Company: NWBI
Filing Date: 2025-01-27
Form Type: S-4
Source: 0001193125-25-012768
Chunk: 92

Company: Northwest Bancshares, Inc.
Filing Date: 2025-01-27
Form: S-4
Chunk 92
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 mail to each holder of Penns Woods common stock a letter of transmittal for use in the exchange along with
instructions explaining how to surrender Penns Woods common stock certificates to the Exchange Agent. Penns Woods shareholders that surrender their certificates to the Exchange Agent, together with a properly completed letter of transmittal, duly
executed, will receive (i) the new certificates representing that number of whole shares of Northwest common stock to which such former holder of Penns Woods common stock shall have become entitled, and (ii) a check representing the amount
of any cash in lieu of a fractional share and any dividends or distributions which such holder has the right to receive pursuant to the Merger Agreement. The old certificates of Penns Woods common stock will have been cancelled. No interest will be
paid or accrued on the Northwest common stock or cash in lieu of fractional shares, dividends, or distributions payable to holders of the former Penns Woods certificates. Penns Woods shareholders that do not exchange their Penns Woods common stock
will not be entitled to receive the Merger Consideration or any dividends or other distributions by Northwest until their certificates are surrendered. After surrender of the certificates representing Penns Woods common stock, any unpaid dividends
or distributions with respect to Northwest common stock represented by the certificates will be paid without interest.

If any Penns Woods
stock certificate has been lost, stolen, or destroyed, the transmittal materials received from the Exchange Agent will explain the steps that the Penns Woods shareholder must take including the posting by such shareholder of a bond in such amount as
Northwest or the Exchange Agent may determine is reasonably necessary as indemnity against any claim that may be made against it with respect to such certificate.

Indemnification and Directors’ and Officers’ and Company Liability Insurance

After the Effective Time for a period of six (6) years and subject to compliance with applicable state and federal laws, Northwest will
indemnify each person who served as a director or officer of Penns Woods or its

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subsidiaries on or after December 16, 2024 (the date of the Merger Agreement) and before the Effective Time to the fullest extent provided by Penns Woods’ governing documents, from and
against expenses, including attorneys’ fees, judgments, fines and amounts paid in settlement in connection with any threatened, pending or completed action, suit or proceeding by reason of the fact that the person was an officer or director of
Penns Woods or any of its subsidiaries or serving as a