Company: ASB
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000007789-25-000025
Chunk: 60

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 60
---
 Fund.

50

Supplemental Executive Retirement Plans**

In keeping with its objective of providing a market-competitive executive compensation program designed to attract and retain

highly qualified individuals, Associated provides supplemental retirement benefits to the ELT under the Associated Banc-Corp

Supplemental Executive Retirement Plan, referred to as the “SERP.” The SERP is a non-qualified plan into which Associated

makes a restoration contribution for amounts that are otherwise restricted due to applicable IRS limitations under Associated’s

RAP and 401(k) Plan. Participation in the SERP is limited to members of Associated’s ELT, which includes the NEOs.

Associated’s contribution to the SERP is equal to the excess of the amount that would have been accrued under the RAP and

the 401(k) Plan if not for the IRS annual limitation over the amount actually accrued by the participant for the plan year under

those plans. Amounts under the SERP are unsecured and accrue at the same rate and time as accruals under the RAP and 401(k)

Plan and incur gains and losses based on notional investment preferences specified by participants among various investment

options. All participants in the SERP are fully vested in their SERP account. Distributions from the SERP are generally made in

accordance with elections made by the participants.

Perquisites

Limited perquisites offered to the ELT, including the NEOs in 2024, comprised of executive physical examinations, which the

Committee believes are valuable to Associated by helping to support the health and well-being of our ELT; financial planning

services, which are intended to permit the ELT to focus as much of their time and attention as possible on their executive

responsibilities; relocation benefits for new or transferring ELT members; and the payment of social and similar club dues to

give the ELT access to social and similar clubs for business purposes. ELT members are required to pay any other costs

attributable to their personal use of social and similar clubs. The ELT members do not receive gross-up payments for tax

liabilities resulting from perquisites, except in relation to certain relocation expenses. The ELT also participated in certain other

Company-subsidized benefits that were also available to all eligible and/or participating colleagues.

Employment and Post-Termination Arrangements with NEOs

Associated does not have employment agreements with any of the NEOs. The Committee believes that each NEO’s separation

situation should be evaluated on a case-by