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Exhibit 10.1

AMENDMENT TO “APPENDIX A” OF THE
ASTEC INDUSTRIES, INC.
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

THIS AMENDMENT to “Appendix A” of the Astec Industries, Inc. Supplemental Executive Retirement Plan, as amended and restated as of January 1, 2008 (the “Plan”), is adopted by Astec Industries, Inc. (the “Company”), effective as of October 30, 2020.

WHEREAS, Article 2 of the Plan permits the Board of Directors of the Company (the “Board”) to designate participants in the Plan from time to time, whose names and effective dates of participation shall be set forth on Exhibit A to the Plan; 

NOW, THEREFORE, the Company hereby amends “Appendix A” of the Plan in the form attached hereto, to update the same for changes in Plan participation approved by the Board, by action taken on October 30, 2020.

Except as amended herein, the Plan shall continue in full force and effect.

                                                                        ASTEC INDUSTRIES, INC.

Date: October 30, 2020                                   By:      /s/ Stephen C. Anderson__
                                                                        Name: Stephen C. Anderson
                                                                        Title:   Secretary

						
	“Appendix A”
	Each Participant’s Date of Participation
		
	Name of Participant	Effective Dates of Participation
	Stephen C. Anderson	January 1, 2003
	Chris Colwell	May 31, 2011
	Matthew B. Haven	January 1, 2013
	Jeff May	October 1, 2013
	Jeff Schwarz	July 1, 2014
	Jaco Van Der Merwe	October 1, 2016
	Scott Barker	April 3, 2017
	Neil Whitworth	May 30, 2017
	Michael G. Anderson	July 7, 2017
	Jody Volner	November 1, 2017
	Michael Norris	January 1, 2018
	Greg Renegar	January 1, 2019
	Barry Ruffalo	August 12, 2019
	Matthew Litchfield	October 1, 2019
	Greg Oswald	October 29, 2019
	Tim Averkamp	November 4, 2019
	Rebecca Weyenberg	December 4, 2019
	Ron Earl	January 1, 2020
	Chris Frost	January 1, 2020
	Gerardo Goya	January 27, 2020
	Basman Alias	February 1, 2020
	Dena Fairley	February 1, 2020
	Eric Baker	February 1, 2020
	Brian Gray	February 1, 2020
	Jeff Rowan	March 3, 2020
	Aletheia Silcott	March 17, 2020
	David Lieber	March 30, 2020
	Reuben Srinivasan	March 30, 2020
	Tim Hilvers	March 31, 2020
	David Furr	April 20, 2020
	William Steiger	April 27, 2020
	Todd Burchett	September 20, 2020
	Ryan Hilvers	September 28, 2020
	Anshu Pasricha	October 7, 2020
	Jamie Palm	November 9, 2020ex101

