Amendment No. 3 to the Cathay Bank Employee Stock Ownership Plan, as amended and restated, effective December 22, 2015

Exhibit 10.1

AMENDMENT NO. 3
TO THE
CATHAY BANK
EMPLOYEE STOCK OWNERSHIP PLAN

Cathay General Bancorp (the "Company") hereby amends the above-named plan (the "Plan"), effective as of January 1, 2016, as follows:

1.     Subsection (iv) of Section 6.2(a) of the Plan is hereby amended in its entirety to read as follows:

"(iv)     Despite any other provision of the Plan, the benefits in the Participant's Stock Account that consist of Stock in an S Corporation shall be distributed in the form of cash. Any benefits in the Participant's Stock Account that do not consist of Stock in an S Corporation shall also be distributed in the form of cash, unless such Participant elects to receive his or her benefits in the form of Stock."

* * * * * * * *

The Company has caused this Amendment No. 3 to be signed on the date indicated below, to be effective as indicated above.