Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 94

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 94
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 the Effective Date (and any new directors whose election or nomination has been approved by a majority of such directors) cease for any reason to constitute a majority of the members of such board of directors then in office; |

| • |     | CNB is consolidated or merged with another entity, regardless of whether CNB is the surviving entity, and excluding transactions in which the holders of securities that represented 100% of the combined voting power of the securities of CNB immediately prior to such transaction, own, directly or indirectly, at least a majority of the combined voting power of the securities of the surviving entity (or parent thereof) immediately after such transaction; |

| • |     | all or substantially all of the assets of CNB and its subsidiaries are, directly or indirectly, sold, leased, transferred, or otherwise conveyed to another person; or |

| • |     | the liquidation, winding up, or dissolution of CNB. |

Amendment, Suspension, and Termination.The Committee may amend or suspend the 2025 Plan at any time; provided that no amendment or suspension may materially impair the rights or obligations under outstanding awards, without the consent of the grantee. CNB’s shareholders must approve any amendment to the 2025 Plan to the extent determined by the CNB Board of Directors or if such approval is required under applicable law (including the NASDAQ regulations). CNB’s shareholders also must approve any amendment that changes the no re-pricingrules, the option exercise price rules, or the SAR exercise price rules. The CNB Board of Directors may terminate the 2025 Plan at any time; provided that no termination may materially impair the rights or obligations under outstanding awards, without the consent of the grantee. No Repricing.Except in connection with certain corporate transactions involving CNB, CNB may not: (i) amend the terms of outstanding options or SARs to reduce the exercise price of such outstanding options or SARs; (ii) cancel or assume outstanding options or SARs in exchange for, or substitution of, options or SARs with an exercise price that is less than the exercise price of the original options or SARs; or (iii) cancel or assume outstanding options or SARs with an exercise price above the then-current fair market value in exchange for cash, awards, or other securities, in each case, unless such action is subject to and approved by CNB’s shareholders. Summary of U.S. Federal Income Tax Consequences The U.S. federal income tax consequences of awards under the