Company: ASB
Filing Date: 2025-05-01
Form Type: S-8
Source: 0001104659-25-043349
Chunk: 3

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-05-01
Form: S-8
Chunk 3
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 a corporation at such time as the director or officer furnishes to the corporation
a written affirmation of his or her good faith belief that he or she has not breached or failed to perform his or her duties to the corporation
and a written undertaking to repay any amounts advanced if it is determined that indemnification by the corporation is not required.

The indemnification provisions of Sections 180.0850
to 180.0859 of the WBCL are not exclusive. A corporation may expand a director’s or officer’s rights to indemnification: (i) in
its articles of incorporation or by-laws; (ii) by written agreement; (iii) by resolution of its board of directors; or (iv) by
resolution that is adopted, after notice, by a majority of all of the corporation’s voting shares then issued and outstanding.

As permitted by Section 180.0858 of the WBCL,
the Registrant has adopted indemnification provisions in its bylaws that closely track the statutory indemnification provisions of the
WBCL with certain exceptions. In particular, Article XI of the Registrant’s bylaws, among other items, provides that (i) an
individual shall be indemnified unless it is proven by a final judicial adjudication that indemnification is prohibited and (ii) payment
or reimbursement of expenses, subject to certain limitations, will be mandatory rather than permissive. In addition, all officers, directors,
employees, and agents of controlled subsidiaries of the Registrant shall be deemed for purposes of Article XI to be serving as such
officers, directors, employees, and agents at the request of the Registrant. The right to indemnification granted to such officers, directors,
employees and agents by Article XI is not subject to any limitation or restriction imposed by any provision of the articles of incorporation
or bylaws of such controlled subsidiary; provided, however, that any right to indemnification so granted shall be subject to and limited
by the laws and regulations of any applicable regulatory authority to which such controlled subsidiary is subject. For purposes of Article XI,
a “controlled subsidiary” means any corporation at least 80% of the outstanding voting stock of which is owned by the Registrant
or another controlled subsidiary of the Registrant.

As permitted by Section 180.0857 of the WBCL,
the Registrant has purchased directors’ and officers’ liability insurance that insures the Registrant’s directors and
officers, among other things, against certain liabilities that may arise under the Securities Act.

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