Company: OSBC
Filing Date: 2025-05-08
Form Type: 424B3
Source: 0001104659-25-046065
Chunk: 90

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-08
Form: 424B3
Chunk 90
---
 C to the merger agreement which is included as Annex A to this proxy statement/prospectus. Please see Exhibit C to Annex A attached hereto for the complete terms of Mr. Campbell’s new employment agreements with Old Second.

Bancorp Financial Change of Control Agreements with Jill Voss and Michael Spaniak. Each of Ms. Voss and Mr. Spaniak have entered into a Change of Control Agreement with Bancorp Financial. The change of control agreements provide, among other things, that if the executive officer is terminated without cause (as defined in the agreement) or voluntarily terminates his or her employment for good reason (as defined in the agreement), in either case (a) six months prior a change of control (as defined in the agreement) at the request of the third party involved in the transaction constituting the change of control or (b) within 12 months following a change of control, the executive officer is entitled to receive a lump sum cash payment equal to (i) any accrued and unpaid base salary and vacation and (ii) 200% (in the case of Ms. Voss) or 150% (in the case of Mr. Spaniak) of the sum of (A) his or her base salary in the current fiscal year, and (B) the amount of the cash bonus paid to the executive officer with respect to the fiscal year immediately preceding the year of termination/resignation. In addition, the executive officer is entitled to continue to receive health, welfare and insurance benefits for a period of one year at the same cost to the executive officer as was paid prior to termination. unless such benefits are provided by a subsequent employer. It is currently estimated that the change of control payments to be paid to each of Ms. Voss and Mr. Spaniak pursuant to the change of control agreement at the closing of the merger (assuming the transaction closes in 2025) will be $816,777 and $481,753, respectively.

Bancorp Financial Supplemental Executive Retirement Plan (“SERP”) . Each of Mr. Campbell and Ms. Voss are participants in the Bancorp Financial, Inc. Supplemental Executive Retirement Plan that was effective January 1, 2012. Pursuant to the terms of the plan, each of the participants is entitled to a payout of the participant’s benefits under the plan in the event of a termination of the plan upon a change in control (as defined in the plan). In accordance with the terms of the merger agreement and as a result