COLUMBIA RIVER BANK
EXECUTIVE SALARY CONTINUATION AGREEMENT
THIS AGREEMENT is adopted effective June 3, 2002 by and between COLUMBIA RIVER BANK, a state-
chartered commercial bank with headquarters in The Dalles, Oregon ("Bank") and GREG B. SPEAR (the
R E C I T A L S
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:
"Change of Control" means the transfer of shares of the Bank's voting common stock such that one entity or one
person acquires (or is deemed to acquire when applying Section 318 of the Code) more than 50 percent of the
Bank's outstanding voting common stock followed within twelve (12) months by the Executive's Termination of
Employment for reasons other than death, Disability or retirement.
"Code" means the Internal Revenue Code of 1986, as amended.
"Demotion" means a material reduction in the Executive's duties or compensation.
"Disability" means the Executive's suffering a sickness, accident or in