Document:

ex1019

the amount of each paymentAn adjustment in the Note Rate will result in an increase or decrease in (1)  the number of scheduled periodic paymentsthe amount of the final payment, (3) of interest, (2)  the amount of each remaining paymentsufficient to repay this Note in substantially equal payments, (4)  of principal and interest so that those remaining payments will be substantially equal and sufficient to repay the amount of each remaining payment of principal and )5(   ,etad ytirutam deludehcs sti yb etoN siht 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)  Lender is authorized to change the amount of periodic payments if and to the extent necessary to pay  lapse of time, until paid, at the Note Rate calculated under this paragraph 1.b., plus an additional   percentage points. All interest is computed on the same basis as interest is computed as provided in the Note,  which interest computation method is not modified by this Agreement. % per year, and until the first change date described below the % perHowever, beginning on the first change date described below the Note Rate will not exceed % per year. The Note Rate shall be adjusted on the change dates provided below. as Maker(s), in (the "Note").the original principal amount of $  (theThe Note is modified according to the terms of this Agreement effective as of  "Effective Date"), as follows: Maker(s) promises to pay to Lender the unpaid principal balance of the Note, plus interest on the unpaid principal balance of the Note, according to the following schedule: Page 1 of 2  NOTE MODIFICATION AGREEMENT (VARIABLE RATE) (For use with WBA 451 Business Note and 755 Agricultural Universal Note)  464VAR (3/26/20)W. B. A. © 2020 Wisconsin Bankers Association/Distributed by FIPCO® ,This Note Modification Agreement ("Agreement") modifies the Note dated  as Lender, and between  For valuable consideration, receipt of which is hereby acknowledged, the undersigned agree as follows: 1.  All unpaid principal and accrued interest bear interest after maturity, whether occurring by acceleration or percentage points ("Note Rate") . minus a. b. Boxes checked are applicable.  Boxes not checked are inapplicable. eFIPCO The terms of this paragraph 1 supersede any provision to the contrary in the Note, including, but not limited to, provisions for a fixed, variable or stepped interest rate. The "Index Rate :si " c. If the Index Rate ceases to be available to Lender during the term of the Note, Lender may substitute a comparable index. The Index Rate may or may not be the lowest rate charged by Lender. The Note Rate shall be adjusted on the following change dates:  Before maturity (whether by acceleration or lapse of time), the Note bears interest on the unpaid principal  balance of the Note as follows: At a variable annual rate  which will adjust to equal the Index Rate (as defined below)  plus year and will not be less than   Note Rate shall be  . . in full all accrued interest owing on this Note. Maker agrees to pay any such additional payments or amounts.  . 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, 2021 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. 3.000 3.000 Exhibit 10.19 October 22, 2020 Chippewa Valley Bank Citizens Community Bancorp, Inc. 28,856,388.88 October 20, 2021 0.750 n/a                                                                                                            as and when the index rate changes and becomes effective X                                                                                                                         n/a 5.000 X 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. Loan Number: 52496 

 

 Note Modification Agreement (Variable Rate) Page 2 of 2 (Seal)  MAKER(S) LENDER: Dated:  .As of the Effective Date, the unpaid principal balance of the Note is $  This Agreement does not satisfy or discharge the Note or any documents that secure the Note. Except as  specifically modified by this Agreement, the Note and any documents executed by Maker or any third party in  connection with the Note remain in full force and effect and are not modified. 2.  3. Byx Title: (Seal)  (Type of Organization)  (Seal)  (Seal)  (Seal)  (Seal)  (Address) (Phone)  28,856,388.88 October 20, 2021 Chippewa Valley Bank Rick Gerber Chief Executive Officer Citizens Community Bancorp, Inc. A Maryland Corporation By By Stephen Bianchi, President & CEO James S Broucek, EVP, CFO, Treasurer & Secretary 2174  Eastridge Center Eau Claire, WI 54701Document

Exhibit 4.4

DESCRIPTION OF CAPITAL STOCK

The following is a summary of the material terms of our capital stock, including our restated certificate of incorporation and amended and restated bylaws. You are strongly encouraged, however, to read our restated certificate of incorporation, amended and restated bylaws and any other relevant agreements, each of which is filed or will be filed as an exhibit to the registration statement of which this prospectus is a part. Additionally, copies of these documents are available from us upon request. Please also refer to “Where You Can Find More Information” to find out where copies of these documents may be obtained.

