Company: NWBI
Filing Date: 2025-01-27
Form Type: S-4
Source: 0001193125-25-012768
Chunk: 204

Company: Northwest Bancshares, Inc.
Filing Date: 2025-01-27
Form: S-4
Chunk 204
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 obtained an opinion of Dinsmore &
Shohl LLP, in form and substance reasonably acceptable to the parties, dated on or about the Effective Date, to the effect that the Parent

A-54

Merger effected pursuant to this Agreement will constitute a reorganization within the meaning of Section 368(a) of the Code. Such opinion shall be based upon factual representations
received by counsel from PWOD and NWBI, which representations may take the form of written certifications.

(g) Releases.
Receipt of executed releases in a form mutually agreed upon by NWBI and PWOD from any PWOD employee subject to an Executive Employment Agreement stating that all amounts due and any obligations under each Executive Employment Agreement has been
fully paid, fulfilled and/or waived.

ARTICLE VIII

Termination

8.01.
Termination. This Agreement may be terminated at any time prior to the Effective Time, whether before or after receipt of the Requisite PWOD Vote:

(a) By the mutual written consent of NWBI and PWOD, if the board of directors of each so determines by vote of a majority of the members of
its entire board.

(b) By either NWBI or PWOD (, that the terminating party is not then in material breach of any
representation, warranty, obligation, covenant or other agreement contained herein), if its board of directors so determines by vote of a majority of the members of the entire board, in the event that there shall have been a breach of any of the
obligations, covenants or agreements or any of the representations or warranties (or any such representation or warranty shall cease to be true) set forth in this Agreement on the part of PWOD, in the case of a termination by NWBI, or NWBI, in the
case of a termination by PWOD, which breach or failure to be true, either individually or in the aggregate with all other breaches by such party (or failures of such representations or warranties to be true), would constitute, if occurring or
continuing on the Closing Date, the failure of a condition set forth in , in the case of a termination by NWBI, or , in the case of a termination by PWOD, and which is not
cured within forty-five (45) days following written notice to PWOD, in the case of a termination by NWBI, or NWBI, in the case of a termination by PWOD, or by its nature or timing cannot be cured during such period (or such fewer days as remain
prior to the