Cathay Bank Bonus Deferral AgreementBonus Deferral Agreement • March 19th, 2014 • Cathay General Bancorp • State commercial banks • California
This Bonus Deferral Agreement ("Agreement"), effective as of March 13, 2014, between Dunson K. Cheng, Chairman, President, and CEO of Cathay General Bancorp and Cathay Bank (the "Executive"), and Cathay General Bancorp and Cathay Bank (collectively, the "Company"), constitutes the agreement between the Executive and the Company for the deferral of payment of $300,000, the Executive's incentive bonus for the fourth quarter of 2013 ("Deferred Amount"). Except as otherwise provided for below, the Company shall pay the Deferred Amount on January 1 of the first year following the Executive's separation from service from the Company. If the Executive is a specified employee (as defined in Section 409A(a)(2)(B)(i) of the Internal Revenue Code of 1986, as amended (the "Code") and determined pursuant to related IRS guidance and Treasury regulations now and as may be enacted in the future), the Company shall pay the Deferred Amount on the later of: (i) January 1 of the first year following the E
