty Dollars ($279,330) for the first year of the Term, with annual increases based on the Consumer Price Index of the
Bureau of Labor Statistics of the Department of Labor for all urban consumers of the Los Angeles metropolitan area, but in no event to exceed seven percent (7%) per year. Said salary shall be payable in equal installments in conformity with the
Bank’s normal payroll period. 
  
 2. Incentive
Bonuses. Executive shall receive an incentive annual bonus equal to four percent (4%) of the amount of the Bank’s pre-tax earnings for that year which exceed the Bank’s 20% of return on year-beginning capital; provided, however, that
in no event shall such bonus be less that $40,000 nor more than the account of 75% of Executive’s annual base salary. For the remaining eight months of the Term (or for the year 2007, if the Term is Extended), Executive shall receive an
incentive bonus equal to four percent (4%) of the amount of the Bank’s pre-tax earnings for 2007 which exceed the Bank’s 20% of return on year-beginning capital for 2006 (or two thirds of such amount, if the Term ends on August 31, 2007);
provided, however, that in no event shall such amount of 75% of Executive’s annual base salary. For purposes of this section, “pre-tax earnings” shall be defined to mean net earnings of the Bank before taxes (calculated in accordance
with generally accepted accounting principles (“GAAP”), after all expenses and revenues have been paid, including but not limited to provisions or allocations for possible loan losses, and shall exclude gains and losses on the sale of
securities and any other extraordinary income or losses). 
  
 D. EXECUTIVE BENEFITS 
  
 1. Vacation.
Executive shall be entitled to a three (3) week vacation each year during the Term; provided, however, that during each year of the term, Executive is required to and shall take at least two (2) weeks of said vacation, which must be taken
consecutively. 
  
 2. Automobile. During the Term
hereunder, Executive shall be entitled to the unlimited use of a suitable full-size automobile, the make of which shall be determined by mutual agreement. In addition, the Bank shall pay all operating expenses in regard to Executive’s
automobile, provided Executive furnishes to the Bank adequate records and other documentary evidence required by federal and state statutes and regulations of such payments as deductible business expenses of the Bank. The Bank shall also procure and
maintain in force an automobile insurance policy on such automobile, sufficient in amount and in coverage, the coverage shall 
  

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 include, without limitation, $500,000 coverage for bodily injury or death and $100,000 coverage for related property
damage. 
  
 3. Group Medical and Life Insurance Benefits.
The Bank shall provide for Executive and his dependents, at the Bank’s expense, participation in medical, accident and health insurance benefits equivalent to the maximum benefits available from time to time under the California Bankers
Association Group insurance program for an employee of Executive’s salary level. Executive shall be provided with term life insurance benefits equivalent to the maximum amount currently provided by the carrier. 
  
 4. Incentive Stock Option(s). The Board of Directors of Company agrees
to grant to Executive, on or before September 1, 2004, a stock option(s) to purchase up to 150,000 shares of the Company’s authorized but unissued Common Stock, at the fair market value of the stock on the date of grant, on such further terms
and conditions as shall be contained in a Stock Option Agreement(s) to be entered into by and between the Company and Executive pursuant to the terms of the 1996 Stock Option Plan or an amended 1996 Stock Option Plan. The Bank agrees that such
options will be “incentive stock options” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended, to the maximum. 
  
 5. Club Memberships. Executive shall be provided with membership in such clubs as may be approved by the Board of Directors of the Bank. The Bank
agrees to pay Executive’s membership dues, as well as all expenses reasonable and necessary in connection with the maintenance and utilization of said membership for business related purpose by Executive throughout the Term. 
  
 E. REIMBURSEMENT FOR BUSINESS EXPENSES 
  
 Executive shall be entitled to reimbursement by the Bank for any ordinary and
necessary business expenses incurred by Executive in the performance of Executive’s duties and in acting for the Bank during the Term, which types of expenditures shall be determined by the Board of Directors of the Bank, Provided that:

  
 (a) Each such expenditure is of a nature qualifying it as a
proper deduction on the federal and state income tax returns of the Bank as a business expense and not as deductible compensation to Executive; and 
  
 (b) Executive furnishes to the Bank adequate record and other documentary evidence required by federal and state statutes and regulations issued by the
appropriate taxing authorities for the substantiation of such expenditures as deductible business expenses of the Bank and not as deductible compensation to Executive. 
  
