Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 37

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 37
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 a cash payment for COBRA premiums for up to 18 months. The foregoing payments will be conditioned on the executive officer’s
execution and non-revocation of a release of claims in favor of American National in a form provided by American National.

Pursuant to the employment agreements, each of the executive officers has agreed not to solicit American National’s or American National
Bank’s employees or customers for a period of twelve months following their termination of employment. Messrs. Hansen and Powell have also agreed not to compete with American National or American National Bank for twelve months following their
termination of employment.

The aggregate estimated value of potential payments that would become payable pursuant to the employment
agreements if such executives experience a qualifying termination of employment immediately following the Merger, assuming that the Merger and qualifying termination of employment occurs on December 1, 2025, is $14,756,959.

27

American National Deferred Compensation Plan

American National maintains a nonqualified deferred compensation plan, pursuant to which each of Messrs. Becker and Hansen and Ms. Gould
participate. Pursuant to the terms of the plan, if a participant terminates employment within two years following a change in control, then the remaining vested balance of such participant’s account will be paid to him or her in a single lump
sum. The Merger will constitute a change in control for purposes of the plan. The executive officers’ deferral accounts are fully-vested. The aggregate estimated value of the payments that would be made to the executive officers that
participate in the nonqualified deferred compensation plan pursuant to their vested account balances, assuming that the Merger and termination of employment occurs on December 1, 2025, is $1,534,527.

Director and Officer Indemnification and Insurance

Under the terms of the Merger Agreement, at or prior to the effective time of the Merger, American National will obtain and fully pay the
premium for, and the surviving corporation will maintain during the six-year period following the effective time, a “tail” prepaid directors’ and officers’ liability insurance policy or
policies, provided that the surviving corporation will not be required to expend for such extended insurance coverage an amount in excess of 300% of the current annual premium paid as of the date of the Merger Agreement by the surviving corporation
for such insurance. Additionally, the Merger Agreement provides that, for at least six years following the effective time, to the extent permitted under applicable law, the American National