Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 35

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 35
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 merger has been completed, and either company can terminate the merger agreement if:

| • |     | any regulatory approval required for consummation of the merger and the other transactions contemplated by the merger agreement has been denied by final, nonappealable action of any regulatory authority, or an application for regulatory approval has been permanently withdrawn at the request of a governmental authority; |

| • |     | the required approval of the CNB share issuance proposal by CNB shareholders or the required approval of the ESSA merger proposal by ESSA shareholders is not obtained; |

| • |     | the other party materially breaches any of its representations, warranties, covenants or other agreements set forth in the merger agreement (provided that the terminating party is not then in material breach of any representation, warranty, covenant or other agreement contained in the merger agreement), which breach is not cured within 30 days of written notice of the breach, or by its nature cannot be cured prior to the closing of the merger, and such breach would entitle the non-breaching party not to consummate the merger; or |

In addition, CNB may terminate the merger agreement if:

| • |     | ESSA breaches the non-solicitation provisions in the merger agreement; |

| • |     | the ESSA Board of Directors: |

| • |     | fails to recommend approval of the merger agreement, or withdraws, modifies or changes such recommendation in a manner adverse to CNB’s interests; or |

| • |     | recommends, proposes or publicly announces its intention to recommend or propose to engage in an acquisition transaction with any person other than CNB or any of its subsidiaries; or |

| • |     | ESSA fails to call, give notice of, convene and hold its special meeting. |

ESSA may terminate the merger agreement, subject to its compliance with the merger agreement, if ESSA has received an acquisition proposal, and the ESSA Board of Directors has made a determination that such proposal is a superior proposal and has determined to accept such proposal. Termination Fee(Page 171) ESSA has agreed to pay CNB a termination fee of $8.8 million if:

| • |     | CNB terminates the merger agreement as a result of: |

| • |     | ESSA materially breaching the non-solicitation provisions in the merger agreement; |

| • |     | ESSA materially breaching the shareholder approval provisions in the merger agreement by failing to call