Company: CMA
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000028412-25-000135
Chunk: 75

Company: COMERICA INC
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 75
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 joint and 50% survivor annuity as of the date of death or at the earliest retirement age, if later. An eligible employee who is at least age 50 and has earned a vested accrued benefit under the prior final average pay formula may elect an enhanced death benefit that would pay a benefit assuming the eligible employee separated from service on the date of death and elected an immediate joint and 100% survivor annuity. None of the NEOs have elected an enhanced death benefit.

A participant who is unmarried at the time of retirement generally receives a pension in the form of a single life annuity, the annual amount of which is listed in the “Pension Benefits at Fiscal Year-End 2024” table above. A participant who is married at the time of retirement generally receives a pension in the form of a joint and 50% survivor annuity, the amount of which is actuarially equivalent to the single life annuity. A participant may also elect a one-time lump sum option (with spousal consent as required by law).

The SRIA benefits are generally calculated in the form of a 100% joint and survivor annuity if a participant is married and in the form of a single life annuity if a participant is not married when payments commence. For participants that do not have accruals under the prior final average pay formula and the SRIA account balance does not exceed $250,000, the SRIA benefits are paid in a one-time lump sum.

In past years, there was some flexibility provided in the IRS regulations to include a portion of a participant's benefit in the RIA that would otherwise be payable from the SRIA when certain conditions are met. Accordingly, certain participants in the RIA are entitled to receive an annual benefit that is the sum of (i) their normal retirement benefit calculated regularly, and (ii) a flat dollar benefit amount specified in the plan. Mr. Farmer, Mr. Herzog and Mr. Sefzik were eligible for this flat dollar benefit that transferred a portion of their benefit from the SRIA to the RIA.

| 74 |     | COMERICA INC.                                                               
 PROPOSAL 3: NON-BINDING, ADVISORY PROPOSAL APPROVING EXECUTIVE COMPENSATION |

The following table provides information on the defined contribution nonqualified deferred compensation of any NEO with respect to the fiscal year ended December 31, 2024. The plans consist of the 1999 Comerica Incorporated Amended and Restated Common Stock Deferred In