Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 131

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 131
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 Peduzzi amended his SERP benefit to provide that his normal retirement benefit would vest on a pro-ratabasis commencing immediately until fully vested on December 31, 2026, rather than cliff vest in full on September 1, 2026. No change was made to the amount of Mr. Peduzzi’s normal retirement benefit, which remains $120,000, payable for twenty years. Additionally, and in order to ensure consistency of benefits among similarly situated executives, Messrs. Lima and Griffith became participants in the SERP on October 1, 2023, with each being eligible for a normal retirement benefit of $83,425, and $90,000, respectively, payable for twenty years. Mr. Lima’s benefit is slightly less than Mr. Griffith’s, taking into account the value of the vested benefit under their Defined Contribution Plan described below. Mr. Dixon participates in the Defined Contribution Plan as described below. While participants in the SERP will generally vest according to the schedule set forth below, a participant will become 100% vested upon his or her death, disability or CNB undergoing a change in control. The amount payable upon a separation from service prior to retirement age other than for death, disability or a change in control is based on a pro-ratavesting schedule. Payment of benefits begins upon a participant reaching retirement age, with the exception of payments following death, disability or a change in control, which begin immediately, in each case provided that a termination of employment has occurred. The potential payments that would have occurred assuming a change in control or termination event at December 31, 2024 are outlined in the section entitled “—Termination and Change in Control Benefits” beginning on page 98. In conjunction with entering into the SERP with Mr. Lima, the Defined Contribution Plan he was party to was frozen as of September 30, 2023.

|                |     |        Michael D. Peduzzi |     |              Tito L. Lima |     |        Martin T. Griffith |
| Annual Benefit |     |                  $120,000 |     |                   $83,425 |     |                   $90,000 |
| Term           |     |                  20 years |     |                  20 years |     |                  20 years |
| Retirement Age |     |                        62 |     |                        62 |     |                        63 |
| Vesting        |     |          Pro-rata through 
 2026, at which point 100% |