Company: NWBI
Filing Date: 2025-02-20
Form Type: S-4/A
Source: 0001193125-25-030716
Chunk: 99

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-20
Form: S-4/A
Chunk 99
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 salaries and wages of employees of Penns   
 Woods and its subsidiaries not to exceed an aggregate average increase of more than 3.0% of the aggregate cost of all employee annual base salaries and wages, and (iii) pursuant to the Penns Woods performance-based cash incentive plan as 
 described in the section captioned “Employee Matters—Cash Incentive Plan” on page 50 of this proxy statement/prospectus.;                                                                                                                     |

| • |     | enter into, establish, adopt, amend, modify, make any contributions to or terminate (except (i) as may be                                                                                                                                              
 required by applicable law, (ii) as contemplated by the Merger Agreement, or (iii) pursuant to the regular annual renewal of insurance contracts) any compensation and benefit plan, including the equity incentive plan, or any other pension,        
 retirement, phantom stock, stock purchase, savings, profit sharing, deferred compensation, change in control, salary continuation, consulting, bonus, group insurance or other employee benefit, incentive or welfare contract (including related      
 administrative services contracts), plan or arrangement, or any trust agreement (or similar arrangement) related thereto, in respect of any director, consultant, officer or employee of Penns Woods or any of its subsidiaries, or take any action to 
 accelerate the payment of benefits or the vesting or exercisability of options, restricted stock, phantom stock or other compensation or benefits payable thereunder;                                                                                  |

| • |     | sell, transfer, mortgage, encumber or otherwise dispose of any of its material properties or assets or any                                                                                                                                              
 business to any person other than a wholly owned subsidiary, or cancel, release or assign any indebtedness of any person other than a wholly owned subsidiary or any claims against any person other than a wholly owned subsidiary, in each case other 
 than in the ordinary course, consistent with past practices, including any debt collection or foreclosure transactions;                                                                                                                                 |

71

| • |     | acquire (other than by way of foreclosures or acquisitions of control in a bona fide fiduciary capacity or in                                                                                                                                      
 satisfaction of debts previously contracted in good faith, in each case in the ordinary and usual course of business consistent with past practice or purchases of securities incident to Penns Woods’ securities portfolio in the ordinary course 
 of business and consistent with past practice) all or any portion of the assets, business, deposits or properties of any other person;                                                                                                             |

| • |     | amend the organizational and governing documents of Penns Woods and/or its subsidiaries; |