Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 329

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 329
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.19 .

Section 5.20 . Prior to the Effective Time, each of the ESSA Board and the CNB
Board, or a committee ofnon-employee directors thereof (as such term is defined for purposes of Rule16b-3(d) under the
Exchange Act), shall take all such reasonable action as may be required to cause to be exempt from liability pursuant to Rule16b-3 under the Exchange Act, to the fullest extent
permitted by applicable law, any acquisitions or dispositions of shares of ESSA Stock and CNB Stock (including derivative securities with respect to such shares) that are treated as acquisitions or dispositions under such rule and result from the
transactions contemplated by this Agreement by officers and directors of ESSA subject to the reporting requirements of Section 16(a) of the Exchange Act or by each individual who is reasonably expected to become subject to
the reporting requirements of Section
16(a) of the Exchange Act with respect to CNB immediately after the Effective Time.

Section 5.21
. Promptly following the Effective Time, CNB Bank shall invite up to twelve (12) directors of ESSA who are serving in such capacity immediately prior to the Effective Time, other than
the New Board Members, or other market business and community leaders as recommended by the ESSA Chief Executive Officer and approved by CNB, to join a newly formed ESSA Bank Division Advisory Board of CNB Bank; provided that any director or
officer of ESSA invited to join the ESSA Bank Division Advisory Board must meet the applicable qualifications of such advisory board in order to join.

Section 5.22 . CNB agrees to support ESSA’s and ESSA Bank’s current and
pending community matters support commitments and after the Effective Time shall provide annual community support in ESSA’s and ESSA Bank’s current market areas in an amount equal to or greater than the level of support provided by ESSA
and/or ESSA Bank as of the date hereof, as set forth on .

Section 5.23 . CNB and ESSA each agree to (i) use their reasonable
best efforts to obtain or cause to be provided, as appropriate, the opinions of counsel referred to in and (ii) deliver to Hogan Lovells US LLP and Luse Gorman PC, or other counsel described in
, a tax representation letter, dated as of the date of the Effective Time (and, if required, as