Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 780

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 780
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 The Observer shall have the right to attend and observe meetings of the Board of Directors, but not executive sessions or committee sessions, but shall not have any voting right or count towards the quorum at a Board meeting.

(ii) The Observer shall have no power of attorney to represent or act on behalf of the Company and the parties acknowledge and agree that the Observer shall have no responsibility for the management or operation of the Company. For the avoidance of doubt, other than the contractual obligations set forth herein, the Observer shall have no duties or obligations to the Company or its shareholders whatsoever (including, without limitation, fiduciary duties) as a result of the exercise of rights described in this Agreement, and the Observer shall have no liability for any acts of the Board of Directors, any committee, or any director of the Company.

(iii) The Observer shall not be entitled to any remuneration from the Company, but the Observer shall be entitled to reimbursement by the Company of all reasonable documented costs and expenses incurred by the Observer in connection with its office as Observer to the Board.

(iv) Each of the Chairman of the Board of Directors and the Secretary of the Company shall procure that the Company furnishes to the Observer notices of Board meetings and copies of the materials with respect to such meetings which are furnished to the members of the Board (including minutes of the prior quarterly Board meeting and any special meeting of the Board that may occur from time to time since the prior quarterly Board meeting, but not including committee materials which are not included in the Board packages provided to all members of the Board (irrespective of their membership on any committee)), in each case no later than, and using the same form of communication as, such notices and/or materials are furnished to the members of the Board; provided , that failure to deliver any such notice or materials to any Observer shall not impair the validity of any action taken by the Board.

(v) Notwithstanding Sections 6.1(a)(i) and (iv), the Board may exclude the Observer from access to any Board materials or any Board meeting, or any portion of any Board meeting, to the same extent as it would exclude a similarly situated director in order to comply with applicable law or to the extent the Chairman of the Board or a majority of the members of the Board (or a majority of those present at a meeting, in the case of a meeting) determines in good faith after consultation with counsel that such

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