Company: NWBI
Filing Date: 2025-02-20
Form Type: S-4/A
Source: 0001193125-25-030716
Chunk: 208

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-20
Form: S-4/A
Chunk 208
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adjournment or postponement thereof.

A-55

(f) By:

(i) PWOD if (A) the PWOD Board (or a duly authorized committee thereof) has authorized an Acceptance of Superior Proposal,
and (B) PWOD has complied in all respects with ; or

(ii) NWBI prior to the time
the Requisite PWOD Vote is obtained, if (A) the PWOD Board shall have (1) failed to include the PWOD Recommendation in the Proxy Statement/Prospectus, or withdrawn, modified or qualified the PWOD Recommendation in a manner adverse to NWBI,
or publicly disclosed that it intends to do so, or failed to recommend against acceptance of a tender offer or exchange offer constituting an Acquisition Proposal that has been publicly disclosed within five (5) business days after the
commencement of the tender or exchange offer, in any case whether or not permitted by the terms hereof or (2) recommended or endorsed an Acquisition Proposal or publicly disclosed its intention to do so, or failed to issue a press release
announcing its unqualified opposition to the Acquisition Proposal within five (5) business days after an Acquisition Proposal is publicly announced, or (B) PWOD or its Board of Directors has breached its obligations under
or in any material respect.

Any purported termination pursuant to
this shall be void and of no force or effect if PWOD shall not have paid, and NWBI shall not have received, the Termination Fee as required pursuant to
.

(g) By written notice of PWOD to NWBI if, and only if, both of the following conditions
are satisfied at any time during the five-day period commencing on the Determination Date, such termination to be effective on the tenth day following the Determination Date:

(i) the NWBI Market Value on the Determination Date is less than the NWBI Market Price multiplied by 0.80; and

(ii) the number obtained by dividing the NWBI Market Value on the Determination Date by the NWBI Market Price shall be less
than the Index Ratio minus 0.20;

subject,, to the following three sentences: If PWOD elects to exercise its termination right
pursuant to this, it shall give prompt written notice thereof to NWBI. During the five business day period commencing with NWBI’s receipt of such notice, NWBI shall have the option to increase the
Exchange Ratio to equal a quotient, the numerator of which is equal to the product of the NW