<SEC-DOCUMENT>0001144204-16-120277.txt : 20160819
<SEC-HEADER>0001144204-16-120277.hdr.sgml : 20160819
<ACCEPTANCE-DATETIME>20160819090709
ACCESSION NUMBER:		0001144204-16-120277
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20160818
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160819
DATE AS OF CHANGE:		20160819

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
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31830
		FILM NUMBER:		161842145

	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
<SEQUENCE>1
<FILENAME>v447379_8k.htm
<DESCRIPTION>8-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</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: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</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):
August 18, 2016</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="font-size: 10pt; text-transform: uppercase"><B>CATHAY
GENERAL BANCORP</B></FONT><BR>
<FONT STYLE="font-size: 10pt">(Exact name of registrant as specified in its charter)</FONT></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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    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-size: 10pt">001-31830</FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-size: 10pt">95-4274680</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of incorporation)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(IRS Employer Identification No.)</FONT></TD></TR>
</TABLE>
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    <TD STYLE="width: 100%; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">777 North Broadway, Los Angeles, California,
        90012</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)
        (Zip Code)</P></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="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Registrant&rsquo;s telephone number, including area code:</FONT></TD>
    <TD STYLE="width: 50%; text-align: justify"><FONT STYLE="font-size: 10pt">(213) 625-4700</FONT></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: 3%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
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    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.75in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 5.02</B></TD><TD STYLE="text-align: justify"><B>Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></TD>
</TR></TABLE>

<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-indent: 0.5in">On August 19, 2016, Cathay General Bancorp
(the &ldquo;Company&rdquo;) issued a press release announcing that Dunson K. Cheng, its President, Chairman of the Board and Chief
Executive Officer (&ldquo;CEO&rdquo;), had notified the Company of his intention to retire from his position as President and CEO
of the Company and CEO of its subsidiary, Cathay Bank, as of September 30, 2016. Mr. Cheng will continue as an employee and will
serve as Executive Chairman of the Company and of Cathay Bank, for which he will receive an annual salary of $800,000, commencing
October 1, 2016.</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; text-indent: 0.5in">In accordance with the Company&rsquo;s succession
plan, the Boards of Directors appointed Mr. Pin Tai as CEO and President of the Company and as CEO of Cathay Bank, effective October
1, 2016. Mr. Tai, age 62, has been President and a Director of Cathay Bank since April 1, 2015. Mr. Tai joined Cathay Bank in 1999
as General Manager of New York Region. In 2006, he became Executive Vice President and the General Manager of Eastern Region, and
then became the Deputy Chief Lending Officer in 2010 and the Chief Lending Officer of Cathay Bank in 2013. Mr. Tai has over 34
years of banking experience. Prior to joining Cathay Bank, Mr. Tai worked at the Bank of China in its New York office and at Bank
of America in Hong Kong and China.</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; text-indent: 0.5in">A
copy of the press release, dated August 19, 2016, is attached hereto as Exhibit 99.1 and incorporated herein by reference.</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; text-indent: 0.5in">In connection with Mr. Tai&rsquo;s new position
as CEO and President of the Company and as CEO of Cathay Bank, and his continued position as President of Cathay Bank, Mr. Tai
entered into an Employment Agreement dated August 18, 2016, with the Company and Cathay Bank (the &ldquo;Employment Agreement&rdquo;).
The following is only a summary of the significant terms of the Employment Agreement and is qualified in its entirety by reference
to the full text of the Employment Agreement, 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">Pursuant to the Employment Agreement, the
Company or Cathay Bank (as applicable) has agreed to continue the employment of Mr. Tai for a period of three years commencing
October 1, 2016 and continuing until September 30, 2019, unless extended by an additional one-year period or terminated earlier
pursuant to the terms of the Employment Agreement (the &ldquo;Employment Period&rdquo;). In the event of a Change of Control as
defined in the Amended and Restated Change of Control Employment Agreement dated December 18, 2008 with Mr. Tai (the &ldquo;Control
Agreement&rdquo;), the Employment Agreement will terminate and Mr. Tai&rsquo;s employment will be exclusively governed by the Control
Agreement.</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">The Employment Agreement provides that during
the Employment Period, Mr. Tai will be entitled to the following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>An annual base salary of at least $700,000 for the first year, subject to annual review by the Company&rsquo;s Board of Directors
for increases but not decreases; provided, however, that the base salary may be reduced in connection with a broad-based reduction
for senior executives of the Company;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Participation in welfare benefit plans and programs provided by the Company and Cathay Bank to the extent applicable generally
to other executives of the Company and Cathay Bank; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Participation in all bonus, cash incentive, equity incentive, savings and retirement plans and programs applicable generally
to other executives of the Company and Cathay Bank.</TD></TR></TABLE>

<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-indent: 0.5in">If Mr. Tai&rsquo;s employment is terminated
by the Company for other than Cause or Disability (both as defined in the Employment Agreement) or he terminates his employment
for Good Reason (as defined in the Employment Agreement), he will be entitled to (i) his base salary through the date of termination;
(ii) unpaid reimbursable business expenses; (iii) a cash bonus, if any, for the fiscal year in which the date of termination occurs,
if such bonus has been determined, but not yet paid; (iv) any accrued unpaid vacation pay (items (i), (ii), (iii) and (iv) collectively,
the &ldquo;Accrued Obligations&rdquo;); and (v) as severance pay, an amount equal to one and a half year&rsquo;s base salary calculated
on the basis of his then current base salary. If his employment is terminated as a result of death or Disability, Mr. Tai (or his
estate or beneficiaries in the event of death) will be entitled to: (i) the Accrued Obligations, and (ii) an amount equal to one
and a half year&rsquo;s base salary calculated on the basis of his then current base salary. If his employment is terminated by
Company for Cause or if he terminates his employment for other than Good Reason, he will be entitled to an amount equal to his
Accrued Obligations.</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"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 5.03</B></TD><TD STYLE="text-align: justify"><B>Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year.</B></TD>
</TR></TABLE>

<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-indent: 0.5in">On August 18, 2016, the Board of Directors
of the Company (the &ldquo;Board&rdquo;) amended Article IV, Section 5, and Article V, Sections 1 through 7, of the Amended and
Restated Bylaws of the Company, which amendments are to take effect on October 1, 2016. The purpose of the amendments is to reflect
the transition in leadership described in Item 5.02 above.</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; text-indent: 0.5in">These amendments to the Amended and Restated
Bylaws of the Company include the following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The Office of the President/CEO is revised to consist of the Executive Chairman (if there is such an officer) and the President
of the Company, if such officer has also been designated as the CEO. The Office of the President/CEO shall nominate the executive
officers of the Corporation for approval by the Board.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The Board shall designate the Chairman of the Board as either a nonexecutive Chairman, who shall be an independent director,
or an Executive Chairman.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The Board may appoint one or more Vice Chairmen, who shall not be officers, with such powers and duties as may be prescribed
by the Board or the Bylaws. In the absence of the Chairman of the Board, the Vice Chairman shall preside at all meetings of the
Board.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>If the President is designated as the CEO, the President shall preside at all meetings of the stockholders. In the absence
of the President, the Chairman of the Board shall preside at all meetings of the stockholders.</TD></TR></TABLE>

