Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 109

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 109
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ation, dissolution or other similar transaction with respect to Bancorp Financial or (D) transaction which is similar in form, substance, or purpose to any of the transactions listed in (A) – (C) above.

However, in the event that prior to the approval of the merger agreement by Bancorp Financial’s stockholders, Bancorp Financial receives an unsolicited bona fide acquisition proposal, and Bancorp Financial’s board of directors concludes in good faith that there is a reasonable likelihood that such acquisition proposal constitutes or is reasonably likely to result in a superior proposal, it may, and may permit its officers and representatives to, furnish or cause to be furnished nonpublic information or data and participate in negotiations or discussions to the extent that its board of directors concludes in good faith (after receiving the advice of its outside counsel and its financial advisor with respect to financial matters) that

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failure to take such actions would constitute, or would be reasonably likely to result in, a breach of its fiduciary duties under applicable law, provided that, prior to providing any such nonpublic information, Bancorp Financial enters into a confidentiality agreement with such third party on terms no less favorable to it than the confidentiality agreement between Old Second and Bancorp Financial. For purposes of the merger agreement, a “superior proposal” means any unsolicited bona fide written acquisition proposal made by a third party, which, upon acceptance by Bancorp Financial, would create a legally binding obligation of such third party (subject to regulatory approval) to consummate the acquisition proposal, on terms that Bancorp Financial’s board of directors determines in its good faith judgment, after consultation with its outside legal counsel and financial advisors, (A) would, if consummated, result in the acquisition of 50% or more of the issued and outstanding shares of Bancorp Financial common stock or 50% or more of the assets of Bancorp Financial and its subsidiaries on a consolidated basis, and (B) would result in a transaction that (1) involves consideration to the Bancorp Financial stockholders that is more favorable, from a financial point of view, than the consideration to be paid to the Bancorp Financial stockholders pursuant to the merger agreement, considering, among other things, the nature of the consideration being offered and any material regulatory approvals or other risks associated with the timing of the proposed transaction beyond or in addition to those specifically contemplated by the merger agreement (including any applicable termination fees, expense reimbursement provisions and conditions to consumm