Company: ASRV
Filing Date: 2025-06-16
Form Type: DEF 14A
Source: 0001140361-25-022675
Chunk: 11

Company: AMERISERV FINANCIAL INC /PA/
Filing Date: 2025-06-16
Form: DEF 14A
Chunk 11
---
 discretion, even if the beneficial owners do not provide voting instructions. However, each of Matter No. 1, Matter No. 2, and Matter No. 3 are not considered to be routine matters and brokers will not be entitled to vote on these proposals unless beneficial owners provide voting instructions. Accordingly, broker non-votes will not be counted toward the tabulation of votes on Matter No. 1, Matter No. 2, and Matter No. 3. |

Election of Directors . Generally, each person who is nominated to stand for election as director, whether such nomination is proposed by the Company or a shareholder, shall, as a condition to such nomination, tender an irrevocable resignation in advance of the meeting for the election of directors. Such resignation will be effective if, pursuant to the Bylaws, (i) the person does not receive a majority of the votes cast at the next meeting of shareholders held for the election of directors that is not a contested meeting of shareholders, and (ii) the Board accepts the resignation. For purpose of the Bylaws, a contested meeting of shareholders is any meeting of shareholders for which (a) the Secretary of the Company receives from a shareholder an advance notice indicating that such shareholder intends to propose at least one candidate for election as a director at a meeting of shareholders which notice is in compliance with the advance notice requirements for shareholder nominees for director set forth in the Bylaws and

6

(b) such notice of nomination has not been withdrawn by such shareholder on or before the tenth (10 th) calendar day before the Company files its definitive proxy statement for such meeting with the SEC (regardless of whether or not such proxy statement is thereafter revised or supplemented). If, at an uncontested meeting of shareholders, any nominee for election to the Board receives a plurality of the votes cast, but does not receive a majority of the votes cast, the nominating and corporate governance committee will make a recommendation to the Board on whether to accept the director’s resignation or whether other action should be taken. The nominating and corporate governance committee in making its recommendation, and the Board in making its decision, may each consider any factors or other information that it considers appropriate and relevant. The director not receiving a majority of the votes cast will not participate in the Committee’s recommendation or the Board’ decision regarding the tendered resignation. The independent members of the Board will consider the nominating and corporate governance committee’s recommendation and publicly disclose (by means of a press release, a filing with the SEC or other