<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-indent: 0.5in">The description of the Amendments to the
Amended and Restated Bylaws is qualified in its entirety by reference to the full text of the amendments to the Amended and Restated
Bylaws, which is attached hereto as Exhibit 3.1 and incorporated herein by reference.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 9.01</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits.</B></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">3.1</TD><TD STYLE="text-align: justify">Amendments to Amended and Restated Bylaws of Cathay General
Bancorp</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">10.1</TD><TD STYLE="text-align: justify">Employment Agreement for Pin Tai dated August 18, 2016</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">99.1</TD><TD STYLE="text-align: justify">Press Release of Cathay General Bancorp dated August
19, 2016</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: August 19, 2016</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="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">CATHAY GENERAL BANCORP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2">
        <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">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: black 1pt solid; padding-right: 0.75in"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Heng W. Chen</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Heng W. Chen</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Executive Vice President and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Financial Officer</P></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"><B>EXHIBIT INDEX</B></P>

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

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><U>Number</U></TD><TD STYLE="text-align: justify"><U>Exhibit</U></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">3.1</TD><TD STYLE="text-align: justify">Amendments to Amended and Restated Bylaws of Cathay General
Bancorp</TD>
</TR></TABLE>

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

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">10.1</TD><TD STYLE="text-align: justify">Employment Agreement for Pin Tai dated August 18, 2016</TD>
</TR></TABLE>

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

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">99.1</TD><TD STYLE="text-align: justify">Press Release of Cathay General Bancorp dated August
19, 2016</TD>
</TR></TABLE>

<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"></P>

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<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>v447379_ex3-1.htm
<DESCRIPTION>EXHIBIT 3.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B>Exhibit 3.1</B></P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Adopted by the Board of Directors on August
18, 2016, to become effective October 1, 2016</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1.&#9;Article IV, Section 5, is hereby amended to read as follows:</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">SECTION 5.&#9; <U>Office of the President/CEO</U>.
The Office of the President/CEO shall consist of two members, the Executive Chairman of the Corporation (if there is such an officer)
and the President of the Corporation, if such officer is the chief executive officer. The Office of the President/CEO shall nominate
the executive officers of the Corporation for approval by the Board of Directors.</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">2.&#9;Article V, Sections 1 through 7, are hereby amended to
read as follows:</P>

<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">ARTICLE V</P>

<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">OFFICERS</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">SECTION 1.&#9;<U>Appointment and Compensation</U>.
The Board of Directors shall appoint and fix the compensation of the officers of the Corporation who shall include a Chairman of
the Board, a President, a Vice President, a Secretary, and a Treasurer. The Chairman of the Board must be appointed from among
the Directors. The Board of Directors shall designate the Chairman of the Board as either a nonexecutive Chairman, who shall be
an independent director, or an Executive Chairman. The Board of Directors may appoint and fix the compensation of all such other
officers (including additional Vice Presidents, Assistant Vice Presidents, Assistant Secretaries and Assistant Treasurers) as the
Board of Directors may deem necessary or desirable. The Board of Directors, or if it fails to do so, the President, may appoint
and fix the compensation of such other agents as either of them deem necessary or desirable, who shall have such powers and duties
as may be assigned from time to time by either of them. Unless prohibited by applicable law or by the Restated Certificate of Incorporation
or by these Bylaws, one person may be elected or appointed to serve in more than one official capacity.</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">SECTION 2.&#9;<U>Removal and Resignation</U>.
The officers shall hold office for such terms as the Board of Directors shall determine until their respective successors are appointed
and qualified, except in the event of earlier removal or resignation. Any officer may be removed, either with or without cause,
by the Board of Directors. Any other agents of the Corporation may be similarly removed by the Board of Directors or by the President.
Any officer may resign at any time by giving notice to the Board of Directors or to the Chairman of the Board or to the Secretary
of the Corporation. Any such resignation shall take effect at the date of receipt of such notice or at any later time specified
therein; and, unless otherwise specified in such notice, the acceptance of the resignation shall not be necessary to make it effective.</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">SECTION 3.&#9;<U>The Chairman of the Board</U>.
The Board of Directors may designate the Chairman of the Board to be the chief executive officer of the Corporation. The Chairman
of the Board shall exercise and perform such other powers and duties as are usually vested in a chairman of the board and (if so
designated) in a chief executive officer or as may be from time to time prescribed or assigned by the Board of Directors or as
may be prescribed by these Bylaws. The Chairman of the Board shall, if present, preside at all meetings of the Board of Directors
and, if such officer is designated as the chief executive officer, at all meetings of the stockholders. In the absence of the President,
if such officer is the chief executive officer, the Chairman of the Board, if present, shall preside at all meetings of the stockholders.</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; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 4.&#9;<U>The Vice Chairman</U>.
The Board of Directors may appoint one or more Vice Chairmen, who shall not be officers of the Corporation. A Vice Chairman (if
there is such a position) shall have such powers and duties as may from time to time be prescribed or assigned by the Board of
Directors or as may be prescribed by these Bylaws. In the absence of the Chairman of the Board, the Vice Chairman (or if there
be more than one Vice Chairman, the Vice Chairmen in the order designated by the Board of Directors or the Chairman of the Board
or, in the absence of any designation, then in the order of their appointment), if present, shall preside at all meetings of the
Board of Directors.</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">SECTION 5.&#9;<U>The President</U>. Subject to the control
of the Board of Directors, the President shall have general supervision, management and control of the business, affairs and officers
of the Corporation. The President shall be the chief executive officer unless the Chairman of the Board has been designated to
be the chief executive officer. The President shall exercise and perform such other powers and duties as are usually vested in
a president and in a chief executive officer (as the case may be) or as may be from time to time prescribed or assigned by the
Board of Directors or as may be prescribed by these Bylaws. If the President is the chief executive officer, he or she shall preside
at all meetings of the stockholders and, in his or her absence, the Chairman of the Board shall preside at all meetings of the
stockholders.</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">SECTION 6.&#9;<U>The Vice President</U>.
In the absence of the President or in the event of his or her inability or refusal to act, the Vice President (or if there be more
than one Vice President, the Vice Presidents in the order of their rank or if of equal rank, then in the order designated by the
Board of Directors or the President, or in the absence of any designation, then in the order of their appointment) shall perform
the duties of the President, and when so acting shall have all the powers of and be subject to all the restrictions upon the President.
The Vice President shall perform such other duties and have such other powers as the Board of Directors or the President may from
time to time prescribe.</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">SECTION 7.&#9;<U>The Secretary</U>. The
Secretary shall attend all meetings of the Board of Directors and all meetings of stockholders and record all the proceedings of
the meetings of the Corporation and of the Board of Directors in a book to be kept for that purpose and shall perform like duties
for the committees when required. The Secretary shall give, or cause to be given, notice of all meetings of stockholders and special
meetings of the Board of Directors, to the extent and in the manner required by applicable law or by these Bylaws. The Secretary
shall have custody of the corporate seal of the Corporation, and the Secretary, or an Assistant Secretary, shall have authority
to affix the same to any instrument requiring it and when so affixed, it may be attested by the signature of the Secretary, or
by the signature of such Assistant Secretary. The Board of Directors may give general authority to any other officer to affix the
seal of the Corporation and to attest the affixing by the signature of such officer. The Secretary shall perform such other duties
and have such other powers as the Board of Directors or the President may from time to time prescribe.</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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<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>v447379_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0"></P>

