Company: ASB
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000007789-25-000025
Chunk: 120

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 120
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acquisition by such Person or Persons) assets from the Company that have a total Gross Fair Market Value (as defined

below) equal to eighty-five percent (85%) or more than the total Gross Fair Market Value of all of the assets of the

Company immediately prior to such acquisition or acquisitions; provided , however , that, a transfer of assets by the

Company is not treated as a change in the ownership of such assets if the assets are transferred to:

(A) a shareholder of the Company (immediately before the asset transfer) in exchange for or

with respect to its stock;

(B) an entity, fifty percent (50%) or more of the total Fair Market Value or voting power of

which is owned, directly or indirectly, by the Company;

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(C) a Person, or more than one Person acting as a Group, that owns, directly or indirectly, fifty

percent (50%) or more of the total Fair Market Value or voting power of all the outstanding stock of the

Company; or

(D) an entity, at least fifty percent (50%) of the total Fair Market Value or voting power of

which is owned, directly or indirectly, by a Person described in Section 10.3(b)(iii)(C).

For purposes of this Section 10.3(b):

“ Gross Fair Market Value ” means the value of the assets of the Company, or the value of the assets being disposed of,

determined without regard to any liabilities associated with such assets;

“ Group ” shall have the meaning ascribed to such term in Treasury Regulations Section 1.409A-3(i)(5)(v)(B), (vi)(D)

or (vii)(C), as applicable;

stock ownership shall be determined under Code Section 409A; and

any interpretation or determination of the Committee regarding the payment of Deferred Compensation Awards in

connection with a Change in Control shall take into account any applicable guidance and regulations under Code Section 409A,

and shall be made with the intent to comply with Code Section 409A.

**Section 11.

Amendments and Termination**

11.1. Amendment and Termination .

(a) Subject to Section 11.2, the Board may at any time amend, alter, suspend, discontinue or terminate the Plan in

whole or in part without the approval of the Company’s shareholders, provided that (i) any amendment shall be subject to the

approval of the Company’s shareholders if (A) such approval is required by