Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 252

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 252
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 on target performance levels to continuing employees who remain employed through the date HomeStreet has historically paid such amounts in the ordinary course (but no later than March 15 of the calendar year following the closing of the merger). In the event that a continuing employee incurs a termination of employment after the closing but before the bonus payment date, other than for Cause (as defined in the confidential disclosure schedules to the merger agreement) or by the applicable continuing employee for Good Reason (as defined in the confidential disclosure schedules to the merger agreement, solely to the extent such employee is a party to certain agreements in which a Good Reason provision exists), then Mechanics will cause a prorated Closing Year Bonus to be paid based on target performance levels to such continuing employee within sixty (60) days following the applicable continuing employee’s termination, subject to the execution and non-revocation of a release of claims. In addition, pursuant to the confidential disclosure schedules to the merger agreement, with respect to certain other HomeStreet benefit plans providing for an annual bonus or incentive payment for the fiscal year in which the closing occurs or is expected to occur (“Closing Year Non-AIP Bonuses”) in which certain HomeStreet executive officers participate, HomeStreet and its subsidiaries will be permitted to amend or modify such plans to provide that, in the event that a participant incurs a termination of employment other than for Cause (as defined in the confidential disclosure schedules to the merger agreement) or by the applicable participant for Good Reason (as defined in the confidential disclosure schedules to the merger agreement, solely to the extent such employee is a party to certain agreements in which a Good Reason provision exists), then Mechanics will cause a prorated Closing Year Non-AIP

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#### TABLE OF CONTENTS
Bonus to be paid based on target performance levels within sixty (60) days following the applicable participant’s termination of employment, subject to the execution and non-revocation of a release of claims.

#### Director Compensation
Pursuant to the merger agreement and confidential disclosure schedules to the merger agreement, HomeStreet may pay compensation to its non-employee directors in the ordinary course of business consistent with past practice; provided, that HomeStreet may, unless the closing of the merger occurs during the first month of the applicable quarter, pay non-employee directors in full for the quarter in which the closing date of the merger occurs.

**Indemnification; Directors’ and Officers’ Insurance**

Under the merger agreement, HomeStreet’s directors and executive officers are entitled to indemnification and advancement of expenses by HomeStreet to