Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 116

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 116
---
orp Financial, if its board of directors determines, in accordance with its fiduciary duties and after compliance with its obligations under the merger agreement, to enter into a definitive agreement for a superior proposal, provided that Bancorp Financial is not in breach of its non-solicitation and stockholder meeting obligations under the merger agreement.

#### Effect of Termination
If the merger agreement is terminated, it will become void and have no effect, except that (1) Bancorp Financial and Old Second will remain liable for any liabilities or damages arising out of its fraud or willful and material breach of any provision of the merger agreement and (2) designated provisions of the merger agreement will survive the termination, including those relating to any payment of a termination fee and the confidential treatment of information.

#### Termination Fee
Bancorp Financial will pay Old Second a termination fee of $8,500,000 by wire transfer of immediately available funds, which we refer to as the termination fee, if the merger agreement is terminated in the following circumstances:

•

in the event that the merger agreement is terminated by Old Second prior to Bancorp Financial obtaining stockholder approval for the merger because (i) Bancorp Financial has materially breached its obligations to call, give notice of, and hold the Bancorp Financial stockholders meeting, (ii) Bancorp Financial has materially breached its non-solicitation obligations or (iii) the Bancorp Financial board of directors has failed to recommend that Bancorp Financial stockholders adopt and approve the merger proposal or has made a recommendation change;

•

in the event that the merger agreement is terminated by Bancorp Financial to pursue a superior proposal, provided that Bancorp Financial has not breached its obligations to call, give notice of, and hold the Bancorp Financial stockholders meeting and Bancorp Financial has not breached its non-solicitation obligations; or

•

in the event that (i) after the date of the merger agreement, a bona fide acquisition proposal has been made known to Bancorp Financial or any person has publicly announced (and not withdrawn) an acquisition proposal with respect to Bancorp Financial and (ii) thereafter, the merger agreement is terminated (A) by either Old Second or Bancorp Financial because the merger has not been completed prior to the termination date (and Bancorp Financial has not obtained stockholder approval of the merger proposal), (B) by Old Second as a result of a breach of a representation, warranty, covenant or other agreement in the merger agreement by Bancorp Financial that would constitute the failure of a closing condition and