Company: NWBI
Filing Date: 2025-01-27
Form Type: S-4
Source: 0001193125-25-012768
Chunk: 102

Company: Northwest Bancshares, Inc.
Filing Date: 2025-01-27
Form: S-4
Chunk 102
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 | amend the Northwest governing documents in a manner that would adversely affect the holders of Penns Woods common       
 stock, or adversely affect the holders of Penns Woods common stock relative to other holders of Northwest common stock; |

| • |     | not take, or fail to take, any action that would reasonably be expected to prevent or impede the Merger from    
 qualifying as a “reorganization” within the meaning of Section 368(a) of the Internal Revenue Code, as amended; |

| • |     | take any action that is intended or is reasonably likely to result in any of its representations or warranties                                                                                                                                       
 set forth in the Merger Agreement becoming materially inaccurate at any time at or prior to the Effective Time, any of the conditions to consummation of the Merger in the Merger Agreement not being satisfied, a violation of any provision of the 
 Merger Agreement except, in each case, as may be required by applicable law or by any governmental authority, or a delay in the consummation of the transactions contemplated by the Merger Agreement; or                                            |

| • |     | agree or commit to do any of the foregoing. |

Expenses of the Merger Northwest and Penns Woods are each required to bear their own expenses incurred by it in connection with the Merger Agreement and the transactions contemplated by the Merger Agreement. Termination of the Merger Agreement Termination by mutual consent. Northwest and Penns Woods may mutually consent to terminate the Merger Agreement and abandon the Merger at any time before the Merger is effective, if the boards of directors of Northwest and Penns Woods both approve the termination by vote of a majority of the members of their entire boards of directors. 74

Termination by either Northwest or Penns Woods. The Merger Agreement may be terminated at any time prior to the Effective Time by Northwest or Penns Woods upon written notice to the other party, if either board of directors so determines by vote of a majority of the members of the entire board of directors, in the event of the following circumstances:

| • |     | (i) a breach by the other party of any representation or warranty contained in the Merger Agreement, which breach                                                                                                                           
 cannot be or has not been cured within forty-five (45) days after the giving of written notice to the breaching party of such breach; or (ii) a breach by the other party of any covenants or agreements contained in the Merger Agreement, 
 which breach cannot be or has not been