<SEC-DOCUMENT>0001144204-14-018786.txt : 20140328
<SEC-HEADER>0001144204-14-018786.hdr.sgml : 20140328
<ACCEPTANCE-DATETIME>20140328163130
ACCESSION NUMBER:		0001144204-14-018786
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140313
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140328
DATE AS OF CHANGE:		20140328

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CATHAY GENERAL BANCORP
		CENTRAL INDEX KEY:			0000861842
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				954274680
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31830
		FILM NUMBER:		14726174

	BUSINESS ADDRESS:	
		STREET 1:		777 N BROADWAY
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90012
		BUSINESS PHONE:		2136254700

	MAIL ADDRESS:	
		STREET 1:		777 NORTH BROADWAY
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90012

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CATHAY BANCORP INC
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>v373044_8ka.htm
<DESCRIPTION>FORM 8-K/A
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No. 1)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
March 13, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>CATHAY
GENERAL BANCORP</B></FONT><BR>
(Exact name of registrant as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; text-align: center">Delaware</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: center">0-18630</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: center">95-4274680</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of incorporation)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; text-align: center">777 North Broadway, Los Angeles, California</TD>
    <TD STYLE="width: 30%; text-align: center">90012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Registrant&rsquo;s telephone number, including area code:</TD>
    <TD STYLE="width: 50%; text-align: justify">(213) 625-4700</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Not Applicable&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXPLANATORY NOTE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Current Report on Form 8-K/A (&ldquo;Form 8-K/A&rdquo;)
amends the Current Report on Form 8-K filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) by Cathay General
Bancorp (the &ldquo;Company&rdquo;) on March 19, 2014 (the &ldquo;Original Form 8-K&rdquo;). The Original Form 8-K is being amended
by this Form 8-K/A to correct an error contained in the Original Form 8-K relating to the deferral of the cash bonus awarded to
Dunson K. Cheng by the Compensation Committee (the &ldquo;Committee&rdquo;) of the Board of Directors of the Company. The Original
Form 8-K incorrectly stated that the deferral of the bonus was as a result of an agreement of Mr. Cheng with the Company and Cathay
Bank, whereas the deferral was actually made part of, and imposed as a condition to, the award of the cash bonus by the Committee.
The terms of the bonus deferral are as set forth in the Original Form 8-K. The Bonus Deferral Agreement, filed as Exhibit 10.2
to the Original Form 8-K, did not become effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No other amendments to the Original Form 8-K are being made
by this Form 8-K/A. Except for the caption &ldquo;Bonus Deferral Agreement,&rdquo; the disclosure thereunder and the removal of
Exhibit 10.2 from Item 9.01(d), the Original Form 8-K remains unchanged. In accordance with Rule 12b-15 of the SEC under the Securities
Exchange Act of 1934, as amended, the complete text of Item 5.02, together Item 9.01(d), of the Original Form 8-K, as amended by
this Form 8-K/A, is set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Executive Officer Annual Cash Bonus Program</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 13, 2014, the Compensation Committee
(the &ldquo;Committee&rdquo;) of the Board of Directors of Cathay General Bancorp (the &ldquo;Company&rdquo;) adopted an Executive
Officer Annual Cash Bonus Program (the &ldquo;Program&rdquo;) pursuant to which executive officers of the Company and its subsidiary,
Cathay Bank, may be entitled to cash bonus awards that constitute cash awards under the Company&rsquo;s 2005 Incentive Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To determine a participant&rsquo;s bonus
award, the Compensation Committee may establish, for a &ldquo;program year,&rdquo; Company-wide financial criteria, including the
achievement of quantifiable financial metrics, and metric and/or non-metric individual or department-wide performance goals. Following
completion of a program year, the Compensation Committee is to determine the extent to which the financial criteria and performance
goals for each participant have been achieved or exceeded and the amount of the bonus award to be paid. The Program sets forth
factors the Compensation Committee should take into account in determining financial criteria and performance goals and the circumstances
in which the results and bonus awards may be adjusted. Any bonus awards are subject to a three-year clawback provision, whereby
under specified circumstances some or all the amounts paid may be recovered or the value recouped. The Program has an effective
date of January 1, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This description of the Program is qualified
in its entirety by reference to the full text of the Program, which is attached hereto as Exhibit 10.1 and incorporated herein
by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Equity Incentive Director Compensation
for Anthony M. Tang</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 13, 2014, the Committee awarded
1,369 shares of common stock of the Company to Anthony M. Tang as part of the equity incentive component of the target annual compensation
for directors. On October 1, 2013, Mr. Tang was appointed Executive Vice Chairman of the Company and Cathay Bank, prior to which
he had served as Executive Vice President of the Company and Senior Executive Vice President and Chief Lending Officer of Cathay
Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Bonus Deferral </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 13, 2014, the Committee awarded
