Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 5, 2009, Nara Bancorp, Inc. ("Nara Bancorp" or the "Company"), entered into a First Amendment to CEO Employment Contract (the "Renewal") with Min J. Kim, as the President and Chief Executive Officer of Company and its wholly owned subsidiary Nara Bank (the "Bank"). Ms. Kim's original employment contract (the "Original Agreement") was set to expire on November 27, 2009.

The Renewal carries a three (3) year term, and provides for a yearly base salary of $350,000. On November 27, 2009, Ms. Kim shall be granted 40,000 performance units representing 40,000 shares of Common Stock of Company. The units vest over a three (3) year period, 1/3 annually on each anniversary of the grant date

In order to comply with the Company's obligations resulting from its participation in the United States Treasury's Capital Purchase Program (the "TARP Obligations"), the Renewal amends certain provisions of the Original Agreement to eliminate certain annual cash bonuses, change in control and severance payments. In the event the Company repays its outstanding TARP Obligations, the Board of Directors shall, in its sole discretion, reconsider including provisions relating to the foregoing items on a going-forward basis.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release issued by Nara Bancorp, Inc. dated October 5, 2009.

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