Common use of Prior Agreements; Waiver and Release Clause in Contracts

Prior Agreements; Waiver and Release. This Agreement supersedes and replaces in their entirety any and all previous agreements between Executive and North Cascades Bank, the Holding Company, or its affiliates, regarding compensation or terms of employment of Executive, including, without limitation, agreements regarding change in control payments, severance payments, option grants, and any Supplemental Executive Retirement Plan (SERP) arrangements (the “Prior Agreements”). Executive hereby waives any right or entitlement to any severance payments, compensation, monies, or benefits under the Prior Agreements. Executive expressly waives and releases the Bank, GBCI and its affiliates, from any and all claims or obligations arising out of the Prior Agreements. For the avoidance of doubt, nothing in this Section 14b shall cause Executive to waive the right to any benefits accrued as of the Effective Date under such Executive’s SERP and such accrued benefits shall be subsequently payable in accordance with the terms of such SERP (but no further benefits shall accrue).