PARTIES: PREMIERWEST BANK (the "Bank")
P.O. Box 40
Medford, OR 97501
PREMIERWEST BANCORP (the "Company") P.O. Box 40
Medford, OR 97501
TOM ANDERSON ("Executive")
be employed by the Bank, the parties agree as follows:
1. POSITION AND TERM
1.1 Effective as of the date of arrival, which shall be on or about March 1, 2002 the Bank shall employ
Executive, and Executive shall report for duty at the Bank as Senior Vice President and Chief Financial Officer of
the Bank, and the Executive shall serve the Bank in such capacity, or in such other capacity as the Bank may, in
its discretion, direct Executive to serve. Executive shall also serve as Senior Vice President and Chief Financial
Officer of the Company, but shall receive no additional compensation for service in those capacities.
2. EXTENT OF SERVICES
2.1 Executive shall devote his full time and attention exclusively to the performance of the work and duties
assigned to him for and on behalf of the Bank.
2.2 Executive shall perform his duties with fidelity and to the best of his ability and shall, at all times during
employment by the Bank and thereafter, respect the confidential nature of the information received by his in the
course of performing his duties.
2.3 Nothing contained in this Section 2 shall prohibit the Executive from serving as a director of any other
corporation not in direct competition with the Bank (subject to the Bank's approval which will not be
unreasonably withheld), or from owning or controlling shares of stock in any other corporation, whether or not
the capital stock thereof is publicly traded (including a corporation that is in direct competition with the Bank, the
Company or any subsidiaries or affiliates thereof, if the stock of such competing corporation is publicly traded
and the Executive does not beneficially own more than one percent (1%) of the outstanding shares of such
225 Queens Branch Road.