 Loan Number:  52496                                                                                                          Exhibit 10.1             BUSINESS                      eFIPCO   W. B. A.       451 (4/20/20)         11221                    BUSINESS NOTE                                                   Boxes checked are applicable. © 2020 Wisconsin Bankers Association/Distributed by FIPCO® (Use only for business purpose loans)                            Boxes not checked are inapplicable.  Citizens Community Bancorp, Inc.                                                                                      October 22, 2020                       $ 28,856,388.88                                       (MAKER)                                                        (DATE) 1. Promise to Pay and Payment Schedule.      The undersigned ("Maker," whether one or more) promises to pay to the order of  Chippewa Valley Bank                                                                             ("Lender") at  607 Main Street  Bruce                                                            , Wisconsin, the sum of $ 28,856,388.88                         , plus interest as set forth below, according to the following schedule: 35 equal payments of principal of $801,566.36 are due on September 26, 2022 and on the same day(s) of each  third  month thereafter.  Interest payments are due on December 26, 2020 and on the same day(s) of each  third  month thereafter. A final payment of the unpaid principal and interest is due on June 26, 2031.   2. Interest. Interest shall accrue before maturity (whether by acceleration or lapse of time) at the stated interest rate(s) identified in section 2(a), (b) or (c) below (each a "stated  interest  rate"), as applicable, on the unpaid principal balance, calculated as provided in section 2(g) or (h), as applicable, below: [Check (a), (b) or (c); only one shall apply.] (a)    Fixed Interest Rate.         n/a      % (b)    Stepped Fixed Interest Rate.      n a/   % until                  a/n              and       a/n  % thereafter.  (c) X  Variable Interest Rate. The stated interest rate is variable and will adjust to equal the Index Rate (as defined below), plus X minus     0.750     percentage points. However, the stated interest rate shall not exceed        n/a            % and shall not be less than 3.250  %.  The minimum stated      interest rate shall not be applicable until the first rate change date. Until the first change date described below, the stated interest rate shall be 3.250 %.      The stated interest rate shall be adjusted on the change dates provided below. The "Index Rate" is:     The highest U.S. Prime Rate as published in the Wall Street Journal "Money Table" as and when the index rate changes and becomes effective.                                                                                                                                                           .     The Index Rate may or may not be the lowest rate charged by Lender. The stated interest rate shall be adjusted on the following change dates:      as and when the index rate changes and becomes effective                                                                                                                                                           .     If the Index Rate ceases to be made available to Lender during the term of this Note, Lender may substitute a comparable Index. (d) Payment  Modification.   If  section  2(b)  or  (c)  above  is  checked,  an  adjustment  in  the  stated  interest  rate  will  result  in  an  increase  or  decrease  in     (1) X the amount of each payment of interest, (2)     the amount of the final payment, (3)    the number of scheduled periodic payments sufficient to     repay this Note in substantially equal payments, (4)  the amount of each remaining payment of principal and interest so that those remaining payments     will be substantially equal and sufficient to repay this Note by its scheduled maturity date, (5) the amount of each remaining payment of principal and     interest (other than the final payment) so that those remaining payments will be substantially equal and sufficient to repay this Note by its scheduled     maturity              date        based          on      the      original            amortization                     schedule               used         by     Lender,             plus        the       final        payment              of     principal              and       interest,              or     (6   )        n/a                                                                                                                                                           .                                                                         . In addition, Lender is authorized to change the amount of periodic payments if and to     the extent necessary to pay in full all accrued interest owing on this Note. Maker agrees to pay any resulting payments or amounts.  (e) Interest After Maturity and Application of All Payments.    Interest shall accrue on unpaid principal and interest after maturity (whether by acceleration     or lapse of time) until paid X at the stated interest rate(s) under section 2(a), (b) or (c) above, as applicable, plus 5.000 percentage points  at the     stated interest rate of  n/a    %, calculated as provided in section 2(g) or (h), as applicable, below. All payments applied to this Note shall be applied     in such order as Lender determines to interest, principal and payments due under this Note or any agreement securing this Note. (f)    Compounding. Prior to maturity (whether by acceleration or lapse of time), unpaid and past due interest shall bear interest from its due     date at the stated interest rate then in effect for this Note under Section 2(a), (b) or (c) above, as applicable, calculated as provided in section     2(g) or (h), as applicable, below. (g) X  Interest Calculation (Actual Days).   