Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 90

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 90
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). Under the terms of the existing employment agreement, Mr. Campbell agreed to serve as Chief Executive Officer and President of Bancorp Financial and as Chief Executive Officer and President of Evergreen Bank. The existing employment

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agreement remains in place until terminated as set forth in the agreement and includes provisions relating to salary, bonus, severance, change in control payments, other compensation matters and restrictive covenants.

In particular, the existing employment agreement provides, among other things, that in the event a change in control (as defined in the existing employment agreement) occurs during the term of the existing employment agreement, Bancorp Financial or its successor, as the case may be, is required to pay Mr. Campbell a lump sum cash payment equal to the sum of (i) three (3) times the sum of Mr. Campbell’s (a) current base salary plus (b) an amount equal to the cash bonus paid to Mr. Campbell with respect to the calendar year immediately preceding the year of the change in control, and (ii) if Mr. Campbell’s employment does not continue after the change in control or his employment is terminated by Bancorp Financial or its successor without cause (as defined in the existing employment agreement) or by Mr. Campbell for good reason (as defined in the existing employment agreement) within twelve (12) months following the change in control, an amount equal to eighteen (18) times the COBRA premium (as defined in the existing employment agreement) determined as of the date of the change in control or, if later, the date of termination of employment. It is currently estimated that the change in control payment to be paid to Mr. Campbell at the closing of the merger (assuming the transaction closes in 2025) will be $3,002,361.

Old Second Employment Agreements with Darin Campbell . In connection with the merger, Mr. Campbell will enter into an employment agreement and compensation and benefits assurance agreement with Old Second, in the forms attached as Exhibit 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