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                                                                   EXHIBIT 10.20

                               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 "Executive").

                                 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
employment; and

         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.

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         "Disability" means the Executive's suffering a sickness, accident or
injury which has been determined by the carrier of any individual or group
disability insurance policy covering the Executive, or by the Social Security
Administration, to be a disability rendering the Executive totally and
permanently disabled. The Executive must submit proof to the Bank of the
carrier's or Social Security Administration's determination upon the request of
the Bank.

         "Early Termination" means the Termination of Employment before Normal
Retirement Age for reasons other than death, Disability, Termination for Cause
or following a Change of Control.

         "Early Termination Date" means the month, day and year in which Early
Termination occurs.

         "Effective Date" means 10/01/01.

         "Holding Company" shall mean Columbia Bancorp, the parent corporation
of the Bank.

         "Normal Retirement Age" means the Executive's 62nd birthday.

         "Normal Retirement Date" means the later of the Normal Retirement Age
or Termination of Employment.

         "Plan Year" means a twelve-month period commencing on 10/01 and ending
on 09/30 of each calendar year.

         "Termination for Cause" shall have the meaning set forth in Section 5
herein.

         "Termination of Employment" means that the Executive ceases to be
employed by the Bank for any reason, voluntary or involuntary, other than by
reason of a leave of absence approved by the Bank.

SECTION 2 - Benefits During Lifetime

         2.1      Normal Retirement Benefit. Upon Termination of Employment on
or after the Normal Retirement Age for reasons other than death, the Bank shall
pay to the Executive the benefit described in this Section 2.1 in lieu of any
other benefit under this Agreement.

         (1)      Amount of Benefit. The annual benefit under this Section 2.1
is $68,152. Commencing at the end of the first Payment Year, and each Payment
Year thereafter, the annual benefit shall be increased 3% percent from the
previous Payment Year.

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         (2)      Payment of Benefit. The Bank shall pay the annual benefit to
the Executive in 12 equal monthly installments commencing with the month
following the Executive's Normal Retirement Date, paying the annual benefit to
the Executive for a period of 20 years.

         2.2      Early Termination Benefit. Upon Early Termination, the Bank
shall pay to the Executive the benefit described in this Section 2.2 in lieu of
any other benefit under this Agreement.

         (1)      Amount of Benefit. The benefit under this Section 2.2 is the
Early Termination Annual Benefit. The amount of benefit is determined from the
Executive's actual benefit accrual balance at time of employment termination
(determined by vesting the Executive 100 percent of the actual Accrual Balance
at employment termination). The benefit is determined by calculating a 20-year
fixed annuity from the Accrual Balance, crediting interest on the unpaid balance
at an annual rate of 8 percent, compounded monthly.

         (2)      Payment of Benefit. The Bank shall pay the annual benefit to
the Executive in 12 equal monthly installments commencing with the month
following the Normal Retirement Age, paying the annual benefit to the Executive
for a period of 20 years.

         2.3      Disability Benefit. If the Executive terminates employment due
to Disability prior to Normal Retirement Age, the Bank shall pay to the
Executive the benefit described in this Section 2.3 in lieu of any other benefit
under this Agreement.

         (1)      Amount of Benefit. The benefit under this Section 2.3 is the
Disability Annual Benefit. The amount of this benefit is determined by vesting
the Executive in 100 percent of the actual Accrual Balance at employment
termination. This benefit is determined by calculating a 20-year fixed annuity
from the Accrual Balance, crediting interest on the unpaid balance at an annual
rate of 8 percent, compounded monthly.

         (2)      Payment of Benefit. The Bank shall pay the annual benefit to
the Executive in 12 equal monthly installments commencing with the month
following the Termination of Employment, paying the annual benefit to the
Executive for a period of 20 years.

         2.4      Change of Control Benefit. Upon a Change of Control, followed
within the time periods described below by the Executive's Demotion, or
Termination of Employment for reasons other than death, Disability or
retirement, the Bank shall pay to the Executive the benefit described in this
Section 2.4 in lieu of any other benefit under this Agreement.

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         (1)      Amount of Benefit. The benefit under this Section 2.4 is the
Change of Control Annual Benefit. The amount of this benefit is determined at
the time of Termination of Employment or Demotion as follows:

                  (i)      if the Termination of Employment or Demotion occurs
within twelve (12) months of the Change of Control, by (a) vesting the Executive
100% in the benefit accrual balance, and (b) adding to the accrual balance the
next scheduled three (3) plan year accrual account increases.