Interest will be calculated by applying a daily interest rate for the actual number of days interest is owing, up to     365 days in a full year or 366 days in a full leap year. The daily interest rate will be calculated as follows: [Check (1) or (2); only one shall apply.] (1) X  360 Day Rate Calculation.  The daily interest rate will be calculated on the basis of a 360 day year, which means that it is calculated by dividing the applicable stated interest rate in section 2(a), (b) or (c), above, as applicable, and in section 2(e), above, by 360. Maker understands and agrees that calculating the daily interest rate using a 360 day year means the actual annual interest rate in a 365 day year and in a 366 day leap year is higher than the stated interest rate in section 2(a), (b) or (c), above, as applicable, and in section 2(e), above. (2)    365 Day Rate Calculation.  The daily interest rate will be calculated on the basis of a 365 day year, which means that it is calculated by dividing the applicable stated interest rate in section 2(a), (b) or (c), above, as applicable, and in section 2(e), above, by 365. Maker understands and agrees that calculating  the  daily  interest  rate  using  a  365  day  year  means  the  actual  annual  interest  rate  in  a  366  day  leap  year  is  higher  than  the  stated interest rate in section 2(a), (b) or (c), above, as applicable, and in section 2(e), above. (h)    Interest Calculation (30/360).  Interest will be calculated by applying the applicable stated interest rate based on a 360 day year, counting each day     as one thirtieth of a month and disregarding differences in lengths of months and years. 3. Other  Charges.   If  any  payment  (other  than  the  final  payment)  is  not  made  on  or  before  the 10th day  after  its  due  date,  Lender  may  collect  a delinquency charge of   X  5.000     % of the unpaid amount       n/a                . Maker agrees to pay a charge of $ 15.00              for each check or electronic debit presented for payment under this Note which is returned unsatisfied. 4. Collateral Disclaimer.     Lender disclaims as collateral security for this Note (i) any real estate mortgage or security agreement covering real property on which any building is located in a special flood hazard area, and (ii) any mobile home located in a special flood hazard area, when such collateral security arises under a mortgage or agreement between Lender        and Maker      and any indorser or guarantor of this Note or any other person providing collateral security for Maker’s obligations; provided, however, Lender does not disclaim any such collateral security arising under a real estate mortgage or security agreement taken contemporaneously with this Note or real estate mortgage(s) or security agreement(s) in favor of Lender, whenever taken, from ________________________________________________________________________________________________________________,n/a dated ____________________________________.n/a       A special flood hazard area is an area designated as such under the National Flood Insurance Program. 5. Renewal.   X This Note renews and does not satisfy or discharge a note Maker executed to Lender dated    June 26, 2019                                 . 6.    Prepayment.                       Full      or     partial           prepayment                    of    this      Note          X    is    permitted                at     any       time       without              penalty                   n/a                                                                                                                                                            .                                              THIS NOTE INCLUDES ADDITIONAL PROVISIONS ON PAGE 2.                                                                                    Citizens Community Bancorp, Inc.                                                                                                                                                      (SEAL)                                                                                    A Maryland Corporation                                                                                                               (Type of Organization)                                                                                     By                                                               (SEAL)                                                                                    Stephen Bianchi, President & CEO                                                                                     By                                                               (SEAL)                                                                                    James S Broucek, EVP, CFO, Treasurer & Secretary                                                                                                                                                      (SEAL)                                                                                                                                                       (SEAL)                                                                                     2174  Eastridge Center                                                                                     Eau Claire, WI 54701                                                                                                         (ADDRESS)                            (PHONE)                                                            FOR LENDER CLERICAL USE ONLY                       Rick Gerber, Chief Executive Officer  Note #52496  Port #422260                                                                                                                 LOAN OFFICER  Product #10406  (refinance to lower floor rate)                                                                                                Page 1 of 2

