Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 335

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 335
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 breached its obligations under by failing to call, give notice of, convene and hold the ESSA Meeting in accordance with .

(ii) By ESSA, subject to ESSA’s compliance with , if ESSA has received an
Acquisition Proposal, and in accordance with of this Agreement, the ESSA Board has made a determination that such Acquisition Proposal is a Superior Proposal and has determined to accept such Superior Proposal.

Section 7.02 . In recognition of the efforts, expenses and other opportunities
foregone by CNB while structuring and pursuing the Merger, the parties hereto agree that ESSA shall pay to CNB a termination fee of $8,800,000 within three (3) Business Days after written demand for payment is made by CNB, following the
occurrence of any of the events set forth below:

(a) CNB or ESSA terminates this Agreement pursuant to
or ; or

(b) ESSA or ESSA Bank enters into a
definitive agreement relating to an Acquisition Proposal or the consummation of an Acquisition Proposal involving ESSA or ESSA Bank within twelve (12) months following the termination of this Agreement by CNB pursuant to
or because of a Willful Breach by ESSA or ESSA Bank after an Acquisition Proposal has been publicly announced or otherwise made known to ESSA.

(c) The amount payable by ESSA pursuant to this constitutes liquidated damages and not a penalty and
shall be the sole monetary remedy of CNB in the event of a termination due to breach of this Agreement in the circumstances specified in this .

Section 7.03 . In the event of termination of this Agreement
and the abandonment of the Merger pursuant to this Article VII, no party to this Agreement shall have any liability or further obligation to any other party hereunder except (i) as set forth in and
and (ii) other than a termination that results in a payment in accordance with , that termination will not relieve a breaching party from liability for money damages
for any Willful Breach of any covenant, agreement, representation or warranty of this Agreement giving rise to such termination. Nothing in or this shall be deemed to
preclude either party from seeking specific performance in equity to enforce the terms of this Agreement.

ARTICLE VIII

MISCELLANEOUS

Section 8.01 . No representations, warranties, agreements and covenants contained in this Agreement shall survive the Effective Time (