Company: MCHB
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001518715-25-000066
Chunk: 67

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 67
---
 employed during the performance period and the denominator of which equals 36. If a participant’s continuous service terminates during the performance period as a result of death or disability, a participant will vest on a pro-rata basis to the extent PSUs would be vested based on actual performance during the full quarters employed during the performance period. The pro-rata fraction will be calculated by multiplying then-vested PSUs by a fraction, the numerator of which equals the number of full months that the participant was employed during the performance period and the denominator of which equals 36. The employment agreements for Messrs. Mason, Michel and Endresen provide for the pro rata vesting of any unvested PSUs consistent with the PSU terms, through the date of termination, plus in the event of death or disability, an additional one-year period for Mr. Mason and an additional six-month period for Messrs. Michel and Endresen.

<div align='center'>50</div>

#### Mason Deferred Compensation Agreement
Mr. Mason’s deferred compensation agreement provides that, if Mr. Mason’s continuous service terminates during the Deferred Compensation Performance Period as a result of retirement on or after age 65, Mr. Mason will vest at the end of the Deferred Compensation Performance Period in a pro rata portion of the PSU Deferred Compensation Amount, to the extent Mr. Mason’s 2024-2026 PSUs would have been earned on a retirement on or after age 65 pursuant to the PSU award agreement. The pro rata portion will be calculated by multiplying the target PSU Deferred Compensation Amount by a fraction, the numerator of which equals the number of full months that Mr. Mason was employed during the Deferred Compensation Performance Period and the denominator of which equals 36. If Mr. Mason’s continuous service terminates during the Deferred Compensation Performance Period as a result of death or disability, Mr. Mason will vest in a pro rata portion of the PSU Deferred Compensation Amount, to the extent Mr. Mason’s 2024-2026 PSUs would have been earned upon a termination due to death or disability pursuant to the PSU award agreement. The pro rata portion will be calculated by multiplying the target PSU Deferred Compensation Amount by a fraction, the numerator of which equals the number of full months that Mr. Mason was employed during the performance period and the denominator of which equals 36.

If Mr. Mason resigns for Good Reason (as defined in the deferred compensation agreement) or a Change in Control (as defined in the deferred compensation agreement) occurs, in each case