Company: HBAN
Filing Date: 2025-07-21
Form Type: S-4
Source: 0001140361-25-026508
Chunk: 91

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-07-21
Form: S-4
Chunk 91
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 travel, up to fifty (50) hours per calendar year) are the only compensation that Mr. Holland will receive with respect to his service to Huntington and its affiliates following the closing of the merger in any capacity. Upon Mr. Holland’s termination for any reason, he will receive the portion of the advisory fee that is earned but unpaid with respect to any semi-annual period completed prior to the date of termination and reimbursement for reasonable business expenses that are incurred but unreimbursed through the termination date. Upon Mr. Holland’s termination by Huntington for cause or by Mr. Holland without good reason, Mr. Holland is entitled to the pro-rated portion of the advisory fee for the semi-annual period (50% of the advisory fee) in which the date of termination occurs. Upon termination due to death, the advisory fee(s) that Mr. Holland would have earned through the third anniversary of the consummation of the merger will be paid to Mr. Holland’s estate in a lump sum. Upon termination due to disability, Mr. Holland is entitled to the advisory fee(s) payable

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**on the same schedule as if he had not been terminated, subject to his execution of a release of claims in favor of Huntington and continued compliance with the agreement (including the restrictive covenants contained thereof).

Under the letter agreement, Mr. Holland has agreed to be bound by certain restrictive covenants, including non-competition and non-solicitation covenants, for the five (5)-year period following the closing date of the merger. Mr. Holland will also be subject to indefinite confidentiality covenants.

The letter agreement acknowledges that the termination of Mr. Holland's employment at the effective time will be deemed a “Change-in-Control Termination” under the terms of the Holland employment agreement, as described above in “—Veritex Employment Agreements and Consulting Agreement—Employment Agreement of C. Malcolm Holland” and, in satisfaction of the obligations thereunder, Mr. Holland will be entitled to a severance payment of $5.3 million, a prorated annual bonus for the year in which the closing occurs based on actual performance and the COBRA premium payment provided under such agreement as described above.

Huntington Retention Agreement with Terry S. Earley

On July 13, 2025, in connection with the merger, Huntington entered into a letter agreement (the “retention agreement”) with Mr. Earley, the retired Chief Financial