 

                                                               ADDITIONAL  PROVISIONS    7. Default and Enforcement.     Upon the occurrence of any one or more of the following events of default: (a) Maker fails to pay any amount when due under this Note or under any other instrument evidencing any indebtedness of Maker to Lender, (b) any representation or warranty made under this Note or information provided by Maker or any guarantor of this Note to Lender in connection with this Note is or was false or fraudulent in any material respect, (c) a material adverse change occurs in Maker's financial condition, (d) Maker fails to timely observe or perform any of the covenants or duties contained in this Note, (e) any guarantee of Maker's obligations under this Note is revoked or becomes unenforceable for any reason, (f) Maker, Maker's spouse or a surety or guarantor of this Note dies or ceases to exist, (g) an event of default occurs under any agreement securing this Note, or (h) Lender at any time believes in good faith that the prospect of payment or performance under this Note, under any other instrument evidencing any indebtedness  of Maker to Lender or under any agreement securing this Note is impaired, then the unpaid balance shall, at the option of Lender, without notice, mature and become immediately payable. The unpaid balance shall automatically mature and become immediately payable in the event any Maker or any surety, indorser or guarantor for any of Maker's obligations under this Note becomes the subject of bankruptcy or other insolvency proceedings. Lender's receipt of any payment on this Note after the occurrence of an event of default shall not constitute a waiver of the default or the Lender's rights and remedies upon such default. Lender may waive any default without waiving any other subsequent or prior default by Maker. Lender may also fail or delay in exercising any right, power or remedy under this Note without waiving any such right, power or remedy. Lender's single or partial exercise of any right, power or remedy under this Note shall not preclude  any  other  or  further  exercise  of  any  right,  power  or  remedy.  To  the  extent  not  prohibited  by  law,  Maker  consents  that  venue  for  any  legal proceeding relating to collection of this Note shall be, at Lender's option, the county in which Lender has its principal office in Wisconsin, the county and state in which any Maker resides or the county and state in which this Note was executed and Maker submits to the jurisdiction of any such court.    8. Security. Except for collateral disclaimed as security for this Note under section 4 on page 1 of this Note, this Note is secured by all existing and future security agreements and mortgages between Lender and Maker, between Lender and any indorser or guarantor of this Note, and between Lender and any other  person  providing  collateral  security  for  Maker's  obligations,  and  payment  may  be  accelerated  according  to  any  of  them.  Unless  a  lien  would  be prohibited by law or would render a nontaxable account taxable, Maker grants to Lender a security interest and lien in any deposit account Maker may at any  time  have  with  Lender.  Lender  may,  at  any  time  after  an  occurrence  of  an  event  of  default,  without  notice  or  demand,  set-off  against  any  deposit balance or other money now or hereafter owed any Maker by Lender any amount unpaid under this Note.    9. Rights of Lender.  All rights and remedies of Lender are cumulative and may be exercised from time to time together, separately, and in any order. Without  affecting  the  liability  of  any  Maker,  indorser,  surety,  or  guarantor,  Lender  may,  without  notice,  accept  partial  payments,  release  or  impair  any collateral  security  for  the  payment  of  this  Note  or  agree  not  to  sue  any  party  liable  on  it.  Lender  may  apply  prepayments,  if  permitted,  to  such  future installments as it elects. Lender may without notice to Maker apply payments made by or for Maker to any obligations of Maker to Lender. Without affecting the liability of any indorser, surety or guarantor, Lender may from time to time, without notice, renew or extend the time for payment.    10.  Obligations  and  Agreements  of  Maker.  The obligations under  this Note of all Makers are joint and several. All Makers, indorsers, sureties, and guarantors  agree  to  pay  all  costs  of  collection  before  and  after  judgment,  including  reasonable  attorneys'  fees  (including  those  incurred  in  successful defense or settlement of any counterclaim brought by Maker or incident to any action or proceeding involving Maker brought pursuant to the United States Bankruptcy  Code)  and  waive  presentment,  protest,  demand  and  notice  of  dishonor.  Maker  agrees  to  indemnify  and  hold  harmless  Lender,  its  directors, officers, employees and agents, for, from and against any and all claims, damages,  judgments, penalties,  and expenses, including reasonable attorneys' fees, arising directly or indirectly from credit extended under this Note or the activities of Maker. This indemnity shall survive payment of this Note. Each Maker acknowledges that Lender has not made any representations or warranties with respect to, and that Lender does not assume any responsibility to Maker for, the collectability or enforceability of this Note or the financial condition of any Maker. Each Maker has independently determined the collectability and enforceability of this Note. Maker represents that the legal name of Maker and the address of Maker's principal residence are as set forth on page 1. Maker shall not change its legal name or address without providing at least 30 days’ prior written notice of the change to Lender.    11. Entire Agreement. THIS NOTE IS INTENDED BY LENDER AND MAKER AS A FINAL EXPRESSION OF THIS NOTE AND AS A COMPLETE AND  EXCLUSIVE  STATEMENT  OF  ITS  TERMS,  THERE  BEING  NO  CONDITIONS  TO  THE  ENFORCEABILITY  OF  THIS  NOTE,  AND  THIS  NOTE MAY  NOT  BE  CONTRADICTED  OR  VARIED  BY  EVIDENCE  OF  PRIOR,  CONTEMPORANEOUS  OR  SUBSEQUENT  ORAL  AGREEMENTS  OR DISCUSSIONS OF THE PARTIES TO THIS NOTE. THERE ARE NO ORAL AGREEMENTS AMONG THE PARTIES TO THIS NOTE. THIS NOTE MAY NOT BE SUPPLEMENTED OR MODIFIED EXCEPT IN WRITING SIGNED BY LENDER AND MAKER.    12. Interpretation. This Note benefits Lender, its successors and assigns, and binds Maker and Maker's heirs, personal representatives, successors and assigns.  The  validity,  construction  and  enforcement  of  this  Note  are  governed  by  the  internal  laws  of  Wisconsin  except  to  the  extent  such  laws  are preempted by federal law. Invalidity or unenforceability of any provision of this Note shall not affect the validity or enforceability of any other provisions of this Note.    13. Other Provisions.  If none stated there are no other provisions.  Secured by but not limited to the following collateral:   All shares of stock issued by Citizens Community Federal National Association ("CCFNA") and held by Debtor, including without limitation 1,000,000 shares  represented by stock Certificate #1 issued by CCFNA which, as of the date hereof, represents 100% of all outstanding stock of CCFNA and any re-issuance  or replacement thereof as previously granted under Collateral Pledge Agreement dated August 1, 2018.    This Business Note is amended by the General Rider to Business Note, dated as of the date hereof, executed by Maker and Lender.                                                                                                                                                 Business  Note EWI451  Rev. 4/21/2020                                                                                                                           Page 2 of 2

