Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 486

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 486
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 by Company for such insurance (the “ Company Premium Cap ”). If such tail policy is not available on such terms or otherwise not obtained, in lieu thereof, for a period of six (6) years after the Effective Time, Parent shall cause to be maintained in effect the current policies of directors’ and officers’ liability insurance policies maintained by Company ( provided that Parent may substitute therefor policies with a substantially comparable insurer of at least the same coverage and amounts containing terms and conditions that are no less advantageous to the insured) with respect to claims arising from facts or events which occurred at or before the Effective Time (including the approval of the transactions contemplated by this Agreement); provided that Parent shall not expend, on an annual basis, an amount in excess of the Company Premium Cap, and if such premiums for such insurance would at any time exceed the Company Premium Cap, then Parent shall cause to be maintained policies of insurance which, in Parent’s good faith determination, provide the maximum coverage available at an annual premium equal to the Company Premium Cap.

(c) At Parent’s sole cost, Parent shall obtain at or prior to the Effective Time a six (6)-year “tail” policy under Parent’s existing directors’ and officers’ insurance policies, which may name the Parent as a beneficiary, providing the same coverage and amounts and containing terms and conditions that are no less advantageous to the insured as the directors’ and officers’ liability insurance maintained by the Parent as of the date hereof, with respect to claims against the Parent Indemnified Parties arising from facts or events which occurred at or before the Effective Time (including the approval of the transactions contemplated by this Agreement) if and to the extent that the same may be obtained for an amount that, in the aggregate, does not exceed 300% of the current annual premium paid as of the date of this Agreement by Parent for such insurance (the “ Parent Premium Cap ”). If such tail policy is not

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available on such terms, in lieu thereof, for a period of six (6) years after the Effective Time, Parent shall cause to be maintained in effect the current policies of directors’ and officers’ liability insurance maintained by Parent as of the date hereof (provided that Parent may substitute therefor policies with a substantially comparable insurer of at least the same coverage and amounts containing terms and conditions that are no less advantageous to the insured) with respect to claims against the Parent Indemnified Parties arising from facts or