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EXHIBIT 10.15.6

 
SALARY CONTINUATION AGREEMENT  

    THIS AGREEMENT is made this 10th day of January, 1996 by and between Valle de Oro Bank, N.A. (the "Company"), and William Ehlen (the "Executive").

  INTRODUCTION  

    To encourage the Executive to remain an employee of the Company, the Company is willing to provide salary continuation benefits to the Executive. The Company
will pay the benefits from its general assets.

  AGREEMENT  

    The Executive and the Company agree as follows:

  ARTICLE 1  

  DEFINITIONS  

    1.1 Definitions. Whenever used in this Agreement, the following words and phrases shall have the meanings specified:

    1.1.1  "Change of Control" means

    (i)  A
change in the composition of the Company's Board, as a result of which fewer than two-thirds of the incumbent directors are directors who either
(A) had been directors of the Company 24 months prior to such change or (B) were elected, or nominated for election, to the Board with the affirmative votes of at least a majority
of the directors who had been directors of the Company 24 months prior to such change and who were still in office at the time of the election or nomination;

    (ii) Any
"person" (as such term is used in sections 13(d) and 14(d) of the Exchange Act) through the acquisition or aggregation of securities is or becomes the
beneficial owner, directly or indirectly, of securities of the Company representing 26 percent or more of the combined voting power of the Company's then outstanding securities ordinarily (and
apart from rights accruing under special circumstances) having the right to vote at elections of directors (the "Base Capital Stock"); except that any change in the relative beneficial ownership of
the Company's securities by any person resulting solely from a reduction in the aggregate number of outstanding shares of Base Capital Stock, and any decrease thereafter in such person's ownership of
securities, shall be disregarded until such person increases in any manner, directly or indirectly, such person's beneficial ownership of any securities of the Company.

    1.1.2  "Code" means the Internal Revenue Code of 1986, as amended. References to a Code section shall be
deemed to be to that section as it now exists and to any successor provision.

    1.1.3  "Disability" means, if the Executive is covered by a Company-sponsored disability insurance
policy, total disability as defined in such policy without regard to any waiting period. If the Executive is not covered by such a policy, Disability means the Executive suffering a sickness, accident
or injury which, in the judgment of a physician satisfactory to the Company, prevents the Executive from performing
substantially all of the Executive's normal duties for the Company. As a condition to any benefits, the Company may require the Executive to submit to such physical or mental evaluations and tests as
the Company's Board of Directors deems appropriate.

    1.1.4  "Normal Retirement Date" means the Executive attaining age 62.

    1.1.5  "Termination of Employment" means the Executive's ceasing to be employed by the Company for any
reason whatsoever, voluntary or involuntary, other than by reason of an approved leave of absence.

    1.1.6  "Plan Year" means twelve months ending on December 31.

  ARTICLE 2  

  LIFETIME BENEFITS  

    2.1 Normal Retirement Benefit. If the Executive terminates employment on or after the Normal Retirement Date for reasons
other than death, the Company shall pay to the Executive the benefit described in this Section 2.1.

    2.1.1  Amount of Benefit. The benefit under this Section 2.1 is $108,000 per year ($9,000 per
month).

    2.1.2  Payments of Benefit. The Company shall pay the benefit in monthly installments to the Executive
on the first day of each month commencing with the month following the Retirement Date and continuing for 179 additional months.

    2.2 Termination Benefit Before Age 62. If the Executive terminates employment for any reason prior to attaining
age 62, the Company shall pay to the Executive the benefit described in this Section 2.2.

    2.2.1  Amount of Benefit. The monthly benefit under this Section 2.2 is the monthly benefit which
is payable on an actuarial basis from the lump sum amount set forth in Schedule A based on the date of the Executivels Termination of Employment.

    2.2.2  Payment of Benefit. The Company shall pay the benefit to the Executive on the first day of each
month commencing with the month following the Executive's Normal Retirement Date and continuing for 179 additional months.

    2.2.3  Present Value Calculation. In determining the monthly benefit under Section 2.2.1 from
Schedule A, the interest factor shall be the yield for ten-year U.S. Treasury Notes, as reported by the Federal Reserve Bank and published in the West Coast edition of the
Wall Street Journal, plus 250 basis points. If this index should cease to be published, the index shall be comparable.

    2.3 Termination by the Company on Account of or After a Change of Control. Notwithstanding anything contained herein to
the contrary, in the event: (i) the Executive's employment with the Company is terminated by the Company within two years of or by reason of a Change of Control or (ii) by reason of the
Company's actions any adverse and material change occurs in the scope of the Executive's position, responsibilities, duties, salary, benefits, or location of employment after a Change of Control
occurs; or (iii) the Company causes an event to occur which reasonably constitutes or results in a demotion, a significant diminution of responsibilities or authority, or a constructive
termination (by forcing a resignation or otherwise) of the Executive's employment after a Change of Control occurs, then the Company shall pay to the Executive the benefit described in this
Section 2.3, in lieu of any other benefit under this Agreement.

