Company: ONBPP
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001104659-25-007256
Chunk: 39

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-29
Form: S-4/A
Chunk 39
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TABLE OF CONTENTS

when making its decision to approve the merger agreement and in recommending that Bremer shareholders vote in favor of approving and adopting the merger agreement.

For a more complete description of these interests, see “The Mergers — Interests of Bremer’s Directors and Executive Officers in the Mergers.”

Termination of the merger agreement could negatively impact Bremer.

If the merger agreement is terminated, there may be various adverse consequences, and Bremer may experience negative reactions from its customers and employees. If the merger agreement is terminated under certain circumstances, Bremer may be required to pay Old National a termination fee of $55,000,000.

Old National and Bremer will be subject to business uncertainties and contractual restrictions while the mergers are pending, which could disrupt Old National’s and Bremer’s relationships with their customers, suppliers, business partners and others, as well as their operating results and business generally.

Whether or not the mergers are ultimately consummated, uncertainty about the effect of the mergers on employees and customers may have an adverse effect on Old National and Bremer and, consequently, the combined company. These uncertainties may impair Old National’s and Bremer’s ability to attract, retain and motivate key personnel until the mergers are completed, and could cause customers and others that deal with Old National or Bremer to seek to change existing business relationships with Old National or Bremer, respectively. In addition, subject to certain exceptions, Bremer and Old National have each agreed to operate its business in the ordinary course consistent with past practice in all material respects and use reasonable best efforts to preserve its business organization, employees and business relationships prior to the closing of the mergers. See “The Merger Agreement — Covenants and Agreements” for a description of the restrictive covenants applicable to Bremer and Old National.

The shares of Old National common stock to be received by Bremer shareholders as a result of the mergers will have different rights from the shares of Bremer common stock.

In the mergers, Bremer shareholders will become Old National shareholders and their rights as Old National shareholders will be governed by Indiana law and the governing documents of Old National following the mergers. The rights associated with Old National common stock are different from the rights associated with Bremer common stock. See “Comparison of Shareholders’ Rights” for a discussion of the different rights associated with Old National common stock.

Old National and Bremer are expected to incur significant costs related to the merg