Exhibit 10.3

AGREEMENT

CASCADE
CORPORATION (Cascade) and GREGORY S. ANDERSON (GSA) agree as follows:

1.Purpose.GSA has served as a Cascade employee for 24 years, most recently as Senior Vice
PresidentHuman Resources. GSA has announced his retirement from Cascade employment, effective June 30, 2008. This Agreement sets forth each party's agreements and undertakings in
connection with GSA's retirement.

2.Fiscal 2009 Employment and Base Compensation.Commencing February 1, 2008, and extending through
June 30, 2008, GSA shall undertake such projects, and work from such locations, as Cascade's Chief Executive Officer may reasonably request. Cascade shall pay GSA base compensation of $16,667
per month, payable through its payroll system at such times as Cascade makes monthly base compensation payments to other executive-level employees.

3.Fiscal 2009 Incentive.Immediately following June 30, 2008, Cascade shall pay GSA $45,000.
Additionally, Cascade shall pay GSA an amount equal to 5/12 of any incentive compensation above $45,000 to which he would have been entitled under Cascade compensation policies
effective for the 2009 fiscal year had he remained a Cascade executive officer through January 31, 2009 receiving base salary at the rate of $200,000 per year. Such payment, if any, shall be
made when fiscal 2009 incentive payments are made to senior Cascade executives in the USA under Cascade compensation policies. The payment or payments described in this paragraph shall be in
satisfaction of all claims GSA may have for incentive compensation relating to services rendered in fiscal 2009.

4.Consultant Services.GSA shall serve as a consultant to Cascade during the period July 1, 2008,
through June 30, 2009, on the following terms and conditions:



5.401(k) Participation.GSA shall be eligible to make deferral contributions, and to receive matching and
defined contributions under the Cascade Corporation Savings and Investment Plan based upon compensation earned through June 30, 2008 and applicable Plan provisions.

6.Stock Appreciation Rights.(a) Any Stock Appreciation Rights previously granted to GSA pursuant to Cascade's
Stock Appreciation Rights and Restricted Stock Plan which have not vested as of June 30, 2008 shall expire, in accordance with the terms upon which such rights were granted.

(b)   Any
provision of any grant of Stock Appreciation Rights to GSA to the contrary notwithstanding, GSA shall be entitled to exercise Stock Appreciation Rights which are
vested as of June 30, 2008, at any time through September 30, 2009; provided, however, any exercise of Stock Appreciation Rights prior to September 30, 2008, must be take place
within 30 days following the public announcement of Cascade's quarterly or annual financial results, as the case may be.

7.Restricted Shares.Any provision of any grant of Restricted Shares to GSA notwithstanding, all Restricted
Shares previously granted GSA which have not vested as of June 30, 2008, shall fully vest as of June 30, 2009, provided that GSA has complied with his obligations under this Agreement.
As a condition of such vesting, GSA shall execute such releases of claims in connection with his retirement from Cascade employment as Cascade may request.

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8.Medical Coverage.Cascade shall provide GSA with individual and spousal medical and dental coverage through
June 30, 2009, pursuant to the Cascade Medical/Dental Plan or its successor plan as in effect from time to time on the same basis as such coverage is provided to senior Cascade executives in
the United States, including employee contribution to cost of coverage. Effective July 1, 2009, GSA shall be eligible to participate in Cascade-sponsored retiree medical plans in accordance
with his Cascade service and the plans as in effect from time to time, including retiree contribution requirements. GSA shall contribute toward the cost of coverage on the same basis as Cascade
employees or retirees

9.Automobile.At June 30, 2008, Cascade shall transfer ownership of the 2004 Audi automobile presently
used by GSA to GSA. Cascade may make any required withholdings in connection with the transfer from amounts otherwise payable to GSA hereunder.

10.Withholdings.All payments to GSA hereunder shall be subject to such withholdings as Cascade may determine
it is legally required to make.

11.Entire Agreement.This document represents the parties' entire agreement with respect to its subject matter
and may be modified, or any provision waived, only by a writing signed by both parties which expressly modifies or waives such provision. Except as specifically modified by this Agreement, agreements
respecting GSA's rights and obligations under the Cascade's Stock Appreciation and Restricted Stock Plan and the Cascade Corporation Savings and Investment Plan shall remain in full force and effect.

DATED
this 25th day of January, 2008.

|CASCADE CORPORATION |  | /s/GREGORY S. ANDERSONGregory S. Anderson
|------------------- |  | -----------------------------------------
|By                  |  | Gregory S. Anderson                      
|Title               |  | Sr. VP HR                                
|By                  |  | Robert C. Warren Jr.                     
|Title               |  | President and CEO                        

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