Company: FITBI
Filing Date: 2025-11-05
Form Type: S-4
Source: 0001193125-25-267273
Chunk: 168

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-05
Form: S-4
Chunk 168
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 which generally supersedes Mr. Farmer’s CIC Agreement (except for the modified make-whole payment). See the section entitled “— Quantification of Potential Payments and Benefits to Comerica’s Named Executive Officers in Connection with the Mergers” below for the estimated amounts that each of Comerica’s named executive officers would receive under the CIC Agreements upon a qualifying termination of employment following the effective time. Based on the assumptions described above under “ —Certain Assumptions,” the estimated aggregate value of the change-in-controlseverance benefits that the thirteen executive officers who are not named executive officers would receive under the CIC Agreements upon a qualifying termination of employment following the effective time is $48,352,230 (assuming no reduction in payments or benefits for purposes of the excise tax under Section 4999 of the Code). CEO Letter Agreement with Fifth Third Concurrently with the execution of the merger agreement, Fifth Third entered into a letter agreement with Mr. Farmer, which generally supersedes his CIC Agreement (except for the modified make-whole payment) with Comerica and memorializes the terms of his employment and post-employment advisory service with Fifth Third following the completion of the mergers. The agreement will automatically terminate if the mergers are not consummated or if Mr. Farmer’s employment terminates before the effective date. Under the letter agreement, Mr. Farmer’s employment period with Fifth Third will begin on the effective date of the mergers and continue until the later of the annual meeting of Fifth Third’s shareholders in the calendar year following the year in which the effective date occurs and the first anniversary of the effective date (the “employment period”). During the employment period, Mr. Farmer will serve as Vice Chairman of Fifth Third and Fifth Third Bank, reporting directly to Fifth Third’s Chief Executive Officer. He will receive annual compensation of $8,750,000 and will be eligible for employee benefits, perquisites, and fringe benefits on terms no less favorable than those provided to Fifth Third’s executive officers, including the use of corporate or company-paid aircraft for personal purposes, with a value not exceeding $200,000 per year. For the period prior 112

to the effective date, he will receive a prorated bonus for the portion of the fiscal year prior to the effective date pursuant to the terms of the Comerica Management Incentive Plan (as described below). On the effective date, Fifth Third will credit $10,625,000 (the “DC Amount”) to a deferred