Document:

Form of Restricted Stock Agreement

 EXHIBIT 10.3 
 COLUMBIA BANKING SYSTEM, INC. 
 RESTRICTED STOCK AGREEMENT 
 THIS RESTRICTED STOCK AGREEMENT (“Agreement”) is entered into by and between Columbia Banking System, Inc. (“Bank”) and
                         (“Grantee”). 
  

	1.	Basis Terms of Award 

  

			
	 Number of Shares of Restricted
 Stock Subject to the
Award:
	 	______________________________
		
	 Fair Market Value on Date of
 Award of Shares of
Restricted Stock
	 	______________________________
		
	 Amount Required to be Paid
 for Shares of Restricted
Stock:
	 	$0.00
		
	Date of Award:	 	______________________________

  

	2.	Bank hereby awards to Grantee the number of shares of Restricted Stock described above (“Award”). 

  

	3.	The Award is made under the Amended and Restated Stock Option and Equity Compensation plan of Columbia Banking System, Inc. (the “Plan”), a copy of which has been provided
to Grantee. The terms and conditions of the Plan are hereby incorporated into this Agreement by this reference. In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Agreement, the former shall
govern. Capitalized terms used in this Agreement that are not defined herein shall have the meaning given to such terms in the Plan. 

  

 1 

	4.	Vesting Schedule 

 Except as otherwise provided in the
Plan, shares of Restricted Stock subject to this Award shall be forfeited to Bank for no consideration immediately after Grantee fails to maintain Continuous Status as an Employee, to the extent such shares are not then Vested in accordance with the
following vesting scheduled: 
  

			
	 If Grantee maintains Continuous Status
as an Employee on the following
anniversary date
after the Date of Award

	  	 Then the following percent of the
number of shares of Restricted Stock
subject to the Award shall Vest
*

		
	                        1st	  	                        25%
		
	                        2nd	  	                        25%
		
	                        3rd	  	                        25%
		
	                        4th	  	                        25%

  

	*	Rounded up in each case to the nearest whole number. But in no event shall Grantee have the right to acquire hereunder, over the entire vesting period, more than the total number of
shares of Restricted Stock subject to the Award, as described in paragraph 1. 

  

	5.	Grantee shall have all of the rights of a shareholder with respect to shares of Restricted Stock subject to this Award. 

  

	6.	Shares of Restricted Stock subject to this Award may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner, other than by will or by the laws of
descent or distribution, prior to the time such shares Vest. 

  

	7.	Shares of Restricted Stock subject to this Award shall not be issued, unless the issuance and delivery of such shares shall comply with all relevant provisions of law, including,
without limitation, all securities laws, rules and regulations, and the requirements of any stock exchange upon which the Restricted Stock may then be listed. Issuance of shares of Restricted Stock is further subject to the approval of counsel for
Bank with respect to such compliance. 

  

	8.	Bank, in its sole discretion, may take any actions reasonably believed by it to be required to comply with any local, state, or federal tax laws relating to the reporting or
withholding of taxes attributable to the issuance of Restricted Stock subject to this Award, including, but not limited to, (i) withholding, or causing to be withheld, from any form of compensation or other amount due Grantee any amount
required to be withheld under applicable tax laws, or (ii) requiring Grantee to make arrangements satisfactory to Bank (including, without limitation, paying amounts) to satisfy any tax obligations, as a condition to recognizing any
rights of Grantee under the Award. 

  

	9.	Grantee acknowledges that he understands the following: 

  

	 	a.	Under Section 83(a) of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), the excess of the fair market value on the date of Vesting of the shares of
Restricted Stock over the fair market value on the Date of Award of such shares will be taxed at the time of Vesting as ordinary income and subject to payroll and withholding taxes and to tax reporting, as applicable. 

  

 2 

	 	b.	Grantee may elect under Section 83(b) of the Code to be taxed at ordinary income rates based on the fair market value of the shares of Restricted Stock at the time such shares
are awarded, rather than at the time and as the shares of Restricted Stock Vest. Such election (an “83(b) Election”) must be filed with the Internal Revenue Service within thirty (30) days from the Date of Award. Grantee
(a) will not be entitled to a deduction for any ordinary income previously recognized as a result of the 83(b) Election if shares of Restricted Stock are subsequently forfeited to the Company, and (b) the 83(b) Election may
cause Grantee to recognize more compensation income than he would have otherwise recognized if the value of the shares of Restricted Stock subsequently declines. The form for making an 83(b) Election is attached hereto as Exhibit A. FAILURE TO FILE
SUCH AN ELECTION WITHIN THE REQUIRED THIRTY (30) DAY PERIOD AND AS OTHERWISE DESCRIBED IN THE FORM MAY RESULT IN THE RECOGNITION OF ORDINARY INCOME BY GRANTEE AS SHARES OF RESTRICTED STOCK VEST. 

