Company: ASB
Filing Date: 2025-12-04
Form Type: 425
Source: 0001193125-25-307510
Chunk: 11

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-04
Form: 425
Chunk 11
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man and Co-Chief Executive Officer of the Company and Executive Co-Chairman of the Company
Bank (as defined herein) is entering into a consulting agreement (the “”) with Parent and/or Parent Bank (as defined herein);

WHEREAS, concurrently with the execution and delivery of this Agreement and as a condition to Parent’s willingness to enter into this
Agreement, John F. Kotouc and Wende Kotouc are entering into a side letter (the “”) with Parent and/or Parent Bank;

WHEREAS, concurrently with the execution and delivery of this Agreement and as a condition to Parent’s willingness to enter into this
Agreement, each shareholder of the Company listed on (the “”) is entering into a Transfer, Voting and Registration Rights Agreement pursuant to which, among other things,
each Voting Shareholder agrees to certain transfer restrictions and voting arrangements with respect to the Parent Common Stock (as defined below) and Parent agrees to register the sale of Parent Common Stock by the Voting Shareholders as provided
therein (the “”);

WHEREAS, concurrently with the execution and delivery of this
Agreement and as a condition to Parent’s willingness to enter into this Agreement, certain Voting Shareholders and their affiliates are entering into one or more Deposit Noncompetition Agreements in the form attached hereto as
(the “”), pursuant to which, among other things, such Voting Shareholders or their affiliates agree not to establish new depository relationships with competitors of the Company Bank and, following
the Merger, Parent Bank (in each case as defined below);

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WHEREAS, immediately following the execution and delivery of this Agreement, all holders of
Company Voting Stock (as defined herein) are executing and delivering to Parent duly executed counterparts to a written consent in the form attached hereto as , constituting the vote necessary to obtain the Company Shareholder
Approval (the “”); and

WHEREAS, the parties desire to make certain representations, warranties and
agreements in connection with the Merger and also to prescribe certain conditions to the Merger.

NOW, THEREFORE, in consideration of the
mutual covenants, representations, warranties and agreements contained herein, and intending to be legally bound hereby, the parties agree as follows:

ARTICLE I

THE MERGER

1.1 . Subject to the terms and conditions of this Agreement, in accordance with the Wisconsin Business Corporation Law, as
amended (the “”), and the Nebraska Model Business Corporation Act, as amended (the “”), at the Effective