Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 120

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 120
---
 may be required to permit the continuing employees who are then actively employed to make rollover contributions to the Old National 401(k) Plan of “eligible rollover distributions” (within the meaning of Section 401(a)(31) of the Code) in the form of cash, Bremer common stock or notes (in the case of loans), or a combination thereof. Prior to the effective time, the Bremer or its subsidiaries may make an employer contribution (at a level determined in the ordinary course of business consistent with past practice) to any Bremer 401(k) plan for the year in which the effective time occurs or any prior year.

Bremer shall cause its employee stock ownership plan to be terminated effective as of the day immediately prior to the effective time and contingent upon the occurrence of the closing of the mergers. Bremer and Old National shall take any and all actions as may be required to permit the continuing employees to make rollover contributions of “eligible rollover distributions” (within the meaning of Section 401(a)(31) of the Code) to the Old National 401(k) Plan of distributions in the form of cash, Old National Common Stock or a combination thereof.

Nothing in the merger agreement will confer upon any employee, director or consultant of Bremer or any of its subsidiaries or affiliates any right to continue in the employ or service of Bremer, Old National or any subsidiary or affiliate thereof, or will interfere with or restrict in any way the rights of Bremer, Old National or any subsidiary or affiliate thereof to discharge or terminate the services of any employee, director or consultant of Bremer or any of its subsidiaries or affiliates at any time for any reason whatsoever, with

<div align='center'>70</div>

TABLE OF CONTENTS

or without cause. Nothing in the merger agreement will be deemed to (i) establish, amend, or modify any Bremer benefit plan, new plan or any other benefit or employment plan, program, agreement or arrangement, or (ii) alter or limit the ability of Old National or any of its subsidiaries or affiliates to amend, modify or terminate any particular Bremer benefit plan, new plan or any other benefit or employment plan, program, agreement or arrangement after the effective time. Nothing in the merger agreement, express or implied, is intended to or will confer upon any person, including any current or former employee, director or consultant of Bremer or any of its subsidiaries or affiliates, any right, benefit or remedy of any nature whatsoever under or by reason of the merger agreement.