Document:

Exhibit 10.33

 

Equity transfer agreement

 

Transferor:
Wanrun Enterprise development (Shenzhen) Co., Ltd. (hereinafter referred to as Party A)

 

Unified credit Code: 

 

Transferee: Chen Xiaoxuan (hereinafter
referred to as Party B)

 

ID card No.: 

 

Shenzhen Zhongdemei
Chuangke Management Co., Ltd. (hereinafter referred to as the company) was established on February 10, 2014, with a registered
capital of 10 million yuan. Party A has subscribed 4 million yuan, accounting for 40% of the equity. Party A is willing to transfer
20% of the equity of the company to Party B. Now Party A and Party B have reached an agreement on the transfer of equity as follows:

 

1. Price, term and method
of equity transfer:

 

(1). Party A holds 40%
of the company’s equity. According to the Articles of Association, Party A has subscribed 4 million yuan of capital contribution.
Now Party A transfers 20% of its equity to Party B in the amount of 100 yuan.

 

(2). Party B shall,
within 7 days from the effective date of this agreement, pay in the currency and amount specified in Provision 1 (1) Party A in
cash.

 

2. Party A guarantees
that it has a full and effective right to dispose of the equity transferred to Party B, and guarantees that the equity does not
have a pledge and exempt from recourse by a third party. Otherwise, Party A shall bear all economic and legal responsibilities
arising from the pledge and recourse.

 

3. Share of the company’s
profit and loss (including creditor’s rights and debts):

 

After this agreement
comes into effect, Party B shall share the profits, risks and losses in proportion to the equity.

 

4. Liability for breach
of contract:

 

If Party B fails to
pay the equity price on schedule, it shall pay 5% of the total price of the overdue part for each day overdue. In case of any economic
loss caused to Party A due to breach of contract, the part that cannot be compensated by the liquidated damages shall also be compensated
additional payment.

 

5. Dispute resolution:

 

In case of any dispute
arising from the performance of this agreement, Party A and Party B shall make a decision through friendly negotiation. If the
negotiation fails, Party B shall submit to the civil court prosecution.

 

6. Change or cancellation
of agreement:

 

In case of any of the
following circumstances, this agreement may be amended or terminated, and the amendment or termination agreement shall come into
effect after being signed by both parties.

 

(1). The agreement cannot
be performed due to force majeure.

 

(2). In case of any
change in the situation, both parties shall agree through negotiation.

 

7. Related expenses:

 

In the process of transfer,
the expenses incurred in connection with the transfer shall be borne by both parties.

 

8. Effective conditions:

 

This agreement shall
come into effect on the date of signing by both parties.

 

9. This agreement is
made in quadruplicate, one for each party, one for the company and the other for relevant departments.

 

Transferor: Wanrun Enterprise development
(Shenzhen) Co., Ltd.

 

Company’s Seal

 

	Transferee:  	/s/ Xiaoxuan Chen	 
	 	Xiaoxuan Chen	 

 

Date: February 24, 2019Exhibit 10.34

 

Transfer agreement of Piano Education
Center

 

Party A: Shenzhen Jiana Technology Co.,
Ltd

 

Party B: Zhongdemei Piano (Shenzhen)
Co., Ltd

 

Through friendly negotiation,
Party A and Party B have reached the following agreement on the transfer of Piano Education Center:

 

1. Party A agrees
to transfer the “Piano Education Center” located at No. 108 shop, Fifth Avenue, Bao’an District, Shenzhen to Party B,
including lease, interior decoration, facilities and equipment, with a building area of about 442.11 square meters, and ensure
that Party B has the same rights and obligations as Party A in the original housing lease contract, and Party B agrees to accept
the transfer; Party A agrees to transfer the “Piano Education Center” located on the third floor of Beijing Oriental
Huadu small talent education city, Wenjin Road, Luohu District, Shenzhen, including lease, interior decoration and facilities and
equipment, with a building area of about 610 square meters, and ensure that Party B has the same rights and obligations as Party
A in the original housing lease contract, and Party B agrees to accept;

 

2. Party A shall
transfer the above two centers to Party B at a price of RMB 1.45 million. After the transfer, Party B agrees to perform the terms
stipulated in the original store lease contract on behalf of Party A, and pay the rent and the water and electricity fees and other
fees that shall be paid by Party A as stipulated in the contract on a regular basis. In the future, if Party B signs the lease
contract with the landlord, Party A agrees to cooperate.

 

3. After the
transfer, the existing decoration, decoration and all other equipment and house decoration of the shop and all business equipment
belongs to Party B.

 

4. Party B shall
pay the transfer fee to Party A on April 30, 2019 totaling RMB 1.45 million (in words: one million four hundred and fifty thousand).

