Company: OSBC
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001558370-25-004277
Chunk: 71

Company: OLD SECOND BANCORP INC
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 71
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 alteration in the nature or status of his authorities, duties, or responsibilities from those in effect as of 90 days prior to the change in control; |

| ● | the requirement that the executive be based at a location in excess of 25 miles from his principal job location or office immediately prior to the change in control; |

| ● | a reduction in the executive’s current base salary and/or other benefits or perquisites; or |

| ● | the failure of the Company, or any of its subsidiaries, to keep in effect any of the compensation, health and welfare benefits, or perquisite programs under which the executive receives value, as such programs exist immediately prior to the change in control, or the failure of the Company or one of its subsidiaries, to meet the funding requirements, if any, of each of the programs. However, the replacement of an existing program with a new program will be permissible (and not grounds for a good reason termination) if done for all employees generally; or |

| ● | the Company, or any successor company commits a material breach of any provision of the agreement including, but not limited to the Company failing to obtain the assumption of, or the successor company refusing to assume the obligations of the agreement. |

For purposes of each agreement, the term “change in control” generally has the meaning ascribed to it in Mr. Eccher’s employment agreement as described above under “ Potential Payments Upon Termination or Change in Control— Employment Agreement with Mr. Eccher.” In exchange for the payments and benefits provided, under each agreement, the executive officers have agreed to be bound by certain restrictive covenants, as applicable. The restrictive covenants will prohibit the executive officers from using, attempting to use, disclosing or otherwise making known to any person or entity (other than our board of directors) confidential or proprietary knowledge or information which the executive officers may acquire during their employment.

44

Equity Award Agreements Retirement, Death and Disability.Generally speaking, a termination of employment due to retirement, death or disability does not entitle the named executive officers to any payments or benefits that are not available to other employees. Following a termination due to death or disability, each named executive officer (or his estate) shall be entitled to the following:

| ● | Upon a termination due to death or disability, all unvested stock options shall become immediately 100% vested and an employee or beneficiary shall have a period of twelve months following such termination during which to exercise his vested stock options. |

| ● | Any