Company: HBAN
Filing Date: 2025-07-21
Form Type: S-4
Source: 0001140361-25-026508
Chunk: 95

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-07-21
Form: S-4
Chunk 95
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 (i) an amount equal to thirty-six (36) months of Mr. Holland’s base salary plus a cash payment equal to three times the average annual cash incentive bonus paid to Mr. Holland for the two full calendar years immediately preceding the date that his employment terminates; (ii) an annual cash incentive bonus payment for the year of termination of employment, subject to achievement of the applicable performance criteria relating to payment of such bonus (assumed to be earned at target for the purposes of the calculations in this section), pro-rated based on the number of days Mr. Holland was employed during the performance year, and (iii) a cash payment equal to eighteen (18) months of the COBRA premium in effect at the time of Mr. Holland’s termination of employment; for each of Messrs. Karaba, and Holford and Mses. Harper and Renfro, the sum of (i) an amount equal to thirty (30) months of the executive’s base salary plus a cash payment equal to two and a half times the average annual cash incentive bonus paid to the executive for the two (2) full calendar years immediately preceding the date of his or her involuntary termination; (ii) an annual cash incentive bonus payment for the year in which the involuntary termination occurs, subject to achievement of the applicable performance criteria relating to payment of such bonus (assumed to be earned at target for the purposes of the calculations in this section), pro-rated based on the number of |

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days the executive was employed during the performance year; and (iii) a cash payment equal to eighteen (18) months of the COBRA premium in effect at the time the executive’s involuntary termination. The cash amounts payable to the named executive officers under the employment agreements and to Mr. Earley under the consulting agreement are “double-trigger”, meaning that they are only payable upon a qualifying termination in connection with the merger. For Mr. Earley, a portion of the fee for his retention bonus rendered in connection with the merger equal to $1,000,000 (i.e., “single-trigger”) that will become payable upon the closing date under the Earley retention agreement, as described in the section entitled “—Huntington Retention Agreement with Terry S. Earley” and $123,750.00 of fees payable to Mr. Earley under his consulting agreement upon the early termination of the consulting period as described above in “—Veritex Employment Agreements—Consulting Agreement of Terry S. Ear