THIS EMPLOYMENT AGREEMENT (the "Agreement"), between The Bank of the Pacific, a Washington
business corporation ("the Bank") and John Van Dijk ("Executive") is dated as of January 2, 2003 and will be
effective January 2, 2003.
A. The Bank of the Pacific is a Washington banking corporation. The Bank is engaged in the business of
commercial banking in Grays Harbor County, Pacific County and Wahkakiam County, Washington.
B. The Executive represents he has considerable experience, expertise and training in management related to
banking and services offered by the Bank. The Bank desires and intends to employ the Executive pursuant to the
terms and conditions set forth in this Agreement.
C. Both the Bank and the Executive have read and understand the terms and provisions set forth in this
Agreement, and have been afforded a reasonable opportunity to review this Agreement and to consult with an
The parties agree as follows:
1. EMPLOYMENT. The Bank will employ the Executive for the Term, except as specifically stated herein, and
the Executive accepts employment with the Bank on the terms and conditions set forth in this Agreement. The
Executive's title will be "Executive Vice President and Chief Financial Officer" for the Bank.
2. EFFECTIVE DATE AND TERM.
(a) Effective Date. This Agreement is effective as of the 2nd Day of January 2003
(b) Term. The initial term of this Agreement is three years (36 months), beginning on the Effective Date stated in
paragraph 2.(a), after which it shall renew annually for a term of three years (36 months) unless notice of
termination or nonrenewal is provided by either party pursuant to paragraph 5(a).
3. DUTIES. The Executive will serve as the Executive Vice President and Chief Financial Officer and faithfully
and diligently perform the duties assigned to the Executive by the CEO. The Executive will use his best efforts to
perform his duties and will devote all his
working time and attention to these