Company: ONBPP
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001104659-25-007256
Chunk: 121

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-29
Form: S-4/A
Chunk 121
---
 merger agreement, express or implied, is intended to or will confer upon any person, including any current or former employee, director or consultant of Bremer or any of its subsidiaries or affiliates, any right, benefit or remedy of any nature whatsoever under or by reason of the merger agreement.

Director and Officer Indemnification and Insurance

The merger agreement provides that from and after the effective time of the mergers, Old National will indemnify and hold harmless and will advance expenses as incurred, in each case to the extent (subject to applicable law) such persons were indemnified or entitled to advancement of expenses as of the date of the merger agreement by Bremer pursuant to the Bremer articles of incorporation, the Bremer bylaws, the governing or organizational documents of any subsidiary of Bremer or any contract in existence as of the date of the merger agreement and disclosed to Old National, each present and former director and officer of Bremer and its subsidiaries (in each case, when acting in such capacity) against any costs or expenses (including reasonable attorneys’ fees), judgments, fines, losses, damages or liabilities incurred in connection with any threatened or actual claim, action, suit, proceeding or investigation, whether civil, criminal, administrative or investigative, whether arising before or after the effective time of the mergers, arising out of the fact that such person is or was a director or officer of Bremer or any of its subsidiaries and pertaining to matters, acts or omissions existing or occurring at or prior to the effective time of the mergers, including matters, acts or omissions occurring in connection with the approval of the merger agreement and the transactions contemplated by the merger agreement. In the case of advancement of expenses, the Bremer indemnified party to whom expenses are advanced must provide an undertaking to repay such advances if it is ultimately determined that such Bremer indemnified party is not entitled to indemnification.

The merger agreement requires Old National, as the surviving entity in the mergers, to maintain for a period of six years after the effective time, Bremer’s existing directors’ and officers’ liability insurance policy, or policies with a substantially comparable insurer of at least the same coverage and amounts and containing terms and conditions that are no less advantageous to the insured, with respect to claims against the present and former officers and directors of Bremer or any of its subsidiaries arising from facts or events that occurred at or prior to the consummation of the mergers. However, Old National is not required to spend annually more than 300% of the current annual premium