Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 187

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 187
---
 effective time, and (iii) recognize all service of such employees with Cadence and its subsidiaries, including with their respective predecessors, for all purposes in any new plan, to the same extent that such service was taken into account under the analogous Cadence benefit plan prior to the effective time; provided that the foregoing will not apply to the extent it would result in the duplication of benefits, for purposes of any defined benefit pension or supplemental plan or for purposes of any frozen plan or benefit plan that provides grandfathered benefits. Effective as of the effective time, Huntington agrees to assume and honor all Cadence benefit plans in accordance with their terms.

Unless otherwise requested by Huntington, Cadence will cause its 401(k) plan and other defined contribution plan to terminate effective as of the day prior to the effective time and contingent on the effective time. In the event of such termination, continuing employees will be eligible to participate in and make rollover contributions to the Huntington 401(k) plan.

Director and Officer Indemnification and Insurance

The merger agreement provides that from and after the effective time, the surviving bank will indemnify and hold harmless, to the fullest extent permitted by applicable law, each present and former director, officer or employee of Cadence and its subsidiaries (in each case, when acting in such capacity) (collectively, the “Cadence 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 Cadence or any of its subsidiaries or is or was serving at the request of Cadence 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 consideration and approval of the merger agreement and the transactions contemplated by the merger agreement, and the surviving bank will also advance expenses as incurred by the Cadence indemnified party to the fullest extent permitted by applicable law; provided, that in the case of advancement of expenses the Cadence indemnified party to whom expenses are advanced provides an undertaking (in a reasonable and customary form) to repay such advances if it is ultimately determined that such Cadence indemnified