    2.3.1  Amount of Benefit. The annual benefit under this Section 2.3 shall be $108,000 ($9,000 per
month). There shall be no actuarial reduction for payment prior to Executive's Normal Retirement Date.

    2.3.2  Payment of Benefit. The Company shall pay the benefit to the Executive on the first day of each
month commencing with the month following the date of the event triggering this Section 2.3 benefit and continuing for 179 additional months.

    2.3.3  Requirement for Company Funding. In the event of a termination pursuant to Section 2.3,
the Company shall immediately pay such amounts as are necessary to provide this benefit under policies attached to this Plan. The Company shall also reflect such additional liability on its balance
sheet.

2

  ARTICLE 3  

  DEATH BENEFITS  

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

    3.1.1  Amount of Benefit. The benefit under Section 3.1 is the lifetime benefit that would have
been paid to the Executive under Section 2.1 calculated as if the date of the Executive's death were the Normal Retirement Date.

    3.1.2  Payment of Benefit. The Company shall pay the benefit to the Beneficiary on the first day of each
month commencing with the month following the Executive's death and continuing for 179 additional months.

    3.2 Death During Benefit Period. If the Executive dies after benefit payments have commenced under this Agreement but
before receiving all such payments, the Company 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.

  ARTICLE 4  

  BENEFICIARIES  

    4.1 Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the
Company. 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 accepted by the Company
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 surviving spouse, if any, and, if
none, to the Executive's surviving children and the descendants of any deceased child by right of representation, and if no children or descendants survive, 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 Company 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 Company may require proof of incompetency, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Such distribution shall completely
discharge the Company from all liability with respect to such benefit.

  ARTICLE 5  

  GENERAL LIMITATIONS  

    Notwithstanding any provision of this Agreement to the contrary, the Company shall not pay any benefit under this Agreement.

    5.1 Excess Parachute Payment. To the extent the benefit would be an excess parachute payment under Section 280G
of the Code.

    5.2 Termination for Cause. If the Company terminates the Executive's employment for:

    5.2.1  Gross
negligence or gross neglect of duties;

    5.2.2  Commission
of a felony or of a gross misdemeanor involving moral turpitude; or

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    5.2.3  Fraud,
disloyalty,dishonesty or willful violation of any law or significant Company policy committed in connection with the Executive's
employment and resulting in an adverse effect on the Company.

    5.3 Suicide. No benefits shall be payable if the Executive commits suicide within two years after the date of this
Agreement, of if the Executive has made any material misstatement of fact on any application for life insurance purchased by the Company.

  ARTICLE 6  

  CLAIMS AND REVIEW PROCEDURES  

    6.1 Claims Procedure. The Company shall notify the Executive's beneficiary in writing, within ninety (90) days of
his or her written application for benefits, of his or her eligibility or non-eligibility for benefits under the Agreement. If the Company determines that the beneficiary is not eligible
for benefits or full benefits, the notice shall set forth (1) the specific reasons for such denial, (2) a specific reference to the provisions of the Agreement on which the denial is
based, (3) a description of any additional information or material necessary for the claimant to perfect his or her claim, and a description of why it is needed, and (4) an explanation
of the Agreement's claims review procedure and other appropriate information as to the steps to be taken if the beneficiary wishes to have the claim reviewed. If the Company determines that there are
special circumstances requiring additional time to make a decision, the Company shall notify the beneficiary of the special circumstances and the date by which a decision is expected to be made, and
may extend the time for up to an additional ninety-day period.

    6.2 Review Procedure. If the beneficiary is determined by the Company not to be eligible for benefits, or if the
beneficiary believes that he or she is entitled to greater or different benefits, the beneficiary shall have the opportunity to have such claim reviewed by the Company by filing a petition for review
with the Company within sixty (60) days after receipt of the notice issued by the Company. Said petition shall state the specific reasons which the beneficiary believes entitle him or her to
benefits or to greater or different benefits. Within sixty (60) days after receipt by the Company of the petition, the Company
shall afford the beneficiary (and counsel, if any) an opportunity to present his or her position to the Company orally or in writing, and the beneficiary (or counsel) shall have the right to review
the pertinent documents. The Company shall notify the beneficiary of its decision in writing within the sixty-day period, stating specifically the basis of its decision, written in a
manner calculated to be understood by the beneficiary and the specific provisions of the Agreement on which the decision is based. If, because of the need for a hearing, the sixty-day
period is not sufficient, the decision may be deferred for up to another sixty-day period at the election of the Company, but notice of this deferral shall be given to the beneficiary.

  ARTICLE 7  

  AMENDMENTS AND TERMINATION  

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

  ARTICLE 8  

  MISCELLANEOUS  

    8.1 Binding Effect. This Agreement shall bind the Executive and the Company, and their beneficiaries, survivors,
executors, administrators and transferees.

    8.2 No Guaranty 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 Company, nor does it interfere with the

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Company'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.