<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: right"><B>Exhibit 10.1</B></P>

<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-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>EMPLOYMENT AGREEMENT</U></B></P>

<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: justify; text-indent: 0.5in">This Employment Agreement
(this &ldquo;<U>Agreement</U>&rdquo;), dated as of August 18, 2016, is made and entered into by and between CATHAY GENERAL BANCORP,
a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), CATHAY BANK, a California corporation and a wholly-owned subsidiary
of the Company (the &ldquo;<U>Bank</U>&rdquo;), and PIN TAI (the &ldquo;<U>Executive</U>&rdquo;).</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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>W I T N E S S E T H:</B></P>

<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: justify; text-indent: 1in">WHEREAS, the Executive
has been employed by the Company and/or the Bank since 1999, most recently as President of the Bank;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, the Company
and the Bank desire to memorialize the employment relationship with the Executive in his new position as President and Chief Executive
Officer of the Company and as Chief Executive Officer of the Bank, and his continued position as President of the Bank, and the
Executive desires to be employed by the Company and the Bank in such positions, pursuant to the terms and conditions set forth
in this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the mutual covenants and promises contained herein and for good and valuable consideration, the receipt of which is hereby acknowledged,
the parties hereto, each intending to be legally bound hereby, agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Employment and Positions</U>. The Company and the Bank hereby agree to employ the Executive, and the Executive hereby
agrees to be employed by the Company and the Bank, for the Employment Period (as defined below). During the Employment Period,
the Executive shall serve as President and Chief Executive Officer of the Company and President and Chief Executive Officer of
the Bank, and shall report, respectively, to the Board of Directors of the Company (the &ldquo;<U>Company Board</U>&rdquo;) and
the Board of Directors of the Bank (the &ldquo;<U>Bank Board</U>&rdquo; and, together with the Company Board, the &ldquo;<U>Boards</U>&rdquo;),
performing such duties and responsibilities as are customarily attendant to such positions with respect to the business of the
Company and the Bank and such other duties and responsibilities as may from time to time be assigned to the Executive by the Boards
(as applicable). During the Employment Period, the Executive shall also continue to serve, to the extent requested by the Company
Board, as a member of the Bank Board, without additional compensation. In addition, if and when elected by the Company Board to
fill a vacancy or nominated by the Company Board for election by the Company&rsquo;s stockholders and subject to election by such
stockholders, the Executive shall also serve as a member of the Company Board, without additional compensation.</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">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Performance</U>. During the Employment Period, the Executive agrees to devote his business time, energy, experience and
talents to the business and affairs of the Company and the Bank, to discharge the responsibilities assigned to the Executive hereunder
and by the Boards and to perform faithfully and efficiently such responsibilities. During the Employment Period, it shall not be
a violation of this Agreement for the Executive to (i) serve on corporate, civic or charitable boards or committees, (ii) deliver
lectures, fulfill speaking engagements or teach at educational institutions, or (iii) manage his and his family&rsquo;s personal
investments, so long as such activities do not materially interfere with the performance of the Executive&rsquo;s responsibilities
as an employee of the Company and the Bank in accordance with this Agreement, as determined in the sole judgment of the Boards.
The Executive shall perform all such services in accordance with the policies, procedures and rules established by the Company,
the Bank and the Boards. In addition, the Executive shall comply with all laws, rules and regulations that are generally applicable
to the Company or its subsidiaries or affiliates and their respective employees, directors and officers.</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"></P>

