Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 199

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 199
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 The settlement and non-competitionagreements will cancel Messrs. Olson, Gray, Grayuski, Hangen and Muto’s employment agreements with ESSA and ESSA Bank as of the effective time of the merger in exchange for their execution of a general release of claims in favor of CNB, ESSA and ESSA Bank and their agreement to a post-termination of employment non-competeand non-solicitperiod of: (i) two years in the case of Mr. Olson, (ii) eight months in the case of Mr. Grayuski, and (iii) six months in the case of Messrs. Gray, Hangen and Muto. The amount payable to Messrs. Olson, Grayuski, Hangen and Muto under the settlement and non-competitionagreements will be recalculated as of the closing date of the merger to reflect the updated actuarial value for the additional years of service under the ESSA Bank defined benefit pension plan and Mr. Gray will not receive this benefit since he does not participate in the ESSA Bank defined benefit pension plan. For an estimate of the amount that would be payable to Messrs. Olson, Gray, Grayuski, Hangen and Muto under their settlement and non-competitionamounts, see the section entitled “—Current Agreements and Benefit Plans with ESSA’s Executive Officers – Current Employment Agreements” above. Potential Payments and Benefits to ESSA’s Named Executive Officers in Connection with the Merger This section sets forth the information required by Item 402(t) of the SEC’s Regulation S-Kregarding compensation for each named executive officer of ESSA that is based on, or otherwise relates to, the merger. This compensation is referred to as “golden parachute” compensation by the applicable SEC disclosure rules, and in this section such term is used to describe the merger-related compensation payable to ESSA’s named executive officers. The “golden parachute” compensation payable to these individuals is subject to a non-bindingadvisory vote of holders of ESSA common stock, as described in the section entitled “ESSA Proposal 2—Merger-Related Executive Compensation” beginning on page 153. The table below sets forth, for the purposes of this golden parachute disclosure, the amount of payments and benefits (on a pre-taxbasis) that each of ESSA’s named executive officers would receive, using the following assumptions:

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| • |     | a price per share of ESS