 

                    GENERAL RIDER TO BUSINESS NOTE          This General Rider to Loan Documents ("Rider") is made and entered into as of October  22, 2020 (the "Effective Date") by and between Citizens Community Bancorp, Inc., a Maryland  corporation ("Maker"), and Chippewa Valley Bank ("Lender").          WHEREAS, on the Effective Date, Maker is executing in favor of Lender a Business Note  (the "Note") evidencing a loan in the original principal amount of $28,856,388.88 (the "Loan");          WHEREAS, the obligations, liabilities and indebtedness of Maker with respect to the Loan  will be secured by a security interest in certain investment property of Maker pursuant to the terms  of a Collateral Pledge Agreement; and          WHEREAS, Maker and Lender wish to amend the terms and provisions of the Note as set  forth herein.          NOW, THEREFORE, in consideration of the mutual covenants, agreements and promises  herein contained, and for other good and valuable consideration, the receipt and sufficiency of  which is acknowledged by all parties, the parties do hereby agree as follows, notwithstanding any  other provisions to the contrary set forth in the Note:          1.    Definitions.   All  capitalized  terms  used  herein  shall  have  the  same  meaning  as  defined in the Note, unless otherwise defined in this Rider.         2.    Amendments to Note.  The Note is hereby amended as follows:              (a)    The first  sentence of Section 7 of the Note is  deleted in  its  entirety  and  replaced with the following language:                     Upon the occurrence of any one or more of the following events of              default: (a) Maker fails to pay any amount within 10 days after such amount              is  due  under  this  Note  or  under  any  other  instrument  evidencing  any              indebtedness of Maker to Lender, (b) any representation or warranty made              under this Note or information provided by Maker or any guarantor of this              Note to Lender in connection with this Note is or was false or fraudulent in              any  material  respect,  (c)  a  material  adverse  change  occurs  in  Maker's              financial condition, (d) Maker fails to timely observe or perform any of the              covenants or duties contained in this Note, (e) any guarantee of Maker's              obligations under this Note is revoked or becomes unenforceable for any              reason, (f) Maker, Maker's spouse or a surety or guarantor of this Note dies              or ceases to exist, or (g) an event of default occurs under any agreement              securing this Note, then the unpaid balance shall, at the option of Lender,              without notice, mature and become immediately payable. Notwithstanding              the foregoing, if an event of default occurs under Section 7(d), Customer              shall  have  10  days  after  notice  thereof  to  cure  such  event  of  default,              provided that Lender, in its reasonable discretion, believes that such event              of default is able to be cured.               (b)   The fourth sentence of Section 9 of the Note is amended in its entirety to  read as follows:                     After an event of default as described in Section 7 above, Lender              may, without notice to Maker, apply payments made by or for Maker to any              obligations of Maker to Lender under this Note.               (c)   The  Note  is  amended  by  inserting  the  following  sentence  at  the  end  of  Section 10:                     Notwithstanding the foregoing, Maker shall have no obligation to              indemnify  or  hold  harmless  Lender,  its  directors,  officers,  employees  or              agents for events caused by any of their fraud or willful misconduct.       

