Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 129

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 129
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 employer contributions in an amount equal to a percentage of eligible compensation plus 5.7% of the compensation for all employees in excess of $168,600, subject to a $345,000 salary limit. NEOs in CNB’s 2024 proxy statement report (other than Ms. Wilcoxson and Mr. Dixon who achieved NEO status for the first time in 2024) were not eligible to participate in the profit-sharing plan in 2024. NEOs are ineligible to receive profit-sharing contributions in the first year following their achievement of NEO status. Thus, Ms. Wilcoxson and Mr. Dixon will be ineligible for profit-sharing contributions for 2025. CNB’s total contributions to the Plan for all employees were approximately $2.4 million for the 401(k) savings plan component and $1.4 million for the profit sharing non-contributorypension plan component. 95

Supplemental Executive Retirement Plan The Code places certain limitations on pension benefits that may be paid from the trusts of tax-qualifiedplans. Because of these limitations and in order to provide certain executives with adequate retirement income, CNB Bank has entered into agreements that provide retirement benefits to certain executives in the manner discussed below. On January 1, 2022, CNB adopted a SERP, in which Mr. Peduzzi was the sole participant. As originally drafted, the SERP did not contemplate participation by additional executives with different vesting schedules. On October 1, 2023, CNB amended the SERP to grant CNB the flexibility necessary to permit participation by different executives with different benefit amounts and vesting schedules. In connection with the foregoing amendment to the SERP, CNB and Mr. Peduzzi amended his SERP benefit to provide that his normal retirement benefit would vest on a pro-ratabasis commencing immediately until fully vested on December 31, 2026, rather than cliff vest in full on September 1, 2026. No change was made to the amount of Mr. Peduzzi’s normal retirement benefit, which remains $120,000, payable for twenty years. Additionally, and in order to ensure consistency of benefits among similarly situated executives, Messrs. Lima and Griffith became participants in the SERP on October 1, 2023, with each being eligible for a normal retirement benefit of $83,425, and $90,000, respectively, payable for twenty years. Mr. Lima’s benefit is slightly less than Mr. Griffith’s, taking into account the value