    8.3 Non-Transferability. Benefits under this Agreement cannot be sold, transferred, assigned, pledged,
attached or encumbered in any manner.

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

    8.5 Applicable Law. The Agreement and all rights hereunder shall be governed by the laws of California, except to the
extent preempted by the laws of the United States of America.

    8.6 Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company for the payment
of benefits under this Agreement. The benefits represent the mere promise by the Company 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 Company to which the Executive and beneficiary have
no preferred or secured claim.

    8.7 Determination of Golden Parachute Payments. The determination as to whether a provision of this Agreement must be
limited by the application of the "golden parachute" provisions of §280G of the Internal Revenue Code shall be made by a "Big 6", accounting firm acceptable to the Company and the
Executive. The determination shall be made within 90 days of notice of termination by the Executive, and the accountant's fees shall be paid by the Company.

    8.8 Mediation of Dispute. In the event of a dispute between the Company and the Executive, the dispute shall be
submitted to an independent, private mediator agreeable to both the Company and the Executive. The mediator's fees shall be paid by the Company. The results of the mediation shall be
non-binding unless the parties agree otherwise.

    8.9 Attorney Fees. In the event of a dispute between the Company and the Executive, the attorney fees of each party
shall be borne by the non-prevailing party.

    
IN WITNESS WHEREOF, the Executive and a duly authorized Company officer have signed this Agreement.

	 	 	VALLE DE ORO BANK, N.A.
	 

/s/ WILLIAM EHLEN   
 William Ehlen	 
 	 

By:	 
 	 

/s/ JAMES F. CARROLL   
  Title: Chairman

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  SCHEDULE A  

  PARTICIPANT BALANCE SHEET AND POLICY DATA
 SALARY CONTINUATION PLAN
 VALLE DE ORO BANK, N.A.  

  WILLIAM EHLEN  

  AGE 49, RETIRES AT AGE 62 WITH
 $108,000 ANNUAL BENEFIT,
 FOR 13 YEARS  

	Plan

Year
	 	Accrued

Salary

Continuation

Liability
	 	Plan

Year
	 	Accrued

Salary

Continuation

Liability

	1	 	37,699	 	23	 	433,559
	2	 	78,935	 	24	 	361,662
	3	 	124,039	 	25	 	283,020
	4	 	173,374	 	26	 	197,001
	5	 	227,337	 	27	 	102,913
	6	 	286,362	 	28	 	0
	7	 	350,924	 	 	 	 
	8	 	421,543	 	—post life expectancy—
	9	 	498,786	 	 	 	 
	10	 	583,275	 	29	 	0
	11	 	675,690	 	30	 	0
	12	 	776,774	 	31	 	0
	13	 	887,340	 	32	 	0
	 	 	 	 	33	 	0
	 
 —post retirement—	 
 	 

34	 
 	 

0
	 	 	 	 	35	 	0
	14	 	858,010	 	36	 	0
	15	 	825,929	 	37	 	0
	16	 	790,839	 	38	 	0
	17	 	752,457	 	39	 	0
	18	 	710,474	 	 	 	 
	19	 	664,553	 	 	 	 
	20	 	614,324	 	 	 	 
	21	 	559,384	 	 	 	 
	22	 	499,290	 	 	 	 

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SALARY CONTINUATION AGREEMENT

INTRODUCTION

AGREEMENT

ARTICLE 1

DEFINITIONS

ARTICLE 2

LIFETIME BENEFITS

ARTICLE 3

DEATH BENEFITS

ARTICLE 4

BENEFICIARIES

ARTICLE 5

GENERAL LIMITATIONS

ARTICLE 6

CLAIMS AND REVIEW PROCEDURES

ARTICLE 7

AMENDMENTS AND TERMINATION

ARTICLE 8

MISCELLANEOUS

SCHEDULE A

PARTICIPANT BALANCE SHEET AND POLICY DATA SALARY CONTINUATION PLAN VALLE DE ORO BANK, N.A.

WILLIAM EHLEN

AGE 49, RETIRES AT AGE 62 WITH $108,000 ANNUAL BENEFIT, FOR 13 YEARSPrepared by MERRILL CORPORATION www.edgaradvantage.com

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Exhibit 10.15.7

  EMPLOYMENT AGREEMENT  

    EMPLOYMENT AGREEMENT ("Employment Agreement" or "Agreement") made as of the 1st day of March, 2000 between COMMUNITY FIRST BANKSHARES, INC. ("Company")
and DONALD R. MENGEDOTH ("Executive").

Preliminary Statement

    WHEREAS, the Executive currently is employed as Chairman of the Board, President and Chief Executive Officer of the Company, and has served in those capacities
since the founding of the Company in 1987; and

    WHEREAS,
the parties have agreed that, effective March 1, 2000, the Executive will cease to serve as the Chief Executive Officer of the Company, become Chairman of the
Company's Board of Directors and will serve in that capacity pursuant to the terms of this Employment Agreement; and

    NOW,
THEREFORE, in consideration of the premises, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto,
intending to be legally bound hereby, agree as follows:

    1.  Term of Agreement.  This Agreement shall commence on the date hereof and shall continue in effect for
a term ending on January 1, 2003, except as otherwise provided herein or as may be extended by mutual agreement of the parties prior to such date ("Term").

