Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 217

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 217
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 the merger agreement, CNB
will indemnify and hold harmless each present and former director and officer of ESSA and ESSA Bank against any costs, expenses or fees (including reasonable attorneys’ fees), judgments, amounts paid in settlement, fines, penalties, losses,
claims, damages or liabilities incurred in connection with any claim, action, suit, proceeding or investigation, whether civil, criminal, administrative or investigative, for matters existing or occurring at or prior to the effective time of the
merger, arising in whole or in part out of or pertaining to the fact that he or she was a director or officer of ESSA and ESSA Bank or is or was serving at the request of ESSA or ESSA Bank as a director, officer, employee or other agent of any other
organization or in any capacity with respect to any employee benefit plan of ESSA and ESSA Bank, to the fullest extent which such indemnified party would be entitled under the BCL or the articles of incorporation and the bylaws of ESSA and ESSA Bank
as in effect of the date of the merger agreement.

Directors’ and Officers’ Insurance

The merger agreement requires CNB to use its reasonable best efforts to cause the directors and officers of ESSA immediately prior to the effective time of the
merger to be covered by ESSA’s directors’ and officers’ liability insurance policy for a six-year period following the effective time of the merger with respect to acts or omissions occurring
prior to the effective time committed by such directors and officers in their capacities as such. In the event the aggregate cost of such policy is more than 250% of the current annual premium paid by ESSA to maintain such insurance, CNB must use
its reasonable best efforts to purchase such lesser coverage as may be obtained at 250% of the current annual premium paid by ESSA.

Voting Agreements

Each of the directors and certain executive officers of CNB and ESSA have entered into voting agreements. In the CNB voting
agreements, the CNB directors and executive officers agreed to vote, and granted ESSA an irrevocable proxy and power of attorney to vote, all of his or her shares of CNB common stock, as applicable, in favor of the CNB share issuance proposal. In
the ESSA voting agreements, the ESSA directors and executive officers agreed to vote, and granted CNB an irrevocable proxy and