Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 483

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 483
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 Section 6.5(d) of the Parent Disclosure Schedule) or by the applicable Continuing Employee for Good Reason (as defined in Section 6.5(d) of the Parent Disclosure Schedule, solely to the extent the Continuing Employee is a party to a change in control agreement (or similar agreement providing change in control payment), any Parent Equity Award or any Deferred Compensation Agreement in which a Good Reason provision exists) as of the date hereof, then Company shall cause a prorated Closing Year Bonus to be paid based on target performance levels to such Continuing Employee within 60 days following the applicable Continuing Employee’s termination of employment, determined based on the product of the applicable Closing Year Bonus (at target) multiplied by a fraction, the numerator of which is the number of days served by the applicable Continuing Employee during the applicable fiscal year and the denominator of which is 365, provided that any prorated Closing Year Bonus shall be subject to execution and non-revocation of a release of claims in a form reasonably satisfactory to Company and no such prorated Closing Year Bonus shall be paid to the extent that such payment would result in any duplication of any payments otherwise payable (including under a severance plan or individual employment or severance agreement) upon termination to such Continuing Employee.

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#### TABLE OF CONTENTS
(e) Notwithstanding the foregoing, if requested by Company not less than ten (10) business days prior to the Closing Date, Parent shall take such corporate actions (including applicable resolutions of the board of directors of Parent or the appropriate committee thereof) as are necessary or appropriate to terminate each Parent Benefit Plan that includes a tax-qualified defined contribution retirement arrangement that is subject to Section 401(k) of the Code (collectively, the “ Parent 401(k) Plan ”), effective as of the day prior to the Closing Date. The form and substance of all resolutions and other actions taken in connection with the foregoing termination shall be subject to the reasonable review and comment of Company. If Company requests that the Parent 401(k) Plan be terminated, (i) Parent shall provide Company with evidence that such plan has been terminated (the form and substance of which shall be subject to reasonable review and comment by Company) not later than two (2) days immediately preceding the Closing Date, (ii) Continuing Employees who participated in the Parent 401(k) Plan shall be eligible to participate, effective as of the Effective Time, in the corresponding tax-qualified defined contribution plan sponsored or maintained