Dunson K. Cheng, Chairman of the Board, President, and Chief Executive Officer, a cash bonus in the amount of $300,000 for the
quarter ended December 31, 2014, and provided as part of the award that payment of the bonus would be deferred until the later
of: (i) January 1 of the first year following Mr. Cheng's separation from service; or (ii) the first day of the seventh month following
Mr. Cheng's separation from service. The Committee&rsquo;s award further provided that the deferred amount accrues interest at
the rate of 5.02% per annum compounded quarterly, will be increased each quarter by the amount of interest computed for that quarter,
and, beginning on the fifth anniversary, the interest rate will equal 350 basis points above the then prevailing interest rate
on a five-year U.S. Treasury note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px">(d)</TD>
    <TD STYLE="text-align: justify"><U>Exhibits</U></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48px">10.1</TD>
    <TD STYLE="text-align: justify">Executive Officer Annual Cash Bonus Program</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: March 28, 2014&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">CATHAY GENERAL BANCORP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%">By:&nbsp;&nbsp;</TD>
    <TD STYLE="width: 49%; border-bottom: black 1pt solid">/s/ Heng W. Chen</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD>Heng W. Chen</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD>Executive Vice President and Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%"><U>Number</U></TD>
    <TD STYLE="width: 90%; text-align: justify"><U>Exhibit</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD STYLE="text-align: justify">Executive Officer Annual Cash Bonus Program</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v373044_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 10.1</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Cathay
General Bancorp</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>2005
Incentive Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Executive Officer Annual Cash Bonus
Program</I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>This Executive Officer
Annual Cash Bonus Program (this &ldquo;Program&rdquo;) is adopted pursuant to Section 12 of the Cathay General Bancorp 2005 Incentive
Plan (the &ldquo;2005 Plan&rdquo;) and the policy of Cathay General Bancorp (the &ldquo;Company&rdquo;) to attract, motivate, and
retain capable executive management and other key personnel by providing incentives that are commensurate with prudent risk taking,
that does not pose a threat to the safety and soundness of the Company, and that seeks to link compensation to the Company&rsquo;s
overall strategic goals.</I></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD>Eligibility</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Eligibility to participate
in this Program shall be limited to executive officers of the Company or of its subsidiary, Cathay Bank, if such an executive officer&rsquo;s
participation for a calendar year (or portion of a calendar year) (a &ldquo;Program Year&rdquo;) is approved by the Compensation
Committee of the Company&rsquo;s Board of Directors (the &ldquo;Committee&rdquo;). Executive officers so approved by the Committee
shall be referred to herein as &ldquo;Participants.&rdquo;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD>Determination of Bonus Award</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For each Program Year,
each Participant may be eligible to receive a payment in cash (a &ldquo;Bonus Award&rdquo;) in accordance with the terms provided
herein and any other terms established by the Committee. Bonus Awards under this Program shall constitute Cash Awards under Section
12 of the 2005 Plan.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To determine a Participant&rsquo;s
potential Bonus Award, the Committee may in its sole discretion establish, for a Program Year, Company-wide financial criteria,
including, without limitation, achievement of quantifiable metrics such as targeted diluted earnings per share, return on average
assets, loan growth, deposit growth, and efficiency ratio (the &ldquo;Financial Criteria&rdquo;), and metric and/or non-metric
individual or department-wide performance goals (the &ldquo;Performance Goals&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In determining the
Financial Criteria and the Performance Goals, the Committee should consider whether the arrangements provided in this Program are
appropriately balanced and consistent with the Company&rsquo;s and Cathay Bank&rsquo;s safety and soundness, and whether they are
compatible with effective controls and risk-management. For example, Bonus Awards to risk-management and control officers should
be based primarily on the achievement of their functions (<I>e.g.,</I> adherence to internal controls) and should not be based
substantially on the financial performance of the business units they review. The weighting between the Financial Criteria and
Performance Goals will be individually set for each Participant from time to time and may relate to the Company and/or its subsidiaries,
one or more of its departments or units, or any combination of the foregoing, on a consolidated or nonconsolidated basis, as the
Committee may determine in its sole discretion. The Financial Criteria and Performance Goals should also, to the extent appropriate,
be linked to the goals and objectives of the Company&rsquo;s strategic plan for the Program Year.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Without limiting the
generality of the foregoing, the Committee may adjust the performance results for the Financial Criteria to the extent the Committee
deems they may have been affected by material events outside the ordinary course of business, such as one-time acquisition charges.<FONT STYLE="font-size: 10pt">
</FONT>In addition, if the Committee deems that the Financial Criteria and/or the Performance Goals may encourage Participants
to expose the Company or Cathay Bank to imprudent risks, the Committee may modify such criteria or goals and the Program as needed