    2.  Position and Duties.  Except as may otherwise be agreed upon between the Company and the Executive,
the Company agrees to continue to employ the Executive, and the Executive agrees to serve the Company, as Chairman of the Board of Directors, and in that capacity shall serve as an executive officer
and an employee of the Company. The Executive shall render such services to the Company as are customary for such position and in addition shall advise the Board of Directors and/or the Chief
Executive Officer on strategic matters; represent the Company at civic and industry affairs; continue to serve as an officer of the American Bankers Association; participate in business development
activities; and provide such other services as may reasonably be requested by the Board of Directors or Chief Executive Officer of the Company.

    3.  Place of Performance.  In connection with his employment by the Company, the Executive shall, except
as the Executive may otherwise agree, perform his principal activities at the offices of the Company located in Fargo, North Dakota or, if the Executive determines to relocate as provided in
Section 4.7, at offices located in Colorado, subject in either case to travel reasonably required for the Company's business. During the Term, the Company shall provide the Executive with an
appropriately furnished office at one location and secretarial support by one secretary (which may, at the election of the Executive, be provided from Fargo) as the Company and the Executive shall
reasonably agree.

    4.  Compensation and Related Matters.

    4.1  Base Salary.  During the Term, the Company shall pay to the Executive, in
approximately equal installments not less often than twice per month, a base salary of not less than $515,000 per year, in each case as the same may from time-to-time be
increased by the Company's Board of Directors pursuant to customary periodic salary reviews; provided that the Executive's base salary shall be $4,000 per month
for November 2002 and December 2002. All amounts payable to the Executive pursuant to this Agreement shall be paid subject to such reporting and withholding requirements, if any, as may
be imposed by applicable law and applicable Company policy.

    4.2  Incentive Plan.  The Executive shall be eligible to receive bonus payments pursuant to the Company's
Annual Incentive Award Program ("AIP"). The amount received by the Executive pursuant to the AIP for each year during the Term shall not be less than the greater of $200,000 and the highest amount
paid to any other executive officer of the Company with respect to such year,

provided
that no amount shall be paid with respect to any year for which no bonus is paid under the AIP to any other executive officer of the Company and no other executive officer receives any form
of incentive compensation not received to the same extent by the Executive. The Executive's bonus shall be paid to him within ninety days after the end of the fiscal year to which it relates, whether
he remains an employee of the Company at the end of such fiscal year or on the date of payment or not, and shall be prorated for any partial years of service.

    4.3  Stock Options.  All unexercised stock options ("Executive Options") granted to the Executive under
the Company's Restated 1987 Stock Option Plan and its 1996 Stock Option Plan (together, "Option Plans") shall be amended to provide that (i) they shall remain exercisable and shall continue to
vest until the date on which they expire by their own terms without consideration to any provision for earlier termination and (ii) the exercise price of the Executive Options shall be subject
to adjustment from time-to-time so as to equal the lowest exercise price of any stock options granted under the Option Plans at the same time as the Executive Options, subject
to the same terms and conditions as may apply to the reduction of the exercise price of such other options. The parties agree that Exhibit A sets forth a true and accurate summary of the
Executive Options. The Company represents and warrants that (i) the amendments to the Executive Options contemplated hereby have been duly and validly authorized by all necessary corporate
action in respect thereof on the part of the Company and (ii) such amendments shall not conflict with or result in a breach of any provision of the Option Plans. The Executive shall be eligible
for the grant of additional stock options under the Option Plans during the Term at the discretion of the Compensation Committee of the Board of Directors.

    4.4  Employee Benefits.  The Executive shall be entitled to continue to participate in and receive such
employee benefits during the Term on the same basis as other executive officers of the Company.

    4.5  Perquisites.  During the Term, the Executive shall be entitled to receive fringe benefits no less
favorable to the Executive than those provided by the Company to any of its senior officers, but in no case less favorable to the Executive than those received by the Executive at the date hereof.

    4.6  Expenses.  The Company shall promptly reimburse the Executive for all normal
out-of-pocket expenses related to the Company's business actually paid or incurred by him in the performance of his services under this Agreement. The Company and its
subsidiaries shall maintain its memberships in the national and state bankers' associations to which it belongs at the date hereof and the Executive as part of his duties hereunder shall continue to
represent the Company at meetings of such associations unless he elects not to do so.

    4.7  Relocation.  At the Executive's election, he may relocate his residence to Colorado, and he shall be
entitled to the benefits provided under the relocation policy attached hereto as Exhibit B in connection with such relocation with respect to either his Minnesota or North Dakota residence, and
the Company shall also pay a real estate broker's commission with respect to the disposition of the other residence.

