Company: HBAN
Filing Date: 2025-07-21
Form Type: S-4
Source: 0001140361-25-026508
Chunk: 120

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-07-21
Form: S-4
Chunk 120
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 its subsidiaries, and (b) employee benefits (other than severance and retention benefits) that are substantially comparable in the aggregate to those provided to similarly situated employees of Huntington and its subsidiaries (subject to certain exceptions). In addition, for the one year period following the effective time, each continuing employee (other than those who are party to an individual agreement providing for severance or termination benefits) who is terminated under severance qualifying circumstances will be eligible to receive severance benefits, subject to such employee’s execution (and non-revocation) of a release of claims.

For the calendar year in which the closing occurs, each continuing employee will be eligible for an annual cash incentive award equal to the bonus payable under the Veritex annual incentive plan applicable for such year based on actual performance for such year or, in the case of Veritex discretionary bonus programs, based on the aggregate amount of discretionary bonuses paid under such Veritex discretionary bonus programs in the prior fiscal year. The merger agreement contains customary provisions relating to the eligibility of the continuing employees to participate in the Huntington benefit plans, including with respect to the recognition of past service with Veritex. Unless otherwise requested by Huntington, the Veritex 401(k) plan will terminate immediately prior to the closing date.

Director and Officer Indemnification and Insurance

The merger agreement provides that from and after the effective time, the combined company will indemnify and hold harmless, to the fullest extent permitted by applicable law, each present and former director, officer or employee of Veritex and its subsidiaries (in each case, when acting in such capacity) (collectively, the “Veritex indemnified parties”) against any costs or expenses (including reasonable attorneys’ fees), judgments, fines, losses, damages or liabilities incurred in connection with any threatened or actual claim, action, suit, proceeding or investigation, whether civil, criminal, administrative or investigative, whether arising before or after the effective time, arising in whole or in part out of, or pertaining to, the fact that such person is or was a director, officer or employee of Veritex or any of its subsidiaries or is or was serving at the request of Veritex or any of its subsidiaries as a director or officer of another person and pertaining to matters, acts or omissions existing or occurring at or prior to the effective time, including matters, acts or omissions occurring in connection with the approval of the merger agreement and the transactions contemplated by the merger agreement, and the combined company will also advance expenses as incurred by