to ensure that they are appropriately sensitive to risk and risk outcomes, balanced in terms of size, type, and time horizon of
the inherent risks of the Participant&rsquo;s activities, and consistent with safety and soundness. Also, the Committee may adjust
the amount of the Bonus Award based on measures that take into account the risk the Participant&rsquo;s activities may pose. Such
measures may be quantitative, or the size of a risk adjustment may be set judgmentally, subject to appropriate oversight.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In determining Financial
Criteria and Performance Goals for a Participant who is a &ldquo;covered employee&rdquo; for purposes of Section 162(m) of the
Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;), the Committee may take into consideration whether such criteria
and compensation thereon qualifies as &ldquo;performance-based compensation&rdquo; under Section 162(m) of the Code and under the
2005 Plan. Any determination of eligibility or the declaration of a Bonus Awards under this Program to a Participant who is a &ldquo;covered
employee&rdquo; under Section 162(m) of the Code shall be administered in accordance with the applicable provisions of Sections
4 and 13 of the 2005 Plan.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD>Timing and Payment of Bonus Awards</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following completion
of a Program Year, the Committee shall determine the extent to which the Financial Criteria and Performance Goals for each Participant
have been achieved or exceeded and the amount of the Bonus Award to be paid. The Committee shall not only determine the amount
of Bonus Awards to be paid, but reserves the right in its discretion to reduce or eliminate any Bonus Awards.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A Participant shall
not have a legally-binding right to a Bonus Award under this Program until the Committee has made the determinations set forth
above and declared that a Bonus Award is payable under the Program. In accordance with Treasury Regulation 1.409A-1(b)(4), all
Bonus Awards shall be distributed as soon as administratively practicable following the Committee&rsquo;s declaration of a Participant&rsquo;s
Bonus Award, but in no event will such a distribution be made later than 2-1/2 months following the end of the year in which such
a declaration is made.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD>Additional Terms and Conditions</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Adoption of this
Plan. </B>This Program has become effective January 1, 2014, and shall continue in effect until amended, modified, suspended, or
terminated. This Program may be amended, modified, suspended, or terminated by the Committee in its sole discretion without prior
notice to the Participants.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>No Right of Employment.
</B>This Program shall not constitute a contract of employment between the Company or its subsidiaries and any person eligible
for participation in this Program or the 2005 Plan. Nothing contained in this Program, the 2005 Plan, or any Bonus Award made pursuant
to this Program shall confer upon any eligible Participant any right to continue in the employment of the Company or any of its
subsidiaries, or any guarantee of the award of future bonuses or other incentives, or shall interfere with, affect, or restrict
in any way the right of the Company and its subsidiaries, which are expressly reserved, to discharge any employee at any time for
any reason whatsoever, with or without cause.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Clawback.</B> By
accepting a Bonus Award made under this Program, each Participant agrees that the Company may recover some or all of the amounts
paid with respect to a Bonus Award, or recoup some or all of the value thereof by offset from other amounts owed to the Participant
by the Company or its subsidiaries, at any time during the three calendar years following payment hereunder, if and to the extent
that the Committee determines that (i) federal or state law or the listing requirements of the exchange on which the Company&rsquo;s
stock is listed for trading so require, (ii) the Financial Criteria and Performance Goals required for the Bonus Award were not
met, or not met to the extent necessary to support the amount of the Bonus Award that was paid, or (iii) the payment of the Bonus
Award was based on the achievement of financial results, as reported in an Annual Report on Form 10-K, a Quarterly Report on Form
10-Q, or other report filed with the Securities and Exchange Commission, that were subsequently the subject of a restatement due
to material noncompliance of the Company with any financial reporting requirement under the federal securities laws (other than
as a result of a change in accounting principles).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The right of recovery
under this paragraph shall be subject to any general clawback policy that is or may be adopted by the Company, the terms of which
shall be incorporated herein to the extent applicable.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Miscellaneous. </B>Subject
to the terms of any such plan, no Bonus Award shall be deemed salary or compensation for the purpose of computing benefits under
any employee benefit plan or other arrangement of the Company, unless the Committee, in its sole discretion, shall determine otherwise.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company shall make
available copies of this Program and all amendments and any administrative rules or procedures to all Participants at reasonable
times upon request.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Program and the
payment of Bonus Awards shall be subject to all applicable federal and state laws, rules, and regulations, including the withholding
of any federal, state, local, or foreign taxes and to such approvals by any government or regulatory agency as may be required.
The terms of this Program shall be binding upon the Company and its successors.</P>

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