Company: HBAN
Filing Date: 2025-08-15
Form Type: 424B3
Source: 0001140361-25-031511
Chunk: 92

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-08-15
Form: 424B3
Chunk 92
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 to a severance payment of $5.3 million, a prorated annual bonus for the year in which the closing occurs based on actual performance and the COBRA premium payment provided under such agreement as described above.

Huntington Retention Agreement with Terry S. Earley

On July 13, 2025, in connection with the merger, Huntington entered into a letter agreement (the “retention agreement”) with Mr. Earley, the retired Chief Financial Officer of Veritex who is currently providing transition services to Veritex as a consultant, which sets forth the terms of his service as an advisor to Huntington after the consummation of the merger.

Pursuant to the retention agreement, Mr. Earley will be entitled to a retention bonus in the aggregate amount of $3.5 million, with $1.0 million vesting on the closing date and the remaining $2.5 million vesting on the later of January 31, 2026, and the date that is fifteen (15) days after the date on which the conversion of the banking systems and operations of Veritex is successfully completed, subject to Mr. Earley’s continued compliance with the Earley consulting and retention agreements; provided, that if Mr. Earley’s services are terminated by Huntington without cause (as defined in his consulting agreement) or due to Mr. Earley’s death or disability after the effective time, he shall be entitled to any unpaid portion of the retention bonus.

Under the letter agreement, Mr. Earley has agreed to continue to be bound by certain restrictive covenants, including non-competition and non-solicitation covenants for twelve (12)-months following July 1, 2025, in accordance with Mr. Earley’s employment agreement in effect at the time of his retirement. Mr. Earley is also subject to indefinite confidentiality covenants.

The retention agreement does not affect the payment of the consulting fee to Mr. Earley in connection with the early termination of the consulting period under the terms of the Earley consulting agreement, as described above in “—Veritex Employment Agreements-Consulting Agreement of Terry S. Earley,” which the retention agreement acknowledges will occur upon the second vesting date of the retention bonus.

New Huntington Arrangements with Other Veritex Executive Officers

Any executive officers and directors who become officers, directors or employees or who otherwise are retained to provide services to Huntington or any of its affiliates (including, after the closing, Ver