Company: OSBC
Filing Date: 2025-05-08
Form Type: 424B3
Source: 0001104659-25-046065
Chunk: 111

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-08
Form: 424B3
Chunk 111
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The merger agreement provides that the combined company will indemnify, defend and hold harmless, to the fullest extent permitted by applicable law and the governing documents of Bancorp Financial as in effect on the date of the merger agreement (including provisions related to the advancing of expenses incurred in the defense of any litigation), all present and former directors and officers of Bancorp Financial and its subsidiaries against any liabilities arising out of actions or omissions arising out of the former officer’s or director’s service or services as directors, officers, employees, or agents of Bancorp Financial or, at Bancorp Financial’s request, of another entity or enterprise occurring at or prior to the effective time.

The merger agreement further provides that the surviving corporation will use its reasonable best efforts to maintain in effect, for a period of six years after the effective time, Bancorp Financial’s existing directors’ and officers’ liability insurance policy (or a substitute policy with at least the same coverage and terms no less favorable to the insured, provided that there is no gap in coverage) with respect to claims arising from events occurring before the effective time. However, the surviving corporation is not required to spend more than 300% of the current aggregate annual premium for such policy. If the cost exceeds this amount, the surviving corporation must use its reasonable best efforts to obtain the most advantageous policy available for a premium equal to that amount.

Alternatively, Old Second or Bancorp Financial (in consultation with Old Second) may procure a six-year “tail” prepaid policy with equivalent coverage prior to the effective time, and if such tail policy is purchased, Old Second and the surviving entity will have no further obligations with respect to such insurance other than to maintain that policy.

#### Corporate Governance
After the effective time, Old Second will increase the size of its board of directors by one and appoint Darin Campbell to serve as a Class I director of Old Second and Old Second will nominate Mr. Campbell to stand for election for a three-year term as a Class I director at Old Second’s 2026 annual meeting of stockholders. Also, after the effective time of the bank merger, Old Second National Bank will increase the size of its board of directors by two and appoint Mr. Campbell and Jill Voss to serve as directors of Old Second National Bank and will nominate Mr. Campbell and Ms. Voss to stand for election as bank directors for a one-year term at the bank’s 2026 annual meeting, and Old Second has agreed to vote to elect Mr. Campbell and Ms. Voss for such one-year term