Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 192

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 192
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 or part out of or pertaining to the fact that he or she was a director or officer of ESSA or is or was serving at the request of ESSA as a director, officer, employee or other agent of any other
organization or in any capacity with respect to any employee benefit plan of ESSA or ESSA Bank, including without limitation matters related to the negotiation, execution and performance of the merger agreement or any of the related transactions, to
the fullest extent which such person would have been entitled to indemnification under ESSA’s or ESSA Bank’s charter and bylaws prior to the effective date of the merger.

In addition, CNB has agreed to maintain a directors’ and officers’ liability insurance policy for six years after the effective time of the merger
to cover the present officers and directors of ESSA with respect to claims against such directors and officers arising from facts or events that occurred before the effective time of the merger; provided that, CNB is not obligated to pay more than
250% of ESSA’s annual premiums for such coverage.

Material U.S. Federal Income Tax Consequences of the Merger

The following discussion is a general summary of material U.S. federal income tax consequences of the holding company merger (as defined below) to
U.S. holders (as defined below) of ESSA common stock that exchange their shares of ESSA common stock for merger consideration. The U.S. federal income tax laws are complex, and the tax consequences of the holding company merger may vary depending
upon each shareholder’s individual circumstances or tax status. The following discussion is based upon the Code, temporary and final treasury regulations promulgated under the Code, and rulings and other administrative interpretations and
practices of the IRS, and court decisions, all as currently in effect, and all of which are subject to change, possibly with retroactive effect. This discussion does not address any U.S. federal taxes other than income taxes or state, local or
non-U.S. taxes. No attempt has been made to comment on all U.S. federal income tax consequences of the holding company merger that may be relevant to ESSA shareholders. The tax discussion set forth below is included for general information only. It
is not intended to be, nor should it be construed to be, legal or tax advice to a particular ESSA shareholder.

This discussion addresses only those ESSA
shareholders that hold their ESSA common stock as a capital asset within the meaning