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<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">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Employment Period</U>. Subject to earlier termination pursuant to Section 7, the term of employment of the Executive
hereunder shall begin on October 1, 2016, and shall continue until September 30, 2019 (the &ldquo;<U>Initial Term</U>&rdquo;);
<U>provided</U>, <U>however</U>, that beginning on the first day immediately following the expiration of the Initial Term (<I>e.g.,</I>
October 1, 2019), and on each subsequent anniversary of such day, the term of this Agreement shall be extended by an additional
one (1) year period (each such period, an &ldquo;<U>Additional Term</U>&rdquo;), unless at least ninety (90) days before the end
of the Initial Term or the applicable Additional Term, the Company and the Bank notify the Executive that the term of this Agreement
will not be extended. If the term of this Agreement is not extended, the term of employment hereunder shall terminate as of the
end of the Initial Term or the end of any Additional Term, as applicable (collectively, the &ldquo;<U>Employment Period</U>&rdquo;).
Notwithstanding the foregoing, the employment of the Executive hereunder shall cease and this Agreement shall terminate, subject
to Section 11(i), if and when during the Employment Period a Change of Control shall occur and the Effective Date shall have commenced
(as such terms are defined in the Amended and Restated Change of Control Employment Agreement dated December 18, 2008, among the
parties hereto, hereinafter the &ldquo;<U>Change of Control Agreement</U>&rdquo;), following which the terms of the Executive&rsquo;s
employment shall be governed exclusively by the Change of Control Agreement.</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">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Principal Location</U>. The Executive&rsquo;s principal place of employment shall be the Company&rsquo;s administrative
offices in El Monte, California, or such other location or locations as the Company Board may from time to time designate.</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">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compensation and Benefits</U>.</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: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Base Salary</U>. As compensation for his services hereunder and in consideration of the Executive&rsquo;s other agreements
hereunder, during the Employment Period, the Company shall pay the Executive an annual base salary (the &ldquo;Base Salary&rdquo;),
payable in equal installments in accordance with the applicable payroll practices, at an initial rate of $700,000 for the first
year of this Agreement, subject to annual review by the Company Board for increases but not decreases; <U>provided</U>, <U>however</U>,
such Base Salary may be reduced in connection with a broad-based reduction for senior executives of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Bonus, Incentive, Savings and Retirement Plans</U>. During the Employment Period, the Executive shall be eligible to
participate in all bonus, cash incentive, equity incentive, savings and retirement plans, practices, policies, and programs applicable
generally to other executive officers of the Company and the Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Welfare Benefit Plans</U>. During the Employment Period, the Executive and/or the Executive&rsquo;s family, as the case
may be, shall be eligible to participate in all welfare benefit plans, practices, policies and programs provided by the Company
and the Bank (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death
and travel accident insurance plans and programs) to the extent applicable generally to other executive officers of the Company
and the Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Fringe Benefits</U>. During the Employment Period, the Executive shall be entitled to fringe benefits, including, without
limitation, a country club membership and use of a leased luxury automobile (Mercedes, Lexus, BMW, or equivalent) and payment of
related expenses, in accordance with the plans, practices, programs and policies of the Company and the Bank for their executive
officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Vacation</U>. Vacation accrues on a basis equivalent to four (4) weeks per full calendar year of employment, in accordance
with the Bank&rsquo;s standard vacation policy and payroll practices for employees. Vacation will stop accruing after a total of
160 hours (four (4) weeks) are accumulated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Business Expenses</U>. The Executive shall be reimbursed by the Company and the Bank for all reasonable and necessary
business expenses actually incurred by him in performing his duties hereunder in accordance with policies established by the Company
and the Bank from time to time and subject to receipt by the Company or the Bank of appropriate documentation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Covenants of the Executive</U>. In return for the consideration in this Agreement, Executive acknowledges his agreement
to comply with the following obligations:</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: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Non-solicitation.</U> During the Employment Period and for a period of one (1) year following termination of such employment
under any circumstances, the Executive shall not willfully, directly or indirectly, (i) recruit, solicit for employment or otherwise
contract for the services of, or establish a business relationship with (or assist any other person in engaging in any such activities),
any person who is, or within twelve (12) months before any date of determination was (and, following the termination of the Executive&rsquo;s
employment with the Company, within twelve (12) months before or after such termination, was) an officer of the Company or any
of its subsidiaries or affiliates; or (ii) otherwise induce or attempt to induce (or assist any other person in engaging in any
such activities) any officer of the Company or any of its subsidiaries or affiliates to terminate such person&rsquo;s employment
or other relationship with the Company or any of its subsidiaries or affiliates, or in any way interfere with the relationship
between the Company or any of its subsidiaries or affiliates and any such officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information</U>. The Executive shall hold in a fiduciary capacity for the benefit of the Company and the
Bank all proprietary or confidential information, knowledge or data relating to the Company and its subsidiaries and affiliates,
and their respective businesses and operations, which information, knowledge or data shall have been obtained by the Executive
during the Executive&rsquo;s employment by the Company or the Bank and which information, knowledge or data shall not be or become
public knowledge (other than by acts by the Executive or representatives of the Executive in violation of this Agreement) (the
&ldquo;<U>Confidential Information</U>&rdquo;). The Executive shall not, without the prior written consent of the Company or the
Bank or as may otherwise be required by law or legal process, communicate or divulge any such Confidential Information to anyone
other than the Company or the Bank and those persons designated by the Company or the Bank. The foregoing notwithstanding, neither
this Agreement nor any other Company agreement or policy shall prohibit the Executive from making a good faith report or related
disclosures to any governmental agency or entity regarding potential violations of applicable federal, state or local law or to
take other actions protected as whistleblower activity under applicable law. The Executive is not required to notify the Company
of any such reports or disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Non-Disparagement</U>. The Executive shall refrain, both during the Employment Period and after the termination of such
employment, from making or publishing any oral or written statements about the Company or any subsidiary or affiliate, or any of
their known respective officers, employees, stockholders, investors, directors, agents or representatives, that are malicious,
obscene, threatening, harassing, intimidating or discriminatory and which are designed to harm any of the foregoing. The foregoing
restriction shall include, without limitation, statements made, whether directly or indirectly, to or on social media, internet
websites, blogs and electronic bulletin boards, as well as statements to the media, including writers, researchers, reporters,
magazines, newspapers, book publishers, television stations, radio stations, the motion picture industry, public interest groups,
and the publishing industry generally. In the event such a communication is made to anyone, it will be considered a material breach
of the terms of this Agreement. This provision is not intended to limit the Executive&rsquo;s right to give nonmalicious and truthful
testimony should he be subpoenaed to give such testimony, and the foregoing restrictions shall not apply with respect to the Executive&rsquo;s
communication with federal, state or local governmental agencies as may be legally required or otherwise protected by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Company Property</U>. All Confidential Information, files, records, correspondence, memoranda, notes or other documents
(including, without limitation, those in computer-readable form) or property relating or belonging to the Company and its subsidiaries
and affiliates, whether prepared by the Executive or otherwise coming into his possession or control in the course of the performance
of his services for the Company and its subsidiaries and affiliates, shall be the exclusive property of the Company and shall be
delivered to the Company, and not retained by the Executive (including, without limitation, any copies thereof), promptly upon
request by the Company and, in any event, promptly upon termination of his employment. The Executive acknowledges and agrees that
he has no expectation of privacy with respect to the Company&rsquo;s or its subsidiaries&rsquo; or affiliates&rsquo; telecommunications,
networking or information processing systems (including, without limitation, stored computer files, email messages and voice messages),
and that the Executive&rsquo;s activity and any files or messages on or using any of those systems may be accessed and monitored