                  (ii)     if the Termination of Employment or Demotion occurs
within twenty-four (24) months of the Change of Control, by (a) vesting the
Executive 100% in the benefit accrual balance, and (b) adding to the accrual
balance the next scheduled two (2) plan year accrual account increases.

                  (iii)    if the Termination of Employment or Demotion occurs
within thirty-six (36) months of the Change of Control, by (a) vesting the
Executive 100% in the benefit accrual balance, and (b) adding to the accrual
balance the next scheduled one (1) plan year accrual account increase.

         (2)      Payment of Benefit. The Bank shall pay the annual benefit to
the Executive in 12 equal monthly installments commencing with the month
following the Termination of Employment or Demotion, paying the annual benefit
to the Executive for a period of 20 years.

         2.5      Early Retirement. Notwithstanding an Early Retirement as
defined herein, the benefits payable to the Executive shall not commence until
the Executive reaches Normal Retirement Age.

         (1)      Definition. "Early Retirement" shall mean retirement by the
Executive on the later of: (i) the date on which the Executive reaches the age
of 55, if on such date the Executive has been continuously employed by the Bank
for at least ten (10) years; or (ii) the date on which the Executive has been
continuously employed by the Bank for ten (10) years if the Executive is over
the age of 55 on such date. At Normal Retirement Age, and each Payment Year
thereafter, the annual benefit shall be increased 3% percent from the previous
Payment Year.

         2.6      Excess Parachute Payment. Notwithstanding any provision of
this Agreement to the contrary, the Bank shall not pay any benefit under this
Agreement to the extent the benefit would create an excise tax under the excess
parachute rules of Section 280G of the Code.

SECTION 3 - Death Benefits

         3.1      Death During Active Service. If the Executive dies while in
the active service of the Bank, the Bank shall pay to the Executive's
beneficiary the benefit

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described in this Section 3.1. This benefit shall be paid in lieu of the
benefits under Article 2.

         (1)      Amount of Benefit. The annual benefit under this Section 3.1
is the Normal Retirement Benefit amount described in Section 2.1.1.

         (2)      Payment of Benefit. The Bank shall pay the annual benefit to
the Executive's beneficiary in 12 equal monthly installments commencing with the
month following the Executive's death, paying the annual benefit to the
Executive's beneficiary for a period of 20 years.

         3.2      Death During Payment Period. If the Executive dies after any
Benefit payments have commenced under this Agreement but before receiving all
such payments, the Bank shall pay the remaining benefits to the Executive's
beneficiary at the same time and in the same amounts they would have been paid
to the Executive had the Executive survived.

         3.3      Death After Termination of Employment But Before Payment
Commences. If the Executive is entitled to a Benefit under this Agreement, but
dies prior to the commencement of said benefit payments, the Bank shall pay the
same benefit payments to the Executive's beneficiary that the Executive was
entitled to prior to death except that the benefit payments shall commence on
the first day of the month following the date of the Executive's death.

SECTION 4 - Beneficiaries

         4.1      Beneficiary Designations. The Executive shall designate a
beneficiary by filing a written designation with the Bank. The Executive may
revoke or modify the designation at any time by filing a new designation.
However, designations will only be effective if signed by the Executive and
received by the Bank during the Executive's lifetime. The Executive's
beneficiary designation shall be deemed automatically revoked if the beneficiary
predeceases the Executive, or if the Executive names a spouse as beneficiary and
the marriage is subsequently dissolved. If the Executive dies without a valid
beneficiary designation, all payments shall be made to the Executive's estate.

         4.2      Facility of Payment. If a benefit is payable to a minor, to a
person declared incompetent, or to a person incapable of handling the
disposition of his or her property, the Bank may pay such benefit to the
guardian, legal representative or person having the care or custody of such
minor, incompetent person or incapable person. The Bank may require proof of
incompetence, minority or guardianship as it may deem appropriate prior to
distribution of the benefit. Such distribution shall completely discharge the
Bank from all liability with respect to such benefit.

SECTION 5 - Certain Limitations

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         5.1      Termination for Cause. Notwithstanding any provision of this
Agreement to the contrary, the Bank shall not pay any benefit under this
Agreement if the Bank terminates the Executive's employment for: (i) gross
negligence or gross neglect of duties; (ii) commission of a felony or of a gross
misdemeanor involving moral turpitude; or (iii) fraud, disloyalty, dishonesty or
willful violation of any law or significant Bank policy committed in connection
with the Executive's employment and resulting in an adverse effect on the Bank
or the Holding Company.

