Company: NWBI
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001193125-25-049104
Chunk: 67

Company: Northwest Bancshares, Inc.
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 67
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 set at 90% of Mr. Torchio’s base salary and 65% of Mr. Schosser’s base salary. Such equity grant will be made under and subject to the 2022 Equity Incentive Plan (or any replacement or successor omnibus equity incentive plan sponsored by the Company) and shall include terms (including, without limitation, terms relating to vesting and forfeiture upon termination) which shall be determined by the Compensation Committee in its sole discretion. In the event the Company or Northwest Bank terminates their employment for reasons other than for “just cause” (as defined in the employment agreements), or if they resign due to “good reason” (as defined in the employment agreements, and which includes the Company’s provision of a non-renewalof the term of employment), with or without a “change in control” (as defined in the employment agreements), within 30 days after the executive’s termination of employment, the Company or Northwest Bank (or any successor) will pay the executive a cash lump sum equal to, subject to the execution and non-revocationof a release of claims against the Company:

| • |     | the sum of three times the highest rate of base salary and three times the highest rate of cash bonus paid during the prior three years; and |

| • |     | continuation of medical and dental coverage for 36 months from the date of termination, unless the executive obtains similar benefits from a new employer. |

To the extent necessary, in order to avoid penalties under Section 409A, such severance benefits shall be paid in a lump sum on the first day of the seventh month following the date of termination. During the employment term and thereafter, the executive shall be covered under a standard directors’ and officers’ liability insurance policy and indemnified against all expenses and liabilities reasonably incurred in connection with or arising out of any action in which the executive may have been involved by reason of having been a director or officer of the Company or Northwest Bank. The employment agreements provide that, during the executive’s employment and for the period of 12 months following a termination of employment for any reason, Messrs. Torchio and Schosser shall not provide services to (whether as an employee, director, consultant, adviser or otherwise) or engage in or assist others to engage in, or own, manage, operate or control, any entity that conducts depository, lending or similar business activities in states in which the Bank, the Company or any of their respective subsidiaries is licensed (or in the future obtains