0000891020-03-001766 Sample Contracts

FORM OF
Shareholder Agreement • June 24th, 2003 • Washington Federal Inc • Savings institution, federally chartered • Washington
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OR
Merger Agreement • June 24th, 2003 • Washington Federal Inc • Savings institution, federally chartered

Pursuant to the terms of the Agreement and Plan of Merger dated as of May 19, 2003 and as amended as of June 13, 2003 (the "Merger Agreement") among Washington Federal, Inc. ("Washington Federal"), Washington Federal Savings and Loan Association and United Savings and Loan Bank ("United Savings"), the undersigned shareholder(s) of United Savings elects to receive the following form of consideration in connection with the conversion of his or her shares of United Savings Common Stock upon consummation of the merger. This election is subject to allocation procedures intended to ensure that at least 45% and not more than 50% of the aggregate value of the consideration is paid in the form of shares of Washington Federal Common Stock, as described in the Proxy Statement/Prospectus provided to the undersigned (the "Proxy Statement").

FORM OF
Severance and Noncompetition Agreement • June 24th, 2003 • Washington Federal Inc • Savings institution, federally chartered
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