Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 85

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 85
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 been   
 adjudicated in such action, to have been derelict in the performance of such director’s duties. The right to indemnification under the American National articles includes a right to reimbursement of the amounts paid and expenses incurred in 
 settling, compromising, or otherwise adjusting any such action when such disposition appears to be in the best interest of American National.                                                                                                    |

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|                           |     | Associated                                                                                                                                                                                                                                                |     | American National                                                                                             |
|                           |     | determined in accordance with Section 180.0855 of the WBCL or any successor thereto. In addition, the Associated bylaws provide that Associated may purchase and maintain insurance on behalf of any person who is a director,                            
 officer, employee or agent of Associated against any liability asserted against or incurred by the individual in any such capacity or arising out of his status as such, regardless of whether Associated is required or authorized to indemnify or allow 
 expenses to the individual.                                                                                                                                                                                                                               |     |                                                                                                               |
| Anti-Takeover Provisions: |     | Under Section 180.1141 of the WBCL, a resident domestic corporation is prohibited from engaging in a business combination with an interested stockholder for a period of three years after the interested stockholder’s stock                             
 acquisition date, unless (i) the board of directors of the resident domestic corporation has approved, before the interested stockholder’s stock acquisition date, that business combination or the purchase of stock made by the interested              
 stockholder on that stock acquisition date, (ii) the business combination is approved by the affirmative vote of the holders of a majority of the voting stock not beneficially owned by the interested stockholder at a meeting called for that          
 purpose, or (iii) the business combination meets certain conditions set forth in Section 180.1141(2)(c) of the WBCL. In addition, the Associated articles require the affirmative vote of the holders of at least 80% of then-outstanding                 
 capital stock entitled to vote on the election of directors, voting for such purpose as one class.                                                                                                                                                        |     | Neither the American National articles nor the American National bylaws include any anti-takeover provisions. 
 Moreover, the Nebraska Shareholders Protection Act is not applicable to American                              
 National because American National is not a public corporation.                                               |

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LEGAL MATTERS

The validity of the shares of Associated common stock to be issued by Associated in connection with the Merger will be passed upon by Randall
J. Erickson, Executive Vice President, General