Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 240

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 240
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 an “indemnified representative”) against any liability incurred in connection with any proceeding in which the indemnified representative may be involved as a party or otherwise by reason of the fact that such person is or was serving in an indemnified capacity, including, without limitation, liabilities resulting from any actual or alleged breach or neglect of duty, error, misstatement or misleading statement, negligence, gross negligence or act giving rise to strict or products liability, except: (i) where the indemnification is expressly prohibited by applicable law; (ii) where the conduct of the indemnified representative has been finally determined under final adjudication or otherwise: (a) to constitute willful misconduct or recklessness within the meaning of Section 1746(b) of the BCL or any superseding provision of law sufficient in the circumstances to bar indemnification against liabilities arising from the conduct; or (b) to be based upon or attributable to the receipt by the indemnified representative from the corporation of a personal benefit to which the indemnified representative is not legally entitled; or (iii) to the extent the indemnification has been finally determined in a final adjudication to be otherwise unlawful.   CNB shall not indemnify an indemnified representative for any liability incurred in a proceeding initiated (which shall not be deemed to include counter-claims or affirmative defenses) or participated in as an intervenor or amicus curiae by the person seeking |     | ESSA’s bylaws provide that ESSA shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, including actions by or in the right of ESSA, whether civil, criminal, administrative, or investigative, by reason of the fact that such person is or was a director, officer, employee, fiduciary, trustee, or agent of ESSA, or is or was serving at the request of ESSA as a director, officer, employee, fiduciary, trustee, or agent of another corporation, partnership, joint venture, trust, or other enterprise (each, a “covered person”).   In the case of a threatened, pending, or completed action or suit by or in the right of ESSA against a covered person, ESSA shall indemnify such person if: (i) such person is successful on the merits or otherwise; or (ii) such person acted in good faith in the transaction that is the subject of the suit or action, and in