Letter Agreement Extending Employment Agreement between Citizens Community Bancorp, Inc. and Edward H. Schaefer
This letter agreement, dated October 31, 2012, is between Citizens Community Bancorp, Inc. and Edward H. Schaefer. It extends the term of Mr. Schaefer's existing employment agreement by one year, changing the end date from December 31, 2013, to December 31, 2014. All other terms of the original agreement remain unchanged. The agreement reflects the company's appreciation for Mr. Schaefer's leadership and confirms his continued role as President and CEO.
Exhibit 10.8
| [Citizens Community Federal Letterhead] | P.O. Box 218 | Altoona, Wisconsin 54720 | ###-###-#### | Fax ###-###-#### |
October 31, 2012
Mr. David B. Westrate
Compensation Committee Chairman
Citizens Community Federal
2174 EastRidge Center
Eau Claire, WI 54701
Mr. Edward H. Schaefer
4540 Meadowbrook Court
Eau Claire, WI 54701
Dear Edward:
We are pleased to offer you an extension of the employment agreement dated July 1, 2010. All terms of the agreement will stay unchanged with the exception of page 2 “Term.” The term of the Agreement will be extended from December 31, 2013, to December 31, 2014.
All your efforts on behalf of Citizens Community Federal are much appreciated. We look forward to continued success under your leadership.
Sincerely,
| /s/ David B. Westrate |
| David B. Westrate Chairman of the Compensation Committee Citizens Community Bancorp, Inc. |
| Acceptance: | /s/ Edward H. Schaefer | |
| Edward H. Schaefer, President and CEO | ||
| Date: October 29, 2012 |
