Company: ASB
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000007789-25-000025
Chunk: 30

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 30
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, including vesting conditions, set by the Committee, and will vest in accordance with the terms of the

applicable award agreement. The term for SARs granted under the 2025 Plan is ten years from the grant date unless the

Committee otherwise specifies a shorter period in the applicable award agreement. A SAR granted under the 2025 Plan entitles

its holder to receive, at the time of exercise, an amount per share equal to the excess of the fair market value (at the date of

exercise) of a share of the Common Stock over a specified price, known as the exercise price, fixed by the Committee, which

will not be less than 100% of the fair market value of the Common Stock on the grant date of the SAR. Payment may be made

in cash, shares of the Common Stock, or other property, in any combination as determined by the Committee. The 2025 Plan

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permits the repricing of SARs (as described in the Stock Options section above) only with shareholder approval. The 2025 Plan

provides that DEUs will not be payable with respect to SARs.

Performance Metrics

The Committee may, at its discretion, establish performance criteria with respect to awards (other than stock options and SARs)

granted under the 2025 Plan. These performance metrics may be based upon any financial measures or other strategic business

criteria. The levels of performance required with respect to performance metrics may be expressed in absolute or relative levels

and may be based upon a set increase, set positive result, maintenance of the status quo, set decrease or set negative result. The

Committee has the sole discretion to alter the performance metrics, and the Committee may set one or more performance

metrics with respect to any applicable awards, which may differ between awards to participants.

In any calendar year, no participant may be granted awards that exceed, in the aggregate, 400,000 underlying shares of

Common Stock. This limit is higher than we expect to be needed for awards under the 2025 Plan. Further, under the 2025 Plan,

the annual limit on aggregate grant date value of shares that a non-employee director may receive under RSA or RSU awards is

$500,000.

**Change in Control**

Unless provided otherwise in an award agreement, a participant’s awards will vest, the relevant restrictions will lapse and the

relevant performance goals will be deemed to be met upon the involuntary termination of such participant’s employment or

service without cause