Company: HBAN
Filing Date: 2025-07-21
Form Type: S-4
Source: 0001140361-25-026508
Chunk: 89

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-07-21
Form: S-4
Chunk 89
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itex Equity Awards” will apply.

For an estimate of the amounts that would be payable to Mr. Holland upon a qualifying termination under the Holland employment agreement, see “—Merger-Related Compensation for Veritex’s Named Executive Officers” below.

Employment Agreements of Messrs. Holford, Karaba, Anderson, Donnelly and McDaniel and Mses. Harper and Renfro.

Veritex entered into employment agreements with Messrs. Holford, Karaba, Anderson, Donnelly and McDaniel and Mses. Renfro on substantially the same form (each an “executive employment agreement”). Pursuant to each executive employment agreement, upon qualifying termination, the executive will be entitled to receive the following severance payments and benefits, subject to execution and non-revocation of a release of claims: (i) an amount equal to 30 months of the executive’s base salary plus a cash payment equal to two and a half (2.5) times the average annual cash incentive bonus paid to the executive for the two (2) full calendar years immediately preceding the date of his or her involuntary termination; (ii) an annual cash incentive bonus payment for the year in which the involuntary termination occurs, subject to achievement of the applicable**

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performance criteria relating to payment of such bonus, pro-rated based on the number of days the executive was employed during the performance year; and (iii) a cash payment equal to eighteen (18) months of the COBRA premium in effect at the time the executive’s involuntary termination.

Each executive employment agreement also contains thirty (30)-month post-termination non-competition, non-solicitation and non-recruitment covenants, as well as customary confidentiality, non-disparagement and cooperation covenants.

In addition, the equity award treatment described above under the heading “—Treatment of Outstanding Veritex Equity Awards” will apply.

For an estimate of the amounts that would be payable to Messrs. Holford and Karaba and Mses. Harper and Renfro upon a qualifying termination in connection with the merger under their respective employment agreements, see “—Merger-Related Compensation for Veritex Named Executive Officers” below.

The estimated aggregate value of the severance and other benefits described above (other than the equity award vesting, which is quantified above in “—Treatment of Outstanding Veritex Equity Awards”) that would be payable to Veritex’s