         5.2      Suicide or Misstatement. The Bank shall not pay any benefit
under this Agreement if the Executive commits suicide within three years after
the date of this Agreement. In addition, the Bank shall not pay any benefit
under this Agreement if the Executive has made any material misstatement of fact
on an employment application or resume provided to the Bank, or on any
application for any benefits provided by the Bank to the Executive.

SECTION 6 - Claims and Review Procedures

         6.1      Claims Procedure. A Participant or beneficiary ("claimant")
who has not received benefits under the Plan that he or she believes should be
paid shall make a claim for such benefits as follows:

         (1)      Initiation - Written Claim. The claimant initiates a claim by
submitting to the Bank a written claim for the benefits.

         (2)      Timing of Bank Response. The Bank shall respond to such
claimant within 90 days after receiving the claim. If the Bank determines that
special circumstances require additional time for processing the claim, the Bank
can extend the response period by an additional 90 days by notifying the
claimant in writing, prior to the end of the initial 90-day period, that an
additional period is required. The notice of extension must set forth the
special circumstances and the date by which the Bank expects to render its
decision.

         (3)      Notice of Decision. If the Bank denies part or all of the
claim, the Bank shall notify the claimant in writing of such denial. The Bank
shall write the notification in a manner calculated to be understood by the
claimant. The notification shall set forth: (i) the specific reasons for the
denial; (ii) a reference to the specific provisions of the Plan on which the
denial is based; (iii) a description of any additional information or material
necessary for the claimant to perfect the claim and an explanation of why it is
needed; (iv) an explanation of the Plan's review procedures and the time limits
applicable to such procedures, and (v) a statement of the claimant's right to
bring a civil action under ERISA Section 502(a) following an adverse benefit
determination on review.

         6.2      Review Procedure. If the Bank denies part or all of the claim,
the claimant shall have the opportunity for a full and fair review by the Bank
of the denial, as follows:

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         (1)      Initiation - Written Request. To initiate the review, the
claimant, within 60 days after receiving the Bank's notice of denial, must file
with the Bank a written request for review.

         (2)      Additional Submissions - Information Access. The claimant
shall then have the opportunity to submit written comments, documents, records
and other information relating to the claim. The Bank shall also provide the
claimant, upon request and free of charge, reasonable access to, and copies of,
all documents, records and other information relevant (as defined in applicable
ERISA regulations) to the claimant's claim for benefits.

         (3)      Considerations on Review. In considering the review, the Bank
shall take into account all materials and information the claimant submits
relating to the claim, without regard to whether such information was submitted
or considered in the initial benefit determination.

         (4)      Timing of Bank Response. The Bank shall respond in writing to
such claimant within 60 days after receiving the request for review. If the Bank
determines that special circumstances require additional time for processing the
claim, the Bank can extend the response period by an additional 60 days by
notifying the claimant in writing, prior to the end of the initial 60-day
period, that an additional period is required. The notice of extension must set
forth the special circumstances and the date by which the Bank expects to render
its decision.

         (5)      Notice of Decision. The Bank shall notify the claimant in
writing of its decision on review. The Bank shall write the notification in a
manner calculated to be understood by the claimant. The notification shall set
forth: (i) the specific reasons for the denial; (ii) a reference to the specific
provisions of the Plan on which the denial is based; (iii) a statement that the
claimant is entitled to receive, upon request and free of charge, reasonable
access to, and copies of, all documents, records and other information relevant
(as defined in applicable ERISA regulations) to the claimant's claim for
benefits, and (iv) a statement of the claimant's right to bring a civil action
under ERISA Section 502(a).

SECTION 7 - Amendments and Termination

         7.1      This Agreement may be amended or terminated only by a written
agreement signed by the Bank and the Executive.

         7.2      Notwithstanding Section 7.1, the Bank may amend or terminate
this Agreement at any time if, pursuant to legislative, judicial or regulatory
action, continuation of the Agreement would (i) cause benefits to be taxable to
the Executive prior to actual receipt, or (ii) result in significant financial
penalties or other significantly detrimental ramifications to the Bank or the
Holding Company, other than the financial impact of paying the benefits.

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SECTION 8 - Status as an Unsecured General Creditor.

