Company: CCNE
Filing Date: 2025-01-10
Form Type: 425
Source: 0001193125-25-004105
Chunk: 91

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-01-10
Form: 425
Chunk 91
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 ESOP loan for
the 2025 plan year through and including the end of the calendar quarter immediately preceding the Closing, prior to the termination of the ESSA Bank ESOP.

(f) CNB agrees to pay to each employee of ESSA or ESSA Bank that is not covered by a written employment or severance agreement and is
terminated by CNB, CNB Bank or any of their Subsidiaries, without cause, within six (6) months following the Effective Time, a severance payment equal to two (2) weeks of his or her then current base salary multiplied by the number of
total completed years of service (a partial year of service of three months or more shall be counted as a completed year of service), with ESSA or ESSA Bank; provided, however, that the minimum severance payment shall equal not less
than four (4) weeks of his or her base salary and the maximum severance payment shall not exceed twenty-six (26) weeks of his or her base salary; and provided further, that such employee
enters into and does not revoke a release of claims in a form reasonably satisfactory to CNB and that such employee does not voluntarily leave employment with ESSA or ESSA Bank prior to the Effective Time.

(g) To the extent necessary, CNB and ESSA may provide a retention pool in an aggregate amount up to $250,000 as mutually agreed by CNB and
ESSA to enable CNB and ESSA to provide retention incentives to

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certain employees of ESSA or ESSA Bank who are not covered by a written employment agreement or change in control agreement, the recipients and individual amounts to be determined by CNB, in its
sole discretion, in consultation with and upon the recommendation of ESSA’s chief executive officer. Such retention incentives will be in addition to, and not in lieu of, any severance payment, including the amount that may be paid pursuant to
. Such designated employees will enter into retention agreements to be provided by CNB.

(h) CNB
and ESSA will enter into a settlement agreement and a non-competition agreement with the individuals named in and in the form set forth in , and which will be signed and dated by the parties on the same date this Agreement is executed.

(i) Nothing
contained in this Agreement, expressed or implied, shall (i) give any person, other than the parties hereto, any rights or remedies of any