  

	 	c.	The foregoing is only a summary of the federal income tax laws that apply to the shares of Restricted Stock and does not purport to be complete. GRANTEE IS DIRECTED TO SEEK
INDEPENDENT ADVICE REGARDING THE APPLICABLE PROVISIONS OF THE CODE, THE INCOME TAX LAWS OF ANY MUNICIPALITY, STATE OR FOREIGN COUNTRY IN WHICH HE MAY RESIDE, AND THE TAX CONSEQUENCES OF YOUR DEATH. 

  

	10.	Grantee agrees to deliver a Stock Power and Assignment Separate from Certificate in the form attached as Exhibit B (with the transferee, certificate number, date and number of
shares left blank), executed by Grantee and his spouse, if any, along with any certificate(s) evidencing shares of Restricted Stock issued to him, to the Secretary of the Company or its designee (“Escrow Holder”). GRANTEE HEREBY APPOINTS
THE ESCROW HOLDER TO HOLD SUCH STOCK POWER AND ANY SUCH CERTIFICATE(S) IN ESCROW AND TO TAKE ALL SUCH ACTIONS, AND TO EFFECTUATE ALL SUCH TRANSFERS AND/OR RELEASES OF SUCH SHARES, AS ARE REQUIRED TO EFFECTUATE THE TERMS OF THIS AWARD. The foregoing
appointment is a power coupled with an interest and may not be revoked by Grantee. Grantee and the Company agree that any Escrow Holder will not be liable to any party to any person for any actions or omissions, unless Escrow Holder is grossly
negligent relative thereto. Escrow Holder may rely on any letter, notice or other document executed by any signature purported to be genuine and may rely on advice of counsel and obey any order of any court with respect to the transactions by this
Agreement. Shares of Restricted Stock subject to this Award shall be released to Grantee from escrow as they Vest. 

  

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	11.	Grantee agrees that shares of Restricted Stock subject to this Award may be forfeited as described herein and that the certificate(s) representing such shares will bear a legend in
substantially the following form: 

 “The securities represented by this certificate are subject to certain transfer and
forfeiture restrictions and may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner. A copy of the agreement and plan may be obtained at the principal office of the issuer. Such transfer and forfeiture
restrictions are binding on transferees of these shares.” 
  

	12.	Miscellaneous. 

  

	 	a.	Each party agrees to cooperate fully with the other party and to execute such further instruments, documents and agreements, and to give such further written assurances, as may be
reasonably requested by the other party to better evidence and reflect the transactions described herein and contemplated hereby, and to carry into effect the intents and purposes of this Agreement. 

  

	 	b.	All pronouns shall be deemed to include the masculine, feminine, neuter, singular or plural forms thereof, as the context may require. All references to “paragraph” shall
be deemed to refer to paragraphs of this Agreement, unless otherwise specifically stated. 

  

	 	 c.
	 All notices and other writings of any kind that a party to this Agreement may or is required to give hereunder to any
other party hereto shall be in writing and may be delivered by personal service or overnight courier, facsimile, or registered or certified mail, return receipt requested, deposited in the United States mail with postage thereon fully prepaid,
addressed (i) if to Bank, to its home office, marked to the attention of the corporate secretary of Bank; or (ii) if to Grantee, to his address set forth on the signature page hereof. Any notice or other writings so delivered shall be
deemed given (i) if by mail, on the second (2nd) business day after mailing, and (ii) if by other means, on the date of actual
receipt by the party to whom it is addressed. Any party hereto may from time to time by notice in writing served upon the other as provided herein, designate a different mailing address or a different person to which such notices or demands are
thereafter to be addressed or delivered. 

  

	 	d.	Attorneys’ Fees. In any action at law or in equity to enforce any of the provisions or rights under this Agreement, the unsuccessful party to such litigation, as
determined by the court in a final judgment or decree, shall pay the successful party all costs, expenses and reasonable attorneys’ fees incurred by the successful party (including, without limitation, costs, expenses and fees on any appeal).

  

	 	e.	Waiver. No waiver of any term, provision or condition of this Agreement, whether by conduct or otherwise, in any one or more instances, shall be deemed to be, or be construed
as, a further or continuing waiver of any such term, provision or condition or as a waiver of any other term, provision or condition of this Agreement. 

  

 4 

	 	f.	Choice of Law. It is the intention of the parties that the internal laws of the State of Washington (irrespective of any choice of law principles) shall govern the validity
of this Agreement, the construction of its terms and the interpretation of the rights and duties of the parties. 