at any time without notice. Nothing contained herein is intended to constitute a waiver of Executive's privacy rights with respect
to any personal e-mail, home network or home computer systems, except to the extent of any communications pertaining to the business
of the Company or the Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Enforcement</U>. The Executive acknowledges that a breach of his covenants and agreements contained in this Section 6
would cause irreparable damage to the Company and its subsidiaries and affiliates, the exact amount of which would be difficult
to ascertain, and that the remedies at law for any such breach or threatened breach would be inadequate. Accordingly, the Executive
agrees that if he breaches or threatens to breach any of the covenants or agreements contained in this Section 6, then in addition
to any other remedy which may be available at law or in equity, the Company and its subsidiaries and affiliates shall be entitled
to institute and prosecute proceedings in any court of competent jurisdiction for specific performance and injunctive and other
equitable relief to prevent the breach or any threatened breach thereof without bond or other security or a showing of irreparable
harm or lack of an adequate remedy at law. Whenever the Executive is proven to have breached any of the covenants or agreements
contained in this Section 6, after an arbitration proceeding is conducted pursuant to Section 11(n) below, the Company or the Bank
(as applicable) may cease or withhold payment to the Executive of any severance payments described in Section 8, for which he otherwise
qualifies under such Section 8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 60pt">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination of Employment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 60pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&#9;<U>Death</U>. The Executive&rsquo;s
employment shall terminate automatically if the Executive dies during the Employment Period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&#9;<U>Disability</U>. If the Company
determines in good faith that Disability (as defined below) of the Executive has occurred during the Employment Period, it may
give to the Executive written notice in accordance with Section 7 of its intention to terminate the Executive&rsquo;s employment.
In such event, the Executive&rsquo;s employment with the Company shall terminate effective on the thirtieth (30th) day thereafter
(the &ldquo;<U>Disability Effective Date</U>&rdquo;), provided that, within the thirty (30) days after such receipt, the Executive
shall not have returned to full-time performance of his duties. &ldquo;<U>Disability</U>&rdquo; means the absence of the Executive
from the Executive&rsquo;s duties with the Company or the Bank (as applicable) on a full-time basis for ninety (90) consecutive
business days as a result of incapacity due to mental or physical illness that is determined to be total and permanent by a physician
selected by the Company or its insurers and acceptable to the Executive or the Executive&rsquo;s legal representative.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(c)&#9;<U>Cause</U>. The Company may
terminate the Executive&rsquo;s employment during the Employment Period with or without &ldquo;<U>Cause</U>,&rdquo; which means:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.75in">(i)&#9;the willful and continued failure
of the Executive to perform substantially the Executive&rsquo;s duties hereunder (other than any such failure resulting from incapacity
due to physical or mental illness or following the Executive&rsquo;s delivery of a Notice of Termination for Good Reason), after
a written demand for substantial performance is delivered to the Executive by the Company Board that specifically identifies the
manner in which the Company Board believes that the Executive has not substantially performed the Executive&rsquo;s duties, or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.75in">(ii)&#9;the willful engaging by the
Executive in illegal conduct or gross misconduct that is materially and demonstrably injurious to the Company or the Bank.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of this Section 7(c), no act,
or failure to act, on the part of the Executive shall be considered &ldquo;willful&rdquo; unless it is done, or omitted to be done,
by the Executive in bad faith or without reasonable belief that the Executive&rsquo;s action or omission was in the best interests
of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(d)&#9;<U>Good Reason</U>. The Executive&rsquo;s
employment may be terminated during the Employment Period by the Executive for, or by the Executive voluntarily without, &ldquo;<U>Good
Reason</U>,&rdquo; which means:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.75in">(i)&#9;the assignment to the Executive
of any duties inconsistent in any respect with the Executive&rsquo;s position (including status, offices, titles and reporting
requirements), authority, duties or responsibilities as contemplated by Section 1, or any other material diminution in such position,
authority, duties or responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in
bad faith and that is remedied by the Company or the Bank promptly after receipt of notice thereof given by the Executive;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.75in">(ii)&#9;any failure by the Company
or the Bank to comply with any of the provisions of Section 5(a), other than an isolated, insubstantial and inadvertent failure
not occurring in bad faith and that is remedied by the Company or the Bank promptly after receipt of notice thereof given by the
Executive;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.75in">(iii)&#9;the Company&rsquo;s requiring
the Executive (A) to be based at any office or location more than thirty-five (35) miles from the current location of the Company&rsquo;s
administrative offices in Section 4, or (B) to be based at a location other than the administrative or executive offices of the
Company;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.75in">(iv)&#9;any purported termination by
the Company of the Executive&rsquo;s employment otherwise than as expressly permitted by this Agreement; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.75in">(v)&#9;any action or inaction that
constitutes a material breach by the Company or the Bank (as applicable) of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(e)&#9;<U>Notice of Termination</U>.
Any termination of employment by the Company for Cause, or by the Executive for Good Reason, shall be communicated by Notice of
Termination to the other party(ies) (as applicable) hereto given in accordance with Section 9. A &ldquo;<U>Notice of Termination</U>&rdquo;
means a written notice that (i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent
applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive&rsquo;s
employment under the provision so indicated, and (iii) if the Date of Termination (as defined below) is other than the date of
receipt of such notice, specifies the Date of Termination (which Date of Termination shall be not more than thirty (30) days after
the giving of such notice). The failure by the Company or the Executive to set forth in the Notice of Termination any fact or circumstance
that contributes to a showing of Cause or Good Reason, respectively, shall not waive any right of the Company or the Executive
hereunder or preclude the Company or the Executive from asserting such fact or circumstance in enforcing the Company&rsquo;s or
the Executive&rsquo;s respective rights hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(f)&#9;<U>Date of Termination</U>.
&ldquo;<U>Date of Termination</U>&rdquo; means (i) if the Executive&rsquo;s employment is terminated by the Company for Cause,
or by the Executive for Good Reason, the date of receipt of the Notice of Termination or any later date specified in the Notice
of Termination, as the case may be, (ii) if the Executive&rsquo;s employment is terminated by the Company other than for Cause
or Disability, the date on which the Company notifies the Executive of such termination, (iii) if the Executive resigns without
Good Reason, the date on which the Executive notifies the Company of such termination, and (iv) if the Executive&rsquo;s employment
is terminated by reason of death or Disability, the date of death of the Executive or the Disability Effective Date, as the case
may be. Notwithstanding the foregoing, in no event shall the Date of Termination occur until the Executive experiences a separation
from service as referred to in Section 10(d), and the date on which such a separation from service takes place shall be the &ldquo;Date
of Termination.&rdquo;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(g)&#9;<U>Resignation
as Officer or Director</U>. Upon a termination of employment, unless requested otherwise by the Company, the Executive shall resign
each position (if any) that the Executive then holds as a director or officer of the Company, or of the Bank or of any other subsidiaries
or affiliates of the Company. The Executive&rsquo;s execution of this Agreement shall be deemed the grant by the Executive to the
officers of the Company of a limited power of attorney to sign in the Executive&rsquo;s name and on the Executive&rsquo;s behalf
any such documentation as may be required to be executed solely for the limited purposes of effectuating such resignations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 60pt">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Obligations of the Company upon Termination</U>.</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: 1.25in">(a)&#9;<U>Termination by the Company
other than for Cause or Disability, or by the Executive for Good Reason</U>. If, during the Employment Period, the Company terminates
the Executive&rsquo;s employment other than for Cause or Disability, or the Executive terminates his employment for Good Reason,
the Company or the Bank (as applicable) shall pay to the Executive, within thirty (30) days after the Date of Termination, the
following sums if not already paid as of the Date of Termination: (i) the Executive&rsquo;s Base Salary through the Date of Termination;
(ii) the Executive&rsquo;s business expenses that are reimbursable pursuant to Section 5(f), but have not been reimbursed by the
Company or the Bank (as applicable); (iii) the Executive&rsquo;s cash bonus, if any, for the fiscal year in which the Date of Termination
occurs, if such bonus has been determined, but not yet paid; (iv) any accrued vacation pay to the extent not theretofore paid --