 

            (d)   The first sentence of Section 11 of the Note is amended in its entirety to read as follows:                     THIS NOTE IS INTENDED BY LENDER AND MAKER AS A              FINAL EXPRESSION OF THIS NOTE AND AS A COMPLETE AND              EXCLUSIVE  STATEMENT  OF  ITS  TERMS,  THERE  BEING  NO              CONDITIONS TO THE ENFORCEABILITY OR EFFECTIVENESS              OF  THIS  NOTE  EXCEPT  AS  SET  FORTH  HEREIN,  AND  THIS              NOTE  MAY  NOT  BE  CONTRADICTED  OR  VARIED  BY              EVIDENCE      OF    PRIOR,     CONTEMPORANEOUS          OR              SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE              PARTIES TO THIS NOTE.               (e)   The following provisions are added to the end of Section 13 of the Note:                    Notice. Except  as  otherwise  provided  in  this  Note,  all  notices              required or provided for under this Note shall be in writing and mailed, sent              or delivered, if to Maker, at Maker's last known address or email address as              shown on the records of Lender, and if to Lender, at its address shown on              page 1, or, as to each party, at such other address as shall be designated by              such party in a written notice to the other party. All such notices shall be              deemed duly given when delivered by hand or courier, or three business              days after being deposited in the mail (including any private mail service),              postage prepaid.                     Waiver  of  Jury  Trial. MAKER  AND  LENDER  HEREBY              KNOWINGLY AND VOLUNTARILY WAIVE THE RIGHT EACH OF              THEM  MAY  HAVE  TO  A  JURY  TRIAL  WITH  RESPECT  TO  ANY              ACTION  OR  CLAIM   BASED  ON  OR  ARISING  OUT  OF  OR  IN              CONNECTION  WITH  THIS  NOTE,  ANY  COURSE  OF  CONDUCT,              COURSE  OF  DEALING,  STATEMENTS  (WHETHER  VERBAL  OR              WRITTEN) OR ANY OTHER ACTION OF ANY PARTY.         3.    Inconsistency.  To the extent there is any inconsistency between the Note and this Rider, this Rider shall control.                                 [Signature Page Follows]                                          2 

 

      IN WITNESS WHEREOF, the parties have executed this Rider as of the Effective Date  and agree to be bound by all provisions of this Rider.                                                 MAKER:                                                                                                                               CITIZENS COMMUNITY BANCORP, INC.                                                                                                                                       By:  ______________________________                                                      Stephen Bianchi, President & Chief                                                        Executive Officer                                                                                                                                       LENDER:                                                                                                                               CHIPPEWA VALLEY BANK                                                                                                                                        By:  ______________________________                                                      Rick Gerber, Chief Executive Officer                                                                                                                                       3

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