Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 406

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 406
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iving Entity ”).

WHEREAS, in furtherance thereof, the Board of Directors of Company has approved the transactions contemplated by this Agreement, including the Merger, and resolved to submit this Agreement to its shareholders for approval and to recommend that its shareholders approve this Agreement and the transactions contemplated hereby, including the Merger, and the principal terms thereof, in accordance with the applicable provisions of the California Financial Code (the “ CFC ”) and the California General Corporation Law (the “ CGCL ”).

WHEREAS, in furtherance thereof, the Board of Directors of Parent Bank has approved the transactions contemplated by this Agreement, including the Merger, and resolved to submit this Agreement to Parent, as its sole shareholder, for approval and to recommend that Parent, as its sole shareholder, approve this Agreement and the transactions contemplated hereby, including the Merger, in accordance with the applicable provisions of the Washington Commercial Bank Act (the “ WCBA ”) and the Washington Business Corporation Act (as amended, the “ WBCA ”).

WHEREAS, in furtherance thereof, the Board of Directors of Parent has approved the transactions contemplated by this Agreement, including the issuance of Parent Common Stock (as defined below) as Merger Consideration (as defined below) and the Parent Articles Amendment (as defined below), and resolved to submit the Parent Share Issuance (as defined below) and the Parent Articles Amendment to its shareholders for approval and to recommend that its shareholders approve the Parent Share Issuance and the Parent Articles Amendment.

WHEREAS, it is contemplated that as soon as practicable, and in no event later than twenty-four (24) hours, following the execution of this Agreement, and as an inducement to and condition of the Parent Parties’ willingness to enter into this Agreement, certain shareholders of Company (each solely in his or her capacity as a shareholder of Company), representing holders of the issued and outstanding shares of Company Common Stock sufficient to obtain the Requisite Company Vote, will enter into support agreements in substantially the forms set forth in Exhibit A , as applicable (each, a “ Support Agreement ”), pursuant to which each such shareholder will, among other things, agree to vote by written consent all of their shares of Company Common Stock in favor of the approval of this Agreement and the transactions contemplated hereby, including the Merger.

WHEREAS, concurrently with the execution of this Agreement, Parent, Company and certain shareholders of Company and their respective affiliates have entered into a registration rights agreement (the “ Registration Rights Agreement ”), which shall become effective as