Company: MCHB
Filing Date: 2025-09-02
Form Type: S-8
Source: 0001140361-25-033639
Chunk: 3

Company: Mechanics Bancorp
Filing Date: 2025-09-02
Form: S-8
Chunk 3
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 to believe the conduct was unlawful. A director may not be indemnified in connection with a proceeding by or in the right of the corporation in which the director was found liable to the corporation, or a proceeding in which the director was found to have improperly received a personal benefit. Washington law provides for mandatory indemnification of directors for reasonable expenses incurred when the indemnified party is wholly successful in the defense of the proceeding. Washington law permits a director of a corporation who is a party to a proceeding to apply to the courts for indemnification or advancement of expenses, unless the articles of incorporation provide otherwise, and the court may order indemnification or advancement of expenses under certain circumstances set forth in the statute. Washington law further provides that a corporation may, if authorized by its articles of incorporation or a bylaw or resolution adopted or ratified by the shareholders, provide indemnification in addition to that provided by statute, subject to certain conditions set forth in the statute. Mechanics’ articles of incorporation require Mechanics to indemnify and hold harmless to the fullest extent permitted by applicable law, any person who was or is threatened to be made a party to or is otherwise involved in any actual or threatened action, suit, or proceeding, whether civil, criminal, administrative, or investigative, by reason of the fact that he or she is or was a director or officer of the corporation or, being or having been a director or officer, he or she is or was serving at the request of the corporation as a director, trustee, officer, employee, or agent of another corporation or a partnership, joint venture, trust, or other enterprise, including service with respect to employee benefit plans, whether the basis of such proceeding is an alleged action in an official capacity as a director, trustee, officer, employee, or agent or in any other capacity while serving as director, trustee, officer, employee, or agent. This right to indemnification also includes the right to have Mechanics pay the expenses incurred in defending any such proceeding in advance of its final disposition. Mechanics’ bylaws provide that Mechanics may maintain insurance at its own expense to protect itself and any indemnitee against any expense, liability, or loss against which Mechanics has the power to indemnify. Mechanics has entered into or may enter into indemnification agreements with all of its current and former directors and has entered into or may enter into indemnification agreements with certain of Mechanics’ current and former executive officers. Subject to certain limitations, these agreements require Mechanics to indemnify these individuals to the fullest extent permitted under applicable law against liabilities that may arise by