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

Company: Northwest Bancshares, Inc.
Filing Date: 2025-01-27
Form: S-4
Chunk 27
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 or in the aggregate with other breaches, in the reasonable opinion of the non-breaching party, to result in a material adverse effect under the terms and conditions provided in the Merger                                    
 Agreement;                                                                                                                                                                                                                                  |

| • |     | if any governmental authority whose approval is required for consummation of the Merger and the other                       
 transactions contemplated by the Merger Agreement shall have been denied and the denial has become final and nonappealable; |

| • |     | if any governmental authority whose approval is required for consummation of the Merger and the other                                                                           
 transactions contemplated by the Merger Agreement shall have requested, directed or advised Northwest or Penns Woods to withdraw its application for approval of the Merger; or |

| • |     | if any governmental authority of competent jurisdiction shall have issued a final nonappealable law or order                   
 permanently enjoining or otherwise prohibiting or making illegal the consummation of the Merger or the Subsidiary Bank Merger. |

Termination by Penns Woods or Northwest with regards to the Penns Woods shareholder vote.Either Penns Woods or Northwest may terminate the Merger Agreement if the requisite vote of the Penns Woods shareholders shall not have been obtained at the meeting of the Penns Woods shareholders duly convened therefor or at any adjournment or postponement thereof; provided that no party may terminate the Merger Agreement if the party has breached in any material respect any of its obligations under the Merger Agreement, in each case in a manner that primarily caused the failure to obtain the requisite vote of the Penns Woods shareholders at the meeting of the Penns Woods shareholders duly convened or at any adjournment or postponement thereof.

14

Termination by Northwest. Northwest may terminate the Merger Agreement and abandon the Merger at any time before the requisite vote of the Penns Woods shareholders is obtained if:

| • |     | the Penns Woods board of directors shall have failed to include the Penns Woods recommendation in this proxy                                                                                                                                             
 statement/prospectus, or withdrawn, modified or qualified the Penns Woods recommendation in a manner adverse to Northwest, 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 of the Merger Agreement;                   |

| • |     | the Penns Woods board of directors