 

5. Party A shall
be responsible for all creditor’s rights and debts of the shop before Party B takes over; Party B shall be responsible for all
business activities and creditor’s rights and debts generated after Party B takes over.

 

6. After the
signing of the agreement, both parties shall consciously abide by it and shall not breach the contract. If one party breaches the
contract, it shall compensate the other party for all losses caused by it. If Party B’s operation is damaged due to irresistible
factors such as natural disasters, it has nothing to do with Party A.

 

7.Others

 

(1). Matters not covered
in this Agreement shall be supplemented in words after negotiation by both parties, which shall have the same legal effect.

 

(2). This agreement
is made in duplicate, one for each party, and shall come into force as of the date when both parties affix their seals.

 

	Party A (seal):  	Party B (seal):
	 	 
	Shenzhen Jiana Technology Co., Ltd	Zhongdemei Piano (Shenzhen) Co., Ltd
	 	 
	 	Date: December 1, 2017Exhibit

Exhibit   10.1
ADDENDUM NO. 1 TO SECOND AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT
This Addendum No. 1 is made this 23rd day of April, 2020 (the “Effective Date”), to the Second Amended and Restated Executive Employment Agreement between by and between Citizens Community Bancorp, Inc., a Maryland corporation, (the “Holding Company”) and its wholly-owned subsidiary, Citizens Community Federal, N.A., a national banking association (the “Bank”) (collectively, the “Company”), and Stephen M. Bianchi (“Executive”), dated November 1, 2019 (the “Employment Agreement”).    
WHEREAS, the Employment Agreement in its Section 5(d) provides for the payment of certain benefits to Executive in the event that, following a Change in Control, Executive’s employment is terminated by the Company without Cause or Executive resigns for Good Reason (as those terms are defined in the Employment Agreement); and
WHEREAS, the Company and Executive mutually agree that certain terms of Section 5(d) of the Employment Agreement should be modified; and
WHEREAS, the Company and Executive agree that the other terms of the Employment Agreement are unaffected by this Addendum No. 1 and will remain in full force and effect.
NOW, THEREFORE, in consideration of the foregoing, and of Section 15 of the Employment Agreement regarding amendments thereto, the parties agree as follows:  
1.    Section 5(d)(iii) of the Employment Agreement is hereby superseded and replaced to state:
a payment equal to two hundred fifty percent (250%) of (A) the Executive’s annual Salary at the time of termination and (B) the greater of (x) the amount of a pro-rated incentive award pursuant to the terms of the Bank’s Executive Short Term Incentive Plan for the plan year in which the termination occurs at Level II (i.e. Plan) or actual performance versus Plan if higher at the time of termination or (y) a pro-rated amount of the average Executive Short Term Incentive Plan awards, if any, that Executive received for the two plan years immediately prior to the plan year in which termination occurs; and
2.    Section 5(d)(iv) of the Employment Agreement is hereby superseded and replaced to state:
provided that Executive or his spouse or dependents timely elect continuation coverage under a group health plan of the Company pursuant to the requirements of Section 4980B of the Code, as amended, and any similar applicable law, (“COBRA”), 

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continued participation in the Company’s medical and dental plans with the full monthly premiums to be paid by the Company until the earlier of (A) Executive’s eligibility for coverage under another employer’s group health plan, (B) termination of Executive’s rights to continuation coverage under COBRA, or (C) thirty (30) months following the termination of Executive’s employment with the Company.  Executive agrees and acknowledges that the period of coverage under such plans shall run concurrently with such plans’ obligations to provide continuation coverage pursuant to COBRA, and that this subsection shall not extend such plans’ obligations to provide continuation coverage under COBRA.  In the event that Executive timely elects COBRA continuation and remains covered under the Company’s group health plan, but his right to COBRA continuation terminates under (B) above due to expiration of the maximum COBRA continuation period, and is not extended after 18 months of coverage, then the Company will at that time pay Executive a lump sum amount equal to twelve (12) months of Executive’s monthly COBRA premiums, which he may direct toward future health insurance premium payments.
3.    The provisions of this Addendum are hereby incorporated into and made a part of the Employment Agreement.  Except as expressly modified herein, all other terms and provisions set forth in the Employment Agreement shall remain in full force and effect and shall not otherwise be affected by this Addendum.

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IN WITNESS WHEREOF, the parties have duly executed this Addendum No. 1 as of the Effective Date.
STEPHEN M. BIANCHI

/s/ Stephen M. Bianchi                                

CITIZENS COMMUNITY BANCORP, INC.        

By: /s/ Michael L. Swenson                                 
         Michael L Swenson 
         Director

CITIZENS COMMUNITY FEDERAL, N.A.

By: /s/ Michael L. Swenson                                 
         Michael L. Swenson
         Director

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