Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 255

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 255
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 assumptions described in the footnotes to the table, the actual amounts, if any, to be received by a named executive officer may materially differ from the amounts set forth below. For purposes of this discussion, “single-trigger” refers to benefits that arise as a result of the closing of the merger and “double-trigger” refers to benefits that require two conditions, which are the closing of the merger as well as a qualifying termination of employment.

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TABLE OF CONTENTS

Golden Parachute Compensation

| Name(1)             |     |       Cash 
     ($)(2) |     |   Equity 
   ($)(3) |     | Perquisites / 
      benefits 
        ($)(4) |     |       Total 
         ($) |
| Mark K. Mason       |     | $5,129,690 |     | $995,681 |     |       $45,110 |     | $ 6,170,481 |
| John M. Michel      |     | $2,045,270 |     | $396,316 |     |       $45,110 |     |  $2,486,696 |
| William D. Endresen |     | $2,179,120 |     | $290,387 |     |       $45,110 |     |  $2,514,617 |

| (1) | Pursuant to the merger agreement, confidential disclosure schedules to the merger agreement and the consulting agreement, Mechanics and HomeStreet have agreed that, effective as of the day following and subject to the occurrence of the merger, the employment of Mr. Mason will terminate, and he will be entitled to receive payment of the severance payments and benefits contemplated by, and in accordance with, the applicable change in control severance terms of the HomeStreet CEO Employment Agreement. Pursuant to the merger agreement and confidential disclosure schedules to the merger agreement, Mechanics and HomeStreet have agreed that, effective as of the day following and subject to the occurrence of the merger, the employment of each of Mr. Michel and Mr. Endresen will terminate, and each will be entitled to receive payment of the severance payments and benefits contemplated by, and in accordance with, the applicable change in control severance terms of their employment agreement with HomeStreet or CIC Agreement, as applicable. |

| (2) | Cash.The cash payments (“Cash Severance Payment”) payable to the named executive officers consist of the following severance benefits payable on a termination without cause or a resignation for