 F. TERMINATION 
  
 1. Termination. Employer may terminate this Agreement at any time without further obligation or liability to Executive, by action of the Board of
Directors of the Company or the Bank, if Executive fails to perform or habitually neglects the duties which he is required to perform hereunder and such failure or neglect materially adversely affects Employer’s operations or financial
performance; if Executive engages in illegal activity which materially adversely affects Employer’s 
  

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 reputation in the community or which evidences the lack of Executive’s fitness or ability to perform
Executive’s duties as determined by the Boards of Directors in good faith; if Executive engages in the falsification of reports or material, intentional misrepresentation or omission of information supplied to Employer or to regulatory
agencies; or if Executive commits any act which would cause termination of coverage under the Bank’s Bankers Bond as to Executive (as distinguished from termination of coverage as to the Bank as a whole). Such termination shall not prejudice
any remedy, which the Bank may have at law, in equity, or under this Agreement. 
  
 2. Death or Disability. In the event of Executive’s death or if Executive is found to be physically or mentally disabled (as hereinafter defined) by the Board of Directors in good faith, this Agreement
shall terminate without any further liability or obligation to Executive. For purposes of this Agreement only, physical or mental disability shall be defined as Executive being unable to fully perform under this Agreement for a continuous period of
ninety (90) days. If there should be a dispute between Employer and Executive as to Executive’s physical or mental disability for purposes of this Agreement, the question shall be settled by the opinion of an impartial reputable physician or
psychiatrist agreed upon by the parties or their representative, or if the parties cannot agree within ten (10) days after a request for designation of such party, then by a physician or psychiatrist designated by the Los Angeles County Medical
Association. The certification of such physician or psychiatrist as to the question in dispute shall be final and binding upon the parties hereto. 
  
 3. Action by Supervisory Authority. If the Bank is closed or taken over by the Department of Financial Institutions or other supervisory authority,
including the Federal Deposit Insurance Corporation, such supervisory authority may immediately terminate this Agreement without further liability or obligation to Executive by Employer. 
  
 4. Merger or Corporate Dissolution. In the event of (i) a merger where Employer is not the surviving corporation,
(ii) a consolidation, (iii) a transfer of all or substantially all of the assets of Employer, or (iv) any other corporate reorganization where there is a change in ownership of at least twenty-five percent (25%) except as may result from a transfer
of shares to another corporation in exchange for at least eighty percent (80%) control of that corporation, this Agreement shall be terminated without further liability to Executive by Employer or the surviving entity, in the event of a merger, or
the transferee of assets, in the event of a purchase or sale; provide, however, that in such event Employer shall pay to Executive the amount specified in Paragraph F.5 herein regarding termination without cause. 
  
 5. Termination without Cause. Notwithstanding anything to the contrary
contained herein, it is agreed by the parties hereto that Employer may at any time and for any reason terminate this Agreement and Executive’s employment by Employer by action of the Boards of Directors of the Company and the Bank. Such
termination shall be effective immediately upon the giving of notice to Executive from Employer and all benefits provided by Employer hereunder to Executive shall thereupon cease, except as provided in this Paragraph. Notwithstanding the foregoing,
it is agreed that in the event of such termination, Executive shall continue to be paid Executive’s salary at the rate in effect as of the date of termination for the remainder of the Term but not less than 12 months salary, which payments
shall be paid to Executive in full amount. 
  
 6. Effect of
Termination. In the event of the termination of this Agreement prior to the completion of the Term specified herein, Executive shall be entitled to the salary earned by 
  

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 Executive prior to the date of termination as provided for in this Agreement, computed pro rata up to and
including that date; but Executive shall be entitled to no further compensation, except as provided in Paragraph F.4 above for merger or corporate dissolution and in Paragraph F.5 above for termination without cause. Executive further agrees that in
the event of any such termination, he will resign from the Boards of Directors of the Company and the Bank of the effective date of the termination of this Agreement. 
  
 G. GENERAL PROVISIONS 
  
 1. Trade Secrets. During the term, Executive will have access to and become acquainted with what Executive and Employer acknowledge are trade
secrets, to wit, knowledge or data concerning Employer, including its operations and business, and the identity of customers of Employer, including knowledge of their financial condition, their financial needs, as well as their methods of doing
business. Executive shall not disclose any of the aforesaid trade, secrets, directly or indirectly, or use them for any solicitation purposes, either during the Term or for a period of six (6) months after termination of this Agreement, except as
required in the course of Executive’s employment with Employer. 
  