    5.  Termination.  The Executive's employment hereunder may be terminated under the following
circumstances (without impairing the Executive's rights under benefit plans and arrangements and the Company's policies and procedures):

    5.1  Termination Upon Death or Permanent Disability.  The Term shall automatically terminate in the event
of the death or permanent disability of the Executive. For purpose of this Agreement, "permanent disability" shall have the meaning and shall be determined in accordance with the long term disability
insurance plan maintained by the Company during the Term.

    5.2  Termination by Company for Cause.  The Company shall have the option to terminate the Term
(a) for cause in the event the Executive engages in grossly negligent conduct or willful misconduct in connection with the execution of his duties hereunder which materially and adversely

2

affects
the Company, after written notice by the Company to the Executive of the specific acts that form the basis for the termination, and (b) for the Executive's material nonperformance of
his duties hereunder, provided the nonperformance continues uncorrected for a period of thirty days after written notice thereof by the Company to the Executive specifically identifying the manner in
which the Company believes the Executive has not performed his duties. For purposes of this Section 5.2, no act, or failure to act, on the Executive's part shall be considered "willful" unless
done, or omitted to be done, by him not in good faith and without reasonable belief that his act or omission was in the best interests of the Company. The Company shall not terminate the Executive
without cause during substantial discussions in contemplation of a "change in control" as defined in the CIC Agreement referred to in Section 11 herein or during the pendency of a transaction
that would constitute such a change in control.

    5.3  Benefits Upon Death or Termination by Company.  In the event the Executive's employment is
terminated under Section 5.1 or the Company terminates the Executive's employment other than for cause pursuant to Section 5.2:

    a.  Within
thirty days after the date of termination, in consideration for a written release signed by the Executive upon termination by the Company other than for
cause or due to permanent disability, releasing the Company and its directors and officers from any and all employment claims the Executive may have, whether known or unknown, arising out of
termination of his employment, other than claims related to the benefits provided hereunder or referenced herein, the Company shall pay the Executive a lump-sum amount equal to
(a) the number of days remaining from the date of termination to the expiration of the Term without regard to the early termination thereof multiplied by (b) (x)the total of
(i) the Executive's then current annual base salary pursuant to Section 4.1 plus (ii) the amount paid to the Executive pursuant to Section 4.2 with respect to the fiscal
year immediately preceding the year in which termination occurs provided that 50% of the Executive's annualized base salary hereunder on the date of termination shall be deemed to be the amount paid
under Section 4.2 with respect to the preceding fiscal year if greater than the amount so paid, divided by (y) 365. In the event the Executive's employment is terminated under
Section 5.1 by reason of disability, and the Executive receives, during the period from the date of termination to the expiration of the Term (without regard to the early termination thereof),
benefits under a long-term disability insurance policy, the premiums for which are paid by the Company (the "Agreement Term Disability Payments") the Executive shall, immediately upon such
receipt, repay to the Company an amount equal to such Agreement Term Disability Payments, less any applicable taxes (at the highest applicable rates) which, the Executive determines in good faith that
he is or will be obligated to pay with respect to the Agreement Term Disability Payments received.

    b.  from
the date of termination through January 1, 2003, the Company shall provide the Executive entirely at the Company's expense, the Company's employee
health, life and disability benefits as though he were still an employee of the Company; provided, however, that if such benefits shall not be payable or provided to the Executive or his dependents,
beneficiaries or estate under the Company's plans because he is no longer an employee of the Company or otherwise, then the Company shall provide coverage, at the Company's expense, that is
substantially comparable to such benefits to the Executive, his dependents, beneficiaries or estate;

    c.  in
addition to, but not in limitation of, the rights which the Executive otherwise may have, all stock options previously granted to the Executive under the Option
Plans shall become exercisable immediately, and the Executive may exercise such options until the expiration of their term as amended pursuant to Section 4.3; and

    d.  the
Company shall (i) make such other and further payments to Executive, his designated beneficiaries and his dependents as may be provided pursuant to the
terms of any

3

employee
benefit plan and other compensation plans, programs and structures, or fringe benefit programs in which Executive is a participant at the time of the termination of his employment with the
Company and (ii) promptly reimburse the Executive for any then unreimbursed out-of-pocket expenses pursuant to Section 4.6.

    The
amounts payable to the Executive under this Section 5.3 shall be treated as liquidated damages to which the Executive is entitled by reason of his past service with the
Company and termination of the Term hereunder, and the Company shall not be entitled to any set-off against, or reduction of, such amounts for any reason whatsoever. Notwithstanding any
other provision of this Agreement, the Executive shall be under no obligation to seek or accept any employment after termination of employment with the Company for any reason.

    5.4  Constructive Discharge.  An involuntary relocation of the Executive from the location contemplated
in Section 3 hereof, a reduction in the base salary and/or benefits of the Executive from those provided for in Section 4 hereof as they may from time to time be in effect, the breach by
the Company of any other provision of this Employment Agreement or failure of the Company's Board of Directors to nominate the Executive for reelection as a director of the Company or to continue the
Executive as the Chairman of the Board, or failure by the shareholders of the Company to continue to elect the Executive to the Board of Directors will be the basis for the Executive's termination of
this Agreement by giving at least 30 days prior notice to the Company and in such event the termination will be treated as a termination by the Company without cause under Section 5.3.