General

Our authorized capital stock consists of 5,000,000 shares of preferred stock, of which no shares are outstanding, and 30,000,000 shares of common stock, of which 26,029,778 shares were outstanding on April 19, 2019, held by 290 holders of record.

Common Stock

The holders of common stock vote cumulatively when electing directors and are entitled to one vote per share on all other matters. The board of directors presently consists of three classes of directors based on when their terms expire. Each class is elected every three years to a three-year term. Because only a portion of the total number of directors is elected each year, a greater number of shares is required to ensure the ability to elect a specific number of directors using cumulative voting than would be required if the entire Board were elected each year.

Holders of common stock are entitled to receive ratably such dividends as may be declared by the board of directors out of funds legally available therefore. In the event of liquidation, dissolution or winding up of the Company holders of common stock are entitled to share ratably in all assets remaining after payment of liabilities and satisfaction of any preferential rights of the holders of the preferred stock. Holders of common stock have no preemptive, subscription or conversion rights. There are no redemption or sinking fund provisions, and there is no liability for further calls or assessments by the Company.

Preferred Stock

The Board has the authority, without any further action by stockholders, to issue 5,000,000 shares of preferred stock in one or more series with dividend rights, conversion rights, voting rights, redemption terms, liquidation preferences and other rights or preferences that could be senior to those of holders of common stock. There are no shares of preferred stock outstanding.

Anti-Takeover Provisions

We are subject to Section 203 of the Delaware General Corporation Law, or DGCL. Subject to certain exceptions, Section 203 prevents a publicly held Delaware corporation from engaging in a “business combination” with any “interested stockholder” for three years following the date that the person became an interested stockholder, unless the interested stockholder attained such status with the approval of our board of directors or unless the business combination is approved in a prescribed manner. A “business combination” includes, among other things, a merger or consolidation involving us, and the interested stockholder and the sale of more than 10% of our assets. In general, an “interested stockholder” is any entity or person beneficially owning 15% or more of our outstanding voting stock and any entity or person affiliated with or controlling or controlled by such entity or person. The restrictions contained in Section 203 are not applicable to any of our existing stockholders.

 In addition, our restated certificate of incorporation and amended and restated bylaws include a number of provisions that may have the effect of discouraging persons from pursuing non-negotiated takeover attempts. These provisions include:
 
•a classified Board;
•a requirement that directors may only be removed for cause and only by an affirmative vote of the holders of a majority of the Company’s voting stock; and
•the inability of stockholders to call special meetings and to act without a meeting.

Subject to the exceptions set forth below, certain business combinations involving a “Related Person” require the approval of the holders of at least 80% of the outstanding shares entitled to vote generally in the election of directors (which we refer to as “voting shares”) and the approval of the holders of a majority of the voting shares not owned beneficially by the Related Person. The 80% voting requirement does not apply if:

•the terms of the business combination meet certain fairness standards set forth in our restated certificate of incorporation;

Exhibit 4.4

•the business combination is approved by the holders of a majority of the voting shares not owned beneficially by the Related Person; and
•all other affirmative voting requirements imposed by applicable law or our restated certificate of incorporation are met.

Alternatively, the business combination can be approved by a majority of the “Continuing Directors” and such other vote as may be required by law or by our restated certificate of incorporation.

“Related Person” means any person, entity or group that beneficially owns five percent or more of the outstanding voting stock (subject to certain exceptions) and affiliates and associates of any such person, entity or group.

“Continuing Director” means, as to any Related Person:

•a member of the board of directors who was a director of our company’s predecessor prior to June 9, 1987 or thereafter became a director of our company prior to the time the Related Person became a Related Person; and
•any successor of such a director who is recommended by a majority of such directors then on the Board.

However, to be a Continuing Director as to any Related Person, the director must not be the Related Person or an affiliate of the Related Person.

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