Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 199

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 199
---
 recover such losses on behalf of its shareholders and the holders of Cadence equity awards in its sole and absolute discretion, and any amounts received by Cadence in connection therewith may be retained by Cadence).

118

TABLE OF CONTENTS

Termination Fee Cadence will pay Huntington a termination fee equal to $296 million by wire transfer of same-day funds (the “termination fee”) if the merger agreement is terminated in the following circumstances:

| • | In the event that the merger agreement is terminated by the Huntington Parties pursuant to the second to last bullet set forth in the section entitled “The Merger Agreement—Termination of the Merger Agreement” above. In such case, the termination fee must be paid to Huntington as promptly as reasonably practicable after the date of termination (and in any event, within three (3) business days of the date of termination). |

| • | In the event that, after the date of the merger agreement and prior to the termination of the merger agreement, a bona fide Cadence acquisition proposal has been communicated to or otherwise made known to the Cadence board of directors or Cadence’s senior management or has been made directly to Cadence’s shareholders generally, or any person has publicly announced (and not withdrawn at least two (2) business days prior to the Cadence special meeting) a Cadence acquisition proposal with respect to Cadence, and (A) (x) thereafter the merger agreement is terminated by either the Huntington Parties or Cadence pursuant to the third bullet set forth in the section entitled “The Merger Agreement—Termination of the Merger Agreement” above without the requisite Cadence vote having been obtained (and all other conditions set forth regarding shareholder approval and the effectiveness under the Securities Act of the registration statement on Form S-4 of which this joint proxy statement/prospectus forms a part had been satisfied or were capable of being satisfied prior to such termination) or (y) thereafter the merger agreement is terminated by Huntington pursuant to the fourth bullet set forth in the section entitled “The Merger Agreement—Termination of the Merger Agreement” above as the result of a willful breach, and (B) prior to the date that is twelve (12) months after the date of such termination, Cadence enters into a definitive agreement or consummates a transaction with respect to a Cadence acquisition proposal (whether or not the same Cadence acquisition proposal as that referred to above), provided that for purposes of the foregoing, all references in the definition of Cadence acquisition proposal to “