Company: OSBC
Filing Date: 2025-04-23
Form Type: S-4
Source: 0001104659-25-037832
Chunk: 432

Company: OLD SECOND BANCORP INC
Filing Date: 2025-04-23
Form: S-4
Chunk 432
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 Stockholder dies; or

(ii) the Stockholders’ Stock becomes subject to a right of involuntary transfer by operation of law; or

(iii) a Stockholder declares or is involuntarily placed into bankruptcy; or

(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; or

(v) a Stockholder violates or threatens to violate this Agreement;

then (A) the Founding Directors shall have the right to purchase the Stock owned or proposed to be transferred by such Stockholder at the Purchase Price described below (the “First Refusal Rights”), (B) to the extent not exercised by the Founding Directors, the Directors shall have the second right to exercise such First Refusal Rights, and (C) to the extent not exercised by the Founding Directors or the Directors, the Company shall have the third right to exercise such First Refusal Rights.

The transferring Stockholder shall provide the Company with prior written notice of any proposed sale or other transfer described in subparagraph 4(a)(iv) above, or that an event described in subparagraph 4(a)(ii), (iii) or (v) will or is likely to occur, or if prior notice of an event described in subparagraph 4(a)(ii), (iii) or (v) could not be so given, then the transferring Stockholder shall provide such notice as soon as possible and in no event later than five (5) business days after such event. In the case of an event described in subparagraph 4(a)(i) above, the Stockholder’s estate shall provide written notice within thirty (30) calendar days after the Stockholder’s death (in each case a “Transfer Notice”). The Transfer Notice shall describe the event and, in the case of a proposed transfer for consideration, the terms of the proposed transfer.

(b)

#### Exercise of First Refusal Rights
.

(i) Upon receipt of the Transfer Notice or delivery of the notice pursuant to subparagraph 4(a), the Founding Directors shall have fifteen (15) business days (the “Founding Director Exercise Period”) in which to provide the transferring Stockholder with notice of exercise of all or a portion of their First Refusal Rights pursuant to this Paragraph 4. Unless otherwise agreed by the Founding Directors, the subscribing Founding Directors shall purchase the shares in proportion to the number of shares of Stock owned by each of the subscribing Founding