On March 28, 2022, Hope Bancorp, Inc. (“the Company”) and Bank of Hope (“the Bank”) entered into a Third Amended and Restated Employment Agreement (the “Agreement”), effective as of March 28, 2022, with Mr. Kevin S. Kim with respect to his service as the President of both the Company and the Bank. The agreement replaces Mr. Kim's existing employment agreement entered into with the Company on April 27, 2017. Mr. Kim will be employed as the Chief Executive Officer and President of the Company and the Bank during the term of the Agreement and will report in such capacities to the boards of directors of the Company and the Bank, respectively.

Mr. Kim has agreed that he will serve as a director of the Company and the Bank during the term of the Agreement and the Company has agreed that it will use all reasonable efforts to cause Mr. Kim to be nominated for reelection as a director during such term.