COLUMBIA RIVER BANK
EXECUTIVE SALARY CONTINUATION AGREEMENT
THIS AGREEMENT is adopted effective October 1, 2003 by and between COLUMBIA RIVER BANK, a
state-chartered commercial bank with headquarters in The Dalles, Oregon (the "Bank") and R. SHANE
CORREA (the "Executive").
WHEREAS, the Executive is an employee of the Bank;
WHEREAS, the Executive's experience and knowledge of the affairs of the Bank and the banking industry are
extensive and valuable;
WHEREAS, the Bank desires to establish a compensation benefit program consisting of salary continuation
benefits for the Executive, to be paid from the Bank's general assets.
WHEREAS, it is deemed to be in the best interests of the Bank to provide the Executive with such benefits, on
the terms and conditions set forth herein, in order to reasonably induce the Executive to remain in the Bank's
WHEREAS, the Executive and the Bank wish to specify in writing the terms and conditions upon which this
additional compensatory incentive will be provided to the Executive;
NOW, THEREFORE, in consideration of the services to be performed by the Executive in the future, as well as
the mutual promises and covenants contained herein, the Executive and the Bank agree as follows:
SECTION 1 - Definitions
Whenever used in this Agreement, the following words and phrases shall have the meanings specified:
"Accrual Balance" means the liability that should be accrued by the Bank, under Generally Accepted Accounting
Principles ("GAAP"), for the Bank's obligation to the Executive under this Agreement, by applying Accounting
Principles Board Opinion Number 12 ("APB 12") as amended by Statement of Financial Accounting Standards
Number 106 ("FAS 106") and the Discount Rate. Any one of a variety of amortization methods may be used to
determine the Accrual Balance. However, once chosen, the method must be consistently applied. The Accrual
Balance shall be reported by the Bank to the Executive on Schedule A.