the sum of the amounts described in clauses (i), (ii), (iii) and (iv) shall hereafter be referred to as the &ldquo;<U>Accrued Obligations</U>&rdquo;
-- and (v) as severance pay, an amount equal to one and a half year&rsquo;s Base Salary calculated on the basis of the Executive&rsquo;s
then current Base Salary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.25in">(b)&#9;<U>Termination by Reason of
Death or by the Company for Disability</U>. If the Executive&rsquo;s employment is terminated by reason of the Executive&rsquo;s
death or by the Company for Disability during the Employment Period, the Company or the Bank (as applicable) shall pay the Executive
or the Executive&rsquo;s estate or beneficiaries, as the case may be, within thirty (30) days thereafter, an amount equal to the
Accrued Obligations and an amount equal to one and a half year&rsquo;s Base Salary calculated on the basis of the Executive&rsquo;s
then current Base Salary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.25in">(c)&#9;<U>Termination by the Company
for Cause or by the Executive other than for Good Reason</U>. If, during the Employment Period, the Executive&rsquo;s employment
is terminated by the Company for Cause or the Executive voluntarily terminates employment other than for Good Reason, the Company
or the Bank (as applicable) shall pay the Executive an amount equal to the Accrued Obligations and shall have no other obligations
for payment of compensation under this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.25in">(d)&#9;<U>Nonexclusivity</U>. Nothing
in this Agreement shall prevent or limit the Executive&rsquo;s continuing or future participation in any plan, program, policy
or practice provided by the Company or any of its subsidiaries or affiliates and for which the Executive may qualify, nor shall
anything herein limit or otherwise affect such rights as the Executive may have under any other contract or agreement with the
Company or any of its subsidiaries or affiliates. Amounts that are vested benefits or that the Executive is otherwise entitled
to receive under any plan, policy, practice or program of or any other contract or agreement with the Company or any of its subsidiaries
or affiliates at the Date of Termination shall be payable in accordance with such plan, policy, practice or program or contract
or agreement. Without limiting the generality of the foregoing, the Executive&rsquo;s resignation under this Agreement with or
without Good Reason, shall in no way affect the Executive&rsquo;s ability to terminate employment by reason of the Executive&rsquo;s
&ldquo;retirement&rdquo; under, or to be eligible to receive benefits under, any compensation and benefits plans, programs or arrangements
of the Company or any of its subsidiaries or affiliates, including, without limitation, any retirement or pension plans or arrangements
or substitute plans adopted by the Company or any of its subsidiaries or affiliates, and any termination which otherwise qualifies
as Good Reason shall be treated as such even if it is also a &ldquo;retirement&rdquo; for purposes of any such plan, program or
arrangement.</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"></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: justify; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices</U>. All notices, requests, demands, claims, consents and other communications which are required or otherwise
permitted hereunder shall in every case be in writing and shall be (i)&nbsp;delivered personally, (ii)&nbsp;sent by registered
or certified mail, in all such cases with first class postage prepaid, return receipt requested, or (iii)&nbsp;delivered by a recognized
overnight courier service, to the parties at the addresses as set forth below:</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: 1in"></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: 1.25in; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If to the Company or the Bank:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cathay General Bancorp</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9650 Flair Drive</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">El Monte, California 91731</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention: General Counsel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If to the Executive:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the Executive&rsquo;s residence address as</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">maintained by the Company and the Bank</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">in the regular course of their business for</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">payroll purposes, with a copy to:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Barry B. Kaufman, Esq.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16133 Ventura Blvd., Suite 700</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Encino, CA 91436</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">E-mail: bbkaufman@earthlink.net</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">or to such other address
as shall be furnished in writing by any party to the other parties. Any such notices or other communications shall be deemed to
have been given: (A)&nbsp;the date such notice is personally delivered, (B)&nbsp;three days after the date of mailing if sent by
certified or registered mail, or (C)&nbsp;one business day after date of delivery to the overnight courier if sent by overnight
courier.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compliance with Section 409A of the Code</U><B>. </B>The provisions of this Section 10 shall apply solely to the extent
that a payment under this Agreement is subject to Section 409A of the Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;).</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: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>General Suspension of Payments</U>. If the Executive is a &ldquo;specified employee,&rdquo; as such term is defined within
the meaning of Section 409A of the Code, any payments or benefits payable or provided as a result of the Executive&rsquo;s termination
of employment that would otherwise be paid or provided prior to the first day of the seventh month following such termination (other
than due to death) shall instead be paid or provided on the earlier of (i) the six months and one day following the Executive&rsquo;s
termination, (ii) the date of the Executive&rsquo;s death, or (iii) any date that otherwise complies with Section 409A of the Code.
In the event that the Executive is entitled to receive payments during the suspension period provided under this Section, the Executive
shall receive the accumulated benefits that would have been paid or provided under this Agreement within the suspension period
on the earliest day that would be permitted under Section 409A of the Code. In the event of any delay in payment under this provision,
the deferred amount shall bear interest at the prime rate (as stated in the Wall Street Journal) in effect on his termination date
until paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Release Payments</U>. In the event that the Executive is required to execute a release to receive any payments from the
Company that constitute nonqualified deferred compensation under Section 409A of the Code, payment of such amounts shall not be
made or commence until the sixtieth (60th) day following such termination of employment. Any payments that are suspended during
the sixty (60) day period shall be paid on the date the first regular payroll is made immediately following the end of such period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Reimbursement Payments</U>. The following rules shall apply to payments of any amounts under this Agreement that are
treated as &ldquo;reimbursement payments&rdquo; under Section 409A of the Code: (i) the amount of expenses eligible for reimbursement
in one calendar year shall not limit the available reimbursements for any other calendar year (other than an arrangement providing
for the reimbursement of medical expenses referred to in Section 105(b) of the Code); (ii) the Executive shall file a claim for
all reimbursement payments not later than thirty (30) days following the end of the calendar year during which the expenses were
incurred, (iii) the Company shall make such reimbursement payments within thirty (30) days following the date the Executive delivers
written notice of the expenses to the Company; and (iv) the Executive&rsquo;s right to such reimbursement payments shall not be
subject to liquidation or exchange for any other payment or benefit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Separation from Service</U>. For purposes of this Agreement, any reference to &ldquo;termination&rdquo; of the Executive&rsquo;s
employment shall be interpreted consistent with the meaning of the term &ldquo;separation from service&rdquo; in Section 409A(a)(2)(A)(i)
of the Code and no portion of any severance payments shall be paid to the Executive prior to the date he incurs a separation from
service under Section 409A(a)(2)(A)(i) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Installment Payments</U>. For purposes of Section 409A of the Code and the regulations and other guidance thereunder
and any state law of similar effect (including without limitation Treasury Regulations Section 1.409A-2(b)(2)(iii)), all payments
made under this Agreement (whether severance payments or otherwise) will be treated as a right to receive a series of separate
payments and, accordingly, each installment payment under this Agreement will at all times be considered a separate and distinct
payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>General</U>. Notwithstanding anything to the contrary in this Agreement, it is intended that the severance benefits and
other payments payable under this Agreement satisfy, to the greatest extent possible, the exemptions from the application of Section
409A of the Code provided under Treasury Regulations Sections 1.409A-1(b)(4), 1.409A-1(b)(5), and 1.409A-(b)(9) and this Agreement
will be construed to the greatest extent possible as consistent with those provisions. The commencement of payment or provision
of any payment or benefit under this Agreement shall be deferred to the minimum extent necessary to prevent the imposition of any
excise taxes or penalties on the Company or the Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Miscellaneous</U>.</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: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Governing Law</U>. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State
of California, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of California