         8.1      Notwithstanding anything contained herein to the contrary: (i)
the Executive shall have no legal or equitable rights, interests or claims in or
to any specific property or assets of the Bank as a result of this Agreement;
(ii) none of the Bank's assets shall be held in or under any trust for the
benefit of the Executive or held in any way as security for the fulfillment of
the obligations of the Bank under this Agreement; (iii) all of the Bank's assets
shall be and remain the general unpledged and unrestricted assets of the Bank;
(iv) the Bank's obligation under this Agreement shall be that of an unfunded and
unsecured promise by the Bank to pay money in the future; and (v) the Executive
shall be an unsecured general creditor with respect to any benefits which may be
payable under the terms of this Agreement. Notwithstanding subparagraphs (i)
through (v) above, the Bank and the Executive acknowledge and agree that, in the
event of a Change in Control, upon request of the Executive, or in the Bank's
discretion if the Executive does not so request and the Bank nonetheless deems
it appropriate, the Bank shall establish, concurrent with this agreement, a
Rabbi Trust or multiple Rabbi Trusts (the "Trust" or "Trusts") upon such terms
and conditions as the Bank, in its sole discretion, deems appropriate and in
compliance with applicable provisions of the Code, in order to permit the Bank
to make contributions and/or transfer assets to the Trust or Trusts to discharge
its obligations pursuant to this Agreement. The principal of the Trust or Trusts
and any earnings thereon shall be held separate and apart from other funds of
the Bank to be used exclusively for discharge of the Bank's obligations pursuant
to this Agreement and shall continue to be subject to the claims of the Bank's
general creditors until paid to the Executive in such manner and at such times
as specified in this Agreement.

         8.2      Bank reserves the right to determine, in its sole and absolute
discretion, whether, to what extent and by what method, if any, to provide for
the payment of the amounts which may be payable to the Executive, under the
terms of this Agreement. In the event that the Bank elects to fund this
Agreement, in whole or in part, through the use of life insurance or annuities,
or both, the Bank shall determine the ownership and beneficial interests of any
such policy of life insurance or annuity. The Bank further reserves the right,
in its sole and absolute discretion, to terminate any such policy, and any other
devise used to fund its obligations under this Agreement, at any time, in whole
or in part. Consistent with Section 8.1 above, the Executive shall have no
right, title or interest in or to any funding source or amount utilized by the
Bank pursuant to this Agreement, and any such funding source or amount shall not
constitute security for the performance of the Bank's obligations pursuant to
this Agreement. In connection with the foregoing, the Executive agrees to
execute such documents and undergo such medical examinations or tests which the
Bank may request and which may be reasonably necessary to facilitate any funding
for this Agreement including, without limitation, the Bank's acquisition of any
policy of insurance or annuity.

         8.3      Notwithstanding any other provision of the Agreement, the
Board of Directors of the Bank or the Holding Company may, its sole and absolute
discretion: (i)

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accelerate the payment of the amounts due under the terms of this Agreement,
provided that the Executive consents to the revised payout terms determined
appropriate by the Board of Directors; (ii) modify other terms or conditions of
the Agreement, as the Board of Directors deems necessary or appropriate, in
response to changes in legislation, to rules, regulations or rulings issued
under the Internal Revenue Code, or to other similar events having a substantial
impact on the costs and benefits to the Bank of its obligations under the
Agreement, provided that the Executive shall receive a substantially equivalent
benefit in the event that a benefit existing under the Agreement is canceled as
a result of such modification.

SECTION 9 - Miscellaneous

         9.1      Binding Effect. This Agreement shall bind the Executive and
the Bank, and their beneficiaries, survivors, executors, successors,
administrators and transferees.

         9.2      No Guarantee of Employment. This Agreement is not an
employment policy or contract. It does not give the Executive the right to
remain an employee of the Bank, nor does it interfere with the Bank's right to
discharge the Executive. It also does not require the Executive to remain an
employee nor interfere with the Executive's right to terminate employment at any
time.

         9.3      Non-Transferability. Benefits under this Agreement cannot be
sold, transferred, assigned, pledged, attached or encumbered in any manner. In
particular, the Executive shall have no power or right to transfer, assign,
anticipate, hypothecate, modify or otherwise encumber any part or all of the
amounts payable hereunder, nor, prior to payment in accordance with the terms of
this Agreement, shall any portion of such amounts be: (i) subject to seizure by
any creditor of the Executive, by a proceeding at law or in equity, for the
payment of any debts, judgments, alimony or separate maintenance obligations
which may be owed by the Executive; or (ii) transferable by operation of law in
the event of bankruptcy, insolvency or otherwise. Any such attempted assignment
or transfer shall be void.

