2005 SPLIT DOLLAR AGREEMENT
COLUMBIA RIVER BANK-R. Shane Correa
This Agreement (the "Agreement") is made and entered into effective the 5(th) day of January 2005, by and
between COLUMBIA RIVER BANK, a state-chartered commercial bank located in The Dalles, Oregon, (the
"Bank"), and R. Shane Correa (the "Executive"). This Agreement shall append the Split Dollar Endorsement
entered into on even date herewith, or as subsequently amended, by and between the aforementioned parties.
WHEREAS, the Executive as an employee of the Bank, and the Executive's experience and knowledge of the
affairs of the Bank and the banking industry are extensive and valuable;
WHEREAS, to encourage the Executive to remain an employee of the Bank, the Bank is willing to divide the
death proceeds of a life insurance policy on the Executive's life, and to pay such life insurance premiums from its
WHEREAS, it is deemed to be in the best interests of the Bank to provide the Executive with a benefit, on the
terms and conditions set forth hereto, 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
benefit 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:
Now, therefore, it is agreed:
SECTION 1 - Definitions
1.1 The following terms use in the Agreement shall have the meanings specified:
(i) "Holding Company" shall mean Columbia Bancorp, the parent corporation of the Bank.
(ii) "Insured" means the Executive.
(iii) "Insurer" means each life insurance carrier in which there is a Split Dollar Policy Endorsement attached to this
(iv) "Death Proceeds" means the total death proceeds of the Policy.
(v) "Normal Retirement Age" means the Executive