Company: NWBI
Filing Date: 2025-02-20
Form Type: S-4/A
Source: 0001193125-25-030716
Chunk: 103

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-20
Form: S-4/A
Chunk 103
---
 the members of their entire boards of directors. 74

Termination by either Northwest or Penns Woods. The Merger Agreement may be terminated at any time prior to the Effective Time by Northwest or Penns Woods upon written notice to the other party, if either board of directors so determines by vote of a majority of the members of the entire board of directors, in the event of the following circumstances:

| • |     | (i) a breach by the other party of any representation or warranty contained in the Merger Agreement, which breach                                                                                                                           
 cannot be or has not been cured within forty-five (45) days after the giving of written notice to the breaching party of such breach; or (ii) a breach by the other party of any covenants or agreements contained in the Merger Agreement, 
 which breach cannot be or has not been cured within forty-five (45) days after the giving of written notice to the breaching party of such breach; provided that such breach (whether under (i) or (ii)) would be reasonably likely,        
 individually or in the aggregate with other breaches, in the reasonable opinion of the non-breaching party, to result in a material adverse effect under the terms and conditions provided in the Merger                                    
 Agreement;                                                                                                                                                                                                                                  |

| • |     | if any governmental authority whose approval is required for consummation of the Merger and the other                       
 transactions contemplated by the Merger Agreement shall have been denied and the denial has become final and nonappealable; |

| • |     | if any governmental authority whose approval is required for consummation of the Merger and the other                                                                           
 transactions contemplated by the Merger Agreement shall have requested, directed or advised Northwest or Penns Woods to withdraw its application for approval of the Merger; or |

| • |     | if any governmental authority of competent jurisdiction shall have issued a final nonappealable law or order                   
 permanently enjoining or otherwise prohibiting or making illegal the consummation of the Merger or the Subsidiary Bank Merger. |

Termination by Penns Woods or Northwest with regards to the Penns Woods shareholder vote.Either Penns Woods or Northwest may terminate the Merger Agreement if the requisite vote of the Penns Woods shareholders shall not have been obtained at the meeting of the Penns Woods shareholders duly convened therefor or at any adjournment or postponement thereof; provided that no party may terminate the Merger Agreement if the party has breached in any material respect any of its