Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 38

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 38
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 articles, the governing documents of any American National
subsidiary, and any indemnification agreement in existence as of the date of the Merger Agreement, the surviving corporation will indemnify and hold harmless and will advance expenses as incurred by American National’s present and former
directors and executive officers for costs or expenses, judgments, fines, losses, damages or liabilities arising out of the fact that such person is or was a director or officer of American National or any of its subsidiaries. This indemnification
and insurance coverage is further described in the section entitled “The Merger Agreement — Director and Officer Indemnification and Insurance.”

Koutoc Consulting Agreement

Associated has entered into a consulting agreement with Mr. Kotouc, dated November 30, 2025, pursuant to which, contingent upon the
closing of the Merger, Mr. Kotouc’s employment with American National and American National Bank will terminate on the closing date of the Merger and he will provide services as a consultant to Associated for a period of two years
following his termination date. In connection with his role as a consultant, Mr. Kotouc will receive an annual retainer of $400,000 per year. The consulting agreement also provides that Mr. Kotouc will be subject to a covenant not to
compete, a covenant not to solicit employees and a covenant not to solicit customers, each lasting for three years following the termination of his employment with American National and American National Bank.

Transfer, Voting and Registration Rights Agreement

As discussed further in “The Merger Agreement — Transfer, Voting and Registration Rights Agreement,” Associated has entered
into a Transfer, Voting and Registration Rights Agreement with the American National voting shareholders, trusts affiliated with the members of the American National Board of Directors who own American National voting common stock. Under this
agreement, among other things, such stockholders will be entitled to certain customary registration rights.

As of the date of this
information statement/prospectus, no other executive officer of American National has entered into any agreement with the Surviving Corporation or any of its affiliates regarding individual employment arrangements with the Surviving Corporation or
one or more of its affiliates following the consummation of the Merger. However, such arrangements may be entered into between such individuals and the surviving corporation in the future.

28

Governance of Associated After the Merger

Articles of Incorporation

At the
effective time, the Associated articles, as in effect immediately prior to the effective time of the Merger, will remain the