UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~October~~May 275, ~~2015~~2016

Citizens Independent Bancorp, Inc. (Exact name of registrant as specified in its charter)

(Exact name of registrant as specified in its charter)

Ohio	333-191004	31-1441050
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

188 West Main Street Logan, Ohio 43138 (740) 385-8561 (Address of principal executive offices) (Zip Code)

Logan, Ohio 43138

(740) 385-8561

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (740) 385-8561

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

~~Section~~Item 52.02. –Results ~~Corporate~~of ~~Governance~~Operations and ~~Management~~Financial Condition.

~~Item~~On May 5~~.02 Departure~~, 2016, Citizens Independent Bancorp, ofInc. ~~Directors~~(“Bancorp”) orwill ~~Principal~~convene ~~Officers;~~its ~~Election~~Annual Meeting of ~~Directors;~~Shareholders ~~Appointment~~(the of“Annual ~~Principal~~Meeting”) ~~Officers;~~at ~~Compensatory~~7:00pm ~~Arrangements~~EST. During the Annual Meeting, a presentation will be delivered by management disclosing certain unaudited financial information about Bancorp for the quarter ended March 31, 2016. A copy of ~~Certain~~the presentation is attached as Exhibit 99.1 to this Form 8-K and is incorporated ~~Officers~~herein by reference.

~~(e) On October~~Item ~~27, 2015, Citizens Independent Bancorp, Inc~~7. (“Citizens”) and its wholly-owned subsidiary, The Citizens Bank of Logan (the “Bank”) (Citizens and the Bank shall be collectively referred to as the “Company”) entered into an Employment Agreement with Daniel C01. ~~Fischer~~Regulation toFD ~~serve as President and CEO of the Bank and Citizens~~Disclosure.

~~The~~On ~~Employment~~May ~~Agreement provides for a base salary of not less than $189~~5,~~650~~ ~~and Mr. Fischer’s ability to receive during the term of the Employment Agreement a performance bonus of up to $30,000 in January~~ 2016, ~~and thereafter of up to 25% of his base salary on an annual basis~~ at the ~~discretion of~~Annual ~~the~~Meeting, ~~Board~~management of ~~Directors of Citizens and the Bank. The Employment Agreement entitles Mr. Fischer to a relocation bonus~~Bancorp ofwill ~~$33,750~~deliver ~~if certain terms are met,~~ a ~~Supplemental~~presentation ~~Executive Retirement Plan, which is discussed below, and a car allowance. Mr. Fischer agreed~~ to ~~purchase~~its ~~$25,000 worth of Citizens stock within 12 months of the execution of the Employment Agreement~~shareholders. ~~Upon the~~ ~~completion~~The ofpresentation ~~the~~is ~~purchase,~~attached ~~Citizens~~as ~~agreed~~Exhibit ~~to grant Mr~~99.1 ~~Fischer~~and ~~one~~is ~~share~~hereby offurnished ~~restricted stock for every two shares of stock~~pursuant heto ~~purchased,~~this ~~which~~Item ~~stock will vest in 3 equal installments, beginning on the grant date~~7.01.

