Company: STBA
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-068253
Chunk: 67

Company: S&T BANCORP INC
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 67
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 the amount of their payments accrued prior to January 1, 2005. The NEOs individually elected a time and form of payment for payments accrued after December 31, 2004, as allowed by the Nonqualified Plan and permitted by Section 409A. |

Severance, constructive termination and change in control.The agreements define “good reason” as the occurrence of any of the following (without the executive’s consent) after a change in control:

| • |     | A material diminution of the executive’s duties, authority or responsibility, or any material change in the geographic location at which the executive must perform services (in this case, a material change means any location more than 40 land miles from the location prior to the change in control); |

| • |     | A material breach of the obligation imposed under the agreement for S&T (or any successor) to (a) continue to provide the executive after a change in control with benefits substantially similar to those enjoyed by the executive under any of S&T’s pension, life insurance, medical, health and accident, disability, or other welfare plans (but not including annual bonus or incentive or equity-based compensation plans) in which the executive was participating at the time of the change in control, unless the nature of the change in benefit levels is consistent with changes to benefits levels provided to employees at the same or equivalent level or title as the executive; (b) provide annual bonus and incentive compensation opportunities that are not less favorable than provided prior to the change in control; or (c) provide the executive with the number of paid vacation days to which the executive is entitled to on the basis of years of service with S&T in accordance with S&T’s normal vacation policy in effect at the time of a change in control; |

| • |     | A material breach of the obligation imposed under the agreement that the agreement be binding upon any successor to S&T; or |

| • |     | A reduction of more than 10% in the executive’s annual base salary by S&T. |

An executive cannot terminate for “good reason” unless (a) the executive shall have given written notice of such event to S&T within ninety (90) days after the initial occurrence thereof, (b) S&T shall have failed to cure the situation within thirty (30) days following the delivery of such notice (or such longer cure period as may be agreed upon by the parties), and (c) the executive terminates employment within six (6) months after the initial notification of the