Company: NWBI
Filing Date: 2025-01-27
Form Type: S-4
Source: 0001193125-25-012768
Chunk: 189

Company: Northwest Bancshares, Inc.
Filing Date: 2025-01-27
Form: S-4
Chunk 189
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’s group health plan for the year in which the Closing occurs, for any deductible or
co-payment already incurred by any employee of PWOD and its Subsidiaries under the applicable Compensation and Benefit Plan which is a group health plan and for any other
out-of-pocket expenses that count against any maximum out-of-pocket expense provision of
the applicable NWBI’s group health plan.

(b) Subject to any applicable regulatory restrictions, NWBI shall pay to each employee of
PWOD or its Subsidiaries who (i) is not subject to an existing contract providing for severance and/or a change in control payment, (ii) is an employee of PWOD or any of its Subsidiaries immediately before the Effective Time,
(iii) has

A-46

been an employee of PWOD or any of its Subsidiaries for at least six (6) months prior to the Effective Time, (iv) is not offered continued employment by NWBI or any of its Subsidiaries
after the Effective Time, and (v) signs and delivers NWBI’s standard form of termination and release agreement, a severance amount equal to (A) two (2) weeks of pay, at their base rate of pay in effect at the time of termination,
multiplied by the number of whole years of service of such employee with PWOD or any of its Subsidiaries and (B) accrued and then unpaid personal time off through the date of such separation, in each case, less applicable local, state and
federal tax withholding; , , that the minimum severance payment shall equal six (6) weeks of base pay, and the maximum severance payment shall not exceed 26 weeks of base pay, without regard to payment of accrued
but unpaid personal time off. Such severance pay shall be paid in a lump sum within 14 days following the employee’s termination, such employee has not been terminated for cause. For any employee of PWOD or its
Subsidiaries participating in PWOD’s group health program at the Effective Time who is entitled to a severance payment, the employee will be able to purchase health insurance coverage at the full premium rate for the entire COBRA period.

(c) A reasonable time before the Effective Time, but in any event only after the receipt of the last to be obtained of either the Requisite
PWOD Vote and the regulatory approvals required by of this Agreement, the PWOD Board shall adopt a resolution (i) approving the termination of its