    5.5  Benefits Upon Termination for Cause or Voluntary Termination by Executive.  In the event the Company
properly terminates the Executive's employment under this Agreement for cause pursuant to Section 5.2, the Executive voluntarily resigns from his employment during the Term or the Executive
undertakes full-time employment other than with the Company:

    a.  all
salary shall be prorated as of the date of termination and such prorated amount shall be paid to the Executive;

    b.  all
stock options previously granted to the Executive which are exercisable as of the date of termination, shall continue in effect in accordance with their terms
as amended pursuant to Section 4.3 and those that are not exercisable as of the date of termination shall expire; and

    c.  the
Company shall (i) make such other and further payments to Executive, his designated beneficiaries and his dependents as may be provided pursuant to the
terms of any employee benefit plan and other compensation plans, programs and structures, or fringe benefit programs in which Executive is a participant at the time of the termination of his
employment with the Company and (ii) promptly reimburse the Executive for any then unreimbursed out-of-pocket expenses pursuant to Section 4.6.

    5.6  Rights of Executive's Estate.  If the Executive dies prior to the payment of all amounts due and
owing to him under the terms of this Agreement, such amounts shall be paid to such beneficiary or beneficiaries as the Executive may have last designated in writing filed with the Treasurer of the
Company or, if the Executive has made no beneficiary designation, to the Executive's estate. Such designated beneficiary or the executor of his estate, as the case may be, may exercise all of the
Executive's rights hereunder. If any beneficiary designated by the Executive shall predecease the Executive, the designation of such beneficiary shall be deemed revoked, and any amounts which would
have been payable to such beneficiary shall be paid to the Executive's estate. If any designated beneficiary survives the Executive, but dies before payment of all amounts due hereunder, such payments
shall, unless the Executive has designated otherwise, be made to such beneficiary's estate.

4

 

    6.  Insurance and Indemnification.  The Company shall use its best efforts, without being required to pay
additional premiums, to maintain in effect during the Term and for a period of not less than five years thereafter directors' and officers' liability coverage that provides the Executive with the same
coverage afforded then current Company directors. The Company shall afford the Executive indemnification, contribution and advancement of expenses in connection with claims that may be the subject of
indemnification under the Company's Certificate of Incorporation and Bylaws to the fullest extent permitted for any director or officer of the Company under the Company's Certificate of Incorporation,
Bylaws and applicable provisions of Delaware law.

    7.  Stock.  In the event that the Company adopts a common stock repurchase program, the Company agrees,
subject to compliance with applicable federal securities law requirements, to repurchase up to 400,000 shares of the Company's common stock owned by the Executive at any time or from time to time at
the Executive's election during the pendency of such program at a price equal to the fair market value of such stock at the purchase date based on the average of the high and low sale prices of such
stock on such date.

    8.  Public Statements.  Neither party shall, without the prior consent of the other, issue any press
release or make any written or oral statement for general circulation relating to the Executive's employment with the Company or its subsidiaries or to this Employment Agreement, except any such
release or statement as may be required by law upon the advice of his or its counsel (as to which the disclosing party or parties shall use best efforts to give the nondisclosing party or parties
prior notice and an opportunity to comment) and except any press release or statement substantially similar in content and effect to any press release or statement to which consent has previously been
granted. Each party agrees not to disparage the other in public or private statements, and in general each shall conduct himself or itself in a manner consistent with the other's interest in
maintaining its business, employee and employment relationships and prospects. The Company shall instruct its directors, officers, agents, attorneys and employees to comply with the provisions of this
Section 8 as though they were parties hereto.

    9.  Payments to the Executive.  The Company shall pay the attorneys' fees up to $15,000 and disbursements
incurred by the Executive in connection with the preparation and negotiation of this Agreement. If litigation shall be instituted to enforce or interpret any provision hereof and the Executive shall
prevail, the Company will reimburse the Executive for his reasonable attorneys' fees and disbursements incurred in such proceeding and will pay prejudgment interest at the legal rate then in effect on
any money judgment or award obtained by the Executive in such proceeding.

    10.  Notice.  Any notices, requests, demands and other communications provided for by this Agreement
shall be sufficient if in writing and delivered in person or sent by registered or certified mail, postage prepaid, to the Executive at the last address the Executive has filed in writing with the
Company or, in the case of the Company, at its main office, attention of the Board of Directors.

