Company: OSBC
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001558370-25-004277
Chunk: 18

Company: OLD SECOND BANCORP INC
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 18
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. Ms. York and other Audit Committee members met on a quarterly basis during 2024 with our independent registered public accounting firm. To review our annual Audit Committee report, please see “ Proposal 6 — Ratification of Our Independent Registered Public Accountants — Audit Committee Report.” Compensation Committee The Compensation Committee reviews the performance of our executive officers and establishes their compensation levels. The committee also has the authority, among other things, to:

| ● | review and approve the compensation of our chief executive officer and other executive officers; |

| ● | approve performance goals and objectives relevant to the chief executive officer and other executive officers and evaluate, at least annually, the performance of the chief executive officer and other executive officers in light of those goals and objectives; review and approve (and administer) supplemental retirement benefit plans, employment agreements, and any severance arrangements or plans, including any benefits provided in connection with a change in control for our executive officers; |

| ● | administer our incentive compensation plans and equity-based plans; |

| ● | in consultation with our chief executive officer, review our management succession planning; and |

| ● | review and evaluate the risks arising from our compensation policies and practices to determine whether our incentive compensation policies and practices are likely to have a material adverse effect on the Company. |

**The committee’s duties, responsibilities and functions are described more fully in its charter, which is available on our website at www.oldsecond.com, in the “Governance Documents” section under “Investor Relations.” You can request a copy of the committee’s charter by sending a written request to the Corporate Secretary at 37 South River Street, Aurora, Illinois 60507, or by sending a request via e-mail to corporatesecretary@oldsecond.com. The members of our Compensation Committee during 2024 were Mr. McLean (who served as Chair), Mr. Finn, Mr. Klaeser, Mr. Kotche, Mr. Ladowicz, and Ms. York. The board determined that each member of the committee was an independent director under NASDAQ’s listing requirements. The Compensation Committee met four times in 2024. The Compensation Committee has the authority under its charter to select, or receive advice from, advisors (including compensation consultants). In 2024, the committee continued its engagement of McLagan, which is part of the Human Capital Solutions practice at Aon plc (“McLagan”), as independent advisors to assist the committee in determining and evaluating executive compensation. The Compensation Committee assessed the independence of McLagan taking into