  

	 	g.	Successors in Interest. This Agreement and all of its terms, conditions and covenants are intended to be fully effective and binding, to the extent permitted by law, on the
heirs, executors, administrators, successors and permitted assigns of the parties hereto. 

 IN WITNESS WHEREOF, the parties
have executed this Agreement on the day and year first indicated above. 
  

									
	BANK	 		 	 COLUMBIA BANKING SYSTEM, INC.,
 a Washington
corporation

				
		 		 		 	By                                      
                                        
                                      
 
				
		 		 		 	Print name:                                    
                                        
                         
				
		 		 		 	Title:                                     
                                        
                                   
		 		 		 		 	
			
	GRANTEE	 		 	
		 		 	 Address:

					
		 		 		 		 	 
					
		 		 		 		 	 

									
				
		 		 		 	Social Security No.                                 
                                        
            

  

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 ACKNOWLEDGEMENT 
 GRANTEE HEREBY ACKNOWLEDGES THAT HE HAS RECEIVED A COPY OF THE PLAN. 
  

			
	 
		
	Print Name: 	 	 

  

 6 

 CONSENT OF SPOUSE AND CERTIFICATION OF MARITAL STATUS 
 CONSENT OF SPOUSE 
 This Consent of
Spouse relates to an award by Columbia Banking System, Inc. of shares of Restricted Stock to                         
under the Amended and Restated Stock Option and Equity Compensation Plan of Columbia Banking System, Inc. and a related Restricted Stock Agreement. The foregoing plan and agreement are sometimes referred to herein as the “Documents.” By
his/her signature below, the undersigned acknowledges that he/she: 
  

	 	1	is the spouse of the grantee of such shares; 

  

	 	2.	has read the Documents and is familiar with the terms and conditions of the same; and 

  

	 	3.	agrees to be bound by all the terms and conditions of the Documents. 

 Dated:                                  
  

			
	 
		
	Print Name: 	 	 

 CERTIFICATION OF MARITAL STATUS 
 I hereby certify that I am not married. 
  

			
	 
		
	Print Name: 	 	 

  

 7 

 EXHIBIT A 
 ELECTION UNDER SECTION 83(b) 
 OF THE INTERNAL REVENUE CODE OF 1986 
 The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include in taxpayer’s
gross income for the current taxable year the amount of any compensation taxable to taxpayer in connection with taxpayer’s receipt of the property described below: 
 1. The name, address, taxpayer identification number and taxable year of the undersigned are as follows: 
  

			
	NAME OF
TAXPAYER:                                      
                                        
                                        
                       	  	
		
	NAME OF
SPOUSE:                                       
                                        
                                        
                              	  	
		
	ADDRESS:                                     
                                        
                                        
                                        
          	  	
		
	SOCIAL SECURITY NO. OF
TAXPAYER:                                      
                                        
                          	  	
		
	SOCIAL SECURITY NO. OF
SPOUSE:                                       
                                        
                                 	  	

 2. The property with respect to which the election is made is described as follows:
                     shares of the common stock of Columbia Banking System, Inc., a Washington corporation (the “Company”).

 3. The date on which the property was transferred is:
                                 
 4. The property is subject to the following restrictions: 
 The property will be forfeited to the Company taxpayer’s services with the Company are terminated. The foregoing restrictions lapse in a series of installments over a 4-year period ending on
                            . 
 5. The aggregate fair market value at the time of transfer of such property (determined without regard to any restriction other than a restriction that
by its terms will never lapse) is: $                     
 6. The amount (if any) paid for such property is: $0.00 
 The undersigned has submitted a copy of this
statement to the person for whom the services were performed in connection with the undersigned’s receipt of the above-described property. The undersigned is the person performing the services in connection with the transfer of said property.

  

 1 

 The undersigned understands that the foregoing election may not be revoked except with the consent of the
Commissioner of Internal Revenue. 
 Dated:
                                 
  

									
	Taxpayer	 		 	 
					
		 		 		 	Print Name: 	 	 

  

									
	Spouse	 		 	 
					
		 		 		 	Print Name: 	 	 

 IF YOU DECIDE TO MAKE AN 83(b) ELECTION, YOU MUST FILE THIS FORM WITHIN THIRTY (30) DAYS OF THE DATE OF
AWARD AND AS OTHERWISE DESCRIBED BELOW. 
 DISTRIBUTION OF COPIES 
 1. The original is to be filed with the Internal Revenue Service Center where the taxpayer’s income tax return will be filed. Filing must be made by
no later than thirty (30) days after the date the property was transferred. 
 2. Attach one copy to the taxpayer’s income tax
return for the taxable year in which the property was transferred. 
 3. Provide a copy to the Company. 
  