    11.  Miscellaneous.  No provisions of this Agreement may be modified, waived or discharged unless such
waiver, modification or discharge is agreed to in writing signed by the Executive and the Company acting on authority of the Board of Directors or the Chief Executive Officer. No waiver by either
party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of
similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, expressed or implied, with respect to the subject
matter hereof have been made by either party which are not set forth expressly or referred to in this Agreement, and this Agreement shall supercede any current or prior employment terms, written or
otherwise (other than
the Change in Control Severance Agreement and the Indemnification Agreement referred to below). The validity, interpretation, construction and performance of this Agreement shall be governed by the
laws of the State of Delaware relating to contracts to be performed entirely therein. Nothing contained in this Employment Agreement shall affect the validity of the Change in Control Severance
Agreement between

5

the
Executive and the Company (the "CIC Agreement") and the Indemnification Agreement, which shall remain in full force and effect in accordance with their terms throughout the Term to the extent that
similar agreements remain in effect with any other executive officer of the Company. Anything in this Employment Agreement to the contrary notwithstanding (including without limitation
Section 14 hereof), this Employment Agreement shall terminate and Executive shall not be entitled to the benefits under Section 5.3(a), (b) and (c) or the second sentence
of Section 9 in the event Executive receives the benefits specified in Section 7(c)(i) of the CIC Agreement.

    12.  Validity.  The invalidity or unenforceability of any provision or provisions of this Agreement shall
not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.

    13.  Headings.  The headings of the paragraphs herein are for convenience only and shall have no
significance in the interpretation of this Agreement.

    14.  Bind and Inure.  This Agreement shall be binding upon and inure to the benefit of the parties hereto
and their heirs, personal representatives and successors, including any successor of the Company by reason of any dissolution, merger, consolidation, sale of assets or other reorganization of the
Company.

    15.  Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be
deemed to be an original but all of which together will constitute one and the same instrument.

    IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed and its seal to be affixed hereunto by its officer thereunto duly authorized, and Executive has signed this
Agreement, as of the day and year first above written.

	 	 	COMMUNITY FIRST BANKSHARES, INC.
	 

 	 
 	 

By:	 

/s/ MARK A. ANDERSON   
 Mark A. Anderson
 President and Chief Executive Officer
	 

 	 
 	 

By:	 

/s/ DONALD R. MENGEDOTH   
 Donald R. Mengedoth
 Executive

6

  EXHIBIT A
   STOCK OPTIONS  

	Grant Date

	 	Exercise Price
	 	Number of Shares
	 	Term

	02/06/96	 	$	10.6250	 	5,992	 	5 years
	02/04/97	 	 	14.2500	 	16,000	 	5 years
	02/03/98	 	 	24.8750	 	30,000	 	5 years
	02/02/99	 	 	19.5625	 	60,000	 	10 years
	02/08/00	 	 	14.0000	 	90,000	 	10 years

7

 

  EXHIBIT B
   [COMMUNITY FIRST LETTERHEAD]  

	Date:	 	July 15, 1999
	 

To:	 
 	 

CFB Bank Presidents

Senior Management
	 

Re:	 
 	 
 Relocation Expense Reimbursement Process

    Attached
is a current version of our Relocation Expense Report form. This form is to be completed by the employee and sent directly to Accounting and
Reporting. The reimbursement will be added to the employee's pay, rather than being paid by a separate check. This will allow us to compute and pay the taxes on the
non-deductible expenses in a timely manner.

    It
is important that you and your new employee agree as to what expenses and how much will be reimbursed as part of the relocation package. You should review and approve the expenses
being submitted for reimbursement. Your signature is to verify that the employee is eligible to be reimbursed for the expenses being reported.

    The
following are the suggested guidelines for reimbursement:

	Salary Grades 9 to 13 (Exempt)	 	Actual expenses up to a maximum of 4% of base salary
	 

Salary Grades 14 to 16	 
 	 

Actual expenses up to a maximum of 15% of base salary
	 

Salary Grades 17 and up	 
 	 

See Relocation Guidelines Worksheet

    We
have also signed corporate contracts with three moving companies which provide us with some significant discounts on moving, insurance, and storage costs. Please encourage the
employee to contact one or more of these companies to obtain an estimate of moving costs. The customer representatives for the companies are:

	Allied	 	Atlas	 	North American
	Karen Schoepke

Union Storage & Transfer

4275 Main Avenue

Fargo, ND 58108

1-800-437-8027	 	Lynn Roth

Ace Worldwide

2929 Long Lake Road

Roseville, MN 55113

1-800-333-6669	 	Jennifer Emerson

Fettes Moving & Storage

3939 7th Ave. NW

Fargo, ND 58102

1-800-325-3696

    Please
call Harriette McCaul, Corporate Human Resources, if you have any questions (701-298-5706).

  Relocation Guideline Worksheet  

    This worksheet provides general guidelines on relocation reimbursements. It is intended to help achieve some level of consistency in the treatment of
transferees and yet allow sufficient flexibility to consider individual needs and related factors in the employment offer. Deviations from the guidelines need approval from the appropriate supervisor.
These guidelines apply to the majority of exempt positions only.