~~Under~~The ~~the~~information ~~Employment~~in ~~Agreement,~~this ~~Mr.~~Item ~~Fischer’s employment may be terminated by the Company for Cause~~7.01, ~~Disability~~including ~~(both~~Exhibit ~~as defined in the agreement)~~99.1, ~~or death. The~~is ~~Employment~~furnished ~~Agreement~~and ~~also~~shall ~~may~~not be ~~terminated~~deemed at“filed” ~~any~~for ~~time~~purposes byof ~~either~~Section ~~party~~18 ~~without~~of ~~cause~~the ~~upon~~Securities 30Exchange ~~days’~~Act ~~prior~~of ~~written~~1934, ~~notice. Mr.~~as amended, ~~Fischer~~or isotherwise ~~not~~subject ~~entitled~~ to ~~any~~liabilities ~~further payments~~ under ~~the~~that ~~Employment~~section, ~~Agreement~~and ifshall henot ~~terminates~~be ~~his~~deemed ~~employment~~to orbe ifincorporated ~~the~~by ~~Company terminates~~reference itinto ~~for~~any ~~Cause,~~filing of ~~death~~the orregistrant ~~Disability. If~~under ~~his employment is terminated by~~ the ~~Company~~Securities ~~without~~Act ~~Cause~~of on1933, oras ~~before December 31~~amended, ~~2016,~~regardless ~~Mr.~~of ~~Fischer~~any ~~shall~~general beincorporation ~~entitled~~language toin ~~three months’ salary, and if~~ such ~~a termination occurs after December 31~~filing, unless ~~2016,~~expressly heincorporated ~~shall~~by bespecific ~~entitled~~reference to ~~six~~such ~~months’ salary~~filing.

~~The~~Item ~~Employment~~9.01. ~~Agreement~~Financial ~~includes~~Statements ~~covenants regarding non-competition, non-solicitation~~ and ~~non-disclosure, which covenants extend for a period of one year after the termination of Mr~~Exhibits. ~~Fischer’s employment.~~

~~On October 27, 2015, the Bank also entered into a Change of Control Agreement~~ (~~the “COC Agreement”~~d) with Mr. Fischer. The term of the COC Agreement coincides with the term of the Employment Agreement. The COC Agreement provides that if Mr. Fischer’s employment is terminated without Cause and within six months following a Change of Control (as defined in the COC Agreement), the Bank shall pay him his then current salary for a period of 24 months. If such a termination occurs after December 31, 2016 but on or before December 31, 2017, Mr. Fischer shall also be entitled to one times his target bonus or two times his target bonus if such termination occurs after December 31, 2017.Exhibits

~~On October 27, 2015, the Bank also adopted the Citizens Bank of Logan Supplemental Executive Retirement Plan (the “SERP”) for Mr. Fischer.~~ The ~~SERP entitles~~following ~~Mr.~~exhibits ~~Fischer~~are tofurnished 120 equal monthly payments of the Accrued Liability Balance upon his termination. The SERP is an unfunded, unsecured promise to pay benefits. The Employment Agreement provided that Mr. Fischer would receive an annual deferred compensation amount of not less than $25,000 each year in the SERP. Mr. Fischer’s interest in the SERP vests at the rate of 20% per year, with full vesting occurring on December 31, 2019; provided, however, that Mr. Fischer becomes fully vested in the SERP upon a change of control (as defined in the Employment Agreement) and that there is a separate, lesser lump sum payment provided in lieu of termination benefits until Mr. Fischer is fully vested in the SERP.herewith:

~~The~~Exhibit ~~foregoing~~Number ~~summary~~Exhibit ~~is qualified in its entirety by reference to the Employment Agreement, COC Agreement and SERP, a copy of each of which is attached as Exhibits 10.1, 10.2 and 10.3, respectively, hereto.~~Description

~~Section~~99.1 9Annual –Meeting ~~Financial~~presentation ~~Statements~~slides ~~and~~dated ~~Exhibits~~May 5, 2016

~~Item 9.01 Financial Statements and Exhibits.~~SIGNATURE

~~(d) Exhibits~~Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Exhibit
	CITIZENS INDEPENDENT BANCORP, INC.
Number		Description
Date: May 5, 2016
10.1		Employment Agreement
	By: /s/ Daniel C. Fischer
10.2		Change of Control Agreement
	Daniel C. Fischer
10.3		Supplemental Executive Retirement Plan
	President and Chief Executive Officer

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	CITIZENS INDEPENDENT BANCORP, INC.
Date: January 25, 2016
	By:	/s/ James V. Livesay
		James V. Livesay, Chief Financial Officer

Filing Compare · Citizens Independent Bancorp, Inc.