         9.4      Reorganization. This Agreement shall be binding upon and inure
to the benefit of the Executive and the Bank. Accordingly, the Bank shall not
merge or consolidate into or with another corporation, or reorganize or sell
substantially all of its assets to another corporation, firm or person, unless
and until such succeeding or continuing corporation, firm or person agrees to
assume and discharge the obligations of the Bank under this Agreement. In the
alternative, the Holding Company may agree to assume and discharge the
obligation of the Bank under this Agreement. Upon the occurrence of such event,
the term "Bank" as used in this Agreement shall be deemed to refer to such
surviving or successor firm, person, entity or corporation, or the Holding
Company, as the case may be.

         9.5      Tax Withholding. The Bank shall withhold any taxes that are
required to be withheld from the benefits provided under this Agreement.

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         9.6      Applicable Law. The laws of the State of Oregon, other than
those laws denominated choice of law rules, federal law in the case of
preemption, and where applicable, the rules and regulations of any regulatory
agency or governmental authority having jurisdiction over the Bank or the
Holding Company, shall govern the validity, interpretation, construction and
effect of this Agreement.

         9.7      Unfunded Arrangement. The Executive and beneficiary are
general unsecured creditors of the Bank for the payment of benefits under this
Agreement. The benefits represent the mere promise by the Bank to pay such
benefits. The rights to benefits are not subject in any manner to anticipation,
alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or
garnishment by creditors. Any insurance on the Executive's life is a general
asset of the Bank to which the Executive and beneficiary have no preferred or
secured claim.

         9.8      Entire Agreement. This Agreement supersedes any and all other
agreements, either oral or in writing, between the parties with respect to the
subject matter of this Agreement and contains all of the covenants and
agreements between the parties with respect thereto. Each party to this
Agreement acknowledges that no other representations, inducements, promises, or
agreements, oral or otherwise, have been made by any party, or anyone acting on
behalf of any party, which are not set forth herein, and that no other
agreement, statement, or promise not contained in this Agreement shall be valid
or binding on either party. No rights are granted to the Executive by virtue of
this Agreement other than those specifically set forth herein.

         9.9      Administration. The Bank shall have powers which are necessary
to administer this Agreement, including but not limited to: (i) establishing and
revising the method of accounting for the Agreement; (ii) maintaining a record
of benefit payments; (iii) establishing rules and prescribing any forms
necessary or desirable to administer the Agreement; and (iv) interpreting the
provisions of the Agreement.

         9.10     Named Fiduciary. The Bank shall be the named fiduciary and
plan administrator under this Agreement. It may delegate to others certain
aspects of the management and operational responsibilities including the
employment of advisors and the delegation of ministerial duties to qualified
individuals.

         9.11     Paragraph Headings. The paragraph headings used in this
Agreement are for convenience only, and shall not affect or be used in
connection with the interpretation of this Agreement.

         9.12     No Strict Construction. The language used in this Agreement
shall be deemed to be the language chosen by the parties hereto to express their
mutual intent, and no rule of strict construction will be applied against any
person.

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         9.13     Opportunity To Consult With Independent Advisors. The
Executive acknowledges that he or she has been afforded the opportunity to
consult with independent advisors of his choosing including, without limitation,
accountants or tax advisors and counsel regarding both the benefits granted to
him under the terms of this Agreement and the (i) terms and conditions which may
affect the Executive's right to these benefits and (ii) personal tax effects of
such benefits including, without limitation, the effects of any federal or state
taxes, Section 280G of the Code, and any other taxes, costs, expenses or
liabilities whatsoever related to such benefits, which in any of the foregoing
instances the Executive acknowledges and agrees shall be the sole responsibility
of the Executive notwithstanding any other term or provision of this Agreement.
The Executive further acknowledges and agrees that the Bank shall have no
liability whatsoever related to any such personal tax effects or other personal
costs, expenses, or liabilities applicable to the Executive and further
specifically waives any right for himself or herself, and his or her heirs,
beneficiaries, legal representatives, agents, successor and assign to claim or
assert liability on the part of the Bank related to the matters described above
in this Section 9.13. The Executive further acknowledges that he or she has
read, understands and consents to all of the terms and conditions of this
Agreement, and that he or she enters into this Agreement with a full
understanding of its terms and conditions.

