Company: CCNE
Filing Date: 2025-04-15
Form Type: S-8
Source: 0001193125-25-081506
Chunk: 2

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-04-15
Form: S-8
Chunk 2
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 in such capacities provided certain standards are met, including good faith and the reasonable belief that the particular action is in the best interests of the corporation. In general, this power to indemnify does not exist in the case of actions

against a director or officer by or in the right of the corporation if the person entitled to indemnification shall have been adjudged to be liable to the corporation unless and only to the extent a court determines that the person is fairly and reasonably entitled to indemnification. A corporation is required to indemnify directors and officers against expenses they may incur in defending actions against them in such capacities if they are successful on the merits or otherwise in the defense of such actions. Section 1746 of the BCL provides that the foregoing provisions shall not be deemed exclusive of any other rights to which a person seeking indemnification may be entitled under, among other things, any bylaw provision, provided that no indemnification may be made in any case where the act or failure or act giving rise to the claim for indemnification is determined by a court to have constituted willful misconduct or recklessness. Section 1747 of the BCL authorizes a corporation to purchase insurance for directors and other representatives. The foregoing statement is subject to the detailed provisions of Sections 1741 through 1750 of the BCL. As permitted by the BCL, our Bylaws provide that we shall, subject to certain authorizations and determinations, indemnify our directors and officers, including the advancement of expenses. Our Bylaws contain the procedures pursuant to which such indemnification and advancement of expenses may be authorized and effectuated, including receipt of certain undertakings by the director or officer as a condition precedent to the advancement of expenses. Our Bylaws provide, among other things, that indemnification shall not be made where the indemnification is expressly prohibited by law or where a final adjudication establishes that the director’s or officer’s conduct constitutes willful misconduct or recklessness or was based upon or attributable to the receipt from the registrant of a personal benefit to which the director or officer was not legally entitled. As permitted by the BCL, we maintain directors and officers liability insurance in amounts and on terms which the registrant’s board of directors deems reasonable. In the ordinary course of business, our board of directors regularly reviews the scope and adequacy of such insurance coverage. Item 7. Exemption from Registration Claimed Not Applicable. Item 8. Exhibits

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