Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 188

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 188
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972 in the case of
Mr. Olson, (ii) $1,742,041 in the case of Mr. Gray, (iii) $803,096 in the case of Mr. Grayuski, (iv) $1,559,934 in the case of Mr. Hangen and (v) $1,511,184 in the case of Mr. Muto.

Current Supplemental Executive Retirement Agreements with Messrs. Olson and Grayuski.Messrs. Olson and Grayuski are each participants
under the ESSA Bank Supplemental Executive Retirement Plan, effective as of January 1, 2005, with ESSA Bank (together, the “ESSA SERPs”). Each ESSA SERP is substantially identical and the normal retirement benefit under the ESSA SERP
is an annual benefit equal to 70% of the executive’s highest average compensation (determined over a consecutive five-year period within the last ten years of employment) reduced by the sum of
fifty percent of annual social security benefits, annualized benefits payable under ESSA Bank’s tax-qualified pension plan, and the annualized employer contributions to ESSA Bank’s 401(k)
Plan and employee stock ownership plan. Messrs. Grayuski and Olson are fully vested in the normal retirement benefit, and each executive is entitled to the present value of the normal retirement benefit, payable in a single lump sum cash
payment on the first day of the second month following the date on which Messrs. Grayuski and Olson terminate employment for a reason other than death or disability after attaining at least the age of 60 with 30 years of service with CNB Bank (or
their termination of employment within two years

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following a “change in control” (as defined in the ESSA SERP). If Messrs. Olson and Grayuski terminate employment within two years following a change in control, the normal retirement benefit, which is estimated to be $2,247,345 and $522,582, respectively, will be paid in a lump sum on the first day of the second month following the date of the effective time of the merger. Messrs. Grayuski and Olson are fully vested in the normal retirement benefit and their ESSA SERP benefits will not be enhanced as a result of the merger. Pro-RataBonuses.The merger agreement provides that ESSA may pay annual cash bonuses on a pro rata quarterly basis through the