 2 

 EXHIBIT B 
 STOCK POWER AND ASSIGNMENT 
 SEPARATE FROM CERTIFICATE 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                                    ,
                 shares of the common stock of Columbia Banking System, Inc., a Washington corporation, standing in the undersigned’s name on the books of
said corporation represented by Certificate(s) No.                     delivered herewith, and does hereby irrevocably constitute the
Secretary of said corporation as attorney-in-fact, with full power of substitution, to transfer said stock on the books of said corporation. 
 Dated:
                                 
  

									
	Taxpayer	 		 	 
					
		 		 		 	Print Name: 	 	 

  

									
	Spouse	 		 	 
					
		 		 		 	Print Name: 	 	 

 Please see paragraph 10 of the Restricted Stock Grant Agreement for information on completing this form. 

  

 1Form of Stock Appreciation Rights Agreement

 EXHIBIT 10.4 
 COLUMBIA BANKING SYSTEM, INC. 
 STOCK APPRECIATION RIGHTS AGREEMENT 
 THIS STOCK APPRECIATION RIGHTS AGREEMENT (“Agreement”) is entered into by and between Columbia Banking System, Inc. (“Bank”) and
                     (“Grantee”). 
  

	1.	Basis Terms of Award 

  

			
	Number of Shares of Common Stock Subject to the Award:	  	______________________________
		
	Fair Market Value on Common Stock on Date of Award (per share)	  	______________________________
		
	Amount Required to be Paid for Stock Appreciation Right:	  	$0.00
		
	Date of Award:	  	______________________________

  

	2.	Bank hereby awards to Grantee a Stock Appreciation Right with respect to the number of shares of Common Stock described above (“Award”). 

  

	3.	The Award is made under the Amended and Restated Stock Option and Equity Compensation plan of Columbia Banking System, Inc. (the “Plan”), a copy of which has been provided
to Grantee. The terms and conditions of the Plan are hereby incorporated into this Agreement by this reference. In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Agreement, the former shall
govern. Capitalized terms used in this Agreement that are not defined herein shall have the meaning given to such terms in the Plan. 

  

 1 

	4.	Vesting Schedule 

 Except as otherwise provided in the
Plan, the Stock Appreciation Right shall no longer Vest, and shall be forfeited for no consideration, immediately after Grantee fails to maintain Continuous Status as an Employee, to the extent it has not then Vested with respect to shares of Common
Stock subject to this Award in accordance with the following vesting scheduled: 
  

			
	 If Grantee maintains Continuous
Status as an Employee on
following anniversary date after the Date
of
Award
	  	 Then the Stock Appreciation Right
shall Vest with respect to the following
percent of the number of shares of
Common
Stock subject to the Award *

		
	                        1st	  	                        25%
		
	                        2nd	  	                        25%
		
	                        3rd	  	                        25%
		
	                        4th	  	                        25%

  

	*	Rounded up in each case to the nearest whole number. But in no event shall the Stock Appreciation Right Vest, over the entire vesting period, with respect to more than the total
number of shares of Common Stock subject to this Award, as described in paragraph 1. 

  

	5.	Grantee shall have no rights as a shareholder with respect to the Stock Appreciation Right or any shares of Common Stock subject to this Award. 

  

	6.	Grantee shall exercise his right to receive payments with respect to that portion of the Stock Appreciation Right that has Vested by giving a notice of exercise to Bank. The date on
which such notice is given shall be deemed to be the date of exercise. As soon as practicable thereafter, Bank shall take all actions reasonably required to effectuate the payment. 

  

	7.	No rights under the Stock Appreciation Right may be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner, other than by will or by the laws of descent or
distribution. 

  

	8.	No shares of Common Stock shall be issued with respect to a Stock Appreciation Right, unless the issuance and delivery of such shares shall comply with all relevant provisions of
law, including, without limitation, all securities laws, rules and regulations, and the requirements of any stock exchange upon which the shares may then be listed. Issuance of such shares is further subject to the approval of counsel for Bank with
respect to such compliance. 

  

	9.	Bank, in its sole discretion, may take any actions reasonably believed by it to be required to comply with any local, state, or federal tax laws relating to the reporting or
withholding of taxes attributable to the Stock Appreciation Right, including, but not limited to, (i) withholding, or causing to be withheld, from any form of compensation or other amount due Grantee any amount required to be withheld
under applicable tax laws, or (ii) requiring Grantee to make arrangements satisfactory to Bank (including, without limitation, paying amounts) to satisfy any tax obligations, as a condition to recognizing any rights of Grantee under the
Award. 

