Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 111

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 111
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 Old Second will use commercially reasonable efforts to cause any pre-existing condition, eligibility waiting period, or other limitations or exclusions otherwise applicable under such plans to new employees not to apply to a continuing employee or their covered dependents who were covered under a similar Bancorp Financial health or benefit plan at the effective time of the merger.

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TABLE OF CONTENTS

Old Second has agreed that any continuing employees who are not parties to an agreement that provides for severance or other compensation upon a change in control, who remain employed by Old Second or any of its subsidiaries as of the effective time of the merger, and whose employment is terminated by Old Second or any of its subsidiaries other than for cause prior to the first anniversary of the effective time of the merger, will receive the severance provided in the confidential disclosure memorandum.

Old Second has also agreed to pay stay bonuses to certain employees of Evergreen Bank Group mutually agreed upon by Old Second and Bancorp Financial following completion of the merger. In addition, simultaneously with the execution of the merger agreement, Darin Campbell entered into the form of the employment agreement and the form of compensation and benefits assurance agreement (collectively, the “employment agreements”) each attached to the merger agreement. For a discussion of the employment agreements with Mr. Campbell, see the section entitled “Interests of Bancorp Financial and Executive Officers in the Merger” beginning on page 56 of this proxy statement/prospectus. Bancorp Financial may, but is not required, to submit a vote to its stockholders to give a right to certain disqualified individuals (as defined in Section 280G(c) of the Code) to receive payments that could be deemed parachute payments under Section 280G(b) of the Code.

Director and Officer Indemnification and Insurance

The merger agreement provides that the combined company will indemnify, defend and hold harmless, to the fullest extent permitted by applicable law and the governing documents of Bancorp Financial as in effect on the date of the merger agreement (including provisions related to the advancing of expenses incurred in the defense of any litigation), all present and former directors and officers of Bancorp Financial and its subsidiaries against any liabilities arising out of actions or omissions arising out of the former officer’s or director’s service or services as directors, officers, employees, or agents of Bancorp Financial or, at Bancorp Financial’s request, of another entity or enterprise occurring at or prior to the effective time.

The merger agreement further provides that the surviving corporation will use its reasonable best