         9.14     Arbitration of Disputes. All claims, disputes and other
matters in question arising out of or relating to this Agreement or the breach
or interpretation thereof, other than those matters which are to be determined
by the Bank in its sole and absolute discretion, shall be resolved by binding
arbitration before a representative member, selected by the mutual agreement of
the parties, of the Judicial Arbitration and Mediation Services, Inc. ("JAMS"),
located in Portland, Oregon. In the event JAMS is unable or unwilling to conduct
the arbitration provided for under the terms of this Paragraph, or has
discontinued its business, the parties agree that a representative member,
selected by the mutual agreement of the parties of the American Arbitration
Association ("AAA") located in Portland, Oregon, shall conduct the binding
arbitration referred to in this Paragraph. Notice of the demand for arbitration
shall be filed in writing with the other party to this Agreement and with JAMS
(or AAA, if necessary). In no event shall the demand for arbitration be made
after the date when institution of legal or equitable proceedings based on such
claim, dispute or other matter in question would be barred by the applicable
statute of limitations. The arbitration shall be subject to such rules of
procedure used or established by JAMS, or if there are none, the rules of
procedure used or established by AAA. Any award rendered by JAMS or AAA shall be
final and binding upon the parties, and as applicable, their respective heirs,
beneficiaries, legal representatives, agents, successors and assigns, and may be
entered in any court having jurisdiction thereof. Any arbitration hereunder
shall be conducted in The Dalles, Oregon, unless otherwise agreed to by the
parties.

         9.15     Attorneys' Fees. In the event of any arbitration or litigation
concerning any controversy, claim or dispute between the parties hereto, arising
out of or relating to this Agreement or the breach hereof, or the interpretation
hereof, the prevailing party shall

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be entitled to recover from the losing party reasonable expenses, attorneys'
fees and costs incurred in connection therewith or in the enforcement or
collection of any judgment or award rendered therein. The "prevailing party"
means the party determined by the arbitrator(s) or court, as the case may be, to
have most nearly prevailed, even if such party did not prevail in all matters,
not necessarily the one in whose favor a judgment is rendered. 9.16 Notice. Any
notice required or permitted of either the Executive or the Bank under this
Agreement shall be deemed to have been duly given, if by personal delivery, upon
the date received by the party or its authorized representative; if by
facsimile, upon transmission to a telephone number previously provided by the
party to whom the facsimile is transmitted as reflected in the records of the
party transmitting the facsimile and upon reasonable confirmation of such
transmission; and if by mail, on the third day after mailing via U.S. first
class mail, registered or certified, postage prepaid and return receipt
requested, and addressed to the party at the address given below for the receipt
of notices, or such changed address as may be requested in writing by a party.

                  If to the Bank:                    Columbia River Bank
                                                     420 East Third Street
                                                     The Dalles, Oregon 97058

                  If to the Executive:               c/o Columbia River Bank
                                                     PO Box 1050
                                                     The Dalles, Oregon 97058

         9.17.    Nonwaiver. The failure of either party to enforce at any time
or for any period of time any one or more of the terms or conditions of this
Agreement shall not be a waiver of such term(s) or condition(s) or of that
party's right thereafter to enforce each and every term and condition of this
Agreement.

         9.18     Partial Invalidity. If any terms, provision, covenant, or
condition of this Agreement is determined by an arbitrator or a court, as the
case may be, to be invalid, void, or unenforceable, such determination shall not
render any other term, provision, covenant or condition invalid, void or
unenforceable, and the Agreement shall remain in full force and effect
notwithstanding such partial invalidity.

         9.19     Modifications. Any modification of this Agreement shall be
effective only if it is in writing and signed by each party or such party's
authorized representative.

         IN WITNESS WHEREOF, the Executive and the Bank have signed this
Agreement.

COLUMBIA RIVER BANK

By:________________________________
   Chairman of the Board

___________________________________
Executive

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                               COLUMBIA RIVER BANK
                     EXECUTIVE SALARY CONTINUATION AGREEMENT

                             BENEFICIARY DESIGNATION

Executive: ______________

         I designate the following as beneficiary of any death benefits under
this Agreement:

Primary:
________________________________________________________________________________

________________________________________________________________________________

Contingent:
________________________________________________________________________________

________________________________________________________________________________

         (Note: To name a trust as beneficiary, please provide the name of the
trustee(s) and the exact name and date of the trust agreement.)

         I understand that I may change these beneficiary designations by filing
a new written designation with the Bank. I further understand that the
designations will be automatically revoked if the beneficiary predeceases me,
or, if I have named my spouse as beneficiary and our marriage is subsequently
dissolved.

Signature _____________________________

Date __________________________________

Received by the Bank this ______ day of _________________, 200_.

By ____________________________________

Title __________________________________

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