  

 2 

	10.	Miscellaneous. 

  

	 	a.	Each party agrees to cooperate fully with the other party and to execute such further instruments, documents and agreements, and to give such further written assurances, as may be
reasonably requested by the other party to better evidence and reflect the transactions described herein and contemplated hereby, and to carry into effect the intents and purposes of this Agreement. 

  

	 	b.	All pronouns shall be deemed to include the masculine, feminine, neuter, singular or plural forms thereof, as the context may require. All references to “paragraph” shall
be deemed to refer to paragraphs of this Agreement, unless otherwise specifically stated. 

  

	 	 c.
	 All notices and other writings of any kind that a party to this Agreement may or is required to give hereunder to any
other party hereto shall be in writing and may be delivered by personal service or overnight courier, facsimile, or registered or certified mail, return receipt requested, deposited in the United States mail with postage thereon fully prepaid,
addressed (i) if to Bank, to its home office, marked to the attention of the corporate secretary of Bank; or (ii) if to Grantee, to his address set forth on the signature page hereof. Any notice or other writings so delivered shall be
deemed given (i) if by mail, on the second (2nd) business day after mailing, and (ii) if by other means, on the date of actual
receipt by the party to whom it is addressed. Any party hereto may from time to time by notice in writing served upon the other as provided herein, designate a different mailing address or a different person to which such notices or demands are
thereafter to be addressed or delivered. 

  

	 	d.	Attorneys’ Fees. In any action at law or in equity to enforce any of the provisions or rights under this Agreement, the unsuccessful party to such litigation, as
determined by the court in a final judgment or decree, shall pay the successful party all costs, expenses and reasonable attorneys’ fees incurred by the successful party (including, without limitation, costs, expenses and fees on any appeal).

  

	 	e.	Waiver. No waiver of any term, provision or condition of this Agreement, whether by conduct or otherwise, in any one or more instances, shall be deemed to be, or be construed
as, a further or continuing waiver of any such term, provision or condition or as a waiver of any other term, provision or condition of this Agreement. 

  

	 	f.	Choice of Law. It is the intention of the parties that the internal laws of the State of Washington (irrespective of any choice of law principles) shall govern the validity
of this Agreement, the construction of its terms and the interpretation of the rights and duties of the parties. 

  

 3 

	 	g.	Successors in Interest. This Agreement and all of its terms, conditions and covenants are intended to be fully effective and binding, to the extent permitted by law, on the
heirs, executors, administrators, successors and permitted assigns of the parties hereto. 

 IN WITNESS WHEREOF, the parties
have executed this Agreement on the day and year first indicated above. 
  

									
	BANK	 		 	COLUMBIA BANKING SYSTEM, INC.,
		 		 	a Washington corporation
				
		 		 		 	By                                      
                                        
                                      
 
				
		 		 		 	Print
name:                                       
                                        
                      
				
		 		 		 	Title:                                     
                                        
                                   

  

									
	GRANTEE	 		 	
				
		 		 		 	Address:                                     
                                        
                             
					
		 		 		 		 	                                      
                                        
                                    
					
		 		 		 		 	                                      
                                        
                                    

									
				
		 		 		 	Social Security
No.                                       
                                        
      

 ACKNOWLEDGEMENT 
 GRANTEE HEREBY ACKNOWLEDGES THAT HE HAS RECEIVED A COPY OF THE PLAN. 
  

	
	                                      
                                        
                         
	
	Print Name:                                    
                                        
   

  

 4 

 CONSENT OF SPOUSE AND CERTIFICATION OF MARITAL STATUS 
 CONSENT OF SPOUSE 
 This Consent of
Spouse relates to an award by Columbia Banking System, Inc. of Stock Appreciation Right to                      under the Amended and Restated
Stock Option and Equity Compensation Plan of Columbia Banking System, Inc. and a related Stock Appreciation Rights Agreement. The foregoing plan and agreement are sometimes referred to herein as the “Documents.” By his/her signature below,
the undersigned acknowledges that he/she: 
  

	 	1	is the spouse of the grantee of such shares; 

  

	 	2.	has read the Documents and is familiar with the terms and conditions of the same; and 

  

	 	3.	agrees to be bound by all the terms and conditions of the Documents. 

 Dated:                                     

	
	                                      
                                        
                        
	
	Print Name:                                    
                                        
   

 CERTIFICATION OF MARITAL STATUS 
 I hereby certify that I am not married. 
  

	
	                                      
                                        
                        
	
	Print Name:                                    
                                        
   

  

 5

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