Company: ONBPP
Filing Date: 2025-02-03
Form Type: 424B3
Source: 0001104659-25-008430
Chunk: 124

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-03
Form: 424B3
Chunk 124
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 will be relieved or released from any liabilities or damages arising out of its fraud or willful and material breach of any provision of the merger agreement and (ii) designated provisions of the merger agreement will survive the termination, including those relating to payment of fees and expenses, the confidential treatment of information and the termination fee described below.

#### Termination Fee
Bremer will pay Old National a termination fee equal to $55,000,000 in cash (the “termination fee”), if the merger agreement is terminated in the following circumstances:

•

in the event that after the date of the merger agreement, a bona fide acquisition proposal has been made known to senior management or the Bremer board of directors, or has been made directly to Bremer’s shareholders generally, or any person has publicly announced (and in each case, not withdrawn at least two business days prior to the Bremer special meeting) an acquisition proposal with respect to Bremer, and thereafter (i) the merger agreement is terminated (a) by either Old National or Bremer because the first step merger has not been completed prior to the termination date (and Bremer has not obtained shareholder approval of the merger proposal) and all other conditions for Bremer to close the mergers had been satisfied or were capable of being satisfied at a time prior to such termination or (b) by Old National as a result of a willful breach of a representation, warranty, covenant or other agreement in the merger agreement by Bremer that would constitute the failure of a closing condition and that has not been cured during the permitted time period, or by its nature cannot be cured during such period, and (ii) prior to the date that is 12 months after the date of such termination, Bremer enters into a definitive agreement with respect to an acquisition proposal or consummates a transaction with respect to an acquisition proposal (in each case, with references to “25%” in the definition of “acquisition proposal” instead referring to “50%”); or

•

if the merger agreement is terminated by Old National because prior to receipt of Bremer shareholders’ approval of the merger proposal, (i) the Bremer board of directors has made a

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recommendation change or (ii) Bremer or the Bremer board of directors has breached its obligations relating to shareholder approval or the non-solicitation of acquisition proposals in any material respect.

Except in the case of actual and intentional fraud or willful and material breach, the maximum aggregate