August 13, 2008
Mr. John Park
4837 Ramsdell Ave.
La Crescenta, CA 91214
Dear Mr. Park:
Hanmi Bank is pleased to extend an offer of employment to you as an Executive Vice President
and Chief Credit Officer, on a full-time basis. In this position, you will be classified as an
exempt employee, and are not eligible for overtime. Your annual starting salary will be $210,000
and you will receive the following incentives/ benefits:
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Up to 50% Annual Salary Incentive Compensation based on a set of goals (not pro-rated
for year 2008) |
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30,000 Stock Option Grant |
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5,000 Restricted Stock Grant |
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Auto allowance $700 per month |
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Cell phone allowance $100 per month plus Gas Card |
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401K Plan |
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20 days of paid annual vacation |
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Immediate coverage of health insurance |
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Other benefits as offered to all bank employees |
All benefits are subject to change at the Banks sole discretion and also subject to the terms
and conditions contained in the Banks employee handbook. This offer is conditional on you
providing an acceptable evidence of your legal right to work and on the Banks review and approval
of the results of a background and/or credit investigation.
We greatly look forward to having you join our Bank and become a member of our team. However,
we recognize that you retain the option, as does the Bank, of ending your employment with the Bank
at any time, with or without notice and with or without cause. As such, your employment with the
Bank is at-will and neither this letter nor any other oral or written representations may be
considered a contract for any specific period of time.
If you plan to accept this offer, please be sure to return a signed copy of this letter to me
or Human Resources Department immediately. We look forward to your joining our team at Hanmi Bank.
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Sincerely,
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/s/ Jay S. Yoo
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Jay S. Yoo |
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President & CEO |
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I accept the offer from Hanmi Bank.
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/s/ John Park
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August 13, 2008 |
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Name & Signature
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Date |