These excerpts taken from the CLFC 8-K filed Dec 16, 2008.
AGREEMENT CONCERNING COMPENSATION PROVISIONS
WHEREAS, Lisa Kim Pai (Executive) was granted certain severance and other compensation by the Personnel and Compensation Committee of Center Financial Corporation and Center Bank (collectively referred to herein as the Company) on May 14, 2008, in connection with Executives employment by the Company as Executive Vice President, General Counsel, Chief Risk Officer and Corporate Secretary (the Compensation Provisions);
WHEREAS, the parties desire to amend the Compensation Provisions in order to comply with the terms and conditions of the TARP Program as discussed below;
NOW, THEREFORE, the parties hereto agree that the following shall take effect as of the date hereof:
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of November 25, 2008.