Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 229

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 229
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 current annual premium paid by ESSA to maintain such insurance, CNB must use its reasonable best efforts to purchase such lesser coverage as may be obtained at 250% of the current annual premium paid by ESSA.

Voting Agreements

Each of the directors and executive officers of CNB and ESSA have entered into voting agreements. In the CNB voting agreements, the CNB directors and executive officers agreed to vote, and granted ESSA an irrevocable proxy and power of attorney to vote, all of his or her shares of CNB common stock, as applicable, in favor of the CNB share issuance proposal. In the ESSA voting agreements, ESSA directors and executive officers agreed to vote, and granted CNB an irrevocable proxy and power of attorney to vote, all of his or her shares of ESSA common stock, as applicable, in favor of the ESSA merger proposal and any of the transactions contemplated by the merger agreement and against any other acquisition proposal.

Except under limited circumstances, these directors and executive officers also agreed not to, directly or indirectly, sell, transfer, pledge, assign or otherwise dispose of, or enter into any contract, option, commitment or other arrangement or understanding with respect to the sale, transfer, pledge, assignment or other disposition of, any such shares. Each voting agreement terminates immediately upon the earlier of the adjournment of the meetings of shareholders of CNB or ESSA, as applicable, called and held pursuant to merger agreement, or the termination of the merger agreement in accordance with its terms.

As of the record date, these directors and executive officers held shares of CNB common stock, which represented approximately % of the outstanding shares of CNB common stock. As of the record date, these directors and executive officers held shares of ESSA common stock, which represented approximately % of the outstanding shares of ESSA common stock. These directors and executive officers were not paid any additional consideration in connection with the execution of the voting agreement.**

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Additional Agreements CNB and ESSA have also agreed to use their reasonable best efforts in good faith to:

| • |     | take, or cause to be taken, all actions, and to do, or cause to be done, all things necessary, proper or advisable under applicable laws to consummate the merger and the transactions contemplated thereby as promptly as practicable; and |

| • |     | enable consummation of the transactions