HANMI FINANCIAL CORPORATION
DEFERRED COMPENSATION PLAN
ARTICLE 1: PURPOSES AND DEFINITIONS
1.1 Purposes .
The purposes of the Plan are to provide Eligible Persons with flexibility with respect to the timing of their
Compensation and to assist the Company in attracting and retaining such persons.
Whenever used in the Plan, the following terms shall have the meaning set forth or referenced below:
“Account” means the bookkeeping account maintained by the Company in the name of a Participant.
“Base Salary” means an Employee’s annual base salary as in effect from time to time.
“Beneficiary” means the person or persons, including corporations, unincorporated associations or trusts,
designated from time to time by the Participant as his beneficiary under the Plan. If there is no such
designated person or persons or if all such persons shall have all predeceased the Participant or otherwise
ceased to exist, the Participant’s Beneficiary shall be the Participant’s spouse or, if none, the Participant’s
“Board” means the board of directors of the Company and its subsidiaries.
“Bonus” means a cash bonus payable pursuant to an incentive compensation plan maintained by the
“Business Day” means a day, except for a Saturday, Sunday or a legal holiday.
“Change in Control” means a change in the ownership or effective control of the Company, or in the
ownership of a substantial portion of the assets of the Company as such change is defined in Section 409A
of the Code and regulations thereunder. “Code” means the Internal Revenue Code of 1986, as amended.
“Committee” means the compensation committee of the Board or such other committee of the Board
designated by it to act as the committee for purposes of the Plan.
“Company” means Hanmi Financial Corporation and its subsidiaries.
“Compensation” means Base Salary, Bonus