Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 199

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 199
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 either the Huntington Parties or Cadence, as provided in the section entitled “The Merger Agreement—Termination of the Merger Agreement” above, the merger agreement will become void and have no effect, and none of Huntington, Cadence, any of their respective subsidiaries or any of the officers or directors of any of them will have any liability of any nature whatsoever under the merger agreement, or in connection with the transactions contemplated thereby, except that (i) designated provisions of the merger agreement will survive the termination, including those relating to the confidential treatment of information, the effect of termination, including the termination fee described below, and certain general provisions, and (ii) notwithstanding anything to the contrary in the merger agreement, neither the Huntington Parties nor Cadence will be relieved or released from any liabilities or damages arising out of its fraud or willful breach of any provision of the merger agreement occurring prior to termination (including, in the case of Cadence, the loss to the holders of its capital stock and of Cadence equity awards of the economic benefits of the merger (including the loss of premium offered to the shareholders of Cadence), it being understood that Cadence will be entitled to pursue damages for such losses and to enforce the right to recover such losses on behalf of its shareholders and the holders of Cadence equity awards in its sole and absolute discretion, and any amounts received by Cadence in connection therewith may be retained by Cadence).

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Termination Fee Cadence will pay Huntington a termination fee equal to $296 million by wire transfer of same-day funds (the “termination fee”) if the merger agreement is terminated in the following circumstances:

| • | In the event that the merger agreement is terminated by the Huntington Parties pursuant to the second to last bullet set forth in the section entitled “The Merger Agreement—Termination of the Merger Agreement” above. In such case, the termination fee must be paid to Huntington as promptly as reasonably practicable after the date of termination (and in any event, within three (3) business days of the date of termination). |

| • | In the event that, after the date of the merger agreement and prior to the termination of the merger agreement, a bona fide Cadence acquisition proposal has been communicated to or otherwise made known to the Cadence board of directors or Cadence’s senior management or has been made directly to Cadence’s shareholders generally, or any person has publicly announced (and not withdrawn at least two (2) business days prior to the Cad