Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 179

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 179
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 executive’s annual base salary as in effect as of immediately prior to the Change in Control, (B) the executive’s target annual bonus opportunity as in effect as of immediately prior to the Change in Control, or (C) the executive’s long-term incentive opportunity as in effect as of immediately prior to the Change in Control, (iii) a relocation following the Change in Control of the executive’s principal place of business to a location that is outside a 50-mile radius from the executive’s principal place of business immediately prior to the Change in Control, not including required travel on Mechanics’ business to an extent substantially consistent with the executive’s business travel obligations as of immediately prior to the Change in Control, (iv) any material breach by Mechanics of any provision of the Change in Control Agreement or (v) any failure by Mechanics to obtain the assumption of the Change in Control Agreement by any successor or assign of Mechanics, provided that Good Reason is not available until the executive provides notice and Mechanics has an opportunity to cure. “Change in Control” is defined as (i) the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (other than (x) Ford Financial or a subsidiary of Mechanics immediately prior to such acquisition, (y) any employee benefit plan (or related trust) sponsored or maintained by Mechanics or any of its subsidiaries or (z) any other person of which a majority of its voting power is beneficially owned, directly or indirectly by Mechanics immediately prior to such acquisition) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50%, indirectly or directly, of the voting

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securities in Mechanics, (ii) an amalgamation, a merger, consolidation, recapitalization or similar business combination transaction of Mechanics or one of its subsidiaries with any other entity (other than Ford Financial), following which the voting securities of Mechanics that are outstanding immediately prior to such transaction cease to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or the ultimate parent thereof), directly or indirectly, more than 50% of the voting securities of Mechanics or ultimate parent thereof or, if Mechanics is not the surviving entity, such surviving entity or the ultimate parent thereof, or (iii) a sale, transfer or other disposition of all or substantially all of the assets of Mechanics to any person or entity other than (x