Company: ONBPP
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001104659-25-007256
Chunk: 92

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-29
Form: S-4/A
Chunk 92
---
 Trust, who

53

TABLE OF CONTENTS

have separately entered into the trustee voting agreement) has entered into a director voting agreement with Old National. Pursuant to such voting agreements, subject to their terms, the trustees and directors have agreed to vote their shares of Bremer common stock in favor of approval and adoption of the merger proposal and the adjournment proposal, and to not vote their shares of Bremer common stock in favor of, or otherwise support, any alternative acquisition proposal or any action that is intended to, or could reasonably be expected to, impede, interfere with, delay or otherwise adversely affect the consummation of the transactions contemplated by the merger agreement, as well as certain other restrictions with respect to the voting and transfer of their shares of Bremer common stock. As of the record date, and excluding Bremer common stock beneficially owned by the trustees of the Otto Bremer Trust in their capacities as such, the non-employee directors of Bremer beneficially owned and were entitled to vote 8,101 shares of Bremer common stock, representing less than 1% of the outstanding shares of Bremer common stock entitled to vote on that date. The voting agreements are discussed in more detail in the section entitled “Shareholder Voting Agreements.”

Director Appointment

In connection with the execution of the merger agreement, the trustees of the Otto Bremer Trust (two of whom currently serve as directors of Bremer) entered into the investor agreement with Old National. The investor agreement provides that, among other things, effective as of the effective time of the first step merger, the Old National board of directors will be increased by one director and one of the trustees serving as a trustee of the Otto Bremer Trust immediately prior to the effective time of the first step merger (such person to be determined by the trustees in their sole discretion) will be appointed to the Old National board of directors and will serve in accordance with Old National’s corporate governance guidelines and standards applicable to all directors of Old National.

#### Executive Officers
Employment Agreement with Jeanne Crain

Bremer is party to a preexisting employment agreement with Jeanne H. Crain, President and Chief Executive Officer of Bremer, which was originally entered into on November 11, 2016 and was amended as of December 20, 2019 and December 15, 2022 (the “Crain Agreement”). Pursuant to the Crain Agreement, if Ms. Crain’s employment is terminated by Bremer without “cause” or by Ms