 2. Indemnification. To the extent permitted by law and applicable statutes, Employer shall indemnify Executive and hold Executive harmless from and against liability or loss arising out of Executive’s actual or asserted
misfeasance or nonfeasance in the performance or Executive’s duties or out of any actual of asserted wrongful act against, or by, Employer including but not limited to judgments, fines, settlements and expenses incurred in the defense of
actions, proceedings and appeals therefrom. However, Employer shall have no duty to indemnify Executive with respect to any claim, issue or matter as to which Executive has been adjudged to be liable to either the Company or the Bank in the
performance of his duties, unless and only to the extent that the court in which such action was brought shall determine upon application that, in view of all of the circumstances such court shall determine. Employer shall provide Executive, at the
Employer’s expense, with Directors’ and Officers’ Liability Insurance to indemnify and insure Employer and Executive form and against the aforesaid liabilities. The provisions of this Paragraph shall apply to the estate, executor,
administrator, heirs, legatees or devisee of Executive. 
  
 3.
Return of Documents. Executive expressly agrees that all manuals, documents, files, reports, studies, instruments or other materials used and/or developed by Executive during the Term are solely the property of Employer, and that Executive
has no right, title or interest therein. Upon termination of this Agreement, Executive or Executive’s representative shall promptly deliver possession of all said property to Employer in good condition. 
  
 4. Notices. All notices, demands or other communications hereunder
shall be in writing and shall be delivered in person (professional courier acceptable); or by United States mail, certified or registered, postage prepaid, with return receipt requested; or by facsimile transmission; or otherwise actually delivered,
to the addresses for the parties appearing at the inception of this Agreement. The persons or addresses to which mailings or deliveries shall be made may change from time to time by notice given pursuant to the provisions of this Paragraph G.4. Any
notice, demand or other communication given pursuant to this Agreement shall be deemed to have been given on the date actually delivered, if delivered in person, three days following the date mailed, if delivered by U.S. mail, or upon written
confirmation of transmission, if delivered by facsimile. 
  

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 5. Governing Law. This Agreement is to be governed by and construed under the laws of the State of
California. 
  
 6. Review by Counsel. Executive represents
and warrants to Employer that he has had this Agreement reviewed by independent legal counsel of this choice, or if he has not, that he has had the opportunity to do so, and hereby waives any claim, objection or defense on the grounds that this
Agreement has not been reviewed by legal counsel of his choice. 
  
 7. Caption and Paragraph Headings. Captions and paragraph headings used herein are for convenience only and are not a part of this Agreement and shall not be used in constructing it. 
  
 8. Invalid Provisions. Should any provision of this Agreement for any
reason be declared invalid, void, or unenforceable by any court of competent jurisdiction, the validity and binding effect of any remaining portions shall not be affected, and the remaining portions of this Agreement shall remain in full force and
effect as if this Agreement had been executed with said provision eliminated. 
  
 9. Entire Agreement. This Agreement contains the entire agreement of the parties, It supersedes any and all other agreements either oral or in wiring, between the parties hereto with respect to the employment
of Executive by Employer. Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements, oral or otherwise, have been made by any party, or anyone acting on behalf of any party, which are not embodied
herein, and that no other agreement, statement, or promise not contained in this Agreement shall be valid or binding. This Agreement may no be modified or amended by oral agreement, but only by an agreement in writing signed by the Company, the Bank
and Executive. 
  
 10. Receipt of Agreement. Each of the
parties hereto acknowledges that he has read this Agreement in its entirety and does hereby acknowledge receipt of a fully executed copy thereof. A fully executed copy shall be an original for all purposes, and is a duplicate original. 

 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the day and the year first above written. 
  

			
	CENTER FINANCIAL CORPORATION
		
	By	 	 
	 	 	

	 	 	 Chung Hyun Lee

	 	 	 Chairman of the Board

	
	 CENTER BANK

		
	 	 	/s/ Chung Hyun Lee
	 	 	

	 	 	 Chung Hyun Lee
 Chairman of the Board

		
	 	 	/s/ Seon Hong Kim
	 	 	

	 	 	 Seon Hong Kim

  

 6

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