    If
reimbursement is optional, you may choose to provide no coverage, partial coverage, or coverage up to the maximums stated in the item description. Relocation items in these
guidelines should be discussed with the Senior Vice President of Human Resources, at (701) 298-5706 prior to making commitments to reimburse. Expenses are charged to the CFB affiliate the employee
transfers to.

	1.
	Completing
an Employee Relocation Expense Report correctly will be critical in assuring that timely and accurate taxes are paid and reported for your personal income tax records.
You must use an Employee Relocation Expense
Report, not an Employee Expense Report to report relocation.

	2.
	Community
First will "gross up" (28% Federal, FICA, and the applicable state rate) and pay the taxes on your behalf for non-deductible expenses with the exception of any commission
paid to the employee for direct sale of his/her home. Please refer to IRS publication 521, Moving Expenses, for details of deductible and non-deductible moving expenses.

	3.
	Supervisor's
signature is required for reimbursement of all expenses.

	 
	 	 
	 	 
	 	 
	 	Generally Available Coverage

	Item

	 	Item Description
	 	Existing
	 	New Hires

	 
 Employee Expenses
	 

Housing Search	 
 	 

Expenses for two trips for an employee and spouse to locate housing at the new location will be reimbursed and includes transportation, lodging, meals and child care expenses for a maximum of five days.	 
 	 

Yes	 
 	 

Yes
	 

Shipment of Household Goods	 
 	 

Community First will provide full-value transit insurance and full coverage of expenses incurred in packing, transporting, and unpacking normal household goods and personal effects.	 
 	 

Yes	 
 	 

Yes
	 

Storage of Household Goods	 
 	 

Maximum of thirty (30) days	 
 	 

Optional	 
 	 

Optional
	 

Travel to New Location	 
 	 

Expenses will be reimbursed for transportation, meals and lodging for up to three days of travel for the employee and family when moving to a new location. Transport of a second car will be reimbursed at the current IRS maximum mileage rate, or when
necessary, shipment of the car will be paid.	 
 	 

Yes	 
 	 

Yes
	 

Temporary Housing	 
 	 

Temporary living expenses (including lodging and meals) for an employee and the employee's family at the new location will be reimbursed for a maximum of thirty (30) days.	 
 	 

Yes	 
 	 

Yes
	 

Commuting	 
 	 

Limited to every other week-end for two months	 
 	 

Yes	 
 	 

Optional
	 

	 
 	 

	 
 	 

	 
 	 

	 

 	 
 	 

 	 
 	 

 	 
 	 

 	 
 	 

 	 
 	 

 

	 
 Property Disposal
	 

Sale of Primary Residence	 
 	 

 	 
 	 

 	 
 	 

 	 
 	 

 
	 

Direct Sale Option	 
 	 

•	 
 	 

appraisal—limit of one	 
 	 

Yes	 
 	 

Yes
	 

 	 
 	 

 	 
 	 

•	 
 	 

broker's commission—maximum 7%	 
 	 

Yes	 
 	 

Yes
	 

 	 
 	 

 	 
 	 

•	 
 	 

property inspection—only when required	 
 	 

Yes	 
 	 

Yes
	 

 	 
 	 

 	 
 	 

•	 
 	 

mortgage prepayment penalties	 
 	 

Yes	 
 	 

Optional
	 

 	 
 	 

 	 
 	 

•	 
 	 

title search—full amount	 
 	 

Yes	 
 	 

Yes
	 

 	 
 	 

 	 
 	 

•	 
 	 

recording fees—full amount	 
 	 

Yes	 
 	 

Yes
	 

 	 
 	 

 	 
 	 

•	 
 	 

advertising—$200 maximum	 
 	 

Yes	 
 	 

Optional
	 

	 
 	 

	 
 	 

	 
 	 

	 
 New Home Purchase
	 

Purpose of New Property*	 
 	 

 	 
 	 

 	 
 	 

 	 
 	 

 
	 

•	 
 	 

Appraisal/Credit Report/Survey	 
 	 

if requested	 
 	 

Yes	 
 	 

Yes
	 

•	 
 	 

Placement/Origination Fee	 
 	 

maximum of one percent	 
 	 

Yes	 
 	 

Yes
	 

•	 
 	 

Recorded Fees	 
 	 

full amount	 
 	 

Yes	 
 	 

Yes
	 

•	 
 	 

Title Insurance/Option	 
 	 

full amount	 
 	 

Yes	 
 	 

Optional
	 

	 
 	 

	 
 	 

	 
 	 

	 
 Additional Services
	 

Lease Settlement	 
 	 

Maximum of three months (renters only)	 
 	 

Yes	 
 	 

Optional
	 

Relocation Allowance	 
 	 

Five percent of salary	 
 	 

Yes	 
 	 

No
	 

	 
 	 

	 
 	 

	 
 	 

	*
	Regulation
O may supersede these benefits

QuickLinks

EMPLOYMENT AGREEMENT

EXHIBIT A STOCK OPTIONS

EXHIBIT B [COMMUNITY FIRST LETTERHEAD]

Relocation Guideline Worksheet

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