Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 133

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 133
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 contribution plan in 2022, in which Mr. Lima and Mr. Dixon participate, and pursuant to which CNB agreed to contribute an amount to the defined contribution plan each year, on January 1, until their service with CNB terminated, equal to 20% of Mr. Lima’s annual base salary and 10% of Mr. Dixon’s annual base salary. In connection with the amendments to the SERP described above and in order to ensure consistency of benefits for similarly situated executives, effective September 30, 2023, this plan was frozen to prohibit future contributions and fully vested all contributions for Mr. Lima through such date. Payments of vested amounts under the defined contribution plan will be made or commence within 90 days following the later of termination date of service from CNB or attainment of age 65, provided that if Mr. Lima or Mr. Dixon becomes disabled, then payments will be made or commence within 90 days following the disability event. Notwithstanding the previous sentence, if Mr. Lima or Mr. Dixon dies prior to payments commencing under the defined contribution plan, then they will receive payment of their vested amounts in a lump sum within 90 days following death, and if their service with CNB terminates within one year following a change in control of CNB, then they will receive payment of the vested amounts in a lump sum within 90 days following the termination date of service. Amounts contributed to the defined contribution plan by CNB will be credited with earnings each December 31 at a fixed rate of 4%. The defined contribution plan is considered an unfunded plan for tax purposes and a “top hat” plan for purposes of ERISA. All obligations arising under the plan are payable from the general assets of CNB. Termination and Change in Control Benefits As discussed under the sections above entitled “CNB Compensation Discussion and Analysis—2024 Compensation Program and Pay Decisions” and “—Supplemental Executive Retirement Plan” beginning on pages 75 and 96, respectively, CNB provides additional benefits to the NEOs in the event of retirement or termination of employment in certain circumstances and in the event of a change in control. The table below summarizes and quantifies the estimated payments under the agreements, assuming a termination event would have occurred on December 31, 2024.

| NEO                                     
 Michael D. Peduzzi                      |     | No Change In Control 
 Event                
 Termination          
 Without              
 Cause(8)             |           |     | Termination 
 Following   
 Detrimental