Company: OSBC
Filing Date: 2025-05-08
Form Type: 424B3
Source: 0001104659-25-046065
Chunk: 110

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-08
Form: 424B3
Chunk 110
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 the other party upon receiving any communication from any regulatory authority or third party whose consent is required which causes such party to believe that a consent or approval will not be obtained or materially delayed.

#### Employee Benefit Matters
As of the effective time of the merger, all employees of Bancorp Financial and its subsidiaries who become employees of Old Second or Old Second National Bank, which we refer to as a “continuing employee” will be provided with employee compensation and benefits on the same terms and conditions as similarly situated employees of Old Second or Old Second National Bank and will be eligible to participate in each applicable Old Second and Old Second National Bank employee health and benefit plans with full credit for prior service with Bancorp Financial for purposes of eligibility and vesting. Old Second will use commercially reasonable efforts to cause any pre-existing condition, eligibility waiting period, or other limitations or exclusions otherwise applicable under such plans to new employees not to apply to a continuing employee or their covered dependents who were covered under a similar Bancorp Financial health or benefit plan at the effective time of the merger.

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TABLE OF CONTENTS

Old Second has agreed that any continuing employees who are not parties to an agreement that provides for severance or other compensation upon a change in control, who remain employed by Old Second or any of its subsidiaries as of the effective time of the merger, and whose employment is terminated by Old Second or any of its subsidiaries other than for cause prior to the first anniversary of the effective time of the merger, will receive the severance provided in the confidential disclosure memorandum.

Old Second has also agreed to pay stay bonuses to certain employees of Evergreen Bank Group mutually agreed upon by Old Second and Bancorp Financial following completion of the merger. In addition, simultaneously with the execution of the merger agreement, Darin Campbell entered into the form of the employment agreement and the form of compensation and benefits assurance agreement (collectively, the “employment agreements”) each attached to the merger agreement. For a discussion of the employment agreements with Mr. Campbell, see the section entitled “Interests of Bancorp Financial and Executive Officers in the Merger” beginning on page 56 of this proxy statement/prospectus. Bancorp Financial may, but is not required, to submit a vote to its stockholders to give a right to certain disqualified individuals (as defined in Section 280G(c) of the Code) to receive payments that could be deemed parachute payments under Section 280G(b) of the Code.

Director and Officer Indemnification and Insurance