or any other jurisdiction).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Severability</U>. Whenever possible, each provision of this Agreement shall be construed and interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by, or invalid,
illegal or unenforceable in any respect under, any applicable law or rule in any jurisdiction, such prohibition, invalidity, illegality
or unenforceability shall not affect any other provision of this Agreement or any other jurisdiction, and the parties undertake
to implement all efforts which are necessary, desirable and sufficient to amend, supplement or substitute all and any such prohibited,
invalid, illegal or unenforceable provisions with enforceable and valid provisions in such jurisdiction which would produce as
nearly as may be possible the result previously intended by the parties without renegotiation of any material terms and conditions
stipulated herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Cooperation</U>. During the Employment Period and thereafter, the Executive shall cooperate with the Company and the
Bank and be reasonably available to the Company and the Bank with respect to continuing and/or future matters related to period
of the Executive&rsquo;s employment with the Company and/or any of its subsidiaries or affiliates or any matter of which he otherwise
has knowledge, whether such matters are business-related, legal, regulatory or otherwise (including, without limitation, the Executive
appearing at the Company&rsquo;s or the Bank&rsquo;s request to give testimony without requiring service of a subpoena or other
legal process, volunteering to the Company and the Bank all pertinent information and turning over to the Company and the Bank
all relevant documents which are or may come into the Executive&rsquo;s possession). The Company and the Bank shall reimburse the
Executive for all reasonable out-of-pocket expenses incurred by the Executive in rendering such services after the Employment Period
that are approved by the Company or the Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Successors and Assigns</U>. This Agreement shall be binding upon, inure to the benefit of and be enforceable by, the
Company and the Bank and their successors and assigns and the Executive and the Executive&rsquo;s heirs, executors, administrators
and personal representatives; <U>provided</U> that the services provided by the Executive under this Agreement are of a personal
nature, and the rights and obligations of the Executive under this Agreement shall not be assignable or delegable, except for any
payments upon death of the Executive under Section 8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Executive&rsquo;s Representation by Counsel</U>. <B>THE EXECUTIVE HEREBY ACKNOWLEDGES AND REPRESENTS THAT THE <FONT STYLE="text-transform: uppercase">Executive</FONT>
HAS CONSULTED WITH INDEPENDENT LEGAL COUNSEL REGARDING THE <FONT STYLE="text-transform: uppercase">Executive&rsquo;s</FONT> RIGHTS
AND OBLIGATIONS UNDER THIS AGREEMENT, TO THE EXTENT DETERMINED NECESSARY OR APPROPRIATE BY THE EXECUTIVE, AND THAT THE <FONT STYLE="text-transform: uppercase">Executive
</FONT>FULLY UNDERSTANDS THE TERMS AND CONDITIONS CONTAINED HEREIN</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Withholding</U>. All amounts payable hereunder shall be subject to withholding for all taxes and deductions required
by any federal, state, local or other applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Entire Agreement</U>. This Agreement, together with the Change of Control Agreement, constitutes the entire agreement
and understanding between the parties hereto with respect to employment of the Executive, and terminates and supersedes any and
all prior agreements, understandings and representations, whether written or oral, by or between the parties hereto or their affiliates
which may have governed employment of the Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Survival</U>. The covenants set forth in Sections 6 and 11(c) shall survive and shall continue to be binding upon the
Executive notwithstanding the termination of this Agreement for any reason whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Amendment and Waiver</U>. The provisions of this Agreement may be amended or waived only with the prior written consent
of the Company, the Bank and the Executive, and no course of conduct or course of dealing or failure or delay by any party hereto
in enforcing or exercising any of the provisions of this Agreement shall affect the validity, binding effect or enforceability
of this Agreement or be deemed to be an implied waiver of any similar or dissimilar requirement, provision or condition of this
Agreement at the same or any prior or subsequent time. Pursuit by any party of any available remedy, either in law or equity, or
any action of any kind, shall not constitute waiver of any other remedy or action. Such remedies and actions are cumulative and
not exclusive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Execution and Counterparts</U>. This Agreement may be executed in two or more counterparts, each of which shall be deemed
an original and all of which taken together shall constitute one agreement. A facsimile or electronic signature to this Agreement
shall be deemed an original and binding upon the party(ies) against whom enforcement is sought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Headings and References</U>. Section and subsection headings in this Agreement are included herein for convenience of
reference only and shall not constitute a part of this Agreement for any other purpose. References to Sections and subsections
herein shall refer to the Sections and subsections in this Agreement unless expressly indicated otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Jurisdiction and Venue</U>. In connection with enforcement of equitable remedies under Section 6(e), each of the parties
hereto hereby irrevocably submits to the exclusive jurisdiction of any federal or state court located in the State of California,
County of Los Angeles, and each of the parties agrees that any action to enforce equitable remedies must be commenced only in the
a federal or state court located in the State of California, County of Los Angeles. All of the parties hereto hereby irrevocably
waive any objection which he or it may now or hereafter have to the laying of the venue of any such suit, action or proceeding
brought in such a court and any claim that any such suit, action or proceeding brought in such a court has been brought in an inconvenient
forum. Each of the parties hereto hereby irrevocably consents to the service of process in any such suit, action or proceeding
by sending the same by certified mail, return receipt requested, or by recognized overnight courier service, to the address of
such party set forth in Section&nbsp;9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Construction</U>. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In
the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly
by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party hereto by virtue of
the authorship of any of the provisions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Dispute Resolution</U>. Any dispute, claim or controversy arising out of or relating to this Agreement, or the breach,
termination, enforcement, interpretation or validity hereof, or otherwise arising out of or relating to the Executive&rsquo;s employment
relationship with the Company or the Bank, shall be first submitted to mediation using a mediator of the parties' choosing or,
if no agreement can be reached, using a mediator selected pursuant to a &quot;striking&quot; procedure based on 10 neutrals proposed
by ADR Services, Inc., in Los Angeles. The cost of the mediation shall be divided equally by the parties. If the mediation is unsuccessful
in resolving the parties' dispute, the matter shall be subject to, and resolved through, binding arbitration in Los Angeles, California,
before a single arbitrator acceptable to the Executive, on the one hand, and the Company and the Bank, on the other hand, in accordance
with the then-current Employment Arbitration Rules and Mediation Procedures of the American Arbitration Association. While this
Agreement has been mutually negotiated, this mandatory arbitration covenant has not been requested by the Executive and nothing
contained herein should be construed as a waiver of his statutory rights protected by California Civil Code section 3513 or of
his right to request temporary reallocation of the arbitration forum expenses, if based on a showing of need or exigent circumstances.
The arbitrator shall issue a reasoned award applying California law, and judgment upon any award rendered by the arbitrator may
be entered in any court having jurisdiction thereof. The prevailing party in any dispute relating to this Agreement, or in any
dispute arising out of the Executive&rsquo;s employment relationship with the Company or the Bank, shall be entitled to recover
his or its reasonable attorney&rsquo;s fees in addition to all reasonable related costs, including any arbitration forum expenses
paid during the arbitration proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signatures on next page</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</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 WITNESS WHEREOF,
the parties hereto have entered into this Agreement as of the day and year first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; 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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>CATHAY GENERAL BANCORP</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Dunson K. Cheng</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dunson K. Cheng</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman, President, and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>CATHAY BANK</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Dunson K. Cheng</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dunson K. Cheng</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>EXECUTIVE</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ PIN TAI</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">PIN TAI</FONT></TD></TR>
</TABLE>
<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"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>v447379_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html><head><META content="text/html; charset=utf-8"></META></head><body style="font-size:10pt;font-family:Arial;color:black;"><div style="width:100%;margin-left:10pt">
<p style="text-align:center">&nbsp;</P>

