Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 55

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 55
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 and shall terminate on the earliest of (1) twenty five (25) years from the date of closing of the Offering and (2) the consummation of a Business Combination. Upon the termination of the Agreement pursuant to this Section 2, all rights and obligations of the parties under the Agreement shall cease and be of no further force or effect, and no party shall have any liability or obligation under the Agreement, including with respect to any action taken or not taken prior to such termination.**

3.

Bancorp Financial proposes to amend Section 4(a)(iv) of the Stockholders Agreement as follows:

ORIGINAL: (iv) a Stockholder desires to sell all, or a portion, of his or her Stock pursuant to a bona fide arm’s-length transaction that is not otherwise prohibited by this Agreement, or any other transfer;

PROPOSED AMENDMENT: (iv) a Stockholder desires to sell all, or a portion, of his or her Stock pursuant to a bona fide arm’s-length transaction that is not otherwise prohibited by this Agreement, or any other transfer; provided, however, that for the avoidance of doubt, this clause (iv) shall not apply to any Business Combination;

The full text of the proposed amendments to the Stockholders Agreement, along with a copy of the Stockholders Agreement, is attached to this prospectus/proxy statement as Annex D, and the description of the amendments set forth above is qualified in its entirety by reference to Annex D.

#### Rationale
Bancorp Financial is soliciting stockholder approval of the merger agreement, which, if approved and consummated, will result in Bancorp Financial merging with and into Old Second. Under the terms of the merger agreement, the Stockholders Agreement must be terminated as a condition to the closing of the merger.

The proposed amendments to the Stockholders Agreement are intended to facilitate the consummation of the merger by providing that the Stockholders Agreement will automatically terminate upon the closing of the merger. This approach ensures an efficient and enforceable method for satisfying the termination condition in the merger agreement, without requiring a separate action at or after closing. This approach provides certainty to all parties of the merger, supports transaction timing, and avoids potential post-closing disputes or administrative delays.

In addition, the proposed revision to the definition of “Transfer” introduces the defined term “Business Combination” to ensure consistent usage and interpretation throughout the Stockholders Agreement. This change does not alter the substantive scope of permitted transfers under the Stockholders Agreement but improves clarity and alignment