<P STYLE="text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="text-align: center"><b>Cathay General Bancorp Announces Retirement of Dunson K. Cheng and Appointment of Pin Tai as CEO and President</b></p></div><div style="width:100%;margin-left:10pt;"><div style="margin:0;margin-top:16pt;"><p>LOS ANGELES, Aug. 19, 2016 /PRNewswire/ -- Cathay General Bancorp (the &#34;Company&#34;, NASDAQ: CATY), the holding company for Cathay Bank (the &#34;Bank&#34;), announced that Dunson K. Cheng has notified the Company of his intention to retire from his position as President and Chief Executive Officer (&#34;CEO&#34;) of the Company and as CEO of Cathay Bank, effective September 30, 2016.  Mr. Cheng will continue as Executive Chairman of the Company and of Cathay Bank.</p><IMG SRC="a138939.jpg" ALIGN="MIDDLE"></div><p>In accordance with the Company&#39;s succession plan, the Boards of Directors of the Company and of Cathay Bank appointed Mr. Pin Tai as CEO and President of the Company and as CEO of Cathay Bank, and Mr. Cheng as Executive Chairman of the Company and of Cathay Bank, effective October 1, 2016.  Mr. Tai is currently the President of Cathay Bank.</p><p>&#34;It has been an honor and a privilege to have served and led the Company,&#34; Mr. Cheng said. &#34;At the time I joined the Bank in 1982, Cathay was $192 million in asset size with two branches in Los Angeles. As of June 30, 2016, we are $13 billion strong in assets, with 59 branches across nine states in
the U.S. and Hong Kong, as well as offices in Asia. It is time to pass the torch of leadership to a new generation of well-qualified colleagues.  Pin has served in several key management roles during his 17-year tenure with Cathay. He was instrumental in the development of our East Coast footprint and, under his direction while serving as the Chief Lending Officer, our lending divisions have been enhanced to capture greater market share.  He will continue Cathay&#39;s strong commitment to customer satisfaction and increasing stockholder value.&#34; </p><p>&#34;I am humbled by this opportunity and excited to serve and lead the Company going forward,&#34; said Mr. Tai.  &#34;Dunson has done a tremendous job in positioning the Company for future growth, and I look forward to continuing to build on this strong foundation and disciplined corporate culture.&#34;</p><p>&#34;The Board of
Directors is very grateful for Dunson&#39;s leadership, dedication and years of unparalleled service to the Company,&#34; said Patrick S.D. Lee, the Company&#39;s Lead Director.  &#34;He has led the Company through numerous milestones, solidifying our institution in the marketplace.  Dunson has also prepared Pin to undertake his new role and we look forward to working with Pin.&#34;  </p><p>Dunson K. Cheng has led the Company and Cathay Bank for more than 30 years.  He became a Director of Cathay Bank in 1982 and has been a Director of the Company since it was formed as a bank holding company in 1990.  He joined the management team at Cathay Bank in 1984 and was named President in 1985.  He has been the President of the Company since 1990, Chairman of the Boards of the Company and Cathay Bank since 1994, CEO of the Company and Cathay Bank since 2003, and President of Cathay Bank from
1985 until April 2015, when Mr. Tai assumed the position of President of Cathay Bank.  </p><p>Under Mr. Cheng&#39;s leadership, the Company has experienced significant growth, which included establishing additional branches in California and elsewhere, the successful completion of nine mergers and acquisitions that expanded its geographic presence, the establishment of representative offices and a full-service branch in Asia, and the opening of its corporate center in El Monte, California.  During Mr. Cheng&#39;s tenure, the organization was reorganized as a bank holding company in which the Company&#39;s stock became listed for trading on NASDAQ.  </p><p>Pin Tai has been President and a Director of Cathay Bank since April 1, 2015.  Mr. Tai joined Cathay Bank in 1999 as General Manager of New York Region. In 2006, he became Executive Vice President and the General Manager of Eastern
Regions, and then became the Deputy Chief Lending Officer in 2010 and the Chief Lending Officer of Cathay Bank in 2013. Mr. Tai has over 34 years of banking experience. Prior to joining Cathay Bank, Mr. Tai worked at the Bank of China in its New York office and at Bank of America in Hong Kong and China.</p><p><b>ABOUT CATHAY GENERAL BANCORP</b></p><p>Cathay General Bancorp is the holding company for Cathay Bank, a California state-chartered bank. Founded in 1962, Cathay Bank offers a wide range of banking services. Cathay Bank currently operates 34 branches in California, 12 branches in New York State, three in the Chicago, Illinois area, three in Washington State, two in Texas, one in Maryland, one in Massachusetts, one in Nevada, one in New Jersey, one in Hong Kong, and a representative office in Shanghai and in Taipei. Cathay Bank&#39;s website is found at http://www.cathaybank.com.
Cathay General Bancorp&#39;s website is found at http://www.cathaygeneralbancorp.com.  Information set forth on such websites is not incorporated into this press release.</p><p>Logo - http://photos.prnewswire.com/prnh/20140822/138939 </p><p> </p>
<br /><br /><p>CONTACT: Heng W. Chen, (626) 279-3652</p></div></body></html>
</TEXT>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
